34 trends and outlook we expect our equity in earnings of nustar energy to increase or decrease consistent with nustar energy 's earnings . nustar energy believes that the fact that it provides both storage and pipeline services , for crude and refined products , to customers in sectors across the energy industry , throughout the country and around the world , offers some insulation from the impact of market fluctuations on its results of operations . since high crude oil prices have tended to benefit nustar energy 's producer customers , high prices have also correlated with increased demand for its crude oil pipeline services . on the other hand , depressed crude oil prices , when coupled with an industry expectation of higher prices in the future , or a contango market , has historically correlated with increased demand from trading companies for nustar energy 's storage services . because of the geographic diversity of nustar energy 's assets , its results of operations are not dependent on the regions or markets that have been hardest hit by depressed crude oil prices , the domestic shale play regions , which was demonstrated by the fact that , in 2016 , revenue from nustar energy 's eagle ford pipeline and storage assets constituted only 12 % of its total pipeline and storage segment revenue . although nustar energy 's assets in the eagle ford region have experienced lower throughputs as production has slowed , the fact that nustar energy has minimum volume throughput contracts with large , creditworthy customers has minimized the negative impact of that slowdown on its results of operations . in addition to the diversity of nustar energy 's customers , its assets , the services it offers and the markets it serves , nustar energy believes its contracts , many of which are long-term , take-or-pay arrangements for committed storage or throughput capacity , also help to blunt the impact of volatility of crude oil prices on its results of operations . in the locations at which nustar energy 's assets are integrated physically with the refineries the assets serve , nustar energy believes the results generated by those assets depend to a greater degree on the refinery 's continuing need to receive , store and transport the crude and refined products than on crude or refined product prices . for 2017 , nustar energy expects consistent volumes in its pipeline segment as any declines in crude oil pipelines are expected to be offset by higher volumes on its refined product pipelines . nustar energy is forecasting near minimum take-or-pay volumes on its south texas crude system , allowing for possible upside if production in the eagle ford region ramps up . nustar energy expects its storage segment to benefit in 2017 from favorable storage contract renewals and the martin terminal acquisition . earnings in nustar energy 's fuels marketing segment , as in any margin-based business , are subject to many factors that can increase or reduce margins , which may cause the segment 's actual results to vary significantly from nustar energy 's forecast . nustar energy 's outlook for the partnership , both overall and for any of its segments , may change , as nustar energy bases its expectations on its continuing evaluation of a number of factors , many of which are outside its control . these factors include , but are not limited to , the state of the economy and the capital markets , changes to its customers ' refinery maintenance schedules and unplanned refinery downtime , supply of and demand for crude oil , refined products and anhydrous ammonia , demand for its transportation and storage services and changes in laws or regulations affecting its assets . 35 liquidity and capital resources general our cash flows consist of distributions from nustar energy on our partnership interests , including the incentive distribution rights that we own . due to our ownership of nustar energy 's incentive distribution rights , our portion of nustar energy 's total distributions may exceed our ownership interest in nustar energy . our primary cash requirements are for distributions to members , capital contributions to maintain our 2 % general partner interest in nustar energy ( as defined in nustar energy 's partnership agreement ) in the event that nustar energy issues additional common units , debt service requirements , if any , and general and administrative expenses . in addition , because nustar gp , llc , a wholly owned subsidiary of nustar gp holdings , elected to be treated as a taxable entity in august 2006 , we may be required to pay income taxes , which may exceed the amount of tax expense recorded in the consolidated financial statements . we expect to fund our cash requirements primarily with the quarterly cash distributions we receive from nustar energy and , if necessary , borrowings under our revolving credit facility . cash distributions from nustar energy nustar energy distributes all of its available cash to its common limited partners and general partner within 45 days following the end of each quarter based on the partnership interests outstanding as of a record date that is set after the end of each quarter . available cash is generally defined as cash receipts less cash disbursements ( including distributions to holders of nustar energy 's preferred units , as defined and further discussed under the investment in nustar energy section below ) and cash reserves established by us , in our sole discretion . story_separator_special_tag however , due to the inherent uncertainty of litigation , there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on nustar energy 's results of operations and ability to pay distributions , which would impact our results of operations and ability to pay distributions . related party transactions agreements with nustar energy prior to the employee transfer , pursuant to a services agreement between nustar gp , llc and nustar energy , nustar energy reimbursed nustar gp , llc for furnishing administrative and certain operating services necessary to conduct the business of nustar energy . in conjunction with the employee transfer , nustar gp , llc entered into an amended and restated services agreement with nustar services co , a wholly owned subsidiary of nustar energy , effective march 1 , 2016 ( the amended gp services agreement ) . the amended gp services agreement provides that nustar services co will furnish administrative services necessary to conduct our business , for an annual fee of $ 1.0 million , subject to certain adjustments for merit increases and changes in level of service . the amended gp services agreement will terminate on march 1 , 2020 and will automatically renew for successive two-year terms , unless terminated by either party . please refer to note 5 of the notes to consolidated 37 financial statements in item 8 . “ financial statements and supplementary data ” for a more detailed discussion of agreements with nustar energy . employee benefit plans and unit-based compensation prior to the employee transfer , we sponsored the following employee benefit and long-term incentive plans , among others : the nustar thrift plan ; the nustar excess thrift plan ; the nustar pension plan ; the nustar excess pension plan ; the nustar gp , llc retiree welfare benefits plan ; and the 2000 long-term incentive plan . prior to the employee transfer , nustar energy reimbursed nustar gp , llc for expenses incurred related to employee benefit plans at cost , and for long-term incentive plan compensation expenses resulting from ns and nsh awards to employees and directors of nustar gp , llc . our current liabilities related to the long-term incentive plans and employee benefits were included in “ accrued compensation expense ” and our noncurrent liabilities for employee benefits were included in “ long-term liabilities ” on our consolidated balance sheet . subsequent to the employee transfer , our consolidated balance sheet no longer reflects employee-related liabilities or the corresponding receivables from nustar energy . we continue to sponsor the 2006 long-term incentive plan , under which nustar gp holdings may award up to 2,000,000 ( nsh ) units , and retain the compensation expense related to these awards . please refer to notes 14 and 15 of the notes to consolidated financial statements in item 8 . “ financial statements and supplementary data ” for a more detailed discussion of the employee benefit and long-term incentive plans . critical accounting policies the preparation of financial statements in accordance with u.s. generally accepted accounting principles requires management to select accounting policies and to make estimates and assumptions related thereto that affect the amounts reported in the consolidated financial statements and accompanying notes . actual results could differ from those estimates . the accounting policies below are considered critical due to judgments made by management and the sensitivity of these estimates to deviations of actual results from management 's assumptions . the critical accounting policies should be read in conjunction with note 2 of the notes to consolidated financial statements in item 8 . “ financial statements and supplementary data , ” which summarizes our significant accounting policies . investment in nustar energy we evaluate our investment in nustar energy for impairment if and when there is evidence that we may not be able to recover the carrying amount of our investment or that nustar energy is unable to sustain an earnings capacity that justifies the carrying amount . if a decline in the value of our investment is determined to be other than temporary , then we would record an impairment loss in the current period based on the difference between the estimated current fair value of the investment and our carrying amount . in order to determine fair value , our management must make certain estimates and assumptions regarding nustar energy 's operations , including , among other things , an assessment of market conditions , projected cash flows , interest rates and growth rates that could significantly impact the fair value of our investment . due to the significant subjectivity of the assumptions used to determine fair value , changes in market conditions and or changes in assumptions could result in significant impairment charges in the future , thus affecting our earnings . we believe that the carrying amount of our investment in nustar energy as of december 31 , 2016 is recoverable . unit-based compensation prior to the employee transfer , we accounted for awards of ns unit options , performance units and restricted units to employees and directors of nustar gp , llc and its affiliates at fair value , whereby a liability for the award was initially recorded and subsequent changes in the fair value were included in the determination of net income . the fair value of ns unit options was determined using the black-scholes model at each reporting date . the fair value of ns restricted units and performance units equaled the market price of ns common units at each reporting date . however , ns performance units were earned only upon nustar energy 's achievement of an objective performance measure . we recorded compensation expense each reporting period such that the cumulative compensation expense equaled the portion of the award 's current fair value that had vested . we recorded compensation expense related to ns unit options until such options were exercised , and we

liquidity and capital resources related party transactions critical accounting policies new accounting pronouncements our only cash generating assets are our ownership interests in nustar energy l.p. ( nustar energy ) , a publicly traded delaware limited partnership ( nyse : ns ) . as of december 31 , 2016 , we have an approximate 15 % ownership in nustar energy , consisting of the following : the general partner interest ; 100 % of the incentive distribution rights issued by nustar energy , which entitle us to receive increasing percentages of the cash distributed by nustar energy , currently at the maximum percentage of 23 % ; and 10,214,626 common units of nustar energy . we account for our ownership interest in nustar energy using the equity method . therefore , our financial results reflect a portion of nustar energy 's net income based on our ownership interest . we have no separate operating activities apart from those conducted by nustar energy and therefore generate no revenues from operations . nustar energy is engaged in the transportation of petroleum products and anhydrous ammonia , the terminalling and storage of petroleum products and the marketing of petroleum products . nustar energy has terminal and storage facilities in the united states , canada , mexico , the netherlands , including st. eustatius in the caribbean , and the united kingdom . nustar energy 's partnership agreement requires that it distribute all available cash to its common limited partners and general partner each quarter , and this term is defined in its partnership agreement generally as cash on hand at the end of the quarter , plus certain permitted borrowings made subsequent to the end of the quarter , less cash reserves determined by nustar energy 's board of directors . similarly , we are required by our limited liability company agreement to distribute all of our available cash at the end of each quarter , generally defined in our limited liability company agreement as cash on hand at the end of the quarter , less reserves established by our board of directors . recent developments employee transfer from nustar gp , llc .


 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 related party transactions critical accounting policies new accounting pronouncements our only cash generating assets are our ownership interests in nustar energy l.p. ( nustar energy ) , a publicly traded delaware limited partnership ( nyse : ns ) . as of december 31 , 2016 , we have an approximate 15 % ownership in nustar energy , consisting of the following : the general partner interest ; 100 % of the incentive distribution rights issued by nustar energy , which entitle us to receive increasing percentages of the cash distributed by nustar energy , currently at the maximum percentage of 23 % ; and 10,214,626 common units of nustar energy . we account for our ownership interest in nustar energy using the equity method . therefore , our financial results reflect a portion of nustar energy 's net income based on our ownership interest . we have no separate operating activities apart from those conducted by nustar energy and therefore generate no revenues from operations . nustar energy is engaged in the transportation of petroleum products and anhydrous ammonia , the terminalling and storage of petroleum products and the marketing of petroleum products . nustar energy has terminal and storage facilities in the united states , canada , mexico , the netherlands , including st. eustatius in the caribbean , and the united kingdom . nustar energy 's partnership agreement requires that it distribute all available cash to its common limited partners and general partner each quarter , and this term is defined in its partnership agreement generally as cash on hand at the end of the quarter , plus certain permitted borrowings made subsequent to the end of the quarter , less cash reserves determined by nustar energy 's board of directors . similarly , we are required by our limited liability company agreement to distribute all of our available cash at the end of each quarter , generally defined in our limited liability company agreement as cash on hand at the end of the quarter , less reserves established by our board of directors . recent developments employee transfer from nustar gp , llc .
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 Suspicious Activity Report : 34 trends and outlook we expect our equity in earnings of nustar energy to increase or decrease consistent with nustar energy 's earnings . nustar energy believes that the fact that it provides both storage and pipeline services , for crude and refined products , to customers in sectors across the energy industry , throughout the country and around the world , offers some insulation from the impact of market fluctuations on its results of operations . since high crude oil prices have tended to benefit nustar energy 's producer customers , high prices have also correlated with increased demand for its crude oil pipeline services . on the other hand , depressed crude oil prices , when coupled with an industry expectation of higher prices in the future , or a contango market , has historically correlated with increased demand from trading companies for nustar energy 's storage services . because of the geographic diversity of nustar energy 's assets , its results of operations are not dependent on the regions or markets that have been hardest hit by depressed crude oil prices , the domestic shale play regions , which was demonstrated by the fact that , in 2016 , revenue from nustar energy 's eagle ford pipeline and storage assets constituted only 12 % of its total pipeline and storage segment revenue . although nustar energy 's assets in the eagle ford region have experienced lower throughputs as production has slowed , the fact that nustar energy has minimum volume throughput contracts with large , creditworthy customers has minimized the negative impact of that slowdown on its results of operations . in addition to the diversity of nustar energy 's customers , its assets , the services it offers and the markets it serves , nustar energy believes its contracts , many of which are long-term , take-or-pay arrangements for committed storage or throughput capacity , also help to blunt the impact of volatility of crude oil prices on its results of operations . in the locations at which nustar energy 's assets are integrated physically with the refineries the assets serve , nustar energy believes the results generated by those assets depend to a greater degree on the refinery 's continuing need to receive , store and transport the crude and refined products than on crude or refined product prices . for 2017 , nustar energy expects consistent volumes in its pipeline segment as any declines in crude oil pipelines are expected to be offset by higher volumes on its refined product pipelines . nustar energy is forecasting near minimum take-or-pay volumes on its south texas crude system , allowing for possible upside if production in the eagle ford region ramps up . nustar energy expects its storage segment to benefit in 2017 from favorable storage contract renewals and the martin terminal acquisition . earnings in nustar energy 's fuels marketing segment , as in any margin-based business , are subject to many factors that can increase or reduce margins , which may cause the segment 's actual results to vary significantly from nustar energy 's forecast . nustar energy 's outlook for the partnership , both overall and for any of its segments , may change , as nustar energy bases its expectations on its continuing evaluation of a number of factors , many of which are outside its control . these factors include , but are not limited to , the state of the economy and the capital markets , changes to its customers ' refinery maintenance schedules and unplanned refinery downtime , supply of and demand for crude oil , refined products and anhydrous ammonia , demand for its transportation and storage services and changes in laws or regulations affecting its assets . 35 liquidity and capital resources general our cash flows consist of distributions from nustar energy on our partnership interests , including the incentive distribution rights that we own . due to our ownership of nustar energy 's incentive distribution rights , our portion of nustar energy 's total distributions may exceed our ownership interest in nustar energy . our primary cash requirements are for distributions to members , capital contributions to maintain our 2 % general partner interest in nustar energy ( as defined in nustar energy 's partnership agreement ) in the event that nustar energy issues additional common units , debt service requirements , if any , and general and administrative expenses . in addition , because nustar gp , llc , a wholly owned subsidiary of nustar gp holdings , elected to be treated as a taxable entity in august 2006 , we may be required to pay income taxes , which may exceed the amount of tax expense recorded in the consolidated financial statements . we expect to fund our cash requirements primarily with the quarterly cash distributions we receive from nustar energy and , if necessary , borrowings under our revolving credit facility . cash distributions from nustar energy nustar energy distributes all of its available cash to its common limited partners and general partner within 45 days following the end of each quarter based on the partnership interests outstanding as of a record date that is set after the end of each quarter . available cash is generally defined as cash receipts less cash disbursements ( including distributions to holders of nustar energy 's preferred units , as defined and further discussed under the investment in nustar energy section below ) and cash reserves established by us , in our sole discretion . story_separator_special_tag however , due to the inherent uncertainty of litigation , there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on nustar energy 's results of operations and ability to pay distributions , which would impact our results of operations and ability to pay distributions . related party transactions agreements with nustar energy prior to the employee transfer , pursuant to a services agreement between nustar gp , llc and nustar energy , nustar energy reimbursed nustar gp , llc for furnishing administrative and certain operating services necessary to conduct the business of nustar energy . in conjunction with the employee transfer , nustar gp , llc entered into an amended and restated services agreement with nustar services co , a wholly owned subsidiary of nustar energy , effective march 1 , 2016 ( the amended gp services agreement ) . the amended gp services agreement provides that nustar services co will furnish administrative services necessary to conduct our business , for an annual fee of $ 1.0 million , subject to certain adjustments for merit increases and changes in level of service . the amended gp services agreement will terminate on march 1 , 2020 and will automatically renew for successive two-year terms , unless terminated by either party . please refer to note 5 of the notes to consolidated 37 financial statements in item 8 . “ financial statements and supplementary data ” for a more detailed discussion of agreements with nustar energy . employee benefit plans and unit-based compensation prior to the employee transfer , we sponsored the following employee benefit and long-term incentive plans , among others : the nustar thrift plan ; the nustar excess thrift plan ; the nustar pension plan ; the nustar excess pension plan ; the nustar gp , llc retiree welfare benefits plan ; and the 2000 long-term incentive plan . prior to the employee transfer , nustar energy reimbursed nustar gp , llc for expenses incurred related to employee benefit plans at cost , and for long-term incentive plan compensation expenses resulting from ns and nsh awards to employees and directors of nustar gp , llc . our current liabilities related to the long-term incentive plans and employee benefits were included in “ accrued compensation expense ” and our noncurrent liabilities for employee benefits were included in “ long-term liabilities ” on our consolidated balance sheet . subsequent to the employee transfer , our consolidated balance sheet no longer reflects employee-related liabilities or the corresponding receivables from nustar energy . we continue to sponsor the 2006 long-term incentive plan , under which nustar gp holdings may award up to 2,000,000 ( nsh ) units , and retain the compensation expense related to these awards . please refer to notes 14 and 15 of the notes to consolidated financial statements in item 8 . “ financial statements and supplementary data ” for a more detailed discussion of the employee benefit and long-term incentive plans . critical accounting policies the preparation of financial statements in accordance with u.s. generally accepted accounting principles requires management to select accounting policies and to make estimates and assumptions related thereto that affect the amounts reported in the consolidated financial statements and accompanying notes . actual results could differ from those estimates . the accounting policies below are considered critical due to judgments made by management and the sensitivity of these estimates to deviations of actual results from management 's assumptions . the critical accounting policies should be read in conjunction with note 2 of the notes to consolidated financial statements in item 8 . “ financial statements and supplementary data , ” which summarizes our significant accounting policies . investment in nustar energy we evaluate our investment in nustar energy for impairment if and when there is evidence that we may not be able to recover the carrying amount of our investment or that nustar energy is unable to sustain an earnings capacity that justifies the carrying amount . if a decline in the value of our investment is determined to be other than temporary , then we would record an impairment loss in the current period based on the difference between the estimated current fair value of the investment and our carrying amount . in order to determine fair value , our management must make certain estimates and assumptions regarding nustar energy 's operations , including , among other things , an assessment of market conditions , projected cash flows , interest rates and growth rates that could significantly impact the fair value of our investment . due to the significant subjectivity of the assumptions used to determine fair value , changes in market conditions and or changes in assumptions could result in significant impairment charges in the future , thus affecting our earnings . we believe that the carrying amount of our investment in nustar energy as of december 31 , 2016 is recoverable . unit-based compensation prior to the employee transfer , we accounted for awards of ns unit options , performance units and restricted units to employees and directors of nustar gp , llc and its affiliates at fair value , whereby a liability for the award was initially recorded and subsequent changes in the fair value were included in the determination of net income . the fair value of ns unit options was determined using the black-scholes model at each reporting date . the fair value of ns restricted units and performance units equaled the market price of ns common units at each reporting date . however , ns performance units were earned only upon nustar energy 's achievement of an objective performance measure . we recorded compensation expense each reporting period such that the cumulative compensation expense equaled the portion of the award 's current fair value that had vested . we recorded compensation expense related to ns unit options until such options were exercised , and we

