for our selling , general and administrative ( sg & a ) expenses , we expect to continue to realize efficiencies from our operational excellence initiatives . however , since many of our fixed sg & a expenses are denominated in u.s. dollars , such as corporate and business unit headquarter expenses and intangible asset amortization , our sg & a expenses may not decrease in similar proportion to net sales decreases expected from changes in foreign currency exchange rates . results of operations net sales by reportable segment the following tables present net sales by reportable segment and the components of the percentage changes ( dollars in millions ) : replace_table_token_2_th 20 zimmer holdings , inc. 2014 form 10-k annual report replace_table_token_3_th foreign exchange as used in the tables in this report represents the effect of changes in foreign currency exchange rates on sales growth . net sales by product category the following tables present net sales by product category and the components of the percentage changes ( dollars in millions ) : replace_table_token_4_th replace_table_token_5_th 21 zimmer holdings , inc. 2014 form 10-k annual report the following table presents net sales by product category by region ( dollars in millions ) : replace_table_token_6_th demand ( volume and mix ) trends increased volume and changes in the mix of product sales contributed 4 percentage points of year-over-year sales growth in 2014 , which was a lower growth rate than experienced in 2013 compared to 2012. in 2013 , accelerated growth was fueled by the introduction of new products , such as persona the personalized knee system and the transposal fluid waste management system . in 2014 , while new products continued to drive sales growth , their impact on a year-over-year basis was not as significant . we believe long-term indicators point toward sustained growth driven by an aging global population , growth in emerging markets , obesity , proven clinical benefits , new material technologies , advances in surgical techniques and more active lifestyles , among other factors . in addition , demand for clinically proven premium products and patient specific devices are expected to continue to positively affect sales growth in markets that recognize the value of these advanced technologies . pricing trends global selling prices had a negative effect of 2 percent on year-over-year sales during 2014. the negative 2 percent was consistent with prior years as we continued to experience pricing pressure from governmental healthcare cost containment efforts and from local hospitals and health systems . for 2015 , we expect continued pricing pressure similar to prior years . foreign currency exchange rates for 2014 , foreign currency exchange rates resulted in a 1 percent decrease in sales , driven by the strengthening of the u.s. dollar versus the japanese yen as well as a few other currencies in other regions in which we operate . if foreign currency exchange rates remain consistent with december 31 , 2014 rates , we estimate that a stronger dollar versus foreign currency exchange rates will have a greater negative effect on sales in 2015 than in 2014. we address currency risk through regular operating and financing activities and through the use of foreign currency forward contracts and foreign currency options solely to manage foreign currency volatility and risk . changes to foreign currency exchange rates affect sales growth , but due to gains/losses on hedge contracts and options , which are recorded in cost of products sold , the effect on net earnings in the near term is expected to be partially offset . 22 zimmer holdings , inc. 2014 form 10-k annual report sales by product category knees knee sales increased 3 percent in 2014 compared to a 4 percent increase in 2013. our knee product category has benefited from recent product introductions , such as persona the personalized knee system and joint preservation solutions . however , the volume/mix growth from new product introductions has been tempered by pricing pressure in all our reporting segments . in 2014 , we continued a broader launch of persona the personalized knee system . we intend to continue to deploy implant and instrument sets for this knee system to all geographic regions in 2015 and beyond . our nexgen complete knee solution product line is still our leading global knee system in terms of sales . products driving growth in this category , in addition to persona the personalized knee system , included the zimmer unicompartmental high flex knee and our joint preservation solutions . in europe , changes in foreign currency exchange rates affected knee sales in 2014 and 2013 by negative 1 percent and positive 2 percent , respectively . in asia pacific , changes in foreign currency exchange rates had negative effects on knee sales of 5 percent and 9 percent in 2014 and 2013 , respectively . hips hip sales were flat in 2014 after a decline of 1 percent in 2013. positive volume and mix trends continue to be offset by pricing pressure . leading hip stem sales were the zimmer m/l taper hip prosthesis , the zimmer m/l taper hip prosthesis with kinectiv technology , the cls spotorno stem from the cls hip system , the alloclassic zweymüller hip stem and the fitmore hip stem . products experiencing growth in this category included the avenir müller stem , the wagner sl revision hip stem , the continuum acetabular system , the trilogy it acetabular system , the allofit it alloclassic acetabular system , vivacit-e highly crosslinked polyethylene liners and biolox delta heads . in europe , changes in foreign currency exchange rates affected hip sales in 2014 and 2013 by negative 1 percent and positive 2 percent , respectively . in asia pacific , changes in foreign currency exchange rates had negative effects on hip sales of 6 percent and 11 percent in 2014 and 2013 , respectively . story_separator_special_tag we will also pay the accrued and unpaid interest on the senior notes to the redemption date . we have a senior credit facility ( senior credit facility ) that contains : ( i ) the 5-year unsecured term loan in the principal amount of $ 3.0 billion , and ( ii ) a 5-year unsecured multicurrency revolving facility ( multicurrency revolving facility ) in the principal amount of $ 1.35 billion . the senior credit facility replaces a previous credit agreement that provided for a $ 1.35 billion revolving credit facility that would have matured in may 2017. the multicurrency revolving facility will mature in may 2019 , with two one-year extensions available at our option . borrowings under the multicurrency revolving facility may be used for general corporate purposes . there were no borrowings outstanding under the multicurrency revolving facility as of december 31 , 2014. the availability of the term loan is conditioned on , among other things , the consummation of the biomet merger . the term loan will mature five years after the initial borrowing . borrowings under the term loan may only be used by us to fund , in part , the biomet merger , including the payment of any indebtedness of lvb and its subsidiaries , and to pay all or a portion of the costs incurred by us in connection with the biomet merger . we must reduce unused commitments under the term loan and prepay the borrowings under the term loan with any net cash proceeds received from specified asset sales , issuances or sales of equity and incurrences of borrowed 27 zimmer holdings , inc. 2014 form 10-k annual report money indebtedness , subject to certain exceptions . the commitments under the term loan automatically terminate on the earliest to occur of ( i ) the funding and disbursement of term loan funds to us , ( ii ) april 24 , 2015 , as such date may be extended pursuant to the merger agreement or ( iii ) termination of the merger agreement . we and certain of our wholly owned foreign subsidiaries are the borrowers under the senior credit facility . borrowings under the senior credit facility bear interest at floating rates based upon indices determined by the currency of the borrowings plus an applicable margin determined by reference to our senior unsecured long-term credit rating , or at an alternate base rate , or , in the case of borrowings under the multicurrency revolving facility only , at a fixed-rate determined through a competitive bid process . the senior credit facility contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets . financial covenants include a consolidated indebtedness to consolidated ebitda ratio of no greater than 3.0 to 1.0 in periods prior to any term loan funding and no greater than 5.0 to 1.0 in periods after the term loan is funded . if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends . we were in compliance with all covenants under the senior credit facility as of december 31 , 2014. commitments under the senior credit facility are subject to certain fees . on the multicurrency revolving facility , we pay a facility fee at a rate determined by reference to our senior unsecured long-term credit rating . on the term loan , we pay a fee on the daily actual unused commitment for the period from and including july 23 , 2014 through the day the commitments under the term loan terminate . the bridge credit agreement is a 364-day unsecured committed bridge facility in the principal amount of $ 7.66 billion . funding of loans under the bridge credit agreement is conditioned on , among other things , the consummation of the biomet merger . any loans under the bridge credit agreement will mature 364 days after the funding date of the loans . the bridge credit agreement requires us to reduce unused commitments and prepay the loans with any net cash proceeds received from specified asset sales , issuances or sales of equity and incurrences of borrowed money indebtedness , such as new senior notes we intend to issue , subject to certain exceptions . commitments under the bridge credit agreement automatically terminate on the earliest to occur of : ( i ) the funding and disbursement of the loans , ( ii ) april 24 , 2015 , as such date may be extended pursuant to the merger agreement , or ( iii ) termination of the merger agreement . proceeds of loans under the bridge credit agreement may only be used to fund , in part , the biomet merger , including the payment of any indebtedness of lvb and its subsidiaries , and to pay all or a portion of the costs incurred by us in connection with the biomet merger . zimmer holdings is the borrower under the bridge credit agreement . borrowings under the bridge credit agreement bear interest at floating rates based upon libor plus an applicable margin determined by reference to our senior unsecured long-term credit rating , or at an alternate base rate . the bridge credit agreement contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets . financial covenants include a consolidated indebtedness to consolidated ebitda ratio of no greater than 5.0 to 1.0. we were in compliance with all covenants under the bridge credit agreement as of december 31 , 2014. if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends . we will pay a funding fee if we borrow under the bridge credit

liquidity and capital resources cash flows provided by operating activities were $ 1,052.8 million in 2014 , compared to $ 963.1 million in 2013. the principal source of cash from operating activities was net earnings . non-cash items included in net earnings accounted for another $ 346.4 million of operating cash in 2014. all other items of operating cash flows reflect a use of $ 12.6 million of cash in 2014 , compared to a use of $ 84.9 million in 2013. the increased cash flows provided by operating activities in 2014 were primarily due to improved cash flows generated from receivables collections , especially in europe , lower funding necessary for our u.s. pension plans , and receipt of insurance proceeds related to durom cup product liability claims . these favorable items were partially offset by higher tax payments for certain unresolved matters in order to limit the potential impact of irs interest charges and inventory investments . at december 31 , 2014 , we had 64 days of sales outstanding in trade accounts receivable , which was 1 day less than at december 31 , 2013. our days of sales outstanding reflect the reimbursement patterns of the healthcare industry in the markets where we compete . collection of trade accounts receivable is influenced by insurance reimbursements and government budgets , among other things . days of sales outstanding are lowest in our americas reporting segment , as the u.s. healthcare system has a higher percentage of private-pay insurers who generally pay more quickly than government-based healthcare systems . in our europe and asia pacific reporting segments , days of sales outstanding are higher , as healthcare is typically sponsored by governments which tend to pay more slowly . additionally , there are some seasonal trends in our days of sales outstanding as it usually trends higher in our third quarter due to lower sales volumes and is lower in our fourth quarter when sales volumes are at their highest . our days of sales outstanding in the past three years have ranged between 64 and 73 days .


 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 cash flows provided by operating activities were $ 1,052.8 million in 2014 , compared to $ 963.1 million in 2013. the principal source of cash from operating activities was net earnings . non-cash items included in net earnings accounted for another $ 346.4 million of operating cash in 2014. all other items of operating cash flows reflect a use of $ 12.6 million of cash in 2014 , compared to a use of $ 84.9 million in 2013. the increased cash flows provided by operating activities in 2014 were primarily due to improved cash flows generated from receivables collections , especially in europe , lower funding necessary for our u.s. pension plans , and receipt of insurance proceeds related to durom cup product liability claims . these favorable items were partially offset by higher tax payments for certain unresolved matters in order to limit the potential impact of irs interest charges and inventory investments . at december 31 , 2014 , we had 64 days of sales outstanding in trade accounts receivable , which was 1 day less than at december 31 , 2013. our days of sales outstanding reflect the reimbursement patterns of the healthcare industry in the markets where we compete . collection of trade accounts receivable is influenced by insurance reimbursements and government budgets , among other things . days of sales outstanding are lowest in our americas reporting segment , as the u.s. healthcare system has a higher percentage of private-pay insurers who generally pay more quickly than government-based healthcare systems . in our europe and asia pacific reporting segments , days of sales outstanding are higher , as healthcare is typically sponsored by governments which tend to pay more slowly . additionally , there are some seasonal trends in our days of sales outstanding as it usually trends higher in our third quarter due to lower sales volumes and is lower in our fourth quarter when sales volumes are at their highest . our days of sales outstanding in the past three years have ranged between 64 and 73 days .
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 Suspicious Activity Report : for our selling , general and administrative ( sg & a ) expenses , we expect to continue to realize efficiencies from our operational excellence initiatives . however , since many of our fixed sg & a expenses are denominated in u.s. dollars , such as corporate and business unit headquarter expenses and intangible asset amortization , our sg & a expenses may not decrease in similar proportion to net sales decreases expected from changes in foreign currency exchange rates . results of operations net sales by reportable segment the following tables present net sales by reportable segment and the components of the percentage changes ( dollars in millions ) : replace_table_token_2_th 20 zimmer holdings , inc. 2014 form 10-k annual report replace_table_token_3_th foreign exchange as used in the tables in this report represents the effect of changes in foreign currency exchange rates on sales growth . net sales by product category the following tables present net sales by product category and the components of the percentage changes ( dollars in millions ) : replace_table_token_4_th replace_table_token_5_th 21 zimmer holdings , inc. 2014 form 10-k annual report the following table presents net sales by product category by region ( dollars in millions ) : replace_table_token_6_th demand ( volume and mix ) trends increased volume and changes in the mix of product sales contributed 4 percentage points of year-over-year sales growth in 2014 , which was a lower growth rate than experienced in 2013 compared to 2012. in 2013 , accelerated growth was fueled by the introduction of new products , such as persona the personalized knee system and the transposal fluid waste management system . in 2014 , while new products continued to drive sales growth , their impact on a year-over-year basis was not as significant . we believe long-term indicators point toward sustained growth driven by an aging global population , growth in emerging markets , obesity , proven clinical benefits , new material technologies , advances in surgical techniques and more active lifestyles , among other factors . in addition , demand for clinically proven premium products and patient specific devices are expected to continue to positively affect sales growth in markets that recognize the value of these advanced technologies . pricing trends global selling prices had a negative effect of 2 percent on year-over-year sales during 2014. the negative 2 percent was consistent with prior years as we continued to experience pricing pressure from governmental healthcare cost containment efforts and from local hospitals and health systems . for 2015 , we expect continued pricing pressure similar to prior years . foreign currency exchange rates for 2014 , foreign currency exchange rates resulted in a 1 percent decrease in sales , driven by the strengthening of the u.s. dollar versus the japanese yen as well as a few other currencies in other regions in which we operate . if foreign currency exchange rates remain consistent with december 31 , 2014 rates , we estimate that a stronger dollar versus foreign currency exchange rates will have a greater negative effect on sales in 2015 than in 2014. we address currency risk through regular operating and financing activities and through the use of foreign currency forward contracts and foreign currency options solely to manage foreign currency volatility and risk . changes to foreign currency exchange rates affect sales growth , but due to gains/losses on hedge contracts and options , which are recorded in cost of products sold , the effect on net earnings in the near term is expected to be partially offset . 22 zimmer holdings , inc. 2014 form 10-k annual report sales by product category knees knee sales increased 3 percent in 2014 compared to a 4 percent increase in 2013. our knee product category has benefited from recent product introductions , such as persona the personalized knee system and joint preservation solutions . however , the volume/mix growth from new product introductions has been tempered by pricing pressure in all our reporting segments . in 2014 , we continued a broader launch of persona the personalized knee system . we intend to continue to deploy implant and instrument sets for this knee system to all geographic regions in 2015 and beyond . our nexgen complete knee solution product line is still our leading global knee system in terms of sales . products driving growth in this category , in addition to persona the personalized knee system , included the zimmer unicompartmental high flex knee and our joint preservation solutions . in europe , changes in foreign currency exchange rates affected knee sales in 2014 and 2013 by negative 1 percent and positive 2 percent , respectively . in asia pacific , changes in foreign currency exchange rates had negative effects on knee sales of 5 percent and 9 percent in 2014 and 2013 , respectively . hips hip sales were flat in 2014 after a decline of 1 percent in 2013. positive volume and mix trends continue to be offset by pricing pressure . leading hip stem sales were the zimmer m/l taper hip prosthesis , the zimmer m/l taper hip prosthesis with kinectiv technology , the cls spotorno stem from the cls hip system , the alloclassic zweymüller hip stem and the fitmore hip stem . products experiencing growth in this category included the avenir müller stem , the wagner sl revision hip stem , the continuum acetabular system , the trilogy it acetabular system , the allofit it alloclassic acetabular system , vivacit-e highly crosslinked polyethylene liners and biolox delta heads . in europe , changes in foreign currency exchange rates affected hip sales in 2014 and 2013 by negative 1 percent and positive 2 percent , respectively . in asia pacific , changes in foreign currency exchange rates had negative effects on hip sales of 6 percent and 11 percent in 2014 and 2013 , respectively . story_separator_special_tag we will also pay the accrued and unpaid interest on the senior notes to the redemption date . we have a senior credit facility ( senior credit facility ) that contains : ( i ) the 5-year unsecured term loan in the principal amount of $ 3.0 billion , and ( ii ) a 5-year unsecured multicurrency revolving facility ( multicurrency revolving facility ) in the principal amount of $ 1.35 billion . the senior credit facility replaces a previous credit agreement that provided for a $ 1.35 billion revolving credit facility that would have matured in may 2017. the multicurrency revolving facility will mature in may 2019 , with two one-year extensions available at our option . borrowings under the multicurrency revolving facility may be used for general corporate purposes . there were no borrowings outstanding under the multicurrency revolving facility as of december 31 , 2014. the availability of the term loan is conditioned on , among other things , the consummation of the biomet merger . the term loan will mature five years after the initial borrowing . borrowings under the term loan may only be used by us to fund , in part , the biomet merger , including the payment of any indebtedness of lvb and its subsidiaries , and to pay all or a portion of the costs incurred by us in connection with the biomet merger . we must reduce unused commitments under the term loan and prepay the borrowings under the term loan with any net cash proceeds received from specified asset sales , issuances or sales of equity and incurrences of borrowed 27 zimmer holdings , inc. 2014 form 10-k annual report money indebtedness , subject to certain exceptions . the commitments under the term loan automatically terminate on the earliest to occur of ( i ) the funding and disbursement of term loan funds to us , ( ii ) april 24 , 2015 , as such date may be extended pursuant to the merger agreement or ( iii ) termination of the merger agreement . we and certain of our wholly owned foreign subsidiaries are the borrowers under the senior credit facility . borrowings under the senior credit facility bear interest at floating rates based upon indices determined by the currency of the borrowings plus an applicable margin determined by reference to our senior unsecured long-term credit rating , or at an alternate base rate , or , in the case of borrowings under the multicurrency revolving facility only , at a fixed-rate determined through a competitive bid process . the senior credit facility contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets . financial covenants include a consolidated indebtedness to consolidated ebitda ratio of no greater than 3.0 to 1.0 in periods prior to any term loan funding and no greater than 5.0 to 1.0 in periods after the term loan is funded . if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends . we were in compliance with all covenants under the senior credit facility as of december 31 , 2014. commitments under the senior credit facility are subject to certain fees . on the multicurrency revolving facility , we pay a facility fee at a rate determined by reference to our senior unsecured long-term credit rating . on the term loan , we pay a fee on the daily actual unused commitment for the period from and including july 23 , 2014 through the day the commitments under the term loan terminate . the bridge credit agreement is a 364-day unsecured committed bridge facility in the principal amount of $ 7.66 billion . funding of loans under the bridge credit agreement is conditioned on , among other things , the consummation of the biomet merger . any loans under the bridge credit agreement will mature 364 days after the funding date of the loans . the bridge credit agreement requires us to reduce unused commitments and prepay the loans with any net cash proceeds received from specified asset sales , issuances or sales of equity and incurrences of borrowed money indebtedness , such as new senior notes we intend to issue , subject to certain exceptions . commitments under the bridge credit agreement automatically terminate on the earliest to occur of : ( i ) the funding and disbursement of the loans , ( ii ) april 24 , 2015 , as such date may be extended pursuant to the merger agreement , or ( iii ) termination of the merger agreement . proceeds of loans under the bridge credit agreement may only be used to fund , in part , the biomet merger , including the payment of any indebtedness of lvb and its subsidiaries , and to pay all or a portion of the costs incurred by us in connection with the biomet merger . zimmer holdings is the borrower under the bridge credit agreement . borrowings under the bridge credit agreement bear interest at floating rates based upon libor plus an applicable margin determined by reference to our senior unsecured long-term credit rating , or at an alternate base rate . the bridge credit agreement contains customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets . financial covenants include a consolidated indebtedness to consolidated ebitda ratio of no greater than 5.0 to 1.0. we were in compliance with all covenants under the bridge credit agreement as of december 31 , 2014. if our credit rating falls below investment grade , additional restrictions would result , including restrictions on investments and payment of dividends . we will pay a funding fee if we borrow under the bridge credit

