working at the top of client organizations also allows us to attract and retain high-caliber consultants . in addition to executive search , we provide consulting services including executive leadership assessment , leadership , team and board development , succession planning , talent strategy , people performance , inter-team collaboration , culture shaping and organizational transformation . we provide our services to a broad range of clients through the expertise of over 400 consultants located in major cities around the world . our executive search services are provided on a retained basis . revenue before reimbursements of out-of-pocket expenses ( “ net revenue ” ) consists of retainers and indirect expenses billed to clients . typically , we are paid a retainer for our executive search services equal to approximately one-third of the estimated first-year compensation for the position to be filled . in addition , if the actual compensation of a placed candidate exceeds the estimated compensation , we often are authorized to bill the client for one-third of the excess . indirect expenses are calculated as a percentage of the retainer with certain dollar limits per search . key performance indicators we manage and assess our performance through various means , with primary financial and operational measures including net revenue , operating income , operating margin , adjusted ebitda ( non-gaap ) and adjusted ebitda margin ( non-gaap ) . 17 executive search and heidrick consulting performance is also measured using consultant headcount . specific to executive search , confirmation trends , consultant productivity and average revenue per search are used to measure performance . revenue is driven by market conditions and a combination of the number of executive search engagements and leadership consulting and culture shaping projects and the average revenue per search or project . with the exception of compensation expense , incremental increases in revenue do not necessarily result in proportionate increases in costs , particularly operating and administrative expenses , thus creating the potential to improve operating margins . the number of consultants , confirmation trends , number of searches or projects completed , productivity levels and the average revenue per search or project will vary from quarter to quarter , affecting net revenue and operating margin . our compensation model at the executive search consultant level , there are fixed and variable components of compensation . individuals are rewarded for their performance based on a system that directly ties a portion of their compensation to the amount of net revenue for which they are responsible . a portion of the reward may be based upon individual performance against a series of non-financial measures . credit towards the variable portion of an executive search consultant 's compensation is earned by generating net revenue for winning and executing work . each quarter , we review and update the expected annual performance of all executive search consultants and accrue variable compensation accordingly . the amount of variable compensation that is accrued for each executive search consultant is based on a tiered payout model . overall company performance determines the amount available for total variable compensation . the more net revenue that is generated by the consultant , the higher the percentage credited towards the consultant 's variable compensation and thus accrued by our company as expense . at the heidrick consulting consultant level , there are also fixed and variable components of compensation . overall compensation is determined based on the total economic contribution of the heidrick consulting segment to the business as a whole . individual consultant compensation can vary , and is derived from credits earned for delivering client work plus credits earned for contributions of intellectual and human capital , client relationship development and consulting practice development . each quarter , we review and update the expected annual performance of all heidrick consulting consultants and accrue variable compensation accordingly . the mix of individual consultants who generate revenue in executive search and economic contributions in heidrick consulting can significantly affect the total amount of compensation expense recorded , which directly impacts operating margin . as a result , the variable portion of the compensation expense may fluctuate significantly from quarter to quarter . the total variable compensation is discretionary , and is based on company-wide financial targets approved by the human resources and compensation committee of the board of directors . a portion of our executive search consultants ' and management cash bonuses is deferred and paid over a three-year vesting period . the compensation expense related to the amounts being deferred is recognized on a graded vesting attribution method over the requisite service period . this service period begins on january 1 of the respective fiscal year and continues through the deferral date , which coincides with our bonus payments in the first quarter of the following year , and for an additional three year vesting period . the deferrals are recorded in accrued salaries and employee benefits in the consolidated balance sheets . 2018 overview consolidated net revenue was $ 716.0 million for the year ended december 31 , 2018 , an increase of $ 94.6 million , or 15.2 % , compared to 2017. executive search net revenue was $ 652.9 million in 2018 , an increase of $ 100.8 million compared to 2017. the increase in executive search net revenue was the result of growth in the americas , europe and asia pacific . our acquisition of amrop a/s ( `` amrop `` ) in january 2018 also contributed to the growth in executive search net revenue . the net impact of the new revenue recognition standard increased executive search net revenue by approximately $ 8.0 million . story_separator_special_tag variable compensation increased $ 5.9 million due to higher bonus accruals for consultant performance . the impact of the new revenue recognition standard increased salaries and benefits expense by approximately $ 2.1 million . 24 general and administrative expenses decreased $ 3.3 million , or 13.6 % from 2017 primarily due to decreases in bad debt , internal travel and office occupancy . restructuring charges were $ 2.0 million for the year ended december 31 , 2017. these charges include approximately $ 1.8 million in severance-related charges , $ 0.1 million in office-related charges and $ 0.1 million in professional fees and other expenses . the asia pacific segment reported operating income of $ 16.0 million in 2018 , an increase of $ 15.5 million compared to $ 0.5 million in 2017. excluding the impact of restructuring charges in 2017 , operating income increased $ 13.4 million from $ 2.6 million to $ 16.0 million . heidrick consulting the heidrick consulting segment reported net revenue of $ 63.1 million in 2018 , a decrease of 9.0 % compared to $ 69.4 million in 2017. the decline in revenue was primarily the result of the adoption of the new revenue recognition standard and its $ 3.8 million negative impact on revenue associated with enterprise agreements . enterprise agreements are now recognized over a longer term due to certain renewal options included in the contract . foreign exchange rate fluctuations positively impacted results by $ 0.7 million , or 1.1 % . there were 66 heidrick consulting partner and principal consultants as of december 31 , 2018 , compared to 64 as of december 31 , 2017. salaries and employee benefits expense increased $ 3.9 million , or 8.0 % , from 2017. fixed compensation increased $ 4.6 million primarily due to increases in talent acquisition and retention costs , and base salaries and payroll taxes , partially offset by a decrease in retirement and benefits . variable compensation decreased $ 0.7 million due to lower bonus accruals for consultant performance . the impact of the new revenue recognition standard decreased salaries and benefits expense by approximately $ 2.7 million . general and administrative expenses decreased $ 4.8 million , or 16.7 % , from 2017 primarily as a result of decreases in the use of external third-party consultants and intangible amortization as a result of impairment in the prior year , partially offset by an increase in professional services . impairment charges for the year ended december 31 , 2017 were $ 50.7 million due to the impairment of goodwill and amortizable intangible assets associated with our leadership consulting and culture shaping reporting units . the impairment charge is recorded within impairment charges in the condensed consolidated statement of comprehensive income ( loss ) for the year ended december 31 , 2017. in 2018 , the company completed the integration of its leadership consulting and culture shaping businesses into one combined service offering , heidrick consulting . restructuring charges were $ 3.4 million for the year ended december 31 , 2017. these charges included approximately $ 2.1 million in severance-related charges , $ 1.2 million in professional fees and other expenses and $ 0.1 million in office-related charges . the heidrick consulting segment reported an operating loss of $ 13.6 million in 2018 , an increase of $ 48.7 million , compared to an operating loss of $ 62.4 million in 2017. excluding the impact of impairment and restructuring charges in 2017 , operating loss decreased $ 5.4 million from a loss of $ 8.3 million to a loss of $ 13.6 million . global operations support global operations support expenses decreased $ 3.8 million , or 9.5 % , to $ 36.3 million from $ 40.0 million in 2017. salaries and employee benefits expense increased $ 2.8 million , or 15.4 % , due to increases in management and support bonuses , stock compensation and separation costs , partially offset by a decrease in the deferred compensation plan due to market fluctuations . general and administrative expense decreased $ 1.2 million due to decreases in internal travel , professional fees , hiring fees and communications services , partially offset by an increase in office occupancy . restructuring charges were $ 5.5 million for the year ended december 31 , 2017. these charges included approximately $ 4.5 million of severance-related charges and $ 0.9 million of professional fees and other costs . excluding the impact of restructuring charges in 2017 , expenses increased $ 1.7 million from $ 34.6 million in 2017 to $ 36.3 million in 2018 . 25 year ended december 31 , 2017 compared to year ended december 31 , 2016 total revenue . consolidated total revenue increased $ 39.2 million , or 6.5 % , to $ 640.1 million for the year ended december 31 , 2017 from $ 600.9 million for the year ended december 31 , 2016. the increase in total revenue was primarily due to the increase in revenue before reimbursements ( net revenue ) . revenue before reimbursements ( net revenue ) . consolidated net revenue increased $ 39.0 million or 6.7 % , to $ 621.4 million in 2017 , from $ 582.4 million in 2016. foreign exchange rate fluctuations negatively impacted results by $ 1.4 million , or 0.2 % . executive search net revenue was $ 552.0 million in 2017 , an increase of $ 44.7 million from 2016. the increase in executive search net revenue was the result of growth in the americas , europe and asia pacific . heidrick consulting net revenue decreased $ 5.7 million , or 7.6 % , to $ 69.4 million in 2017 from $ 75.0 million in 2016. the number of executive search and heidrick consulting consultants was 346 and 64 , respectively , as of december 31 , 2017 compared to 335 and 62 , respectively , as of december 31 , 2016. specific to executive search , productivity as measured by

cash and cash equivalents . cash and cash equivalents at december 31 , 2018 were $ 279.9 million , an increase of $ 72.4 million compared to $ 207.5 million at december 31 , 2017 . the $ 279.9 million of cash and cash equivalents at december 31 , 2018 includes $ 112.1 million held by our foreign subsidiaries . a portion of the $ 112.1 million is considered permanently reinvested in these foreign subsidiaries . if these funds were required to satisfy obligations in the united states , the repatriation of these funds could cause us to incur additional foreign withholding taxes . we expect to pay approximately $ 202.0 million in variable compensation related to 2018 performance in march and april 2019 . in january 2019 , we paid approximately $ 14.0 million in variable compensation that was deferred in prior years . 29 cash flows provided by operating activities . in 2018 , cash provided by operating activities was $ 102.9 million , principally reflecting net income net of non-cash charges of $ 68.6 million , an increase in accrued expenses of $ 71.5 million , partially offset by an increase in accounts receivable of $ 16.8 million and restructuring payments of $ 11.6 million . the increase in accrued expenses primarily reflects approximately $ 202.0 million of current year bonus accruals , partially offset by $ 148.0 million of bonus payments for 2017 made in early 2018. in 2017 , cash provided by operating activities was $ 67.0 million , principally reflecting net income net of non-cash charges of $ 21.1 million , an increase in accrued expenses of $ 18.3 million and a restructuring accrual of $ 13.0 million .


 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 and cash equivalents . cash and cash equivalents at december 31 , 2018 were $ 279.9 million , an increase of $ 72.4 million compared to $ 207.5 million at december 31 , 2017 . the $ 279.9 million of cash and cash equivalents at december 31 , 2018 includes $ 112.1 million held by our foreign subsidiaries . a portion of the $ 112.1 million is considered permanently reinvested in these foreign subsidiaries . if these funds were required to satisfy obligations in the united states , the repatriation of these funds could cause us to incur additional foreign withholding taxes . we expect to pay approximately $ 202.0 million in variable compensation related to 2018 performance in march and april 2019 . in january 2019 , we paid approximately $ 14.0 million in variable compensation that was deferred in prior years . 29 cash flows provided by operating activities . in 2018 , cash provided by operating activities was $ 102.9 million , principally reflecting net income net of non-cash charges of $ 68.6 million , an increase in accrued expenses of $ 71.5 million , partially offset by an increase in accounts receivable of $ 16.8 million and restructuring payments of $ 11.6 million . the increase in accrued expenses primarily reflects approximately $ 202.0 million of current year bonus accruals , partially offset by $ 148.0 million of bonus payments for 2017 made in early 2018. in 2017 , cash provided by operating activities was $ 67.0 million , principally reflecting net income net of non-cash charges of $ 21.1 million , an increase in accrued expenses of $ 18.3 million and a restructuring accrual of $ 13.0 million .
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 Suspicious Activity Report : working at the top of client organizations also allows us to attract and retain high-caliber consultants . in addition to executive search , we provide consulting services including executive leadership assessment , leadership , team and board development , succession planning , talent strategy , people performance , inter-team collaboration , culture shaping and organizational transformation . we provide our services to a broad range of clients through the expertise of over 400 consultants located in major cities around the world . our executive search services are provided on a retained basis . revenue before reimbursements of out-of-pocket expenses ( “ net revenue ” ) consists of retainers and indirect expenses billed to clients . typically , we are paid a retainer for our executive search services equal to approximately one-third of the estimated first-year compensation for the position to be filled . in addition , if the actual compensation of a placed candidate exceeds the estimated compensation , we often are authorized to bill the client for one-third of the excess . indirect expenses are calculated as a percentage of the retainer with certain dollar limits per search . key performance indicators we manage and assess our performance through various means , with primary financial and operational measures including net revenue , operating income , operating margin , adjusted ebitda ( non-gaap ) and adjusted ebitda margin ( non-gaap ) . 17 executive search and heidrick consulting performance is also measured using consultant headcount . specific to executive search , confirmation trends , consultant productivity and average revenue per search are used to measure performance . revenue is driven by market conditions and a combination of the number of executive search engagements and leadership consulting and culture shaping projects and the average revenue per search or project . with the exception of compensation expense , incremental increases in revenue do not necessarily result in proportionate increases in costs , particularly operating and administrative expenses , thus creating the potential to improve operating margins . the number of consultants , confirmation trends , number of searches or projects completed , productivity levels and the average revenue per search or project will vary from quarter to quarter , affecting net revenue and operating margin . our compensation model at the executive search consultant level , there are fixed and variable components of compensation . individuals are rewarded for their performance based on a system that directly ties a portion of their compensation to the amount of net revenue for which they are responsible . a portion of the reward may be based upon individual performance against a series of non-financial measures . credit towards the variable portion of an executive search consultant 's compensation is earned by generating net revenue for winning and executing work . each quarter , we review and update the expected annual performance of all executive search consultants and accrue variable compensation accordingly . the amount of variable compensation that is accrued for each executive search consultant is based on a tiered payout model . overall company performance determines the amount available for total variable compensation . the more net revenue that is generated by the consultant , the higher the percentage credited towards the consultant 's variable compensation and thus accrued by our company as expense . at the heidrick consulting consultant level , there are also fixed and variable components of compensation . overall compensation is determined based on the total economic contribution of the heidrick consulting segment to the business as a whole . individual consultant compensation can vary , and is derived from credits earned for delivering client work plus credits earned for contributions of intellectual and human capital , client relationship development and consulting practice development . each quarter , we review and update the expected annual performance of all heidrick consulting consultants and accrue variable compensation accordingly . the mix of individual consultants who generate revenue in executive search and economic contributions in heidrick consulting can significantly affect the total amount of compensation expense recorded , which directly impacts operating margin . as a result , the variable portion of the compensation expense may fluctuate significantly from quarter to quarter . the total variable compensation is discretionary , and is based on company-wide financial targets approved by the human resources and compensation committee of the board of directors . a portion of our executive search consultants ' and management cash bonuses is deferred and paid over a three-year vesting period . the compensation expense related to the amounts being deferred is recognized on a graded vesting attribution method over the requisite service period . this service period begins on january 1 of the respective fiscal year and continues through the deferral date , which coincides with our bonus payments in the first quarter of the following year , and for an additional three year vesting period . the deferrals are recorded in accrued salaries and employee benefits in the consolidated balance sheets . 2018 overview consolidated net revenue was $ 716.0 million for the year ended december 31 , 2018 , an increase of $ 94.6 million , or 15.2 % , compared to 2017. executive search net revenue was $ 652.9 million in 2018 , an increase of $ 100.8 million compared to 2017. the increase in executive search net revenue was the result of growth in the americas , europe and asia pacific . our acquisition of amrop a/s ( `` amrop `` ) in january 2018 also contributed to the growth in executive search net revenue . the net impact of the new revenue recognition standard increased executive search net revenue by approximately $ 8.0 million . story_separator_special_tag variable compensation increased $ 5.9 million due to higher bonus accruals for consultant performance . the impact of the new revenue recognition standard increased salaries and benefits expense by approximately $ 2.1 million . 24 general and administrative expenses decreased $ 3.3 million , or 13.6 % from 2017 primarily due to decreases in bad debt , internal travel and office occupancy . restructuring charges were $ 2.0 million for the year ended december 31 , 2017. these charges include approximately $ 1.8 million in severance-related charges , $ 0.1 million in office-related charges and $ 0.1 million in professional fees and other expenses . the asia pacific segment reported operating income of $ 16.0 million in 2018 , an increase of $ 15.5 million compared to $ 0.5 million in 2017. excluding the impact of restructuring charges in 2017 , operating income increased $ 13.4 million from $ 2.6 million to $ 16.0 million . heidrick consulting the heidrick consulting segment reported net revenue of $ 63.1 million in 2018 , a decrease of 9.0 % compared to $ 69.4 million in 2017. the decline in revenue was primarily the result of the adoption of the new revenue recognition standard and its $ 3.8 million negative impact on revenue associated with enterprise agreements . enterprise agreements are now recognized over a longer term due to certain renewal options included in the contract . foreign exchange rate fluctuations positively impacted results by $ 0.7 million , or 1.1 % . there were 66 heidrick consulting partner and principal consultants as of december 31 , 2018 , compared to 64 as of december 31 , 2017. salaries and employee benefits expense increased $ 3.9 million , or 8.0 % , from 2017. fixed compensation increased $ 4.6 million primarily due to increases in talent acquisition and retention costs , and base salaries and payroll taxes , partially offset by a decrease in retirement and benefits . variable compensation decreased $ 0.7 million due to lower bonus accruals for consultant performance . the impact of the new revenue recognition standard decreased salaries and benefits expense by approximately $ 2.7 million . general and administrative expenses decreased $ 4.8 million , or 16.7 % , from 2017 primarily as a result of decreases in the use of external third-party consultants and intangible amortization as a result of impairment in the prior year , partially offset by an increase in professional services . impairment charges for the year ended december 31 , 2017 were $ 50.7 million due to the impairment of goodwill and amortizable intangible assets associated with our leadership consulting and culture shaping reporting units . the impairment charge is recorded within impairment charges in the condensed consolidated statement of comprehensive income ( loss ) for the year ended december 31 , 2017. in 2018 , the company completed the integration of its leadership consulting and culture shaping businesses into one combined service offering , heidrick consulting . restructuring charges were $ 3.4 million for the year ended december 31 , 2017. these charges included approximately $ 2.1 million in severance-related charges , $ 1.2 million in professional fees and other expenses and $ 0.1 million in office-related charges . the heidrick consulting segment reported an operating loss of $ 13.6 million in 2018 , an increase of $ 48.7 million , compared to an operating loss of $ 62.4 million in 2017. excluding the impact of impairment and restructuring charges in 2017 , operating loss decreased $ 5.4 million from a loss of $ 8.3 million to a loss of $ 13.6 million . global operations support global operations support expenses decreased $ 3.8 million , or 9.5 % , to $ 36.3 million from $ 40.0 million in 2017. salaries and employee benefits expense increased $ 2.8 million , or 15.4 % , due to increases in management and support bonuses , stock compensation and separation costs , partially offset by a decrease in the deferred compensation plan due to market fluctuations . general and administrative expense decreased $ 1.2 million due to decreases in internal travel , professional fees , hiring fees and communications services , partially offset by an increase in office occupancy . restructuring charges were $ 5.5 million for the year ended december 31 , 2017. these charges included approximately $ 4.5 million of severance-related charges and $ 0.9 million of professional fees and other costs . excluding the impact of restructuring charges in 2017 , expenses increased $ 1.7 million from $ 34.6 million in 2017 to $ 36.3 million in 2018 . 25 year ended december 31 , 2017 compared to year ended december 31 , 2016 total revenue . consolidated total revenue increased $ 39.2 million , or 6.5 % , to $ 640.1 million for the year ended december 31 , 2017 from $ 600.9 million for the year ended december 31 , 2016. the increase in total revenue was primarily due to the increase in revenue before reimbursements ( net revenue ) . revenue before reimbursements ( net revenue ) . consolidated net revenue increased $ 39.0 million or 6.7 % , to $ 621.4 million in 2017 , from $ 582.4 million in 2016. foreign exchange rate fluctuations negatively impacted results by $ 1.4 million , or 0.2 % . executive search net revenue was $ 552.0 million in 2017 , an increase of $ 44.7 million from 2016. the increase in executive search net revenue was the result of growth in the americas , europe and asia pacific . heidrick consulting net revenue decreased $ 5.7 million , or 7.6 % , to $ 69.4 million in 2017 from $ 75.0 million in 2016. the number of executive search and heidrick consulting consultants was 346 and 64 , respectively , as of december 31 , 2017 compared to 335 and 62 , respectively , as of december 31 , 2016. specific to executive search , productivity as measured by

