32 table of contents critical accounting policies and estimates the preparation of financial statements and related disclosures in conformity with u.s. generally accepted accounting principles ( “ gaap ” ) requires us to make judgments , assumptions , and estimates that affect the reported amounts of assets , liabilities , revenue , costs of sales , operating expenses , and related disclosures . we consider the accounting polices described below to be our critical accounting policies . these critical accounting policies are impacted significantly by judgments , assumptions , and estimates used in the preparation of the consolidated financial statements , and actual results could differ materially from the amounts reported based on these policies . our accounting policies are more fully described in note 1 of our accompanying notes to consolidated financial statements included in part ii , item 8 , “ financial statements and supplementary data ” of this annual report on form 10-k. revenue recognition revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration that we expect to receive in exchange for those products or services . revenue is recognized net of allowance for returns and any taxes collected from customers . we enter into contracts that can include various combinations of products and services , which are generally capable of being distinct and accounted for as separate performance obligations ; however , determining whether products or services are considered distinct performance obligations that should be accounted for separately versus together may sometimes require significant judgment . judgment is required to determine stand-alone selling price ( “ ssp ” ) for each distinct performance obligation . we use a range of amounts to estimate ssp when products and services are sold separately and determine whether there is a discount to be allocated based on the relative ssp of the various products and services . in instances where ssp is not directly observable , we determine ssp using information that may include market conditions and other observable inputs . income taxes we are a u.s. based multinational company operating in multiple u.s. and foreign jurisdictions . judgment is required in evaluating our uncertain tax positions and determining our provision for income taxes . we consider many factors when evaluating and estimating our tax positions and tax benefits , which may require periodic adjustments and may not accurately forecast actual tax audit outcomes . determining whether an uncertain tax position is effectively settled requires judgment . changes in recognition or measurement of our uncertain tax positions would result in the recognition of a tax benefit or an additional charge to the tax provision . income taxes are accounted for under the liability method , whereby deferred tax assets or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect for the year in which the differences are expected to affect taxable income . a valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if we believe it is more likely than not such assets will not be realized . we are subject to the periodic examination of our domestic and foreign tax returns by the irs , state , local , and foreign tax authorities who may challenge our tax positions . we regularly assess the likelihood of adverse outcomes from these examinations in determining the adequacy of our provision for income taxes . business combinations and valuation of goodwill and purchased intangible assets we allocate the fair value of purchase consideration to the assets acquired , liabilities assumed , and non-controlling interests in the acquiree based on their fair values at the acquisition date . the excess of the fair value of purchase consideration over the fair value of these assets acquired , liabilities assumed , and non-controlling interests in the acquiree is recorded as goodwill . when determining the fair values of assets acquired , liabilities assumed , and non-controlling interests in the acquiree , management makes significant estimates and assumptions , especially with respect to intangible assets . critical estimates in valuing intangible assets include , but are not limited to , expected future cash flows , which includes consideration of future growth rates and margins , customer attrition rates , future changes in technology and brand awareness , loyalty and position , and discount rates . identifiable intangible assets are comprised of distribution channels and distribution rights , patents , licenses , technology , acquired backlog , trademarks , and in-process research and development . we evaluate goodwill on an annual basis or more frequently if indicators of potential impairment exist . we utilize either a qualitative assessment or a quantitative test to assess the likelihood of an impairment . in performing the qualitative assessment , we consider macroeconomic conditions , industry and market considerations , overall financial performance , and other relevant events and factors that may impact the reporting units . when we perform a quantitative test , the estimation of the fair value of a reporting unit involves the use of certain estimates and assumptions including expected future operating performance using risk-adjusted discount rates . 33 table of contents we amortize identifiable intangible assets over their estimated useful lives on a straight-line basis . changes in circumstances such as technological advances , changes to business models , or changes in the capital strategy could result in a revised useful life . if the useful life of an asset is revised , the net book value of the estimated residual value is amortized over its revised remaining useful life . intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable based on their future cash flows . the estimated future cash flows are primarily based upon assumptions about expected future operating performance . story_separator_special_tag 44 table of contents non-gaap net income this measure provides a supplemental view of net income trends , which are driven by non-gaap income before taxes and our non-gaap tax rate . non-gaap net income excludes the effects of purchase accounting adjustments to certain acquired deferred revenue and acquired capitalized commissions , amortization of purchased intangible assets , amortization of acquisition related inventory step-up , acquisition/divestiture items , stock-based compensation , restructuring charges , executive transition costs , covid-19 expenses , debt issuance costs , and non-gaap tax adjustments . we believe our investors benefit from understanding these adjustments and from an alternative view of our net income performance as compared to prior periods and trends . non-gaap diluted net income per share we believe our investors benefit by understanding our non-gaap operating performance as reflected in a per share calculation as a way of measuring non-gaap operating performance by ownership in the company . non-gaap diluted net income per share excludes the effects of purchase accounting adjustments to certain acquired deferred revenue and acquired capitalized commissions , amortization of purchased intangible assets , amortization of acquisition related inventory step-up , acquisition/divestiture items , stock-based compensation , restructuring charges , executive transition costs , covid-19 expenses , debt issuance costs , and non-gaap tax adjustments . we believe that these adjustments offer investors a useful view of our diluted net income per share as compared to prior periods and trends . adjusted ebitda adjusted ebitda is a performance measure that we believe offers a useful view of the overall operations of our business . we believe it is useful because it facilitates company-to-company operating performance comparisons by removing potential differences caused by variations unrelated to operating performance , such as capital structures ( interest expense ) , income taxes , depreciation and amortization expenses . we define adjusted ebitda as non-gaap operating income plus depreciation expense and income from equity method investments , net . other companies define adjusted ebitda differently and so our measure may not be directly comparable to similarly titled measures . our investors should consider the limitations of using adjusted ebitda , including the fact that this measure does not provide a complete measure of our operating performance . adjusted ebitda is not intended to purport to be an alternative to net income or operating income as a measure of operating performance or to cash flow from operating activities as a measure of liquidity . in particular , adjusted ebitda is not intended to be a measure of cash flow available for our discretionary expenditures , as this measure does not consider certain cash requirements , such as restructuring charges , executive transition costs , acquisition and divestiture items , interest payments , tax payments and other debt service requirements . these non-gaap measures can be used to evaluate our historical and prospective financial performance , as well as our performance relative to competitors . we believe some of our investors track our `` core operating performance `` as a means of evaluating our performance in the ordinary , ongoing , and customary course of our operations . core operating performance excludes items that are non-cash , not expected to recur , or not reflective of ongoing financial results . management also believes that looking at our core operating performance provides a supplemental way to provide consistency in period-to-period comparisons . accordingly , management excludes from non-gaap the effects of purchase accounting adjustments to certain acquired deferred revenue and acquired capitalized commissions , amortization of purchased intangible assets , amortization of acquisition related inventory step-up , acquisition/divestiture items , stock-based compensation , deferred compensation , restructuring charges , executive transition costs , covid-19 expenses , debt issuance costs , and non-gaap tax adjustments . ( a ) acquired deferred revenue adjustment . purchase accounting generally requires us to write-down acquired deferred revenue to fair value . our gaap revenue includes the fair value impact from purchase accounting for post-contract support and subscriptions contracts assumed in connection with our acquisitions . the non-gaap adjustment to our revenue is intended to reflect the full amount of such revenue . we believe this adjustment is useful to investors as a measure of the ongoing performance of our business and facilitates analysis of revenue growth and business trends . ( b ) amortization of acquired capitalized commissions . purchase accounting generally requires us to eliminate capitalized sales commissions balances as of the acquisition date . our gaap sales and marketing expenses generally do not reflect the amortization of these capitalized sales commissions balances . the non-gaap adjustment to increase our sales and marketing expenses is intended to reflect the full amount of amortization related to such balances as though the acquired companies operated independently in the periods presented . we believe this adjustment to sales and marketing expenses is useful to investors as a measure of the ongoing performance of our business . ( c ) amortization of purchased intangible assets . included in our gaap presentation of cost of sales and operating expenses is amortization of purchased intangible assets . we believe that by excluding the amortization of purchased intangible assets , which primarily represents technology and or customer relationships already developed , this provides an 45 table of contents alternative way for investors to compare our operations pre-acquisition to those post-acquisition and to those of our competitors that have pursued internal growth strategies . however , we note that companies that grow internally will incur costs to develop intangible assets that will be expensed in the period incurred , which may make a direct comparison more difficult . ( d ) amortization of acquisition-related inventory step-up . the purchase accounting entries associated with our business acquisitions require us to record inventory at its fair value , which is sometimes greater than the previous book value of the inventory . included in our gaap presentation , the increase in inventory value is amortized to cost of sales over the

liquidity and capital resources replace_table_token_8_th cash and cash equivalents our ability to continue to generate cash from operations will depend in large part on profitability , the rate of collections of accounts receivable , our inventory turns , and our ability to manage other areas of working capital . our cash and cash equivalents are maintained with several financial institutions . deposits held with banks may exceed the amount of insurance provided on such deposits . generally , these deposits may be redeemed upon demand and are maintained with financial institutions considered to be of reputable credit and to present little credit risk . we believe that our cash and cash equivalents , and borrowings , as described below under the heading “ debt ” , along with cash provided by operations , will be sufficient to meet our anticipated operating cash needs , debt service , stock repurchases under our 2017 stock repurchase program , and planned capital expenditures . operating activities cash provided by operating activities was $ 672.0 million for fiscal 2020 , compared to $ 585.0 million for fiscal 2019. the increase of $ 87.0 million was primarily driven by an increase in net income , net of non-cash items , and favorable working capital changes , including positive accounts receivable impact , due to improved sales linearity and higher accrued compensation , partially offset by deferred revenue and accrued liabilities changes . investing activities cash used in investing activities was $ 231.8 million for fiscal 2020 , compared to $ 275.3 million for fiscal 2019. the decrease of $ 43.5 million was primarily due to decreased spending for business acquisitions , and to a lessor extent , reduced spending on property and equipment .


 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 replace_table_token_8_th cash and cash equivalents our ability to continue to generate cash from operations will depend in large part on profitability , the rate of collections of accounts receivable , our inventory turns , and our ability to manage other areas of working capital . our cash and cash equivalents are maintained with several financial institutions . deposits held with banks may exceed the amount of insurance provided on such deposits . generally , these deposits may be redeemed upon demand and are maintained with financial institutions considered to be of reputable credit and to present little credit risk . we believe that our cash and cash equivalents , and borrowings , as described below under the heading “ debt ” , along with cash provided by operations , will be sufficient to meet our anticipated operating cash needs , debt service , stock repurchases under our 2017 stock repurchase program , and planned capital expenditures . operating activities cash provided by operating activities was $ 672.0 million for fiscal 2020 , compared to $ 585.0 million for fiscal 2019. the increase of $ 87.0 million was primarily driven by an increase in net income , net of non-cash items , and favorable working capital changes , including positive accounts receivable impact , due to improved sales linearity and higher accrued compensation , partially offset by deferred revenue and accrued liabilities changes . investing activities cash used in investing activities was $ 231.8 million for fiscal 2020 , compared to $ 275.3 million for fiscal 2019. the decrease of $ 43.5 million was primarily due to decreased spending for business acquisitions , and to a lessor extent , reduced spending on property and equipment .
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 Suspicious Activity Report : 32 table of contents critical accounting policies and estimates the preparation of financial statements and related disclosures in conformity with u.s. generally accepted accounting principles ( “ gaap ” ) requires us to make judgments , assumptions , and estimates that affect the reported amounts of assets , liabilities , revenue , costs of sales , operating expenses , and related disclosures . we consider the accounting polices described below to be our critical accounting policies . these critical accounting policies are impacted significantly by judgments , assumptions , and estimates used in the preparation of the consolidated financial statements , and actual results could differ materially from the amounts reported based on these policies . our accounting policies are more fully described in note 1 of our accompanying notes to consolidated financial statements included in part ii , item 8 , “ financial statements and supplementary data ” of this annual report on form 10-k. revenue recognition revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration that we expect to receive in exchange for those products or services . revenue is recognized net of allowance for returns and any taxes collected from customers . we enter into contracts that can include various combinations of products and services , which are generally capable of being distinct and accounted for as separate performance obligations ; however , determining whether products or services are considered distinct performance obligations that should be accounted for separately versus together may sometimes require significant judgment . judgment is required to determine stand-alone selling price ( “ ssp ” ) for each distinct performance obligation . we use a range of amounts to estimate ssp when products and services are sold separately and determine whether there is a discount to be allocated based on the relative ssp of the various products and services . in instances where ssp is not directly observable , we determine ssp using information that may include market conditions and other observable inputs . income taxes we are a u.s. based multinational company operating in multiple u.s. and foreign jurisdictions . judgment is required in evaluating our uncertain tax positions and determining our provision for income taxes . we consider many factors when evaluating and estimating our tax positions and tax benefits , which may require periodic adjustments and may not accurately forecast actual tax audit outcomes . determining whether an uncertain tax position is effectively settled requires judgment . changes in recognition or measurement of our uncertain tax positions would result in the recognition of a tax benefit or an additional charge to the tax provision . income taxes are accounted for under the liability method , whereby deferred tax assets or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect for the year in which the differences are expected to affect taxable income . a valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if we believe it is more likely than not such assets will not be realized . we are subject to the periodic examination of our domestic and foreign tax returns by the irs , state , local , and foreign tax authorities who may challenge our tax positions . we regularly assess the likelihood of adverse outcomes from these examinations in determining the adequacy of our provision for income taxes . business combinations and valuation of goodwill and purchased intangible assets we allocate the fair value of purchase consideration to the assets acquired , liabilities assumed , and non-controlling interests in the acquiree based on their fair values at the acquisition date . the excess of the fair value of purchase consideration over the fair value of these assets acquired , liabilities assumed , and non-controlling interests in the acquiree is recorded as goodwill . when determining the fair values of assets acquired , liabilities assumed , and non-controlling interests in the acquiree , management makes significant estimates and assumptions , especially with respect to intangible assets . critical estimates in valuing intangible assets include , but are not limited to , expected future cash flows , which includes consideration of future growth rates and margins , customer attrition rates , future changes in technology and brand awareness , loyalty and position , and discount rates . identifiable intangible assets are comprised of distribution channels and distribution rights , patents , licenses , technology , acquired backlog , trademarks , and in-process research and development . we evaluate goodwill on an annual basis or more frequently if indicators of potential impairment exist . we utilize either a qualitative assessment or a quantitative test to assess the likelihood of an impairment . in performing the qualitative assessment , we consider macroeconomic conditions , industry and market considerations , overall financial performance , and other relevant events and factors that may impact the reporting units . when we perform a quantitative test , the estimation of the fair value of a reporting unit involves the use of certain estimates and assumptions including expected future operating performance using risk-adjusted discount rates . 33 table of contents we amortize identifiable intangible assets over their estimated useful lives on a straight-line basis . changes in circumstances such as technological advances , changes to business models , or changes in the capital strategy could result in a revised useful life . if the useful life of an asset is revised , the net book value of the estimated residual value is amortized over its revised remaining useful life . intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable based on their future cash flows . the estimated future cash flows are primarily based upon assumptions about expected future operating performance . story_separator_special_tag 44 table of contents non-gaap net income this measure provides a supplemental view of net income trends , which are driven by non-gaap income before taxes and our non-gaap tax rate . non-gaap net income excludes the effects of purchase accounting adjustments to certain acquired deferred revenue and acquired capitalized commissions , amortization of purchased intangible assets , amortization of acquisition related inventory step-up , acquisition/divestiture items , stock-based compensation , restructuring charges , executive transition costs , covid-19 expenses , debt issuance costs , and non-gaap tax adjustments . we believe our investors benefit from understanding these adjustments and from an alternative view of our net income performance as compared to prior periods and trends . non-gaap diluted net income per share we believe our investors benefit by understanding our non-gaap operating performance as reflected in a per share calculation as a way of measuring non-gaap operating performance by ownership in the company . non-gaap diluted net income per share excludes the effects of purchase accounting adjustments to certain acquired deferred revenue and acquired capitalized commissions , amortization of purchased intangible assets , amortization of acquisition related inventory step-up , acquisition/divestiture items , stock-based compensation , restructuring charges , executive transition costs , covid-19 expenses , debt issuance costs , and non-gaap tax adjustments . we believe that these adjustments offer investors a useful view of our diluted net income per share as compared to prior periods and trends . adjusted ebitda adjusted ebitda is a performance measure that we believe offers a useful view of the overall operations of our business . we believe it is useful because it facilitates company-to-company operating performance comparisons by removing potential differences caused by variations unrelated to operating performance , such as capital structures ( interest expense ) , income taxes , depreciation and amortization expenses . we define adjusted ebitda as non-gaap operating income plus depreciation expense and income from equity method investments , net . other companies define adjusted ebitda differently and so our measure may not be directly comparable to similarly titled measures . our investors should consider the limitations of using adjusted ebitda , including the fact that this measure does not provide a complete measure of our operating performance . adjusted ebitda is not intended to purport to be an alternative to net income or operating income as a measure of operating performance or to cash flow from operating activities as a measure of liquidity . in particular , adjusted ebitda is not intended to be a measure of cash flow available for our discretionary expenditures , as this measure does not consider certain cash requirements , such as restructuring charges , executive transition costs , acquisition and divestiture items , interest payments , tax payments and other debt service requirements . these non-gaap measures can be used to evaluate our historical and prospective financial performance , as well as our performance relative to competitors . we believe some of our investors track our `` core operating performance `` as a means of evaluating our performance in the ordinary , ongoing , and customary course of our operations . core operating performance excludes items that are non-cash , not expected to recur , or not reflective of ongoing financial results . management also believes that looking at our core operating performance provides a supplemental way to provide consistency in period-to-period comparisons . accordingly , management excludes from non-gaap the effects of purchase accounting adjustments to certain acquired deferred revenue and acquired capitalized commissions , amortization of purchased intangible assets , amortization of acquisition related inventory step-up , acquisition/divestiture items , stock-based compensation , deferred compensation , restructuring charges , executive transition costs , covid-19 expenses , debt issuance costs , and non-gaap tax adjustments . ( a ) acquired deferred revenue adjustment . purchase accounting generally requires us to write-down acquired deferred revenue to fair value . our gaap revenue includes the fair value impact from purchase accounting for post-contract support and subscriptions contracts assumed in connection with our acquisitions . the non-gaap adjustment to our revenue is intended to reflect the full amount of such revenue . we believe this adjustment is useful to investors as a measure of the ongoing performance of our business and facilitates analysis of revenue growth and business trends . ( b ) amortization of acquired capitalized commissions . purchase accounting generally requires us to eliminate capitalized sales commissions balances as of the acquisition date . our gaap sales and marketing expenses generally do not reflect the amortization of these capitalized sales commissions balances . the non-gaap adjustment to increase our sales and marketing expenses is intended to reflect the full amount of amortization related to such balances as though the acquired companies operated independently in the periods presented . we believe this adjustment to sales and marketing expenses is useful to investors as a measure of the ongoing performance of our business . ( c ) amortization of purchased intangible assets . included in our gaap presentation of cost of sales and operating expenses is amortization of purchased intangible assets . we believe that by excluding the amortization of purchased intangible assets , which primarily represents technology and or customer relationships already developed , this provides an 45 table of contents alternative way for investors to compare our operations pre-acquisition to those post-acquisition and to those of our competitors that have pursued internal growth strategies . however , we note that companies that grow internally will incur costs to develop intangible assets that will be expensed in the period incurred , which may make a direct comparison more difficult . ( d ) amortization of acquisition-related inventory step-up . the purchase accounting entries associated with our business acquisitions require us to record inventory at its fair value , which is sometimes greater than the previous book value of the inventory . included in our gaap presentation , the increase in inventory value is amortized to cost of sales over the

