based upon this review , the company terminated its ship and debit arrangements with distributors during the fourth quarter of fiscal year 2016. subsequent to the termination of the ship and debit arrangements , the company began recognizing revenue for all distributors upon delivery to the distributor based upon the distributor 's individual shipping terms , less an allowance for estimated returns , as the company 's final sales price to the distributor was fixed and determinable and the company determined that all four criteria for revenue recognition were met . although the company terminated its ship and debit arrangements with all distributors along with certain ancillary agreements related to the ship and debit arrangements , the company continues to grant varying levels of stock rotation and price protection rights based on individual distributor agreements . to the extent these rights are implicated in any transaction with a distributor , we continue to evaluate their effect on when the revenue recognition criteria have been met . ▪ inventories are recorded at the lower of cost or net realizable value , with cost being determined on a first-in , first-out basis . we write down inventories to net realizable value based on forecasted demand while taking into account product release schedules and product life cycles , which may drive management judgment . we also review and write down inventory , as appropriate , based on the age and condition of the inventory . actual demand and market conditions may be different from those projected by management , which could have a material effect on our operating results and financial position . see note 2 — summary of significant accounting policies of the notes to consolidated financial statements contained in item 8 . ▪ we evaluate the recoverability of property , plant , and equipment and intangible assets by testing for impairment losses on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets ' carrying amounts . an impairment loss is recognized in the event the carrying value of these assets exceeds the fair value of the applicable assets . impairment evaluations involve management estimates of asset useful lives and future cash flows . actual useful lives and cash flows could be different from those estimated by management , which could have a material effect on our operating results and financial position . see note 6 — intangibles , net and goodwill of the notes to consolidated financial statements contained in item 8 . ▪ the company evaluates goodwill and other intangible assets . goodwill is recorded at the time of an acquisition and is calculated as the difference between the total consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired . the company tests goodwill and other intangible assets for impairment on an annual basis or more frequently if the company believes indicators of impairment exist . impairment evaluations involve management 's assessment of qualitative factors to determine whether it is more likely than not that goodwill and other intangible assets are impaired . if management concludes from its assessment of qualitative factors that it is more likely than not that impairment exists , then a quantitative impairment test will be performed involving management estimates of asset useful lives and future cash flows . significant management judgment is required in the forecasts of future operating results that are used in these evaluations . if our actual results , or the plans and estimates used in future impairment analyses , are lower than the original estimates used to assess the recoverability of these assets , we could incur additional impairment charges in a future period . the company has recorded no goodwill impairments in fiscal years 2018 , 2017 , and 2016 . there were no material intangible asset impairments in fiscal years 2018 , 2017 , and 2016 . ▪ we are subject to the possibility of loss contingencies for various legal matters . see note 11 — legal matters of the notes to consolidated financial statements contained in item 8 . we regularly evaluate current information available to us to determine whether any accruals should be made based on the status of the case , the results of the discovery process and other factors . if we ultimately determine that an accrual should be made for a legal matter , this accrual could have a material effect on our operating results and financial position and the ultimate outcome may be materially different than our estimate . 23 recently issued accounting pronouncements in may 2014 , the financial accounting standards board ( “ fasb ” ) issued accounting standards update ( “ asu ” ) no . 2014-09 , revenue from contracts with customers ( asc topic 606 ) . the purpose of this asu is to converge revenue recognition requirements per gaap and international financial reporting standards ( ifrs ) . the core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services . in august 2015 , the fasb issued asu 2015-14 , revenue from contracts with customers ( topic 606 ) : deferral of the effective date after public comment supported a proposal to delay the effective date of this asu to annual reporting periods beginning after december 15 , 2017 , including interim reporting periods within that reporting period . the company has completed the process of reviewing our customers ' contracts in respect of performance obligation identification and satisfaction , pricing , warranties , and return rights , among other considerations . story_separator_special_tag interest income interest income in fiscal years 2018 , 2017 , and 2016 , was $ 4.8 million , $ 1.7 million , and $ 0.9 million , respectively . the increase in interest income in fiscal year 2018 and 2017 was due to higher average cash , cash equivalent , and marketable securities balances throughout the year versus the previous year . 27 interest expense the company reported interest expense of $ 1.2 million , $ 3.6 million and $ 3.3 million for fiscal years 2018 , 2017 , and 2016 , respectively , primarily as a result of the revolving credit facility and subsequent pay down , described in note 7. other expense in fiscal years 2018 and 2016 , the company reported $ 1.0 million and $ 1.8 million , respectively , in other expense , primarily foreign exchange costs . the corresponding amount in fiscal year 2017 was immaterial . provision for income taxes we recorded income tax expense of $ 103.1 million in fiscal year 2018 on a pre-tax income of $ 265.1 million , yielding an effective tax rate of 38.9 percent . our effective tax rate was higher than the u.s. statutory rate of 31.6 percent , primarily due to the impact of the legislation commonly referred to as the tax cuts and jobs act ( the “ tax act ” ) enacted on december 22 , 2017 , partially offset by income earned in certain foreign jurisdictions that is taxed below the federal statutory rate and excess benefits from stock based compensation . the tax act reduces the u.s. federal corporate income tax rate from 35 % to 21 % , restricts the deductibility of certain business expenses , requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax-deferred , and creates new taxes on certain foreign sourced earnings , among other provisions . the reduction in the u.s. federal corporate income tax rate was effective january 1 , 2018. the rate change is administratively effective at the beginning of our fiscal year 2018 , resulting in a blended u.s. federal corporate income tax rate of 31.6 % for the annual period . this reduction in the statutory u.s. tax rate , when coupled with changes in the deductibility of certain business expenses that are also effective in fiscal year 2018 , resulted in an immaterial change to the annual effective tax rate for fiscal year 2018. in addition , we recorded $ 60.1 million of income tax expense during fiscal year 2018 as a provisional estimate of the discrete tax effects of the tax act . see note 14 - income taxes . we recorded income tax expense of $ 53.8 million in fiscal year 2017 on a pre-tax income of $ 315.0 million , yielding an effective tax provision rate of 17.1 percent . our effective tax rate was lower than the then current u.s. statutory rate of 35 percent , primarily due to income earned in jurisdictions with a lower statutory tax rate , excess tax benefits from stock based compensation due to the early adoption of the asu 2016-09 accounting standard , and research and development tax credits in the u.s. we recorded income tax expense of $ 52.4 million in fiscal year 2016 on a pre-tax income of $ 176.0 million , yielding an effective tax provision rate of 29.8 percent . our effective tax rate was lower than the then current u.s. statutory rate of 35 percent , primarily due to research and development tax credits in the u.s. and the impact of earnings in jurisdictions with a lower statutory tax rate . outlook cirrus logic made meaningful progress in fiscal year 2018 with numerous strategic initiatives that we believe position the company to return to growth in the coming years . we expanded our portfolio of smart codecs and boosted amplifiers , and moved into new applications with haptics and voice biometrics products , while broadening our customer base . we believe our extensive roadmap targeting the smartphone , digital headset and smart home markets will enable cirrus logic to offer a differentiated and consistent audio and voice experience and contribute to the company 's future success . for fiscal year 2019 , we expect revenue to be down approximately 10 percent year over year and anticipate a return to year-over-year revenue growth in fiscal year 2020. story_separator_special_tag internationally , through at least the next 12 months , although we could be required , or could elect , to seek additional funding prior to that time . revolving credit facility on july 12 , 2016 , cirrus logic entered into an amended and restated credit agreement ( the “ amended credit agreement ” ) with wells fargo bank , national association , as administrative agent , and the lenders party thereto , for the purpose of refinancing an existing credit facility and providing ongoing working capital . the amended credit agreement provides for a $ 300 million senior secured revolving credit facility ( the “ amended facility ” ) . the amended facility matures on july 12 , 2021. cirrus logic must repay the outstanding principal amount of all borrowings , together with all accrued but unpaid interest thereon , on the maturity date . the amended facility is required to be guaranteed by all of cirrus logic 's material domestic subsidiaries ( the “ subsidiary guarantors ” ) . the amended facility is secured by substantially all of the assets of cirrus logic and any subsidiary guarantors , except for certain excluded assets . borrowings under the amended facility may , at our election , bear interest at either ( a ) a base rate plus the applicable margin ( “ base rate loans ” ) or ( b ) a libor rate plus the applicable margin ( “ libor rate loans ” ) . the applicable margin ranges from 0 % to 0.50 % per

liquidity and capital resources in fiscal year 2018 , cash flow from operations was $ 318.7 million . operating cash flow during fiscal year 2018 was related to the cash components of our net income and a $ 29.1 million favorable change in working capital . the favorable change in working capital was driven primarily by a decrease in accounts receivable and an increase in income taxes payable , partially offset by an increase in inventories . in fiscal year 2017 , cash flow from operations was $ 369.8 million . operating cash flow during fiscal year 2017 was related to the cash components of our net income , offset by a $ 24.9 million unfavorable change in working capital . the unfavorable change in working capital was driven primarily by an increase in accounts receivable and inventories during the period . in fiscal year 2016 , cash flow from operations was $ 149.0 million . operating cash flow during fiscal year 2016 was related to the cash components of our net income , offset by a $ 108.7 million unfavorable change in working capital . the unfavorable change in working capital was driven primarily by an increase in inventories and a decrease in accounts payable during the period .


 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.
     ```liquidity and capital resources in fiscal year 2018 , cash flow from operations was $ 318.7 million . operating cash flow during fiscal year 2018 was related to the cash components of our net income and a $ 29.1 million favorable change in working capital . the favorable change in working capital was driven primarily by a decrease in accounts receivable and an increase in income taxes payable , partially offset by an increase in inventories . in fiscal year 2017 , cash flow from operations was $ 369.8 million . operating cash flow during fiscal year 2017 was related to the cash components of our net income , offset by a $ 24.9 million unfavorable change in working capital . the unfavorable change in working capital was driven primarily by an increase in accounts receivable and inventories during the period . in fiscal year 2016 , cash flow from operations was $ 149.0 million . operating cash flow during fiscal year 2016 was related to the cash components of our net income , offset by a $ 108.7 million unfavorable change in working capital . the unfavorable change in working capital was driven primarily by an increase in inventories and a decrease in accounts payable during the period .
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 Suspicious Activity Report : based upon this review , the company terminated its ship and debit arrangements with distributors during the fourth quarter of fiscal year 2016. subsequent to the termination of the ship and debit arrangements , the company began recognizing revenue for all distributors upon delivery to the distributor based upon the distributor 's individual shipping terms , less an allowance for estimated returns , as the company 's final sales price to the distributor was fixed and determinable and the company determined that all four criteria for revenue recognition were met . although the company terminated its ship and debit arrangements with all distributors along with certain ancillary agreements related to the ship and debit arrangements , the company continues to grant varying levels of stock rotation and price protection rights based on individual distributor agreements . to the extent these rights are implicated in any transaction with a distributor , we continue to evaluate their effect on when the revenue recognition criteria have been met . ▪ inventories are recorded at the lower of cost or net realizable value , with cost being determined on a first-in , first-out basis . we write down inventories to net realizable value based on forecasted demand while taking into account product release schedules and product life cycles , which may drive management judgment . we also review and write down inventory , as appropriate , based on the age and condition of the inventory . actual demand and market conditions may be different from those projected by management , which could have a material effect on our operating results and financial position . see note 2 — summary of significant accounting policies of the notes to consolidated financial statements contained in item 8 . ▪ we evaluate the recoverability of property , plant , and equipment and intangible assets by testing for impairment losses on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets ' carrying amounts . an impairment loss is recognized in the event the carrying value of these assets exceeds the fair value of the applicable assets . impairment evaluations involve management estimates of asset useful lives and future cash flows . actual useful lives and cash flows could be different from those estimated by management , which could have a material effect on our operating results and financial position . see note 6 — intangibles , net and goodwill of the notes to consolidated financial statements contained in item 8 . ▪ the company evaluates goodwill and other intangible assets . goodwill is recorded at the time of an acquisition and is calculated as the difference between the total consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired . the company tests goodwill and other intangible assets for impairment on an annual basis or more frequently if the company believes indicators of impairment exist . impairment evaluations involve management 's assessment of qualitative factors to determine whether it is more likely than not that goodwill and other intangible assets are impaired . if management concludes from its assessment of qualitative factors that it is more likely than not that impairment exists , then a quantitative impairment test will be performed involving management estimates of asset useful lives and future cash flows . significant management judgment is required in the forecasts of future operating results that are used in these evaluations . if our actual results , or the plans and estimates used in future impairment analyses , are lower than the original estimates used to assess the recoverability of these assets , we could incur additional impairment charges in a future period . the company has recorded no goodwill impairments in fiscal years 2018 , 2017 , and 2016 . there were no material intangible asset impairments in fiscal years 2018 , 2017 , and 2016 . ▪ we are subject to the possibility of loss contingencies for various legal matters . see note 11 — legal matters of the notes to consolidated financial statements contained in item 8 . we regularly evaluate current information available to us to determine whether any accruals should be made based on the status of the case , the results of the discovery process and other factors . if we ultimately determine that an accrual should be made for a legal matter , this accrual could have a material effect on our operating results and financial position and the ultimate outcome may be materially different than our estimate . 23 recently issued accounting pronouncements in may 2014 , the financial accounting standards board ( “ fasb ” ) issued accounting standards update ( “ asu ” ) no . 2014-09 , revenue from contracts with customers ( asc topic 606 ) . the purpose of this asu is to converge revenue recognition requirements per gaap and international financial reporting standards ( ifrs ) . the core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services . in august 2015 , the fasb issued asu 2015-14 , revenue from contracts with customers ( topic 606 ) : deferral of the effective date after public comment supported a proposal to delay the effective date of this asu to annual reporting periods beginning after december 15 , 2017 , including interim reporting periods within that reporting period . the company has completed the process of reviewing our customers ' contracts in respect of performance obligation identification and satisfaction , pricing , warranties , and return rights , among other considerations . story_separator_special_tag interest income interest income in fiscal years 2018 , 2017 , and 2016 , was $ 4.8 million , $ 1.7 million , and $ 0.9 million , respectively . the increase in interest income in fiscal year 2018 and 2017 was due to higher average cash , cash equivalent , and marketable securities balances throughout the year versus the previous year . 27 interest expense the company reported interest expense of $ 1.2 million , $ 3.6 million and $ 3.3 million for fiscal years 2018 , 2017 , and 2016 , respectively , primarily as a result of the revolving credit facility and subsequent pay down , described in note 7. other expense in fiscal years 2018 and 2016 , the company reported $ 1.0 million and $ 1.8 million , respectively , in other expense , primarily foreign exchange costs . the corresponding amount in fiscal year 2017 was immaterial . provision for income taxes we recorded income tax expense of $ 103.1 million in fiscal year 2018 on a pre-tax income of $ 265.1 million , yielding an effective tax rate of 38.9 percent . our effective tax rate was higher than the u.s. statutory rate of 31.6 percent , primarily due to the impact of the legislation commonly referred to as the tax cuts and jobs act ( the “ tax act ” ) enacted on december 22 , 2017 , partially offset by income earned in certain foreign jurisdictions that is taxed below the federal statutory rate and excess benefits from stock based compensation . the tax act reduces the u.s. federal corporate income tax rate from 35 % to 21 % , restricts the deductibility of certain business expenses , requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax-deferred , and creates new taxes on certain foreign sourced earnings , among other provisions . the reduction in the u.s. federal corporate income tax rate was effective january 1 , 2018. the rate change is administratively effective at the beginning of our fiscal year 2018 , resulting in a blended u.s. federal corporate income tax rate of 31.6 % for the annual period . this reduction in the statutory u.s. tax rate , when coupled with changes in the deductibility of certain business expenses that are also effective in fiscal year 2018 , resulted in an immaterial change to the annual effective tax rate for fiscal year 2018. in addition , we recorded $ 60.1 million of income tax expense during fiscal year 2018 as a provisional estimate of the discrete tax effects of the tax act . see note 14 - income taxes . we recorded income tax expense of $ 53.8 million in fiscal year 2017 on a pre-tax income of $ 315.0 million , yielding an effective tax provision rate of 17.1 percent . our effective tax rate was lower than the then current u.s. statutory rate of 35 percent , primarily due to income earned in jurisdictions with a lower statutory tax rate , excess tax benefits from stock based compensation due to the early adoption of the asu 2016-09 accounting standard , and research and development tax credits in the u.s. we recorded income tax expense of $ 52.4 million in fiscal year 2016 on a pre-tax income of $ 176.0 million , yielding an effective tax provision rate of 29.8 percent . our effective tax rate was lower than the then current u.s. statutory rate of 35 percent , primarily due to research and development tax credits in the u.s. and the impact of earnings in jurisdictions with a lower statutory tax rate . outlook cirrus logic made meaningful progress in fiscal year 2018 with numerous strategic initiatives that we believe position the company to return to growth in the coming years . we expanded our portfolio of smart codecs and boosted amplifiers , and moved into new applications with haptics and voice biometrics products , while broadening our customer base . we believe our extensive roadmap targeting the smartphone , digital headset and smart home markets will enable cirrus logic to offer a differentiated and consistent audio and voice experience and contribute to the company 's future success . for fiscal year 2019 , we expect revenue to be down approximately 10 percent year over year and anticipate a return to year-over-year revenue growth in fiscal year 2020. story_separator_special_tag internationally , through at least the next 12 months , although we could be required , or could elect , to seek additional funding prior to that time . revolving credit facility on july 12 , 2016 , cirrus logic entered into an amended and restated credit agreement ( the “ amended credit agreement ” ) with wells fargo bank , national association , as administrative agent , and the lenders party thereto , for the purpose of refinancing an existing credit facility and providing ongoing working capital . the amended credit agreement provides for a $ 300 million senior secured revolving credit facility ( the “ amended facility ” ) . the amended facility matures on july 12 , 2021. cirrus logic must repay the outstanding principal amount of all borrowings , together with all accrued but unpaid interest thereon , on the maturity date . the amended facility is required to be guaranteed by all of cirrus logic 's material domestic subsidiaries ( the “ subsidiary guarantors ” ) . the amended facility is secured by substantially all of the assets of cirrus logic and any subsidiary guarantors , except for certain excluded assets . borrowings under the amended facility may , at our election , bear interest at either ( a ) a base rate plus the applicable margin ( “ base rate loans ” ) or ( b ) a libor rate plus the applicable margin ( “ libor rate loans ” ) . the applicable margin ranges from 0 % to 0.50 % per

