20 financing on june 5 , 2008 , the company issued $ 400 million of 7.125 % senior subordinated notes at par . the notes are due october 1 , 2018 and contain a redemption provision that permits the company , at its option , to call the notes at scheduled dates and prices . the net proceeds from the offering were used to reduce the outstanding balance under the company 's existing revolving credit facility . as of march 31 , 2009 , approximately $ 266 million remained unused under the company 's revolving credit facility , which matures in july 2011. the company 's margins of compliance with the financial covenants of the credit facility result in no restrictions on the company 's ability to borrow on the unused portion of the credit facility . stock repurchase plan in november 2005 , the company 's board of directors approved a stock repurchase plan ( the repurchase plan ) that provided the company with the authorization to repurchase up to $ 150 million of its common stock . during the year ended march 31 , 2009 the company purchased 2.4 million shares for $ 115.6 million to complete the repurchase plan . as of march 31 , 2009 , the company has no authorization remaining for any additional treasury share purchases under the plan . business segments the company aggregates its operations , based on products and services , into two reportable business segments , distribution and all other operations . during the fourth quarter of fiscal 2009 , the company changed the operating practices and organization of its air separation production facilities and national specialty gas labs . the new operating practices and organization reflect the evolution of these businesses and their role to support the regional distribution companies . the regional distribution companies market to and manage the end customer relationships , coordinating and cross-selling the company 's multiple product and service offerings in a closely coordinated and integrated manner . as a result of these changes , these businesses are now reflected in the distribution business segment . also as a result of an organizational realignment , airgas national welders is now part of the distribution business segment . segment information and the prior year income statement commentary have been recast to reflect the realignment of the company 's business segments . enterprise information system the company signed a license agreement with sap ag ( sap ) to implement the sap enterprise information system for many aspects of the company 's operations . the design and configuration phase of the project will be completed in approximately 12 months . the implementation phase , which will follow the design phase , is expected to last 24 to 36 months . upon completion , the company believes that the system will provide a platform for highly efficient operations and consistent measurement of performance throughout the company . looking forward prevailing economic conditions offer limited visibility into future sales and earnings , which should be taken into consideration when evaluating the company 's guidance . looking forward , the company expects net earnings for the first quarter ending june 30 , 2009 to range from $ 0.62 to $ 0.67 per diluted share , a decline of 23 % to 17 % from the strong first quarter results in fiscal 2009. for the full year 2010 , the company expects earnings per diluted share of $ 2.60 to $ 2.90 , a decline of 17 % to 7 % from fiscal 2009 . 21 income statement commentary three months ended march 31 , 2009 compared to three months ended march 31 , 2008 net sales net sales decreased 9 % to $ 1.0 billion for the three months ended march 31 , 2009 ( current quarter ) compared to the three months ended march 31 , 2008 ( prior year quarter ) , driven by acquisition growth of 4 % and same-store sales decline of 13 % . gas and rent same-store sales declined 8 % and hardgoods declined 20 % . volume declines were experienced in both product lines . strategic products account for about 40 % of revenues and include safety products , medical , specialty and bulk gases , as well as carbon dioxide and dry ice . the company has identified these products as strategic because it believes they have good long-term growth profiles relative to the company 's core industrial gas and welding products due to favorable end customer markets , application development , increasing environmental regulation , strong cross-selling opportunities or a combination thereof . many of the strategic products are sold to customers whose growth profile tends to outperform gdp , including medical , life sciences , food processing and environmental markets . the company believes its focus on these strategic products and markets will help to mitigate the impact of the current recessionary environment . in the aggregate , these products declined 6 % on a same-store sales basis in the current quarter compared to the prior year quarter . growth in medical was offset by slight declines in bulk and specialty gas and by more significant slowing in carbon dioxide and safety products . the company estimates same-store sales growth based on a comparison of current period sales to prior period sales , adjusted for acquisitions and divestitures . the pro forma adjustments consist of adding acquired sales to , or subtracting sales of divested operations from , sales reported in the prior period . the table below reflects actual sales and does not include the pro forma adjustments used in calculating the same-store sales metric . the intercompany eliminations represent sales from the all other operations business segment to the distribution business segment . replace_table_token_4_th the distribution business segment 's principal products include industrial , medical and specialty gases , and process chemicals ; cylinder and equipment rental ; and hardgoods . story_separator_special_tag the distribution business segment 's operating income margin increased 50 basis points to 12.0 % compared to 11.5 % in the prior year . the operating margin improvement reflects lower integration expenses which contributed 20 basis points , gross profit margin ( excluding depreciation ) expansion resulting from pricing actions during the year and a shift in product mix toward higher margin gas and rent and attainment of acquisition synergies and cost savings from expense reduction and operating efficiency programs . operating income in the all other operations business segment increased 10 % compared to the prior year , principally driven by strong growth in ammonia . the segment 's operating income margin of 12.0 % was 250 basis points lower than 14.5 % in the prior year . the margin decline resulted from margin pressure on ammonia products in the first half of the year and from a shift in sales mix toward refrigerants , which carry a lower margin than other products in the segment . the shift in product mix toward refrigerants was driven by the acquisition of refron . interest expense and discount on securitization of trade receivables interest expense , net , and the discount on securitization of trade receivables totaled $ 95 million representing a decrease of 11 % compared to the prior year . the decrease primarily resulted from lower weighted-average interest rates related to the company 's variable rate debt instruments , partially offset by higher average debt levels associated with acquisitions and the company 's share repurchases . 27 the company participates in a securitization agreement with three commercial banks to sell up to $ 345 million of qualifying trade receivables ( $ 360 million at march 31 , 2008 ) . the amount of outstanding receivables under the agreement was $ 311 million at march 31 , 2009 versus $ 360 million at march 31 , 2008. net proceeds from the sale of trade receivables were used to reduce borrowings under the company 's revolving credit facilities . the discount on the securitization of trade receivables represents the difference between the carrying value of the receivables and the proceeds from their sale . the amount of the discount varies on a monthly basis depending on the amount of receivables sold and market rates . as discussed in liquidity and capital resources and in item 7a , quantitative and qualitative disclosures about market risk ,  the company manages its exposure to interest rate risk through participation in interest rate swap agreements . including the effect of the interest rate swap agreements and the trade receivables securitization , the company 's ratio of fixed to variable rate debt at march 31 , 2009 was 58 % fixed to 42 % variable . a majority of the company 's variable rate debt is based on a spread over the london interbank offered rate ( libor ) . based on the company 's fixed to variable interest rate ratio , for every 25 basis point increase in libor , the company estimates that its annual interest expense would increase approximately $ 2.2 million . income tax expense the effective income tax rate in fiscal 2009 was 39.2 % of pre-tax earnings in the current year compared to 38.9 % in the prior year . the prior year period includes a $ 0.01 per diluted share tax benefit associated with a change in the texas state income tax law , which reduced the effective tax rate by 0.3 % . the prior year tax benefit was based on additional guidance issued by the state of texas regarding a prior year change in law . these tax benefits reflect the reduction of deferred tax liabilities previously established for temporary differences under the prior state tax law . net earnings net earnings were $ 261 million , or $ 3.12 per diluted share , compared to $ 223 million , or $ 2.66 per diluted share , in the prior year . the prior year included $ 0.06 of integration expense primarily associated with the june 30 , 2007 acquisition of linde 's u.s. packaged gas business , a one-time , non-cash charge of $ 0.03 per diluted share related to the conversion of national welders from a joint venture to a 100 % owned subsidiary , and $ 0.01 per diluted share tax benefit related to a change in texas state income tax law . 28 results of operations : 2008 compared to 2007 overview airgas had net sales for fiscal 2008 of $ 4.0 billion compared to $ 3.2 billion for the fiscal year ended march 31 , 2007 ( fiscal 2007 ) . net sales increased by 25 % in fiscal 2008 driven by the impact of acquisitions and strong same-store sales growth . acquisitions accounted for 18 % of overall sales growth , primarily driven by the two linde ag acquisitions , described below . same-store sales growth contributed 7 % to the increase in total sales , driven equally by pricing and higher sales volumes . sales growth related to pricing reflected price increases , which were designed to offset rising product , operating and distribution costs . higher sales volumes resulted from continued strength in the following : energy and infrastructure construction , medical , food products , environmental , analytical and life sciences customer segments , as well as modest growth of other industrial markets served by the company . the company 's strategic products and related growth initiatives , described below , also contributed significantly to overall sales growth in fiscal 2008. strong operating leverage on sales growth resulted in a 110 basis point expansion in the operating income margin to 11.8 % in fiscal 2008 compared to 10.7 % in fiscal 2007. net earnings per diluted share grew 39 % to $ 2.66 in fiscal 2008 versus $ 1.92 in fiscal 2007. fiscal 2008 included a one-time , non-cash charge of $ 0.03 per diluted share related

liquidity and capital resources fiscal 2009 cash flows net cash provided by operating activities was $ 583 million in fiscal 2009 compared to $ 550 million in fiscal 2008. the increase in cash provided by operating activities was driven by net earnings and lower working capital requirements reflective of slower sales in the latter half of fiscal 2009. net earnings adjusted for non-cash and non-operating items provided cash of $ 605 million versus $ 508 million in the prior year . exclusive of the cash used and provided by the trade receivables securitization agreement , lower working capital requirements provided cash of $ 27 million in the fiscal 2009 versus using cash of $ 51 million in the prior year . the trade receivables securitization agreement used cash of $ 49 million in 34 fiscal 2009. the reduction in the amount of receivables sold under the agreement reflects the slower sales environment in the latter half of the year . in the prior year , an amendment expanded the size of the trade receivables securitization program and the company increased the amount of receivables sold under the program , which provided cash of $ 96 million . consolidated cash flows provided by operating activities were used to repay debt incurred through the acquisition of businesses , as well as to fund investing activities such as capital expenditures . net cash used in investing activities during fiscal 2009 totaled $ 610 million and primarily consisted of cash used for capital expenditures and acquisitions . cash used for capital expenditures was $ 352 million in fiscal 2009 as compared to $ 267 million in fiscal 2008. the increase in capital spending principally reflected infrastructure projects , such as two air separation units and two carbon dioxide plants . construction of the air separation unit in new carlisle , indiana and the carbon dioxide plant in deer park , texas was completed in december 2008 and march 2009 , respectively .


 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 fiscal 2009 cash flows net cash provided by operating activities was $ 583 million in fiscal 2009 compared to $ 550 million in fiscal 2008. the increase in cash provided by operating activities was driven by net earnings and lower working capital requirements reflective of slower sales in the latter half of fiscal 2009. net earnings adjusted for non-cash and non-operating items provided cash of $ 605 million versus $ 508 million in the prior year . exclusive of the cash used and provided by the trade receivables securitization agreement , lower working capital requirements provided cash of $ 27 million in the fiscal 2009 versus using cash of $ 51 million in the prior year . the trade receivables securitization agreement used cash of $ 49 million in 34 fiscal 2009. the reduction in the amount of receivables sold under the agreement reflects the slower sales environment in the latter half of the year . in the prior year , an amendment expanded the size of the trade receivables securitization program and the company increased the amount of receivables sold under the program , which provided cash of $ 96 million . consolidated cash flows provided by operating activities were used to repay debt incurred through the acquisition of businesses , as well as to fund investing activities such as capital expenditures . net cash used in investing activities during fiscal 2009 totaled $ 610 million and primarily consisted of cash used for capital expenditures and acquisitions . cash used for capital expenditures was $ 352 million in fiscal 2009 as compared to $ 267 million in fiscal 2008. the increase in capital spending principally reflected infrastructure projects , such as two air separation units and two carbon dioxide plants . construction of the air separation unit in new carlisle , indiana and the carbon dioxide plant in deer park , texas was completed in december 2008 and march 2009 , respectively .
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 Suspicious Activity Report : 20 financing on june 5 , 2008 , the company issued $ 400 million of 7.125 % senior subordinated notes at par . the notes are due october 1 , 2018 and contain a redemption provision that permits the company , at its option , to call the notes at scheduled dates and prices . the net proceeds from the offering were used to reduce the outstanding balance under the company 's existing revolving credit facility . as of march 31 , 2009 , approximately $ 266 million remained unused under the company 's revolving credit facility , which matures in july 2011. the company 's margins of compliance with the financial covenants of the credit facility result in no restrictions on the company 's ability to borrow on the unused portion of the credit facility . stock repurchase plan in november 2005 , the company 's board of directors approved a stock repurchase plan ( the repurchase plan ) that provided the company with the authorization to repurchase up to $ 150 million of its common stock . during the year ended march 31 , 2009 the company purchased 2.4 million shares for $ 115.6 million to complete the repurchase plan . as of march 31 , 2009 , the company has no authorization remaining for any additional treasury share purchases under the plan . business segments the company aggregates its operations , based on products and services , into two reportable business segments , distribution and all other operations . during the fourth quarter of fiscal 2009 , the company changed the operating practices and organization of its air separation production facilities and national specialty gas labs . the new operating practices and organization reflect the evolution of these businesses and their role to support the regional distribution companies . the regional distribution companies market to and manage the end customer relationships , coordinating and cross-selling the company 's multiple product and service offerings in a closely coordinated and integrated manner . as a result of these changes , these businesses are now reflected in the distribution business segment . also as a result of an organizational realignment , airgas national welders is now part of the distribution business segment . segment information and the prior year income statement commentary have been recast to reflect the realignment of the company 's business segments . enterprise information system the company signed a license agreement with sap ag ( sap ) to implement the sap enterprise information system for many aspects of the company 's operations . the design and configuration phase of the project will be completed in approximately 12 months . the implementation phase , which will follow the design phase , is expected to last 24 to 36 months . upon completion , the company believes that the system will provide a platform for highly efficient operations and consistent measurement of performance throughout the company . looking forward prevailing economic conditions offer limited visibility into future sales and earnings , which should be taken into consideration when evaluating the company 's guidance . looking forward , the company expects net earnings for the first quarter ending june 30 , 2009 to range from $ 0.62 to $ 0.67 per diluted share , a decline of 23 % to 17 % from the strong first quarter results in fiscal 2009. for the full year 2010 , the company expects earnings per diluted share of $ 2.60 to $ 2.90 , a decline of 17 % to 7 % from fiscal 2009 . 21 income statement commentary three months ended march 31 , 2009 compared to three months ended march 31 , 2008 net sales net sales decreased 9 % to $ 1.0 billion for the three months ended march 31 , 2009 ( current quarter ) compared to the three months ended march 31 , 2008 ( prior year quarter ) , driven by acquisition growth of 4 % and same-store sales decline of 13 % . gas and rent same-store sales declined 8 % and hardgoods declined 20 % . volume declines were experienced in both product lines . strategic products account for about 40 % of revenues and include safety products , medical , specialty and bulk gases , as well as carbon dioxide and dry ice . the company has identified these products as strategic because it believes they have good long-term growth profiles relative to the company 's core industrial gas and welding products due to favorable end customer markets , application development , increasing environmental regulation , strong cross-selling opportunities or a combination thereof . many of the strategic products are sold to customers whose growth profile tends to outperform gdp , including medical , life sciences , food processing and environmental markets . the company believes its focus on these strategic products and markets will help to mitigate the impact of the current recessionary environment . in the aggregate , these products declined 6 % on a same-store sales basis in the current quarter compared to the prior year quarter . growth in medical was offset by slight declines in bulk and specialty gas and by more significant slowing in carbon dioxide and safety products . the company estimates same-store sales growth based on a comparison of current period sales to prior period sales , adjusted for acquisitions and divestitures . the pro forma adjustments consist of adding acquired sales to , or subtracting sales of divested operations from , sales reported in the prior period . the table below reflects actual sales and does not include the pro forma adjustments used in calculating the same-store sales metric . the intercompany eliminations represent sales from the all other operations business segment to the distribution business segment . replace_table_token_4_th the distribution business segment 's principal products include industrial , medical and specialty gases , and process chemicals ; cylinder and equipment rental ; and hardgoods . story_separator_special_tag the distribution business segment 's operating income margin increased 50 basis points to 12.0 % compared to 11.5 % in the prior year . the operating margin improvement reflects lower integration expenses which contributed 20 basis points , gross profit margin ( excluding depreciation ) expansion resulting from pricing actions during the year and a shift in product mix toward higher margin gas and rent and attainment of acquisition synergies and cost savings from expense reduction and operating efficiency programs . operating income in the all other operations business segment increased 10 % compared to the prior year , principally driven by strong growth in ammonia . the segment 's operating income margin of 12.0 % was 250 basis points lower than 14.5 % in the prior year . the margin decline resulted from margin pressure on ammonia products in the first half of the year and from a shift in sales mix toward refrigerants , which carry a lower margin than other products in the segment . the shift in product mix toward refrigerants was driven by the acquisition of refron . interest expense and discount on securitization of trade receivables interest expense , net , and the discount on securitization of trade receivables totaled $ 95 million representing a decrease of 11 % compared to the prior year . the decrease primarily resulted from lower weighted-average interest rates related to the company 's variable rate debt instruments , partially offset by higher average debt levels associated with acquisitions and the company 's share repurchases . 27 the company participates in a securitization agreement with three commercial banks to sell up to $ 345 million of qualifying trade receivables ( $ 360 million at march 31 , 2008 ) . the amount of outstanding receivables under the agreement was $ 311 million at march 31 , 2009 versus $ 360 million at march 31 , 2008. net proceeds from the sale of trade receivables were used to reduce borrowings under the company 's revolving credit facilities . the discount on the securitization of trade receivables represents the difference between the carrying value of the receivables and the proceeds from their sale . the amount of the discount varies on a monthly basis depending on the amount of receivables sold and market rates . as discussed in liquidity and capital resources and in item 7a , quantitative and qualitative disclosures about market risk ,  the company manages its exposure to interest rate risk through participation in interest rate swap agreements . including the effect of the interest rate swap agreements and the trade receivables securitization , the company 's ratio of fixed to variable rate debt at march 31 , 2009 was 58 % fixed to 42 % variable . a majority of the company 's variable rate debt is based on a spread over the london interbank offered rate ( libor ) . based on the company 's fixed to variable interest rate ratio , for every 25 basis point increase in libor , the company estimates that its annual interest expense would increase approximately $ 2.2 million . income tax expense the effective income tax rate in fiscal 2009 was 39.2 % of pre-tax earnings in the current year compared to 38.9 % in the prior year . the prior year period includes a $ 0.01 per diluted share tax benefit associated with a change in the texas state income tax law , which reduced the effective tax rate by 0.3 % . the prior year tax benefit was based on additional guidance issued by the state of texas regarding a prior year change in law . these tax benefits reflect the reduction of deferred tax liabilities previously established for temporary differences under the prior state tax law . net earnings net earnings were $ 261 million , or $ 3.12 per diluted share , compared to $ 223 million , or $ 2.66 per diluted share , in the prior year . the prior year included $ 0.06 of integration expense primarily associated with the june 30 , 2007 acquisition of linde 's u.s. packaged gas business , a one-time , non-cash charge of $ 0.03 per diluted share related to the conversion of national welders from a joint venture to a 100 % owned subsidiary , and $ 0.01 per diluted share tax benefit related to a change in texas state income tax law . 28 results of operations : 2008 compared to 2007 overview airgas had net sales for fiscal 2008 of $ 4.0 billion compared to $ 3.2 billion for the fiscal year ended march 31 , 2007 ( fiscal 2007 ) . net sales increased by 25 % in fiscal 2008 driven by the impact of acquisitions and strong same-store sales growth . acquisitions accounted for 18 % of overall sales growth , primarily driven by the two linde ag acquisitions , described below . same-store sales growth contributed 7 % to the increase in total sales , driven equally by pricing and higher sales volumes . sales growth related to pricing reflected price increases , which were designed to offset rising product , operating and distribution costs . higher sales volumes resulted from continued strength in the following : energy and infrastructure construction , medical , food products , environmental , analytical and life sciences customer segments , as well as modest growth of other industrial markets served by the company . the company 's strategic products and related growth initiatives , described below , also contributed significantly to overall sales growth in fiscal 2008. strong operating leverage on sales growth resulted in a 110 basis point expansion in the operating income margin to 11.8 % in fiscal 2008 compared to 10.7 % in fiscal 2007. net earnings per diluted share grew 39 % to $ 2.66 in fiscal 2008 versus $ 1.92 in fiscal 2007. fiscal 2008 included a one-time , non-cash charge of $ 0.03 per diluted share related

