summary of the year ended december 31 , 2014 · net sales for 2014 increased approximately 8 % to $ 891 million , compared to $ 827 million in 2013 ; · gross profit for 2014 was $ 277 million , or 31.1 % of net sales , an increase of 17 % from the $ 238 million , or 28.8 % of net sales , in 2013. bcd 's margins improved from 2013 to 2014 but still negatively impacted our total gross margin by approximately 160 basis points , as compared to approximately 120 basis points in 2013 ; · selling , general and administrative expenses , as a percentage of net sales , decreased 100 basis points to 15.0 % for 2014 compared to 16.0 % for 2013 : · net income attributable to common stockholders for 2014 was $ 64 million , or $ 1.31 per diluted share , an increase of 140 % from the $ 27 million , or $ 0.56 per diluted share , in 2013 ; and · cash flow from operations for 2014 was $ 134 million , an increase of 22 % from the $ 110 million generated in 2013. business acquisitions in the fourth quarter of 2015 , we completed the acquisition of pericom for aggregate consideration of approximately $ 403.2 million , excluding acquisition costs , fees and expenses . the cash portion of the acquisition price was funded by borrowings under our bank credit facilities and use of existing cash . pericom 's financial results have been included in our consolidated financial statements from november 24 , 2015. in the first quarter of 2013 , we completed the acquisition of bcd for an aggregate consideration of approximately $ 155 million , excluding acquisition costs , fees and expenses , plus a $ 5 million employee retention plan . business outlook looking forward , we remain focused on achieving our goal of $ 1 billion in annual revenue with model gross margins of 35 % . acquisitions remain a key part of our growth strategy to reach our revenue goal . we have a solid pipeline of designs and expanded customer relationships across all regions and product lines . the success of our business depends on , among other factors , the strength of the global economy and the stability of the financial markets , our customers ' demand for our products , the ability of our customers to meet their payment obligations , the likelihood of customers not canceling or deferring existing orders , and the strength of consumers ' demand for items containing our products in the end-markets we serve . we believe the long-term outlook for our business remains generally favorable despite the uncertainties in the global economy as we continue to execute on the strategy that has proven successful for us over the years . see “ risk factors – the success of our business depends on the strength of the global economy and - 33 - the stability of the financial markets , and any weaknesses in these areas may have a material adverse effect on our net sales , operating results and financial condition . ” in part i , item 1a of this annual report for additional information . factors relevant to our results of operations in 2015 , the following factors affected , and , we believe , will continue to affect , our results of operations : · we continue to experience pressure from our customers to reduce the selling price for our products , and we expect future improvements in net income to result primarily from increases in sales volume and improvements in product mix , as well as manufacturing cost reductions in order to offset any reduction in average selling prices of our products . · for the years ended december 31 , 2015 , 2014 and 2013 , our original equipment manufacturer ( “ oem ” ) and electronic manufacturing services ( “ ems ” ) customers together accounted for 33 % , 33 % and 37 % of net sales , respectively , while our global network of distributors accounted for 67 % , 67 % and 63 % of net sales , respectively . · our gross profit margin was 29.3 % in 2015 , compared to 31.1 % in 2014 and 28.8 % in 2013. the decline in gross profit margin in 2015 was due to lower capacity utilization , product mix and pricing . future gross profit margins will depend primarily on market prices , our product mix , manufacturing cost savings , and the demand for our products . · for 2015 , the percentage of our net sales derived from our asian subsidiaries was 80 % , compared to 80 % in 2014 and 82 % in 2013. europe accounted for approximately 11 % , 10 % and 9 % of our net sales in 2015 , 2014 and 2013 , respectively . in addition , north america accounted for approximately 9 % , 10 % and 9 % of our net sales in 2015 , 2014 and 2013 , respectively . · for 2015 , our capital expenditures were approximately 16.2 % of net sales , which is higher than our previous 5 % to 9 % of net sales model . the increase in 2015 was primarily due to the chengdu , china site expansion . the chengdu , china site expansion is a long-term , multi-year project that will provide us additional capacity as needed . · during 2015 , we invested approximately $ 133 million in our manufacturing and wafer fabrication facilities in china , and we expect to continue to invest in our facilities , although the amount to be invested will depend on product demand and new product developments . story_separator_special_tag contractual obligations the following table represents our contractual obligations as of december 31 , 2015 ( in thousands ) : replace_table_token_15_th ( 1 ) interest on long-term debt assumes there is no change in long-term debt from the balance outstanding as of december 31 , 2015 , other than required principal payments . the revolver and term loan mature in january 2018 . - 41 - tax liabilities are not included in the above contractual ob ligations as we can not make reasonable estimates of the amount and period in which those tax liabilities would be paid . see “ accounting for income taxes ” below and note 10 of “ notes to consolidated financial statements ” of this annual report for additional information . critical accounting policies and estimates the preparation of financial statements in conformity with u.s. gaap requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period . on an on-going basis , we evaluate our estimates , which are based upon historical experiences , market trends and financial forecasts and projections , and upon various other assumptions that management believes to be reasonable under the circumstances at that certain point in time . actual results may differ , significantly at times , from these estimates under different assumptions or conditions . we believe the following critical accounting policies and estimates affect the significant estimates and judgments we use in the preparation of our consolidated financial statements , and may involve a higher degree of judgment and complexity than others . revenue recognition net sales ( revenue ) are recognized when there is persuasive evidence that an arrangement exists , when delivery has occurred , when the price to the buyer is fixed or determinable and when collectability of the receivable is reasonably assured . these elements are met when title to the products is passed to the buyer , which is generally when product is shipped to the customer or when product is delivered to the customer . generally , we recognize net sales upon shipment to manufacturers ( direct ship ) as well as upon sales to distributors using the “ sell in ” model , which is when product is shipped to the distributors ( point of purchase ) . certain customers have limited rights of return or are entitled to price adjustments on products held in their inventory or upon sale to their end customers . we reduce net sales in the period of sale for estimates of product returns , distributor price adjustments and other allowances . our reserve estimates are based upon historical data as well as projections of sales , distributor inventories , price adjustments , average selling prices and market conditions . actual returns and adjustments could be significantly different from our estimates and provisions , resulting in an adjustment to net sales . we record allowances/reserves for the following items : ( i ) ship and debit , which arise when we , from time to time based on market conditions , issue credit to certain distributors upon their shipments to their end customers ; ( ii ) stock rotation , which are contractual obligations that permit certain distributors , up to four times a year , to return a portion of their inventory based on historical shipments to them in exchange for an equal and offsetting order ; and ( iii ) price protection , which arise when market conditions cause average selling prices to decrease and we issue credit to certain distributors on their inventory . ship and debit reserves are recorded as a reduction to net sales with a corresponding reduction to accounts receivable . stock rotation reserves are recorded as a reduction to net sales with a corresponding reduction to cost of goods sold for the estimated cost of inventory that is expected to be returned . price protection reserves are recorded as a reduction to net sales with a corresponding increase in accrued liabilities . inventories inventories are stated at the lower of cost or market value . cost is determined principally by the first-in , first-out method . on an on-going basis , we evaluate our inventory for obsolescence and slow-moving items . this evaluation includes analysis of sales levels , sales projections , and purchases by item , as well as raw material usage related to our manufacturing facilities . if our review indicates a reduction in utility below carrying value , we reduce our inventory to a new cost basis . if future demand or market conditions are different than our current estimates , an inventory adjustment may be required , and would be reflected in cost of goods sold in the period the revision is made . accounting for income taxes as part of the process of preparing our consolidated financial statements , we are required to estimate our income taxes in each of the tax jurisdictions in which we operate . this process involves using an asset and liability approach whereby deferred tax assets and liabilities are recorded for differences in the financial reporting bases and tax bases of our assets and liabilities . a valuation allowance is provided against deferred tax assets unless it is more likely than not that such deferred tax assets will be realized . this analysis requires considerable judgment and is subject to change to reflect future events and changes in the tax laws . the benefit of a tax position is recognized only if it is more likely than not that the tax position would be sustained based on its technical merits in a tax examination , using the presumption the tax authority has full knowledge of all relevant facts regarding the - 42 - position . the amount of benefit recognized is the largest amount of tax benefit

liquidity and capital resources our primary sources of liquidity are cash and cash equivalents , funds from operations and , if necessary , borrowings under our credit facilities . on september 2 , 2015 , the company and diodes international b.v. ( the “ foreign borrower ” and , collectively with the company , the “ borrowers ” ) , and certain subsidiaries of the company as guarantors , entered into an amendment no . 3 to credit agreement , incremental term assumption agreement , limited waiver and consent ( the “ amendment ” ) with bank of america , n.a. , as administrative agent , and the lenders party to the amendment ( collectively , the “ lenders ” ) , which amends the credit agreement dated january 8 , 2013 ( as previously amended by amendment no . 1 to credit agreement and limited waiver dated as of november 1 , 2013 and amendment no . 2 to credit agreement and amendment no . 1 to collateral agreement dated as of june 19 , 2015 ) ( as previously amended and as amended by the amendment , the “ credit agreement ” ) . the amendment provided the company with a $ 400 million revolving senior credit facility ( the “ revolver ” ) , which includes a $ 10 million swing line sublimit , a $ 10 million letter of credit sublimit , and a $ 20 million alternative currency sublimit , and a $ 100 million term loan facility ( the “ term loan facility ” ) . we may from time to time request additional increases in the aggregate commitments under the credit agreement of up to $ 200 million , subject to the lenders electing to increase their commitments or by means of the addition of new lenders , and subject to at least half of each increase in aggregate commitments being in the form of term loans , with the remaining amount of each increase being an increase in the amount of the revolver . the revolver and the term loan both mature on january 8 , 2018 , and as of december 31 , 2015 , $ 464.5 million was outstanding .


 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 our primary sources of liquidity are cash and cash equivalents , funds from operations and , if necessary , borrowings under our credit facilities . on september 2 , 2015 , the company and diodes international b.v. ( the “ foreign borrower ” and , collectively with the company , the “ borrowers ” ) , and certain subsidiaries of the company as guarantors , entered into an amendment no . 3 to credit agreement , incremental term assumption agreement , limited waiver and consent ( the “ amendment ” ) with bank of america , n.a. , as administrative agent , and the lenders party to the amendment ( collectively , the “ lenders ” ) , which amends the credit agreement dated january 8 , 2013 ( as previously amended by amendment no . 1 to credit agreement and limited waiver dated as of november 1 , 2013 and amendment no . 2 to credit agreement and amendment no . 1 to collateral agreement dated as of june 19 , 2015 ) ( as previously amended and as amended by the amendment , the “ credit agreement ” ) . the amendment provided the company with a $ 400 million revolving senior credit facility ( the “ revolver ” ) , which includes a $ 10 million swing line sublimit , a $ 10 million letter of credit sublimit , and a $ 20 million alternative currency sublimit , and a $ 100 million term loan facility ( the “ term loan facility ” ) . we may from time to time request additional increases in the aggregate commitments under the credit agreement of up to $ 200 million , subject to the lenders electing to increase their commitments or by means of the addition of new lenders , and subject to at least half of each increase in aggregate commitments being in the form of term loans , with the remaining amount of each increase being an increase in the amount of the revolver . the revolver and the term loan both mature on january 8 , 2018 , and as of december 31 , 2015 , $ 464.5 million was outstanding .
```    
 Suspicious Activity Report : summary of the year ended december 31 , 2014 · net sales for 2014 increased approximately 8 % to $ 891 million , compared to $ 827 million in 2013 ; · gross profit for 2014 was $ 277 million , or 31.1 % of net sales , an increase of 17 % from the $ 238 million , or 28.8 % of net sales , in 2013. bcd 's margins improved from 2013 to 2014 but still negatively impacted our total gross margin by approximately 160 basis points , as compared to approximately 120 basis points in 2013 ; · selling , general and administrative expenses , as a percentage of net sales , decreased 100 basis points to 15.0 % for 2014 compared to 16.0 % for 2013 : · net income attributable to common stockholders for 2014 was $ 64 million , or $ 1.31 per diluted share , an increase of 140 % from the $ 27 million , or $ 0.56 per diluted share , in 2013 ; and · cash flow from operations for 2014 was $ 134 million , an increase of 22 % from the $ 110 million generated in 2013. business acquisitions in the fourth quarter of 2015 , we completed the acquisition of pericom for aggregate consideration of approximately $ 403.2 million , excluding acquisition costs , fees and expenses . the cash portion of the acquisition price was funded by borrowings under our bank credit facilities and use of existing cash . pericom 's financial results have been included in our consolidated financial statements from november 24 , 2015. in the first quarter of 2013 , we completed the acquisition of bcd for an aggregate consideration of approximately $ 155 million , excluding acquisition costs , fees and expenses , plus a $ 5 million employee retention plan . business outlook looking forward , we remain focused on achieving our goal of $ 1 billion in annual revenue with model gross margins of 35 % . acquisitions remain a key part of our growth strategy to reach our revenue goal . we have a solid pipeline of designs and expanded customer relationships across all regions and product lines . the success of our business depends on , among other factors , the strength of the global economy and the stability of the financial markets , our customers ' demand for our products , the ability of our customers to meet their payment obligations , the likelihood of customers not canceling or deferring existing orders , and the strength of consumers ' demand for items containing our products in the end-markets we serve . we believe the long-term outlook for our business remains generally favorable despite the uncertainties in the global economy as we continue to execute on the strategy that has proven successful for us over the years . see “ risk factors – the success of our business depends on the strength of the global economy and - 33 - the stability of the financial markets , and any weaknesses in these areas may have a material adverse effect on our net sales , operating results and financial condition . ” in part i , item 1a of this annual report for additional information . factors relevant to our results of operations in 2015 , the following factors affected , and , we believe , will continue to affect , our results of operations : · we continue to experience pressure from our customers to reduce the selling price for our products , and we expect future improvements in net income to result primarily from increases in sales volume and improvements in product mix , as well as manufacturing cost reductions in order to offset any reduction in average selling prices of our products . · for the years ended december 31 , 2015 , 2014 and 2013 , our original equipment manufacturer ( “ oem ” ) and electronic manufacturing services ( “ ems ” ) customers together accounted for 33 % , 33 % and 37 % of net sales , respectively , while our global network of distributors accounted for 67 % , 67 % and 63 % of net sales , respectively . · our gross profit margin was 29.3 % in 2015 , compared to 31.1 % in 2014 and 28.8 % in 2013. the decline in gross profit margin in 2015 was due to lower capacity utilization , product mix and pricing . future gross profit margins will depend primarily on market prices , our product mix , manufacturing cost savings , and the demand for our products . · for 2015 , the percentage of our net sales derived from our asian subsidiaries was 80 % , compared to 80 % in 2014 and 82 % in 2013. europe accounted for approximately 11 % , 10 % and 9 % of our net sales in 2015 , 2014 and 2013 , respectively . in addition , north america accounted for approximately 9 % , 10 % and 9 % of our net sales in 2015 , 2014 and 2013 , respectively . · for 2015 , our capital expenditures were approximately 16.2 % of net sales , which is higher than our previous 5 % to 9 % of net sales model . the increase in 2015 was primarily due to the chengdu , china site expansion . the chengdu , china site expansion is a long-term , multi-year project that will provide us additional capacity as needed . · during 2015 , we invested approximately $ 133 million in our manufacturing and wafer fabrication facilities in china , and we expect to continue to invest in our facilities , although the amount to be invested will depend on product demand and new product developments . story_separator_special_tag contractual obligations the following table represents our contractual obligations as of december 31 , 2015 ( in thousands ) : replace_table_token_15_th ( 1 ) interest on long-term debt assumes there is no change in long-term debt from the balance outstanding as of december 31 , 2015 , other than required principal payments . the revolver and term loan mature in january 2018 . - 41 - tax liabilities are not included in the above contractual ob ligations as we can not make reasonable estimates of the amount and period in which those tax liabilities would be paid . see “ accounting for income taxes ” below and note 10 of “ notes to consolidated financial statements ” of this annual report for additional information . critical accounting policies and estimates the preparation of financial statements in conformity with u.s. gaap requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period . on an on-going basis , we evaluate our estimates , which are based upon historical experiences , market trends and financial forecasts and projections , and upon various other assumptions that management believes to be reasonable under the circumstances at that certain point in time . actual results may differ , significantly at times , from these estimates under different assumptions or conditions . we believe the following critical accounting policies and estimates affect the significant estimates and judgments we use in the preparation of our consolidated financial statements , and may involve a higher degree of judgment and complexity than others . revenue recognition net sales ( revenue ) are recognized when there is persuasive evidence that an arrangement exists , when delivery has occurred , when the price to the buyer is fixed or determinable and when collectability of the receivable is reasonably assured . these elements are met when title to the products is passed to the buyer , which is generally when product is shipped to the customer or when product is delivered to the customer . generally , we recognize net sales upon shipment to manufacturers ( direct ship ) as well as upon sales to distributors using the “ sell in ” model , which is when product is shipped to the distributors ( point of purchase ) . certain customers have limited rights of return or are entitled to price adjustments on products held in their inventory or upon sale to their end customers . we reduce net sales in the period of sale for estimates of product returns , distributor price adjustments and other allowances . our reserve estimates are based upon historical data as well as projections of sales , distributor inventories , price adjustments , average selling prices and market conditions . actual returns and adjustments could be significantly different from our estimates and provisions , resulting in an adjustment to net sales . we record allowances/reserves for the following items : ( i ) ship and debit , which arise when we , from time to time based on market conditions , issue credit to certain distributors upon their shipments to their end customers ; ( ii ) stock rotation , which are contractual obligations that permit certain distributors , up to four times a year , to return a portion of their inventory based on historical shipments to them in exchange for an equal and offsetting order ; and ( iii ) price protection , which arise when market conditions cause average selling prices to decrease and we issue credit to certain distributors on their inventory . ship and debit reserves are recorded as a reduction to net sales with a corresponding reduction to accounts receivable . stock rotation reserves are recorded as a reduction to net sales with a corresponding reduction to cost of goods sold for the estimated cost of inventory that is expected to be returned . price protection reserves are recorded as a reduction to net sales with a corresponding increase in accrued liabilities . inventories inventories are stated at the lower of cost or market value . cost is determined principally by the first-in , first-out method . on an on-going basis , we evaluate our inventory for obsolescence and slow-moving items . this evaluation includes analysis of sales levels , sales projections , and purchases by item , as well as raw material usage related to our manufacturing facilities . if our review indicates a reduction in utility below carrying value , we reduce our inventory to a new cost basis . if future demand or market conditions are different than our current estimates , an inventory adjustment may be required , and would be reflected in cost of goods sold in the period the revision is made . accounting for income taxes as part of the process of preparing our consolidated financial statements , we are required to estimate our income taxes in each of the tax jurisdictions in which we operate . this process involves using an asset and liability approach whereby deferred tax assets and liabilities are recorded for differences in the financial reporting bases and tax bases of our assets and liabilities . a valuation allowance is provided against deferred tax assets unless it is more likely than not that such deferred tax assets will be realized . this analysis requires considerable judgment and is subject to change to reflect future events and changes in the tax laws . the benefit of a tax position is recognized only if it is more likely than not that the tax position would be sustained based on its technical merits in a tax examination , using the presumption the tax authority has full knowledge of all relevant facts regarding the - 42 - position . the amount of benefit recognized is the largest amount of tax benefit

