our deep water port facilities on both the east and west coasts of the u.s. ( in everett , massachusetts ; providence , rhode island ; oakland , california ; portland , oregon ; and tacoma , washington ) and access to public deep water port facilities ( in kapolei , hawaii ; and salinas , puerto rico ) allow us to efficiently meet the global demand for recycled ferrous metal by shipping bulk cargoes to steel manufacturers located in asia , europe , africa , the middle east ( “ eame ” ) , and central america . our exports of nonferrous recycled metal are shipped in containers through various public docks to specialty steelmakers , foundries , aluminum sheet and ingot manufacturers , copper refineries and smelters , brass and bronze ingot manufacturers and wire and cable producers globally . we also transport both ferrous and nonferrous metals by truck , rail and barge in order to transfer scrap metal between our facilities for further processing , to load shipments at our export facilities and to meet regional domestic demand . key economic factors and trends affecting the industries in which we operate we sell recycled metals to the global steel industry for the production of finished steel . our financial results largely depend on supply of raw materials in the u.s. and western canada and demand for recycled metal in foreign and domestic markets and for finished steel products in the western u.s. and canada . changes in supply and demand conditions affect market prices for and volumes of recycled ferrous and nonferrous metal in global markets and for steel products in the western u.s. and canada and can have a significant impact on the results of operations for all three reporting segments . weak export demand and limited availability of raw materials has contributed to lower sales volumes for recycled metals in recent years . beginning in early fiscal 2012 , our markets were impacted by a slowdown of economic activity globally . macroeconomic uncertainty resulted in deteriorating market conditions for global steel manufacturers and volatile pricing swings with an overall downward trend in commodity prices and export selling prices of recycled materials . the persistently low economic growth in the u.s. contributed to constrained scrap flows in our mrb and apb domestic supply markets which , combined with increased 24 / schnitzer steel industries , inc. form 10-k 2014 schnitzer steel industries , inc. scrap recycling capacity and competition in certain regional markets , led to margin compression . in addition , a relatively stronger u.s. dollar value increased competitive pressure on mrb 's export activity . strategic factors as we continue to closely monitor economic conditions , we remain focused on the following core strategies to meet our business objectives : use of our seven deep water ports and ground-based transportation to directly access customers around the world and to meet demand wherever it is greatest ; synergistic growth and continuous productivity improvement and cost reduction initiatives which further integrate our operations and drive significant cost savings and efficiencies ; growth through acquisitions and greenfield development in existing and new geographic regions that generate attractive returns ; and continued investment in and benefit from technologies and process improvements which increase the separation and recovery of recycled materials from our shredding process . our strategy is focused on enhancing the inherent synergies within our integrated operations while continuing to improve productivity and grow our operations in core regions where we have a significant market presence and competitively advantageous port access . apb is a key supplier to mrb , and we opportunistically look to enhance the geographic proximity of operations within the two businesses . mrb and apb historically have had an integrated presence in the northwestern u.s. and in northern california , near mrb 's export facilities in tacoma , washington , portland , oregon and oakland , california , which benefit from the synergies of this enhanced access to supply . in early fiscal 2014 , we completed multi-year strategic investments in western canada , which enabled mrb and apb 's synergistic expansion into british columbia and alberta with seven metals collection and processing facilities , including a new shredder , as well as eight auto parts stores . apb 's facilities in western canada provide crushed autobodies to mrb 's new franchise in western canada in addition to shipping to its tacoma , washington facility . in fiscal 2014 , we opened our first greenfield auto parts store in johnston , rhode island , which , combined with three stores in massachusetts and rhode island acquired in fiscal 2013 , expands apb 's presence in the northeastern u.s. and enables a new source of supply for mrb 's northeastern regional operations which include 13 metals recycling and processing facilities . during fiscal 2014 we continued to implement enhancements to the synergies between these businesses by integrating certain operational processes . executive overview of financial results we generated consolidated revenues of $ 2.5 billion in fiscal 2014 , a decrease of 3 % from the $ 2.6 billion of consolidated revenues in the prior year . overall consolidated revenues decreased primarily due to lower average net selling prices for ferrous and nonferrous metal and reduced sales volumes of export ferrous metal as a result of continued weak economic conditions globally that adversely impacted export demand for recycled metal , which was only partially offset by higher volumes for domestic sales of recycled ferrous metal , nonferrous metal , and finished steel products . story_separator_special_tag fiscal 2013 also included $ 5 million of operating losses at apb , including transaction , integration and startup costs , related to the eleven store locations acquired or opened during fiscal 2013. these decreases were offset by an increase in operating income at smb of $ 9 million compared to fiscal 2012 primarily as a result of slightly improved demand leading to higher sales volumes and increased utilization levels . operating results in fiscal 2013 benefited from a reduction in sg & a expense of $ 12 million , or 6 % , from fiscal 2012 , primarily as a result of the restructuring initiatives and other operating efficiencies announced in the fourth quarter of fiscal 2012 and implemented in fiscal 2013. the decrease compared to fiscal 2012 was driven primarily by a reduction of $ 5 million in employee compensation expense and $ 4 million in professional and outside services . the reduction in consolidated sg & a expense was achieved despite the incremental expense attributable to the eleven store locations acquired or opened by apb during fiscal 2013. in the fourth quarter of fiscal 2013 , we identified the combination of the continued challenging market conditions , the constrained supply of raw materials , our recent financial performance and the lack of recovery of our market capitalization as a triggering event requiring an interim impairment test of goodwill allocated to our reporting units . for the apb reporting unit , the calculated fair value using the income approach substantially exceeded its carrying value . for the mrb reporting unit , the first step of the impairment test showed that the reporting unit 's fair value was less than its carrying amount , indicating a potential impairment . based on the second step of the impairment test , we recorded a non-cash goodwill impairment charge of $ 321 million at mrb . see critical accounting policies and estimates in part ii , item 7 of this report . during the fourth quarter of fiscal 2013 , we also recorded impairment charges of $ 13 million on various other assets at mrb , including the impairment of a contractual receivable of $ 8 million as a result of the debtor 's inability to repay the amount owed under agreements entered into for the extraction of scrap metal through demolition activities . we also identified impairments of $ 5 million on a combination of assets held for sale , a joint venture investment and other long-lived assets . interest expense interest expense was $ 11 million , $ 10 million and $ 12 million for fiscal 2014 , 2013 and 2012 , respectively . the decrease from fiscal 2012 to fiscal 2013 was primarily due to decreased average borrowings and lower average interest rates under our bank credit facilities compared to the prior year period . for more information about our outstanding debt balances , see note 9 – long-term debt in the notes to the consolidated financial statements in part ii , item 8 of this report . income tax expense ( benefit ) income tax expense ( benefit ) was $ 2 million , $ ( 57 ) million and $ 14 million for fiscal 2014 , 2013 and 2012 , respectively . our effective tax rate in fiscal 2014 was an expense of 19 % and was lower than the u.s. federal statutory rate of 35 % . the effective tax rate benefited from a fixed asset tax basis study performed during fiscal 2014 which resulted in the recognition of a tax benefit of $ 2 million , as well as the aggregate impact of excluding income associated with noncontrolling interests , foreign income taxed at different rates , and certain deductions and credits . other significant items impacting the effective tax rate included the recognition of a valuation allowance against certain foreign and state deferred tax assets and the recognition of a liability for unrecognized tax benefits of $ 2 million . the valuation allowance on deferred tax assets of certain foreign and state tax jurisdictions increased by $ 2 million compared to the prior year and was recognized as a result of negative evidence , including recent losses in certain foreign and state jurisdictions , outweighing the more subjective positive evidence , indicating that it is more likely than not that the associated tax benefit will not be realized . realization of the foreign subsidiaries ' deferred tax assets is dependent upon generating sufficient taxable income in the foreign tax jurisdiction in future years to benefit from the reversal of net deductible temporary differences and from the utilization of net operating losses . our effective tax rate for fiscal 2013 was a benefit of 17 % and differed from the u.s. federal statutory rate of 35 % primarily due to the recognition of an expense of $ 29 million to record a valuation allowance on deferred tax assets mainly related to a foreign subsidiary , the impact of the non-deductible portion of the goodwill impairment charge and the impact of the foreign tax rate differential on operating losses recorded by our foreign subsidiaries . the deferred tax assets at the foreign subsidiary for which a valuation allowance was recorded were related primarily to deductible temporary differences created in fiscal 2013 by the goodwill impairment charge and by net operating losses at the subsidiary . 30 / schnitzer steel industries , inc. form 10-k 2014 schnitzer steel industries , inc. in fiscal 2012 the effective tax rate was an expense of 33 % and differed from the u.s. federal statutory rate of 35 % primarily due to state tax benefits and research and development credits , partially offset by the adverse impact of foreign subsidiaries ' results taxed at different tax rates . we will continue to regularly assess the realizability of deferred tax assets . changes in historical earnings performance and future earnings projections , among other factors , may cause us to adjust our

sources and uses of cash we had cash balances of $ 26 million and $ 13 million as of august 31 , 2014 and 2013 , respectively . cash balances are intended to be used primarily for working capital , capital expenditures , acquisitions , dividends and share repurchases . we also use excess cash on hand to reduce amounts outstanding under our credit facilities . as of august 31 , 2014 , debt , net of cash , was $ 294 million compared to $ 368 million as of august 31 , 2013 ( refer to non-gaap financial measures below ) , a decrease of $ 75 million primarily as a result of the positive cash flows generated by operating activities . our cash balances as of august 31 , 2014 and 2013 include $ 4 million and $ 7 million , respectively , which are indefinitely reinvested in puerto rico and canada . operating activities net cash provided by operating activities in fiscal 2014 was $ 141 million , compared to $ 39 million in fiscal 2013 and $ 245 million in fiscal 2012 . cash provided by operating activities in fiscal 2014 included a decrease in inventories of $ 36 million due to the timing of shipments . uses of cash included an increase of $ 16 million in accounts receivable due to the timing of shipments and collections . cash provided by operating activities in fiscal 2013 included a decrease in inventories of $ 47 million due to lower volumes of material purchases . uses of cash included an increase of $ 79 million in accounts receivable due to the timing of shipments and collections and a decrease in accounts payable of $ 11 million due to lower levels of material purchases and timing of payments . cash provided by operating activities in fiscal 2012 included a decrease in inventories of $ 94 million due to lower volumes of material purchases and a decrease of $ 82 million in accounts receivable due to lower sales volumes and the timing of collections .


 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.
     ```sources and uses of cash we had cash balances of $ 26 million and $ 13 million as of august 31 , 2014 and 2013 , respectively . cash balances are intended to be used primarily for working capital , capital expenditures , acquisitions , dividends and share repurchases . we also use excess cash on hand to reduce amounts outstanding under our credit facilities . as of august 31 , 2014 , debt , net of cash , was $ 294 million compared to $ 368 million as of august 31 , 2013 ( refer to non-gaap financial measures below ) , a decrease of $ 75 million primarily as a result of the positive cash flows generated by operating activities . our cash balances as of august 31 , 2014 and 2013 include $ 4 million and $ 7 million , respectively , which are indefinitely reinvested in puerto rico and canada . operating activities net cash provided by operating activities in fiscal 2014 was $ 141 million , compared to $ 39 million in fiscal 2013 and $ 245 million in fiscal 2012 . cash provided by operating activities in fiscal 2014 included a decrease in inventories of $ 36 million due to the timing of shipments . uses of cash included an increase of $ 16 million in accounts receivable due to the timing of shipments and collections . cash provided by operating activities in fiscal 2013 included a decrease in inventories of $ 47 million due to lower volumes of material purchases . uses of cash included an increase of $ 79 million in accounts receivable due to the timing of shipments and collections and a decrease in accounts payable of $ 11 million due to lower levels of material purchases and timing of payments . cash provided by operating activities in fiscal 2012 included a decrease in inventories of $ 94 million due to lower volumes of material purchases and a decrease of $ 82 million in accounts receivable due to lower sales volumes and the timing of collections .
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 Suspicious Activity Report : our deep water port facilities on both the east and west coasts of the u.s. ( in everett , massachusetts ; providence , rhode island ; oakland , california ; portland , oregon ; and tacoma , washington ) and access to public deep water port facilities ( in kapolei , hawaii ; and salinas , puerto rico ) allow us to efficiently meet the global demand for recycled ferrous metal by shipping bulk cargoes to steel manufacturers located in asia , europe , africa , the middle east ( “ eame ” ) , and central america . our exports of nonferrous recycled metal are shipped in containers through various public docks to specialty steelmakers , foundries , aluminum sheet and ingot manufacturers , copper refineries and smelters , brass and bronze ingot manufacturers and wire and cable producers globally . we also transport both ferrous and nonferrous metals by truck , rail and barge in order to transfer scrap metal between our facilities for further processing , to load shipments at our export facilities and to meet regional domestic demand . key economic factors and trends affecting the industries in which we operate we sell recycled metals to the global steel industry for the production of finished steel . our financial results largely depend on supply of raw materials in the u.s. and western canada and demand for recycled metal in foreign and domestic markets and for finished steel products in the western u.s. and canada . changes in supply and demand conditions affect market prices for and volumes of recycled ferrous and nonferrous metal in global markets and for steel products in the western u.s. and canada and can have a significant impact on the results of operations for all three reporting segments . weak export demand and limited availability of raw materials has contributed to lower sales volumes for recycled metals in recent years . beginning in early fiscal 2012 , our markets were impacted by a slowdown of economic activity globally . macroeconomic uncertainty resulted in deteriorating market conditions for global steel manufacturers and volatile pricing swings with an overall downward trend in commodity prices and export selling prices of recycled materials . the persistently low economic growth in the u.s. contributed to constrained scrap flows in our mrb and apb domestic supply markets which , combined with increased 24 / schnitzer steel industries , inc. form 10-k 2014 schnitzer steel industries , inc. scrap recycling capacity and competition in certain regional markets , led to margin compression . in addition , a relatively stronger u.s. dollar value increased competitive pressure on mrb 's export activity . strategic factors as we continue to closely monitor economic conditions , we remain focused on the following core strategies to meet our business objectives : use of our seven deep water ports and ground-based transportation to directly access customers around the world and to meet demand wherever it is greatest ; synergistic growth and continuous productivity improvement and cost reduction initiatives which further integrate our operations and drive significant cost savings and efficiencies ; growth through acquisitions and greenfield development in existing and new geographic regions that generate attractive returns ; and continued investment in and benefit from technologies and process improvements which increase the separation and recovery of recycled materials from our shredding process . our strategy is focused on enhancing the inherent synergies within our integrated operations while continuing to improve productivity and grow our operations in core regions where we have a significant market presence and competitively advantageous port access . apb is a key supplier to mrb , and we opportunistically look to enhance the geographic proximity of operations within the two businesses . mrb and apb historically have had an integrated presence in the northwestern u.s. and in northern california , near mrb 's export facilities in tacoma , washington , portland , oregon and oakland , california , which benefit from the synergies of this enhanced access to supply . in early fiscal 2014 , we completed multi-year strategic investments in western canada , which enabled mrb and apb 's synergistic expansion into british columbia and alberta with seven metals collection and processing facilities , including a new shredder , as well as eight auto parts stores . apb 's facilities in western canada provide crushed autobodies to mrb 's new franchise in western canada in addition to shipping to its tacoma , washington facility . in fiscal 2014 , we opened our first greenfield auto parts store in johnston , rhode island , which , combined with three stores in massachusetts and rhode island acquired in fiscal 2013 , expands apb 's presence in the northeastern u.s. and enables a new source of supply for mrb 's northeastern regional operations which include 13 metals recycling and processing facilities . during fiscal 2014 we continued to implement enhancements to the synergies between these businesses by integrating certain operational processes . executive overview of financial results we generated consolidated revenues of $ 2.5 billion in fiscal 2014 , a decrease of 3 % from the $ 2.6 billion of consolidated revenues in the prior year . overall consolidated revenues decreased primarily due to lower average net selling prices for ferrous and nonferrous metal and reduced sales volumes of export ferrous metal as a result of continued weak economic conditions globally that adversely impacted export demand for recycled metal , which was only partially offset by higher volumes for domestic sales of recycled ferrous metal , nonferrous metal , and finished steel products . story_separator_special_tag fiscal 2013 also included $ 5 million of operating losses at apb , including transaction , integration and startup costs , related to the eleven store locations acquired or opened during fiscal 2013. these decreases were offset by an increase in operating income at smb of $ 9 million compared to fiscal 2012 primarily as a result of slightly improved demand leading to higher sales volumes and increased utilization levels . operating results in fiscal 2013 benefited from a reduction in sg & a expense of $ 12 million , or 6 % , from fiscal 2012 , primarily as a result of the restructuring initiatives and other operating efficiencies announced in the fourth quarter of fiscal 2012 and implemented in fiscal 2013. the decrease compared to fiscal 2012 was driven primarily by a reduction of $ 5 million in employee compensation expense and $ 4 million in professional and outside services . the reduction in consolidated sg & a expense was achieved despite the incremental expense attributable to the eleven store locations acquired or opened by apb during fiscal 2013. in the fourth quarter of fiscal 2013 , we identified the combination of the continued challenging market conditions , the constrained supply of raw materials , our recent financial performance and the lack of recovery of our market capitalization as a triggering event requiring an interim impairment test of goodwill allocated to our reporting units . for the apb reporting unit , the calculated fair value using the income approach substantially exceeded its carrying value . for the mrb reporting unit , the first step of the impairment test showed that the reporting unit 's fair value was less than its carrying amount , indicating a potential impairment . based on the second step of the impairment test , we recorded a non-cash goodwill impairment charge of $ 321 million at mrb . see critical accounting policies and estimates in part ii , item 7 of this report . during the fourth quarter of fiscal 2013 , we also recorded impairment charges of $ 13 million on various other assets at mrb , including the impairment of a contractual receivable of $ 8 million as a result of the debtor 's inability to repay the amount owed under agreements entered into for the extraction of scrap metal through demolition activities . we also identified impairments of $ 5 million on a combination of assets held for sale , a joint venture investment and other long-lived assets . interest expense interest expense was $ 11 million , $ 10 million and $ 12 million for fiscal 2014 , 2013 and 2012 , respectively . the decrease from fiscal 2012 to fiscal 2013 was primarily due to decreased average borrowings and lower average interest rates under our bank credit facilities compared to the prior year period . for more information about our outstanding debt balances , see note 9 – long-term debt in the notes to the consolidated financial statements in part ii , item 8 of this report . income tax expense ( benefit ) income tax expense ( benefit ) was $ 2 million , $ ( 57 ) million and $ 14 million for fiscal 2014 , 2013 and 2012 , respectively . our effective tax rate in fiscal 2014 was an expense of 19 % and was lower than the u.s. federal statutory rate of 35 % . the effective tax rate benefited from a fixed asset tax basis study performed during fiscal 2014 which resulted in the recognition of a tax benefit of $ 2 million , as well as the aggregate impact of excluding income associated with noncontrolling interests , foreign income taxed at different rates , and certain deductions and credits . other significant items impacting the effective tax rate included the recognition of a valuation allowance against certain foreign and state deferred tax assets and the recognition of a liability for unrecognized tax benefits of $ 2 million . the valuation allowance on deferred tax assets of certain foreign and state tax jurisdictions increased by $ 2 million compared to the prior year and was recognized as a result of negative evidence , including recent losses in certain foreign and state jurisdictions , outweighing the more subjective positive evidence , indicating that it is more likely than not that the associated tax benefit will not be realized . realization of the foreign subsidiaries ' deferred tax assets is dependent upon generating sufficient taxable income in the foreign tax jurisdiction in future years to benefit from the reversal of net deductible temporary differences and from the utilization of net operating losses . our effective tax rate for fiscal 2013 was a benefit of 17 % and differed from the u.s. federal statutory rate of 35 % primarily due to the recognition of an expense of $ 29 million to record a valuation allowance on deferred tax assets mainly related to a foreign subsidiary , the impact of the non-deductible portion of the goodwill impairment charge and the impact of the foreign tax rate differential on operating losses recorded by our foreign subsidiaries . the deferred tax assets at the foreign subsidiary for which a valuation allowance was recorded were related primarily to deductible temporary differences created in fiscal 2013 by the goodwill impairment charge and by net operating losses at the subsidiary . 30 / schnitzer steel industries , inc. form 10-k 2014 schnitzer steel industries , inc. in fiscal 2012 the effective tax rate was an expense of 33 % and differed from the u.s. federal statutory rate of 35 % primarily due to state tax benefits and research and development credits , partially offset by the adverse impact of foreign subsidiaries ' results taxed at different tax rates . we will continue to regularly assess the realizability of deferred tax assets . changes in historical earnings performance and future earnings projections , among other factors , may cause us to adjust our

