our end-market growth expectations include three to five percent growth in the oil and gas market , two to four percent growth in the electrical transmission and distribution , industrial , and residential markets , and one to three percent growth in the non-residential market . we expect acquisitions to contribute approximately 15 % to net sales growth in 2018 , including net sales growth from the acquisition of aclara . we expect reported earnings per diluted share for 2018 in the range of $ 6.10 to $ 6.50 and adjusted earnings per diluted share in the range of $ 6.95 to $ 7.35 ( 1 ) . finally , with our strong financial position and cash flows provided by operating activities , we expect to continue to enhance shareholder value through capital deployment . we expect free cash flow ( defined as cash flows from operating activities less capital expenditures ) to be equal to net income attributable to hubbell in 2018 . ( 1 ) effective with results of operations reported in the first quarter of 2018 , `` adjusted `` operating measures will no longer exclude restructuring and related costs , as these costs and the related savings are expected to return to a more consistent annual run-rate in 2018 , and therefore no longer affect the comparability of our underlying performance from period to period . our expectation for full year 2018 adjusted earnings per diluted share in the range of $ 6.95 to $ 7.35 excludes aclara acquisition-related and transaction costs . aclara acquisition-related costs include the amortization of identified intangible assets and inventory step-up amortization expense . results of operations our operations are classified into two reportable segments : electrical and power . for a complete description of the company 's segments , see part i , item 1 of this annual report on form 10-k. within these segments , hubbell serves customers in five primary end markets ; non-residential construction , residential construction , industrial , energy-related markets ( also referred to as oil and gas markets ) and utility markets ( also referred to as the electrical transmission and distribution market ) . in order of magnitude of net sales , the company 's served markets are non-residential construction , industrial , utility , oil and gas , and residential construction . growth of our five primary end markets was more consistent in 2017 as compared to recent years . higher margin businesses , such as our harsh and hazardous business , that declined in recent years experienced a recovery , and the gas market was strong , which complemented utility capital spend and storm-related activity that drove growth in electrical transmission and distribution markets . non-residential and residential market demand grew as well , but that growth was restrained by the lighting market , which experienced unit growth that was dampened by pricing headwinds . industrial markets were mixed , with declines in heavy industrial business , but improvement in telecommunications . with the return to more balanced growth and recovery of higher margin businesses , adjusted operating margin of our electrical segment has stabilized year over year , declining by only 30 basis points , while absorbing our investment in iot capabilities ( through the acquisition of idevices ) , restructuring-driven inefficiencies and pricing headwinds in our lighting business as well as material cost headwinds during the year . our power segment grew organic revenues by six percent , benefiting from growth in transmission and distribution markets , and adjusted operating margins in the power segment continued to be strong , expanding by 20 basis points as productivity drove improvement despite increasing material costs . hubbell incorporated - form 10-k 19 summary of consolidated results ( in millions , except per share data ) replace_table_token_4_th in the following discussion of results of operations , we refer to `` adjusted `` operating measures . we believe those adjusted measures , which exclude the impact of certain costs and gains , may provide investors with useful information regarding our underlying performance from period to period and allow investors to understand our results of operations without regard to items we do not consider a component of our core operating performance . the adjusted operating measures also provide useful information to understand the impact of the company 's restructuring and related activities and business transformation initiatives on its results of operations . management uses these adjusted measures when assessing the performance of the business . our adjusted operating measures exclude , where applicable , the following items , as shown in the reconciliations to the comparable gaap measures that follow . income tax expense associated with u.s. tax reform in 2017 , our consolidated results of operations include approximately $ 57 million of income tax expense associated with the tcja . our full year effective tax rate , which includes these income tax effects , was 43.6 % . as provided by sab 118 ( see note 1 — recent accounting pronouncements in the notes to consolidated financial statements ) , the company has included in the current period financial statements a provisional amount with respect to the deemed repatriation provisions of the tcja , the revaluation of u.s. deferred taxes and the u.s. and foreign tax costs associated with anticipated remittances related to certain of our outside basis differences . we have also included provisional amounts with respect to those states with current conformity to the internal revenue code . during the measurement period ( as defined in note 1 — significant accounting policies in the notes to consolidated financial statements ) , additional provisional amounts and adjustments to prior provisional amounts will be required as further guidance is issued and information is obtained , prepared and analyzed . these additional provisional amounts or adjustments to prior provisional amounts may be material . see note 12 — income taxes in the notes to consolidated financial statements for additional information . story_separator_special_tag the adjusted operating margin decreased primarily due to unfavorable product and business mix , pricing headwinds in our electrical segment , foreign exchange headwinds and cost increases that were greater than productivity gains . those unfavorable impacts to the adjusted operating margin were partially offset by realized savings from our restructuring and related actions and lower material costs . total other expense total other expense was $ 47.4 million in 2016 compared to $ 56.0 million in 2015. excluding reclassification costs that were incurred in 2015 , adjusted total other expense was $ 47.4 in 2016 compared to $ 36.3 million in 2015 and increased largely due to a $ 12.4 million increase in interest expense primarily related to the $ 400 million debt offering we completed in march 2016 . 24 hubbell incorporated - form 10-k income taxes the effective tax rate was 30.8 % in 2016 as compared to 32.6 % in 2015. the effective tax rate was higher in 2015 as compared to 2016 due to certain costs of the reclassification that were not deductible partially offset by international reorganization actions in 2015 as well as certain discrete items in 2016. additional information related to the company 's effective tax rate is included in note 12 — income taxes in the notes to consolidated financial statements . net income attributable to hubbell and earnings per diluted share net income attributable to hubbell was $ 293.0 million in 2016 and increased 6 % as compared to 2015. excluding restructuring and related costs and reclassification costs , adjusted net income attributable to hubbell was $ 316.8 million in 2016 and decreased 1 % as compared to 2015 , which reflects flat adjusted operating earnings , higher interest expense in 2016 , partially offset by the benefit of a lower effective tax rate as compared to 2015. earnings per diluted share in 2016 increased 10 % compared to 2015. adjusted earnings per diluted share in 2016 , increased 3 % and reflects a lower average number of diluted shares outstanding for the year , which declined by approximately 2.3 million as compared to 2015. segment results electrical segment replace_table_token_9_th net sales in the electrical segment were $ 2.5 billion , up three percent in 2016 as compared with 2015 due to the contribution of net sales from acquisitions . organic volume was higher , despite pricing headwinds , and was offset by the unfavorable impact of foreign currency translation . net sales were three percentage points higher due to the contribution of acquisitions . organic volume , including pricing headwinds , added one percentage point to net sales and foreign currency translation reduced net sales by one percentage point . within the segment , net sales of our lighting business group increased four percent in 2016 due to organic net sales growth of six percent , partially offset by a two percentage point headwind on pricing . within the lighting business group , organic net sales of residential lighting products increased by thirteen percent , partially offset by a three percentage point headwind on pricing , and commercial and industrial lighting products increased by four percent , partially offset by a two percentage point headwind on pricing . the aggregate net sales of our other business groups in the electrical segment increased by three percentage points , primarily due to five percentage points of net sales growth from acquisitions partially offset by two percentage points from foreign currency translation . the aggregate organic net sales volume of those other business groups was lower , by less than one percent , as lower net sales of products in industrial and energy-related markets , primarily our harsh and hazardous products , were almost entirely offset by net sales growth in construction-related businesses . operating income in the electrical segment for 2016 was $ 267.4 million and decreased four percent compared to 2015. operating margin in 2016 decreased by approximately 80 basis points to 10.9 % . excluding restructuring and related costs , the adjusted operating margin decreased by 90 basis points to 12.2 % in 2016. the decrease in the adjusted operating margin is primarily due to unfavorable product and business mix , foreign exchange headwinds , cost increases that were mostly offset by productivity gains , and pricing headwinds in our lighting business group . those unfavorable impacts were partially offset by realized savings from our restructuring and related actions and lower material costs . power segment replace_table_token_10_th net sales in the power segment were $ 1.0 billion , up four percent compared to 2015 , due to the contribution of net sales from acquisitions . organic volume and the impact of foreign currency translation were effectively flat , as organic volume increased by less than one percent and was offset by foreign currency headwinds of less than one percent . operating income in the power segment increased eight percent to $ 210.4 million in 2016. operating margin in 2016 increased by 60 basis points to 20.1 % . excluding restructuring and related costs , the adjusted operating margin in 2016 increased 30 basis points to 20.4 % . the increase in the adjusted operating margin is primarily due to favorable pricing and material costs , and productivity in excess of cost increases , including the reduction of an environmental liability in the fourth quarter of 2016 , partially offset by acquisitions , which increased operating income , but reduced operating margin by approximately 40 basis points . hubbell incorporated - form 10-k 25 financial condition , liquidity and capital resources cash flow replace_table_token_11_th comparable periods have been recast to reflect the adoption of the new accounting pronouncement for share-based payments ( asu 2016-09 ) as of january 1 , 2017. the following table reconciles our cash flows from operating activities to free cash flows for 2017 , 2016 and 2015 ( in millions ) : replace_table_token_12_th ( 1 ) free cash flow as a percent of net income attributable to

debt to capital at december 31 , 2017 and 2016 , long-term debt in the consolidated balance sheets was $ 987.1 million and $ 990.5 million , respectively , of long-term unsecured , unsubordinated notes , net of unamortized discount and the unamortized balance of capitalized debt issuance costs . principal amounts of the company 's long-term unsecured , unsubordinated notes at december 31 , 2017 are $ 300 million due in 2022 , $ 400 million due in 2026 , and $ 300 million due in 2027. in august 2017 , the company completed a public debt offering of $ 300 million of long-term , unsecured , unsubordinated notes maturing in august 2027 and bearing interest at a fixed rate of 3.15 % ( the `` 2027 notes '' ) . net proceeds from the issuance were $ 294.6 million after deducting the discount on the notes and offering expenses paid by the company . in september 2017 , the company applied the net proceeds from the 2027 notes to redeem all of its $ 300 million of long-term , unsecured , unsubordinated notes maturing in 2018 and bearing interest at a fixed rate of 5.95 % . in connection with this redemption , the company recognized a loss on the early extinguishment of the 2018 notes of $ 6.3 million on an after-tax basis . the 2022 notes , 2026 notes and 2027 notes are fixed rate indebtedness , are callable at any time with a make whole premium and are only subject to accelerated payment prior to maturity in the event of a default ( including as a result of the company 's failure to meet certain non-financial covenants ) under the indenture governing the notes , as modified by the supplemental indentures creating such notes , or upon a change in control triggering event as defined in such indenture . the company was in compliance with all non-financial covenants as of december 31 , 2017 . at december 31 , 2017 and 2016 , the company had $ 68.1 million and $ 3.2 million , respectively , of short-term debt 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.
     ```debt to capital at december 31 , 2017 and 2016 , long-term debt in the consolidated balance sheets was $ 987.1 million and $ 990.5 million , respectively , of long-term unsecured , unsubordinated notes , net of unamortized discount and the unamortized balance of capitalized debt issuance costs . principal amounts of the company 's long-term unsecured , unsubordinated notes at december 31 , 2017 are $ 300 million due in 2022 , $ 400 million due in 2026 , and $ 300 million due in 2027. in august 2017 , the company completed a public debt offering of $ 300 million of long-term , unsecured , unsubordinated notes maturing in august 2027 and bearing interest at a fixed rate of 3.15 % ( the `` 2027 notes '' ) . net proceeds from the issuance were $ 294.6 million after deducting the discount on the notes and offering expenses paid by the company . in september 2017 , the company applied the net proceeds from the 2027 notes to redeem all of its $ 300 million of long-term , unsecured , unsubordinated notes maturing in 2018 and bearing interest at a fixed rate of 5.95 % . in connection with this redemption , the company recognized a loss on the early extinguishment of the 2018 notes of $ 6.3 million on an after-tax basis . the 2022 notes , 2026 notes and 2027 notes are fixed rate indebtedness , are callable at any time with a make whole premium and are only subject to accelerated payment prior to maturity in the event of a default ( including as a result of the company 's failure to meet certain non-financial covenants ) under the indenture governing the notes , as modified by the supplemental indentures creating such notes , or upon a change in control triggering event as defined in such indenture . the company was in compliance with all non-financial covenants as of december 31 , 2017 . at december 31 , 2017 and 2016 , the company had $ 68.1 million and $ 3.2 million , respectively , of short-term debt outstanding .
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 Suspicious Activity Report : our end-market growth expectations include three to five percent growth in the oil and gas market , two to four percent growth in the electrical transmission and distribution , industrial , and residential markets , and one to three percent growth in the non-residential market . we expect acquisitions to contribute approximately 15 % to net sales growth in 2018 , including net sales growth from the acquisition of aclara . we expect reported earnings per diluted share for 2018 in the range of $ 6.10 to $ 6.50 and adjusted earnings per diluted share in the range of $ 6.95 to $ 7.35 ( 1 ) . finally , with our strong financial position and cash flows provided by operating activities , we expect to continue to enhance shareholder value through capital deployment . we expect free cash flow ( defined as cash flows from operating activities less capital expenditures ) to be equal to net income attributable to hubbell in 2018 . ( 1 ) effective with results of operations reported in the first quarter of 2018 , `` adjusted `` operating measures will no longer exclude restructuring and related costs , as these costs and the related savings are expected to return to a more consistent annual run-rate in 2018 , and therefore no longer affect the comparability of our underlying performance from period to period . our expectation for full year 2018 adjusted earnings per diluted share in the range of $ 6.95 to $ 7.35 excludes aclara acquisition-related and transaction costs . aclara acquisition-related costs include the amortization of identified intangible assets and inventory step-up amortization expense . results of operations our operations are classified into two reportable segments : electrical and power . for a complete description of the company 's segments , see part i , item 1 of this annual report on form 10-k. within these segments , hubbell serves customers in five primary end markets ; non-residential construction , residential construction , industrial , energy-related markets ( also referred to as oil and gas markets ) and utility markets ( also referred to as the electrical transmission and distribution market ) . in order of magnitude of net sales , the company 's served markets are non-residential construction , industrial , utility , oil and gas , and residential construction . growth of our five primary end markets was more consistent in 2017 as compared to recent years . higher margin businesses , such as our harsh and hazardous business , that declined in recent years experienced a recovery , and the gas market was strong , which complemented utility capital spend and storm-related activity that drove growth in electrical transmission and distribution markets . non-residential and residential market demand grew as well , but that growth was restrained by the lighting market , which experienced unit growth that was dampened by pricing headwinds . industrial markets were mixed , with declines in heavy industrial business , but improvement in telecommunications . with the return to more balanced growth and recovery of higher margin businesses , adjusted operating margin of our electrical segment has stabilized year over year , declining by only 30 basis points , while absorbing our investment in iot capabilities ( through the acquisition of idevices ) , restructuring-driven inefficiencies and pricing headwinds in our lighting business as well as material cost headwinds during the year . our power segment grew organic revenues by six percent , benefiting from growth in transmission and distribution markets , and adjusted operating margins in the power segment continued to be strong , expanding by 20 basis points as productivity drove improvement despite increasing material costs . hubbell incorporated - form 10-k 19 summary of consolidated results ( in millions , except per share data ) replace_table_token_4_th in the following discussion of results of operations , we refer to `` adjusted `` operating measures . we believe those adjusted measures , which exclude the impact of certain costs and gains , may provide investors with useful information regarding our underlying performance from period to period and allow investors to understand our results of operations without regard to items we do not consider a component of our core operating performance . the adjusted operating measures also provide useful information to understand the impact of the company 's restructuring and related activities and business transformation initiatives on its results of operations . management uses these adjusted measures when assessing the performance of the business . our adjusted operating measures exclude , where applicable , the following items , as shown in the reconciliations to the comparable gaap measures that follow . income tax expense associated with u.s. tax reform in 2017 , our consolidated results of operations include approximately $ 57 million of income tax expense associated with the tcja . our full year effective tax rate , which includes these income tax effects , was 43.6 % . as provided by sab 118 ( see note 1 — recent accounting pronouncements in the notes to consolidated financial statements ) , the company has included in the current period financial statements a provisional amount with respect to the deemed repatriation provisions of the tcja , the revaluation of u.s. deferred taxes and the u.s. and foreign tax costs associated with anticipated remittances related to certain of our outside basis differences . we have also included provisional amounts with respect to those states with current conformity to the internal revenue code . during the measurement period ( as defined in note 1 — significant accounting policies in the notes to consolidated financial statements ) , additional provisional amounts and adjustments to prior provisional amounts will be required as further guidance is issued and information is obtained , prepared and analyzed . these additional provisional amounts or adjustments to prior provisional amounts may be material . see note 12 — income taxes in the notes to consolidated financial statements for additional information . story_separator_special_tag the adjusted operating margin decreased primarily due to unfavorable product and business mix , pricing headwinds in our electrical segment , foreign exchange headwinds and cost increases that were greater than productivity gains . those unfavorable impacts to the adjusted operating margin were partially offset by realized savings from our restructuring and related actions and lower material costs . total other expense total other expense was $ 47.4 million in 2016 compared to $ 56.0 million in 2015. excluding reclassification costs that were incurred in 2015 , adjusted total other expense was $ 47.4 in 2016 compared to $ 36.3 million in 2015 and increased largely due to a $ 12.4 million increase in interest expense primarily related to the $ 400 million debt offering we completed in march 2016 . 24 hubbell incorporated - form 10-k income taxes the effective tax rate was 30.8 % in 2016 as compared to 32.6 % in 2015. the effective tax rate was higher in 2015 as compared to 2016 due to certain costs of the reclassification that were not deductible partially offset by international reorganization actions in 2015 as well as certain discrete items in 2016. additional information related to the company 's effective tax rate is included in note 12 — income taxes in the notes to consolidated financial statements . net income attributable to hubbell and earnings per diluted share net income attributable to hubbell was $ 293.0 million in 2016 and increased 6 % as compared to 2015. excluding restructuring and related costs and reclassification costs , adjusted net income attributable to hubbell was $ 316.8 million in 2016 and decreased 1 % as compared to 2015 , which reflects flat adjusted operating earnings , higher interest expense in 2016 , partially offset by the benefit of a lower effective tax rate as compared to 2015. earnings per diluted share in 2016 increased 10 % compared to 2015. adjusted earnings per diluted share in 2016 , increased 3 % and reflects a lower average number of diluted shares outstanding for the year , which declined by approximately 2.3 million as compared to 2015. segment results electrical segment replace_table_token_9_th net sales in the electrical segment were $ 2.5 billion , up three percent in 2016 as compared with 2015 due to the contribution of net sales from acquisitions . organic volume was higher , despite pricing headwinds , and was offset by the unfavorable impact of foreign currency translation . net sales were three percentage points higher due to the contribution of acquisitions . organic volume , including pricing headwinds , added one percentage point to net sales and foreign currency translation reduced net sales by one percentage point . within the segment , net sales of our lighting business group increased four percent in 2016 due to organic net sales growth of six percent , partially offset by a two percentage point headwind on pricing . within the lighting business group , organic net sales of residential lighting products increased by thirteen percent , partially offset by a three percentage point headwind on pricing , and commercial and industrial lighting products increased by four percent , partially offset by a two percentage point headwind on pricing . the aggregate net sales of our other business groups in the electrical segment increased by three percentage points , primarily due to five percentage points of net sales growth from acquisitions partially offset by two percentage points from foreign currency translation . the aggregate organic net sales volume of those other business groups was lower , by less than one percent , as lower net sales of products in industrial and energy-related markets , primarily our harsh and hazardous products , were almost entirely offset by net sales growth in construction-related businesses . operating income in the electrical segment for 2016 was $ 267.4 million and decreased four percent compared to 2015. operating margin in 2016 decreased by approximately 80 basis points to 10.9 % . excluding restructuring and related costs , the adjusted operating margin decreased by 90 basis points to 12.2 % in 2016. the decrease in the adjusted operating margin is primarily due to unfavorable product and business mix , foreign exchange headwinds , cost increases that were mostly offset by productivity gains , and pricing headwinds in our lighting business group . those unfavorable impacts were partially offset by realized savings from our restructuring and related actions and lower material costs . power segment replace_table_token_10_th net sales in the power segment were $ 1.0 billion , up four percent compared to 2015 , due to the contribution of net sales from acquisitions . organic volume and the impact of foreign currency translation were effectively flat , as organic volume increased by less than one percent and was offset by foreign currency headwinds of less than one percent . operating income in the power segment increased eight percent to $ 210.4 million in 2016. operating margin in 2016 increased by 60 basis points to 20.1 % . excluding restructuring and related costs , the adjusted operating margin in 2016 increased 30 basis points to 20.4 % . the increase in the adjusted operating margin is primarily due to favorable pricing and material costs , and productivity in excess of cost increases , including the reduction of an environmental liability in the fourth quarter of 2016 , partially offset by acquisitions , which increased operating income , but reduced operating margin by approximately 40 basis points . hubbell incorporated - form 10-k 25 financial condition , liquidity and capital resources cash flow replace_table_token_11_th comparable periods have been recast to reflect the adoption of the new accounting pronouncement for share-based payments ( asu 2016-09 ) as of january 1 , 2017. the following table reconciles our cash flows from operating activities to free cash flows for 2017 , 2016 and 2015 ( in millions ) : replace_table_token_12_th ( 1 ) free cash flow as a percent of net income attributable to

