foreign currency exchange rates although we report our results in accordance with u.s. gaap and in u.s. dollars , ptl and bemag are canadian operations whose functional currency is the canadian dollar . as such , the financial position , results of operations , cash flows and equity of these operations are initially consolidated in canadian dollars . their assets and liabilities are then translated from canadian dollars to u.s. dollars by applying the foreign currency exchange rate in effect at the balance sheet date , while the results of their operations and cash flows are translated to u.s. dollars by applying weighted average foreign currency exchange rates in effect during the reporting period . the resulting translation adjustments are included in other comprehensive income or loss . the following table provides actual end of period exchange rates used to translate the financial position of our canadian operations at the end of each period reported . the average exchange rates presented below , as provided by the bank of canada , are indicative of the weighted average rates we used to translate the revenues and expenses of our canadian operations into u.s. dollars ( rates expressed as the number of u.s. dollars to one canadian dollar for each period reported ) : replace_table_token_2_th critical accounting policies use of estimates . the preparation of financial statements in accordance with generally accepted accounting principles in the u.s. requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period . the financial statements include estimates based on currently available information and our judgment as to the outcome of future conditions and circumstances . significant estimates in these financial statements include pension expense , inventory provisions , useful lives and impairment of long-lived assets , warranty accruals , income tax provision , goodwill impairment analysis , stock-based compensation , allowance for doubtful accounts and estimates related to purchase price allocation . changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the financial statements and actual results could differ from the estimates and assumptions . 23 revenue recognition . revenue is recognized when ( 1 ) a contract with a customer exists , ( 2 ) performance obligations promised in a contract are identified based on the products or services that will be transferred to the customer , ( 3 ) the transaction price is determined based on the consideration to which the company will be entitled in exchange for transferring products or services to the customer , ( 4 ) the transaction price is allocated to the performance obligations in the contract and ( 5 ) the company satisfies performance obligations . substantially all of our revenue is recognized at a point of time , as the promised product passes to the customer . service revenues include maintenance contracts that are recognized over time based on the contract term and repair services which are recognized as services are delivered . inventories . we value inventories at the lower of cost or net realizable value . if a write down to the current market value is necessary , the market value can not be greater than the net realizable value , which is defined as selling price less costs to complete and dispose , and can not be lower than the net realizable value less a normal profit margin . we also continually evaluate the composition of our inventory and identify obsolete , slow-moving and excess inventories . inventory items identified as obsolete , slow-moving or excess are evaluated to determine if reserves are required . if we were not able to achieve our expectations of the net realizable value of the inventory at current market value , we would have to adjust our reserves accordingly . we attempt to accurately estimate future product demand to properly adjust inventory levels for our standard products . however , significant unanticipated changes in demand could have a significant impact on the value of inventory and of operating results . impairment of long-lived assets . we review long-lived assets for impairment including intangible assets with determinable useful lives whenever events or changes in circumstances indicate that the carrying value of the corresponding asset group may not be realizable . if an evaluation is required , the estimated future undiscounted cash flows associated with the asset group are compared to the asset group 's carrying amount to determine if an impairment of such asset is necessary . this requires us to make long-term forecasts of the future revenues and costs related to the assets groups subject to review . forecasts require assumptions about demand for our products and future market conditions . estimating future cash flows requires significant judgment , and our projections may vary from cash flows eventually realized . future events and unanticipated changes to assumptions could require a provision for impairment in a future period . the effect of any impairment would be reflected in operating income in the consolidated statements of operations . in addition , we estimate the useful lives of our long-lived assets and other intangibles and periodically review these estimates to determine whether these lives are appropriate . goodwill and indefinite lived intangible assets . goodwill and other intangible assets with indefinite useful lives are not amortized , but are evaluated for impairment annually , or immediately if conditions indicate that impairment could exist . the evaluation requires an impairment test to identify potential goodwill impairment and measure the amount of a goodwill impairment loss . the test compares the fair value of a reporting unit with its carrying amount , including goodwill . if the carrying amount of a reporting unit exceeds its fair value , the company measures the amount of the impairment loss . story_separator_special_tag pursuant to the 2018 us arca amendment , borrowings under facility a bears interest , at our option , at the bmo 's prime rate plus 0.75 % per annum on u.s. prime rate loans , or an adjusted libor rate plus 2.00 % per annum on eurodollar loans . usd facility a had a maturity date of july 31 , 2017 , which was extended to july 31 , 2018 pursuant to the 2017 us arca amendment . the 2018 us arca amendment extended the maturity of borrowings under usd facility a to april 1 , 2020. consistent with the terms of the historical usd facility a , including both a subjective acceleration clause and lockbox arrangement , will continue to be presented as a current liability . we believe based upon historical experience , that the usd facility a will remain in place to fund operations through maturity in april 2020. borrowings under usd facility b bear interest , at our option , at u.s. base rate plus 1.25 % per annum on u.s. prime loans , or an adjusted libor rate plus 2.50 % per annum on eurodollar loans . pursuant to the us arca , our quarterly principal payments were reduced to $ 31 usd for calendar year 2016 , with the original amortization schedule continuing to apply to all quarterly principal payments made after december 31 , 2016 , and the final maturity date of december 2 , 2019. the 2017 us arca amendment reduced the scheduled quarterly principal payments to $ 31 usd , commencing march 31 , 2017 , to continue until july 31 , 2018 , with a balloon payment of $ 4,438 on july 31 , 2018. pursuant to the 2018 us arca amendment , monthly principal repayments beginning on july 31 , 2018 are increased to $ 100 and will continue until march 31 , 2020 , with a balloon payment of $ 2,338 due on april 1 , 2020. the 2018 us arca amendment did not change the usd facility b interest rate . pursuant to the us arca , as amended by the 2017 us arca amendment and the 2018 us arca amendment , financial covenant testing is performed on our consolidated financial statements . we are required to meet certain minimum working capital ratios , minimum ebitda levels and effective tangible net worth levels for each fiscal quarter , as set forth in the 2017 us arca amendment and the 2018 us arca amendment . on march 28 , 2018 , pursuant to the 2018 us arca amendment , bmo waived defaults on all financial covenants existing as of december 31 , 2017 for which we were not in compliance . our obligations under the u.s. facilities are guaranteed by all our wholly-owned u.s. subsidiaries . in addition , we and our wholly-owned u.s. subsidiaries granted a security interest in substantially all of our assets , including 65 % of the shares of pioneer electrogroup canada inc. held by us , to secure our obligations for borrowed money under the u.s. facilities . the u.s. facilities also restrict our ability to incur indebtedness , create or incur liens , make investments , make distributions or dividends and enter into merger agreements or agreements for the sale of any or all our assets . as of december 31 , 2018 , we had approximately $ 18.8 million outstanding under our u.s. facilities . our borrowings consisted of approximately $ 15.0 million outstanding under usd facility a , and $ 3.8 million outstanding under usd facility b. as of december 31 , 2018 , the company was not in compliance with its financial covenants and on march 25 , 2019 , the company received a waiver from bmo on all financial covenant breaches existing as of december 31 , 2018. as of december 31 , 2017 , we had approximately $ 19.4 million outstanding under our u.s. credit facilities . our borrowings consisted of approximately $ 14.9 million outstanding under usd facility a , and $ 4.5 million outstanding under usd facility b . 31 capital lease obligations as of december 31 , 2018 and december 31 , 2017 , we had an immaterial amount of capital lease obligations outstanding that were assumed in connection with the acquisition of titan . capital expenditures our additions to property , plant and equipment were $ 0.6 million during the year ended december 31 , 2018 , as compared to $ 1.5 million during the year ended december 31 , 2017. we have no major future capital projects planned , or significant replacement spending anticipated during 2018. factors that may affect future operations we believe that our future operating results will continue to be subject to quarterly variations based upon a wide variety of factors , including the cyclical nature of the electrical equipment industry and the markets for our products and services . our operating results could also be impacted by a weakening of the canadian dollar , changing customer requirements and exposure to fluctuations in prices of important raw supplies , such as copper , steel and aluminum . we attempt to minimize increases resulting from fluctuations in supply costs through the inclusion of escalation clauses with respect to commodities in our customer contracts . we have various insurance policies , including cybersecurity , covering risks in amounts that we consider adequate . in addition to these measures , we attempt to recover other cost increases through improvements to our manufacturing efficiency and through increases in prices where competitively feasible . lastly , other economic conditions we can not foresee may affect customer demand . we predominately sell to customers in the utility , industrial production and commercial construction markets . accordingly , changes in the condition of any of our customers may have a greater impact than if our sales were more evenly distributed between different end markets . for a further discussion of factors that may affect future

cash provided by operating activities . cash provided by our operating activities was approximately $ 2.2 million during the year ended december 31 , 2018 , compared to $ 1.7 million during the year ended december 31 , 2017 , primarily due to working capital changes . cash provided by / used in investing activities . cash provided by investing activities during the year ended december 31 , 2018 was approximately $ 0.2 million , as compared to $ 1.4 million cash used in investing activities during the year ended december 31 , 2017. additions to our property , plant and equipment in the ordinary course of business were approximately $ 0.6 million and $ 1.5 million during the years ended december 31 , 2018 and 2017 , respectively . cash used in / provided by financing activities . cash used in our financing activities was $ 3.4 million during the year ended december 31 , 2018 , as compared to $ 0.6 million of cash provided by financing activities during the year ended december 31 , 2017. during 2018 , borrowings under our revolving credit facilities increased by $ 0.1 million . working capital . as of december 31 , 2018 , we had a working capital deficit of $ 5.1 million , including $ 0.2 million of cash and cash equivalents , compared to a working capital deficit of $ 1.7 million , including $ 0.2 million of cash and cash equivalents at december 31 , 2017. at december 31 , 2018 and 2017 , we had $ 0.4 and $ 3.3 million , respectively , of available and unused borrowing capacity from our revolving credit facilities , without taking into account cash and equivalents on hand . however , the availability of this capacity under our revolving credit facilities is subject to restrictions on the use of proceeds and is dependent upon our ability to satisfy certain financial and operating covenants , including financial ratios . management believes that the existing credit facility is available as of the filing date to support operations as needed .


 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 provided by operating activities . cash provided by our operating activities was approximately $ 2.2 million during the year ended december 31 , 2018 , compared to $ 1.7 million during the year ended december 31 , 2017 , primarily due to working capital changes . cash provided by / used in investing activities . cash provided by investing activities during the year ended december 31 , 2018 was approximately $ 0.2 million , as compared to $ 1.4 million cash used in investing activities during the year ended december 31 , 2017. additions to our property , plant and equipment in the ordinary course of business were approximately $ 0.6 million and $ 1.5 million during the years ended december 31 , 2018 and 2017 , respectively . cash used in / provided by financing activities . cash used in our financing activities was $ 3.4 million during the year ended december 31 , 2018 , as compared to $ 0.6 million of cash provided by financing activities during the year ended december 31 , 2017. during 2018 , borrowings under our revolving credit facilities increased by $ 0.1 million . working capital . as of december 31 , 2018 , we had a working capital deficit of $ 5.1 million , including $ 0.2 million of cash and cash equivalents , compared to a working capital deficit of $ 1.7 million , including $ 0.2 million of cash and cash equivalents at december 31 , 2017. at december 31 , 2018 and 2017 , we had $ 0.4 and $ 3.3 million , respectively , of available and unused borrowing capacity from our revolving credit facilities , without taking into account cash and equivalents on hand . however , the availability of this capacity under our revolving credit facilities is subject to restrictions on the use of proceeds and is dependent upon our ability to satisfy certain financial and operating covenants , including financial ratios . management believes that the existing credit facility is available as of the filing date to support operations as needed .
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 Suspicious Activity Report : foreign currency exchange rates although we report our results in accordance with u.s. gaap and in u.s. dollars , ptl and bemag are canadian operations whose functional currency is the canadian dollar . as such , the financial position , results of operations , cash flows and equity of these operations are initially consolidated in canadian dollars . their assets and liabilities are then translated from canadian dollars to u.s. dollars by applying the foreign currency exchange rate in effect at the balance sheet date , while the results of their operations and cash flows are translated to u.s. dollars by applying weighted average foreign currency exchange rates in effect during the reporting period . the resulting translation adjustments are included in other comprehensive income or loss . the following table provides actual end of period exchange rates used to translate the financial position of our canadian operations at the end of each period reported . the average exchange rates presented below , as provided by the bank of canada , are indicative of the weighted average rates we used to translate the revenues and expenses of our canadian operations into u.s. dollars ( rates expressed as the number of u.s. dollars to one canadian dollar for each period reported ) : replace_table_token_2_th critical accounting policies use of estimates . the preparation of financial statements in accordance with generally accepted accounting principles in the u.s. requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period . the financial statements include estimates based on currently available information and our judgment as to the outcome of future conditions and circumstances . significant estimates in these financial statements include pension expense , inventory provisions , useful lives and impairment of long-lived assets , warranty accruals , income tax provision , goodwill impairment analysis , stock-based compensation , allowance for doubtful accounts and estimates related to purchase price allocation . changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the financial statements and actual results could differ from the estimates and assumptions . 23 revenue recognition . revenue is recognized when ( 1 ) a contract with a customer exists , ( 2 ) performance obligations promised in a contract are identified based on the products or services that will be transferred to the customer , ( 3 ) the transaction price is determined based on the consideration to which the company will be entitled in exchange for transferring products or services to the customer , ( 4 ) the transaction price is allocated to the performance obligations in the contract and ( 5 ) the company satisfies performance obligations . substantially all of our revenue is recognized at a point of time , as the promised product passes to the customer . service revenues include maintenance contracts that are recognized over time based on the contract term and repair services which are recognized as services are delivered . inventories . we value inventories at the lower of cost or net realizable value . if a write down to the current market value is necessary , the market value can not be greater than the net realizable value , which is defined as selling price less costs to complete and dispose , and can not be lower than the net realizable value less a normal profit margin . we also continually evaluate the composition of our inventory and identify obsolete , slow-moving and excess inventories . inventory items identified as obsolete , slow-moving or excess are evaluated to determine if reserves are required . if we were not able to achieve our expectations of the net realizable value of the inventory at current market value , we would have to adjust our reserves accordingly . we attempt to accurately estimate future product demand to properly adjust inventory levels for our standard products . however , significant unanticipated changes in demand could have a significant impact on the value of inventory and of operating results . impairment of long-lived assets . we review long-lived assets for impairment including intangible assets with determinable useful lives whenever events or changes in circumstances indicate that the carrying value of the corresponding asset group may not be realizable . if an evaluation is required , the estimated future undiscounted cash flows associated with the asset group are compared to the asset group 's carrying amount to determine if an impairment of such asset is necessary . this requires us to make long-term forecasts of the future revenues and costs related to the assets groups subject to review . forecasts require assumptions about demand for our products and future market conditions . estimating future cash flows requires significant judgment , and our projections may vary from cash flows eventually realized . future events and unanticipated changes to assumptions could require a provision for impairment in a future period . the effect of any impairment would be reflected in operating income in the consolidated statements of operations . in addition , we estimate the useful lives of our long-lived assets and other intangibles and periodically review these estimates to determine whether these lives are appropriate . goodwill and indefinite lived intangible assets . goodwill and other intangible assets with indefinite useful lives are not amortized , but are evaluated for impairment annually , or immediately if conditions indicate that impairment could exist . the evaluation requires an impairment test to identify potential goodwill impairment and measure the amount of a goodwill impairment loss . the test compares the fair value of a reporting unit with its carrying amount , including goodwill . if the carrying amount of a reporting unit exceeds its fair value , the company measures the amount of the impairment loss . story_separator_special_tag pursuant to the 2018 us arca amendment , borrowings under facility a bears interest , at our option , at the bmo 's prime rate plus 0.75 % per annum on u.s. prime rate loans , or an adjusted libor rate plus 2.00 % per annum on eurodollar loans . usd facility a had a maturity date of july 31 , 2017 , which was extended to july 31 , 2018 pursuant to the 2017 us arca amendment . the 2018 us arca amendment extended the maturity of borrowings under usd facility a to april 1 , 2020. consistent with the terms of the historical usd facility a , including both a subjective acceleration clause and lockbox arrangement , will continue to be presented as a current liability . we believe based upon historical experience , that the usd facility a will remain in place to fund operations through maturity in april 2020. borrowings under usd facility b bear interest , at our option , at u.s. base rate plus 1.25 % per annum on u.s. prime loans , or an adjusted libor rate plus 2.50 % per annum on eurodollar loans . pursuant to the us arca , our quarterly principal payments were reduced to $ 31 usd for calendar year 2016 , with the original amortization schedule continuing to apply to all quarterly principal payments made after december 31 , 2016 , and the final maturity date of december 2 , 2019. the 2017 us arca amendment reduced the scheduled quarterly principal payments to $ 31 usd , commencing march 31 , 2017 , to continue until july 31 , 2018 , with a balloon payment of $ 4,438 on july 31 , 2018. pursuant to the 2018 us arca amendment , monthly principal repayments beginning on july 31 , 2018 are increased to $ 100 and will continue until march 31 , 2020 , with a balloon payment of $ 2,338 due on april 1 , 2020. the 2018 us arca amendment did not change the usd facility b interest rate . pursuant to the us arca , as amended by the 2017 us arca amendment and the 2018 us arca amendment , financial covenant testing is performed on our consolidated financial statements . we are required to meet certain minimum working capital ratios , minimum ebitda levels and effective tangible net worth levels for each fiscal quarter , as set forth in the 2017 us arca amendment and the 2018 us arca amendment . on march 28 , 2018 , pursuant to the 2018 us arca amendment , bmo waived defaults on all financial covenants existing as of december 31 , 2017 for which we were not in compliance . our obligations under the u.s. facilities are guaranteed by all our wholly-owned u.s. subsidiaries . in addition , we and our wholly-owned u.s. subsidiaries granted a security interest in substantially all of our assets , including 65 % of the shares of pioneer electrogroup canada inc. held by us , to secure our obligations for borrowed money under the u.s. facilities . the u.s. facilities also restrict our ability to incur indebtedness , create or incur liens , make investments , make distributions or dividends and enter into merger agreements or agreements for the sale of any or all our assets . as of december 31 , 2018 , we had approximately $ 18.8 million outstanding under our u.s. facilities . our borrowings consisted of approximately $ 15.0 million outstanding under usd facility a , and $ 3.8 million outstanding under usd facility b. as of december 31 , 2018 , the company was not in compliance with its financial covenants and on march 25 , 2019 , the company received a waiver from bmo on all financial covenant breaches existing as of december 31 , 2018. as of december 31 , 2017 , we had approximately $ 19.4 million outstanding under our u.s. credit facilities . our borrowings consisted of approximately $ 14.9 million outstanding under usd facility a , and $ 4.5 million outstanding under usd facility b . 31 capital lease obligations as of december 31 , 2018 and december 31 , 2017 , we had an immaterial amount of capital lease obligations outstanding that were assumed in connection with the acquisition of titan . capital expenditures our additions to property , plant and equipment were $ 0.6 million during the year ended december 31 , 2018 , as compared to $ 1.5 million during the year ended december 31 , 2017. we have no major future capital projects planned , or significant replacement spending anticipated during 2018. factors that may affect future operations we believe that our future operating results will continue to be subject to quarterly variations based upon a wide variety of factors , including the cyclical nature of the electrical equipment industry and the markets for our products and services . our operating results could also be impacted by a weakening of the canadian dollar , changing customer requirements and exposure to fluctuations in prices of important raw supplies , such as copper , steel and aluminum . we attempt to minimize increases resulting from fluctuations in supply costs through the inclusion of escalation clauses with respect to commodities in our customer contracts . we have various insurance policies , including cybersecurity , covering risks in amounts that we consider adequate . in addition to these measures , we attempt to recover other cost increases through improvements to our manufacturing efficiency and through increases in prices where competitively feasible . lastly , other economic conditions we can not foresee may affect customer demand . we predominately sell to customers in the utility , industrial production and commercial construction markets . accordingly , changes in the condition of any of our customers may have a greater impact than if our sales were more evenly distributed between different end markets . for a further discussion of factors that may affect future

