changes in job performance , job conditions and estimated profitability , including those changes arising from contract penalty provisions and final contract settlements may result in revisions to costs and income and are recognized in the period in which the revisions are determined . an amount attributable to contract claims is included in revenues when realization is probable and the amount can be reasonably estimated . the company generally provides a one to two-year warranty for workmanship under its contracts . warranty claims historically have been insignificant . 25 the accuracy of our revenue and profit recognition in a given period is dependent on the accuracy of our estimates of the revenues and costs to finish uncompleted contracts . our estimates for all of our significant contracts use a highly detailed “ bottom up ” approach , and we believe our experience allows us to produce reliable estimates . however , our projects can be highly complex , and in almost every case , the profit margin estimates for a contract will either increase or decrease to some extent from the amount that was originally estimated at the time of bid . because we have a large number of projects of varying levels of size and complexity in process at any given time , these changes in estimates can sometimes offset each other without materially impacting our overall profitability . however , large changes in revenue or cost estimates can have a significant effect on profitability . there are a number of factors that can contribute to changes in estimates of contract cost and profitability . the most significant of these include the completeness and accuracy of the original bid , recognition of costs associated with scope changes , extended overhead due to customer-related and weather-related delays , subcontractor and supplier performance issues , site conditions that differ from those assumed in the original bid ( to the extent contract remedies are unavailable ) , the availability and skill level of workers in the geographic location of the project and changes in the availability and proximity of materials . the foregoing factors , as well as the stage of completion of contracts in process and the mix of contracts at different margins , may cause fluctuations in gross profit between periods , and these fluctuations may be significant . results for 2012 and 2011 were adversely affected by revisions to estimated profitability on a number of construction projects . see “ recent developments ― financial results for 2012 , operational issues and outlook for 2013 financial results ” above and “ results of operations ― fiscal year ended december 31 , 2012 compared with fiscal year ended december 31 , 2011 ” for further discussion of the impact on our financial results . contracts receivable , including retainage contracts receivable are generally based on amounts billed to the customer . at december 31 , 2012 and 2011 , contracts receivable included $ 18.1 million and $ 22.6 million of retainage , respectively , which is being withheld by customers until completion of the contracts . all other contracts receivable include only balances approved for payment by the customer . many of the contracts under which the company performs work contain retainage provisions . retainage refers to that portion of billings made by the company but held for payment by the customer pending satisfactory completion of the project . retainage on active contracts is classified as a current asset regardless of the term of the contract and is generally collected within one year of the completion of a contract . based upon a review of outstanding contracts receivable , historical collection information and existing economic conditions , management has determined that all contracts receivable at december 31 , 2012 , including retainage , are fully collectible , and , accordingly , no allowance for doubtful accounts against contracts receivable was necessary . contracts receivable are written off based on individual credit evaluation and specific circumstances of the customer , when such treatment is warranted . valuation of long-lived assets . long-lived assets , which include property , equipment and acquired intangible assets , including goodwill , are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable . impairment evaluations involve fair values and management estimates of useful asset lives and future cash flows . actual useful lives and cash flows could be different from those estimated by management , and this could have a material effect on operating results and financial position . goodwill must be reviewed for impairment at least annually , and we completed our most recent annual impairment review for historical goodwill during the fourth quarter of 2012. it indicated that there was no impairment in goodwill . note 8 to the consolidated financial statements discusses the three valuation approaches used by the company to determine the fair value of the company 's equity for purposes of evaluating whether there is an indication of goodwill impairment . these valuation approaches are impacted by a number of factors but the key ones are the company 's stock price , the company 's financial performance relative to its peer group , the financial performance of the peer group , the estimated control premium and the estimated forecasted cash flows . the valuation approaches contain uncertainty regarding the estimates used . one of the largest uncertainties relates to government and state spending which management expects to increase in the next few years . there are a number of other uncertainties with respect to our future financial performance that could impact estimated future cash flows . these are discussed in a number of places including “ item ia . risk factors . story_separator_special_tag the credit facility has a maturity date of september 30 , 2016. subject to the conditions under the terms of the credit facility , including the financial covenants discussed below , up to $ 50 million in borrowings and letters of credit is available under the amended credit facility with , under certain circumstances , an optional increase of $ 50 million . borrowings under the credit facility are secured by all assets of the company , other than proceeds and other rights under our construction contracts which are pledged to our bond surety . at december 31 , 2012 , there were borrowings of $ 24.0 million outstanding under the credit facility and a letter of credit of $ 1.8 million outstanding which reduced availability under the credit facility to $ 24.2 million . in january 2013 , the company sold approximately $ 27.7 million of its short-term investments in order to repay the $ 24.0 million of borrowings outstanding under the credit facility at december 31 , 2012. average borrowings under the credit facility for the 2012 fiscal year were $ 1.1 million and the largest amount of borrowings under the credit facility was $ 24.0 million on december 31 , 2012. average borrowings under the credit facility for the 2011 fiscal year were $ 104,000 , and the largest amount of borrowings under the credit facility was $ 8.0 million on september 30 , 2011. the credit facility is subject to our compliance with certain covenants , including financial covenants at year-end relating to leverage , tangible net worth , and asset coverage . the credit facility contains restrictions on our ability to : · make distributions or pay dividends ; · incur liens and encumbrances ; · incur further indebtedness ; · guarantee obligations ; · dispose of a material portion of assets or merge with a third party ; and · make investments in securities . to date the company has not experienced any difficulty in borrowing under the credit facility , and the company was in compliance with all covenants under the credit facility as of december 31 , 2012. management believes that the company has sufficient liquid financial resources , including the unused portion of its credit facility , to fund its requirements for the next twelve months of operations , including its bonding requirements , and the company expects no material adverse change in its liquidity . future developments or events , such as an increase in our level of purchases of equipment to support significantly higher backlog or an acquisition of another company could , however , affect our level of working capital and tangible net worth . 33 contractual obligations . the following table sets forth our fixed , non-cancelable obligations at december 31 , 2012 : replace_table_token_8_th our obligations for interest are not included in the table above as these amounts vary according to the levels of debt outstanding at any time . interest on our credit facility is paid monthly and fluctuates with the balances outstanding during the year , as well as with fluctuations in interest rates . in 2012 , interest on the credit facility was approximately $ 37,000. to manage risks of changes in the material prices and subcontracting costs used in submitting bids for construction contracts , we generally obtain firm quotations from our suppliers and subcontractors before submitting a bid . these quotations do not include any quantity guarantees , and we have no obligation for materials or subcontract services beyond those required to complete the contracts that we are awarded for which quotations have been provided . as is customary in the construction business , we are required to provide surety bonds to secure our performance under construction contracts . our ability to obtain surety bonds primarily depends upon our capitalization , working capital , past performance , management expertise and reputation and certain external factors , including the overall capacity of the surety market . surety companies consider such factors in relationship to the amount of our backlog and their underwriting standards , which may change from time to time . we have pledged all proceeds and other rights under our construction contracts to our bond surety company . events that affect the insurance and bonding markets may result in bonding becoming more difficult to obtain in the future , or being available only at a significantly greater cost . to date , we have not encountered difficulties or material cost increases in obtaining new surety bonds . capital expenditures . capital equipment is acquired as needed by increased levels of production and to replace retiring equipment . management expects capital expenditures in 2013 to be lower than the $ 37.4 million incurred in 2012 ; however , the award of a project requiring significant purchases of equipment or other factors could result in increased expenditures . inflation . inflation generally has not had a material impact on our financial results ; however , from time to time increases in oil , fuel , and steel prices have affected our cost of operations . anticipated cost increases and reductions are considered in our bids to customers on proposed new construction projects . in order to mitigate our exposure to increases in fuel prices , we have a program to hedge our exposure to increases in diesel fuel prices by entering into swap contracts for diesel fuel . we believe that the gains and losses on these contracts will tend to offset increases and decreases in the price we pay for diesel fuel and reduce the volatility of such fuel costs in our operations . as of december 31 , 2012 , we had diesel futures contracts for 1,190,000 gallons which fixed prices at an average of $ 2.92 per gallon . this compares to the december 31 , 2012 price for off-road ultra-low sulfur diesel published by platts of $ 2.99. we will continue to evaluate this strategy and may increase

cash and cash equivalents $ 3,142 $ 16,371 working capital $ 87,484 $ 94,738 operating activities . significant non-cash items included in operating activities are : · the impairment of goodwill of $ 67.0 million in 2011 ; · depreciation and amortization which increased to $ 19.0 million in 2012 as compared to $ 17.3 million in 2011 and $ 15.8 million in 2010 as a result of an increase in capital expenditures as well as depreciation associated with jbc and myers which were acquired in 2011 ; · deferred tax ( benefit ) expense was $ ( 1.2 ) million , $ ( 18.7 ) million and $ 3.9 million in 2012 , 2011 and 2010 , respectively ; the deferred tax benefit for 2011 is primarily the result of recording the impairment of goodwill for financial reporting purposes whereas goodwill is amortized for tax return purposes ; the deferred tax expense in 2010 is the result of recognizing accelerated depreciation methods used on equipment for tax purposes as compared to straight-line depreciation used for financial reporting purposes and amortizing goodwill for tax return purposes but not for financial reporting purposes . 31 besides the net income ( loss ) in 2012 , 2011 and 2010 and the non-cash items discussed above , other significant components of cash flows from operations ( which excludes the impact of changes attributable to the net assets of acquired companies ) was a decrease in cash and cash equivalents related to non-cash working capital of $ ( 4.7 ) million , $ ( 10.8 ) million , and $ ( 2.4 ) million in 2012 , 2011 and 2010 , respectively . investing activities . capital equipment is acquired as needed to support increased levels of production activities and to replace retiring equipment . expenditures for the replacement of certain equipment and to expand our construction fleet totaled $ 37.4 million in 2012. proceeds from the sale of property and equipment totaled $ 12.5 million for 2012 with an associated net gain of $ 3.2 million .


 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 and cash equivalents $ 3,142 $ 16,371 working capital $ 87,484 $ 94,738 operating activities . significant non-cash items included in operating activities are : · the impairment of goodwill of $ 67.0 million in 2011 ; · depreciation and amortization which increased to $ 19.0 million in 2012 as compared to $ 17.3 million in 2011 and $ 15.8 million in 2010 as a result of an increase in capital expenditures as well as depreciation associated with jbc and myers which were acquired in 2011 ; · deferred tax ( benefit ) expense was $ ( 1.2 ) million , $ ( 18.7 ) million and $ 3.9 million in 2012 , 2011 and 2010 , respectively ; the deferred tax benefit for 2011 is primarily the result of recording the impairment of goodwill for financial reporting purposes whereas goodwill is amortized for tax return purposes ; the deferred tax expense in 2010 is the result of recognizing accelerated depreciation methods used on equipment for tax purposes as compared to straight-line depreciation used for financial reporting purposes and amortizing goodwill for tax return purposes but not for financial reporting purposes . 31 besides the net income ( loss ) in 2012 , 2011 and 2010 and the non-cash items discussed above , other significant components of cash flows from operations ( which excludes the impact of changes attributable to the net assets of acquired companies ) was a decrease in cash and cash equivalents related to non-cash working capital of $ ( 4.7 ) million , $ ( 10.8 ) million , and $ ( 2.4 ) million in 2012 , 2011 and 2010 , respectively . investing activities . capital equipment is acquired as needed to support increased levels of production activities and to replace retiring equipment . expenditures for the replacement of certain equipment and to expand our construction fleet totaled $ 37.4 million in 2012. proceeds from the sale of property and equipment totaled $ 12.5 million for 2012 with an associated net gain of $ 3.2 million .
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 Suspicious Activity Report : changes in job performance , job conditions and estimated profitability , including those changes arising from contract penalty provisions and final contract settlements may result in revisions to costs and income and are recognized in the period in which the revisions are determined . an amount attributable to contract claims is included in revenues when realization is probable and the amount can be reasonably estimated . the company generally provides a one to two-year warranty for workmanship under its contracts . warranty claims historically have been insignificant . 25 the accuracy of our revenue and profit recognition in a given period is dependent on the accuracy of our estimates of the revenues and costs to finish uncompleted contracts . our estimates for all of our significant contracts use a highly detailed “ bottom up ” approach , and we believe our experience allows us to produce reliable estimates . however , our projects can be highly complex , and in almost every case , the profit margin estimates for a contract will either increase or decrease to some extent from the amount that was originally estimated at the time of bid . because we have a large number of projects of varying levels of size and complexity in process at any given time , these changes in estimates can sometimes offset each other without materially impacting our overall profitability . however , large changes in revenue or cost estimates can have a significant effect on profitability . there are a number of factors that can contribute to changes in estimates of contract cost and profitability . the most significant of these include the completeness and accuracy of the original bid , recognition of costs associated with scope changes , extended overhead due to customer-related and weather-related delays , subcontractor and supplier performance issues , site conditions that differ from those assumed in the original bid ( to the extent contract remedies are unavailable ) , the availability and skill level of workers in the geographic location of the project and changes in the availability and proximity of materials . the foregoing factors , as well as the stage of completion of contracts in process and the mix of contracts at different margins , may cause fluctuations in gross profit between periods , and these fluctuations may be significant . results for 2012 and 2011 were adversely affected by revisions to estimated profitability on a number of construction projects . see “ recent developments ― financial results for 2012 , operational issues and outlook for 2013 financial results ” above and “ results of operations ― fiscal year ended december 31 , 2012 compared with fiscal year ended december 31 , 2011 ” for further discussion of the impact on our financial results . contracts receivable , including retainage contracts receivable are generally based on amounts billed to the customer . at december 31 , 2012 and 2011 , contracts receivable included $ 18.1 million and $ 22.6 million of retainage , respectively , which is being withheld by customers until completion of the contracts . all other contracts receivable include only balances approved for payment by the customer . many of the contracts under which the company performs work contain retainage provisions . retainage refers to that portion of billings made by the company but held for payment by the customer pending satisfactory completion of the project . retainage on active contracts is classified as a current asset regardless of the term of the contract and is generally collected within one year of the completion of a contract . based upon a review of outstanding contracts receivable , historical collection information and existing economic conditions , management has determined that all contracts receivable at december 31 , 2012 , including retainage , are fully collectible , and , accordingly , no allowance for doubtful accounts against contracts receivable was necessary . contracts receivable are written off based on individual credit evaluation and specific circumstances of the customer , when such treatment is warranted . valuation of long-lived assets . long-lived assets , which include property , equipment and acquired intangible assets , including goodwill , are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable . impairment evaluations involve fair values and management estimates of useful asset lives and future cash flows . actual useful lives and cash flows could be different from those estimated by management , and this could have a material effect on operating results and financial position . goodwill must be reviewed for impairment at least annually , and we completed our most recent annual impairment review for historical goodwill during the fourth quarter of 2012. it indicated that there was no impairment in goodwill . note 8 to the consolidated financial statements discusses the three valuation approaches used by the company to determine the fair value of the company 's equity for purposes of evaluating whether there is an indication of goodwill impairment . these valuation approaches are impacted by a number of factors but the key ones are the company 's stock price , the company 's financial performance relative to its peer group , the financial performance of the peer group , the estimated control premium and the estimated forecasted cash flows . the valuation approaches contain uncertainty regarding the estimates used . one of the largest uncertainties relates to government and state spending which management expects to increase in the next few years . there are a number of other uncertainties with respect to our future financial performance that could impact estimated future cash flows . these are discussed in a number of places including “ item ia . risk factors . story_separator_special_tag the credit facility has a maturity date of september 30 , 2016. subject to the conditions under the terms of the credit facility , including the financial covenants discussed below , up to $ 50 million in borrowings and letters of credit is available under the amended credit facility with , under certain circumstances , an optional increase of $ 50 million . borrowings under the credit facility are secured by all assets of the company , other than proceeds and other rights under our construction contracts which are pledged to our bond surety . at december 31 , 2012 , there were borrowings of $ 24.0 million outstanding under the credit facility and a letter of credit of $ 1.8 million outstanding which reduced availability under the credit facility to $ 24.2 million . in january 2013 , the company sold approximately $ 27.7 million of its short-term investments in order to repay the $ 24.0 million of borrowings outstanding under the credit facility at december 31 , 2012. average borrowings under the credit facility for the 2012 fiscal year were $ 1.1 million and the largest amount of borrowings under the credit facility was $ 24.0 million on december 31 , 2012. average borrowings under the credit facility for the 2011 fiscal year were $ 104,000 , and the largest amount of borrowings under the credit facility was $ 8.0 million on september 30 , 2011. the credit facility is subject to our compliance with certain covenants , including financial covenants at year-end relating to leverage , tangible net worth , and asset coverage . the credit facility contains restrictions on our ability to : · make distributions or pay dividends ; · incur liens and encumbrances ; · incur further indebtedness ; · guarantee obligations ; · dispose of a material portion of assets or merge with a third party ; and · make investments in securities . to date the company has not experienced any difficulty in borrowing under the credit facility , and the company was in compliance with all covenants under the credit facility as of december 31 , 2012. management believes that the company has sufficient liquid financial resources , including the unused portion of its credit facility , to fund its requirements for the next twelve months of operations , including its bonding requirements , and the company expects no material adverse change in its liquidity . future developments or events , such as an increase in our level of purchases of equipment to support significantly higher backlog or an acquisition of another company could , however , affect our level of working capital and tangible net worth . 33 contractual obligations . the following table sets forth our fixed , non-cancelable obligations at december 31 , 2012 : replace_table_token_8_th our obligations for interest are not included in the table above as these amounts vary according to the levels of debt outstanding at any time . interest on our credit facility is paid monthly and fluctuates with the balances outstanding during the year , as well as with fluctuations in interest rates . in 2012 , interest on the credit facility was approximately $ 37,000. to manage risks of changes in the material prices and subcontracting costs used in submitting bids for construction contracts , we generally obtain firm quotations from our suppliers and subcontractors before submitting a bid . these quotations do not include any quantity guarantees , and we have no obligation for materials or subcontract services beyond those required to complete the contracts that we are awarded for which quotations have been provided . as is customary in the construction business , we are required to provide surety bonds to secure our performance under construction contracts . our ability to obtain surety bonds primarily depends upon our capitalization , working capital , past performance , management expertise and reputation and certain external factors , including the overall capacity of the surety market . surety companies consider such factors in relationship to the amount of our backlog and their underwriting standards , which may change from time to time . we have pledged all proceeds and other rights under our construction contracts to our bond surety company . events that affect the insurance and bonding markets may result in bonding becoming more difficult to obtain in the future , or being available only at a significantly greater cost . to date , we have not encountered difficulties or material cost increases in obtaining new surety bonds . capital expenditures . capital equipment is acquired as needed by increased levels of production and to replace retiring equipment . management expects capital expenditures in 2013 to be lower than the $ 37.4 million incurred in 2012 ; however , the award of a project requiring significant purchases of equipment or other factors could result in increased expenditures . inflation . inflation generally has not had a material impact on our financial results ; however , from time to time increases in oil , fuel , and steel prices have affected our cost of operations . anticipated cost increases and reductions are considered in our bids to customers on proposed new construction projects . in order to mitigate our exposure to increases in fuel prices , we have a program to hedge our exposure to increases in diesel fuel prices by entering into swap contracts for diesel fuel . we believe that the gains and losses on these contracts will tend to offset increases and decreases in the price we pay for diesel fuel and reduce the volatility of such fuel costs in our operations . as of december 31 , 2012 , we had diesel futures contracts for 1,190,000 gallons which fixed prices at an average of $ 2.92 per gallon . this compares to the december 31 , 2012 price for off-road ultra-low sulfur diesel published by platts of $ 2.99. we will continue to evaluate this strategy and may increase

