our 2016 dividend payments are expected to be approximately $ 123 million assuming no change in the quarterly dividend rate of $ 0.25 per share or material changes in the number of shares outstanding . we made no discretionary pension contributions in 2015 or 2014 . we have no mandatory pension contributions in 2016 but may make discretionary contributions in the future . on an ongoing basis , cash income tax payments are expected to be minimal . during 2016 , we may repatriate approximately $ 23 million of proceeds received from the sale of our forestry assets to the new zealand jv when it was formed in 2005. if this occurs , we anticipate that cash payments for income taxes in 2016 will be approximately $ 1.7 million . performance and liquidity indicators the discussion below is presented to enhance the reader 's understanding of our operating performance , liquidity , ability to generate cash and satisfy rating agency and creditor requirements . this information includes two measures of financial results : adjusted earnings before interest , taxes , depreciation , depletion and amortization ( “ adjusted ebitda ” ) , and cash available for distribution ( “ cad ” ) . these measures are not defined by generally accepted accounting principles ( “ gaap ” ) and the discussion of adjusted ebitda and cad is not intended to conflict with or change any of the gaap disclosures described above . management considers these measures to be important to estimate the enterprise and shareholder values of the company as a whole and of its core segments , and for allocating capital resources . in addition , analysts , investors and creditors use these measures when analyzing our operating performance , financial condition and cash generating ability . management uses adjusted ebitda as a performance measure and cad as a liquidity measure . adjusted ebitda and cad as defined may not be comparable to similarly titled measures reported by other companies . adjusted ebitda is defined as earnings before interest , taxes , depreciation , depletion , amortization , the non-cash cost of land and real estate sold , costs related to shareholder litigation , costs related to the spin-off of the performance fibers business , discontinued operations , large dispositions , internal review and restatement costs and the gain related to consolidation of the new zealand joint venture . below is a reconciliation of net income to adjusted ebitda for the five years ended december 31 ( in millions of dollars ) : replace_table_token_30_th ( a ) previously reported adjusted ebitda for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value . ( b ) costs related to shareholder litigation include expenses incurred as a result of the securities litigation , the shareholder derivative demands and the securities and exchange commission investigation . see note 10 — contingencies . see item 6 — selected financial data for a reconciliation of adjusted ebitda to operating income by segment as well as item 7 — results of operations for an analysis of changes in adjusted ebitda from the prior year . 46 cad is a non-gaap measure of cash generated during a period which is available for dividend distribution , repurchase of the company 's common shares , debt reduction and strategic acquisitions . we define cad as cash provided by operating activities adjusted for capital spending ( excluding timberland acquisitions ) , large dispositions , cash provided by discontinued operations and working capital and other balance sheet changes . in compliance with sec requirements for non-gaap measures , we reduce cad by mandatory debt repayments which results in the measure entitled “ adjusted cad . ” adjusted cad generated in any period is not necessarily indicative of the amounts that may be generated in future periods . below is a reconciliation of cash provided by operating activities to adjusted cad for the five years ended december 31 ( in millions ) : replace_table_token_31_th replace_table_token_32_th ( a ) capital expenditures exclude timberland acquisitions of $ 98.4 million and $ 130.9 million during the years ended december 31 , 2015 and december 31 , 2014 , respectively . capital expenditures also exclude $ 139.9 million for the purchase of an additional interest in the new zealand jv and $ 20.4 million for timberland acquisitions for the year ended december 31 , 2013 . in 2012 , timberland acquisitions totaled $ 106.5 million . ( b ) previously reported cad for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value off-balance sheet arrangements we utilize off-balance sheet arrangements to provide credit support for certain suppliers and vendors in case of their default on critical obligations , and collateral for certain self-insurance programs that we maintain . these arrangements consist of standby letters of credit and surety bonds . as part of our ongoing operations , we also periodically issue guarantees to third parties . off-balance sheet arrangements are not considered a source of liquidity or capital resources and do not expose us to material risks or material unfavorable financial impacts . see note 11 — guarantees for further discussion . 47 contractual financial obligations in addition to using cash flow from operations , we finance our operations through the issuance of debt and by entering into leases . these financial obligations are recorded in accordance with accounting rules applicable to the underlying transaction , with the result that some are recorded as liabilities on the consolidated balance sheets , while others are required to be disclosed in the notes to consolidated financial statements and management story_separator_special_tag our 2016 dividend payments are expected to be approximately $ 123 million assuming no change in the quarterly dividend rate of $ 0.25 per share or material changes in the number of shares outstanding . we made no discretionary pension contributions in 2015 or 2014 . we have no mandatory pension contributions in 2016 but may make discretionary contributions in the future . on an ongoing basis , cash income tax payments are expected to be minimal . during 2016 , we may repatriate approximately $ 23 million of proceeds received from the sale of our forestry assets to the new zealand jv when it was formed in 2005. if this occurs , we anticipate that cash payments for income taxes in 2016 will be approximately $ 1.7 million . performance and liquidity indicators the discussion below is presented to enhance the reader 's understanding of our operating performance , liquidity , ability to generate cash and satisfy rating agency and creditor requirements . this information includes two measures of financial results : adjusted earnings before interest , taxes , depreciation , depletion and amortization ( “ adjusted ebitda ” ) , and cash available for distribution ( “ cad ” ) . these measures are not defined by generally accepted accounting principles ( “ gaap ” ) and the discussion of adjusted ebitda and cad is not intended to conflict with or change any of the gaap disclosures described above . management considers these measures to be important to estimate the enterprise and shareholder values of the company as a whole and of its core segments , and for allocating capital resources . in addition , analysts , investors and creditors use these measures when analyzing our operating performance , financial condition and cash generating ability . management uses adjusted ebitda as a performance measure and cad as a liquidity measure . adjusted ebitda and cad as defined may not be comparable to similarly titled measures reported by other companies . adjusted ebitda is defined as earnings before interest , taxes , depreciation , depletion , amortization , the non-cash cost of land and real estate sold , costs related to shareholder litigation , costs related to the spin-off of the performance fibers business , discontinued operations , large dispositions , internal review and restatement costs and the gain related to consolidation of the new zealand joint venture . below is a reconciliation of net income to adjusted ebitda for the five years ended december 31 ( in millions of dollars ) : replace_table_token_30_th ( a ) previously reported adjusted ebitda for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value . ( b ) costs related to shareholder litigation include expenses incurred as a result of the securities litigation , the shareholder derivative demands and the securities and exchange commission investigation . see note 10 — contingencies . see item 6 — selected financial data for a reconciliation of adjusted ebitda to operating income by segment as well as item 7 — results of operations for an analysis of changes in adjusted ebitda from the prior year . 46 cad is a non-gaap measure of cash generated during a period which is available for dividend distribution , repurchase of the company 's common shares , debt reduction and strategic acquisitions . we define cad as cash provided by operating activities adjusted for capital spending ( excluding timberland acquisitions ) , large dispositions , cash provided by discontinued operations and working capital and other balance sheet changes . in compliance with sec requirements for non-gaap measures , we reduce cad by mandatory debt repayments which results in the measure entitled “ adjusted cad . ” adjusted cad generated in any period is not necessarily indicative of the amounts that may be generated in future periods . below is a reconciliation of cash provided by operating activities to adjusted cad for the five years ended december 31 ( in millions ) : replace_table_token_31_th replace_table_token_32_th ( a ) capital expenditures exclude timberland acquisitions of $ 98.4 million and $ 130.9 million during the years ended december 31 , 2015 and december 31 , 2014 , respectively . capital expenditures also exclude $ 139.9 million for the purchase of an additional interest in the new zealand jv and $ 20.4 million for timberland acquisitions for the year ended december 31 , 2013 . in 2012 , timberland acquisitions totaled $ 106.5 million . ( b ) previously reported cad for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value off-balance sheet arrangements we utilize off-balance sheet arrangements to provide credit support for certain suppliers and vendors in case of their default on critical obligations , and collateral for certain self-insurance programs that we maintain . these arrangements consist of standby letters of credit and surety bonds . as part of our ongoing operations , we also periodically issue guarantees to third parties . off-balance sheet arrangements are not considered a source of liquidity or capital resources and do not expose us to material risks or material unfavorable financial impacts . see note 11 — guarantees for further discussion . 47 contractual financial obligations in addition to using cash flow from operations , we finance our operations through the issuance of debt and by entering into leases . these financial obligations are recorded in accordance with accounting rules applicable to the underlying transaction , with the result that some are recorded as liabilities on the consolidated balance sheets , while others are required to be disclosed in the notes to consolidated financial statements and management

liquidity facilities term credit agreement on august 5 , 2015 , the company entered into a credit agreement with cobank , acb , as administrative agent , and a syndicate of farm credit institutions and other commercial banks to provide $ 550 million of new credit facilities , including a nine-year $ 350 million term loan facility . the periodic interest rate on the term loan facility is subject to a pricing grid based on the company 's leverage ratio , as defined in the credit agreement . as of december 31 , 2015 , the periodic interest rate on the term loan facility was libor plus 1.625 % . concurrent with the closing of the facilities , the company entered into an interest rate swap transaction to fix the cost of the term loan facility over its nine-year term . the company also expects to receive annual patronage refunds , which are profit distributions made by a cooperative to its member-users based on the quantity or value of business done with the member-user . the company estimates the effective interest rate on the term loan facility to be approximately 3.3 % after consideration of the interest rate swap and estimated patronage refunds . as of december 31 , 2015 , the company had additional draws available of $ 180 million under the term loan facility . revolving credit facility in august 2015 , the company entered into a five-year $ 200 million unsecured revolving credit facility , replacing the previous $ 200 million revolving credit facility and $ 100 million farm credit facility which were scheduled to expire in april 2016 and december 2019 , respectively . the periodic interest rate on the revolving credit facility is subject to a pricing grid based on the company 's leverage ratio , as defined in the credit agreement .


 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 facilities term credit agreement on august 5 , 2015 , the company entered into a credit agreement with cobank , acb , as administrative agent , and a syndicate of farm credit institutions and other commercial banks to provide $ 550 million of new credit facilities , including a nine-year $ 350 million term loan facility . the periodic interest rate on the term loan facility is subject to a pricing grid based on the company 's leverage ratio , as defined in the credit agreement . as of december 31 , 2015 , the periodic interest rate on the term loan facility was libor plus 1.625 % . concurrent with the closing of the facilities , the company entered into an interest rate swap transaction to fix the cost of the term loan facility over its nine-year term . the company also expects to receive annual patronage refunds , which are profit distributions made by a cooperative to its member-users based on the quantity or value of business done with the member-user . the company estimates the effective interest rate on the term loan facility to be approximately 3.3 % after consideration of the interest rate swap and estimated patronage refunds . as of december 31 , 2015 , the company had additional draws available of $ 180 million under the term loan facility . revolving credit facility in august 2015 , the company entered into a five-year $ 200 million unsecured revolving credit facility , replacing the previous $ 200 million revolving credit facility and $ 100 million farm credit facility which were scheduled to expire in april 2016 and december 2019 , respectively . the periodic interest rate on the revolving credit facility is subject to a pricing grid based on the company 's leverage ratio , as defined in the credit agreement .
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 Suspicious Activity Report : our 2016 dividend payments are expected to be approximately $ 123 million assuming no change in the quarterly dividend rate of $ 0.25 per share or material changes in the number of shares outstanding . we made no discretionary pension contributions in 2015 or 2014 . we have no mandatory pension contributions in 2016 but may make discretionary contributions in the future . on an ongoing basis , cash income tax payments are expected to be minimal . during 2016 , we may repatriate approximately $ 23 million of proceeds received from the sale of our forestry assets to the new zealand jv when it was formed in 2005. if this occurs , we anticipate that cash payments for income taxes in 2016 will be approximately $ 1.7 million . performance and liquidity indicators the discussion below is presented to enhance the reader 's understanding of our operating performance , liquidity , ability to generate cash and satisfy rating agency and creditor requirements . this information includes two measures of financial results : adjusted earnings before interest , taxes , depreciation , depletion and amortization ( “ adjusted ebitda ” ) , and cash available for distribution ( “ cad ” ) . these measures are not defined by generally accepted accounting principles ( “ gaap ” ) and the discussion of adjusted ebitda and cad is not intended to conflict with or change any of the gaap disclosures described above . management considers these measures to be important to estimate the enterprise and shareholder values of the company as a whole and of its core segments , and for allocating capital resources . in addition , analysts , investors and creditors use these measures when analyzing our operating performance , financial condition and cash generating ability . management uses adjusted ebitda as a performance measure and cad as a liquidity measure . adjusted ebitda and cad as defined may not be comparable to similarly titled measures reported by other companies . adjusted ebitda is defined as earnings before interest , taxes , depreciation , depletion , amortization , the non-cash cost of land and real estate sold , costs related to shareholder litigation , costs related to the spin-off of the performance fibers business , discontinued operations , large dispositions , internal review and restatement costs and the gain related to consolidation of the new zealand joint venture . below is a reconciliation of net income to adjusted ebitda for the five years ended december 31 ( in millions of dollars ) : replace_table_token_30_th ( a ) previously reported adjusted ebitda for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value . ( b ) costs related to shareholder litigation include expenses incurred as a result of the securities litigation , the shareholder derivative demands and the securities and exchange commission investigation . see note 10 — contingencies . see item 6 — selected financial data for a reconciliation of adjusted ebitda to operating income by segment as well as item 7 — results of operations for an analysis of changes in adjusted ebitda from the prior year . 46 cad is a non-gaap measure of cash generated during a period which is available for dividend distribution , repurchase of the company 's common shares , debt reduction and strategic acquisitions . we define cad as cash provided by operating activities adjusted for capital spending ( excluding timberland acquisitions ) , large dispositions , cash provided by discontinued operations and working capital and other balance sheet changes . in compliance with sec requirements for non-gaap measures , we reduce cad by mandatory debt repayments which results in the measure entitled “ adjusted cad . ” adjusted cad generated in any period is not necessarily indicative of the amounts that may be generated in future periods . below is a reconciliation of cash provided by operating activities to adjusted cad for the five years ended december 31 ( in millions ) : replace_table_token_31_th replace_table_token_32_th ( a ) capital expenditures exclude timberland acquisitions of $ 98.4 million and $ 130.9 million during the years ended december 31 , 2015 and december 31 , 2014 , respectively . capital expenditures also exclude $ 139.9 million for the purchase of an additional interest in the new zealand jv and $ 20.4 million for timberland acquisitions for the year ended december 31 , 2013 . in 2012 , timberland acquisitions totaled $ 106.5 million . ( b ) previously reported cad for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value off-balance sheet arrangements we utilize off-balance sheet arrangements to provide credit support for certain suppliers and vendors in case of their default on critical obligations , and collateral for certain self-insurance programs that we maintain . these arrangements consist of standby letters of credit and surety bonds . as part of our ongoing operations , we also periodically issue guarantees to third parties . off-balance sheet arrangements are not considered a source of liquidity or capital resources and do not expose us to material risks or material unfavorable financial impacts . see note 11 — guarantees for further discussion . 47 contractual financial obligations in addition to using cash flow from operations , we finance our operations through the issuance of debt and by entering into leases . these financial obligations are recorded in accordance with accounting rules applicable to the underlying transaction , with the result that some are recorded as liabilities on the consolidated balance sheets , while others are required to be disclosed in the notes to consolidated financial statements and management story_separator_special_tag our 2016 dividend payments are expected to be approximately $ 123 million assuming no change in the quarterly dividend rate of $ 0.25 per share or material changes in the number of shares outstanding . we made no discretionary pension contributions in 2015 or 2014 . we have no mandatory pension contributions in 2016 but may make discretionary contributions in the future . on an ongoing basis , cash income tax payments are expected to be minimal . during 2016 , we may repatriate approximately $ 23 million of proceeds received from the sale of our forestry assets to the new zealand jv when it was formed in 2005. if this occurs , we anticipate that cash payments for income taxes in 2016 will be approximately $ 1.7 million . performance and liquidity indicators the discussion below is presented to enhance the reader 's understanding of our operating performance , liquidity , ability to generate cash and satisfy rating agency and creditor requirements . this information includes two measures of financial results : adjusted earnings before interest , taxes , depreciation , depletion and amortization ( “ adjusted ebitda ” ) , and cash available for distribution ( “ cad ” ) . these measures are not defined by generally accepted accounting principles ( “ gaap ” ) and the discussion of adjusted ebitda and cad is not intended to conflict with or change any of the gaap disclosures described above . management considers these measures to be important to estimate the enterprise and shareholder values of the company as a whole and of its core segments , and for allocating capital resources . in addition , analysts , investors and creditors use these measures when analyzing our operating performance , financial condition and cash generating ability . management uses adjusted ebitda as a performance measure and cad as a liquidity measure . adjusted ebitda and cad as defined may not be comparable to similarly titled measures reported by other companies . adjusted ebitda is defined as earnings before interest , taxes , depreciation , depletion , amortization , the non-cash cost of land and real estate sold , costs related to shareholder litigation , costs related to the spin-off of the performance fibers business , discontinued operations , large dispositions , internal review and restatement costs and the gain related to consolidation of the new zealand joint venture . below is a reconciliation of net income to adjusted ebitda for the five years ended december 31 ( in millions of dollars ) : replace_table_token_30_th ( a ) previously reported adjusted ebitda for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value . ( b ) costs related to shareholder litigation include expenses incurred as a result of the securities litigation , the shareholder derivative demands and the securities and exchange commission investigation . see note 10 — contingencies . see item 6 — selected financial data for a reconciliation of adjusted ebitda to operating income by segment as well as item 7 — results of operations for an analysis of changes in adjusted ebitda from the prior year . 46 cad is a non-gaap measure of cash generated during a period which is available for dividend distribution , repurchase of the company 's common shares , debt reduction and strategic acquisitions . we define cad as cash provided by operating activities adjusted for capital spending ( excluding timberland acquisitions ) , large dispositions , cash provided by discontinued operations and working capital and other balance sheet changes . in compliance with sec requirements for non-gaap measures , we reduce cad by mandatory debt repayments which results in the measure entitled “ adjusted cad . ” adjusted cad generated in any period is not necessarily indicative of the amounts that may be generated in future periods . below is a reconciliation of cash provided by operating activities to adjusted cad for the five years ended december 31 ( in millions ) : replace_table_token_31_th replace_table_token_32_th ( a ) capital expenditures exclude timberland acquisitions of $ 98.4 million and $ 130.9 million during the years ended december 31 , 2015 and december 31 , 2014 , respectively . capital expenditures also exclude $ 139.9 million for the purchase of an additional interest in the new zealand jv and $ 20.4 million for timberland acquisitions for the year ended december 31 , 2013 . in 2012 , timberland acquisitions totaled $ 106.5 million . ( b ) previously reported cad for 2014 , 2013 and 2011 has been restated to exclude large dispositions . large dispositions are defined as transactions involving the sale of timberland that exceed $ 20 million in size and do not have any identified hbu premium relative to timberland value off-balance sheet arrangements we utilize off-balance sheet arrangements to provide credit support for certain suppliers and vendors in case of their default on critical obligations , and collateral for certain self-insurance programs that we maintain . these arrangements consist of standby letters of credit and surety bonds . as part of our ongoing operations , we also periodically issue guarantees to third parties . off-balance sheet arrangements are not considered a source of liquidity or capital resources and do not expose us to material risks or material unfavorable financial impacts . see note 11 — guarantees for further discussion . 47 contractual financial obligations in addition to using cash flow from operations , we finance our operations through the issuance of debt and by entering into leases . these financial obligations are recorded in accordance with accounting rules applicable to the underlying transaction , with the result that some are recorded as liabilities on the consolidated balance sheets , while others are required to be disclosed in the notes to consolidated financial statements and management

