lc sales growth of 4 % in 2011 was consistent with our long-term strategic target of 4 %  6 % growth , despite the record lc growth achieved in 2010 of 13 % . for 2012 , we believe that our lc growth will be towards the low end of our long-term target as global gdp growth is expected to be relatively weak . we will experience a much larger drag on flavor sales growth in 2012 as compared to 2011 associated with the exiting of under-performing business and demand in ingredients is still expected to be weak . in particular , lc growth in the first quarter of 2012 will be especially challenged given that this was the strongest quarter during 2011. on a long-term basis we expect that sales growth for the industry will generally be in line with the underlying assumptions that support our long term strategic goals , albeit with some risk in the near term given the continuing global economic uncertainty . changing social habits resulting from increased disposable income , improved focus on personal health and wellness awareness should help drive growth of our consumer product customers ' business , especially in the emerging markets we have targeted , such as india and china . gross margins were down year-over-year as higher raw material costs more than offset the benefits from price increases realized during the course of 2011 , operational improvements in flavors and the benefits associated with the european fragrance rationalization . we expect to continue to see year-over-year increases in raw material costs , especially in the early part of 2012 as we are comparing to the lowest levels of 2011. while we made progress during the course of 2011 in compensating for higher input costs through price increases , there was a substantial gap for the realization of these increases , primarily within fragrances . we will continue to pursue additional price realization and other cost savings initiatives in 2012 that should enable us to offset the pricing gap over the course of the year . operating profit increased $ 11.4 million to $ 427.7 million ( 15.3 % of sales ) in 2011 compared to $ 416.4 million ( 15.9 % of sales ) . we were able to compensate for the significant gross margin pressure in 2011 by maintaining a strict cost discipline , including the benefits associated with lower incentive compensation . as a 26 result , adjusted operating profit , excluding the effects of restructuring charges in 2011 and 2010 and the mane patent litigation settlement in 2011 , increased $ 48.0 million to $ 474.4 million ( 17.0 % of sales ) in 2011 as compared to $ 426.4 million ( 16.3 % of sales ) in 2010. in december 2011 , we recorded a charge to cover a restructuring which involved a reduction in workforce across fragrances , flavors and corporate functions as well as a realignment of responsibilities in our fragrances business unit . we expect to realize approximately $ 9.0 million in savings during 2012 as a result of this restructuring initiative . the savings generated will principally benefit the functional fragrance activities within the company . this category was one of the improvement opportunities identified during our 2010 strategic assessment process . despite the near-term challenges we faced during 2011 , we continued to execute against the strategic priorities identified during our 2010 assessment . in particular , ensuring that we have adequate resources and capabilities in place to support planned growth in emerging markets through investments and key technologies was the primary driver within the $ 127 million ( 4.6 % of sales ) of capital spending during 2011. in 2012 , we again expect capital spending to approach 5 % as we continue to prioritize investments in emerging markets and flavors . cash flows from operations were $ 189.2 million or 6.8 % of sales in 2011 as compared to $ 315.1 million or 12 % of sales during 2010. the decrease in cash generation was primarily driven by the year-over-year impact of incentive compensation payments and accruals , a $ 40.0 million patent litigation settlement payment in the fourth quarter and higher tax payments in 2011 associated with the strong 2010 results . results of operations replace_table_token_8_th 27 cost of goods sold includes the cost of materials and manufacturing expenses ; raw materials generally constitute 70.0 % of the total . r & d expenses relate to the development of new and improved products , technical product support and compliance with governmental regulations . s & a expenses include expenses necessary to support our commercial activities and administrative expenses principally associated with staff groups that support our overall operating activities . 2011 in comparison to 2010 s ales sales for 2011 totaled $ 2.8 billion , an increase of 6 % from the prior year . excluding currency impacts , lc sales grew by 4 % , driven principally by new business and the realization of price increases that were implemented to mitigate the effects of higher raw material costs . lc sales growth was primarily driven by the realization of price increases across both business units , while new win performance was largely offset by volume declines in the second half of 2011 , mainly in fragrances . overall lc growth was driven by 8 % growth in the emerging markets . flavors business unit on a reported basis , flavor sales increased 12 % ; excluding the impact of foreign currency , lc sales for the flavors business increased 9 % versus the prior year period . the increase was driven by new business with our customers , followed by the realization of price increases and growth in the underlying demand for our customers ' products . sales growth in 2011 includes the impact of exiting approximately $ 6 million of less profitable non-strategic business . story_separator_special_tag the increase was due to growth driven incentive compensation accruals of $ 15.0 million and lower r & d tax credits of $ 5.0 million . the remaining increase was due to higher basic research , targeted investments to support strategic growth initiatives , and lower prior period base comparison resulting from some curtailment in 2009 spend due to the then prevailing economic crisis . selling and administrative ( s & a ) s & a as a percentage of sales , increased slightly to 17.1 % of sales compared to 16.8 % for 2009. overall spending increased $ 56.5 million versus the prior year , mainly driven by higher provisions for incentive compensation of $ 36.0 million . the remaining variance was due to planned investments and volume related activity to support growth , contingency related costs and fees , and lower prior period base spending in 2009 due to the prevailing economic crisis . the 2009 results include approximately $ 6.0 million of severance and related costs , primarily associated with a change in our chief executive officer . restructuring and other charges replace_table_token_14_th european rationalization plan in 2009 , as part of the rationalization of our european fragrance manufacturing footprint , the company decided to close its fragrances compounding facility in drogheda , ireland as well as the partial closure of its fragrance ingredients plant in haverhill , united kingdom . the company recorded $ 12.2 million of severance costs and $ 1.0 million of accelerated depreciation on certain related assets and other restructuring related costs . in addition , as part of the continued focus to optimize our european operations , the flavors segment recorded a provision for severance costs of $ 1.0 million . the company has completed its negotiations with the drogheda , ireland employee representatives regarding separation benefits related to the closure of the company 's compounding facility at that location during the third quarter 2010. based upon the period-end estimates regarding the separation agreements , the company increased its provision for severance costs by $ 4.4 million in 2010. the remaining $ 5.7 million of the restructuring charges in 2010 was mainly due to accelerated depreciation and other restructuring related costs pertaining to the rationalization of our fragrances and ingredients operations in europe . the company ceased its operations at the drogheda plant as of september 30 , 2010. performance improvement plan in 2009 we provided another $ 6.6 million for severance and related costs associated with the elimination of approximately 70 additional positions globally . subsequently , there was a $ 2.5 million reduction in previously recorded provisions due to lower estimated benefit costs on severance paid as well as fewer position eliminations requiring severance . 34 operating results by business unit we evaluate the performance of business units based on operating profit before interest expense , other expense , net and income taxes . see note 12 to our consolidated financial statements for the reconciliation to income before taxes . replace_table_token_15_th replace_table_token_16_th flavors business unit in 2010 , flavors operating profit totaled $ 242.5 million , or 20.2 % as a percentage of sales , compared to $ 208.3 million or 19.3 % in 2009. the improvement in profitability was mainly driven by a 100 basis point ( bps ) improvement in gross margin resulting from strong sales growth and better absorption , improving input costs , and the benefits of our margin improvement initiatives , partially offset by higher tolling costs associated with some outsourcing of work . research , selling and administrative costs ( rsa ) were down 10 bps as a percentage of sales . higher overall rsa expenses were due to targeted investments in business development , growth driven incentive compensation costs , and product liability and other contingency claims . fragrances business unit fragrances operating profit for 2010 was $ 234.9 million , or 16.5 % as a percentage of sales , compared to $ 170.5 million or 13.7 % reported in 2009. fragrances adjusted operating profit increased more than $ 56.4 million to $ 245.0 million ( 17.3 % of sales ) versus $ 188.6 million ( 15.1 % of sales ) during 2009. the improvement in profit was driven by a 200 bps increase in gross margin resulting from higher volumes and net win performance , favorable input costs , and the benefits of ongoing profit improvement initiatives . rsa as a percentage of sales improved 150 bps due to positive cost leverage on our higher volume . overall rsa expenses increased due to incentive compensation expense , lower r & d credits and investments in business development . global expenses global expenses represent corporate and headquarters-related expenses which include legal , finance , human resources and other administrative expenses that are not allocated to an individual business unit . in 2010 , global expenses were $ 61.1 million compared to $ 38.6 million during 2009. the increase in global expenses is mainly due to higher incentive compensation of $ 22.0 million with the balance mainly related to litigation related provisions and costs . in 2009 , global expenses included $ 6.3 million of employee separation costs associated with the change in our chief executive officer . 35 interest expense during 2010 , interest expense totaled $ 48.7 million compared to $ 61.8 million in 2009. the 2009 amount includes $ 4.0 million of interest paid on the close-out of a cross-currency interest rate swap classified as a net investment hedge . the additional reduction versus 2009 reflects certain debt repayments of $ 201.1 million made during the second half of 2009. average cost of debt was 5.0 % for the 2010 period compared to 5.5 % in 2009. other expense , net other expense was $ 8.1 million in 2010 versus $ 1.9 million in 2009 , approximately 50 % of which relates to losses on foreign exchange transactions . the remaining change is principally attributable to higher provisions for non-controlling interest

cash flows from operating activities operating cash flows in 2011 were $ 189.2 million compared to $ 315.1 million and $ 291.6 million in 2010 and 2009 , respectively . the cash flow impact associated with core working capital ( trade receivables plus inventories , less accounts payable ) was flat compared to 2010. the decrease in operating cash flows from 2010 reflects higher incentive compensation payments made in 2011 ( as a result of strong 2010 performance ) , the mane patent litigation settlement of $ 40 million and higher tax payments . working capital ( current assets less current liabilities ) totaled $ 752.7 million at year-end 2011 compared to $ 664.2 million at december 31 , 2010. the 2011 increase in working capital reflects higher commercial activity , significant increases in input costs and lower provisions for incentive compensation . as of december 31 , 2011 , net trade receivables increased by $ 20.5 million as compared to december 31 , 2010 principally related to higher sales levels during the fourth quarter 2011 versus the fourth quarter 2010 . 36 cash flows used in investing activities additions to property , plant and equipment were $ 127.5 million , $ 106.3 million and $ 66.8 million in 2011 , 2010 and 2009 , respectively , and are expected to approximate 5 % of sales in 2012. the increase in additions versus last year reflects planned investments in capacity and new technologies , mainly in the emerging markets . net investing activities in 2011 utilized $ 131.2 million compared to $ 106.8 million and $ 80.9 million in 2010 and 2009 , respectively . the increase in investing activities in 2011 resulted from higher additions to property , plant and equipment to grow in emerging markets . cash flows used in financing activities net financing activities in 2011 used $ 100.7 million compared to $ 156.7 million and $ 312.2 million in 2010 and 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.
     ```cash flows from operating activities operating cash flows in 2011 were $ 189.2 million compared to $ 315.1 million and $ 291.6 million in 2010 and 2009 , respectively . the cash flow impact associated with core working capital ( trade receivables plus inventories , less accounts payable ) was flat compared to 2010. the decrease in operating cash flows from 2010 reflects higher incentive compensation payments made in 2011 ( as a result of strong 2010 performance ) , the mane patent litigation settlement of $ 40 million and higher tax payments . working capital ( current assets less current liabilities ) totaled $ 752.7 million at year-end 2011 compared to $ 664.2 million at december 31 , 2010. the 2011 increase in working capital reflects higher commercial activity , significant increases in input costs and lower provisions for incentive compensation . as of december 31 , 2011 , net trade receivables increased by $ 20.5 million as compared to december 31 , 2010 principally related to higher sales levels during the fourth quarter 2011 versus the fourth quarter 2010 . 36 cash flows used in investing activities additions to property , plant and equipment were $ 127.5 million , $ 106.3 million and $ 66.8 million in 2011 , 2010 and 2009 , respectively , and are expected to approximate 5 % of sales in 2012. the increase in additions versus last year reflects planned investments in capacity and new technologies , mainly in the emerging markets . net investing activities in 2011 utilized $ 131.2 million compared to $ 106.8 million and $ 80.9 million in 2010 and 2009 , respectively . the increase in investing activities in 2011 resulted from higher additions to property , plant and equipment to grow in emerging markets . cash flows used in financing activities net financing activities in 2011 used $ 100.7 million compared to $ 156.7 million and $ 312.2 million in 2010 and 2009 , respectively .
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 Suspicious Activity Report : lc sales growth of 4 % in 2011 was consistent with our long-term strategic target of 4 %  6 % growth , despite the record lc growth achieved in 2010 of 13 % . for 2012 , we believe that our lc growth will be towards the low end of our long-term target as global gdp growth is expected to be relatively weak . we will experience a much larger drag on flavor sales growth in 2012 as compared to 2011 associated with the exiting of under-performing business and demand in ingredients is still expected to be weak . in particular , lc growth in the first quarter of 2012 will be especially challenged given that this was the strongest quarter during 2011. on a long-term basis we expect that sales growth for the industry will generally be in line with the underlying assumptions that support our long term strategic goals , albeit with some risk in the near term given the continuing global economic uncertainty . changing social habits resulting from increased disposable income , improved focus on personal health and wellness awareness should help drive growth of our consumer product customers ' business , especially in the emerging markets we have targeted , such as india and china . gross margins were down year-over-year as higher raw material costs more than offset the benefits from price increases realized during the course of 2011 , operational improvements in flavors and the benefits associated with the european fragrance rationalization . we expect to continue to see year-over-year increases in raw material costs , especially in the early part of 2012 as we are comparing to the lowest levels of 2011. while we made progress during the course of 2011 in compensating for higher input costs through price increases , there was a substantial gap for the realization of these increases , primarily within fragrances . we will continue to pursue additional price realization and other cost savings initiatives in 2012 that should enable us to offset the pricing gap over the course of the year . operating profit increased $ 11.4 million to $ 427.7 million ( 15.3 % of sales ) in 2011 compared to $ 416.4 million ( 15.9 % of sales ) . we were able to compensate for the significant gross margin pressure in 2011 by maintaining a strict cost discipline , including the benefits associated with lower incentive compensation . as a 26 result , adjusted operating profit , excluding the effects of restructuring charges in 2011 and 2010 and the mane patent litigation settlement in 2011 , increased $ 48.0 million to $ 474.4 million ( 17.0 % of sales ) in 2011 as compared to $ 426.4 million ( 16.3 % of sales ) in 2010. in december 2011 , we recorded a charge to cover a restructuring which involved a reduction in workforce across fragrances , flavors and corporate functions as well as a realignment of responsibilities in our fragrances business unit . we expect to realize approximately $ 9.0 million in savings during 2012 as a result of this restructuring initiative . the savings generated will principally benefit the functional fragrance activities within the company . this category was one of the improvement opportunities identified during our 2010 strategic assessment process . despite the near-term challenges we faced during 2011 , we continued to execute against the strategic priorities identified during our 2010 assessment . in particular , ensuring that we have adequate resources and capabilities in place to support planned growth in emerging markets through investments and key technologies was the primary driver within the $ 127 million ( 4.6 % of sales ) of capital spending during 2011. in 2012 , we again expect capital spending to approach 5 % as we continue to prioritize investments in emerging markets and flavors . cash flows from operations were $ 189.2 million or 6.8 % of sales in 2011 as compared to $ 315.1 million or 12 % of sales during 2010. the decrease in cash generation was primarily driven by the year-over-year impact of incentive compensation payments and accruals , a $ 40.0 million patent litigation settlement payment in the fourth quarter and higher tax payments in 2011 associated with the strong 2010 results . results of operations replace_table_token_8_th 27 cost of goods sold includes the cost of materials and manufacturing expenses ; raw materials generally constitute 70.0 % of the total . r & d expenses relate to the development of new and improved products , technical product support and compliance with governmental regulations . s & a expenses include expenses necessary to support our commercial activities and administrative expenses principally associated with staff groups that support our overall operating activities . 2011 in comparison to 2010 s ales sales for 2011 totaled $ 2.8 billion , an increase of 6 % from the prior year . excluding currency impacts , lc sales grew by 4 % , driven principally by new business and the realization of price increases that were implemented to mitigate the effects of higher raw material costs . lc sales growth was primarily driven by the realization of price increases across both business units , while new win performance was largely offset by volume declines in the second half of 2011 , mainly in fragrances . overall lc growth was driven by 8 % growth in the emerging markets . flavors business unit on a reported basis , flavor sales increased 12 % ; excluding the impact of foreign currency , lc sales for the flavors business increased 9 % versus the prior year period . the increase was driven by new business with our customers , followed by the realization of price increases and growth in the underlying demand for our customers ' products . sales growth in 2011 includes the impact of exiting approximately $ 6 million of less profitable non-strategic business . story_separator_special_tag the increase was due to growth driven incentive compensation accruals of $ 15.0 million and lower r & d tax credits of $ 5.0 million . the remaining increase was due to higher basic research , targeted investments to support strategic growth initiatives , and lower prior period base comparison resulting from some curtailment in 2009 spend due to the then prevailing economic crisis . selling and administrative ( s & a ) s & a as a percentage of sales , increased slightly to 17.1 % of sales compared to 16.8 % for 2009. overall spending increased $ 56.5 million versus the prior year , mainly driven by higher provisions for incentive compensation of $ 36.0 million . the remaining variance was due to planned investments and volume related activity to support growth , contingency related costs and fees , and lower prior period base spending in 2009 due to the prevailing economic crisis . the 2009 results include approximately $ 6.0 million of severance and related costs , primarily associated with a change in our chief executive officer . restructuring and other charges replace_table_token_14_th european rationalization plan in 2009 , as part of the rationalization of our european fragrance manufacturing footprint , the company decided to close its fragrances compounding facility in drogheda , ireland as well as the partial closure of its fragrance ingredients plant in haverhill , united kingdom . the company recorded $ 12.2 million of severance costs and $ 1.0 million of accelerated depreciation on certain related assets and other restructuring related costs . in addition , as part of the continued focus to optimize our european operations , the flavors segment recorded a provision for severance costs of $ 1.0 million . the company has completed its negotiations with the drogheda , ireland employee representatives regarding separation benefits related to the closure of the company 's compounding facility at that location during the third quarter 2010. based upon the period-end estimates regarding the separation agreements , the company increased its provision for severance costs by $ 4.4 million in 2010. the remaining $ 5.7 million of the restructuring charges in 2010 was mainly due to accelerated depreciation and other restructuring related costs pertaining to the rationalization of our fragrances and ingredients operations in europe . the company ceased its operations at the drogheda plant as of september 30 , 2010. performance improvement plan in 2009 we provided another $ 6.6 million for severance and related costs associated with the elimination of approximately 70 additional positions globally . subsequently , there was a $ 2.5 million reduction in previously recorded provisions due to lower estimated benefit costs on severance paid as well as fewer position eliminations requiring severance . 34 operating results by business unit we evaluate the performance of business units based on operating profit before interest expense , other expense , net and income taxes . see note 12 to our consolidated financial statements for the reconciliation to income before taxes . replace_table_token_15_th replace_table_token_16_th flavors business unit in 2010 , flavors operating profit totaled $ 242.5 million , or 20.2 % as a percentage of sales , compared to $ 208.3 million or 19.3 % in 2009. the improvement in profitability was mainly driven by a 100 basis point ( bps ) improvement in gross margin resulting from strong sales growth and better absorption , improving input costs , and the benefits of our margin improvement initiatives , partially offset by higher tolling costs associated with some outsourcing of work . research , selling and administrative costs ( rsa ) were down 10 bps as a percentage of sales . higher overall rsa expenses were due to targeted investments in business development , growth driven incentive compensation costs , and product liability and other contingency claims . fragrances business unit fragrances operating profit for 2010 was $ 234.9 million , or 16.5 % as a percentage of sales , compared to $ 170.5 million or 13.7 % reported in 2009. fragrances adjusted operating profit increased more than $ 56.4 million to $ 245.0 million ( 17.3 % of sales ) versus $ 188.6 million ( 15.1 % of sales ) during 2009. the improvement in profit was driven by a 200 bps increase in gross margin resulting from higher volumes and net win performance , favorable input costs , and the benefits of ongoing profit improvement initiatives . rsa as a percentage of sales improved 150 bps due to positive cost leverage on our higher volume . overall rsa expenses increased due to incentive compensation expense , lower r & d credits and investments in business development . global expenses global expenses represent corporate and headquarters-related expenses which include legal , finance , human resources and other administrative expenses that are not allocated to an individual business unit . in 2010 , global expenses were $ 61.1 million compared to $ 38.6 million during 2009. the increase in global expenses is mainly due to higher incentive compensation of $ 22.0 million with the balance mainly related to litigation related provisions and costs . in 2009 , global expenses included $ 6.3 million of employee separation costs associated with the change in our chief executive officer . 35 interest expense during 2010 , interest expense totaled $ 48.7 million compared to $ 61.8 million in 2009. the 2009 amount includes $ 4.0 million of interest paid on the close-out of a cross-currency interest rate swap classified as a net investment hedge . the additional reduction versus 2009 reflects certain debt repayments of $ 201.1 million made during the second half of 2009. average cost of debt was 5.0 % for the 2010 period compared to 5.5 % in 2009. other expense , net other expense was $ 8.1 million in 2010 versus $ 1.9 million in 2009 , approximately 50 % of which relates to losses on foreign exchange transactions . the remaining change is principally attributable to higher provisions for non-controlling interest

