the photomask industry has been , and is expected to continue to be , characterized by technological change and evolving industry standards . in order to remain competitive , the company will be required to continually anticipate , respond to , and utilize changing technologies . in particular , the company believes that , as semiconductor geometries continue to become smaller , it will be required to manufacture even more complex optically-enhanced reticles , including optical proximity correction and phase-shift photomasks . additionally , demand for photomasks has been , and could in the future be , adversely affected by changes in semiconductor and high performance electronics fabrication methods that affect the type or quantity of photomasks used , such as changes in semiconductor demand that favor field-programmable gate arrays and other semiconductor designs that replace application-specific ics . furthermore , increased market acceptance of alternative methods of transferring circuit designs onto semiconductor wafers could reduce or eliminate the need for photomasks in the production of semiconductors . as of the end of fiscal 2013 , one alternative method , direct-write lithography , has not been proven to be a commercially viable alternative to photomasks , as it is considered too slow for high volume semiconductor wafer production , and the company has not experienced a significant loss of revenue as a result of this or other alternative semiconductor design methodologies . however , should direct-write or any other alternative method of transferring ic designs to semiconductor wafers without the use of photomasks achieve market acceptance , and the company does not anticipate , respond to , or utilize these or other changing technologies due to resource , technological or other constraints , its business and results of operations could be materially adversely affected . both revenues and costs have been affected by the increased demand for high-end technology photomasks that require more advanced manufacturing capabilities , but generally command higher average selling prices ( `` asps `` ) . the company 's capital expenditure payments aggregated approximately $ 243 million for the three fiscal years ended november 3 , 2013 , which has significantly contributed to the company 's operating expenses . the company intends to continue to make the required investments to support the technological demands of its customers and position itself for future growth , and expects capital expenditure payments to be between $ 70 million and $ 90 million in fiscal 2014. the manufacture of photomasks for use in fabricating ics and other related products built using comparable photomask-based process technologies has been , and continues to be , capital intensive . the company 's integrated global manufacturing network , which consists of eight manufacturing sites , and its employees represent a significant portion of its fixed operating cost base . should sales volumes decrease as a result of a decrease in design releases from the company 's customers , the company may have excess or underutilized production capacity that could significantly impact operating margins , or result in write-offs from asset impairments . 18 in the first quarter of fiscal 2014 the company entered an agreement to merge psmc with dnp photomask technology taiwan co. , ltd. , a wholly owned subsidiary of dai nippon printing co. , ltd. ( dnp ) , to form a joint venture which will operate under the name of photronics dnp mask corporation ( pdmc ) . the pending merger , which is a noncash transaction , will result in the company owning 50.01 % and dnp owning 49.99 % of pdmc , whose financial results will be included in the company 's consolidated financial statements . pdmc is expected to generate sufficient cash flows to fund its operating and capital requirements . the merger is subject to regulatory approvals and customary closing conditions , and is expected to be finalized during the first half of fiscal 2014. in the first quarter of fiscal 2014 the company amended its credit facility to a five year $ 50 million credit facility ( the “ new credit facility ” ) with an expansion capacity to $ 75 million , and simultaneously repaid its $ 21.3 million term loan . the new credit facility , which replaced the credit facility in effect at november 3 , 2013 , bears interest based on the company 's total leverage ratio , at libor plus a spread , as defined in the new credit facility . in the fourth quarter of fiscal 2013 a $ 26.4 million principal amount , five year capital lease to fund the purchase of a high-end lithography tool commenced . payments under the lease , which bears interest at 2.77 % are $ 0.5 million per month through july 2018. under the terms of the lease agreement , the company must maintain the equipment in good working order , and is subject to a cross default with a cross acceleration provision related to certain nonfinancial covenants incorporated in its credit facility . as of november 3 , 2013 , the total amount payable through the end of the lease term was $ 26.8 million , of which $ 25.1 million represented principal and $ 1.7 million represented interest . in the third quarter of fiscal 2013 the company completed a tender offer for shares of psmc . a total of 50.3 million shares were tendered at the offering price of 16.30 ntd ( equivalent to a total of $ 27.4 million ) , which increased the company 's ownership interest in psmc from 75.11 % to 98.13 % . in the fourth quarter of fiscal 2013 the company further increased its ownership interest in psmc to 98.63 % with the purchase of an additional 1.1 million shares of psmc for $ 0.7 million . story_separator_special_tag the credit facility bore interest ( 2.69 % at november 3 , 2013 ) , based on the company 's total leverage ratio , at libor plus a spread , as defined in the agreement . the credit facility was secured by substantially all of the company 's assets located in the united states , as well as common stock the company owns in certain of its foreign subsidiaries , and was subject to financial covenants , including the following , as defined in the agreement : minimum fixed charge ratio , total leverage ratio and minimum unrestricted cash balance . as of november 3 , 2013 , the company was in compliance with the covenants of its credit facility , had no outstanding borrowings under the credit facility and $ 30 million was available for borrowing . as discussed above this credit facility was replaced with a new credit facility in december 2013. in june 2013 the company completed a tender offer for shares of psmc . a total of 50.3 million shares were tendered at the offering price of 16.30 ntd , equivalent to a total of $ 27.4 million . psmc , through a series of repurchase programs which commenced in 2011 and ended in 2013 , repurchased shares of its outstanding common stock . these repurchase programs resulted in 9.2 million shares being purchased for $ 4.2 million in 2013 , 35.9 million shares being purchased for $ 15.6 million in 2012 and 21.6 million shares being purchased for $ 9.9 million in 2011. in august 2013 a $ 26.4 million principal amount , five year capital lease to fund the purchase of a high-end lithography tool commenced . payments under the lease , which bears interest at 2.77 % are $ 0.5 million per month through july 2018. under the terms of the lease agreement , the company must maintain the equipment in good working order , and is subject to a cross default with a cross acceleration provision related to certain nonfinancial covenants incorporated in its credit facility . as of november 3 , 2013 , the total amount payable through the end of the lease term was $ 26.8 million , of which $ 25.1 million represented principal and $ 1.7 million represented interest . in april 2011 the company entered into a five year , $ 21.2 million capital lease of manufacturing equipment . payments under the lease , which bears interest at 3.09 % , are $ 0.4 million per month through march 2016. as of november 3 , 2013 , the total lease amount payable through the end of the lease term was $ 11.1 million , of which $ 10.7 million represented principal and $ 0.4 million represented interest . in february 2012 the company paid $ 35 million to micron in connection with the purchase of the u.s. nanofab facility . in connection therewith , the company amended its credit facility to include the addition of a $ 25 million term loan maturing in march 2017 , with minimum quarterly principal payments of $ 0.6 million . in the first quarter of fiscal 2014 the company repaid the $ 21.3 million balance of this term loan that was outstanding at november 3 , 2013. as a result of the purchase of the u.s. nanofab facility , the company 's lease agreement with micron for the u.s. nanofab facility was cancelled , which reduced the company 's related outstanding operating lease commitments by a combined total of $ 15 million for fiscal years 2013 and 2014. the company 's liquidity is highly dependent on its sales volume , cash conversion cycle , and the timing of its capital expenditures ( which can vary significantly from period to period ) , as it operates in a high fixed cost environment . depending on conditions in the semiconductor and fpd markets , the company 's cash flows from operations and current holdings of cash may not be adequate to meet its current and long-term needs for capital expenditures , operations and debt repayments . historically , in certain years , the company has used external financing to fund these needs . due to conditions in the credit markets , some financing instruments used by the company in the past may not be currently available to it . the company continues to evaluate further cost reduction initiatives . however , the company can not assure that additional sources of financing would be available to it on commercially favorable terms , should its cash requirements exceed cash available from operations , existing cash , and cash available under its credit facility . at november 3 , 2013 , the company had outstanding purchase commitments of $ 48 million , which included $ 42 million related to capital expenditures , primarily for investment in high-end ic photomask manufacturing capability . the company intends to finance its capital expenditures with its working capital , cash generated from operations , and , if necessary , with additional borrowings . 26 cash requirements the company 's cash requirements in fiscal 2014 will be primarily to fund its operations , including capital spending , and to service its debt . the company believes that its cash on hand , cash generated from operations and amounts available under its credit facility will be sufficient to meet its cash requirements for the next twelve months . the company regularly reviews the availability and terms on which it might issue additional equity or debt securities in the public or private markets . however , the company can not assure that additional sources of financing would be available to the company on commercially favorable terms , should the company 's cash requirements exceed its cash available from operations , existing cash , and cash available under its credit facility . contractual obligations the following table presents the company 's contractual obligations as of november 3 , 2013 : replace_table_token_11_th in december 2013

liquidity and capital resources replace_table_token_10_th as of november 3 , 2013 , the company had cash and cash equivalents of $ 215.6 million compared to $ 218.0 million as of october 28 , 2012. the company 's working capital decreased $ 20.4 million to $ 213.9 million at november 3 , 2013 , as compared to $ 234.3 million at october 28 , 2012. the decrease in working capital was primarily the result of the purchase of psmc shares and increased payables for capital expenditures . the company may use its cash available on hand for operations , capital expenditures , debt repayments , strategic opportunities , stock repurchases or other corporate uses , any of which may be material . as of october 28 , 2012 , the company had cash and cash equivalents of $ 218.0 million compared to $ 189.9 million as of october 30 , 2011. the company 's working capital increased $ 25.0 million to $ 234.3 million at october 28 , 2012 , as compared to $ 209.3 million at october 30 , 2011. the increase in working capital was primarily the result of cash generated from operations . as of november 3 , 2013 and october 28 , 2012 , the company 's total cash and cash equivalents include $ 165.7 million and $ 158.2 million , respectively , held by its foreign subsidiaries . the majority of earnings of the company 's foreign subsidiaries are considered to be indefinitely reinvested . the company 's foreign subsidiaries continue to grow through the reinvestment of earnings in additional manufacturing capacity and capability , particularly in the high-end ic and fpd areas . repatriation of these funds to the u.s. may subject these funds to u.s. federal income taxes and local country withholding tax in certain jurisdictions .


 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 replace_table_token_10_th as of november 3 , 2013 , the company had cash and cash equivalents of $ 215.6 million compared to $ 218.0 million as of october 28 , 2012. the company 's working capital decreased $ 20.4 million to $ 213.9 million at november 3 , 2013 , as compared to $ 234.3 million at october 28 , 2012. the decrease in working capital was primarily the result of the purchase of psmc shares and increased payables for capital expenditures . the company may use its cash available on hand for operations , capital expenditures , debt repayments , strategic opportunities , stock repurchases or other corporate uses , any of which may be material . as of october 28 , 2012 , the company had cash and cash equivalents of $ 218.0 million compared to $ 189.9 million as of october 30 , 2011. the company 's working capital increased $ 25.0 million to $ 234.3 million at october 28 , 2012 , as compared to $ 209.3 million at october 30 , 2011. the increase in working capital was primarily the result of cash generated from operations . as of november 3 , 2013 and october 28 , 2012 , the company 's total cash and cash equivalents include $ 165.7 million and $ 158.2 million , respectively , held by its foreign subsidiaries . the majority of earnings of the company 's foreign subsidiaries are considered to be indefinitely reinvested . the company 's foreign subsidiaries continue to grow through the reinvestment of earnings in additional manufacturing capacity and capability , particularly in the high-end ic and fpd areas . repatriation of these funds to the u.s. may subject these funds to u.s. federal income taxes and local country withholding tax in certain jurisdictions .
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 Suspicious Activity Report : the photomask industry has been , and is expected to continue to be , characterized by technological change and evolving industry standards . in order to remain competitive , the company will be required to continually anticipate , respond to , and utilize changing technologies . in particular , the company believes that , as semiconductor geometries continue to become smaller , it will be required to manufacture even more complex optically-enhanced reticles , including optical proximity correction and phase-shift photomasks . additionally , demand for photomasks has been , and could in the future be , adversely affected by changes in semiconductor and high performance electronics fabrication methods that affect the type or quantity of photomasks used , such as changes in semiconductor demand that favor field-programmable gate arrays and other semiconductor designs that replace application-specific ics . furthermore , increased market acceptance of alternative methods of transferring circuit designs onto semiconductor wafers could reduce or eliminate the need for photomasks in the production of semiconductors . as of the end of fiscal 2013 , one alternative method , direct-write lithography , has not been proven to be a commercially viable alternative to photomasks , as it is considered too slow for high volume semiconductor wafer production , and the company has not experienced a significant loss of revenue as a result of this or other alternative semiconductor design methodologies . however , should direct-write or any other alternative method of transferring ic designs to semiconductor wafers without the use of photomasks achieve market acceptance , and the company does not anticipate , respond to , or utilize these or other changing technologies due to resource , technological or other constraints , its business and results of operations could be materially adversely affected . both revenues and costs have been affected by the increased demand for high-end technology photomasks that require more advanced manufacturing capabilities , but generally command higher average selling prices ( `` asps `` ) . the company 's capital expenditure payments aggregated approximately $ 243 million for the three fiscal years ended november 3 , 2013 , which has significantly contributed to the company 's operating expenses . the company intends to continue to make the required investments to support the technological demands of its customers and position itself for future growth , and expects capital expenditure payments to be between $ 70 million and $ 90 million in fiscal 2014. the manufacture of photomasks for use in fabricating ics and other related products built using comparable photomask-based process technologies has been , and continues to be , capital intensive . the company 's integrated global manufacturing network , which consists of eight manufacturing sites , and its employees represent a significant portion of its fixed operating cost base . should sales volumes decrease as a result of a decrease in design releases from the company 's customers , the company may have excess or underutilized production capacity that could significantly impact operating margins , or result in write-offs from asset impairments . 18 in the first quarter of fiscal 2014 the company entered an agreement to merge psmc with dnp photomask technology taiwan co. , ltd. , a wholly owned subsidiary of dai nippon printing co. , ltd. ( dnp ) , to form a joint venture which will operate under the name of photronics dnp mask corporation ( pdmc ) . the pending merger , which is a noncash transaction , will result in the company owning 50.01 % and dnp owning 49.99 % of pdmc , whose financial results will be included in the company 's consolidated financial statements . pdmc is expected to generate sufficient cash flows to fund its operating and capital requirements . the merger is subject to regulatory approvals and customary closing conditions , and is expected to be finalized during the first half of fiscal 2014. in the first quarter of fiscal 2014 the company amended its credit facility to a five year $ 50 million credit facility ( the “ new credit facility ” ) with an expansion capacity to $ 75 million , and simultaneously repaid its $ 21.3 million term loan . the new credit facility , which replaced the credit facility in effect at november 3 , 2013 , bears interest based on the company 's total leverage ratio , at libor plus a spread , as defined in the new credit facility . in the fourth quarter of fiscal 2013 a $ 26.4 million principal amount , five year capital lease to fund the purchase of a high-end lithography tool commenced . payments under the lease , which bears interest at 2.77 % are $ 0.5 million per month through july 2018. under the terms of the lease agreement , the company must maintain the equipment in good working order , and is subject to a cross default with a cross acceleration provision related to certain nonfinancial covenants incorporated in its credit facility . as of november 3 , 2013 , the total amount payable through the end of the lease term was $ 26.8 million , of which $ 25.1 million represented principal and $ 1.7 million represented interest . in the third quarter of fiscal 2013 the company completed a tender offer for shares of psmc . a total of 50.3 million shares were tendered at the offering price of 16.30 ntd ( equivalent to a total of $ 27.4 million ) , which increased the company 's ownership interest in psmc from 75.11 % to 98.13 % . in the fourth quarter of fiscal 2013 the company further increased its ownership interest in psmc to 98.63 % with the purchase of an additional 1.1 million shares of psmc for $ 0.7 million . story_separator_special_tag the credit facility bore interest ( 2.69 % at november 3 , 2013 ) , based on the company 's total leverage ratio , at libor plus a spread , as defined in the agreement . the credit facility was secured by substantially all of the company 's assets located in the united states , as well as common stock the company owns in certain of its foreign subsidiaries , and was subject to financial covenants , including the following , as defined in the agreement : minimum fixed charge ratio , total leverage ratio and minimum unrestricted cash balance . as of november 3 , 2013 , the company was in compliance with the covenants of its credit facility , had no outstanding borrowings under the credit facility and $ 30 million was available for borrowing . as discussed above this credit facility was replaced with a new credit facility in december 2013. in june 2013 the company completed a tender offer for shares of psmc . a total of 50.3 million shares were tendered at the offering price of 16.30 ntd , equivalent to a total of $ 27.4 million . psmc , through a series of repurchase programs which commenced in 2011 and ended in 2013 , repurchased shares of its outstanding common stock . these repurchase programs resulted in 9.2 million shares being purchased for $ 4.2 million in 2013 , 35.9 million shares being purchased for $ 15.6 million in 2012 and 21.6 million shares being purchased for $ 9.9 million in 2011. in august 2013 a $ 26.4 million principal amount , five year capital lease to fund the purchase of a high-end lithography tool commenced . payments under the lease , which bears interest at 2.77 % are $ 0.5 million per month through july 2018. under the terms of the lease agreement , the company must maintain the equipment in good working order , and is subject to a cross default with a cross acceleration provision related to certain nonfinancial covenants incorporated in its credit facility . as of november 3 , 2013 , the total amount payable through the end of the lease term was $ 26.8 million , of which $ 25.1 million represented principal and $ 1.7 million represented interest . in april 2011 the company entered into a five year , $ 21.2 million capital lease of manufacturing equipment . payments under the lease , which bears interest at 3.09 % , are $ 0.4 million per month through march 2016. as of november 3 , 2013 , the total lease amount payable through the end of the lease term was $ 11.1 million , of which $ 10.7 million represented principal and $ 0.4 million represented interest . in february 2012 the company paid $ 35 million to micron in connection with the purchase of the u.s. nanofab facility . in connection therewith , the company amended its credit facility to include the addition of a $ 25 million term loan maturing in march 2017 , with minimum quarterly principal payments of $ 0.6 million . in the first quarter of fiscal 2014 the company repaid the $ 21.3 million balance of this term loan that was outstanding at november 3 , 2013. as a result of the purchase of the u.s. nanofab facility , the company 's lease agreement with micron for the u.s. nanofab facility was cancelled , which reduced the company 's related outstanding operating lease commitments by a combined total of $ 15 million for fiscal years 2013 and 2014. the company 's liquidity is highly dependent on its sales volume , cash conversion cycle , and the timing of its capital expenditures ( which can vary significantly from period to period ) , as it operates in a high fixed cost environment . depending on conditions in the semiconductor and fpd markets , the company 's cash flows from operations and current holdings of cash may not be adequate to meet its current and long-term needs for capital expenditures , operations and debt repayments . historically , in certain years , the company has used external financing to fund these needs . due to conditions in the credit markets , some financing instruments used by the company in the past may not be currently available to it . the company continues to evaluate further cost reduction initiatives . however , the company can not assure that additional sources of financing would be available to it on commercially favorable terms , should its cash requirements exceed cash available from operations , existing cash , and cash available under its credit facility . at november 3 , 2013 , the company had outstanding purchase commitments of $ 48 million , which included $ 42 million related to capital expenditures , primarily for investment in high-end ic photomask manufacturing capability . the company intends to finance its capital expenditures with its working capital , cash generated from operations , and , if necessary , with additional borrowings . 26 cash requirements the company 's cash requirements in fiscal 2014 will be primarily to fund its operations , including capital spending , and to service its debt . the company believes that its cash on hand , cash generated from operations and amounts available under its credit facility will be sufficient to meet its cash requirements for the next twelve months . the company regularly reviews the availability and terms on which it might issue additional equity or debt securities in the public or private markets . however , the company can not assure that additional sources of financing would be available to the company on commercially favorable terms , should the company 's cash requirements exceed its cash available from operations , existing cash , and cash available under its credit facility . contractual obligations the following table presents the company 's contractual obligations as of november 3 , 2013 : replace_table_token_11_th in december 2013

