operating cash flows ( in millions ) ( 1 ) the change in adjusted net income is defined as the variance in net income , net of the total adjustments to net income as shown on the consolidated statements of cash flows in item 8.— financial statements and supplementary data of this form 10-k. ( 2 ) the change in working capital is defined as the variance in total c hanges in operating assets and liabilities as shown on the consolidated statements of cash flows in item 8.— financial statements and supplementary data of this form 10-k. amounts included in the chart above include the results of discontinued operations , where applicable . 103 | 2019 annual report adjusted net income decreased $ 40 million primarily due to lower margins at our eurasia sbu and a 2017 favorable impact at uruguaiana as a result of a legal settlement . these impacts were partially offset by higher margins in 2018 at our south america , mcac and us and utilities sbus . working capital requirements increased $ 121 million , primarily due to higher insurance receivables at andres , deconsolidation of eletropaulo , lower collections at los mina and itabo , and the timing of payments on coal purchases at gener . these impacts were partially offset by the collections on the construction performance obligation from the offtaker at vietnam , higher cammesa collections at alicura , and the timing of payments on coal purchases at puerto rico . investing activities fiscal year 2019 versus 2018 net cash used in investing activities increased $ 2.2 billion for the year ended december 31 , 2019 compared to december 31 , 2018 . investing cash flows ( in millions ) proceeds from dispositions decreased $ 1.8 billion , primarily due to the sales of masinloc , electrica santiago , ctng , eletropaulo , and the dpl peaker assets in 2018 ; partially offset by the sale of a portion of our interest in a portfolio of spower 's operating assets and the sale of the kilroot and ballylumford plants in the united kingdom in 2019. contributions and loans to equity affiliates increased $ 179 million , primarily due to project funding requirements at spower . capital expenditures increased $ 284 million , discussed further below . 104 | 2019 annual report capital expenditures ( in millions ) growth expenditures increased $ 130 million , primarily due to higher investments in solar projects at distributed energy and renewable energy projects in argentina ; partially offset by a decrease in payments for the southland re-powering projects . maintenance expenditures increased $ 173 million , primarily at andres as a result of the steam turbine lightning damage , at dpl from storm damages , and at changuinola due to the upgrade of the tunnel lining . environmental expenditures decreased $ 19 million , primarily at ipalco due to lower spending for naaqs , npdes and ccr rule compliance . fiscal year 2018 versus 2017 story_separator_special_tag transactions ; restrictions and limitations on mergers and acquisitions , sales of assets , leases , transactions with affiliates and off-balance sheet and derivative arrangements ; maintenance of certain financial ratios ; and financial and other reporting requirements . as of december 31 , 2019 , we were in compliance with these covenants at the parent company level . non-recourse debt while the lenders under our non-recourse debt financings generally do not have direct recourse to the parent company , defaults thereunder can still have important consequences for our results of operations and liquidity , including , without limitation : reducing our cash flows as the subsidiary will typically be prohibited from distributing cash to the parent company during the time period of any default ; triggering our obligation to make payments under any financial guarantee , letter of credit or other credit support we have provided to or on behalf of such subsidiary ; causing us to record a loss in the event the lender forecloses on the assets ; and triggering defaults in our outstanding debt at the parent company . 108 | 2019 annual report for example , our senior secured credit facility and outstanding debt securities at the parent company include events of default for certain bankruptcy-related events involving material subsidiaries . in addition , our revolving credit agreement at the parent company includes events of default related to payment defaults and accelerations of outstanding debt of material subsidiaries . some of our subsidiaries are currently in default with respect to all or a portion of their outstanding indebtedness . the total non-recourse debt classified as current in the accompanying consolidated balance sheets amounts to $ 1.9 billion . the portion of current debt related to such defaults was $ 320 million at december 31 , 2019 , all of which was non-recourse debt related to two subsidiaries — aes puerto rico and aes ilumina . an additional $ 5 million of debt in default exists at the subsidiary aes jordan solar which was classified as a current held-for-sale liability at december 31 , 2019 . none of the defaults are payment defaults , but are instead technical defaults triggered by failure to comply with other covenants or other conditions contained in the non-recourse debt documents due to the bankruptcy of the offtaker . see note 11 — debt in item 8.— financial statements and supplementary data of this form 10-k for additional detail . none of the subsidiaries that are currently in default are subsidiaries that met the applicable definition of materiality under the parent company 's debt agreements as of december 31 , 2019 , in order for such defaults to trigger an event of default or permit acceleration under the parent company 's indebtedness . story_separator_special_tag the company selects and uses a set of publicly traded companies from the relevant industry to estimate the discount rate inputs . management applies judgment in the selection of such companies based on its view of the 112 | 2019 annual report most likely market participants . it is reasonably possible that the selection of a different set of likely market participants could produce different input assumptions and result in the use of a different discount rate . accounting for derivative instruments and hedging activities — we enter into various derivative transactions in order to hedge our exposure to certain market risks . we primarily use derivative instruments to manage our interest rate , commodity , and foreign currency exposures . we do not enter into derivative transactions for trading purposes . see note 6 — derivative instruments and hedging activities included in item 8 of this form 10-k for further information on the classification . the fair value measurement standard requires the company to consider and reflect the assumptions of market participants in the fair value calculation . these factors include nonperformance risk ( the risk that the obligation will not be fulfilled ) and credit risk , both of the reporting entity ( for liabilities ) and of the counterparty ( for assets ) . due to the nature of the company 's interest rate swaps , which are typically associated with non-recourse debt , credit risk for aes is evaluated at the subsidiary level rather than at the parent company level . nonperformance risk on the company 's derivative instruments is an adjustment to the initial asset/liability fair value position that is derived from internally developed valuation models that utilize observable market inputs . as a result of uncertainty , complexity , and judgment , accounting estimates related to derivative accounting could result in material changes to our financial statements under different conditions or utilizing different assumptions . as a part of accounting for these derivatives , we make estimates concerning nonperformance , volatilities , market liquidity , future commodity prices , interest rates , credit ratings ( both ours and our counterparty 's ) , and future exchange rates . refer to note 5 — fair value included in item 8 of this form 10-k for additional details . the fair value of our derivative portfolio is generally determined using internal and third party valuation models , most of which are based on observable market inputs , including interest rate curves and forward and spot prices for currencies and commodities . the company derives most of its financial instrument market assumptions from market efficient data sources ( e.g . , bloomberg , reuters and platt 's ) . in some cases , where market data is not readily available , management uses comparable market sources and empirical evidence to derive market assumptions to determine a financial instrument 's fair value . in certain instances , the published curve may not extend through the remaining term of the contract and management must make assumptions to extrapolate the curve . specifically , where there is limited forward curve data with respect to foreign exchange contracts , beyond the traded points the company utilizes the interest rate differential approach to construct the remaining portion of the forward curve . additionally , in the absence of quoted prices , we may rely on `` indicative pricing `` quotes from financial institutions to input into our valuation model for certain of our foreign currency swaps . these indicative pricing quotes do not constitute either a bid or ask price and therefore are not considered observable market data . for individual contracts , the use of different valuation models or assumptions could have a material effect on the calculated fair value . regulatory assets — management continually assesses whether regulatory assets are probable of future recovery by considering factors such as applicable regulatory changes , recent rate orders applicable to other regulated entities , and the status of any pending or potential deregulation legislation . if future recovery of costs ceases to be probable , any asset write-offs would be required to be recognized in operating income . consolidation — the company enters into transactions impacting the company 's equity interests in its affiliates . in connection with each transaction , the company must determine whether the transaction impacts the company 's consolidation conclusion by first determining whether the transaction should be evaluated under the variable interest model or the voting model . in determining which consolidation model applies to the transaction , the company is required to make judgments about how the entity operates , the most significant of which are whether ( i ) the entity has sufficient equity to finance its activities , ( ii ) the equity holders , as a group , have the characteristics of a controlling financial interest , and ( iii ) whether the entity has non-substantive voting rights . if the entity is determined to be a variable interest entity , the most significant judgment in determining whether the company must consolidate the entity is whether the company , including its related parties and de facto agents , collectively have power and benefits . if aes is determined to have power and benefits , the entity will be consolidated by aes . alternatively , if the entity is determined to be a voting model entity , the most significant judgments involve determining whether the non-aes shareholders have substantive participating rights . the assessment of shareholder rights and whether they are substantive participating rights requires significant judgment since the rights provided under shareholders ' agreements may include selecting , terminating , and setting the compensation of 113 | 2019 annual report management responsible for implementing the subsidiary 's policies and procedures , and establishing operating and capital decisions of the entity , including budgets , in the ordinary course of business . on the other hand , if shareholder rights are only protective in

net cash used in investing activities decreased $ 2.1 billion for the year ended december 31 , 2018 compared to december 31 , 2017 . investing cash flows ( in millions ) proceeds from dispositions increased by $ 1.9 billion , primarily due to the sales of masinloc , electrica santiago , eletropaulo , ctng and the dpl peaker assets in 2018 , partially offset by the sale of the kazakhstan chps in 2017 and transaction costs incurred for the beckjord sale . payments for the acquisitions of business interests decreased by $ 543 million , primarily due to the acquisitions of spower and alto sertão ii in 2017. cash resulting from net purchases of short-term investments decreased by $ 339 million , primarily due to the sale of eletropaulo . 105 | 2019 annual report capital expenditures decreased $ 56 million , discussed further below . capital expenditures ( in millions ) growth expenditures increased $ 114 million , primarily due to higher spending for the southland re-powering project ; partially offset by lower spending resulting from the completion of the colon project and the completion of the combined cycle project at los mina . maintenance expenditures decreased $ 129 million , primarily due to the deconsolidation of eletropaulo in q4 2017. environmental expenditures decreased $ 41 million , primarily at ipalco due to lower spending for npdes compliance . financing activities fiscal year 2019 versus 2018 net cash used in financing activities decreased $ 1.6 billion for the year ended december 31 , 2019 compared to december 31 , 2018 . financing cash flows ( in millions ) see note 11 — debt in item 8.— financial statements and supplementary data of this form 10-k for more information regarding significant debt transactions . the $ 483 million impact from recourse debt activity is primarily due to higher net repayments of parent company debt in the prior year . the $ 387 million impact from parent company revolver transactions is primarily from higher repayments in the prior year , and higher borrowings in 2019 for general corporate cash management activities .


 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.
     ```net cash used in investing activities decreased $ 2.1 billion for the year ended december 31 , 2018 compared to december 31 , 2017 . investing cash flows ( in millions ) proceeds from dispositions increased by $ 1.9 billion , primarily due to the sales of masinloc , electrica santiago , eletropaulo , ctng and the dpl peaker assets in 2018 , partially offset by the sale of the kazakhstan chps in 2017 and transaction costs incurred for the beckjord sale . payments for the acquisitions of business interests decreased by $ 543 million , primarily due to the acquisitions of spower and alto sertão ii in 2017. cash resulting from net purchases of short-term investments decreased by $ 339 million , primarily due to the sale of eletropaulo . 105 | 2019 annual report capital expenditures decreased $ 56 million , discussed further below . capital expenditures ( in millions ) growth expenditures increased $ 114 million , primarily due to higher spending for the southland re-powering project ; partially offset by lower spending resulting from the completion of the colon project and the completion of the combined cycle project at los mina . maintenance expenditures decreased $ 129 million , primarily due to the deconsolidation of eletropaulo in q4 2017. environmental expenditures decreased $ 41 million , primarily at ipalco due to lower spending for npdes compliance . financing activities fiscal year 2019 versus 2018 net cash used in financing activities decreased $ 1.6 billion for the year ended december 31 , 2019 compared to december 31 , 2018 . financing cash flows ( in millions ) see note 11 — debt in item 8.— financial statements and supplementary data of this form 10-k for more information regarding significant debt transactions . the $ 483 million impact from recourse debt activity is primarily due to higher net repayments of parent company debt in the prior year . the $ 387 million impact from parent company revolver transactions is primarily from higher repayments in the prior year , and higher borrowings in 2019 for general corporate cash management activities .
```    
 Suspicious Activity Report : operating cash flows ( in millions ) ( 1 ) the change in adjusted net income is defined as the variance in net income , net of the total adjustments to net income as shown on the consolidated statements of cash flows in item 8.— financial statements and supplementary data of this form 10-k. ( 2 ) the change in working capital is defined as the variance in total c hanges in operating assets and liabilities as shown on the consolidated statements of cash flows in item 8.— financial statements and supplementary data of this form 10-k. amounts included in the chart above include the results of discontinued operations , where applicable . 103 | 2019 annual report adjusted net income decreased $ 40 million primarily due to lower margins at our eurasia sbu and a 2017 favorable impact at uruguaiana as a result of a legal settlement . these impacts were partially offset by higher margins in 2018 at our south america , mcac and us and utilities sbus . working capital requirements increased $ 121 million , primarily due to higher insurance receivables at andres , deconsolidation of eletropaulo , lower collections at los mina and itabo , and the timing of payments on coal purchases at gener . these impacts were partially offset by the collections on the construction performance obligation from the offtaker at vietnam , higher cammesa collections at alicura , and the timing of payments on coal purchases at puerto rico . investing activities fiscal year 2019 versus 2018 net cash used in investing activities increased $ 2.2 billion for the year ended december 31 , 2019 compared to december 31 , 2018 . investing cash flows ( in millions ) proceeds from dispositions decreased $ 1.8 billion , primarily due to the sales of masinloc , electrica santiago , ctng , eletropaulo , and the dpl peaker assets in 2018 ; partially offset by the sale of a portion of our interest in a portfolio of spower 's operating assets and the sale of the kilroot and ballylumford plants in the united kingdom in 2019. contributions and loans to equity affiliates increased $ 179 million , primarily due to project funding requirements at spower . capital expenditures increased $ 284 million , discussed further below . 104 | 2019 annual report capital expenditures ( in millions ) growth expenditures increased $ 130 million , primarily due to higher investments in solar projects at distributed energy and renewable energy projects in argentina ; partially offset by a decrease in payments for the southland re-powering projects . maintenance expenditures increased $ 173 million , primarily at andres as a result of the steam turbine lightning damage , at dpl from storm damages , and at changuinola due to the upgrade of the tunnel lining . environmental expenditures decreased $ 19 million , primarily at ipalco due to lower spending for naaqs , npdes and ccr rule compliance . fiscal year 2018 versus 2017 story_separator_special_tag transactions ; restrictions and limitations on mergers and acquisitions , sales of assets , leases , transactions with affiliates and off-balance sheet and derivative arrangements ; maintenance of certain financial ratios ; and financial and other reporting requirements . as of december 31 , 2019 , we were in compliance with these covenants at the parent company level . non-recourse debt while the lenders under our non-recourse debt financings generally do not have direct recourse to the parent company , defaults thereunder can still have important consequences for our results of operations and liquidity , including , without limitation : reducing our cash flows as the subsidiary will typically be prohibited from distributing cash to the parent company during the time period of any default ; triggering our obligation to make payments under any financial guarantee , letter of credit or other credit support we have provided to or on behalf of such subsidiary ; causing us to record a loss in the event the lender forecloses on the assets ; and triggering defaults in our outstanding debt at the parent company . 108 | 2019 annual report for example , our senior secured credit facility and outstanding debt securities at the parent company include events of default for certain bankruptcy-related events involving material subsidiaries . in addition , our revolving credit agreement at the parent company includes events of default related to payment defaults and accelerations of outstanding debt of material subsidiaries . some of our subsidiaries are currently in default with respect to all or a portion of their outstanding indebtedness . the total non-recourse debt classified as current in the accompanying consolidated balance sheets amounts to $ 1.9 billion . the portion of current debt related to such defaults was $ 320 million at december 31 , 2019 , all of which was non-recourse debt related to two subsidiaries — aes puerto rico and aes ilumina . an additional $ 5 million of debt in default exists at the subsidiary aes jordan solar which was classified as a current held-for-sale liability at december 31 , 2019 . none of the defaults are payment defaults , but are instead technical defaults triggered by failure to comply with other covenants or other conditions contained in the non-recourse debt documents due to the bankruptcy of the offtaker . see note 11 — debt in item 8.— financial statements and supplementary data of this form 10-k for additional detail . none of the subsidiaries that are currently in default are subsidiaries that met the applicable definition of materiality under the parent company 's debt agreements as of december 31 , 2019 , in order for such defaults to trigger an event of default or permit acceleration under the parent company 's indebtedness . story_separator_special_tag the company selects and uses a set of publicly traded companies from the relevant industry to estimate the discount rate inputs . management applies judgment in the selection of such companies based on its view of the 112 | 2019 annual report most likely market participants . it is reasonably possible that the selection of a different set of likely market participants could produce different input assumptions and result in the use of a different discount rate . accounting for derivative instruments and hedging activities — we enter into various derivative transactions in order to hedge our exposure to certain market risks . we primarily use derivative instruments to manage our interest rate , commodity , and foreign currency exposures . we do not enter into derivative transactions for trading purposes . see note 6 — derivative instruments and hedging activities included in item 8 of this form 10-k for further information on the classification . the fair value measurement standard requires the company to consider and reflect the assumptions of market participants in the fair value calculation . these factors include nonperformance risk ( the risk that the obligation will not be fulfilled ) and credit risk , both of the reporting entity ( for liabilities ) and of the counterparty ( for assets ) . due to the nature of the company 's interest rate swaps , which are typically associated with non-recourse debt , credit risk for aes is evaluated at the subsidiary level rather than at the parent company level . nonperformance risk on the company 's derivative instruments is an adjustment to the initial asset/liability fair value position that is derived from internally developed valuation models that utilize observable market inputs . as a result of uncertainty , complexity , and judgment , accounting estimates related to derivative accounting could result in material changes to our financial statements under different conditions or utilizing different assumptions . as a part of accounting for these derivatives , we make estimates concerning nonperformance , volatilities , market liquidity , future commodity prices , interest rates , credit ratings ( both ours and our counterparty 's ) , and future exchange rates . refer to note 5 — fair value included in item 8 of this form 10-k for additional details . the fair value of our derivative portfolio is generally determined using internal and third party valuation models , most of which are based on observable market inputs , including interest rate curves and forward and spot prices for currencies and commodities . the company derives most of its financial instrument market assumptions from market efficient data sources ( e.g . , bloomberg , reuters and platt 's ) . in some cases , where market data is not readily available , management uses comparable market sources and empirical evidence to derive market assumptions to determine a financial instrument 's fair value . in certain instances , the published curve may not extend through the remaining term of the contract and management must make assumptions to extrapolate the curve . specifically , where there is limited forward curve data with respect to foreign exchange contracts , beyond the traded points the company utilizes the interest rate differential approach to construct the remaining portion of the forward curve . additionally , in the absence of quoted prices , we may rely on `` indicative pricing `` quotes from financial institutions to input into our valuation model for certain of our foreign currency swaps . these indicative pricing quotes do not constitute either a bid or ask price and therefore are not considered observable market data . for individual contracts , the use of different valuation models or assumptions could have a material effect on the calculated fair value . regulatory assets — management continually assesses whether regulatory assets are probable of future recovery by considering factors such as applicable regulatory changes , recent rate orders applicable to other regulated entities , and the status of any pending or potential deregulation legislation . if future recovery of costs ceases to be probable , any asset write-offs would be required to be recognized in operating income . consolidation — the company enters into transactions impacting the company 's equity interests in its affiliates . in connection with each transaction , the company must determine whether the transaction impacts the company 's consolidation conclusion by first determining whether the transaction should be evaluated under the variable interest model or the voting model . in determining which consolidation model applies to the transaction , the company is required to make judgments about how the entity operates , the most significant of which are whether ( i ) the entity has sufficient equity to finance its activities , ( ii ) the equity holders , as a group , have the characteristics of a controlling financial interest , and ( iii ) whether the entity has non-substantive voting rights . if the entity is determined to be a variable interest entity , the most significant judgment in determining whether the company must consolidate the entity is whether the company , including its related parties and de facto agents , collectively have power and benefits . if aes is determined to have power and benefits , the entity will be consolidated by aes . alternatively , if the entity is determined to be a voting model entity , the most significant judgments involve determining whether the non-aes shareholders have substantive participating rights . the assessment of shareholder rights and whether they are substantive participating rights requires significant judgment since the rights provided under shareholders ' agreements may include selecting , terminating , and setting the compensation of 113 | 2019 annual report management responsible for implementing the subsidiary 's policies and procedures , and establishing operating and capital decisions of the entity , including budgets , in the ordinary course of business . on the other hand , if shareholder rights are only protective in

