we sell our products to the largest auto parts retail and traditional warehouse chains and to major automobile manufacturers for both their aftermarket programs and their oes program . demand and replacement rates for aftermarket remanufactured automobile parts generally increase with the age of vehicles and increases in miles driven . 20 historically , the largest share of our business was in the diy market . while that is still the case , our difm business is now a significant part of our business . in difficult economic times , we believe consumers are more likely to purchase lower cost replacement parts in both the diy and difm markets . we focus on supplying both these channels with the most cost efficient replacement parts for the consumer to purchase . within the rotating electrical segment , the difm market is an attractive opportunity for growth . we are positioned to benefit from this market opportunity in two ways : ( 1 ) our auto parts retail customers are expanding their efforts to target the difm market and ( 2 ) we sell our products under private label and our own brand names directly to suppliers that focus on professional installers . in addition , we sell our products to oe manufacturers for distribution to the professional installer both for warranty replacement and their general aftermarket channels . we have been successful in growing sales in our rotating electrical segment to this market . recent developments since our acquisition of fenco on may 6 , 2011 , we have been implementing our undercar product line turnaround plan and our top priority continued to be improvement of the financial performance of our undercar product line business . the implementation of our undercar product line turnaround plan has taken longer and cost more than initially anticipated . revenues generated by our undercar product line segment have not been sufficient to enable us to meet our operating expenses and otherwise implement our undercar product line turnaround plan . fenco has incurred net losses of $ 135,260,000 and $ 62,814,000 for the years ended march 31 , 2013 and 2012 , respectively , and has an accumulated deficit of approximately $ 198,074,000 at march 31 , 2013. fenco continues to face capital and liquidity concerns . the parent company financing agreement only permitted the company to invest up to an additional $ 20,000,000 in fenco , which it had done as of december 31 , 2012. as of march 31 , 2013 , the company had invested in fenco $ 4,946,000 of equity , $ 52,631,000 of debt , $ 27,382,000 of accounts receivable in connection with our march 2011 consignment arrangement to provide goods in order to maintain the service levels for fenco 's customers , and $ 1,782,000 of net inter-company balances . at march 31 , 2013 , the company has established a specific charge-off accrual for the debt , accounts receivable and inter-company balances . fenco has been unable to refinance its credit agreement or obtain additional sufficient capital to implement its turnaround plan . the report of our independent registered public accounting firm on our financial statements for the year ended march 31 , 2013 contains an explanatory paragraph raising substantial doubt as to our ability to continue as a going concern . during may 2013 , fenco appointed a new board of independent directors , hired an independent chief restructuring officer and all its previously existing officers resigned from fapl . as a result of the loss of control of fenco , we will likely deconsolidate the financial statements of fenco from our consolidated financial statements during the first quarter of fiscal 2014. on june 10 , 2013 , each of fapl , introcan and introcan 's subsidiaries , flo-pro inc. , lh distribution inc. , rafko logistics inc. , rafko holdings inc. and rafko enterprises inc. , filed a voluntary petition for relief under chapter 7 of the bankruptcy code in the u.s. bankruptcy court for the district of delaware . as of march 31 , 2013 , fenco 's financial statements are included in the consolidated financial statements of the company . our consolidated financial statements are prepared assuming we will continue as a going concern . the financial statements do not include any adjustments to reflect future adverse effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty . as a result of these challenges with fenco , management has adjusted its focus . going forward mpa 's focus will not include fenco but will continue to be on its rotating electrical business and evaluating other opportunities . the outlook for rotating electrical continues to be strong with over 240 million vehicles on the road with an average age of over 10 years . vehicles older than 7 years generally experience higher replacement rates for the alternators and starters . as such these metrics indicate an ongoing growth opportunity for rotating electrical . mpa 's rotating electrical business has continued to have strong liquidity which will be further enhanced by the tax benefits associated with the write-off of the fenco investments . 21 critical accounting policies we prepare our consolidated financial statements in accordance with generally accepted accounting principles , or gaap , in the united states . our significant accounting policies are discussed in detail below and in note 2 in the notes to consolidated financial statements . in preparing our consolidated financial statements , we use estimates and assumptions for matters that are inherently uncertain . we base our estimates on historical experiences and reasonable assumptions . our use of estimates and assumptions affect the reported amounts of assets , liabilities and the amount and timing of revenues and expenses we recognize for and during the reporting period . actual results may differ from our estimates . story_separator_special_tag we seek to limit the aggregate of customer returns , including warranty and stock adjustment returns , to less than 20 % of unit sales . in some instances , we allow a higher level of returns in connection with a significant update order . we provide for such anticipated returns of inventory by reducing revenue and the related cost of sales for the units estimated to be returned . our allowance for warranty returns is established based on a historical analysis of the level of this type of return as a percentage of total unit sales . stock adjustment returns do not occur at any specific time during the year , and the expected level of these returns can not be reasonably estimated based on a historical analysis . our allowance for stock adjustment returns is based on specific customer inventory levels , inventory movements and information on the estimated timing of stock adjustment returns provided by our customers . 26 sales incentives we provide various marketing allowances to our customers , including sales incentives and concessions . marketing allowances related to a single exchange of product are recorded as a reduction of revenues at the time the related revenues are recorded or when such incentives are offered . other marketing allowances , which may only be applied against future purchases , are recorded as a reduction to revenues in accordance with a schedule set forth in the relevant contract . sales incentive amounts are recorded based on the value of the incentive provided . goodwill goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations . goodwill is not amortized , but rather is tested for impairment at least annually or more frequently if there are indicators of impairment present . we perform the annual goodwill impairment analysis in the fourth quarter of each fiscal year . we evaluate whether goodwill has been impaired at the reporting unit level by first determining whether the estimated fair value of the reporting unit is less than its carrying value and , if so , by determining whether the implied fair value of goodwill within the reporting unit is less than the carrying value . as of march 31 , 2013 , we identified the following impairment indicators in our undercar product line segment : ( i ) continued losses from fenco operations , ( ii ) lower forecasted future revenues , ( iii ) negative working capital position , ( iv ) additional financing needs , and ( v ) the anticipated filing for bankruptcy . we determined the fair value of the undercar product line reporting unit using a liquidation scenario . for determining the fair value under the liquidation scenario , we used total assets minus estimated liquidation expenses to arrive to the proceeds available for senior secured creditors . based on the results of the goodwill impairment test , the reporting unit 's carrying value exceeded its fair value , indicating an impairment of goodwill at march 31 , 2013. we determined that goodwill was fully impaired as the implied fair value of goodwill within the reporting unit was zero and recorded a non-cash goodwill impairment charge of $ 68,356,000 as disclosed in the consolidated statement of operations . after recording the impairment charge , the undercar product line segment had no goodwill remaining in the consolidated balance sheet at march 31 , 2013. intangible assets our intangible assets other than goodwill are finite–lived and amortized on a straight line basis over their respective useful lives , and are analyzed for impairment when and if indicators of impairment exist . as of march 31 , 2013 , there were no indicators of impairment for our rotating electrical product line . however , we noted impairment indicators for our undercar product line segment as described above . therefore , we performed an impairment test of the undercar product line segment 's intangible assets and concluded that such intangible assets were fully impaired as of march 31 , 2013. income taxes we account for income taxes using the liability method , which measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts in the financial statements . the resulting asset or liability is adjusted to reflect changes in the tax laws as they occur . a valuation allowance is provided to reduce deferred tax assets when it is more likely than not that a portion of the deferred tax asset will not be realized . the primary components of our income tax provision ( benefit ) are ( i ) the current liability or refund due for federal , state and foreign income taxes and ( ii ) the change in the amount of the net deferred income tax asset , including the effect of any change in the valuation allowance . 27 realization of deferred tax assets is dependent upon our ability to generate sufficient future taxable income . management reviews the company 's deferred tax assets on a jurisdiction by jurisdiction basis to determine whether it is more likely than not that the deferred tax assets will be realized . as a result of fenco 's cumulative losses in certain jurisdictions , a determination was made to establish a valuation allowance against the related deferred tax assets as it is not more likely than not that such assets will be realized . for all other jurisdictions , management believes that it is more likely than not that future taxable income will be sufficient to realize the recorded deferred tax assets . in evaluating this ability , management considers long-term agreements and remanufactured core purchase obligations with our major customers that expire at various dates through march 2019. management also periodically compares the forecasts to actual results . even though there can be no assurance that the

liquidity and capital resources the following is a discussion of the company on a consolidated basis , including fenco . however , the company has separate loan agreements and accounts payable and manages its cash for its rotating electrical segment separately from fenco . overview at march 31 , 2013 , we had consolidated negative working capital of $ 67,142,000 , a ratio of current assets to current liabilities of 0.7:1 , and cash of $ 19,434,000 , compared to negative working capital of $ 2,188,000 , a ratio of current assets to current liabilities of 1:1 , and cash of $ 32,617,000 at march 31 , 2012. at march 31 , 2013 , our rotating electrical segment had working capital of $ 32,676,000 , a ratio of current assets to current liabilities of 1.5:1 , and cash of $ 19,346,000 compared to working capital of $ 15,332,000 , a ratio of current assets to current liabilities of 1.2:1 , and cash of $ 32,379,000 at march 31 , 2012 . 38 during fiscal 2013 , we used cash generated from the use of our receivable discount programs with certain of our major customers , from the private placement of our common stock , and our loans as our primary sources of liquidity . these sources were primarily used to pay down our accounts payable balances , towards the integration of our fenco acquisition , and pay for the capital expenditure obligations . for our rotating electrical business , we believe our cash on hand , short-term investments , use of receivable discount programs with certain of our major customers , amounts available under our credit agreement , and other sources are sufficient to satisfy our expected future working capital needs , repayment of the current portion of our term loans , capital lease commitments , and capital expenditure obligations over the next twelve months . recent developments since our acquisition of fenco on may 6 , 2011 , we have been implementing our undercar product line turnaround plan and our top priority continued to be improvement of the financial performance of our undercar product line business .


 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.
     ```liquidity and capital resources the following is a discussion of the company on a consolidated basis , including fenco . however , the company has separate loan agreements and accounts payable and manages its cash for its rotating electrical segment separately from fenco . overview at march 31 , 2013 , we had consolidated negative working capital of $ 67,142,000 , a ratio of current assets to current liabilities of 0.7:1 , and cash of $ 19,434,000 , compared to negative working capital of $ 2,188,000 , a ratio of current assets to current liabilities of 1:1 , and cash of $ 32,617,000 at march 31 , 2012. at march 31 , 2013 , our rotating electrical segment had working capital of $ 32,676,000 , a ratio of current assets to current liabilities of 1.5:1 , and cash of $ 19,346,000 compared to working capital of $ 15,332,000 , a ratio of current assets to current liabilities of 1.2:1 , and cash of $ 32,379,000 at march 31 , 2012 . 38 during fiscal 2013 , we used cash generated from the use of our receivable discount programs with certain of our major customers , from the private placement of our common stock , and our loans as our primary sources of liquidity . these sources were primarily used to pay down our accounts payable balances , towards the integration of our fenco acquisition , and pay for the capital expenditure obligations . for our rotating electrical business , we believe our cash on hand , short-term investments , use of receivable discount programs with certain of our major customers , amounts available under our credit agreement , and other sources are sufficient to satisfy our expected future working capital needs , repayment of the current portion of our term loans , capital lease commitments , and capital expenditure obligations over the next twelve months . recent developments since our acquisition of fenco on may 6 , 2011 , we have been implementing our undercar product line turnaround plan and our top priority continued to be improvement of the financial performance of our undercar product line business .
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 Suspicious Activity Report : we sell our products to the largest auto parts retail and traditional warehouse chains and to major automobile manufacturers for both their aftermarket programs and their oes program . demand and replacement rates for aftermarket remanufactured automobile parts generally increase with the age of vehicles and increases in miles driven . 20 historically , the largest share of our business was in the diy market . while that is still the case , our difm business is now a significant part of our business . in difficult economic times , we believe consumers are more likely to purchase lower cost replacement parts in both the diy and difm markets . we focus on supplying both these channels with the most cost efficient replacement parts for the consumer to purchase . within the rotating electrical segment , the difm market is an attractive opportunity for growth . we are positioned to benefit from this market opportunity in two ways : ( 1 ) our auto parts retail customers are expanding their efforts to target the difm market and ( 2 ) we sell our products under private label and our own brand names directly to suppliers that focus on professional installers . in addition , we sell our products to oe manufacturers for distribution to the professional installer both for warranty replacement and their general aftermarket channels . we have been successful in growing sales in our rotating electrical segment to this market . recent developments since our acquisition of fenco on may 6 , 2011 , we have been implementing our undercar product line turnaround plan and our top priority continued to be improvement of the financial performance of our undercar product line business . the implementation of our undercar product line turnaround plan has taken longer and cost more than initially anticipated . revenues generated by our undercar product line segment have not been sufficient to enable us to meet our operating expenses and otherwise implement our undercar product line turnaround plan . fenco has incurred net losses of $ 135,260,000 and $ 62,814,000 for the years ended march 31 , 2013 and 2012 , respectively , and has an accumulated deficit of approximately $ 198,074,000 at march 31 , 2013. fenco continues to face capital and liquidity concerns . the parent company financing agreement only permitted the company to invest up to an additional $ 20,000,000 in fenco , which it had done as of december 31 , 2012. as of march 31 , 2013 , the company had invested in fenco $ 4,946,000 of equity , $ 52,631,000 of debt , $ 27,382,000 of accounts receivable in connection with our march 2011 consignment arrangement to provide goods in order to maintain the service levels for fenco 's customers , and $ 1,782,000 of net inter-company balances . at march 31 , 2013 , the company has established a specific charge-off accrual for the debt , accounts receivable and inter-company balances . fenco has been unable to refinance its credit agreement or obtain additional sufficient capital to implement its turnaround plan . the report of our independent registered public accounting firm on our financial statements for the year ended march 31 , 2013 contains an explanatory paragraph raising substantial doubt as to our ability to continue as a going concern . during may 2013 , fenco appointed a new board of independent directors , hired an independent chief restructuring officer and all its previously existing officers resigned from fapl . as a result of the loss of control of fenco , we will likely deconsolidate the financial statements of fenco from our consolidated financial statements during the first quarter of fiscal 2014. on june 10 , 2013 , each of fapl , introcan and introcan 's subsidiaries , flo-pro inc. , lh distribution inc. , rafko logistics inc. , rafko holdings inc. and rafko enterprises inc. , filed a voluntary petition for relief under chapter 7 of the bankruptcy code in the u.s. bankruptcy court for the district of delaware . as of march 31 , 2013 , fenco 's financial statements are included in the consolidated financial statements of the company . our consolidated financial statements are prepared assuming we will continue as a going concern . the financial statements do not include any adjustments to reflect future adverse effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty . as a result of these challenges with fenco , management has adjusted its focus . going forward mpa 's focus will not include fenco but will continue to be on its rotating electrical business and evaluating other opportunities . the outlook for rotating electrical continues to be strong with over 240 million vehicles on the road with an average age of over 10 years . vehicles older than 7 years generally experience higher replacement rates for the alternators and starters . as such these metrics indicate an ongoing growth opportunity for rotating electrical . mpa 's rotating electrical business has continued to have strong liquidity which will be further enhanced by the tax benefits associated with the write-off of the fenco investments . 21 critical accounting policies we prepare our consolidated financial statements in accordance with generally accepted accounting principles , or gaap , in the united states . our significant accounting policies are discussed in detail below and in note 2 in the notes to consolidated financial statements . in preparing our consolidated financial statements , we use estimates and assumptions for matters that are inherently uncertain . we base our estimates on historical experiences and reasonable assumptions . our use of estimates and assumptions affect the reported amounts of assets , liabilities and the amount and timing of revenues and expenses we recognize for and during the reporting period . actual results may differ from our estimates . story_separator_special_tag we seek to limit the aggregate of customer returns , including warranty and stock adjustment returns , to less than 20 % of unit sales . in some instances , we allow a higher level of returns in connection with a significant update order . we provide for such anticipated returns of inventory by reducing revenue and the related cost of sales for the units estimated to be returned . our allowance for warranty returns is established based on a historical analysis of the level of this type of return as a percentage of total unit sales . stock adjustment returns do not occur at any specific time during the year , and the expected level of these returns can not be reasonably estimated based on a historical analysis . our allowance for stock adjustment returns is based on specific customer inventory levels , inventory movements and information on the estimated timing of stock adjustment returns provided by our customers . 26 sales incentives we provide various marketing allowances to our customers , including sales incentives and concessions . marketing allowances related to a single exchange of product are recorded as a reduction of revenues at the time the related revenues are recorded or when such incentives are offered . other marketing allowances , which may only be applied against future purchases , are recorded as a reduction to revenues in accordance with a schedule set forth in the relevant contract . sales incentive amounts are recorded based on the value of the incentive provided . goodwill goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations . goodwill is not amortized , but rather is tested for impairment at least annually or more frequently if there are indicators of impairment present . we perform the annual goodwill impairment analysis in the fourth quarter of each fiscal year . we evaluate whether goodwill has been impaired at the reporting unit level by first determining whether the estimated fair value of the reporting unit is less than its carrying value and , if so , by determining whether the implied fair value of goodwill within the reporting unit is less than the carrying value . as of march 31 , 2013 , we identified the following impairment indicators in our undercar product line segment : ( i ) continued losses from fenco operations , ( ii ) lower forecasted future revenues , ( iii ) negative working capital position , ( iv ) additional financing needs , and ( v ) the anticipated filing for bankruptcy . we determined the fair value of the undercar product line reporting unit using a liquidation scenario . for determining the fair value under the liquidation scenario , we used total assets minus estimated liquidation expenses to arrive to the proceeds available for senior secured creditors . based on the results of the goodwill impairment test , the reporting unit 's carrying value exceeded its fair value , indicating an impairment of goodwill at march 31 , 2013. we determined that goodwill was fully impaired as the implied fair value of goodwill within the reporting unit was zero and recorded a non-cash goodwill impairment charge of $ 68,356,000 as disclosed in the consolidated statement of operations . after recording the impairment charge , the undercar product line segment had no goodwill remaining in the consolidated balance sheet at march 31 , 2013. intangible assets our intangible assets other than goodwill are finite–lived and amortized on a straight line basis over their respective useful lives , and are analyzed for impairment when and if indicators of impairment exist . as of march 31 , 2013 , there were no indicators of impairment for our rotating electrical product line . however , we noted impairment indicators for our undercar product line segment as described above . therefore , we performed an impairment test of the undercar product line segment 's intangible assets and concluded that such intangible assets were fully impaired as of march 31 , 2013. income taxes we account for income taxes using the liability method , which measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts in the financial statements . the resulting asset or liability is adjusted to reflect changes in the tax laws as they occur . a valuation allowance is provided to reduce deferred tax assets when it is more likely than not that a portion of the deferred tax asset will not be realized . the primary components of our income tax provision ( benefit ) are ( i ) the current liability or refund due for federal , state and foreign income taxes and ( ii ) the change in the amount of the net deferred income tax asset , including the effect of any change in the valuation allowance . 27 realization of deferred tax assets is dependent upon our ability to generate sufficient future taxable income . management reviews the company 's deferred tax assets on a jurisdiction by jurisdiction basis to determine whether it is more likely than not that the deferred tax assets will be realized . as a result of fenco 's cumulative losses in certain jurisdictions , a determination was made to establish a valuation allowance against the related deferred tax assets as it is not more likely than not that such assets will be realized . for all other jurisdictions , management believes that it is more likely than not that future taxable income will be sufficient to realize the recorded deferred tax assets . in evaluating this ability , management considers long-term agreements and remanufactured core purchase obligations with our major customers that expire at various dates through march 2019. management also periodically compares the forecasts to actual results . even though there can be no assurance that the

