the ism pmi registered 53.5 in june 2015 , a decrease from 55.3 in june 2014 , but still above 50 ( its expansionary threshold ) . year ended june 30 , 2015 vs. 2014 the following table is included to aid in review of applied 's statements of consolidated income . replace_table_token_2_th 14 sales in fiscal 2015 were $ 2.75 billion , which was $ 291.7 million or 11.9 % above the prior year , with acquisitions accounting for $ 280.2 million or 11.4 % . unfavorable foreign currency translation decreased sales by $ 43.3 million or 1.8 % . excluding the impact of businesses acquired and prior to the impact of currency translation , sales were up $ 54.8 million or 2.3 % during the year . we had 252.5 selling days in both fiscal 2015 and fiscal 2014. sales of our service center based distribution segment , which operates primarily in mro markets , increased $ 281.4 million , or 14.3 % . acquisitions within this segment increased sales by $ 280.2 million or 14.2 % . unfavorable foreign currency translation decreased sales by $ 36.5 million or 1.8 % . excluding the impact of businesses acquired and unfavorable currency translation impact , sales increased $ 37.7 million or 1.9 % . sales of our fluid power businesses segment , which operates primarily in oem markets , increased $ 10.3 million or 2.1 % , primarily attributed to strong sales growth at several of our u.s. based fluid power businesses which added $ 17.1 million or 3.5 % , while unfavorable foreign currency translation decreased sales by $ 6.8 million or 1.4 % . sales in our u.s. operations were up $ 207.1 million or 10.2 % , with acquisitions adding $ 175.8 million or 8.7 % . sales from our canadian operations increased $ 67.5 million or 23.2 % , with acquisitions adding $ 86.4 million or 29.7 % . unfavorable foreign currency translation decreased canadian sales by $ 30.4 million or 10.4 % . excluding the impact of businesses acquired and prior to the impact of currency translation , sales were up $ 11.5 million or 3.9 % during the year . consolidated sales from our other country operations , which include mexico , australia and new zealand , were $ 17.1 million or 12.4 % above the prior year , with acquisitions adding sales of $ 18.0 million or 13.1 % . unfavorable foreign currency translation decreased other country sales by $ 12.9 million or 9.4 % . excluding the impact of businesses acquired and prior to the impact of currency translation , sales were up $ 12.0 million or 8.7 % during the year . the sales product mix for fiscal 2015 was 73.2 % industrial products and 26.8 % fluid power products compared to 70.7 % industrial and 29.3 % fluid power in the prior year . these changes in product mix relate entirely to the product mix of our recent acquisitions being primarily industrial products . our gross profit margin was 28.0 % in fiscal 2015 versus 27.9 % in fiscal 2014 . the increased margins are attributable to the impact of relatively higher gross margins from acquired operations . selling , distribution and administrative expenses ( sd & a ) consist of associate compensation , benefits and other expenses associated with selling , purchasing , warehousing , supply chain management , and providing marketing and distribution of the company 's products , as well as costs associated with a variety of administrative functions such as human resources , information technology , treasury , accounting , legal , facility related expenses and expenses incurred with acquiring businesses . sd & a increased $ 62.6 million or 12.0 % during fiscal 2015 compared to the prior year , and as a percent of sales increased to 21.3 % from 21.2 % in fiscal 2014 . the acquired businesses added an incremental $ 69.4 million of sd & a expenses , which includes an additional $ 13.4 million associated with acquired identifiable intangibles amortization . excluding the $ 11.0 million decline in sd & a from foreign currency translation , the remaining sd & a amounts were similar to the prior year . the increase in sd & a as a percentage of sales , was driven by additional intangible asset amortization from businesses acquired . operating income increased $ 20.3 million , or 12.3 % , to $ 184.6 million during fiscal 2015 from $ 164.4 million during 2014 , and as a percent of sales , remained stable at 6.7 % . the increase in operating income dollars is primarily attributable to our acquired businesses . operating income as a percentage of sales for the service center based distribution segment increased to 6.2 % in fiscal 2015 from 6.0 % in fiscal 2014 . this increase is primarily attributable to an increase in gross profit as a percentage of sales , as a result of our recent acquisitions which operate at higher gross profit margins , representing an increase of 0.1 % , along with a decrease in sd & a as a percentage of sales of 0.1 % . operating income as a percentage of sales for the fluid power businesses segment increased to 9.8 % in fiscal 2015 from 9.2 % in fiscal 2014 . this increase is primarily attributable to the leveraging of organic sales growth in our u.s. based fluid power businesses , without a commensurate increase in sd & a expenses . segment operating income is impacted by changes in the amounts and levels of expenses allocated to the segments . the expense allocations include corporate charges for working capital , logistics support and other items and impact segment gross profit and operating expense . interest expense , net , increased to $ 7.9 million in fiscal 2015 entirely due to acquisition related borrowing . story_separator_special_tag the annualized inventory turnover ( using average costs ) for the period ended june 30 , 2015 was 3.7 versus 3.8 at june 30 , 2014 . this decrease is due to the impact of recent acquisitions which historically have had lower inventory turnover rates , coupled with strategic inventory investments that we believe will assist with future sales growth . we believe our inventory turnover ratio in fiscal 2016 will be slightly better than our fiscal 2015 levels . 20 contractual obligations the following table shows the approximate value of the company 's contractual obligations and other commitments to make future payments as of june 30 , 2015 ( in thousands ) : replace_table_token_6_th ( 1 ) amounts represent estimated contractual interest payments on outstanding long-term debt obligations . rates in effect as of june 30 , 2015 are used for variable rate debt . purchase orders for inventory and other goods and services are not included in our estimates as we are unable to aggregate the amount of such purchase orders that represent enforceable and legally binding agreements specifying all significant terms . the previous table includes the gross liability for unrecognized income tax benefits including interest and penalties as well as the balance outstanding under our revolving credit facility in the “ other ” column as the company is unable to make a reasonable estimate regarding the timing of cash settlements , if any , with the respective taxing authorities or lenders . subsequent events on august 3 , 2015 , the company acquired all of the net assets of atlantic fasteners , located in agawam , ma , for a purchase price of approximately $ 12.5 million . the company funded this acquisition from borrowings under the revolving credit facility at a variable interest rate . as a a distributor of fasteners and industrial supplies , this business will be included in the service center based distribution segment from august 3 , 2015. critical accounting policies the preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the united states of america requires management to make judgments , assumptions and estimates at a specific point in time that affect the amounts reported in the consolidated financial statements and disclosed in the accompanying notes . the business and accounting policies note to the consolidated financial statements describes the significant accounting policies and methods used in preparation of the consolidated financial statements . estimates are used for , but not limited to , determining the net carrying value of trade accounts receivable , inventories , recording self-insurance liabilities and other accrued liabilities . estimates are also used in establishing opening balances in relation to purchase accounting . actual results could differ from these estimates . the following critical accounting policies are impacted significantly by judgments , assumptions and estimates used in the preparation of the consolidated financial statements . lifo inventory valuation and methodology inventories are valued at the average cost method , using the last-in , first-out ( lifo ) method for u.s. inventories , and the average cost method for foreign inventories . we adopted the link chain dollar value lifo method for accounting for u.s. inventories in fiscal 1974. approximately 22.1 % of our domestic inventory dollars relate to lifo layers added in the 1970s . the excess of average cost over lifo cost is $ 151.8 million as reflected in our consolidated balance sheet at june 30 , 2015 . the company maintains five lifo pools based on the following product groupings : bearings , power transmission products , rubber products , fluid power products and other products . lifo layers and or liquidations are determined consistently year-to-year . see the inventories note to the consolidated financial statements in item 8 under the caption `` financial statements and supplementary data , for further information . allowances for slow-moving and obsolete inventories we evaluate the recoverability of our slow-moving or obsolete inventories at least quarterly . we estimate the recoverable cost of such inventory by product type while considering factors such as its age , historic and current 21 demand trends , the physical condition of the inventory , as well as assumptions regarding future demand . our ability to recover our cost for slow moving or obsolete inventory can be affected by such factors as general market conditions , future customer demand and relationships with suppliers . a significant portion of the products we hold in inventory have long shelf lives , are not highly susceptible to obsolescence and are eligible for return under various supplier return programs . allowances for doubtful accounts we evaluate the collectibility of trade accounts receivable based on a combination of factors . initially , we estimate an allowance for doubtful accounts as a percentage of net sales based on historical bad debt experience . this initial estimate is adjusted based on recent trends of certain customers and industries estimated to be a greater credit risk , trends within the entire customer pool and changes in the overall aging of accounts receivable . while we have a large customer base that is geographically dispersed , a general economic downturn in any of the industry segments in which we operate could result in higher than expected defaults , and therefore , the need to revise estimates for bad debts . accounts are written off against the allowance when it becomes evident that collection will not occur . as of june 30 , 2015 and 2014 , our allowance for doubtful accounts was 2.7 % of gross receivables , for each period . our provision for losses on accounts receivable was $ 2.6 million , $ 4.0 million and $ 2.3 million in fiscal 2015 , 2014 and 2013 , respectively . goodwill and intangibles goodwill is recognized as the amount by which the cost of an acquired entity exceeds the net amount assigned to assets acquired and liabilities assumed . goodwill for acquired businesses is

liquidity and capital resources our primary source of capital is cash flow from operations , supplemented as necessary by bank borrowings or other sources of debt . at june 30 , 2015 we had total debt obligations outstanding of $ 321.0 million compared to $ 170.7 million at june 30 , 2014 . management expects that our existing cash , cash equivalents , funds available under the revolving credit and uncommitted shelf facilities , cash provided from operations , and the use of operating leases will be sufficient to finance normal working capital needs in each of the countries we operate in , payment of dividends , acquisitions , investments in properties , facilities and equipment , and the purchase of additional company common stock . management also believes that additional long-term debt and line of credit financing could be obtained based on the company 's credit standing and financial strength . the company holds , from time to time , relatively significant cash and cash equivalent balances outside of the united states of america . the following table shows the company 's total cash as of june 30 , 2015 by geographic location ; all amounts are in thousands . country amount united sates $ 17,256 canada 40,325 other countries 11,889 total $ 69,470 to the extent cash in foreign countries is distributed to the u.s. , it could become subject to u.s. income taxes . foreign tax credits may be available to offset all or a portion of such taxes . at june 30 , 2015 , all foreign earnings are considered permanently reinvested . the company 's working capital at june 30 , 2015 was $ 549.2 million compared to $ 545.2 million at june 30 , 2014 . the current ratio was 2.8 to 1 at june 30 , 2015 and 2.9 to 1 at june 30 , 2014 . net cash flows the following table is included to aid in review of applied 's statements of consolidated cash flows ; all amounts are in thousands .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our primary source of capital is cash flow from operations , supplemented as necessary by bank borrowings or other sources of debt . at june 30 , 2015 we had total debt obligations outstanding of $ 321.0 million compared to $ 170.7 million at june 30 , 2014 . management expects that our existing cash , cash equivalents , funds available under the revolving credit and uncommitted shelf facilities , cash provided from operations , and the use of operating leases will be sufficient to finance normal working capital needs in each of the countries we operate in , payment of dividends , acquisitions , investments in properties , facilities and equipment , and the purchase of additional company common stock . management also believes that additional long-term debt and line of credit financing could be obtained based on the company 's credit standing and financial strength . the company holds , from time to time , relatively significant cash and cash equivalent balances outside of the united states of america . the following table shows the company 's total cash as of june 30 , 2015 by geographic location ; all amounts are in thousands . country amount united sates $ 17,256 canada 40,325 other countries 11,889 total $ 69,470 to the extent cash in foreign countries is distributed to the u.s. , it could become subject to u.s. income taxes . foreign tax credits may be available to offset all or a portion of such taxes . at june 30 , 2015 , all foreign earnings are considered permanently reinvested . the company 's working capital at june 30 , 2015 was $ 549.2 million compared to $ 545.2 million at june 30 , 2014 . the current ratio was 2.8 to 1 at june 30 , 2015 and 2.9 to 1 at june 30 , 2014 . net cash flows the following table is included to aid in review of applied 's statements of consolidated cash flows ; all amounts are in thousands .
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 Suspicious Activity Report : the ism pmi registered 53.5 in june 2015 , a decrease from 55.3 in june 2014 , but still above 50 ( its expansionary threshold ) . year ended june 30 , 2015 vs. 2014 the following table is included to aid in review of applied 's statements of consolidated income . replace_table_token_2_th 14 sales in fiscal 2015 were $ 2.75 billion , which was $ 291.7 million or 11.9 % above the prior year , with acquisitions accounting for $ 280.2 million or 11.4 % . unfavorable foreign currency translation decreased sales by $ 43.3 million or 1.8 % . excluding the impact of businesses acquired and prior to the impact of currency translation , sales were up $ 54.8 million or 2.3 % during the year . we had 252.5 selling days in both fiscal 2015 and fiscal 2014. sales of our service center based distribution segment , which operates primarily in mro markets , increased $ 281.4 million , or 14.3 % . acquisitions within this segment increased sales by $ 280.2 million or 14.2 % . unfavorable foreign currency translation decreased sales by $ 36.5 million or 1.8 % . excluding the impact of businesses acquired and unfavorable currency translation impact , sales increased $ 37.7 million or 1.9 % . sales of our fluid power businesses segment , which operates primarily in oem markets , increased $ 10.3 million or 2.1 % , primarily attributed to strong sales growth at several of our u.s. based fluid power businesses which added $ 17.1 million or 3.5 % , while unfavorable foreign currency translation decreased sales by $ 6.8 million or 1.4 % . sales in our u.s. operations were up $ 207.1 million or 10.2 % , with acquisitions adding $ 175.8 million or 8.7 % . sales from our canadian operations increased $ 67.5 million or 23.2 % , with acquisitions adding $ 86.4 million or 29.7 % . unfavorable foreign currency translation decreased canadian sales by $ 30.4 million or 10.4 % . excluding the impact of businesses acquired and prior to the impact of currency translation , sales were up $ 11.5 million or 3.9 % during the year . consolidated sales from our other country operations , which include mexico , australia and new zealand , were $ 17.1 million or 12.4 % above the prior year , with acquisitions adding sales of $ 18.0 million or 13.1 % . unfavorable foreign currency translation decreased other country sales by $ 12.9 million or 9.4 % . excluding the impact of businesses acquired and prior to the impact of currency translation , sales were up $ 12.0 million or 8.7 % during the year . the sales product mix for fiscal 2015 was 73.2 % industrial products and 26.8 % fluid power products compared to 70.7 % industrial and 29.3 % fluid power in the prior year . these changes in product mix relate entirely to the product mix of our recent acquisitions being primarily industrial products . our gross profit margin was 28.0 % in fiscal 2015 versus 27.9 % in fiscal 2014 . the increased margins are attributable to the impact of relatively higher gross margins from acquired operations . selling , distribution and administrative expenses ( sd & a ) consist of associate compensation , benefits and other expenses associated with selling , purchasing , warehousing , supply chain management , and providing marketing and distribution of the company 's products , as well as costs associated with a variety of administrative functions such as human resources , information technology , treasury , accounting , legal , facility related expenses and expenses incurred with acquiring businesses . sd & a increased $ 62.6 million or 12.0 % during fiscal 2015 compared to the prior year , and as a percent of sales increased to 21.3 % from 21.2 % in fiscal 2014 . the acquired businesses added an incremental $ 69.4 million of sd & a expenses , which includes an additional $ 13.4 million associated with acquired identifiable intangibles amortization . excluding the $ 11.0 million decline in sd & a from foreign currency translation , the remaining sd & a amounts were similar to the prior year . the increase in sd & a as a percentage of sales , was driven by additional intangible asset amortization from businesses acquired . operating income increased $ 20.3 million , or 12.3 % , to $ 184.6 million during fiscal 2015 from $ 164.4 million during 2014 , and as a percent of sales , remained stable at 6.7 % . the increase in operating income dollars is primarily attributable to our acquired businesses . operating income as a percentage of sales for the service center based distribution segment increased to 6.2 % in fiscal 2015 from 6.0 % in fiscal 2014 . this increase is primarily attributable to an increase in gross profit as a percentage of sales , as a result of our recent acquisitions which operate at higher gross profit margins , representing an increase of 0.1 % , along with a decrease in sd & a as a percentage of sales of 0.1 % . operating income as a percentage of sales for the fluid power businesses segment increased to 9.8 % in fiscal 2015 from 9.2 % in fiscal 2014 . this increase is primarily attributable to the leveraging of organic sales growth in our u.s. based fluid power businesses , without a commensurate increase in sd & a expenses . segment operating income is impacted by changes in the amounts and levels of expenses allocated to the segments . the expense allocations include corporate charges for working capital , logistics support and other items and impact segment gross profit and operating expense . interest expense , net , increased to $ 7.9 million in fiscal 2015 entirely due to acquisition related borrowing . story_separator_special_tag the annualized inventory turnover ( using average costs ) for the period ended june 30 , 2015 was 3.7 versus 3.8 at june 30 , 2014 . this decrease is due to the impact of recent acquisitions which historically have had lower inventory turnover rates , coupled with strategic inventory investments that we believe will assist with future sales growth . we believe our inventory turnover ratio in fiscal 2016 will be slightly better than our fiscal 2015 levels . 20 contractual obligations the following table shows the approximate value of the company 's contractual obligations and other commitments to make future payments as of june 30 , 2015 ( in thousands ) : replace_table_token_6_th ( 1 ) amounts represent estimated contractual interest payments on outstanding long-term debt obligations . rates in effect as of june 30 , 2015 are used for variable rate debt . purchase orders for inventory and other goods and services are not included in our estimates as we are unable to aggregate the amount of such purchase orders that represent enforceable and legally binding agreements specifying all significant terms . the previous table includes the gross liability for unrecognized income tax benefits including interest and penalties as well as the balance outstanding under our revolving credit facility in the “ other ” column as the company is unable to make a reasonable estimate regarding the timing of cash settlements , if any , with the respective taxing authorities or lenders . subsequent events on august 3 , 2015 , the company acquired all of the net assets of atlantic fasteners , located in agawam , ma , for a purchase price of approximately $ 12.5 million . the company funded this acquisition from borrowings under the revolving credit facility at a variable interest rate . as a a distributor of fasteners and industrial supplies , this business will be included in the service center based distribution segment from august 3 , 2015. critical accounting policies the preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the united states of america requires management to make judgments , assumptions and estimates at a specific point in time that affect the amounts reported in the consolidated financial statements and disclosed in the accompanying notes . the business and accounting policies note to the consolidated financial statements describes the significant accounting policies and methods used in preparation of the consolidated financial statements . estimates are used for , but not limited to , determining the net carrying value of trade accounts receivable , inventories , recording self-insurance liabilities and other accrued liabilities . estimates are also used in establishing opening balances in relation to purchase accounting . actual results could differ from these estimates . the following critical accounting policies are impacted significantly by judgments , assumptions and estimates used in the preparation of the consolidated financial statements . lifo inventory valuation and methodology inventories are valued at the average cost method , using the last-in , first-out ( lifo ) method for u.s. inventories , and the average cost method for foreign inventories . we adopted the link chain dollar value lifo method for accounting for u.s. inventories in fiscal 1974. approximately 22.1 % of our domestic inventory dollars relate to lifo layers added in the 1970s . the excess of average cost over lifo cost is $ 151.8 million as reflected in our consolidated balance sheet at june 30 , 2015 . the company maintains five lifo pools based on the following product groupings : bearings , power transmission products , rubber products , fluid power products and other products . lifo layers and or liquidations are determined consistently year-to-year . see the inventories note to the consolidated financial statements in item 8 under the caption `` financial statements and supplementary data , for further information . allowances for slow-moving and obsolete inventories we evaluate the recoverability of our slow-moving or obsolete inventories at least quarterly . we estimate the recoverable cost of such inventory by product type while considering factors such as its age , historic and current 21 demand trends , the physical condition of the inventory , as well as assumptions regarding future demand . our ability to recover our cost for slow moving or obsolete inventory can be affected by such factors as general market conditions , future customer demand and relationships with suppliers . a significant portion of the products we hold in inventory have long shelf lives , are not highly susceptible to obsolescence and are eligible for return under various supplier return programs . allowances for doubtful accounts we evaluate the collectibility of trade accounts receivable based on a combination of factors . initially , we estimate an allowance for doubtful accounts as a percentage of net sales based on historical bad debt experience . this initial estimate is adjusted based on recent trends of certain customers and industries estimated to be a greater credit risk , trends within the entire customer pool and changes in the overall aging of accounts receivable . while we have a large customer base that is geographically dispersed , a general economic downturn in any of the industry segments in which we operate could result in higher than expected defaults , and therefore , the need to revise estimates for bad debts . accounts are written off against the allowance when it becomes evident that collection will not occur . as of june 30 , 2015 and 2014 , our allowance for doubtful accounts was 2.7 % of gross receivables , for each period . our provision for losses on accounts receivable was $ 2.6 million , $ 4.0 million and $ 2.3 million in fiscal 2015 , 2014 and 2013 , respectively . goodwill and intangibles goodwill is recognized as the amount by which the cost of an acquired entity exceeds the net amount assigned to assets acquired and liabilities assumed . goodwill for acquired businesses is

