the share of consumer spending captured by the food-away-from-home industry increased steadily for several decades and paused during the recession that began in 2008. following the recession , the share has again increased as a result of increasing employment , rising disposable income , increases in the number of restaurants , and favorable demographic trends , such as smaller household sizes , an increasing number of dual income households , and an aging population base that spends more per capita at foodservice establishments . the 27 foodservice distribution industry is also sensitive to national and regional economic conditions , such as changes in consumer spending , changes in consumer confidence , and changes in the p rices of certain goods . food distribution market structure . the food distribution market consists of a wide spectrum of companies ranging from businesses selling a single category of product ( e.g . , produce ) to large national and regional broadline distributors with many distribution centers and thousands of products across all categories . we believe our scale enables us to invest in our performance brands , to benefit from economies of scale in purchasing and procurement , and to drive supply chain efficiencies that enhance our customers ' satisfaction and profitability . we believe that the relative growth of larger foodservice distributors will continue to outpace that of smaller , independent players in our industry . our ability to successfully execute our segment strategies and implement our initiatives . our performance will continue to depend on our ability to successfully execute our segment strategies and to implement our current and future initiatives . the key strategies include focusing on independent sales and performance brands , pursuing new customers for all three of our reportable segments , expansion of geographies , utilizing our infrastructure to gain further operating and purchasing efficiencies , and making strategic acquisitions . how we assess the performance of our business in assessing the performance of our business , we consider a variety of performance and financial measures . the key measures used by our management are discussed below . the percentages on the results presented below are calculated based on rounded numbers . net sales net sales is equal to gross sales minus sales returns ; sales incentives that we offer to our customers , such as rebates and discounts that are offsets to gross sales ; and certain other adjustments . our net sales are driven by changes in case volumes , product inflation that is reflected in the pricing of our products , and mix of products sold . gross profit gross profit is equal to our net sales minus our cost of goods sold . cost of goods sold primarily includes inventory costs ( net of supplier consideration ) and inbound freight . cost of goods sold generally changes as we incur higher or lower costs from our suppliers and as our customer and product mix changes . ebitda and adjusted ebitda management measures operating performance based on our ebitda , defined as net income before interest expense , interest income , income taxes , and depreciation and amortization . ebitda is not defined under u.s. generally accepted accounting principles ( “ u.s . gaap ” ) and is not a measure of operating income , operating performance , or liquidity presented in accordance with u.s. gaap and is subject to important limitations . our definition of ebitda may not be the same as similarly titled measures used by other companies . we believe that the presentation of ebitda enhances an investor 's understanding of our performance . we use this measure to evaluate the performance of our segments and for business planning purposes . we present ebitda in order to provide supplemental information that we consider relevant for the readers of our consolidated financial statements included elsewhere in this report , and such information is not meant to replace or supersede u.s. gaap measures . in addition , our management uses adjusted ebitda , defined as net income before interest expense , interest income , income and franchise taxes , and depreciation and amortization , further adjusted to exclude certain items that we do not consider part of our core operating results . such adjustments include certain unusual , non-cash , non-recurring , cost reduction , and other adjustment items permitted in calculating covenant compliance under our credit agreement and indenture ( other than certain pro forma adjustments permitted under our credit agreement and indenture relating to the adjusted ebitda contribution of acquired entities or businesses prior to the acquisition date ) . under our credit agreement and indenture , our ability to engage in certain activities such as incurring certain additional indebtedness , making certain investments , and making restricted payments is tied to ratios based on adjusted ebitda ( as defined in the credit agreement and indenture ) . our definition of adjusted ebitda may not be the same as similarly titled measures used by other companies . 28 adjusted ebitda is not defined under u.s. gaap and is subject to important limitations . we believe that the presentation of adjusted ebitda is useful to investors because it is frequently used by securities analysts , investors , and other interested parties , including our lenders under the abl facility and holders of our notes ( as defined below under “ —liquidity and capital resources ” ) , in their evaluation of the operating performance of companies in industries similar to ours . in addition , targets based on adjusted ebitda are among the measures we use to evaluate our management 's performance for purposes of determining their compensation under our incentive plans . ebitda and adjusted ebitda have important limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of our results as reported under u.s. gaap . story_separator_special_tag fiscal year ended july 1 , 2017 compared to fiscal year ended july 2 , 2016 net sales net sales for performance foodservice increased $ 206.1 million , or 2.1 % , from fiscal 2016 to fiscal 2017. this increase in net sales was attributable to growth in cases sold , partially offset by the 53 rd week in fiscal 2016. net sales for the extra week in fiscal 2016 were approximately $ 188.0 million . case growth in fiscal 2017 was driven by securing new independent customers and further penetrating existing customers . securing new and expanded business with independent customers resulted in independent sales growth of approximately 4.6 % in fiscal 2017 compared to fiscal 2016. for fiscal 2017 , independent sales as a percentage of total segment sales were 44.4 % . ebitda ebitda for performance foodservice increased $ 16.8 million , or 5.5 % , from fiscal 2016 to fiscal 2017. this increase was the result of an increase in gross profit , partially offset by an increase in operating expenses , excluding depreciation and amortization . gross profit increased by 4.4 % in fiscal 2017 , compared to the prior fiscal year , as a result of an increase in cases sold , as well as an increase in the gross profit per case , partially offset by gross profit of approximately $ 28.3 million in the extra week in fiscal 2016. the increase in gross profit per case was driven by a favorable shift in the mix of cases sold toward independent customers and performance brands , as well as by an increase in procurement gains . independent business has higher gross margins than chain customers within this segment . operating expenses , excluding depreciation and amortization , for performance foodservice increased by $ 45.3 million , or 4.1 % , from fiscal 2016 to fiscal 2017. operating expenses increased as a result of an increase in case volume and the resulting impact on variable operational and selling expenses , as well as cost of living and other increases in compensation and benefits and increase in costs associated with insurance expense primarily related to workers ' compensation and vehicle liability of $ 5.9 million . these increases were partially offset by the extra week in fiscal 2016. the company estimates that operating expenses excluding depreciation and amortization were approximately $ 21.2 million in the 53 rd week of fiscal 2016. depreciation of fixed assets and amortization of intangible assets recorded in this segment decreased from $ 63.2 million in fiscal 2016 to $ 57.4 million in fiscal 2017 , a decrease of 9.2 % . these reductions were a result of a decrease in amortization of intangible assets since certain intangibles are now fully amortized . segment results—pfg customized fiscal year ended june 30 , 2018 compared to fiscal year ended july 1 , 2017 net sales net sales for pfg customized decreased $ 162.3 million , or 4.2 % , from fiscal 2017 to fiscal 2018. the decrease in net sales was primarily a result of the georgia facility that was closed in the fourth quarter of fiscal 2017. excluding the impact of the closed georgia facility , net sales would have increased $ 65.0 million in fiscal 2018 compared to the prior year as a result of an increase in selling price per case driven by a favorable shift in customer mix . ebitda ebitda for pfg customized increased $ 4.2 million , or 16.6 % , from fiscal 2017 to fiscal 2018. excluding the impact of the closed georgia facility , an increase in gross profit was offset by an increase in operating expenses , excluding depreciation and amortization . gross profit for pfg customized increased primarily as a result of a favorable shift in customer mix . 34 operating expenses , excluding depreciation and amortization , decreased by $ 9.4 million , or 4.5 % , in fiscal 2018 , compared to th e prior year primarily as a result of the closed georgia facility , partially offset by increases in personnel expenses and fuel expense . depreciation of fixed assets and amortization of intangible assets recorded in this segment decreased from $ 16.1 million in fiscal 2017 to $ 14.6 million in fiscal 2018. this decrease is primarily a result of lower amortization expense for certain customer relationship intangible assets , which are now fully amortized . fiscal year ended july 1 , 2017 compared to fiscal year ended july 2 , 2016 net sales net sales for pfg customized increased $ 38.7 million , or 1.0 % , from fiscal 2016 to fiscal 2017. the increase in net sales was driven by the new business with red lobster in fiscal 2017 , partially offset by the 53 rd week in fiscal 2016. net sales for the extra week in fiscal 2016 were approximately $ 70.2 million . ebitda ebitda for pfg customized decreased $ 8.8 million , or 25.8 % , from fiscal 2016 to fiscal 2017. the decrease was primarily attributable to a decrease in gross profit of $ 5.1 million , or 2.1 % , and an increase in operating expenses , excluding depreciation and amortization . gross profit for pfg customized decreased primarily as a result of the 53 rd week in fiscal 2016 and planned exits of some customers to free up capacity for the addition of the new business with red lobster . the company estimates that gross profit was approximately $ 4.4 million for the extra week in fiscal 2016. in the first quarter of fiscal 2017 we began providing distribution solutions to a portion of red lobster 's restaurants and completed the transition during the second quarter of fiscal 2017. operating expenses , excluding depreciation and amortization , increased by $ 3.7 million , or 1.8 % , in fiscal 2017 , compared to the prior year primarily driven by $ 5.2 million related to the closing of the georgia facility

liquidity and capital resources we have historically financed our operations and growth primarily with cash flows from operations , borrowings under our credit facility , operating and capital leases , and normal trade credit terms . we have typically funded our acquisitions with additional borrowings under our credit facility . our working capital and borrowing levels are subject to seasonal fluctuations , typically with the lowest borrowing levels in the third and fourth fiscal quarters and the highest borrowing levels occurring in the first and second fiscal quarters . we believe that our cash flows from operations and available borrowing capacity will be sufficient both to meet our anticipated cash requirements over at least the next 12 months and to maintain sufficient liquidity for normal operating purposes . at june 30 , 2018 , our cash balance totaled $ 17.8 million , including restricted cash of $ 10.3 million , as compared to a cash balance totaling $ 21.0 million , including restricted cash of $ 12.9 million , at july 1 , 2017. this decrease in cash during fiscal 2018 was attributable to net cash used in investing activities and financing activities of $ 209.4 million and $ 160.8 million , respectively , which was partially offset by net cash provided by operating activities of $ 367.0 million . we borrow under the abl facility or pay it down regularly based on our cash flows from operating and investing activities . our practice is to minimize interest expense while maintaining reasonable liquidity . as market conditions warrant , we may from time to time seek to repurchase our securities or loans in privately negotiated or open market transactions , by tender offer or otherwise . any such repurchases may be funded by incurring new debt , including additional borrowings under our abl facility . in addition , depending on conditions in the credit and capital markets and other factors , we will , from time to time , consider other financing transactions , the proceeds of which could be used to refinance our indebtedness , make investments or acquisitions or for other purposes . any new debt may be secured debt .


 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.
     ```liquidity and capital resources we have historically financed our operations and growth primarily with cash flows from operations , borrowings under our credit facility , operating and capital leases , and normal trade credit terms . we have typically funded our acquisitions with additional borrowings under our credit facility . our working capital and borrowing levels are subject to seasonal fluctuations , typically with the lowest borrowing levels in the third and fourth fiscal quarters and the highest borrowing levels occurring in the first and second fiscal quarters . we believe that our cash flows from operations and available borrowing capacity will be sufficient both to meet our anticipated cash requirements over at least the next 12 months and to maintain sufficient liquidity for normal operating purposes . at june 30 , 2018 , our cash balance totaled $ 17.8 million , including restricted cash of $ 10.3 million , as compared to a cash balance totaling $ 21.0 million , including restricted cash of $ 12.9 million , at july 1 , 2017. this decrease in cash during fiscal 2018 was attributable to net cash used in investing activities and financing activities of $ 209.4 million and $ 160.8 million , respectively , which was partially offset by net cash provided by operating activities of $ 367.0 million . we borrow under the abl facility or pay it down regularly based on our cash flows from operating and investing activities . our practice is to minimize interest expense while maintaining reasonable liquidity . as market conditions warrant , we may from time to time seek to repurchase our securities or loans in privately negotiated or open market transactions , by tender offer or otherwise . any such repurchases may be funded by incurring new debt , including additional borrowings under our abl facility . in addition , depending on conditions in the credit and capital markets and other factors , we will , from time to time , consider other financing transactions , the proceeds of which could be used to refinance our indebtedness , make investments or acquisitions or for other purposes . any new debt may be secured debt .
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 Suspicious Activity Report : the share of consumer spending captured by the food-away-from-home industry increased steadily for several decades and paused during the recession that began in 2008. following the recession , the share has again increased as a result of increasing employment , rising disposable income , increases in the number of restaurants , and favorable demographic trends , such as smaller household sizes , an increasing number of dual income households , and an aging population base that spends more per capita at foodservice establishments . the 27 foodservice distribution industry is also sensitive to national and regional economic conditions , such as changes in consumer spending , changes in consumer confidence , and changes in the p rices of certain goods . food distribution market structure . the food distribution market consists of a wide spectrum of companies ranging from businesses selling a single category of product ( e.g . , produce ) to large national and regional broadline distributors with many distribution centers and thousands of products across all categories . we believe our scale enables us to invest in our performance brands , to benefit from economies of scale in purchasing and procurement , and to drive supply chain efficiencies that enhance our customers ' satisfaction and profitability . we believe that the relative growth of larger foodservice distributors will continue to outpace that of smaller , independent players in our industry . our ability to successfully execute our segment strategies and implement our initiatives . our performance will continue to depend on our ability to successfully execute our segment strategies and to implement our current and future initiatives . the key strategies include focusing on independent sales and performance brands , pursuing new customers for all three of our reportable segments , expansion of geographies , utilizing our infrastructure to gain further operating and purchasing efficiencies , and making strategic acquisitions . how we assess the performance of our business in assessing the performance of our business , we consider a variety of performance and financial measures . the key measures used by our management are discussed below . the percentages on the results presented below are calculated based on rounded numbers . net sales net sales is equal to gross sales minus sales returns ; sales incentives that we offer to our customers , such as rebates and discounts that are offsets to gross sales ; and certain other adjustments . our net sales are driven by changes in case volumes , product inflation that is reflected in the pricing of our products , and mix of products sold . gross profit gross profit is equal to our net sales minus our cost of goods sold . cost of goods sold primarily includes inventory costs ( net of supplier consideration ) and inbound freight . cost of goods sold generally changes as we incur higher or lower costs from our suppliers and as our customer and product mix changes . ebitda and adjusted ebitda management measures operating performance based on our ebitda , defined as net income before interest expense , interest income , income taxes , and depreciation and amortization . ebitda is not defined under u.s. generally accepted accounting principles ( “ u.s . gaap ” ) and is not a measure of operating income , operating performance , or liquidity presented in accordance with u.s. gaap and is subject to important limitations . our definition of ebitda may not be the same as similarly titled measures used by other companies . we believe that the presentation of ebitda enhances an investor 's understanding of our performance . we use this measure to evaluate the performance of our segments and for business planning purposes . we present ebitda in order to provide supplemental information that we consider relevant for the readers of our consolidated financial statements included elsewhere in this report , and such information is not meant to replace or supersede u.s. gaap measures . in addition , our management uses adjusted ebitda , defined as net income before interest expense , interest income , income and franchise taxes , and depreciation and amortization , further adjusted to exclude certain items that we do not consider part of our core operating results . such adjustments include certain unusual , non-cash , non-recurring , cost reduction , and other adjustment items permitted in calculating covenant compliance under our credit agreement and indenture ( other than certain pro forma adjustments permitted under our credit agreement and indenture relating to the adjusted ebitda contribution of acquired entities or businesses prior to the acquisition date ) . under our credit agreement and indenture , our ability to engage in certain activities such as incurring certain additional indebtedness , making certain investments , and making restricted payments is tied to ratios based on adjusted ebitda ( as defined in the credit agreement and indenture ) . our definition of adjusted ebitda may not be the same as similarly titled measures used by other companies . 28 adjusted ebitda is not defined under u.s. gaap and is subject to important limitations . we believe that the presentation of adjusted ebitda is useful to investors because it is frequently used by securities analysts , investors , and other interested parties , including our lenders under the abl facility and holders of our notes ( as defined below under “ —liquidity and capital resources ” ) , in their evaluation of the operating performance of companies in industries similar to ours . in addition , targets based on adjusted ebitda are among the measures we use to evaluate our management 's performance for purposes of determining their compensation under our incentive plans . ebitda and adjusted ebitda have important limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of our results as reported under u.s. gaap . story_separator_special_tag fiscal year ended july 1 , 2017 compared to fiscal year ended july 2 , 2016 net sales net sales for performance foodservice increased $ 206.1 million , or 2.1 % , from fiscal 2016 to fiscal 2017. this increase in net sales was attributable to growth in cases sold , partially offset by the 53 rd week in fiscal 2016. net sales for the extra week in fiscal 2016 were approximately $ 188.0 million . case growth in fiscal 2017 was driven by securing new independent customers and further penetrating existing customers . securing new and expanded business with independent customers resulted in independent sales growth of approximately 4.6 % in fiscal 2017 compared to fiscal 2016. for fiscal 2017 , independent sales as a percentage of total segment sales were 44.4 % . ebitda ebitda for performance foodservice increased $ 16.8 million , or 5.5 % , from fiscal 2016 to fiscal 2017. this increase was the result of an increase in gross profit , partially offset by an increase in operating expenses , excluding depreciation and amortization . gross profit increased by 4.4 % in fiscal 2017 , compared to the prior fiscal year , as a result of an increase in cases sold , as well as an increase in the gross profit per case , partially offset by gross profit of approximately $ 28.3 million in the extra week in fiscal 2016. the increase in gross profit per case was driven by a favorable shift in the mix of cases sold toward independent customers and performance brands , as well as by an increase in procurement gains . independent business has higher gross margins than chain customers within this segment . operating expenses , excluding depreciation and amortization , for performance foodservice increased by $ 45.3 million , or 4.1 % , from fiscal 2016 to fiscal 2017. operating expenses increased as a result of an increase in case volume and the resulting impact on variable operational and selling expenses , as well as cost of living and other increases in compensation and benefits and increase in costs associated with insurance expense primarily related to workers ' compensation and vehicle liability of $ 5.9 million . these increases were partially offset by the extra week in fiscal 2016. the company estimates that operating expenses excluding depreciation and amortization were approximately $ 21.2 million in the 53 rd week of fiscal 2016. depreciation of fixed assets and amortization of intangible assets recorded in this segment decreased from $ 63.2 million in fiscal 2016 to $ 57.4 million in fiscal 2017 , a decrease of 9.2 % . these reductions were a result of a decrease in amortization of intangible assets since certain intangibles are now fully amortized . segment results—pfg customized fiscal year ended june 30 , 2018 compared to fiscal year ended july 1 , 2017 net sales net sales for pfg customized decreased $ 162.3 million , or 4.2 % , from fiscal 2017 to fiscal 2018. the decrease in net sales was primarily a result of the georgia facility that was closed in the fourth quarter of fiscal 2017. excluding the impact of the closed georgia facility , net sales would have increased $ 65.0 million in fiscal 2018 compared to the prior year as a result of an increase in selling price per case driven by a favorable shift in customer mix . ebitda ebitda for pfg customized increased $ 4.2 million , or 16.6 % , from fiscal 2017 to fiscal 2018. excluding the impact of the closed georgia facility , an increase in gross profit was offset by an increase in operating expenses , excluding depreciation and amortization . gross profit for pfg customized increased primarily as a result of a favorable shift in customer mix . 34 operating expenses , excluding depreciation and amortization , decreased by $ 9.4 million , or 4.5 % , in fiscal 2018 , compared to th e prior year primarily as a result of the closed georgia facility , partially offset by increases in personnel expenses and fuel expense . depreciation of fixed assets and amortization of intangible assets recorded in this segment decreased from $ 16.1 million in fiscal 2017 to $ 14.6 million in fiscal 2018. this decrease is primarily a result of lower amortization expense for certain customer relationship intangible assets , which are now fully amortized . fiscal year ended july 1 , 2017 compared to fiscal year ended july 2 , 2016 net sales net sales for pfg customized increased $ 38.7 million , or 1.0 % , from fiscal 2016 to fiscal 2017. the increase in net sales was driven by the new business with red lobster in fiscal 2017 , partially offset by the 53 rd week in fiscal 2016. net sales for the extra week in fiscal 2016 were approximately $ 70.2 million . ebitda ebitda for pfg customized decreased $ 8.8 million , or 25.8 % , from fiscal 2016 to fiscal 2017. the decrease was primarily attributable to a decrease in gross profit of $ 5.1 million , or 2.1 % , and an increase in operating expenses , excluding depreciation and amortization . gross profit for pfg customized decreased primarily as a result of the 53 rd week in fiscal 2016 and planned exits of some customers to free up capacity for the addition of the new business with red lobster . the company estimates that gross profit was approximately $ 4.4 million for the extra week in fiscal 2016. in the first quarter of fiscal 2017 we began providing distribution solutions to a portion of red lobster 's restaurants and completed the transition during the second quarter of fiscal 2017. operating expenses , excluding depreciation and amortization , increased by $ 3.7 million , or 1.8 % , in fiscal 2017 , compared to the prior year primarily driven by $ 5.2 million related to the closing of the georgia facility

