for long-lived assets to be held and used , we base our evaluation on impairment indicators such as the nature of the assets , the future economic benefits of the assets , any historical or future profitability measurements and other external market conditions or factors that may be present . if such impairment indicators are present or other factors exist that indicate that the carrying amount of an asset may not be recoverable , we determine whether an impairment has occurred through the use of an undiscounted cash flows analysis of the asset at the lowest level for which identifiable cash flows exist . if an impairment has occurred , we recognize a loss for the difference between the carrying amount and the fair value of the asset . for assets held for sale or disposal , the fair value of the asset is measured using fair market value less cost to sell . assets are classified as held-for-sale when we have a plan for disposal of certain assets and those assets meet the held for sale criteria . we charge the costs of repair and maintenance of property and equipment to operations as incurred , while we capitalize the costs of improvements that extend asset lives or functionality . goodwill . in our annual evaluation of goodwill for impairment , we first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount . if , after assessing the totality of events or circumstances , we determine it is more likely than not that the fair value of a reporting unit exceeds its carrying amount , performing the two-step impairment test is unnecessary . however , if we conclude otherwise , then we are required to perform the first step of the two-step impairment test . we estimate fair value of the reporting units using both an income approach , which considers a discounted cash flow model , and a market approach . reductions in estimates of our future cash flows or adverse changes in market comparable information may result in goodwill impairments in the future . for reporting units with goodwill , we do not believe our goodwill will be impaired during 2017 . income taxes . our tax provisions are based on our expected taxable income , statutory rates and tax-planning opportunities available to us in the various jurisdictions in which we operate . determination of taxable income in any jurisdiction requires the interpretation of the related tax laws . we are at risk that a taxing authority 's final determination of our tax liabilities may differ from our interpretation . our effective tax rate may fluctuate from year to year as our operations are conducted in different taxing jurisdictions , the amount of pre-tax income fluctuates , the amounts of foreign income we anticipate will be repatriated and our estimates regarding the realizability of items such as foreign tax credits may change . we consider $ 623 million of unremitted earnings of our foreign subsidiaries to be indefinitely reinvested . we believe we have the ability to indefinitely reinvest these foreign earnings based on our expectations of profitability for our u.s. operations over the long term , our significant u.s. liquidity , and the amount of unremitted earnings of our foreign subsidiaries not considered indefinitely reinvested , for which we have provided deferred income taxes . we account for any applicable interest and penalties on uncertain tax positions as a component of our provision for income taxes on our financial statements . current income tax expense represents either nonresident withholding taxes or the liabilities expected to be reflected on our income tax returns for the current year , while the net deferred income tax expense or benefit represents the change in the balance of deferred tax assets or liabilities as reported on our balance sheet . we establish valuation allowances to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized in the future . while we have considered estimated future taxable income and ongoing prudent and feasible tax-planning strategies in assessing the need for the valuation allowances , changes in these estimates and assumptions , as well as changes in tax laws , could require us to provide for valuation allowances for our deferred tax assets . provisions for valuation allowances impact our income tax provision in the period in which such adjustments are identified and recorded . we established a deferred tax asset valuation allowance of $ 4.2 million in 2016 related to the realizability of loss carryforwards in certain of our foreign jurisdictions . 30 in march 2016 , the fasb issued asu 2016-09 , `` compensation – stock compensation improvements to employee share-based payment accounting . `` this update requires that all excess tax benefits and tax deficiencies ( including tax benefits of dividends on share-based payment awards ) should be recognized as income tax expense or benefit in the income statement . the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur . an entity also should recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period . currently , an entity must determine , for each award , whether the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes results in either an excess tax benefit or a tax deficiency . story_separator_special_tag the december 2014 program calls for the repurchases to be made in the open market , or in privately negotiated transactions from time to time , in compliance with applicable laws , rules and regulations , including rule 10b-18 under the securities exchange act of 1934 , as amended , subject to market and business conditions , levels of available liquidity , cash requirements for other purposes , applicable legal requirements and other relevant factors . the timing and amount of any repurchases will be determined by our management based on its evaluation of these factors . we expect that any shares repurchased under the new program will be held as treasury stock for future possible use . the new program does not obligate us to repurchase any particular number of shares . through december 31 , 2015 under the new program , we repurchased 2 million shares of our common stock for $ 100 million . we did not repurchase any shares in 2016 . as of december 31 , 2016 , we retained 12.8 million of the shares we had repurchased . we expect to hold the shares repurchased for future use . because of our significant foreign operations , we are exposed to currency fluctuations and exchange rate risks . we generally minimize these risks primarily through matching , to the extent possible , revenue and expense in the various currencies in which we operate . cumulative translation adjustments as of december 31 , 2016 relate primarily to our net investments in , including long-term loans to , our foreign subsidiaries . a stronger u.s. dollar against the u.k. pound sterling , norwegian kroner and brazilian real would result in lower operating income . see item 7a – `` quantitative and qualitative disclosures about market risk . `` 34 results of operations additional information on our business segments is shown in note 7 of the notes to consolidated financial statements included in this report . oilfield . the table that follows sets out revenue and profitability for the business segments within our oilfield business . in the rov section of the table that follows , `` days available `` includes all days from the first day that an rov is placed in service until the rov is retired . all days in this period are considered available days , including periods when an rov is undergoing maintenance or repairs . our rovs do not have scheduled maintenance or repair that requires significant time when the rovs are not available for utilization . replace_table_token_12_th 35 historically , we built new rovs to increase the size of our fleet in response to demand to support deepwater drilling and vessel-based inspection , maintenance and repair ( `` imr `` ) and installation work . in 2015 , as a result of declining market conditions , we began building fewer rovs , primarily to meet contractual commitments . these vehicles are designed for use around the world in water depths of 10,000 feet or more . we added 6 , 16 and 49 rovs in 2016 , 2015 and 2014 , respectively , while retiring 94 units over the three-year period and transferring one to our advanced technologies segment over that period . our rov fleet size was 280 at december 31 , 2016 , 315 at december 31 , 2015 and 336 at december 31 , 2014 . we have decreased our rov fleet size over the last two years as a result of lower market demand . our rov operating income decreased in the year ended december 31 , 2016 compared to the prior year , as a result of lower days on hire and lower average revenue per day-on-hire , as well as inventory write-downs and fixed asset write-offs totaling $ 36.0 million in 2016. during 2016 , the leading indicator for deepwater activity , contracted floating rigs , continued to decline as the rate of rigs being idled , either by contract termination or expiration , continued . this prevailing market condition required us to reassess the number of rovs we had in our fleet , as well as the associated inventory . as a result of our reassessment , in 2016 we recorded $ 36.0 million of charges consisting of : ( 1 ) $ 25.2 million for a reserve for excess inventory ; and ( 2 ) $ 10.8 million for the retirement of 39 rovs . during 2016 we also incurred charges related to restructuring expenses of $ 3.8 million and bad debt expenses of $ 1.2 million . for 2015 , our rov revenue and operating income declined from 2014 from lower demand for drill support services and a reduction in average revenue per day across all our geographic areas of operation . rov days on hire decreased by 15 % and revenue per day on hire decreased 11 % . in 2015 , our rov cost of services and products included inventory write-downs of $ 15.7 million , restructuring expenses of $ 7.2 million and rov retirements resulting in write-offs of $ 2.9 million . the inventory write downs were due to excess inventory , which we do not anticipate using given current and forecast market conditions . the restructuring expenses related to severance costs for incurred and designated future workforce reductions and costs associated with closing excess facilities . the write-offs were necessitated as a result of our retiring an unusually large number of rovs in 2015 due to market prospects for these vehicles . in our financial statements , the charges incurred in both 2016 and 2015 are reflected in our cost of services and products , except for the charges related to bad debts , which are reflected in general and administrative expenses . we anticipate rov operating income to decrease in 2017 as a result of decreases in average revenue per day on hire and the number of days on hire for drilling support services , attributable to

liquidity and capital resources we consider our liquidity and capital resources adequate to support our operations and growth initiatives . at december 31 , 2016 , we had working capital of $ 754 million , including cash and cash equivalents of $ 450 million . additionally , we had $ 500 million available through our revolving credit facility under a credit agreement ( as amended , the `` credit agreement '' ) , which is scheduled to expire on october 25 , 2021 . in october 2014 , we entered into the credit agreement with a group of banks to replace our prior principal credit agreement . the credit agreement provides for a $ 300 million three-year term loan ( the `` term loan facility '' ) and a $ 500 million five-year revolving credit facility ( the `` revolving credit facility '' ) . subject to certain conditions , the aggregate commitments under the revolving credit facility may be increased to up to $ 800 million at any time upon agreement between us and existing or additional lenders . borrowings under the revolving credit facility and the term loan facility may be used for general corporate purposes . simultaneously with the execution of the credit agreement and pursuant to its terms , we repaid all amounts outstanding under , and terminated , the prior credit agreement . in november 2015 , we entered into an agreement and amendment no . 1 to credit agreement ( `` amendment no . 1 '' ) . amendment no . 1 amended the credit agreement to ( 1 ) replace the maximum leverage ratio financial covenant with a new financial covenant restricting the maximum total capitalization ratio ( defined in amendment no .


 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 we consider our liquidity and capital resources adequate to support our operations and growth initiatives . at december 31 , 2016 , we had working capital of $ 754 million , including cash and cash equivalents of $ 450 million . additionally , we had $ 500 million available through our revolving credit facility under a credit agreement ( as amended , the `` credit agreement '' ) , which is scheduled to expire on october 25 , 2021 . in october 2014 , we entered into the credit agreement with a group of banks to replace our prior principal credit agreement . the credit agreement provides for a $ 300 million three-year term loan ( the `` term loan facility '' ) and a $ 500 million five-year revolving credit facility ( the `` revolving credit facility '' ) . subject to certain conditions , the aggregate commitments under the revolving credit facility may be increased to up to $ 800 million at any time upon agreement between us and existing or additional lenders . borrowings under the revolving credit facility and the term loan facility may be used for general corporate purposes . simultaneously with the execution of the credit agreement and pursuant to its terms , we repaid all amounts outstanding under , and terminated , the prior credit agreement . in november 2015 , we entered into an agreement and amendment no . 1 to credit agreement ( `` amendment no . 1 '' ) . amendment no . 1 amended the credit agreement to ( 1 ) replace the maximum leverage ratio financial covenant with a new financial covenant restricting the maximum total capitalization ratio ( defined in amendment no .
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 Suspicious Activity Report : for long-lived assets to be held and used , we base our evaluation on impairment indicators such as the nature of the assets , the future economic benefits of the assets , any historical or future profitability measurements and other external market conditions or factors that may be present . if such impairment indicators are present or other factors exist that indicate that the carrying amount of an asset may not be recoverable , we determine whether an impairment has occurred through the use of an undiscounted cash flows analysis of the asset at the lowest level for which identifiable cash flows exist . if an impairment has occurred , we recognize a loss for the difference between the carrying amount and the fair value of the asset . for assets held for sale or disposal , the fair value of the asset is measured using fair market value less cost to sell . assets are classified as held-for-sale when we have a plan for disposal of certain assets and those assets meet the held for sale criteria . we charge the costs of repair and maintenance of property and equipment to operations as incurred , while we capitalize the costs of improvements that extend asset lives or functionality . goodwill . in our annual evaluation of goodwill for impairment , we first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount . if , after assessing the totality of events or circumstances , we determine it is more likely than not that the fair value of a reporting unit exceeds its carrying amount , performing the two-step impairment test is unnecessary . however , if we conclude otherwise , then we are required to perform the first step of the two-step impairment test . we estimate fair value of the reporting units using both an income approach , which considers a discounted cash flow model , and a market approach . reductions in estimates of our future cash flows or adverse changes in market comparable information may result in goodwill impairments in the future . for reporting units with goodwill , we do not believe our goodwill will be impaired during 2017 . income taxes . our tax provisions are based on our expected taxable income , statutory rates and tax-planning opportunities available to us in the various jurisdictions in which we operate . determination of taxable income in any jurisdiction requires the interpretation of the related tax laws . we are at risk that a taxing authority 's final determination of our tax liabilities may differ from our interpretation . our effective tax rate may fluctuate from year to year as our operations are conducted in different taxing jurisdictions , the amount of pre-tax income fluctuates , the amounts of foreign income we anticipate will be repatriated and our estimates regarding the realizability of items such as foreign tax credits may change . we consider $ 623 million of unremitted earnings of our foreign subsidiaries to be indefinitely reinvested . we believe we have the ability to indefinitely reinvest these foreign earnings based on our expectations of profitability for our u.s. operations over the long term , our significant u.s. liquidity , and the amount of unremitted earnings of our foreign subsidiaries not considered indefinitely reinvested , for which we have provided deferred income taxes . we account for any applicable interest and penalties on uncertain tax positions as a component of our provision for income taxes on our financial statements . current income tax expense represents either nonresident withholding taxes or the liabilities expected to be reflected on our income tax returns for the current year , while the net deferred income tax expense or benefit represents the change in the balance of deferred tax assets or liabilities as reported on our balance sheet . we establish valuation allowances to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized in the future . while we have considered estimated future taxable income and ongoing prudent and feasible tax-planning strategies in assessing the need for the valuation allowances , changes in these estimates and assumptions , as well as changes in tax laws , could require us to provide for valuation allowances for our deferred tax assets . provisions for valuation allowances impact our income tax provision in the period in which such adjustments are identified and recorded . we established a deferred tax asset valuation allowance of $ 4.2 million in 2016 related to the realizability of loss carryforwards in certain of our foreign jurisdictions . 30 in march 2016 , the fasb issued asu 2016-09 , `` compensation – stock compensation improvements to employee share-based payment accounting . `` this update requires that all excess tax benefits and tax deficiencies ( including tax benefits of dividends on share-based payment awards ) should be recognized as income tax expense or benefit in the income statement . the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur . an entity also should recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period . currently , an entity must determine , for each award , whether the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes results in either an excess tax benefit or a tax deficiency . story_separator_special_tag the december 2014 program calls for the repurchases to be made in the open market , or in privately negotiated transactions from time to time , in compliance with applicable laws , rules and regulations , including rule 10b-18 under the securities exchange act of 1934 , as amended , subject to market and business conditions , levels of available liquidity , cash requirements for other purposes , applicable legal requirements and other relevant factors . the timing and amount of any repurchases will be determined by our management based on its evaluation of these factors . we expect that any shares repurchased under the new program will be held as treasury stock for future possible use . the new program does not obligate us to repurchase any particular number of shares . through december 31 , 2015 under the new program , we repurchased 2 million shares of our common stock for $ 100 million . we did not repurchase any shares in 2016 . as of december 31 , 2016 , we retained 12.8 million of the shares we had repurchased . we expect to hold the shares repurchased for future use . because of our significant foreign operations , we are exposed to currency fluctuations and exchange rate risks . we generally minimize these risks primarily through matching , to the extent possible , revenue and expense in the various currencies in which we operate . cumulative translation adjustments as of december 31 , 2016 relate primarily to our net investments in , including long-term loans to , our foreign subsidiaries . a stronger u.s. dollar against the u.k. pound sterling , norwegian kroner and brazilian real would result in lower operating income . see item 7a – `` quantitative and qualitative disclosures about market risk . `` 34 results of operations additional information on our business segments is shown in note 7 of the notes to consolidated financial statements included in this report . oilfield . the table that follows sets out revenue and profitability for the business segments within our oilfield business . in the rov section of the table that follows , `` days available `` includes all days from the first day that an rov is placed in service until the rov is retired . all days in this period are considered available days , including periods when an rov is undergoing maintenance or repairs . our rovs do not have scheduled maintenance or repair that requires significant time when the rovs are not available for utilization . replace_table_token_12_th 35 historically , we built new rovs to increase the size of our fleet in response to demand to support deepwater drilling and vessel-based inspection , maintenance and repair ( `` imr `` ) and installation work . in 2015 , as a result of declining market conditions , we began building fewer rovs , primarily to meet contractual commitments . these vehicles are designed for use around the world in water depths of 10,000 feet or more . we added 6 , 16 and 49 rovs in 2016 , 2015 and 2014 , respectively , while retiring 94 units over the three-year period and transferring one to our advanced technologies segment over that period . our rov fleet size was 280 at december 31 , 2016 , 315 at december 31 , 2015 and 336 at december 31 , 2014 . we have decreased our rov fleet size over the last two years as a result of lower market demand . our rov operating income decreased in the year ended december 31 , 2016 compared to the prior year , as a result of lower days on hire and lower average revenue per day-on-hire , as well as inventory write-downs and fixed asset write-offs totaling $ 36.0 million in 2016. during 2016 , the leading indicator for deepwater activity , contracted floating rigs , continued to decline as the rate of rigs being idled , either by contract termination or expiration , continued . this prevailing market condition required us to reassess the number of rovs we had in our fleet , as well as the associated inventory . as a result of our reassessment , in 2016 we recorded $ 36.0 million of charges consisting of : ( 1 ) $ 25.2 million for a reserve for excess inventory ; and ( 2 ) $ 10.8 million for the retirement of 39 rovs . during 2016 we also incurred charges related to restructuring expenses of $ 3.8 million and bad debt expenses of $ 1.2 million . for 2015 , our rov revenue and operating income declined from 2014 from lower demand for drill support services and a reduction in average revenue per day across all our geographic areas of operation . rov days on hire decreased by 15 % and revenue per day on hire decreased 11 % . in 2015 , our rov cost of services and products included inventory write-downs of $ 15.7 million , restructuring expenses of $ 7.2 million and rov retirements resulting in write-offs of $ 2.9 million . the inventory write downs were due to excess inventory , which we do not anticipate using given current and forecast market conditions . the restructuring expenses related to severance costs for incurred and designated future workforce reductions and costs associated with closing excess facilities . the write-offs were necessitated as a result of our retiring an unusually large number of rovs in 2015 due to market prospects for these vehicles . in our financial statements , the charges incurred in both 2016 and 2015 are reflected in our cost of services and products , except for the charges related to bad debts , which are reflected in general and administrative expenses . we anticipate rov operating income to decrease in 2017 as a result of decreases in average revenue per day on hire and the number of days on hire for drilling support services , attributable to

