the pretax impact of the risk management segment adjustments totals $ 8.5 million , with a corresponding adjustment to the provision for income taxes of $ 2.1 million relating to these items . there is no pretax impact of the corporate segment adjustments , but there is an adjustment to the provision for income taxes of $ 1.1 million . for the corporate segment , the clean energy related adjustments are described on page 47. for 2019 , the pretax impact of the brokerage segment adjustments totals $ 6.9 million , with no corresponding adjustment to the provision for income taxes relating to these items . the pretax impact of the risk management segment adjustments totals $ 5.6 million , with a corresponding adjustment to the provision for income taxes of $ 1.5 million relating to these items . the pretax impact of the corporate segment adjustments totals $ 17.9 million , with an adjustment to the benefit for income taxes of $ 3.9 million . for the corporate segment , the clean energy related adjustments are described on page 47 . 29 reconciliation of non-gaap measures - pre-tax earnings and diluted net earnings per share ( in millions except share and per share data ) earnings ( loss ) before income taxes provision ( benefit ) for income taxes net earnings ( loss ) net earnings ( loss ) attributable to noncontrolling interests net earnings ( loss ) attributable to controlling interests diluted net earnings ( loss ) per share year ended dec 31 , 2020 brokerage , as reported $ 1,142.3 $ 276.3 $ 866.0 $ 4.9 $ 861.1 $ 4.42 net losses on divestitures 5.8 1.1 4.7 — 4.7 0.02 acquisition integration 25.1 5.8 19.3 — 19.3 0.10 workforce and lease termination 43.9 9.9 34.0 — 34.0 0.17 acquisition related adjustments 51.0 11.3 39.7 — 39.7 0.20 brokerage , as adjusted $ 1,268.1 $ 304.4 $ 963.7 $ 4.9 $ 958.8 $ 4.91 risk management , as reported $ 89.4 $ 22.5 $ 66.9 $ — $ 66.9 $ 0.34 workforce and lease termination 7.9 1.9 6.0 — 6.0 0.04 acquisition related adjustments 0.6 0.2 0.4 — 0.4 — risk management , as adjusted $ 97.9 $ 24.6 $ 73.3 $ - $ 73.3 $ 0.38 corporate , as reported $ ( 360.8 ) $ ( 286.0 ) $ ( 74.8 ) $ 34.4 $ ( 109.2 ) $ ( 0.56 ) income tax related impact — 1.1 ( 1.1 ) — ( 1.1 ) ( 0.01 ) corporate , as adjusted $ ( 360.8 ) $ ( 284.9 ) $ ( 75.9 ) $ 34.4 $ ( 110.3 ) $ ( 0.57 ) year ended dec 31 , 2019 brokerage , as reported $ 946.5 $ 229.2 $ 717.3 $ 17.2 $ 700.1 $ 3.68 net gains on divestitures ( 62.3 ) ( 14.8 ) ( 47.5 ) — ( 47.5 ) ( 0.25 ) acquisition integration 20.4 4.3 16.1 — 16.1 0.08 workforce and lease termination 44.8 9.7 35.1 — 35.1 0.19 acquisition related adjustments 7.5 1.7 5.8 — 5.8 0.03 levelized foreign currency translation ( 3.5 ) ( 0.9 ) ( 2.6 ) — ( 2.6 ) ( 0.01 ) brokerage , as adjusted $ 953.4 $ 229.2 $ 724.2 $ 17.2 $ 707.0 $ 3.72 risk management , as reported $ 88.4 $ 22.2 $ 66.2 $ — $ 66.2 $ 0.35 workforce and lease termination 7.9 2.7 5.2 — 5.2 0.03 acquisition related adjustments ( 2.4 ) ( 1.4 ) ( 1.0 ) — ( 1.0 ) ( 0.01 ) levelized foreign currency translation 0.1 0.2 ( 0.1 ) — ( 0.1 ) — risk management , as adjusted $ 94.0 $ 23.7 $ 70.3 $ - $ 70.3 $ 0.37 corporate , as reported $ ( 408.8 ) $ ( 341.1 ) $ ( 67.7 ) $ 29.8 $ ( 97.5 ) $ ( 0.51 ) clean energy related adjustments 14.9 3.2 11.7 2.5 9.2 0.05 workforce 3.0 0.7 2.3 — 2.3 0.01 corporate , as adjusted $ ( 390.9 ) $ ( 337.2 ) $ ( 53.7 ) $ 32.3 $ ( 86.0 ) $ ( 0.45 ) covid-19 impact in our property/casualty brokerage operations , during fourth quarter 2020 , ( a ) our customer retention remained at pre‑pandemic levels , ( b ) new business generation was above pre-pandemic levels , offset somewhat by non-recurring business that was below pre‑pandemic levels , ( c ) renewal exposure units ( i.e . , insured values , payrolls , employees , miles driven , etc . ) declined ; however , premium rates across most geographies and lines of coverage have continued to increase , effectively mitigating exposure unit declines , and ( d ) net positive mid-term policy modifications were slightly higher than fourth quarter 2019. thus far in the first quarter of 2021 , property/casualty customer exposure unit renewals showed improvement compared to lows seen in april and may 2020 , as our customers ' businesses continue to recover and economic activity increases . full policy cancellations have remained similar to pre-pandemic levels , and we continue to see property/casualty premium rates move higher overall which may partially , or fully , offset future declines in exposure units , if any . 30 in our employee benefits brokerage operations , during the fourth quarter of 2020 we saw a decrease in new consulting and special project work , while covered lives on renewal business were similar to the third quarter of 2020. our january 1 , 2021 health and welfare renewals have shown covered lives being consistent with levels seen in the fourth quarter of 2020 , although still not at pre-pandemic levels . consulting engagements and special project work improved slightly from fourth quarter levels , but are still below pre‑pandemic levels . story_separator_special_tag we then discount these payments to present value using a risk-adjusted rate that takes into consideration market-based rates of return that reflect the ability of the acquired entity to achieve the targets . changes in financial projections , market participant assumptions for revenue growth and or profitability , or the risk-adjusted discount rate , would result in a change in the fair value of recorded earnout obligations . see note 3 to our 2020 consolidated financial s tatements for additional discussion on our 2020 business combinations . business combinations and dispositions see note 3 to our 2020 consolidated financial statements for a discussion of our 2020 business combinations . we did not have any material dispositions in 2018. on january 8 , 2019 , we sold a travel insurance brokerage operation that was initially purchased in 2014. in first quarter 2019 , we recognized a one-time , net gain of $ 0.17 of diluted net earnings per share as a result of the sale . results of operations information regarding non-gaap measures and other in the discussion and analysis of our results of operations that follows , in addition to reporting financial results in accordance with gaap , we provide information regarding ebitdac , ebitdac margin , adjusted ebitdac , adjusted ebitdac margin , diluted net earnings per share , as adjusted ( adjusted eps ) , adjusted revenues , adjusted compensation and operating expenses , adjusted compensation expense ratio , adjusted operating expense ratio and organic revenue . these measures are not in accordance with , or an alternative to , the gaap information provided in this report . we believe that these presentations provide useful information to management , analysts and investors regarding financial and business trends relating to our results of operations and financial condition because they provide investors with measures that our chief operating decision maker uses when reviewing the company 's performance , and for the other reasons described below . our industry peers may provide similar supplemental non-gaap information with respect to one or more of these measures , although they may not use the same or comparable terminology and may not make identical adjustments . the non-gaap information we provide should be used in addition to , but not as a substitute for , the gaap information provided . we make determinations regarding certain elements of executive officer incentive compensation , performance share awards and annual cash incentive awards , partly on the basis of measures related to adjusted ebitdac . adjusted non-gaap presentation - we believe that the adjusted non-gaap presentation of our 2020 and 2019 information , presented on the following pages , provides stockholders and other interested persons with useful information regarding certain financial metrics that may assist such persons in analyzing our operating results as they develop a future earnings outlook for us . the after-tax amounts related to the adjustments were computed using the normalized effective tax rate for each respective period . adjusted measures - we define these measures as revenues ( for the brokerage segment ) , revenues before reimbursements ( for the risk management segment ) , net earnings , compensation expense and operating expense , respectively , each adjusted to exclude the following , as applicable : o net losses or gains on divestitures , which are primarily net losses or proceeds received related to sales of books of business and other divestiture transactions , such as the disposal of a business through sale or closure . o costs related to divestitures , which include legal and other costs related to certain operations that are being exited by us . o acquisition integration costs , which include costs related to certain large acquisitions , outside the scope of our usual tuck-in strategy , not expected to occur on an ongoing basis in the future once we fully assimilate the applicable acquisition . these costs are typically associated with redundant workforce , extra lease space , duplicate services and external costs incurred to assimilate the acquisition with our it related systems . o workforce related charges , which primarily include severance costs ( either accrued or paid ) related to employee terminations and other costs associated with redundant workforce . o lease termination related charges , which primarily include costs related to terminations of real estate leases and abandonment of leased space . 34 o a cquisition related adjustments , which include change in estimated acquisition earnout payables adjustments , impairment charges and acquisition related compensation charges . prior to first quarter 2019 , this adjustment also reflected impacts of acquisition valuation true-ups . o the impact of foreign currency translation , as applicable . the amounts excluded with respect to foreign currency translation are calculated by applying current year foreign exchange rates to the same period in the prior year . o effective income tax rate impact , which represents the impact in third quarter 2020 of one-time taxes associated with the realignment of our operations to continue to conduct certain business in the eu after brexit and the change in the u.k. effective income tax rate from 17.5 % to 19 % . in addition , it also includes the impact in third quarter 2019 related to prior quarters in 2019 for the decrease in the u.s. effective income tax rate used to compute the provision for income taxes in fourth quarter 2019. adjusted ratios - adjusted compensation expense and adjusted operating expense , respectively , each divided by adjusted revenues . non-gaap earnings measures we believe that the presentation of ebitdac , ebitdac margin , adjusted ebitdac , adjusted ebitdac margin and adjusted eps for the brokerage and risk management segment , each as defined below , provides a meaningful representation of our operating performance . adjusted eps is a performance measure and should not be used as a measure of our liquidity . we also consider ebitdac and ebitdac margin as ways to measure financial performance on an ongoing basis .

cash flows from investing activities capital expenditures - capital expenditures were $ 99.3 million , $ 138.8 million and $ 124.4 million for 2020 , 2019 and 2018 , respectively . in addition , 2020 and 2019 capital expenditures include amounts incurred related to investments made in information technology and software development projects . relating to the development of our new corporate headquarters , we received property tax related credits under a tax-increment financing note from rolling meadows , illinois and an illinois state edge tax credit . incentives from these two programs could total between $ 60.0 million and $ 90.0 million over a fifteen-year period . in 2021 , we expect total expenditures for capital improvements to be approximately $ 150.0 million , part of which is related to expenditures on office moves and expansions and updating computer systems and equipment . acquisitions - cash paid for acquisitions , net of cash and restricted cash acquired , was $ 324.3 million , $ 1,266.8 million and $ 784.8 million in 2020 , 2019 and 2018 , respectively . the decreased use of cash for acquisitions in 2020 compared to 2019 was primarily due to a decrease in the number and size of acquisitions in 2020 than occurred in 2019. the increased use of cash for acquisitions in 2019 compared to 2018 was primarily due to an increase in the number and size of acquisitions in 2019 than occurred in 2018. in addition , during 2020 , 2019 and 2018 we issued 3.0 million shares ( $ 306.1 million ) , 1.9 million shares ( $ 166.1 million ) and 0.8 million shares ( $ 60.8 million ) , respectively , of our common stock as payment for a portion of the total consideration paid for acquisitions and earnout payments . we completed 27 , 49 and 48 acquisitions in 2020 , 2019 and 2018 , respectively . annualized revenues of businesses acquired in 2020 , 2019 and 2018 totaled approximately $ 251.4 million , $ 468.2 million and $ 339.8 million , respectively .


 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 flows from investing activities capital expenditures - capital expenditures were $ 99.3 million , $ 138.8 million and $ 124.4 million for 2020 , 2019 and 2018 , respectively . in addition , 2020 and 2019 capital expenditures include amounts incurred related to investments made in information technology and software development projects . relating to the development of our new corporate headquarters , we received property tax related credits under a tax-increment financing note from rolling meadows , illinois and an illinois state edge tax credit . incentives from these two programs could total between $ 60.0 million and $ 90.0 million over a fifteen-year period . in 2021 , we expect total expenditures for capital improvements to be approximately $ 150.0 million , part of which is related to expenditures on office moves and expansions and updating computer systems and equipment . acquisitions - cash paid for acquisitions , net of cash and restricted cash acquired , was $ 324.3 million , $ 1,266.8 million and $ 784.8 million in 2020 , 2019 and 2018 , respectively . the decreased use of cash for acquisitions in 2020 compared to 2019 was primarily due to a decrease in the number and size of acquisitions in 2020 than occurred in 2019. the increased use of cash for acquisitions in 2019 compared to 2018 was primarily due to an increase in the number and size of acquisitions in 2019 than occurred in 2018. in addition , during 2020 , 2019 and 2018 we issued 3.0 million shares ( $ 306.1 million ) , 1.9 million shares ( $ 166.1 million ) and 0.8 million shares ( $ 60.8 million ) , respectively , of our common stock as payment for a portion of the total consideration paid for acquisitions and earnout payments . we completed 27 , 49 and 48 acquisitions in 2020 , 2019 and 2018 , respectively . annualized revenues of businesses acquired in 2020 , 2019 and 2018 totaled approximately $ 251.4 million , $ 468.2 million and $ 339.8 million , respectively .
```    
 Suspicious Activity Report : the pretax impact of the risk management segment adjustments totals $ 8.5 million , with a corresponding adjustment to the provision for income taxes of $ 2.1 million relating to these items . there is no pretax impact of the corporate segment adjustments , but there is an adjustment to the provision for income taxes of $ 1.1 million . for the corporate segment , the clean energy related adjustments are described on page 47. for 2019 , the pretax impact of the brokerage segment adjustments totals $ 6.9 million , with no corresponding adjustment to the provision for income taxes relating to these items . the pretax impact of the risk management segment adjustments totals $ 5.6 million , with a corresponding adjustment to the provision for income taxes of $ 1.5 million relating to these items . the pretax impact of the corporate segment adjustments totals $ 17.9 million , with an adjustment to the benefit for income taxes of $ 3.9 million . for the corporate segment , the clean energy related adjustments are described on page 47 . 29 reconciliation of non-gaap measures - pre-tax earnings and diluted net earnings per share ( in millions except share and per share data ) earnings ( loss ) before income taxes provision ( benefit ) for income taxes net earnings ( loss ) net earnings ( loss ) attributable to noncontrolling interests net earnings ( loss ) attributable to controlling interests diluted net earnings ( loss ) per share year ended dec 31 , 2020 brokerage , as reported $ 1,142.3 $ 276.3 $ 866.0 $ 4.9 $ 861.1 $ 4.42 net losses on divestitures 5.8 1.1 4.7 — 4.7 0.02 acquisition integration 25.1 5.8 19.3 — 19.3 0.10 workforce and lease termination 43.9 9.9 34.0 — 34.0 0.17 acquisition related adjustments 51.0 11.3 39.7 — 39.7 0.20 brokerage , as adjusted $ 1,268.1 $ 304.4 $ 963.7 $ 4.9 $ 958.8 $ 4.91 risk management , as reported $ 89.4 $ 22.5 $ 66.9 $ — $ 66.9 $ 0.34 workforce and lease termination 7.9 1.9 6.0 — 6.0 0.04 acquisition related adjustments 0.6 0.2 0.4 — 0.4 — risk management , as adjusted $ 97.9 $ 24.6 $ 73.3 $ - $ 73.3 $ 0.38 corporate , as reported $ ( 360.8 ) $ ( 286.0 ) $ ( 74.8 ) $ 34.4 $ ( 109.2 ) $ ( 0.56 ) income tax related impact — 1.1 ( 1.1 ) — ( 1.1 ) ( 0.01 ) corporate , as adjusted $ ( 360.8 ) $ ( 284.9 ) $ ( 75.9 ) $ 34.4 $ ( 110.3 ) $ ( 0.57 ) year ended dec 31 , 2019 brokerage , as reported $ 946.5 $ 229.2 $ 717.3 $ 17.2 $ 700.1 $ 3.68 net gains on divestitures ( 62.3 ) ( 14.8 ) ( 47.5 ) — ( 47.5 ) ( 0.25 ) acquisition integration 20.4 4.3 16.1 — 16.1 0.08 workforce and lease termination 44.8 9.7 35.1 — 35.1 0.19 acquisition related adjustments 7.5 1.7 5.8 — 5.8 0.03 levelized foreign currency translation ( 3.5 ) ( 0.9 ) ( 2.6 ) — ( 2.6 ) ( 0.01 ) brokerage , as adjusted $ 953.4 $ 229.2 $ 724.2 $ 17.2 $ 707.0 $ 3.72 risk management , as reported $ 88.4 $ 22.2 $ 66.2 $ — $ 66.2 $ 0.35 workforce and lease termination 7.9 2.7 5.2 — 5.2 0.03 acquisition related adjustments ( 2.4 ) ( 1.4 ) ( 1.0 ) — ( 1.0 ) ( 0.01 ) levelized foreign currency translation 0.1 0.2 ( 0.1 ) — ( 0.1 ) — risk management , as adjusted $ 94.0 $ 23.7 $ 70.3 $ - $ 70.3 $ 0.37 corporate , as reported $ ( 408.8 ) $ ( 341.1 ) $ ( 67.7 ) $ 29.8 $ ( 97.5 ) $ ( 0.51 ) clean energy related adjustments 14.9 3.2 11.7 2.5 9.2 0.05 workforce 3.0 0.7 2.3 — 2.3 0.01 corporate , as adjusted $ ( 390.9 ) $ ( 337.2 ) $ ( 53.7 ) $ 32.3 $ ( 86.0 ) $ ( 0.45 ) covid-19 impact in our property/casualty brokerage operations , during fourth quarter 2020 , ( a ) our customer retention remained at pre‑pandemic levels , ( b ) new business generation was above pre-pandemic levels , offset somewhat by non-recurring business that was below pre‑pandemic levels , ( c ) renewal exposure units ( i.e . , insured values , payrolls , employees , miles driven , etc . ) declined ; however , premium rates across most geographies and lines of coverage have continued to increase , effectively mitigating exposure unit declines , and ( d ) net positive mid-term policy modifications were slightly higher than fourth quarter 2019. thus far in the first quarter of 2021 , property/casualty customer exposure unit renewals showed improvement compared to lows seen in april and may 2020 , as our customers ' businesses continue to recover and economic activity increases . full policy cancellations have remained similar to pre-pandemic levels , and we continue to see property/casualty premium rates move higher overall which may partially , or fully , offset future declines in exposure units , if any . 30 in our employee benefits brokerage operations , during the fourth quarter of 2020 we saw a decrease in new consulting and special project work , while covered lives on renewal business were similar to the third quarter of 2020. our january 1 , 2021 health and welfare renewals have shown covered lives being consistent with levels seen in the fourth quarter of 2020 , although still not at pre-pandemic levels . consulting engagements and special project work improved slightly from fourth quarter levels , but are still below pre‑pandemic levels . story_separator_special_tag we then discount these payments to present value using a risk-adjusted rate that takes into consideration market-based rates of return that reflect the ability of the acquired entity to achieve the targets . changes in financial projections , market participant assumptions for revenue growth and or profitability , or the risk-adjusted discount rate , would result in a change in the fair value of recorded earnout obligations . see note 3 to our 2020 consolidated financial s tatements for additional discussion on our 2020 business combinations . business combinations and dispositions see note 3 to our 2020 consolidated financial statements for a discussion of our 2020 business combinations . we did not have any material dispositions in 2018. on january 8 , 2019 , we sold a travel insurance brokerage operation that was initially purchased in 2014. in first quarter 2019 , we recognized a one-time , net gain of $ 0.17 of diluted net earnings per share as a result of the sale . results of operations information regarding non-gaap measures and other in the discussion and analysis of our results of operations that follows , in addition to reporting financial results in accordance with gaap , we provide information regarding ebitdac , ebitdac margin , adjusted ebitdac , adjusted ebitdac margin , diluted net earnings per share , as adjusted ( adjusted eps ) , adjusted revenues , adjusted compensation and operating expenses , adjusted compensation expense ratio , adjusted operating expense ratio and organic revenue . these measures are not in accordance with , or an alternative to , the gaap information provided in this report . we believe that these presentations provide useful information to management , analysts and investors regarding financial and business trends relating to our results of operations and financial condition because they provide investors with measures that our chief operating decision maker uses when reviewing the company 's performance , and for the other reasons described below . our industry peers may provide similar supplemental non-gaap information with respect to one or more of these measures , although they may not use the same or comparable terminology and may not make identical adjustments . the non-gaap information we provide should be used in addition to , but not as a substitute for , the gaap information provided . we make determinations regarding certain elements of executive officer incentive compensation , performance share awards and annual cash incentive awards , partly on the basis of measures related to adjusted ebitdac . adjusted non-gaap presentation - we believe that the adjusted non-gaap presentation of our 2020 and 2019 information , presented on the following pages , provides stockholders and other interested persons with useful information regarding certain financial metrics that may assist such persons in analyzing our operating results as they develop a future earnings outlook for us . the after-tax amounts related to the adjustments were computed using the normalized effective tax rate for each respective period . adjusted measures - we define these measures as revenues ( for the brokerage segment ) , revenues before reimbursements ( for the risk management segment ) , net earnings , compensation expense and operating expense , respectively , each adjusted to exclude the following , as applicable : o net losses or gains on divestitures , which are primarily net losses or proceeds received related to sales of books of business and other divestiture transactions , such as the disposal of a business through sale or closure . o costs related to divestitures , which include legal and other costs related to certain operations that are being exited by us . o acquisition integration costs , which include costs related to certain large acquisitions , outside the scope of our usual tuck-in strategy , not expected to occur on an ongoing basis in the future once we fully assimilate the applicable acquisition . these costs are typically associated with redundant workforce , extra lease space , duplicate services and external costs incurred to assimilate the acquisition with our it related systems . o workforce related charges , which primarily include severance costs ( either accrued or paid ) related to employee terminations and other costs associated with redundant workforce . o lease termination related charges , which primarily include costs related to terminations of real estate leases and abandonment of leased space . 34 o a cquisition related adjustments , which include change in estimated acquisition earnout payables adjustments , impairment charges and acquisition related compensation charges . prior to first quarter 2019 , this adjustment also reflected impacts of acquisition valuation true-ups . o the impact of foreign currency translation , as applicable . the amounts excluded with respect to foreign currency translation are calculated by applying current year foreign exchange rates to the same period in the prior year . o effective income tax rate impact , which represents the impact in third quarter 2020 of one-time taxes associated with the realignment of our operations to continue to conduct certain business in the eu after brexit and the change in the u.k. effective income tax rate from 17.5 % to 19 % . in addition , it also includes the impact in third quarter 2019 related to prior quarters in 2019 for the decrease in the u.s. effective income tax rate used to compute the provision for income taxes in fourth quarter 2019. adjusted ratios - adjusted compensation expense and adjusted operating expense , respectively , each divided by adjusted revenues . non-gaap earnings measures we believe that the presentation of ebitdac , ebitdac margin , adjusted ebitdac , adjusted ebitdac margin and adjusted eps for the brokerage and risk management segment , each as defined below , provides a meaningful representation of our operating performance . adjusted eps is a performance measure and should not be used as a measure of our liquidity . we also consider ebitdac and ebitdac margin as ways to measure financial performance on an ongoing basis .

