in fiscal 2015 , we launched a five-year transformational strategy designed to improve the performance of our business segments and strengthen our shared service capabilities . this strategy has driven our decisions on where we will operate and how we will achieve our goals in markets around the world . the 25 overall design of our business and organizational plan is intended to create sustainable and profitable growth and improve organizational capability . fiscal 2019 marked the completion of phase i of our multi-year transformation strategy , which delivered performance across a wide range of measures . we improved core sales growth by focusing on our leadership brands , made strategic acquisitions , became a more efficient operating company with strong global shared services , upgraded our organization and culture , improved inventory turns and return on invested capital , and returned capital to shareholders . fiscal 2020 begins phase ii of our transformation and is designed to drive the next five years of progress . the long-term objectives of phase ii include improved organic sales growth , continued margin expansion , and strategic and effective capital deployment . we expect phase ii will include continued investment in our leadership brands , with a focus on growing them through consumer-centric innovation , expanding them more aggressively outside the united states , and adding new brands through acquisition . we anticipate building further shared service capability and operating efficiency , as well as attracting , retaining , unifying and training the best people . in fiscal 2018 , we announced a restructuring plan ( referred to as “ project refuel ” ) intended to enhance the performance primarily in the beauty and former nutritional supplements segments . project refuel includes charges for a reduction-in-force and the elimination of certain contracts . during the first quarter of fiscal 2019 , we expanded project refuel to include the realignment and streamlining of our supply chain structure . we are targeting total annualized profit improvements of approximately $ 8.0 million to $ 10.0 million over the duration of the plan . we estimate the plan to be completed during fiscal 2020 and expect to incur total restructuring charges of approximately $ 7.0 million . restructuring provisions are determined based on estimates prepared at the time the restructuring actions are approved by management and are revised periodically . see note 12 to the accompanying consolidated financial statements for additional information . significant trends impacting the business potential impact of tariffs during fiscal 2019 , the office of the u.s. trade representative ( ‘ ‘ ustr `` ) imposed additional tariffs on products imported from china . we purchase a high concentration of our products from unaffiliated manufacturers located in china . this concentration exposes us to risks associated with doing business globally , including changes in tariffs . the tariff increases that have been implemented by the ustr began to impact our cost of goods sold in the third quarter of fiscal 2019. in total , the net unmitigated tariff impact that unfavorably impacted cost of sales during fiscal 2019 was approximately $ 4.0 million . our implemented pricing actions became partially effective during the fourth quarter of fiscal 2019 and will continue into the first quarter of fiscal 2020. this is due to the negotiation and notice periods involved in taking pricing actions with our retail customers . although our pricing actions are intended to offset the full gross profit impact of tariff increases , there are no assurances that the pricing action will not reduce retail consumption or customer orders in the short-term . potential impact of brexit the potential exit of the united kingdom ( the `` u.k. `` ) from european union ( `` e.u . `` ) membership ( commonly referred to as `` brexit `` ) could cause disruptions to and create uncertainty surrounding our business , including affecting our relationships with our existing and future customers , suppliers and employees , which could have an adverse effect on our business , financial results and operations . negotiations are ongoing to determine the future terms of the u.k. 's relationship with the e.u . , including the terms of trade between the u.k. and the e.u . the effects of brexit will depend on any agreements the u.k. makes to retain access to e.u . markets either during a transitional period or more permanently . these measures could potentially disrupt the markets we serve and the tax jurisdictions in which we 26 operate , adversely change tax benefits or liabilities in these or other jurisdictions , and cause us to lose customers , suppliers , and employees . in addition , brexit could lead to legal uncertainty and potentially divergent national laws and regulations as the u.k. determines which e.u . laws to replace or replicate . foreign currency exchange rate fluctuations due to the nature of our operations , we have exposure to the impact of fluctuations in exchange rates from transactions that are denominated in a currency other than our reporting currency ( the u.s. dollar ) . the most significant currencies affecting our operating results are the british pound , euro , canadian dollar , and mexican peso . for fiscal 2019 , changes in foreign currency exchange rates had an unfavorable impact on consolidated u.s. dollar reported net sales revenue of approximately $ 1.2 million , or 0.1 % . for fiscal 2018 , changes in foreign currency exchange rates had a favorable impact on consolidated u.s. dollar reported net sales revenue of approximately $ 5.2 million , or 0.4 % . consumer spending and changes in shopping preferences our business depends upon discretionary consumer demand for most of our products and primarily operates within mature and highly developed consumer markets . the principal driver of our operating performance is the strength of the u.s. retail economy . story_separator_special_tag 33 selling general and administrative expense comparison of fiscal 2019 to 2018 consolidated sg & a ratio decreased 0.7 percentage points to 28.0 % in fiscal 2019 , compared to 28.7 % in fiscal 2018. the decrease in the consolidated sg & a ratio was primarily due to : lower amortization expense ; the favorable impact from foreign currency exchange and forward contract settlements the favorable comparative impact of a $ 3.6 million charge related to the bankruptcy of tru in the same period last year ; the favorable impact of a higher mix of shipments made on a direct import basis ; and the impact that higher overall net sales had on operating leverage . these factors were partially offset by : higher advertising expense ; higher share-based compensation expense ; and higher freight expense . comparison of fiscal 2018 to 2017 consolidated sg & a ratio remained flat at 28.7 % in fiscal 2018 and 2017. fiscal 2018 included a $ 3.6 million charge related to the bankruptcy of tru , higher overall marketing , advertising and new product development expense in support of our leadership brands and an unfavorable impact from foreign currency exchange and forward contract settlements . these factors were offset by the favorable comparison from a $ 1.5 million patent litigation charge in fiscal 2017 , improved distribution and logistics efficiency and lower outbound freight expense , and the favorable impact that higher overall sales had on operating leverage . asset impairment charges fiscal 2019 we did not record any asset impairment charges in fiscal 2019. fiscal 2018 as a result of our interim and annual testing of indefinite-lived trademarks , we recorded non-cash asset impairment charges of $ 15.4 million ( $ 13.8 million after tax ) in continuing operations . the charges were related to certain trademarks in our beauty segment . fiscal 2017 as a result of our testing of indefinite-lived trademarks , we recorded non-cash asset impairment charges of $ 2.9 million ( $ 2.5 million after tax ) in continuing operations . these charges were related to certain trademarks in our beauty segment . restructuring charges fiscal 2019 we incurred $ 3.6 million of pre-tax restructuring costs related to employee severance and termination benefits under project refuel . during fiscal 2019 , we made total cash restructuring payments of $ 3.1 million and had a remaining liability of $ 1.2 million as of february 28 , 2019. fiscal 2018 we incurred $ 1.9 million of pre-tax restructuring costs related to employee severance and termination benefits and contract termination costs under project refuel . during fiscal 2018 , we made cash restructuring payments of $ 1.3 million and had a remaining liability of $ 0.5 million as of february 28 , 2018 . 34 fiscal 2017 we did not record any restructuring charges in fiscal 2017 . 35 operating income , operating margin , adjusted operating income ( non-gaap ) , and adjusted operating margin ( non-gaap ) by segment in order to provide a better understanding of the impact of certain items on our operating income , the below tables report the comparative after tax impact of non‐cash asset impairment charges , restructuring charges , patent litigation charges , the tru bankruptcy charge , amortization of intangible assets , and non‐cash share‐based compensation , as applicable , on operating income and operating margin for each segment and in total for the periods covered below . adjusted operating income and adjusted operating margin may be considered non-gaap financial measures as contemplated by sec regulation g , rule 100. for additional information regarding management 's decision to present this non-gaap financial information , see the introduction to this item 7. , “ management 's discussion and analysis of financial condition and results of operation . ” replace_table_token_11_th replace_table_token_12_th replace_table_token_13_th ( 1 ) fiscal 2017 includes eleven and one-half months of incremental operating results for hydro flask , acquired on march 18 , 2016. fiscal 2018 includes a full year of operating results for hydro flask . 36 consolidated operating income comparison of fiscal 2019 to 2018 consolidated operating income was $ 199.4 million , or 12.7 % of net sales , in fiscal 2019 , compared to consolidated operating income of $ 169.1 million , or 11.4 % of net sales , in fiscal 2018. fiscal 2019 includes pre-tax restructuring charges of $ 3.6 million associated with project refuel . fiscal 2018 included pre-tax non-cash asset impairment charges of $ 15.4 million , a $ 3.6 million charge related to the tru bankruptcy and pre-tax restructuring charges of $ 1.9 million . the effect of these items in both years favorably impacted the year-over-year comparison of operating margin by a combined 1.1 percentage points . the remaining improvement in fiscal 2019 consolidated operating margin was driven by : a higher mix of leadership brand sales at a higher operating margin ; lower amortization expense ; and the favorable impact of increased operating leverage from net sales growth . these factors were partially offset by : a less favorable channel and product mix ; higher advertising expense ; the impact of tariff increases ; and higher share-based compensation expense . consolidated adjusted operating income increased 6.9 % , or $ 15.4 million , to $ 239.2 million in fiscal 2019 compared to $ 223.9 million in fiscal 2018 . consolidated adjusted operating margin increased 0.2 percentage points to 15.3 % of consolidated net sales revenue in fiscal 2019 , compared to 15.1 % in fiscal 2018 . comparison of fiscal 2018 to 2017 consolidated operating income was $ 169.1 million in fiscal 2018 compared to $ 169.7 million in fiscal 2017 . consolidated operating margin was 11.4 % in fiscal 2018 compared to 12.1 % in fiscal 2017 . fiscal 2018 included pre-tax non-cash asset impairment charges totaling $ 15.4 million , a $ 3.6 million charge related to the tru bankruptcy and pre-tax restructuring charges of $ 1.9 million associated with

total current and long term debt ( 2 ) ÷ ebitda ( 1 ) + pro forma effect of acquisitions maximum currently allowed : 3.50 to 1.00 ( 3 ) key definitions : ebit : earnings before non-cash charges , interest expense and taxes ebitda : ebit + depreciation and amortization expense + share-based compensation pro forma effect of acquisitions : for any acquisition , pre-acquisition ebitda of the acquired business is included so that the ebitda of the acquired business included in the computation equals its twelve month trailing total . notes : ( 1 ) computed using totals for the latest reported four consecutive fiscal quarters . ( 2 ) computed using the ending balances as of the latest reported fiscal quarter . ( 3 ) in the event a qualified acquisition is consumated , the maximum leverage ratio is 4.25 to 1.00. contractual obligations our contractual obligations and commercial commitments in effect as of the end of fiscal 2019 were : replace_table_token_18_th ( 1 ) we estimate our future obligations for interest on our floating rate debt by assuming the weighted average interest rates in effect on each floating rate debt obligation at february 28 , 2019 remain constant into the future . this is an estimate , as actual rates will vary over time . in addition , for the credit agreement , we assume that the balance outstanding as of february 28 , 2019 remains the same for the remaining term of the agreement . the actual balance outstanding under the credit agreement may fluctuate significantly in future periods , depending on the availability of cash flow from operations and future investing and financing considerations . ( 2 ) in addition to the contractual obligations and commercial commitments in the table above , as of february 28 , 2019 , we have recorded a provision for uncertain tax positions of $ 3.2 million . we are unable to reliably estimate the timing of most of the future payments , if any , related to uncertain tax positions ; therefore , we have excluded these tax liabilities from the table above .


 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.
     ```total current and long term debt ( 2 ) ÷ ebitda ( 1 ) + pro forma effect of acquisitions maximum currently allowed : 3.50 to 1.00 ( 3 ) key definitions : ebit : earnings before non-cash charges , interest expense and taxes ebitda : ebit + depreciation and amortization expense + share-based compensation pro forma effect of acquisitions : for any acquisition , pre-acquisition ebitda of the acquired business is included so that the ebitda of the acquired business included in the computation equals its twelve month trailing total . notes : ( 1 ) computed using totals for the latest reported four consecutive fiscal quarters . ( 2 ) computed using the ending balances as of the latest reported fiscal quarter . ( 3 ) in the event a qualified acquisition is consumated , the maximum leverage ratio is 4.25 to 1.00. contractual obligations our contractual obligations and commercial commitments in effect as of the end of fiscal 2019 were : replace_table_token_18_th ( 1 ) we estimate our future obligations for interest on our floating rate debt by assuming the weighted average interest rates in effect on each floating rate debt obligation at february 28 , 2019 remain constant into the future . this is an estimate , as actual rates will vary over time . in addition , for the credit agreement , we assume that the balance outstanding as of february 28 , 2019 remains the same for the remaining term of the agreement . the actual balance outstanding under the credit agreement may fluctuate significantly in future periods , depending on the availability of cash flow from operations and future investing and financing considerations . ( 2 ) in addition to the contractual obligations and commercial commitments in the table above , as of february 28 , 2019 , we have recorded a provision for uncertain tax positions of $ 3.2 million . we are unable to reliably estimate the timing of most of the future payments , if any , related to uncertain tax positions ; therefore , we have excluded these tax liabilities from the table above .
```    
 Suspicious Activity Report : in fiscal 2015 , we launched a five-year transformational strategy designed to improve the performance of our business segments and strengthen our shared service capabilities . this strategy has driven our decisions on where we will operate and how we will achieve our goals in markets around the world . the 25 overall design of our business and organizational plan is intended to create sustainable and profitable growth and improve organizational capability . fiscal 2019 marked the completion of phase i of our multi-year transformation strategy , which delivered performance across a wide range of measures . we improved core sales growth by focusing on our leadership brands , made strategic acquisitions , became a more efficient operating company with strong global shared services , upgraded our organization and culture , improved inventory turns and return on invested capital , and returned capital to shareholders . fiscal 2020 begins phase ii of our transformation and is designed to drive the next five years of progress . the long-term objectives of phase ii include improved organic sales growth , continued margin expansion , and strategic and effective capital deployment . we expect phase ii will include continued investment in our leadership brands , with a focus on growing them through consumer-centric innovation , expanding them more aggressively outside the united states , and adding new brands through acquisition . we anticipate building further shared service capability and operating efficiency , as well as attracting , retaining , unifying and training the best people . in fiscal 2018 , we announced a restructuring plan ( referred to as “ project refuel ” ) intended to enhance the performance primarily in the beauty and former nutritional supplements segments . project refuel includes charges for a reduction-in-force and the elimination of certain contracts . during the first quarter of fiscal 2019 , we expanded project refuel to include the realignment and streamlining of our supply chain structure . we are targeting total annualized profit improvements of approximately $ 8.0 million to $ 10.0 million over the duration of the plan . we estimate the plan to be completed during fiscal 2020 and expect to incur total restructuring charges of approximately $ 7.0 million . restructuring provisions are determined based on estimates prepared at the time the restructuring actions are approved by management and are revised periodically . see note 12 to the accompanying consolidated financial statements for additional information . significant trends impacting the business potential impact of tariffs during fiscal 2019 , the office of the u.s. trade representative ( ‘ ‘ ustr `` ) imposed additional tariffs on products imported from china . we purchase a high concentration of our products from unaffiliated manufacturers located in china . this concentration exposes us to risks associated with doing business globally , including changes in tariffs . the tariff increases that have been implemented by the ustr began to impact our cost of goods sold in the third quarter of fiscal 2019. in total , the net unmitigated tariff impact that unfavorably impacted cost of sales during fiscal 2019 was approximately $ 4.0 million . our implemented pricing actions became partially effective during the fourth quarter of fiscal 2019 and will continue into the first quarter of fiscal 2020. this is due to the negotiation and notice periods involved in taking pricing actions with our retail customers . although our pricing actions are intended to offset the full gross profit impact of tariff increases , there are no assurances that the pricing action will not reduce retail consumption or customer orders in the short-term . potential impact of brexit the potential exit of the united kingdom ( the `` u.k. `` ) from european union ( `` e.u . `` ) membership ( commonly referred to as `` brexit `` ) could cause disruptions to and create uncertainty surrounding our business , including affecting our relationships with our existing and future customers , suppliers and employees , which could have an adverse effect on our business , financial results and operations . negotiations are ongoing to determine the future terms of the u.k. 's relationship with the e.u . , including the terms of trade between the u.k. and the e.u . the effects of brexit will depend on any agreements the u.k. makes to retain access to e.u . markets either during a transitional period or more permanently . these measures could potentially disrupt the markets we serve and the tax jurisdictions in which we 26 operate , adversely change tax benefits or liabilities in these or other jurisdictions , and cause us to lose customers , suppliers , and employees . in addition , brexit could lead to legal uncertainty and potentially divergent national laws and regulations as the u.k. determines which e.u . laws to replace or replicate . foreign currency exchange rate fluctuations due to the nature of our operations , we have exposure to the impact of fluctuations in exchange rates from transactions that are denominated in a currency other than our reporting currency ( the u.s. dollar ) . the most significant currencies affecting our operating results are the british pound , euro , canadian dollar , and mexican peso . for fiscal 2019 , changes in foreign currency exchange rates had an unfavorable impact on consolidated u.s. dollar reported net sales revenue of approximately $ 1.2 million , or 0.1 % . for fiscal 2018 , changes in foreign currency exchange rates had a favorable impact on consolidated u.s. dollar reported net sales revenue of approximately $ 5.2 million , or 0.4 % . consumer spending and changes in shopping preferences our business depends upon discretionary consumer demand for most of our products and primarily operates within mature and highly developed consumer markets . the principal driver of our operating performance is the strength of the u.s. retail economy . story_separator_special_tag 33 selling general and administrative expense comparison of fiscal 2019 to 2018 consolidated sg & a ratio decreased 0.7 percentage points to 28.0 % in fiscal 2019 , compared to 28.7 % in fiscal 2018. the decrease in the consolidated sg & a ratio was primarily due to : lower amortization expense ; the favorable impact from foreign currency exchange and forward contract settlements the favorable comparative impact of a $ 3.6 million charge related to the bankruptcy of tru in the same period last year ; the favorable impact of a higher mix of shipments made on a direct import basis ; and the impact that higher overall net sales had on operating leverage . these factors were partially offset by : higher advertising expense ; higher share-based compensation expense ; and higher freight expense . comparison of fiscal 2018 to 2017 consolidated sg & a ratio remained flat at 28.7 % in fiscal 2018 and 2017. fiscal 2018 included a $ 3.6 million charge related to the bankruptcy of tru , higher overall marketing , advertising and new product development expense in support of our leadership brands and an unfavorable impact from foreign currency exchange and forward contract settlements . these factors were offset by the favorable comparison from a $ 1.5 million patent litigation charge in fiscal 2017 , improved distribution and logistics efficiency and lower outbound freight expense , and the favorable impact that higher overall sales had on operating leverage . asset impairment charges fiscal 2019 we did not record any asset impairment charges in fiscal 2019. fiscal 2018 as a result of our interim and annual testing of indefinite-lived trademarks , we recorded non-cash asset impairment charges of $ 15.4 million ( $ 13.8 million after tax ) in continuing operations . the charges were related to certain trademarks in our beauty segment . fiscal 2017 as a result of our testing of indefinite-lived trademarks , we recorded non-cash asset impairment charges of $ 2.9 million ( $ 2.5 million after tax ) in continuing operations . these charges were related to certain trademarks in our beauty segment . restructuring charges fiscal 2019 we incurred $ 3.6 million of pre-tax restructuring costs related to employee severance and termination benefits under project refuel . during fiscal 2019 , we made total cash restructuring payments of $ 3.1 million and had a remaining liability of $ 1.2 million as of february 28 , 2019. fiscal 2018 we incurred $ 1.9 million of pre-tax restructuring costs related to employee severance and termination benefits and contract termination costs under project refuel . during fiscal 2018 , we made cash restructuring payments of $ 1.3 million and had a remaining liability of $ 0.5 million as of february 28 , 2018 . 34 fiscal 2017 we did not record any restructuring charges in fiscal 2017 . 35 operating income , operating margin , adjusted operating income ( non-gaap ) , and adjusted operating margin ( non-gaap ) by segment in order to provide a better understanding of the impact of certain items on our operating income , the below tables report the comparative after tax impact of non‐cash asset impairment charges , restructuring charges , patent litigation charges , the tru bankruptcy charge , amortization of intangible assets , and non‐cash share‐based compensation , as applicable , on operating income and operating margin for each segment and in total for the periods covered below . adjusted operating income and adjusted operating margin may be considered non-gaap financial measures as contemplated by sec regulation g , rule 100. for additional information regarding management 's decision to present this non-gaap financial information , see the introduction to this item 7. , “ management 's discussion and analysis of financial condition and results of operation . ” replace_table_token_11_th replace_table_token_12_th replace_table_token_13_th ( 1 ) fiscal 2017 includes eleven and one-half months of incremental operating results for hydro flask , acquired on march 18 , 2016. fiscal 2018 includes a full year of operating results for hydro flask . 36 consolidated operating income comparison of fiscal 2019 to 2018 consolidated operating income was $ 199.4 million , or 12.7 % of net sales , in fiscal 2019 , compared to consolidated operating income of $ 169.1 million , or 11.4 % of net sales , in fiscal 2018. fiscal 2019 includes pre-tax restructuring charges of $ 3.6 million associated with project refuel . fiscal 2018 included pre-tax non-cash asset impairment charges of $ 15.4 million , a $ 3.6 million charge related to the tru bankruptcy and pre-tax restructuring charges of $ 1.9 million . the effect of these items in both years favorably impacted the year-over-year comparison of operating margin by a combined 1.1 percentage points . the remaining improvement in fiscal 2019 consolidated operating margin was driven by : a higher mix of leadership brand sales at a higher operating margin ; lower amortization expense ; and the favorable impact of increased operating leverage from net sales growth . these factors were partially offset by : a less favorable channel and product mix ; higher advertising expense ; the impact of tariff increases ; and higher share-based compensation expense . consolidated adjusted operating income increased 6.9 % , or $ 15.4 million , to $ 239.2 million in fiscal 2019 compared to $ 223.9 million in fiscal 2018 . consolidated adjusted operating margin increased 0.2 percentage points to 15.3 % of consolidated net sales revenue in fiscal 2019 , compared to 15.1 % in fiscal 2018 . comparison of fiscal 2018 to 2017 consolidated operating income was $ 169.1 million in fiscal 2018 compared to $ 169.7 million in fiscal 2017 . consolidated operating margin was 11.4 % in fiscal 2018 compared to 12.1 % in fiscal 2017 . fiscal 2018 included pre-tax non-cash asset impairment charges totaling $ 15.4 million , a $ 3.6 million charge related to the tru bankruptcy and pre-tax restructuring charges of $ 1.9 million associated with

