through our black diamond , pieps , and skinourishment brands , we offer a broad range of products including : high-performance , activity-based apparel ( such as shells , insulation , midlayers , pants and logowear ) ; rock-climbing footwear and equipment ( such as carabiners , protection devices , harnesses , belay devices , helmets , and ice-climbing gear ) ; technical backpacks and high-end day packs ; trekking poles ; headlamps and lanterns ; gloves and mittens ; and skincare and other sport-enhancing products . we also offer advanced skis , ski poles , ski skins , and snow safety products , including avalanche airbag systems , avalanche transceivers , shovels , and probes . through our sierra brand , we manufacture a wide range of high-performance bullets and ammunition for both rifles and pistols that are used for precision target shooting , hunting and military and law enforcement purposes . clarus corporation , incorporated in delaware in 1991 , acquired black diamond equipment , ltd. ( “ black diamond equipment ” ) in may 2010 and changed its name to black diamond , inc. in january 2011. in october 2012 , we acquired pieps holding gmbh and its subsidiaries ( collectively , “ pieps ” ) . on august 14 , 2017 , the company changed its name from black diamond , inc. to clarus corporation and its stock ticker symbol from “ bde ” to “ clar ” on the nasdaq stock exchange . on august 21 , 2017 , the company acquired sierra bullets , l.l.c . ( “ sierra ” ) . on november 6 , 2018 , the company acquired the assets of skinourishment , inc. ( “ skinourishment ” ) . on may 7 , 2018 , the company announced a “ modified dutch auction ” tender offer for clarus ' common stock , as well as the preferred share purchase rights associated with such shares ( collectively , the “ shares ” ) . on july 11 , 2018 , the tender offer expired , following which the company announced it would accept 417,237 shares for purchase at a price of $ 8.00 per share , for an aggregate cost of approximately $ 3,338,000 , excluding fees and expenses . 28 on august 6 , 2018 , the company announced that its board of directors approved the initiation of a quarterly cash dividend program of $ 0.025 per share of the company 's common stock ( the “ quarterly cash dividend ” ) or $ 0.10 per share on an annualized basis . in 2019 and 2018 , our total quarterly cash dividends were $ 2,987,000 and $ 1,488,000 , respectively . on january 24 , 2020 , the company announced that its board of directors approved the payment on february 14 , 2020 of the quarterly cash dividend to the record holders of shares of the company 's common stock as of the close of business on february 3 , 2020. critical accounting policies and use of estimates management 's discussion of our financial condition and results of operations is based on the consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles ( “ gaap ” ) . the preparation of the consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the consolidated financial statements . estimates also affect the reported amounts of revenues and expenses during the reporting periods . we continually evaluate our estimates and assumptions including those related to derivatives , revenue recognition , income taxes and valuation of long-lived assets , goodwill and other intangible assets . we base our estimates on historical experience and other assumptions that are believed to be reasonable under the circumstances . actual results could differ from these estimates . we believe the following critical accounting policies include the more significant estimates and assumptions used in the preparation of our consolidated financial statements . our accounting policies are more fully described in note 1 of our consolidated financial statements . · we allocate the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values . the excess of the purchase price over these fair values is recorded as goodwill . we engage independent third-party valuation specialists to assist us in determining the fair values of certain assets acquired and liabilities assumed . such valuations require management to make significant estimates and assumptions , especially with respect to intangible assets . different valuations approaches are used to value different types of intangible assets . the income approach is a valuation technique that capitalizes anticipated income associated with the asset being valued . this approach is predicated on developing net income and cash flow projections which are discounted for risk and the time value of money . this approach is generally the principal approach to the valuation of most intangible assets . the market approach involves the compilation and analysis of recent acquisitions of similar assets in the open market . a fair value can be estimated after adjustments are made to reflect comparability differences between the assets sold and those being valued . this method of valuation applies primarily to the valuation of owned land and certain intangible assets . the cost approach estimates the amount that would be required to replace the service capacity of an asset ( often referred to as current replacement cost ) . we typically apply all three approaches to estimate the fair value of our tangible and intangible tangible assets depending on the type of asset acquired . significant estimates in valuing certain intangible assets include but are not limited to the projected financial information related to each individual asset , particularly forecasted revenue growth rates , market-based royalty rates and estimated discount rates . story_separator_special_tag 6,371 in incremental sales during the year ended december 31 , 2018. the remaining increase in international sales was attributable to the increase in the quantity of new and existing climb and mountain products sold during the period and an increase in sales of $ 2,799 due to the strengthening of foreign currencies against the u.s. dollar during the year ended december 31 , 2018 compared to the prior period . 33 cost of goods sold consolidated cost of goods sold increased $ 21,302 , or 18.2 % , to $ 138,179 during the year ended december 31 , 2018 , compared to consolidated cost of goods sold of $ 116,877 during the year ended december 31 , 2017. the increase in cost of goods sold was partially attributable to the inclusion of sierra , which contributed $ 14,382 in incremental cost of goods sold , which included $ 1,049 related to the sale of inventory that was recorded at fair value in purchase accounting . the remaining increase was attributable to an increase in the number of units sold and the mix of higher cost products sold . gross profit consolidated gross profit increased $ 20,152 or 37.5 % , to $ 73,962 during the year ended december 31 , 2018 , compared to consolidated gross profit of $ 53,810 during the year ended december 31 , 2017. consolidated gross margin was 34.9 % during the year ended december 31 , 2018 , compared to a consolidated gross margin of 31.5 % during the year ended december 31 , 2017. consolidated gross margin during the year ended december 31 , 2018 , increased compared to the prior year due to a favorable product mix in higher margin products and channel distribution . gross margin also benefited from the inclusion of sierra ; however , this benefit was partially offset by a decrease in gross margin of 0.5 % due to the sale of inventory that was recorded at its fair value in purchase accounting . consolidated gross margin during the year ended december 31 , 2017 was also negatively impacted by 1.2 % due to the sale of inventory that was recorded at its preliminary fair value in purchase accounting . selling , general and administrative consolidated selling , general , and administrative expenses increased $ 8,856 , or 15.7 % , to $ 65,151 during the year ended december 31 , 2018 , compared to consolidated selling , general and administrative expenses of $ 56,295 during the year ended december 31 , 2017. the increase in selling , general and administrative expenses was partially attributable to the inclusion of sierra of $ 4,504 in incremental selling , general , and administrative expenses . the remaining increase being attributable to the company 's investment in the brand related activities of sales , marketing , research and development , and fulfillment in supporting its strategic initiatives around new product introduction and increasing brand equity . stock compensation also increased $ 1,471 during the year ended december 31 , 2018 compared to the prior year . restructuring charges consolidated restructuring expense decreased $ 23 , or 14.4 % , to $ 137 during the year ended december 31 , 2018 , compared to consolidated restructuring expense of $ 160 during the year ended december 31 , 2017. restructuring expenses incurred during the year ended december 31 , 2018 , related to costs associated with the formal closure and liquidation of the company 's black diamond equipment manufacturing operations in zhuhai , china . merger and integration costs consolidated merger and integration expense decreased to $ 0 during the year ended december 31 , 2018 compared to consolidated merger and integration expense of $ 82 during the year ended december 31 , 2017 , which consisted of expenses related to the integration of sierra . transaction costs consolidated transaction expense decreased to $ 503 during the year ended december 31 , 2018 , compared to consolidated transaction costs of $ 2,088 during the year ended december 31 , 2017 , which consisted of expenses related to the company 's acquisition of sierra . interest expense , net consolidated interest expense , net increased $ 51 , or 4.0 % , to $ 1,339 during the year ended december 31 , 2018 , compared to consolidated interest expense , net , of $ 1,288 during the year ended december 31 , 2017. interest expense recognized during the year ended december 31 , 2018 was primarily attributable to the write-off of previously capitalized origination costs of $ 279 associated with our previous credit facility , which was replaced with the new credit agreement with jpmorgan chase bank , n.a . , and interest expense associated with the average outstanding debt amounts during the year ended december 31 , 2018. interest expense recognized during the year ended december 31 , 2017 was primarily attributable to the company 's 5 % senior subordinated notes which were repaid during the year ended december 31 , 2017. other , net consolidated other , net , decreased $ 702 , or 204.7 % , to expense of $ 359 during the year ended december 31 , 2018 , compared to consolidated other , net income of $ 343 during the year ended december 31 , 2017. the decrease in other , net , was primarily attributable to a decrease in remeasurement gains recognized on the company 's foreign denominated accounts receivable and accounts payable and losses related to recognition of cumulative translation adjustments due to the substantial liquidation of a foreign entity . this decrease was partially offset by gains on mark-to-market adjustments on non-hedged foreign currency contracts . 34 income taxes consolidated income tax benefit decreased $ 4,259 , or 83.7 % , to a benefit of $ 828 during the year ended december 31 , 2018 , compared to a consolidated income tax benefit of $ 5,087 during the same period in 2017. due to the tax

net cash from investing activities consolidated net cash used in investing activities was $ 4,096 during the year ended december 31 , 2019 compared to consolidated net cash used in investing activities of $ 4,079 during the year ended december 31 , 2018. the increase in cash used during the year ended december 31 , 2019 is due to an increase in purchases of property and equipment , compared to the same period in 2018. net cash from financing activities consolidated net cash used in financing activities was $ 6,286 during the year ended december 31 , 2019 , compared to consolidated net cash used in financing activities of $ 6,559 during the year ended december 31 , 2018. the decrease in cash used during the year ended december 31 , 2019 compared to the same period in 2018 is primarily due to decreases in the purchase of treasury stock and payments of debt issuance costs and increases in the proceeds from exercise of stock options . this decrease was partially offset by increased cash dividends paid and a decrease in net proceeds from the revolving credit facility . net operating loss as of december 31 , 2019 , the company had net operating loss and research and experimentation credit for u.s. federal income tax purposes of $ 131,621 and $ 4,250 , respectively . the company believes its u.s. federal nol will offset some of its future u.s. federal income taxes . the majority of the company 's pre-tax income is currently earned and expected to be earned in the u.s. , or taxed in the u.s. as subpart f income and will be offset with the nol . $ 131,621 of net operating losses available to offset taxable income does not expire until 2021 or later , subject to compliance with section 382 of the internal revenue code of 1986 , as amended .


 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.
     ```net cash from investing activities consolidated net cash used in investing activities was $ 4,096 during the year ended december 31 , 2019 compared to consolidated net cash used in investing activities of $ 4,079 during the year ended december 31 , 2018. the increase in cash used during the year ended december 31 , 2019 is due to an increase in purchases of property and equipment , compared to the same period in 2018. net cash from financing activities consolidated net cash used in financing activities was $ 6,286 during the year ended december 31 , 2019 , compared to consolidated net cash used in financing activities of $ 6,559 during the year ended december 31 , 2018. the decrease in cash used during the year ended december 31 , 2019 compared to the same period in 2018 is primarily due to decreases in the purchase of treasury stock and payments of debt issuance costs and increases in the proceeds from exercise of stock options . this decrease was partially offset by increased cash dividends paid and a decrease in net proceeds from the revolving credit facility . net operating loss as of december 31 , 2019 , the company had net operating loss and research and experimentation credit for u.s. federal income tax purposes of $ 131,621 and $ 4,250 , respectively . the company believes its u.s. federal nol will offset some of its future u.s. federal income taxes . the majority of the company 's pre-tax income is currently earned and expected to be earned in the u.s. , or taxed in the u.s. as subpart f income and will be offset with the nol . $ 131,621 of net operating losses available to offset taxable income does not expire until 2021 or later , subject to compliance with section 382 of the internal revenue code of 1986 , as amended .
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 Suspicious Activity Report : through our black diamond , pieps , and skinourishment brands , we offer a broad range of products including : high-performance , activity-based apparel ( such as shells , insulation , midlayers , pants and logowear ) ; rock-climbing footwear and equipment ( such as carabiners , protection devices , harnesses , belay devices , helmets , and ice-climbing gear ) ; technical backpacks and high-end day packs ; trekking poles ; headlamps and lanterns ; gloves and mittens ; and skincare and other sport-enhancing products . we also offer advanced skis , ski poles , ski skins , and snow safety products , including avalanche airbag systems , avalanche transceivers , shovels , and probes . through our sierra brand , we manufacture a wide range of high-performance bullets and ammunition for both rifles and pistols that are used for precision target shooting , hunting and military and law enforcement purposes . clarus corporation , incorporated in delaware in 1991 , acquired black diamond equipment , ltd. ( “ black diamond equipment ” ) in may 2010 and changed its name to black diamond , inc. in january 2011. in october 2012 , we acquired pieps holding gmbh and its subsidiaries ( collectively , “ pieps ” ) . on august 14 , 2017 , the company changed its name from black diamond , inc. to clarus corporation and its stock ticker symbol from “ bde ” to “ clar ” on the nasdaq stock exchange . on august 21 , 2017 , the company acquired sierra bullets , l.l.c . ( “ sierra ” ) . on november 6 , 2018 , the company acquired the assets of skinourishment , inc. ( “ skinourishment ” ) . on may 7 , 2018 , the company announced a “ modified dutch auction ” tender offer for clarus ' common stock , as well as the preferred share purchase rights associated with such shares ( collectively , the “ shares ” ) . on july 11 , 2018 , the tender offer expired , following which the company announced it would accept 417,237 shares for purchase at a price of $ 8.00 per share , for an aggregate cost of approximately $ 3,338,000 , excluding fees and expenses . 28 on august 6 , 2018 , the company announced that its board of directors approved the initiation of a quarterly cash dividend program of $ 0.025 per share of the company 's common stock ( the “ quarterly cash dividend ” ) or $ 0.10 per share on an annualized basis . in 2019 and 2018 , our total quarterly cash dividends were $ 2,987,000 and $ 1,488,000 , respectively . on january 24 , 2020 , the company announced that its board of directors approved the payment on february 14 , 2020 of the quarterly cash dividend to the record holders of shares of the company 's common stock as of the close of business on february 3 , 2020. critical accounting policies and use of estimates management 's discussion of our financial condition and results of operations is based on the consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles ( “ gaap ” ) . the preparation of the consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the consolidated financial statements . estimates also affect the reported amounts of revenues and expenses during the reporting periods . we continually evaluate our estimates and assumptions including those related to derivatives , revenue recognition , income taxes and valuation of long-lived assets , goodwill and other intangible assets . we base our estimates on historical experience and other assumptions that are believed to be reasonable under the circumstances . actual results could differ from these estimates . we believe the following critical accounting policies include the more significant estimates and assumptions used in the preparation of our consolidated financial statements . our accounting policies are more fully described in note 1 of our consolidated financial statements . · we allocate the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values . the excess of the purchase price over these fair values is recorded as goodwill . we engage independent third-party valuation specialists to assist us in determining the fair values of certain assets acquired and liabilities assumed . such valuations require management to make significant estimates and assumptions , especially with respect to intangible assets . different valuations approaches are used to value different types of intangible assets . the income approach is a valuation technique that capitalizes anticipated income associated with the asset being valued . this approach is predicated on developing net income and cash flow projections which are discounted for risk and the time value of money . this approach is generally the principal approach to the valuation of most intangible assets . the market approach involves the compilation and analysis of recent acquisitions of similar assets in the open market . a fair value can be estimated after adjustments are made to reflect comparability differences between the assets sold and those being valued . this method of valuation applies primarily to the valuation of owned land and certain intangible assets . the cost approach estimates the amount that would be required to replace the service capacity of an asset ( often referred to as current replacement cost ) . we typically apply all three approaches to estimate the fair value of our tangible and intangible tangible assets depending on the type of asset acquired . significant estimates in valuing certain intangible assets include but are not limited to the projected financial information related to each individual asset , particularly forecasted revenue growth rates , market-based royalty rates and estimated discount rates . story_separator_special_tag 6,371 in incremental sales during the year ended december 31 , 2018. the remaining increase in international sales was attributable to the increase in the quantity of new and existing climb and mountain products sold during the period and an increase in sales of $ 2,799 due to the strengthening of foreign currencies against the u.s. dollar during the year ended december 31 , 2018 compared to the prior period . 33 cost of goods sold consolidated cost of goods sold increased $ 21,302 , or 18.2 % , to $ 138,179 during the year ended december 31 , 2018 , compared to consolidated cost of goods sold of $ 116,877 during the year ended december 31 , 2017. the increase in cost of goods sold was partially attributable to the inclusion of sierra , which contributed $ 14,382 in incremental cost of goods sold , which included $ 1,049 related to the sale of inventory that was recorded at fair value in purchase accounting . the remaining increase was attributable to an increase in the number of units sold and the mix of higher cost products sold . gross profit consolidated gross profit increased $ 20,152 or 37.5 % , to $ 73,962 during the year ended december 31 , 2018 , compared to consolidated gross profit of $ 53,810 during the year ended december 31 , 2017. consolidated gross margin was 34.9 % during the year ended december 31 , 2018 , compared to a consolidated gross margin of 31.5 % during the year ended december 31 , 2017. consolidated gross margin during the year ended december 31 , 2018 , increased compared to the prior year due to a favorable product mix in higher margin products and channel distribution . gross margin also benefited from the inclusion of sierra ; however , this benefit was partially offset by a decrease in gross margin of 0.5 % due to the sale of inventory that was recorded at its fair value in purchase accounting . consolidated gross margin during the year ended december 31 , 2017 was also negatively impacted by 1.2 % due to the sale of inventory that was recorded at its preliminary fair value in purchase accounting . selling , general and administrative consolidated selling , general , and administrative expenses increased $ 8,856 , or 15.7 % , to $ 65,151 during the year ended december 31 , 2018 , compared to consolidated selling , general and administrative expenses of $ 56,295 during the year ended december 31 , 2017. the increase in selling , general and administrative expenses was partially attributable to the inclusion of sierra of $ 4,504 in incremental selling , general , and administrative expenses . the remaining increase being attributable to the company 's investment in the brand related activities of sales , marketing , research and development , and fulfillment in supporting its strategic initiatives around new product introduction and increasing brand equity . stock compensation also increased $ 1,471 during the year ended december 31 , 2018 compared to the prior year . restructuring charges consolidated restructuring expense decreased $ 23 , or 14.4 % , to $ 137 during the year ended december 31 , 2018 , compared to consolidated restructuring expense of $ 160 during the year ended december 31 , 2017. restructuring expenses incurred during the year ended december 31 , 2018 , related to costs associated with the formal closure and liquidation of the company 's black diamond equipment manufacturing operations in zhuhai , china . merger and integration costs consolidated merger and integration expense decreased to $ 0 during the year ended december 31 , 2018 compared to consolidated merger and integration expense of $ 82 during the year ended december 31 , 2017 , which consisted of expenses related to the integration of sierra . transaction costs consolidated transaction expense decreased to $ 503 during the year ended december 31 , 2018 , compared to consolidated transaction costs of $ 2,088 during the year ended december 31 , 2017 , which consisted of expenses related to the company 's acquisition of sierra . interest expense , net consolidated interest expense , net increased $ 51 , or 4.0 % , to $ 1,339 during the year ended december 31 , 2018 , compared to consolidated interest expense , net , of $ 1,288 during the year ended december 31 , 2017. interest expense recognized during the year ended december 31 , 2018 was primarily attributable to the write-off of previously capitalized origination costs of $ 279 associated with our previous credit facility , which was replaced with the new credit agreement with jpmorgan chase bank , n.a . , and interest expense associated with the average outstanding debt amounts during the year ended december 31 , 2018. interest expense recognized during the year ended december 31 , 2017 was primarily attributable to the company 's 5 % senior subordinated notes which were repaid during the year ended december 31 , 2017. other , net consolidated other , net , decreased $ 702 , or 204.7 % , to expense of $ 359 during the year ended december 31 , 2018 , compared to consolidated other , net income of $ 343 during the year ended december 31 , 2017. the decrease in other , net , was primarily attributable to a decrease in remeasurement gains recognized on the company 's foreign denominated accounts receivable and accounts payable and losses related to recognition of cumulative translation adjustments due to the substantial liquidation of a foreign entity . this decrease was partially offset by gains on mark-to-market adjustments on non-hedged foreign currency contracts . 34 income taxes consolidated income tax benefit decreased $ 4,259 , or 83.7 % , to a benefit of $ 828 during the year ended december 31 , 2018 , compared to a consolidated income tax benefit of $ 5,087 during the same period in 2017. due to the tax

