actions taken to mitigate the impact of covid-19 on our business included : ( 1 ) director , executive and senior leadership salary reductions , and for the majority of employees , a four-day work week with associated labor cost reductions , in each case beginning in april 2020 and ceasing near the end of july 2020 ; ( 2 ) a freeze on spending not directly tied to near-term billings , including a reduction in all discretionary spending such as marketing , advertising , travel , and office supplies ; ( 3 ) reduced inventory purchasing ; ( 4 ) deferral of long-term capital projects not directly contributing to billings in 2020 ; and ( 5 ) borrowing $ 150 million from our asset-backed credit facility as a pre-emptive measure to mitigate against capital market disruptions . further , we elected to defer the payment of our employer payroll taxes allowed under the coronavirus aid , relief , and economic security ( “ cares ” ) act . 31 the majority of the hmh workforce has continued to work remotely subsequent to march 2020. the four-day work week furlough program along with director , executive , and senior leadership salary reductions that we announced in march 2020 ended by the end of july . the costs associated with ending the furlough program and the salary reductions were subsequently mitigated by the 2020 restructuring plan discussed below . we also repaid $ 50.0 million of our asset-backed credit facility at the end of june and repaid the remaining outstanding $ 100.0 million during july and currently have no drawn balance on our asset-backed credit facility . further , the deferral of the payment of our employer payroll taxes allowed under the cares act during 2020 was repaid in full in december 2020. given the ongoing covid-19 situation , our education business will continue to be impacted during 2021 , and significant uncertainty is likely to persist in the marketplace . additionally , our hmh books & media business may continue to be impacted . 2020 restructuring plan we are continuing to assess our cost structure amid the covid-19 pandemic and in line with our strategic transformation plan announced in the fourth quarter of 2019 , discussed below , to ensure our cost structure is aligned to our net sales and long-term strategy . as part of this effort , o n september 4 , 2020 , we finalized a voluntary retirement incentive program , which was offered to all u.s. based employees at least 55 years of age with at least five years of service . of the eligible employees , 165 elected to participate representing approximately 5 % of our workforce . the majority of the employees voluntarily retired as of september 4 , 2020 with select employees leaving later in the year . each of the employees received or will receive separation payments in accordance with our severance policy . on september 30 , 2020 , our board of directors committed to a restructuring program , including a reduction in force , as part of the ongoing assessment of our cost structure amid the covid-19 pandemic and in line with our previously disclosed strategic transformation plan . the reduction in force resulted in a 22 % reduction in our workforce , including positions eliminated as part of the voluntary retirement incentive program mentioned above , and net of newly created positions to support our digital-first operations . the reduction in force resulted in the departure of approximately 525 employees and was completed in october 2020. each of the employees received or will receive separation payments in accordance with our severance policy . the total one-time , non-recurring cost incurred in connection with the 2020 restructuring program , inclusive of the voluntary retirement incentive program ( collectively the “ 2020 restructuring plan ” ) , all of which represents cash expenditures , is approximately $ 33.6 million . these actions are aligned with our strategic transformation plan launched in the fourth quarter of 2019 to streamline the cost structure of the company . strategic transformation plan on october 15 , 2019 , our board of directors approved changes connected with our ongoing strategic transformation to simplify our business model and accelerate growth . this includes new product development and go-to-market capabilities , as well as the streamlining of operations company-wide for greater efficiency . these actions , which we refer to as our 2019 restructuring plan , resulted in the net elimination of approximately 10 % of our workforce , after taking into account new strategy-aligned positions that are expected to be added , and additional operating and capitalized cost reductions , including an approximately 20 % reduction in previously planned content development expenditures over the next three years . these steps are intended to further simplify our business model while delivering increased value to customers , teachers and students . the workforce reductions were completed during the first quarter of 2020. after considering additional headcount actions , implementation of the planned actions resulted in total charges of $ 15.8 million which was recorded in the fourth quarter of 2019. with respect to each major type of cost associated with such activities , substantially all costs were severance and other termination benefit costs and will result in cash expenditures . further , as part of the strategic transformation plan , we recorded an incremental $ 9.8 million inventory obsolescence charge in the fourth quarter of 2019 which is recorded in cost of sales in the statement of operations . 32 other events in november 2020 , the company announced that it will explore a potential sale of the hmh books and media segment . such a sale would be intended to build on the company 's other strategic restructuring efforts and further align its cost structure to its digital-first strategy . story_separator_special_tag the net sales decrease was driven by a $ 371.1 million decrease in our education segment , offset by a $ 11.7 million increase in our hmh books & media segment . within our education segment , the decrease was primarily due to lower net sales in extensions , which primarily consist of our heinemann brand , intervention and supplemental products as well as professional services , which decreased by $ 252.0 million from $ 632.0 million in 2019 to $ 380.0 million . within extensions , net sales decreased due to lower sales of the heinemann 's fountas & pinnell classroom , calkins and lli leveled literacy products due to a difficult comparison to prior year texas k-6 sales coupled with the impact of the covid-19 pandemic in 2020. also , contributing to the decrease was lower professional services with the decline of the in-person learning environment as a result of the covid-19 pandemic . further , there were lower net sales from core solutions which decreased by $ 119.0 million from $ 578.0 million in 2019 to $ 459.0 million , primarily due to the smaller new adoption market opportunity in texas ela , along with impacts of the covid-19 pandemic . within our hmh books & media segment , the increase in net sales was primarily due to $ 9.6 million of licensing revenue from a new production series , a $ 3.4 million increase in licensing revenue attributed to the carmen sandiego series on netflix , and strong net sales of the frontlist titles the 99 % invisible city , compromised and defined dish . offsetting the aforementioned , was lower net sales of both adult and young reader 's categories due to the closure of bookstores during the covid-19 pandemic and the corresponding delay in releases of new frontlist titles . 37 operating loss for the year ended dec ember 3 1 , 2020 unfavorably changed from a loss of $ 163 .2 million in 2019 to a loss of $ 429.1 million , due primarily to the following : a $ 359.4 million decrease in net sales ; an impairment charge for goodwill in 2020 of $ 279.0 million . this non-cash impairment is a direct result of the adverse impact that the covid-19 pandemic has had on the company ; a $ 11.9 million increase in costs associated with our restructuring/severance and other charges due to $ 33.6 million of severance costs associated with the 2020 restructuring plan ; partially offset by : a $ 184.5 million decrease in selling and administrative expenses , primarily due to lower labor costs of $ 77.0 million , resulting from cost savings associated with our employee furlough initiative , which began in april and ceased at the end of july , in response to covid-19 , our 2020 restructuring plan and a freeze on hiring . also , there was a decrease of $ 52.0 million of variable expenses such as commissions and transportation due to lower billings . further , there were lower discretionary costs of $ 44.0 million primarily related to travel and expense reduction measures and marketing along with lower depreciation expense of $ 11.0 million ; a $ 170.3 million decrease in our cost of sales , excluding publishing rights and pre-publication amortization , from $ 668.1 million in 2019 to $ 497.8 million , primarily due to lower billings . our cost of sales , excluding publishing rights and pre-publication amortization , as a percentage of sales , was essentially flat year over year ; and a $ 29.6 million decrease in net amortization expense related to publishing rights , pre-publication and other intangible assets , primarily due to a decrease in pre-publication amortization attributed to the timing and large amount of 2019 major product releases and , to a lesser extent , our use of accelerated amortization methods for publishing rights amortization . retirement benefits non-service ( expense ) income for the year ended december 31 , 2020 changed unfavorably by $ 1.0 million due to the recognition of a $ 1.1 million settlement charge related to the pension plan during 2020. interest expense for the year ended december 31 , 2020 increased $ 17.2 million from $ 48.8 million in 2019 to $ 66.0 million , primarily due to our 2019 refinancing during the fourth quarter of 2019. further , there was an increase of $ 2.4 million of net settlement payments on our interest rate derivative instruments during 2020. interest income for the year ended december 31 , 2020 decreased $ 2.3 million from $ 3.2 million in 2019 to $ 0.9 million , primarily due to lower interest rates on our money market funds in 2020. change in fair value of derivative instruments for the year ended december 31 , 2020 favorably changed by $ 1.6 million due to foreign exchange forward contracts executed on the euro that were favorably impacted by the weakening of the u.s. dollar against the euro . gain on investments for the year ended december 31 , 2020 was $ 2.1 million and was related to the fair value change in our equity interests in educational technology private partnerships . income from transition services agreement for the year ended december 31 , 2019 was $ 4.2 million and was related to transition service fees under the transition services agreement with the purchaser of o ur riverside business pursuant to which we performed certain support functions through september 30 , 2019. we had no income from transition services agreement for the year ended december 31 , 2020. loss on extinguishment of debt for the year ended december 31 , 2019 consisted of a $ 3.4 million write-off related to unamortized deferred financing fees associated with the portion of our previous term loan facility that was accounted for as an extinguishment . further , there was a $ 1.0 million write off of the remaining balance of the debt discount associated with the previous

liquidity and capital resources replace_table_token_8_th operating activities net cash provided by operating activities was $ 115.2 million for the year ended december 31 , 2020 , a $ 139.7 million decrease from the $ 255.0 million of net cash provided by operating activities for the year ended december 31 , 2019. the decrease in cash provided by operating activities was primarily driven by unfavorable changes in net operating assets and liabilities of $ 78.4 million primarily due to changes in deferred revenue of $ 143.3 million and $ 29.3 million of royalties related to greater billings in 2019 , accounts payable of $ 22.8 million related to timing of disbursements and severance and other charges of $ 3.4 million due to the 2020 restructuring plan , offset by favorable period over period inventory changes of $ 74.9 million , favorable period over period changes in accounts receivable of $ 12.4 million , an increase in operating lease liabilities of $ 15.3 million , pension and postretirement benefits of $ 8.2 million , interest payable of $ 3.5 million due to the timing of our 2019 refinancing and other assets and liabilities of $ 6.1 million . additionally , operating profit , net of non-cash items , decreased by $ 61.4 million .


 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 operating activities net cash provided by operating activities was $ 115.2 million for the year ended december 31 , 2020 , a $ 139.7 million decrease from the $ 255.0 million of net cash provided by operating activities for the year ended december 31 , 2019. the decrease in cash provided by operating activities was primarily driven by unfavorable changes in net operating assets and liabilities of $ 78.4 million primarily due to changes in deferred revenue of $ 143.3 million and $ 29.3 million of royalties related to greater billings in 2019 , accounts payable of $ 22.8 million related to timing of disbursements and severance and other charges of $ 3.4 million due to the 2020 restructuring plan , offset by favorable period over period inventory changes of $ 74.9 million , favorable period over period changes in accounts receivable of $ 12.4 million , an increase in operating lease liabilities of $ 15.3 million , pension and postretirement benefits of $ 8.2 million , interest payable of $ 3.5 million due to the timing of our 2019 refinancing and other assets and liabilities of $ 6.1 million . additionally , operating profit , net of non-cash items , decreased by $ 61.4 million .
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 Suspicious Activity Report : actions taken to mitigate the impact of covid-19 on our business included : ( 1 ) director , executive and senior leadership salary reductions , and for the majority of employees , a four-day work week with associated labor cost reductions , in each case beginning in april 2020 and ceasing near the end of july 2020 ; ( 2 ) a freeze on spending not directly tied to near-term billings , including a reduction in all discretionary spending such as marketing , advertising , travel , and office supplies ; ( 3 ) reduced inventory purchasing ; ( 4 ) deferral of long-term capital projects not directly contributing to billings in 2020 ; and ( 5 ) borrowing $ 150 million from our asset-backed credit facility as a pre-emptive measure to mitigate against capital market disruptions . further , we elected to defer the payment of our employer payroll taxes allowed under the coronavirus aid , relief , and economic security ( “ cares ” ) act . 31 the majority of the hmh workforce has continued to work remotely subsequent to march 2020. the four-day work week furlough program along with director , executive , and senior leadership salary reductions that we announced in march 2020 ended by the end of july . the costs associated with ending the furlough program and the salary reductions were subsequently mitigated by the 2020 restructuring plan discussed below . we also repaid $ 50.0 million of our asset-backed credit facility at the end of june and repaid the remaining outstanding $ 100.0 million during july and currently have no drawn balance on our asset-backed credit facility . further , the deferral of the payment of our employer payroll taxes allowed under the cares act during 2020 was repaid in full in december 2020. given the ongoing covid-19 situation , our education business will continue to be impacted during 2021 , and significant uncertainty is likely to persist in the marketplace . additionally , our hmh books & media business may continue to be impacted . 2020 restructuring plan we are continuing to assess our cost structure amid the covid-19 pandemic and in line with our strategic transformation plan announced in the fourth quarter of 2019 , discussed below , to ensure our cost structure is aligned to our net sales and long-term strategy . as part of this effort , o n september 4 , 2020 , we finalized a voluntary retirement incentive program , which was offered to all u.s. based employees at least 55 years of age with at least five years of service . of the eligible employees , 165 elected to participate representing approximately 5 % of our workforce . the majority of the employees voluntarily retired as of september 4 , 2020 with select employees leaving later in the year . each of the employees received or will receive separation payments in accordance with our severance policy . on september 30 , 2020 , our board of directors committed to a restructuring program , including a reduction in force , as part of the ongoing assessment of our cost structure amid the covid-19 pandemic and in line with our previously disclosed strategic transformation plan . the reduction in force resulted in a 22 % reduction in our workforce , including positions eliminated as part of the voluntary retirement incentive program mentioned above , and net of newly created positions to support our digital-first operations . the reduction in force resulted in the departure of approximately 525 employees and was completed in october 2020. each of the employees received or will receive separation payments in accordance with our severance policy . the total one-time , non-recurring cost incurred in connection with the 2020 restructuring program , inclusive of the voluntary retirement incentive program ( collectively the “ 2020 restructuring plan ” ) , all of which represents cash expenditures , is approximately $ 33.6 million . these actions are aligned with our strategic transformation plan launched in the fourth quarter of 2019 to streamline the cost structure of the company . strategic transformation plan on october 15 , 2019 , our board of directors approved changes connected with our ongoing strategic transformation to simplify our business model and accelerate growth . this includes new product development and go-to-market capabilities , as well as the streamlining of operations company-wide for greater efficiency . these actions , which we refer to as our 2019 restructuring plan , resulted in the net elimination of approximately 10 % of our workforce , after taking into account new strategy-aligned positions that are expected to be added , and additional operating and capitalized cost reductions , including an approximately 20 % reduction in previously planned content development expenditures over the next three years . these steps are intended to further simplify our business model while delivering increased value to customers , teachers and students . the workforce reductions were completed during the first quarter of 2020. after considering additional headcount actions , implementation of the planned actions resulted in total charges of $ 15.8 million which was recorded in the fourth quarter of 2019. with respect to each major type of cost associated with such activities , substantially all costs were severance and other termination benefit costs and will result in cash expenditures . further , as part of the strategic transformation plan , we recorded an incremental $ 9.8 million inventory obsolescence charge in the fourth quarter of 2019 which is recorded in cost of sales in the statement of operations . 32 other events in november 2020 , the company announced that it will explore a potential sale of the hmh books and media segment . such a sale would be intended to build on the company 's other strategic restructuring efforts and further align its cost structure to its digital-first strategy . story_separator_special_tag the net sales decrease was driven by a $ 371.1 million decrease in our education segment , offset by a $ 11.7 million increase in our hmh books & media segment . within our education segment , the decrease was primarily due to lower net sales in extensions , which primarily consist of our heinemann brand , intervention and supplemental products as well as professional services , which decreased by $ 252.0 million from $ 632.0 million in 2019 to $ 380.0 million . within extensions , net sales decreased due to lower sales of the heinemann 's fountas & pinnell classroom , calkins and lli leveled literacy products due to a difficult comparison to prior year texas k-6 sales coupled with the impact of the covid-19 pandemic in 2020. also , contributing to the decrease was lower professional services with the decline of the in-person learning environment as a result of the covid-19 pandemic . further , there were lower net sales from core solutions which decreased by $ 119.0 million from $ 578.0 million in 2019 to $ 459.0 million , primarily due to the smaller new adoption market opportunity in texas ela , along with impacts of the covid-19 pandemic . within our hmh books & media segment , the increase in net sales was primarily due to $ 9.6 million of licensing revenue from a new production series , a $ 3.4 million increase in licensing revenue attributed to the carmen sandiego series on netflix , and strong net sales of the frontlist titles the 99 % invisible city , compromised and defined dish . offsetting the aforementioned , was lower net sales of both adult and young reader 's categories due to the closure of bookstores during the covid-19 pandemic and the corresponding delay in releases of new frontlist titles . 37 operating loss for the year ended dec ember 3 1 , 2020 unfavorably changed from a loss of $ 163 .2 million in 2019 to a loss of $ 429.1 million , due primarily to the following : a $ 359.4 million decrease in net sales ; an impairment charge for goodwill in 2020 of $ 279.0 million . this non-cash impairment is a direct result of the adverse impact that the covid-19 pandemic has had on the company ; a $ 11.9 million increase in costs associated with our restructuring/severance and other charges due to $ 33.6 million of severance costs associated with the 2020 restructuring plan ; partially offset by : a $ 184.5 million decrease in selling and administrative expenses , primarily due to lower labor costs of $ 77.0 million , resulting from cost savings associated with our employee furlough initiative , which began in april and ceased at the end of july , in response to covid-19 , our 2020 restructuring plan and a freeze on hiring . also , there was a decrease of $ 52.0 million of variable expenses such as commissions and transportation due to lower billings . further , there were lower discretionary costs of $ 44.0 million primarily related to travel and expense reduction measures and marketing along with lower depreciation expense of $ 11.0 million ; a $ 170.3 million decrease in our cost of sales , excluding publishing rights and pre-publication amortization , from $ 668.1 million in 2019 to $ 497.8 million , primarily due to lower billings . our cost of sales , excluding publishing rights and pre-publication amortization , as a percentage of sales , was essentially flat year over year ; and a $ 29.6 million decrease in net amortization expense related to publishing rights , pre-publication and other intangible assets , primarily due to a decrease in pre-publication amortization attributed to the timing and large amount of 2019 major product releases and , to a lesser extent , our use of accelerated amortization methods for publishing rights amortization . retirement benefits non-service ( expense ) income for the year ended december 31 , 2020 changed unfavorably by $ 1.0 million due to the recognition of a $ 1.1 million settlement charge related to the pension plan during 2020. interest expense for the year ended december 31 , 2020 increased $ 17.2 million from $ 48.8 million in 2019 to $ 66.0 million , primarily due to our 2019 refinancing during the fourth quarter of 2019. further , there was an increase of $ 2.4 million of net settlement payments on our interest rate derivative instruments during 2020. interest income for the year ended december 31 , 2020 decreased $ 2.3 million from $ 3.2 million in 2019 to $ 0.9 million , primarily due to lower interest rates on our money market funds in 2020. change in fair value of derivative instruments for the year ended december 31 , 2020 favorably changed by $ 1.6 million due to foreign exchange forward contracts executed on the euro that were favorably impacted by the weakening of the u.s. dollar against the euro . gain on investments for the year ended december 31 , 2020 was $ 2.1 million and was related to the fair value change in our equity interests in educational technology private partnerships . income from transition services agreement for the year ended december 31 , 2019 was $ 4.2 million and was related to transition service fees under the transition services agreement with the purchaser of o ur riverside business pursuant to which we performed certain support functions through september 30 , 2019. we had no income from transition services agreement for the year ended december 31 , 2020. loss on extinguishment of debt for the year ended december 31 , 2019 consisted of a $ 3.4 million write-off related to unamortized deferred financing fees associated with the portion of our previous term loan facility that was accounted for as an extinguishment . further , there was a $ 1.0 million write off of the remaining balance of the debt discount associated with the previous

