brent crude oil prices averaged $ 54 per barrel in 2017 , which was 24 % above the 2016 average of $ 44 per barrel , but is 45 % below the average in 2014. similarly , the average price of west texas intermediate ( “ wti ” ) was $ 51 per barrel in 2017 , up 17 % from the 2016 average of $ 43 per barrel , but was 45 % below the average in 2014. the year-over-year improvement in crude oil prices was driven by the belief that opec and russia , its key ally in the effort to stabilize the global crude oil market , would be successful in cutting their production . however , improvements in crude oil prices rapidly translated into increased drilling activity in u.s. shale play developments in areas such as the permian basin in 2017 , which is leading to higher domestic production . spending in these regions , which began to improve in the second half of 2016 in response to higher crude oil prices , has positively influenced the overall drilling and completion activity in these regions and , therefore , the activity of our well site services segment as well as for short-cycle products within our offshore/manufactured products segment in 2017. expectations with respect to the longer-term price for brent crude oil will continue to influence our customers ' spending related to global offshore drilling and development and , thus , a significant portion of the activity of our offshore/manufactured products segment . given the historical volatility of crude oil prices , there remains a degree of risk that prices could remain at their current levels or deteriorate further due to increases in global inventory levels , increasing domestic crude oil production , slowing growth rates in various global regions , use of alternatives , a more sustained movement to electric vehicles and or the potential for ongoing supply/demand imbalances . conversely , if the global supply of crude oil were to decrease due to a prolonged reduction in capital investment by our customers or if government instability in a major oil-producing nation develops , and energy demand were to continue to increase in the united states , india and china , a sustained recovery in wti and brent crude oil prices could occur . in any event , continued crude oil price improvements will depend upon the balance of global supply and demand , with a corresponding continued - 32 - reduction in global inventories , the timing of which is difficult to predict . if commodity prices do not continue to improve , or decline , demand for our products and services could continue to be weak or could decline further . natural gas prices improved slightly over the past year from an average of $ 2.52 per mmbtu in 2016 to an average of $ 2.99 per mmbtu during 2017. customer spending in the natural gas shale plays has been limited due to associated natural gas being produced from unconventional oil wells in north america . if natural gas production growth surpasses demand growth in the united states , and or if the supply of natural gas were to increase , whether from conventional or unconventional production or associated natural gas production from oil wells , prices for natural gas could remain depressed for an extended period of time and could result in fewer rigs drilling for natural gas . recent wti crude oil , brent crude oil and natural gas pricing trends are as follows : replace_table_token_7_th ( 1 ) source : u.s. energy information administration . as of february 12 , 2018 , wti crude oil , brent crude oil and natural gas traded at approximately $ 59.41 per barrel , $ 62.20 per barrel and $ 2.60 per mmbtu , respectively . overview our offshore/manufactured products segment provides technology-driven , highly-engineered products and services for offshore oil and natural gas production systems and facilities , as well as certain products and services to the offshore and land-based drilling and completion markets . approximately 60 % of offshore/manufactured products sales in 2015 and 2016 were driven by our customers ' capital spending for offshore production systems and subsea pipelines , repairs and , to a lesser extent , upgrades of existing offshore drilling rigs and construction of new offshore drilling rigs and vessels ( referred to herein as `` project-driven product revenue `` ) . as a result , this segment is particularly influenced by global deepwater drilling and production spending , which are driven largely by our customers ' longer-term outlook for crude oil and natural gas prices . deepwater oil and gas development projects typically involve significant capital investments and multi-year development plans . such projects are generally undertaken by larger exploration , field development and production companies ( primarily international oil companies ( “ iocs ” ) and state-run national oil companies ( “ nocs ” ) using relatively conservative crude oil and natural gas pricing assumptions . given the longer lead times associated with field development , we believe some of these deepwater projects , once approved for development , are less susceptible to short-term fluctuations in the price of crude oil and natural gas . however , the decline in crude oil prices that began in 2014 and continued into 2017 , coupled with the relatively uncertain outlook around shorter-term and possibly longer-term pricing improvements , have caused exploration and production companies to reevaluate their future capital expenditures in regards to these deepwater projects since they are expensive to drill and complete , have long lead times to first production and may be considered uneconomical relative to the risk involved . a few development projects were sanctioned in 2017 due to re-engineering of the projects and lower development costs , which led to an improvement in final investment decisions ( “ fids ” ) on these projects from the previous two years . story_separator_special_tag our drilling services gross profit as a percentage of revenues improved from 4 % in 2016 to 12 % in 2017 primarily due to increased rig utilization and cost absorption . our offshore/manufactured products segment cost of sales decreased $ 79.4 million , or 23 % , in 2017 compared to 2016 reflecting the decrease in project-driven revenues . gross profit as a percentage of revenues decreased from 31 % in 2016 to 29 % in 2017 , due primarily to the reported 57 % decline in sales of project-driven products , which was partially offset by a 67 % increase in sales of short-cycle products . - 38 - selling , general and administrative expenses . selling , general and administrative expenses decreased $ 9.2 million , or 7 % , in 2017 from the prior-year primarily due to the impact of cost reduction initiatives and lower employee severance-related charges in 2017 , partially offset by higher incentive compensation accruals . depreciation and amortization . depreciation and amortization expense decreased $ 11.1 million , or 9 % , in 2017 compared to 2016 primarily due to certain assets becoming fully depreciated coupled with overall lower levels of capital expenditures . other operating ( income ) expense , net . other operating ( income ) expense , net moved from other operating income of $ 5.8 million in 2016 to other operating expense of $ 1.3 million in 2017 , reflecting primarily the impact of foreign currency exchange gains or losses recognized in the respective periods . operating loss . our consolidated operating loss increased from $ 69.3 million in 2016 to $ 73.9 million in 2017 primarily as a result of a decrease in operating income from our offshore/manufactured products segment of $ 48.9 million due to a continued decline in offshore-related activity , substantially offset by an improvement of $ 48.8 million in the operating losses from our well site services segment . corporate expenses were $ 52.9 million in 2017 , an increase of $ 4.5 million from the prior-year due primarily to higher incentive compensation accruals , increased stock-based compensation expense and acquisition related expenses incurred in 2017. interest expense and interest income . net interest expense decreased $ 0.6 million , or 13 % , in 2017 compared to 2016 primarily due to a reduction in average amounts outstanding under the revolving credit facility partially offset by higher unused commitment fees paid to our lenders . interest expense as a percentage of total debt outstanding increased from 6.5 % in 2016 to 17.3 % in 2017 due to an increased proportion of interest expense associated with unused commitment fees , lower average borrowings outstanding under the revolving credit facility and non-cash amortization of debt issuance costs . income tax expense . our income tax provision for 2017 was $ 7.4 million ( an income tax benefit of $ 21.8 million , or 28.1 % of pre-tax losses , after excluding the discrete charges discussed below ) compared to an income tax benefit of $ 26.9 million , or 36.7 % of pre-tax losses for 2016. the lower effective tax rate benefit in 2017 after excluding discrete charges was attributable to a shift in the mix between domestic pre-tax losses and foreign pre-tax income compared to the prior-year period and additional valuation allowances provided against net operating losses in certain domestic and foreign jurisdictions . on december 22 , 2017 , the united states enacted tax reform legislation which resulted in significant changes to u.s. tax and related law , including certain key federal income tax provisions applicable to multinational companies such as ours . as a result of the tax law changes , we recorded $ 28.2 million of incremental non-cash income tax expense related to the u.s. transition tax on our unremitted foreign subsidiary earnings and to provide valuation allowances against our foreign tax credit carryforwards ( which were recorded as assets prior to u.s. tax reform ) . additionally , we re-measured our other u.s. deferred tax assets and liabilities to reflect the lower u.s. corporate income tax rate which has been reduced from 35 % to 21 % . the company also recorded a discrete tax charge of $ 1.0 million during the third quarter of 2017 related to the decision to carryback 2016 u.s. net operating losses against 2014 taxable income . on a longer term basis , certain aspects of the tax reform legislation are expected to have a positive impact on our future u.s. income tax expense , including the reduction in the u.s. corporate income tax rate . other comprehensive income ( loss ) . other comprehensive income was $ 11.8 million in 2017 compared to a loss of $ 19.6 million in 2016 due to fluctuations in foreign currency exchange rates compared to the u.s. dollar for certain of the international operations of our reportable segments . for 2017 and 2016 , currency translation adjustments recognized as a component of other comprehensive income ( loss ) were primarily attributable to the united kingdom and brazil . during 2017 , exchange rates for the british pound strengthened compared to the u.s. dollar , while the brazilian real weakened compared to the u.s. dollar . this compares to 2016 , when exchange rates for the british pound weakened compared to the u.s. dollar , while the brazilian real strengthened compared to the u.s. dollar . the british pound was impacted by the united kingdom 's vote to exit the european union in late june 2016 . - 39 - year ended december 31 , 2016 compared to year ended december 31 , 2015 net loss from continuing operations for the year end december 31 , 2016 was $ 46.4 million , or $ ( 0.92 ) per diluted share , which included $ 5.2 million ( $ 3.3 million after-tax , or $ 0.06 per diluted share ) of severance and other downsizing charges . excluding these charges ,

cash flows totaling $ 95.4 million were provided by operations during the year ended december 31 , 2017 compared to $ 149.3 million provided by operations during the year ended december 31 , 2016 . during 2017 and 2016 , $ 32.4 million and $ 90.3 million , respectively , was provided from net working capital reductions , which included decreases in accounts receivable and inventories . investing activities a total of $ 47.6 million in cash was used in investing activities during the year ended december 31 , 2017 , compared to $ 29.3 million used during the year ended december 31 , 2016 . capital expenditures totaled $ 35.2 million and $ 29.7 million during the years ended december 31 , 2017 and 2016 , respectively . capital expenditures in both years consisted principally of purchases of completion services equipment , expansion and upgrading of our offshore/manufactured products segment facilities and various other capital spending initiatives . during 2017 , we also invested $ 12.9 million within our offshore/manufactured products segment to acquire complementary intellectual property and assets to expand our global crane manufacturing and service operations as well as our riser testing , inspection and repair service offerings . on january 12 , 2018 , we acquired geodynamics for a purchase price consisting of ( i ) $ 295 million in cash ( net of cash acquired ) , which we funded through borrowings under our revolving credit facility , ( ii ) approximately 8.66 million shares of our common stock ( having a market value of approximately $ 295 million as of the closing date ) and ( iii ) an unsecured $ 25 million promissory note . we expect to spend between $ 60 million and $ 70 million in total capital expenditures during 2018 to upgrade and maintain our offshore/manufactured products facilities and equipment , to replace and upgrade our completion services equipment , to expand and maintain geodynamics facilities and equipment and to fund various other capital spending projects .


 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 totaling $ 95.4 million were provided by operations during the year ended december 31 , 2017 compared to $ 149.3 million provided by operations during the year ended december 31 , 2016 . during 2017 and 2016 , $ 32.4 million and $ 90.3 million , respectively , was provided from net working capital reductions , which included decreases in accounts receivable and inventories . investing activities a total of $ 47.6 million in cash was used in investing activities during the year ended december 31 , 2017 , compared to $ 29.3 million used during the year ended december 31 , 2016 . capital expenditures totaled $ 35.2 million and $ 29.7 million during the years ended december 31 , 2017 and 2016 , respectively . capital expenditures in both years consisted principally of purchases of completion services equipment , expansion and upgrading of our offshore/manufactured products segment facilities and various other capital spending initiatives . during 2017 , we also invested $ 12.9 million within our offshore/manufactured products segment to acquire complementary intellectual property and assets to expand our global crane manufacturing and service operations as well as our riser testing , inspection and repair service offerings . on january 12 , 2018 , we acquired geodynamics for a purchase price consisting of ( i ) $ 295 million in cash ( net of cash acquired ) , which we funded through borrowings under our revolving credit facility , ( ii ) approximately 8.66 million shares of our common stock ( having a market value of approximately $ 295 million as of the closing date ) and ( iii ) an unsecured $ 25 million promissory note . we expect to spend between $ 60 million and $ 70 million in total capital expenditures during 2018 to upgrade and maintain our offshore/manufactured products facilities and equipment , to replace and upgrade our completion services equipment , to expand and maintain geodynamics facilities and equipment and to fund various other capital spending projects .
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 Suspicious Activity Report : brent crude oil prices averaged $ 54 per barrel in 2017 , which was 24 % above the 2016 average of $ 44 per barrel , but is 45 % below the average in 2014. similarly , the average price of west texas intermediate ( “ wti ” ) was $ 51 per barrel in 2017 , up 17 % from the 2016 average of $ 43 per barrel , but was 45 % below the average in 2014. the year-over-year improvement in crude oil prices was driven by the belief that opec and russia , its key ally in the effort to stabilize the global crude oil market , would be successful in cutting their production . however , improvements in crude oil prices rapidly translated into increased drilling activity in u.s. shale play developments in areas such as the permian basin in 2017 , which is leading to higher domestic production . spending in these regions , which began to improve in the second half of 2016 in response to higher crude oil prices , has positively influenced the overall drilling and completion activity in these regions and , therefore , the activity of our well site services segment as well as for short-cycle products within our offshore/manufactured products segment in 2017. expectations with respect to the longer-term price for brent crude oil will continue to influence our customers ' spending related to global offshore drilling and development and , thus , a significant portion of the activity of our offshore/manufactured products segment . given the historical volatility of crude oil prices , there remains a degree of risk that prices could remain at their current levels or deteriorate further due to increases in global inventory levels , increasing domestic crude oil production , slowing growth rates in various global regions , use of alternatives , a more sustained movement to electric vehicles and or the potential for ongoing supply/demand imbalances . conversely , if the global supply of crude oil were to decrease due to a prolonged reduction in capital investment by our customers or if government instability in a major oil-producing nation develops , and energy demand were to continue to increase in the united states , india and china , a sustained recovery in wti and brent crude oil prices could occur . in any event , continued crude oil price improvements will depend upon the balance of global supply and demand , with a corresponding continued - 32 - reduction in global inventories , the timing of which is difficult to predict . if commodity prices do not continue to improve , or decline , demand for our products and services could continue to be weak or could decline further . natural gas prices improved slightly over the past year from an average of $ 2.52 per mmbtu in 2016 to an average of $ 2.99 per mmbtu during 2017. customer spending in the natural gas shale plays has been limited due to associated natural gas being produced from unconventional oil wells in north america . if natural gas production growth surpasses demand growth in the united states , and or if the supply of natural gas were to increase , whether from conventional or unconventional production or associated natural gas production from oil wells , prices for natural gas could remain depressed for an extended period of time and could result in fewer rigs drilling for natural gas . recent wti crude oil , brent crude oil and natural gas pricing trends are as follows : replace_table_token_7_th ( 1 ) source : u.s. energy information administration . as of february 12 , 2018 , wti crude oil , brent crude oil and natural gas traded at approximately $ 59.41 per barrel , $ 62.20 per barrel and $ 2.60 per mmbtu , respectively . overview our offshore/manufactured products segment provides technology-driven , highly-engineered products and services for offshore oil and natural gas production systems and facilities , as well as certain products and services to the offshore and land-based drilling and completion markets . approximately 60 % of offshore/manufactured products sales in 2015 and 2016 were driven by our customers ' capital spending for offshore production systems and subsea pipelines , repairs and , to a lesser extent , upgrades of existing offshore drilling rigs and construction of new offshore drilling rigs and vessels ( referred to herein as `` project-driven product revenue `` ) . as a result , this segment is particularly influenced by global deepwater drilling and production spending , which are driven largely by our customers ' longer-term outlook for crude oil and natural gas prices . deepwater oil and gas development projects typically involve significant capital investments and multi-year development plans . such projects are generally undertaken by larger exploration , field development and production companies ( primarily international oil companies ( “ iocs ” ) and state-run national oil companies ( “ nocs ” ) using relatively conservative crude oil and natural gas pricing assumptions . given the longer lead times associated with field development , we believe some of these deepwater projects , once approved for development , are less susceptible to short-term fluctuations in the price of crude oil and natural gas . however , the decline in crude oil prices that began in 2014 and continued into 2017 , coupled with the relatively uncertain outlook around shorter-term and possibly longer-term pricing improvements , have caused exploration and production companies to reevaluate their future capital expenditures in regards to these deepwater projects since they are expensive to drill and complete , have long lead times to first production and may be considered uneconomical relative to the risk involved . a few development projects were sanctioned in 2017 due to re-engineering of the projects and lower development costs , which led to an improvement in final investment decisions ( “ fids ” ) on these projects from the previous two years . story_separator_special_tag our drilling services gross profit as a percentage of revenues improved from 4 % in 2016 to 12 % in 2017 primarily due to increased rig utilization and cost absorption . our offshore/manufactured products segment cost of sales decreased $ 79.4 million , or 23 % , in 2017 compared to 2016 reflecting the decrease in project-driven revenues . gross profit as a percentage of revenues decreased from 31 % in 2016 to 29 % in 2017 , due primarily to the reported 57 % decline in sales of project-driven products , which was partially offset by a 67 % increase in sales of short-cycle products . - 38 - selling , general and administrative expenses . selling , general and administrative expenses decreased $ 9.2 million , or 7 % , in 2017 from the prior-year primarily due to the impact of cost reduction initiatives and lower employee severance-related charges in 2017 , partially offset by higher incentive compensation accruals . depreciation and amortization . depreciation and amortization expense decreased $ 11.1 million , or 9 % , in 2017 compared to 2016 primarily due to certain assets becoming fully depreciated coupled with overall lower levels of capital expenditures . other operating ( income ) expense , net . other operating ( income ) expense , net moved from other operating income of $ 5.8 million in 2016 to other operating expense of $ 1.3 million in 2017 , reflecting primarily the impact of foreign currency exchange gains or losses recognized in the respective periods . operating loss . our consolidated operating loss increased from $ 69.3 million in 2016 to $ 73.9 million in 2017 primarily as a result of a decrease in operating income from our offshore/manufactured products segment of $ 48.9 million due to a continued decline in offshore-related activity , substantially offset by an improvement of $ 48.8 million in the operating losses from our well site services segment . corporate expenses were $ 52.9 million in 2017 , an increase of $ 4.5 million from the prior-year due primarily to higher incentive compensation accruals , increased stock-based compensation expense and acquisition related expenses incurred in 2017. interest expense and interest income . net interest expense decreased $ 0.6 million , or 13 % , in 2017 compared to 2016 primarily due to a reduction in average amounts outstanding under the revolving credit facility partially offset by higher unused commitment fees paid to our lenders . interest expense as a percentage of total debt outstanding increased from 6.5 % in 2016 to 17.3 % in 2017 due to an increased proportion of interest expense associated with unused commitment fees , lower average borrowings outstanding under the revolving credit facility and non-cash amortization of debt issuance costs . income tax expense . our income tax provision for 2017 was $ 7.4 million ( an income tax benefit of $ 21.8 million , or 28.1 % of pre-tax losses , after excluding the discrete charges discussed below ) compared to an income tax benefit of $ 26.9 million , or 36.7 % of pre-tax losses for 2016. the lower effective tax rate benefit in 2017 after excluding discrete charges was attributable to a shift in the mix between domestic pre-tax losses and foreign pre-tax income compared to the prior-year period and additional valuation allowances provided against net operating losses in certain domestic and foreign jurisdictions . on december 22 , 2017 , the united states enacted tax reform legislation which resulted in significant changes to u.s. tax and related law , including certain key federal income tax provisions applicable to multinational companies such as ours . as a result of the tax law changes , we recorded $ 28.2 million of incremental non-cash income tax expense related to the u.s. transition tax on our unremitted foreign subsidiary earnings and to provide valuation allowances against our foreign tax credit carryforwards ( which were recorded as assets prior to u.s. tax reform ) . additionally , we re-measured our other u.s. deferred tax assets and liabilities to reflect the lower u.s. corporate income tax rate which has been reduced from 35 % to 21 % . the company also recorded a discrete tax charge of $ 1.0 million during the third quarter of 2017 related to the decision to carryback 2016 u.s. net operating losses against 2014 taxable income . on a longer term basis , certain aspects of the tax reform legislation are expected to have a positive impact on our future u.s. income tax expense , including the reduction in the u.s. corporate income tax rate . other comprehensive income ( loss ) . other comprehensive income was $ 11.8 million in 2017 compared to a loss of $ 19.6 million in 2016 due to fluctuations in foreign currency exchange rates compared to the u.s. dollar for certain of the international operations of our reportable segments . for 2017 and 2016 , currency translation adjustments recognized as a component of other comprehensive income ( loss ) were primarily attributable to the united kingdom and brazil . during 2017 , exchange rates for the british pound strengthened compared to the u.s. dollar , while the brazilian real weakened compared to the u.s. dollar . this compares to 2016 , when exchange rates for the british pound weakened compared to the u.s. dollar , while the brazilian real strengthened compared to the u.s. dollar . the british pound was impacted by the united kingdom 's vote to exit the european union in late june 2016 . - 39 - year ended december 31 , 2016 compared to year ended december 31 , 2015 net loss from continuing operations for the year end december 31 , 2016 was $ 46.4 million , or $ ( 0.92 ) per diluted share , which included $ 5.2 million ( $ 3.3 million after-tax , or $ 0.06 per diluted share ) of severance and other downsizing charges . excluding these charges ,

