the number of impressions delivered by a display is measured by the number of people passing the site during a defined period of time . for all of our billboards in the united states , we use independent , third-party auditing companies to verify the number of impressions delivered by a display . client contract terms typically range from four weeks to one year for the majority of our display inventory in the united states . generally , we own the street furniture structures and are responsible for their construction and maintenance . contracts for the right to place our street furniture and transit displays and sell advertising space on them are awarded by municipal and transit authorities in competitive bidding processes governed by local law or are negotiated with private transit operators . generally , these contracts have terms ranging from 10 to 20 years . international similar to our americas business , advertising rates generally are based on the gross ratings points of a display or group of displays . the number of impressions delivered by a display , in some countries , is weighted to account for such factors as 30 illumination , proximity to other displays and the speed and viewing angle of approaching traffic . in addition , because our international advertising operations are conducted in foreign markets , including europe and asia , management reviews the operating results from our foreign operations on a constant dollar basis . a constant dollar basis allows for comparison of operations independent of foreign exchange movements . our international display inventory is typically sold to clients through network packages , with client contract terms typically ranging from one to two weeks with terms of up to one year available as well . internationally , contracts with municipal and transit authorities for the right to place our street furniture and transit displays typically provide for terms ranging from three to 15 years . the major difference between our international and americas street furniture businesses is in the nature of the municipal contracts . in our international business , these contracts typically require us to provide the municipality with a broader range of metropolitan amenities in exchange for which we are authorized to sell advertising space on certain sections of the structures we erect in the public domain . a different regulatory environment for billboards and competitive bidding for street furniture and transit display contracts , which constitute a larger portion of our business internationally , may result in higher site lease costs in our international business . macroeconomic indicators our advertising revenue for our americas and international segments is highly correlated to changes in gross domestic product ( “ gdp ” ) as advertising spending has historically trended in line with gdp , both domestically and internationally . according to the u.s. department of commerce , estimated u.s. gdp growth for 2016 was 1.6 % . internationally , our results are impacted by fluctuations in foreign currency exchange rates as well as the economic conditions in the foreign markets in which we have operations . relationship with iheartcommunications there are several agreements which govern our relationship with iheartcommunications including the master agreement , corporate services agreement , employee matters agreement , tax matters agreement and trademark and license agreement . iheartcommunications has the right to terminate these agreements in various circumstances . as of the date of the filing of this annual report on form 10-k , no notice of termination of any of these agreements has been received from iheartcommunications . our agreements with iheartcommunications continued under the same terms and conditions subsequent to iheartcommunications ' merger . in accordance with the master agreement , our branch managers follow a corporate policy allowing iheartcommunications to use , without charge , americas ' displays they believe would otherwise be unsold . iheartcommunications bears the cost of producing the advertising and we bear the costs of installing and removing this advertising . under the corporate services agreement , iheartcommunications provides management services to us . these services are charged to us based on actual direct costs incurred or allocated by iheartcommunications based on headcount , revenue or other factors on a pro rata basis . for the years ended december 31 , 2016 , 2015 and 2014 , we recorded approximately $ 36.0 million , $ 30.1 million and $ 31.2 million , respectively , as a component of corporate expenses for these services . the trademark license agreement entitles us to use ( 1 ) on a nonexclusive basis , the `` clear channel `` trademark and the clear channel `` outdoor `` trademark logo with respect to day-to-day operations of our business worldwide and on the internet , and ( 2 ) certain other clear channel marks in connection with our business . on february 9 , 2017 , we entered into a binding option and letter of intent with iheartmedia granting us a binding option to purchase the registered trademarks and domain names owned by iheartmedia and its subsidiaries that incorporate one or more of the words `` clear `` and or `` channel , `` and any translations or derivations of any of the foregoing , together with any goodwill associated therewith . this option is exercisable in our sole and absolute discretion at any time between february 23 , 2018 and february 23 , 2019. on august 9 , 2010 , iheartcommunications announced that its board of directors approved a stock purchase program under which iheartcommunications or its subsidiaries may purchase up to an aggregate of $ 100.0 million of our class a common stock and or the class a common stock of iheartmedia . as of december 31 , 2014 , an aggregate $ 34.2 million was available under this program . in january 2015 , a subsidiary of iheartcommunications purchased an additional 2,000,000 shares of the company 's class a common stock for $ 20.4 million . story_separator_special_tag international sg & a expenses decreased $ 16.6 million during 2015 compared to 2014. excluding the $ 45.0 million impact from movements in foreign exchange rates , international sg & a expenses increased $ 28.4 million during 2015 compared to 2014 primarily due to higher compensation expense , including commissions in connection with higher revenues . 36 corporate expenses corporate expenses decreased $ 14.5 million during 2015 compared to 2014. excluding the $ 3.5 million impact from movements in foreign exchange rates , corporate expenses decreased $ 11.0 million during 2015 compared to 2014. corporate expenses were primarily impacted by lower spending related to our strategic revenue and efficiency initiatives , partially offset by higher variable compensation expense . revenue and efficiency initiatives included in the amounts for direct operating expenses , sg & a and corporate expenses discussed above are expenses of $ 20.3 million incurred in 2015 in connection with our strategic revenue and efficiency initiatives . the costs were incurred to improve revenue growth , enhance yield , reduce costs , and organize each business to maximize performance and profitability . these costs consist primarily of severance related to workforce initiatives , consolidation of locations and positions , consulting expenses and other costs incurred in connection with streamlining our businesses . these costs are expected to provide benefits in future periods as the initiative results are realized . of these costs for 2015 , $ 9.2 million are reported within direct operating expenses , $ 4.3 million are reported within sg & a and $ 6.8 million are reported within corporate expense . in 2014 , such costs totaled $ 3.5 million , $ 6.7 million , and $ 20.0 million , respectively . depreciation and amortization depreciation and amortization decreased $ 30.3 million during 2015 compared to 2014 primarily due to assets becoming fully depreciated or fully amortized as well as the impact of movements in foreign exchange rates . impairment charges we perform our annual impairment test on our goodwill , billboard permits , and other intangible assets as of july 1 of each year . in addition , we test for impairment of property , plant and equipment whenever events and circumstances indicate that depreciable assets might be impaired . as a result of these impairment tests , during 2015 , we recorded impairment charges of $ 21.6 million during 2015 related to billboard permits in one americas outdoor market . during 2014 , we recognized a $ 3.5 million other intangible assets impairment charge in our americas segment primarily related to a decline in the estimated fair value of permanent easements in two markets . please see note 2 to the consolidated financial statements included in item 8 of part ii of this annual report on form 10-k for a further description of the impairment charges . other operating income , net other operating expense , net of $ 4.8 million in 2015 primarily related to acquisition/disposition transaction costs . other operating income , net of $ 7.3 million in 2014 primarily related to the gain on the sale of certain outdoor assets in our americas segment . interest expense interest expense increased $ 2.4 million in 2015 compared to 2014. interest income on due from iheartcommunications interest income increased $ 1.3 million during 2015 compared to 2014 due to the increase in the average outstanding balance on the due from iheartcommunications note . equity in earnings ( loss ) of nonconsolidated affiliates equity in loss of nonconsolidated affiliates of $ 0.3 million for 2015 included the loss from our equity investments in our americas and international segments . equity in earnings of nonconsolidated affiliates of $ 3.8 million for 2014 included the earnings from our equity investments in our americas and international segments . other income , net other income of $ 12.4 million and $ 15.2 million for 2015 and 2014 , respectively , primarily related to foreign exchange gains on short-term intercompany accounts . 37 income tax ( expense ) benefit our operations are included in a consolidated income tax return filed by iheartmedia . however , for our financial statements , our provision for income taxes was computed as if we file separate consolidated federal income tax returns with our subsidiaries . the effective tax rate for 2015 was ( 237.5 ) % and was primarily impacted by the $ 32.9 million valuation allowance recorded during the period as additional deferred tax expense . the valuation allowance was recorded against a portion of the u.s. federal and state net operating losses due to the uncertainty of the ability to utilize those losses in future periods . additionally , the company recorded additional taxes due to the inability to benefit from losses in certain foreign jurisdictions . the effective tax rate for 2014 was ( 105.5 ) % , primarily impacted by our benefits and charges from tax amounts associated with our foreign earnings that are taxed at rates different from the federal statutory rate and an inability to benefit from losses in certain foreign jurisdictions . in addition , we recorded $ 20.0 million in net tax benefits associated with a decrease in unrecognized tax benefits resulting from the expiration of statutes of limitations to assess taxes in the united kingdom and several state jurisdictions . americas results of operations our americas operating results were as follows : replace_table_token_12_th americas revenue decreased $ 1.6 million during 2015 compared to 2014. excluding the $ 23.4 million impact from movements in foreign exchange rates , americas revenue increased $ 21.8 million during 2015 compared to 2014 driven primarily by an increase in revenues from digital billboards as a result of new deployments , as well as from our spectacolor business , partially offset by lower advertising revenues from our static bulletins and posters , and our airports business . americas direct operating expenses decreased $ 8.4 million during 2015 compared to 2014. excluding the $ 13.1 million impact from movements in

cash provided by investing activities of $ 551.5 million during 2016 primarily reflected $ 592.3 million of net cash proceeds from the sale of nine non-strategic outdoor markets including cleveland and columbus , ohio , des moines , iowa , ft. smith , arkansas , memphis , tennessee , portland , oregon , reno , nevada , seattle , washington and wichita , kansas , and the sale of our business in australia for $ 195.7 million , net of cash retained by the purchaser and closing costs . those sale proceeds were partially offset by $ 229.8 million used for capital expenditures . we spent $ 81.4 million in our americas segment primarily related to the construction of new advertising structures such as digital displays , $ 143.8 million in our international segment primarily related to street furniture advertising structures , and $ 4.6 million by corporate primarily related to equipment and software . 40 2015 cash used for investing activities of $ 257.7 million during 2015 reflected our capital expenditures of $ 218.3 million . we spent $ 82.2 million in our americas segment primarily related to the construction of new advertising structures such as digital displays , $ 132.6 million in our international segment primarily related to street furniture advertising and digital billboard structures , and $ 3.5 million by corporate primarily related to equipment and software . other cash provided by investing activities were $ 11.3 million of proceeds from sales of other operating and fixed assets . 2014 cash used for investing activities of $ 206.4 million during 2014 reflected our capital expenditures of $ 231.2 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 provided by investing activities of $ 551.5 million during 2016 primarily reflected $ 592.3 million of net cash proceeds from the sale of nine non-strategic outdoor markets including cleveland and columbus , ohio , des moines , iowa , ft. smith , arkansas , memphis , tennessee , portland , oregon , reno , nevada , seattle , washington and wichita , kansas , and the sale of our business in australia for $ 195.7 million , net of cash retained by the purchaser and closing costs . those sale proceeds were partially offset by $ 229.8 million used for capital expenditures . we spent $ 81.4 million in our americas segment primarily related to the construction of new advertising structures such as digital displays , $ 143.8 million in our international segment primarily related to street furniture advertising structures , and $ 4.6 million by corporate primarily related to equipment and software . 40 2015 cash used for investing activities of $ 257.7 million during 2015 reflected our capital expenditures of $ 218.3 million . we spent $ 82.2 million in our americas segment primarily related to the construction of new advertising structures such as digital displays , $ 132.6 million in our international segment primarily related to street furniture advertising and digital billboard structures , and $ 3.5 million by corporate primarily related to equipment and software . other cash provided by investing activities were $ 11.3 million of proceeds from sales of other operating and fixed assets . 2014 cash used for investing activities of $ 206.4 million during 2014 reflected our capital expenditures of $ 231.2 million .
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 Suspicious Activity Report : the number of impressions delivered by a display is measured by the number of people passing the site during a defined period of time . for all of our billboards in the united states , we use independent , third-party auditing companies to verify the number of impressions delivered by a display . client contract terms typically range from four weeks to one year for the majority of our display inventory in the united states . generally , we own the street furniture structures and are responsible for their construction and maintenance . contracts for the right to place our street furniture and transit displays and sell advertising space on them are awarded by municipal and transit authorities in competitive bidding processes governed by local law or are negotiated with private transit operators . generally , these contracts have terms ranging from 10 to 20 years . international similar to our americas business , advertising rates generally are based on the gross ratings points of a display or group of displays . the number of impressions delivered by a display , in some countries , is weighted to account for such factors as 30 illumination , proximity to other displays and the speed and viewing angle of approaching traffic . in addition , because our international advertising operations are conducted in foreign markets , including europe and asia , management reviews the operating results from our foreign operations on a constant dollar basis . a constant dollar basis allows for comparison of operations independent of foreign exchange movements . our international display inventory is typically sold to clients through network packages , with client contract terms typically ranging from one to two weeks with terms of up to one year available as well . internationally , contracts with municipal and transit authorities for the right to place our street furniture and transit displays typically provide for terms ranging from three to 15 years . the major difference between our international and americas street furniture businesses is in the nature of the municipal contracts . in our international business , these contracts typically require us to provide the municipality with a broader range of metropolitan amenities in exchange for which we are authorized to sell advertising space on certain sections of the structures we erect in the public domain . a different regulatory environment for billboards and competitive bidding for street furniture and transit display contracts , which constitute a larger portion of our business internationally , may result in higher site lease costs in our international business . macroeconomic indicators our advertising revenue for our americas and international segments is highly correlated to changes in gross domestic product ( “ gdp ” ) as advertising spending has historically trended in line with gdp , both domestically and internationally . according to the u.s. department of commerce , estimated u.s. gdp growth for 2016 was 1.6 % . internationally , our results are impacted by fluctuations in foreign currency exchange rates as well as the economic conditions in the foreign markets in which we have operations . relationship with iheartcommunications there are several agreements which govern our relationship with iheartcommunications including the master agreement , corporate services agreement , employee matters agreement , tax matters agreement and trademark and license agreement . iheartcommunications has the right to terminate these agreements in various circumstances . as of the date of the filing of this annual report on form 10-k , no notice of termination of any of these agreements has been received from iheartcommunications . our agreements with iheartcommunications continued under the same terms and conditions subsequent to iheartcommunications ' merger . in accordance with the master agreement , our branch managers follow a corporate policy allowing iheartcommunications to use , without charge , americas ' displays they believe would otherwise be unsold . iheartcommunications bears the cost of producing the advertising and we bear the costs of installing and removing this advertising . under the corporate services agreement , iheartcommunications provides management services to us . these services are charged to us based on actual direct costs incurred or allocated by iheartcommunications based on headcount , revenue or other factors on a pro rata basis . for the years ended december 31 , 2016 , 2015 and 2014 , we recorded approximately $ 36.0 million , $ 30.1 million and $ 31.2 million , respectively , as a component of corporate expenses for these services . the trademark license agreement entitles us to use ( 1 ) on a nonexclusive basis , the `` clear channel `` trademark and the clear channel `` outdoor `` trademark logo with respect to day-to-day operations of our business worldwide and on the internet , and ( 2 ) certain other clear channel marks in connection with our business . on february 9 , 2017 , we entered into a binding option and letter of intent with iheartmedia granting us a binding option to purchase the registered trademarks and domain names owned by iheartmedia and its subsidiaries that incorporate one or more of the words `` clear `` and or `` channel , `` and any translations or derivations of any of the foregoing , together with any goodwill associated therewith . this option is exercisable in our sole and absolute discretion at any time between february 23 , 2018 and february 23 , 2019. on august 9 , 2010 , iheartcommunications announced that its board of directors approved a stock purchase program under which iheartcommunications or its subsidiaries may purchase up to an aggregate of $ 100.0 million of our class a common stock and or the class a common stock of iheartmedia . as of december 31 , 2014 , an aggregate $ 34.2 million was available under this program . in january 2015 , a subsidiary of iheartcommunications purchased an additional 2,000,000 shares of the company 's class a common stock for $ 20.4 million . story_separator_special_tag international sg & a expenses decreased $ 16.6 million during 2015 compared to 2014. excluding the $ 45.0 million impact from movements in foreign exchange rates , international sg & a expenses increased $ 28.4 million during 2015 compared to 2014 primarily due to higher compensation expense , including commissions in connection with higher revenues . 36 corporate expenses corporate expenses decreased $ 14.5 million during 2015 compared to 2014. excluding the $ 3.5 million impact from movements in foreign exchange rates , corporate expenses decreased $ 11.0 million during 2015 compared to 2014. corporate expenses were primarily impacted by lower spending related to our strategic revenue and efficiency initiatives , partially offset by higher variable compensation expense . revenue and efficiency initiatives included in the amounts for direct operating expenses , sg & a and corporate expenses discussed above are expenses of $ 20.3 million incurred in 2015 in connection with our strategic revenue and efficiency initiatives . the costs were incurred to improve revenue growth , enhance yield , reduce costs , and organize each business to maximize performance and profitability . these costs consist primarily of severance related to workforce initiatives , consolidation of locations and positions , consulting expenses and other costs incurred in connection with streamlining our businesses . these costs are expected to provide benefits in future periods as the initiative results are realized . of these costs for 2015 , $ 9.2 million are reported within direct operating expenses , $ 4.3 million are reported within sg & a and $ 6.8 million are reported within corporate expense . in 2014 , such costs totaled $ 3.5 million , $ 6.7 million , and $ 20.0 million , respectively . depreciation and amortization depreciation and amortization decreased $ 30.3 million during 2015 compared to 2014 primarily due to assets becoming fully depreciated or fully amortized as well as the impact of movements in foreign exchange rates . impairment charges we perform our annual impairment test on our goodwill , billboard permits , and other intangible assets as of july 1 of each year . in addition , we test for impairment of property , plant and equipment whenever events and circumstances indicate that depreciable assets might be impaired . as a result of these impairment tests , during 2015 , we recorded impairment charges of $ 21.6 million during 2015 related to billboard permits in one americas outdoor market . during 2014 , we recognized a $ 3.5 million other intangible assets impairment charge in our americas segment primarily related to a decline in the estimated fair value of permanent easements in two markets . please see note 2 to the consolidated financial statements included in item 8 of part ii of this annual report on form 10-k for a further description of the impairment charges . other operating income , net other operating expense , net of $ 4.8 million in 2015 primarily related to acquisition/disposition transaction costs . other operating income , net of $ 7.3 million in 2014 primarily related to the gain on the sale of certain outdoor assets in our americas segment . interest expense interest expense increased $ 2.4 million in 2015 compared to 2014. interest income on due from iheartcommunications interest income increased $ 1.3 million during 2015 compared to 2014 due to the increase in the average outstanding balance on the due from iheartcommunications note . equity in earnings ( loss ) of nonconsolidated affiliates equity in loss of nonconsolidated affiliates of $ 0.3 million for 2015 included the loss from our equity investments in our americas and international segments . equity in earnings of nonconsolidated affiliates of $ 3.8 million for 2014 included the earnings from our equity investments in our americas and international segments . other income , net other income of $ 12.4 million and $ 15.2 million for 2015 and 2014 , respectively , primarily related to foreign exchange gains on short-term intercompany accounts . 37 income tax ( expense ) benefit our operations are included in a consolidated income tax return filed by iheartmedia . however , for our financial statements , our provision for income taxes was computed as if we file separate consolidated federal income tax returns with our subsidiaries . the effective tax rate for 2015 was ( 237.5 ) % and was primarily impacted by the $ 32.9 million valuation allowance recorded during the period as additional deferred tax expense . the valuation allowance was recorded against a portion of the u.s. federal and state net operating losses due to the uncertainty of the ability to utilize those losses in future periods . additionally , the company recorded additional taxes due to the inability to benefit from losses in certain foreign jurisdictions . the effective tax rate for 2014 was ( 105.5 ) % , primarily impacted by our benefits and charges from tax amounts associated with our foreign earnings that are taxed at rates different from the federal statutory rate and an inability to benefit from losses in certain foreign jurisdictions . in addition , we recorded $ 20.0 million in net tax benefits associated with a decrease in unrecognized tax benefits resulting from the expiration of statutes of limitations to assess taxes in the united kingdom and several state jurisdictions . americas results of operations our americas operating results were as follows : replace_table_token_12_th americas revenue decreased $ 1.6 million during 2015 compared to 2014. excluding the $ 23.4 million impact from movements in foreign exchange rates , americas revenue increased $ 21.8 million during 2015 compared to 2014 driven primarily by an increase in revenues from digital billboards as a result of new deployments , as well as from our spectacolor business , partially offset by lower advertising revenues from our static bulletins and posters , and our airports business . americas direct operating expenses decreased $ 8.4 million during 2015 compared to 2014. excluding the $ 13.1 million impact from movements in

