the company named brian deck as interim president and chief executive officer and matt meister as interim chief financial officer effective september 22 , 2020 , and each as official successors to those roles effective december 11 , 2020 and december 14 , 2020 , respectively . the company also named alan feldman as interim chairman of its board of directors effective june 20 , 2020 and as official successor to this role effective on september 22 , 2020. business conditions and outlook during 2020 , despite significant decline in our revenues , our operating margins declined only marginally , due to expense control , the strength of our aftermarket business and the contribution from recent acquisitions . additionally , we have continued to enhance our internal operating efficiency with the ongoing benefits of our restructuring program and management through the jbt operating system . in terms of top–line growth , the environment in 2020 was characterized by business uncertainty which impacted our ability to convert commercial activity into order commitments at foodtech . passenger air travel came to a halt in the early months of 2020 and has not experienced a meaningful recovery to date . this has significantly impacted aerotech revenue which we expect may not fully recover until 2024. moreover , recurring revenue ( aftermarket parts and services and lease revenues ) , which represented more than 44 % of total jbt revenue , has provided stability and reliable profitability demonstrating a resilient model built to sustain such unusual market forces . while the demand environment at foodtech has improved since the early days of the pandemic , the economic environment has changed indefinitely and jbt is evolving to continue supporting our food and air transportation customers during a difficult period . we have also captured sustainable structural improvements from our restructuring program . in addition , the real-time production information provided by the jbt operating system enables us to proactively align costs with current market conditions . impact of covid-19 on our business the covid-19 pandemic has resulted and will continue to result in significant economic disruption and has adversely affected our business . the following uncertainties exist and may continue to have a negative impact on our overall financial results : our ability to obtain raw material from domestic and international suppliers required to manufacture our products and execute our services ; our ability to secure inbound and outbound logistics to and from our facilities , with additional delays linked to international border crossings and the associated approvals and documentation ; our ability to access customer locations in order to execute installations , new product deliveries , maintenance and repair services ; our ability to efficiently operate our facilities and meet customer obligations due to modified employee work patterns resulting from social distancing guidelines , absence due to illness and cautionary quarantines and or government ordered closures ; limitations on the ability of our customers to conduct their business , and resulting impacts to our customers ' purchasing patterns , from food and travel disruption , social distancing guidelines , absence due to illness and cautionary quarantines or government ordered closures ; and limitations on the ability of our customers to meet their financial obligations to jbt . specifically , when compared to the prior year , and as a result of the global shelter in place and social distancing requirements that have continued throughout 2020 , the food industry has experienced a notable rise in retail demand . this increase in demand is offset by a decline in demand for food service due to the reduced restaurant , travel and school activity . while our foodtech customers are present in both the retail and food services channels , this shift in demand creates volatility and uncertainty in our customer 's purchasing patterns . our inbound foodtech orders in the fourth quarter and year-to-date were 1 % - 2 % lower in both periods than those of 2019 , but progressively increased as the year unfolded as we continued to see improved access to customer plants and positive recovery for food processors , specifically for those in the quick service restaurant drive through businesses and those servicing the sustained `` eat-at-home `` trend . our customers appear to be investing more to support these trends , addressing immediate capacity needs and creating strong interest in foodtech 's broad product offerings . although the pandemic has negatively impacted our full year inbound numbers and results of operations in foodtech compared to the prior year , we also believe it may present an opportunity to accelerate initiatives that were previously underway to bring automation solutions to the protein market . in addition , the liquid foods end products such as juice , canned foods and ready meals remain in high retail demand during the pandemic . for aerotech , a large portion of the business depends on the passenger airline industry . passenger air travel had virtually halted world-wide as of the end of the first quarter , slowly began to resume as areas re-opened throughout the year and saw a small increase 32 in the fourth quarter during the holiday period . however global passenger traffic continues to be well below pre-pandemic levels . this has directly impacted our mobile equipment and airport services business throughout 2020 , and we expect this impact of the pandemic to continue well into 2023. airport infrastructure spending , which is subject to long lead time contracts , remained relatively stable through the fourth quarter , and , although our projections have more uncertainty than in pre-pandemic periods , we expect demand and inbound orders for these products to continue into 2021. in addition , the cost controls including restructuring , and diversity of revenue streams within the business , have allowed for aerotech to remain solidly profitable despite these impacts and uncertainties . story_separator_special_tag we recognized restructuring charges of $ 9.9 million , net of a cumulative release of the related liability of $ 0.3 million , through december 31 , 2020 , and expect to recognize the remaining costs by end of the year 2021. cumulative cost savings for the 2020 restructuring plan during the year ended december 31 , 2020 was $ 0.7 million , with savings of $ 0.5 million in cost of sales and $ 0.2 million in selling , general and administrative expense . for the 2020 restructuring plan , incremental cost savings we expect to realize during the years 2021 and 2022 are as follows : replace_table_token_8_th for additional financial information about restructuring , refer to note 19. restructuring in the notes to condensed consolidated financial statements . 39 operating results of business segments replace_table_token_9_th ( 1 ) refer to note 18. business segments in the notes to condensed consolidated financial statements . ( 2 ) segment operating profit is defined as total segment revenue less segment operating expense . corporate expense , restructuring expense , interest income and expense and income taxes are not allocated to the segments . corporate expense generally includes corporate staff-related expense , stock-based compensation , lifo adjustments , certain foreign currency-related gains and losses , and the impact of unusual or strategic events not representative of segment operations . jbt foodtech 2020 compared with 2019 foodtech revenue declined 7 % for the year ended december 31 , 2020 compared to 2019. acquisitions contributed 4 % revenue growth while organic revenue declined 11 % from 2019. unfavorable foreign currency translation was not significant for the year ended december 31 , 2020. organic revenue declines reflected significant disruption in orders and revenues due to global slowdowns in business delaying capital expenditures as a result of the covid-19 pandemic . organic recurring revenues increased 3.2 % in the year ended december 31 , 2020 compared to 2019 , as most food processing companies sustained critical operations , despite the disruption from the covid-19 pandemic , requiring maintenance and parts . foodtech operating profit declined $ 14.1 million , or 8 % , year over year for the year ended december 31 , 2020 compared to 2019. operating profit margin was 13.8 % in 2020 compared to 13.9 % in the prior year . operating profit margin declined in 2020 compared to 2019 due to the significant revenue decline experienced in 2020. gross profit margins increased 100 bps in 2020 compared to margins in 2019 primarily due to a higher recurring revenue mix , which increased from 44 % of revenues in 2019 to 49 % of revenues 40 in 2020. selling , general and administrative expenses were $ 12.2 million lower in 2020 compared to 2019 , 21.3 % as a percent of sales in 2020 compared to 20.5 % in 2019. the decline was primarily reflective of cost actions taken in reaction to the covid-19 pandemic , including reduced travel and lower compensation . savings were partially offset by higher costs from full year inclusion of 2019 acquisition-related expenses . currency translation reduced comparative earnings during 2020 by $ 5.3 million . jbt aerotech 2020 compared with 2019 aerotech revenue decreased $ 122.6 million in 2020 compared to 2019. this is a 20 % decrease with a 19 % decline contributed by our mobile equipment business and a 4 % decline contributed by our service business , partially offset by 3 % growth contributed by our fixed equipment business . mobile equipment revenue decline was due to lower equipment and aftermarket sales driven by significantly lower customer demand as a result of the covid-19 pandemic . service revenue decline was driven by lower revenues from maintenance contracts at domestic airports mostly as a result of the covid-19 pandemic . fixed equipment revenue growth was primarily due to higher passenger boarding bridge activity and related products to domestic airports partly offset by lower aftermarket sales as a result of the covid-19 pandemic . revenues from acquisitions and currency translation had an immaterial impact . aerotech operating profit decreased $ 26.0 million in 2020 compared to 2019. jbt aerotech 's operating profit margin was 10.7 % compared to 12.8 % in the prior year , reflecting a decrease of 210 bps . gross profit margins declined by 220 bps due to an inventory impairment resulting from restructuring , lower mix of aftermarket sales and lost leverage of fixed manufacturing costs as a result of lower revenues which were all partly offset by productivity and material cost improvements . selling , general and administrative expenses in 2020 were $ 11.9 million lower than 2019 as a result of cost reduction efforts and were 10 bps lower as a percent of sales compared to 2019. currency translation did not have a material impact on our operating profit comparative results . corporate expense 2020 compared with 2019 corporate expense decreased by $ 13.6 million compared to 2019 , driven primarily by a decrease in m & a related costs , lower incentive compensation , and foreign currency transactions gain , partially offset by management succession costs in 2020. corporate expense as a percent of revenues decreased to 2.8 % in 2020 compared to 3.2 % in 2019. inbound orders and order backlog inbound orders represent the estimated sales value of confirmed customer orders received during the years ended december 31 , replace_table_token_10_th order backlog is calculated as the estimated sales value of unfilled , confirmed customer orders as of december 31 , replace_table_token_11_th order backlog in our jbt foodtech segment at december 31 , 2020 increased by $ 25.2 million compared to december 31 , 2019. we expect to convert almost all of jbt foodtech backlog at december 31 , 2020 into revenue during 2021. order backlog in our jbt aerotech segment at december 31 , 2020 decreased by $ 17.7 million compared to december 31 , 2019. we expect to convert 81 % of the jbt aerotech backlog

liquidity and capital resources our primary sources of liquidity are cash flows provided by operating activities and borrowings from our revolving credit facility . our liquidity as of december 31 , 2020 , or cash plus borrowing capacity under our revolving credit facilities was $ 449.6 million . the cash flows generated by our operations and revolving credit facility are expected to be sufficient to satisfy our working capital needs , new product development , restructuring expense , capital expenditures , dividend payments , pension contributions , payments due under the cares act for payroll tax deferral and other financing requirements . in light of the covid-19 pandemic , and actions taken in response to the pandemic as described above under `` impact of covid-19 on our business '' , we have taken near-term actions to maintain our liquidity and reduce debt by reducing capital expenditures , operating expenses and managing trade receivables . additionally , we are pursuing opportunities to increase liquidity by availing ourselves of benefits under the cares act including both deferred tax payments and tax credits related to the covid-19 pandemic . for the year ended december 31 , 2020 , we had total operating cash flow of $ 252.0 million and $ 231.7 million in free cash flow , which includes $ 10.3 million in benefits from deferred payroll tax payments under the cares act . in addition , our capital expenditures were $ 34.3 million for 2020 compared to $ 37.9 million in the prior year . we believe jbt 's strong balance sheet , operating cash flows , and access to capital at december 31 , 2020 positions us to navigate through the challenging economic conditions associated with the covid-19 pandemic . as of december 31 , 2020 , we had $ 47.5 million of cash and cash equivalents , $ 41.7 million of which was held by our foreign subsidiaries . although these funds are considered permanently invested in our foreign subsidiaries , we are not presently aware of any restriction on the repatriation of these funds .


 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 our primary sources of liquidity are cash flows provided by operating activities and borrowings from our revolving credit facility . our liquidity as of december 31 , 2020 , or cash plus borrowing capacity under our revolving credit facilities was $ 449.6 million . the cash flows generated by our operations and revolving credit facility are expected to be sufficient to satisfy our working capital needs , new product development , restructuring expense , capital expenditures , dividend payments , pension contributions , payments due under the cares act for payroll tax deferral and other financing requirements . in light of the covid-19 pandemic , and actions taken in response to the pandemic as described above under `` impact of covid-19 on our business '' , we have taken near-term actions to maintain our liquidity and reduce debt by reducing capital expenditures , operating expenses and managing trade receivables . additionally , we are pursuing opportunities to increase liquidity by availing ourselves of benefits under the cares act including both deferred tax payments and tax credits related to the covid-19 pandemic . for the year ended december 31 , 2020 , we had total operating cash flow of $ 252.0 million and $ 231.7 million in free cash flow , which includes $ 10.3 million in benefits from deferred payroll tax payments under the cares act . in addition , our capital expenditures were $ 34.3 million for 2020 compared to $ 37.9 million in the prior year . we believe jbt 's strong balance sheet , operating cash flows , and access to capital at december 31 , 2020 positions us to navigate through the challenging economic conditions associated with the covid-19 pandemic . as of december 31 , 2020 , we had $ 47.5 million of cash and cash equivalents , $ 41.7 million of which was held by our foreign subsidiaries . although these funds are considered permanently invested in our foreign subsidiaries , we are not presently aware of any restriction on the repatriation of these funds .
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 Suspicious Activity Report : the company named brian deck as interim president and chief executive officer and matt meister as interim chief financial officer effective september 22 , 2020 , and each as official successors to those roles effective december 11 , 2020 and december 14 , 2020 , respectively . the company also named alan feldman as interim chairman of its board of directors effective june 20 , 2020 and as official successor to this role effective on september 22 , 2020. business conditions and outlook during 2020 , despite significant decline in our revenues , our operating margins declined only marginally , due to expense control , the strength of our aftermarket business and the contribution from recent acquisitions . additionally , we have continued to enhance our internal operating efficiency with the ongoing benefits of our restructuring program and management through the jbt operating system . in terms of top–line growth , the environment in 2020 was characterized by business uncertainty which impacted our ability to convert commercial activity into order commitments at foodtech . passenger air travel came to a halt in the early months of 2020 and has not experienced a meaningful recovery to date . this has significantly impacted aerotech revenue which we expect may not fully recover until 2024. moreover , recurring revenue ( aftermarket parts and services and lease revenues ) , which represented more than 44 % of total jbt revenue , has provided stability and reliable profitability demonstrating a resilient model built to sustain such unusual market forces . while the demand environment at foodtech has improved since the early days of the pandemic , the economic environment has changed indefinitely and jbt is evolving to continue supporting our food and air transportation customers during a difficult period . we have also captured sustainable structural improvements from our restructuring program . in addition , the real-time production information provided by the jbt operating system enables us to proactively align costs with current market conditions . impact of covid-19 on our business the covid-19 pandemic has resulted and will continue to result in significant economic disruption and has adversely affected our business . the following uncertainties exist and may continue to have a negative impact on our overall financial results : our ability to obtain raw material from domestic and international suppliers required to manufacture our products and execute our services ; our ability to secure inbound and outbound logistics to and from our facilities , with additional delays linked to international border crossings and the associated approvals and documentation ; our ability to access customer locations in order to execute installations , new product deliveries , maintenance and repair services ; our ability to efficiently operate our facilities and meet customer obligations due to modified employee work patterns resulting from social distancing guidelines , absence due to illness and cautionary quarantines and or government ordered closures ; limitations on the ability of our customers to conduct their business , and resulting impacts to our customers ' purchasing patterns , from food and travel disruption , social distancing guidelines , absence due to illness and cautionary quarantines or government ordered closures ; and limitations on the ability of our customers to meet their financial obligations to jbt . specifically , when compared to the prior year , and as a result of the global shelter in place and social distancing requirements that have continued throughout 2020 , the food industry has experienced a notable rise in retail demand . this increase in demand is offset by a decline in demand for food service due to the reduced restaurant , travel and school activity . while our foodtech customers are present in both the retail and food services channels , this shift in demand creates volatility and uncertainty in our customer 's purchasing patterns . our inbound foodtech orders in the fourth quarter and year-to-date were 1 % - 2 % lower in both periods than those of 2019 , but progressively increased as the year unfolded as we continued to see improved access to customer plants and positive recovery for food processors , specifically for those in the quick service restaurant drive through businesses and those servicing the sustained `` eat-at-home `` trend . our customers appear to be investing more to support these trends , addressing immediate capacity needs and creating strong interest in foodtech 's broad product offerings . although the pandemic has negatively impacted our full year inbound numbers and results of operations in foodtech compared to the prior year , we also believe it may present an opportunity to accelerate initiatives that were previously underway to bring automation solutions to the protein market . in addition , the liquid foods end products such as juice , canned foods and ready meals remain in high retail demand during the pandemic . for aerotech , a large portion of the business depends on the passenger airline industry . passenger air travel had virtually halted world-wide as of the end of the first quarter , slowly began to resume as areas re-opened throughout the year and saw a small increase 32 in the fourth quarter during the holiday period . however global passenger traffic continues to be well below pre-pandemic levels . this has directly impacted our mobile equipment and airport services business throughout 2020 , and we expect this impact of the pandemic to continue well into 2023. airport infrastructure spending , which is subject to long lead time contracts , remained relatively stable through the fourth quarter , and , although our projections have more uncertainty than in pre-pandemic periods , we expect demand and inbound orders for these products to continue into 2021. in addition , the cost controls including restructuring , and diversity of revenue streams within the business , have allowed for aerotech to remain solidly profitable despite these impacts and uncertainties . story_separator_special_tag we recognized restructuring charges of $ 9.9 million , net of a cumulative release of the related liability of $ 0.3 million , through december 31 , 2020 , and expect to recognize the remaining costs by end of the year 2021. cumulative cost savings for the 2020 restructuring plan during the year ended december 31 , 2020 was $ 0.7 million , with savings of $ 0.5 million in cost of sales and $ 0.2 million in selling , general and administrative expense . for the 2020 restructuring plan , incremental cost savings we expect to realize during the years 2021 and 2022 are as follows : replace_table_token_8_th for additional financial information about restructuring , refer to note 19. restructuring in the notes to condensed consolidated financial statements . 39 operating results of business segments replace_table_token_9_th ( 1 ) refer to note 18. business segments in the notes to condensed consolidated financial statements . ( 2 ) segment operating profit is defined as total segment revenue less segment operating expense . corporate expense , restructuring expense , interest income and expense and income taxes are not allocated to the segments . corporate expense generally includes corporate staff-related expense , stock-based compensation , lifo adjustments , certain foreign currency-related gains and losses , and the impact of unusual or strategic events not representative of segment operations . jbt foodtech 2020 compared with 2019 foodtech revenue declined 7 % for the year ended december 31 , 2020 compared to 2019. acquisitions contributed 4 % revenue growth while organic revenue declined 11 % from 2019. unfavorable foreign currency translation was not significant for the year ended december 31 , 2020. organic revenue declines reflected significant disruption in orders and revenues due to global slowdowns in business delaying capital expenditures as a result of the covid-19 pandemic . organic recurring revenues increased 3.2 % in the year ended december 31 , 2020 compared to 2019 , as most food processing companies sustained critical operations , despite the disruption from the covid-19 pandemic , requiring maintenance and parts . foodtech operating profit declined $ 14.1 million , or 8 % , year over year for the year ended december 31 , 2020 compared to 2019. operating profit margin was 13.8 % in 2020 compared to 13.9 % in the prior year . operating profit margin declined in 2020 compared to 2019 due to the significant revenue decline experienced in 2020. gross profit margins increased 100 bps in 2020 compared to margins in 2019 primarily due to a higher recurring revenue mix , which increased from 44 % of revenues in 2019 to 49 % of revenues 40 in 2020. selling , general and administrative expenses were $ 12.2 million lower in 2020 compared to 2019 , 21.3 % as a percent of sales in 2020 compared to 20.5 % in 2019. the decline was primarily reflective of cost actions taken in reaction to the covid-19 pandemic , including reduced travel and lower compensation . savings were partially offset by higher costs from full year inclusion of 2019 acquisition-related expenses . currency translation reduced comparative earnings during 2020 by $ 5.3 million . jbt aerotech 2020 compared with 2019 aerotech revenue decreased $ 122.6 million in 2020 compared to 2019. this is a 20 % decrease with a 19 % decline contributed by our mobile equipment business and a 4 % decline contributed by our service business , partially offset by 3 % growth contributed by our fixed equipment business . mobile equipment revenue decline was due to lower equipment and aftermarket sales driven by significantly lower customer demand as a result of the covid-19 pandemic . service revenue decline was driven by lower revenues from maintenance contracts at domestic airports mostly as a result of the covid-19 pandemic . fixed equipment revenue growth was primarily due to higher passenger boarding bridge activity and related products to domestic airports partly offset by lower aftermarket sales as a result of the covid-19 pandemic . revenues from acquisitions and currency translation had an immaterial impact . aerotech operating profit decreased $ 26.0 million in 2020 compared to 2019. jbt aerotech 's operating profit margin was 10.7 % compared to 12.8 % in the prior year , reflecting a decrease of 210 bps . gross profit margins declined by 220 bps due to an inventory impairment resulting from restructuring , lower mix of aftermarket sales and lost leverage of fixed manufacturing costs as a result of lower revenues which were all partly offset by productivity and material cost improvements . selling , general and administrative expenses in 2020 were $ 11.9 million lower than 2019 as a result of cost reduction efforts and were 10 bps lower as a percent of sales compared to 2019. currency translation did not have a material impact on our operating profit comparative results . corporate expense 2020 compared with 2019 corporate expense decreased by $ 13.6 million compared to 2019 , driven primarily by a decrease in m & a related costs , lower incentive compensation , and foreign currency transactions gain , partially offset by management succession costs in 2020. corporate expense as a percent of revenues decreased to 2.8 % in 2020 compared to 3.2 % in 2019. inbound orders and order backlog inbound orders represent the estimated sales value of confirmed customer orders received during the years ended december 31 , replace_table_token_10_th order backlog is calculated as the estimated sales value of unfilled , confirmed customer orders as of december 31 , replace_table_token_11_th order backlog in our jbt foodtech segment at december 31 , 2020 increased by $ 25.2 million compared to december 31 , 2019. we expect to convert almost all of jbt foodtech backlog at december 31 , 2020 into revenue during 2021. order backlog in our jbt aerotech segment at december 31 , 2020 decreased by $ 17.7 million compared to december 31 , 2019. we expect to convert 81 % of the jbt aerotech backlog

