it is the client 's expectation in these engagements that the pre-established fee will not be exceeded except in mutually agreed upon circumstances . we generally recognize revenues under fixed-fee billing arrangements using a proportionate performance approach , which is based on work completed to-date versus our estimates of the total services to be provided under the engagement . contracts within our studer group solution are fixed-fee partner contracts with multiple deliverables , which primarily consist of coaching services , as well as seminars , materials and software products ( “ partner contracts ” ) . revenues for coaching services and software products are generally recognized on a straight-line basis over the length of the contract . all other revenues under partner contracts are recognized at the time the service is provided . fixed-fee arrangements also include software licenses for our revenue cycle management software and research administration and compliance software . licenses for our revenue cycle management software are sold only as a component of our consulting projects , and the services we provide are essential to the functionality of the software . therefore , revenues from these software licenses are recognized over the term of the related consulting services contract . license revenue from our research administration and compliance software is generally recognized in the month in which the software is delivered . fixed-fee engagements represented 47.4 % , 58.0 % , and 50.3 % of our revenues for the years ended december 31 , 2016 , 2015 , and 2014 , respectively . time-and-expense billing arrangements require the client to pay based on the number of hours worked by our revenue-generating professionals at agreed upon rates . time-and-expense arrangements also include certain speaking engagements , conferences , and publications purchased by our clients outside of partner contracts within our studer group solution . we recognize revenues under time-and-expense billing arrangements as the related services or publications are provided . time-and-expense engagements represented 38.7 % , 28.7 % , and 28.3 % of our revenues in 2016 , 2015 , and 2014 , respectively . in performance-based fee billing arrangements , fees are tied to the attainment of contractually defined objectives . we enter into performance-based engagements in essentially two forms . first , we generally earn fees that are directly related to the savings formally acknowledged by the client as a result of adopting our recommendations for improving operational and cost effectiveness in the areas we review . second , we have performance-based engagements in which we earn a success fee when and if certain predefined outcomes occur . often , performance-based fees supplement our time-and-expense or fixed-fee engagements . we do not recognize revenues under performance-based billing arrangements until all related performance criteria are met . performance-based fee revenues represented 8.9 % , 8.7 % , and 17.2 % of our revenues in 2016 , 2015 , and 2014 , respectively . the level of performance-based fees earned may vary based on our clients ' risk sharing preferences and the mix of services we provide . performance-based fee arrangements may cause significant variations in revenues , operating results , and average billing rates due to our level of execution and the timing of achievement of the performance-based criteria . clients that have purchased one of our software licenses can pay an annual fee for software support and maintenance . we also generate subscription revenue from our cloud-based analytic tools and solutions . software support and maintenance and subscription-based revenues are recognized ratably over the support or subscription period , which ranges from one to three years . these fees are billed in advance and included in deferred revenues until recognized . software support and maintenance and subscription-based revenues represented 5.0 % , 4.6 % , and 4.2 % of our revenues in 2016 , 2015 , and 2014 , respectively . 21 our quarterly results are impacted principally by our full-time consultants ' utilization rate , the billing rates we charge our clients , the number of our revenue-generating professionals who are available to work , and the amount of performance-based fees recognized , which often vary significantly between quarters . our utilization rate can be negatively affected by increased hiring because there is generally a transition period for new professionals that results in a temporary drop in our utilization rate . our utilization rate can also be affected by seasonal variations in the demand for our services from our clients . for example , during the third and fourth quarters of the year , vacations taken by our clients can result in the deferral of activity on existing and new engagements , which would negatively affect our utilization rate . the number of business work days is also affected by the number of vacation days taken by our consultants and holidays in each quarter . we typically have fewer business work days available in the fourth quarter of the year , which can impact revenues during that period . time-and-expense engagements do not provide us with a high degree of predictability as to performance in future periods . unexpected changes in the demand for our services can result in significant variations in utilization and revenues and present a challenge to optimal hiring and staffing . moreover , our clients typically retain us on an engagement-by-engagement basis , rather than under long-term recurring contracts . the volume of work performed for any particular client can vary widely from period to period . reimbursable expenses reimbursable expenses that are billed to clients , primarily relating to travel and out-of-pocket expenses incurred in connection with engagements , are included in total revenues and reimbursable expenses , and typically an equivalent amount of these expenses are included in total direct costs and reimbursable expenses . reimbursable expenses also include subcontractors who are billed to our clients at cost . story_separator_special_tag the decrease in operating margin was primarily attributable to the increase in salaries and related expenses for our revenue-generating professionals as a percentage of revenues , the decrease in litigation and other gains , net , and the increase in restructuring charges as a percentage of revenues , partially offset by the decrease in share-based compensation expense for our revenue-generating professionals in 2016 compared to 2015. other expense , net total other expense , net decreased $ 4.9 million to $ 15.1 million for the year ended december 31 , 2016 , from $ 19.9 million for the year ended december 31 , 2015 . the decrease was primarily attributable to a $ 1.9 million decrease in interest expense , net , a $ 1.7 million decrease in foreign currency transaction losses , and a $ 1.2 million gain during 2016 from an increase in the market value of our investments that are used to fund our deferred compensation liability compared to a $ 0.2 million loss during 2015. the decrease in interest expense was due to lower levels of borrowings under our credit facility during 2016 compared to 2015. income tax expense for the year ended december 31 , 2016 , our effective tax rate was 33.3 % as we recognized income tax expense from continuing operations of $ 19.7 million on income from continuing operations of $ 59.2 million . for the year ended december 31 , 2015 , our effective tax rate was 25.9 % as we recognized income tax expense from continuing operations of $ 21.7 million on income from continuing operations of $ 83.6 million . our effective tax rate for 2016 was lower than the statutory rate , inclusive of state income taxes , primarily due to valuation allowance reductions , certain credits and deductions , non-taxable income , and a discrete tax benefit related to share-based compensation , partially offset by non-deductible business expenses . in 2016 , we released certain valuation allowances primarily related to foreign tax credits , as we expect to have sufficient foreign source income to utilize these credits before their expiration . our effective tax rate for 2015 was lower than the statutory rate , inclusive of state income taxes , primarily due to the impact of a tax election made in the fourth quarter of 2015 to classify two of our wholly-owned foreign subsidiaries as disregarded entities for u.s. federal income tax purposes ( commonly referred to as a “ check-the-box ” election ) . as a result of this election , we realized an income tax benefit of $ 13.0 million , of which $ 0.7 million is unrecognized , resulting in a net recognized tax benefit of $ 12.3 million . see note 16 `` income taxes `` within the notes to our consolidated financial statements for additional information related to our income tax expense . 27 net income from continuing operations net income from continuing operations was $ 39.5 million for the year ended december 31 , 2016 , compared to $ 61.9 million for the year ended december 31 , 2015 . the $ 22.4 million decrease in net income from continuing operations was primarily due to the decrease in operating income , partially offset by the decrease in other expense , net , as discussed above . as a result of the decrease in net income from continuing operations , partially offset by the reduction in diluted shares outstanding due to the share repurchases in the fourth quarter of 2015 and first quarter of 2016 , diluted earnings per share from continuing operations for the year ended december 31 , 2016 was $ 1.84 compared to $ 2.74 for 2015 . discontinued operations net loss from discontinued operations for the year ended december 31 , 2016 was $ 1.9 million and primarily related to obligations for former employees , legal fees , and updated lease assumptions for vacated office space directly related to the sale of the legal segment . net loss from discontinued operations for the year ended december 31 , 2015 was $ 2.8 million . see note 3 `` discontinued operations `` within the notes to our consolidated financial statements for additional information about our discontinued operations . ebitda and adjusted ebitda ebitda decreased $ 24.5 million , or 16.9 % , to $ 120.9 million for the year ended december 31 , 2016 , from $ 145.4 million for the year ended december 31 , 2015 . adjusted ebitda decreased $ 10.8 million , or 7.8 % , to $ 128.5 million in 2016 from $ 139.3 million in 2015 . the decrease in ebitda was primarily due to the decrease in segment operating income , as discussed below in segment results , and the decrease in litigation and other gains . the decrease in adjusted ebitda was primarily due to the decrease in segment operating income , exclusive of restructuring charges . adjusted net income from continuing operations adjusted net income from continuing operations increased $ 1.2 million , or 1.8 % , to $ 68.7 million for the year ended december 31 , 2016 , compared to $ 67.6 million for the year ended december 31 , 2015 . as a result of the increase in adjusted net income from continuing operations , coupled with the reduction in diluted shares outstanding due to the share repurchases in the fourth quarter of 2015 and first quarter of 2016 , adjusted diluted earnings per share from continuing operations for 2016 was $ 3.21 , compared to $ 2.99 for 2015 . segment results healthcare revenues healthcare segment revenues decreased $ 22.0 million , or 4.9 % , to $ 424.9 million for the year ended december 31 , 2016 , from $ 446.9 million for the year ended december 31 , 2015 . revenues for 2016 included $ 10.3 million from our acquisitions of myrounding and hsm consulting , both of which were completed during 2016 , and

net cash used in investing activities was $ 86.6 million , $ 272.2 million , and $ 93.8 million for the years ended december 31 , 2016 , 2015 , and 2014 , respectively . the use of cash in 2016 primarily consisted of $ 69.1 million for purchases of businesses and $ 13.9 million for purchases of property and equipment . the use of cash in 2015 primarily consisted of $ 340.0 million for purchases of businesses , $ 18.6 million for purchases of property and equipment , and $ 15.4 million for the purchase of convertible debt investments in shorelight holdings , llc ( “ shorelight ” ) . shorelight , the parent company of shorelight education , is a u.s.-based company that partners with leading nonprofit universities to increase access and retention of international students , boost institutional growth , and enhance an institution 's global footprint . the zero coupon convertible notes 34 will mature on july 1 , 2020 , unless converted earlier . the use of cash in 2015 was partially offset by the net proceeds received of $ 108.5 million for the sale of the huron legal segment in december 2015. see note 3 `` discontinued operations '' within the notes to our consolidated financial statements for information about the sale of the huron legal segment . the use of cash in 2014 primarily consisted of $ 54.0 million for purchases of businesses , $ 25.9 million for purchases of property and equipment , and $ 12.5 million for the purchase of convertible debt investments in shorelight .


 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 used in investing activities was $ 86.6 million , $ 272.2 million , and $ 93.8 million for the years ended december 31 , 2016 , 2015 , and 2014 , respectively . the use of cash in 2016 primarily consisted of $ 69.1 million for purchases of businesses and $ 13.9 million for purchases of property and equipment . the use of cash in 2015 primarily consisted of $ 340.0 million for purchases of businesses , $ 18.6 million for purchases of property and equipment , and $ 15.4 million for the purchase of convertible debt investments in shorelight holdings , llc ( “ shorelight ” ) . shorelight , the parent company of shorelight education , is a u.s.-based company that partners with leading nonprofit universities to increase access and retention of international students , boost institutional growth , and enhance an institution 's global footprint . the zero coupon convertible notes 34 will mature on july 1 , 2020 , unless converted earlier . the use of cash in 2015 was partially offset by the net proceeds received of $ 108.5 million for the sale of the huron legal segment in december 2015. see note 3 `` discontinued operations '' within the notes to our consolidated financial statements for information about the sale of the huron legal segment . the use of cash in 2014 primarily consisted of $ 54.0 million for purchases of businesses , $ 25.9 million for purchases of property and equipment , and $ 12.5 million for the purchase of convertible debt investments in shorelight .
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 Suspicious Activity Report : it is the client 's expectation in these engagements that the pre-established fee will not be exceeded except in mutually agreed upon circumstances . we generally recognize revenues under fixed-fee billing arrangements using a proportionate performance approach , which is based on work completed to-date versus our estimates of the total services to be provided under the engagement . contracts within our studer group solution are fixed-fee partner contracts with multiple deliverables , which primarily consist of coaching services , as well as seminars , materials and software products ( “ partner contracts ” ) . revenues for coaching services and software products are generally recognized on a straight-line basis over the length of the contract . all other revenues under partner contracts are recognized at the time the service is provided . fixed-fee arrangements also include software licenses for our revenue cycle management software and research administration and compliance software . licenses for our revenue cycle management software are sold only as a component of our consulting projects , and the services we provide are essential to the functionality of the software . therefore , revenues from these software licenses are recognized over the term of the related consulting services contract . license revenue from our research administration and compliance software is generally recognized in the month in which the software is delivered . fixed-fee engagements represented 47.4 % , 58.0 % , and 50.3 % of our revenues for the years ended december 31 , 2016 , 2015 , and 2014 , respectively . time-and-expense billing arrangements require the client to pay based on the number of hours worked by our revenue-generating professionals at agreed upon rates . time-and-expense arrangements also include certain speaking engagements , conferences , and publications purchased by our clients outside of partner contracts within our studer group solution . we recognize revenues under time-and-expense billing arrangements as the related services or publications are provided . time-and-expense engagements represented 38.7 % , 28.7 % , and 28.3 % of our revenues in 2016 , 2015 , and 2014 , respectively . in performance-based fee billing arrangements , fees are tied to the attainment of contractually defined objectives . we enter into performance-based engagements in essentially two forms . first , we generally earn fees that are directly related to the savings formally acknowledged by the client as a result of adopting our recommendations for improving operational and cost effectiveness in the areas we review . second , we have performance-based engagements in which we earn a success fee when and if certain predefined outcomes occur . often , performance-based fees supplement our time-and-expense or fixed-fee engagements . we do not recognize revenues under performance-based billing arrangements until all related performance criteria are met . performance-based fee revenues represented 8.9 % , 8.7 % , and 17.2 % of our revenues in 2016 , 2015 , and 2014 , respectively . the level of performance-based fees earned may vary based on our clients ' risk sharing preferences and the mix of services we provide . performance-based fee arrangements may cause significant variations in revenues , operating results , and average billing rates due to our level of execution and the timing of achievement of the performance-based criteria . clients that have purchased one of our software licenses can pay an annual fee for software support and maintenance . we also generate subscription revenue from our cloud-based analytic tools and solutions . software support and maintenance and subscription-based revenues are recognized ratably over the support or subscription period , which ranges from one to three years . these fees are billed in advance and included in deferred revenues until recognized . software support and maintenance and subscription-based revenues represented 5.0 % , 4.6 % , and 4.2 % of our revenues in 2016 , 2015 , and 2014 , respectively . 21 our quarterly results are impacted principally by our full-time consultants ' utilization rate , the billing rates we charge our clients , the number of our revenue-generating professionals who are available to work , and the amount of performance-based fees recognized , which often vary significantly between quarters . our utilization rate can be negatively affected by increased hiring because there is generally a transition period for new professionals that results in a temporary drop in our utilization rate . our utilization rate can also be affected by seasonal variations in the demand for our services from our clients . for example , during the third and fourth quarters of the year , vacations taken by our clients can result in the deferral of activity on existing and new engagements , which would negatively affect our utilization rate . the number of business work days is also affected by the number of vacation days taken by our consultants and holidays in each quarter . we typically have fewer business work days available in the fourth quarter of the year , which can impact revenues during that period . time-and-expense engagements do not provide us with a high degree of predictability as to performance in future periods . unexpected changes in the demand for our services can result in significant variations in utilization and revenues and present a challenge to optimal hiring and staffing . moreover , our clients typically retain us on an engagement-by-engagement basis , rather than under long-term recurring contracts . the volume of work performed for any particular client can vary widely from period to period . reimbursable expenses reimbursable expenses that are billed to clients , primarily relating to travel and out-of-pocket expenses incurred in connection with engagements , are included in total revenues and reimbursable expenses , and typically an equivalent amount of these expenses are included in total direct costs and reimbursable expenses . reimbursable expenses also include subcontractors who are billed to our clients at cost . story_separator_special_tag the decrease in operating margin was primarily attributable to the increase in salaries and related expenses for our revenue-generating professionals as a percentage of revenues , the decrease in litigation and other gains , net , and the increase in restructuring charges as a percentage of revenues , partially offset by the decrease in share-based compensation expense for our revenue-generating professionals in 2016 compared to 2015. other expense , net total other expense , net decreased $ 4.9 million to $ 15.1 million for the year ended december 31 , 2016 , from $ 19.9 million for the year ended december 31 , 2015 . the decrease was primarily attributable to a $ 1.9 million decrease in interest expense , net , a $ 1.7 million decrease in foreign currency transaction losses , and a $ 1.2 million gain during 2016 from an increase in the market value of our investments that are used to fund our deferred compensation liability compared to a $ 0.2 million loss during 2015. the decrease in interest expense was due to lower levels of borrowings under our credit facility during 2016 compared to 2015. income tax expense for the year ended december 31 , 2016 , our effective tax rate was 33.3 % as we recognized income tax expense from continuing operations of $ 19.7 million on income from continuing operations of $ 59.2 million . for the year ended december 31 , 2015 , our effective tax rate was 25.9 % as we recognized income tax expense from continuing operations of $ 21.7 million on income from continuing operations of $ 83.6 million . our effective tax rate for 2016 was lower than the statutory rate , inclusive of state income taxes , primarily due to valuation allowance reductions , certain credits and deductions , non-taxable income , and a discrete tax benefit related to share-based compensation , partially offset by non-deductible business expenses . in 2016 , we released certain valuation allowances primarily related to foreign tax credits , as we expect to have sufficient foreign source income to utilize these credits before their expiration . our effective tax rate for 2015 was lower than the statutory rate , inclusive of state income taxes , primarily due to the impact of a tax election made in the fourth quarter of 2015 to classify two of our wholly-owned foreign subsidiaries as disregarded entities for u.s. federal income tax purposes ( commonly referred to as a “ check-the-box ” election ) . as a result of this election , we realized an income tax benefit of $ 13.0 million , of which $ 0.7 million is unrecognized , resulting in a net recognized tax benefit of $ 12.3 million . see note 16 `` income taxes `` within the notes to our consolidated financial statements for additional information related to our income tax expense . 27 net income from continuing operations net income from continuing operations was $ 39.5 million for the year ended december 31 , 2016 , compared to $ 61.9 million for the year ended december 31 , 2015 . the $ 22.4 million decrease in net income from continuing operations was primarily due to the decrease in operating income , partially offset by the decrease in other expense , net , as discussed above . as a result of the decrease in net income from continuing operations , partially offset by the reduction in diluted shares outstanding due to the share repurchases in the fourth quarter of 2015 and first quarter of 2016 , diluted earnings per share from continuing operations for the year ended december 31 , 2016 was $ 1.84 compared to $ 2.74 for 2015 . discontinued operations net loss from discontinued operations for the year ended december 31 , 2016 was $ 1.9 million and primarily related to obligations for former employees , legal fees , and updated lease assumptions for vacated office space directly related to the sale of the legal segment . net loss from discontinued operations for the year ended december 31 , 2015 was $ 2.8 million . see note 3 `` discontinued operations `` within the notes to our consolidated financial statements for additional information about our discontinued operations . ebitda and adjusted ebitda ebitda decreased $ 24.5 million , or 16.9 % , to $ 120.9 million for the year ended december 31 , 2016 , from $ 145.4 million for the year ended december 31 , 2015 . adjusted ebitda decreased $ 10.8 million , or 7.8 % , to $ 128.5 million in 2016 from $ 139.3 million in 2015 . the decrease in ebitda was primarily due to the decrease in segment operating income , as discussed below in segment results , and the decrease in litigation and other gains . the decrease in adjusted ebitda was primarily due to the decrease in segment operating income , exclusive of restructuring charges . adjusted net income from continuing operations adjusted net income from continuing operations increased $ 1.2 million , or 1.8 % , to $ 68.7 million for the year ended december 31 , 2016 , compared to $ 67.6 million for the year ended december 31 , 2015 . as a result of the increase in adjusted net income from continuing operations , coupled with the reduction in diluted shares outstanding due to the share repurchases in the fourth quarter of 2015 and first quarter of 2016 , adjusted diluted earnings per share from continuing operations for 2016 was $ 3.21 , compared to $ 2.99 for 2015 . segment results healthcare revenues healthcare segment revenues decreased $ 22.0 million , or 4.9 % , to $ 424.9 million for the year ended december 31 , 2016 , from $ 446.9 million for the year ended december 31 , 2015 . revenues for 2016 included $ 10.3 million from our acquisitions of myrounding and hsm consulting , both of which were completed during 2016 , and

