with this in mind , we establish advance rates that are intended to allow us to achieve acceptable levels of profitability , even if collection rates are less than we initially forecast . the following table presents forecasted consumer loan collection rates , advance rates , the spread ( the forecasted collection rate less the advance rate ) , and the percentage of the forecasted collections that had been realized as of december 31 , 2014 . all amounts , unless otherwise noted , are presented as a percentage of the initial balance of the consumer loan ( principal + interest ) . the table includes both dealer loans and purchased loans . replace_table_token_10_th ( 1 ) represents advances paid to dealers on consumer loans assigned under our portfolio program and one-time payments made to dealers to purchase consumer loans assigned under our purchase program as a percentage of the initial balance of the consumer loans . payments of dealer holdback and accelerated dealer holdback are not included . ( 2 ) presented as a percentage of total forecasted collections . the risk of a material change in our forecasted collection rate declines as the consumer loans age . for 2011 and prior consumer loan assignments , the risk of a material forecast variance is modest , as we have currently realized in excess of 90 % of the expected collections . conversely , the forecasted collection rates for more recent consumer loan assignments are less certain as a significant portion of our forecast has not been realized . the spread between the forecasted collection rate and the advance rate declined during the 2005 through 2007 period as we increased advance rates during this period in response to a more difficult competitive environment . during 2008 and 2009 , the spread increased as the competitive environment improved and we reduced advance rates . in addition , during 2009 , the spread was positively impacted by better than expected consumer loan performance . during the 2010 through 2013 period , the spread decreased as we again increased advance rates in response to the competitive environment . the decline in the spread from 2013 to 2014 is primarily the result of the performance of 2013 consumer loans , which has exceeded our initial expectations by a greater margin than 2014 consumer loans . 24 the following table presents forecasted consumer loan collection rates , advance rates , and the spread ( the forecasted collection rate less the advance rate ) as of december 31 , 2014 for dealer loans and purchased loans separately . all amounts are presented as a percentage of the initial balance of the consumer loan ( principal + interest ) . replace_table_token_11_th ( 1 ) the forecasted collection rates and advance rates presented for each consumer loan assignment year change over time due to the impact of transfers between dealer and purchased loans . under our portfolio program , certain events may result in dealers forfeiting their rights to dealer holdback . we transfer the dealer 's consumer loans from the dealer loan portfolio to the purchased loan portfolio in the period this forfeiture occurs . ( 2 ) represents advances paid to dealers on consumer loans assigned under our portfolio program and one-time payments made to dealers to purchase consumer loans assigned under our purchase program as a percentage of the initial balance of the consumer loans . payments of dealer holdback and accelerated dealer holdback are not included . although the advance rate on purchased loans is higher as compared to the advance rate on dealer loans , purchased loans do not require us to pay dealer holdback . access to capital our strategy for accessing capital on acceptable terms needed to maintain and grow the business is to : ( 1 ) maintain consistent financial performance ; ( 2 ) maintain modest financial leverage ; and ( 3 ) maintain multiple funding sources . our funded debt to equity ratio was 2.5:1 as of december 31 , 2014 . we currently utilize the following primary forms of debt financing : ( 1 ) a revolving secured line of credit ; ( 2 ) warehouse facilities ; ( 3 ) term abs financings ; and ( 4 ) senior notes . consumer loan volume the following table summarizes changes in consumer loan assignment volume in each of the last three years as compared to the same period in the previous year : replace_table_token_12_th ( 1 ) represents advances paid to dealers on consumer loans assigned under our portfolio program and one-time payments made to dealers to purchase consumer loans assigned under our purchase program . payments of dealer holdback and accelerated dealer holdback are not included . 25 consumer loan assignment volumes depend on a number of factors including ( 1 ) the overall demand for our product , ( 2 ) the amount of capital available to fund new loans , and ( 3 ) our assessment of the volume that our infrastructure can support . our pricing strategy is intended to maximize the amount of economic profit we generate , within the confines of capital and infrastructure constraints . unit and dollar volumes grew 10.8 % and 13.2 % , respectively , during 2014 as the number of active dealers grew 13.3 % while average volume per active dealer declined 2.2 % . we believe the decline in volume per dealer is the result of increased competition during the first three quarters of 2014. the following table summarizes the changes in consumer loan unit volume and active dealers : replace_table_token_13_th ( 1 ) active dealers are dealers who have received funding for at least one loan during the period . story_separator_special_tag in recognizing restricted stock-based compensation expense , we make assumptions regarding the expected forfeiture rates of the restricted stock awards . we also make assumptions regarding the expected vesting dates of performance-based restricted stock awards . the fair value of restricted stock awards are estimated as if they were vested and issued on the grant date and are recognized over the expected vesting period of the restricted stock award . for additional information , see notes 2 and 14 to the consolidated financial statements contained in item 8 of this form 10-k , which are incorporated herein by reference . key factors . changes in the expected vesting dates of performance-based restricted stock awards and expected forfeiture rates would impact the amount and timing of stock-based compensation expense recognized in future periods . a 10 % change in stock-based compensation expense for the year ended december 31 , 2014 would have affected 2014 net income by approximately $ 1.0 million . litigation and contingent liabilities nature of estimates required . we estimate the likelihood of adverse legal judgments and any resulting damages owed . these estimates impact accounts payable and accrued liabilities on our balance sheet and are general and administrative expenses on our income statement . assumptions and approaches used . with assistance from our legal counsel , we determine if the likelihood of an adverse judgment for various claims and litigation is remote , reasonably possible , or probable . to the extent we believe an adverse judgment is probable and the amount of the judgment is estimable , we recognize a liability . for information regarding the potential various claims against us , see note 16 to the consolidated financial statements contained in item 8 of this form 10-k , which is incorporated herein by reference . key factors . negative variances in the ultimate disposition of claims and litigation outstanding from current estimates could result in additional expense in future periods . uncertain tax positions nature of estimates required . we estimate the impact of an uncertain income tax position on the income tax return . these estimates impact income taxes receivable and accounts payable and accrued liabilities on our balance sheet and provision for income taxes on our income statement . 33 assumptions and approaches used . we follow a two-step approach for recognizing uncertain tax positions . first , we evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more-likely-than-not that the position will be sustained upon examination , including resolution of related appeals or litigation processes , if any . second , for positions that we determine are more-likely-than-not to be sustained , we recognize the tax benefit as the largest benefit that has a greater than 50 % likelihood of being sustained . we establish a reserve for uncertain tax positions liability that is comprised of unrecognized tax benefits and related interest . we adjust this liability in the period in which an uncertain tax position is effectively settled , the statute of limitations expires for the relevant taxing authority to examine the tax position , or more information becomes available . key factors . to the extent we prevail in matters for which a liability has been established or are required to pay amounts in excess of our established liability , our effective income tax rate in future periods could be materially affected . liquidity and capital resources we need capital to maintain and grow our business . our primary sources of capital are cash flows from operating activities , collections of consumer loans and borrowings under : ( 1 ) a revolving secured line of credit ; ( 2 ) warehouse facilities ; ( 3 ) term abs financings ; and ( 4 ) senior notes . there are various restrictive debt covenants for each financing arrangement and we are in compliance with those covenants as of december 31 , 2014 . for information regarding these financings and the covenants included in the related documents , see note 8 to the consolidated financial statements contained in item 8 of this form 10-k , which is incorporated herein by reference . during january 2015 , we completed a $ 300.6 million term abs financing , which was used to repay outstanding indebtedness . the financing has an expected annualized cost of approximately 2.6 % ( including the initial purchaser 's fees and other costs ) , and it will revolve for 24 months , after which it will amortize based upon the cash flows on the contributed loans . during the third quarter of 2014 , we extended the date on which warehouse facility ii , our $ 325.0 million revolving secured warehouse facility , will cease to revolve from december 27 , 2015 to july 18 , 2017. there were no other material changes to the terms of the facility . during the third quarter of 2014 , we extended the date on which one of our $ 75.0 million revolving secured warehouse facilities will cease to revolve , from september 10 , 2015 to september 10 , 2017. in connection with the renewal , we formed a new wholly owned subsidiary , cac warehouse funding llc v which replaced cac warehouse funding iii , llc . the maturity of the facility was also extended from september 10 , 2017 to september 10 , 2019. there were no other material changes to the terms of the facility . during the third quarter of 2014 , we completed a $ 349.0 million term abs financing , which was used to repay outstanding indebtedness . the financing has an expected annualized cost of approximately 2.4 % ( including the initial purchaser 's fees and other costs ) , and it will revolve for 24 months , after which it will amortize based upon the cash flows on the contributed loans . during the second quarter of 2014 , we completed a $ 299.0 million

loss on extinguishment of debt . for the year ended december 31 , 2014 , we recognized a loss on extinguishment of debt of $ 21.8 million related to the redemption of the 2017 senior notes . we used the net proceeds from the january 2014 issuance of the 2021 senior notes , together with borrowings under our revolving credit facilities , to fund the redemption of the 2017 senior notes . provision for income taxes . for the year ended december 31 , 2014 , the effective tax rate of 36.8 % was generally consistent with the effective tax rate of 36.4 % in 2013 . year ended december 31 , 2013 compared to year ended december 31 , 2012 the following table highlights changes in net income for the year ended december 31 , 2013 , as compared to 2012 : replace_table_token_20_th ( 1 ) operating expenses consist of salaries and wages , general and administrative , and sales and marketing expenses . 29 finance charges . for the year ended december 31 , 2013 , finance charges increased $ 52.2 million , or 9.7 % , as compared to 2012. the increase was primarily the result of an increase in the average net loans receivable balance partially offset by a decrease in the average yield on our loan portfolio , as follows : replace_table_token_21_th the following table summarizes the impact each component had on the overall increase in finance charges for the year ended december 31 , 2013 : ( in millions ) impact on finance charges : for the year ended december 31 , 2013 due to an increase in the average net loans receivable balance $ 87.3 due to a decrease in the average yield ( 35.1 ) total increase in finance charges $ 52.2 the increase in the average net loans receivable balance was primarily due to growth in new consumer loan assignments in recent years , which resulted in the dollar volume of new consumer loan assignments exceeding the principal collected on loans throughout 2012 and 2013. the growth in new consumer loan assignments in recent years was the result of an increase in active dealers , partially offset by a decline in


 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.
     ```loss on extinguishment of debt . for the year ended december 31 , 2014 , we recognized a loss on extinguishment of debt of $ 21.8 million related to the redemption of the 2017 senior notes . we used the net proceeds from the january 2014 issuance of the 2021 senior notes , together with borrowings under our revolving credit facilities , to fund the redemption of the 2017 senior notes . provision for income taxes . for the year ended december 31 , 2014 , the effective tax rate of 36.8 % was generally consistent with the effective tax rate of 36.4 % in 2013 . year ended december 31 , 2013 compared to year ended december 31 , 2012 the following table highlights changes in net income for the year ended december 31 , 2013 , as compared to 2012 : replace_table_token_20_th ( 1 ) operating expenses consist of salaries and wages , general and administrative , and sales and marketing expenses . 29 finance charges . for the year ended december 31 , 2013 , finance charges increased $ 52.2 million , or 9.7 % , as compared to 2012. the increase was primarily the result of an increase in the average net loans receivable balance partially offset by a decrease in the average yield on our loan portfolio , as follows : replace_table_token_21_th the following table summarizes the impact each component had on the overall increase in finance charges for the year ended december 31 , 2013 : ( in millions ) impact on finance charges : for the year ended december 31 , 2013 due to an increase in the average net loans receivable balance $ 87.3 due to a decrease in the average yield ( 35.1 ) total increase in finance charges $ 52.2 the increase in the average net loans receivable balance was primarily due to growth in new consumer loan assignments in recent years , which resulted in the dollar volume of new consumer loan assignments exceeding the principal collected on loans throughout 2012 and 2013. the growth in new consumer loan assignments in recent years was the result of an increase in active dealers , partially offset by a decline in
```    
 Suspicious Activity Report : with this in mind , we establish advance rates that are intended to allow us to achieve acceptable levels of profitability , even if collection rates are less than we initially forecast . the following table presents forecasted consumer loan collection rates , advance rates , the spread ( the forecasted collection rate less the advance rate ) , and the percentage of the forecasted collections that had been realized as of december 31 , 2014 . all amounts , unless otherwise noted , are presented as a percentage of the initial balance of the consumer loan ( principal + interest ) . the table includes both dealer loans and purchased loans . replace_table_token_10_th ( 1 ) represents advances paid to dealers on consumer loans assigned under our portfolio program and one-time payments made to dealers to purchase consumer loans assigned under our purchase program as a percentage of the initial balance of the consumer loans . payments of dealer holdback and accelerated dealer holdback are not included . ( 2 ) presented as a percentage of total forecasted collections . the risk of a material change in our forecasted collection rate declines as the consumer loans age . for 2011 and prior consumer loan assignments , the risk of a material forecast variance is modest , as we have currently realized in excess of 90 % of the expected collections . conversely , the forecasted collection rates for more recent consumer loan assignments are less certain as a significant portion of our forecast has not been realized . the spread between the forecasted collection rate and the advance rate declined during the 2005 through 2007 period as we increased advance rates during this period in response to a more difficult competitive environment . during 2008 and 2009 , the spread increased as the competitive environment improved and we reduced advance rates . in addition , during 2009 , the spread was positively impacted by better than expected consumer loan performance . during the 2010 through 2013 period , the spread decreased as we again increased advance rates in response to the competitive environment . the decline in the spread from 2013 to 2014 is primarily the result of the performance of 2013 consumer loans , which has exceeded our initial expectations by a greater margin than 2014 consumer loans . 24 the following table presents forecasted consumer loan collection rates , advance rates , and the spread ( the forecasted collection rate less the advance rate ) as of december 31 , 2014 for dealer loans and purchased loans separately . all amounts are presented as a percentage of the initial balance of the consumer loan ( principal + interest ) . replace_table_token_11_th ( 1 ) the forecasted collection rates and advance rates presented for each consumer loan assignment year change over time due to the impact of transfers between dealer and purchased loans . under our portfolio program , certain events may result in dealers forfeiting their rights to dealer holdback . we transfer the dealer 's consumer loans from the dealer loan portfolio to the purchased loan portfolio in the period this forfeiture occurs . ( 2 ) represents advances paid to dealers on consumer loans assigned under our portfolio program and one-time payments made to dealers to purchase consumer loans assigned under our purchase program as a percentage of the initial balance of the consumer loans . payments of dealer holdback and accelerated dealer holdback are not included . although the advance rate on purchased loans is higher as compared to the advance rate on dealer loans , purchased loans do not require us to pay dealer holdback . access to capital our strategy for accessing capital on acceptable terms needed to maintain and grow the business is to : ( 1 ) maintain consistent financial performance ; ( 2 ) maintain modest financial leverage ; and ( 3 ) maintain multiple funding sources . our funded debt to equity ratio was 2.5:1 as of december 31 , 2014 . we currently utilize the following primary forms of debt financing : ( 1 ) a revolving secured line of credit ; ( 2 ) warehouse facilities ; ( 3 ) term abs financings ; and ( 4 ) senior notes . consumer loan volume the following table summarizes changes in consumer loan assignment volume in each of the last three years as compared to the same period in the previous year : replace_table_token_12_th ( 1 ) represents advances paid to dealers on consumer loans assigned under our portfolio program and one-time payments made to dealers to purchase consumer loans assigned under our purchase program . payments of dealer holdback and accelerated dealer holdback are not included . 25 consumer loan assignment volumes depend on a number of factors including ( 1 ) the overall demand for our product , ( 2 ) the amount of capital available to fund new loans , and ( 3 ) our assessment of the volume that our infrastructure can support . our pricing strategy is intended to maximize the amount of economic profit we generate , within the confines of capital and infrastructure constraints . unit and dollar volumes grew 10.8 % and 13.2 % , respectively , during 2014 as the number of active dealers grew 13.3 % while average volume per active dealer declined 2.2 % . we believe the decline in volume per dealer is the result of increased competition during the first three quarters of 2014. the following table summarizes the changes in consumer loan unit volume and active dealers : replace_table_token_13_th ( 1 ) active dealers are dealers who have received funding for at least one loan during the period . story_separator_special_tag in recognizing restricted stock-based compensation expense , we make assumptions regarding the expected forfeiture rates of the restricted stock awards . we also make assumptions regarding the expected vesting dates of performance-based restricted stock awards . the fair value of restricted stock awards are estimated as if they were vested and issued on the grant date and are recognized over the expected vesting period of the restricted stock award . for additional information , see notes 2 and 14 to the consolidated financial statements contained in item 8 of this form 10-k , which are incorporated herein by reference . key factors . changes in the expected vesting dates of performance-based restricted stock awards and expected forfeiture rates would impact the amount and timing of stock-based compensation expense recognized in future periods . a 10 % change in stock-based compensation expense for the year ended december 31 , 2014 would have affected 2014 net income by approximately $ 1.0 million . litigation and contingent liabilities nature of estimates required . we estimate the likelihood of adverse legal judgments and any resulting damages owed . these estimates impact accounts payable and accrued liabilities on our balance sheet and are general and administrative expenses on our income statement . assumptions and approaches used . with assistance from our legal counsel , we determine if the likelihood of an adverse judgment for various claims and litigation is remote , reasonably possible , or probable . to the extent we believe an adverse judgment is probable and the amount of the judgment is estimable , we recognize a liability . for information regarding the potential various claims against us , see note 16 to the consolidated financial statements contained in item 8 of this form 10-k , which is incorporated herein by reference . key factors . negative variances in the ultimate disposition of claims and litigation outstanding from current estimates could result in additional expense in future periods . uncertain tax positions nature of estimates required . we estimate the impact of an uncertain income tax position on the income tax return . these estimates impact income taxes receivable and accounts payable and accrued liabilities on our balance sheet and provision for income taxes on our income statement . 33 assumptions and approaches used . we follow a two-step approach for recognizing uncertain tax positions . first , we evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more-likely-than-not that the position will be sustained upon examination , including resolution of related appeals or litigation processes , if any . second , for positions that we determine are more-likely-than-not to be sustained , we recognize the tax benefit as the largest benefit that has a greater than 50 % likelihood of being sustained . we establish a reserve for uncertain tax positions liability that is comprised of unrecognized tax benefits and related interest . we adjust this liability in the period in which an uncertain tax position is effectively settled , the statute of limitations expires for the relevant taxing authority to examine the tax position , or more information becomes available . key factors . to the extent we prevail in matters for which a liability has been established or are required to pay amounts in excess of our established liability , our effective income tax rate in future periods could be materially affected . liquidity and capital resources we need capital to maintain and grow our business . our primary sources of capital are cash flows from operating activities , collections of consumer loans and borrowings under : ( 1 ) a revolving secured line of credit ; ( 2 ) warehouse facilities ; ( 3 ) term abs financings ; and ( 4 ) senior notes . there are various restrictive debt covenants for each financing arrangement and we are in compliance with those covenants as of december 31 , 2014 . for information regarding these financings and the covenants included in the related documents , see note 8 to the consolidated financial statements contained in item 8 of this form 10-k , which is incorporated herein by reference . during january 2015 , we completed a $ 300.6 million term abs financing , which was used to repay outstanding indebtedness . the financing has an expected annualized cost of approximately 2.6 % ( including the initial purchaser 's fees and other costs ) , and it will revolve for 24 months , after which it will amortize based upon the cash flows on the contributed loans . during the third quarter of 2014 , we extended the date on which warehouse facility ii , our $ 325.0 million revolving secured warehouse facility , will cease to revolve from december 27 , 2015 to july 18 , 2017. there were no other material changes to the terms of the facility . during the third quarter of 2014 , we extended the date on which one of our $ 75.0 million revolving secured warehouse facilities will cease to revolve , from september 10 , 2015 to september 10 , 2017. in connection with the renewal , we formed a new wholly owned subsidiary , cac warehouse funding llc v which replaced cac warehouse funding iii , llc . the maturity of the facility was also extended from september 10 , 2017 to september 10 , 2019. there were no other material changes to the terms of the facility . during the third quarter of 2014 , we completed a $ 349.0 million term abs financing , which was used to repay outstanding indebtedness . the financing has an expected annualized cost of approximately 2.4 % ( including the initial purchaser 's fees and other costs ) , and it will revolve for 24 months , after which it will amortize based upon the cash flows on the contributed loans . during the second quarter of 2014 , we completed a $ 299.0 million

