consumption ; weather conditions ; environmental and other governmental regulations ; and domestic and international tax policies . we have experienced slow but steady global economic growth during 2013. this global economic growth has been periodically interrupted with periods of strong volatility that tend to disrupt the global markets for a short duration before the markets and global economies resume their collective general slow upward trend . in the fourth quarter of 2013 , some of these market disruptions included the u.s. federal reserve 's announcement of the tapering of its multi-year “ quantitative easing ” program and more recently the disruptions in certain emerging market nations and the increasing concerns over the liquidity situation of the banking system within china . the economic news out of europe has been mostly positive and its economic growth outlook appears to be growing slightly faster than previously reported . any news suggesting weak or declining economic data could affect the global equity and commodity markets , which could adversely affect normal business activities . the oil and natural gas industry has been adversely affected by the uncertainty of the general timing and level of the economic recovery as well as the uncertainties concerning government regulation of the industry , particularly in the united states . over the longer term , the fundamentals for our business remain favorable as the need for continued replenishment of oil and gas production is the primary driver of demand for our services . we believe that the long-term industry fundamentals are positive based on the following factors : ( 1 ) long-term increasing world demand for oil and natural gas emphasizing the need for continual replenishment of oil and gas production ; ( 2 ) mature global production rates for offshore and subsea wells ; ( 3 ) globalization of the natural gas market ; ( 4 ) an increasing number of mature and small reservoirs ; ( 5 ) increasing offshore activity , particularly in deepwater ; and ( 6 ) an increasing number of subsea developments . 34 at december 31 , 2013 , we had cash on hand of $ 478.2 million and $ 584.2 million available for borrowing under our revolving credit facility . our capital expenditures for 2014 are expected to total approximately $ 400 million . if we successfully implement our business plan , we believe we have sufficient liquidity without incurring additional indebtedness beyond the existing capacity under the revolving credit facility . business activity summary during the four year period between 2009 and 2012 , we enhanced our financial position via the generation of approximately $ 615 million in pre-tax proceeds primarily from dispositions of non-core business assets in order to strategically grow our core businesses . these dispositions include approximately $ 55 million from the sale of individual oil and gas properties , over $ 500 million from the sale of our stockholdings in cal dive and $ 25 million from the sale of our former reservoir consulting business . in october 2012 , we entered into an agreement to sell our two remaining pipelay vessels , the caesar and the express , and other related pipelay equipment for $ 238.3 million . in june 2013 , we completed the sale of the caesar and related equipment for $ 138.3 million , which amount included $ 30 million of funds deposited with us at the time the agreement was entered into by the parties . we used $ 80.1 million of the proceeds from the sale of the caesar to reduce our indebtedness under our former credit agreement and we are investing the remainder in our continuing operations , including supporting the growth of our well intervention and robotics operations . in july 2013 , we completed the sale of the express for $ 100 million , including the remaining $ 20 million of previously deposited funds . in february 2013 , we sold ert for $ 624 million plus additional consideration in the form of overriding royalty interests in ert 's wang well and certain exploration prospects . in january 2014 , we closed the sale of our spoolbase property located in ingleside , texas for $ 45 million to the same group of companies that acquired the caesar and the express . in connection with this sale , we received $ 15 million in cash and hold a $ 30 million promissory note , in which a $ 10 million principal reduction in the note 's balance is required to be paid to us on each december 31 in 2014 , 2015 and 2016. the sale of our ingleside spoolbase is expected to result in an approximately $ 10.5 million gain in the first quarter of 2014. as we focus on our well intervention and robotics operations , we conducted the following activities in 2013 to expand our services capabilities : we executed a contract with a shipyard in singapore for the construction of a newbuild semisubmersible well intervention vessel , the q7000 , which is expected to be completed and placed in service in 2016 ; we took possession in april 2013 of the chartered skandi constructor , which joined our north sea well intervention fleet in september 2013 ; we chartered the rem installer effective july 2013 ; we substantially completed the conversion of the helix 534 into a well intervention vessel in 2013 and the vessel commenced well intervention operations in the gulf of mexico in february 2014 ; and we entered into charter agreements for two newbuild rov support vessels , the grand canyon ii and the grand canyon iii . , which are expected to be delivered to us in 2014 and 2015 , respectively . results of operations historically , our well intervention , robotics , subsea construction and production facilities operations were reported as two segments : contracting services and production facilities . story_separator_special_tag our robotics revenues increased by 34 % in 2012 as compared to 2011 reflecting high utilization of our chartered vessels and owned rovs , the utilization of a number of additional spot market vessels for much of 2012 , and the performance of a number of north sea trenching projects in early 2012 ( which activities are not normally conducted during the first quarter in large part because of seasonal weather patterns ) . our subsea construction revenues increased by 27 % in 2012 as compared to 2011. our revenues benefited from an increase in activity in the gulf of mexico in the first quarter of 2012 , full year deployment of the caesar on an accommodation project in mexico which commenced in the fourth quarter of 2011 , and the express working offshore israel and in the north sea for most of the second and third quarters of 2012. our production facilities revenues increased by 6 % in 2012 as compared to 2011 , which primarily reflects the inclusion of the quarterly hfrs retainer fee , which commenced on april 1 , 2011. gross profit . our gross profit decreased by 67 % in 2012 as compared to 2011. this decrease was primarily attributed to asset impairment charges of $ 157.8 million for the caesar and related mobile pipelay equipment , $ 14.6 million for the intrepid , and $ 4.6 million for well intervention assets associated with our former operations in australia ( note 2 ) . excluding the aforementioned impairment charges , our gross profit increased by 52 % in 2012 as compared to 2011 reflecting the increased activity in all of our business segments . as discussed in “ revenues ” above , our well intervention business was negatively impacted in 2012 because of the lost utilization of our q4000 , seawell a nd well enhancer well intervention vessels as a result of extended regulatory dry docks . in 2012 , our well intervention revenues benefitted from the rental of additional well intervention equipment to third parties . our robotics gross profit increased by 46 % in 2012 as compared to 2011 reflecting increased utilization of its then existing asset base thereby reducing idle costs , and the use of spot vessels for much of 2012. excluding the effect of the $ 172.4 million of impairment charges associated with its pipelay vessels and related equipment , subsea construction gross profit increased $ 47.1 million as compared to 2011. the increase primarily reflects the high margins achieved on many of our subsea projects in 2012 , more specifically with respect to a very successful project located offshore israel . 41 loss on commodity derivative contracts . the $ 10.5 million loss on commodity derivative contracts primarily reflects the amount of mark-to-market loss on unsettled oil and gas commodity derivative contracts associated with de-designation of these contracts as hedging instruments following the announcement in december 2012 of the sale of ert . loss on sale of assets , net . the $ 13.5 million loss on the disposition of assets in 2012 reflects the sale of the intrepid in september 2012 ( note 2 ) . selling , general and administrative expenses . our selling , general and administrative expenses increased by $ 7.8 million in 2012 as compared to 2011. the increase was associated with higher long-term incentive compensation , which primarily reflects the fact that amortization of awards granted in 2012 vest over a period of three years ( as compared to a five-year vesting period for all long-term incentive awards granted prior to 2012 ) ( note 9 ) . additionally , the 2012 amount includes approximately $ 3.5 million of severance and other closure costs associated with our decision to sell our remaining pipelay assets , to cease our australian well intervention operations and to terminate the remaining lease term and other related closure costs associated with a former office located in rotterdam , the netherlands . lastly , our 2012 amount also includes $ 2.6 million drawn against a letter of credit related to an international well abandonment project which was completed in 2011. we are seeking return of this amount but collection is not reasonably assured . our selling , general and administrative expenses in 2011 include $ 1.6 million of severance costs related to the resignation of our former executive vice president and chief operating officer . as a percentage of revenues , our selling , general and administrative expenses were higher than our previously-reported amounts due to previously-allocated corporate shared services costs related to ert being included in the results of our continuing operations . under the applicable accounting guidance , such allocations are not permitted to be excluded from our selling , general and administrative expenses when a former business is presented as discontinued operations . the amount of corporate shared services that were previously allocated to ert totaled $ 14.9 million in 2012 and $ 18.5 million in 2011. equity in earnings of investments . equity in earnings of investments decreased by $ 13.8 million in 2012 as compared to 2011. the decrease was primarily due to independence hub receiving lower fees from major customers of the facility following the expiration of a five-year supplemental monthly demand fee in march 2012 , as well as lower throughput at both the deepwater gateway and independence hub facilities reflecting both storm-related disruptions and normal production declines of the fields using the facilities . net interest expense . our net interest expense totaled $ 48.2 million in 2012 as compared to $ 70.2 million in 2011. the decrease in interest expense primarily reflects a $ 275 million reduction of our senior unsecured notes indebtedness , including the early extinguishment of $ 75 million in the third quarter of 2011 and $ 200 million in the first quarter of 2012. the senior unsecured notes bore a 9.5 % interest rate which was greater than the 5.4 % weighted average interest rate of

liquidity and capital resources overview the following table presents certain information useful in the analysis of our financial condition and liquidity as of december 31 , 2013 and 2012 ( in thousands ) : replace_table_token_18_th ( 1 ) long-term debt does not include the current maturities portion of the long-term debt as that amount is included in net working capital . it is also net of unamortized debt discount on the 2032 notes . we repaid $ 318.4 million of our outstanding indebtedness in february 2013 following the sale of ert , and $ 150.4 million in june 2013 with proceeds from the sale of the caesar and cash generated from operations ( see table below ) . see note 7 for information related to our existing debt . ( 2 ) liquidity , as defined by us , is equal to cash and cash equivalents plus available capacity under our revolving credit facility , which capacity is reduced by current letters of credit drawn against the facility . our liquidity at december 31 , 2013 includes cash and cash equivalents of $ 478.2 million and $ 584.2 million of available borrowing capacity under our revolving credit facility ( note 7 ) . our liquidity at december 31 , 2012 includes cash and cash equivalents of $ 437.1 million and $ 487.6 million of available borrowing capacity under our former revolving credit facility . the increase in our liquidity reflects proceeds from the sales of ert , the caesar and the express . the carrying amount of our debt , including current maturities , as of december 31 , 2013 and 2012 is as follows ( in thousands ) : replace_table_token_19_th 43 ( 1 ) in february 2013 , we repaid $ 293.9 million of our former term loan debt and $ 24.5 million under our former revolving credit facility with the proceeds from the sale of ert . in june 2013 , we used $ 150.4 million of the proceeds from the sale of the caesar as well as cash generated from operations to repay the remaining amounts outstanding under our former credit agreement ( note 7 ) .


 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 overview the following table presents certain information useful in the analysis of our financial condition and liquidity as of december 31 , 2013 and 2012 ( in thousands ) : replace_table_token_18_th ( 1 ) long-term debt does not include the current maturities portion of the long-term debt as that amount is included in net working capital . it is also net of unamortized debt discount on the 2032 notes . we repaid $ 318.4 million of our outstanding indebtedness in february 2013 following the sale of ert , and $ 150.4 million in june 2013 with proceeds from the sale of the caesar and cash generated from operations ( see table below ) . see note 7 for information related to our existing debt . ( 2 ) liquidity , as defined by us , is equal to cash and cash equivalents plus available capacity under our revolving credit facility , which capacity is reduced by current letters of credit drawn against the facility . our liquidity at december 31 , 2013 includes cash and cash equivalents of $ 478.2 million and $ 584.2 million of available borrowing capacity under our revolving credit facility ( note 7 ) . our liquidity at december 31 , 2012 includes cash and cash equivalents of $ 437.1 million and $ 487.6 million of available borrowing capacity under our former revolving credit facility . the increase in our liquidity reflects proceeds from the sales of ert , the caesar and the express . the carrying amount of our debt , including current maturities , as of december 31 , 2013 and 2012 is as follows ( in thousands ) : replace_table_token_19_th 43 ( 1 ) in february 2013 , we repaid $ 293.9 million of our former term loan debt and $ 24.5 million under our former revolving credit facility with the proceeds from the sale of ert . in june 2013 , we used $ 150.4 million of the proceeds from the sale of the caesar as well as cash generated from operations to repay the remaining amounts outstanding under our former credit agreement ( note 7 ) .
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 Suspicious Activity Report : consumption ; weather conditions ; environmental and other governmental regulations ; and domestic and international tax policies . we have experienced slow but steady global economic growth during 2013. this global economic growth has been periodically interrupted with periods of strong volatility that tend to disrupt the global markets for a short duration before the markets and global economies resume their collective general slow upward trend . in the fourth quarter of 2013 , some of these market disruptions included the u.s. federal reserve 's announcement of the tapering of its multi-year “ quantitative easing ” program and more recently the disruptions in certain emerging market nations and the increasing concerns over the liquidity situation of the banking system within china . the economic news out of europe has been mostly positive and its economic growth outlook appears to be growing slightly faster than previously reported . any news suggesting weak or declining economic data could affect the global equity and commodity markets , which could adversely affect normal business activities . the oil and natural gas industry has been adversely affected by the uncertainty of the general timing and level of the economic recovery as well as the uncertainties concerning government regulation of the industry , particularly in the united states . over the longer term , the fundamentals for our business remain favorable as the need for continued replenishment of oil and gas production is the primary driver of demand for our services . we believe that the long-term industry fundamentals are positive based on the following factors : ( 1 ) long-term increasing world demand for oil and natural gas emphasizing the need for continual replenishment of oil and gas production ; ( 2 ) mature global production rates for offshore and subsea wells ; ( 3 ) globalization of the natural gas market ; ( 4 ) an increasing number of mature and small reservoirs ; ( 5 ) increasing offshore activity , particularly in deepwater ; and ( 6 ) an increasing number of subsea developments . 34 at december 31 , 2013 , we had cash on hand of $ 478.2 million and $ 584.2 million available for borrowing under our revolving credit facility . our capital expenditures for 2014 are expected to total approximately $ 400 million . if we successfully implement our business plan , we believe we have sufficient liquidity without incurring additional indebtedness beyond the existing capacity under the revolving credit facility . business activity summary during the four year period between 2009 and 2012 , we enhanced our financial position via the generation of approximately $ 615 million in pre-tax proceeds primarily from dispositions of non-core business assets in order to strategically grow our core businesses . these dispositions include approximately $ 55 million from the sale of individual oil and gas properties , over $ 500 million from the sale of our stockholdings in cal dive and $ 25 million from the sale of our former reservoir consulting business . in october 2012 , we entered into an agreement to sell our two remaining pipelay vessels , the caesar and the express , and other related pipelay equipment for $ 238.3 million . in june 2013 , we completed the sale of the caesar and related equipment for $ 138.3 million , which amount included $ 30 million of funds deposited with us at the time the agreement was entered into by the parties . we used $ 80.1 million of the proceeds from the sale of the caesar to reduce our indebtedness under our former credit agreement and we are investing the remainder in our continuing operations , including supporting the growth of our well intervention and robotics operations . in july 2013 , we completed the sale of the express for $ 100 million , including the remaining $ 20 million of previously deposited funds . in february 2013 , we sold ert for $ 624 million plus additional consideration in the form of overriding royalty interests in ert 's wang well and certain exploration prospects . in january 2014 , we closed the sale of our spoolbase property located in ingleside , texas for $ 45 million to the same group of companies that acquired the caesar and the express . in connection with this sale , we received $ 15 million in cash and hold a $ 30 million promissory note , in which a $ 10 million principal reduction in the note 's balance is required to be paid to us on each december 31 in 2014 , 2015 and 2016. the sale of our ingleside spoolbase is expected to result in an approximately $ 10.5 million gain in the first quarter of 2014. as we focus on our well intervention and robotics operations , we conducted the following activities in 2013 to expand our services capabilities : we executed a contract with a shipyard in singapore for the construction of a newbuild semisubmersible well intervention vessel , the q7000 , which is expected to be completed and placed in service in 2016 ; we took possession in april 2013 of the chartered skandi constructor , which joined our north sea well intervention fleet in september 2013 ; we chartered the rem installer effective july 2013 ; we substantially completed the conversion of the helix 534 into a well intervention vessel in 2013 and the vessel commenced well intervention operations in the gulf of mexico in february 2014 ; and we entered into charter agreements for two newbuild rov support vessels , the grand canyon ii and the grand canyon iii . , which are expected to be delivered to us in 2014 and 2015 , respectively . results of operations historically , our well intervention , robotics , subsea construction and production facilities operations were reported as two segments : contracting services and production facilities . story_separator_special_tag our robotics revenues increased by 34 % in 2012 as compared to 2011 reflecting high utilization of our chartered vessels and owned rovs , the utilization of a number of additional spot market vessels for much of 2012 , and the performance of a number of north sea trenching projects in early 2012 ( which activities are not normally conducted during the first quarter in large part because of seasonal weather patterns ) . our subsea construction revenues increased by 27 % in 2012 as compared to 2011. our revenues benefited from an increase in activity in the gulf of mexico in the first quarter of 2012 , full year deployment of the caesar on an accommodation project in mexico which commenced in the fourth quarter of 2011 , and the express working offshore israel and in the north sea for most of the second and third quarters of 2012. our production facilities revenues increased by 6 % in 2012 as compared to 2011 , which primarily reflects the inclusion of the quarterly hfrs retainer fee , which commenced on april 1 , 2011. gross profit . our gross profit decreased by 67 % in 2012 as compared to 2011. this decrease was primarily attributed to asset impairment charges of $ 157.8 million for the caesar and related mobile pipelay equipment , $ 14.6 million for the intrepid , and $ 4.6 million for well intervention assets associated with our former operations in australia ( note 2 ) . excluding the aforementioned impairment charges , our gross profit increased by 52 % in 2012 as compared to 2011 reflecting the increased activity in all of our business segments . as discussed in “ revenues ” above , our well intervention business was negatively impacted in 2012 because of the lost utilization of our q4000 , seawell a nd well enhancer well intervention vessels as a result of extended regulatory dry docks . in 2012 , our well intervention revenues benefitted from the rental of additional well intervention equipment to third parties . our robotics gross profit increased by 46 % in 2012 as compared to 2011 reflecting increased utilization of its then existing asset base thereby reducing idle costs , and the use of spot vessels for much of 2012. excluding the effect of the $ 172.4 million of impairment charges associated with its pipelay vessels and related equipment , subsea construction gross profit increased $ 47.1 million as compared to 2011. the increase primarily reflects the high margins achieved on many of our subsea projects in 2012 , more specifically with respect to a very successful project located offshore israel . 41 loss on commodity derivative contracts . the $ 10.5 million loss on commodity derivative contracts primarily reflects the amount of mark-to-market loss on unsettled oil and gas commodity derivative contracts associated with de-designation of these contracts as hedging instruments following the announcement in december 2012 of the sale of ert . loss on sale of assets , net . the $ 13.5 million loss on the disposition of assets in 2012 reflects the sale of the intrepid in september 2012 ( note 2 ) . selling , general and administrative expenses . our selling , general and administrative expenses increased by $ 7.8 million in 2012 as compared to 2011. the increase was associated with higher long-term incentive compensation , which primarily reflects the fact that amortization of awards granted in 2012 vest over a period of three years ( as compared to a five-year vesting period for all long-term incentive awards granted prior to 2012 ) ( note 9 ) . additionally , the 2012 amount includes approximately $ 3.5 million of severance and other closure costs associated with our decision to sell our remaining pipelay assets , to cease our australian well intervention operations and to terminate the remaining lease term and other related closure costs associated with a former office located in rotterdam , the netherlands . lastly , our 2012 amount also includes $ 2.6 million drawn against a letter of credit related to an international well abandonment project which was completed in 2011. we are seeking return of this amount but collection is not reasonably assured . our selling , general and administrative expenses in 2011 include $ 1.6 million of severance costs related to the resignation of our former executive vice president and chief operating officer . as a percentage of revenues , our selling , general and administrative expenses were higher than our previously-reported amounts due to previously-allocated corporate shared services costs related to ert being included in the results of our continuing operations . under the applicable accounting guidance , such allocations are not permitted to be excluded from our selling , general and administrative expenses when a former business is presented as discontinued operations . the amount of corporate shared services that were previously allocated to ert totaled $ 14.9 million in 2012 and $ 18.5 million in 2011. equity in earnings of investments . equity in earnings of investments decreased by $ 13.8 million in 2012 as compared to 2011. the decrease was primarily due to independence hub receiving lower fees from major customers of the facility following the expiration of a five-year supplemental monthly demand fee in march 2012 , as well as lower throughput at both the deepwater gateway and independence hub facilities reflecting both storm-related disruptions and normal production declines of the fields using the facilities . net interest expense . our net interest expense totaled $ 48.2 million in 2012 as compared to $ 70.2 million in 2011. the decrease in interest expense primarily reflects a $ 275 million reduction of our senior unsecured notes indebtedness , including the early extinguishment of $ 75 million in the third quarter of 2011 and $ 200 million in the first quarter of 2012. the senior unsecured notes bore a 9.5 % interest rate which was greater than the 5.4 % weighted average interest rate of

