pursuant to the fgl merger agreement , except for certain shares specified in the fgl merger agreement , each issued and outstanding share of common stock of fgl was automatically cancelled and converted into the right to receive $ 31.10 in cash . the total consideration received by hrg as a result of the completion of the fgl merger was $ 1,488.3 million . in addition , pursuant to a share purchase agreement , on november 30 , 2017 , front street re ( delaware ) ltd. sold to the cf entities all of the issued and outstanding shares of front street for $ 65.0 million , which was subject to reduction for customary transaction expenses . refer to note 3 – divestitures in notes to the consolidated financial statements , included elsewhere in this annual report , for further discussion pertaining to the divestitures . spectrum merger on july 13 , 2018 , sbh ( formerly hrg ) closed its agreement and plan of merger with its majority owned subsidiary , spectrum brands legacy , inc. ( “ spectrum legacy ” , formerly spectrum brands holdings , inc. ) . sbh incurred significant transaction costs associated with the spectrum merger that impacted the comparability of the consolidated results of operations . effective as of the closing date of the spectrum merger , management and control of the organization was assumed by its majority-owned subsidiary , spectrum , and the company continues to operate as the consumer products company that was principally conducted by its majority owned subsidiary . see note 4 – acquisitions in notes to the consolidated financial statements , included elsewhere in this annual report , for more information on the spectrum merger and associated transaction costs . additionally , as a result of the spectrum merger , hrg and spectrum legacy joined in the filing of u.s. consolidated tax returns starting july 13 , 2018. the form of the spectrum merger allowed for the hrg capital and net operating loss carryforwards to be used to offset future income and the u.s. tax gain on the sale of the gbl business to energizer . as a result , sbh released $ 365.3 million of valuation allowance on its net deferred tax assets since it became more likely than not that the assets will be realized . restructuring activity we continually seek to improve our operational efficiency , match our manufacturing capacity and product costs to market demand and better utilize our manufacturing resources . we have undertaken various initiatives to reduce manufacturing and operating costs . the most significant of these initiatives are :  global productivity improvement plan , which began at the start of the year ended september 30 , 2019 and is anticipated to be completed by september 2022 .  hhi distribution center consolidation , which began during the second quarter of the year ended september 30 , 2017 and was closed in december 2018 .  gpc rightsizing initiative which began during the second quarter of the year ended september 30 , 2017 and was closed in september 2018. see note 5 - restructuring and related charges in the notes to the consolidated financial statements , included elsewhere within this annual report , for additional detail regarding restructuring and related activity . ‎ 31 refinancing activity the following recent financing activity has a significant impact on the comparability of financial results on the consolidated financial statements .  during the year ended september 30 , 2019 , the company ( 1 ) repaid $ 452.6 million of its 6.625 % senior unsecured notes with an outstanding principal of $ 570.0 million , consisting of a repayment of $ 285.0 million on march 31 , 2019 plus a repayment of $ 167.6 million on september 24 , 2019 using proceeds from the gac divestitures ; ( 2 ) issued $ 300.0 million of 5.00 % senior unsecured notes due september 2029 ; ( 3 ) repaid its 7.75 % senior unsecured notes in full on january 30 , 2019 using proceeds received from the gbl and gac divestitures ; ( 4 ) repaid its usd term loan in full on january 4 , 2019 using proceeds received from the divestiture of gbl ; and ( 5 ) repaid its cad term loan in full on october 31 , 2018 .  during the year ended september 30 , 2018 , hrg ( 1 ) paid off $ 92.0 million aggregate principal amount of the hgi energy notes ; ( 2 ) redeemed all $ 864.4 million outstanding principal amount of its 7.875 % senior secured notes due 2019 at a redemption price equal to 100 % of the principal amount , plus accrued and unpaid interest to the redemption rate ; and ( 3 ) paid off $ 50.0 million aggregate principal amount of a hgi funding loan due july 13 , 2018 .  during the year ended september 30 , 2017 , spectrum legacy refinanced a portion of its debt to extend maturities and reduce borrowing costs including entering into various amendments to the credit agreement under its term loans resulting in an increase to the usd term loan , repayment of the euro term loan , increase in the capacity of the revolver facility and changes to the applicable variable interest rates . see note 12 - debt in the notes to the consolidated financial statements , included elsewhere within this annual report , for additional detail regarding debt . safety recall on june 10 , 2017 , the company initiated a voluntary safety recall of various rawhide chew products for dogs sold by the company 's gpc segment due to possible chemical contamination . story_separator_special_tag this expense was partially offset by a $ 48.0 million tax benefit from recalculating our liability for the one-time deemed mandatory repatriation of post-1986 undistributed foreign subsidiary earnings and profits after application of the regulations and the final calculations for its fiscal 2018 federal income tax returns , including our ability to offset the liability in part by foreign tax credits . the income recognized as a result of the regulations , the u.s. gain on the sale of the battery business , and the u.s. operating results for the year ended september 30 , 2019 have made it more likely than not that we can use certain federal net operating losses subject to ownership change limitations . we therefore released $ 36.7 million of valuation allowance related to these net operating losses during the year ended september 30 , 2019. our effective tax rate for the year ended september 30 , 2018 was significantly impacted by the tax reform act and the release of valuation allowances over capital and net operating loss carryforwards due to completion of the spectrum merger . the tax reform act permanently reduces the u.s. corporate income tax rate from a maximum of 35 % to a flat 21 % rate , effective january 1 , 2018. we released $ 371.7 million of valuation allowance on its u.s. federal net deferred tax assets since it was more likely than not that the assets will be realized and recorded valuation allowance of $ 6.1 million on non-u.s. net deferred tax assets . as a result of the tax reform act , the company recorded $ 166.7 million of tax benefit for restatement of u.s. deferred tax assets and liabilities and a provisional $ 73.1 million of income tax expense for the one-time deemed mandatory repatriation . our effective tax rate for the year ended september 30 , 2017 differs from the u.s federal statutory rate of 35 % due to income earned outside the u.s. that is subject to statutory rates lower than 35 % . additionally , we recognized a $ 36.1 million tax benefit for changes in our assessment over our ability to effectively repatriate tax-free non-u.s. earnings upon which liabilities were previously recorded , and a $ 9.3 million tax benefit for the recognition of additional federal and state tax credits . we also recorded a $ 14.7 million valuation allowance on additional state net operating losses that more likely than not will expire unused . see note 16 – income taxes in notes to the consolidated financial statements , included elsewhere within this annual report for additional detail . income from discontinued operations . discontinued operations includes the results of operations , financial position and cash flows for the following businesses that are reported separately as discontinued operations : ( 1 ) gbl that was classified as held for sale effective december 29 , 2017 and reported as a component of discontinued operations for all periods presented through the close of sale on january 2 , 2019 ; ( 2 ) gac that was classified as held for sale effective october 29 , 2018 , subsequent to the balance sheet date of september 30 , 2018 , and retroactively recasted as a component of discontinued operations for all periods presented through the close of sale on january 28 , 2019 ; and ( 3 ) hrg insurance operations , for all periods presented through the close of sale on november 30 , 2017. see note 3 – divestitures in notes to the consolidated financial statements , included elsewhere in this annual report , for more information on the divestitures and the assets and liabilities classified as held for sale . ﻿ income from discontinued operations , net of tax , for the year ended september 30 , 2019 increased $ 214.9 million due to gbl income of $ 974.9 million , which includes recognition of $ 989.8 million of pre-tax gain on the sale of gbl operations , net of reclassified accumulated other comprehensive loss realized of $ 18.5 million ; offset by a loss on sale of gac discontinued operations primarily attributable to a write-down of net assets to fair value of $ 115.7 million , net reclassified accumulated other comprehensive gain realized of $ 3.3 million ; net tax expense of $ 199.3 million associated with the gbl and gac divestitures ; plus $ 476.4 million of pre-tax gain on fgl discontinued operations in the prior year primarily attributable to the recognition of $ 445.9 million to reclassify accumulated other comprehensive income related to fgl , that was previously included in equity ; offset by the recognition of a write-down on net assets of $ 14.2 million upon completion of sale . income from discontinued operations , net of tax , for the year ended september 30 , 2018 increased $ 155.7 million , or 53.8 % , due to the decrease in income from gbl discontinued operations of $ 62.7 million , decrease in income from gac discontinued operations of $ 126.4 million and increase in income from fgl discontinued operations of $ 189.3 million . the decrease in income from gbl discontinued operations is primarily attributable to incremental transaction related costs that was recognized for the planned divestitures , increased operating expenses for selling and marketing activities and increased interest expense allocated to discontinued operations from increased variable rates . the decrease in income from gac discontinued operations is primarily attributable the recognition of a goodwill impairment of $ 92.5 million , operating inefficiencies driven by restructuring initiatives to consolidated domestic operations , new product development and marketing costs , higher material costs and unfavorable product mix . the increase in income from fgl is primarily attributable to the recognition of $ 445.9 million to reclassify accumulated other comprehensive income related to fgl , that was previously included in equity ; offset by the recognition of a write-down on net assets of $ 14.2 million on fgl and

cash flows from financing activities cash flows used by financing activities for sbh continuing operations increased $ 1,316.7 million for the year ended september 30 , 2019 due to the incremental debt repayment , treasury share repurchase activity and dividend payments to sbh shareholders after completion of the spectrum merger partially offset by new debt issuance . cash flows used by financing activities for sbh continuing operations increased $ 1,117.3 million for the year ended september 30 , 2018 due to reduced proceeds from debt , incremental debt repayment , and dividend payments to sbh shareholders after completion of the spectrum merger . cash flows provided by financing activities for sb/rh continuing operations decreased $ 2,783.5 million for the year ended september 30 , 2019 due to the incremental debt repayment , incremental dividend payments to parent company , partially offset by new debt issuance . cash flows provided by financing activities for sb/rh continuing operations increased $ 422.2 million for the year ended september 30 , 2018 due to incremental proceeds from the issuance of debt with its parent company , lower payment on debt ; offset by increased dividend payments to parent company . ‎ 43 debt during the year ended september 30 , 2019 , the company made $ 2,649.9 million of payment on debts , including the redemption of the usd term loans of $ 1,231.7 million , 7.75 % notes of $ 890.0 million with a premium on extinguishment of $ 26.4 million , partial paydown of 6.625 % notes of $ 452.6 million with payment of early extinguishment of $ 9.2 million , cad term loan of $ 32.6 million , and other debt payments of $ 16.6 million . during the year ended september 30 , 2019 , the company recognized incremental proceed from the issuance of debt due to the issuance of $ 300 million of 5.00 % senior notes . during the year ended september 30 , 2018 , the company recognized reduced proceeds from the issuance of debt financing of $ 296.0 million primarily due to the issuance of usd term loan debt and hgi funding 2017 loan in the prior year .


 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.
     ```cash flows from financing activities cash flows used by financing activities for sbh continuing operations increased $ 1,316.7 million for the year ended september 30 , 2019 due to the incremental debt repayment , treasury share repurchase activity and dividend payments to sbh shareholders after completion of the spectrum merger partially offset by new debt issuance . cash flows used by financing activities for sbh continuing operations increased $ 1,117.3 million for the year ended september 30 , 2018 due to reduced proceeds from debt , incremental debt repayment , and dividend payments to sbh shareholders after completion of the spectrum merger . cash flows provided by financing activities for sb/rh continuing operations decreased $ 2,783.5 million for the year ended september 30 , 2019 due to the incremental debt repayment , incremental dividend payments to parent company , partially offset by new debt issuance . cash flows provided by financing activities for sb/rh continuing operations increased $ 422.2 million for the year ended september 30 , 2018 due to incremental proceeds from the issuance of debt with its parent company , lower payment on debt ; offset by increased dividend payments to parent company . ‎ 43 debt during the year ended september 30 , 2019 , the company made $ 2,649.9 million of payment on debts , including the redemption of the usd term loans of $ 1,231.7 million , 7.75 % notes of $ 890.0 million with a premium on extinguishment of $ 26.4 million , partial paydown of 6.625 % notes of $ 452.6 million with payment of early extinguishment of $ 9.2 million , cad term loan of $ 32.6 million , and other debt payments of $ 16.6 million . during the year ended september 30 , 2019 , the company recognized incremental proceed from the issuance of debt due to the issuance of $ 300 million of 5.00 % senior notes . during the year ended september 30 , 2018 , the company recognized reduced proceeds from the issuance of debt financing of $ 296.0 million primarily due to the issuance of usd term loan debt and hgi funding 2017 loan in the prior year .
```    
 Suspicious Activity Report : pursuant to the fgl merger agreement , except for certain shares specified in the fgl merger agreement , each issued and outstanding share of common stock of fgl was automatically cancelled and converted into the right to receive $ 31.10 in cash . the total consideration received by hrg as a result of the completion of the fgl merger was $ 1,488.3 million . in addition , pursuant to a share purchase agreement , on november 30 , 2017 , front street re ( delaware ) ltd. sold to the cf entities all of the issued and outstanding shares of front street for $ 65.0 million , which was subject to reduction for customary transaction expenses . refer to note 3 – divestitures in notes to the consolidated financial statements , included elsewhere in this annual report , for further discussion pertaining to the divestitures . spectrum merger on july 13 , 2018 , sbh ( formerly hrg ) closed its agreement and plan of merger with its majority owned subsidiary , spectrum brands legacy , inc. ( “ spectrum legacy ” , formerly spectrum brands holdings , inc. ) . sbh incurred significant transaction costs associated with the spectrum merger that impacted the comparability of the consolidated results of operations . effective as of the closing date of the spectrum merger , management and control of the organization was assumed by its majority-owned subsidiary , spectrum , and the company continues to operate as the consumer products company that was principally conducted by its majority owned subsidiary . see note 4 – acquisitions in notes to the consolidated financial statements , included elsewhere in this annual report , for more information on the spectrum merger and associated transaction costs . additionally , as a result of the spectrum merger , hrg and spectrum legacy joined in the filing of u.s. consolidated tax returns starting july 13 , 2018. the form of the spectrum merger allowed for the hrg capital and net operating loss carryforwards to be used to offset future income and the u.s. tax gain on the sale of the gbl business to energizer . as a result , sbh released $ 365.3 million of valuation allowance on its net deferred tax assets since it became more likely than not that the assets will be realized . restructuring activity we continually seek to improve our operational efficiency , match our manufacturing capacity and product costs to market demand and better utilize our manufacturing resources . we have undertaken various initiatives to reduce manufacturing and operating costs . the most significant of these initiatives are :  global productivity improvement plan , which began at the start of the year ended september 30 , 2019 and is anticipated to be completed by september 2022 .  hhi distribution center consolidation , which began during the second quarter of the year ended september 30 , 2017 and was closed in december 2018 .  gpc rightsizing initiative which began during the second quarter of the year ended september 30 , 2017 and was closed in september 2018. see note 5 - restructuring and related charges in the notes to the consolidated financial statements , included elsewhere within this annual report , for additional detail regarding restructuring and related activity . ‎ 31 refinancing activity the following recent financing activity has a significant impact on the comparability of financial results on the consolidated financial statements .  during the year ended september 30 , 2019 , the company ( 1 ) repaid $ 452.6 million of its 6.625 % senior unsecured notes with an outstanding principal of $ 570.0 million , consisting of a repayment of $ 285.0 million on march 31 , 2019 plus a repayment of $ 167.6 million on september 24 , 2019 using proceeds from the gac divestitures ; ( 2 ) issued $ 300.0 million of 5.00 % senior unsecured notes due september 2029 ; ( 3 ) repaid its 7.75 % senior unsecured notes in full on january 30 , 2019 using proceeds received from the gbl and gac divestitures ; ( 4 ) repaid its usd term loan in full on january 4 , 2019 using proceeds received from the divestiture of gbl ; and ( 5 ) repaid its cad term loan in full on october 31 , 2018 .  during the year ended september 30 , 2018 , hrg ( 1 ) paid off $ 92.0 million aggregate principal amount of the hgi energy notes ; ( 2 ) redeemed all $ 864.4 million outstanding principal amount of its 7.875 % senior secured notes due 2019 at a redemption price equal to 100 % of the principal amount , plus accrued and unpaid interest to the redemption rate ; and ( 3 ) paid off $ 50.0 million aggregate principal amount of a hgi funding loan due july 13 , 2018 .  during the year ended september 30 , 2017 , spectrum legacy refinanced a portion of its debt to extend maturities and reduce borrowing costs including entering into various amendments to the credit agreement under its term loans resulting in an increase to the usd term loan , repayment of the euro term loan , increase in the capacity of the revolver facility and changes to the applicable variable interest rates . see note 12 - debt in the notes to the consolidated financial statements , included elsewhere within this annual report , for additional detail regarding debt . safety recall on june 10 , 2017 , the company initiated a voluntary safety recall of various rawhide chew products for dogs sold by the company 's gpc segment due to possible chemical contamination . story_separator_special_tag this expense was partially offset by a $ 48.0 million tax benefit from recalculating our liability for the one-time deemed mandatory repatriation of post-1986 undistributed foreign subsidiary earnings and profits after application of the regulations and the final calculations for its fiscal 2018 federal income tax returns , including our ability to offset the liability in part by foreign tax credits . the income recognized as a result of the regulations , the u.s. gain on the sale of the battery business , and the u.s. operating results for the year ended september 30 , 2019 have made it more likely than not that we can use certain federal net operating losses subject to ownership change limitations . we therefore released $ 36.7 million of valuation allowance related to these net operating losses during the year ended september 30 , 2019. our effective tax rate for the year ended september 30 , 2018 was significantly impacted by the tax reform act and the release of valuation allowances over capital and net operating loss carryforwards due to completion of the spectrum merger . the tax reform act permanently reduces the u.s. corporate income tax rate from a maximum of 35 % to a flat 21 % rate , effective january 1 , 2018. we released $ 371.7 million of valuation allowance on its u.s. federal net deferred tax assets since it was more likely than not that the assets will be realized and recorded valuation allowance of $ 6.1 million on non-u.s. net deferred tax assets . as a result of the tax reform act , the company recorded $ 166.7 million of tax benefit for restatement of u.s. deferred tax assets and liabilities and a provisional $ 73.1 million of income tax expense for the one-time deemed mandatory repatriation . our effective tax rate for the year ended september 30 , 2017 differs from the u.s federal statutory rate of 35 % due to income earned outside the u.s. that is subject to statutory rates lower than 35 % . additionally , we recognized a $ 36.1 million tax benefit for changes in our assessment over our ability to effectively repatriate tax-free non-u.s. earnings upon which liabilities were previously recorded , and a $ 9.3 million tax benefit for the recognition of additional federal and state tax credits . we also recorded a $ 14.7 million valuation allowance on additional state net operating losses that more likely than not will expire unused . see note 16 – income taxes in notes to the consolidated financial statements , included elsewhere within this annual report for additional detail . income from discontinued operations . discontinued operations includes the results of operations , financial position and cash flows for the following businesses that are reported separately as discontinued operations : ( 1 ) gbl that was classified as held for sale effective december 29 , 2017 and reported as a component of discontinued operations for all periods presented through the close of sale on january 2 , 2019 ; ( 2 ) gac that was classified as held for sale effective october 29 , 2018 , subsequent to the balance sheet date of september 30 , 2018 , and retroactively recasted as a component of discontinued operations for all periods presented through the close of sale on january 28 , 2019 ; and ( 3 ) hrg insurance operations , for all periods presented through the close of sale on november 30 , 2017. see note 3 – divestitures in notes to the consolidated financial statements , included elsewhere in this annual report , for more information on the divestitures and the assets and liabilities classified as held for sale . ﻿ income from discontinued operations , net of tax , for the year ended september 30 , 2019 increased $ 214.9 million due to gbl income of $ 974.9 million , which includes recognition of $ 989.8 million of pre-tax gain on the sale of gbl operations , net of reclassified accumulated other comprehensive loss realized of $ 18.5 million ; offset by a loss on sale of gac discontinued operations primarily attributable to a write-down of net assets to fair value of $ 115.7 million , net reclassified accumulated other comprehensive gain realized of $ 3.3 million ; net tax expense of $ 199.3 million associated with the gbl and gac divestitures ; plus $ 476.4 million of pre-tax gain on fgl discontinued operations in the prior year primarily attributable to the recognition of $ 445.9 million to reclassify accumulated other comprehensive income related to fgl , that was previously included in equity ; offset by the recognition of a write-down on net assets of $ 14.2 million upon completion of sale . income from discontinued operations , net of tax , for the year ended september 30 , 2018 increased $ 155.7 million , or 53.8 % , due to the decrease in income from gbl discontinued operations of $ 62.7 million , decrease in income from gac discontinued operations of $ 126.4 million and increase in income from fgl discontinued operations of $ 189.3 million . the decrease in income from gbl discontinued operations is primarily attributable to incremental transaction related costs that was recognized for the planned divestitures , increased operating expenses for selling and marketing activities and increased interest expense allocated to discontinued operations from increased variable rates . the decrease in income from gac discontinued operations is primarily attributable the recognition of a goodwill impairment of $ 92.5 million , operating inefficiencies driven by restructuring initiatives to consolidated domestic operations , new product development and marketing costs , higher material costs and unfavorable product mix . the increase in income from fgl is primarily attributable to the recognition of $ 445.9 million to reclassify accumulated other comprehensive income related to fgl , that was previously included in equity ; offset by the recognition of a write-down on net assets of $ 14.2 million on fgl and

