the following transactions occurred in order to facilitate and as a result of the separation : ashland global holdings inc. replaced ashland inc. as the publicly held corporation and that , through its subsidiaries , conducts all of the operations previously operated by ashland inc. each outstanding share of ashland inc. common stock was converted into the right to receive one share of ashland global holdings inc. common stock . the exchange of ashland inc. common stock for shares of ashland global holdings inc. common stock was a tax-free transaction for ashland shareholders . on september 22 , 2016 , ashland and valvoline inc. announced the pricing of an initial public offering ( ipo ) of 30 million shares of valvoline inc. 's common stock at a price to the public of $ 22.00 per share and closed the ipo on september 28 , 2016. the underwriters exercised an option to purchase an additional 4.5 million shares of valvoline inc. 's common stock to cover over-allotments . after completing the ipo , ashland now owns 170 million shares of valvoline inc. 's common stock , representing approximately 83 % of the total outstanding shares of valvoline inc. 's common stock . valvoline inc. 's common stock is listed on the new york stock exchange under the symbol “ vvv ” . the total net proceeds after deducting underwriters ' discount and other offering expenses received from the ipo were $ 712 million . these net proceeds were used primarily to repay debt incurred prior to the ipo and retained for valvoline inc. 's cash on hand . ashland presently intends to distribute the remaining valvoline inc. shares in 2017 following the release of march-quarter earnings results by both ashland and valvoline inc. during 2016 , ashland recognized separation costs of $ 88 million , which are primarily related to transaction and legal fees . separation costs are primarily recorded within the selling , general and administrative expense caption of the statements of consolidated comprehensive income . transferring of assets and liabilities as of september 30 , 2016 valvoline inc. includes substantially all of the valvoline business as historically reported by ashland , as well as certain other assets and liabilities transferred to valvoline inc. by ashland as a part of the separation process . the largest transferred liabilities are the net pension and other postretirement plan liabilities , which include a substantial portion of the largest u.s. qualified pension plan and non-qualified u.s. pension plans . as of september 30 , 2016 , valvoline inc. 's net pension and other postretirement plan liabilities totaled approximately $ 900 million . other transferred assets and liabilities primarily consist of deferred compensation , certain ashland legacy business insurance reserves , tax attributes and certain trade payables . the impact of these other transferring assets and liabilities was approximately $ 15 million of net assets . additionally , any deferred tax assets and liabilities that relate specifically to these assets and liabilities have been transferred to valvoline inc. as well as certain other tax liabilities as a result of the tax matters agreement . for purposes of ashland 's 2016 segment reporting and consistent with prior periods , these transferred assets and liabilities remain included within unallocated and other . noncontrolling interest as a result of the valvoline inc. ipo , the outside stockholders ' interests in valvoline inc. , which was approximately 17 % as of september 30 , 2016 , are presented separately as a noncontrolling interest within ashland 's equity in the consolidated balance sheet . as of september 30 , 2016 , the noncontrolling interest was $ 182 million . the amount of consolidated net income attributable to these minority holders is presented as a separate caption on the statement of consolidated comprehensive income . m-2 financing activities amendment to ashland 2015 senior credit agreement during july 2016 , ashland amended the 2015 senior credit agreement to permit the reorganization and defined the series of events relating to the separation of valvoline inc. additionally , the amendment provided that if the aggregate principal amount of the valvoline debt reached $ 750 million , ashland would be required to use the net proceeds of such borrowings to repay its existing term loan a loan ( the 2015 term loan facility ) and or permanently reduce its existing revolving credit commitments under the 2015 senior credit agreement in an aggregate amount of up to $ 1 billion . as a result of the july 2016 amendment and the valvoline debt borrowings in connection with the separation , ashland reduced the revolving borrowing capacity to $ 800 million as of september 30 , 2016 . in september 2016 , following the valvoline financings described in the valvoline credit agreement section below , the ashland 2015 term loan facility was repaid in full . the repayment and combined ashland and valvoline financing activities during 2016 resulted in ashland 's recognition of $ 6 million in previously deferred financing costs , which is included in the net interest and other financing expense caption of the statements of consolidated comprehensive income . subsidiary senior unsecured term loan during august 2016 , a wholly owned foreign subsidiary of ashland entered into a credit agreement which provides for an aggregate principal amount of $ 150 million in a senior unsecured term loan facility maturing on february 15 , 2017. this term loan was drawn in full as of september 30 , 2016 . at the subsidiary 's option , loans issued under this term loan facility bear interest at either libor plus 1.75 % per annum or an alternate base rate plus 0.75 % per annum . the subsidiary may prepay the term loan facility after three months from the date it was drawn upon without any premium or penalty . story_separator_special_tag operating income includes ashland 's adjustment for the immediate recognition of the change in the fair value of the plan assets and net actuarial gains and losses for defined benefit pension plans and other postretirement benefit plans each fiscal year . see “ critical accounting policies ” for additional details regarding ashland 's accounting policies for benefit plan obligations . key financial results for 2016 , 2015 and 2014 included the following : ashland 's net income attributable to ashland amounted to a loss of $ 29 million in 2016 , and income of $ 309 million in 2015 and $ 233 million in 2014 , or $ ( 0.46 ) , $ 4.48 and $ 3.00 diluted earnings ( loss ) per share , respectively . ashland 's net income attributable to noncontrolling interest amounted to $ 1 million in 2016 and reflects the noncontrolling interest of valvoline inc. for the three days between ipo close ( september 28 , 2016 ) and ashland 's fiscal year end . discontinued operations , which are reported net of taxes , resulted in a loss of $ 31 million during 2016 , and income of $ 118 million and $ 161 million during 2015 and 2014 , respectively . income from continuing operations , which excludes results from discontinued operations , amounted to $ 3 million in 2016 , $ 191 million in 2015 and $ 72 million in 2014 . the effective income tax expense rate of 98 % for 2016 , income tax benefit rate of 13 % for 2015 , and income tax benefit rate of 162 % for 2014 , were significantly affected by a number of discrete items . ashland incurred pretax net interest and other financing expense of $ 182 million , $ 174 million and $ 166 million during 2016 , 2015 and 2014 , respectively . certain charges associated with debt refinancing activity impacted 2016 and 2015. net gain ( loss ) on divestitures totaled losses of $ 9 million and $ 115 million during 2016 and 2015 , respectively , and a gain of $ 4 million during 2014. m-6 operating income was $ 327 million , $ 458 million and $ 46 million during 2016 , 2015 and 2014 , respectively . for further information on the items reported above , see the discussion in the comparative statements of consolidated comprehensive income caption review analysis . operating income operating income amounted to $ 327 million , $ 458 million and $ 46 million in 2016 , 2015 and 2014 , respectively . the current and prior years ' operating income include certain key items that are excluded to arrive at adjusted ebitda . these key items are summarized as follows : $ 124 million , $ 255 million and $ 438 million related to pension and other postretirement plan remeasurement losses during 2016 , 2015 and 2014 , respectively , from the immediate recognition from the change in fair value of the plan assets and net actuarial gains and losses for defined benefit pension plans and other postretirement plans ; $ 181 million impairment related to intermediates/solvents within the performance materials reportable segment during 2016 ; separation , restructuring and other costs , net , include the following : ◦ $ 88 million of costs related to the separation of valvoline during 2016 , including $ 2 million of accelerated depreciation ; ◦ $ 7 million of restructuring costs ( including $ 4 million of accelerated depreciation , a $ 5 million income adjustment to the previously recorded accrual for a restructuring plan within an existing manufacturing facility , $ 4 million of charges related to the exit from a toller agreement and restructuring of a manufacturing facility , and $ 4 million of charges related to the restructuring of office buildings ) during 2016 ; ◦ $ 27 million of restructuring costs ( including $ 6 million of accelerated depreciation and $ 17 million related to the restructuring plan within an existing manufacturing facility ) during 2015 ; and ◦ $ 147 million of restructuring and integration costs ( including $ 17 million of accelerated depreciation and $ 19 million in asset impairment charges related to a foreign operation ) during 2014 . $ 15 million , $ 12 million and $ 13 million net environmental charges during 2016 , 2015 and 2014 , respectively ; $ 11 million of income related to a legacy benefit for former directors during 2016 ; $ 15 million and $ 5 million charges for legal reserves during 2016 and 2014 , respectively ; a $ 14 million impairment related to the valvoline joint venture equity investment within venezuela during 2015 and a $ 50 million impairment charge related to the ask joint venture equity investment during 2014 ; $ 11 million and $ 13 million impairment charges related to certain in-process research and development ( ipr & d ) assets associated with the acquisition of international specialty products inc. ( isp ) in 2011 during 2015 and 2014 , respectively ; $ 13 million charge related to a customer claim during 2015 and a subsequent $ 5 million income adjustment to the customer claim during 2016 ; $ 16 million of tax indemnity income and a $ 7 million charge for a stock incentive plan award modification , each during 2015 ; and a $ 5 million charge for a foreign tax indemnification receivable adjustment during 2014. operating income for 2016 , 2015 and 2014 included depreciation and amortization of $ 337 million , $ 341 million and $ 393 million , respectively ( which includes asset impairment charges and accelerated depreciation of $ 6 million , $ 6 million and $ 36 million , respectively , for each year ) . ebitda and adjusted ebitda ebitda totaled $ 618 million , $ 796 million and $ 568 million for 2016 , 2015 and 2014 , respectively . ebitda and adjusted ebitda results

debt the following summary reflects ashland 's debt as of september 30 , 2016 and 2015 . replace_table_token_124_th ( a ) includes $ 29 million and $ 28 million of debt issuance cost discounts as of september 30 , 2016 and 2015 , respectively . the current portion of long-term debt was $ 19 million at september 30 , 2016 and $ 55 million at september 30 , 2015 . debt as a percent of capital employed was 51 % at september 30 , 2016 and 55 % at september 30 , 2015 . at september 30 , 2016 , ashland 's total debt had an outstanding principal balance of $ 3,419 million , discounts of $ 146 million , and debt issuance costs of $ 29 million . the scheduled aggregate maturities of long-term debt for the next five fiscal years ( including the current portion and excluding debt issuance costs ) are as follows : $ 19 million in 2017 , $ 719 million in 2018 , $ 43 million in 2019 , $ 38 million in 2020 and $ 263 million in 2021 . ashland financing activities ashland financing activities during 2016 during july 2016 , ashland amended the 2015 senior credit agreement to permit the reorganization and the series of events relating to the separation of valvoline inc. additionally , the amendment provided that if the aggregate principal amount of the valvoline debt reaches $ 750 million , ashland would be required to use the net proceeds of such borrowings to repay its existing 2015 term loan facility and or permanently reduce its existing revolving credit commitments under the 2015 senior credit agreement in an aggregate amount of up to $ 1 billion . as a result of the july 2016 amendment and the valvoline debt borrowings in connection with the separation , ashland reduced its revolving borrowing capacity to $ 800 million as of september 30 , 2016 .


 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 the following summary reflects ashland 's debt as of september 30 , 2016 and 2015 . replace_table_token_124_th ( a ) includes $ 29 million and $ 28 million of debt issuance cost discounts as of september 30 , 2016 and 2015 , respectively . the current portion of long-term debt was $ 19 million at september 30 , 2016 and $ 55 million at september 30 , 2015 . debt as a percent of capital employed was 51 % at september 30 , 2016 and 55 % at september 30 , 2015 . at september 30 , 2016 , ashland 's total debt had an outstanding principal balance of $ 3,419 million , discounts of $ 146 million , and debt issuance costs of $ 29 million . the scheduled aggregate maturities of long-term debt for the next five fiscal years ( including the current portion and excluding debt issuance costs ) are as follows : $ 19 million in 2017 , $ 719 million in 2018 , $ 43 million in 2019 , $ 38 million in 2020 and $ 263 million in 2021 . ashland financing activities ashland financing activities during 2016 during july 2016 , ashland amended the 2015 senior credit agreement to permit the reorganization and the series of events relating to the separation of valvoline inc. additionally , the amendment provided that if the aggregate principal amount of the valvoline debt reaches $ 750 million , ashland would be required to use the net proceeds of such borrowings to repay its existing 2015 term loan facility and or permanently reduce its existing revolving credit commitments under the 2015 senior credit agreement in an aggregate amount of up to $ 1 billion . as a result of the july 2016 amendment and the valvoline debt borrowings in connection with the separation , ashland reduced its revolving borrowing capacity to $ 800 million as of september 30 , 2016 .
```    
 Suspicious Activity Report : the following transactions occurred in order to facilitate and as a result of the separation : ashland global holdings inc. replaced ashland inc. as the publicly held corporation and that , through its subsidiaries , conducts all of the operations previously operated by ashland inc. each outstanding share of ashland inc. common stock was converted into the right to receive one share of ashland global holdings inc. common stock . the exchange of ashland inc. common stock for shares of ashland global holdings inc. common stock was a tax-free transaction for ashland shareholders . on september 22 , 2016 , ashland and valvoline inc. announced the pricing of an initial public offering ( ipo ) of 30 million shares of valvoline inc. 's common stock at a price to the public of $ 22.00 per share and closed the ipo on september 28 , 2016. the underwriters exercised an option to purchase an additional 4.5 million shares of valvoline inc. 's common stock to cover over-allotments . after completing the ipo , ashland now owns 170 million shares of valvoline inc. 's common stock , representing approximately 83 % of the total outstanding shares of valvoline inc. 's common stock . valvoline inc. 's common stock is listed on the new york stock exchange under the symbol “ vvv ” . the total net proceeds after deducting underwriters ' discount and other offering expenses received from the ipo were $ 712 million . these net proceeds were used primarily to repay debt incurred prior to the ipo and retained for valvoline inc. 's cash on hand . ashland presently intends to distribute the remaining valvoline inc. shares in 2017 following the release of march-quarter earnings results by both ashland and valvoline inc. during 2016 , ashland recognized separation costs of $ 88 million , which are primarily related to transaction and legal fees . separation costs are primarily recorded within the selling , general and administrative expense caption of the statements of consolidated comprehensive income . transferring of assets and liabilities as of september 30 , 2016 valvoline inc. includes substantially all of the valvoline business as historically reported by ashland , as well as certain other assets and liabilities transferred to valvoline inc. by ashland as a part of the separation process . the largest transferred liabilities are the net pension and other postretirement plan liabilities , which include a substantial portion of the largest u.s. qualified pension plan and non-qualified u.s. pension plans . as of september 30 , 2016 , valvoline inc. 's net pension and other postretirement plan liabilities totaled approximately $ 900 million . other transferred assets and liabilities primarily consist of deferred compensation , certain ashland legacy business insurance reserves , tax attributes and certain trade payables . the impact of these other transferring assets and liabilities was approximately $ 15 million of net assets . additionally , any deferred tax assets and liabilities that relate specifically to these assets and liabilities have been transferred to valvoline inc. as well as certain other tax liabilities as a result of the tax matters agreement . for purposes of ashland 's 2016 segment reporting and consistent with prior periods , these transferred assets and liabilities remain included within unallocated and other . noncontrolling interest as a result of the valvoline inc. ipo , the outside stockholders ' interests in valvoline inc. , which was approximately 17 % as of september 30 , 2016 , are presented separately as a noncontrolling interest within ashland 's equity in the consolidated balance sheet . as of september 30 , 2016 , the noncontrolling interest was $ 182 million . the amount of consolidated net income attributable to these minority holders is presented as a separate caption on the statement of consolidated comprehensive income . m-2 financing activities amendment to ashland 2015 senior credit agreement during july 2016 , ashland amended the 2015 senior credit agreement to permit the reorganization and defined the series of events relating to the separation of valvoline inc. additionally , the amendment provided that if the aggregate principal amount of the valvoline debt reached $ 750 million , ashland would be required to use the net proceeds of such borrowings to repay its existing term loan a loan ( the 2015 term loan facility ) and or permanently reduce its existing revolving credit commitments under the 2015 senior credit agreement in an aggregate amount of up to $ 1 billion . as a result of the july 2016 amendment and the valvoline debt borrowings in connection with the separation , ashland reduced the revolving borrowing capacity to $ 800 million as of september 30 , 2016 . in september 2016 , following the valvoline financings described in the valvoline credit agreement section below , the ashland 2015 term loan facility was repaid in full . the repayment and combined ashland and valvoline financing activities during 2016 resulted in ashland 's recognition of $ 6 million in previously deferred financing costs , which is included in the net interest and other financing expense caption of the statements of consolidated comprehensive income . subsidiary senior unsecured term loan during august 2016 , a wholly owned foreign subsidiary of ashland entered into a credit agreement which provides for an aggregate principal amount of $ 150 million in a senior unsecured term loan facility maturing on february 15 , 2017. this term loan was drawn in full as of september 30 , 2016 . at the subsidiary 's option , loans issued under this term loan facility bear interest at either libor plus 1.75 % per annum or an alternate base rate plus 0.75 % per annum . the subsidiary may prepay the term loan facility after three months from the date it was drawn upon without any premium or penalty . story_separator_special_tag operating income includes ashland 's adjustment for the immediate recognition of the change in the fair value of the plan assets and net actuarial gains and losses for defined benefit pension plans and other postretirement benefit plans each fiscal year . see “ critical accounting policies ” for additional details regarding ashland 's accounting policies for benefit plan obligations . key financial results for 2016 , 2015 and 2014 included the following : ashland 's net income attributable to ashland amounted to a loss of $ 29 million in 2016 , and income of $ 309 million in 2015 and $ 233 million in 2014 , or $ ( 0.46 ) , $ 4.48 and $ 3.00 diluted earnings ( loss ) per share , respectively . ashland 's net income attributable to noncontrolling interest amounted to $ 1 million in 2016 and reflects the noncontrolling interest of valvoline inc. for the three days between ipo close ( september 28 , 2016 ) and ashland 's fiscal year end . discontinued operations , which are reported net of taxes , resulted in a loss of $ 31 million during 2016 , and income of $ 118 million and $ 161 million during 2015 and 2014 , respectively . income from continuing operations , which excludes results from discontinued operations , amounted to $ 3 million in 2016 , $ 191 million in 2015 and $ 72 million in 2014 . the effective income tax expense rate of 98 % for 2016 , income tax benefit rate of 13 % for 2015 , and income tax benefit rate of 162 % for 2014 , were significantly affected by a number of discrete items . ashland incurred pretax net interest and other financing expense of $ 182 million , $ 174 million and $ 166 million during 2016 , 2015 and 2014 , respectively . certain charges associated with debt refinancing activity impacted 2016 and 2015. net gain ( loss ) on divestitures totaled losses of $ 9 million and $ 115 million during 2016 and 2015 , respectively , and a gain of $ 4 million during 2014. m-6 operating income was $ 327 million , $ 458 million and $ 46 million during 2016 , 2015 and 2014 , respectively . for further information on the items reported above , see the discussion in the comparative statements of consolidated comprehensive income caption review analysis . operating income operating income amounted to $ 327 million , $ 458 million and $ 46 million in 2016 , 2015 and 2014 , respectively . the current and prior years ' operating income include certain key items that are excluded to arrive at adjusted ebitda . these key items are summarized as follows : $ 124 million , $ 255 million and $ 438 million related to pension and other postretirement plan remeasurement losses during 2016 , 2015 and 2014 , respectively , from the immediate recognition from the change in fair value of the plan assets and net actuarial gains and losses for defined benefit pension plans and other postretirement plans ; $ 181 million impairment related to intermediates/solvents within the performance materials reportable segment during 2016 ; separation , restructuring and other costs , net , include the following : ◦ $ 88 million of costs related to the separation of valvoline during 2016 , including $ 2 million of accelerated depreciation ; ◦ $ 7 million of restructuring costs ( including $ 4 million of accelerated depreciation , a $ 5 million income adjustment to the previously recorded accrual for a restructuring plan within an existing manufacturing facility , $ 4 million of charges related to the exit from a toller agreement and restructuring of a manufacturing facility , and $ 4 million of charges related to the restructuring of office buildings ) during 2016 ; ◦ $ 27 million of restructuring costs ( including $ 6 million of accelerated depreciation and $ 17 million related to the restructuring plan within an existing manufacturing facility ) during 2015 ; and ◦ $ 147 million of restructuring and integration costs ( including $ 17 million of accelerated depreciation and $ 19 million in asset impairment charges related to a foreign operation ) during 2014 . $ 15 million , $ 12 million and $ 13 million net environmental charges during 2016 , 2015 and 2014 , respectively ; $ 11 million of income related to a legacy benefit for former directors during 2016 ; $ 15 million and $ 5 million charges for legal reserves during 2016 and 2014 , respectively ; a $ 14 million impairment related to the valvoline joint venture equity investment within venezuela during 2015 and a $ 50 million impairment charge related to the ask joint venture equity investment during 2014 ; $ 11 million and $ 13 million impairment charges related to certain in-process research and development ( ipr & d ) assets associated with the acquisition of international specialty products inc. ( isp ) in 2011 during 2015 and 2014 , respectively ; $ 13 million charge related to a customer claim during 2015 and a subsequent $ 5 million income adjustment to the customer claim during 2016 ; $ 16 million of tax indemnity income and a $ 7 million charge for a stock incentive plan award modification , each during 2015 ; and a $ 5 million charge for a foreign tax indemnification receivable adjustment during 2014. operating income for 2016 , 2015 and 2014 included depreciation and amortization of $ 337 million , $ 341 million and $ 393 million , respectively ( which includes asset impairment charges and accelerated depreciation of $ 6 million , $ 6 million and $ 36 million , respectively , for each year ) . ebitda and adjusted ebitda ebitda totaled $ 618 million , $ 796 million and $ 568 million for 2016 , 2015 and 2014 , respectively . ebitda and adjusted ebitda results

