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Net sales for fiscal 2012 increased $75.5 million , or 3.4 percent , as compared to fiscal 2011 .

Net sales for fiscal 2014 in the AMER segment increased $175.4 million, or 16.5 percent, as compared to fiscal 2013, primarily due to increased net sales of $154.8 million to a key networking/communications customer resulting from a new product ramp.

Dollar retention the percentage of the dollar value of all client membership contracts renewed during the most recent twelve-month period to the total dollar value of all client membership contracts that expired during the period.

Enrichment the percentage of the dollar value of client membership contracts renewed during the most recent twelve-month period to the dollar value of the corresponding expiring contracts.

2011 Note Offering, the Company obtained the consent of Bank of America to the 2011 Note Offering and the agreement of Bank of America that the 2011 Note Offering will not constitute a default under the Credit Agreement.

In connection with the 2008 Note Offering, the Company obtained the consent of Bank of America to the 2008 Note Offering and the agreement of Bank of America that the 2008 Note Offering will not constitute a default under the Credit Agreement.

These increases were partially offset by declining revenues from products divested or discontinued in the current or prior year which reduced comparative period revenues by $3.3 million.

These increases were partially offset by a decrease in revenues from products divested or discontinued in the current or prior year which reduced comparative period revenues by $17.0 million and a decrease in acquisition revenues from the Hettlingen acquisition of $8.7 million .

As a percentage of sales, gross margin decreased in 2011 from the prior year.

As a percentage of sales, gross margin increased in 2011 from the prior year.

This includes an increase of $19.9 million from the recent acquisitions.

This includes an increase of $8.8 million from the recent acquisitions.

Total revenue for the year ended December 31, 2011 , increased almost entirely due to an increase in business services revenue.

Total revenue for the year ended December 31, 2013 increased by 41% due to an increase in business services revenue.

For 201 5 , international operations represented 6 0 .2 percent of 3M s sales.

For 2016, international operations represented 59.5 percent of 3M s sales.

The lower commodity prices primarily impacted properties located in Texas because production taxes are based on a fixed percentage of gross value of production sold.

The higher oil prices primarily impacted properties located in Texas because production taxes are based on a fixed percentage of gross value of production sold.

We have classified private-label mortgage-related securities held in our investment portfolio as subprime if the securities were labeled as such when issued.

We have classified private-label mortgage-related securities held in our investment portfolio as Alt-A if the securities were labeled as such when issued.

During the same time, corporate bond yields, which are used in determining the discount rate for future pension obligations, remained unchanged .

During the same time, corporate bond yields, which are used in determining the discount rate for future pension obligations, decreased .

For 201 5 , international operations represented 6 0 .2 percent of 3M s sales.

For 2016, international operations represented 59.5 percent of 3M s sales.

Product gross profit margin decrease d from 32% in 2013 to 30% in 2014 .

Product gross profit margin decrease d from 30% in 2014 to 29% in 2015 .

8 A non-Lifeline wireless line in service is defined as a revenue generating wireless device that is not eligible for Lifeline support.

9 A Lifeline wireless line in service is defined as a revenue generating wireless device that is eligible for Lifeline support.

Under these agreements, Holly agreed to transport, store and throughput volumes of refined product and crude oil on our pipelines and terminal, tankage and loading rack facilities that result in minimum annual payments to us.

Under these agreements, HFC agreed to transport, store and throughput volumes of refined product and crude oil on our pipelines and terminal, tankage and loading rack facilities that result in minimum annual payments to us.

Currency affected net revenues favorably by approximately $23 million.

Currency favorably impacted other SG A by approximately $10 million.

Although we are uncertain on the final outcome of the second and third complaints regarding the ROE, we believe the current reserves established are appropriate to reflect probable and reasonably estimable refunds.

On March 22, 2016, the FERC ALJ issued an initial decision on the second and third complaints.

The decrease resulted primarily from a decrease of $2.1 million in payroll and related expenses primarily due to a decrease in share-based compensation and a decrease of $1.2 million resulting from the winding down of certain clinical trials for taliglucerase alfa.

The decrease resulted primarily from a decrease of $1.5 million in payroll and related expenses primarily due to a decrease in share-based compensation.

Conversely, if the price of a near month contract is lower than the next month contract (a situation referred to as contango in the futures market), then absent any other change there is a tendency for the price of a next month contract to decline in value as it becomes the near month contract and approaches expiration.

For example, if the price of the near month contract is higher than the next month contract (a situation referred to as backwardation in the futures market), then absent any other change there is a tendency for the price of a next month contract to rise in value as it becomes the near month contract and approaches expiration.

This alternative method of revenue recognition is not the preferred method of revenue recognition as prescribed within generally accepted accounting principles in the United States of America (US GAAP).

Generally accepted accounting principles in the United States ( US GAAP ) require that we recognize the BCF related to the Series A Preferred Stock as a discount on the Series A Preferred Stock and amortize such amount as a deemed distribution through the earliest conversion date.

This increase is primarily due to growth in earnings at same-center properties, properties acquired in 2013 and 2012, and redevelopment properties.

This decrease is primarily due to lower lease termination and other fees at our same-center and redevelopment properties.

2016 compared to 2015 Natural Gas Operating Revenue Natural gas operating revenue decreased $57.0 million primarily due to lower natural gas retail sales revenue of $53.7 million due to a decrease of $90.6 million related to the PGA rate reduction, partially offset by an increase of $41.0 million in gas sales due to higher therms sold.

Natural gas retail sales revenue decreased $53.7 million due to a decrease in revenue per therm of $90.6 million, partially offset by an increase of $41.0 million in natural gas sales, due to an increase in natural gas load of 4.6% from 2015.

Cash used in investing activities were approximately $60.0 million for the year ended December 31, 2013 , consisting primarily of approximately $52.0 million of cash used, net of cash acquired, in the acquisition of Tinet.

Net cash provided by financing activities was $253.5 million for the year ended December 31, 2015 , consisting primarily of the net proceeds from the October 2015 Credit Agreement used to fund the acquisition of One Source.

In addition to purchasing defaulted receivables, Baycorp offers portfolio management services to banks for non-performing loans.

In addition to purchasing defaulted receivables, Refinancia offers portfolio management services to banks for non-performing loans.

As of December 31, 2011 and 2010, our allowances for product returns were $6.8 million and $3.5 million, respectively.

As of December 31, 2012 and 2011, our allowances for product returns were $8.4 million and $6.8 million, respectively.

The increase from existing operations was primarily due to capital expenditures in 2014.

The increase in our operating income in 2017 was primarily due to new operations, including GRail, Providence and Worcester Railroad Company (Providence and Worcester Railroad) and Pentalver.

At year-end 2014 , demand deposits represented 27% of total deposits, savings represented 56% and time deposits represented 17%.

At year-end 2016 , demand deposits represented 31% of total deposits, savings represented 54% and time deposits represented 15%.

Approximately $8 million from net currency translation gains caused primarily by a strengthening of the U.S. dollar relative to the Canadian dollar and the Norwegian krone, as their local currency-denominated operating costs were translated into fewer U.S. dollars in 2016 as compared to 2015, (and such translation, as it related to the U.S. dollar relative to the euro, had a negative effect on income from operations in 2016 as compared to 2015, as the negative impact of the stronger U.S. dollar on euro-denominated sales more than offset the favorable effect of euro-denominated operating costs being translated into fewer U.S. dollars in 2016 compared to 2015).

Approximately $4 million from net currency translation losses primarily caused by a weakening of the U.S. dollar relative to the Canadian dollar, as its local currency-denominated operating costs were translated into more U.S. dollars in 2017 as compared to 2016, and such translation, as it related to the U.S. dollar relative to the euro, had a nominal effect on Kronos income from operations in 2017 as compared to 2016.

In addition, through its Consumer Health reportable segment, the Company manufactures and markets animal health and OTC products, both branded and private label.

Consumer Health , we manufacture and market branded and private-label animal health and OTC products, respectively.

Partially offsetting these increases were lower net sales of Ojon brand products due, in part, to softness in our business in the direct response television channel.

Partially offsetting these increases were lower sales of Bumble and bumble brand products to salons and lower net sales of Ojon brand products due, in part, to a reduction in our business in the DRTV channel.

The following table summarizes total revenues, net income (loss) and net income (loss) attributable to Icahn Enterprises Holdings for our Holding Company and the consolidated totals with respect to Icahn Enterprises Holdings for the years ended December 31, 2013 , 2012 and 2011.

The following table summarizes total revenues, net income (loss) and net income (loss) attributable to Icahn Enterprises for each of our reporting segments and our Holding Company for the years ended December 31, 2014 , 2013 and 2012.

This increase is primarily due to growth in earnings at same-center properties, properties acquired in 2013 and 2012, and redevelopment properties.

This decrease is primarily due to lower lease termination and other fees at our same-center and redevelopment properties.

Approximately $8 million from net currency translation gains caused primarily by a strengthening of the U.S. dollar relative to the Canadian dollar and the Norwegian krone, as their local currency-denominated operating costs were translated into fewer U.S. dollars in 2016 as compared to 2015, (and such translation, as it related to the U.S. dollar relative to the euro, had a negative effect on income from operations in 2016 as compared to 2015, as the negative impact of the stronger U.S. dollar on euro-denominated sales more than offset the favorable effect of euro-denominated operating costs being translated into fewer U.S. dollars in 2016 compared to 2015).

Approximately $4 million from net currency translation losses primarily caused by a weakening of the U.S. dollar relative to the Canadian dollar, as its local currency-denominated operating costs were translated into more U.S. dollars in 2017 as compared to 2016, and such translation, as it related to the U.S. dollar relative to the euro, had a nominal effect on Kronos income from operations in 2017 as compared to 2016.

By comparison, for the three months ended December 31, 2011 and 2010, US12OF earned $7,824 and $18,543, respectively, in dividend and interest income on such Treasuries, cash and/or cash equivalents.

For the three months ended December 31, 2013, USL earned $5,174 in dividend and interest income on such Treasuries, cash and/or cash equivalents.

We recorded a provision for loan losses of $6 million in fiscal year 2017 .

We recorded a benefit for loan losses of $18 million in fiscal year 2018 , compared with a provision of $6 million in fiscal year 2017 .

In January 2014, we received a payment of $5.1 million from BMC Acquisition, Inc. in full satisfaction of all obligations under the loan agreement.

In May 2015, we received a cash payment of $5.1 million from Garretson Firm Resolution Group, Inc. in full satisfaction of all obligations under the loan agreement.

When derivative commitments to sell securities settle, we include the fair value of the commitment on the settlement date in the cost basis of the security we sell.

When derivative purchase commitments settle, we include the fair value of the commitment on the settlement date in the cost basis of the loan or security we purchase.

The loss in 2013 is largely attributable to the non-cash amortization expense associated with intangible assets acquired with the April 2013 acquisition of Orbital Gas Systems.

Depreciation and amortization has decreased in 2015 compared to 2014 as the intangible asset associated with the order backlog acquired with Orbital Gas Systems Limited was fully amortized during the first quarter of 2015.

The 89,134 square foot property was 100% leased at the time of purchase and is located in Plano, Texas.

The 113,281 square foot property was 86% leased at the time of purchase and is located in Chandler, Arizona.

In July 2012, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income.

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers," which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance.

Our primary capital projects for 2015 include the construction of our ORV condensate pipeline, Bearkat plant facilities and West Texas expansion project.

Our primary capital projects for 2016 include completing the construction of our Riptide plant in our Texas segment, commencing construction of our Marathon joint venture NGL pipeline in our Louisiana segment, developing our Tall Oak assets in our Oklahoma segment and investing in HEP to fund our equity share of its pipeline expansion projects in our Corporate segment.

Net loss for fiscal year 2014 was $836 thousand compared to net income of $662 thousand for the prior year period, a decrease of $1.5 million .

Net income for fiscal year 2015 was $364 thousand compared to a net loss of $836 thousand for the prior year period, an increase of $1.2 million .

Adjusting for the impact of the accelerated orders, reported net sales in the Americas would have increased 4%.

Adjusting for the impact of the accelerated orders, reported net sales in makeup would have increased 5%.

As a result of adjustments to deferred revenue related to certain acquisitions required by business combination rules, we did not recognize $0.8 million of revenue in our Human Health segment for fiscal year 2015 and $2.9 million of revenue in our Human Health segment for fiscal year 2014 that otherwise would have been recorded by the acquired businesses during each of the respective periods.

As a result of adjustments to deferred revenue related to certain acquisitions required by business combination rules, we did not recognize $27 thousand of revenue in our Discovery Analytical Solutions segment for fiscal year 2015 that otherwise would have been recorded by the acquired businesses during each of the respective periods.

This was primarily due to the benefit of income subject to foreign tax rates that are lower than U.S. tax rates and the benefit of releasing state tax reserves accrued under ASC 740-10 and related interest.

This was primarily due to differences related to the benefit of income subject to foreign tax rates that are lower than U.S. tax rates including South Korea and Singapore tax exemptions, the benefit of foreign tax credits, the benefit of the federal research and development tax credits including renewal of the federal research and development tax credits for fiscal 2012 and the benefit of releasing foreign tax reserves accrued under ASC 740-10 Income Taxes and related interest.

Net cash used in investing activities increased $51.0 million to $396.2 million during 2014 from $345.2 million during 2013 .

Net cash used in investing activities decreased $42.4 million to $353.8 million during 2015 from $396.2 million during 2014 .

The 2026 Notes were issued at 99.118% of the principal amount, which resulted in a discount of 4.4 million .

The 2021 Notes were issued at 99.4% of the principal amount, which resulted in a discount of $3.1 million .

The election was made in consideration of the lower financial performance of the reporting unit when compared to fiscal 2013, mostly due to softness in market conditions, predominantly in the advanced packaging market.

Although the reporting unit had better financial performance in fiscal 2015 compared to fiscal 2014, such performance was not significant enough to justify performing only a qualitative assessment in fiscal 2015.

Growth in the supplies-driven channel of the office furniture segment was modest as employment and broader economic concerns weighed on small business confidence.

Growth in the contract channel of the office furniture segment was modest as many large corporations delayed or postponed major projects in reaction to economic uncertainty.

The loss predominantly was attributable to the modification to the Warrant agreement in December 2011 whereby the exercise price will be adjusted for any and all dividends declared and paid after December 31, 2011.

The current year loss was predominantly attributable to the increase in market price of the underlying common stock whereas the prior year loss was predominantly attributable to the modification to the Warrant agreement in December 2011 whereby the exercise price will be adjusted for any and all dividends declared and paid after December 31, 2011.

Operating margin for the third fiscal quarter of 2015 includes $63.0 million of goodwill and depreciable and amortizable long-lived asset impairment charges (see Note 3 to our consolidated financial statements).

Operating margin for the third fiscal quarter of 2016 includes $1.6 million of intangible asset impairment charges (see Note 3 to our consolidated financial statements).

PSCo used a portion of the net proceeds from the sale of the first mortgage bonds to repay short-term debt borrowings incurred to fund daily operational needs.

NSP-Wisconsin used a portion of the net proceeds from the sale of the first mortgage bonds to repay short-term debt borrowings incurred to fund daily operational needs.

We provide services to our customers and returns for our unitholders primarily through the following activities:

We provide services to our customers and returns for our unitholders through our liquids business, which consists of interstate pipeline transportation and storage of crude oil and liquid petroleum.

On December 21, 2010, CBRE Capital Markets entered into a secured credit agreement with TD Bank to establish a warehouse line of credit.

On April 16, 2008, CBRE Capital Markets entered into a secured credit agreement with BofA to establish a warehouse line of credit.

From time to time we may purchase additional Senior Notes.

From time to time we may be in the market for the purpose of repurchasing our Senior Notes.

Based on the nature of the business and operations of the Partnership, Altegris Funds believes that the estimates utilized in preparing the Partnership s financial statements are appropriate and reasonable, however actual results could differ from these estimates.

Based on the nature of the business and operations of the Partnership, the General Partner believes that the estimates utilized in preparing the Partnership s financial statements are appropriate and reasonable, however actual results could differ from these estimates.

These increases were offset by a decrease in information technology expense of $0.9 million and other general and administrative of $0.9 million.

These increases were offset by a decrease in an ESOP charge of $6.2 million that occurred in 2016.

Annual sales for Techalloy at the date of acquisition were approximately $70,000.

Annual sales for MGM at the date of acquisition were approximately $30,000 .

by a lower average balance in cash and cash equivalents primarily during the second half of 2016.The year-over-year increase in dollars was attributable to growth in outstanding business volume.

The increase was offset in part by (1) higher net yield adjustments from amortization of purchase premiums on certain Farm Ranch loans and (2) a tighter spread on a large AgVantage security that was refinanced in first quarter 2016 at a shorter maturity than the original security.The 2 basis point increase in net interest yield for 2016 compared to 2015 was primarily driven by a lower average balance in cash and cash equivalents primarily during the second half of 2016.

This was primarily due to long-term interest rates increasing in the current year but decreasing in the prior year, unfavorably impacting receive-fixed interest rate swaps and long interest rate floors.

These favorable impacts were partially offset by long-term interest rates increasing more in 2013 than in 2012, unfavorably impacting receive-fixed interest rate swaps and net long interest rate floors.

We provide services to our customers and returns for our unitholders primarily through the following activities:

We provide services to our customers and returns for our unitholders through our liquids business, which consists of interstate pipeline transportation and storage of crude oil and liquid petroleum.

We elected to early adopt ASU 2014-08, which had no impact on our consolidated financial statements.

The guidance in this ASU did not have an impact on our consolidated financial statements.

Income from dividends and interest and Authorized Purchaser collections net of expenses was $(526,458) which is equivalent to a weighted average net income rate of approximately (0.90)% for the year ended December 31, 2013.

Income from dividends and interest and Authorized Participant collections net of expenses was $(382,730) which is equivalent to a weighted average net income rate of approximately (0.78)% for the year ended December 31, 2014.

Research and development expenses relate to the specific projects to develop new products or expand into new markets, such as the development of new versions of our PAD and CAD Systems, shaft designs, crown design, and PAD and CAD clinical studies.

Research and development expenses relate to the specific projects to develop new products or expand into new markets, such as the development of new versions of our Peripheral OAS and Coronary OAS, and ancillary products, and PAD and CAD clinical studies.

These earnings increases were partially offset by the earnings impact associated with lower efficiency gas revenues ($6.1 million), as discussed above, higher depreciation expense ($0.6 million) and higher property taxes ($0.4 million).

The earnings increases were also partially offset by higher operating expenses ($2.6 million), a decrease in the allowance for funds used during construction (equity component) of $1.4 million, higher property taxes ($0.5 million), higher interest expense ($0.4 million) and higher income taxes ($1.0 million).

MHMB originates single family residential mortgage loans and sells these loans in the secondary market.

The Company also generates non-interest income by providing fee based banking services and by the origination and sale of conventional conforming and FHA/VA residential mortgage loans to the secondary market.

Pay-fixed swap refers to an interest rate swap trade under which we pay a predetermined fixed rate of interest based upon a set notional amount and receive a variable interest payment based upon a stated index, with the index resetting at regular intervals over a specified period of time.

Receive-fixed swap refers to an interest rate swap trade under which we make a variable interest payment based upon a stated index, with the index resetting at regular intervals, and receive a predetermined fixed rate of interest based upon a set notional amount and over a specified period of time.

This, in turn, is affected by several factors such as local or national economic conditions, the amount of new apartment construction and interest rates on single-family mortgage loans.

This, in turn, is affected by several factors such as local or national economic conditions, the amount of new apartment construction and the affordability of single-family homes.

We paid cash of approximately $40.7 million under our share repurchase program in 2011 .

In 2012, we received cash of approximately $5.7 million as proceeds from the sale of two businesses.

These increases were offset by a decrease in information technology expense of $0.9 million and other general and administrative of $0.9 million.

These increases were offset by a decrease in an ESOP charge of $6.2 million that occurred in 2016.

Net sales for fiscal 2013 in the healthcare/life sciences sector increased $68.8 million as compared to fiscal 2012.

Net sales for fiscal 2015 in the networking/communications sector increased $82.0 million , or 10.8 percent , as compared to fiscal 2014 .

We estimated the fair value of the rigs and other assets based on the estimate market value from third-party assessments (Level 3 fair value measurement).

During the second quarter, we recorded an additional write-down on the remaining drilling rigs and other equipment of approximately $8.3 million pre-tax based on the estimated market value from similar auctions.

The Preferred Stock and Included Warrants were sold in units (the Units ), with each Unit consisting of one share of Preferred Stock and an Included Warrant to purchase up to 416.6666 shares of common stock at an exercise price of $3.25 per whole share of common stock.

The common stock and warrants were sold in units, with each unit consisting of one share of common stock and a warrant to purchase one share of common stock.

The following information discusses the significant changes in operating expenses from our U.K./European Operations, excluding a decrease of $43.4 million due to the net impact from foreign currency depreciation.

The following information discusses the significant changes in operating expenses of our Australian Operations excluding a $1.9 million decrease due to the net impact from foreign currency depreciation.

Geographically, local-currency sales growth was broad-based, led by Latin America and Asia Pacific.

Organic local-currency sales growth was led by Latin American/Canada at 10.9 percent and the United States at 4.2 percent.

We may incur increased operating losses as we proceed with our collaborative research efforts with respect to PRO 140 and continue to advance it through the product development and regulatory process.

We expect to continue to incur operating losses as we proceed with our clinical trials with respect to PRO 140 and continue to advance it through the product development and regulatory process.

Although additional testimony was submitted by the complainants and the New England transmission owners in November and December 2011, the FERC has not yet issued an order in this proceeding and we cannot predict when this proceeding will be concluded, the outcome of this proceeding, or its impact on our financial position, results of operations or cash flows.

We are still evaluating the other provisions of this legislation, which are not expected to have a significant impact on our financial position, results of operations or cash flows.

The Preferred Stock and Included Warrants were sold in units (the Units ), with each Unit consisting of one share of Preferred Stock and an Included Warrant to purchase up to 416.6666 shares of common stock at an exercise price of $3.25 per whole share of common stock.

The common stock and warrants were sold in units, with each unit consisting of one share of common stock and a warrant to purchase one share of common stock.

Of the Farm Ranch loans purchased in 2016 , none had yield maintenance or another form of prepayment protection.

Of the Farm Ranch loans purchased in 2017 , 5 percent had yield maintenance or another form of prepayment protection.

Although additional testimony was submitted by the complainants and the New England transmission owners in November and December 2011, the FERC has not yet issued an order in this proceeding and we cannot predict when this proceeding will be concluded, the outcome of this proceeding, or its impact on our financial position, results of operations or cash flows.

We are still evaluating the other provisions of this legislation, which are not expected to have a significant impact on our financial position, results of operations or cash flows.

Research and development expenses increased during 2012 as compared to 2011 due to a $35.8 million increase in compensation and other employee-related costs, primarily related to increased headcount due to strategic hiring and acquisitions, and an increase in stock-based compensation expense of $22.0 million, primarily related to retention-focused awards granted to new and existing employees and assumed in conjunction with our acquisitions.

Research and development expenses increased during 2013 as compared to 2012 primarily due to an increase in compensation, including stock-based compensation and employee-related costs, primarily related to increased headcount from strategic hiring and acquisitions.

Interest Income and Asset Yield The following table summarizes our interest income for the fiscal years 2012 and 2011 (dollars in millions):

The following table summarizes recent prepayment trends for our portfolio:

This term loan bears interest at a variable rate equal to an internally calculated rate based on Farm Credit West s internal monthly operations and their cost of funds and generally follows the changes in the 90-day treasury rates in increments divisible by 0.25% and is payable in quarterly installments through November 2022.

On November 1, 2014, the rate became variable at a rate equal to an internally calculated rate based on Farm Credit West s internal monthly operations and their cost of funds and generally follows the changes in the 90-day treasury rates in increments divisible by 0.25% until the loan matures.

Within one year of the last project in-service date, scheduled for early 2016, the Partnership will also have the option to increase its economic interest held at that time by up to 15 percentage points.

Within one year of the in-service date, scheduled for 2017, we will have the option to increase its economic interest held at that time by up to 15% at cost.

However, if our estimates regarding inventory losses are inaccurate, we may be exposed to losses or gains that could be material.

However, if our estimates regarding the ultimate sales tax liability are inaccurate, we may be exposed to losses or gains that could be material.

Obligations of this type are dependent on several factors, including management discretion, and therefore, they are not included in the table.

Obligations of this type are dependent on several factors, including management discretion and various minimum contribution requirements determined by the Pension Protection Act, and therefore, are not included in the table.

We have not made any material changes in the accounting methodology used to establish our vendor support reserves in the financial periods presented.

We have not made any material changes in the accounting methodology used to establish our tax contingencies in the financial periods presented.

The new standard becomes effective for the Corporation in fiscal 2018.

The new standard becomes effective for the Corporation in fiscal 2020 and requires a cumulative effect adjustment in retained earnings as of the beginning of the year of adoption.

We have not made any material changes in the methodology used to recognize shrinkage in the financial periods presented.

We have not made any material changes in the accounting methodology used to recognize inventory impairment reserves in the financial periods presented.

This was a result of increased activity during the current year.

This was a result of decreased production activity during the current year.

In addition, we also experienced loss of production due to the unexpected shut-in of some of our production from operational issues experienced at a third party facility that processes our Segno field production.

In addition, our 2010 production was curtailed because of the unexpected shut-in of some of our production from operational issues experienced at a third party facility that processes our Segno field production.

Cash used by investing activities decreased mainly due to the slowdown in construction for infrastructure, and proceeds from the sale of property.

The decrease in cash used by investing activities was primarily due to the receipt of proceeds from the sale of California Assets by SPPC and telecommunication towers by NPC, as discussed in Note 16, Assets Held for Sale, of the Notes to Financial Statements.

The impact of the change in estimate was an increase in net sales of $77.8 million in 2011.

The impact of the change in estimate was an increase in gross profit of $66.5 million in 2011.

The provision for income taxes from continuing operations increased by $0.6 million to $0.8 million, or an effective rate of 34%, for 2015 from $0.2 million, or an effective rate of 25%, for the same period last year.

The provision for income taxes from continuing operations decreased by $0.6 million to $0.2 million, or an effective rate of 38%, for 2016 from $0.8 million, or an effective rate of 34%, for the same period last year.

New Store labor and other expenses increased $311,000 for the year ended December 31, 2012 as compared to 2011.

New Store labor and other expenses increased $404,000 for the year ended December 31, 2014 as compared to 2013 .

Incidents involving entities previously owned by RailAmerica that occurred prior to this renewal would be considered under RailAmerica s legacy liability and property insurance policies.

Incidents involving entities previously owned by RailAmerica that occurred prior to our August 1, 2013 insurance renewal are insured under RailAmerica's legacy liability and property insurance policies.

In addition, through its Consumer Health reportable segment, the Company manufactures and markets animal health and OTC products, both branded and private label.

Consumer Health , we manufacture and market branded and private-label animal health and OTC products, respectively.

Net cash used for investing and financing activities combined totaled $397.2 million in fiscal 2011.

Global attendance decreased 11.0% to 50.7 million in fiscal 2012 from 57.0 million in fiscal 2011.

Cash provided by operating activities during the year ended December 31, 2014 was primarily related to net income of $98.3 million and various non-cash add backs in operating activities and changes in operating assets and liabilities.

Cash provided by operating activities during the year ended December 31, 2015 was primarily related to net income of $47.4 million, $23.4 million loss from discontinued operations, in addition to other non-cash add backs in operating activities and changes in operating assets and liabilities.

Gain on sales of interests of real estate, net was $12.7 million in 2014, as a result of the following transactions:

Gain on Sales of Interests in Real Estate, net Gain on sales of interests of real estate, net was $23.0 million in 2016, primarily as a result of the following transactions: