revenues were driven higher in 2014 by increases in product shipments in the gas and water segments and increased services revenue in the electricity segment , partially offset by a decline in product volumes in the electricity segment . 20 total backlog was $ 1.6 billion , and twelve-month backlog was $ 836.0 million at december 31 , 2015 . total company gross margin decreased 190 basis points in 2015 , compared with 2014 . during 2015 , gross margin was negatively impacted by a special warranty charge of $ 29.4 million in our water segment . the special warranty charge relates to a product replacement notification sent to customers of our water business who purchased certain communication modules manufactured between july 2013 and december 2014 that were failing prematurely . total company gross margin decreased 20 basis points in 2014 , compared with 2013. the gross margin reduction was the result of decreased margins in our electricity and gas segments , partially offset by improved margins in our water segment . on august 26 , 2015 , we completed our acquisition of 100 % of temetra limited ( temetra ) in a stock purchase . temetra is a technology company located in ireland and focused on meter data management and meter data collection in the water industry with a software-as-a-service business model . the acquisition strengthens our data analytics capabilities and provides us with additional cloud-based technology options for our water utility customers . the purchase price of temetra was $ 9.8 million ( net of $ 1.4 million of cash and cash equivalents acquired ) . refer to item 8 : “ financial statements and supplementary data , note 6 : goodwill ” for additional information about this acquisition . on june 23 , 2015 , we entered into an amended and restated credit agreement providing for committed credit facilities in the amount of $ 725 million u.s. dollars ( the 2015 credit facility ) . the 2015 credit facility consists of a $ 225 million u.s. dollar term loan ( the term loan ) and a multicurrency revolving line of credit ( the revolver ) with a principal amount of up to $ 500 million . the revolver also contains a $ 300 million standby letter of credit sub-facility and a $ 50 million swingline sub-facility ( available for immediate cash needs at a higher interest rate ) . the 2015 credit facility permits us and certain of our foreign subsidiaries to borrow in u.s. dollars , euros , british pounds , or , with lender approval , other currencies readily convertible into u.s. dollars . in november 2014 , our management approved restructuring projects ( 2014 projects ) to restructure our electricity business and related general and administrative activities , along with certain gas and water activities , to improve operational efficiencies and reduce expenses . the 2014 projects include consolidation of certain facilities and reduction of our global workforce . the improved structure will position us to meet our long-term profitability goals by better aligning global operations with markets where we can serve our customers profitably . we began implementing these projects in the fourth quarter of 2014 , and we expect to substantially complete these projects by the fourth quarter of 2016. upon completion of the 2014 projects , we expect to achieve annualized savings of $ 40 million . during the year ended december 31 , 2015 , the total expected restructuring costs decreased by approximately $ 15.1 million . this includes $ 12.2 million in restructuring severance expense release , recognized during the year ended december 31 , 2015 , resulting from employees , originally identified to be terminated , voluntarily resigning or filling vacant positions in different departments or locations , as well as the result of employee negotiations and the need to keep additional employees to meet revised forecasted demand on certain projects . in addition , we are expecting lower future legal costs associated with the termination of employees in certain locations . the favorable change in the translation impact of foreign exchange rates also lowered the expected remaining costs to be recognized . certain aspects of the projects are subject to a variety of labor and employment laws , rules , and regulations , which could result in a delay in completing the projects at some locations . on february 2 , 2015 , we reached a settlement agreement with the counterparty related to the product development contract litigation from the smartsynch , inc. acquisition . as a result of the settlement , we recognized litigation cost , net of recovery from an indemnification escrow from smartsynch shareholders , of $ 14.7 million , inclusive of attorney 's fees incurred , reflected in our results of operations for the year ended december 31 , 2014 within general and administrative expense . in 2015 , we recovered $ 8.2 million of costs associated with this settlement from smartsynch shareholders . on february 7 , 2014 , our board authorized a 12-month repurchase program of up to $ 50 million in shares of our common stock , to begin on march 8 , 2014 , upon the expiration of the previous stock repurchase program . under this program , we repurchased 1,246,241 shares of our common stock , which fully utilized the $ 50 million authorized under the program . on february 19 , 2015 , our board authorized a new repurchase program of up to $ 50 million of our common stock over a 12-month period , beginning february 19 , 2015. from february 19 , 2015 through december 31 , 2015 , we repurchased 743,444 shares of our common stock , totaling $ 25.0 million . story_separator_special_tag the increase was partially offset by lower product sales in latin america of $ 5.0 million due to continued reduced expenditures by our utility customers in that region . revenues - 2014 vs. 2013 in constant currency , revenues increased $ 42.3 million , or 8 % , in 2014 . the increase was driven primarily by growth in product sales in emea of $ 33.7 million , in latin america of $ 7.5 million , and in asia/pacific of $ 5.7 million . north america revenue declined $ 3.6 million due to the completion of a significant project in 2013. no single customer represented more than 10 % of the water operating segment revenues in 2015 , 2014 , or 2013 . gross margin - 2015 vs. 2014 gross margin decreased to 28.0 % in 2015 , compared with 35.1 % in 2014 , primarily as the result of a warranty charge of $ 29.4 million . this warranty charge negatively impacted 2015 gross margin by 570 basis points . gross margin - 2014 vs. 2013 gross margin increased to 35.1 % in 2014 , compared with 34.6 % in 2013 , due to decreases in manufacturing costs globally . operating expenses - 2015 vs. 2014 in constant currency , operating expenses increased $ 11.7 million , or 10 % , in 2015 . the increase was a result of a $ 4.1 million increase in sales and marketing expense , higher product development expense of $ 5.3 million , and a $ 4.7 million increase in general and administrative expenses , primarily due to higher litigation costs . these increases were partially offset by reductions in restructuring and intangible asset amortization expense totaling $ 2.4 million . operating expenses - 2014 vs. 2013 in constant currency , operating expenses increased by $ 7.1 million , or 6 % in 2014 . the increase was a result of a $ 3.7 million increase in sales and marketing expense , primarily higher compensation expense related to increased revenues , higher product development expense of $ 2.1 million , and a $ 4.2 million increase in general and administrative expenses . the overall increase was partially offset by a decrease in intangible asset amortization expense of $ 2.1 million . 29 non-gaap operating expenses - 2015 vs. 2014 total non-gaap operating expenses , as a percentage of revenues , were 23 % for the year ended december 31 , 2015 , compared with 21 % in 2014 . the increase was primarily the result of the reduced revenues for 2015. non-gaap operating expenses - 2014 vs. 2013 total non-gaap operating expenses , as a percentage of revenues , were 21 % for the years ended december 31 , 2014 and 2013 . corporate unallocated : operating expenses not directly associated with an operating segment are classified as “ corporate unallocated . ” these expenses decreased $ 3.6 million , or 5 % , in 2015. this decrease was primarily due to $ 18.1 million reduction in restructuring expenses , and a decrease in variable compensation . these decreases were partially offset by higher litigation expenses . corporate unallocated expenses increased $ 22.4 million , or 48 % , in 2014. this increase was primarily due to $ 13.8 million of increased restructuring expenses in 2014 , as well as an $ 8.1 million increase in general and administrative expense due to increased variable compensation expense and costs associated with our shared services center in ireland , which was established late in 2013. financial condition cash flow information : replace_table_token_15_th cash and cash equivalents at december 31 , 2015 were $ 131.0 million , compared with $ 112.4 million at december 31 , 2014 . the increase in cash and cash equivalents was primarily the result of an increase in proceeds from borrowings , a decrease in debt payments , and an increase in net income ( loss ) exclusive of depreciation and amortization and deferred income taxes . these were partially offset by an increase in inventory and decrease in restructuring liabilities . cash and cash equivalents at december 31 , 2014 were lower compared with the prior year primarily due to a decrease in net income ( loss ) exclusive of goodwill impairment , an increase in accounts receivable , and higher payments on debt . these were partially offset by increases in accounts payable , unearned revenue , and other current liabilities . operating activities net cash provided by operating activities in 2015 was $ 59.6 million lower than in 2014 . this decrease was primarily due to a $ 52.7 million increase in inventory in 2015 for expected demand in north america and emea , and a $ 57.4 million increased use of cash in other current liabilities due to payments and releases of significant restructuring accruals in 2015 as compared to a substantial increase in restructuring liabilities in 2014. additionally , while warranty liabilities increased $ 18.0 million in 2015 , cash paid for claims activity was lower compared to 2014 , resulting in a $ 27.5 million decreased use of cash . a year over year increase of $ 37.3 million in net income ( loss ) and a $ 36.2 million increase in deferred income taxes also increased cash provided by operating activities as compared with 2014. net cash provided by operating activities in 2014 was $ 27.6 million higher than 2013 . this increase was primarily due to a decrease in accounts payable payments of $ 20.8 million due to timing , a $ 21.8 million increase in deferred revenue , and a decline in inventory in 2014 as compared to an increase in 2013 , resulting in $ 19.6 million increased cash , and an increase in other liabilities of $ 27.1 million as a result of restructuring activities and litigation accruals recognized at the end of 2014. these increases were partially offset by the decrease in net income of $ 45.6 million

net cash used in financing activities in 2014 was $ 34.4 million higher than in 2013 , primarily as a result of increased repayments of debt , net of proceeds from borrowings , of $ 16.0 million in 2014 , and an increase of $ 12.7 million in repurchases of our common stock . effect of exchange rates on cash and cash equivalents changes in exchange rates on the cash balances of currencies held in foreign denominations resulted in a decrease of $ 13.5 million , a decrease of $ 12.0 million , and a decrease of $ 2.8 million in 2015 , 2014 , and 2013 , respectively . our foreign currency exposure relates to non-u.s. dollar denominated balances in our international subsidiary operations , the most significant of which is the euro . free cash flow ( non-gaap ) to supplement our consolidated statements of cash flows presented on a gaap basis , we use the non-gaap measure of free cash flow to analyze cash flows generated from our operations . the presentation of non-gaap free cash flow is not meant to be considered in isolation or as an alternative to net income as an indicator of our performance , or as an alternative to cash flows from operating activities as a measure of liquidity . we calculate free cash flows , using amounts from our consolidated statements of cash flows , as follows : replace_table_token_16_th free cash flow in 2015 was $ 59.0 million lower than in 2014 as a result of lower cash provided by operating activities . see the cash flow discussion of operating activities above . free cash flow in 2014 was $ 43.1 million greater than in 2013 , primarily as result of a $ 27.6 million increase in cash provided by operating activities and a $ 15.5 million decrease in acquisitions of property , plant , and equipment . see the cash flow discussion of operating and investing activities above .


 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.
     ```net cash used in financing activities in 2014 was $ 34.4 million higher than in 2013 , primarily as a result of increased repayments of debt , net of proceeds from borrowings , of $ 16.0 million in 2014 , and an increase of $ 12.7 million in repurchases of our common stock . effect of exchange rates on cash and cash equivalents changes in exchange rates on the cash balances of currencies held in foreign denominations resulted in a decrease of $ 13.5 million , a decrease of $ 12.0 million , and a decrease of $ 2.8 million in 2015 , 2014 , and 2013 , respectively . our foreign currency exposure relates to non-u.s. dollar denominated balances in our international subsidiary operations , the most significant of which is the euro . free cash flow ( non-gaap ) to supplement our consolidated statements of cash flows presented on a gaap basis , we use the non-gaap measure of free cash flow to analyze cash flows generated from our operations . the presentation of non-gaap free cash flow is not meant to be considered in isolation or as an alternative to net income as an indicator of our performance , or as an alternative to cash flows from operating activities as a measure of liquidity . we calculate free cash flows , using amounts from our consolidated statements of cash flows , as follows : replace_table_token_16_th free cash flow in 2015 was $ 59.0 million lower than in 2014 as a result of lower cash provided by operating activities . see the cash flow discussion of operating activities above . free cash flow in 2014 was $ 43.1 million greater than in 2013 , primarily as result of a $ 27.6 million increase in cash provided by operating activities and a $ 15.5 million decrease in acquisitions of property , plant , and equipment . see the cash flow discussion of operating and investing activities above .
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 Suspicious Activity Report : revenues were driven higher in 2014 by increases in product shipments in the gas and water segments and increased services revenue in the electricity segment , partially offset by a decline in product volumes in the electricity segment . 20 total backlog was $ 1.6 billion , and twelve-month backlog was $ 836.0 million at december 31 , 2015 . total company gross margin decreased 190 basis points in 2015 , compared with 2014 . during 2015 , gross margin was negatively impacted by a special warranty charge of $ 29.4 million in our water segment . the special warranty charge relates to a product replacement notification sent to customers of our water business who purchased certain communication modules manufactured between july 2013 and december 2014 that were failing prematurely . total company gross margin decreased 20 basis points in 2014 , compared with 2013. the gross margin reduction was the result of decreased margins in our electricity and gas segments , partially offset by improved margins in our water segment . on august 26 , 2015 , we completed our acquisition of 100 % of temetra limited ( temetra ) in a stock purchase . temetra is a technology company located in ireland and focused on meter data management and meter data collection in the water industry with a software-as-a-service business model . the acquisition strengthens our data analytics capabilities and provides us with additional cloud-based technology options for our water utility customers . the purchase price of temetra was $ 9.8 million ( net of $ 1.4 million of cash and cash equivalents acquired ) . refer to item 8 : “ financial statements and supplementary data , note 6 : goodwill ” for additional information about this acquisition . on june 23 , 2015 , we entered into an amended and restated credit agreement providing for committed credit facilities in the amount of $ 725 million u.s. dollars ( the 2015 credit facility ) . the 2015 credit facility consists of a $ 225 million u.s. dollar term loan ( the term loan ) and a multicurrency revolving line of credit ( the revolver ) with a principal amount of up to $ 500 million . the revolver also contains a $ 300 million standby letter of credit sub-facility and a $ 50 million swingline sub-facility ( available for immediate cash needs at a higher interest rate ) . the 2015 credit facility permits us and certain of our foreign subsidiaries to borrow in u.s. dollars , euros , british pounds , or , with lender approval , other currencies readily convertible into u.s. dollars . in november 2014 , our management approved restructuring projects ( 2014 projects ) to restructure our electricity business and related general and administrative activities , along with certain gas and water activities , to improve operational efficiencies and reduce expenses . the 2014 projects include consolidation of certain facilities and reduction of our global workforce . the improved structure will position us to meet our long-term profitability goals by better aligning global operations with markets where we can serve our customers profitably . we began implementing these projects in the fourth quarter of 2014 , and we expect to substantially complete these projects by the fourth quarter of 2016. upon completion of the 2014 projects , we expect to achieve annualized savings of $ 40 million . during the year ended december 31 , 2015 , the total expected restructuring costs decreased by approximately $ 15.1 million . this includes $ 12.2 million in restructuring severance expense release , recognized during the year ended december 31 , 2015 , resulting from employees , originally identified to be terminated , voluntarily resigning or filling vacant positions in different departments or locations , as well as the result of employee negotiations and the need to keep additional employees to meet revised forecasted demand on certain projects . in addition , we are expecting lower future legal costs associated with the termination of employees in certain locations . the favorable change in the translation impact of foreign exchange rates also lowered the expected remaining costs to be recognized . certain aspects of the projects are subject to a variety of labor and employment laws , rules , and regulations , which could result in a delay in completing the projects at some locations . on february 2 , 2015 , we reached a settlement agreement with the counterparty related to the product development contract litigation from the smartsynch , inc. acquisition . as a result of the settlement , we recognized litigation cost , net of recovery from an indemnification escrow from smartsynch shareholders , of $ 14.7 million , inclusive of attorney 's fees incurred , reflected in our results of operations for the year ended december 31 , 2014 within general and administrative expense . in 2015 , we recovered $ 8.2 million of costs associated with this settlement from smartsynch shareholders . on february 7 , 2014 , our board authorized a 12-month repurchase program of up to $ 50 million in shares of our common stock , to begin on march 8 , 2014 , upon the expiration of the previous stock repurchase program . under this program , we repurchased 1,246,241 shares of our common stock , which fully utilized the $ 50 million authorized under the program . on february 19 , 2015 , our board authorized a new repurchase program of up to $ 50 million of our common stock over a 12-month period , beginning february 19 , 2015. from february 19 , 2015 through december 31 , 2015 , we repurchased 743,444 shares of our common stock , totaling $ 25.0 million . story_separator_special_tag the increase was partially offset by lower product sales in latin america of $ 5.0 million due to continued reduced expenditures by our utility customers in that region . revenues - 2014 vs. 2013 in constant currency , revenues increased $ 42.3 million , or 8 % , in 2014 . the increase was driven primarily by growth in product sales in emea of $ 33.7 million , in latin america of $ 7.5 million , and in asia/pacific of $ 5.7 million . north america revenue declined $ 3.6 million due to the completion of a significant project in 2013. no single customer represented more than 10 % of the water operating segment revenues in 2015 , 2014 , or 2013 . gross margin - 2015 vs. 2014 gross margin decreased to 28.0 % in 2015 , compared with 35.1 % in 2014 , primarily as the result of a warranty charge of $ 29.4 million . this warranty charge negatively impacted 2015 gross margin by 570 basis points . gross margin - 2014 vs. 2013 gross margin increased to 35.1 % in 2014 , compared with 34.6 % in 2013 , due to decreases in manufacturing costs globally . operating expenses - 2015 vs. 2014 in constant currency , operating expenses increased $ 11.7 million , or 10 % , in 2015 . the increase was a result of a $ 4.1 million increase in sales and marketing expense , higher product development expense of $ 5.3 million , and a $ 4.7 million increase in general and administrative expenses , primarily due to higher litigation costs . these increases were partially offset by reductions in restructuring and intangible asset amortization expense totaling $ 2.4 million . operating expenses - 2014 vs. 2013 in constant currency , operating expenses increased by $ 7.1 million , or 6 % in 2014 . the increase was a result of a $ 3.7 million increase in sales and marketing expense , primarily higher compensation expense related to increased revenues , higher product development expense of $ 2.1 million , and a $ 4.2 million increase in general and administrative expenses . the overall increase was partially offset by a decrease in intangible asset amortization expense of $ 2.1 million . 29 non-gaap operating expenses - 2015 vs. 2014 total non-gaap operating expenses , as a percentage of revenues , were 23 % for the year ended december 31 , 2015 , compared with 21 % in 2014 . the increase was primarily the result of the reduced revenues for 2015. non-gaap operating expenses - 2014 vs. 2013 total non-gaap operating expenses , as a percentage of revenues , were 21 % for the years ended december 31 , 2014 and 2013 . corporate unallocated : operating expenses not directly associated with an operating segment are classified as “ corporate unallocated . ” these expenses decreased $ 3.6 million , or 5 % , in 2015. this decrease was primarily due to $ 18.1 million reduction in restructuring expenses , and a decrease in variable compensation . these decreases were partially offset by higher litigation expenses . corporate unallocated expenses increased $ 22.4 million , or 48 % , in 2014. this increase was primarily due to $ 13.8 million of increased restructuring expenses in 2014 , as well as an $ 8.1 million increase in general and administrative expense due to increased variable compensation expense and costs associated with our shared services center in ireland , which was established late in 2013. financial condition cash flow information : replace_table_token_15_th cash and cash equivalents at december 31 , 2015 were $ 131.0 million , compared with $ 112.4 million at december 31 , 2014 . the increase in cash and cash equivalents was primarily the result of an increase in proceeds from borrowings , a decrease in debt payments , and an increase in net income ( loss ) exclusive of depreciation and amortization and deferred income taxes . these were partially offset by an increase in inventory and decrease in restructuring liabilities . cash and cash equivalents at december 31 , 2014 were lower compared with the prior year primarily due to a decrease in net income ( loss ) exclusive of goodwill impairment , an increase in accounts receivable , and higher payments on debt . these were partially offset by increases in accounts payable , unearned revenue , and other current liabilities . operating activities net cash provided by operating activities in 2015 was $ 59.6 million lower than in 2014 . this decrease was primarily due to a $ 52.7 million increase in inventory in 2015 for expected demand in north america and emea , and a $ 57.4 million increased use of cash in other current liabilities due to payments and releases of significant restructuring accruals in 2015 as compared to a substantial increase in restructuring liabilities in 2014. additionally , while warranty liabilities increased $ 18.0 million in 2015 , cash paid for claims activity was lower compared to 2014 , resulting in a $ 27.5 million decreased use of cash . a year over year increase of $ 37.3 million in net income ( loss ) and a $ 36.2 million increase in deferred income taxes also increased cash provided by operating activities as compared with 2014. net cash provided by operating activities in 2014 was $ 27.6 million higher than 2013 . this increase was primarily due to a decrease in accounts payable payments of $ 20.8 million due to timing , a $ 21.8 million increase in deferred revenue , and a decline in inventory in 2014 as compared to an increase in 2013 , resulting in $ 19.6 million increased cash , and an increase in other liabilities of $ 27.1 million as a result of restructuring activities and litigation accruals recognized at the end of 2014. these increases were partially offset by the decrease in net income of $ 45.6 million

