for cautions about relying on such forward-looking statements , please refer to the section entitled “ forward-looking statements ” at the beginning of this annual report immediately prior to item 1. our actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors , including but not limited to those discussed in item 1a . risk factors and elsewhere in this annual report . ﻿ executive overview ﻿ consolidated revenue for 2016 was $ 5.0 billion compared to $ 4.9 billion for 2015 . the modest improvement was attributable to higher volume in our building segment , driven by various building projects primarily in california . ﻿ consolidated revenue for 2015 was $ 4.9 billion compared to $ 4.5 bi llion for 2014. the growth was driven by increased volume in our building and civil segments , with various building projects in california and two large mass-transit projects in new york being the largest contributors . ﻿ income from construction operations for 2016 was $ 201.9 million compared to $ 105.4 million for 2015 . the strong increase was primarily due to significantly improved operating performance in all segments . the prior year included various unfavorable adjustments , as discussed in the next paragraph . ﻿ income from construction operations for 2015 was $ 105.4 million compared to $ 241.7 million for 2014 . the decrease was primarily due to significant project charges recorded for various five star electric projects in new york in the specialty contractors segment , decreased activity on certain higher-margin civil projects , unfavorable adjustments related to the estimate of costs to complete an office building project in new york and the adverse brightwater litigation-related charge for a legacy civil project . ﻿ the effective tax rate was 35.7 % , 38.7 % and 42.4 % for 2016 , 2015 and 2014 , respectively . the 2016 rate was favorably impacted by rate changes associated with a shift in revenue mix between states affecting state apportionment , as well as various return-to-provision and deferred tax adjustments related to depreciation . the 2015 rate was favorably impacted by the resolution of certain state tax matters . the 2014 rate was unfavorably impacted by increased activity in higher state tax jurisdiction s and higher non-deductible compensation expense . ﻿ earnings per diluted share was $ 1.92 , $ 0.91 and $ 2.20 in 2016 , 2015 and 2014 , respectively . the strong earnings growth in 2016 was due to significantly improved operating performance in all segments , as discussed above . the primary reasons for the earnings decline in 2015 were the various above-mentioned unfavorable adjustments that impacted income from construction operations during that year . ﻿ cash flow from operations was $ 113.3 million in 2016 compared to $ 14.1 million in 2015 , and compared to a use of cash from operations of $ 56.7 million in 2014. the strong improvement in operating cash generation in 2016 was due to significant progress achieved on the company 's initiative to focus on cash flow and the reduction of unbilled costs through more timely project billings and collections , and resolution and subsequent invoicing of unapproved change orders and claims . in 2016 , f or the first time in eight years , the company 's cash flow from operations exceeded its net income for the year . ﻿ consolidated new awards in 2016 were $ 3.7 billion compared to $ 4.6 billion in 2015 and $ 5.4 billion in 2014 . the civil and building segments were the major contributor s of new awards during 2016. the building segment was the major contributor of new awards during 2015. new awards in 2014 were generally balanced across all three segments , with the building segment contributing a modestly higher volume . consolidated backlog was $ 6.2 billion , $ 7.5 billion and $ 7.8 billion as of december 31 , 2016 , 2015 and 2014 , respectively . the backlog at the end of 2016 was the result of revenue burn during the year that outpaced new awards in the building and specialty contractors segments , an d closely tracked new awar ds in the civil segment . as of december 31 , 2016 , the mix of backlog by segment was approximately 43 % , 32 % and 25 % for the civil , building and specialty contractors segments , respectively . the company was awarded a $ 1.4 billion joint-venture mass-transit project in january 2017 that the company will consolidate in its financial results starting in the first quarter of 2017. the backlog at the end of 2015 was primarily due to significant new awards in the building segment , partially offset by revenue burn that outpaced new award s in the civi l and specialty contracto r s segments . ﻿ 21 projects in the civil segment 's backlog typically convert to revenue over a period of three to five years , whereas projects for the building and specialty contractors segments typically convert to revenue over a period o f one to three years . we estimate that approximately $ 3.4 billion , or 54 % , of our backlog as of december 31 , 2016 will be recog nized as revenue in 2017 . ﻿ the following table presents the changes in backlog in 2016 : ﻿ ﻿ replace_table_token_17_th ( a ) new award s consist of the original contract price of projects added to our backlog plus or minus subsequent changes to the estimated total contract price of existing contracts . ﻿ the outlook for our company 's growth over the next several years is the most favorable it has been in many years , particularly in the civil segment . story_separator_special_tag ﻿ cash and working capital ﻿ cash and cash equivalents were $ 146.1 million as of december 31 , 2016 compared to $ 75.5 million as of december 31 , 2015. these were comprised of cash held by us and available for general corporate purposes of $ 49.5 million and $ 18.5 million , respectively , and our proportionate share of cash held by joint ven tures , available only for joint- venture-related uses including distribu tions to joint ‑venture partners of $ 96.6 million and $ 57.0 million , respectively . in addition , our restricted cash , held primarily to secure insurance-related contingent obligations , was $ 50.5 million as of december 31 , 2016 , compared to $ 45.9 million as of december 31 , 2015 . ﻿ during the year ended december 31 , 2016 , net cash provided by operating activities was $ 113.3 million ( $ 108.8 million of which was generated in the third and fourth quarters ) , due primarily to favorable operating results , somewhat offset by changes in net investment in working capital . the change in working capital primarily reflects increases in accounts receivable ( both trade accounts receivable and retention ) related to billing activity , offset by a reduction of costs and estimated earnings in excess of billings , which management is continuing to resolve and collect . in 2016 , f or the first time in eight years , the company 's cash flow from operations exceeded its net income for the year . during the year ended december 31 , 2015 , $ 14.1 million in cash was provided from operating activities , primarily due to cash generated from earnings sources being mostly offset by increased net investment in working capital . ﻿ the $ 99.3 million improvement in cash flow from operations for the year ended december 31 , 2016 compared to the year ended december 31 , 2015 is reflective of improved year-over-year profitability and lower net investment in working capital resulting from a significant reduction in costs and estimated earnings in excess of billings . the improvement in cash generation in 2016 compared to 25 2015 is even more pronounced when considering there were significant collections by the company in the first quarter of 2015 related to the settlements of past disputes over the citycenter project in las vegas , nevada and a hospital project in santa monica , california . ﻿ during 2016 , we used $ 18.5 million of cash from investing activities , due primarily to the acquisition of property and equipment , compared to the use of cash of $ 32.4 million for investing activities during 2015 , which was primarily related to the acquisition of property and equipment of $ 35.9 million , offset by $ 5.0 million in proceeds from the sale of property and equipment . ﻿ during 2016 , we utilized $ 24.2 million of cash from financing activities , primarily due to the net paydown of debt and the payment of $ 15.1 million in debt issuance costs associated with two amendments to the 2014 credit facility and the issuance of $ 200.0 million of convertible notes . the net proceeds from the convertible notes were used to prepay $ 125.0 million of the borrowings outstanding under our term loan , pay down $ 69.0 million of borrowings outstanding under our 2014 revolver and pay $ 6.0 million of fees related to the offering . net cash used in financing activities for 2015 was $ 41.8 million , which was primarily due to the pay down of debt under the 2014 credit facility . ﻿ as of december 31 , 2016 , we had working capital of $ 1.3 billion , a ratio of current assets to current liabilities of 1.87 and a ratio of debt to equity of 0.49 compared to worki ng capital of $ 1.2 billion , a ratio of current assets to current liabilities of 1 . 80 and a ratio of debt to equity of 0.58 at december 31 , 2015 . ﻿ story_separator_special_tag > ﻿ ﻿ ﻿ ﻿ twelve months ended december 31 , 2016 ﻿ actual required fixed charge coverage ratio 2.08 : 1.00 > or = 1.25 : 1.00 leverage ratio 2.79 : 1.00 < or = 3.25 : 1.00 ﻿ as of the filing date of this form 10-k we are in compliance and expect to continue to be in compliance with the financial covenants under the 2014 credit facility . ﻿ 2010 senior notes ﻿ in october 2010 , the company issued $ 300 million of 7.625 % senior notes due november 1 , 2018 , ( the “ 2010 notes ” ) in a private placement offering . interest on the 2010 notes is payable semi-annually on may 1 and november 1 of each year . the company may redeem the 2010 notes at par beginning on november 1 , 2016 , which was not ex ercised as of december 31 , 2016. at the date of any redemption , any accrued and unpaid interest would also be due . ﻿ convertible notes ﻿ on june 15 , 2016 , we completed an offering of $ 200 million of 2.875 % convertible senior notes due june 15 , 2021 ( the “ convertible notes ” ) . the convertible notes are senior unsecured obligations of the company . interest on the convertible notes is payable on june 15 and december 15 of each year , commencing on december 15 , 2016 , until the maturity date . we used the proceeds to prepay $ 125.0 million of our term loan , pay down $ 69.0 million of our 2014 revolver , and pay $ 6.0 million of fees related to the offering . for additional information regarding the terms of our convertible notes , refer to note 5 of the notes to consolidated financial statements . as of december 31 , 2016

debt ﻿ 2014 credit facility ﻿ under our 2014 revolver , we had outstanding borro wings of $ 152.5 million as of december 31 , 2016 and $ 158.0 million as of december 31 , 2015. the 2014 revolver balances reported on the consolidated balance sheets as of december 31 , 2016 and 2015 include unamortized debt issuance cost of $ 4.5 million and $ 2.2 million , respectively . we utilized the 2014 revolver for letters of credit in the amount of $ 0.2 million as of december 31 , 2016 and 2015 , respectively . ﻿ on june 5 , 2014 , the company entered into a sixth amended and restated credit agreement ( the “ original facility , ” with subsequent amendments discussed herein , the “ 2014 credit facility ” ) , with bank of america , n.a . as administrative agent , swing line lender and l/c issuer and a syndicate of other lenders . the 2014 credit facility provides for a $ 300 million revolving credit facility ( the “ 2014 revolver ” ) , a $ 250 million term loan ( the “ term loan ” ) and a sublimit for the issuance of letters of credit up to the aggregate amount of $ 150 million , all maturing on may 1 , 2018. borrowings under both the 2014 revolver and the term loan bear interest based either on bank of america 's prime lending rate or the london interbank offered rate ( “ libor ” ) , each plus an applicable margin ranging from 1.25 % to 3.00 % contingent upon the lat est consolidated leverage ratio . ﻿ during the first half of 2016 , the company entered into two amendments to the original facility ( the “ amendments ” ) : waiver and amendment no . 1 , entered into on february 26 , 2016 ( “ amendment no . 1 ” ) , and consent and amendment no . 2 , entered into on june 8 , 2016 ( “ amendment no . 2 ” ) . in amendment no . 1 , the lenders waived the company 's violation of its consolidated leverage ratio covenant and consolidated fixed charge coverage ratio covenant .


 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.
     ```debt ﻿ 2014 credit facility ﻿ under our 2014 revolver , we had outstanding borro wings of $ 152.5 million as of december 31 , 2016 and $ 158.0 million as of december 31 , 2015. the 2014 revolver balances reported on the consolidated balance sheets as of december 31 , 2016 and 2015 include unamortized debt issuance cost of $ 4.5 million and $ 2.2 million , respectively . we utilized the 2014 revolver for letters of credit in the amount of $ 0.2 million as of december 31 , 2016 and 2015 , respectively . ﻿ on june 5 , 2014 , the company entered into a sixth amended and restated credit agreement ( the “ original facility , ” with subsequent amendments discussed herein , the “ 2014 credit facility ” ) , with bank of america , n.a . as administrative agent , swing line lender and l/c issuer and a syndicate of other lenders . the 2014 credit facility provides for a $ 300 million revolving credit facility ( the “ 2014 revolver ” ) , a $ 250 million term loan ( the “ term loan ” ) and a sublimit for the issuance of letters of credit up to the aggregate amount of $ 150 million , all maturing on may 1 , 2018. borrowings under both the 2014 revolver and the term loan bear interest based either on bank of america 's prime lending rate or the london interbank offered rate ( “ libor ” ) , each plus an applicable margin ranging from 1.25 % to 3.00 % contingent upon the lat est consolidated leverage ratio . ﻿ during the first half of 2016 , the company entered into two amendments to the original facility ( the “ amendments ” ) : waiver and amendment no . 1 , entered into on february 26 , 2016 ( “ amendment no . 1 ” ) , and consent and amendment no . 2 , entered into on june 8 , 2016 ( “ amendment no . 2 ” ) . in amendment no . 1 , the lenders waived the company 's violation of its consolidated leverage ratio covenant and consolidated fixed charge coverage ratio covenant .
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 Suspicious Activity Report : for cautions about relying on such forward-looking statements , please refer to the section entitled “ forward-looking statements ” at the beginning of this annual report immediately prior to item 1. our actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors , including but not limited to those discussed in item 1a . risk factors and elsewhere in this annual report . ﻿ executive overview ﻿ consolidated revenue for 2016 was $ 5.0 billion compared to $ 4.9 billion for 2015 . the modest improvement was attributable to higher volume in our building segment , driven by various building projects primarily in california . ﻿ consolidated revenue for 2015 was $ 4.9 billion compared to $ 4.5 bi llion for 2014. the growth was driven by increased volume in our building and civil segments , with various building projects in california and two large mass-transit projects in new york being the largest contributors . ﻿ income from construction operations for 2016 was $ 201.9 million compared to $ 105.4 million for 2015 . the strong increase was primarily due to significantly improved operating performance in all segments . the prior year included various unfavorable adjustments , as discussed in the next paragraph . ﻿ income from construction operations for 2015 was $ 105.4 million compared to $ 241.7 million for 2014 . the decrease was primarily due to significant project charges recorded for various five star electric projects in new york in the specialty contractors segment , decreased activity on certain higher-margin civil projects , unfavorable adjustments related to the estimate of costs to complete an office building project in new york and the adverse brightwater litigation-related charge for a legacy civil project . ﻿ the effective tax rate was 35.7 % , 38.7 % and 42.4 % for 2016 , 2015 and 2014 , respectively . the 2016 rate was favorably impacted by rate changes associated with a shift in revenue mix between states affecting state apportionment , as well as various return-to-provision and deferred tax adjustments related to depreciation . the 2015 rate was favorably impacted by the resolution of certain state tax matters . the 2014 rate was unfavorably impacted by increased activity in higher state tax jurisdiction s and higher non-deductible compensation expense . ﻿ earnings per diluted share was $ 1.92 , $ 0.91 and $ 2.20 in 2016 , 2015 and 2014 , respectively . the strong earnings growth in 2016 was due to significantly improved operating performance in all segments , as discussed above . the primary reasons for the earnings decline in 2015 were the various above-mentioned unfavorable adjustments that impacted income from construction operations during that year . ﻿ cash flow from operations was $ 113.3 million in 2016 compared to $ 14.1 million in 2015 , and compared to a use of cash from operations of $ 56.7 million in 2014. the strong improvement in operating cash generation in 2016 was due to significant progress achieved on the company 's initiative to focus on cash flow and the reduction of unbilled costs through more timely project billings and collections , and resolution and subsequent invoicing of unapproved change orders and claims . in 2016 , f or the first time in eight years , the company 's cash flow from operations exceeded its net income for the year . ﻿ consolidated new awards in 2016 were $ 3.7 billion compared to $ 4.6 billion in 2015 and $ 5.4 billion in 2014 . the civil and building segments were the major contributor s of new awards during 2016. the building segment was the major contributor of new awards during 2015. new awards in 2014 were generally balanced across all three segments , with the building segment contributing a modestly higher volume . consolidated backlog was $ 6.2 billion , $ 7.5 billion and $ 7.8 billion as of december 31 , 2016 , 2015 and 2014 , respectively . the backlog at the end of 2016 was the result of revenue burn during the year that outpaced new awards in the building and specialty contractors segments , an d closely tracked new awar ds in the civil segment . as of december 31 , 2016 , the mix of backlog by segment was approximately 43 % , 32 % and 25 % for the civil , building and specialty contractors segments , respectively . the company was awarded a $ 1.4 billion joint-venture mass-transit project in january 2017 that the company will consolidate in its financial results starting in the first quarter of 2017. the backlog at the end of 2015 was primarily due to significant new awards in the building segment , partially offset by revenue burn that outpaced new award s in the civi l and specialty contracto r s segments . ﻿ 21 projects in the civil segment 's backlog typically convert to revenue over a period of three to five years , whereas projects for the building and specialty contractors segments typically convert to revenue over a period o f one to three years . we estimate that approximately $ 3.4 billion , or 54 % , of our backlog as of december 31 , 2016 will be recog nized as revenue in 2017 . ﻿ the following table presents the changes in backlog in 2016 : ﻿ ﻿ replace_table_token_17_th ( a ) new award s consist of the original contract price of projects added to our backlog plus or minus subsequent changes to the estimated total contract price of existing contracts . ﻿ the outlook for our company 's growth over the next several years is the most favorable it has been in many years , particularly in the civil segment . story_separator_special_tag ﻿ cash and working capital ﻿ cash and cash equivalents were $ 146.1 million as of december 31 , 2016 compared to $ 75.5 million as of december 31 , 2015. these were comprised of cash held by us and available for general corporate purposes of $ 49.5 million and $ 18.5 million , respectively , and our proportionate share of cash held by joint ven tures , available only for joint- venture-related uses including distribu tions to joint ‑venture partners of $ 96.6 million and $ 57.0 million , respectively . in addition , our restricted cash , held primarily to secure insurance-related contingent obligations , was $ 50.5 million as of december 31 , 2016 , compared to $ 45.9 million as of december 31 , 2015 . ﻿ during the year ended december 31 , 2016 , net cash provided by operating activities was $ 113.3 million ( $ 108.8 million of which was generated in the third and fourth quarters ) , due primarily to favorable operating results , somewhat offset by changes in net investment in working capital . the change in working capital primarily reflects increases in accounts receivable ( both trade accounts receivable and retention ) related to billing activity , offset by a reduction of costs and estimated earnings in excess of billings , which management is continuing to resolve and collect . in 2016 , f or the first time in eight years , the company 's cash flow from operations exceeded its net income for the year . during the year ended december 31 , 2015 , $ 14.1 million in cash was provided from operating activities , primarily due to cash generated from earnings sources being mostly offset by increased net investment in working capital . ﻿ the $ 99.3 million improvement in cash flow from operations for the year ended december 31 , 2016 compared to the year ended december 31 , 2015 is reflective of improved year-over-year profitability and lower net investment in working capital resulting from a significant reduction in costs and estimated earnings in excess of billings . the improvement in cash generation in 2016 compared to 25 2015 is even more pronounced when considering there were significant collections by the company in the first quarter of 2015 related to the settlements of past disputes over the citycenter project in las vegas , nevada and a hospital project in santa monica , california . ﻿ during 2016 , we used $ 18.5 million of cash from investing activities , due primarily to the acquisition of property and equipment , compared to the use of cash of $ 32.4 million for investing activities during 2015 , which was primarily related to the acquisition of property and equipment of $ 35.9 million , offset by $ 5.0 million in proceeds from the sale of property and equipment . ﻿ during 2016 , we utilized $ 24.2 million of cash from financing activities , primarily due to the net paydown of debt and the payment of $ 15.1 million in debt issuance costs associated with two amendments to the 2014 credit facility and the issuance of $ 200.0 million of convertible notes . the net proceeds from the convertible notes were used to prepay $ 125.0 million of the borrowings outstanding under our term loan , pay down $ 69.0 million of borrowings outstanding under our 2014 revolver and pay $ 6.0 million of fees related to the offering . net cash used in financing activities for 2015 was $ 41.8 million , which was primarily due to the pay down of debt under the 2014 credit facility . ﻿ as of december 31 , 2016 , we had working capital of $ 1.3 billion , a ratio of current assets to current liabilities of 1.87 and a ratio of debt to equity of 0.49 compared to worki ng capital of $ 1.2 billion , a ratio of current assets to current liabilities of 1 . 80 and a ratio of debt to equity of 0.58 at december 31 , 2015 . ﻿ story_separator_special_tag > ﻿ ﻿ ﻿ ﻿ twelve months ended december 31 , 2016 ﻿ actual required fixed charge coverage ratio 2.08 : 1.00 > or = 1.25 : 1.00 leverage ratio 2.79 : 1.00 < or = 3.25 : 1.00 ﻿ as of the filing date of this form 10-k we are in compliance and expect to continue to be in compliance with the financial covenants under the 2014 credit facility . ﻿ 2010 senior notes ﻿ in october 2010 , the company issued $ 300 million of 7.625 % senior notes due november 1 , 2018 , ( the “ 2010 notes ” ) in a private placement offering . interest on the 2010 notes is payable semi-annually on may 1 and november 1 of each year . the company may redeem the 2010 notes at par beginning on november 1 , 2016 , which was not ex ercised as of december 31 , 2016. at the date of any redemption , any accrued and unpaid interest would also be due . ﻿ convertible notes ﻿ on june 15 , 2016 , we completed an offering of $ 200 million of 2.875 % convertible senior notes due june 15 , 2021 ( the “ convertible notes ” ) . the convertible notes are senior unsecured obligations of the company . interest on the convertible notes is payable on june 15 and december 15 of each year , commencing on december 15 , 2016 , until the maturity date . we used the proceeds to prepay $ 125.0 million of our term loan , pay down $ 69.0 million of our 2014 revolver , and pay $ 6.0 million of fees related to the offering . for additional information regarding the terms of our convertible notes , refer to note 5 of the notes to consolidated financial statements . as of december 31 , 2016

