however when including the amount of future invoicing for contracts at each period end , the combined amount of deferred revenue and future invoicing was flat at both december 31 , 2013 and 2012 compared to the prior years . the change in deferred revenue plus future invoicing is essentially consistent with the change in agreement value at december 31 , 2013 and 2012 compared to the prior years and both metrics are reflective of flat contract bookings in both 2013 and 2012 compared to prior years . enrichment , client retention and dollar retention rates at december 31 , 2013 have all trended downward from 2011 levels . the enrichment and client retention rates include a 12-month period and as such the rates in 2013 and 2012 reflect the negative effects from the challenges associated with the implementation of the sales reorganization in early 2012 , high sales employee attrition during 2013 and 2012 , a difficult selling environment in europe during 2013 and 2012 and weaker demand for our data subscription products in 2013 , in part due to the phasing out of our standalone technology marketing navigator data product . critical accounting policies and estimates management 's discussion and analysis of financial condition and results of operations are based upon our consolidated financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states of america ( gaap ) . the preparation of these financial statements requires us to 15 make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosure of contingent assets and liabilities . on an ongoing basis , we evaluate our policies and estimates , including but not limited to , those related to our revenue recognition , stock-based compensation , non-marketable investments , goodwill and intangible assets , income taxes , and valuation and impairment of marketable investments . management bases its estimates on historical experience , data available at the time the estimates are made and various assumptions that are believed to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . we consider the following accounting policies to be those that require the most subjective judgment or that involve uncertainty that could have a material impact on our financial statements . if actual results differ significantly from management 's estimates and projections , there could be a material effect on our financial statements . this is not a comprehensive list of all of our accounting policies . in many cases , the accounting treatment of a particular transaction is specifically dictated by gaap , with no need for management 's judgment in its application . there are also areas in which management 's judgment in selecting any available alternative would not produce a materially different result . for a discussion of our other accounting policies , see note 1 of the notes to consolidated financial statements beginning on page f-7 . revenue recognition . effective january 1 , 2011 we adopted update no . 2009-13 , multiple-deliverable revenue arrangements  a consensus of the fasb emerging issues task force ( asu 2009-13 ) . asu 2009-13 updates the previous multiple-element revenue arrangements guidance . the revised guidance primarily provides three significant changes : 1 ) it eliminates the need for objective and reliable evidence of the fair value for the undelivered element in order for a delivered item to be treated as a separate unit of accounting ; 2 ) it eliminates the residual method to allocate the arrangement consideration ; and 3 ) it modifies the fair value requirements of eitf issue 00-21 by providing best estimate of selling price in addition to vendor specific objective evidence and vendor objective evidence for determining the selling price of a deliverable . the adoption of asu 2009-13 did not have a material impact on our financial position , results of operations or cash flows . we generate revenues from licensing memberships to our research ( including our data subscription products ) , performing advisory services and consulting projects and hosting events . we execute contracts that govern the terms and conditions of each arrangement . revenues are recognized when persuasive evidence of an arrangement exists , the fee is fixed or determinable , services have been provided to the customer , and collectability is reasonably assured . our contracts may include either a single product or service or a combination of multiple products and services . revenues from contracts that contain multiple products or services are allocated among the separate units of accounting based on their relative selling prices ; however , the amount recognized is limited to the amount that is not contingent on future performance conditions . for example , when a discount off of list price is provided in a multiple element contract , the discount is applied ratably to the research and data products only ( which commence delivery on the first day of the contract ) , as the undelivered products in the contract ( advisory services or events ) would be refundable to the customer at list price if not delivered . we obtain the selling prices of our products and services based upon an analysis of standalone sales of these products and services during the year . research services revenues are recognized ratably over the term of the contract . advisory services revenues , such as workshops , speeches and advisory days , are recognized when the customer receives the agreed upon deliverable and consulting project revenues are recognized as the services are provided . reimbursed out-of-pocket expenses are recorded as advisory services revenue . event revenues are recognized upon completion of the event . story_separator_special_tag the increase in advisory and project consulting revenues in 2013 as compared to 2012 was generated in the second half of 2013 and was due primarily to both an increase in consulting headcount as we began to build out a dedicated consulting organization in 2013 as well as to increased productivity of our analyst personnel . please refer to the segment results section below for a discussion of revenue and direct margin results by segment . 21 cost of services and fulfillment replace_table_token_8_th the increase in cost of services and fulfillment expenses during 2013 compared to the prior year is primarily due to a $ 6.0 million increase in compensation costs resulting primarily from an increase in the number of employees , an increase in incentive bonus payments and annual merit increases . in addition , 2013 included an increase in facility costs due to new office space in the asia pacific region in the second half of 2012 and an increase in service fees for cloud-based information systems . these increases were partially offset by a decrease in professional services fees related to the amount of surveys performed and a decrease in travel and entertainment expenses . we hired additional consulting employees in 2013 in support of our decision to build a dedicated consulting organization to provide research-based project consulting services to our clients , allowing our analysts to spend additional timing on writing research and providing shorter-term advisory services . we anticipate cost of services and fulfillment to continue to increase as a percentage of total revenues in 2014 as we plan to accelerate the pace of hiring in 2014 compared to 2013 with additional consulting personnel and product specialists . selling and marketing replace_table_token_9_th the increase in selling and marketing expenses during 2013 compared to the prior year is primarily due to a $ 5.2 million increase in compensation and benefits costs resulting from both an increase in sales and marketing employees and annual merit increases . in addition , 2013 included an increase in facility costs due to new office space in the asia pacific region in the second half of 2012 and an increase in service fees for cloud-based information systems . these increases were partially offset by a decrease in travel and entertainment expenses . subject to the business environment , we intend to expand our quota carrying sales force by approximately 5 % to 7 % in 2014 as compared to 2013. any resulting increase in contract bookings for our research services would generally be recognized over a twelve-month period , which typically results in an increase in selling and marketing expense as a percentage of revenues during periods of sales force expansion . general and administrative replace_table_token_10_th 22 the increase in general and administrative expenses during 2013 compared to the prior year is primarily due to a $ 0.8 million increase in compensation and benefits costs due to an increase in incentive bonus payments and annual merit increases . in addition , 2013 included an increase in recruiting costs to support company-wide hiring in 2013 as well as an increase in facility costs due to new office space in the asia pacific region in the second half of 2012 and an increase in service fees for cloud-based information systems . these increases were partially offset by a decrease in professional services fees primarily related to a decrease in information technology projects as 2012 included an update to our website and implementation of new customer relationship management software . depreciation depreciation expense increased $ 0.3 million during 2013 compared to the prior year primarily resulting from the initiation of depreciation for our new website in march 2012. amortization of intangible assets amortization expense has remained essentially consistent during 2013 as compared to the prior year . reorganization costs during 2013 we incurred $ 1.9 million of severance and related costs for the elimination of 31 jobs or approximately 2.5 % of our workforce worldwide to streamline our operations . essentially all costs incurred for the reorganization were paid during 2013. we incurred $ 1.4 million of severance and related costs during 2012 for the termination of 17 employees related to the sales reorganization and other cost reduction initiatives . essentially all of these costs were paid during 2012. income from operations income from operations declined $ 8.9 million during 2013 as compared to the prior year and declined to 7.3 % of total revenues in 2013 from 10.5 % in the prior year . the decrease in both dollars and as a percentage of total revenues during 2013 is due primarily to low revenue growth in 2013 combined with increased compensation costs in 2013 from additional headcount investments in our consulting and sales organizations and annual merit increases . we anticipate a small contraction in income from operations as a percentage of total revenues in 2014 as compared to 2013 as we plan to continue to invest in consulting and sales headcount in 2014. other income , net other income , net primarily consists of interest income on our marketable securities as well as gains ( losses ) on foreign currency . the decrease in other income , net during 2013 is primarily due to lower interest income earned in 2013 due to lower investment balances . gains ( losses ) on investments , net gains ( losses ) on investments , net include our share of equity method investment gains ( losses ) from our technology-related investment funds and gains ( losses ) from the sale of marketable securities . on october 30 , 2013 we sold our portfolio of auction rate securities ( par value $ 11.0 million ) for a realized loss of $ 1.9 million . in addition , in 2013 we realized an approximate $ 0.7 million loss from our equity method investments primarily from a decrease in the valuation of certain assets within the funds . during 2012 the valuation of the assets within these funds remained

liquidity and capital resources we have historically financed our operations primarily through funds generated from operations . research services revenues , which constituted approximately 68 % of our revenues during 2013 , are generally renewable annually and are typically payable in advance . we generated cash from operating activities of $ 30.7 million and $ 53.1 million during the years ended december 31 , 2013 and 2012 , respectively . the $ 22.4 million decrease in cash provided from operations during 2013 is primarily attributable to a decrease in net income of $ 13.3 million in 2013 compared to 2012 , and a decrease in cash collected from accounts receivable as we entered 2013 with a $ 6.8 million lower receivables balance as compared to 2012. during 2013 we generated $ 57.6 million of cash from investing activities , consisting primarily of $ 60.4 million in net maturities of marketable investments partially offset by $ 3.1 million of purchases of property and equipment . property and equipment purchases during 2013 consisted primarily of software and leasehold improvements . during 2012 , we used $ 4.1 million of cash from investing activities , consisting primarily of $ 5.1 million of purchases of property and equipment , partially offset by a $ 0.9 million reduction in restricted cash . property and equipment purchases during 2012 consisted primarily of software and leasehold improvements . we regularly invest excess funds in short and intermediate-term interest-bearing obligations of investment grade . we used $ 113.4 million of cash from financing activities during 2013 primarily due to $ 118.2 million of purchases of our common stock , of which $ 75.1


 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 we have historically financed our operations primarily through funds generated from operations . research services revenues , which constituted approximately 68 % of our revenues during 2013 , are generally renewable annually and are typically payable in advance . we generated cash from operating activities of $ 30.7 million and $ 53.1 million during the years ended december 31 , 2013 and 2012 , respectively . the $ 22.4 million decrease in cash provided from operations during 2013 is primarily attributable to a decrease in net income of $ 13.3 million in 2013 compared to 2012 , and a decrease in cash collected from accounts receivable as we entered 2013 with a $ 6.8 million lower receivables balance as compared to 2012. during 2013 we generated $ 57.6 million of cash from investing activities , consisting primarily of $ 60.4 million in net maturities of marketable investments partially offset by $ 3.1 million of purchases of property and equipment . property and equipment purchases during 2013 consisted primarily of software and leasehold improvements . during 2012 , we used $ 4.1 million of cash from investing activities , consisting primarily of $ 5.1 million of purchases of property and equipment , partially offset by a $ 0.9 million reduction in restricted cash . property and equipment purchases during 2012 consisted primarily of software and leasehold improvements . we regularly invest excess funds in short and intermediate-term interest-bearing obligations of investment grade . we used $ 113.4 million of cash from financing activities during 2013 primarily due to $ 118.2 million of purchases of our common stock , of which $ 75.1
```    
 Suspicious Activity Report : however when including the amount of future invoicing for contracts at each period end , the combined amount of deferred revenue and future invoicing was flat at both december 31 , 2013 and 2012 compared to the prior years . the change in deferred revenue plus future invoicing is essentially consistent with the change in agreement value at december 31 , 2013 and 2012 compared to the prior years and both metrics are reflective of flat contract bookings in both 2013 and 2012 compared to prior years . enrichment , client retention and dollar retention rates at december 31 , 2013 have all trended downward from 2011 levels . the enrichment and client retention rates include a 12-month period and as such the rates in 2013 and 2012 reflect the negative effects from the challenges associated with the implementation of the sales reorganization in early 2012 , high sales employee attrition during 2013 and 2012 , a difficult selling environment in europe during 2013 and 2012 and weaker demand for our data subscription products in 2013 , in part due to the phasing out of our standalone technology marketing navigator data product . critical accounting policies and estimates management 's discussion and analysis of financial condition and results of operations are based upon our consolidated financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states of america ( gaap ) . the preparation of these financial statements requires us to 15 make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosure of contingent assets and liabilities . on an ongoing basis , we evaluate our policies and estimates , including but not limited to , those related to our revenue recognition , stock-based compensation , non-marketable investments , goodwill and intangible assets , income taxes , and valuation and impairment of marketable investments . management bases its estimates on historical experience , data available at the time the estimates are made and various assumptions that are believed to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . we consider the following accounting policies to be those that require the most subjective judgment or that involve uncertainty that could have a material impact on our financial statements . if actual results differ significantly from management 's estimates and projections , there could be a material effect on our financial statements . this is not a comprehensive list of all of our accounting policies . in many cases , the accounting treatment of a particular transaction is specifically dictated by gaap , with no need for management 's judgment in its application . there are also areas in which management 's judgment in selecting any available alternative would not produce a materially different result . for a discussion of our other accounting policies , see note 1 of the notes to consolidated financial statements beginning on page f-7 . revenue recognition . effective january 1 , 2011 we adopted update no . 2009-13 , multiple-deliverable revenue arrangements  a consensus of the fasb emerging issues task force ( asu 2009-13 ) . asu 2009-13 updates the previous multiple-element revenue arrangements guidance . the revised guidance primarily provides three significant changes : 1 ) it eliminates the need for objective and reliable evidence of the fair value for the undelivered element in order for a delivered item to be treated as a separate unit of accounting ; 2 ) it eliminates the residual method to allocate the arrangement consideration ; and 3 ) it modifies the fair value requirements of eitf issue 00-21 by providing best estimate of selling price in addition to vendor specific objective evidence and vendor objective evidence for determining the selling price of a deliverable . the adoption of asu 2009-13 did not have a material impact on our financial position , results of operations or cash flows . we generate revenues from licensing memberships to our research ( including our data subscription products ) , performing advisory services and consulting projects and hosting events . we execute contracts that govern the terms and conditions of each arrangement . revenues are recognized when persuasive evidence of an arrangement exists , the fee is fixed or determinable , services have been provided to the customer , and collectability is reasonably assured . our contracts may include either a single product or service or a combination of multiple products and services . revenues from contracts that contain multiple products or services are allocated among the separate units of accounting based on their relative selling prices ; however , the amount recognized is limited to the amount that is not contingent on future performance conditions . for example , when a discount off of list price is provided in a multiple element contract , the discount is applied ratably to the research and data products only ( which commence delivery on the first day of the contract ) , as the undelivered products in the contract ( advisory services or events ) would be refundable to the customer at list price if not delivered . we obtain the selling prices of our products and services based upon an analysis of standalone sales of these products and services during the year . research services revenues are recognized ratably over the term of the contract . advisory services revenues , such as workshops , speeches and advisory days , are recognized when the customer receives the agreed upon deliverable and consulting project revenues are recognized as the services are provided . reimbursed out-of-pocket expenses are recorded as advisory services revenue . event revenues are recognized upon completion of the event . story_separator_special_tag the increase in advisory and project consulting revenues in 2013 as compared to 2012 was generated in the second half of 2013 and was due primarily to both an increase in consulting headcount as we began to build out a dedicated consulting organization in 2013 as well as to increased productivity of our analyst personnel . please refer to the segment results section below for a discussion of revenue and direct margin results by segment . 21 cost of services and fulfillment replace_table_token_8_th the increase in cost of services and fulfillment expenses during 2013 compared to the prior year is primarily due to a $ 6.0 million increase in compensation costs resulting primarily from an increase in the number of employees , an increase in incentive bonus payments and annual merit increases . in addition , 2013 included an increase in facility costs due to new office space in the asia pacific region in the second half of 2012 and an increase in service fees for cloud-based information systems . these increases were partially offset by a decrease in professional services fees related to the amount of surveys performed and a decrease in travel and entertainment expenses . we hired additional consulting employees in 2013 in support of our decision to build a dedicated consulting organization to provide research-based project consulting services to our clients , allowing our analysts to spend additional timing on writing research and providing shorter-term advisory services . we anticipate cost of services and fulfillment to continue to increase as a percentage of total revenues in 2014 as we plan to accelerate the pace of hiring in 2014 compared to 2013 with additional consulting personnel and product specialists . selling and marketing replace_table_token_9_th the increase in selling and marketing expenses during 2013 compared to the prior year is primarily due to a $ 5.2 million increase in compensation and benefits costs resulting from both an increase in sales and marketing employees and annual merit increases . in addition , 2013 included an increase in facility costs due to new office space in the asia pacific region in the second half of 2012 and an increase in service fees for cloud-based information systems . these increases were partially offset by a decrease in travel and entertainment expenses . subject to the business environment , we intend to expand our quota carrying sales force by approximately 5 % to 7 % in 2014 as compared to 2013. any resulting increase in contract bookings for our research services would generally be recognized over a twelve-month period , which typically results in an increase in selling and marketing expense as a percentage of revenues during periods of sales force expansion . general and administrative replace_table_token_10_th 22 the increase in general and administrative expenses during 2013 compared to the prior year is primarily due to a $ 0.8 million increase in compensation and benefits costs due to an increase in incentive bonus payments and annual merit increases . in addition , 2013 included an increase in recruiting costs to support company-wide hiring in 2013 as well as an increase in facility costs due to new office space in the asia pacific region in the second half of 2012 and an increase in service fees for cloud-based information systems . these increases were partially offset by a decrease in professional services fees primarily related to a decrease in information technology projects as 2012 included an update to our website and implementation of new customer relationship management software . depreciation depreciation expense increased $ 0.3 million during 2013 compared to the prior year primarily resulting from the initiation of depreciation for our new website in march 2012. amortization of intangible assets amortization expense has remained essentially consistent during 2013 as compared to the prior year . reorganization costs during 2013 we incurred $ 1.9 million of severance and related costs for the elimination of 31 jobs or approximately 2.5 % of our workforce worldwide to streamline our operations . essentially all costs incurred for the reorganization were paid during 2013. we incurred $ 1.4 million of severance and related costs during 2012 for the termination of 17 employees related to the sales reorganization and other cost reduction initiatives . essentially all of these costs were paid during 2012. income from operations income from operations declined $ 8.9 million during 2013 as compared to the prior year and declined to 7.3 % of total revenues in 2013 from 10.5 % in the prior year . the decrease in both dollars and as a percentage of total revenues during 2013 is due primarily to low revenue growth in 2013 combined with increased compensation costs in 2013 from additional headcount investments in our consulting and sales organizations and annual merit increases . we anticipate a small contraction in income from operations as a percentage of total revenues in 2014 as compared to 2013 as we plan to continue to invest in consulting and sales headcount in 2014. other income , net other income , net primarily consists of interest income on our marketable securities as well as gains ( losses ) on foreign currency . the decrease in other income , net during 2013 is primarily due to lower interest income earned in 2013 due to lower investment balances . gains ( losses ) on investments , net gains ( losses ) on investments , net include our share of equity method investment gains ( losses ) from our technology-related investment funds and gains ( losses ) from the sale of marketable securities . on october 30 , 2013 we sold our portfolio of auction rate securities ( par value $ 11.0 million ) for a realized loss of $ 1.9 million . in addition , in 2013 we realized an approximate $ 0.7 million loss from our equity method investments primarily from a decrease in the valuation of certain assets within the funds . during 2012 the valuation of the assets within these funds remained

