some of these limitations are : they do not reflect our cash expenditures , future requirements for capital expenditures or contractual commitments ; they do not reflect changes in , or cash requirements for , our working capital needs ; they do not reflect the significant interest expense or the cash requirements necessary to service interest or principal payments on our debt ; although depreciation and amortization are non-cash charges , the assets being depreciated and amortized will often have to be replaced in the future , and ebitda and adjusted ebitda do not reflect any cash requirements for such replacements ; they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows ; 23 they do not reflect the impact on earnings of charges resulting from matters unrelated to our ongoing operations ; and other companies in our industry may calculate ebitda and adjusted ebitda differently from us , limiting their usefulness as comparative measures . because of these limitations , ebitda , adjusted ebitda and the related financial ratios should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as a measure of cash that will be available to us to meet our obligations . you should compensate for these limitations by relying primarily on our gaap results and using ebitda and adjusted ebitda only supplementally . see our consolidated financial statements contained in this form 10-k report . however , in spite of the above limitations , we believe that ebitda and adjusted ebitda are useful to an investor in evaluating our results of operations because these measures : are widely used by investors to measure a company 's operating performance without regard to items excluded from the calculation of such terms , which can vary substantially from company to company depending upon accounting methods and book value of assets , capital structure and the method by which assets were acquired , among other factors ; help investors to evaluate and compare the results of our operations from period to period by removing the effect of our capital structure from our operating performance ; and are used by our management team for various other purposes in presentations to our board of directors as a basis for strategic planning and forecasting . the following financial items have been added back to our net income when calculating ebitda and adjusted ebitda : amortization expense may be useful to investors because it represents the estimated attrition of our acquired customer base and the diminishing value of product rights ; depreciation may be useful to investors because it generally represents the wear and tear on our property and equipment used in our operations ; asset impairments ( including goodwill ) may be useful to our investors because it generally represents a decline in value in our assets used in our operations ; merger–related expenses may be useful to investors for determining current cash flow ; interest expense may be useful to investors for determining current cash flow ; and income tax expense may be useful to investors because it represents the taxes which may be payable for the period and the change in deferred taxes during the period , and may reduce cash flow available for use in our business . reconciliations of net income ( loss ) to ebitda and adjusted ebitda and the presentation of adjusted ebitda as a percentage of net sales were as follows : replace_table_token_4_th 24 ( 1 ) 2011 includes the partial-year amortization of intangibles and depreciation expense related to the labarge acquisition . ( 2 ) 2011 includes the partial-year interest expense on outstanding debt balances and amortization of deferred financing costs related to the labarge acquisition . ( 3 ) 2013 includes asset impairment charges for the embraer legacy 450/500 contracts and boeing 777 wing tip contract . ( 4 ) 2012 and 2011 include merger-related transaction costs and change-in-control provision for certain labarge key executives and employees arising in connection with the labarge acquisition . ( 5 ) 2011 includes goodwill impairment charges related to the labarge acquisition . adjusted ebitda decreased in 2013 compared to 2012 primarily due to decreased net sales , mainly in non-aerospace and defense end-use markets , fourth quarter charges of $ 14.1 million for the embraer legacy 450/500 and boeing 777 wing tip contracts , and higher inventory reserve charges . adjusted ebitda increased in 2012 over 2011 primarily due to higher net income including the full-year effect of increased revenues and operating expenses , including higher depreciation and amortization expenses , and higher interest expense related to the labarge acquisition . 25 results of operations 2013 compared to 2012 the following table sets forth net sales , selected financial data , the effective tax rate and diluted earnings per share : replace_table_token_5_th nm = not meaningful 26 net sales by end-use market and operating segment net sales by end-use market and operating segment during 2013 and 2012 , respectively , were as follows : replace_table_token_6_th net sales for 2013 reflected the growth in the aerospace and defense end-use markets , which were more than offset by lower sales in the non-aerospace and defense end-use markets . net sales to major customers a significant portion of our sales are to our top ten customers . sales to boeing were approximately 18 % and sales to raytheon were approximately 10 % of total sales for 2013. sales decreased $ 10.4 million , or 1.4 % , to $ 736.7 million for the fiscal year ended december 31 , 2013 from $ 747.0 million for the fiscal year ended december 31 , 2012. the lower sales were the result of lower sales in the non-aerospace and defense markets , which was partially offset by higher sales in commercial aerospace and defense technologies . story_separator_special_tag 2012 compared to 2011 net cash provided by operating activities in 2012 compared to 2011 reflects higher net income , better working capital management , primarily in inventory , and improved operating efficiency . net cash used in operating activities for 2011 was impacted by lower net income , an increase in accounts receivables , primarily related to the timing of billings to customers and extension of payments by the customers , an increase in inventory , primarily related to work-in-process for production jobs scheduled to ship in 2012 and afterward , payments of accounts payable , and payments in 2011 for expenses recorded in accrued liabilities in 2010. net cash used in operating activities for 2011 was also negatively impacted by $ 25.6 million of merger-related expenses related to the labarge acquisition . net cash used in investing activities in 2011 of $ 339.8 million included $ 325.3 million for the labarge acquisition . capital expenditures to support new contract awards at dlt and das were comparable in 2012 and 2011. net cash provided by financing activities in 2011 of $ 374.0 million included approximately $ 390.0 million of borrowings , primarily to finance the labarge acquisition , $ 1.3 million of repayment of the term loan , and $ 14.0 million of debt issue cost paid , also related to the labarge acquisition . see “ part ii , item 8. ducommun incorporated and subsidiaries—notes to consolidated financial statements—note 2. acquisitions ” for further information related to the labarge acquisition . contractual obligations a summary of our contractual obligations at december 31 , 2013 was as follows ( in thousands ) : replace_table_token_13_th 37 ( 1 ) as of december 31 , 2013 , we recorded approximately $ 2.7 million in long-term liabilities related to uncertain tax positions . we are not able to reasonably estimate the timing of the long-term payments , or the amount by which our liability may increase or decrease over time , therefore , the liability or uncertain tax positions has not been included in the contractual obligations table . we have estimated that the fair value of our indemnification obligations as insignificant based upon our history with such obligations and insurance coverage and have included no such obligation in the table above . our ultimate liability with respect to groundwater contamination at certain das facilities will depend upon a number of factors , including changes in existing laws and regulations , the design and cost of construction , operation and maintenance activities , and the allocation of liability among potentially responsible parties . the above table does not include obligations related to these matters . for additional information , see “ part ii , item 8. ducommun incorporated and subsidiaries—notes to consolidated financial statements—note 14. contingencies . ” off-balance sheet arrangements our off-balance sheet arrangements consist of operating leases and indemnities . critical accounting policies critical accounting policies are those accounting policies that can have a significant impact on the presentation of our financial condition and results of operations and that require the use of subjective estimates based upon past experience and management 's judgment . because of the uncertainty inherent in such estimates , actual results may differ from these estimates . below are those policies applied in preparing our financial statements that management believes are the most dependent on the application of estimates and assumptions . for additional accounting policies , see `` part ii , item 8. ducommun incorporated and subsidiaries—notes to consolidated financial statements—note 1. summary of significant accounting policies . ” revenue recognition except as described below , we recognize revenue , including revenue from products sold under long-term contracts , when persuasive evidence of an arrangement exists , the price is fixed or determinable , collection is reasonably assured and delivery of products has occurred or services have been rendered . we have a significant number of contracts for which net sales are accounted for under the percentage-of-completion method using the units of delivery as the measure of completion . the percentage-of-completion method requires the use of assumptions and estimates related to the contract value , the total cost at completion , and measurement of progress toward completion . these contracts are primarily fixed-price contracts that vary widely in terms of size , length of performance period and expected gross profit margins . we also recognize revenue on the sale of services ( including prototype products ) based on the type of contract : time and materials , cost-plus reimbursement and firm-fixed price . revenue is recognized ( i ) on time and materials contracts as time is spent at hourly rates , which are negotiated with customers , plus the cost of any allowable materials and out-of-pocket expenses , ( ii ) on cost-plus reimbursement contracts based on direct and indirect costs incurred plus a negotiated profit calculated as a percentage of cost , a fixed amount or a performance-based award fee , and ( iii ) on fixed-price contracts on the percentage-of-completion method measured by the percentage of costs incurred to estimated total costs . revenue from services was less than 10 % of net sales for the periods presented . provision for estimated losses on contracts we record provisions for total anticipated losses on contracts considering total estimated costs to complete the contract compared to total anticipated revenues in the period in which such losses are identified . the provisions for estimated losses on contracts require management to make certain estimates and assumptions , including those with respect to the future revenue under a contract and the future cost to complete the contract . management 's estimate of the future cost to complete a contract may include assumptions as to improvements in manufacturing efficiency and reductions in operating and material costs . if any of these or other assumptions and estimates do not materialize in the future , we may be required to record additional provisions for estimated losses on contracts . in

liquidity and capital resources available liquidity total debt , the weighted-average interest rate , cash and cash equivalents and available credit facilities were as follows : replace_table_token_12_th in 2013 , we made significant progress on our plan to de-lever the balance sheet and paid $ 30.0 million of voluntary principal prepayments on our term loan , bringing the total of such prepayments to $ 55.0 million to date . we reduced our term loan to $ 132.6 million at december 31 , 2013 . we expect to voluntarily prepay $ 25.0 million to $ 30.0 million on the term loan in 2014 , funded by cash generated from operations . in march 2013 , we executed an amendment to our credit facilities which completed a repricing of our term loan and revolving credit facility . the repricing reduced the interest rate spread on the term loan and revolving credit facility by 50 basis points and the interest rate floor by 25 basis points under the libor rate or the alternate base rate . the libor rate has a floor of 1.00 % plus 3.75 % . the alternate base rate has a floor of 2.00 % plus 2.75 % . the alternate base rate is the greater of the ( a ) prime rate and ( b ) federal funds rate plus 0.5 % . our term loan matures on june 30 , 2017 , and our $ 60.0 million revolving credit facility matures on june 28 , 2016 .


 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 available liquidity total debt , the weighted-average interest rate , cash and cash equivalents and available credit facilities were as follows : replace_table_token_12_th in 2013 , we made significant progress on our plan to de-lever the balance sheet and paid $ 30.0 million of voluntary principal prepayments on our term loan , bringing the total of such prepayments to $ 55.0 million to date . we reduced our term loan to $ 132.6 million at december 31 , 2013 . we expect to voluntarily prepay $ 25.0 million to $ 30.0 million on the term loan in 2014 , funded by cash generated from operations . in march 2013 , we executed an amendment to our credit facilities which completed a repricing of our term loan and revolving credit facility . the repricing reduced the interest rate spread on the term loan and revolving credit facility by 50 basis points and the interest rate floor by 25 basis points under the libor rate or the alternate base rate . the libor rate has a floor of 1.00 % plus 3.75 % . the alternate base rate has a floor of 2.00 % plus 2.75 % . the alternate base rate is the greater of the ( a ) prime rate and ( b ) federal funds rate plus 0.5 % . our term loan matures on june 30 , 2017 , and our $ 60.0 million revolving credit facility matures on june 28 , 2016 .
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 Suspicious Activity Report : some of these limitations are : they do not reflect our cash expenditures , future requirements for capital expenditures or contractual commitments ; they do not reflect changes in , or cash requirements for , our working capital needs ; they do not reflect the significant interest expense or the cash requirements necessary to service interest or principal payments on our debt ; although depreciation and amortization are non-cash charges , the assets being depreciated and amortized will often have to be replaced in the future , and ebitda and adjusted ebitda do not reflect any cash requirements for such replacements ; they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows ; 23 they do not reflect the impact on earnings of charges resulting from matters unrelated to our ongoing operations ; and other companies in our industry may calculate ebitda and adjusted ebitda differently from us , limiting their usefulness as comparative measures . because of these limitations , ebitda , adjusted ebitda and the related financial ratios should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as a measure of cash that will be available to us to meet our obligations . you should compensate for these limitations by relying primarily on our gaap results and using ebitda and adjusted ebitda only supplementally . see our consolidated financial statements contained in this form 10-k report . however , in spite of the above limitations , we believe that ebitda and adjusted ebitda are useful to an investor in evaluating our results of operations because these measures : are widely used by investors to measure a company 's operating performance without regard to items excluded from the calculation of such terms , which can vary substantially from company to company depending upon accounting methods and book value of assets , capital structure and the method by which assets were acquired , among other factors ; help investors to evaluate and compare the results of our operations from period to period by removing the effect of our capital structure from our operating performance ; and are used by our management team for various other purposes in presentations to our board of directors as a basis for strategic planning and forecasting . the following financial items have been added back to our net income when calculating ebitda and adjusted ebitda : amortization expense may be useful to investors because it represents the estimated attrition of our acquired customer base and the diminishing value of product rights ; depreciation may be useful to investors because it generally represents the wear and tear on our property and equipment used in our operations ; asset impairments ( including goodwill ) may be useful to our investors because it generally represents a decline in value in our assets used in our operations ; merger–related expenses may be useful to investors for determining current cash flow ; interest expense may be useful to investors for determining current cash flow ; and income tax expense may be useful to investors because it represents the taxes which may be payable for the period and the change in deferred taxes during the period , and may reduce cash flow available for use in our business . reconciliations of net income ( loss ) to ebitda and adjusted ebitda and the presentation of adjusted ebitda as a percentage of net sales were as follows : replace_table_token_4_th 24 ( 1 ) 2011 includes the partial-year amortization of intangibles and depreciation expense related to the labarge acquisition . ( 2 ) 2011 includes the partial-year interest expense on outstanding debt balances and amortization of deferred financing costs related to the labarge acquisition . ( 3 ) 2013 includes asset impairment charges for the embraer legacy 450/500 contracts and boeing 777 wing tip contract . ( 4 ) 2012 and 2011 include merger-related transaction costs and change-in-control provision for certain labarge key executives and employees arising in connection with the labarge acquisition . ( 5 ) 2011 includes goodwill impairment charges related to the labarge acquisition . adjusted ebitda decreased in 2013 compared to 2012 primarily due to decreased net sales , mainly in non-aerospace and defense end-use markets , fourth quarter charges of $ 14.1 million for the embraer legacy 450/500 and boeing 777 wing tip contracts , and higher inventory reserve charges . adjusted ebitda increased in 2012 over 2011 primarily due to higher net income including the full-year effect of increased revenues and operating expenses , including higher depreciation and amortization expenses , and higher interest expense related to the labarge acquisition . 25 results of operations 2013 compared to 2012 the following table sets forth net sales , selected financial data , the effective tax rate and diluted earnings per share : replace_table_token_5_th nm = not meaningful 26 net sales by end-use market and operating segment net sales by end-use market and operating segment during 2013 and 2012 , respectively , were as follows : replace_table_token_6_th net sales for 2013 reflected the growth in the aerospace and defense end-use markets , which were more than offset by lower sales in the non-aerospace and defense end-use markets . net sales to major customers a significant portion of our sales are to our top ten customers . sales to boeing were approximately 18 % and sales to raytheon were approximately 10 % of total sales for 2013. sales decreased $ 10.4 million , or 1.4 % , to $ 736.7 million for the fiscal year ended december 31 , 2013 from $ 747.0 million for the fiscal year ended december 31 , 2012. the lower sales were the result of lower sales in the non-aerospace and defense markets , which was partially offset by higher sales in commercial aerospace and defense technologies . story_separator_special_tag 2012 compared to 2011 net cash provided by operating activities in 2012 compared to 2011 reflects higher net income , better working capital management , primarily in inventory , and improved operating efficiency . net cash used in operating activities for 2011 was impacted by lower net income , an increase in accounts receivables , primarily related to the timing of billings to customers and extension of payments by the customers , an increase in inventory , primarily related to work-in-process for production jobs scheduled to ship in 2012 and afterward , payments of accounts payable , and payments in 2011 for expenses recorded in accrued liabilities in 2010. net cash used in operating activities for 2011 was also negatively impacted by $ 25.6 million of merger-related expenses related to the labarge acquisition . net cash used in investing activities in 2011 of $ 339.8 million included $ 325.3 million for the labarge acquisition . capital expenditures to support new contract awards at dlt and das were comparable in 2012 and 2011. net cash provided by financing activities in 2011 of $ 374.0 million included approximately $ 390.0 million of borrowings , primarily to finance the labarge acquisition , $ 1.3 million of repayment of the term loan , and $ 14.0 million of debt issue cost paid , also related to the labarge acquisition . see “ part ii , item 8. ducommun incorporated and subsidiaries—notes to consolidated financial statements—note 2. acquisitions ” for further information related to the labarge acquisition . contractual obligations a summary of our contractual obligations at december 31 , 2013 was as follows ( in thousands ) : replace_table_token_13_th 37 ( 1 ) as of december 31 , 2013 , we recorded approximately $ 2.7 million in long-term liabilities related to uncertain tax positions . we are not able to reasonably estimate the timing of the long-term payments , or the amount by which our liability may increase or decrease over time , therefore , the liability or uncertain tax positions has not been included in the contractual obligations table . we have estimated that the fair value of our indemnification obligations as insignificant based upon our history with such obligations and insurance coverage and have included no such obligation in the table above . our ultimate liability with respect to groundwater contamination at certain das facilities will depend upon a number of factors , including changes in existing laws and regulations , the design and cost of construction , operation and maintenance activities , and the allocation of liability among potentially responsible parties . the above table does not include obligations related to these matters . for additional information , see “ part ii , item 8. ducommun incorporated and subsidiaries—notes to consolidated financial statements—note 14. contingencies . ” off-balance sheet arrangements our off-balance sheet arrangements consist of operating leases and indemnities . critical accounting policies critical accounting policies are those accounting policies that can have a significant impact on the presentation of our financial condition and results of operations and that require the use of subjective estimates based upon past experience and management 's judgment . because of the uncertainty inherent in such estimates , actual results may differ from these estimates . below are those policies applied in preparing our financial statements that management believes are the most dependent on the application of estimates and assumptions . for additional accounting policies , see `` part ii , item 8. ducommun incorporated and subsidiaries—notes to consolidated financial statements—note 1. summary of significant accounting policies . ” revenue recognition except as described below , we recognize revenue , including revenue from products sold under long-term contracts , when persuasive evidence of an arrangement exists , the price is fixed or determinable , collection is reasonably assured and delivery of products has occurred or services have been rendered . we have a significant number of contracts for which net sales are accounted for under the percentage-of-completion method using the units of delivery as the measure of completion . the percentage-of-completion method requires the use of assumptions and estimates related to the contract value , the total cost at completion , and measurement of progress toward completion . these contracts are primarily fixed-price contracts that vary widely in terms of size , length of performance period and expected gross profit margins . we also recognize revenue on the sale of services ( including prototype products ) based on the type of contract : time and materials , cost-plus reimbursement and firm-fixed price . revenue is recognized ( i ) on time and materials contracts as time is spent at hourly rates , which are negotiated with customers , plus the cost of any allowable materials and out-of-pocket expenses , ( ii ) on cost-plus reimbursement contracts based on direct and indirect costs incurred plus a negotiated profit calculated as a percentage of cost , a fixed amount or a performance-based award fee , and ( iii ) on fixed-price contracts on the percentage-of-completion method measured by the percentage of costs incurred to estimated total costs . revenue from services was less than 10 % of net sales for the periods presented . provision for estimated losses on contracts we record provisions for total anticipated losses on contracts considering total estimated costs to complete the contract compared to total anticipated revenues in the period in which such losses are identified . the provisions for estimated losses on contracts require management to make certain estimates and assumptions , including those with respect to the future revenue under a contract and the future cost to complete the contract . management 's estimate of the future cost to complete a contract may include assumptions as to improvements in manufacturing efficiency and reductions in operating and material costs . if any of these or other assumptions and estimates do not materialize in the future , we may be required to record additional provisions for estimated losses on contracts . in

