in addition , we may not consistently be able to anticipate consumer preferences and develop new and innovative products that meet changing preferences in a timely manner . furthermore , our industry is very competitive , and competition pressures could cause us to reduce the prices of our products or otherwise affect our profitability . we also rely on third-party suppliers and manufacturers outside the u.s. to provide fabrics and to produce our products , and disruptions to our supply chain could harm our business . for a more complete discussion of the risks facing our business , refer to the “ risk factors ” section included in item 1a . 28 recent developments on july 27 , 2017 , our board of directors approved a restructuring plan ( the “ 2017 restructuring plan ” ) to more closely align our financial resources with the critical priorities of our business . after completion of the 2017 restructuring plan , we recognized approximately $ 100.4 million of pre-tax charges in connection with this plan . in addition to these charges , we also recognized restructuring related goodwill impairment charges of approximately $ 28.7 million for our connected fitness business . on february 9 , 2018 , our board of directors approved an additional restructuring plan ( the `` 2018 restructuring plan `` ) identifying further opportunities to optimize operations . in conjunction with the 2018 restructuring plan , approximately $ 110 to $ 130 million of pre-tax restructuring and related charges are expected to be incurred during our 2018 fiscal year , including : up to $ 105.0 million in cash charges , consisting of up to : $ 55.0 million in facility and lease terminations and $ 50.0 million in contract termination and other restructuring charges ; and up to $ 25.0 million in non-cash charges comprised of approximately $ 10.0 million of inventory related charges and approximately $ 15.0 million of intangibles and other asset related impairments . the united states enacted the tax cuts and jobs act ( the “ tax act ” ) on december 22 , 2017. the new legislation contains several key tax provisions that affect us and , as required , we have included reasonable estimates of the income tax effects of the changes in tax law and tax rate in our 2017 financial results . these changes include a one-time mandatory transition tax on indefinitely reinvested foreign earnings and a re-measuring of deferred tax assets , resulting in an increase to our provision for income taxes of $ 38.8 million . since the tax act was passed late in the fourth quarter of 2017 , we consider the accounting for the transition tax , deferred tax re-measurements , and other items to be provisional as the charge may be adjusted due to changes in interpretations and assumptions we have made , guidance that may be issued , and actions we may take as a result of the tax legislation . we expect to finalize our estimates within the one-year measurement period allowed by the sec . general net revenues comprise net sales , license revenues and connected fitness revenues . net sales comprise sales from our primary product categories , which are apparel , footwear and accessories . our license revenues primarily consist of fees paid to us by our licensees in exchange for the use of our trademarks on their products . our connected fitness revenues consist of digital advertising , digital fitness platform licenses and subscriptions from our connected fitness business . cost of goods sold consists primarily of product costs , inbound freight and duty costs , outbound freight costs , handling costs to make products floor-ready to customer specifications , royalty payments to endorsers based on a predetermined percentage of sales of selected products and write downs for inventory obsolescence . the fabrics in many of our products are made primarily of petroleum-based synthetic materials . therefore our product costs , as well as our inbound and outbound freight costs , could be affected by long term pricing trends of oil . in general , as a percentage of net revenues , we expect cost of goods sold associated with our apparel and accessories to be lower than that of our footwear . a limited portion of cost of goods sold is associated with license and connected fitness revenues , primarily website hosting costs . we include outbound freight costs associated with shipping goods to customers as cost of goods sold ; however , we include the majority of outbound handling costs as a component of selling , general and administrative expenses . as a result , our gross profit may not be comparable to that of other companies that include outbound handling costs in their cost of goods sold . outbound handling costs include costs associated with preparing goods to ship to customers and certain costs to operate our distribution facilities . these costs were $ 101.5 million , $ 89.9 million and $ 63.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . our selling , general and administrative expenses consist of costs related to marketing , selling , product innovation and supply chain and corporate services . we consolidate our selling , general and administrative expenses into two primary categories : marketing and other , which includes our selling , product innovation and supply chain and corporate services categories . personnel costs are included in these categories based on the employees ' function . personnel costs include salaries , benefits , incentives and stock-based compensation related to our employees . our marketing costs are an important driver of our growth . marketing costs consist primarily of commercials , print ads , league , team , player and event sponsorships and depreciation expense specific to our in-store fixture program . story_separator_special_tag this increase in operating loss was offset by sales growth discussed above and reductions in incentive compensation . operating loss in our connected fitness segment decreased $ 24.5 million to $ 36.8 million in 2016 from $ 61.3 million in 2015 primarily driven by sales growth discussed above . 37 seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales . the level of our working capital generally reflects the seasonality and growth in our business . we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season . the following table sets forth certain financial information for the periods indicated . the data is prepared on the same basis as the audited consolidated financial statements included elsewhere in this form 10-k. all recurring , necessary adjustments are reflected in the data below : replace_table_token_14_th financial position , capital resources and liquidity our cash requirements have principally been for working capital and capital expenditures . we fund our working capital , primarily inventory , and capital investments from cash flows from operating activities , cash and cash equivalents on hand , borrowings available under our credit and long term debt facilities and the issuance of debt securities . our working capital requirements generally reflect the seasonality and growth in our business as we recognize the majority of our net revenues in the back half of the year . our capital investments have included expanding our in-store fixture and branded concept shop program , improvements and expansion of our distribution and corporate facilities to support our growth , leasehold improvements to our new brand and factory house stores , and investment and improvements in information technology systems . our inventory strategy is focused on continuing to meet consumer demand while improving our inventory efficiency over the long term by putting systems and processes in place to improve our inventory management . these systems and processes , including our new global operating and financial reporting information technology system , are designed to improve our forecasting and supply planning capabilities . in addition to systems and processes , key areas of focus that we believe will enhance inventory performance are added discipline around the purchasing of product , production lead time reduction , and better planning and execution in selling of excess inventory through our factory house stores and other liquidation channels . we believe our cash and cash equivalents on hand , cash from operations , borrowings available to us under our credit agreement and other financing instruments and our ability to access the capital markets are adequate to meet our liquidity needs and capital expenditure requirements for at least the next twelve months . although we believe we 38 have adequate sources of liquidity over the long term , an economic recession or a slow recovery could adversely affect our business and liquidity ( refer to the “ risk factors ” section included in item 1a ) . in addition , instability in or tightening of the capital markets could adversely affect our ability to obtain additional capital to grow our business on terms acceptable to us or at all . at december 31 , 2017 , $ 158.7 million , or approximately 50.8 % , of cash and cash equivalents was held by our foreign subsidiaries . based on the capital and liquidity needs of our foreign operations , we intend to indefinitely reinvest these funds outside the united states . in addition , our united states operations do not require the repatriation of these funds to meet our currently projected liquidity needs . should we require additional capital in the united states , we may elect to repatriate indefinitely reinvested foreign funds or raise capital in the united states . the tax act provided for a one-time transition tax on indefinitely reinvested foreign earnings to transition u.s. international taxation from a worldwide system to a modified territorial system . we recorded a provisional tax liability of $ 13.9 million relating to the one-time transition tax on our indefinitely reinvested foreign earnings . if we were to repatriate indefinitely reinvested foreign funds , we would not be subject to additional u.s. federal income tax , however , we would be required to accrue and pay any applicable withholding tax and u.s. state income tax liabilities and record foreign exchange rate impacts . cash flows the following table presents the major components of net cash flows used in and provided by operating , investing and financing activities for the periods presented : replace_table_token_15_th operating activities operating activities consist primarily of net income adjusted for certain non-cash items . adjustments to net income for non-cash items include depreciation and amortization , unrealized foreign currency exchange rate gains and losses , losses on disposals of property and equipment , stock-based compensation , deferred income taxes and changes in reserves and allowances . in addition , operating cash flows include the effect of changes in operating assets and liabilities , principally inventories , accounts receivable , income taxes payable and receivable , prepaid expenses and other assets , accounts payable and accrued expenses . cash flows provided by operating activities decreased $ 130.3 million to $ 234.1 million in 2017 from $ 364.4 million in 2016 . the decrease in cash from operating activities was primarily due to a decrease in net income of $ 305.2 million . this decrease was partially offset by a smaller decrease in accounts receivable of $ 170.1 million . cash flows provided by operating activities increased $ 349.8 million to $ 364.4 million in 2016 from $

cash used in investing activities decreased $ 98.2 million to $ 283.0 million in 2017 from $ 381.1 million in 2016 , primarily due lower capital expenditures in 2017. cash used in investing activities decreased $ 466.4 million to $ 381.1 million in 2016 from $ 847.5 million in 2015 , primarily due to the impact of our connected fitness acquisitions of myfitnesspal and endomondo which occurred during the first quarter of 2015. total capital expenditures were $ 274.9 million , $ 405.5 million , and $ 325.5 in 2017 , 2016 and 2015 , respectively . capital expenditures for 2018 are expected to be approximately $ 225.0 million . financing activities cash provided by financing activities decreased $ 39.4 million to $ 106.8 million in 2017 from $ 146.1 million in 2016 . this decrease was primarily due to lower borrowing on our revolving credit facility . cash provided by financing activities decreased $ 235.3 million to $ 146.1 million in 2016 from $ 381.4 million in 2015 . this decrease was primarily due to higher repayments on our revolving credit facility , partially offset by the issuance of senior notes in 2016 . credit facility we are party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021. as of december 31 , 2017 the outstanding balance under the revolving credit facility was $ 125.0 million and $ 161.3 million of term loan borrowings remained outstanding . at our request and the lender 's consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended . incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time we seek to incur such borrowings . the borrowings under the revolving credit facility have maturities of less than one year . up to $ 50.0 million of the facility may be used for the issuance of letters of credit .


 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.
     ```cash used in investing activities decreased $ 98.2 million to $ 283.0 million in 2017 from $ 381.1 million in 2016 , primarily due lower capital expenditures in 2017. cash used in investing activities decreased $ 466.4 million to $ 381.1 million in 2016 from $ 847.5 million in 2015 , primarily due to the impact of our connected fitness acquisitions of myfitnesspal and endomondo which occurred during the first quarter of 2015. total capital expenditures were $ 274.9 million , $ 405.5 million , and $ 325.5 in 2017 , 2016 and 2015 , respectively . capital expenditures for 2018 are expected to be approximately $ 225.0 million . financing activities cash provided by financing activities decreased $ 39.4 million to $ 106.8 million in 2017 from $ 146.1 million in 2016 . this decrease was primarily due to lower borrowing on our revolving credit facility . cash provided by financing activities decreased $ 235.3 million to $ 146.1 million in 2016 from $ 381.4 million in 2015 . this decrease was primarily due to higher repayments on our revolving credit facility , partially offset by the issuance of senior notes in 2016 . credit facility we are party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021. as of december 31 , 2017 the outstanding balance under the revolving credit facility was $ 125.0 million and $ 161.3 million of term loan borrowings remained outstanding . at our request and the lender 's consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended . incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time we seek to incur such borrowings . the borrowings under the revolving credit facility have maturities of less than one year . up to $ 50.0 million of the facility may be used for the issuance of letters of credit .
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 Suspicious Activity Report : in addition , we may not consistently be able to anticipate consumer preferences and develop new and innovative products that meet changing preferences in a timely manner . furthermore , our industry is very competitive , and competition pressures could cause us to reduce the prices of our products or otherwise affect our profitability . we also rely on third-party suppliers and manufacturers outside the u.s. to provide fabrics and to produce our products , and disruptions to our supply chain could harm our business . for a more complete discussion of the risks facing our business , refer to the “ risk factors ” section included in item 1a . 28 recent developments on july 27 , 2017 , our board of directors approved a restructuring plan ( the “ 2017 restructuring plan ” ) to more closely align our financial resources with the critical priorities of our business . after completion of the 2017 restructuring plan , we recognized approximately $ 100.4 million of pre-tax charges in connection with this plan . in addition to these charges , we also recognized restructuring related goodwill impairment charges of approximately $ 28.7 million for our connected fitness business . on february 9 , 2018 , our board of directors approved an additional restructuring plan ( the `` 2018 restructuring plan `` ) identifying further opportunities to optimize operations . in conjunction with the 2018 restructuring plan , approximately $ 110 to $ 130 million of pre-tax restructuring and related charges are expected to be incurred during our 2018 fiscal year , including : up to $ 105.0 million in cash charges , consisting of up to : $ 55.0 million in facility and lease terminations and $ 50.0 million in contract termination and other restructuring charges ; and up to $ 25.0 million in non-cash charges comprised of approximately $ 10.0 million of inventory related charges and approximately $ 15.0 million of intangibles and other asset related impairments . the united states enacted the tax cuts and jobs act ( the “ tax act ” ) on december 22 , 2017. the new legislation contains several key tax provisions that affect us and , as required , we have included reasonable estimates of the income tax effects of the changes in tax law and tax rate in our 2017 financial results . these changes include a one-time mandatory transition tax on indefinitely reinvested foreign earnings and a re-measuring of deferred tax assets , resulting in an increase to our provision for income taxes of $ 38.8 million . since the tax act was passed late in the fourth quarter of 2017 , we consider the accounting for the transition tax , deferred tax re-measurements , and other items to be provisional as the charge may be adjusted due to changes in interpretations and assumptions we have made , guidance that may be issued , and actions we may take as a result of the tax legislation . we expect to finalize our estimates within the one-year measurement period allowed by the sec . general net revenues comprise net sales , license revenues and connected fitness revenues . net sales comprise sales from our primary product categories , which are apparel , footwear and accessories . our license revenues primarily consist of fees paid to us by our licensees in exchange for the use of our trademarks on their products . our connected fitness revenues consist of digital advertising , digital fitness platform licenses and subscriptions from our connected fitness business . cost of goods sold consists primarily of product costs , inbound freight and duty costs , outbound freight costs , handling costs to make products floor-ready to customer specifications , royalty payments to endorsers based on a predetermined percentage of sales of selected products and write downs for inventory obsolescence . the fabrics in many of our products are made primarily of petroleum-based synthetic materials . therefore our product costs , as well as our inbound and outbound freight costs , could be affected by long term pricing trends of oil . in general , as a percentage of net revenues , we expect cost of goods sold associated with our apparel and accessories to be lower than that of our footwear . a limited portion of cost of goods sold is associated with license and connected fitness revenues , primarily website hosting costs . we include outbound freight costs associated with shipping goods to customers as cost of goods sold ; however , we include the majority of outbound handling costs as a component of selling , general and administrative expenses . as a result , our gross profit may not be comparable to that of other companies that include outbound handling costs in their cost of goods sold . outbound handling costs include costs associated with preparing goods to ship to customers and certain costs to operate our distribution facilities . these costs were $ 101.5 million , $ 89.9 million and $ 63.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . our selling , general and administrative expenses consist of costs related to marketing , selling , product innovation and supply chain and corporate services . we consolidate our selling , general and administrative expenses into two primary categories : marketing and other , which includes our selling , product innovation and supply chain and corporate services categories . personnel costs are included in these categories based on the employees ' function . personnel costs include salaries , benefits , incentives and stock-based compensation related to our employees . our marketing costs are an important driver of our growth . marketing costs consist primarily of commercials , print ads , league , team , player and event sponsorships and depreciation expense specific to our in-store fixture program . story_separator_special_tag this increase in operating loss was offset by sales growth discussed above and reductions in incentive compensation . operating loss in our connected fitness segment decreased $ 24.5 million to $ 36.8 million in 2016 from $ 61.3 million in 2015 primarily driven by sales growth discussed above . 37 seasonality historically , we have recognized a majority of our net revenues and a significant portion of our income from operations in the last two quarters of the year , driven primarily by increased sales volume of our products during the fall selling season , including our higher priced cold weather products , along with a larger proportion of higher margin direct to consumer sales . the level of our working capital generally reflects the seasonality and growth in our business . we generally expect inventory , accounts payable and certain accrued expenses to be higher in the second and third quarters in preparation for the fall selling season . the following table sets forth certain financial information for the periods indicated . the data is prepared on the same basis as the audited consolidated financial statements included elsewhere in this form 10-k. all recurring , necessary adjustments are reflected in the data below : replace_table_token_14_th financial position , capital resources and liquidity our cash requirements have principally been for working capital and capital expenditures . we fund our working capital , primarily inventory , and capital investments from cash flows from operating activities , cash and cash equivalents on hand , borrowings available under our credit and long term debt facilities and the issuance of debt securities . our working capital requirements generally reflect the seasonality and growth in our business as we recognize the majority of our net revenues in the back half of the year . our capital investments have included expanding our in-store fixture and branded concept shop program , improvements and expansion of our distribution and corporate facilities to support our growth , leasehold improvements to our new brand and factory house stores , and investment and improvements in information technology systems . our inventory strategy is focused on continuing to meet consumer demand while improving our inventory efficiency over the long term by putting systems and processes in place to improve our inventory management . these systems and processes , including our new global operating and financial reporting information technology system , are designed to improve our forecasting and supply planning capabilities . in addition to systems and processes , key areas of focus that we believe will enhance inventory performance are added discipline around the purchasing of product , production lead time reduction , and better planning and execution in selling of excess inventory through our factory house stores and other liquidation channels . we believe our cash and cash equivalents on hand , cash from operations , borrowings available to us under our credit agreement and other financing instruments and our ability to access the capital markets are adequate to meet our liquidity needs and capital expenditure requirements for at least the next twelve months . although we believe we 38 have adequate sources of liquidity over the long term , an economic recession or a slow recovery could adversely affect our business and liquidity ( refer to the “ risk factors ” section included in item 1a ) . in addition , instability in or tightening of the capital markets could adversely affect our ability to obtain additional capital to grow our business on terms acceptable to us or at all . at december 31 , 2017 , $ 158.7 million , or approximately 50.8 % , of cash and cash equivalents was held by our foreign subsidiaries . based on the capital and liquidity needs of our foreign operations , we intend to indefinitely reinvest these funds outside the united states . in addition , our united states operations do not require the repatriation of these funds to meet our currently projected liquidity needs . should we require additional capital in the united states , we may elect to repatriate indefinitely reinvested foreign funds or raise capital in the united states . the tax act provided for a one-time transition tax on indefinitely reinvested foreign earnings to transition u.s. international taxation from a worldwide system to a modified territorial system . we recorded a provisional tax liability of $ 13.9 million relating to the one-time transition tax on our indefinitely reinvested foreign earnings . if we were to repatriate indefinitely reinvested foreign funds , we would not be subject to additional u.s. federal income tax , however , we would be required to accrue and pay any applicable withholding tax and u.s. state income tax liabilities and record foreign exchange rate impacts . cash flows the following table presents the major components of net cash flows used in and provided by operating , investing and financing activities for the periods presented : replace_table_token_15_th operating activities operating activities consist primarily of net income adjusted for certain non-cash items . adjustments to net income for non-cash items include depreciation and amortization , unrealized foreign currency exchange rate gains and losses , losses on disposals of property and equipment , stock-based compensation , deferred income taxes and changes in reserves and allowances . in addition , operating cash flows include the effect of changes in operating assets and liabilities , principally inventories , accounts receivable , income taxes payable and receivable , prepaid expenses and other assets , accounts payable and accrued expenses . cash flows provided by operating activities decreased $ 130.3 million to $ 234.1 million in 2017 from $ 364.4 million in 2016 . the decrease in cash from operating activities was primarily due to a decrease in net income of $ 305.2 million . this decrease was partially offset by a smaller decrease in accounts receivable of $ 170.1 million . cash flows provided by operating activities increased $ 349.8 million to $ 364.4 million in 2016 from $

