as a result , our total revenue has tended to experience quarterly variations and our total revenue for any particular quarter may not be indicative of future results . we use the term “ organic sales `` to refer to sales from existing operations excluding ( i ) sales from acquired businesses recorded prior to the first anniversary of the acquisition less the amount of sales attributable to any divested businesses ( “ acquisition sales ” ) , and ( ii ) the impact of foreign currency translation . the impact of foreign currency translation is determined by translating the respective period 's sales ( excluding acquisition sales ) using the same currency exchange rates that were in effect during the prior year periods . we use the term “ organic sales growth ” to refer to the increase in our sales between periods that is attributable to organic sales . we use the term “ acquisition growth ” to refer to the increase in our sales between periods that is attributable to acquisition sales . 25 gross profit . our gross profit is impacted by our levels of net sales and cost of sales . our cost of sales consists of costs for , among other things ( i ) raw materials , including copper , steel and aluminum ; ( ii ) components such as castings , bars , tools , bearings and electronics ; ( iii ) wages and related personnel expenses for fabrication , assembly and logistics personnel ; ( iv ) manufacturing facilities , including depreciation on our manufacturing facilities and equipment , taxes , insurance and utilities ; and ( v ) shipping . the majority of our cost of sales consists of raw materials and components . the price we pay for commodities and components can be subject to commodity price fluctuations . we attempt to mitigate this through fixed-price agreements with suppliers and our hedging strategies . we are currently reducing the number of our suppliers we use in order to leverage the better prices and terms that can be obtained with higher volume orders . a large amount of our suppliers are in north america . as we expand production and our geographic footprint , we expect it may be advantageous to increase our use of foreign suppliers . when we experience commodity price increases , we have tended to announce price increases to our customers who purchase via purchase order , with such increases generally taking effect a period of time after the public announcements . for those sales we make under long-term arrangements , we tend to include material price formulas that specify quarterly or semi-annual price adjustments based on a variety of factors , including commodity prices . outside of general economic cyclicality , our different business units experience different levels of variation in gross profit from quarter to quarter based on factors specific to each division . for example , a portion of our climate solutions segment manufactures products that are used in air conditioning applications . as a result , our sales for that business tend to be lower in the first and fourth quarters and higher in the second and third quarters . in contrast , our commercial and industrial systems segment and our power transmission solutions segment have a broad customer base and a variety of applications , thereby helping to mitigate large quarter-to-quarter fluctuations outside of general economic conditions . operating expenses . our operating expenses consist primarily of ( i ) general and administrative expenses ; ( ii ) sales and marketing expenses ; ( iii ) general engineering and research and development expenses ; and ( iv ) handling costs incurred in conjunction with distribution activities . personnel related costs are our largest operating expense . our general and administrative expenses consist primarily of costs for ( i ) salaries , benefits and other personnel expenses related to our executive , finance , human resource , information technology , legal and operations functions ; ( ii ) occupancy expenses ; ( iii ) technology related costs ; ( iv ) depreciation and amortization ; and ( v ) corporate-related travel . the majority of our general and administrative costs are for salaries and related personnel expenses . these costs can vary by division given the location of our different manufacturing operations . our sales and marketing expenses consist primarily of costs for ( i ) salaries , benefits and other personnel expenses related to our sales and marketing function ; ( ii ) internal and external sales commissions and bonuses ; ( iii ) travel , lodging and other out-of-pocket expenses associated with our selling efforts ; and ( iv ) other related overhead . our general engineering and research and development expenses consist primarily of costs for ( i ) salaries , benefits and other personnel expenses ; ( ii ) the design and development of new energy efficiency products and enhancements ; ( iii ) quality assurance and testing ; and ( iv ) other related overhead . our research and development efforts tend to be targeted toward developing new products that would allow us to maintain or gain additional market share , whether in new or existing applications . while these costs make up an insignificant portion of our operating expenses in the power transmission solutions segment , they are more substantial in our commercial and industrial systems and climate solutions segments . in particular , a large driver of our research and development efforts in these two segments is energy efficiency , which generally means using less electrical power to produce more mechanical power . goodwill & other asset impairments . story_separator_special_tag we pay a non-use fee on the aggregate unused amount of the multicurrency revolving facility at a rate determined by reference to its consolidated funded debt to consolidated ebitda ratio . senior notes at december 30 , 2017 , we had $ 500.0 million of unsecured senior notes ( the “ notes ” ) outstanding . the notes consist of $ 500.0 million in senior notes ( the “ 2011 notes ” ) in a private placement which were issued in seven tranches with maturities from seven to twelve years and carry fixed interest rates . as of december 30 , 2017 , $ 400.0 million of the 2011 notes are included in long-term debt and $ 100.0 million of the 2011 notes are included in current maturities of long-term debt on the consolidated balance sheets . we repaid the remaining $ 100.0 million of the 2007 notes in august 2017. details on the notes at december 30 , 2017 were ( in millions ) : replace_table_token_9_th compliance with financial covenants the credit agreement and the notes require us to meet specified financial ratios and to satisfy certain financial condition tests . we were in compliance with all financial covenants contained in the notes and the credit agreement as of december 30 , 2017 . other notes payable 31 at december 30 , 2017 , other notes payable of $ 5.7 million were outstanding with a weighted average interest rate of 5.7 % . at december 31 , 2016 , other notes payable of $ 5.1 million were outstanding with a weighted average rate of 5.6 % . based on rates for instruments with comparable maturities and credit quality . the approximate fair value of our total debt was $ 1,165.4 million and $ 1,433.4 million as of december 30 , 2017 and december 31 , 2016 , respectively . litigation one of our subsidiaries that we acquired in 2007 is subject to numerous claims filed in various jurisdictions relating to certain sub-fractional motors that were primarily manufactured through 2004 and that were included as components of residential and commercial ventilation units manufactured and sold in high volumes by a third party . these ventilation units are subject to product safety requirements and other potential regulation of their performance by government agencies such as the us consumer product safety commission ( “ cpsc ” ) . the claims generally allege that the ventilation units were the cause of fires . we have recorded an estimated liability for incurred claims . based on the current facts , we can not assure that these claims , individually or in the aggregate , will not have a material adverse effect on its subsidiary 's financial condition . our subsidiary can not reasonably predict the outcome of these claims , the nature or extent of any cpsc or other remedial actions , if any , that our subsidiary may need to undertake with respect to motors that remain in the field , or the costs that may be incurred , some of which could be significant . we are from time to time , party to litigation and other legal or regulatory proceedings that arise in the normal course of our business operations and the outcomes of which are subject to significant uncertainty , including product warranty and liability claims , contract disputes and environmental , asbestos , intellectual property , employment and other litigation matters . our products are used in a variety of industrial , commercial and residential applications that subject us to claims that the use of our products is alleged to have resulted in injury or other damage . many of these matters will only be resolved when one or more future events occur or fail to occur . our management conducts regular reviews , including updates from legal counsel , to assess the need for accounting recognition or disclosure of these contingencies , and such assessment inherently involves an exercise in judgment . we accrue for exposures in amounts that we believe are adequate , and we do not believe that the outcome of any such lawsuit individually or collectively will have a material effect on our financial position , results of operations or cash flows . off-balance sheet arrangements , contractual obligations and commercial commitments the following is a summary of our contractual obligations and payments due by period as of december 30 , 2017 ( in millions ) : replace_table_token_10_th ( 1 ) the timing and future spot prices affect the settlement values of our hedge obligations related to commodities and currency exchange rates . accordingly , these obligations are not included above in the table of contractual obligations ( see also item 7a and note 13 of notes to the consolidated financial statements ) . the timing of settlement of our tax contingent liabilities can not be reasonably determined and they are not included above in the table of contractual obligations . the one-time mandatory transition tax on undistributed earnings of foreign affiliates , which is payable over eight years pursuant to the timeline outlined in the act , is a provisional estimate and therefore the related payments are not included in the above table of contractual obligations . future pension obligation payments after fiscal 2017 are subject to revaluation based on changes in the benefit population and or changes in the value of pension assets based on market conditions that are not determinable as of december 30 , 2017 . ( 2 ) variable rate debt based on december 30 , 2017 rates . see also note 7 of notes to the consolidated financial statements . we utilize blanket purchase orders ( “ blankets ” ) to communicate expected annual requirements to many of our suppliers . requirements under blankets generally do not become “ firm ” until a varying number of weeks before our scheduled production . the purchase obligations shown in the above table represent the value we consider “ firm . ”

liquidity and capital resources general our principal source of liquidity is cash flow provided by operating activities . in addition to operating income , other significant factors affecting our cash flows include working capital levels , capital expenditures , dividends , share repurchases , acquisitions , and divestitures , availability of debt financing , and the ability to attract long-term capital at acceptable terms . cash flow provided by operating activities was $ 291.9 million for fiscal 2017 , a $ 150.4 million decrease from fiscal 2016. the decrease was primarily the result of the higher investment in inventory in fiscal 2017. cash flow provided by operating activities was $ 442.3 million for fiscal 2016 , a $ 58.0 million increase from fiscal 2015. the increase was primarily the result of the lower investment in net working capital driven by the planned reduction in inventory during fiscal 2016. cash flow used in investing activities was $ 57.8 million for fiscal 2017 , compared to $ 19.6 million used in fiscal 2016. the change was driven primarily by the $ 24.6 million received for the sale of our mastergear business in 2016. the proceeds from the sale of mastergear were used to reduce debt obligations . capital expenditures were $ 65.2 million both in fiscal 2017 and in fiscal 2016. cash flow used in investing activities was $ 19.6 million for fiscal 2016 , compared to $ 1.5 billion used in fiscal 2015. the change was driven by the purchase of pts for $ 1.4 billion , net of cash acquired , in fiscal 2015 versus the $ 24.6 million received for the sale of our mastergear business in 2016. the proceeds from the sale of mastergear were used to reduce debt obligations . capital expenditures were $ 65.2


 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 general our principal source of liquidity is cash flow provided by operating activities . in addition to operating income , other significant factors affecting our cash flows include working capital levels , capital expenditures , dividends , share repurchases , acquisitions , and divestitures , availability of debt financing , and the ability to attract long-term capital at acceptable terms . cash flow provided by operating activities was $ 291.9 million for fiscal 2017 , a $ 150.4 million decrease from fiscal 2016. the decrease was primarily the result of the higher investment in inventory in fiscal 2017. cash flow provided by operating activities was $ 442.3 million for fiscal 2016 , a $ 58.0 million increase from fiscal 2015. the increase was primarily the result of the lower investment in net working capital driven by the planned reduction in inventory during fiscal 2016. cash flow used in investing activities was $ 57.8 million for fiscal 2017 , compared to $ 19.6 million used in fiscal 2016. the change was driven primarily by the $ 24.6 million received for the sale of our mastergear business in 2016. the proceeds from the sale of mastergear were used to reduce debt obligations . capital expenditures were $ 65.2 million both in fiscal 2017 and in fiscal 2016. cash flow used in investing activities was $ 19.6 million for fiscal 2016 , compared to $ 1.5 billion used in fiscal 2015. the change was driven by the purchase of pts for $ 1.4 billion , net of cash acquired , in fiscal 2015 versus the $ 24.6 million received for the sale of our mastergear business in 2016. the proceeds from the sale of mastergear were used to reduce debt obligations . capital expenditures were $ 65.2
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 Suspicious Activity Report : as a result , our total revenue has tended to experience quarterly variations and our total revenue for any particular quarter may not be indicative of future results . we use the term “ organic sales `` to refer to sales from existing operations excluding ( i ) sales from acquired businesses recorded prior to the first anniversary of the acquisition less the amount of sales attributable to any divested businesses ( “ acquisition sales ” ) , and ( ii ) the impact of foreign currency translation . the impact of foreign currency translation is determined by translating the respective period 's sales ( excluding acquisition sales ) using the same currency exchange rates that were in effect during the prior year periods . we use the term “ organic sales growth ” to refer to the increase in our sales between periods that is attributable to organic sales . we use the term “ acquisition growth ” to refer to the increase in our sales between periods that is attributable to acquisition sales . 25 gross profit . our gross profit is impacted by our levels of net sales and cost of sales . our cost of sales consists of costs for , among other things ( i ) raw materials , including copper , steel and aluminum ; ( ii ) components such as castings , bars , tools , bearings and electronics ; ( iii ) wages and related personnel expenses for fabrication , assembly and logistics personnel ; ( iv ) manufacturing facilities , including depreciation on our manufacturing facilities and equipment , taxes , insurance and utilities ; and ( v ) shipping . the majority of our cost of sales consists of raw materials and components . the price we pay for commodities and components can be subject to commodity price fluctuations . we attempt to mitigate this through fixed-price agreements with suppliers and our hedging strategies . we are currently reducing the number of our suppliers we use in order to leverage the better prices and terms that can be obtained with higher volume orders . a large amount of our suppliers are in north america . as we expand production and our geographic footprint , we expect it may be advantageous to increase our use of foreign suppliers . when we experience commodity price increases , we have tended to announce price increases to our customers who purchase via purchase order , with such increases generally taking effect a period of time after the public announcements . for those sales we make under long-term arrangements , we tend to include material price formulas that specify quarterly or semi-annual price adjustments based on a variety of factors , including commodity prices . outside of general economic cyclicality , our different business units experience different levels of variation in gross profit from quarter to quarter based on factors specific to each division . for example , a portion of our climate solutions segment manufactures products that are used in air conditioning applications . as a result , our sales for that business tend to be lower in the first and fourth quarters and higher in the second and third quarters . in contrast , our commercial and industrial systems segment and our power transmission solutions segment have a broad customer base and a variety of applications , thereby helping to mitigate large quarter-to-quarter fluctuations outside of general economic conditions . operating expenses . our operating expenses consist primarily of ( i ) general and administrative expenses ; ( ii ) sales and marketing expenses ; ( iii ) general engineering and research and development expenses ; and ( iv ) handling costs incurred in conjunction with distribution activities . personnel related costs are our largest operating expense . our general and administrative expenses consist primarily of costs for ( i ) salaries , benefits and other personnel expenses related to our executive , finance , human resource , information technology , legal and operations functions ; ( ii ) occupancy expenses ; ( iii ) technology related costs ; ( iv ) depreciation and amortization ; and ( v ) corporate-related travel . the majority of our general and administrative costs are for salaries and related personnel expenses . these costs can vary by division given the location of our different manufacturing operations . our sales and marketing expenses consist primarily of costs for ( i ) salaries , benefits and other personnel expenses related to our sales and marketing function ; ( ii ) internal and external sales commissions and bonuses ; ( iii ) travel , lodging and other out-of-pocket expenses associated with our selling efforts ; and ( iv ) other related overhead . our general engineering and research and development expenses consist primarily of costs for ( i ) salaries , benefits and other personnel expenses ; ( ii ) the design and development of new energy efficiency products and enhancements ; ( iii ) quality assurance and testing ; and ( iv ) other related overhead . our research and development efforts tend to be targeted toward developing new products that would allow us to maintain or gain additional market share , whether in new or existing applications . while these costs make up an insignificant portion of our operating expenses in the power transmission solutions segment , they are more substantial in our commercial and industrial systems and climate solutions segments . in particular , a large driver of our research and development efforts in these two segments is energy efficiency , which generally means using less electrical power to produce more mechanical power . goodwill & other asset impairments . story_separator_special_tag we pay a non-use fee on the aggregate unused amount of the multicurrency revolving facility at a rate determined by reference to its consolidated funded debt to consolidated ebitda ratio . senior notes at december 30 , 2017 , we had $ 500.0 million of unsecured senior notes ( the “ notes ” ) outstanding . the notes consist of $ 500.0 million in senior notes ( the “ 2011 notes ” ) in a private placement which were issued in seven tranches with maturities from seven to twelve years and carry fixed interest rates . as of december 30 , 2017 , $ 400.0 million of the 2011 notes are included in long-term debt and $ 100.0 million of the 2011 notes are included in current maturities of long-term debt on the consolidated balance sheets . we repaid the remaining $ 100.0 million of the 2007 notes in august 2017. details on the notes at december 30 , 2017 were ( in millions ) : replace_table_token_9_th compliance with financial covenants the credit agreement and the notes require us to meet specified financial ratios and to satisfy certain financial condition tests . we were in compliance with all financial covenants contained in the notes and the credit agreement as of december 30 , 2017 . other notes payable 31 at december 30 , 2017 , other notes payable of $ 5.7 million were outstanding with a weighted average interest rate of 5.7 % . at december 31 , 2016 , other notes payable of $ 5.1 million were outstanding with a weighted average rate of 5.6 % . based on rates for instruments with comparable maturities and credit quality . the approximate fair value of our total debt was $ 1,165.4 million and $ 1,433.4 million as of december 30 , 2017 and december 31 , 2016 , respectively . litigation one of our subsidiaries that we acquired in 2007 is subject to numerous claims filed in various jurisdictions relating to certain sub-fractional motors that were primarily manufactured through 2004 and that were included as components of residential and commercial ventilation units manufactured and sold in high volumes by a third party . these ventilation units are subject to product safety requirements and other potential regulation of their performance by government agencies such as the us consumer product safety commission ( “ cpsc ” ) . the claims generally allege that the ventilation units were the cause of fires . we have recorded an estimated liability for incurred claims . based on the current facts , we can not assure that these claims , individually or in the aggregate , will not have a material adverse effect on its subsidiary 's financial condition . our subsidiary can not reasonably predict the outcome of these claims , the nature or extent of any cpsc or other remedial actions , if any , that our subsidiary may need to undertake with respect to motors that remain in the field , or the costs that may be incurred , some of which could be significant . we are from time to time , party to litigation and other legal or regulatory proceedings that arise in the normal course of our business operations and the outcomes of which are subject to significant uncertainty , including product warranty and liability claims , contract disputes and environmental , asbestos , intellectual property , employment and other litigation matters . our products are used in a variety of industrial , commercial and residential applications that subject us to claims that the use of our products is alleged to have resulted in injury or other damage . many of these matters will only be resolved when one or more future events occur or fail to occur . our management conducts regular reviews , including updates from legal counsel , to assess the need for accounting recognition or disclosure of these contingencies , and such assessment inherently involves an exercise in judgment . we accrue for exposures in amounts that we believe are adequate , and we do not believe that the outcome of any such lawsuit individually or collectively will have a material effect on our financial position , results of operations or cash flows . off-balance sheet arrangements , contractual obligations and commercial commitments the following is a summary of our contractual obligations and payments due by period as of december 30 , 2017 ( in millions ) : replace_table_token_10_th ( 1 ) the timing and future spot prices affect the settlement values of our hedge obligations related to commodities and currency exchange rates . accordingly , these obligations are not included above in the table of contractual obligations ( see also item 7a and note 13 of notes to the consolidated financial statements ) . the timing of settlement of our tax contingent liabilities can not be reasonably determined and they are not included above in the table of contractual obligations . the one-time mandatory transition tax on undistributed earnings of foreign affiliates , which is payable over eight years pursuant to the timeline outlined in the act , is a provisional estimate and therefore the related payments are not included in the above table of contractual obligations . future pension obligation payments after fiscal 2017 are subject to revaluation based on changes in the benefit population and or changes in the value of pension assets based on market conditions that are not determinable as of december 30 , 2017 . ( 2 ) variable rate debt based on december 30 , 2017 rates . see also note 7 of notes to the consolidated financial statements . we utilize blanket purchase orders ( “ blankets ” ) to communicate expected annual requirements to many of our suppliers . requirements under blankets generally do not become “ firm ” until a varying number of weeks before our scheduled production . the purchase obligations shown in the above table represent the value we consider “ firm . ”

