in november 2014 , the company and landry 's , inc. and mitchell 's entertainment , inc. , an affiliate of landry 's inc. ( together with landry 's inc. , landry 's ) , entered into an asset purchase agreement ( the agreement ) . pursuant to the agreement , the company agreed to sell the mitchell 's restaurants and related assets to landry 's for $ 10 million . the sale of the mitchell 's restaurants closed on january 21 , 2015. the assets sold consist primarily of leasehold interests , leasehold improvements , restaurant equipment and furnishings , inventory , and related intangible assets , including brand names and trademarks associated with the 21 mitchell 's restaurants . under the terms of the agreement , landry 's assumed the mitchell 's restaurants ' facility lease obligations and the company will reimburse landry 's for gift cards sold prior to the closing date and used at the mitchell 's restaurants during the eighteen months following the closing date . during the third quarter of fiscal year 2016 , the company recognized a $ 466 thousand benefit from the extinguishment of the liability related to these gift cards . for financial reporting purposes , the mitchell 's restaurants are classified as a discontinued operation for all periods presented . recap of fiscal year 2016 and fiscal year 2015 operating results operating income for fiscal year 2016 increased from fiscal year 2015 by $ 2.8 million to $ 47.6 million . operating income for fiscal year 2016 was favorably impacted by an $ 11.3 million increase in restaurant sales and a decrease in food and beverage costs of $ 1.0 million . these favorable impacts were somewhat offset by increased restaurant operating expenses , marketing and advertising , general and administrative costs , depreciation and amortization expenses and pre-opening costs . higher restaurant sales were attributable both to an increase in comparable company-owned restaurant sales and new or relocated restaurants . after-tax income from continuing operations during fiscal year 2016 increased from fiscal year 2015 by $ 589 thousand to $ 30.8 million . fiscal year 2016 net income increased from fiscal year 2015 by $ 461 thousand to $ 30.5 million . operating income for fiscal year 2015 increased from fiscal year 2014 by $ 5.1 million to $ 44.8 million . operating income for fiscal year 2015 was favorably impacted by a $ 26.4 million increase in restaurant sales , which was somewhat offset by increased food and beverage costs and restaurant operating expenses . higher restaurant sales were attributable both to an increase in comparable company-owned restaurant sales and new or relocated restaurants . after-tax income from continuing operations during fiscal year 2015 increased from fiscal year 2014 by $ 3.5 million to $ 30.2 million . fiscal year 2015 net income increased from fiscal year 2014 by $ 13.5 million to $ 30.0 million . net income for fiscal year 2014 was adversely impacted by a $ 10.3 million loss from discontinued operations . the fiscal year 2014 loss from discontinued operations was largely attributable to the impairment of the assets of the mitchell 's restaurants . key financial terms and metrics we evaluate our business using a variety of key financial measures : restaurant sales . restaurant sales consist of food and beverage sales by company-owned restaurants . restaurant sales are primarily influenced by total operating weeks in the relevant period and comparable restaurant sales growth . total operating weeks is the total number of company-owned restaurants multiplied by the number of weeks each is in operation during the relevant period . total operating weeks are impacted by restaurant openings and closings , as well as changes in the number of weeks included in the relevant period . comparable restaurant sales growth reflects the change in year-over-year or quarter-over-quarter , as applicable , sales for the comparable restaurant base . we define the comparable restaurant base to be those company-owned restaurants in operation for not less than fifteen months prior to the beginning of the fiscal quarter including the period being measured . comparable restaurant sales growth is primarily influenced by customer traffic , which is measured by the number of entrées sold , and the average guest check . customer traffic is influenced by the popularity of our menu items , our guest mix , our ability to deliver a high-quality dining experience and overall economic conditions . average guest check , a measure of total restaurant sales divided by the number of entrées , is driven by menu mix and pricing . franchise income . franchise income includes ( 1 ) franchise and development fees charged to franchisees and ( 2 ) royalty income . franchise royalties consist of 5.0 % of adjusted gross sales from each franchisee-owned restaurant . in addition , our more recent franchise agreements require up to a 1.0 % advertising fee to be paid by the franchisee , which is applied to national advertising expenditures . under our prior franchise agreements , the company would pay 1.0 % out of the 5.0 % royalty toward national advertising . we evaluate the performance of our franchisees by measuring franchisee-owned restaurant operating weeks , which is impacted by franchisee-owned restaurant openings and closings , and comparable franchisee-owned restaurant sales growth , which together with operating weeks , drives royalty income . 22 other operating income . other operating income consists primarily of breakage income associated with gift cards , and also includes fees earned from a management agreement , banquet-related guarantee and services revenue and other incidental guest fees . food and beverage costs . food and beverage costs include all restaurant-level food and beverage costs of company-owned restaurants . we measure food and beverage costs by tracking cost of sales as a percentage of restaurant sales and cost per entrée . story_separator_special_tag historically , the percentages of our annual total revenues during the first and fourth fiscal quarters have been higher due , in part , to the year-end holiday season . accordingly , results for any one quarter are not necessarily indicative of results to be expected for any other quarter or for any year , and comparable restaurant sales for any particular period may decrease . story_separator_special_tag i > capital expenditures in fiscal year 2016 , which aggregated $ 26.2 million , pertained primarily to $ 13.5 million for new restaurants and $ 8.4 million for restaurant remodel projects . capital expenditures in fiscal year 2015 , which aggregated $ 20.3 million , pertained primarily to : $ 12.5 million for restaurant remodel projects and $ 6.8 million for new restaurants . capital expenditures in fiscal year 2014 , which aggregated $ 20.1 million , pertained primarily to $ 7.7 million for various restaurant remodel projects ; $ 9.7 million for new restaurants ; and $ 2.8 million for the acquisition of the austin , tx ruth 's chris steak house restaurant from the owner franchisee . we anticipate capital expenditures in fiscal year 2017 will be approximately $ 24.0 to $ 26.0 million . we currently expect to open three company-owned restaurants at leased locations and one restaurant operating under a contractual agreement in fiscal year 2017. cash flows the following table summarizes our primary sources and uses of cash ( in thousands ) : replace_table_token_10_th operating activities . operating cash inflows pertain primarily to restaurant sales and franchise income . operating cash outflows pertain primarily to expenditures for food and beverages , restaurant operating expenses , marketing and advertising and general and administrative costs . operating activities provided cash flow all three fiscal years primarily because operating revenues have exceeded cash-based expenses . investing activities . cash used in investing activities in all three fiscal years pertained primarily to capital expenditure projects . during fiscal year 2015 , the company received $ 10.0 million for the sale of the mitchell 's restaurants and related assets . financing activities . financing activities used cash in all three years . during fiscal year 2016 , we : used $ 45.1 million to repurchase common stock ; increased the debt outstanding under our prior senior credit facility by $ 25.0 million ; paid dividends of $ 9.2 million ; and paid $ 1.5 million in employee taxes in connection with the vesting of restricted stock and the exercise of stock options . we paid $ 1.5 million in taxes in connection with the vesting of restricted stock and the exercise of stock options because some recipients elected to satisfy their individual minimum tax withholding obligations by having us withhold a number of vested shares of restricted stock and or a number of shares otherwise issuable pursuant to stock options , in each case in an amount having a value on the date of vesting or exercise equal to a recipient 's minimum federal and state withholding taxes . during fiscal year 2015 , we : reduced the debt outstanding under our prior senior credit facility by $ 13.0 million ; used $ 23.8 million to repurchase common stock ; paid dividends of $ 8.3 million ; and paid $ 1.4 million in employee taxes in connection with the vesting of restricted stock and the exercise of stock options . during fiscal year 2014 , we : reduced the debt outstanding under our senior credit facility by $ 6.0 million ; used $ 15.4 million to repurchase common stock ; paid dividends of $ 7.1 million ; and paid $ 3.1 million in employee taxes in connection with the vesting of restricted stock and the exercise of stock options . 29 contractual obligations the following table summarizes our contractual obligations as of december 25 , 2016 : replace_table_token_11_th long-term debt obligations include principal maturities and expected interest payments . expected interest payments were estimated using the interest and fee rates under our senior credit facility as of december 25 , 2016. operating lease obligations do not include contingent rent , common area maintenance , property taxes and other pass through charges from our landlords . the above table does not include recorded liabilities to vendors or employees nor does it include routine purchase commitments for food and supplies . pursuant the terms of the agreement , upon closing of the sale of the mitchell 's restaurants in january 2015 , landry 's assumed the lease obligations of the mitchell 's restaurants . however , the company has guaranteed landry 's lease obligations aggregating $ 35.3 million under nine of the leases . landry 's indemnified the company in the event of a default under any of the leases . the above table does not include potential lease obligations for the mitchell 's restaurants . off-balance sheet arrangements as of december 25 , 2016 , we do not have any off-balance sheet arrangements . critical accounting policies and estimates our discussion and analysis of results of operations and financial condition is based upon our audited consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles . the preparation of these consolidated financial statements is based , in part , on our critical accounting policies that require us to make estimates and judgments that affect the amounts reported in those consolidated financial statements . our significant accounting policies , which may be affected by our estimates and assumptions , are more fully described in note 2 of the consolidated financial statements . critical accounting policies are those that we believe are most important to portraying our financial condition and results of operations and also require the greatest amount of subjective or complex judgments by management . judgments or uncertainties regarding the application of these policies may result in materially different amounts being reported under different conditions or using different assumptions . we consider the following policies to be

liquidity and capital resources overview our principal sources of cash during fiscal year 2016 were net cash provided by operating activities and borrowings under our prior senior credit facility . our principal uses of cash during fiscal year 2016 were for capital expenditures , principal repayments under our prior senior credit facility , common stock repurchases and dividend payments . cash flows from discontinued operations are combined with the cash flows from continuing operations within each of the categories on our statement of cash flows . except for the receipt of $ 10 million for the sale of the mitchell 's restaurants during the first quarter of fiscal year 2015 , the sale of the mitchell 's restaurants or any of our closed restaurants reported in discontinued operations did not have a material impact on our cash flow during fiscal year 2015. in april 2016 , our board of directors approved a new share repurchase program authorizing the company to repurchase up to $ 60 million of outstanding commons stock from time to time . the new share repurchase program replaces the previous share repurchase program announced in november 2014 , which has been terminated . during fiscal year 2016 , 2,824,322 shares were repurchased at an aggregate cost of $ 45.1 million or an average cost of $ 15.96 per share . all repurchased shares were retired and cancelled . as of december 25 , 2016 , $ 26.6 million remained available for future purchases under the share repurchase program . during the second quarter of fiscal year 2013 , we commenced paying quarterly cash dividends to holders of common and restricted stock .


 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 overview our principal sources of cash during fiscal year 2016 were net cash provided by operating activities and borrowings under our prior senior credit facility . our principal uses of cash during fiscal year 2016 were for capital expenditures , principal repayments under our prior senior credit facility , common stock repurchases and dividend payments . cash flows from discontinued operations are combined with the cash flows from continuing operations within each of the categories on our statement of cash flows . except for the receipt of $ 10 million for the sale of the mitchell 's restaurants during the first quarter of fiscal year 2015 , the sale of the mitchell 's restaurants or any of our closed restaurants reported in discontinued operations did not have a material impact on our cash flow during fiscal year 2015. in april 2016 , our board of directors approved a new share repurchase program authorizing the company to repurchase up to $ 60 million of outstanding commons stock from time to time . the new share repurchase program replaces the previous share repurchase program announced in november 2014 , which has been terminated . during fiscal year 2016 , 2,824,322 shares were repurchased at an aggregate cost of $ 45.1 million or an average cost of $ 15.96 per share . all repurchased shares were retired and cancelled . as of december 25 , 2016 , $ 26.6 million remained available for future purchases under the share repurchase program . during the second quarter of fiscal year 2013 , we commenced paying quarterly cash dividends to holders of common and restricted stock .
```    
 Suspicious Activity Report : in november 2014 , the company and landry 's , inc. and mitchell 's entertainment , inc. , an affiliate of landry 's inc. ( together with landry 's inc. , landry 's ) , entered into an asset purchase agreement ( the agreement ) . pursuant to the agreement , the company agreed to sell the mitchell 's restaurants and related assets to landry 's for $ 10 million . the sale of the mitchell 's restaurants closed on january 21 , 2015. the assets sold consist primarily of leasehold interests , leasehold improvements , restaurant equipment and furnishings , inventory , and related intangible assets , including brand names and trademarks associated with the 21 mitchell 's restaurants . under the terms of the agreement , landry 's assumed the mitchell 's restaurants ' facility lease obligations and the company will reimburse landry 's for gift cards sold prior to the closing date and used at the mitchell 's restaurants during the eighteen months following the closing date . during the third quarter of fiscal year 2016 , the company recognized a $ 466 thousand benefit from the extinguishment of the liability related to these gift cards . for financial reporting purposes , the mitchell 's restaurants are classified as a discontinued operation for all periods presented . recap of fiscal year 2016 and fiscal year 2015 operating results operating income for fiscal year 2016 increased from fiscal year 2015 by $ 2.8 million to $ 47.6 million . operating income for fiscal year 2016 was favorably impacted by an $ 11.3 million increase in restaurant sales and a decrease in food and beverage costs of $ 1.0 million . these favorable impacts were somewhat offset by increased restaurant operating expenses , marketing and advertising , general and administrative costs , depreciation and amortization expenses and pre-opening costs . higher restaurant sales were attributable both to an increase in comparable company-owned restaurant sales and new or relocated restaurants . after-tax income from continuing operations during fiscal year 2016 increased from fiscal year 2015 by $ 589 thousand to $ 30.8 million . fiscal year 2016 net income increased from fiscal year 2015 by $ 461 thousand to $ 30.5 million . operating income for fiscal year 2015 increased from fiscal year 2014 by $ 5.1 million to $ 44.8 million . operating income for fiscal year 2015 was favorably impacted by a $ 26.4 million increase in restaurant sales , which was somewhat offset by increased food and beverage costs and restaurant operating expenses . higher restaurant sales were attributable both to an increase in comparable company-owned restaurant sales and new or relocated restaurants . after-tax income from continuing operations during fiscal year 2015 increased from fiscal year 2014 by $ 3.5 million to $ 30.2 million . fiscal year 2015 net income increased from fiscal year 2014 by $ 13.5 million to $ 30.0 million . net income for fiscal year 2014 was adversely impacted by a $ 10.3 million loss from discontinued operations . the fiscal year 2014 loss from discontinued operations was largely attributable to the impairment of the assets of the mitchell 's restaurants . key financial terms and metrics we evaluate our business using a variety of key financial measures : restaurant sales . restaurant sales consist of food and beverage sales by company-owned restaurants . restaurant sales are primarily influenced by total operating weeks in the relevant period and comparable restaurant sales growth . total operating weeks is the total number of company-owned restaurants multiplied by the number of weeks each is in operation during the relevant period . total operating weeks are impacted by restaurant openings and closings , as well as changes in the number of weeks included in the relevant period . comparable restaurant sales growth reflects the change in year-over-year or quarter-over-quarter , as applicable , sales for the comparable restaurant base . we define the comparable restaurant base to be those company-owned restaurants in operation for not less than fifteen months prior to the beginning of the fiscal quarter including the period being measured . comparable restaurant sales growth is primarily influenced by customer traffic , which is measured by the number of entrées sold , and the average guest check . customer traffic is influenced by the popularity of our menu items , our guest mix , our ability to deliver a high-quality dining experience and overall economic conditions . average guest check , a measure of total restaurant sales divided by the number of entrées , is driven by menu mix and pricing . franchise income . franchise income includes ( 1 ) franchise and development fees charged to franchisees and ( 2 ) royalty income . franchise royalties consist of 5.0 % of adjusted gross sales from each franchisee-owned restaurant . in addition , our more recent franchise agreements require up to a 1.0 % advertising fee to be paid by the franchisee , which is applied to national advertising expenditures . under our prior franchise agreements , the company would pay 1.0 % out of the 5.0 % royalty toward national advertising . we evaluate the performance of our franchisees by measuring franchisee-owned restaurant operating weeks , which is impacted by franchisee-owned restaurant openings and closings , and comparable franchisee-owned restaurant sales growth , which together with operating weeks , drives royalty income . 22 other operating income . other operating income consists primarily of breakage income associated with gift cards , and also includes fees earned from a management agreement , banquet-related guarantee and services revenue and other incidental guest fees . food and beverage costs . food and beverage costs include all restaurant-level food and beverage costs of company-owned restaurants . we measure food and beverage costs by tracking cost of sales as a percentage of restaurant sales and cost per entrée . story_separator_special_tag historically , the percentages of our annual total revenues during the first and fourth fiscal quarters have been higher due , in part , to the year-end holiday season . accordingly , results for any one quarter are not necessarily indicative of results to be expected for any other quarter or for any year , and comparable restaurant sales for any particular period may decrease . story_separator_special_tag i > capital expenditures in fiscal year 2016 , which aggregated $ 26.2 million , pertained primarily to $ 13.5 million for new restaurants and $ 8.4 million for restaurant remodel projects . capital expenditures in fiscal year 2015 , which aggregated $ 20.3 million , pertained primarily to : $ 12.5 million for restaurant remodel projects and $ 6.8 million for new restaurants . capital expenditures in fiscal year 2014 , which aggregated $ 20.1 million , pertained primarily to $ 7.7 million for various restaurant remodel projects ; $ 9.7 million for new restaurants ; and $ 2.8 million for the acquisition of the austin , tx ruth 's chris steak house restaurant from the owner franchisee . we anticipate capital expenditures in fiscal year 2017 will be approximately $ 24.0 to $ 26.0 million . we currently expect to open three company-owned restaurants at leased locations and one restaurant operating under a contractual agreement in fiscal year 2017. cash flows the following table summarizes our primary sources and uses of cash ( in thousands ) : replace_table_token_10_th operating activities . operating cash inflows pertain primarily to restaurant sales and franchise income . operating cash outflows pertain primarily to expenditures for food and beverages , restaurant operating expenses , marketing and advertising and general and administrative costs . operating activities provided cash flow all three fiscal years primarily because operating revenues have exceeded cash-based expenses . investing activities . cash used in investing activities in all three fiscal years pertained primarily to capital expenditure projects . during fiscal year 2015 , the company received $ 10.0 million for the sale of the mitchell 's restaurants and related assets . financing activities . financing activities used cash in all three years . during fiscal year 2016 , we : used $ 45.1 million to repurchase common stock ; increased the debt outstanding under our prior senior credit facility by $ 25.0 million ; paid dividends of $ 9.2 million ; and paid $ 1.5 million in employee taxes in connection with the vesting of restricted stock and the exercise of stock options . we paid $ 1.5 million in taxes in connection with the vesting of restricted stock and the exercise of stock options because some recipients elected to satisfy their individual minimum tax withholding obligations by having us withhold a number of vested shares of restricted stock and or a number of shares otherwise issuable pursuant to stock options , in each case in an amount having a value on the date of vesting or exercise equal to a recipient 's minimum federal and state withholding taxes . during fiscal year 2015 , we : reduced the debt outstanding under our prior senior credit facility by $ 13.0 million ; used $ 23.8 million to repurchase common stock ; paid dividends of $ 8.3 million ; and paid $ 1.4 million in employee taxes in connection with the vesting of restricted stock and the exercise of stock options . during fiscal year 2014 , we : reduced the debt outstanding under our senior credit facility by $ 6.0 million ; used $ 15.4 million to repurchase common stock ; paid dividends of $ 7.1 million ; and paid $ 3.1 million in employee taxes in connection with the vesting of restricted stock and the exercise of stock options . 29 contractual obligations the following table summarizes our contractual obligations as of december 25 , 2016 : replace_table_token_11_th long-term debt obligations include principal maturities and expected interest payments . expected interest payments were estimated using the interest and fee rates under our senior credit facility as of december 25 , 2016. operating lease obligations do not include contingent rent , common area maintenance , property taxes and other pass through charges from our landlords . the above table does not include recorded liabilities to vendors or employees nor does it include routine purchase commitments for food and supplies . pursuant the terms of the agreement , upon closing of the sale of the mitchell 's restaurants in january 2015 , landry 's assumed the lease obligations of the mitchell 's restaurants . however , the company has guaranteed landry 's lease obligations aggregating $ 35.3 million under nine of the leases . landry 's indemnified the company in the event of a default under any of the leases . the above table does not include potential lease obligations for the mitchell 's restaurants . off-balance sheet arrangements as of december 25 , 2016 , we do not have any off-balance sheet arrangements . critical accounting policies and estimates our discussion and analysis of results of operations and financial condition is based upon our audited consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles . the preparation of these consolidated financial statements is based , in part , on our critical accounting policies that require us to make estimates and judgments that affect the amounts reported in those consolidated financial statements . our significant accounting policies , which may be affected by our estimates and assumptions , are more fully described in note 2 of the consolidated financial statements . critical accounting policies are those that we believe are most important to portraying our financial condition and results of operations and also require the greatest amount of subjective or complex judgments by management . judgments or uncertainties regarding the application of these policies may result in materially different amounts being reported under different conditions or using different assumptions . we consider the following policies to be

