the increase in electrical sales was due to continued strong growth for protection relays and custom products driven primarily by strength in the potash mining market . additionally , electrical fuse products realized steady improvement in demand as the industrial market continued to recover in 2010. the electrical segment experienced net favorable currency effects of $ 3.6 million primarily from sales denominated in the canadian dollar . on a geographic basis , sales in the americas increased $ 61.6 million or 37 % in 2010 compared to 2009. this increase resulted from increases at all three of the company 's business segments . automotive sales increased $ 8.1 million or 23 % primarily reflecting recovery in the passenger vehicle market . electronics sales increased $ 35.3 million or 55 % reflecting strong end market demand and distributor restocking . electrical sales increased $ 18.2 million or 27 % resulting from an increase in demand for protection relays , custom products and power fuses . the americas region also experienced $ 3.6 million in favorable currency effects resulting from sales denominated in the canadian dollar . europe sales increased $ 31.7 million or 38 % in 2010 compared to 2009. this increase resulted from increases at all three of the company 's business segments . automotive sales increased $ 13.4 million or 29 % reflecting strong end market demand and increased production resulting from the economic recovery in europe during 2010. electronics sales increased $ 18.0 million or 48 % reflecting strong end market demand and distributor inventory replenishment . electrical sales increased $ 0.3 million . current year results included unfavorable currency effects of $ 5.6 million , reflecting a weaker euro in 2010. asia-pacific sales increased $ 84.6 million or 47 % in 2010 compared to 2009. this increase resulted from increases at all three of the company 's business segments . automotive sales increased $ 10.4 million or 59 % reflecting continued increased demand for passenger vehicles in the developing asian markets as well as gains in market share . electronics sales increased $ 73.6 million or 46 % primarily reflecting growth in demand for consumer products and restocking by distributors . electrical sales increased $ 0.6 million or 41 % . current year results included favorable currency translation effects of $ 3.2 million primarily due to the impact of a stronger japanese yen and korean won . gross profit was $ 233.9 million or 38.5 % of sales in 2010 , compared to $ 125.4 million or 29.1 % of sales in 2009. the increase in gross profit margin percentage in 2010 resulted from operating leverage on higher sales , an improved cost structure due to consolidation of manufacturing facilities and the impact of restructuring activities in 2009. the company recorded approximately $ 4.2 million of restructuring charges in cost of sales in 2009 due primarily to the reorganization of the company 's european and asian operations . the european restructuring charges included the transfer of its manufacturing operations from dünsen , germany , to piedras negras , mexico . the asian restructuring included the planned closure of a manufacturing facility in taiwan . 23 the company continues to focus heavily on research and development ( r & d ) to develop new solutions for customers and expand product offerings . during 2010 , the company continued moving r & d operations to lower cost locations closer to its customers . r & d operations are now in canada , china , germany , the philippines and mexico , as well as the united states . total operating expense was $ 126.3 million or 20.8 % of net sales for 2010 compared to $ 111.7 million or 26.0 % of net sales for 2009. the increase in operating expenses primarily reflects the increased cost of company incentive programs driven by significantly improved financial performance in 2010. higher transportation costs driven by higher sales volumes also contributed to the increase in operating expenses . operating expenses as a percentage of sales improved in 2010 as compared to 2009 as a result of cost reduction plans initiated in 2009 resulting in improved operating efficiencies across the company . operating income was $ 107.6 million or 17.7 % of net sales in 2010 compared to $ 13.7 million or 3.2 % of net sales in the prior year . the increase in operating income in the current year was due primarily to the increase in sales and reduction in costs as described above . interest expense , net , decreased to $ 1.4 million in 2010 compared to $ 2.4 million for 2009 primarily due to lower borrowing in 2010. other expense ( income ) , net , consisting of interest income , royalties , non-operating income and foreign currency items , was $ 1.5 million of income in 2010 compared to $ 0.5 million of expense in 2009. the increase reflected a favorable net change of approximately $ 1.3 million in foreign currency translation effects primarily due to the strengthening of the philippine peso and mexican peso against the u.s. dollar . income before income taxes was $ 107.7 million in 2010 compared to $ 10.8 million in 2009. income tax expense was $ 29.0 million in 2010 compared to $ 1.4 million in 2009. the 2010 effective income tax rate was 27.0 % compared to 13.2 % in 2009. the increase in the 2010 effective tax rate reflects more income earned in high tax jurisdictions in 2010 ( primarily the u.s. ) as well as the favorable effects of one-time tax adjustments in 2009. results of operations — 2009 compared with 2008 net sales decreased in 2009 to $ 430.1 million compared to $ 530.9 million in 2008. these results reflected sales declines in the automotive segment of $ 28.4 million or 22 % to $ 98.5 million , along with a decrease in sales in the electronics segment of $ 79.5 million or 23 % to $ story_separator_special_tag in december 2010 , the fasb issued authoritative guidance related to disclosure of supplementary pro forma information for business combinations . the guidance specified that if a public entity presents comparative financial statements , the entity should disclose revenue and earnings of the combined entity as though the business combination ( s ) that occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only . the amendments also expand the supplemental pro forma disclosures to include a description of the nature and amount of material , nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings . the guidance is effective prospectively for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2010. the company does not believe that the adoption of this new guidance will have a material impact on its consolidated financial statements . 30 in december 2010 , the fasb issued an authoritative guidance describing when to perform step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts . the amendments in this guidance modify step 1 of the goodwill impairment test for reporting units with zero or negative carrying amounts . for those reporting units , an entity is required to perform step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists . in determining whether it is more likely than not that goodwill impairment exists , an entity should consider whether there are any adverse qualitative factors indicating that impairment may exist . the qualitative factors are consistent with the existing guidance and examples , which require that goodwill of a reporting unit be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount . for public entities , the amendments in this guidance are effective for fiscal years , and interim periods within those years , beginning after december 15 , 2010. early adoption is not permitted . the company expects to adopt this new guidance effective the beginning of fiscal year 2011 , and does not expect it to have a material impact on its consolidated financial statements . critical accounting policies and estimates certain of the accounting policies as discussed below require the application of significant judgment by management in selecting the appropriate estimates and assumptions for calculating amounts to record in the financial statements . actual results could differ from those estimates and assumptions , impacting the reported results of operations and financial position . significant accounting policies are more fully described in the notes to consolidated financial statements included elsewhere in this annual report . certain accounting policies , however , are considered to be critical in that they are most important to the depiction of the company 's financial condition and results of operations and their application requires management 's subjective judgment in making estimates about the effect of matters that are inherently uncertain . the company believes the following accounting policies are the most critical to aid in fully understanding and evaluating its reported financial results , as they require management 's most difficult , subjective or complex judgments , resulting from the need to make estimates about the effect of matters that are inherently uncertain . the company has reviewed these critical accounting policies and related disclosures with the audit committee of its board of directors . net sales revenue recognition : the company recognizes revenue on product sales in the period in which the sales process is complete . this generally occurs when products are shipped ( fob origin ) to the customer in accordance with the terms of the sale , the risk of loss has been transferred , collectability is reasonably assured and the pricing is fixed and determinable . at the end of each period , for those shipments where title to the products and the risk of loss and rewards of ownership do not transfer until the product has been received by the customer , the company adjusts revenues and cost of sales for the delay between the time that the products are shipped and when they are received by the customer . the company 's distribution channels are primarily through direct sales and independent third party distributors . revenue and billing : the company accepts orders from customers based on long term purchasing contracts and written sales agreements . contract pricing and selling agreement terms are based on market factors , costs and competition . pricing normally is negotiated as an adjustment ( premium or discount ) from the company 's published price lists . the customer is invoiced when the company 's products are shipped to them in accordance with the terms of the sales agreement . 31 returns and credits : some of the terms of the company 's sales agreements and normal business conditions provide customers ( distributors ) the ability to receive price adjustments on products previously shipped and invoiced . this practice is common in the industry and is referred to as a “ ship and debit ” program . this program allows the distributor to debit the company for the difference between the distributors ' contracted price and a lower price for specific transactions . under certain circumstances ( usually in a competitive situation or large volume opportunity ) , a distributor will request authorization to reduce its price to its buyer . if the company approves such a reduction , the distributor is authorized to “ debit ” its account for the difference between the contracted price and the lower approved price . the company establishes reserves for this program based on historic activity and actual authorizations for the debit and recognizes these

cash flows and working capital the company started 2010 with $ 70.4 million of cash . net cash provided by operating activities in 2010 was approximately $ 104.1 million in the year and included $ 78.7 million in net income and $ 46.1 million in non-cash adjustments ( primarily $ 32.0 million in depreciation and amortization ) , partially offset by $ 20.7 million of changes in operating assets and liabilities . changes in various operating assets and liabilities ( including short-term and long-term items ) that negatively impacted cash flows in 2010 consisted of increases in accounts receivable ( $ 12.8 million ) and inventories ( $ 15.1 million ) , a decrease in accounts payable ( $ 1.8 million ) and accrued expenses ( including post-retirement ) ( $ 13.6 million ) . the increase in accounts receivable result from increased sales activity . the increase in inventory results from increased sales activity and production rates in addition to higher prices for raw materials . additionally , the company made contributions to its domestic and foreign pension plans of $ 16.2 million in 2010. positively impacting cash flows were increases in accrued payroll and severance ( $ 2.4 million ) , accrued taxes ( $ 14.9 million ) , and a decrease in prepaid expenses and other current assets ( $ 5.4 million ) . net cash used in investing activities in 2010 was approximately $ 65.7 million and included $ 22.4 million in purchases of property , plant and equipment ( primarily related to the company 's plant expansion and new facilities in the asia-pacific region ) , and a net $ 48.3 million for the acquisition of cole hersee during the fourth quarter of 2010 , partially offset by $ 5.0 million in cash receipts from the sale of property , plant and equipment . the majority of the receipts from asset sales resulted from the sale of the company 's land and building at its utrecht , netherlands location .


 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 flows and working capital the company started 2010 with $ 70.4 million of cash . net cash provided by operating activities in 2010 was approximately $ 104.1 million in the year and included $ 78.7 million in net income and $ 46.1 million in non-cash adjustments ( primarily $ 32.0 million in depreciation and amortization ) , partially offset by $ 20.7 million of changes in operating assets and liabilities . changes in various operating assets and liabilities ( including short-term and long-term items ) that negatively impacted cash flows in 2010 consisted of increases in accounts receivable ( $ 12.8 million ) and inventories ( $ 15.1 million ) , a decrease in accounts payable ( $ 1.8 million ) and accrued expenses ( including post-retirement ) ( $ 13.6 million ) . the increase in accounts receivable result from increased sales activity . the increase in inventory results from increased sales activity and production rates in addition to higher prices for raw materials . additionally , the company made contributions to its domestic and foreign pension plans of $ 16.2 million in 2010. positively impacting cash flows were increases in accrued payroll and severance ( $ 2.4 million ) , accrued taxes ( $ 14.9 million ) , and a decrease in prepaid expenses and other current assets ( $ 5.4 million ) . net cash used in investing activities in 2010 was approximately $ 65.7 million and included $ 22.4 million in purchases of property , plant and equipment ( primarily related to the company 's plant expansion and new facilities in the asia-pacific region ) , and a net $ 48.3 million for the acquisition of cole hersee during the fourth quarter of 2010 , partially offset by $ 5.0 million in cash receipts from the sale of property , plant and equipment . the majority of the receipts from asset sales resulted from the sale of the company 's land and building at its utrecht , netherlands location .
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 Suspicious Activity Report : the increase in electrical sales was due to continued strong growth for protection relays and custom products driven primarily by strength in the potash mining market . additionally , electrical fuse products realized steady improvement in demand as the industrial market continued to recover in 2010. the electrical segment experienced net favorable currency effects of $ 3.6 million primarily from sales denominated in the canadian dollar . on a geographic basis , sales in the americas increased $ 61.6 million or 37 % in 2010 compared to 2009. this increase resulted from increases at all three of the company 's business segments . automotive sales increased $ 8.1 million or 23 % primarily reflecting recovery in the passenger vehicle market . electronics sales increased $ 35.3 million or 55 % reflecting strong end market demand and distributor restocking . electrical sales increased $ 18.2 million or 27 % resulting from an increase in demand for protection relays , custom products and power fuses . the americas region also experienced $ 3.6 million in favorable currency effects resulting from sales denominated in the canadian dollar . europe sales increased $ 31.7 million or 38 % in 2010 compared to 2009. this increase resulted from increases at all three of the company 's business segments . automotive sales increased $ 13.4 million or 29 % reflecting strong end market demand and increased production resulting from the economic recovery in europe during 2010. electronics sales increased $ 18.0 million or 48 % reflecting strong end market demand and distributor inventory replenishment . electrical sales increased $ 0.3 million . current year results included unfavorable currency effects of $ 5.6 million , reflecting a weaker euro in 2010. asia-pacific sales increased $ 84.6 million or 47 % in 2010 compared to 2009. this increase resulted from increases at all three of the company 's business segments . automotive sales increased $ 10.4 million or 59 % reflecting continued increased demand for passenger vehicles in the developing asian markets as well as gains in market share . electronics sales increased $ 73.6 million or 46 % primarily reflecting growth in demand for consumer products and restocking by distributors . electrical sales increased $ 0.6 million or 41 % . current year results included favorable currency translation effects of $ 3.2 million primarily due to the impact of a stronger japanese yen and korean won . gross profit was $ 233.9 million or 38.5 % of sales in 2010 , compared to $ 125.4 million or 29.1 % of sales in 2009. the increase in gross profit margin percentage in 2010 resulted from operating leverage on higher sales , an improved cost structure due to consolidation of manufacturing facilities and the impact of restructuring activities in 2009. the company recorded approximately $ 4.2 million of restructuring charges in cost of sales in 2009 due primarily to the reorganization of the company 's european and asian operations . the european restructuring charges included the transfer of its manufacturing operations from dünsen , germany , to piedras negras , mexico . the asian restructuring included the planned closure of a manufacturing facility in taiwan . 23 the company continues to focus heavily on research and development ( r & d ) to develop new solutions for customers and expand product offerings . during 2010 , the company continued moving r & d operations to lower cost locations closer to its customers . r & d operations are now in canada , china , germany , the philippines and mexico , as well as the united states . total operating expense was $ 126.3 million or 20.8 % of net sales for 2010 compared to $ 111.7 million or 26.0 % of net sales for 2009. the increase in operating expenses primarily reflects the increased cost of company incentive programs driven by significantly improved financial performance in 2010. higher transportation costs driven by higher sales volumes also contributed to the increase in operating expenses . operating expenses as a percentage of sales improved in 2010 as compared to 2009 as a result of cost reduction plans initiated in 2009 resulting in improved operating efficiencies across the company . operating income was $ 107.6 million or 17.7 % of net sales in 2010 compared to $ 13.7 million or 3.2 % of net sales in the prior year . the increase in operating income in the current year was due primarily to the increase in sales and reduction in costs as described above . interest expense , net , decreased to $ 1.4 million in 2010 compared to $ 2.4 million for 2009 primarily due to lower borrowing in 2010. other expense ( income ) , net , consisting of interest income , royalties , non-operating income and foreign currency items , was $ 1.5 million of income in 2010 compared to $ 0.5 million of expense in 2009. the increase reflected a favorable net change of approximately $ 1.3 million in foreign currency translation effects primarily due to the strengthening of the philippine peso and mexican peso against the u.s. dollar . income before income taxes was $ 107.7 million in 2010 compared to $ 10.8 million in 2009. income tax expense was $ 29.0 million in 2010 compared to $ 1.4 million in 2009. the 2010 effective income tax rate was 27.0 % compared to 13.2 % in 2009. the increase in the 2010 effective tax rate reflects more income earned in high tax jurisdictions in 2010 ( primarily the u.s. ) as well as the favorable effects of one-time tax adjustments in 2009. results of operations — 2009 compared with 2008 net sales decreased in 2009 to $ 430.1 million compared to $ 530.9 million in 2008. these results reflected sales declines in the automotive segment of $ 28.4 million or 22 % to $ 98.5 million , along with a decrease in sales in the electronics segment of $ 79.5 million or 23 % to $ story_separator_special_tag in december 2010 , the fasb issued authoritative guidance related to disclosure of supplementary pro forma information for business combinations . the guidance specified that if a public entity presents comparative financial statements , the entity should disclose revenue and earnings of the combined entity as though the business combination ( s ) that occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only . the amendments also expand the supplemental pro forma disclosures to include a description of the nature and amount of material , nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings . the guidance is effective prospectively for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after december 15 , 2010. the company does not believe that the adoption of this new guidance will have a material impact on its consolidated financial statements . 30 in december 2010 , the fasb issued an authoritative guidance describing when to perform step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts . the amendments in this guidance modify step 1 of the goodwill impairment test for reporting units with zero or negative carrying amounts . for those reporting units , an entity is required to perform step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists . in determining whether it is more likely than not that goodwill impairment exists , an entity should consider whether there are any adverse qualitative factors indicating that impairment may exist . the qualitative factors are consistent with the existing guidance and examples , which require that goodwill of a reporting unit be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount . for public entities , the amendments in this guidance are effective for fiscal years , and interim periods within those years , beginning after december 15 , 2010. early adoption is not permitted . the company expects to adopt this new guidance effective the beginning of fiscal year 2011 , and does not expect it to have a material impact on its consolidated financial statements . critical accounting policies and estimates certain of the accounting policies as discussed below require the application of significant judgment by management in selecting the appropriate estimates and assumptions for calculating amounts to record in the financial statements . actual results could differ from those estimates and assumptions , impacting the reported results of operations and financial position . significant accounting policies are more fully described in the notes to consolidated financial statements included elsewhere in this annual report . certain accounting policies , however , are considered to be critical in that they are most important to the depiction of the company 's financial condition and results of operations and their application requires management 's subjective judgment in making estimates about the effect of matters that are inherently uncertain . the company believes the following accounting policies are the most critical to aid in fully understanding and evaluating its reported financial results , as they require management 's most difficult , subjective or complex judgments , resulting from the need to make estimates about the effect of matters that are inherently uncertain . the company has reviewed these critical accounting policies and related disclosures with the audit committee of its board of directors . net sales revenue recognition : the company recognizes revenue on product sales in the period in which the sales process is complete . this generally occurs when products are shipped ( fob origin ) to the customer in accordance with the terms of the sale , the risk of loss has been transferred , collectability is reasonably assured and the pricing is fixed and determinable . at the end of each period , for those shipments where title to the products and the risk of loss and rewards of ownership do not transfer until the product has been received by the customer , the company adjusts revenues and cost of sales for the delay between the time that the products are shipped and when they are received by the customer . the company 's distribution channels are primarily through direct sales and independent third party distributors . revenue and billing : the company accepts orders from customers based on long term purchasing contracts and written sales agreements . contract pricing and selling agreement terms are based on market factors , costs and competition . pricing normally is negotiated as an adjustment ( premium or discount ) from the company 's published price lists . the customer is invoiced when the company 's products are shipped to them in accordance with the terms of the sales agreement . 31 returns and credits : some of the terms of the company 's sales agreements and normal business conditions provide customers ( distributors ) the ability to receive price adjustments on products previously shipped and invoiced . this practice is common in the industry and is referred to as a “ ship and debit ” program . this program allows the distributor to debit the company for the difference between the distributors ' contracted price and a lower price for specific transactions . under certain circumstances ( usually in a competitive situation or large volume opportunity ) , a distributor will request authorization to reduce its price to its buyer . if the company approves such a reduction , the distributor is authorized to “ debit ” its account for the difference between the contracted price and the lower approved price . the company establishes reserves for this program based on historic activity and actual authorizations for the debit and recognizes these

