included in the purchase price was approximately $ 0.4 million of additional consideration estimated to be paid to the former owners of tsd based on a percentage of revenues generated through december 31 , 2011. tsd operates as part of louisiana transportation , inc. in march 2011 , we acquired certain assets of hart transportation , inc. , or hart , based in jacksonville , florida for approximately $ 1.4 million . hart is primarily a regional provider of van and flatbed services throughout the southeastern united states . included in the purchase price is approximately $ 0.4 million of additional consideration estimated to be paid to the former owner of hart based on a percentage of revenues generated through march 31 , 2014. hart operates as part of universal am-can , ltd. factors affecting our revenues operating revenues . we generate substantially all of our revenues through fees charged to customers for the transportation of freight and for the customized logistics services we provide . we also derive revenue from fuel surcharges , where separately identifiable , loading and unloading activities , equipment detention , container management and storage and other related services . our agreements with customers typically follow one of two patterns : transactional or contractual . transactional agreements are associated with individual freight shipments coordinated by our agents , company-managed terminals and specialized services operations . generally , we are paid by the mile for our transportation and intermodal drayage services . contractual agreements are for the delivery of value-added services or transportation services that are on an exclusive basis . the pricing structure of value-added services contracts , which often are three to five years in duration , compensate for the physical resources and labor that support material handling , sequencing , sub-assembly and various other value-added processes , including both variable-cost and fixed-price components . transportation services which are contractual typically have a term of one year . fees charged to customers by our full service international freight forwarding and customs house brokerage are based on the specific means of forwarding or delivering freight on a shipment-by-shipment basis . our transportation revenues are primarily influenced by fluctuations in freight volumes and shipping rates . the main factors that affect these are competition , available truck capacity , and economic market conditions . our value-added contract business is substantially driven by the level of demand for outsourced logistics services . major factors that affect our revenues include changes in manufacturing supply chain requirements , production levels in specific industries , pricing trends due to levels of competition and resource costs in logistics and transportation , and economic market conditions . we recognize revenue on a gross basis at the time that persuasive evidence of an arrangement with our customer exists , sales price is fixed and determinable , and collectability is reasonably assured . our revenue is recognized at the time of delivery to the receiver 's location , or for service arrangements , after the related services have been rendered . factors affecting our expenses purchased transportation and equipment rent . purchased transportation and equipment rent represents the amounts we pay to our owner-operators or other third party equipment providers to haul freight and , to the extent required to deliver certain logistics services , the cost of equipment leased under short-term contracts from third parties . the amount of the purchased transportation we pay to our owner-operators is primarily based on a 38 contractually agreed-upon percentage of our revenue for each load hauled . the expense also includes the amount of fuel surcharges , where separately identifiable , that we receive from our customers and pass through to our owner-operators . our strategy is to maintain a highly flexible business model that employs a cost structure that is mostly variable in nature . as a result , purchased transportation and equipment rent is the largest component of our costs and increases or decreases proportionately with changes in the amount of revenue generated by our owner-operators and other third party providers and with the production volumes of our customers . we recognize purchased transportation and equipment rent as the services are provided . direct personnel and related benefits . direct personnel and related benefits include the salaries , wages and fringe benefits of our employees , as well as costs related to contract labor utilized in operating activities . these costs are a significant component of our cost structure and increase or decrease proportionately with the expansion , addition or closing of operating facilities . as of december 31 , 2012 , approximately 28.3 % of our employees were subject to collective bargaining agreements . any changes in union agreements will affect our personnel and related benefits cost . the operations in the united states and canada that are subject to collective bargaining agreements have separate , individualized agreements with several different unions that represent employees in these operations . while there are some facilities with multiple unions , each collective bargaining agreement with each union covers a single facility for that union . such agreements have expiration dates that are generally independent of other collective bargaining agreements and include economics and operating terms tailored to the specific operational requirements of a customer . our operation in mexico provides competitive compensation within the mexican statutory framework for managerial and supervisory personnel . commission expense . commission expense represents the amount we pay our agents for generating shipments on our behalf . the commissions we pay to our agents are generally established through informal oral agreements and are based on a percentage of revenue or gross profit generated by each load hauled . traditionally , commission expense increase or decrease in proportion to the revenues generated through our agents . we recognize commission expenses at the time we recognize the associated revenue . operating expense ( exclusive of items shown separately ) . story_separator_special_tag other non-operating income for 2012 was $ 2.8 million compared to $ 1.7 million for 2011. included in other non-operating income in 2012 were $ 2.2 million in pre-tax gains on the sales of marketable equity securities compared to $ 1.1 million in 2011. provision for income taxes . provision for income taxes for 2012 was $ 20.3 million compared to $ 14.2 million for 2011 , based on an effective tax rate of 29.8 % and 21.6 % , respectively . prior to the merger , linc elected to be treated as a subchapter s corporation for federal income tax purposes . as a result , the financial results related to linc for all of 2011 and for the first three quarters of 2012 incurred no federal income tax liabilities or in many jurisdictions , state or local tax liabilities . the increase in the effective rate is primarily due to increases of operating activities in foreign income tax jurisdictions and transaction costs of $ 8.3 million that resulted from the acquisition of linc . due to the nature of certain costs and expenses associated with the linc merger , approximately $ 6.8 million of the transaction costs are nondeductible for tax purposes . 2011 compared to 2010 operating revenues . operating revenues increased $ 138.8 million , or 16.3 % , to $ 990.7 million for 2011 from $ 851.9 million for 2010. this included increases of $ 93.6 million , $ 30.3 million , and $ 14.9 million in our transportation , value-added and intermodal services , respectively . included in operating revenues are fuel surcharges , where separately identifiable , of $ 110.6 million for 2011 compared to $ 67.4 million for 2010. the combination of higher fuel prices and increased volumes resulted in higher fuel surcharge revenue . the increase in revenues from our transportation and intermodal services was primarily due to increases in the number of loads hauled , fuel surcharges , where separately identifiable , and increases in our operating revenues per loaded mile . the number of loads from our combined transportation and intermodal operations grew to 994,000 for 2011 compared to 891,000 for 2010 , while our operating revenue per loaded mile , excluding fuel surcharges , increased to $ 2.36 from $ 2.21 for 2010. included in transportation revenue is also approximately $ 10.1 million of revenues 43 attributable to an acquisition made in the first quarter of 2011. we also experienced increasing demand for value-added services compared to 2010. we recognized incremental revenue totaling approximately $ 26.2 million from new programs launched for both existing and new customers . these new programs include a value-added services operation launched inside a general motors assembly plant , two consolidation centers launched for wal-mart stores in april 2011 , and additional services delivered to two other automotive oems , two of our industrial customers , and to a tier i automotive supplier in the united states and europe . in december 2011 , after lower-than-anticipated volume in the first six months of operation , we discontinued freight consolidation centers supporting the same tier i supplier 's european supply chain , which had accounted for $ 1.1 million of revenue from new programs in 2011 , $ 3.1 million in operating expenses ( including $ 0.1 million of depreciation and amortization ) , and $ 0.9 million in closing costs . purchased transportation and equipment rent . purchased transportation and equipment rental costs for 2011 increased by $ 83.7 million , or 16.8 % , to $ 582.0 million from $ 498.3 million for 2010. as a percentage of operating revenues , purchased transportation and equipment rent expense increased to 58.7 % for 2011 from 58.5 % for 2010. purchased transportation and equipment rent generally increases or decreases in proportion to the revenues generated through owner-operators and other third party providers and is generally correlated with changes in demand for transportation and intermodal services . the absolute increase was primarily due to the increase in these service categories . the increase in purchased transportation as a percent of operating revenues is primarily due to an increase in fuel surcharges , where separately identifiable , which are generally passed through to owner-operators . direct personnel and related benefits . direct personnel and related benefits expenses for 2011 increased $ 23.3 million , or 19.0 % , to $ 145.8 million , compared to $ 122.5 million for 2010. trends in these expenses are generally correlated with changes in operating facilities and headcount requirements and , therefore , increased with the level of demand for our value-added services and staffing needs of our operations . approximately $ 14.6 million of the $ 23.3 million increase is due to increased expenditures for contract labor or substantially similar contract services , primarily to support newer operations and customers . such costs increased to 28.1 % of total direct personnel and related benefits for 2011 , compared to 21.6 % of such costs in 2010. personnel and related benefits expense also includes approximately $ 0.2 million in contract labor and other labor-related charges incurred upon our decision to close our short-lived european operation . as a percentage of revenue , personnel and related benefits expenses increased slightly , to 14.7 % for 2011 , compared to 14.4 % for 2010. the percentage is derived on an aggregate basis from both existing and new programs , and from operating locations at various stages in their lifecycles . individual operations may be impacted by additional production shifts or by overtime at selected operations . while generalizations about the impact of personnel and related benefits costs as a percentage of total revenue are difficult , we manage compensation and staffing levels , including the use of contract labor , to maintain target economics based on near-term projections of demand for our services . commission expense . commission expense for 2011 increased by $ 3.1 million , or 7.8 % , to

liquidity and capital resources our primary sources of liquidity are funds generated by operations , our availability under our $ 110 million revolving credit and $ 60 million equipment credit facilities , our ability to borrow on margin against our marketable securities held at ubs , and proceeds from the sales of marketable securities . additionally , our revolving credit facility includes an accordion feature which would allow us to increase availability by up to $ 20 million upon our request and approval of the lenders . we employ an asset-light operating strategy which we believe lowers our capital expenditure requirements . in general , our facilities used in our value-added services are leased on terms that are either substantially matched to our customer 's contracts , are month-to-month or are provided to us by our customers . we also utilize owner-operators and third-party carriers to provide a significant portion of our transportation and specialized services . over 80 % of the tractors and 50 % of the trailers used in our business are provided by our owner-operators . in addition , our use of agents reduces our overall need for large terminals . as a result , our capital expenditure requirements are limited in comparison to most large transportation and logistics service providers , which maintain significant properties and sizable fleets of owned tractors and trailers . in 2012 , our capital expenditures totaled $ 29.6 million . these expenditures primarily consisted of transportation equipment and investments in support of new value-added service operations , including the expansion in the scope of services we provide in san luis potosí , mexico . our asset-light business model depends somewhat on the customized solutions we implement for specific customers . as a result , our capital expenditures will depend on specific new contracts and the overall age and condition of our owned transportation equipment .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our primary sources of liquidity are funds generated by operations , our availability under our $ 110 million revolving credit and $ 60 million equipment credit facilities , our ability to borrow on margin against our marketable securities held at ubs , and proceeds from the sales of marketable securities . additionally , our revolving credit facility includes an accordion feature which would allow us to increase availability by up to $ 20 million upon our request and approval of the lenders . we employ an asset-light operating strategy which we believe lowers our capital expenditure requirements . in general , our facilities used in our value-added services are leased on terms that are either substantially matched to our customer 's contracts , are month-to-month or are provided to us by our customers . we also utilize owner-operators and third-party carriers to provide a significant portion of our transportation and specialized services . over 80 % of the tractors and 50 % of the trailers used in our business are provided by our owner-operators . in addition , our use of agents reduces our overall need for large terminals . as a result , our capital expenditure requirements are limited in comparison to most large transportation and logistics service providers , which maintain significant properties and sizable fleets of owned tractors and trailers . in 2012 , our capital expenditures totaled $ 29.6 million . these expenditures primarily consisted of transportation equipment and investments in support of new value-added service operations , including the expansion in the scope of services we provide in san luis potosí , mexico . our asset-light business model depends somewhat on the customized solutions we implement for specific customers . as a result , our capital expenditures will depend on specific new contracts and the overall age and condition of our owned transportation equipment .
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 Suspicious Activity Report : included in the purchase price was approximately $ 0.4 million of additional consideration estimated to be paid to the former owners of tsd based on a percentage of revenues generated through december 31 , 2011. tsd operates as part of louisiana transportation , inc. in march 2011 , we acquired certain assets of hart transportation , inc. , or hart , based in jacksonville , florida for approximately $ 1.4 million . hart is primarily a regional provider of van and flatbed services throughout the southeastern united states . included in the purchase price is approximately $ 0.4 million of additional consideration estimated to be paid to the former owner of hart based on a percentage of revenues generated through march 31 , 2014. hart operates as part of universal am-can , ltd. factors affecting our revenues operating revenues . we generate substantially all of our revenues through fees charged to customers for the transportation of freight and for the customized logistics services we provide . we also derive revenue from fuel surcharges , where separately identifiable , loading and unloading activities , equipment detention , container management and storage and other related services . our agreements with customers typically follow one of two patterns : transactional or contractual . transactional agreements are associated with individual freight shipments coordinated by our agents , company-managed terminals and specialized services operations . generally , we are paid by the mile for our transportation and intermodal drayage services . contractual agreements are for the delivery of value-added services or transportation services that are on an exclusive basis . the pricing structure of value-added services contracts , which often are three to five years in duration , compensate for the physical resources and labor that support material handling , sequencing , sub-assembly and various other value-added processes , including both variable-cost and fixed-price components . transportation services which are contractual typically have a term of one year . fees charged to customers by our full service international freight forwarding and customs house brokerage are based on the specific means of forwarding or delivering freight on a shipment-by-shipment basis . our transportation revenues are primarily influenced by fluctuations in freight volumes and shipping rates . the main factors that affect these are competition , available truck capacity , and economic market conditions . our value-added contract business is substantially driven by the level of demand for outsourced logistics services . major factors that affect our revenues include changes in manufacturing supply chain requirements , production levels in specific industries , pricing trends due to levels of competition and resource costs in logistics and transportation , and economic market conditions . we recognize revenue on a gross basis at the time that persuasive evidence of an arrangement with our customer exists , sales price is fixed and determinable , and collectability is reasonably assured . our revenue is recognized at the time of delivery to the receiver 's location , or for service arrangements , after the related services have been rendered . factors affecting our expenses purchased transportation and equipment rent . purchased transportation and equipment rent represents the amounts we pay to our owner-operators or other third party equipment providers to haul freight and , to the extent required to deliver certain logistics services , the cost of equipment leased under short-term contracts from third parties . the amount of the purchased transportation we pay to our owner-operators is primarily based on a 38 contractually agreed-upon percentage of our revenue for each load hauled . the expense also includes the amount of fuel surcharges , where separately identifiable , that we receive from our customers and pass through to our owner-operators . our strategy is to maintain a highly flexible business model that employs a cost structure that is mostly variable in nature . as a result , purchased transportation and equipment rent is the largest component of our costs and increases or decreases proportionately with changes in the amount of revenue generated by our owner-operators and other third party providers and with the production volumes of our customers . we recognize purchased transportation and equipment rent as the services are provided . direct personnel and related benefits . direct personnel and related benefits include the salaries , wages and fringe benefits of our employees , as well as costs related to contract labor utilized in operating activities . these costs are a significant component of our cost structure and increase or decrease proportionately with the expansion , addition or closing of operating facilities . as of december 31 , 2012 , approximately 28.3 % of our employees were subject to collective bargaining agreements . any changes in union agreements will affect our personnel and related benefits cost . the operations in the united states and canada that are subject to collective bargaining agreements have separate , individualized agreements with several different unions that represent employees in these operations . while there are some facilities with multiple unions , each collective bargaining agreement with each union covers a single facility for that union . such agreements have expiration dates that are generally independent of other collective bargaining agreements and include economics and operating terms tailored to the specific operational requirements of a customer . our operation in mexico provides competitive compensation within the mexican statutory framework for managerial and supervisory personnel . commission expense . commission expense represents the amount we pay our agents for generating shipments on our behalf . the commissions we pay to our agents are generally established through informal oral agreements and are based on a percentage of revenue or gross profit generated by each load hauled . traditionally , commission expense increase or decrease in proportion to the revenues generated through our agents . we recognize commission expenses at the time we recognize the associated revenue . operating expense ( exclusive of items shown separately ) . story_separator_special_tag other non-operating income for 2012 was $ 2.8 million compared to $ 1.7 million for 2011. included in other non-operating income in 2012 were $ 2.2 million in pre-tax gains on the sales of marketable equity securities compared to $ 1.1 million in 2011. provision for income taxes . provision for income taxes for 2012 was $ 20.3 million compared to $ 14.2 million for 2011 , based on an effective tax rate of 29.8 % and 21.6 % , respectively . prior to the merger , linc elected to be treated as a subchapter s corporation for federal income tax purposes . as a result , the financial results related to linc for all of 2011 and for the first three quarters of 2012 incurred no federal income tax liabilities or in many jurisdictions , state or local tax liabilities . the increase in the effective rate is primarily due to increases of operating activities in foreign income tax jurisdictions and transaction costs of $ 8.3 million that resulted from the acquisition of linc . due to the nature of certain costs and expenses associated with the linc merger , approximately $ 6.8 million of the transaction costs are nondeductible for tax purposes . 2011 compared to 2010 operating revenues . operating revenues increased $ 138.8 million , or 16.3 % , to $ 990.7 million for 2011 from $ 851.9 million for 2010. this included increases of $ 93.6 million , $ 30.3 million , and $ 14.9 million in our transportation , value-added and intermodal services , respectively . included in operating revenues are fuel surcharges , where separately identifiable , of $ 110.6 million for 2011 compared to $ 67.4 million for 2010. the combination of higher fuel prices and increased volumes resulted in higher fuel surcharge revenue . the increase in revenues from our transportation and intermodal services was primarily due to increases in the number of loads hauled , fuel surcharges , where separately identifiable , and increases in our operating revenues per loaded mile . the number of loads from our combined transportation and intermodal operations grew to 994,000 for 2011 compared to 891,000 for 2010 , while our operating revenue per loaded mile , excluding fuel surcharges , increased to $ 2.36 from $ 2.21 for 2010. included in transportation revenue is also approximately $ 10.1 million of revenues 43 attributable to an acquisition made in the first quarter of 2011. we also experienced increasing demand for value-added services compared to 2010. we recognized incremental revenue totaling approximately $ 26.2 million from new programs launched for both existing and new customers . these new programs include a value-added services operation launched inside a general motors assembly plant , two consolidation centers launched for wal-mart stores in april 2011 , and additional services delivered to two other automotive oems , two of our industrial customers , and to a tier i automotive supplier in the united states and europe . in december 2011 , after lower-than-anticipated volume in the first six months of operation , we discontinued freight consolidation centers supporting the same tier i supplier 's european supply chain , which had accounted for $ 1.1 million of revenue from new programs in 2011 , $ 3.1 million in operating expenses ( including $ 0.1 million of depreciation and amortization ) , and $ 0.9 million in closing costs . purchased transportation and equipment rent . purchased transportation and equipment rental costs for 2011 increased by $ 83.7 million , or 16.8 % , to $ 582.0 million from $ 498.3 million for 2010. as a percentage of operating revenues , purchased transportation and equipment rent expense increased to 58.7 % for 2011 from 58.5 % for 2010. purchased transportation and equipment rent generally increases or decreases in proportion to the revenues generated through owner-operators and other third party providers and is generally correlated with changes in demand for transportation and intermodal services . the absolute increase was primarily due to the increase in these service categories . the increase in purchased transportation as a percent of operating revenues is primarily due to an increase in fuel surcharges , where separately identifiable , which are generally passed through to owner-operators . direct personnel and related benefits . direct personnel and related benefits expenses for 2011 increased $ 23.3 million , or 19.0 % , to $ 145.8 million , compared to $ 122.5 million for 2010. trends in these expenses are generally correlated with changes in operating facilities and headcount requirements and , therefore , increased with the level of demand for our value-added services and staffing needs of our operations . approximately $ 14.6 million of the $ 23.3 million increase is due to increased expenditures for contract labor or substantially similar contract services , primarily to support newer operations and customers . such costs increased to 28.1 % of total direct personnel and related benefits for 2011 , compared to 21.6 % of such costs in 2010. personnel and related benefits expense also includes approximately $ 0.2 million in contract labor and other labor-related charges incurred upon our decision to close our short-lived european operation . as a percentage of revenue , personnel and related benefits expenses increased slightly , to 14.7 % for 2011 , compared to 14.4 % for 2010. the percentage is derived on an aggregate basis from both existing and new programs , and from operating locations at various stages in their lifecycles . individual operations may be impacted by additional production shifts or by overtime at selected operations . while generalizations about the impact of personnel and related benefits costs as a percentage of total revenue are difficult , we manage compensation and staffing levels , including the use of contract labor , to maintain target economics based on near-term projections of demand for our services . commission expense . commission expense for 2011 increased by $ 3.1 million , or 7.8 % , to

