we also serve a variety of commercial clients worldwide , including : airlines , airports , electric and gas utilities , oil companies , hospitals , health insurers and other health-related companies , banks and other financial services companies , transportation , travel and hospitality firms , non-profits/associations , law firms , manufacturing firms , retail chains , and distribution companies . our commercial clients , which include clients outside the u.s. , generated approximately 38 % , 35 % , and 35 % of our revenue in 2017 , 2016 , and 2015 , respectively . we report operating results and financial data as a single segment based on the consolidated information used by our chief operating decision-maker in evaluating the financial performance of our business and allocating resources . our single segment represents our core business—professional services for government and commercial clients . although we describe our multiple service offerings to clients that operate in four markets to provide a better understanding of the scope and scale of our business , we do not manage our business or allocate our resources based on those service offerings or client markets . in 2017 , we saw growth in commercial client revenue and international government revenue which was partially offset by lower u.s. federal and state and local government revenue . our total revenue increased to $ 1,229.2 million , an increase of $ 44.1 million , or 3.7 % , for the year ended december 31 , 2017 compared to the prior year . operating income decreased $ 0.4 million , or 0.5 % , to $ 82.4 million for the year ended december 31 , 2017 compared to the prior year due to the increase in indirect expenses , offset by lower amortization of intangible assets . indirect expenses increased compared to the prior year primarily due to the current year effect of cost-saving actions to drive long-term profitability and an increase in the portion of incentive compensation to be paid as cash bonus expense which enabled us to include this additional cash expense in the tax provision . net income increased $ 16.3 million , or 35.0 % , to $ 62.9 million , largely driven by a $ 16.8 million decrease in the tax provision due to the enactment in december 2017 the tax act . 32 we believe that demand for our services will continue to grow as government , industry , and other stakeholders seek to addr ess critical long-term societal and natural resource issues due to heightened concerns about clean energy and energy efficiency ; health promotion , treatment , and cost control ; and ongoing homeland security threats . we also see significant opportunity to fu rther leverage our digital and client engagement capabilities across our commercial and government client base . our future results will depend on the success of our strategy to enhance our client relationships and seek larger engagements that span the enti re program life cycle , and to complete and successfully integrate additional strategic acquisitions . we will continue to focus on broadening domain expertise and building scale in key client markets and geographies by developing business with existing and new government and commercial clients , and replicating our business model in selective geographies . in doing so , we will continue to evaluate strategic acquisition opportunities , seeking acquisitions that promote the achievement of strategic objectives lik e enhanc ing our subject matter knowledge , broaden ing our service offerings , and or provid ing scale in specific geographies , and from which we believe that we can earn an acceptable return . u.s. federal government revenue was 45 % of our total revenue for the year ended december 31 , 2017. while we continue to see favorable long-term market opportunities , there are certain near-term challenges facing all government service providers , including top-line legislative constraints on federal government discretionary spending ; actions by congress could result in a delay or reduction to our revenue , profit and cash flows and could have a negative impact on our business and results of operations . however , we believe we are well positioned in budget areas that will continue to be priorities to the federal government . we believe that the combination of internally-generated funds , available bank borrowings , and cash and cash equivalents on hand will provide the required liquidity and capital resources necessary to fund on-going operations , potential acquisitions , customary capital expenditures , and other working capital requirements . our results of operations and cash flows may vary significantly from quarter to quarter depending on a number of factors , including , but not limited to : progress of contract performance ; extraordinary economic events and natural disasters ; number of billable days in a quarter ; timing of client orders ; timing of award fee notices ; changes in the scope of contracts ; variations in purchasing patterns under our contracts ; u.s. federal and state and local governments ' and other clients ' spending levels ; timing of billings to , and payments by clients ; timing of receipt of invoices from , and payments to , employees and vendors ; commencement , completion , and termination of contracts ; strategic decisions , such as acquisitions , consolidations , divestments , spin-offs , joint ventures , strategic investments , and changes in business strategy ; timing of significant costs and investments ( such as bid and proposal costs and the costs involved in planning or making acquisitions ) ; timing of events related to discrete tax items ; our contract mix and use of subcontractors or the timing of other direct costs for which we may earn lower contract margin ; changes in contract margin performance due to performance risks ; additions to , and departures of , staff ; changes in staff utilization ; 33 p aid time off taken by ou r employees ; level and cost story_separator_special_tag similarly , our cumulative foreign tax credit carry forward balance as of december 31 , 2017 and any valuation allowance required ( as applicable ) may also change . no additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the transition tax and any additional outside basis difference inherent in these entities as these amounts continue to be permanently reinvested in foreign operations . although we have not yet completed a comprehensive analysis of the tax act and can not determine the full extent of its impact on our consolidated financial statements and related disclosures , we expect that the tax act will have some favorable impact on its annual effective income tax rate in fiscal year 2018. this expected favorable impact is due to the tax act 's lower corporate tax rate which will be effective for our fiscal year 2018 , as well as expected impacts resulting from one-time events required by the tax act in fiscal year 2018. the net impacts of these one-time events are primarily driven by the anticipated favorable impacts as a result of our revaluation of deferred tax assets and liabilities , which is expected to be offset by the unfavorable impacts of the transition tax . the impact of the transition tax is a preliminary estimate and will not be finalized until the later part of 2018. we continue to evaluate the impact of the tax act and anticipates that any material adjustment will be made with the completion of our extended tax return . 37 stock-based compensation the icf international , inc. 2010 omnibus incentive plan ( as amended , the “ omnibus plan ” ) provides for the granting of options , stock appreciation rights , restricted stock , restricted stock units ( “ rsus ” ) , performance shares , performance units , cash-based awards , and other stock-based awards to all officers , key employees , and non-employee directors . as of december 31 , 2017 , there were approximately 1.9 million shares available for grant under the omnibus plan . we utilize cash-settled rsus ( “ csrsus ” ) which are settled only in cash payments . the cash payment is calculated by multiplying the number of csrsus vested by our closing stock price on the vesting date , subject to a maximum payment cap and a minimum payment floor . csrsus have no impact on the shares available for grant under the omnibus plan , and have no impact on the calculated shares used in earnings per share ( “ eps ” ) calculations . we also grant awards of unregistered shares to non-employee directors under the annual equity election program . the awards are issued from treasury stock and have no impact on the shares available for grant under the omnibus plan . we recognized total compensation expense relating to stock-based compensation of $ 17.5 million , $ 15.9 million , and $ 14.7 million for the years ended december 31 , 2017 , 2016 , and 2015 , respectively . we recognize stock-based compensation expense for stock options , restricted stock awards , rsus and csrsus on a straight-line basis over the requisite service period , which is generally the vesting period , and adjusted for the stock price at the balance sheet date . we recognize expense for performance-based share awards ( “ psas ” ) , which are subject to a performance condition and a market condition , on a straight-line basis over the performance period . non-employee director awards do not include vesting conditions and are expensed over the performance period . stock-based compensation expense is based on the estimated fair value of these instruments and the estimated number of shares ultimately expected to vest . the calculation of the fair value of the awards requires certain inputs that are subjective and changes to the estimates used will cause the fair value of stock awards and related stock-based compensation expense to vary . the fair value of stock options , restricted stock awards , rsus , psas and non-employee director awards is estimated based on the fair value of a share of common stock at the grant date . we have elected to use the black-scholes-merton option pricing model to determine the fair value of stock options . the fair value of a stock option award is affected by the price of our stock on the date of grant , as well as other assumptions used as inputs in the valuation model . these assumptions include the estimated volatility of the price of our stock over the term of the awards , the estimated period of time that we expect employees will hold stock options , and the risk-free interest rate . the fair value of psas is estimated using a monte carlo simulation model . we treat csrsus as liability-classified awards , and accounts for them at fair value based on the closing price of our stock at the balance sheet date . we are required to adjust stock-based compensation expense for the effects of estimated forfeitures of awards over the expense recognition period . we estimate the rate of future forfeitures based on factors which include our historical experience , but the amount of actual forfeitures may differ from current estimates particularly if the rate of future forfeitures is different from previous experience . in addition , the estimation of psas that will ultimately vest requires judgment in terms of estimates of future performance . to the extent actual performance or updated performance estimates differ from current estimates , such expense amounts are recorded as a cumulative adjustment in the period the estimates are revised . see “ note 13—accounting for stock-based compensation ” in the “ notes to consolidated financial statements ” for further discussion . recent accounting pronouncements new accounting standards are discussed in “ note 2—summary of significant accounting policies ” in the “ notes to consolidated financial statements .

liquidity and capital resources liquidity and borrowing capacity . our business generally requires minimal infrastructure investment because we are primarily a service provider for which facilities requirements are provided for under operating leases or on client premises . short-term liquidity requirements are created by our use of funds for working capital , capital expenditures , and the need to provide any debt service . we expect to meet these requirements through a combination of cash flows from operations and borrowings under our fifth amended and restated business loan and security agreement with a syndicate of twelve commercial banks ( the “ credit facility ” ) . we anticipate that our long-term liquidity requirements , including any future acquisitions , will be funded through a combination of cash flows from operations , borrowings under our credit facility , additional secured or unsecured debt , or the issuance or repurchase of common stock , each of which may be initially funded through borrowings under our credit facility . we believe that the combination of internally generated funds , available bank borrowings under our credit facility , and cash and cash equivalents on hand will provide the required liquidity and capital resources necessary to fund on-going operations , customary capital expenditures , and other current working capital requirements . we are continuously analyzing our capital structure to ensure we have sufficient capital to fund future acquisitions and internal growth . we monitor the state of the financial markets on a regular basis to assess the availability and cost of additional capital resources both from debt and equity sources . we believe that we will be able to access these markets at commercially reasonable terms and conditions if we need additional borrowings or capital . financial condition .


 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 liquidity and borrowing capacity . our business generally requires minimal infrastructure investment because we are primarily a service provider for which facilities requirements are provided for under operating leases or on client premises . short-term liquidity requirements are created by our use of funds for working capital , capital expenditures , and the need to provide any debt service . we expect to meet these requirements through a combination of cash flows from operations and borrowings under our fifth amended and restated business loan and security agreement with a syndicate of twelve commercial banks ( the “ credit facility ” ) . we anticipate that our long-term liquidity requirements , including any future acquisitions , will be funded through a combination of cash flows from operations , borrowings under our credit facility , additional secured or unsecured debt , or the issuance or repurchase of common stock , each of which may be initially funded through borrowings under our credit facility . we believe that the combination of internally generated funds , available bank borrowings under our credit facility , and cash and cash equivalents on hand will provide the required liquidity and capital resources necessary to fund on-going operations , customary capital expenditures , and other current working capital requirements . we are continuously analyzing our capital structure to ensure we have sufficient capital to fund future acquisitions and internal growth . we monitor the state of the financial markets on a regular basis to assess the availability and cost of additional capital resources both from debt and equity sources . we believe that we will be able to access these markets at commercially reasonable terms and conditions if we need additional borrowings or capital . financial condition .
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 Suspicious Activity Report : we also serve a variety of commercial clients worldwide , including : airlines , airports , electric and gas utilities , oil companies , hospitals , health insurers and other health-related companies , banks and other financial services companies , transportation , travel and hospitality firms , non-profits/associations , law firms , manufacturing firms , retail chains , and distribution companies . our commercial clients , which include clients outside the u.s. , generated approximately 38 % , 35 % , and 35 % of our revenue in 2017 , 2016 , and 2015 , respectively . we report operating results and financial data as a single segment based on the consolidated information used by our chief operating decision-maker in evaluating the financial performance of our business and allocating resources . our single segment represents our core business—professional services for government and commercial clients . although we describe our multiple service offerings to clients that operate in four markets to provide a better understanding of the scope and scale of our business , we do not manage our business or allocate our resources based on those service offerings or client markets . in 2017 , we saw growth in commercial client revenue and international government revenue which was partially offset by lower u.s. federal and state and local government revenue . our total revenue increased to $ 1,229.2 million , an increase of $ 44.1 million , or 3.7 % , for the year ended december 31 , 2017 compared to the prior year . operating income decreased $ 0.4 million , or 0.5 % , to $ 82.4 million for the year ended december 31 , 2017 compared to the prior year due to the increase in indirect expenses , offset by lower amortization of intangible assets . indirect expenses increased compared to the prior year primarily due to the current year effect of cost-saving actions to drive long-term profitability and an increase in the portion of incentive compensation to be paid as cash bonus expense which enabled us to include this additional cash expense in the tax provision . net income increased $ 16.3 million , or 35.0 % , to $ 62.9 million , largely driven by a $ 16.8 million decrease in the tax provision due to the enactment in december 2017 the tax act . 32 we believe that demand for our services will continue to grow as government , industry , and other stakeholders seek to addr ess critical long-term societal and natural resource issues due to heightened concerns about clean energy and energy efficiency ; health promotion , treatment , and cost control ; and ongoing homeland security threats . we also see significant opportunity to fu rther leverage our digital and client engagement capabilities across our commercial and government client base . our future results will depend on the success of our strategy to enhance our client relationships and seek larger engagements that span the enti re program life cycle , and to complete and successfully integrate additional strategic acquisitions . we will continue to focus on broadening domain expertise and building scale in key client markets and geographies by developing business with existing and new government and commercial clients , and replicating our business model in selective geographies . in doing so , we will continue to evaluate strategic acquisition opportunities , seeking acquisitions that promote the achievement of strategic objectives lik e enhanc ing our subject matter knowledge , broaden ing our service offerings , and or provid ing scale in specific geographies , and from which we believe that we can earn an acceptable return . u.s. federal government revenue was 45 % of our total revenue for the year ended december 31 , 2017. while we continue to see favorable long-term market opportunities , there are certain near-term challenges facing all government service providers , including top-line legislative constraints on federal government discretionary spending ; actions by congress could result in a delay or reduction to our revenue , profit and cash flows and could have a negative impact on our business and results of operations . however , we believe we are well positioned in budget areas that will continue to be priorities to the federal government . we believe that the combination of internally-generated funds , available bank borrowings , and cash and cash equivalents on hand will provide the required liquidity and capital resources necessary to fund on-going operations , potential acquisitions , customary capital expenditures , and other working capital requirements . our results of operations and cash flows may vary significantly from quarter to quarter depending on a number of factors , including , but not limited to : progress of contract performance ; extraordinary economic events and natural disasters ; number of billable days in a quarter ; timing of client orders ; timing of award fee notices ; changes in the scope of contracts ; variations in purchasing patterns under our contracts ; u.s. federal and state and local governments ' and other clients ' spending levels ; timing of billings to , and payments by clients ; timing of receipt of invoices from , and payments to , employees and vendors ; commencement , completion , and termination of contracts ; strategic decisions , such as acquisitions , consolidations , divestments , spin-offs , joint ventures , strategic investments , and changes in business strategy ; timing of significant costs and investments ( such as bid and proposal costs and the costs involved in planning or making acquisitions ) ; timing of events related to discrete tax items ; our contract mix and use of subcontractors or the timing of other direct costs for which we may earn lower contract margin ; changes in contract margin performance due to performance risks ; additions to , and departures of , staff ; changes in staff utilization ; 33 p aid time off taken by ou r employees ; level and cost story_separator_special_tag similarly , our cumulative foreign tax credit carry forward balance as of december 31 , 2017 and any valuation allowance required ( as applicable ) may also change . no additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the transition tax and any additional outside basis difference inherent in these entities as these amounts continue to be permanently reinvested in foreign operations . although we have not yet completed a comprehensive analysis of the tax act and can not determine the full extent of its impact on our consolidated financial statements and related disclosures , we expect that the tax act will have some favorable impact on its annual effective income tax rate in fiscal year 2018. this expected favorable impact is due to the tax act 's lower corporate tax rate which will be effective for our fiscal year 2018 , as well as expected impacts resulting from one-time events required by the tax act in fiscal year 2018. the net impacts of these one-time events are primarily driven by the anticipated favorable impacts as a result of our revaluation of deferred tax assets and liabilities , which is expected to be offset by the unfavorable impacts of the transition tax . the impact of the transition tax is a preliminary estimate and will not be finalized until the later part of 2018. we continue to evaluate the impact of the tax act and anticipates that any material adjustment will be made with the completion of our extended tax return . 37 stock-based compensation the icf international , inc. 2010 omnibus incentive plan ( as amended , the “ omnibus plan ” ) provides for the granting of options , stock appreciation rights , restricted stock , restricted stock units ( “ rsus ” ) , performance shares , performance units , cash-based awards , and other stock-based awards to all officers , key employees , and non-employee directors . as of december 31 , 2017 , there were approximately 1.9 million shares available for grant under the omnibus plan . we utilize cash-settled rsus ( “ csrsus ” ) which are settled only in cash payments . the cash payment is calculated by multiplying the number of csrsus vested by our closing stock price on the vesting date , subject to a maximum payment cap and a minimum payment floor . csrsus have no impact on the shares available for grant under the omnibus plan , and have no impact on the calculated shares used in earnings per share ( “ eps ” ) calculations . we also grant awards of unregistered shares to non-employee directors under the annual equity election program . the awards are issued from treasury stock and have no impact on the shares available for grant under the omnibus plan . we recognized total compensation expense relating to stock-based compensation of $ 17.5 million , $ 15.9 million , and $ 14.7 million for the years ended december 31 , 2017 , 2016 , and 2015 , respectively . we recognize stock-based compensation expense for stock options , restricted stock awards , rsus and csrsus on a straight-line basis over the requisite service period , which is generally the vesting period , and adjusted for the stock price at the balance sheet date . we recognize expense for performance-based share awards ( “ psas ” ) , which are subject to a performance condition and a market condition , on a straight-line basis over the performance period . non-employee director awards do not include vesting conditions and are expensed over the performance period . stock-based compensation expense is based on the estimated fair value of these instruments and the estimated number of shares ultimately expected to vest . the calculation of the fair value of the awards requires certain inputs that are subjective and changes to the estimates used will cause the fair value of stock awards and related stock-based compensation expense to vary . the fair value of stock options , restricted stock awards , rsus , psas and non-employee director awards is estimated based on the fair value of a share of common stock at the grant date . we have elected to use the black-scholes-merton option pricing model to determine the fair value of stock options . the fair value of a stock option award is affected by the price of our stock on the date of grant , as well as other assumptions used as inputs in the valuation model . these assumptions include the estimated volatility of the price of our stock over the term of the awards , the estimated period of time that we expect employees will hold stock options , and the risk-free interest rate . the fair value of psas is estimated using a monte carlo simulation model . we treat csrsus as liability-classified awards , and accounts for them at fair value based on the closing price of our stock at the balance sheet date . we are required to adjust stock-based compensation expense for the effects of estimated forfeitures of awards over the expense recognition period . we estimate the rate of future forfeitures based on factors which include our historical experience , but the amount of actual forfeitures may differ from current estimates particularly if the rate of future forfeitures is different from previous experience . in addition , the estimation of psas that will ultimately vest requires judgment in terms of estimates of future performance . to the extent actual performance or updated performance estimates differ from current estimates , such expense amounts are recorded as a cumulative adjustment in the period the estimates are revised . see “ note 13—accounting for stock-based compensation ” in the “ notes to consolidated financial statements ” for further discussion . recent accounting pronouncements new accounting standards are discussed in “ note 2—summary of significant accounting policies ” in the “ notes to consolidated financial statements .

