the increase in net revenues was primarily related to the acquisition , which was partially offset by declines in sales of headset products . as a result of purchase accounting , a total of $ 34.0 million of deferred revenue that otherwise would have been recognized in fiscal year 2020 was excluded from annual net revenues of approximately $ 1.7 billion . the table below summarizes net revenues for the fiscal years ended march 28 , 2020 , and march 30 , 2019 by operating segment and product categories : replace_table_token_3_th 1 voice and video product net revenues presented net of fair value adjustments to deferred revenue of $ 1.9 million and $ 7.9 million for the fiscal year ended march 28 , 2020 , and march 30 , 2019 , respectively . 2 services net revenues presented net of fair value adjustments to deferred revenue of $ 32.1 million and $ 76.9 million for the fiscal year ended march 28 , 2020 and march 30 , 2019 , respectively . 44 operating loss ( in millions ) operating loss increased from the prior year to $ ( 804.1 ) million or ( 47.4 ) % of net revenues , driven primarily by a non-cash impairment charge of $ 179.6 million related to our intangible assets and property , plant , and equipment in the voice asset group , as well as a non-cash goodwill impairment charge of $ 483.7 million to its voice and video reporting units as a result of an overall decline in the company 's earnings and a sustained decrease in its share price . the impairment assessment was further complicated by the impact of covid-19 . our strategic initiatives are primarily focused on driving revenue growth through our end-to-end portfolio of audio and video endpoints , including headsets , desktop phones , conference room phones , and video collaboration solutions . the acquisition of polycom has positioned us as a global leader in communications and collaboration endpoints , has allowed us to target the faster-growing market categories , such as huddle rooms and work-from-home products , and is allowing us to capture opportunities through data analytics and insight services across a broad range of communications endpoints . our ability to provide comprehensive solutions to communicate challenges in the marketplace distinguishes us from our competitors and better positions us with our channel partners , customers and strategic alliance partners , which we believe will drive profitable revenue growth . within the enterprise market , we anticipate the key driver of growth over the next few years will be the continued adoption of uc & c solutions . we believe enterprises are increasing their adoption of uc & c systems to reduce costs , improve collaboration , and migrate to more capable and flexible technology . in addition , with increased demand for tele-services , mobile connections , and remote work styles , we believe that our uc & c portfolio will continue to offer the solutions necessary to fulfill these evolving needs . we expect that the growth of uc & c solutions will increase overall product adoption in enterprise and work-from-anywhere environments . in addition to enabling us to provide comprehensive solutions to drive growth over the long-term , the acquisition also is allowing us to reevaluate our business , focus resources and efforts on our enterprise strategic initiatives , and to continue to drive operational efficiencies . one of the outcomes of this process led to our announcement in the first quarter of fiscal year 2020 that we had started considering strategic alternatives for our consumer product portfolio . as a result , in the third quarter of fiscal year 2020 , this optimization work resulted in charges of $ 10.4 million related to inventory reserves and supplier liabilities for excess and obsolete inventory . in addition , we recognized $ 5.4 million of restructuring and other charges related to our consumer product portfolio optimization efforts . in the fourth quarter of fiscal year 2020 , we completed the sale of our gaming product portfolio and recognized an immaterial gain in operating expense . additionally , our consolidation efforts have led to material integration-related cost and expense savings . the majority of these savings are being realized in our operations group where efficiencies in our manufacturing operations and supply chain have helped to reduce our time to market . simultaneously , we have started to announce and release a number of new and refreshed product offerings in support of our end-to-end strategic initiatives . we remain cautious about the macroeconomic environment , based on uncertainty around trade and fiscal policy in the u.s. and internationally and broader economic uncertainty in many parts of europe and asia pacific , which makes it difficult for us to gauge the economic impacts on our future business . additionally , as a result of the covid-19 global pandemic , we experienced 45 supply chain disruptions , including our ability to manufacture products in our tijuana , mexico facility for a short time . we continue to experience difficulty sourcing component parts from our contract manufacturers and we are working with our supply chain and dual source partners to take the necessary steps to mitigate disruption of supply , however there can be no assurance that the ongoing disruptions due to covid-19 will be resolved in the near term . we furthermore intend to continue monitoring our expenditures , including opportunities to streamline our workforce , tools and processes , and continue to prioritize expenditures that further our strategic long-term growth opportunities , and go to market initiatives under a unified poly brand . results of operations we group our operations into two reportable segments : products and services . our products segment consists of headsets , voice , and video product categories and our services segment consists of support , professional , managed and cloud services and solutions . story_separator_special_tag as of march 28 , 2020 , there remained a total of 1,369,014 shares authorized for repurchase under the share repurchase program approved by the board . refer to note 13 , common stock repurchases , of the accompanying notes to consolidated financial statements for more information regarding our share repurchase programs . we had no retirements of treasury stock in fiscal years 2020 , 2019 , and 2018 . during the year ended march 31 , 2016 , we obtained $ 488.4 million from debt financing , net of issuance costs . the debt matures on may 31 , 2023 and bears interest at a rate of 5.50 % per annum , payable semi-annually on may 15 and november 15 of each year . refer to note 10 , debt , of the accompanying notes to consolidated financial statements . we may at any time and from time to time seek to retire or purchase our outstanding debt through cash purchases and or exchanges for equity or debt , in open-market purchases , privately negotiated transactions or otherwise . such repurchases or exchanges , if any , will be upon such terms and at such prices as we may determine , and will depend on prevailing market conditions , our liquidity requirements , contractual restrictions and other factors . in addition , our liquidity , capital resources , and results of operations in any period could be affected by repurchases of our common stock , the payment of cash dividends , the exercise of outstanding stock options , restricted stock grants under stock plans , and the issuance of common stock under our employee stock purchase plan ( `` espp `` ) . the acquisition of polycom affected our liquidity and leverage ratios and we are reducing our debt leverage ratios by prioritizing the repayment of the debt obtained to finance such acquisition . we receive cash from the exercise of outstanding stock options under our stock plan and the issuance of shares under our espp . however , the resulting increase in the number of outstanding shares from these equity grants and issuances could affect our earnings per share . we can not predict the timing or amount of proceeds from the sale or exercise of these securities or whether they will be exercised , forfeited , canceled , or will expire . 54 on april 15 , 2020 , we announced that our board of directors authorized the suspension of the quarterly dividend in order to further preserve financial flexibility . the suspension of the quarterly cash dividend will result in approximately $ 25 million of annualized cash savings , which we expect to utilize for deleveraging and strengthening the balance sheet . we believe that our current cash and cash equivalents , short-term investments , cash provided by operations , and availability of additional funds under the credit agreement , as amended from time to time , will be sufficient to fund our operations , however , any projections of future financial needs and sources of working capital are subject to uncertainty , particularly in light of the uncertainty resulting from the impact of covid-19 on our financial results . readers are cautioned to review the risks , uncertainties , and assumptions set forth in this annual report on form 10-k , including the sections entitled “ certain forward-looking information ” and “ risk factors ” for factors that could affect our estimates for future financial needs and sources of working capital . off balance sheet arrangements and contractual obligations we have not entered into any transactions with unconsolidated entities whereby we have financial guarantees , subordinated retained interests , derivative instruments , or other contingent arrangements that expose us to material continuing risks , contingent liabilities , or any other obligation under a variable interest in an unconsolidated entity that provides us with financing and liquidity support , market risk , or credit risk support . a substantial portion of the raw materials , components , and subassemblies used in our products are provided by our suppliers on a consignment basis . these consigned inventories are not recorded on our consolidated balance sheet until we take title to the raw materials , components , and subassemblies , which occurs when they are consumed in the production process . prior to consumption in the production process , our suppliers bear the risk of loss and retain title to the consigned inventory . the terms of the agreements allow us to return parts in excess of maximum order quantities to the suppliers at the supplier 's expense . returns for other reasons are negotiated with the suppliers on a case-by-case basis and to date have been immaterial . if our suppliers were to discontinue financing consigned inventory , it would require us to make cash outlays and we could incur expenses which , if material , could negatively affect our business and financial results . as of march 28 , 2020 , and march 30 , 2019 , we had off-balance sheet consigned inventories of $ 21.7 million and $ 47.1 million , respectively . unconditional purchase obligations we use several contract manufacturers to manufacture raw materials , components , and subassemblies for our products . we provide these contract manufacturers with demand information that typically covers periods up to 13 weeks , and they use this information to acquire components and build products . we also obtain individual components for our products from a wide variety of individual suppliers . consistent with industry practice , we acquire components through a combination of purchase orders , supplier contracts , and open orders based on projected demand information . as of march 28 , 2020 , we had outstanding off-balance sheet third-party manufacturing , component purchase , and other general and administrative commitments of $ 344.5 million , including off-balance sheet consigned inventories of $ 21.7 million . the following table summarizes our future contractual obligations as of

liquidity and capital resources our primary sources of liquidity as of march 28 , 2020 , consisted of cash , cash equivalents , and short-term investments , cash we expect to generate from operations , and a $ 100 million revolving credit facility . as of march 28 , 2020 , we had working capital of $ 209.2 million , including $ 225.7 million of cash , cash equivalents , and short-term investments , compared to working capital of $ 252.9 million , including $ 215.8 million of cash , cash equivalents , and short-term investments at march 30 , 2019 . the decrease in working capital at march 28 , 2020 compared to march 30 , 2019 resulted primarily from the decline in our cash provided by operations driven by declining revenue and continued integration , restructuring activities , and interest payments on our long-term debt . additionally , our inventories declined compared to the prior year due in part to the increased demand in the headset product category and delays in receipts from our suppliers as a result of the covid-19 pandemic . these decreases were partially offset by working capital increases resulting from a net decrease in accounts payable and lower accrued liabilities related to incentive compensation . our cash and cash equivalents as of march 28 , 2020 consist of bank deposits with third party financial institutions . we monitor bank balances in our operating accounts and adjust the balances as appropriate . cash balances are held throughout the world , including substantial amounts held outside of the u.s. as of march 28 , 2020 , of our $ 225.7 million of cash , cash equivalents , and short-term investments , $ 131.1 million was held domestically while $ 94.7 million was held by foreign subsidiaries , and approximately 81 % was based in usd-denominated instruments . as of march 28 , 2020 , our remaining investments were composed of mutual 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 as of march 28 , 2020 , consisted of cash , cash equivalents , and short-term investments , cash we expect to generate from operations , and a $ 100 million revolving credit facility . as of march 28 , 2020 , we had working capital of $ 209.2 million , including $ 225.7 million of cash , cash equivalents , and short-term investments , compared to working capital of $ 252.9 million , including $ 215.8 million of cash , cash equivalents , and short-term investments at march 30 , 2019 . the decrease in working capital at march 28 , 2020 compared to march 30 , 2019 resulted primarily from the decline in our cash provided by operations driven by declining revenue and continued integration , restructuring activities , and interest payments on our long-term debt . additionally , our inventories declined compared to the prior year due in part to the increased demand in the headset product category and delays in receipts from our suppliers as a result of the covid-19 pandemic . these decreases were partially offset by working capital increases resulting from a net decrease in accounts payable and lower accrued liabilities related to incentive compensation . our cash and cash equivalents as of march 28 , 2020 consist of bank deposits with third party financial institutions . we monitor bank balances in our operating accounts and adjust the balances as appropriate . cash balances are held throughout the world , including substantial amounts held outside of the u.s. as of march 28 , 2020 , of our $ 225.7 million of cash , cash equivalents , and short-term investments , $ 131.1 million was held domestically while $ 94.7 million was held by foreign subsidiaries , and approximately 81 % was based in usd-denominated instruments . as of march 28 , 2020 , our remaining investments were composed of mutual funds .
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 Suspicious Activity Report : the increase in net revenues was primarily related to the acquisition , which was partially offset by declines in sales of headset products . as a result of purchase accounting , a total of $ 34.0 million of deferred revenue that otherwise would have been recognized in fiscal year 2020 was excluded from annual net revenues of approximately $ 1.7 billion . the table below summarizes net revenues for the fiscal years ended march 28 , 2020 , and march 30 , 2019 by operating segment and product categories : replace_table_token_3_th 1 voice and video product net revenues presented net of fair value adjustments to deferred revenue of $ 1.9 million and $ 7.9 million for the fiscal year ended march 28 , 2020 , and march 30 , 2019 , respectively . 2 services net revenues presented net of fair value adjustments to deferred revenue of $ 32.1 million and $ 76.9 million for the fiscal year ended march 28 , 2020 and march 30 , 2019 , respectively . 44 operating loss ( in millions ) operating loss increased from the prior year to $ ( 804.1 ) million or ( 47.4 ) % of net revenues , driven primarily by a non-cash impairment charge of $ 179.6 million related to our intangible assets and property , plant , and equipment in the voice asset group , as well as a non-cash goodwill impairment charge of $ 483.7 million to its voice and video reporting units as a result of an overall decline in the company 's earnings and a sustained decrease in its share price . the impairment assessment was further complicated by the impact of covid-19 . our strategic initiatives are primarily focused on driving revenue growth through our end-to-end portfolio of audio and video endpoints , including headsets , desktop phones , conference room phones , and video collaboration solutions . the acquisition of polycom has positioned us as a global leader in communications and collaboration endpoints , has allowed us to target the faster-growing market categories , such as huddle rooms and work-from-home products , and is allowing us to capture opportunities through data analytics and insight services across a broad range of communications endpoints . our ability to provide comprehensive solutions to communicate challenges in the marketplace distinguishes us from our competitors and better positions us with our channel partners , customers and strategic alliance partners , which we believe will drive profitable revenue growth . within the enterprise market , we anticipate the key driver of growth over the next few years will be the continued adoption of uc & c solutions . we believe enterprises are increasing their adoption of uc & c systems to reduce costs , improve collaboration , and migrate to more capable and flexible technology . in addition , with increased demand for tele-services , mobile connections , and remote work styles , we believe that our uc & c portfolio will continue to offer the solutions necessary to fulfill these evolving needs . we expect that the growth of uc & c solutions will increase overall product adoption in enterprise and work-from-anywhere environments . in addition to enabling us to provide comprehensive solutions to drive growth over the long-term , the acquisition also is allowing us to reevaluate our business , focus resources and efforts on our enterprise strategic initiatives , and to continue to drive operational efficiencies . one of the outcomes of this process led to our announcement in the first quarter of fiscal year 2020 that we had started considering strategic alternatives for our consumer product portfolio . as a result , in the third quarter of fiscal year 2020 , this optimization work resulted in charges of $ 10.4 million related to inventory reserves and supplier liabilities for excess and obsolete inventory . in addition , we recognized $ 5.4 million of restructuring and other charges related to our consumer product portfolio optimization efforts . in the fourth quarter of fiscal year 2020 , we completed the sale of our gaming product portfolio and recognized an immaterial gain in operating expense . additionally , our consolidation efforts have led to material integration-related cost and expense savings . the majority of these savings are being realized in our operations group where efficiencies in our manufacturing operations and supply chain have helped to reduce our time to market . simultaneously , we have started to announce and release a number of new and refreshed product offerings in support of our end-to-end strategic initiatives . we remain cautious about the macroeconomic environment , based on uncertainty around trade and fiscal policy in the u.s. and internationally and broader economic uncertainty in many parts of europe and asia pacific , which makes it difficult for us to gauge the economic impacts on our future business . additionally , as a result of the covid-19 global pandemic , we experienced 45 supply chain disruptions , including our ability to manufacture products in our tijuana , mexico facility for a short time . we continue to experience difficulty sourcing component parts from our contract manufacturers and we are working with our supply chain and dual source partners to take the necessary steps to mitigate disruption of supply , however there can be no assurance that the ongoing disruptions due to covid-19 will be resolved in the near term . we furthermore intend to continue monitoring our expenditures , including opportunities to streamline our workforce , tools and processes , and continue to prioritize expenditures that further our strategic long-term growth opportunities , and go to market initiatives under a unified poly brand . results of operations we group our operations into two reportable segments : products and services . our products segment consists of headsets , voice , and video product categories and our services segment consists of support , professional , managed and cloud services and solutions . story_separator_special_tag as of march 28 , 2020 , there remained a total of 1,369,014 shares authorized for repurchase under the share repurchase program approved by the board . refer to note 13 , common stock repurchases , of the accompanying notes to consolidated financial statements for more information regarding our share repurchase programs . we had no retirements of treasury stock in fiscal years 2020 , 2019 , and 2018 . during the year ended march 31 , 2016 , we obtained $ 488.4 million from debt financing , net of issuance costs . the debt matures on may 31 , 2023 and bears interest at a rate of 5.50 % per annum , payable semi-annually on may 15 and november 15 of each year . refer to note 10 , debt , of the accompanying notes to consolidated financial statements . we may at any time and from time to time seek to retire or purchase our outstanding debt through cash purchases and or exchanges for equity or debt , in open-market purchases , privately negotiated transactions or otherwise . such repurchases or exchanges , if any , will be upon such terms and at such prices as we may determine , and will depend on prevailing market conditions , our liquidity requirements , contractual restrictions and other factors . in addition , our liquidity , capital resources , and results of operations in any period could be affected by repurchases of our common stock , the payment of cash dividends , the exercise of outstanding stock options , restricted stock grants under stock plans , and the issuance of common stock under our employee stock purchase plan ( `` espp `` ) . the acquisition of polycom affected our liquidity and leverage ratios and we are reducing our debt leverage ratios by prioritizing the repayment of the debt obtained to finance such acquisition . we receive cash from the exercise of outstanding stock options under our stock plan and the issuance of shares under our espp . however , the resulting increase in the number of outstanding shares from these equity grants and issuances could affect our earnings per share . we can not predict the timing or amount of proceeds from the sale or exercise of these securities or whether they will be exercised , forfeited , canceled , or will expire . 54 on april 15 , 2020 , we announced that our board of directors authorized the suspension of the quarterly dividend in order to further preserve financial flexibility . the suspension of the quarterly cash dividend will result in approximately $ 25 million of annualized cash savings , which we expect to utilize for deleveraging and strengthening the balance sheet . we believe that our current cash and cash equivalents , short-term investments , cash provided by operations , and availability of additional funds under the credit agreement , as amended from time to time , will be sufficient to fund our operations , however , any projections of future financial needs and sources of working capital are subject to uncertainty , particularly in light of the uncertainty resulting from the impact of covid-19 on our financial results . readers are cautioned to review the risks , uncertainties , and assumptions set forth in this annual report on form 10-k , including the sections entitled “ certain forward-looking information ” and “ risk factors ” for factors that could affect our estimates for future financial needs and sources of working capital . off balance sheet arrangements and contractual obligations we have not entered into any transactions with unconsolidated entities whereby we have financial guarantees , subordinated retained interests , derivative instruments , or other contingent arrangements that expose us to material continuing risks , contingent liabilities , or any other obligation under a variable interest in an unconsolidated entity that provides us with financing and liquidity support , market risk , or credit risk support . a substantial portion of the raw materials , components , and subassemblies used in our products are provided by our suppliers on a consignment basis . these consigned inventories are not recorded on our consolidated balance sheet until we take title to the raw materials , components , and subassemblies , which occurs when they are consumed in the production process . prior to consumption in the production process , our suppliers bear the risk of loss and retain title to the consigned inventory . the terms of the agreements allow us to return parts in excess of maximum order quantities to the suppliers at the supplier 's expense . returns for other reasons are negotiated with the suppliers on a case-by-case basis and to date have been immaterial . if our suppliers were to discontinue financing consigned inventory , it would require us to make cash outlays and we could incur expenses which , if material , could negatively affect our business and financial results . as of march 28 , 2020 , and march 30 , 2019 , we had off-balance sheet consigned inventories of $ 21.7 million and $ 47.1 million , respectively . unconditional purchase obligations we use several contract manufacturers to manufacture raw materials , components , and subassemblies for our products . we provide these contract manufacturers with demand information that typically covers periods up to 13 weeks , and they use this information to acquire components and build products . we also obtain individual components for our products from a wide variety of individual suppliers . consistent with industry practice , we acquire components through a combination of purchase orders , supplier contracts , and open orders based on projected demand information . as of march 28 , 2020 , we had outstanding off-balance sheet third-party manufacturing , component purchase , and other general and administrative commitments of $ 344.5 million , including off-balance sheet consigned inventories of $ 21.7 million . the following table summarizes our future contractual obligations as of

