million under our amended and restated $ 1.35 billion revolving credit facility ( the ryerson credit facility ) as part of the funding of these transactions . industry and operating trends we purchase large quantities of metal products from primary producers and sell these materials in smaller quantities to a wide variety of metals-consuming industries . more than one-half of the metals products sold are processed by us by burning , sawing , slitting , blanking , cutting to length or other techniques . we sell our products and services to many industries , including industrial equipment manufacturing , industrial fabrication , electrical machinery production , transportation equipment manufacturing , heavy equipment manufacturing and oil and gas . revenue is recognized upon delivery of product to customers . the timing of shipment is substantially the same as the timing of delivery to customers given the proximity of our distribution sites to our customers . 27 sales , cost of materials sold , gross profit and operating expense control are the principal factors that impact our profitability : net sales . our sales volume and pricing is driven by market demand , which is largely determined by overall industrial production and conditions in specific industries in which our customers operate . sales prices are also primarily driven by market factors such as overall demand and availability of product . our net sales include revenue from product sales , net of returns , allowances , customer discounts and incentives . cost of materials sold . cost of materials sold includes metal purchase and in-bound freight costs , third-party processing costs and direct and indirect internal processing costs . the cost of materials sold fluctuates with our sales volume and our ability to purchase metals at competitive prices . increases in sales volume generally enable us both to improve purchasing leverage with suppliers , as we buy larger quantities of metals inventories , and to reduce operating expenses per ton sold . gross profit . gross profit is the difference between net sales and the cost of materials sold . our sales prices to our customers are subject to market competition . achieving acceptable levels of gross profit is dependent on our acquiring metals at competitive prices , our ability to manage the impact of changing prices and efficiently managing our internal and external processing costs . operating expenses . optimizing business processes and asset utilization to lower fixed expenses such as employee , facility and truck fleet costs which can not be rapidly reduced in times of declining volume , and maintaining low fixed cost structure in times of increasing sales volume , have a significant impact on our profitability . operating expenses include costs related to warehousing and distributing our products as well as selling , general and administrative expenses . the metals service center industry is generally considered cyclical with periods of strong demand and higher prices followed by periods of weaker demand and lower prices due to the cyclical nature of the industries in which the largest consumers of metals operate . however , domestic metals prices are volatile and remain difficult to predict due to its commodity nature and the extent which prices are affected by interest rates , foreign exchange rates , energy prices , international supply/demand imbalances , surcharges and other factors . 28 results of operations replace_table_token_9_th comparison of the year ended december 31 , 2014 with the year ended december 31 , 2013 net sales net sales increased 4.7 % to $ 3.6 billion in 2014 as compared to $ 3.5 billion in 2013. average selling price increased 5.4 % while tons sold decreased 0.7 % reflecting stable economic conditions in the metals market in 2014 compared to 2013. the average selling price per ton increased in 2014 to $ 1,790 from $ 1,698 in 2013. average selling prices per ton increased for most of our product lines in 2014 with the largest increase in our stainless steel plate , carbon steel plate and carbon steel flat product lines . tons sold in 2014 decreased for our carbon steel flat and aluminum long product lines , offset by increased tons sold for our aluminum sheet and aluminum plate product lines . tons sold per ship day were 8,032 in 2014 as compared to 8,087 in 2013. cost of materials sold cost of materials sold increased 6.5 % to $ 3.0 billion in 2014 compared to $ 2.8 billion in 2013. the increase in cost of materials sold in 2014 compared to 2013 was primarily due to an increase in the average cost of materials sold per ton . the average cost of materials sold per ton increased to $ 1,497 in 2014 from $ 1,396 in 2013. the average cost of materials sold for our carbon steel flat , carbon steel plate and stainless steel flat product lines increased more than our other products , in line with the change in average selling price per ton . during 2014 , lifo expense was $ 42 million related to increases in pricing for all product lines . during 2013 , lifo income was $ 33 million related to decreases in pricing for all product lines . 29 gross profit gross profit as a percentage of sales decreased to 16.4 % in 2014 compared to 17.8 % in 2013 due to , among other things , an increase in cost of materials sold , as discussed above . story_separator_special_tag on december 17 , 2014 , ryerson inc. merged with and into jt ryerson , with jt ryerson as the surviving corporation . jt ryerson assumed all debts , obligations , and liabilities of ryerson , including all obligations and liabilities of ryerson with respect to the 2017 and 2018 notes . the 2017 notes bear interest at a rate of 9 % per annum . the 2018 notes bear interest at a rate of 11.25 % per annum . the 2017 notes are fully and unconditionally guaranteed on a senior secured basis and the 2018 notes are fully and unconditionally guaranteed on a senior unsecured basis by all of our existing and future domestic subsidiaries that are co-borrowers or guarantee obligations under the ryerson credit facility . the 2017 notes and related guarantees are secured by a first-priority lien on substantially all of our and our guarantors ' present and future assets located in the united states ( other than receivables , inventory , related general intangibles , certain other assets and proceeds thereof ) , subject to certain exceptions and customary permitted liens . the 2017 notes and related guarantees are secured on a second-priority basis by a lien on the assets that secure our obligations under the ryerson credit facility . the 2018 notes are not secured . the 2017 and 2018 notes contain customary covenants that , among other things , limit , subject to certain exceptions , our ability , and the ability of our restricted subsidiaries , to incur additional indebtedness , pay dividends on our capital stock or repurchase our capital stock , make investments , sell assets , engage in acquisitions , mergers or consolidations or create liens or use assets as security in other transactions . subject to certain exceptions , jt ryerson may only pay dividends to ryerson holding to the extent of 50 % of future net income , once prior losses are offset . the 2017 notes will become redeemable by the company , in whole or in part , at any time on or after april 15 , 2015 ( the 2017 redemption date ) and the 2018 notes will become redeemable , in whole or in part , at any time on or after october 15 , 2015 ( the 2018 redemption date ) , in each case at specified redemption prices . the 2017 and 2018 notes are redeemable prior to such dates , as applicable , at a redemption price equal to 100 % of the principal amount , together with accrued and unpaid interest , if any , to the redemption date , plus a make-whole premium . additionally , we may redeem up to 35 % of each of the 2017 and 2018 notes prior to the 2017 redemption date or 2018 redemption date , as applicable , with net cash proceeds from certain equity offerings at a price equal to ( a ) 109.000 % , with respect to the 2017 notes and ( b ) 111.250 % , with respect to the 2018 notes , of the principal amount thereof , plus any accrued and unpaid interest . on august 13 , 2014 , ryerson holding completed an initial public offering of 11 million shares of common stock at a price to the public of $ 11.00 per share . net proceeds from the offering were used to redeem $ 99.5 million in aggregate principal amount of the 2018 notes and pay redemption premiums of $ 11.2 million , which were recorded within other income and ( expense ) , net . as of december 31 , 2014 , $ 200.5 million of the original outstanding principal amount of the 2018 notes remain outstanding . if a change of control occurs , jt ryerson must offer to purchase the 2017 and 2018 notes at 101 % of their principal amount , plus accrued and unpaid interest . pursuant to registration rights agreements relating to the 2017 and 2018 notes , we agreed to file with the sec by july 7 , 2013 , registration statements with respect to offers to exchange each of the 2017 and 2018 notes for new issues of our debt securities registered under the securities act , with terms substantially identical to those of the 2017 and 2018 notes and to consummate such exchange offers no later than october 5 , 2013. ryerson completed the exchange offer on september 10 , 2013. as a result of completing the exchange offer , ryerson satisfied its obligation under the registration rights agreements covering each of the 2017 and 2018 notes . 35 ryerson holding notes as of november 1 , 2012 , all of the ryerson holding notes were repurchased or redeemed and cancelled . the company recorded a $ 15.6 million loss on the repurchase and cancellation of debt related to the ryerson holding notes within other income and ( expense ) , net on the consolidated statements of operations . 2014 and 2015 notes as of november 1 , 2012 , all of the ryerson notes were repurchased or redeemed and cancelled . the company recorded a $ 17.2 million loss on the repurchase and cancellation of debt related to the ryerson notes within other income and ( expense ) , net on the consolidated statements of operations . foreign debt at december 31 , 2014 , ryerson china 's total foreign borrowings were $ 23.6 million , which were owed to banks in asia at a weighted average interest rate of 4.4 % and secured by inventory and property , plant and equipment . at december 31 , 2013 , ryerson china 's total foreign borrowings were $ 25.7 million , which were owed to banks in asia at a weighted average interest rate of 4.3 % and secured by inventory and property , plant and equipment . availability under the foreign credit lines was $ 12 million and $ 22 million at december 31

liquidity and capital resources the company 's primary sources of liquidity are cash and cash equivalents , cash flows from operations and borrowing availability under the $ 1.35 billion revolving credit facility agreement ( as amended and restated , the ryerson credit facility ) that matures on the earlier of ( a ) april 3 , 2018 or ( b ) august 16 , 2017 ( 60 days prior to the scheduled maturity date of the 2017 notes ) , if the 2017 notes are then outstanding . its principal source of operating cash is from the sale of metals and other materials . its principal uses of cash are for payments associated with the procurement and processing of metals and other materials inventories , costs incurred for the warehousing and delivery of inventories and the selling and administrative costs of the business , capital expenditures , and for interest payments on debt . the following table summarizes the company 's cash flows : replace_table_token_10_th the company had cash and cash equivalents at december 31 , 2014 of $ 60.0 million , compared to $ 74.4 million at december 31 , 2013 and $ 71.2 million at december 31 , 2012. the company had $ 1,259 million , $ 1,295 million and $ 1,305 million of total debt outstanding , a debt-to-capitalization ratio of 111 % , 109 % and 129 % and $ 245 million , $ 234 million and $ 293 million available under the ryerson credit facility at december 31 , 2014 , 2013 and 2012 , respectively . the company had total liquidity ( defined as cash and cash equivalents , marketable securities and availability under the ryerson credit facility and foreign debt facilities ) of $ 328 million , $ 351 million and $ 406 million at december 31 , 2014 , 2013 and 2012 , respectively . total liquidity is not a u.s. generally accepted accounting principles ( gaap ) financial measure . we believe that total liquidity provides additional information for measuring our ability to fund our operations .


 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 the company 's primary sources of liquidity are cash and cash equivalents , cash flows from operations and borrowing availability under the $ 1.35 billion revolving credit facility agreement ( as amended and restated , the ryerson credit facility ) that matures on the earlier of ( a ) april 3 , 2018 or ( b ) august 16 , 2017 ( 60 days prior to the scheduled maturity date of the 2017 notes ) , if the 2017 notes are then outstanding . its principal source of operating cash is from the sale of metals and other materials . its principal uses of cash are for payments associated with the procurement and processing of metals and other materials inventories , costs incurred for the warehousing and delivery of inventories and the selling and administrative costs of the business , capital expenditures , and for interest payments on debt . the following table summarizes the company 's cash flows : replace_table_token_10_th the company had cash and cash equivalents at december 31 , 2014 of $ 60.0 million , compared to $ 74.4 million at december 31 , 2013 and $ 71.2 million at december 31 , 2012. the company had $ 1,259 million , $ 1,295 million and $ 1,305 million of total debt outstanding , a debt-to-capitalization ratio of 111 % , 109 % and 129 % and $ 245 million , $ 234 million and $ 293 million available under the ryerson credit facility at december 31 , 2014 , 2013 and 2012 , respectively . the company had total liquidity ( defined as cash and cash equivalents , marketable securities and availability under the ryerson credit facility and foreign debt facilities ) of $ 328 million , $ 351 million and $ 406 million at december 31 , 2014 , 2013 and 2012 , respectively . total liquidity is not a u.s. generally accepted accounting principles ( gaap ) financial measure . we believe that total liquidity provides additional information for measuring our ability to fund our operations .
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 Suspicious Activity Report : million under our amended and restated $ 1.35 billion revolving credit facility ( the ryerson credit facility ) as part of the funding of these transactions . industry and operating trends we purchase large quantities of metal products from primary producers and sell these materials in smaller quantities to a wide variety of metals-consuming industries . more than one-half of the metals products sold are processed by us by burning , sawing , slitting , blanking , cutting to length or other techniques . we sell our products and services to many industries , including industrial equipment manufacturing , industrial fabrication , electrical machinery production , transportation equipment manufacturing , heavy equipment manufacturing and oil and gas . revenue is recognized upon delivery of product to customers . the timing of shipment is substantially the same as the timing of delivery to customers given the proximity of our distribution sites to our customers . 27 sales , cost of materials sold , gross profit and operating expense control are the principal factors that impact our profitability : net sales . our sales volume and pricing is driven by market demand , which is largely determined by overall industrial production and conditions in specific industries in which our customers operate . sales prices are also primarily driven by market factors such as overall demand and availability of product . our net sales include revenue from product sales , net of returns , allowances , customer discounts and incentives . cost of materials sold . cost of materials sold includes metal purchase and in-bound freight costs , third-party processing costs and direct and indirect internal processing costs . the cost of materials sold fluctuates with our sales volume and our ability to purchase metals at competitive prices . increases in sales volume generally enable us both to improve purchasing leverage with suppliers , as we buy larger quantities of metals inventories , and to reduce operating expenses per ton sold . gross profit . gross profit is the difference between net sales and the cost of materials sold . our sales prices to our customers are subject to market competition . achieving acceptable levels of gross profit is dependent on our acquiring metals at competitive prices , our ability to manage the impact of changing prices and efficiently managing our internal and external processing costs . operating expenses . optimizing business processes and asset utilization to lower fixed expenses such as employee , facility and truck fleet costs which can not be rapidly reduced in times of declining volume , and maintaining low fixed cost structure in times of increasing sales volume , have a significant impact on our profitability . operating expenses include costs related to warehousing and distributing our products as well as selling , general and administrative expenses . the metals service center industry is generally considered cyclical with periods of strong demand and higher prices followed by periods of weaker demand and lower prices due to the cyclical nature of the industries in which the largest consumers of metals operate . however , domestic metals prices are volatile and remain difficult to predict due to its commodity nature and the extent which prices are affected by interest rates , foreign exchange rates , energy prices , international supply/demand imbalances , surcharges and other factors . 28 results of operations replace_table_token_9_th comparison of the year ended december 31 , 2014 with the year ended december 31 , 2013 net sales net sales increased 4.7 % to $ 3.6 billion in 2014 as compared to $ 3.5 billion in 2013. average selling price increased 5.4 % while tons sold decreased 0.7 % reflecting stable economic conditions in the metals market in 2014 compared to 2013. the average selling price per ton increased in 2014 to $ 1,790 from $ 1,698 in 2013. average selling prices per ton increased for most of our product lines in 2014 with the largest increase in our stainless steel plate , carbon steel plate and carbon steel flat product lines . tons sold in 2014 decreased for our carbon steel flat and aluminum long product lines , offset by increased tons sold for our aluminum sheet and aluminum plate product lines . tons sold per ship day were 8,032 in 2014 as compared to 8,087 in 2013. cost of materials sold cost of materials sold increased 6.5 % to $ 3.0 billion in 2014 compared to $ 2.8 billion in 2013. the increase in cost of materials sold in 2014 compared to 2013 was primarily due to an increase in the average cost of materials sold per ton . the average cost of materials sold per ton increased to $ 1,497 in 2014 from $ 1,396 in 2013. the average cost of materials sold for our carbon steel flat , carbon steel plate and stainless steel flat product lines increased more than our other products , in line with the change in average selling price per ton . during 2014 , lifo expense was $ 42 million related to increases in pricing for all product lines . during 2013 , lifo income was $ 33 million related to decreases in pricing for all product lines . 29 gross profit gross profit as a percentage of sales decreased to 16.4 % in 2014 compared to 17.8 % in 2013 due to , among other things , an increase in cost of materials sold , as discussed above . story_separator_special_tag on december 17 , 2014 , ryerson inc. merged with and into jt ryerson , with jt ryerson as the surviving corporation . jt ryerson assumed all debts , obligations , and liabilities of ryerson , including all obligations and liabilities of ryerson with respect to the 2017 and 2018 notes . the 2017 notes bear interest at a rate of 9 % per annum . the 2018 notes bear interest at a rate of 11.25 % per annum . the 2017 notes are fully and unconditionally guaranteed on a senior secured basis and the 2018 notes are fully and unconditionally guaranteed on a senior unsecured basis by all of our existing and future domestic subsidiaries that are co-borrowers or guarantee obligations under the ryerson credit facility . the 2017 notes and related guarantees are secured by a first-priority lien on substantially all of our and our guarantors ' present and future assets located in the united states ( other than receivables , inventory , related general intangibles , certain other assets and proceeds thereof ) , subject to certain exceptions and customary permitted liens . the 2017 notes and related guarantees are secured on a second-priority basis by a lien on the assets that secure our obligations under the ryerson credit facility . the 2018 notes are not secured . the 2017 and 2018 notes contain customary covenants that , among other things , limit , subject to certain exceptions , our ability , and the ability of our restricted subsidiaries , to incur additional indebtedness , pay dividends on our capital stock or repurchase our capital stock , make investments , sell assets , engage in acquisitions , mergers or consolidations or create liens or use assets as security in other transactions . subject to certain exceptions , jt ryerson may only pay dividends to ryerson holding to the extent of 50 % of future net income , once prior losses are offset . the 2017 notes will become redeemable by the company , in whole or in part , at any time on or after april 15 , 2015 ( the 2017 redemption date ) and the 2018 notes will become redeemable , in whole or in part , at any time on or after october 15 , 2015 ( the 2018 redemption date ) , in each case at specified redemption prices . the 2017 and 2018 notes are redeemable prior to such dates , as applicable , at a redemption price equal to 100 % of the principal amount , together with accrued and unpaid interest , if any , to the redemption date , plus a make-whole premium . additionally , we may redeem up to 35 % of each of the 2017 and 2018 notes prior to the 2017 redemption date or 2018 redemption date , as applicable , with net cash proceeds from certain equity offerings at a price equal to ( a ) 109.000 % , with respect to the 2017 notes and ( b ) 111.250 % , with respect to the 2018 notes , of the principal amount thereof , plus any accrued and unpaid interest . on august 13 , 2014 , ryerson holding completed an initial public offering of 11 million shares of common stock at a price to the public of $ 11.00 per share . net proceeds from the offering were used to redeem $ 99.5 million in aggregate principal amount of the 2018 notes and pay redemption premiums of $ 11.2 million , which were recorded within other income and ( expense ) , net . as of december 31 , 2014 , $ 200.5 million of the original outstanding principal amount of the 2018 notes remain outstanding . if a change of control occurs , jt ryerson must offer to purchase the 2017 and 2018 notes at 101 % of their principal amount , plus accrued and unpaid interest . pursuant to registration rights agreements relating to the 2017 and 2018 notes , we agreed to file with the sec by july 7 , 2013 , registration statements with respect to offers to exchange each of the 2017 and 2018 notes for new issues of our debt securities registered under the securities act , with terms substantially identical to those of the 2017 and 2018 notes and to consummate such exchange offers no later than october 5 , 2013. ryerson completed the exchange offer on september 10 , 2013. as a result of completing the exchange offer , ryerson satisfied its obligation under the registration rights agreements covering each of the 2017 and 2018 notes . 35 ryerson holding notes as of november 1 , 2012 , all of the ryerson holding notes were repurchased or redeemed and cancelled . the company recorded a $ 15.6 million loss on the repurchase and cancellation of debt related to the ryerson holding notes within other income and ( expense ) , net on the consolidated statements of operations . 2014 and 2015 notes as of november 1 , 2012 , all of the ryerson notes were repurchased or redeemed and cancelled . the company recorded a $ 17.2 million loss on the repurchase and cancellation of debt related to the ryerson notes within other income and ( expense ) , net on the consolidated statements of operations . foreign debt at december 31 , 2014 , ryerson china 's total foreign borrowings were $ 23.6 million , which were owed to banks in asia at a weighted average interest rate of 4.4 % and secured by inventory and property , plant and equipment . at december 31 , 2013 , ryerson china 's total foreign borrowings were $ 25.7 million , which were owed to banks in asia at a weighted average interest rate of 4.3 % and secured by inventory and property , plant and equipment . availability under the foreign credit lines was $ 12 million and $ 22 million at december 31

