this was offset by a decline in commercial vehicle sales and unfavorable currency effects . lower commercial vehicle sales reflected weakness in the construction and heavy truck markets . currency effects reduced sales by $ 5.0 million in 2012 compared to 2011 primarily due to the weaker euro . excluding incremental sales from acquisitions and currency effects , automotive sales increased $ 0.7 million or less than 1 % year over year . 22 the decrease in electronics sales reflected slowing demand across all geographies . there was weakness in the telecom , pc and tv end markets in addition to distributor channel inventory de-stocking . in addition , sales were negatively impacted by net unfavorable currency effects of $ 3.2 million , primarily from sales denominated in euros and korean won . the increase in electrical sales was due to continued strong growth for protection relays and custom mining products , an upturn in solar sales reflecting the success of new products , and improvement in the industrial fuse market . the electrical business segment also had $ 3.7 million in incremental sales from the selco acquisition in 2011. the electrical segment experienced net unfavorable currency effects of $ 1.2 million primarily from sales denominated in canadian dollars . excluding incremental sales from acquisitions and currency effects , electrical sales increased $ 16.8 million or 15 % year over year . on a geographic basis , sales in the americas increased $ 15.0 million or 5 % in 2012 as compared to 2011. this increase resulted from an increase in the company 's automotive and electrical business segments offset by a decline in the electronics business segment . automotive sales increased $ 1.7 million or 2 % primarily reflecting incremental sales from terra power . excluding the acquisition , automotive sales were essentially flat year-over-year as growth in the passenger vehicle market was offset by declines in the commercial vehicle market . electrical sales increased $ 15.5 million or 15 % resulting from increases in demand for protection relays , custom products and industrial power fuses . electronics sales decreased $ 2.2 million or 2 % primarily reflecting inventory de-stocking . the americas region also experienced $ 0.9 million in unfavorable currency effects resulting from sales denominated in canadian dollars . european sales decreased $ 7.4 million or 6 % in 2012 compared to 2011. this resulted from decreases in the company 's electronics and automotive business segments offset by an increase in the electrical business segment . automotive sales decreased $ 0.4 million or less than 1 % in 2012 primarily reflecting lower demand in the passenger vehicle markets . excluding the impact of incremental sales from acquisitions and unfavorable currency effects , primarily from a weaker euro , automotive sales declined $ 6.5 million or 10 % . electronics sales decreased $ 10.3 million or 24 % reflecting lower demand resulting from a weaker economy during 2012. electrical sales increased $ 3.3 million or 63 % primarily from the incremental sales of selco . excluding incremental sales and currency effects , electrical sales increased $ 0.1 million or 2 % year-over-year . overall european sales in 2012 included unfavorable currency effects of $ 8.6 million , resulting primarily from sales denominated in euros . asia-pacific sales decreased $ 4.7 million or 2 % in 2012 compared to 2011. this decrease resulted from a decrease in the electronics business segment offset by increases at the company 's automotive and electrical business segments . electronics sales decreased $ 12.5 million or 6 % reflecting slowing end-market demand and inventory de-stocking . automotive sales increased $ 7.4 million or 20 % reflecting continued increased demand for passenger vehicles in the developing asian markets as well as gains in market share . electrical sales increased $ 0.5 million or 9 % . current year results included favorable currency effects of $ 0.1 million resulting from sales denominated in chinese yuan partially offset by sales denominated in korean won and japanese yen . gross profit was $ 258.5 million or 38.7 % of sales in 2012 , compared to $ 256.7 million or 38.6 % of sales in 2011. gross profit in both 2012 and 2011 were negatively impacted by purchase accounting adjustments in cost of sales of $ 0.6 million and $ 4.1 million , respectively . these charges were the additional cost of goods sold for accel and selco inventory which had been stepped-up to fair value at the acquisition dates as required by purchase accounting rules . excluding the impact of these charges , gross profit was $ 259.1 million or 38.8 % of sales for 2012 as compared to $ 260.8 million or 39.2 % of sales in 2011. the decline in gross margin was primarily attributable to the unfavorable impact of currency effects on sales as described above . 23 total operating expense was $ 151.6 million or 22.7 % of net sales for 2012 compared to $ 142.8 million or 21.5 % of net sales for 2011. the increase in operating expenses primarily reflects incremental operating expenses of $ 6.5 million from business acquisitions and $ 5.1 million in charges related to the settlement of pension liabilities for certain former employees . further information regarding the company 's pension settlement charge is provided in note 13 of the notes to consolidated financial statements included in this report . operating income was $ 106.9 million or 16.0 % of net sales in 2012 compared to $ 113.9 million or 17.1 % of net sales in the prior year . the decrease in operating income in the current year was due primarily to the limited sales growth and an increase in costs as described above . interest expense was unchanged at $ 1.7 million in both 2012 and 2011 and is primarily related to the company 's revolving credit facility . story_separator_special_tag if , after assessing the totality of events and circumstances , an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is not impaired , then the entity is not required to take further action . the amendment is effective for annual and interim indefinite-lived asset impairment tests performed for fiscal years beginning after september 15 , 2012. the company believes that adoption of the new guidance will have no effect 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 . 30 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 . 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 debits as a reduction of revenue . the company has a return to stock policy whereby a customer with previous authorization from littelfuse management can return previously purchased goods for full or partial credit . the company establishes an estimated allowance for these returns based on historic activity . sales revenue and cost of sales are reduced to anticipate estimated returns . the company properly meets all of the criteria for recognizing revenue when the right of return exists . specifically , the company meets those requirements because : 1. the company 's selling price is fixed or determinable at the date of the sale . 2. the company has policies and procedures to accept only credit worthy customers with the ability to pay the company . 3. the company 's customers are obligated to pay the company under the contract and the obligation is not contingent on the resale of the product . ( all “ ship and debit ” and “ returns to stock ” require specific circumstances and authorization . ) 31 4. the risk ownership transfers to the company 's customers upon shipment and is not changed in the event of theft , physical destruction or damage of the product . 5. the company bills at the ship date and establishes a reserve to reduce revenue from the in-transit time until the product is delivered for fob destination sales . 6. the company 's customers acquiring the product for resale have economic substance apart from that provided by littelfuse . all distributors are independent of the company . 7. the company does not have any obligations for future performance to bring about resale of the product by its customers . 8. the company can reasonably estimate the amount of future returns . volume rebates : the company offers incentives to certain customers to achieve specific quarterly or annual sales targets . if customers achieve their sales targets , they are

cash flows and working capital the company started 2012 with $ 164.0 million of cash . net cash provided by operating activities in 2012 was approximately $ 116.2 million and included $ 75.3 million in net income and $ 46.0 million in non-cash adjustments ( primarily $ 31.4 million in depreciation and amortization ) , partially offset by $ 5.2 million of changes in operating assets and liabilities . changes in operating assets and liabilities in 2012 ( including short-term and long-term items ) that negatively impacted cash flows in 2012 consisted of changes in accounts receivable ( $ 1.6 million ) , accrued expenses including post-retirement ( $ 9.6 million ) , accrued payroll and severance ( $ 4.4 million ) , accrued taxes ( $ 0.4 million ) , and prepaid expenses and other ( less than $ 0.1 million ) . accrued expenses including post-retirement included $ 10.0 million in pension contributions in 2012. positively impacting cash flows were changes in inventory ( $ 5.4 million ) and accounts payable ( $ 5.4 million ) . net cash used in investing activities in 2012 was approximately $ 51.7 million and included $ 22.5 million in purchases of property , plant and equipment ( primarily production equipment for capacity expansion and new products at the company 's facilities in mexico , china and the philippines ) , $ 4.6 million for purchases of short-term investments , $ 34.0 million for the acquisitions of accel and terra power , a $ 2.0 million secured loan to and $ 10.0 million of additional investment in shocking technologies . offsetting the cash used in investing activities was $ 3.7 million in proceeds from sales of property , plant and equipment and $ 17.8 million in proceeds from maturities of short-term investments .


 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 2012 with $ 164.0 million of cash . net cash provided by operating activities in 2012 was approximately $ 116.2 million and included $ 75.3 million in net income and $ 46.0 million in non-cash adjustments ( primarily $ 31.4 million in depreciation and amortization ) , partially offset by $ 5.2 million of changes in operating assets and liabilities . changes in operating assets and liabilities in 2012 ( including short-term and long-term items ) that negatively impacted cash flows in 2012 consisted of changes in accounts receivable ( $ 1.6 million ) , accrued expenses including post-retirement ( $ 9.6 million ) , accrued payroll and severance ( $ 4.4 million ) , accrued taxes ( $ 0.4 million ) , and prepaid expenses and other ( less than $ 0.1 million ) . accrued expenses including post-retirement included $ 10.0 million in pension contributions in 2012. positively impacting cash flows were changes in inventory ( $ 5.4 million ) and accounts payable ( $ 5.4 million ) . net cash used in investing activities in 2012 was approximately $ 51.7 million and included $ 22.5 million in purchases of property , plant and equipment ( primarily production equipment for capacity expansion and new products at the company 's facilities in mexico , china and the philippines ) , $ 4.6 million for purchases of short-term investments , $ 34.0 million for the acquisitions of accel and terra power , a $ 2.0 million secured loan to and $ 10.0 million of additional investment in shocking technologies . offsetting the cash used in investing activities was $ 3.7 million in proceeds from sales of property , plant and equipment and $ 17.8 million in proceeds from maturities of short-term investments .
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 Suspicious Activity Report : this was offset by a decline in commercial vehicle sales and unfavorable currency effects . lower commercial vehicle sales reflected weakness in the construction and heavy truck markets . currency effects reduced sales by $ 5.0 million in 2012 compared to 2011 primarily due to the weaker euro . excluding incremental sales from acquisitions and currency effects , automotive sales increased $ 0.7 million or less than 1 % year over year . 22 the decrease in electronics sales reflected slowing demand across all geographies . there was weakness in the telecom , pc and tv end markets in addition to distributor channel inventory de-stocking . in addition , sales were negatively impacted by net unfavorable currency effects of $ 3.2 million , primarily from sales denominated in euros and korean won . the increase in electrical sales was due to continued strong growth for protection relays and custom mining products , an upturn in solar sales reflecting the success of new products , and improvement in the industrial fuse market . the electrical business segment also had $ 3.7 million in incremental sales from the selco acquisition in 2011. the electrical segment experienced net unfavorable currency effects of $ 1.2 million primarily from sales denominated in canadian dollars . excluding incremental sales from acquisitions and currency effects , electrical sales increased $ 16.8 million or 15 % year over year . on a geographic basis , sales in the americas increased $ 15.0 million or 5 % in 2012 as compared to 2011. this increase resulted from an increase in the company 's automotive and electrical business segments offset by a decline in the electronics business segment . automotive sales increased $ 1.7 million or 2 % primarily reflecting incremental sales from terra power . excluding the acquisition , automotive sales were essentially flat year-over-year as growth in the passenger vehicle market was offset by declines in the commercial vehicle market . electrical sales increased $ 15.5 million or 15 % resulting from increases in demand for protection relays , custom products and industrial power fuses . electronics sales decreased $ 2.2 million or 2 % primarily reflecting inventory de-stocking . the americas region also experienced $ 0.9 million in unfavorable currency effects resulting from sales denominated in canadian dollars . european sales decreased $ 7.4 million or 6 % in 2012 compared to 2011. this resulted from decreases in the company 's electronics and automotive business segments offset by an increase in the electrical business segment . automotive sales decreased $ 0.4 million or less than 1 % in 2012 primarily reflecting lower demand in the passenger vehicle markets . excluding the impact of incremental sales from acquisitions and unfavorable currency effects , primarily from a weaker euro , automotive sales declined $ 6.5 million or 10 % . electronics sales decreased $ 10.3 million or 24 % reflecting lower demand resulting from a weaker economy during 2012. electrical sales increased $ 3.3 million or 63 % primarily from the incremental sales of selco . excluding incremental sales and currency effects , electrical sales increased $ 0.1 million or 2 % year-over-year . overall european sales in 2012 included unfavorable currency effects of $ 8.6 million , resulting primarily from sales denominated in euros . asia-pacific sales decreased $ 4.7 million or 2 % in 2012 compared to 2011. this decrease resulted from a decrease in the electronics business segment offset by increases at the company 's automotive and electrical business segments . electronics sales decreased $ 12.5 million or 6 % reflecting slowing end-market demand and inventory de-stocking . automotive sales increased $ 7.4 million or 20 % reflecting continued increased demand for passenger vehicles in the developing asian markets as well as gains in market share . electrical sales increased $ 0.5 million or 9 % . current year results included favorable currency effects of $ 0.1 million resulting from sales denominated in chinese yuan partially offset by sales denominated in korean won and japanese yen . gross profit was $ 258.5 million or 38.7 % of sales in 2012 , compared to $ 256.7 million or 38.6 % of sales in 2011. gross profit in both 2012 and 2011 were negatively impacted by purchase accounting adjustments in cost of sales of $ 0.6 million and $ 4.1 million , respectively . these charges were the additional cost of goods sold for accel and selco inventory which had been stepped-up to fair value at the acquisition dates as required by purchase accounting rules . excluding the impact of these charges , gross profit was $ 259.1 million or 38.8 % of sales for 2012 as compared to $ 260.8 million or 39.2 % of sales in 2011. the decline in gross margin was primarily attributable to the unfavorable impact of currency effects on sales as described above . 23 total operating expense was $ 151.6 million or 22.7 % of net sales for 2012 compared to $ 142.8 million or 21.5 % of net sales for 2011. the increase in operating expenses primarily reflects incremental operating expenses of $ 6.5 million from business acquisitions and $ 5.1 million in charges related to the settlement of pension liabilities for certain former employees . further information regarding the company 's pension settlement charge is provided in note 13 of the notes to consolidated financial statements included in this report . operating income was $ 106.9 million or 16.0 % of net sales in 2012 compared to $ 113.9 million or 17.1 % of net sales in the prior year . the decrease in operating income in the current year was due primarily to the limited sales growth and an increase in costs as described above . interest expense was unchanged at $ 1.7 million in both 2012 and 2011 and is primarily related to the company 's revolving credit facility . story_separator_special_tag if , after assessing the totality of events and circumstances , an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is not impaired , then the entity is not required to take further action . the amendment is effective for annual and interim indefinite-lived asset impairment tests performed for fiscal years beginning after september 15 , 2012. the company believes that adoption of the new guidance will have no effect 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 . 30 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 . 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 debits as a reduction of revenue . the company has a return to stock policy whereby a customer with previous authorization from littelfuse management can return previously purchased goods for full or partial credit . the company establishes an estimated allowance for these returns based on historic activity . sales revenue and cost of sales are reduced to anticipate estimated returns . the company properly meets all of the criteria for recognizing revenue when the right of return exists . specifically , the company meets those requirements because : 1. the company 's selling price is fixed or determinable at the date of the sale . 2. the company has policies and procedures to accept only credit worthy customers with the ability to pay the company . 3. the company 's customers are obligated to pay the company under the contract and the obligation is not contingent on the resale of the product . ( all “ ship and debit ” and “ returns to stock ” require specific circumstances and authorization . ) 31 4. the risk ownership transfers to the company 's customers upon shipment and is not changed in the event of theft , physical destruction or damage of the product . 5. the company bills at the ship date and establishes a reserve to reduce revenue from the in-transit time until the product is delivered for fob destination sales . 6. the company 's customers acquiring the product for resale have economic substance apart from that provided by littelfuse . all distributors are independent of the company . 7. the company does not have any obligations for future performance to bring about resale of the product by its customers . 8. the company can reasonably estimate the amount of future returns . volume rebates : the company offers incentives to certain customers to achieve specific quarterly or annual sales targets . if customers achieve their sales targets , they are

