our belief that our existing level of inventory will allow us to maintain competitive lead times and provide strong delivery performance to our customers ; the effect that distributor and customer inventory holding patterns will have on us ; our belief that customers recognize our products and brand name and use distributors as an effective supply channel ; anticipating increased customer requirements to meet voluntary criteria related to the reduction or elimination of substances in our products ; our belief that our direct sales personnel combined with our distributors provide an effective means of reaching our customer base ; the accuracy of our estimates of the useful life and values of our property , assets and other liabilities ; our ability to increase the proprietary portion of our analog , interface , mixed signal and timing product lines and the effect of such an increase ; our belief that our processes afford us both cost-effective designs in existing and derivative products and greater functionality in new product designs ; the impact of any supply disruption we may experience ; our ability to effectively utilize our facilities at appropriate capacity levels and anticipated costs ; 35 that we adjust capacity utilization to respond to actual and anticipated business and industry-related conditions ; that manufacturing costs will be reduced by transition to advanced process technologies ; our ability to maintain manufacturing yields ; continuing our investments in new and enhanced products ; the cost effectiveness of using our own assembly and test operations ; our plans for operation of our fabrication facilities , including our plan to close our facility in santa clara , california ; the cost savings from re-purposing fab 5 for the manufacture of discrete and specialty products in addition to a lower volume of a diversified set of standard products and transferring the manufacture of certain higher volume products to other facilities ; our anticipated level of capital expenditures ; continuation and amount of quarterly cash dividends ; the sufficiency of our existing sources of liquidity to finance anticipated capital expenditures and otherwise meet our anticipated cash requirements , and the effects that our contractual obligations are expected to have on them ; the impact of seasonality on our business ; our belief that our it system compromise has not had a material adverse effect on our business or resulted in any material damage to us ; our expectation that we will continue to be the target of attacks on our data , attempts to breach our security and attempts to introduce malicious software into our it systems ; the accuracy of our estimates used in valuing employee equity awards ; that the resolution of legal actions will not have a material effect on our business , and the accuracy of our assessment of the probability of loss and range of potential loss ; the recoverability of our deferred tax assets ; the adequacy of our tax reserves to offset any potential tax liabilities , having the appropriate support for our income tax positions and the accuracy of our estimated tax rate ; our belief that the expiration of any tax holidays will not have a material impact on our financial statements or effective tax rate ; the impact of our intra-group asset transfers , and the geographical dispersion of our earnings and losses on our effective tax rate ; our belief that the estimates used in preparing our consolidated financial statements are reasonable ; our actions to vigorously and aggressively defend and protect our intellectual property on a worldwide basis ; our ability to obtain patents and intellectual property licenses and minimize the effects of litigation ; the level of risk we are exposed to for product liability claims or indemnification claims ; the effect of fluctuations in market interest rates on our income and or cash flows ; the effect of fluctuations in currency rates ; that we could increase our borrowings or seek additional equity or debt financing to maintain or expand our facilities , or to fund cash dividends , share repurchases , acquisitions or other corporate activities , and that the timing and amount of such financing requirements will depend on a number of factors ; our intention to satisfy the lesser of the principal amount or the conversion value of our debentures in cash ; our intention to invest substantially all of our foreign subsidiary earnings , as well as our capital in our foreign subsidiaries , indefinitely outside of the u.s. in those jurisdictions in which we would incur significant , additional costs upon repatriation of such amounts . changes to the taxation of undistributed foreign earnings could change our future intentions regarding reinvestment of such earnings ; our belief that the effect the new tax laws will have on low-taxed income of foreign subsidiaries will have the most significant , adverse impact ; and our ability to collect accounts receivable . our actual results could differ materially from the results anticipated in these forward-looking statements as a result of certain factors including those set forth in `` item 1a – risk factors , `` and elsewhere in this form 10-k . although we believe that the expectations reflected in our forward-looking statements are reasonable , we can not guarantee future results , levels of activity , performance or achievements . you should not place undue reliance on these forward-looking statements . we disclaim any obligation to update the information contained in any forward-looking statement . 36 introduction the following discussion should be read in conjunction with the consolidated financial statements and the related notes that appear elsewhere in this document , as well as with other sections of this annual report on form 10-k , including `` item 1 – business ; `` `` item 6 – selected financial data ; `` and `` item 8 – financial statements and supplementary data . story_separator_special_tag after the transaction price has been allocated , we recognize revenue when the performance obligation is satisfied . substantially all of the revenue generated from contracts with distributors is recognized at the time risk and title of the inventory transfers to the distributor . sales to our direct customers are generally governed by a purchase order and an order acknowledgment . sales to direct customers usually do not meet the definition of a contract , as defined by asc 606 , until shipment of the product occurs . generally , the transaction price associated with contracts with direct customers is set at the standalone selling price and is not variable . usually , there is only a single performance obligation in the contract , and therefore the entire transaction price is allocated to the single performance obligation . after the transaction price has been allocated , we recognize revenue when the performance obligation is satisfied . substantially all of the revenue generated from contracts with direct customers is recognized at the time risk and title of the inventory transfers to the customer . revenue generated from our licensees is governed by licensing agreements . our primary performance obligation related to these agreements is to provide the licensee the right to use the intellectual property . the final transaction price is determined by multiplying the usage of the license by the royalty , which is fixed in the licensing agreement . revenue is recognized as usage of the license occurs . business combinations all of our business combinations are accounted for at fair value under the acquisition method of accounting . under the acquisition method of accounting , ( i ) acquisition-related costs , except for those costs incurred to issue debt or equity securities , will be expensed in the period incurred ; ( ii ) non-controlling interests will be valued at fair value at the acquisition date ; ( iii ) in-process research and development will be recorded at fair value as an intangible asset at the acquisition date and amortized once the technology reaches technological feasibility ; ( iv ) restructuring costs associated with a business combination will be expensed subsequent to the acquisition date ; and ( v ) changes in deferred tax asset valuation allowances and income tax uncertainties after the acquisition date will be recognized through income tax expense . the measurement of the fair value of assets acquired and liabilities assumed requires significant judgment . the valuation of intangible assets , in particular , requires that we use valuation techniques such as the income approach . the income approach includes the use of a discounted cash flow model , which includes discounted cash flow scenarios and requires the following significant estimates : revenue , expenses , capital spending and other costs , and discount rates based on the respective risks of the cash flows . under the acquisition method of accounting , the aggregate amount of consideration we pay for a company is allocated to net tangible assets and intangible assets based on their estimated fair values as of the acquisition date . the excess of the purchase price over the value of the net tangible assets and intangible assets is recorded to goodwill . on an annual basis , we test goodwill for impairment and through march 31 , 2020 , we have never recorded an impairment charge against our goodwill balance . 40 share-based compensation we measure at fair value and recognize compensation expense for all share-based payment awards , including grants of employee stock options , restricted stock units ( rsus ) and employee stock purchase rights , to be recognized in our financial statements based on their respective grant date fair values . we utilize rsus as our primary equity incentive compensation instrument for employees . share-based compensation cost is measured on the grant date based on the fair market value of our common stock discounted for expected future dividends and is recognized as expense on a straight-line basis over the requisite service periods . total share-based compensation expense recognized during the fiscal 2020 was $ 170.2 million , of which $ 149.3 million was reflected in operating expenses and $ 20.9 million was reflected in cost of sales . total share-based compensation included in our inventory balance was $ 14.4 million at march 31 , 2020 . if there are any modifications or cancellations of the underlying unvested securities , we may be required to accelerate , increase or cancel any remaining unearned share-based compensation expense . future share-based compensation expense and unearned share-based compensation will increase to the extent that we grant additional equity awards to employees or we assume unvested equity awards in connection with acquisitions . inventories inventories are valued at the lower of cost or net realizable value using the first-in , first-out method . we write down our inventory for estimated obsolescence or unmarketable inventory in an amount equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions . if actual market conditions are less favorable than those we projected , additional inventory write-downs may be required . inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable . in estimating our inventory obsolescence , we primarily evaluate estimates of demand over a 12-month period and record impairment charges for inventory on hand in excess of the estimated 12-month demand . estimates for projected 12-month demand are generally based on the average shipments of the prior three-month period , which are then annualized to adjust for any potential seasonality in our business . the estimated 12-month demand is compared to our most recently developed sales forecast to further reconcile the 12-month demand estimate . management reviews and adjusts the estimates as appropriate based on specific situations . for example , demand

. cash dividends paid per share were $ 1.465 , $ 1.457 and $ 1.449 during fiscal 2020 , 2019 and 2018 , respectively . total dividend payments amounted to $ 350.1 million , $ 344.4 million and $ 337.5 million during fiscal 2020 , 2019 and 2018 , respectively . a quarterly dividend of $ 0.3675 per share was declared on may 7 , 2020 and will be paid on june 4 , 2020 to stockholders of record as of may 21 , 2020 . we expect the aggregate cash dividend for june 2020 to be approximately $ 90.3 million . our board is free to change our dividend practices at any time and to increase or decrease the dividend paid , or not to pay a dividend on our common stock on the basis of our results of operations , financial condition , cash requirements and future prospects , and other factors deemed relevant by our board . our current intent is to provide for ongoing quarterly cash dividends depending upon market conditions , our results of operations , and potential changes in tax laws . we believe that our existing sources of liquidity combined with cash generated from operations and borrowings under our revolving credit facility will be sufficient to meet our currently anticipated cash requirements for at least the next 12 months . however , the semiconductor industry is capital intensive . in order to remain competitive , we must constantly evaluate the need to make significant investments in capital equipment for both production and research and development . we may increase our borrowings under our revolving credit facility or seek additional equity or debt financing from time to time to maintain or expand our wafer fabrication and product assembly and test facilities , for cash dividends , for share repurchases or for acquisitions or other purposes .


 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 dividends paid per share were $ 1.465 , $ 1.457 and $ 1.449 during fiscal 2020 , 2019 and 2018 , respectively . total dividend payments amounted to $ 350.1 million , $ 344.4 million and $ 337.5 million during fiscal 2020 , 2019 and 2018 , respectively . a quarterly dividend of $ 0.3675 per share was declared on may 7 , 2020 and will be paid on june 4 , 2020 to stockholders of record as of may 21 , 2020 . we expect the aggregate cash dividend for june 2020 to be approximately $ 90.3 million . our board is free to change our dividend practices at any time and to increase or decrease the dividend paid , or not to pay a dividend on our common stock on the basis of our results of operations , financial condition , cash requirements and future prospects , and other factors deemed relevant by our board . our current intent is to provide for ongoing quarterly cash dividends depending upon market conditions , our results of operations , and potential changes in tax laws . we believe that our existing sources of liquidity combined with cash generated from operations and borrowings under our revolving credit facility will be sufficient to meet our currently anticipated cash requirements for at least the next 12 months . however , the semiconductor industry is capital intensive . in order to remain competitive , we must constantly evaluate the need to make significant investments in capital equipment for both production and research and development . we may increase our borrowings under our revolving credit facility or seek additional equity or debt financing from time to time to maintain or expand our wafer fabrication and product assembly and test facilities , for cash dividends , for share repurchases or for acquisitions or other purposes .
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 Suspicious Activity Report : our belief that our existing level of inventory will allow us to maintain competitive lead times and provide strong delivery performance to our customers ; the effect that distributor and customer inventory holding patterns will have on us ; our belief that customers recognize our products and brand name and use distributors as an effective supply channel ; anticipating increased customer requirements to meet voluntary criteria related to the reduction or elimination of substances in our products ; our belief that our direct sales personnel combined with our distributors provide an effective means of reaching our customer base ; the accuracy of our estimates of the useful life and values of our property , assets and other liabilities ; our ability to increase the proprietary portion of our analog , interface , mixed signal and timing product lines and the effect of such an increase ; our belief that our processes afford us both cost-effective designs in existing and derivative products and greater functionality in new product designs ; the impact of any supply disruption we may experience ; our ability to effectively utilize our facilities at appropriate capacity levels and anticipated costs ; 35 that we adjust capacity utilization to respond to actual and anticipated business and industry-related conditions ; that manufacturing costs will be reduced by transition to advanced process technologies ; our ability to maintain manufacturing yields ; continuing our investments in new and enhanced products ; the cost effectiveness of using our own assembly and test operations ; our plans for operation of our fabrication facilities , including our plan to close our facility in santa clara , california ; the cost savings from re-purposing fab 5 for the manufacture of discrete and specialty products in addition to a lower volume of a diversified set of standard products and transferring the manufacture of certain higher volume products to other facilities ; our anticipated level of capital expenditures ; continuation and amount of quarterly cash dividends ; the sufficiency of our existing sources of liquidity to finance anticipated capital expenditures and otherwise meet our anticipated cash requirements , and the effects that our contractual obligations are expected to have on them ; the impact of seasonality on our business ; our belief that our it system compromise has not had a material adverse effect on our business or resulted in any material damage to us ; our expectation that we will continue to be the target of attacks on our data , attempts to breach our security and attempts to introduce malicious software into our it systems ; the accuracy of our estimates used in valuing employee equity awards ; that the resolution of legal actions will not have a material effect on our business , and the accuracy of our assessment of the probability of loss and range of potential loss ; the recoverability of our deferred tax assets ; the adequacy of our tax reserves to offset any potential tax liabilities , having the appropriate support for our income tax positions and the accuracy of our estimated tax rate ; our belief that the expiration of any tax holidays will not have a material impact on our financial statements or effective tax rate ; the impact of our intra-group asset transfers , and the geographical dispersion of our earnings and losses on our effective tax rate ; our belief that the estimates used in preparing our consolidated financial statements are reasonable ; our actions to vigorously and aggressively defend and protect our intellectual property on a worldwide basis ; our ability to obtain patents and intellectual property licenses and minimize the effects of litigation ; the level of risk we are exposed to for product liability claims or indemnification claims ; the effect of fluctuations in market interest rates on our income and or cash flows ; the effect of fluctuations in currency rates ; that we could increase our borrowings or seek additional equity or debt financing to maintain or expand our facilities , or to fund cash dividends , share repurchases , acquisitions or other corporate activities , and that the timing and amount of such financing requirements will depend on a number of factors ; our intention to satisfy the lesser of the principal amount or the conversion value of our debentures in cash ; our intention to invest substantially all of our foreign subsidiary earnings , as well as our capital in our foreign subsidiaries , indefinitely outside of the u.s. in those jurisdictions in which we would incur significant , additional costs upon repatriation of such amounts . changes to the taxation of undistributed foreign earnings could change our future intentions regarding reinvestment of such earnings ; our belief that the effect the new tax laws will have on low-taxed income of foreign subsidiaries will have the most significant , adverse impact ; and our ability to collect accounts receivable . our actual results could differ materially from the results anticipated in these forward-looking statements as a result of certain factors including those set forth in `` item 1a – risk factors , `` and elsewhere in this form 10-k . although we believe that the expectations reflected in our forward-looking statements are reasonable , we can not guarantee future results , levels of activity , performance or achievements . you should not place undue reliance on these forward-looking statements . we disclaim any obligation to update the information contained in any forward-looking statement . 36 introduction the following discussion should be read in conjunction with the consolidated financial statements and the related notes that appear elsewhere in this document , as well as with other sections of this annual report on form 10-k , including `` item 1 – business ; `` `` item 6 – selected financial data ; `` and `` item 8 – financial statements and supplementary data . story_separator_special_tag after the transaction price has been allocated , we recognize revenue when the performance obligation is satisfied . substantially all of the revenue generated from contracts with distributors is recognized at the time risk and title of the inventory transfers to the distributor . sales to our direct customers are generally governed by a purchase order and an order acknowledgment . sales to direct customers usually do not meet the definition of a contract , as defined by asc 606 , until shipment of the product occurs . generally , the transaction price associated with contracts with direct customers is set at the standalone selling price and is not variable . usually , there is only a single performance obligation in the contract , and therefore the entire transaction price is allocated to the single performance obligation . after the transaction price has been allocated , we recognize revenue when the performance obligation is satisfied . substantially all of the revenue generated from contracts with direct customers is recognized at the time risk and title of the inventory transfers to the customer . revenue generated from our licensees is governed by licensing agreements . our primary performance obligation related to these agreements is to provide the licensee the right to use the intellectual property . the final transaction price is determined by multiplying the usage of the license by the royalty , which is fixed in the licensing agreement . revenue is recognized as usage of the license occurs . business combinations all of our business combinations are accounted for at fair value under the acquisition method of accounting . under the acquisition method of accounting , ( i ) acquisition-related costs , except for those costs incurred to issue debt or equity securities , will be expensed in the period incurred ; ( ii ) non-controlling interests will be valued at fair value at the acquisition date ; ( iii ) in-process research and development will be recorded at fair value as an intangible asset at the acquisition date and amortized once the technology reaches technological feasibility ; ( iv ) restructuring costs associated with a business combination will be expensed subsequent to the acquisition date ; and ( v ) changes in deferred tax asset valuation allowances and income tax uncertainties after the acquisition date will be recognized through income tax expense . the measurement of the fair value of assets acquired and liabilities assumed requires significant judgment . the valuation of intangible assets , in particular , requires that we use valuation techniques such as the income approach . the income approach includes the use of a discounted cash flow model , which includes discounted cash flow scenarios and requires the following significant estimates : revenue , expenses , capital spending and other costs , and discount rates based on the respective risks of the cash flows . under the acquisition method of accounting , the aggregate amount of consideration we pay for a company is allocated to net tangible assets and intangible assets based on their estimated fair values as of the acquisition date . the excess of the purchase price over the value of the net tangible assets and intangible assets is recorded to goodwill . on an annual basis , we test goodwill for impairment and through march 31 , 2020 , we have never recorded an impairment charge against our goodwill balance . 40 share-based compensation we measure at fair value and recognize compensation expense for all share-based payment awards , including grants of employee stock options , restricted stock units ( rsus ) and employee stock purchase rights , to be recognized in our financial statements based on their respective grant date fair values . we utilize rsus as our primary equity incentive compensation instrument for employees . share-based compensation cost is measured on the grant date based on the fair market value of our common stock discounted for expected future dividends and is recognized as expense on a straight-line basis over the requisite service periods . total share-based compensation expense recognized during the fiscal 2020 was $ 170.2 million , of which $ 149.3 million was reflected in operating expenses and $ 20.9 million was reflected in cost of sales . total share-based compensation included in our inventory balance was $ 14.4 million at march 31 , 2020 . if there are any modifications or cancellations of the underlying unvested securities , we may be required to accelerate , increase or cancel any remaining unearned share-based compensation expense . future share-based compensation expense and unearned share-based compensation will increase to the extent that we grant additional equity awards to employees or we assume unvested equity awards in connection with acquisitions . inventories inventories are valued at the lower of cost or net realizable value using the first-in , first-out method . we write down our inventory for estimated obsolescence or unmarketable inventory in an amount equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions . if actual market conditions are less favorable than those we projected , additional inventory write-downs may be required . inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable . in estimating our inventory obsolescence , we primarily evaluate estimates of demand over a 12-month period and record impairment charges for inventory on hand in excess of the estimated 12-month demand . estimates for projected 12-month demand are generally based on the average shipments of the prior three-month period , which are then annualized to adjust for any potential seasonality in our business . the estimated 12-month demand is compared to our most recently developed sales forecast to further reconcile the 12-month demand estimate . management reviews and adjusts the estimates as appropriate based on specific situations . for example , demand

