these statements discuss goals , intentions and expectations as to future trends , plans , events , results of operations or financial condition , or state other information relating to us , based on our current beliefs as well as assumptions made by us and information currently available to us . forward-looking statements generally will be accompanied by words such as “ anticipate , ” “ believe , ” “ could , ” “ estimate , ” “ expect , ” “ forecast , ” “ intend , ” “ may , ” “ possible , ” “ potential , ” “ predict , ” “ project , ” or other similar words , phrases or expressions . this includes , without limitation , our statements and expectations regarding any current or future recovery in our industry , our publicly announced plans for increased capital and investment spending to achieve our long-term revenue and profitability growth goals , our integration of acquired businesses , and our expectations with respect to leverage . although we believe these forward-looking statements are reasonable , they are based upon a number of assumptions concerning future conditions , any or all of which may ultimately prove to be inaccurate . important factors that could cause actual results to differ materially from the forward-looking statements include , without limitation : the risks described in item 1a and in item 7a of this annual report on form 10-k ; changes in the financial stability of our clients or the overall economic environment , resulting in decreased corporate spending and service sector employment ; changes in relationships with clients ; the mix of products sold and of clients purchasing our products ; the success of new technology initiatives ; changes in business strategies and decisions ; competition from our competitors ; our ability to recruit and retain an experienced management team ; changes in raw material prices and availability ; restrictions on government spending resulting in fewer sales to the u.s. government , one of our largest customers ; our debt restrictions on spending ; our ability to protect our patents , copyrights and trademarks ; our reliance on furniture dealers to produce sales ; lawsuits arising from patents , copyrights and trademark infringements ; violations of environmental laws and regulations ; potential labor disruptions ; adequacy of our insurance policies ; the availability of future capital and the cost of borrowing ; the overall strength and stability of our dealers , suppliers , and customers ; access to necessary capital ; our ability to successfully integrate acquired businesses ; the success of our design and implementation of a new enterprise resource planning system ; and currency rate fluctuations . the factors identified above are believed to be important factors but not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any forward-looking statement . unpredictable or unknown factors could also have material adverse effects on us . all forward-looking statements included in this form 10-k are expressly qualified in their entirety by the foregoing cautionary statements . except as required under the federal securities laws and the rules and regulations of the sec , we undertake no obligation to update , amend , or clarify forward-looking statements , whether as a result of new information , future events , or otherwise . overview we design , manufacture , market and sell high-end commercial and residential furniture , accessories , textiles , fine leathers and designer felt for the workplace and residential markets , as well as modern outdoor furniture . we work with clients to create inspired modern interiors . our design-driven businesses share a reputation for high-quality and sophistication offering a diversified product portfolio that endures throughout evolving trends . our products are targeted at the middle to upper-end of the market where we reach customers primarily through a broad network of independent dealers and distribution partners , our direct sales force , our showrooms , and our online presence . business highlights during the last decade we have diversified our sources of revenue among our varying operating segments . over the last two years , our efforts to diversify have included the acquisition of fully in august 2019 , a portland based e-commerce based company servicing the small business and consumer home office market , the acquisition of muuto in january 2018 , a danish-based global commercial furniture design and distribution company , and multiple organic product development and design projects that have enhanced our portfolio and client offerings . we expect to continue to develop our acquired businesses and expand organically , be acquisitive on an opportunistic basis and continue our efforts to improve the profitability of our office segment . we believe we are well positioned to continue to build on these initiatives and benefit from the trend to more social and hospitality-based workplaces in the coming years . our efforts to diversify our sources of revenue among our operating segments has not detracted from our continued focus on growing and improving the operating performance of our office segment . the lean initiatives that were executed in 2019 25 have contributed greatly to the improvements in gross margin , and we expect more positive contributions in this area as we move into 2020. in addition , we just announced a restructuring plan in january 2020 involving a reduction of our fixed cost footprint that will occur over the next two years and will yield significant savings on an annualized basis as we near the end of 2021. we are looking beyond the traditional office product categories of systems , task seating and storage , to furniture that supports activity areas and the in-between spaces where peoplemeet . story_separator_special_tag we compare the fair value of each reporting unit to its carrying value and if the fair value of the reporting unit exceeds its carrying value , goodwill is not impaired and no further testing is required . if the fair value of the reporting unit is less than the carrying value , the difference is recorded as an impairment loss . we estimate the fair value of its reporting units using a combination of the fair values derived from both the income approach and the market approach . under the income approach , we calculate the fair value of a reporting unit based on the present value of estimated future cash flows . cash flow projections are based on our estimates of revenue growth rates and operating margins , taking into consideration industry and market conditions . the discount rate used to determine the present value of future cash flows is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the business 's ability to execute on the projected cash flows . the market approach estimates fair value based on market multiples of revenue and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit . we assess whether indefinite-lived intangible assets impairment exists using both qualitative and quantitative assessments . the qualitative assessment involves determining whether events or circumstances exist that indicate it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount . if , based on this qualitative assessment , we determine it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount or if we elect not to perform a qualitative assessment , a quantitative assessment is performed to determine whether an indefinite-lived intangible asset impairment exists . we test the indefinite-lived intangible assets for impairment by comparing the carrying value to the fair value based on current revenue projections of the related operations , under the relief from royalty method . any excess of the carrying value over the amount of fair value is recognized as an impairment . any such impairment would be recognized in full in the reporting period in which it has been identified . based on the results of the annual impairment test as of october 1 , 2019 , we determined there were no indications of impairment for goodwill . we did identify an impairment of our edelman tradename and recorded a $ 6.5 million impairment charge ( see notes 7 and 11 to the consolidated financial statements included elsewhere herein ) . we determined there were no indications of impairment in any of our other indefinite-lived intangible assets . pension and other post-employment benefits we sponsor two defined benefit pension plans , one of which has terminated and fully paid out benefits due to all participants , and the other is an ongoing plan . we also sponsor four other post-employment benefit plans ( “ opeb ” ) . several statistical and other factors , which attempt to anticipate future events , are used in calculating the expense and liability related to the plans . key factors include assumptions about the expected rates of return on plan assets , discount rates , mortality rates and health care cost trend rates . we consider market and regulatory conditions , including changes in investment returns and interest rates , in making these assumptions . 33 we determine the expected long-term rate of return on plan assets based on aggregating the expected rates of return for each component of the plan 's asset mix . we use historic plan asset returns combined with current market conditions to estimate the rate of return . the expected rate of return on plan assets is a long-term assumption and generally does not change annually . the discount rate reflects the market rate for high-quality fixed income debt instruments as of our annual measurement date and is subject to change each year . holding all other assumptions constant , a one-percentage-point increase or decrease in the assumed rate of return on plan assets would decrease or increase 2019 net periodic pension expense by approximately $ 1.9 million . likewise , a one-percentage-point increase or decrease in the discount rate would increase or decrease 2019 net periodic pension expense by approximately $ 0.4 million or $ 0.1 million , respectively . unrecognized actuarial gains and losses are recognized over the expected remaining lifetime of the plan participants . unrecognized actuarial gains and losses arise from several factors , including experience and assumption changes with respect to the obligations and from the difference between expected returns and actual returns on plan assets . these unrecognized gains and losses are systematically recognized as a change in future net periodic pension expense in accordance with the appropriate accounting guidance relating to defined benefit pension and opeb plans . we utilize a full yield curve approach in the estimation of this component by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows . key assumptions that we use in determining the amount of the obligation and expense recorded for opeb , under the appropriate accounting guidance , include the assumed discount rate and the assumed rate of increases in future health care costs . in estimating the health care cost trend rate , we consider actual health care cost experience , future benefit structures , industry trends and advice from our actuaries . we assume that the relative increase in health care costs will generally trend downward over the next several years , reflecting assumed increases in efficiency and cost-containment initiatives in the health care system . for purposes of measuring the benefit obligation associated with the company 's opeb plans as of december 31 , 2019 ,

cash provided by operating activities was $ 138.2 million , $ 108.2 million , and $ 103.7 million in 2019 , 2018 and 2017 , respectively . for the year ended december 31 , 2019 , cash provided by operating activities consisted primarily of $ 67.5 million of net income and $ 82.7 million of various non-cash charges , including $ 39.5 million of depreciation and amortization , $ 10.8 million of stock-based compensation , $ 21.0 million of pension settlement charges and $ 6.5 million intangible asset impairment . these favorable changes were partially offset by $ 12.0 million of unfavorable changes in assets and liabilities primarily driven by increased inventory as a result of ramping up inventory for our current order backlog and lower accrued expenses . for the year ended december 31 , 2018 , cash provided by operating activities consisted primarily of $ 73.3 million of net income and $ 61.4 million of various non-cash charges , including $ 35.3 million of depreciation and amortization , $ 9.2 million of stock-based compensation , $ 5.7 million pension settlement charges and a $ 4.8 million provision for deferred income taxes , offset in part by $ 26.5 million of unfavorable changes in assets and liabilities primarily driven by growth in accounts receivable and inventory as a result of growth in sales and ramping up inventory for our current order backlog . investing activities for the year ended december 31 , 2019 included the purchase of fully for $ 30.9 million , net of cash acquired . in addition , we used $ 49.9 million of cash for capital expenditures . during 2018 , we used $ 308.0 million , net of cash acquired , for the purchase of muuto and $ 40.3 million of cash for capital expenditures . the capital expenditures are reflective of our commitment to enhance and modernize our sales , manufacturing and information technology infrastructure . acquisitions are reflective of our strategy of building our global capabilities as a singular resource for high-design workplaces and homes .


 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 provided by operating activities was $ 138.2 million , $ 108.2 million , and $ 103.7 million in 2019 , 2018 and 2017 , respectively . for the year ended december 31 , 2019 , cash provided by operating activities consisted primarily of $ 67.5 million of net income and $ 82.7 million of various non-cash charges , including $ 39.5 million of depreciation and amortization , $ 10.8 million of stock-based compensation , $ 21.0 million of pension settlement charges and $ 6.5 million intangible asset impairment . these favorable changes were partially offset by $ 12.0 million of unfavorable changes in assets and liabilities primarily driven by increased inventory as a result of ramping up inventory for our current order backlog and lower accrued expenses . for the year ended december 31 , 2018 , cash provided by operating activities consisted primarily of $ 73.3 million of net income and $ 61.4 million of various non-cash charges , including $ 35.3 million of depreciation and amortization , $ 9.2 million of stock-based compensation , $ 5.7 million pension settlement charges and a $ 4.8 million provision for deferred income taxes , offset in part by $ 26.5 million of unfavorable changes in assets and liabilities primarily driven by growth in accounts receivable and inventory as a result of growth in sales and ramping up inventory for our current order backlog . investing activities for the year ended december 31 , 2019 included the purchase of fully for $ 30.9 million , net of cash acquired . in addition , we used $ 49.9 million of cash for capital expenditures . during 2018 , we used $ 308.0 million , net of cash acquired , for the purchase of muuto and $ 40.3 million of cash for capital expenditures . the capital expenditures are reflective of our commitment to enhance and modernize our sales , manufacturing and information technology infrastructure . acquisitions are reflective of our strategy of building our global capabilities as a singular resource for high-design workplaces and homes .
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 Suspicious Activity Report : these statements discuss goals , intentions and expectations as to future trends , plans , events , results of operations or financial condition , or state other information relating to us , based on our current beliefs as well as assumptions made by us and information currently available to us . forward-looking statements generally will be accompanied by words such as “ anticipate , ” “ believe , ” “ could , ” “ estimate , ” “ expect , ” “ forecast , ” “ intend , ” “ may , ” “ possible , ” “ potential , ” “ predict , ” “ project , ” or other similar words , phrases or expressions . this includes , without limitation , our statements and expectations regarding any current or future recovery in our industry , our publicly announced plans for increased capital and investment spending to achieve our long-term revenue and profitability growth goals , our integration of acquired businesses , and our expectations with respect to leverage . although we believe these forward-looking statements are reasonable , they are based upon a number of assumptions concerning future conditions , any or all of which may ultimately prove to be inaccurate . important factors that could cause actual results to differ materially from the forward-looking statements include , without limitation : the risks described in item 1a and in item 7a of this annual report on form 10-k ; changes in the financial stability of our clients or the overall economic environment , resulting in decreased corporate spending and service sector employment ; changes in relationships with clients ; the mix of products sold and of clients purchasing our products ; the success of new technology initiatives ; changes in business strategies and decisions ; competition from our competitors ; our ability to recruit and retain an experienced management team ; changes in raw material prices and availability ; restrictions on government spending resulting in fewer sales to the u.s. government , one of our largest customers ; our debt restrictions on spending ; our ability to protect our patents , copyrights and trademarks ; our reliance on furniture dealers to produce sales ; lawsuits arising from patents , copyrights and trademark infringements ; violations of environmental laws and regulations ; potential labor disruptions ; adequacy of our insurance policies ; the availability of future capital and the cost of borrowing ; the overall strength and stability of our dealers , suppliers , and customers ; access to necessary capital ; our ability to successfully integrate acquired businesses ; the success of our design and implementation of a new enterprise resource planning system ; and currency rate fluctuations . the factors identified above are believed to be important factors but not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any forward-looking statement . unpredictable or unknown factors could also have material adverse effects on us . all forward-looking statements included in this form 10-k are expressly qualified in their entirety by the foregoing cautionary statements . except as required under the federal securities laws and the rules and regulations of the sec , we undertake no obligation to update , amend , or clarify forward-looking statements , whether as a result of new information , future events , or otherwise . overview we design , manufacture , market and sell high-end commercial and residential furniture , accessories , textiles , fine leathers and designer felt for the workplace and residential markets , as well as modern outdoor furniture . we work with clients to create inspired modern interiors . our design-driven businesses share a reputation for high-quality and sophistication offering a diversified product portfolio that endures throughout evolving trends . our products are targeted at the middle to upper-end of the market where we reach customers primarily through a broad network of independent dealers and distribution partners , our direct sales force , our showrooms , and our online presence . business highlights during the last decade we have diversified our sources of revenue among our varying operating segments . over the last two years , our efforts to diversify have included the acquisition of fully in august 2019 , a portland based e-commerce based company servicing the small business and consumer home office market , the acquisition of muuto in january 2018 , a danish-based global commercial furniture design and distribution company , and multiple organic product development and design projects that have enhanced our portfolio and client offerings . we expect to continue to develop our acquired businesses and expand organically , be acquisitive on an opportunistic basis and continue our efforts to improve the profitability of our office segment . we believe we are well positioned to continue to build on these initiatives and benefit from the trend to more social and hospitality-based workplaces in the coming years . our efforts to diversify our sources of revenue among our operating segments has not detracted from our continued focus on growing and improving the operating performance of our office segment . the lean initiatives that were executed in 2019 25 have contributed greatly to the improvements in gross margin , and we expect more positive contributions in this area as we move into 2020. in addition , we just announced a restructuring plan in january 2020 involving a reduction of our fixed cost footprint that will occur over the next two years and will yield significant savings on an annualized basis as we near the end of 2021. we are looking beyond the traditional office product categories of systems , task seating and storage , to furniture that supports activity areas and the in-between spaces where peoplemeet . story_separator_special_tag we compare the fair value of each reporting unit to its carrying value and if the fair value of the reporting unit exceeds its carrying value , goodwill is not impaired and no further testing is required . if the fair value of the reporting unit is less than the carrying value , the difference is recorded as an impairment loss . we estimate the fair value of its reporting units using a combination of the fair values derived from both the income approach and the market approach . under the income approach , we calculate the fair value of a reporting unit based on the present value of estimated future cash flows . cash flow projections are based on our estimates of revenue growth rates and operating margins , taking into consideration industry and market conditions . the discount rate used to determine the present value of future cash flows is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the business 's ability to execute on the projected cash flows . the market approach estimates fair value based on market multiples of revenue and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit . we assess whether indefinite-lived intangible assets impairment exists using both qualitative and quantitative assessments . the qualitative assessment involves determining whether events or circumstances exist that indicate it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount . if , based on this qualitative assessment , we determine it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount or if we elect not to perform a qualitative assessment , a quantitative assessment is performed to determine whether an indefinite-lived intangible asset impairment exists . we test the indefinite-lived intangible assets for impairment by comparing the carrying value to the fair value based on current revenue projections of the related operations , under the relief from royalty method . any excess of the carrying value over the amount of fair value is recognized as an impairment . any such impairment would be recognized in full in the reporting period in which it has been identified . based on the results of the annual impairment test as of october 1 , 2019 , we determined there were no indications of impairment for goodwill . we did identify an impairment of our edelman tradename and recorded a $ 6.5 million impairment charge ( see notes 7 and 11 to the consolidated financial statements included elsewhere herein ) . we determined there were no indications of impairment in any of our other indefinite-lived intangible assets . pension and other post-employment benefits we sponsor two defined benefit pension plans , one of which has terminated and fully paid out benefits due to all participants , and the other is an ongoing plan . we also sponsor four other post-employment benefit plans ( “ opeb ” ) . several statistical and other factors , which attempt to anticipate future events , are used in calculating the expense and liability related to the plans . key factors include assumptions about the expected rates of return on plan assets , discount rates , mortality rates and health care cost trend rates . we consider market and regulatory conditions , including changes in investment returns and interest rates , in making these assumptions . 33 we determine the expected long-term rate of return on plan assets based on aggregating the expected rates of return for each component of the plan 's asset mix . we use historic plan asset returns combined with current market conditions to estimate the rate of return . the expected rate of return on plan assets is a long-term assumption and generally does not change annually . the discount rate reflects the market rate for high-quality fixed income debt instruments as of our annual measurement date and is subject to change each year . holding all other assumptions constant , a one-percentage-point increase or decrease in the assumed rate of return on plan assets would decrease or increase 2019 net periodic pension expense by approximately $ 1.9 million . likewise , a one-percentage-point increase or decrease in the discount rate would increase or decrease 2019 net periodic pension expense by approximately $ 0.4 million or $ 0.1 million , respectively . unrecognized actuarial gains and losses are recognized over the expected remaining lifetime of the plan participants . unrecognized actuarial gains and losses arise from several factors , including experience and assumption changes with respect to the obligations and from the difference between expected returns and actual returns on plan assets . these unrecognized gains and losses are systematically recognized as a change in future net periodic pension expense in accordance with the appropriate accounting guidance relating to defined benefit pension and opeb plans . we utilize a full yield curve approach in the estimation of this component by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows . key assumptions that we use in determining the amount of the obligation and expense recorded for opeb , under the appropriate accounting guidance , include the assumed discount rate and the assumed rate of increases in future health care costs . in estimating the health care cost trend rate , we consider actual health care cost experience , future benefit structures , industry trends and advice from our actuaries . we assume that the relative increase in health care costs will generally trend downward over the next several years , reflecting assumed increases in efficiency and cost-containment initiatives in the health care system . for purposes of measuring the benefit obligation associated with the company 's opeb plans as of december 31 , 2019 ,

