with an ongoing commitment to corporate citizenship , the company has been named to the dow jones sustainability north america index for six consecutive years . fiscal 2017 performance reflected a higher gross profit in the grocery & snacks segment , offset by lower gross profits in the refrigerated & frozen , foodservice , and international segments . fiscal 2017 results were also impacted by lower sales volumes and the reduction of profits due to the divestitures of spicetec and jm swank in the first quarter of fiscal 2017. the improved operating performance reflected significantly lower selling , general and administrative ( `` sg & a `` ) expenses and lower interest expense , in each case compared to fiscal 2016. diluted earnings per share in fiscal 2017 was $ 1.46 , including earnings of $ 1.25 per diluted share from continuing operations and $ 0.21 per diluted share from discontinued operations . diluted loss per share in fiscal 2016 was $ 1.56 , including earnings of $ 0.29 per diluted share from continuing operations and a loss of $ 1.85 per diluted share from discontinued 18 operations . several significant items affect the comparability of year-over-year results of continuing operations ( see `` items impacting comparability `` below ) . in fiscal 2017 , we completed the spinoff of lamb weston holdings , inc. ( `` lamb weston `` ) through a distribution of 100 % of our interest in lamb weston to holders of outstanding shares of our common stock ( the `` spinoff `` ) . the transaction effecting this change was structured as a tax-free spinoff . we also completed several other acquisitions and divestitures during the year . see `` acquisitions `` below and `` divestitures and formation of ardent mills joint venture `` below . finally , we completed the relocation of our corporate headquarters to chicago , illinois in the first quarter of fiscal 2017. in the first quarter of fiscal 2017 , in anticipation of the spinoff , we reorganized our reporting segments . we now reflect our results of operations in five reporting segments : grocery & snacks , refrigerated & frozen , international , foodservice , and commercial . the results of operations for the lamb weston business have been reclassified to results of discontinued operations for all periods presented , and the assets and liabilities of the lamb weston business have been reclassified to assets and liabilities of discontinued operations for all periods prior to the spinoff . items impacting comparability items of note impacting comparability of results from continuing operations for fiscal 2017 included the following : charges totaling $ 304.2 million ( $ 257.7 million after-tax ) related to the impairment of goodwill and other intangible assets , gains totaling $ 197.4 million ( $ 68.4 million after-tax ) from the sales of the spicetec and jm swank businesses , charges totaling $ 93.3 million ( $ 60.2 million after-tax ) related to the early retirement of debt , charges totaling $ 63.6 million ( $ 41.4 million after-tax ) in connection with the `` scae plan `` ( as defined below ) , charges totaling $ 31.4 million ( $ 19.6 million after-tax ) , including an impairment charge of $ 27.6 million related to the production assets of the business , for the planned divestiture of the wesson ® oil business , charges totaling $ 13.8 million ( $ 8.5 million after-tax ) related to a pension lump sum settlement , a gain of $ 5.7 million ( $ 3.7 million after-tax ) in connection with a legacy legal matter , an income tax benefit of $ 91.3 million related to a tax adjustment of valuation allowance associated with the planned divestiture of the wesson ® oil business , and an income tax benefit of $ 14.6 million associated with a tax planning strategy that allowed us to utilize certain state tax attributes and certain foreign incentives . items of note impacting comparability of results from continuing operations for fiscal 2016 included the following : a charge of $ 348.5 million ( $ 215.1 million after-tax ) reflecting the year-end write-off of actuarial losses in excess of 10 % of our pension liability , charges totaling $ 281.8 million ( $ 178.2 million after-tax ) in connection with the `` scae plan `` , a charge of $ 50.1 million ( $ 31.6 million after-tax ) related to the impairment of the chef boyardee ® brand , charges of $ 23.9 million ( $ 15.4 million after-tax ) related to the repurchase of certain senior notes , a charge of $ 5.0 million ( $ 3.1 million after-tax ) in connection with a legacy legal matter , and income tax expense of $ 8.3 million related to legal entity changes for a business retained from private brands and a $ 2.7 million charge for the prior year implementation of a new tax position offset by the benefit of normal , recurring , income tax credits and deductions combined with a lower pre-tax level of earnings ( due in large part to the impact of the write-off of $ 348.5 million of actuarial losses under our method of accounting for pension benefits ) . 19 segment presentation of gains and losses from derivatives used for economic hedging of anticipated commodity input costs and economic hedging of foreign currency exchange rate risks of anticipated transactions is discussed in the segment review below . acquisitions in april 2017 , we acquired protein-based snacking businesses thanasi foods llc , maker of duke 's ® meat snacks , and bigs llc , maker of bigs ® seeds , for $ 217.6 million in cash , net of cash acquired , subject to a working capital adjustment ( the `` thanasi acquisition `` ) . story_separator_special_tag international incurred an operating loss for fiscal 2017 of $ 168.9 million and earned an operating profit of $ 66.7 million in fiscal 2016 . the operating loss in fiscal 2017 includes charges totaling $ 235.9 million for the impairment of goodwill and an intangible brand asset in our canadian and mexican operations . gross profits were $ 8.5 million lower in fiscal 2017 than in fiscal 2016 , driven by the impact of foreign exchange rates . operating profits were negatively impacted by $ 9.9 million from the impact of foreign exchange rates in fiscal 2017 relative to fiscal 2016 . 24 foodservice operating profit for fiscal 2017 was $ 105.1 million , an increase of $ 7.4 million , or 8 % , compared to fiscal 2016 . gross profits were $ 5.6 million lower in fiscal 2017 than in fiscal 2016 , driven by volume declines and product supply shortfalls . this was offset by an inventory write-down in fiscal 2016 at a foreign non-core popcorn business that we have since exited . operating profit of the foodservice segment was impacted by charges of $ 1.8 million in fiscal 2017 in connection with our restructuring plans . commercial operating profit was $ 202.6 million in fiscal 2017 and $ 45.4 million in fiscal 2016 . the company sold the spicetec and jm swank businesses in the first quarter of fiscal 2017 , recognizing pre-tax gains totaling $ 197.4 million . the spicetec and jm swank businesses comprise the entire commercial segment following the presentation of lamb weston as discontinued operations . there are no further operations in the commercial segment . interest expense , net in fiscal 2017 , net interest expense was $ 195.5 million , a decrease of $ 100.3 million , or 34 % , from fiscal 2016 . the decrease reflects the repayment of $ 2.2 billion , $ 550 million , and $ 473 million of debt in the third quarter of fiscal 2016 , the first quarter of fiscal 2017 , and the third quarter of fiscal 2017 , respectively , as well as the exchange of $ 1.4 billion of debt in connection with the spinoff of lamb weston during the second quarter of 2017. for more information about the debt exchange , please see note 6 `` discontinued operations and other divestitures `` to the consolidated financial statements contained in this report . income taxes our income tax expense was $ 254.7 million and $ 46.4 million in fiscal 2017 and 2016 , respectively . the effective tax rate ( calculated as the ratio of income tax expense to pre-tax income from continuing operations , inclusive of equity method investment earnings ) was approximately 32 % and 27 % for fiscal 2017 and 2016 , respectively . the effective tax rate in fiscal 2017 reflects the following : additional tax expense associated with non-deductible goodwill sold in connection with the divestitures of the spicetec and jm swank businesses , additional tax expense associated with non-deductible goodwill in our mexican and canadian businesses , for which an impairment charge was recognized , an income tax benefit for the adjustment of a valuation allowance associated with the planned divestiture of the wesson ® oil business , an income tax benefit for excess tax benefits allowed upon the vesting/exercise of employee stock compensation awards by our employees , beyond that which is attributable to the original fair value of the awards upon the date of grant , and an income tax benefit associated with a tax planning strategy that allowed us to utilize certain state tax attributes and certain foreign incentives . the effective tax rate in fiscal 2016 reflects the following : additional tax expense related to legal entity changes for a business retained from the private brands business , a charge for the prior year implementation of a new tax position , and an income tax benefit of normal , recurring , income tax credits and deductions combined with a lower pre-tax level of earnings ( due in large part to the impact of the write-off of $ 348.5 million of actuarial losses under our method of accounting for pension benefits ) . we expect our effective tax rate in fiscal 2018 , exclusive of any unusual transactions or tax events , to be approximately 32.5 % -33.5 % . 25 equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates . our most significant affiliate is the ardent mills joint venture . our share of earnings from our equity method investment earnings were $ 71.2 million and $ 66.1 million for fiscal 2017 and 2016 , respectively . the increases are reflective of higher profits from the ardent mills joint venture due to more favorable wheat market conditions as well as improved operational effectiveness . results of discontinued operations our discontinued operations generated after-tax income of $ 102.0 million in fiscal 2017 and an after-tax loss of $ 794.4 million in fiscal 2016. results reflected the operations of lamb weston through the date of its spinoff in november 2016 , as well as the results of the private brands business prior to its divestiture in the second half of fiscal 2016. we incurred significant costs associated with effecting the spinoff . these costs are included in results of discontinued operations . we recognized a pre-tax charge of $ 1.92 billion ( $ 1.44 billion after-tax ) in fiscal 2016 , to write-down the goodwill and long-lived assets of the private brands business to the final sales price , less costs to sell , and to recognize the final loss . earnings ( loss ) per share diluted earnings per share in fiscal 2017 was $ 1.46 , including earnings of $ 1.25 per diluted share from continuing operations and $ 0.21 per diluted share from discontinued operations . diluted loss per share in fiscal 2016 was

liquidity and capital resources sources of liquidity and capital the primary objective of our financing strategy is to maintain a prudent capital structure that provides us flexibility to pursue our growth objectives . if necessary , we use short-term debt principally to finance ongoing operations , including our seasonal requirements for working capital and a combination of equity and long-term debt to finance both our base working capital needs and our non-current assets . we are committed to maintaining an investment grade credit rating . during fiscal 2017 , we entered into a revolving credit agreement ( the `` credit agreement '' ) with a syndicate of financial institutions that provides for an unsecured revolving credit facility in a maximum aggregate principal amount outstanding at any one time of $ 1.25 billion ( subject to increase to a maximum aggregate principal amount of $ 1.75 billion with the consent of the lenders ) . this revolving credit facility replaced our existing revolving credit facility . we have historically used a credit facility principally as a back-up for our commercial paper program . as of may 28 , 2017 , there were no outstanding borrowings under the facility . the credit agreement contains customary affirmative and negative covenants for unsecured investment grade credit facilities of this type . it generally requires our ratio of ebitda ( earnings before interest , taxes , depreciation and amortization ) to interest expense to be not less than 3.0 to 1.0 and our ratio of funded debt to ebitda to be not greater than 3.75 to 1.0 ( provided that such ratio may be increased at the option of the company in connection with a material transaction ) , with each ratio to be calculated on a rolling four-quarter basis . as of may 28 , 2017 , we were in compliance with all financial covenants under the credit agreement . 29 as of may 28 , 2017 , we had $ 26.2 million outstanding under our commercial paper program . the highest level of borrowings during fiscal 2017 was $ 65.0 million .


 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 sources of liquidity and capital the primary objective of our financing strategy is to maintain a prudent capital structure that provides us flexibility to pursue our growth objectives . if necessary , we use short-term debt principally to finance ongoing operations , including our seasonal requirements for working capital and a combination of equity and long-term debt to finance both our base working capital needs and our non-current assets . we are committed to maintaining an investment grade credit rating . during fiscal 2017 , we entered into a revolving credit agreement ( the `` credit agreement '' ) with a syndicate of financial institutions that provides for an unsecured revolving credit facility in a maximum aggregate principal amount outstanding at any one time of $ 1.25 billion ( subject to increase to a maximum aggregate principal amount of $ 1.75 billion with the consent of the lenders ) . this revolving credit facility replaced our existing revolving credit facility . we have historically used a credit facility principally as a back-up for our commercial paper program . as of may 28 , 2017 , there were no outstanding borrowings under the facility . the credit agreement contains customary affirmative and negative covenants for unsecured investment grade credit facilities of this type . it generally requires our ratio of ebitda ( earnings before interest , taxes , depreciation and amortization ) to interest expense to be not less than 3.0 to 1.0 and our ratio of funded debt to ebitda to be not greater than 3.75 to 1.0 ( provided that such ratio may be increased at the option of the company in connection with a material transaction ) , with each ratio to be calculated on a rolling four-quarter basis . as of may 28 , 2017 , we were in compliance with all financial covenants under the credit agreement . 29 as of may 28 , 2017 , we had $ 26.2 million outstanding under our commercial paper program . the highest level of borrowings during fiscal 2017 was $ 65.0 million .
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 Suspicious Activity Report : with an ongoing commitment to corporate citizenship , the company has been named to the dow jones sustainability north america index for six consecutive years . fiscal 2017 performance reflected a higher gross profit in the grocery & snacks segment , offset by lower gross profits in the refrigerated & frozen , foodservice , and international segments . fiscal 2017 results were also impacted by lower sales volumes and the reduction of profits due to the divestitures of spicetec and jm swank in the first quarter of fiscal 2017. the improved operating performance reflected significantly lower selling , general and administrative ( `` sg & a `` ) expenses and lower interest expense , in each case compared to fiscal 2016. diluted earnings per share in fiscal 2017 was $ 1.46 , including earnings of $ 1.25 per diluted share from continuing operations and $ 0.21 per diluted share from discontinued operations . diluted loss per share in fiscal 2016 was $ 1.56 , including earnings of $ 0.29 per diluted share from continuing operations and a loss of $ 1.85 per diluted share from discontinued 18 operations . several significant items affect the comparability of year-over-year results of continuing operations ( see `` items impacting comparability `` below ) . in fiscal 2017 , we completed the spinoff of lamb weston holdings , inc. ( `` lamb weston `` ) through a distribution of 100 % of our interest in lamb weston to holders of outstanding shares of our common stock ( the `` spinoff `` ) . the transaction effecting this change was structured as a tax-free spinoff . we also completed several other acquisitions and divestitures during the year . see `` acquisitions `` below and `` divestitures and formation of ardent mills joint venture `` below . finally , we completed the relocation of our corporate headquarters to chicago , illinois in the first quarter of fiscal 2017. in the first quarter of fiscal 2017 , in anticipation of the spinoff , we reorganized our reporting segments . we now reflect our results of operations in five reporting segments : grocery & snacks , refrigerated & frozen , international , foodservice , and commercial . the results of operations for the lamb weston business have been reclassified to results of discontinued operations for all periods presented , and the assets and liabilities of the lamb weston business have been reclassified to assets and liabilities of discontinued operations for all periods prior to the spinoff . items impacting comparability items of note impacting comparability of results from continuing operations for fiscal 2017 included the following : charges totaling $ 304.2 million ( $ 257.7 million after-tax ) related to the impairment of goodwill and other intangible assets , gains totaling $ 197.4 million ( $ 68.4 million after-tax ) from the sales of the spicetec and jm swank businesses , charges totaling $ 93.3 million ( $ 60.2 million after-tax ) related to the early retirement of debt , charges totaling $ 63.6 million ( $ 41.4 million after-tax ) in connection with the `` scae plan `` ( as defined below ) , charges totaling $ 31.4 million ( $ 19.6 million after-tax ) , including an impairment charge of $ 27.6 million related to the production assets of the business , for the planned divestiture of the wesson ® oil business , charges totaling $ 13.8 million ( $ 8.5 million after-tax ) related to a pension lump sum settlement , a gain of $ 5.7 million ( $ 3.7 million after-tax ) in connection with a legacy legal matter , an income tax benefit of $ 91.3 million related to a tax adjustment of valuation allowance associated with the planned divestiture of the wesson ® oil business , and an income tax benefit of $ 14.6 million associated with a tax planning strategy that allowed us to utilize certain state tax attributes and certain foreign incentives . items of note impacting comparability of results from continuing operations for fiscal 2016 included the following : a charge of $ 348.5 million ( $ 215.1 million after-tax ) reflecting the year-end write-off of actuarial losses in excess of 10 % of our pension liability , charges totaling $ 281.8 million ( $ 178.2 million after-tax ) in connection with the `` scae plan `` , a charge of $ 50.1 million ( $ 31.6 million after-tax ) related to the impairment of the chef boyardee ® brand , charges of $ 23.9 million ( $ 15.4 million after-tax ) related to the repurchase of certain senior notes , a charge of $ 5.0 million ( $ 3.1 million after-tax ) in connection with a legacy legal matter , and income tax expense of $ 8.3 million related to legal entity changes for a business retained from private brands and a $ 2.7 million charge for the prior year implementation of a new tax position offset by the benefit of normal , recurring , income tax credits and deductions combined with a lower pre-tax level of earnings ( due in large part to the impact of the write-off of $ 348.5 million of actuarial losses under our method of accounting for pension benefits ) . 19 segment presentation of gains and losses from derivatives used for economic hedging of anticipated commodity input costs and economic hedging of foreign currency exchange rate risks of anticipated transactions is discussed in the segment review below . acquisitions in april 2017 , we acquired protein-based snacking businesses thanasi foods llc , maker of duke 's ® meat snacks , and bigs llc , maker of bigs ® seeds , for $ 217.6 million in cash , net of cash acquired , subject to a working capital adjustment ( the `` thanasi acquisition `` ) . story_separator_special_tag international incurred an operating loss for fiscal 2017 of $ 168.9 million and earned an operating profit of $ 66.7 million in fiscal 2016 . the operating loss in fiscal 2017 includes charges totaling $ 235.9 million for the impairment of goodwill and an intangible brand asset in our canadian and mexican operations . gross profits were $ 8.5 million lower in fiscal 2017 than in fiscal 2016 , driven by the impact of foreign exchange rates . operating profits were negatively impacted by $ 9.9 million from the impact of foreign exchange rates in fiscal 2017 relative to fiscal 2016 . 24 foodservice operating profit for fiscal 2017 was $ 105.1 million , an increase of $ 7.4 million , or 8 % , compared to fiscal 2016 . gross profits were $ 5.6 million lower in fiscal 2017 than in fiscal 2016 , driven by volume declines and product supply shortfalls . this was offset by an inventory write-down in fiscal 2016 at a foreign non-core popcorn business that we have since exited . operating profit of the foodservice segment was impacted by charges of $ 1.8 million in fiscal 2017 in connection with our restructuring plans . commercial operating profit was $ 202.6 million in fiscal 2017 and $ 45.4 million in fiscal 2016 . the company sold the spicetec and jm swank businesses in the first quarter of fiscal 2017 , recognizing pre-tax gains totaling $ 197.4 million . the spicetec and jm swank businesses comprise the entire commercial segment following the presentation of lamb weston as discontinued operations . there are no further operations in the commercial segment . interest expense , net in fiscal 2017 , net interest expense was $ 195.5 million , a decrease of $ 100.3 million , or 34 % , from fiscal 2016 . the decrease reflects the repayment of $ 2.2 billion , $ 550 million , and $ 473 million of debt in the third quarter of fiscal 2016 , the first quarter of fiscal 2017 , and the third quarter of fiscal 2017 , respectively , as well as the exchange of $ 1.4 billion of debt in connection with the spinoff of lamb weston during the second quarter of 2017. for more information about the debt exchange , please see note 6 `` discontinued operations and other divestitures `` to the consolidated financial statements contained in this report . income taxes our income tax expense was $ 254.7 million and $ 46.4 million in fiscal 2017 and 2016 , respectively . the effective tax rate ( calculated as the ratio of income tax expense to pre-tax income from continuing operations , inclusive of equity method investment earnings ) was approximately 32 % and 27 % for fiscal 2017 and 2016 , respectively . the effective tax rate in fiscal 2017 reflects the following : additional tax expense associated with non-deductible goodwill sold in connection with the divestitures of the spicetec and jm swank businesses , additional tax expense associated with non-deductible goodwill in our mexican and canadian businesses , for which an impairment charge was recognized , an income tax benefit for the adjustment of a valuation allowance associated with the planned divestiture of the wesson ® oil business , an income tax benefit for excess tax benefits allowed upon the vesting/exercise of employee stock compensation awards by our employees , beyond that which is attributable to the original fair value of the awards upon the date of grant , and an income tax benefit associated with a tax planning strategy that allowed us to utilize certain state tax attributes and certain foreign incentives . the effective tax rate in fiscal 2016 reflects the following : additional tax expense related to legal entity changes for a business retained from the private brands business , a charge for the prior year implementation of a new tax position , and an income tax benefit of normal , recurring , income tax credits and deductions combined with a lower pre-tax level of earnings ( due in large part to the impact of the write-off of $ 348.5 million of actuarial losses under our method of accounting for pension benefits ) . we expect our effective tax rate in fiscal 2018 , exclusive of any unusual transactions or tax events , to be approximately 32.5 % -33.5 % . 25 equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates . our most significant affiliate is the ardent mills joint venture . our share of earnings from our equity method investment earnings were $ 71.2 million and $ 66.1 million for fiscal 2017 and 2016 , respectively . the increases are reflective of higher profits from the ardent mills joint venture due to more favorable wheat market conditions as well as improved operational effectiveness . results of discontinued operations our discontinued operations generated after-tax income of $ 102.0 million in fiscal 2017 and an after-tax loss of $ 794.4 million in fiscal 2016. results reflected the operations of lamb weston through the date of its spinoff in november 2016 , as well as the results of the private brands business prior to its divestiture in the second half of fiscal 2016. we incurred significant costs associated with effecting the spinoff . these costs are included in results of discontinued operations . we recognized a pre-tax charge of $ 1.92 billion ( $ 1.44 billion after-tax ) in fiscal 2016 , to write-down the goodwill and long-lived assets of the private brands business to the final sales price , less costs to sell , and to recognize the final loss . earnings ( loss ) per share diluted earnings per share in fiscal 2017 was $ 1.46 , including earnings of $ 1.25 per diluted share from continuing operations and $ 0.21 per diluted share from discontinued operations . diluted loss per share in fiscal 2016 was

