these estimates are based on management 's historical industry experience and on various other assumptions that are believed to be reasonable under the circumstances . on a regular basis , we evaluate these accounting policies , assumptions , estimates and judgments to ensure that our financial statements are presented fairly and in accordance with gaap . however , because future events and their effects can not be determined with certainty , actual results may differ from our estimates , and such differences could be material . a full discussion of our significant accounting policies is contained in note 2 to our consolidated financial statements , which is included in item 8 – “ financial statements and supplementary data ” of this report . we believe that the following accounting estimates are the most critical to aid in fully understanding and evaluating our financial results . these estimates require our most difficult , subjective or complex judgments because they relate to matters that are inherently uncertain . we have reviewed these critical accounting policies and estimates and related disclosures with our audit committee . long-lived assets we review long-lived assets , such as property and equipment , and intangible assets subject to amortization , for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable . these events or changes in circumstances include , but are not limited to , significant underperformance relative to historical or projected future operating results , significant changes in the manner of use of the acquired assets or the strategy for the overall business , and significant negative industry or economic trends . recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset group to the estimated undiscounted cash flows over the estimated remaining useful life of the asset group . if the asset group is not recoverable , the impairment loss is calculated as the excess of the carrying value over the fair value . we define our asset group as an operating club or restaurant location , which is also our reporting unit or the lowest level for which cash flows can be identified . assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell , and are no longer depreciated . during the fourth quarter of fiscal 2017 , we impaired one club by $ 385,000 , and during the fourth quarter of fiscal 2016 , we impaired one property held for sale by $ 1.4 million . investment during the fourth quarter of fiscal 2017 , we also fully impaired our remaining investment in drink robust amounting to $ 1.2 million . goodwill and other intangible assets goodwill and other intangible assets that have indefinite useful lives are tested annually for impairment during our fourth fiscal quarter , and are tested for impairment more frequently if events and circumstances indicate that the asset might be impaired . 24 our impairment calculations require management to make assumptions and to apply judgment in order to estimate fair values . if our actual results are not consistent with our estimates and assumptions , we may be exposed to impairments that could be material . we do not believe that there is a reasonable likelihood that there will be a material change in the estimates or assumptions we used to calculate impairment charges . for our goodwill impairment review , we first perform a qualitative assessment to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying value . this assessment is based on several factors , including industry and market conditions , overall financial performance , including an assessment of cash flows in comparison to actual and projected results of prior periods . if it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying value based on our qualitative analysis , we perform a step 1 analysis to determine the fair value of the reporting unit . the fair value is determined using market-related valuation models , including earnings multiples , discounted cash flows , and comparable asset market values . as detailed within note 2 of our consolidated financial statements , we adopted asu 2017-04 , intangibles – goodwill and other ( topic 350 ) : simplifying the test for goodwill impairment , during q4 of 2017 , and accordingly , we recognize goodwill impairment in the amount that the carrying value of the reporting unit exceeds the fair value of the reporting unit , not to exceed the amount of goodwill allocated to the reporting unit , based on the results of our step 1 analysis . for the year ended september 30 , 2017 , we identified four reporting units that were impaired and recognized a goodwill impairment loss totaling $ 4.7 million . for indefinite-lived intangibles , specifically sob licenses , we determine fair value by estimating the multiperiod excess earnings of the asset . for indefinite-lived tradename , we determine fair value by using the relief from royalty method . the fair value is then compared to the carrying value and an impairment charge is recognized by the amount by which the carrying amount exceeds the fair value of the asset . we recorded impairment charges for sob licenses amounting to $ 1.4 million for 2017 , $ 2.1 million for 2016 and $ 1.7 million for 2015 , related to two clubs in 2017 , one club in 2016 and two clubs in 2015. income taxes we estimate certain components of our provision for income taxes . story_separator_special_tag we exclude from non-gaap net income and non-gaap net income per diluted share amortization of intangibles , gain on settlement of patron tax case , income tax expense , impairment charges , gain on acquisition of controlling interest in subsidiary , gains or losses on sale of assets , stock-based compensation , and settlement of lawsuits , and include the non-gaap provision for current and deferred income taxes , calculated as the tax effect at 37 % , 35 % and 35 % in 2017 , 2016 and 2015 , respectively , effective tax rate of the pre-tax non-gaap income before taxes , because we believe that excluding and including such items help management and investors better understand our operating activities . adjusted ebitda . we exclude from adjusted ebitda depreciation expense , amortization of intangibles , impairment of assets , income taxes , interest expense , interest income , gains or losses on sale of assets , settlement of lawsuits , gain on settlement of patron tax case , and gain on acquisition of controlling interest in subsidiary because we believe that adjusting for such items helps management and investors better understand our operating activities . adjusted ebitda provides a core operational performance measurement that compares results without the need to adjust for federal , state and local taxes which have considerable variation between domestic jurisdictions . the results are , therefore , without consideration of financing alternatives of capital employed . we use adjusted ebitda as one guideline to assess the unleveraged performance return on our investments . adjusted ebitda is also the target benchmark for our acquisitions of nightclubs . we also use certain non-gaap cash flow measures such as free cash . see “ liquidity and capital resources ” section for further discussion . 33 the following tables present our non-gaap performance measures for the periods indicated ( in thousands , except per share amounts and percentages ) : replace_table_token_16_th 34 replace_table_token_17_th * per share amounts and percentages may not foot due to rounding . 35 the adjustments to reconcile net income attributable to rcihh common shareholders to non-gaap net income exclude the impact of adjustments related to noncontrolling interests , which is immaterial . in the calculation of non-gaap diluted net income per share , we take into consideration the adjustment to net income from assumed conversion of debentures ( see note 2 to the consolidated financial statements ) . liquidity and capital resources we believe our ability to generate cash from operating activities is one of our fundamental financial strengths . the near-term outlook for our business remains strong , and we expect to generate substantial cash flows from operations in fiscal 2018. as a result of our expected cash flows from operations , we have significant flexibility to meet our financial commitments . the company has not recently raised capital through the issuance of equity securities . instead , we use debt financing to lower our overall cost of capital and increase our return on stockholders ' equity . we have a history of borrowing funds in private transactions and from sellers in acquisition transactions and continue to have the ability to borrow funds at reasonable interest rates in that manner . we also have historically utilized these cash flows to invest in property and equipment , adult nightclubs and restaurants/sports bars . as of september 30 , 2017 , we had negative working capital of $ 10.6 million ( excluding the impact of assets held for sale amounting to $ 5.8 million ) compared to negative working capital of $ 5.3 million as of september 30 , 2016 ( excluding the impact of assets held for sale amounting to $ 7.7 million ) . the decrease in working capital is principally due to the following items : ● operating cash flow for the year ; ● increase in current portion of long-term debt ; and ● partially offset by a net increase in current assets , excluding cash , mainly from prepaid income taxes and insurance . we believe that our current sources of liquidity and capital will be sufficient to finance our continued operations and growth plans not only within the next 12 months , but for the next 18 to 24 months . refer to sections on debt financing and contractual obligations and commitments below for a discussion of long-term liquidity and capital resources . 36 cash flows from operating activities following are our summarized cash flows from operating activities ( in thousands ) : replace_table_token_18_th net cash flows from operating activities decreased from 2016 to 2017 due to a decrease in working capital caused by year-end vendor payments , higher income taxes and higher interest expense paid in 2017 ; while net cash flows from operating activities increased from 2015 to 2016 due to lower income taxes paid and higher pre-tax income partially offset by higher interest expense paid in 2016. cash flows from investing activities following are our summarized cash flows from investing activities ( in thousands ) : replace_table_token_19_th we opened five new units in 2017 ( including two acquired and one reconcepted from a bombshells to a club ) ; reconcepted one club and acquired one club in 2016 ; and opened two clubs ( including one acquired ) in 2015. we also constructed and moved to a new corporate office in 2016. following is a reconciliation of our additions to property and equipment for the years ended september 30 , 2017 , 2016 and 2015 ( in thousands ) : replace_table_token_20_th 37 cash flows from financing activities following are our summarized cash flows from financing activities ( in thousands ) : replace_table_token_21_th we purchased treasury stock representing 89,685 shares , 747,081 shares and 225,280 shares in 2017 , 2016 and 2015 , respectively . during the second quarter of 2016 , we started paying quarterly dividends in the amount of $ 0.03 per share . see note 8 to our consolidated financial statements for a

debt financing see note 8 to our consolidated financial statements for detail regarding our long-term debt activity and note 20 discussing the refinancing of our long-term debt . 38 contractual obligations and commitments we have long-term contractual obligations primarily in the form of debt obligations and operating leases . the following table ( in thousands ) summarizes our contractual obligations and their aggregate maturities as well as future minimum rent payments . future interest payments related to variable interest rate debt were estimated using the interest rate in effect at september 30 , 2017. replace_table_token_24_th ( a ) we have $ 865,000 of uncertain tax positions recorded in accrued liabilities . it is expected that these assessments will be settled within the next twelve months . see note 9 to our consolidated financial statements . ( b ) on december 22 , 2017 , the tax cuts and jobs act was enacted into law ( the “ act ” ) . the act provides , among others , the reduction of the statutory corporate income tax rate from 35 % to 21 % effective january 1 , 2018. on december 14 , 2017 , the company entered into a loan agreement ( “ new loan ” ) with a bank for $ 81.2 million . the new loan fully refinances 20 of the company 's notes payable and partially pays down 1 note payable ( collectively , “ repaid notes ” ) with interest rates ranging from 5 % to 12 % covering 43 parcels of real properties the company previously acquired ( “ properties ” ) .


 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 financing see note 8 to our consolidated financial statements for detail regarding our long-term debt activity and note 20 discussing the refinancing of our long-term debt . 38 contractual obligations and commitments we have long-term contractual obligations primarily in the form of debt obligations and operating leases . the following table ( in thousands ) summarizes our contractual obligations and their aggregate maturities as well as future minimum rent payments . future interest payments related to variable interest rate debt were estimated using the interest rate in effect at september 30 , 2017. replace_table_token_24_th ( a ) we have $ 865,000 of uncertain tax positions recorded in accrued liabilities . it is expected that these assessments will be settled within the next twelve months . see note 9 to our consolidated financial statements . ( b ) on december 22 , 2017 , the tax cuts and jobs act was enacted into law ( the “ act ” ) . the act provides , among others , the reduction of the statutory corporate income tax rate from 35 % to 21 % effective january 1 , 2018. on december 14 , 2017 , the company entered into a loan agreement ( “ new loan ” ) with a bank for $ 81.2 million . the new loan fully refinances 20 of the company 's notes payable and partially pays down 1 note payable ( collectively , “ repaid notes ” ) with interest rates ranging from 5 % to 12 % covering 43 parcels of real properties the company previously acquired ( “ properties ” ) .
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 Suspicious Activity Report : these estimates are based on management 's historical industry experience and on various other assumptions that are believed to be reasonable under the circumstances . on a regular basis , we evaluate these accounting policies , assumptions , estimates and judgments to ensure that our financial statements are presented fairly and in accordance with gaap . however , because future events and their effects can not be determined with certainty , actual results may differ from our estimates , and such differences could be material . a full discussion of our significant accounting policies is contained in note 2 to our consolidated financial statements , which is included in item 8 – “ financial statements and supplementary data ” of this report . we believe that the following accounting estimates are the most critical to aid in fully understanding and evaluating our financial results . these estimates require our most difficult , subjective or complex judgments because they relate to matters that are inherently uncertain . we have reviewed these critical accounting policies and estimates and related disclosures with our audit committee . long-lived assets we review long-lived assets , such as property and equipment , and intangible assets subject to amortization , for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable . these events or changes in circumstances include , but are not limited to , significant underperformance relative to historical or projected future operating results , significant changes in the manner of use of the acquired assets or the strategy for the overall business , and significant negative industry or economic trends . recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset group to the estimated undiscounted cash flows over the estimated remaining useful life of the asset group . if the asset group is not recoverable , the impairment loss is calculated as the excess of the carrying value over the fair value . we define our asset group as an operating club or restaurant location , which is also our reporting unit or the lowest level for which cash flows can be identified . assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell , and are no longer depreciated . during the fourth quarter of fiscal 2017 , we impaired one club by $ 385,000 , and during the fourth quarter of fiscal 2016 , we impaired one property held for sale by $ 1.4 million . investment during the fourth quarter of fiscal 2017 , we also fully impaired our remaining investment in drink robust amounting to $ 1.2 million . goodwill and other intangible assets goodwill and other intangible assets that have indefinite useful lives are tested annually for impairment during our fourth fiscal quarter , and are tested for impairment more frequently if events and circumstances indicate that the asset might be impaired . 24 our impairment calculations require management to make assumptions and to apply judgment in order to estimate fair values . if our actual results are not consistent with our estimates and assumptions , we may be exposed to impairments that could be material . we do not believe that there is a reasonable likelihood that there will be a material change in the estimates or assumptions we used to calculate impairment charges . for our goodwill impairment review , we first perform a qualitative assessment to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying value . this assessment is based on several factors , including industry and market conditions , overall financial performance , including an assessment of cash flows in comparison to actual and projected results of prior periods . if it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying value based on our qualitative analysis , we perform a step 1 analysis to determine the fair value of the reporting unit . the fair value is determined using market-related valuation models , including earnings multiples , discounted cash flows , and comparable asset market values . as detailed within note 2 of our consolidated financial statements , we adopted asu 2017-04 , intangibles – goodwill and other ( topic 350 ) : simplifying the test for goodwill impairment , during q4 of 2017 , and accordingly , we recognize goodwill impairment in the amount that the carrying value of the reporting unit exceeds the fair value of the reporting unit , not to exceed the amount of goodwill allocated to the reporting unit , based on the results of our step 1 analysis . for the year ended september 30 , 2017 , we identified four reporting units that were impaired and recognized a goodwill impairment loss totaling $ 4.7 million . for indefinite-lived intangibles , specifically sob licenses , we determine fair value by estimating the multiperiod excess earnings of the asset . for indefinite-lived tradename , we determine fair value by using the relief from royalty method . the fair value is then compared to the carrying value and an impairment charge is recognized by the amount by which the carrying amount exceeds the fair value of the asset . we recorded impairment charges for sob licenses amounting to $ 1.4 million for 2017 , $ 2.1 million for 2016 and $ 1.7 million for 2015 , related to two clubs in 2017 , one club in 2016 and two clubs in 2015. income taxes we estimate certain components of our provision for income taxes . story_separator_special_tag we exclude from non-gaap net income and non-gaap net income per diluted share amortization of intangibles , gain on settlement of patron tax case , income tax expense , impairment charges , gain on acquisition of controlling interest in subsidiary , gains or losses on sale of assets , stock-based compensation , and settlement of lawsuits , and include the non-gaap provision for current and deferred income taxes , calculated as the tax effect at 37 % , 35 % and 35 % in 2017 , 2016 and 2015 , respectively , effective tax rate of the pre-tax non-gaap income before taxes , because we believe that excluding and including such items help management and investors better understand our operating activities . adjusted ebitda . we exclude from adjusted ebitda depreciation expense , amortization of intangibles , impairment of assets , income taxes , interest expense , interest income , gains or losses on sale of assets , settlement of lawsuits , gain on settlement of patron tax case , and gain on acquisition of controlling interest in subsidiary because we believe that adjusting for such items helps management and investors better understand our operating activities . adjusted ebitda provides a core operational performance measurement that compares results without the need to adjust for federal , state and local taxes which have considerable variation between domestic jurisdictions . the results are , therefore , without consideration of financing alternatives of capital employed . we use adjusted ebitda as one guideline to assess the unleveraged performance return on our investments . adjusted ebitda is also the target benchmark for our acquisitions of nightclubs . we also use certain non-gaap cash flow measures such as free cash . see “ liquidity and capital resources ” section for further discussion . 33 the following tables present our non-gaap performance measures for the periods indicated ( in thousands , except per share amounts and percentages ) : replace_table_token_16_th 34 replace_table_token_17_th * per share amounts and percentages may not foot due to rounding . 35 the adjustments to reconcile net income attributable to rcihh common shareholders to non-gaap net income exclude the impact of adjustments related to noncontrolling interests , which is immaterial . in the calculation of non-gaap diluted net income per share , we take into consideration the adjustment to net income from assumed conversion of debentures ( see note 2 to the consolidated financial statements ) . liquidity and capital resources we believe our ability to generate cash from operating activities is one of our fundamental financial strengths . the near-term outlook for our business remains strong , and we expect to generate substantial cash flows from operations in fiscal 2018. as a result of our expected cash flows from operations , we have significant flexibility to meet our financial commitments . the company has not recently raised capital through the issuance of equity securities . instead , we use debt financing to lower our overall cost of capital and increase our return on stockholders ' equity . we have a history of borrowing funds in private transactions and from sellers in acquisition transactions and continue to have the ability to borrow funds at reasonable interest rates in that manner . we also have historically utilized these cash flows to invest in property and equipment , adult nightclubs and restaurants/sports bars . as of september 30 , 2017 , we had negative working capital of $ 10.6 million ( excluding the impact of assets held for sale amounting to $ 5.8 million ) compared to negative working capital of $ 5.3 million as of september 30 , 2016 ( excluding the impact of assets held for sale amounting to $ 7.7 million ) . the decrease in working capital is principally due to the following items : ● operating cash flow for the year ; ● increase in current portion of long-term debt ; and ● partially offset by a net increase in current assets , excluding cash , mainly from prepaid income taxes and insurance . we believe that our current sources of liquidity and capital will be sufficient to finance our continued operations and growth plans not only within the next 12 months , but for the next 18 to 24 months . refer to sections on debt financing and contractual obligations and commitments below for a discussion of long-term liquidity and capital resources . 36 cash flows from operating activities following are our summarized cash flows from operating activities ( in thousands ) : replace_table_token_18_th net cash flows from operating activities decreased from 2016 to 2017 due to a decrease in working capital caused by year-end vendor payments , higher income taxes and higher interest expense paid in 2017 ; while net cash flows from operating activities increased from 2015 to 2016 due to lower income taxes paid and higher pre-tax income partially offset by higher interest expense paid in 2016. cash flows from investing activities following are our summarized cash flows from investing activities ( in thousands ) : replace_table_token_19_th we opened five new units in 2017 ( including two acquired and one reconcepted from a bombshells to a club ) ; reconcepted one club and acquired one club in 2016 ; and opened two clubs ( including one acquired ) in 2015. we also constructed and moved to a new corporate office in 2016. following is a reconciliation of our additions to property and equipment for the years ended september 30 , 2017 , 2016 and 2015 ( in thousands ) : replace_table_token_20_th 37 cash flows from financing activities following are our summarized cash flows from financing activities ( in thousands ) : replace_table_token_21_th we purchased treasury stock representing 89,685 shares , 747,081 shares and 225,280 shares in 2017 , 2016 and 2015 , respectively . during the second quarter of 2016 , we started paying quarterly dividends in the amount of $ 0.03 per share . see note 8 to our consolidated financial statements for a

