the company is targeting national price increases of approximately 2 % to offset anticipated upward pressures on ingredients , packaging and freight costs , as well as increased investments behind the company 's brands . full-year 2014 gross margins are currently expected to be between 51 % and 53 % . the company intends to increase advertising , promotional and selling expenses by between $ 34 million and $ 42 million for the full year 2014 , which does not include any increases in freight costs for the shipment of products to its distributors . the company estimates increased investments of between $ 5 million and $ 7 million in existing brands developed by alchemy & science , which are included in our full year estimated increases in advertising , promotional and selling expenses . brand investments in the alchemy & science brands could vary significantly from current estimates . the company intends to increase its investment in its brands in 2014 commensurate with the opportunities for growth that it sees , but there is no guarantee that such increased investments will result in increased volumes . the company estimates a full-year 2014 effective tax rate of approximately 38 % . the company is continuing to evaluate 2014 capital expenditures . its current estimates are between $ 160 million and $ 220 million , consisting mostly of continued investments in the company 's breweries , as well additional keg purchases in support of growth . these estimates include capital investments for existing alchemy & science projects of between $ 7 million and $ 9 million . the actual total amount spent on 2014 capital expenditures may well be different from these estimates . based on information currently available , the company believes that its capacity requirements for 2014 can be covered by its company-owned breweries and existing contracted capacity at third-party brewers . results of operations boston beer 's flagship product is samuel adams boston lager . for purposes of this discussion , boston beer 's core brands or core products include all products sold under the samuel adams , twisted tea , angry orchard and various alchemy & science trade names . core products do not include the products brewed or packaged at the company 's brewery in cincinnati , ohio ( the cincinnati brewery ) under a contract arrangement for a third party . sales of such products are not significant to the company 's net revenues . 22 the following table sets forth certain items included in the company 's consolidated statements of income as a percentage of net revenue : replace_table_token_5_th year ended december 28 , 2013 ( 52 weeks ) compared to year ended december 29 , 2012 ( 52 weeks ) fiscal periods . the 2013 and 2012 fiscal years consisted of 52 weeks as compared to 53 weeks in fiscal 2011. net revenue . net revenue increased by $ 158.9 million , or 27.4 % , to $ 739.1 million for the year ended december 28 , 2013 , as compared to $ 580.2 million for the year ended december 29 , 2012 , due primarily to increased shipments . volume . total shipment volume of 3,416,000 barrels for the year ended december 28 , 2013 includes shipments of core brands of 3,403,000 barrels and other shipments of 13,000 barrels . shipment volume for core brands increased by 24.8 % over comparable 2012 levels to 3,403,000 barrels , due primarily to increases in shipments of angry orchard , samuel adams and twisted tea brand products . depletions , or sales by distributors to retailers , of the company 's core products for the year ended december 28 , 2013 increased by approximately 23 % compared to the prior year , primarily due to increases in depletions of angry orchard , twisted tea and samuel adams brand products . net revenue per barrel . the net revenue per barrel for core brands increased by 2.2 % to $ 216.94 per barrel for the year ended december 28 , 2013 , as compared to $ 212.37 per barrel for the comparable period in 2012 , due primarily to price increases and changes in product and package mix , partially offset by $ 7.0 million of increased customer programs and incentive costs . significant changes in the package mix could have a material effect on net revenue . the company primarily packages its core brands in kegs , bottles and cans . assuming the same level of production , a shift in the mix from 23 bottles and cans to kegs would effectively decrease revenue per barrel , as the price per equivalent barrel is lower for kegs than for bottles and cans . the percentage of bottles and cans to total shipments increased by 2.4 % to 75.9 % of total shipments for the year ended december 28 , 2013 as compared to 2012. gross profit . gross profit for core products was $ 113.03 per barrel for the year ended december 28 , 2013 , as compared to $ 115.50 per barrel for the year ended december 29 , 2012. gross margin for core products was 52.1 % for the year ended december 28 , 2013 , as compared to 54.4 % for the year ended december 29 , 2012. the decrease in gross profit per barrel of $ 2.47 is primarily due to an increase in cost of goods sold per barrel , partially offset by an increase in net revenue per barrel . cost of goods sold for core brands was $ 103.91 per barrel for the year ended december 28 , 2013 , as compared to $ 96.87 per barrel for the year ended december 29 , 2012. the 2013 increase in cost of goods sold of $ 7.04 per barrel of core product is due to increased ingredients costs , product mix effects and inefficiencies in the company 's operations resulting from the higher than expected growth . story_separator_special_tag periodically , the company grants performance-based stock options , related to which it only recognizes compensation expense if it is probable that performance targets will be met . consequently , at the end of each reporting period , the company estimates whether it is probable that performance targets will be met . changes in the subjective assumptions and estimates can materially affect the amount of stock-based compensation expense recognized in the consolidated statements of income . income taxes income tax expense was $ 42.1 million , $ 36.0 million and $ 37.4 million in fiscal years 2013 , 2012 , and 2011 , respectively . the company provides for deferred taxes using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the company 's consolidated financial statements or tax returns . this results in differences between the book and tax basis of the company 's assets , liabilities and carry-forwards such as tax credits . in estimating future tax consequences , all expected future events , other than enactment of changes in the tax laws or rates , are generally considered . valuation allowances are provided to the extent deemed necessary when realization of deferred tax assets appears unlikely . 29 the calculation of the company 's tax liabilities involves dealing with uncertainties in the application of complex tax regulations in several different state tax jurisdictions . the company is periodically reviewed by tax authorities regarding the amount of taxes due . these reviews include inquiries regarding the timing and amount of deductions and the allocation of income among various tax jurisdictions . the company records estimated reserves for exposures associated with positions that it takes on its income tax returns . historically , the valuation allowances and reserves for uncertain tax positions have been adequate to cover the related tax exposures . business environment the alcoholic beverage industry is highly regulated at the federal , state and local levels . the ttb and the justice department 's bureau of alcohol , tobacco , firearms and explosives enforce laws under the federal alcohol administration act . the ttb is responsible for administering and enforcing excise tax laws that directly affect the company 's results of operations . state and regulatory authorities have the ability to suspend or revoke the company 's licenses and permits or impose substantial fines for violations . the company has established strict policies , procedures and guidelines in efforts to ensure compliance with all applicable state and federal laws . however , the loss or revocation of any existing license or permit could have a material adverse effect on the company 's business , results of operations , cash flows and financial position . the better beer category is highly competitive due to the large number of regional craft and specialty brewers and the brewers of imported beers who distribute similar products that have similar pricing and target drinkers . the company believes that its pricing is appropriate given the quality and reputation of its core brands , while realizing that economic pricing pressures may affect future pricing levels . certain major domestic brewers have also developed brands to compete within the better beer , fmb and cider categories and have acquired interests in craft beers and cider makers , or importation rights to foreign brands . import brewers and major domestic brewers are able to compete more aggressively than the company , as they have substantially greater resources , marketing strength and distribution networks than the company . the company anticipates craft beer competition increasing as craft brewers have benefited from nine years of healthy growth and are looking to maintain these trends . the company also increasingly competes with wine and spirits companies , some of which have significantly greater resources than the company . this competitive environment may affect the company 's overall performance within the better beer category . as the market matures and the better beer category continues to consolidate , the company believes that companies that are well-positioned in terms of brand equity , marketing and distribution will have greater success than those who do not . with approximately 350 distributors nationwide and the company 's sales force of approximately 380 people , a commitment to maintaining brand equity and the quality of its beer , the company believes it is well positioned to compete in the better beer market . the demand for the company 's products is also subject to changes in drinkers ' tastes . the potential impact of known facts , commitments , events and uncertainties hops purchase commitments the company utilizes several varieties of hops in the production of its products . to ensure adequate supplies of these varieties , the company enters into advance multi-year purchase commitments based on forecasted future hop requirements , among other factors . during 2013 , the company entered into several hops future contracts in the normal course of business . the total value of the contracts entered into as of december 28 , 2013 , which are denominated in euros , british pounds sterling and u.s. dollars , was $ 33.6 million . the company has no forward exchange contracts in place as of december 28 , 2013 and currently intends to purchase future hops using the exchange rate at the time of purchase . these contracts were deemed necessary in order to bring hop inventory levels and purchase commitments into balance with the company 's current brewing volume and hop usage forecasts . in addition , these contracts enable the company to secure its position for future supply with hop vendors in the face of some competitive buying activity . 30 the company 's accounting policy for hop inventory and purchase commitments is to recognize a loss by establishing a reserve for aged hops and to the extent inventory levels and commitments exceed forecasted needs . the computation

liquidity and capital resources cash decreased to $ 49.5 million as of december 28 , 2013 from $ 74.5 million as of december 29 , 2012 , reflecting purchases of property , plant and equipment and repurchases of class a common stock that were only partially offset by cash provided by operating activities . cash provided by or used in operating activities consists of net income , adjusted for certain non-cash items , such as depreciation and amortization , stock-based compensation expense and related excess tax benefit , other non-cash items included in operating results , and changes in operating assets and liabilities , such as accounts receivable , inventory , accounts payable and accrued expenses . cash provided by operating activities in 2013 was $ 100.0 million and primarily consisted of net income of $ 70.4 million and non-cash items of $ 41.6 million , partially offset by a net increase in operating assets and liabilities of $ 12.0 million . the company 's inventories have increased at a rate higher than revenue growth primarily due to increases in finished goods and raw materials . the company 's accounts receivable have increased at a rate higher than its net revenue growth primarily due to increased international accounts receivable . cash provided by operating activities in 2012 totaled $ 95.3 million and primarily consisted of net income of $ 59.5 million , and non-cash items of $ 21.2 million , and a net decrease in operating assets and liabilities of $ 14.7 million . the company used $ 103.3 million in investing activities during 2013 , as compared to $ 67.3 million during 2012. investing activities primarily consisted of discretionary equipment purchases to increase capacity of the company-owned breweries and the purchase of additional kegs . 26 cash used in financing activities was $ 21.6 million during 2013 , as compared to $ 3.0 million during 2012. the $ 18.6 million difference in financing cash flow in 2013 from 2012 is primarily due an increase in stock repurchases under the company 's stock repurchase program and a decrease in proceeds from the exercise of stock options and the related tax benefits .


 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 cash decreased to $ 49.5 million as of december 28 , 2013 from $ 74.5 million as of december 29 , 2012 , reflecting purchases of property , plant and equipment and repurchases of class a common stock that were only partially offset by cash provided by operating activities . cash provided by or used in operating activities consists of net income , adjusted for certain non-cash items , such as depreciation and amortization , stock-based compensation expense and related excess tax benefit , other non-cash items included in operating results , and changes in operating assets and liabilities , such as accounts receivable , inventory , accounts payable and accrued expenses . cash provided by operating activities in 2013 was $ 100.0 million and primarily consisted of net income of $ 70.4 million and non-cash items of $ 41.6 million , partially offset by a net increase in operating assets and liabilities of $ 12.0 million . the company 's inventories have increased at a rate higher than revenue growth primarily due to increases in finished goods and raw materials . the company 's accounts receivable have increased at a rate higher than its net revenue growth primarily due to increased international accounts receivable . cash provided by operating activities in 2012 totaled $ 95.3 million and primarily consisted of net income of $ 59.5 million , and non-cash items of $ 21.2 million , and a net decrease in operating assets and liabilities of $ 14.7 million . the company used $ 103.3 million in investing activities during 2013 , as compared to $ 67.3 million during 2012. investing activities primarily consisted of discretionary equipment purchases to increase capacity of the company-owned breweries and the purchase of additional kegs . 26 cash used in financing activities was $ 21.6 million during 2013 , as compared to $ 3.0 million during 2012. the $ 18.6 million difference in financing cash flow in 2013 from 2012 is primarily due an increase in stock repurchases under the company 's stock repurchase program and a decrease in proceeds from the exercise of stock options and the related tax benefits .
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 Suspicious Activity Report : the company is targeting national price increases of approximately 2 % to offset anticipated upward pressures on ingredients , packaging and freight costs , as well as increased investments behind the company 's brands . full-year 2014 gross margins are currently expected to be between 51 % and 53 % . the company intends to increase advertising , promotional and selling expenses by between $ 34 million and $ 42 million for the full year 2014 , which does not include any increases in freight costs for the shipment of products to its distributors . the company estimates increased investments of between $ 5 million and $ 7 million in existing brands developed by alchemy & science , which are included in our full year estimated increases in advertising , promotional and selling expenses . brand investments in the alchemy & science brands could vary significantly from current estimates . the company intends to increase its investment in its brands in 2014 commensurate with the opportunities for growth that it sees , but there is no guarantee that such increased investments will result in increased volumes . the company estimates a full-year 2014 effective tax rate of approximately 38 % . the company is continuing to evaluate 2014 capital expenditures . its current estimates are between $ 160 million and $ 220 million , consisting mostly of continued investments in the company 's breweries , as well additional keg purchases in support of growth . these estimates include capital investments for existing alchemy & science projects of between $ 7 million and $ 9 million . the actual total amount spent on 2014 capital expenditures may well be different from these estimates . based on information currently available , the company believes that its capacity requirements for 2014 can be covered by its company-owned breweries and existing contracted capacity at third-party brewers . results of operations boston beer 's flagship product is samuel adams boston lager . for purposes of this discussion , boston beer 's core brands or core products include all products sold under the samuel adams , twisted tea , angry orchard and various alchemy & science trade names . core products do not include the products brewed or packaged at the company 's brewery in cincinnati , ohio ( the cincinnati brewery ) under a contract arrangement for a third party . sales of such products are not significant to the company 's net revenues . 22 the following table sets forth certain items included in the company 's consolidated statements of income as a percentage of net revenue : replace_table_token_5_th year ended december 28 , 2013 ( 52 weeks ) compared to year ended december 29 , 2012 ( 52 weeks ) fiscal periods . the 2013 and 2012 fiscal years consisted of 52 weeks as compared to 53 weeks in fiscal 2011. net revenue . net revenue increased by $ 158.9 million , or 27.4 % , to $ 739.1 million for the year ended december 28 , 2013 , as compared to $ 580.2 million for the year ended december 29 , 2012 , due primarily to increased shipments . volume . total shipment volume of 3,416,000 barrels for the year ended december 28 , 2013 includes shipments of core brands of 3,403,000 barrels and other shipments of 13,000 barrels . shipment volume for core brands increased by 24.8 % over comparable 2012 levels to 3,403,000 barrels , due primarily to increases in shipments of angry orchard , samuel adams and twisted tea brand products . depletions , or sales by distributors to retailers , of the company 's core products for the year ended december 28 , 2013 increased by approximately 23 % compared to the prior year , primarily due to increases in depletions of angry orchard , twisted tea and samuel adams brand products . net revenue per barrel . the net revenue per barrel for core brands increased by 2.2 % to $ 216.94 per barrel for the year ended december 28 , 2013 , as compared to $ 212.37 per barrel for the comparable period in 2012 , due primarily to price increases and changes in product and package mix , partially offset by $ 7.0 million of increased customer programs and incentive costs . significant changes in the package mix could have a material effect on net revenue . the company primarily packages its core brands in kegs , bottles and cans . assuming the same level of production , a shift in the mix from 23 bottles and cans to kegs would effectively decrease revenue per barrel , as the price per equivalent barrel is lower for kegs than for bottles and cans . the percentage of bottles and cans to total shipments increased by 2.4 % to 75.9 % of total shipments for the year ended december 28 , 2013 as compared to 2012. gross profit . gross profit for core products was $ 113.03 per barrel for the year ended december 28 , 2013 , as compared to $ 115.50 per barrel for the year ended december 29 , 2012. gross margin for core products was 52.1 % for the year ended december 28 , 2013 , as compared to 54.4 % for the year ended december 29 , 2012. the decrease in gross profit per barrel of $ 2.47 is primarily due to an increase in cost of goods sold per barrel , partially offset by an increase in net revenue per barrel . cost of goods sold for core brands was $ 103.91 per barrel for the year ended december 28 , 2013 , as compared to $ 96.87 per barrel for the year ended december 29 , 2012. the 2013 increase in cost of goods sold of $ 7.04 per barrel of core product is due to increased ingredients costs , product mix effects and inefficiencies in the company 's operations resulting from the higher than expected growth . story_separator_special_tag periodically , the company grants performance-based stock options , related to which it only recognizes compensation expense if it is probable that performance targets will be met . consequently , at the end of each reporting period , the company estimates whether it is probable that performance targets will be met . changes in the subjective assumptions and estimates can materially affect the amount of stock-based compensation expense recognized in the consolidated statements of income . income taxes income tax expense was $ 42.1 million , $ 36.0 million and $ 37.4 million in fiscal years 2013 , 2012 , and 2011 , respectively . the company provides for deferred taxes using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the company 's consolidated financial statements or tax returns . this results in differences between the book and tax basis of the company 's assets , liabilities and carry-forwards such as tax credits . in estimating future tax consequences , all expected future events , other than enactment of changes in the tax laws or rates , are generally considered . valuation allowances are provided to the extent deemed necessary when realization of deferred tax assets appears unlikely . 29 the calculation of the company 's tax liabilities involves dealing with uncertainties in the application of complex tax regulations in several different state tax jurisdictions . the company is periodically reviewed by tax authorities regarding the amount of taxes due . these reviews include inquiries regarding the timing and amount of deductions and the allocation of income among various tax jurisdictions . the company records estimated reserves for exposures associated with positions that it takes on its income tax returns . historically , the valuation allowances and reserves for uncertain tax positions have been adequate to cover the related tax exposures . business environment the alcoholic beverage industry is highly regulated at the federal , state and local levels . the ttb and the justice department 's bureau of alcohol , tobacco , firearms and explosives enforce laws under the federal alcohol administration act . the ttb is responsible for administering and enforcing excise tax laws that directly affect the company 's results of operations . state and regulatory authorities have the ability to suspend or revoke the company 's licenses and permits or impose substantial fines for violations . the company has established strict policies , procedures and guidelines in efforts to ensure compliance with all applicable state and federal laws . however , the loss or revocation of any existing license or permit could have a material adverse effect on the company 's business , results of operations , cash flows and financial position . the better beer category is highly competitive due to the large number of regional craft and specialty brewers and the brewers of imported beers who distribute similar products that have similar pricing and target drinkers . the company believes that its pricing is appropriate given the quality and reputation of its core brands , while realizing that economic pricing pressures may affect future pricing levels . certain major domestic brewers have also developed brands to compete within the better beer , fmb and cider categories and have acquired interests in craft beers and cider makers , or importation rights to foreign brands . import brewers and major domestic brewers are able to compete more aggressively than the company , as they have substantially greater resources , marketing strength and distribution networks than the company . the company anticipates craft beer competition increasing as craft brewers have benefited from nine years of healthy growth and are looking to maintain these trends . the company also increasingly competes with wine and spirits companies , some of which have significantly greater resources than the company . this competitive environment may affect the company 's overall performance within the better beer category . as the market matures and the better beer category continues to consolidate , the company believes that companies that are well-positioned in terms of brand equity , marketing and distribution will have greater success than those who do not . with approximately 350 distributors nationwide and the company 's sales force of approximately 380 people , a commitment to maintaining brand equity and the quality of its beer , the company believes it is well positioned to compete in the better beer market . the demand for the company 's products is also subject to changes in drinkers ' tastes . the potential impact of known facts , commitments , events and uncertainties hops purchase commitments the company utilizes several varieties of hops in the production of its products . to ensure adequate supplies of these varieties , the company enters into advance multi-year purchase commitments based on forecasted future hop requirements , among other factors . during 2013 , the company entered into several hops future contracts in the normal course of business . the total value of the contracts entered into as of december 28 , 2013 , which are denominated in euros , british pounds sterling and u.s. dollars , was $ 33.6 million . the company has no forward exchange contracts in place as of december 28 , 2013 and currently intends to purchase future hops using the exchange rate at the time of purchase . these contracts were deemed necessary in order to bring hop inventory levels and purchase commitments into balance with the company 's current brewing volume and hop usage forecasts . in addition , these contracts enable the company to secure its position for future supply with hop vendors in the face of some competitive buying activity . 30 the company 's accounting policy for hop inventory and purchase commitments is to recognize a loss by establishing a reserve for aged hops and to the extent inventory levels and commitments exceed forecasted needs . the computation

