we now report results for two segments : products and services . we ship a majority of our products and provide most of our services to u.s. registered customers with locations both in and outside the u.s. in addition to u.s. manufacturing and service operations , we manufacture products and provide parts cleaning and other related services in our asian and european facilities to support local and u.s. based customers . over the long-term , we believe the semiconductor market we serve will continue to grow due to multi-year industry inflections creating demand from a broad range of drivers including mobile demand driven by 5g , new cpu architectures which are enabling higher performance servers , and cloud , ai and machine learnings . we also believe that semiconductor equipment oems are increasingly relying on partners like uct to fulfill their expanding capacity requirements . critical accounting estimates our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the united states , which require us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenue and expenses and related disclosure at the date of our consolidated financial statements . on an on-going basis , we evaluate our estimates and judgments , including those related to inventories , income taxes , business combinations and goodwill , intangible assets and long-lived assets . we base our estimates and judgments on historical experience and on various other factors that we believe to be reasonable under the circumstances , the results of which form the basis of our judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates . we consider certain accounting policies related to revenue recognition , inventory valuation , accounting for income taxes , business combinations , valuation of goodwill , intangible assets and long-lived assets to be critical policies due to the estimates and judgments involved in each . 31 revenue recognition our revenues for fiscal years 2020 , 2019 and 2018 were highly concentrated in a small number of oem customers in the semiconductor capital equipment industry . we recognize revenue when promised goods or services ( performance obligations ) are transferred to a customer in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services . we perform the following five steps to determine when to recognize revenue : 1. identification of the contract ( s ) with customers – our standard arrangement for our customers includes a signed purchase order or contract , no right of return of delivered products and no customer acceptance provisions . we assess collectability based on the creditworthiness of the customer and past transaction history . we perform on-going credit evaluations of , and do not require collateral from , our customers . 2. identification of the performance obligations in the contract – our performance obligations include delivery of promised goods or services . 3. determination of the transaction price – the transaction price of our contracts with customers may include both fixed and variable consideration . we include variable consideration in the transaction price to the extent that it is probable that a significant reversal of revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved . we generally invoice our customers upon shipment of goods and completion of services with payment due within 30 to 90 days after issuance . 4. allocation of the transaction price to the performance obligations in the contract – for contracts that contain multiple performance obligations , we allocate the transaction price to the performance obligations on a relative standalone selling price basis . for contracts with multiple performance obligations , we allocate the contract 's transaction price to each performance obligation using the relative standalone selling price of each distinct good or service in the contract . 5. recognition of revenue when , or as , a performance obligation is satisfied – we recognize revenue from products sold at a point in time when we have satisfied our performance obligation by transferring control of the goods to the customer , which typically occurs at shipment or delivery . revenue from service agreements is recognized upon completion of the services . inventory valuation we write down the carrying value of our inventory to net realizable value for estimated obsolescence or unmarketable inventory in an amount equal to the difference between the cost of inventory and its estimated realizable value based upon inventory age and assumptions about future demand and market conditions . we assess the valuation of all inventories , including raw materials , work-in-process , finished goods and spare parts on a periodic basis . obsolete inventory or inventory in excess of our estimated usage is written down to its estimated market value less costs to sell , if less than its cost . the inventory write-downs are recorded as an inventory valuation allowance established on the basis of obsolete inventory or specifically identified inventory in excess of established usage . inherent in our estimates of demand and market value in determining inventory valuation are estimates related to economic trends , future demand for our products and technological obsolescence of our products . if actual demand and market conditions are less favorable than our projections , additional inventory write-downs may be required . if the inventory value is written down to its net realizable value , and subsequently there is an increased demand for the inventory at a higher value , the increased value of the inventory is not realized until the inventory is sold either as a component of a subsystem or as separate inventory . story_separator_special_tag as of december 25 , 2020 , the total u.s. and foreign valuation allowances for deferred tax assets were $ 23.1 million and $ 2.5 million , respectively . our ability to realize deferred tax assets depends on our ability to generate sufficient future taxable income . in assessing our future taxable income , we have considered all sources of future taxable income available to realize our deferred tax assets , including the taxable income from future reversal of existing temporary differences , carry forwards , and tax-planning strategies . if changes occur in the assumptions underlying our tax planning strategies or in the scheduling of the reversal of our deferred tax liabilities , the valuation allowance may need to be adjusted in the future . the company remitted foreign earnings from its subsidiary in singapore in 2020. the company has no plans to remit foreign earnings other than possibly from its singapore subsidiary . we may change our intent to reinvest certain of our undistributed foreign earnings indefinitely , which could require us to accrue or pay taxes on some or all of these undistributed earnings . liquidity and capital resources cash and cash equivalents the following table summarizes our cash and cash equivalents : replace_table_token_13_th the increase in cash and cash equivalents in fiscal year 2020 compared to fiscal year 2019 was primarily due to the cash provided by operating activities of $ 97.3 million , partially offset by the $ 36.4 million used for purchases of property , plant and equipment and principal payments on bank borrowings and finance leases of $ 28.8 million . 37 story_separator_special_tag roman ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > 5 , 2020 . the letter of credit facility has an initial available commitment of $ 50.0 million and a maturity date of august 27 , 2023. we pay quarterly in arrears a fee equal to 2.5 % ( subject to certain adjustments as per the term loans ) of the dollar equivalent of all outstanding letters of credit , and a fronting fee equal to 0.125 % of the undrawn and unexpired amount of each letter of credit . as of december 25 , 2020 , we had $ 2.4 million outstanding letters of credit with beneficiaries such as landlords of certain facility leases and government agencies making up the majority of the outstanding balance . the remaining available commitments are $ 47.6 million on the letter of credit facility and $ 65.0 million on the revolving credit facility . in fiscal 2020 , cinos china amended its existing credit agreement and entered into two additional credit agreements with a local bank that provide revolving credit facilities for a total available commitment of $ 3.5 million with various maturity dates through september 23 , 2022 and interest rates ranging from 1.9 % to 4.1 % . as of december 25 , 2020 , cinos china had an outstanding amount of $ 1.9 million with an interest rates of 2.1 % to 4.1 % under these credit agreements . cinos korea has credit agreements with various banks that provide revolving credit facilities for a total available commitment of 1.6 billion korean won ( approximately $ 1.4 million ) with annual renewals beginning from april 2021 through june 2021 and interest rates ranging from 1.4 % - 5.4 % . during the fiscal year ended december 25 , 2020 , borrowings under these revolving facilities were insignificant and no amounts were outstanding as of december 25 , 2020 . fds has a credit agreement with a local bank in the czech republic that provides for a revolving credit facility in the aggregate of up to 6.0 million euros . as of december 25 , 2020 , fds had no outstanding amount under its revolving credit facility . as of december 25 , 2020 , our total bank debt was $ 269.0 million , net of unamortized debt issuance costs of $ 7.9 million . as of december 25 , 2020 , we had $ 65.0 million , $ 7.3 million ( 6.0 million euros ) and $ 1.6 million available to draw from our revolving credit facilities in the u.s. , czech republic and china , respectively . the fair value of our long-term debt was based on level 2 inputs , and fair value was determined using quoted prices for similar liabilities in inactive markets . the carrying value of our long-term debt approximates fair value . capital expenditures capital expenditures were $ 37.2 million for the year ended december 25 , 2020 , primarily attributable to the expansion of our south korea , singapore , czech republic and certain u.s. facilities . off-balance sheet arrangements during the periods presented , we do not have unconsolidated entities or financial partnerships , such as entities often referred to as structured finance or special purpose entities , which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes . in conjunction with the sale of our products in the ordinary course of business , we provide standard indemnification against certain liabilities to our customers , which may include claims of losses by their own customers resulting out of property damages , bodily injuries or deaths , or infringement of intellectual property rights by our products . our potential liability arising out of intellectual property infringement claims by any third party is generally uncapped . as of december 25 , 2020 , we have not incurred any significant costs to defend lawsuits or settle claims related to these indemnification arrangements . as a result , we believe the estimated fair value of these arrangements is minimal . 40 contractual obligations other than operating leases for certain equipment and real estate and purchase order commitments primarily for inventory , we have no off-balance sheet transactions or similar instruments and , other than the arrangements described

cash flows replace_table_token_14_th our primary cash inflows and outflows were as follows : we generated net cash from operating activities of $ 97.3 million in fiscal year 2020 , compared to $ 121.0 million in fiscal year 2019. the $ 23.7 million decrease was driven by a decrease of $ 120.2 million in the net change from operating assets and liabilities offset by an increase of $ 8.4 million in non-cash items and by an increase of $ 88.1 million in net income . the major contributors to the net change in operating assets and liabilities , net of effects of acquisition , in fiscal year 2020 were as follows : o accounts receivable increased $ 32.7 million primarily due to the increase in revenues in fiscal 2020 and the timing of collections . o inventories increased $ 8.0 million due primarily to the customer demand outlook in 2021. o accounts payable decreased $ 12.6 million , accrued compensation and related benefits increased $ 9.7 million , and other liabilities decreased $ 7.4 million , primarily due to the timing of payments . cash used in investing activities was $ 29.8 million in fiscal year 2020 compared to $ 49.2 million in fiscal year 2019. during fiscal year 2020 , net cash used for investing activities primarily consisted of $ 36.4 million for purchases of property , plant and equipment , offset by $ 6.6 million in proceeds from insurance related to the cinos korea fire in 2018. during fiscal year 2019 , net cash used for investing activities primarily consisted of $ 29.9 million , net of cash acquired , for the dms acquisition and $ 26.3 million for purchases of property , plant and equipment . cash used in financing activities was $ 31.1 million in fiscal year 2020 compared to cash used by financing activities of $ 53.4 million in fiscal year 2019. during fiscal year 2020 , net cash used in financing activities primarily consisted of $ 28.8 million net of debt repayments and $ 1.5 million of taxes paid upon the vesting of restricted stock units .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows replace_table_token_14_th our primary cash inflows and outflows were as follows : we generated net cash from operating activities of $ 97.3 million in fiscal year 2020 , compared to $ 121.0 million in fiscal year 2019. the $ 23.7 million decrease was driven by a decrease of $ 120.2 million in the net change from operating assets and liabilities offset by an increase of $ 8.4 million in non-cash items and by an increase of $ 88.1 million in net income . the major contributors to the net change in operating assets and liabilities , net of effects of acquisition , in fiscal year 2020 were as follows : o accounts receivable increased $ 32.7 million primarily due to the increase in revenues in fiscal 2020 and the timing of collections . o inventories increased $ 8.0 million due primarily to the customer demand outlook in 2021. o accounts payable decreased $ 12.6 million , accrued compensation and related benefits increased $ 9.7 million , and other liabilities decreased $ 7.4 million , primarily due to the timing of payments . cash used in investing activities was $ 29.8 million in fiscal year 2020 compared to $ 49.2 million in fiscal year 2019. during fiscal year 2020 , net cash used for investing activities primarily consisted of $ 36.4 million for purchases of property , plant and equipment , offset by $ 6.6 million in proceeds from insurance related to the cinos korea fire in 2018. during fiscal year 2019 , net cash used for investing activities primarily consisted of $ 29.9 million , net of cash acquired , for the dms acquisition and $ 26.3 million for purchases of property , plant and equipment . cash used in financing activities was $ 31.1 million in fiscal year 2020 compared to cash used by financing activities of $ 53.4 million in fiscal year 2019. during fiscal year 2020 , net cash used in financing activities primarily consisted of $ 28.8 million net of debt repayments and $ 1.5 million of taxes paid upon the vesting of restricted stock units .
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 Suspicious Activity Report : we now report results for two segments : products and services . we ship a majority of our products and provide most of our services to u.s. registered customers with locations both in and outside the u.s. in addition to u.s. manufacturing and service operations , we manufacture products and provide parts cleaning and other related services in our asian and european facilities to support local and u.s. based customers . over the long-term , we believe the semiconductor market we serve will continue to grow due to multi-year industry inflections creating demand from a broad range of drivers including mobile demand driven by 5g , new cpu architectures which are enabling higher performance servers , and cloud , ai and machine learnings . we also believe that semiconductor equipment oems are increasingly relying on partners like uct to fulfill their expanding capacity requirements . critical accounting estimates our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the united states , which require us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenue and expenses and related disclosure at the date of our consolidated financial statements . on an on-going basis , we evaluate our estimates and judgments , including those related to inventories , income taxes , business combinations and goodwill , intangible assets and long-lived assets . we base our estimates and judgments on historical experience and on various other factors that we believe to be reasonable under the circumstances , the results of which form the basis of our judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates . we consider certain accounting policies related to revenue recognition , inventory valuation , accounting for income taxes , business combinations , valuation of goodwill , intangible assets and long-lived assets to be critical policies due to the estimates and judgments involved in each . 31 revenue recognition our revenues for fiscal years 2020 , 2019 and 2018 were highly concentrated in a small number of oem customers in the semiconductor capital equipment industry . we recognize revenue when promised goods or services ( performance obligations ) are transferred to a customer in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services . we perform the following five steps to determine when to recognize revenue : 1. identification of the contract ( s ) with customers – our standard arrangement for our customers includes a signed purchase order or contract , no right of return of delivered products and no customer acceptance provisions . we assess collectability based on the creditworthiness of the customer and past transaction history . we perform on-going credit evaluations of , and do not require collateral from , our customers . 2. identification of the performance obligations in the contract – our performance obligations include delivery of promised goods or services . 3. determination of the transaction price – the transaction price of our contracts with customers may include both fixed and variable consideration . we include variable consideration in the transaction price to the extent that it is probable that a significant reversal of revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved . we generally invoice our customers upon shipment of goods and completion of services with payment due within 30 to 90 days after issuance . 4. allocation of the transaction price to the performance obligations in the contract – for contracts that contain multiple performance obligations , we allocate the transaction price to the performance obligations on a relative standalone selling price basis . for contracts with multiple performance obligations , we allocate the contract 's transaction price to each performance obligation using the relative standalone selling price of each distinct good or service in the contract . 5. recognition of revenue when , or as , a performance obligation is satisfied – we recognize revenue from products sold at a point in time when we have satisfied our performance obligation by transferring control of the goods to the customer , which typically occurs at shipment or delivery . revenue from service agreements is recognized upon completion of the services . inventory valuation we write down the carrying value of our inventory to net realizable value for estimated obsolescence or unmarketable inventory in an amount equal to the difference between the cost of inventory and its estimated realizable value based upon inventory age and assumptions about future demand and market conditions . we assess the valuation of all inventories , including raw materials , work-in-process , finished goods and spare parts on a periodic basis . obsolete inventory or inventory in excess of our estimated usage is written down to its estimated market value less costs to sell , if less than its cost . the inventory write-downs are recorded as an inventory valuation allowance established on the basis of obsolete inventory or specifically identified inventory in excess of established usage . inherent in our estimates of demand and market value in determining inventory valuation are estimates related to economic trends , future demand for our products and technological obsolescence of our products . if actual demand and market conditions are less favorable than our projections , additional inventory write-downs may be required . if the inventory value is written down to its net realizable value , and subsequently there is an increased demand for the inventory at a higher value , the increased value of the inventory is not realized until the inventory is sold either as a component of a subsystem or as separate inventory . story_separator_special_tag as of december 25 , 2020 , the total u.s. and foreign valuation allowances for deferred tax assets were $ 23.1 million and $ 2.5 million , respectively . our ability to realize deferred tax assets depends on our ability to generate sufficient future taxable income . in assessing our future taxable income , we have considered all sources of future taxable income available to realize our deferred tax assets , including the taxable income from future reversal of existing temporary differences , carry forwards , and tax-planning strategies . if changes occur in the assumptions underlying our tax planning strategies or in the scheduling of the reversal of our deferred tax liabilities , the valuation allowance may need to be adjusted in the future . the company remitted foreign earnings from its subsidiary in singapore in 2020. the company has no plans to remit foreign earnings other than possibly from its singapore subsidiary . we may change our intent to reinvest certain of our undistributed foreign earnings indefinitely , which could require us to accrue or pay taxes on some or all of these undistributed earnings . liquidity and capital resources cash and cash equivalents the following table summarizes our cash and cash equivalents : replace_table_token_13_th the increase in cash and cash equivalents in fiscal year 2020 compared to fiscal year 2019 was primarily due to the cash provided by operating activities of $ 97.3 million , partially offset by the $ 36.4 million used for purchases of property , plant and equipment and principal payments on bank borrowings and finance leases of $ 28.8 million . 37 story_separator_special_tag roman ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > 5 , 2020 . the letter of credit facility has an initial available commitment of $ 50.0 million and a maturity date of august 27 , 2023. we pay quarterly in arrears a fee equal to 2.5 % ( subject to certain adjustments as per the term loans ) of the dollar equivalent of all outstanding letters of credit , and a fronting fee equal to 0.125 % of the undrawn and unexpired amount of each letter of credit . as of december 25 , 2020 , we had $ 2.4 million outstanding letters of credit with beneficiaries such as landlords of certain facility leases and government agencies making up the majority of the outstanding balance . the remaining available commitments are $ 47.6 million on the letter of credit facility and $ 65.0 million on the revolving credit facility . in fiscal 2020 , cinos china amended its existing credit agreement and entered into two additional credit agreements with a local bank that provide revolving credit facilities for a total available commitment of $ 3.5 million with various maturity dates through september 23 , 2022 and interest rates ranging from 1.9 % to 4.1 % . as of december 25 , 2020 , cinos china had an outstanding amount of $ 1.9 million with an interest rates of 2.1 % to 4.1 % under these credit agreements . cinos korea has credit agreements with various banks that provide revolving credit facilities for a total available commitment of 1.6 billion korean won ( approximately $ 1.4 million ) with annual renewals beginning from april 2021 through june 2021 and interest rates ranging from 1.4 % - 5.4 % . during the fiscal year ended december 25 , 2020 , borrowings under these revolving facilities were insignificant and no amounts were outstanding as of december 25 , 2020 . fds has a credit agreement with a local bank in the czech republic that provides for a revolving credit facility in the aggregate of up to 6.0 million euros . as of december 25 , 2020 , fds had no outstanding amount under its revolving credit facility . as of december 25 , 2020 , our total bank debt was $ 269.0 million , net of unamortized debt issuance costs of $ 7.9 million . as of december 25 , 2020 , we had $ 65.0 million , $ 7.3 million ( 6.0 million euros ) and $ 1.6 million available to draw from our revolving credit facilities in the u.s. , czech republic and china , respectively . the fair value of our long-term debt was based on level 2 inputs , and fair value was determined using quoted prices for similar liabilities in inactive markets . the carrying value of our long-term debt approximates fair value . capital expenditures capital expenditures were $ 37.2 million for the year ended december 25 , 2020 , primarily attributable to the expansion of our south korea , singapore , czech republic and certain u.s. facilities . off-balance sheet arrangements during the periods presented , we do not have unconsolidated entities or financial partnerships , such as entities often referred to as structured finance or special purpose entities , which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes . in conjunction with the sale of our products in the ordinary course of business , we provide standard indemnification against certain liabilities to our customers , which may include claims of losses by their own customers resulting out of property damages , bodily injuries or deaths , or infringement of intellectual property rights by our products . our potential liability arising out of intellectual property infringement claims by any third party is generally uncapped . as of december 25 , 2020 , we have not incurred any significant costs to defend lawsuits or settle claims related to these indemnification arrangements . as a result , we believe the estimated fair value of these arrangements is minimal . 40 contractual obligations other than operating leases for certain equipment and real estate and purchase order commitments primarily for inventory , we have no off-balance sheet transactions or similar instruments and , other than the arrangements described

