on july 5 , 2018 , commerce granted our request and revoked the countervailing duties retroactively to august 3 , 2015 , the date the tariffs were originally imposed , which will result in a refund to canadian producers of supercalendered papers of the countervailing duties previously collected on supercalendered papers imported into the united states from such producers . pursuant to the settlement agreement , irving and port hawkesbury agreed to pay us a percentage , totaling up to $ 42 million , of the duties refunded to such parties over time . during the year ended december 31 , 2018 , we received $ 42 million in settlement payments which are included in other ( income ) expense on our consolidated statements of operations . 24 sale of wickliffe mill on august 16 , 2018 , verso paper entered into a purchase agreement with global win wickliffe llc , pursuant to which verso paper agreed to sell one of verso 's subsidiaries , verso wickliffe llc ( “ verso wickliffe ” ) for a purchase price of $ 16 million in cash . verso wickliffe owned substantially all of the assets that comprised the wickliffe mill and related operations . we previously announced our decision to permanently close the wickliffe mill in april 2016. the sale closed on september 5 , 2018 , and resulted in a gain of $ 9 million , included in other operating ( income ) expense on our consolidated statements of operations for the year ended december 31 , 2018. selected factors affecting operating results net sales our sales , which we report net of rebates , allowances and discounts , are a function of the number of tons of paper that we sell and the price at which we sell our paper . paper prices historically have been a function of macro-economic factors which influence supply and demand . price has historically been substantially more variable than volume and can change significantly over relatively short time periods . we are primarily focused on serving the following end-user categories : specialty converters , containerboard converters , general commercial print , catalogs and magazine publishers . coated papers demand is primarily driven by advertising and print media usage . to offset the decline in demand for graphic papers , we are constantly looking at new product development and production improvements to reposition our assets into more stable markets with increased focus on specialty papers , packaging papers and pulp . many of our customers provide us with forecasts of their paper needs , which allows us to plan our production runs in advance , optimizing production over our integrated mill system and thereby reducing costs and increasing overall efficiency . generally , our sales agreements do not extend beyond the calendar year , and they typically provide for quarterly or semiannual price adjustments based on market price movements . we reach our end-users through several channels , including merchants , brokers , printers and direct sales to end-users . we sell our products to approximately 300 customers which comprise approximately 1,600 end-user accounts . in 2018 , our largest customer , veritiv corporation , accounted for 19 % of our net sales . cost of products sold we are subject to changes in our cost of sales caused by movements in underlying commodity prices . the principal components of our cost of sales are chemicals , wood fiber , energy , labor and maintenance . costs for commodities , including chemicals , wood fiber and energy , are the most variable component of our cost of sales because their prices can fluctuate substantially , sometimes within a relatively short period of time . in addition , our aggregate commodity purchases fluctuate based on the volume of paper that we produce . chemicals . chemicals utilized in the manufacturing of coated papers include latex , clay , starch , calcium carbonate , caustic soda , sodium chlorate and titanium dioxide . we purchase these chemicals from a variety of suppliers and are not dependent on any single supplier to satisfy our chemical needs . we expect imbalances in supply and demand to periodically create volatility in prices for certain chemicals . wood fiber . we source our wood fiber from a broad group of timberland and sawmill owners located in the regions around our mills . our cost to purchase wood is affected directly by market price of wood in our regional markets and indirectly by the effect of higher fuel cost of logging and transportation of timber to our facilities . while we have in place fiber supply agreements that ensure delivery of a substantial portion of our wood requirements , purchases under these agreements are typically at market rates . energy . we produce a significant portion of our energy needs for our paper mills from sources such as waste wood , waste water , hydroelectric facilities , liquid biomass from our pulping process and internal energy cogeneration facilities . our external energy purchases vary across each of our mills and include fuel oil , natural gas , coal and electricity . our overall energy expenditures are mitigated by our internal energy production capacity and ability to switch between certain energy sources . we also from time to time utilize derivative contracts as part of our risk management strategy to manage our exposure to market fluctuations in energy prices . 25 labor . labor cost includes wages , salary and benefit expenses attributable to our mill personnel . mill employees at a non-managerial level are compensated on an hourly basis . management employees at our mills are compensated on a salaried basis . wages , salary and benefit expenses included in cost of sales do not vary significantly from year to year . in addition , we have not experienced significant labor shortages . maintenance . story_separator_special_tag the provisions of the u.s. tax cuts and jobs act of 2017 , or the “ tax act , ” included a reduction in the corporate income tax rate from 35 % to 21 % , as well as a repeal of the alternative minimum tax and provisions allowing for the refund of any minimum tax credit carryovers . we recognized a tax benefit of $ 6 million in 2017 related to the recognition of a minimum tax credit carryover receivable . we expect to receive this refund over time starting in 2019 through 2022 . 2017 compared to 2016 net sales . net sales for the year ended december 31 , 2017 decreased by $ 180 million or 7 % compared to the prior year . this decrease was attributable to a 6 % decrease in total sales volume , from 3,149 thousand tons in 2016 to 2,959 thousand tons in 2017 , and a 1 % reduction in average price/mix from $ 839 per ton in 2016 to $ 832 per ton in 2017. the decrease in sales volume resulted in a $ 159 million decrease in revenue , while the reduced pricing , partially offset by improvement in product mix , resulted in an additional $ 21 million decrease in revenue . the decreases in volume and pricing were driven by general softening of demand for coated papers and our capacity reductions at our androscoggin mill . cost of sales . cost of products sold , excluding depreciation and amortization expenses , decreased $ 126 million or 5 % in the year ended december 31 , 2017 compared to the prior year . our gross margin , excluding depreciation and amortization expenses , was 8.6 % for the year ended december 31 , 2017 compared to 10.0 % for the year ended december 31 , 2016 reflecting an incremental decrease of $ 54 million in gross margin . gross margin was negatively impacted by lower sales volume , lower sales prices , inflation in chemicals and energy costs and inventory reduction initiatives , partially offset by lower wood fiber costs , reductions in manufacturing overhead costs and inventory fair value adjustments associated with fresh start accounting in 2016. depreciation and amortization . depreciation and amortization expenses decreased $ 78 million or 40 % from the prior year . the reduction in depreciation and amortization is attributable to the capacity reductions at our androscoggin mill , the closure of the wickliffe mill and the reduction in the carrying value of our property , plant and equipment , net , as a result of the adoption of fresh start accounting . 30 selling , general and administrative expenses . selling , general and administrative expenses for the year ended december 31 , 2017 decreased $ 42 million or 28 % compared to the prior year primarily attributable to cost reduction initiatives implemented across the company and a change in accounting policy adopted in connection with fresh start accounting related to certain centralized manufacturing overhead costs of $ 15 million previously presented in selling , general and administrative expenses of the predecessor that are now presented in cost of products sold of the successor . in addition , selling , general and administrative expenses for the year ended december 31 , 2016 included $ 6 million in costs incurred in connection with pre-reorganization advisory and legal services related to planning for the chapter 11 cases . as a percentage of net sales , selling , general and administrative expense was 4 % for the year ended december 31 , 2017 and 6 % for the year ended december 31 , 2016. restructuring charges . restructuring charges for the year ended december 31 , 2017 decreased $ 153 million from the prior year . restructuring charges for the year ended december 31 , 2017 are primarily associated with the announced closure and relocation of the memphis office headquarters and closure of the wickliffe mill . restructuring charges for the year ended december 31 , 2016 consisted primarily of non-cash fixed asset write-down charges of $ 127 million and $ 15 million of severance and benefit costs related primarily to the production capacity reductions and permanent closure of our wickliffe mill . other operating ( income ) expense . other operating income for the year ended december 31 , 2017 decreased $ 50 million , primarily attributable to the sale of hydroelectric facilities in january 2016 , partially offset by costs incurred for professional fees paid for legal , consulting and other bankruptcy related costs and services . interest expense . interest expense for the year ended december 31 , 2017 decreased $ 18 million or 32 % compared to the prior year . for the year ended december 31 , 2016 , we ceased recording interest expense as of the petition date on outstanding pre-petition debt classified as liabilities subject to compromise , or “ lstc . ” such interest on pre-petition debt was stayed by the bankruptcy court effective on the petition date . during the pendency of the bankruptcy , the predecessor incurred interest expense on its debtor-in-possession facilities . for periods subsequent to the effective date , the successor incurred interest expense on the outstanding balance of our abl facility and prior term loan facility . other ( income ) expense . other income for the year ended december 31 , 2017 and december 31 , 2016 include income of $ 14 million and $ 32 million , respectively , associated with the non-operating components of net periodic pension and other postretirement cost ( income ) in connection with the adoption of asu 2017-07 ( see note 2 to our consolidated financial statements included elsewhere in this report ) . in addition , other income for the year ended december 31 , 2017 includes $ 7 million related to the extinguishment of our obligation in december 2017 in connection with the unwind of a new market tax credit

liquidity and capital resources our principal cash requirements include ongoing operating costs : working capital needs , capital expenditures for maintenance and strategic investments and pension contributions . while changes in these ongoing operating costs can impact operating cash generation , we believe that our planning and strategies on pricing and cost control have resulted in our improved cash flows from operations in recent years . we also from time to time utilize factoring of accounts receivable ( for example , quick pay programs sponsored by customers ) as an alternative source of funds when cost is favorable to our abl facility or due to other considerations . we believe our cash and cash equivalents at december 31 , 2018 , future cash generated from operations and , to the extent necessary , the availability under our abl facility will be sufficient to meet these needs for at least the next twelve months . our ability to sustain our working capital position is subject to a number of risks that we discuss in “ part i , item 1a , risk factors , ” included elsewhere in this report . as of december 31 , 2018 , we had cash and cash equivalents of $ 26 million while the outstanding balance of our abl facility was zero , with $ 34 million issued in letters of credit and $ 283 million available for future borrowings . as of february 15 , 2019 , we had outstanding borrowings of $ 35 million under our abl facility , which reflect normal first quarter working capital activity . during the year ended december 31 , 2018 , we repaid in full our prior term loan facility .


 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 our principal cash requirements include ongoing operating costs : working capital needs , capital expenditures for maintenance and strategic investments and pension contributions . while changes in these ongoing operating costs can impact operating cash generation , we believe that our planning and strategies on pricing and cost control have resulted in our improved cash flows from operations in recent years . we also from time to time utilize factoring of accounts receivable ( for example , quick pay programs sponsored by customers ) as an alternative source of funds when cost is favorable to our abl facility or due to other considerations . we believe our cash and cash equivalents at december 31 , 2018 , future cash generated from operations and , to the extent necessary , the availability under our abl facility will be sufficient to meet these needs for at least the next twelve months . our ability to sustain our working capital position is subject to a number of risks that we discuss in “ part i , item 1a , risk factors , ” included elsewhere in this report . as of december 31 , 2018 , we had cash and cash equivalents of $ 26 million while the outstanding balance of our abl facility was zero , with $ 34 million issued in letters of credit and $ 283 million available for future borrowings . as of february 15 , 2019 , we had outstanding borrowings of $ 35 million under our abl facility , which reflect normal first quarter working capital activity . during the year ended december 31 , 2018 , we repaid in full our prior term loan facility .
```    
 Suspicious Activity Report : on july 5 , 2018 , commerce granted our request and revoked the countervailing duties retroactively to august 3 , 2015 , the date the tariffs were originally imposed , which will result in a refund to canadian producers of supercalendered papers of the countervailing duties previously collected on supercalendered papers imported into the united states from such producers . pursuant to the settlement agreement , irving and port hawkesbury agreed to pay us a percentage , totaling up to $ 42 million , of the duties refunded to such parties over time . during the year ended december 31 , 2018 , we received $ 42 million in settlement payments which are included in other ( income ) expense on our consolidated statements of operations . 24 sale of wickliffe mill on august 16 , 2018 , verso paper entered into a purchase agreement with global win wickliffe llc , pursuant to which verso paper agreed to sell one of verso 's subsidiaries , verso wickliffe llc ( “ verso wickliffe ” ) for a purchase price of $ 16 million in cash . verso wickliffe owned substantially all of the assets that comprised the wickliffe mill and related operations . we previously announced our decision to permanently close the wickliffe mill in april 2016. the sale closed on september 5 , 2018 , and resulted in a gain of $ 9 million , included in other operating ( income ) expense on our consolidated statements of operations for the year ended december 31 , 2018. selected factors affecting operating results net sales our sales , which we report net of rebates , allowances and discounts , are a function of the number of tons of paper that we sell and the price at which we sell our paper . paper prices historically have been a function of macro-economic factors which influence supply and demand . price has historically been substantially more variable than volume and can change significantly over relatively short time periods . we are primarily focused on serving the following end-user categories : specialty converters , containerboard converters , general commercial print , catalogs and magazine publishers . coated papers demand is primarily driven by advertising and print media usage . to offset the decline in demand for graphic papers , we are constantly looking at new product development and production improvements to reposition our assets into more stable markets with increased focus on specialty papers , packaging papers and pulp . many of our customers provide us with forecasts of their paper needs , which allows us to plan our production runs in advance , optimizing production over our integrated mill system and thereby reducing costs and increasing overall efficiency . generally , our sales agreements do not extend beyond the calendar year , and they typically provide for quarterly or semiannual price adjustments based on market price movements . we reach our end-users through several channels , including merchants , brokers , printers and direct sales to end-users . we sell our products to approximately 300 customers which comprise approximately 1,600 end-user accounts . in 2018 , our largest customer , veritiv corporation , accounted for 19 % of our net sales . cost of products sold we are subject to changes in our cost of sales caused by movements in underlying commodity prices . the principal components of our cost of sales are chemicals , wood fiber , energy , labor and maintenance . costs for commodities , including chemicals , wood fiber and energy , are the most variable component of our cost of sales because their prices can fluctuate substantially , sometimes within a relatively short period of time . in addition , our aggregate commodity purchases fluctuate based on the volume of paper that we produce . chemicals . chemicals utilized in the manufacturing of coated papers include latex , clay , starch , calcium carbonate , caustic soda , sodium chlorate and titanium dioxide . we purchase these chemicals from a variety of suppliers and are not dependent on any single supplier to satisfy our chemical needs . we expect imbalances in supply and demand to periodically create volatility in prices for certain chemicals . wood fiber . we source our wood fiber from a broad group of timberland and sawmill owners located in the regions around our mills . our cost to purchase wood is affected directly by market price of wood in our regional markets and indirectly by the effect of higher fuel cost of logging and transportation of timber to our facilities . while we have in place fiber supply agreements that ensure delivery of a substantial portion of our wood requirements , purchases under these agreements are typically at market rates . energy . we produce a significant portion of our energy needs for our paper mills from sources such as waste wood , waste water , hydroelectric facilities , liquid biomass from our pulping process and internal energy cogeneration facilities . our external energy purchases vary across each of our mills and include fuel oil , natural gas , coal and electricity . our overall energy expenditures are mitigated by our internal energy production capacity and ability to switch between certain energy sources . we also from time to time utilize derivative contracts as part of our risk management strategy to manage our exposure to market fluctuations in energy prices . 25 labor . labor cost includes wages , salary and benefit expenses attributable to our mill personnel . mill employees at a non-managerial level are compensated on an hourly basis . management employees at our mills are compensated on a salaried basis . wages , salary and benefit expenses included in cost of sales do not vary significantly from year to year . in addition , we have not experienced significant labor shortages . maintenance . story_separator_special_tag the provisions of the u.s. tax cuts and jobs act of 2017 , or the “ tax act , ” included a reduction in the corporate income tax rate from 35 % to 21 % , as well as a repeal of the alternative minimum tax and provisions allowing for the refund of any minimum tax credit carryovers . we recognized a tax benefit of $ 6 million in 2017 related to the recognition of a minimum tax credit carryover receivable . we expect to receive this refund over time starting in 2019 through 2022 . 2017 compared to 2016 net sales . net sales for the year ended december 31 , 2017 decreased by $ 180 million or 7 % compared to the prior year . this decrease was attributable to a 6 % decrease in total sales volume , from 3,149 thousand tons in 2016 to 2,959 thousand tons in 2017 , and a 1 % reduction in average price/mix from $ 839 per ton in 2016 to $ 832 per ton in 2017. the decrease in sales volume resulted in a $ 159 million decrease in revenue , while the reduced pricing , partially offset by improvement in product mix , resulted in an additional $ 21 million decrease in revenue . the decreases in volume and pricing were driven by general softening of demand for coated papers and our capacity reductions at our androscoggin mill . cost of sales . cost of products sold , excluding depreciation and amortization expenses , decreased $ 126 million or 5 % in the year ended december 31 , 2017 compared to the prior year . our gross margin , excluding depreciation and amortization expenses , was 8.6 % for the year ended december 31 , 2017 compared to 10.0 % for the year ended december 31 , 2016 reflecting an incremental decrease of $ 54 million in gross margin . gross margin was negatively impacted by lower sales volume , lower sales prices , inflation in chemicals and energy costs and inventory reduction initiatives , partially offset by lower wood fiber costs , reductions in manufacturing overhead costs and inventory fair value adjustments associated with fresh start accounting in 2016. depreciation and amortization . depreciation and amortization expenses decreased $ 78 million or 40 % from the prior year . the reduction in depreciation and amortization is attributable to the capacity reductions at our androscoggin mill , the closure of the wickliffe mill and the reduction in the carrying value of our property , plant and equipment , net , as a result of the adoption of fresh start accounting . 30 selling , general and administrative expenses . selling , general and administrative expenses for the year ended december 31 , 2017 decreased $ 42 million or 28 % compared to the prior year primarily attributable to cost reduction initiatives implemented across the company and a change in accounting policy adopted in connection with fresh start accounting related to certain centralized manufacturing overhead costs of $ 15 million previously presented in selling , general and administrative expenses of the predecessor that are now presented in cost of products sold of the successor . in addition , selling , general and administrative expenses for the year ended december 31 , 2016 included $ 6 million in costs incurred in connection with pre-reorganization advisory and legal services related to planning for the chapter 11 cases . as a percentage of net sales , selling , general and administrative expense was 4 % for the year ended december 31 , 2017 and 6 % for the year ended december 31 , 2016. restructuring charges . restructuring charges for the year ended december 31 , 2017 decreased $ 153 million from the prior year . restructuring charges for the year ended december 31 , 2017 are primarily associated with the announced closure and relocation of the memphis office headquarters and closure of the wickliffe mill . restructuring charges for the year ended december 31 , 2016 consisted primarily of non-cash fixed asset write-down charges of $ 127 million and $ 15 million of severance and benefit costs related primarily to the production capacity reductions and permanent closure of our wickliffe mill . other operating ( income ) expense . other operating income for the year ended december 31 , 2017 decreased $ 50 million , primarily attributable to the sale of hydroelectric facilities in january 2016 , partially offset by costs incurred for professional fees paid for legal , consulting and other bankruptcy related costs and services . interest expense . interest expense for the year ended december 31 , 2017 decreased $ 18 million or 32 % compared to the prior year . for the year ended december 31 , 2016 , we ceased recording interest expense as of the petition date on outstanding pre-petition debt classified as liabilities subject to compromise , or “ lstc . ” such interest on pre-petition debt was stayed by the bankruptcy court effective on the petition date . during the pendency of the bankruptcy , the predecessor incurred interest expense on its debtor-in-possession facilities . for periods subsequent to the effective date , the successor incurred interest expense on the outstanding balance of our abl facility and prior term loan facility . other ( income ) expense . other income for the year ended december 31 , 2017 and december 31 , 2016 include income of $ 14 million and $ 32 million , respectively , associated with the non-operating components of net periodic pension and other postretirement cost ( income ) in connection with the adoption of asu 2017-07 ( see note 2 to our consolidated financial statements included elsewhere in this report ) . in addition , other income for the year ended december 31 , 2017 includes $ 7 million related to the extinguishment of our obligation in december 2017 in connection with the unwind of a new market tax credit

