our cloud connect feature provides private , secure , pre-established connectivity to leading cloud service providers . using gtt 's global network , clients can connect any office location in the world to any application in the cloud . sd-wan is an enterprise networking technology in the early stages of market adoption with high growth potential . the software-based network intelligence in sd-wan enables more efficient delivery of traffic across a mix of access types , accelerates the speed of service deployments , and improves application visibility and performance . gtt 's sd-wan delivers managed global connectivity , enhanced application performance and control , and secure access to cloud-based services and applications . our service leverages gtt 's global , tier 1 ip network , securely connecting client locations to any destination on the internet or to any cloud service provider . we offer the widest range of access options with bundled network security , making it simple and cost-effective to integrate new locations and add network bandwidth as needed . transport & infrastructure services we provide a full suite of transport and infrastructure services over our global network , enabling cloud-based applications and the transport of high volume data between data centers , large enterprise office locations , and media hubs . our service is 20 differentiated based on an expansive pan-european fiber footprint and subsea cable infrastructure , network diversity , and low latency connections between major financial and commercial centers in north america and europe . our clients for these services include internet-based technology companies and otts , large banks , and other service providers requiring network infrastructure . all services are available on a protected basis with the ability to specify pre-configured alternate routes to minimize the impact of any network disruption . gtt 's wavelength service is designed to deliver scalable high-performance optical connectivity over a state-of-the-art dense wave division multiplexing platform . we offer low latency services between the major financial centers and exchanges , tailored to meet the requirements of proprietary trading firms for the fastest connections . in particular , gtt 's express transatlantic cable offers industry leading lowest latency between north america and europe . we also offer dark fiber and duct services across our fiber network . gtt 's ethernet service enables clients to design a network environment best suited to their needs , with point-to-point and point-to-multipoint topology options , and dynamic or fixed routing . gtt 's ethernet direct service provides enhanced performance capabilities for clients seeking guaranteed routes and latency slas between key financial markets , data centers and carrier hotels over a service-specific platform . this service is particularly suited for the financial industry , including trading firms that may require a lower-bandwidth alternative to wavelength services . financial organizations can also leverage our low-latency network to access over 60 unique routes and more than 130 financial exchanges . we offer colocation services in over 50 facilities in europe and north america . the turnkey service offering includes cabinets , racks , suites , and technical support services , providing clients with efficient and secure access to other carrier networks . we offer a suite of video transport services for clients in the media and entertainment industry , designed to support broadcast quality transmission of live events , sports entertainment , and news . we can manage individual services , multicast distribution , and entire client networks , supporting all video formats required for today 's media workflow . internet we offer clients scalable , high-bandwidth global internet connectivity and ip transit with guaranteed availability and packet delivery , utilizing our tier global 1 ip network . our internet services offer flexible connectivity with multiple port interfaces including fast ethernet , gigabit ethernet , 10 gigabit ethernet , and 100 gigabit ethernet . we also offer a wide range of broadband internet and wireless internet access services . we support a dual stack of ipv4 and ipv6 protocols , enabling the delivery of seamless ipv6 services alongside existing ipv4 services . managed services we offer fully managed network services , including managed equipment , security , and managed hosting . gtt 's managed equipment provides a turnkey solution for the end-to-end management of customer premise equipment . this includes the design , procurement , implementation , monitoring , and maintenance of equipment including routers , switches , servers , and wi-fi access points . gtt 's managed security is available as a cloud-based or premises-based security service and provides a comprehensive , multi-layered security solution that protects the network while meeting the most stringent security standards . our unified threat management services include advanced firewall , intrusion detection , anti-virus , web filtering , and anti-spam . gtt 's ddos mitigation service detects and removes malicious traffic , ensuring business continuity for our clients , even in the event of a large-scale ddos attack . the service utilizes a next-generation ddos platform technology , which provides immediate threat detection , deep packet inspection analytics and filtering of compromised traffic at gtt 's scrubbing centers . we offer a full range of compliancy packages , which include developing , deploying , configuring , and monitoring network and security assets , and providing documentation to comply with audits . gtt 's managed hosting service includes application hosting and management . voice we offer local voice service in over 60 countries around the world , along with global long-distance and toll-free services . our sip trunking service delivers worldwide pstn access to client telephony equipment over an integrated data connection , driving efficiency and productivity organization-wide while allowing clients to retain control of their core voice infrastructure . our hosted pbx service allows clients to eliminate traditional voice infrastructure with communication services delivered through the cloud 21 and a wide array of features and customization choices for each site and user . story_separator_special_tag on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2017 , revenue would have been lower by $ 24.1 million for the year ended december 31 , 2018 . cost of telecommunications services cost of telecommunications services increased by $ 387.3 million , or 89.6 % , from $ 432.1 million for the year ended december 31 , 2017 to $ 819.4 million for the year ended december 31 , 2018 . recurring cost of telecommunications services was approximately 94 % and 95 % of total cost of telecommunications services for the year ended december 31 , 2018 and 2017 , respectively . consistent 27 with our increase in revenue , the increase in cost of telecommunications services was principally driven by the 2017 acquisitions and 2018 acquisitions . on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2017 , cost of telecommunications services would have been lower by $ 12.2 million for the year ended december 31 , 2018 . operating expenses selling , general and administrative expenses . selling , general and administrative expenses increased by $ 167.8 million , or 77.9 % , from $ 215.4 million for the year ended december 31 , 2017 to $ 383.2 million for the year ended december 31 , 2018 . the following table summarizes the major categories of selling , general and administrative expenses for the years ended december 31 , 2018 and 2017 ( amounts in millions ) : replace_table_token_8_th ( 1 ) includes bad debt expense , professional fees , marketing costs , facilities , and other general support costs . employee related compensation increased primarily due to the 2017 acquisitions and 2018 acquisitions . share-based compensation expense increases were driven by the recognition of share-based compensation for performance awards and an increase in the aggregate value of employee equity awards due to an overall increase in employees and an increase in fair value of the awards . transaction and integration expense increases were driven by the 2018 acquisitions . other sg & a expense increases were principally driven by the 2017 acquisitions and 2018 acquisitions . on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2017 , selling , general and administrative expenses would have been lower by $ 5.7 million for the year ended december 31 , 2018 . severance , restructuring and other exit costs . for the year ended december 31 , 2018 , we incurred severance , restructuring and other exit costs of $ 37.1 million relating to the 2018 acquisitions . we incurred severance , restructuring and other exit costs of $ 22.4 million for the year ended december 31 , 2017 relating to the 2017 acquisitions . depreciation and amortization . amortization of intangible assets increased $ 17.4 million or 25.2 % , from $ 69.0 million for the year ended december 31 , 2017 to $ 86.4 million for the year ended december 31 , 2018 , primarily due to the additional definite-lived intangible assets recorded in connection with the 2017 acquisitions and 2018 acquisitions . depreciation expense increased $ 61.4 million , or 96.5 % from $ 63.6 million to $ 125.0 million for the year ended december 31 , 2018 , primarily due to assets acquired from the interoute acquisition . other expense other expense increased by $ 209.0 million , or 262.6 % from $ 79.6 million for the year ended december 31 , 2017 to $ 288.6 million for the year ended december 31 , 2018 . this is primarily attributed to higher interest expense due to higher debt levels driven by the 2017 acquisitions and 2018 acquisitions , loss on derivative financial instruments of $ 128.6 million primarily related to the cost of the currency hedge for the interoute acquisition of $ 105.8 million , loss due to changes in fair value on the interest rate swaps of $ 22.4 million , and a loss on debt extinguishment of $ 13.8 million . benefit from ( provision for ) income taxes our benefit from income taxes for the year ended december 31 , 2018 was $ 5.5 million . our effective tax rate was lower than the u.s. federal statutory rate of 21 % primarily due to a valuation allowance recorded against u.s. and certain foreign net deferred tax assets which also offset the impacts of tax expense associated with uncertain tax positions and the tax benefit from finalizing the 2017 impacts of the tax act . the provision for income taxes for the year ended december 31 , 2017 was $ 17.3 million . our effective tax rate for the year ended december 31 , 2017 differed from the u.s. federal statutory rate of 35 % due to the recording of a $ 29.0 million valuation 28 allowance against u.s. deferred tax assets and the one-time adjustments related to the tax act for which we recorded a provisional estimate of $ 17.3 million . year ended december 31 , 2017 compared to year ended december 31 , 2016 revenue our revenue increased by $ 300.6 million , or 57.0 % , from $ 527.3 million for the year ended december 31 , 2016 to $ 827.9 million for the year ended december 31 , 2017 . recurring revenue was approximately 94 % and 92 % of total revenue for the year ended december 31 , 2017 and 2016 , respectively . the increase in revenue was primarily due to the 2017 acquisitions and the purchase of certain customer contracts . on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2016 , revenue would have been higher by $ 3.5 million for the year ended december 31 , 2017 . cost of telecommunications services cost of telecommunications services increased by $ 152.5 million ,

cash provided by operating activities our largest source of cash provided by operating activities is monthly recurring revenue from our customers . our primary uses of cash are payments to network suppliers , compensation related costs , interest expense , and payments to third-party vendors such as agents , contractors , and professional service providers . 30 net cash flows provided by operating activities increased by $ 19.0 million , from $ 63.4 million for the year ended december 31 , 2017 to $ 82.4 million for the year ended december 31 , 2018 . this increase was primarily due to the 2017 acquisitions and 2018 acquisitions , partially offset by higher interest expense , as well as non-recurring cash payments for severance and exit costs , and for transaction and integration costs . net cash flows provided by operating activities increased by $ 3.0 million , from $ 60.4 million for the year ended december 31 , 2016 to $ 63.4 million for the year ended december 31 , 2017 . this increase was primarily due to the 2017 acquisitions and the purchase of certain customer contracts , partially offset by non-recurring cash payments for severance and exit costs , and for transaction and integration costs . cash provided by operating activities during the year ended december 31 , 2018 included $ 34.7 million cash paid for severance and exit costs and $ 34.3 million cash paid for transaction and integration costs . cash provided by operating activities during the year ended december 31 , 2017 included $ 15.9 million cash paid for severance and exit costs and $ 19.1 million cash paid for transaction and integration costs . cash provided by operating activities during the year ended december 31 , 2016 included $ 4.5 million cash paid for severance and exit costs and $ 4.8 million cash paid for transaction and integration costs .


 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 operating activities our largest source of cash provided by operating activities is monthly recurring revenue from our customers . our primary uses of cash are payments to network suppliers , compensation related costs , interest expense , and payments to third-party vendors such as agents , contractors , and professional service providers . 30 net cash flows provided by operating activities increased by $ 19.0 million , from $ 63.4 million for the year ended december 31 , 2017 to $ 82.4 million for the year ended december 31 , 2018 . this increase was primarily due to the 2017 acquisitions and 2018 acquisitions , partially offset by higher interest expense , as well as non-recurring cash payments for severance and exit costs , and for transaction and integration costs . net cash flows provided by operating activities increased by $ 3.0 million , from $ 60.4 million for the year ended december 31 , 2016 to $ 63.4 million for the year ended december 31 , 2017 . this increase was primarily due to the 2017 acquisitions and the purchase of certain customer contracts , partially offset by non-recurring cash payments for severance and exit costs , and for transaction and integration costs . cash provided by operating activities during the year ended december 31 , 2018 included $ 34.7 million cash paid for severance and exit costs and $ 34.3 million cash paid for transaction and integration costs . cash provided by operating activities during the year ended december 31 , 2017 included $ 15.9 million cash paid for severance and exit costs and $ 19.1 million cash paid for transaction and integration costs . cash provided by operating activities during the year ended december 31 , 2016 included $ 4.5 million cash paid for severance and exit costs and $ 4.8 million cash paid for transaction and integration costs .
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 Suspicious Activity Report : our cloud connect feature provides private , secure , pre-established connectivity to leading cloud service providers . using gtt 's global network , clients can connect any office location in the world to any application in the cloud . sd-wan is an enterprise networking technology in the early stages of market adoption with high growth potential . the software-based network intelligence in sd-wan enables more efficient delivery of traffic across a mix of access types , accelerates the speed of service deployments , and improves application visibility and performance . gtt 's sd-wan delivers managed global connectivity , enhanced application performance and control , and secure access to cloud-based services and applications . our service leverages gtt 's global , tier 1 ip network , securely connecting client locations to any destination on the internet or to any cloud service provider . we offer the widest range of access options with bundled network security , making it simple and cost-effective to integrate new locations and add network bandwidth as needed . transport & infrastructure services we provide a full suite of transport and infrastructure services over our global network , enabling cloud-based applications and the transport of high volume data between data centers , large enterprise office locations , and media hubs . our service is 20 differentiated based on an expansive pan-european fiber footprint and subsea cable infrastructure , network diversity , and low latency connections between major financial and commercial centers in north america and europe . our clients for these services include internet-based technology companies and otts , large banks , and other service providers requiring network infrastructure . all services are available on a protected basis with the ability to specify pre-configured alternate routes to minimize the impact of any network disruption . gtt 's wavelength service is designed to deliver scalable high-performance optical connectivity over a state-of-the-art dense wave division multiplexing platform . we offer low latency services between the major financial centers and exchanges , tailored to meet the requirements of proprietary trading firms for the fastest connections . in particular , gtt 's express transatlantic cable offers industry leading lowest latency between north america and europe . we also offer dark fiber and duct services across our fiber network . gtt 's ethernet service enables clients to design a network environment best suited to their needs , with point-to-point and point-to-multipoint topology options , and dynamic or fixed routing . gtt 's ethernet direct service provides enhanced performance capabilities for clients seeking guaranteed routes and latency slas between key financial markets , data centers and carrier hotels over a service-specific platform . this service is particularly suited for the financial industry , including trading firms that may require a lower-bandwidth alternative to wavelength services . financial organizations can also leverage our low-latency network to access over 60 unique routes and more than 130 financial exchanges . we offer colocation services in over 50 facilities in europe and north america . the turnkey service offering includes cabinets , racks , suites , and technical support services , providing clients with efficient and secure access to other carrier networks . we offer a suite of video transport services for clients in the media and entertainment industry , designed to support broadcast quality transmission of live events , sports entertainment , and news . we can manage individual services , multicast distribution , and entire client networks , supporting all video formats required for today 's media workflow . internet we offer clients scalable , high-bandwidth global internet connectivity and ip transit with guaranteed availability and packet delivery , utilizing our tier global 1 ip network . our internet services offer flexible connectivity with multiple port interfaces including fast ethernet , gigabit ethernet , 10 gigabit ethernet , and 100 gigabit ethernet . we also offer a wide range of broadband internet and wireless internet access services . we support a dual stack of ipv4 and ipv6 protocols , enabling the delivery of seamless ipv6 services alongside existing ipv4 services . managed services we offer fully managed network services , including managed equipment , security , and managed hosting . gtt 's managed equipment provides a turnkey solution for the end-to-end management of customer premise equipment . this includes the design , procurement , implementation , monitoring , and maintenance of equipment including routers , switches , servers , and wi-fi access points . gtt 's managed security is available as a cloud-based or premises-based security service and provides a comprehensive , multi-layered security solution that protects the network while meeting the most stringent security standards . our unified threat management services include advanced firewall , intrusion detection , anti-virus , web filtering , and anti-spam . gtt 's ddos mitigation service detects and removes malicious traffic , ensuring business continuity for our clients , even in the event of a large-scale ddos attack . the service utilizes a next-generation ddos platform technology , which provides immediate threat detection , deep packet inspection analytics and filtering of compromised traffic at gtt 's scrubbing centers . we offer a full range of compliancy packages , which include developing , deploying , configuring , and monitoring network and security assets , and providing documentation to comply with audits . gtt 's managed hosting service includes application hosting and management . voice we offer local voice service in over 60 countries around the world , along with global long-distance and toll-free services . our sip trunking service delivers worldwide pstn access to client telephony equipment over an integrated data connection , driving efficiency and productivity organization-wide while allowing clients to retain control of their core voice infrastructure . our hosted pbx service allows clients to eliminate traditional voice infrastructure with communication services delivered through the cloud 21 and a wide array of features and customization choices for each site and user . story_separator_special_tag on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2017 , revenue would have been lower by $ 24.1 million for the year ended december 31 , 2018 . cost of telecommunications services cost of telecommunications services increased by $ 387.3 million , or 89.6 % , from $ 432.1 million for the year ended december 31 , 2017 to $ 819.4 million for the year ended december 31 , 2018 . recurring cost of telecommunications services was approximately 94 % and 95 % of total cost of telecommunications services for the year ended december 31 , 2018 and 2017 , respectively . consistent 27 with our increase in revenue , the increase in cost of telecommunications services was principally driven by the 2017 acquisitions and 2018 acquisitions . on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2017 , cost of telecommunications services would have been lower by $ 12.2 million for the year ended december 31 , 2018 . operating expenses selling , general and administrative expenses . selling , general and administrative expenses increased by $ 167.8 million , or 77.9 % , from $ 215.4 million for the year ended december 31 , 2017 to $ 383.2 million for the year ended december 31 , 2018 . the following table summarizes the major categories of selling , general and administrative expenses for the years ended december 31 , 2018 and 2017 ( amounts in millions ) : replace_table_token_8_th ( 1 ) includes bad debt expense , professional fees , marketing costs , facilities , and other general support costs . employee related compensation increased primarily due to the 2017 acquisitions and 2018 acquisitions . share-based compensation expense increases were driven by the recognition of share-based compensation for performance awards and an increase in the aggregate value of employee equity awards due to an overall increase in employees and an increase in fair value of the awards . transaction and integration expense increases were driven by the 2018 acquisitions . other sg & a expense increases were principally driven by the 2017 acquisitions and 2018 acquisitions . on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2017 , selling , general and administrative expenses would have been lower by $ 5.7 million for the year ended december 31 , 2018 . severance , restructuring and other exit costs . for the year ended december 31 , 2018 , we incurred severance , restructuring and other exit costs of $ 37.1 million relating to the 2018 acquisitions . we incurred severance , restructuring and other exit costs of $ 22.4 million for the year ended december 31 , 2017 relating to the 2017 acquisitions . depreciation and amortization . amortization of intangible assets increased $ 17.4 million or 25.2 % , from $ 69.0 million for the year ended december 31 , 2017 to $ 86.4 million for the year ended december 31 , 2018 , primarily due to the additional definite-lived intangible assets recorded in connection with the 2017 acquisitions and 2018 acquisitions . depreciation expense increased $ 61.4 million , or 96.5 % from $ 63.6 million to $ 125.0 million for the year ended december 31 , 2018 , primarily due to assets acquired from the interoute acquisition . other expense other expense increased by $ 209.0 million , or 262.6 % from $ 79.6 million for the year ended december 31 , 2017 to $ 288.6 million for the year ended december 31 , 2018 . this is primarily attributed to higher interest expense due to higher debt levels driven by the 2017 acquisitions and 2018 acquisitions , loss on derivative financial instruments of $ 128.6 million primarily related to the cost of the currency hedge for the interoute acquisition of $ 105.8 million , loss due to changes in fair value on the interest rate swaps of $ 22.4 million , and a loss on debt extinguishment of $ 13.8 million . benefit from ( provision for ) income taxes our benefit from income taxes for the year ended december 31 , 2018 was $ 5.5 million . our effective tax rate was lower than the u.s. federal statutory rate of 21 % primarily due to a valuation allowance recorded against u.s. and certain foreign net deferred tax assets which also offset the impacts of tax expense associated with uncertain tax positions and the tax benefit from finalizing the 2017 impacts of the tax act . the provision for income taxes for the year ended december 31 , 2017 was $ 17.3 million . our effective tax rate for the year ended december 31 , 2017 differed from the u.s. federal statutory rate of 35 % due to the recording of a $ 29.0 million valuation 28 allowance against u.s. deferred tax assets and the one-time adjustments related to the tax act for which we recorded a provisional estimate of $ 17.3 million . year ended december 31 , 2017 compared to year ended december 31 , 2016 revenue our revenue increased by $ 300.6 million , or 57.0 % , from $ 527.3 million for the year ended december 31 , 2016 to $ 827.9 million for the year ended december 31 , 2017 . recurring revenue was approximately 94 % and 92 % of total revenue for the year ended december 31 , 2017 and 2016 , respectively . the increase in revenue was primarily due to the 2017 acquisitions and the purchase of certain customer contracts . on a constant currency basis using the average exchange rates in effect during the year ended december 31 , 2016 , revenue would have been higher by $ 3.5 million for the year ended december 31 , 2017 . cost of telecommunications services cost of telecommunications services increased by $ 152.5 million ,

