and administrative expenses 1,945 total restructuring activities $ 11,443 the restructuring costs above may not indicative of expected costs or cost savings in future periods . as of march 31 , 2018 , we have $ 3.4 million and $ 0.5 million of restructuring liabilities related to the restructuring activities recorded in other accrued liabilities and other liabilities , respectively , in the consolidated balance sheet . federal income tax reform the tax cuts and jobs act ( the “ tax act ” ) was enacted on december 22 , 2017. the tax act significantly revises the future ongoing u.s. corporate income tax by , among other things , lowering the u. s. corporate income tax rate from 35 % to 21 % , full expensing on qualified property , eliminates the domestic manufacturing deduction and implements a territorial tax system . the 21 % u.s. corporate income tax rate is effective january 1 , 2018. based on the company 's fiscal year end of march 31 , the u.s. statutory federal rate is 31.5 % for the fiscal year ended march 31 , 2018. we currently estimate the provisional future effective tax rate will be in the range of 30 % to 32 % which is a decrease of 8 % to 10 % from our previous historical expectation . the company has recognized the provisional tax impacts related to revaluation of deferred tax assets and liabilities and deemed repatriated earnings and included these amounts in its financial statements for the year ended march 31 , 2018. the ultimate impact may differ from these provisional amounts , possibly materially , due to , among other things , additional analysis , changes in interpretations and assumptions the company has made , additional regulatory guidance that may be issued , and actions the company may take as a result of the tax act . the accounting is expected to be finalized when the fiscal 2018 u.s. corporate income tax return is filed . the company recognized an initial provisional amount for revaluing its deferred tax attributes resulting in a $ 14.7 million tax benefit for the quarter ended december 31 , 2017. on the basis of revised computations during the fourth quarter , we recognized an additional deferred tax benefit of $ 1.3 million for the quarter ended march 31 , 2018. a total deferred tax benefit of $ 16.0 million was recorded for the fiscal year ended march 31 , 2018. the company had an estimated $ 33.2 million of undistributed earnings on its foreign subsidiaries subject to the deemed mandatory repatriation . the company recognized an initial provisional $ 4.4 million of income tax expense for the quarter ended december 31 , 2017. after the utilization of existing foreign tax credits , the company 40 advanced drainage systems , inc. expected to pay additional u.s. federal taxes of approximately $ 0.9 million on the deemed mandatory repatriation as of the quarter ended december 31 , 2017. on the basis of revised undistributed earnings computations that were calculated during the fourth quarter , we recognized an additional measurement-period adjustment of $ 0.8 million to income tax expense for the quarter ended march 31 , 2018. a total transition tax expense of $ 5.2 million has been recorded for the fiscal year ended march 31 , 2018. after the utilization of existing foreign tax credits , the company expects to pay additional u.s. federal taxes of approximately $ 1.0 million as of the fiscal year ended march 31 , 2018. key factors affecting our results of operations product demand - there are numerous factors that influence demand for our products . our businesses are cyclical in nature and sensitive to general economic conditions , primarily in the united states , canada , mexico and south america . the non-residential , residential , agricultural and infrastructure markets we serve are affected by the availability of credit , lending practices , interest rates and unemployment rates . demand for new homes , farm income , commercial development and highway infrastructure spending have a direct impact on our financial condition and results of operations . accordingly , the following factors may have a direct impact on our business in the markets in which our products are sold : the strength of the economy ; the amount and type of non-residential and residential construction ; funding for infrastructure spending ; farm income and agricultural land values ; inventory of improved housing lots ; changes in raw material prices ; the availability and cost of credit ; non-residential occupancy rates ; commodity prices ; and demographic factors such as population growth and household formation . product pricing - the price of our products is impacted by competitive pricing dynamics in our industry as well as by raw material input costs . our industry is highly competitive and the sales prices for our products may vary based on the sales policies of our competitors . raw material costs represent a significant portion of the cost of goods sold for our pipe products , or pipe . we aim to increase our product selling prices in order to cover raw material price increases , but the inability to do so could impact our profitability . movements in raw material costs and resulting changes in the selling prices may also impact changes in period-to-period comparisons of net sales . material conversion - our hdpe and pp pipe and related water management product lines compete with other manufacturers of corrugated polyethylene pipe as well as manufacturers of alternative products made with traditional materials , such as concrete , steel and pvc . our net sales are driven by market trends , including the continued increase in adoption of thermoplastic corrugated pipe products as a replacement for traditional materials . thermoplastic corrugated pipe is generally lighter , more durable , more cost effective and easier to install than comparable products made from traditional materials . story_separator_special_tag in the fiscal year ended march 31 , 2017 , all stock options were liability-classified resulting in adjustments to fair value each period . loss on disposal of assets and costs from exit and disposal activities – in the fiscal year ended march 31 , 2018 , we recorded $ 11.4 million of expense related to restructuring activities , including closing four underutilized manufacturing facilities . in addition , we recorded a loss on other disposals and partial disposals of property , plant and equipment of approximately $ 3.6 million . see “ note 2. loss on disposal of assets and costs from exit and disposal activities ” for additional discussion . intangible amortization - intangible amortization remained relatively flat as a percentage of revenue in fiscal 2018 compared to fiscal 2017. interest expense - interest expense from our debt and capital lease obligations decreased $ 2.2 million or 12.6 % in fiscal 2018 as compared to fiscal 2017. interest expense decreased primarily due to our average overall outstanding debt decreasing by $ 25.0 million or 7.1 % for fiscal 2018 compared to the average balance outstanding for fiscal 2017. derivative gains and other income , net – derivative gains and other income , net , decreased to gains of $ 4.0 million in fiscal 2018 compared to gains of $ 6.0 million in fiscal 2017. the decrease in gain on derivative contracts is primarily due to a significant amount of the company 's propylene swaps maturing in fiscal 2017. the decrease in gain on derivative contracts was partially offset by changes in foreign currency exchange rates . income tax expense – for the fiscal years ended march 31 , 2018 and 2017 , we had effective tax rates of 14.8 % and 38.0 % , respectively . the decrease in the effective tax rate was primarily due to impact of the tax act and return to provision adjustments . see “ note 17. income taxes ” for additional information . equity in net loss of unconsolidated affiliates - equity in net loss of unconsolidated affiliates decreased $ 3.6 million over fiscal 2018 to a net loss of $ 0.7 million for fiscal 2018 compared to a net loss of $ 4.3 million during fiscal 2017. the net loss decreased primarily as a result of the $ 1.9 million gain recognized as a result of the contribution of outstanding receivables we made to the south american joint venture . see “ note 10. investment in unconsolidated affiliates ” for additional information . the decrease was also due to the $ 1.3 million impairment charge related to our investment in the south american joint venture in fiscal 2017 , which was partially offset by the $ 0.3 million impairment charge related to our investment in the tigre-ads usa in fiscal 2018. net income attributable to noncontrolling interest - income attributable to noncontrolling interest remained relatively flat as a percentage of revenue in fiscal 2018 compared to fiscal 2017 . 47 advanced drainage systems , inc. fiscal year ended march 31 , 2017 compared with fiscal year ended march 31 , 2016 the following table summarizes our operating results as a percentage of net sales that have been derived from our consolidated financial statements for the fiscal years ended march 31 , 2017 and 2016. we believe this presentation is useful to investors in comparing historical results . replace_table_token_12_th net sales - net sales totaled $ 1,257.3 million in fiscal 2017 , decreasing $ 33.4 million or 2.6 % , as compared to $ 1,290.7 million in fiscal 2016. replace_table_token_13_th our domestic sales decreased $ 11.6 million , or 1.0 % , as compared to fiscal 2016. domestic pipe sales decreased $ 25.5 million , or 3.1 % , which was primarily a result of volume decreases of $ 16.6 million and net price decreases of $ 8.8 million . the agriculture market has experienced continued sales decreases . allied product sales increased $ 14.0 million , or 4.6 % , as well as increased sales volume of products sold primarily into the non-residential and infrastructure end markets . 48 advanced drainage systems , inc. international sales decreased $ 21.9 million , or 12.4 % , to $ 155.0 million in fiscal year 2017 , as compared to $ 176.9 million in the prior year . the decrease in pipe sales resulted from a reduction in volumes of $ 15.1 million and net price decreases of $ 2.7 million . there was also a decrease in allied product sales of $ 4.5 million , or 12.1 % . cost of goods sold and gross profit - cost of goods sold decreased $ 43.9 million , or 4.4 % , to $ 961.5 million during year 2017 as compared to $ 1,005.3 million during fiscal 2016. gross profit increased $ 10.5 million , or 3.7 % , to $ 295.8 million from $ 285.4 million during fiscal 2016. gross profit as a percentage of net sales increased to 23.5 % in fiscal 2017 from 22.1 % in fiscal 2016. replace_table_token_14_th domestic gross profit increased $ 18.2 million , or 7.3 % , to $ 268.0 million for fiscal 2017 as compared to $ 249.8 million during fiscal 2016. the increase was primarily the result of lower raw material costs of $ 38.7 million due to decreased raw material prices . the increase was offset by the decrease in net sales discussed above , a $ 5.2 million increase in labor and overhead costs and a $ 3.5 million increase in transportation expenses . international gross profit decreased $ 7.7 million , or 21.7 % , for fiscal 2017 over fiscal 2016 primarily due to the decrease in sales discussed above and a $ 6.6 million increase in labor and overhead cost . the decreases were offset by a $ 17.2 million decrease in raw material due to decreased raw material cost and a $ 1.3 million decrease in transportation expenses . selling expenses

debt and capitalized lease obligations see “ note 5. leases ” and “ note 12. debt ” to our consolidated financial statements included in “ item 8. financial statements and supplementary data ” for a discussion of the company 's financing transactions , including the secured bank loans , the senior notes and the company 's capital lease obligations . financing transactions secured bank loans - on september 24 , 2010 , we entered into a credit agreement with pnc bank , national association , or pnc , as administrative agent , and lender parties thereto . the credit agreement , as amended and restated on june 12 , 2013 and subsequently further amended , provides for our bank term loans consisting of ( i ) the revolving credit facility providing for revolving loans and letters of credit of up to a maximum aggregate principal amount of $ 325 million , ( ii ) the term loan facility providing for the term loans in an aggregate original principal amount of $ 100 million , and ( iii ) the ads mexicana revolving credit facility , described below , which is more fully described in our fiscal 2017 form 10-k. on june 22 , 2017 , we entered into a second amended and restated credit agreement with pnc , which amends and restates the agreement dated as of june 12 , 2013 , to provide us a $ 550 million revolving credit facility , which is more fully described in “ note 12. debt ” to the consolidated financial statements .


 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 and capitalized lease obligations see “ note 5. leases ” and “ note 12. debt ” to our consolidated financial statements included in “ item 8. financial statements and supplementary data ” for a discussion of the company 's financing transactions , including the secured bank loans , the senior notes and the company 's capital lease obligations . financing transactions secured bank loans - on september 24 , 2010 , we entered into a credit agreement with pnc bank , national association , or pnc , as administrative agent , and lender parties thereto . the credit agreement , as amended and restated on june 12 , 2013 and subsequently further amended , provides for our bank term loans consisting of ( i ) the revolving credit facility providing for revolving loans and letters of credit of up to a maximum aggregate principal amount of $ 325 million , ( ii ) the term loan facility providing for the term loans in an aggregate original principal amount of $ 100 million , and ( iii ) the ads mexicana revolving credit facility , described below , which is more fully described in our fiscal 2017 form 10-k. on june 22 , 2017 , we entered into a second amended and restated credit agreement with pnc , which amends and restates the agreement dated as of june 12 , 2013 , to provide us a $ 550 million revolving credit facility , which is more fully described in “ note 12. debt ” to the consolidated financial statements .
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 Suspicious Activity Report : and administrative expenses 1,945 total restructuring activities $ 11,443 the restructuring costs above may not indicative of expected costs or cost savings in future periods . as of march 31 , 2018 , we have $ 3.4 million and $ 0.5 million of restructuring liabilities related to the restructuring activities recorded in other accrued liabilities and other liabilities , respectively , in the consolidated balance sheet . federal income tax reform the tax cuts and jobs act ( the “ tax act ” ) was enacted on december 22 , 2017. the tax act significantly revises the future ongoing u.s. corporate income tax by , among other things , lowering the u. s. corporate income tax rate from 35 % to 21 % , full expensing on qualified property , eliminates the domestic manufacturing deduction and implements a territorial tax system . the 21 % u.s. corporate income tax rate is effective january 1 , 2018. based on the company 's fiscal year end of march 31 , the u.s. statutory federal rate is 31.5 % for the fiscal year ended march 31 , 2018. we currently estimate the provisional future effective tax rate will be in the range of 30 % to 32 % which is a decrease of 8 % to 10 % from our previous historical expectation . the company has recognized the provisional tax impacts related to revaluation of deferred tax assets and liabilities and deemed repatriated earnings and included these amounts in its financial statements for the year ended march 31 , 2018. the ultimate impact may differ from these provisional amounts , possibly materially , due to , among other things , additional analysis , changes in interpretations and assumptions the company has made , additional regulatory guidance that may be issued , and actions the company may take as a result of the tax act . the accounting is expected to be finalized when the fiscal 2018 u.s. corporate income tax return is filed . the company recognized an initial provisional amount for revaluing its deferred tax attributes resulting in a $ 14.7 million tax benefit for the quarter ended december 31 , 2017. on the basis of revised computations during the fourth quarter , we recognized an additional deferred tax benefit of $ 1.3 million for the quarter ended march 31 , 2018. a total deferred tax benefit of $ 16.0 million was recorded for the fiscal year ended march 31 , 2018. the company had an estimated $ 33.2 million of undistributed earnings on its foreign subsidiaries subject to the deemed mandatory repatriation . the company recognized an initial provisional $ 4.4 million of income tax expense for the quarter ended december 31 , 2017. after the utilization of existing foreign tax credits , the company 40 advanced drainage systems , inc. expected to pay additional u.s. federal taxes of approximately $ 0.9 million on the deemed mandatory repatriation as of the quarter ended december 31 , 2017. on the basis of revised undistributed earnings computations that were calculated during the fourth quarter , we recognized an additional measurement-period adjustment of $ 0.8 million to income tax expense for the quarter ended march 31 , 2018. a total transition tax expense of $ 5.2 million has been recorded for the fiscal year ended march 31 , 2018. after the utilization of existing foreign tax credits , the company expects to pay additional u.s. federal taxes of approximately $ 1.0 million as of the fiscal year ended march 31 , 2018. key factors affecting our results of operations product demand - there are numerous factors that influence demand for our products . our businesses are cyclical in nature and sensitive to general economic conditions , primarily in the united states , canada , mexico and south america . the non-residential , residential , agricultural and infrastructure markets we serve are affected by the availability of credit , lending practices , interest rates and unemployment rates . demand for new homes , farm income , commercial development and highway infrastructure spending have a direct impact on our financial condition and results of operations . accordingly , the following factors may have a direct impact on our business in the markets in which our products are sold : the strength of the economy ; the amount and type of non-residential and residential construction ; funding for infrastructure spending ; farm income and agricultural land values ; inventory of improved housing lots ; changes in raw material prices ; the availability and cost of credit ; non-residential occupancy rates ; commodity prices ; and demographic factors such as population growth and household formation . product pricing - the price of our products is impacted by competitive pricing dynamics in our industry as well as by raw material input costs . our industry is highly competitive and the sales prices for our products may vary based on the sales policies of our competitors . raw material costs represent a significant portion of the cost of goods sold for our pipe products , or pipe . we aim to increase our product selling prices in order to cover raw material price increases , but the inability to do so could impact our profitability . movements in raw material costs and resulting changes in the selling prices may also impact changes in period-to-period comparisons of net sales . material conversion - our hdpe and pp pipe and related water management product lines compete with other manufacturers of corrugated polyethylene pipe as well as manufacturers of alternative products made with traditional materials , such as concrete , steel and pvc . our net sales are driven by market trends , including the continued increase in adoption of thermoplastic corrugated pipe products as a replacement for traditional materials . thermoplastic corrugated pipe is generally lighter , more durable , more cost effective and easier to install than comparable products made from traditional materials . story_separator_special_tag in the fiscal year ended march 31 , 2017 , all stock options were liability-classified resulting in adjustments to fair value each period . loss on disposal of assets and costs from exit and disposal activities – in the fiscal year ended march 31 , 2018 , we recorded $ 11.4 million of expense related to restructuring activities , including closing four underutilized manufacturing facilities . in addition , we recorded a loss on other disposals and partial disposals of property , plant and equipment of approximately $ 3.6 million . see “ note 2. loss on disposal of assets and costs from exit and disposal activities ” for additional discussion . intangible amortization - intangible amortization remained relatively flat as a percentage of revenue in fiscal 2018 compared to fiscal 2017. interest expense - interest expense from our debt and capital lease obligations decreased $ 2.2 million or 12.6 % in fiscal 2018 as compared to fiscal 2017. interest expense decreased primarily due to our average overall outstanding debt decreasing by $ 25.0 million or 7.1 % for fiscal 2018 compared to the average balance outstanding for fiscal 2017. derivative gains and other income , net – derivative gains and other income , net , decreased to gains of $ 4.0 million in fiscal 2018 compared to gains of $ 6.0 million in fiscal 2017. the decrease in gain on derivative contracts is primarily due to a significant amount of the company 's propylene swaps maturing in fiscal 2017. the decrease in gain on derivative contracts was partially offset by changes in foreign currency exchange rates . income tax expense – for the fiscal years ended march 31 , 2018 and 2017 , we had effective tax rates of 14.8 % and 38.0 % , respectively . the decrease in the effective tax rate was primarily due to impact of the tax act and return to provision adjustments . see “ note 17. income taxes ” for additional information . equity in net loss of unconsolidated affiliates - equity in net loss of unconsolidated affiliates decreased $ 3.6 million over fiscal 2018 to a net loss of $ 0.7 million for fiscal 2018 compared to a net loss of $ 4.3 million during fiscal 2017. the net loss decreased primarily as a result of the $ 1.9 million gain recognized as a result of the contribution of outstanding receivables we made to the south american joint venture . see “ note 10. investment in unconsolidated affiliates ” for additional information . the decrease was also due to the $ 1.3 million impairment charge related to our investment in the south american joint venture in fiscal 2017 , which was partially offset by the $ 0.3 million impairment charge related to our investment in the tigre-ads usa in fiscal 2018. net income attributable to noncontrolling interest - income attributable to noncontrolling interest remained relatively flat as a percentage of revenue in fiscal 2018 compared to fiscal 2017 . 47 advanced drainage systems , inc. fiscal year ended march 31 , 2017 compared with fiscal year ended march 31 , 2016 the following table summarizes our operating results as a percentage of net sales that have been derived from our consolidated financial statements for the fiscal years ended march 31 , 2017 and 2016. we believe this presentation is useful to investors in comparing historical results . replace_table_token_12_th net sales - net sales totaled $ 1,257.3 million in fiscal 2017 , decreasing $ 33.4 million or 2.6 % , as compared to $ 1,290.7 million in fiscal 2016. replace_table_token_13_th our domestic sales decreased $ 11.6 million , or 1.0 % , as compared to fiscal 2016. domestic pipe sales decreased $ 25.5 million , or 3.1 % , which was primarily a result of volume decreases of $ 16.6 million and net price decreases of $ 8.8 million . the agriculture market has experienced continued sales decreases . allied product sales increased $ 14.0 million , or 4.6 % , as well as increased sales volume of products sold primarily into the non-residential and infrastructure end markets . 48 advanced drainage systems , inc. international sales decreased $ 21.9 million , or 12.4 % , to $ 155.0 million in fiscal year 2017 , as compared to $ 176.9 million in the prior year . the decrease in pipe sales resulted from a reduction in volumes of $ 15.1 million and net price decreases of $ 2.7 million . there was also a decrease in allied product sales of $ 4.5 million , or 12.1 % . cost of goods sold and gross profit - cost of goods sold decreased $ 43.9 million , or 4.4 % , to $ 961.5 million during year 2017 as compared to $ 1,005.3 million during fiscal 2016. gross profit increased $ 10.5 million , or 3.7 % , to $ 295.8 million from $ 285.4 million during fiscal 2016. gross profit as a percentage of net sales increased to 23.5 % in fiscal 2017 from 22.1 % in fiscal 2016. replace_table_token_14_th domestic gross profit increased $ 18.2 million , or 7.3 % , to $ 268.0 million for fiscal 2017 as compared to $ 249.8 million during fiscal 2016. the increase was primarily the result of lower raw material costs of $ 38.7 million due to decreased raw material prices . the increase was offset by the decrease in net sales discussed above , a $ 5.2 million increase in labor and overhead costs and a $ 3.5 million increase in transportation expenses . international gross profit decreased $ 7.7 million , or 21.7 % , for fiscal 2017 over fiscal 2016 primarily due to the decrease in sales discussed above and a $ 6.6 million increase in labor and overhead cost . the decreases were offset by a $ 17.2 million decrease in raw material due to decreased raw material cost and a $ 1.3 million decrease in transportation expenses . selling expenses

