we believe that pursuing research in diverse areas allows us to balance the risks inherent in drug development and may provide drug candidates that will form our pipeline in future years . 52 collaboration arrangements we have entered into collaborations with biotechnology and pharmaceutical companies in order to acquire rights or to license drug candidates or technologies that enhance our pipeline and or our research capabilities . over the last several years , we entered into collaboration agreements with : crispr therapeutics ag , or crispr , pursuant to which we are collaborating on the discovery and development of potential new treatments aimed at the underlying genetic causes of human diseases using crispr-cas9 gene editing technology ; parion sciences , inc. , or parion , pursuant to which we are developing epithelial sodium channel , or enac , inhibitors for the treatment of pulmonary diseases ; moderna therapeutics , inc. , or moderna , pursuant to which we are seeking to identify and develop mrna therapeutics for the treatment of cf ; and bioaxone biosciences , inc. , or bioaxone , pursuant to which we are evaluating vx-210 as a potential treatment for patients who have spinal cord injuries . generally , when we in-license a technology or drug candidate , we make upfront payments to the collaborator , assume the costs of the program and agree to make contingent payments , which could consist of milestone , royalty and option payments . depending on many factors , including the structure of the collaboration , the significance of the drug candidate that we license to the collaborator 's operations and the other activities in which our collaborators are engaged , the accounting for these transactions can vary significantly . for example , the upfront payments and expenses incurred in connection with our crispr and moderna collaborations are being expensed as research expenses because the collaboration represents a small portion of these collaborators overall business . crispr and moderna 's activities unrelated to our collaborations have no effect on our consolidated financial statements . parion and bioaxone are being accounted for as variable interest entities , or vies , and are included in our consolidated financial statements due to ( i ) the significance of the respective licensed programs to parion and bioaxone as a whole , ( ii ) our power to control the significant activities under each collaboration and ( iii ) our obligation to absorb losses and right to receive benefits that potentially could be significant . each of our consolidated vies are engaging in activities unrelated to our collaboration , including in the case of parion , seeking to develop novel treatments for pulmonary and ocular diseases . the revenues and expenses unrelated to the programs we in-license from our vies are immaterial to our consolidated financial statements . in each case , the activities unrelated to our collaboration represent less than 1 % of our total revenues and total expenses . because we consolidate our vies , we evaluate the fair value of the contingent payments payable by us on a quarterly basis . changes in the fair value of these contingent future payments affect net income attributable to vertex on a dollar-for-dollar basis , with increases in the fair value of contingent payments payable by us to a vie resulting in a decrease in net income attributable to vertex ( or an increase in net loss attributable to vertex ) and decreases in the fair value of contingent payments payable by us to a vie resulting in an increase in net income attributable to vertex ( or decrease in net loss attributable to vertex ) . for additional information regarding our vies see note b “ collaborative arrangements ” and our critical accounting policies “ collaborations ; variable interest entities . ” we have also out-licensed internally developed programs to collaborators who are leading the development of these programs . these outlicense arrangements include our collaboration agreements with : merck kgaa , pursuant to which merck kgaa will , subject to regulatory approval , obtain rights to four oncology research and development programs ; and janssen pharmaceuticals , inc. which is developing jnj-3872 ( formerly vx-787 ) for the treatment of influenza . pursuant to these outlicensing arrangements , our collaborators are responsible for the research , development and commercialization costs associated with these programs and we are entitled to receive contingent milestone and or royalty payments . as a result , we do not expect to incur significant expenses in connection with these programs and have the potential for future collaborative and or royalty revenues resulting from these programs . drug discovery and development discovery and development of a new pharmaceutical product is a difficult and lengthy process that requires significant financial resources along with extensive technical and regulatory expertise and can take 10 to 15 years or more . potential drug candidates are subjected to rigorous evaluations , driven in part by stringent regulatory considerations , designed to 53 generate information concerning efficacy , side-effects , proper dosage levels and a variety of other physical and chemical characteristics that are important in determining whether a drug candidate should be approved for marketing as a pharmaceutical product . most chemical compounds that are investigated as potential drug candidates never progress into development , and most drug candidates that do advance into development never receive marketing approval . because our investments in drug candidates are subject to considerable risks , we closely monitor the results of our discovery , research , clinical trials and nonclinical studies and frequently evaluate our drug development programs in light of new data and scientific , business and commercial insights , with the objective of balancing risk and potential . this process can result in abrupt changes in focus and priorities as new information becomes available and as we gain additional understanding of our ongoing programs and potential new programs , as well as those of our competitors . story_separator_special_tag restructuring expense in 2016 , 2015 and 2014 , we recorded restructuring expenses of $ 1.3 million , $ 2.2 million and $ 50.9 million , respectively . our restructuring expenses in 2014 were primarily related to the relocation of our corporate headquarters in massachusetts to boston from cambridge . as of december 31 , 2016 , our accrued restructuring liability related to our lease obligation in cambridge was $ 8.0 million . this lease obligation expires in april 2018 . 59 other items , net interest expense , net in 2016 , 2015 and 2014 , interest expense , net was $ 81.4 million , $ 84.2 million and $ 72.9 million , respectively . the decrease in interest expense , net in 2016 as compared to 2015 was primarily due to a lower interest rate on the $ 300.0 million of outstanding borrowings following the refinancing of our credit agreement in october 2016. the increase in interest expense , net in 2015 as compared to 2014 was primarily due to the interest expense we incurred for the full fiscal year in 2015 on the $ 300.0 million that we borrowed in mid-2014 pursuant to our prior credit agreement . we expect our interest expense , net in 2017 to be dependent on the amounts we borrow pursuant to our revolving credit agreement during 2017. other income ( expense ) , net in 2016 , net other income was $ 4.1 million and primarily due to foreign exchange gains . in 2015 , net other expense was $ 6.7 million primarily due to foreign exchange losses . in 2014 , we recorded net other income of $ 30.4 million primarily due to a credit of $ 36.7 million related to a one-time cash payment we received in 2014 from our landlord pursuant to leases for our corporate headquarters in boston , massachusetts . income taxes in 2016 , we recorded a provision for income taxes of $ 16.7 million , principally related to income taxes payable by our vies . in 2015 , we recorded a provision for income taxes of $ 30.4 million , principally due to the consolidation of parion as a vie into our consolidated financial statements in the second quarter of 2015. in 2014 , our provision for income taxes was $ 7.0 million , of which approximately $ 3.9 million was due to the consolidation of bioaxone as a vie into our consolidated financial statements in the fourth quarter of 2014. noncontrolling interest ( vies ) the net ( income ) loss attributable to noncontrolling interest ( vies ) recorded on our consolidated statements of operations reflects parion and bioaxone 's net loss ( income ) for the reporting period , adjusted for any changes in the noncontrolling interest holders ' claim to net assets , including contingent milestone , royalty and option payments . a summary of net ( income ) loss attributable to noncontrolling interest related to our vies for the three years ended december 31 , 2016 is as follows : replace_table_token_12_th discontinued operations in 2014 , we recorded a loss from discontinued operations attributable to vertex of $ 0.9 million . our loss from discontinued operations in this period included losses due to the deconsolidation of alios biopharma , inc , or alios , our former collaborator , prior to the termination of our collaboration agreement with alios in the fourth quarter of 2014. story_separator_special_tag /font > in december 2015 , we entered into a lease agreement , pursuant to which we agreed to lease approximately 170,000 square feet of office and laboratory space in a building under construction in san diego , california . the lease will commence upon completion of the building , scheduled for the first half of 2018 and will extend for 16 years from the commencement date . the future minimum rental payments that we are obligated to pay after taking occupancy are included in “ facility leases , excluding fan pier leases . ” we currently lease laboratory and office space at our former kendall square facility in cambridge , massachusetts that will expire in 2018. our future minimum commitments under our kendall square lease are included in “ facility leases , excluding fan pier leases . ” we have entered into three subleases for a portion of the rentable square footage at the kendall square facility to offset our on-going contractual lease obligations . the future minimum committed income from the subleases is $ 15.7 million for 2017 and $ 5.2 million total for 2018 . these amounts are not offset against our obligations set forth in the table above . the table also reflects leases of equipment , leasehold improvements and software licenses that are accounted for as capital leases . revolving credit facility in october 2016 , we entered into a revolving credit agreement and borrowed $ 300.0 million under a $ 500.0 million revolving credit facility . subject to certain conditions , we may request that the borrowing capacity under this credit agreement be increased by an additional $ 300.0 million . the outstanding loan bears interest at a rate of libor plus an applicable margin ranging from 1.75 % to 2.50 % , based on our consolidated leverage ratio ( the ratio of our total consolidated funded indebtedness to our consolidated ebitda for the most recently completed four fiscal quarter period ) . the table above reflects the $ 300.0 million outstanding as of december 31 , 2016. the above table assumes the repayment of the $ 300.0 million in 2017 because we repaid the outstanding amounts under the credit agreement in february 2017. we may reborrow and repay amounts under the revolving credit agreement without penalty . research , development and drug supply costs research , development and drug supply costs , does not include certain payments we are obligated to make to clinical research organizations , or cros , because these contracts are cancelable , at our

liquidity and capital resources as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 1.43 billion , which represented an increase of $ 392.1 million from approximately $ 1.04 billion as of december 31 , 2015 . the increase in our cash , cash equivalents and marketable securities balance was primarily due to increased cash receipts in 2016 from product sales , partially offset by increased cash expenditures in 2016 related to , among other things , research and development expenses and sales , general and administrative expenses . our future cash flows will be substantially dependent on product sales of orkambi and kalydeco . 60 sources of liquidity we intend to rely on our existing cash , cash equivalents and marketable securities together with cash flows from product sales as our primary source of liquidity . we are receiving cash flows from sales of orkambi and kalydeco from the united states and ex-u.s. markets . future net product revenues for orkambi from ex-u.s. markets will be dependent on , among other things , the timing of and ability to complete reimbursement discussions in european countries . under the agreement we entered into in the first quarter of 2016 with merck kgaa , we expect to receive an up-front payment of $ 230.0 million in 2017 , subject to hart-scott rodino clearance . as of december 31 , 2016 , we had borrowed $ 300.0 million under a five-year $ 500.0 million revolving credit facility that we entered into in october 2016. we may repay and reborrow amounts under the revolving credit agreement without penalty .


 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 as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 1.43 billion , which represented an increase of $ 392.1 million from approximately $ 1.04 billion as of december 31 , 2015 . the increase in our cash , cash equivalents and marketable securities balance was primarily due to increased cash receipts in 2016 from product sales , partially offset by increased cash expenditures in 2016 related to , among other things , research and development expenses and sales , general and administrative expenses . our future cash flows will be substantially dependent on product sales of orkambi and kalydeco . 60 sources of liquidity we intend to rely on our existing cash , cash equivalents and marketable securities together with cash flows from product sales as our primary source of liquidity . we are receiving cash flows from sales of orkambi and kalydeco from the united states and ex-u.s. markets . future net product revenues for orkambi from ex-u.s. markets will be dependent on , among other things , the timing of and ability to complete reimbursement discussions in european countries . under the agreement we entered into in the first quarter of 2016 with merck kgaa , we expect to receive an up-front payment of $ 230.0 million in 2017 , subject to hart-scott rodino clearance . as of december 31 , 2016 , we had borrowed $ 300.0 million under a five-year $ 500.0 million revolving credit facility that we entered into in october 2016. we may repay and reborrow amounts under the revolving credit agreement without penalty .
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 Suspicious Activity Report : we believe that pursuing research in diverse areas allows us to balance the risks inherent in drug development and may provide drug candidates that will form our pipeline in future years . 52 collaboration arrangements we have entered into collaborations with biotechnology and pharmaceutical companies in order to acquire rights or to license drug candidates or technologies that enhance our pipeline and or our research capabilities . over the last several years , we entered into collaboration agreements with : crispr therapeutics ag , or crispr , pursuant to which we are collaborating on the discovery and development of potential new treatments aimed at the underlying genetic causes of human diseases using crispr-cas9 gene editing technology ; parion sciences , inc. , or parion , pursuant to which we are developing epithelial sodium channel , or enac , inhibitors for the treatment of pulmonary diseases ; moderna therapeutics , inc. , or moderna , pursuant to which we are seeking to identify and develop mrna therapeutics for the treatment of cf ; and bioaxone biosciences , inc. , or bioaxone , pursuant to which we are evaluating vx-210 as a potential treatment for patients who have spinal cord injuries . generally , when we in-license a technology or drug candidate , we make upfront payments to the collaborator , assume the costs of the program and agree to make contingent payments , which could consist of milestone , royalty and option payments . depending on many factors , including the structure of the collaboration , the significance of the drug candidate that we license to the collaborator 's operations and the other activities in which our collaborators are engaged , the accounting for these transactions can vary significantly . for example , the upfront payments and expenses incurred in connection with our crispr and moderna collaborations are being expensed as research expenses because the collaboration represents a small portion of these collaborators overall business . crispr and moderna 's activities unrelated to our collaborations have no effect on our consolidated financial statements . parion and bioaxone are being accounted for as variable interest entities , or vies , and are included in our consolidated financial statements due to ( i ) the significance of the respective licensed programs to parion and bioaxone as a whole , ( ii ) our power to control the significant activities under each collaboration and ( iii ) our obligation to absorb losses and right to receive benefits that potentially could be significant . each of our consolidated vies are engaging in activities unrelated to our collaboration , including in the case of parion , seeking to develop novel treatments for pulmonary and ocular diseases . the revenues and expenses unrelated to the programs we in-license from our vies are immaterial to our consolidated financial statements . in each case , the activities unrelated to our collaboration represent less than 1 % of our total revenues and total expenses . because we consolidate our vies , we evaluate the fair value of the contingent payments payable by us on a quarterly basis . changes in the fair value of these contingent future payments affect net income attributable to vertex on a dollar-for-dollar basis , with increases in the fair value of contingent payments payable by us to a vie resulting in a decrease in net income attributable to vertex ( or an increase in net loss attributable to vertex ) and decreases in the fair value of contingent payments payable by us to a vie resulting in an increase in net income attributable to vertex ( or decrease in net loss attributable to vertex ) . for additional information regarding our vies see note b “ collaborative arrangements ” and our critical accounting policies “ collaborations ; variable interest entities . ” we have also out-licensed internally developed programs to collaborators who are leading the development of these programs . these outlicense arrangements include our collaboration agreements with : merck kgaa , pursuant to which merck kgaa will , subject to regulatory approval , obtain rights to four oncology research and development programs ; and janssen pharmaceuticals , inc. which is developing jnj-3872 ( formerly vx-787 ) for the treatment of influenza . pursuant to these outlicensing arrangements , our collaborators are responsible for the research , development and commercialization costs associated with these programs and we are entitled to receive contingent milestone and or royalty payments . as a result , we do not expect to incur significant expenses in connection with these programs and have the potential for future collaborative and or royalty revenues resulting from these programs . drug discovery and development discovery and development of a new pharmaceutical product is a difficult and lengthy process that requires significant financial resources along with extensive technical and regulatory expertise and can take 10 to 15 years or more . potential drug candidates are subjected to rigorous evaluations , driven in part by stringent regulatory considerations , designed to 53 generate information concerning efficacy , side-effects , proper dosage levels and a variety of other physical and chemical characteristics that are important in determining whether a drug candidate should be approved for marketing as a pharmaceutical product . most chemical compounds that are investigated as potential drug candidates never progress into development , and most drug candidates that do advance into development never receive marketing approval . because our investments in drug candidates are subject to considerable risks , we closely monitor the results of our discovery , research , clinical trials and nonclinical studies and frequently evaluate our drug development programs in light of new data and scientific , business and commercial insights , with the objective of balancing risk and potential . this process can result in abrupt changes in focus and priorities as new information becomes available and as we gain additional understanding of our ongoing programs and potential new programs , as well as those of our competitors . story_separator_special_tag restructuring expense in 2016 , 2015 and 2014 , we recorded restructuring expenses of $ 1.3 million , $ 2.2 million and $ 50.9 million , respectively . our restructuring expenses in 2014 were primarily related to the relocation of our corporate headquarters in massachusetts to boston from cambridge . as of december 31 , 2016 , our accrued restructuring liability related to our lease obligation in cambridge was $ 8.0 million . this lease obligation expires in april 2018 . 59 other items , net interest expense , net in 2016 , 2015 and 2014 , interest expense , net was $ 81.4 million , $ 84.2 million and $ 72.9 million , respectively . the decrease in interest expense , net in 2016 as compared to 2015 was primarily due to a lower interest rate on the $ 300.0 million of outstanding borrowings following the refinancing of our credit agreement in october 2016. the increase in interest expense , net in 2015 as compared to 2014 was primarily due to the interest expense we incurred for the full fiscal year in 2015 on the $ 300.0 million that we borrowed in mid-2014 pursuant to our prior credit agreement . we expect our interest expense , net in 2017 to be dependent on the amounts we borrow pursuant to our revolving credit agreement during 2017. other income ( expense ) , net in 2016 , net other income was $ 4.1 million and primarily due to foreign exchange gains . in 2015 , net other expense was $ 6.7 million primarily due to foreign exchange losses . in 2014 , we recorded net other income of $ 30.4 million primarily due to a credit of $ 36.7 million related to a one-time cash payment we received in 2014 from our landlord pursuant to leases for our corporate headquarters in boston , massachusetts . income taxes in 2016 , we recorded a provision for income taxes of $ 16.7 million , principally related to income taxes payable by our vies . in 2015 , we recorded a provision for income taxes of $ 30.4 million , principally due to the consolidation of parion as a vie into our consolidated financial statements in the second quarter of 2015. in 2014 , our provision for income taxes was $ 7.0 million , of which approximately $ 3.9 million was due to the consolidation of bioaxone as a vie into our consolidated financial statements in the fourth quarter of 2014. noncontrolling interest ( vies ) the net ( income ) loss attributable to noncontrolling interest ( vies ) recorded on our consolidated statements of operations reflects parion and bioaxone 's net loss ( income ) for the reporting period , adjusted for any changes in the noncontrolling interest holders ' claim to net assets , including contingent milestone , royalty and option payments . a summary of net ( income ) loss attributable to noncontrolling interest related to our vies for the three years ended december 31 , 2016 is as follows : replace_table_token_12_th discontinued operations in 2014 , we recorded a loss from discontinued operations attributable to vertex of $ 0.9 million . our loss from discontinued operations in this period included losses due to the deconsolidation of alios biopharma , inc , or alios , our former collaborator , prior to the termination of our collaboration agreement with alios in the fourth quarter of 2014. story_separator_special_tag /font > in december 2015 , we entered into a lease agreement , pursuant to which we agreed to lease approximately 170,000 square feet of office and laboratory space in a building under construction in san diego , california . the lease will commence upon completion of the building , scheduled for the first half of 2018 and will extend for 16 years from the commencement date . the future minimum rental payments that we are obligated to pay after taking occupancy are included in “ facility leases , excluding fan pier leases . ” we currently lease laboratory and office space at our former kendall square facility in cambridge , massachusetts that will expire in 2018. our future minimum commitments under our kendall square lease are included in “ facility leases , excluding fan pier leases . ” we have entered into three subleases for a portion of the rentable square footage at the kendall square facility to offset our on-going contractual lease obligations . the future minimum committed income from the subleases is $ 15.7 million for 2017 and $ 5.2 million total for 2018 . these amounts are not offset against our obligations set forth in the table above . the table also reflects leases of equipment , leasehold improvements and software licenses that are accounted for as capital leases . revolving credit facility in october 2016 , we entered into a revolving credit agreement and borrowed $ 300.0 million under a $ 500.0 million revolving credit facility . subject to certain conditions , we may request that the borrowing capacity under this credit agreement be increased by an additional $ 300.0 million . the outstanding loan bears interest at a rate of libor plus an applicable margin ranging from 1.75 % to 2.50 % , based on our consolidated leverage ratio ( the ratio of our total consolidated funded indebtedness to our consolidated ebitda for the most recently completed four fiscal quarter period ) . the table above reflects the $ 300.0 million outstanding as of december 31 , 2016. the above table assumes the repayment of the $ 300.0 million in 2017 because we repaid the outstanding amounts under the credit agreement in february 2017. we may reborrow and repay amounts under the revolving credit agreement without penalty . research , development and drug supply costs research , development and drug supply costs , does not include certain payments we are obligated to make to clinical research organizations , or cros , because these contracts are cancelable , at our

