costs incurred prior to , or in connection with , the business combination . these corporate costs are considered discrete costs in 2017. secured long-term financing that positions us well relative to other us modular space competitors to pursue organic and inorganic growth opportunities , such as the acquisition of acton mobile . 41 business environment and outlook our customers operate in a diversified set of end markets , including commercial and industrial , construction , education , energy and natural resources , government and other end-markets . we track several market leading indicators including those related to our two largest end markets , the commercial and industrial segment and the construction segment , which collectively accounted for nearly 80 % of our revenues in the year ended december 31 , 2017 . market fundamentals underlying these markets are currently favorable , and we expect continued modest market growth in the next several years . current events , such as tax reform , discussions of increased infrastructure spending , and rebuilding in areas impacted by natural disasters in 2017 across the united states also provide us confidence in continued demand for our products . although only 12.0 % of our revenues for the year ended december 31 , 2017 were from the modular - other north america segment , markets in canada , including alaska , and mexico , appear to have stabilized from the declines experienced over the last several years related to the energy markets . however , competitive pressures in these markets may continue to depress pricing given current levels of supply in the market until utilization across the industry improves . tax reform impact on business outlook on december 22 , 2017 , the us government enacted comprehensive tax legislation , commonly referred to as the tax cuts and jobs act ( “ tax act ” ) . the tax act makes broad and complex changes to the us tax code which impact our year ended december 31 , 2017 including , but not limited to , reducing the corporate tax rate from 35 % to 21 % , requiring a one-time transition tax ( the “ transition tax ” ) on certain unrepatriated earnings of foreign subsidiaries that may be electively paid over eight years , changes to the interest deductibility under 163 ( j ) and accelerating first year expensing of certain capital expenditures . the tax act also introduces new tax laws that may impact our taxable income beginning in 2018 which will include , but is not limited to , generally eliminating us federal income taxes on foreign earnings ( subject to certain important exceptions ) , a new provision designed to tax currently global intangible low taxed income ( “ gilti ” ) , a provision that could limit the amount of deductible interest expense , limitations on the deductibility of certain executive compensation , creating a base erosion anti-abuse tax ( “ beat ” ) , and modifying or repealing many deductions and credits . shortly after the tax act was enacted , the sec staff issued staff accounting bulletin no . 118 , income tax accounting implications of the tax cuts and jobs act ( “ sab 118 ” ) which provides guidance on accounting for the tax act 's impact . sab 118 provides a measurement period , which in no case should extend beyond one year from the tax act enactment date , during which a company acting in good faith may complete the accounting for the impacts of the tax act under accounting standards codification ( “ asc ” ) topic 740. per sab 118 , we must reflect the income tax effects of the tax act in the reporting period in which the accounting under asc topic 740 is complete . to the extent our accounting for certain income tax effects of the tax act is incomplete , we can determine a reasonable estimate for those effects and record a provisional estimate in the financial statements in the first reporting period in which a reasonable estimate can be determined . if we can not determine a provisional estimate to be included in the financial statements , we should continue to apply asc 740 based on the provisions of the tax laws that were in effect immediately prior to the tax act being enacted . if we are unable to provide a reasonable estimate of the impacts of the tax act in a reporting period , a provisional amount must be recorded in the first reporting period in which a reasonable estimate can be determined . our year end income tax provision includes $ 27.4 million of net additional income tax expense during the quarter ended december 31 , 2017 , driven by the reduction in the u.s. corporate tax rate , recordation of a valuation allowance on 163 ( j ) and the transition tax on foreign earnings . reduction in u.s. corporate tax rate the tax provision includes a tax benefit of $ 28.1 million for the remeasurement of certain deferred tax assets and liabilities to reflect the corporate tax rate reduction impact to our net deferred tax balances . transition tax on foreign earnings the transition tax is a tax on the previously untaxed accumulated and current earnings and profits of certain of our foreign subsidiaries . in order to determine the amount of the transition tax , we must determine , in addition to other factors , the amount of post-1986 earnings and profits ( “ e & p ” ) of the relevant subsidiaries , as well as the amount of non-us income taxes paid on such earnings . e & p is similar to retained earnings of the subsidiary , but requires other adjustments to conform to us tax rules . story_separator_special_tag other expense , net : other expense , net was $ 2.8 million for the year ended december 31 , 2017 and $ 1.8 million for the year ended december 31 , 2016 due to an increase in financing related costs . interest expense : interest expense increased $ 24.6 million , or 26.0 % , to $ 119.3 million for the year ended december 31 , 2017 from $ 94.7 million for the year ended december 31 , 2016 . upon consummation of the business combination in november of 2017 , we issued $ 300.0 million of notes and entered into a new $ 600.0 million abl facility to fund our operations as a stand-alone company . the majority of the interest costs incurred during the year ended december 31 , 2017 relate to the previous debt 47 structure of the company as part of the algeco group or to fees associated to establishing the new debt structure . the increase in interest expense is driven by the following items : ( a ) $ 7.5 million write-off of deferred issuance costs pertaining to the modification of the abl facility and the settlement of the notes due to affiliates , ( b ) a $ 5.6 million increase in interest expense on the algeco group revolver facility ( see note 11 ) as the first quarter amendment to the facility increased the base portion of the variable interest rate , ( c ) $ 3.8 million in bridge financing fees incurred in connection with the business combination , ( d ) a increase of $ 3.5 million in amortization of deferred issuance and discount costs driven by higher deferred issuance and discount costs in 2017 , ( e ) $ 2.1 million of interest expense incurred under the notes issued in november 2017 and , ( f ) $ 2.0 million of higher interest expense pertained to other financing obligations . see note 11 to the consolidated financial statements for further discussion of our debt . interest income : interest income increased $ 2.0 million , or 19.6 % , to $ 12.2 million for the year ended december 31 , 2017 from $ 10.2 million for the year ended december 31 , 2016 . this increase is primarily due to an increase in the principal balance of notes due from affiliates . income tax expense ( benefit ) : income tax benefit decreased $ 23.6 million to $ 0.9 million for the year ended december 31 , 2017 compared to $ 24.5 million for the year ended december 31 , 2016 . the decrease in income tax benefit was principally due to the impairment of canadian goodwill , as well as the impacts of the tax act enacted by the us government on december 22 , 2017 , which reduced the federal income tax rate from 35 % to 21 % effective january 1 , 2018 , and requires mandatory repatriation of foreign earnings . the canadian goodwill , which had no tax basis , was recorded as an unfavorable permanent adjustment which reduces the benefit expected based on the pre-tax loss . as a result of the tax act , we remeasured our net deferred tax liabilities and recognized a net tax benefit of $ 28.1 million . in addition , we recorded tax expense of $ 50.5 million related to valuation allowances related to limitations on the deductibility of high-interest debt as a result of the change in ownership and control related to the business combination . had it not been for these changes , income tax expense would have increased driven by the increase in loss from continuing operations for the year ended december 31 , 2017. comparison of years ended december 31 , 2016 and 2015 revenue : total revenue decreased $ 26.7 million , or 5.9 % , to $ 426.6 million for the year ended december 31 , 2016 from $ 453.3 million for the year ended december 31 , 2015 . the decrease was primarily the result of a 38.9 % decline in total revenue in the modular - other north america business segment , attributable to reduced demand from the upstream oil and gas sector offset by an increase in modular leasing revenue and modular delivery and installation revenue in the us . total average modular units and portable storage units on rent for 2016 and 2015 were 54,582 and 56,524 , respectively . the decrease was mainly due to declines in the modular - other north america business segment related to reduced demand from the upstream oil and gas sector due to lower customer spending on the construction and development of new projects due to current oil prices , and the completion of existing contracts and projects . the average modular utilization rate during 2016 was 70.9 % , as compared to 71.6 % during 2015. the decrease in average modular utilization rate was driven by declines in the modular - other north america business segment . gross profit : our gross profit percentage was 39.4 % and 35.9 % for the years ended december 31 , 2016 and 2015 , respectively . our gross profit percentage , excluding the effects of depreciation , was 55.6 % and 53.3 % for the years ended december 31 , 2016 and 2015 , respectively . gross profit increased $ 5.3 million , or 3.3 % , to $ 168.2 million for the year ended december 31 , 2016 from $ 162.9 million for the year ended december 31 , 2015 . the increase in gross profit and gross profit percentage was driven in part by a discrete transaction which contributed approximately $ 3.0 million to gross profit for the year ended december 31 , 2016 and also by an $ 9.5 million reduction in depreciation of rental equipment for the year ended december 31 , 2016. sg & a : sg & a expense decreased $ 0.3 million , or 0.2

cash flows from operating activities cash used by operating activities for the year ended december 31 , 2017 was $ 1.4 million as compared to cash provided by operating activities of $ 58.7 million for year ended december 31 , 2016 , a decrease of $ 60.1 million . the reduction in cash provided by operating activities was predominantly due to higher discrete expenses incurred in connection with the business combination , abl facility , and the notes , and lower gross profit on our continuing and discontinued business operations . cash provided by operating activities for the year ended december 31 , 2016 was $ 58.7 million as compared to $ 119.9 million for year ended december 31 , 2015 , a decrease of $ 61.2 million . the reduction in cash provided by operating activities was predominantly due to higher net loss , driven by lower revenue and gross profit associated with our continuing and discontinued business operations . additionally , we had negative working capital impacts to accounts payable as a result of rental equipment investments that were made in 2015 and subsequently paid in 2016. cash flows from investing activities cash used in investing activities for the year ended december 31 , 2017 was $ 392.7 million as compared to $ 30.2 million for the year ended december 31 , 2016 , an increase of$ 362.5 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 flows from operating activities cash used by operating activities for the year ended december 31 , 2017 was $ 1.4 million as compared to cash provided by operating activities of $ 58.7 million for year ended december 31 , 2016 , a decrease of $ 60.1 million . the reduction in cash provided by operating activities was predominantly due to higher discrete expenses incurred in connection with the business combination , abl facility , and the notes , and lower gross profit on our continuing and discontinued business operations . cash provided by operating activities for the year ended december 31 , 2016 was $ 58.7 million as compared to $ 119.9 million for year ended december 31 , 2015 , a decrease of $ 61.2 million . the reduction in cash provided by operating activities was predominantly due to higher net loss , driven by lower revenue and gross profit associated with our continuing and discontinued business operations . additionally , we had negative working capital impacts to accounts payable as a result of rental equipment investments that were made in 2015 and subsequently paid in 2016. cash flows from investing activities cash used in investing activities for the year ended december 31 , 2017 was $ 392.7 million as compared to $ 30.2 million for the year ended december 31 , 2016 , an increase of$ 362.5 million .
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 Suspicious Activity Report : costs incurred prior to , or in connection with , the business combination . these corporate costs are considered discrete costs in 2017. secured long-term financing that positions us well relative to other us modular space competitors to pursue organic and inorganic growth opportunities , such as the acquisition of acton mobile . 41 business environment and outlook our customers operate in a diversified set of end markets , including commercial and industrial , construction , education , energy and natural resources , government and other end-markets . we track several market leading indicators including those related to our two largest end markets , the commercial and industrial segment and the construction segment , which collectively accounted for nearly 80 % of our revenues in the year ended december 31 , 2017 . market fundamentals underlying these markets are currently favorable , and we expect continued modest market growth in the next several years . current events , such as tax reform , discussions of increased infrastructure spending , and rebuilding in areas impacted by natural disasters in 2017 across the united states also provide us confidence in continued demand for our products . although only 12.0 % of our revenues for the year ended december 31 , 2017 were from the modular - other north america segment , markets in canada , including alaska , and mexico , appear to have stabilized from the declines experienced over the last several years related to the energy markets . however , competitive pressures in these markets may continue to depress pricing given current levels of supply in the market until utilization across the industry improves . tax reform impact on business outlook on december 22 , 2017 , the us government enacted comprehensive tax legislation , commonly referred to as the tax cuts and jobs act ( “ tax act ” ) . the tax act makes broad and complex changes to the us tax code which impact our year ended december 31 , 2017 including , but not limited to , reducing the corporate tax rate from 35 % to 21 % , requiring a one-time transition tax ( the “ transition tax ” ) on certain unrepatriated earnings of foreign subsidiaries that may be electively paid over eight years , changes to the interest deductibility under 163 ( j ) and accelerating first year expensing of certain capital expenditures . the tax act also introduces new tax laws that may impact our taxable income beginning in 2018 which will include , but is not limited to , generally eliminating us federal income taxes on foreign earnings ( subject to certain important exceptions ) , a new provision designed to tax currently global intangible low taxed income ( “ gilti ” ) , a provision that could limit the amount of deductible interest expense , limitations on the deductibility of certain executive compensation , creating a base erosion anti-abuse tax ( “ beat ” ) , and modifying or repealing many deductions and credits . shortly after the tax act was enacted , the sec staff issued staff accounting bulletin no . 118 , income tax accounting implications of the tax cuts and jobs act ( “ sab 118 ” ) which provides guidance on accounting for the tax act 's impact . sab 118 provides a measurement period , which in no case should extend beyond one year from the tax act enactment date , during which a company acting in good faith may complete the accounting for the impacts of the tax act under accounting standards codification ( “ asc ” ) topic 740. per sab 118 , we must reflect the income tax effects of the tax act in the reporting period in which the accounting under asc topic 740 is complete . to the extent our accounting for certain income tax effects of the tax act is incomplete , we can determine a reasonable estimate for those effects and record a provisional estimate in the financial statements in the first reporting period in which a reasonable estimate can be determined . if we can not determine a provisional estimate to be included in the financial statements , we should continue to apply asc 740 based on the provisions of the tax laws that were in effect immediately prior to the tax act being enacted . if we are unable to provide a reasonable estimate of the impacts of the tax act in a reporting period , a provisional amount must be recorded in the first reporting period in which a reasonable estimate can be determined . our year end income tax provision includes $ 27.4 million of net additional income tax expense during the quarter ended december 31 , 2017 , driven by the reduction in the u.s. corporate tax rate , recordation of a valuation allowance on 163 ( j ) and the transition tax on foreign earnings . reduction in u.s. corporate tax rate the tax provision includes a tax benefit of $ 28.1 million for the remeasurement of certain deferred tax assets and liabilities to reflect the corporate tax rate reduction impact to our net deferred tax balances . transition tax on foreign earnings the transition tax is a tax on the previously untaxed accumulated and current earnings and profits of certain of our foreign subsidiaries . in order to determine the amount of the transition tax , we must determine , in addition to other factors , the amount of post-1986 earnings and profits ( “ e & p ” ) of the relevant subsidiaries , as well as the amount of non-us income taxes paid on such earnings . e & p is similar to retained earnings of the subsidiary , but requires other adjustments to conform to us tax rules . story_separator_special_tag other expense , net : other expense , net was $ 2.8 million for the year ended december 31 , 2017 and $ 1.8 million for the year ended december 31 , 2016 due to an increase in financing related costs . interest expense : interest expense increased $ 24.6 million , or 26.0 % , to $ 119.3 million for the year ended december 31 , 2017 from $ 94.7 million for the year ended december 31 , 2016 . upon consummation of the business combination in november of 2017 , we issued $ 300.0 million of notes and entered into a new $ 600.0 million abl facility to fund our operations as a stand-alone company . the majority of the interest costs incurred during the year ended december 31 , 2017 relate to the previous debt 47 structure of the company as part of the algeco group or to fees associated to establishing the new debt structure . the increase in interest expense is driven by the following items : ( a ) $ 7.5 million write-off of deferred issuance costs pertaining to the modification of the abl facility and the settlement of the notes due to affiliates , ( b ) a $ 5.6 million increase in interest expense on the algeco group revolver facility ( see note 11 ) as the first quarter amendment to the facility increased the base portion of the variable interest rate , ( c ) $ 3.8 million in bridge financing fees incurred in connection with the business combination , ( d ) a increase of $ 3.5 million in amortization of deferred issuance and discount costs driven by higher deferred issuance and discount costs in 2017 , ( e ) $ 2.1 million of interest expense incurred under the notes issued in november 2017 and , ( f ) $ 2.0 million of higher interest expense pertained to other financing obligations . see note 11 to the consolidated financial statements for further discussion of our debt . interest income : interest income increased $ 2.0 million , or 19.6 % , to $ 12.2 million for the year ended december 31 , 2017 from $ 10.2 million for the year ended december 31 , 2016 . this increase is primarily due to an increase in the principal balance of notes due from affiliates . income tax expense ( benefit ) : income tax benefit decreased $ 23.6 million to $ 0.9 million for the year ended december 31 , 2017 compared to $ 24.5 million for the year ended december 31 , 2016 . the decrease in income tax benefit was principally due to the impairment of canadian goodwill , as well as the impacts of the tax act enacted by the us government on december 22 , 2017 , which reduced the federal income tax rate from 35 % to 21 % effective january 1 , 2018 , and requires mandatory repatriation of foreign earnings . the canadian goodwill , which had no tax basis , was recorded as an unfavorable permanent adjustment which reduces the benefit expected based on the pre-tax loss . as a result of the tax act , we remeasured our net deferred tax liabilities and recognized a net tax benefit of $ 28.1 million . in addition , we recorded tax expense of $ 50.5 million related to valuation allowances related to limitations on the deductibility of high-interest debt as a result of the change in ownership and control related to the business combination . had it not been for these changes , income tax expense would have increased driven by the increase in loss from continuing operations for the year ended december 31 , 2017. comparison of years ended december 31 , 2016 and 2015 revenue : total revenue decreased $ 26.7 million , or 5.9 % , to $ 426.6 million for the year ended december 31 , 2016 from $ 453.3 million for the year ended december 31 , 2015 . the decrease was primarily the result of a 38.9 % decline in total revenue in the modular - other north america business segment , attributable to reduced demand from the upstream oil and gas sector offset by an increase in modular leasing revenue and modular delivery and installation revenue in the us . total average modular units and portable storage units on rent for 2016 and 2015 were 54,582 and 56,524 , respectively . the decrease was mainly due to declines in the modular - other north america business segment related to reduced demand from the upstream oil and gas sector due to lower customer spending on the construction and development of new projects due to current oil prices , and the completion of existing contracts and projects . the average modular utilization rate during 2016 was 70.9 % , as compared to 71.6 % during 2015. the decrease in average modular utilization rate was driven by declines in the modular - other north america business segment . gross profit : our gross profit percentage was 39.4 % and 35.9 % for the years ended december 31 , 2016 and 2015 , respectively . our gross profit percentage , excluding the effects of depreciation , was 55.6 % and 53.3 % for the years ended december 31 , 2016 and 2015 , respectively . gross profit increased $ 5.3 million , or 3.3 % , to $ 168.2 million for the year ended december 31 , 2016 from $ 162.9 million for the year ended december 31 , 2015 . the increase in gross profit and gross profit percentage was driven in part by a discrete transaction which contributed approximately $ 3.0 million to gross profit for the year ended december 31 , 2016 and also by an $ 9.5 million reduction in depreciation of rental equipment for the year ended december 31 , 2016. sg & a : sg & a expense decreased $ 0.3 million , or 0.2

