mueller co. we estimate approximately 70 % of mueller co. 's 2015 net sales were for repair and replacement directly related to municipal water infrastructure spending , approximately 25 % were related to residential construction activity and approximately 5 % were related to natural gas utilities . municipal spending in 2015 was relatively strong compared with the prior year period and economic forecasts predict this trend will continue . according to the u.s. bureau of economic analysis , state and local tax receipts for the quarter ended september 30 , 2015 were up year-over-year and , according to the u.s. department of labor , the trailing twelve-month average consumer price index for water and sewerage rates at september 30 , 2015 increased 4.5 % . however , water conservation efforts , particularly in areas impacted by recent drought conditions , have resulted in lower overall receipts for some u.s. water utilities . the year-over-year percentage change in housing starts is a key indicator of demand for mueller co. 's products sold in the residential construction market . in september 2015 , zelman & associates forecasted a 13 % increase in housing starts for calendar 2016 compared to the prior year . in october 2015 , blue chip consensus also forecasted a 13 % increase in housing starts for calendar 2016 compared to the prior year . we expect mueller co. 's net sales percentage growth in 2016 to be in the mid-single digits , with growth in key markets offset by anticipated unfavorable impacts from changes in canadian currency exchange rates and the divestiture of the municipal castings business in december 2014 . 26 index to financial statements anvil in 2015 , approximately 85 % of anvil 's net sales were generated by non-residential construction spending . several leading indicators related to non-residential construction appear to be signaling growth in this market . for example , the architectural billings index for september 2015 remained above 50 , which indicates growth , and blue chip consensus forecasted a 4.8 % increase in non-residential fixed investment in calendar 2016. sales to the oil & gas market accounted for approximately 10 % of anvil 's net sales in 2015 , down from 20 % in 2014. the trend in rig counts correlates with the direction of demand for anvil 's products that are sold into this market . according to baker hughes incorporated , u.s. land-based rig counts in early october 2015 represent a decline of approximately 58 % year-over-year . we expect anvil 's net sales percentage growth in 2016 to be in the low single digits , driven by the non-residential construction market . we believe anvil 's overall growth will continue to be impacted by an expected decline in net sales to its addressed oil & gas market on a year-over-year basis during the first half of the year , especially in the first quarter . based on current market conditions , we expect anvil 's net sales into this market during the second half of the year to be flat on a year-over-year basis . mueller technologies the municipal market is the key end market for the mueller technologies companies . these businesses are project-oriented and depend on customer adoption of their technology-based products and services . for 2016 , we entered the year with significantly higher ami backlog and projects awarded for mueller systems and higher projects under contract at echologics . we expect mueller technologies ' net sales percentage growth in 2016 to be approximately 10 % to 15 % . we also expect operating income to improve by approximately $ 7 million to $ 10 million . consolidated overall in 2016 for mueller water products , we expect year-over-year net sales percentage growth in the mid-single digits with stronger growth at the mueller co. and mueller technologies segments . we expect higher operating income and operating margin , driven primarily by a favorable mix of our higher-margin products at mueller co. 27 index to financial statements results of operations year ended september 30 , 2015 compared to year ended september 30 , 2014 replace_table_token_4_th consolidated analysis net sales for 2015 declined to $ 1,164.5 million from $ 1,184.7 million in the prior year period due primarily to lower shipment volumes of $ 16.7 million and unfavorable changes in canadian currency exchange rates of $ 10.7 million offset by improved pricing of $ 7.2 million . gross profit for 2015 of $ 347.3 million was essentially flat compared to $ 347.9 million in the prior year period . gross margin increased 40 basis points to 29.8 % in 2015 from 29.4 % in the prior year period due primarily to improved sales pricing . selling , general and administrative expenses ( “ sg & a ” ) for 2015 decreased to $ 216.9 million from $ 220.7 million in the prior year period . sg & a as a percentage of net sales was 18.6 % in both 2015 and in the prior year period . we have a tax-related receivable from walter energy from prior to our spin-off from walter in december 2006. walter filed a petition for reorganization under chapter 11 of the u.s. bankruptcy code in july 2015. as a result of this petition , we recorded a provision for doubtful accounts of $ 11.6 million in 2015 . 28 index to financial statements interest expense , net declined $ 22.0 million in 2015 compared to the prior year period due primarily to the debt refinancing we completed in november 2014 , which replaced the senior subordinated notes and the senior unsecured notes with the lower-rate term loan . also , debt principal outstanding declined by $ 45.0 million due to the november 2014 refinancing . story_separator_special_tag these estimates are based upon experience and on various other assumptions we believe to be reasonable under the circumstances . actual results may differ from these estimates . we consider an accounting estimate to be critical if changes in the estimate that are reasonably likely to occur over time or the use of reasonably different estimates could have a material impact on our financial condition or results of operations . we consider the accounting topics presented below to include our critical accounting estimates . revenue recognition we recognize revenue when delivery of a product or performance of a service has occurred and there is persuasive evidence of a sales arrangement , sales prices are fixed and determinable and collectability from the customers is reasonably assured . sales are recorded net of estimated discounts , returns and rebates . discounts , returns and rebates are estimated based upon current offered sales terms and historical return and allowance rates . receivables the estimated allowance for doubtful receivables is based upon judgments and estimates of expected losses and specific identification of problem accounts . significantly weaker than anticipated industry or economic conditions could impact customers ' ability to pay such that actual losses may be greater than the amounts provided for in this allowance . the periodic evaluation of the adequacy of the allowance for doubtful receivables is based on an analysis of prior collection experience , specific customer creditworthiness and current economic trends within the industries served . in circumstances where a specific customer 's inability to meet its financial obligation is known to us ( e.g . , bankruptcy filings or substantial downgrading of credit ratings ) , we record a specific allowance to reduce the receivable to the amount we reasonably believe will be collected . inventories we record inventories at the lower of first-in , first-out method cost or market value . inventory cost includes an overhead component that can be affected by levels of production and actual costs incurred . we evaluate the need to record adjustments for impairment of inventory at least quarterly . this evaluation includes such factors as anticipated usage , inventory levels and ultimate product sales value . inventory that , in the judgment of management , is obsolete or in excess of our normal usage is written-down to its estimated market value , if less than its cost . significant judgments must be made when establishing the allowance for obsolete and excess inventory . income taxes we recognize deferred tax liabilities and deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns . deferred tax liabilities and assets are determined based on the differences between the financial statements and the tax basis of assets and liabilities , using enacted tax rates in effect for the years in which the differences are expected to reverse . a valuation allowance is provided to offset any net deferred tax assets when , based upon the available evidence , it is more likely than not that some or all of the deferred tax assets will not be realized . our tax balances are based on our expectations of future operating performance , reversal of taxable temporary differences , tax planning strategies , interpretation of the tax regulations currently enacted and rulings in numerous tax jurisdictions . we only record tax benefits for positions that we believe are more likely than not of being sustained under audit examination based solely on the technical merits of the associated tax position . the amount of tax benefit recognized for any position that meets the more likely than not threshold is the largest amount of the tax benefit that we believe is greater than 50 % likely of being realized . accounting for the impairment of long-lived assets including goodwill and other intangible assets we test indefinite-lived intangible assets for impairment annually ( or more frequently if events or circumstances indicate possible impairment ) . we performed this annual impairment testing at september 1 , and concluded that our indefinite-lived intangible assets were not impaired . we tested the indefinite-lived intangible assets for impairment using a “ royalty savings method , ” which is a variation of the discounted cash flow method . this method estimates a fair value by calculating an estimated discounted future cash flow stream from the hypothetical licensing of the indefinite-lived intangible assets . if this estimated fair value exceeds the carrying value , no impairment is indicated . this analysis is dependent on management 's best estimates of future operating results and the selection of reasonable discount rates and hypothetical royalty rates . significantly 37 index to financial statements different projected operating results could result in a different conclusion regarding impairment . no impairments would have been indicated for any discount rates and hypothetical royalty rates consistent with standard valuation methodologies considered reasonable by management . other long-lived assets , including finite-lived intangible assets , are amortized over their respective estimated useful lives and reviewed for impairment if events or circumstances indicate possible impairment . contingencies we are involved in litigation , investigations and claims arising out of the normal conduct of our business . we estimate and accrue liabilities resulting from such matters based on a variety of factors , including outstanding legal claims and proposed settlements ; assessments by counsel of pending or threatened litigation ; and assessments of potential environmental liabilities and remediation costs . we believe we have adequately accrued for these potential liabilities ; however , facts and circumstances may change and could cause the actual liability to exceed the estimates , or may require adjustments to the recorded liability balances in the future . as we learn new facts concerning contingencies , we reassess our position both with respect to accrued liabilities and other potential exposures . estimates particularly sensitive to future changes include contingent liabilities recorded for environmental remediation , tax and legal matters . estimated future

cash and cash equivalents were $ 113.1 million at september 30 , 2015 compared to $ 161.1 million at september 30 , 2014 . cash and cash equivalents decreased during 2015 as a result of cash used in financing of $ 99.0 million , primarily debt repayments , and cash used in investing of $ 31.6 million , primarily capital expenditures , partially offset by cash provided by operating activities of $ 87.8 million . cash and cash equivalents also decreased by $ 5.2 million during 2015 due to changes in currency exchange rates . receivables , net were $ 175.3 million at september 30 , 2015 compared to $ 182.1 million at september 30 , 2014 . receivables at september 30 , 2015 and september 30 , 2014 represented approximately 51 and 52 days net sales , respectively . inventories were $ 219.1 million at september 30 , 2015 compared to $ 198.0 million at september 30 , 2014 . inventories increased during 2015 due primarily to lower sales into the oil & gas market , lower sales due to adverse weather impacts at mueller co. and a build-up of certain meter components . estimated inventory turns in 2015 were approximately half a turn slower than 2014. property , plant and equipment , net was $ 148.9 million at september 30 , 2015 compared to $ 146.3 million at september 30 , 2014 , and depreciation expense was $ 28.7 million in 2015 . capital expenditures , including external-use software development costs capitalized , were $ 37.5 million in 2015 . intangible assets were $ 507.3 million at september 30 , 2015 compared to $ 533.6 million at september 30 , 2014 . finite-lived intangible assets , $ 202.3 million of net book value at september 30 , 2015 , are amortized over their estimated useful lives . this amortization expense was $ 29.4 million during 2015 and is expected to be $ 20 million to $ 25 million for each of the next five years .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash and cash equivalents were $ 113.1 million at september 30 , 2015 compared to $ 161.1 million at september 30 , 2014 . cash and cash equivalents decreased during 2015 as a result of cash used in financing of $ 99.0 million , primarily debt repayments , and cash used in investing of $ 31.6 million , primarily capital expenditures , partially offset by cash provided by operating activities of $ 87.8 million . cash and cash equivalents also decreased by $ 5.2 million during 2015 due to changes in currency exchange rates . receivables , net were $ 175.3 million at september 30 , 2015 compared to $ 182.1 million at september 30 , 2014 . receivables at september 30 , 2015 and september 30 , 2014 represented approximately 51 and 52 days net sales , respectively . inventories were $ 219.1 million at september 30 , 2015 compared to $ 198.0 million at september 30 , 2014 . inventories increased during 2015 due primarily to lower sales into the oil & gas market , lower sales due to adverse weather impacts at mueller co. and a build-up of certain meter components . estimated inventory turns in 2015 were approximately half a turn slower than 2014. property , plant and equipment , net was $ 148.9 million at september 30 , 2015 compared to $ 146.3 million at september 30 , 2014 , and depreciation expense was $ 28.7 million in 2015 . capital expenditures , including external-use software development costs capitalized , were $ 37.5 million in 2015 . intangible assets were $ 507.3 million at september 30 , 2015 compared to $ 533.6 million at september 30 , 2014 . finite-lived intangible assets , $ 202.3 million of net book value at september 30 , 2015 , are amortized over their estimated useful lives . this amortization expense was $ 29.4 million during 2015 and is expected to be $ 20 million to $ 25 million for each of the next five years .
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 Suspicious Activity Report : mueller co. we estimate approximately 70 % of mueller co. 's 2015 net sales were for repair and replacement directly related to municipal water infrastructure spending , approximately 25 % were related to residential construction activity and approximately 5 % were related to natural gas utilities . municipal spending in 2015 was relatively strong compared with the prior year period and economic forecasts predict this trend will continue . according to the u.s. bureau of economic analysis , state and local tax receipts for the quarter ended september 30 , 2015 were up year-over-year and , according to the u.s. department of labor , the trailing twelve-month average consumer price index for water and sewerage rates at september 30 , 2015 increased 4.5 % . however , water conservation efforts , particularly in areas impacted by recent drought conditions , have resulted in lower overall receipts for some u.s. water utilities . the year-over-year percentage change in housing starts is a key indicator of demand for mueller co. 's products sold in the residential construction market . in september 2015 , zelman & associates forecasted a 13 % increase in housing starts for calendar 2016 compared to the prior year . in october 2015 , blue chip consensus also forecasted a 13 % increase in housing starts for calendar 2016 compared to the prior year . we expect mueller co. 's net sales percentage growth in 2016 to be in the mid-single digits , with growth in key markets offset by anticipated unfavorable impacts from changes in canadian currency exchange rates and the divestiture of the municipal castings business in december 2014 . 26 index to financial statements anvil in 2015 , approximately 85 % of anvil 's net sales were generated by non-residential construction spending . several leading indicators related to non-residential construction appear to be signaling growth in this market . for example , the architectural billings index for september 2015 remained above 50 , which indicates growth , and blue chip consensus forecasted a 4.8 % increase in non-residential fixed investment in calendar 2016. sales to the oil & gas market accounted for approximately 10 % of anvil 's net sales in 2015 , down from 20 % in 2014. the trend in rig counts correlates with the direction of demand for anvil 's products that are sold into this market . according to baker hughes incorporated , u.s. land-based rig counts in early october 2015 represent a decline of approximately 58 % year-over-year . we expect anvil 's net sales percentage growth in 2016 to be in the low single digits , driven by the non-residential construction market . we believe anvil 's overall growth will continue to be impacted by an expected decline in net sales to its addressed oil & gas market on a year-over-year basis during the first half of the year , especially in the first quarter . based on current market conditions , we expect anvil 's net sales into this market during the second half of the year to be flat on a year-over-year basis . mueller technologies the municipal market is the key end market for the mueller technologies companies . these businesses are project-oriented and depend on customer adoption of their technology-based products and services . for 2016 , we entered the year with significantly higher ami backlog and projects awarded for mueller systems and higher projects under contract at echologics . we expect mueller technologies ' net sales percentage growth in 2016 to be approximately 10 % to 15 % . we also expect operating income to improve by approximately $ 7 million to $ 10 million . consolidated overall in 2016 for mueller water products , we expect year-over-year net sales percentage growth in the mid-single digits with stronger growth at the mueller co. and mueller technologies segments . we expect higher operating income and operating margin , driven primarily by a favorable mix of our higher-margin products at mueller co. 27 index to financial statements results of operations year ended september 30 , 2015 compared to year ended september 30 , 2014 replace_table_token_4_th consolidated analysis net sales for 2015 declined to $ 1,164.5 million from $ 1,184.7 million in the prior year period due primarily to lower shipment volumes of $ 16.7 million and unfavorable changes in canadian currency exchange rates of $ 10.7 million offset by improved pricing of $ 7.2 million . gross profit for 2015 of $ 347.3 million was essentially flat compared to $ 347.9 million in the prior year period . gross margin increased 40 basis points to 29.8 % in 2015 from 29.4 % in the prior year period due primarily to improved sales pricing . selling , general and administrative expenses ( “ sg & a ” ) for 2015 decreased to $ 216.9 million from $ 220.7 million in the prior year period . sg & a as a percentage of net sales was 18.6 % in both 2015 and in the prior year period . we have a tax-related receivable from walter energy from prior to our spin-off from walter in december 2006. walter filed a petition for reorganization under chapter 11 of the u.s. bankruptcy code in july 2015. as a result of this petition , we recorded a provision for doubtful accounts of $ 11.6 million in 2015 . 28 index to financial statements interest expense , net declined $ 22.0 million in 2015 compared to the prior year period due primarily to the debt refinancing we completed in november 2014 , which replaced the senior subordinated notes and the senior unsecured notes with the lower-rate term loan . also , debt principal outstanding declined by $ 45.0 million due to the november 2014 refinancing . story_separator_special_tag these estimates are based upon experience and on various other assumptions we believe to be reasonable under the circumstances . actual results may differ from these estimates . we consider an accounting estimate to be critical if changes in the estimate that are reasonably likely to occur over time or the use of reasonably different estimates could have a material impact on our financial condition or results of operations . we consider the accounting topics presented below to include our critical accounting estimates . revenue recognition we recognize revenue when delivery of a product or performance of a service has occurred and there is persuasive evidence of a sales arrangement , sales prices are fixed and determinable and collectability from the customers is reasonably assured . sales are recorded net of estimated discounts , returns and rebates . discounts , returns and rebates are estimated based upon current offered sales terms and historical return and allowance rates . receivables the estimated allowance for doubtful receivables is based upon judgments and estimates of expected losses and specific identification of problem accounts . significantly weaker than anticipated industry or economic conditions could impact customers ' ability to pay such that actual losses may be greater than the amounts provided for in this allowance . the periodic evaluation of the adequacy of the allowance for doubtful receivables is based on an analysis of prior collection experience , specific customer creditworthiness and current economic trends within the industries served . in circumstances where a specific customer 's inability to meet its financial obligation is known to us ( e.g . , bankruptcy filings or substantial downgrading of credit ratings ) , we record a specific allowance to reduce the receivable to the amount we reasonably believe will be collected . inventories we record inventories at the lower of first-in , first-out method cost or market value . inventory cost includes an overhead component that can be affected by levels of production and actual costs incurred . we evaluate the need to record adjustments for impairment of inventory at least quarterly . this evaluation includes such factors as anticipated usage , inventory levels and ultimate product sales value . inventory that , in the judgment of management , is obsolete or in excess of our normal usage is written-down to its estimated market value , if less than its cost . significant judgments must be made when establishing the allowance for obsolete and excess inventory . income taxes we recognize deferred tax liabilities and deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns . deferred tax liabilities and assets are determined based on the differences between the financial statements and the tax basis of assets and liabilities , using enacted tax rates in effect for the years in which the differences are expected to reverse . a valuation allowance is provided to offset any net deferred tax assets when , based upon the available evidence , it is more likely than not that some or all of the deferred tax assets will not be realized . our tax balances are based on our expectations of future operating performance , reversal of taxable temporary differences , tax planning strategies , interpretation of the tax regulations currently enacted and rulings in numerous tax jurisdictions . we only record tax benefits for positions that we believe are more likely than not of being sustained under audit examination based solely on the technical merits of the associated tax position . the amount of tax benefit recognized for any position that meets the more likely than not threshold is the largest amount of the tax benefit that we believe is greater than 50 % likely of being realized . accounting for the impairment of long-lived assets including goodwill and other intangible assets we test indefinite-lived intangible assets for impairment annually ( or more frequently if events or circumstances indicate possible impairment ) . we performed this annual impairment testing at september 1 , and concluded that our indefinite-lived intangible assets were not impaired . we tested the indefinite-lived intangible assets for impairment using a “ royalty savings method , ” which is a variation of the discounted cash flow method . this method estimates a fair value by calculating an estimated discounted future cash flow stream from the hypothetical licensing of the indefinite-lived intangible assets . if this estimated fair value exceeds the carrying value , no impairment is indicated . this analysis is dependent on management 's best estimates of future operating results and the selection of reasonable discount rates and hypothetical royalty rates . significantly 37 index to financial statements different projected operating results could result in a different conclusion regarding impairment . no impairments would have been indicated for any discount rates and hypothetical royalty rates consistent with standard valuation methodologies considered reasonable by management . other long-lived assets , including finite-lived intangible assets , are amortized over their respective estimated useful lives and reviewed for impairment if events or circumstances indicate possible impairment . contingencies we are involved in litigation , investigations and claims arising out of the normal conduct of our business . we estimate and accrue liabilities resulting from such matters based on a variety of factors , including outstanding legal claims and proposed settlements ; assessments by counsel of pending or threatened litigation ; and assessments of potential environmental liabilities and remediation costs . we believe we have adequately accrued for these potential liabilities ; however , facts and circumstances may change and could cause the actual liability to exceed the estimates , or may require adjustments to the recorded liability balances in the future . as we learn new facts concerning contingencies , we reassess our position both with respect to accrued liabilities and other potential exposures . estimates particularly sensitive to future changes include contingent liabilities recorded for environmental remediation , tax and legal matters . estimated future

