as a result , we do not include in our financial statements the results of operations of these dealerships prior to the date we acquired them , which may impact the comparability of the financial information presented . also , as a result of the effects of our acquisitions , dispositions , and other potential factors in the future , our historical financial information is not necessarily indicative of our results of operations and financial position in the future or the results of operations and financial position that would have resulted had such transactions occurred at the beginning of the periods presented . our operating results reflect the combined performance of each of our interrelated business activities , which include the sale of new vehicles , used vehicles , finance and insurance products , and parts , as well as service and collision repair services . historically , each of these activities has been directly or indirectly impacted by a variety of supply/demand factors , including vehicle inventories , consumer confidence , consumer discretionary spending , availability and affordability of consumer credit , manufacturer incentives , weather patterns , fuel prices , and interest rates . for example , during periods of sustained economic downturn or significant supply/demand imbalances , new vehicle sales may be negatively impacted as consumers tend to shift their purchases to used vehicles . some consumers may even delay their purchasing decisions altogether , electing instead to repair their existing vehicles . in such cases , however , we believe the new vehicle sales impact on our overall business is mitigated by our ability to offer other products and services , such as used vehicles and parts , service and collision repair services , as well as our ability to reduce our costs in response to lower sales . our results of operations depend substantially on general economic conditions and spending habits in those regions of the u.s. where we maintain most of our operations . with the recent decline in commodity prices , which have led to significant declines in the price of gasoline , we may experience increased sales in regions not directly affected by the oil and gas economy . 36 in the u.s. , we generally experience higher volumes of vehicle sales and service in the second and third calendar quarters of each year . this seasonality is generally attributable to consumer buying trends and the timing of manufacturer new vehicle model introductions . in addition , in some regions of the u.s. , vehicle purchases decline during the winter months due to inclement weather . as a result , our u.s. revenues and operating income are typically lower in the first and fourth quarters and higher in the second and third quarters . for the u.k. , the first and third calendar quarters tend to be stronger , driven by plate change months of march and september . for brazil , we expect higher volumes in the third and fourth calendar quarters ; however , the first quarter is the weakest , driven by heavy vacations and activities associated with carnival . other factors unrelated to seasonality , such as changes in economic condition and manufacturer incentive programs , may exaggerate seasonal or cause counter-seasonal fluctuations in our revenues and operating income . according to u.s. industry experts , the annual new light vehicle unit sales for 2014 increased 918 thousand units , or 5.9 % , to 16.5 million units , compared to 15.6 million units in 2013 . the u.k. economy represents the sixth largest economy in the world . the u.k. remained the second largest market in the eu , surpassing the region 's 5.7 % average growth . light vehicle registrations in the u.k. increased 9.3 % to 2.5 million during 2014 as compared to the same period a year ago . brazil represents the seventh largest economy in the world and the fourth largest car market . recently , the brazilian economy has been one of the fastest growing economies in the world . however , the brazilian economy is facing many challenges and is not demonstrating significant growth at the moment . light vehicle industry unit sales in brazil declined 7.6 % during 2014 to 3.3 million as compared to the same period a year ago . and in 2014 , the brazilian economy experienced a rise in inflation and interest rates and a decrease in the value of the brazilian real compared to the u.s. dollar . on a consolidated basis for the year ended december 31 , 2014 , our total revenues increased 11.4 % from 2013 to $ 9.9 billion and gross profit improved 12.0 % to $ 1.4 billion . for the years ended december 31 , 2013 and 2012 , total revenues were $ 8.9 billion and $ 7.5 billion , respectively . for the years ended december 31 , 2013 and 2012 , gross profits were $ 1,292.5 million and $ 1,117.3 million , respectively . we generated net income of $ 93.0 million , or $ 3.60 per diluted common share for the year ended december 31 , 2014 , compared to $ 114.0 million , or $ 4.32 per diluted share for the year ended december 31 , 2013 and $ 100.2 million , or $ 4.19 per diluted share for the year ended december 31 , 2012. in addition to the matters described above , the following factors impacted our financial condition and results of operations in 2014 , 2013 , and 2012 : year ended december 31 , 2014 : extinguishment of long-term debt : during the year , our 2014 results were negatively impacted by the extinguishment of our 2.25 % notes and 3.00 % notes . the aggregate loss for 2014 was $ 46.4 million . story_separator_special_tag recent accounting pronouncements refer to note 2 of our consolidated financial statements , “ summary of significant accounting polices and estimates , ” for a discussion of those most recent pronouncements that impact us . critical accounting policies and accounting estimates the preparation of our financial statements in conformity with accounting principles generally accepted in the united states ( “ gaap ” ) principles requires management to make certain estimates and assumptions . these estimates and assumptions 41 affect the reported amounts of assets and liabilities , the disclosures of contingent assets and liabilities at the balance sheet date and the amounts of revenues and expenses recognized during the reporting period . we analyze our estimates based on our historical experience and various other assumptions that we believe to be reasonable under the circumstances . however , actual results could differ from such estimates . the following is a discussion of our critical accounting estimates and policies . we have identified below what we believe to be the most pervasive accounting policies and estimates that are of particular importance to the portrayal of our financial position , results of operations and cash flows . see note 2 to our consolidated financial statements , “ summary of significant accounting policies and estimates , ” for further discussion of all our significant accounting policies and estimates . revenue recognition . revenues from vehicle sales , parts sales , and vehicle service are recognized upon completion of the sale or service and delivery to the customer . conditions to completing a sale include having an agreement with the customer , including pricing , and the sales price must be reasonably expected to be collected . we include revenues from our collision center operations in parts and services sales . we record the profit we receive for arranging vehicle fleet transactions net in other finance and insurance revenues . since all sales of new vehicles must occur through franchised new vehicle dealerships , the dealerships effectively act as agents for the automobile manufacturers in completing sales of vehicles to fleet customers . as these customers typically order the vehicles , we have no significant general inventory risk . additionally , fleet customers generally receive special purchase incentives from the automobile manufacturers and we receive only a nominal fee for facilitating the transactions . taxes collected from customers and remitted to governmental agencies are not included in total revenues . we arrange financing for customers through various institutions and receive financing fees based on the difference between the loan rates charged to customers and wholesale financing rates set by the financing institution . in addition , we receive fees from the sale of insurance and vehicle service contracts to customers . further , through agreements with certain vehicle service contract administrators , we earn volume incentive rebates and interest income on reserves , as well as participate in the underwriting profits of the products . we may be charged back for unearned financing , insurance contract or vehicle service contract fees in the event of early termination of the contracts by customers . revenues from these fees are recorded at the time of the sale of the vehicles and a reserve for future amounts which might be charged back is established based on our historical chargeback results and the termination provisions of the applicable contracts . while chargeback results vary depending on the type of contract sold , a 10 % increase in the historical chargeback results used in determining estimates of future amounts which might be charged back would have increased the reserve at december 31 , 2014 , by $ 2.9 million . inventories . new , used and demonstrator vehicle inventories are carried at the lower of specific cost or market and are removed from inventory using the specific identification method in the consolidated balance sheets . parts and accessories inventories are valued at lower of cost ( determined on a first-in , first-out basis ) or market in the consolidated balance sheets . vehicle inventory cost consists of the amount paid to acquire the inventory , plus the cost of reconditioning , cost of equipment added and transportation cost . additionally , we receive interest assistance from some of our automobile manufacturers . this assistance is accounted for as a vehicle purchase price discount and is reflected as a reduction to the inventory cost on our consolidated balance sheets and as a reduction to cost of sales in our statements of operations as the vehicles are sold . at december 31 , 2014 and 2013 , inventory cost had been reduced by $ 8.8 million and $ 9.0 million , respectively , for interest assistance received from manufacturers . new vehicle cost of sales was reduced by $ 45.1 million , $ 38.5 million , and $ 33.9 million for interest assistance received related to vehicles sold for the years ended december 31 , 2014 , 2013 , and 2012 , respectively . the assistance over the past three years has ranged from approximately 87.3 % of our quarterly floorplan interest expense in the first quarter of 2013 to 117.7 % for the fourth quarter of 2014. as the market value of inventory typically declines over time , we establish new and used vehicle reserves based on our historical loss experience and considerations of current market trends . these reserves are charged to cost of sales and reduce the carrying value of inventory on hand . used vehicles are complex to value as there is no standardized source for determining exact values and each vehicle and each market in which we operate is unique . as a result , the value of each used vehicle taken at trade-in , or purchased at auction , is determined based on industry data , primarily accessed via our used vehicle management software and the industry expertise of the responsible used vehicle manager . valuation risk is partially mitigated , by the speed at which

cash on hand . as of december 31 , 2014 , our total cash on hand was $ 41.0 million . the balance of cash on hand excludes $ 62.1 million of immediately available funds used to pay down our floorplan lines as of december 31 , 2014. we use the pay down of our floorplan lines as a channel for the short-term investment of excess cash . cash flows . with respect to all new vehicle floorplan borrowings in the normal course of business , the manufacturers of the vehicles draft our credit facilities directly with no cash flow to or from us . with respect to borrowings for used vehicle financing , we finance up to 80 % of the value of our used vehicle inventory in the u.s. , and the funds flow directly to us from the lender . all borrowings from , and repayments to , lenders affiliated with our vehicle manufacturers ( excluding the cash flows from or to manufacturer-affiliated lenders participating in our syndicated lending group ) are presented within cash flows from operating activities on the consolidated statements of cash flows in conformity with u.s. gaap . all borrowings from , and repayments to , the revolving credit facility ( defined below ) ( including the cash flows from or to manufacturer-affiliated lenders participating in the facility ) and other credit facilities in brazil unaffiliated with our manufacturer partners , are presented within cash flows from financing activities in conformity with u.s. gaap . however , the incurrence of all floorplan notes payable represents an activity necessary to acquire inventory for resale , resulting in a trade payable . our decision to utilize our revolving credit facility does not substantially alter the process by which our vehicle inventory is financed , nor does it significantly impact the economics of our vehicle procurement activities . therefore , we believe that all floorplan financing of inventory purchases in the normal course of business should correspond with the related inventory activity and be classified as an operating activity .


 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 on hand . as of december 31 , 2014 , our total cash on hand was $ 41.0 million . the balance of cash on hand excludes $ 62.1 million of immediately available funds used to pay down our floorplan lines as of december 31 , 2014. we use the pay down of our floorplan lines as a channel for the short-term investment of excess cash . cash flows . with respect to all new vehicle floorplan borrowings in the normal course of business , the manufacturers of the vehicles draft our credit facilities directly with no cash flow to or from us . with respect to borrowings for used vehicle financing , we finance up to 80 % of the value of our used vehicle inventory in the u.s. , and the funds flow directly to us from the lender . all borrowings from , and repayments to , lenders affiliated with our vehicle manufacturers ( excluding the cash flows from or to manufacturer-affiliated lenders participating in our syndicated lending group ) are presented within cash flows from operating activities on the consolidated statements of cash flows in conformity with u.s. gaap . all borrowings from , and repayments to , the revolving credit facility ( defined below ) ( including the cash flows from or to manufacturer-affiliated lenders participating in the facility ) and other credit facilities in brazil unaffiliated with our manufacturer partners , are presented within cash flows from financing activities in conformity with u.s. gaap . however , the incurrence of all floorplan notes payable represents an activity necessary to acquire inventory for resale , resulting in a trade payable . our decision to utilize our revolving credit facility does not substantially alter the process by which our vehicle inventory is financed , nor does it significantly impact the economics of our vehicle procurement activities . therefore , we believe that all floorplan financing of inventory purchases in the normal course of business should correspond with the related inventory activity and be classified as an operating activity .
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 Suspicious Activity Report : as a result , we do not include in our financial statements the results of operations of these dealerships prior to the date we acquired them , which may impact the comparability of the financial information presented . also , as a result of the effects of our acquisitions , dispositions , and other potential factors in the future , our historical financial information is not necessarily indicative of our results of operations and financial position in the future or the results of operations and financial position that would have resulted had such transactions occurred at the beginning of the periods presented . our operating results reflect the combined performance of each of our interrelated business activities , which include the sale of new vehicles , used vehicles , finance and insurance products , and parts , as well as service and collision repair services . historically , each of these activities has been directly or indirectly impacted by a variety of supply/demand factors , including vehicle inventories , consumer confidence , consumer discretionary spending , availability and affordability of consumer credit , manufacturer incentives , weather patterns , fuel prices , and interest rates . for example , during periods of sustained economic downturn or significant supply/demand imbalances , new vehicle sales may be negatively impacted as consumers tend to shift their purchases to used vehicles . some consumers may even delay their purchasing decisions altogether , electing instead to repair their existing vehicles . in such cases , however , we believe the new vehicle sales impact on our overall business is mitigated by our ability to offer other products and services , such as used vehicles and parts , service and collision repair services , as well as our ability to reduce our costs in response to lower sales . our results of operations depend substantially on general economic conditions and spending habits in those regions of the u.s. where we maintain most of our operations . with the recent decline in commodity prices , which have led to significant declines in the price of gasoline , we may experience increased sales in regions not directly affected by the oil and gas economy . 36 in the u.s. , we generally experience higher volumes of vehicle sales and service in the second and third calendar quarters of each year . this seasonality is generally attributable to consumer buying trends and the timing of manufacturer new vehicle model introductions . in addition , in some regions of the u.s. , vehicle purchases decline during the winter months due to inclement weather . as a result , our u.s. revenues and operating income are typically lower in the first and fourth quarters and higher in the second and third quarters . for the u.k. , the first and third calendar quarters tend to be stronger , driven by plate change months of march and september . for brazil , we expect higher volumes in the third and fourth calendar quarters ; however , the first quarter is the weakest , driven by heavy vacations and activities associated with carnival . other factors unrelated to seasonality , such as changes in economic condition and manufacturer incentive programs , may exaggerate seasonal or cause counter-seasonal fluctuations in our revenues and operating income . according to u.s. industry experts , the annual new light vehicle unit sales for 2014 increased 918 thousand units , or 5.9 % , to 16.5 million units , compared to 15.6 million units in 2013 . the u.k. economy represents the sixth largest economy in the world . the u.k. remained the second largest market in the eu , surpassing the region 's 5.7 % average growth . light vehicle registrations in the u.k. increased 9.3 % to 2.5 million during 2014 as compared to the same period a year ago . brazil represents the seventh largest economy in the world and the fourth largest car market . recently , the brazilian economy has been one of the fastest growing economies in the world . however , the brazilian economy is facing many challenges and is not demonstrating significant growth at the moment . light vehicle industry unit sales in brazil declined 7.6 % during 2014 to 3.3 million as compared to the same period a year ago . and in 2014 , the brazilian economy experienced a rise in inflation and interest rates and a decrease in the value of the brazilian real compared to the u.s. dollar . on a consolidated basis for the year ended december 31 , 2014 , our total revenues increased 11.4 % from 2013 to $ 9.9 billion and gross profit improved 12.0 % to $ 1.4 billion . for the years ended december 31 , 2013 and 2012 , total revenues were $ 8.9 billion and $ 7.5 billion , respectively . for the years ended december 31 , 2013 and 2012 , gross profits were $ 1,292.5 million and $ 1,117.3 million , respectively . we generated net income of $ 93.0 million , or $ 3.60 per diluted common share for the year ended december 31 , 2014 , compared to $ 114.0 million , or $ 4.32 per diluted share for the year ended december 31 , 2013 and $ 100.2 million , or $ 4.19 per diluted share for the year ended december 31 , 2012. in addition to the matters described above , the following factors impacted our financial condition and results of operations in 2014 , 2013 , and 2012 : year ended december 31 , 2014 : extinguishment of long-term debt : during the year , our 2014 results were negatively impacted by the extinguishment of our 2.25 % notes and 3.00 % notes . the aggregate loss for 2014 was $ 46.4 million . story_separator_special_tag recent accounting pronouncements refer to note 2 of our consolidated financial statements , “ summary of significant accounting polices and estimates , ” for a discussion of those most recent pronouncements that impact us . critical accounting policies and accounting estimates the preparation of our financial statements in conformity with accounting principles generally accepted in the united states ( “ gaap ” ) principles requires management to make certain estimates and assumptions . these estimates and assumptions 41 affect the reported amounts of assets and liabilities , the disclosures of contingent assets and liabilities at the balance sheet date and the amounts of revenues and expenses recognized during the reporting period . we analyze our estimates based on our historical experience and various other assumptions that we believe to be reasonable under the circumstances . however , actual results could differ from such estimates . the following is a discussion of our critical accounting estimates and policies . we have identified below what we believe to be the most pervasive accounting policies and estimates that are of particular importance to the portrayal of our financial position , results of operations and cash flows . see note 2 to our consolidated financial statements , “ summary of significant accounting policies and estimates , ” for further discussion of all our significant accounting policies and estimates . revenue recognition . revenues from vehicle sales , parts sales , and vehicle service are recognized upon completion of the sale or service and delivery to the customer . conditions to completing a sale include having an agreement with the customer , including pricing , and the sales price must be reasonably expected to be collected . we include revenues from our collision center operations in parts and services sales . we record the profit we receive for arranging vehicle fleet transactions net in other finance and insurance revenues . since all sales of new vehicles must occur through franchised new vehicle dealerships , the dealerships effectively act as agents for the automobile manufacturers in completing sales of vehicles to fleet customers . as these customers typically order the vehicles , we have no significant general inventory risk . additionally , fleet customers generally receive special purchase incentives from the automobile manufacturers and we receive only a nominal fee for facilitating the transactions . taxes collected from customers and remitted to governmental agencies are not included in total revenues . we arrange financing for customers through various institutions and receive financing fees based on the difference between the loan rates charged to customers and wholesale financing rates set by the financing institution . in addition , we receive fees from the sale of insurance and vehicle service contracts to customers . further , through agreements with certain vehicle service contract administrators , we earn volume incentive rebates and interest income on reserves , as well as participate in the underwriting profits of the products . we may be charged back for unearned financing , insurance contract or vehicle service contract fees in the event of early termination of the contracts by customers . revenues from these fees are recorded at the time of the sale of the vehicles and a reserve for future amounts which might be charged back is established based on our historical chargeback results and the termination provisions of the applicable contracts . while chargeback results vary depending on the type of contract sold , a 10 % increase in the historical chargeback results used in determining estimates of future amounts which might be charged back would have increased the reserve at december 31 , 2014 , by $ 2.9 million . inventories . new , used and demonstrator vehicle inventories are carried at the lower of specific cost or market and are removed from inventory using the specific identification method in the consolidated balance sheets . parts and accessories inventories are valued at lower of cost ( determined on a first-in , first-out basis ) or market in the consolidated balance sheets . vehicle inventory cost consists of the amount paid to acquire the inventory , plus the cost of reconditioning , cost of equipment added and transportation cost . additionally , we receive interest assistance from some of our automobile manufacturers . this assistance is accounted for as a vehicle purchase price discount and is reflected as a reduction to the inventory cost on our consolidated balance sheets and as a reduction to cost of sales in our statements of operations as the vehicles are sold . at december 31 , 2014 and 2013 , inventory cost had been reduced by $ 8.8 million and $ 9.0 million , respectively , for interest assistance received from manufacturers . new vehicle cost of sales was reduced by $ 45.1 million , $ 38.5 million , and $ 33.9 million for interest assistance received related to vehicles sold for the years ended december 31 , 2014 , 2013 , and 2012 , respectively . the assistance over the past three years has ranged from approximately 87.3 % of our quarterly floorplan interest expense in the first quarter of 2013 to 117.7 % for the fourth quarter of 2014. as the market value of inventory typically declines over time , we establish new and used vehicle reserves based on our historical loss experience and considerations of current market trends . these reserves are charged to cost of sales and reduce the carrying value of inventory on hand . used vehicles are complex to value as there is no standardized source for determining exact values and each vehicle and each market in which we operate is unique . as a result , the value of each used vehicle taken at trade-in , or purchased at auction , is determined based on industry data , primarily accessed via our used vehicle management software and the industry expertise of the responsible used vehicle manager . valuation risk is partially mitigated , by the speed at which

