in conjunction with our plans to continue to reduce costs , we expect to continue our real estate rationalization efforts and incur additional costs in 2021. additionally , as discussed further elsewhere herein , we are tracking pandemic impacts such as : ( i ) increases in certain revenue streams and decreases in others ( including late fee revenue ) , ( ii ) increases in allowances for credit losses each quarter since the start of the pandemic , ( iii ) increase in overtime expenses and ( iv ) delays in our cost transformation initiatives . thus far , these changes have not materially impacted our financial performance or financial position . this could change , however , if the pandemic intensifies or economic conditions deteriorate . the impact of the pandemic during 2021 will materially depend on additional steps that we may take in response to the pandemic and various events outside of our control , including the pace of vaccinations worldwide , the length and severity of the health crisis and economic slowdown , actions taken by governmental agencies or legislative bodies , and the impact of those events on our employees , suppliers and customers . for additional information , see the risk factor disclosures set forth or referenced in item 1a of part ii of this report . 35 for additional information on the impacts of the pandemic , see the remainder of this item , including `` —liquidity and capital resources — overview of sources and uses of cash , `` and `` — pension and post-retirement benefit obligations . `` reporting segments our reporting segments are organized by customer demographics . at december 31 , 2020 , they consisted of : international and global accounts management ( `` igam `` ) segment . under our igam segment , we provided our products and services to approximately 200 global enterprise customers and three operating regions : europe middle east and africa , latin america and asia pacific ; enterprise segment . under our enterprise segment , we provided our products and services to large and regional domestic and global enterprises , as well as the public sector , which includes the u.s. federal government , state and local governments and research and education institutions ; small and medium business ( `` smb `` ) segment . under our smb segment , we provided our products and services to small and medium businesses directly and indirectly through our channel partners ; wholesale segment . under our wholesale segment , we provided our products and services to a wide range of other communication providers across the wireline , wireless , cable , voice and data center sectors . our wholesale customers range from large global telecom providers to small regional providers ; and consumer segment . under our consumer segment , we provided our products and services to residential customers . additionally , certain state support payments , connect america fund ( “ caf ” ) federal support revenue , and other revenue from leasing and subleasing , including 2018 rental income associated with the 2017 failed-sale-leaseback are reported in our consumer segment as regulatory revenue . at december 31 , 2020 , we served 4.5 million consumer broadband subscribers . our methodology for counting consumer broadband subscribers may not be comparable to those of other companies . see note 16—segment information for additional information . at december 31 , 2020 , we categorized our products and services revenue among the following four categories for the igam , enterprise , smb and wholesale segments : ip and data services , which include primarily vpn data networks , ethernet , ip , content delivery and other ancillary services ; transport and infrastructure , which includes wavelengths , dark fiber , private line , colocation and data center services , including cloud , hosting and application management solutions , professional services and other ancillary services ; voice and collaboration , which includes primarily local and long-distance voice , including wholesale voice , and other ancillary services , as well as voip services ; and it and managed services , which include information technology services and managed services , which may be purchased in conjunction with our other network services . at december 31 , 2020 , we categorized our products and services revenue among the following four categories for the consumer segment : broadband , which includes high speed , fiber-based and lower speed dsl broadband services ; voice , which include local and long-distance services ; 36 regulatory revenue , which consist of ( i ) caf and other support payments designed to reimburse us for various costs related to certain telecommunications services and ( ii ) other operating revenue from the leasing and subleasing of space ; and other , which include retail video services ( including our linear tv services ) , professional services and other ancillary services . additionally , beginning in the first quarter of 2021 , we plan on making changes to the product category reporting to better reflect product life cycles and the company 's marketing approach . these changes will include both the creation of new product categories and the realignment of products and services within previously reported product categories . for business segment revenue , we will report the following product categories : compute & application services , ip & data services , fiber infrastructure services and voice & other , by customer-facing sales channel . for mass markets segment revenue , we will report the following product categories : consumer broadband , small business group ( `` sbg `` ) broadband , voice & other and caf phase ii . story_separator_special_tag small and medium business segment replace_table_token_14_th year ended december 31 , 2020 compared to the same periods ended december 31 , 2019 and december 31 , 2018 segment revenue decreased $ 170 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased $ 191 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to the following factors : for both periods , voice and collaboration revenue decreased due to continued declines in demand for traditional voice tdm services ; for the year ended 2020 compared to 2019 , transport and infrastructure revenue decreased primarily due to continued reductions in demand for our low-speed broadband , and for the year ended 2019 compared to 2018 , transport and infrastructure declined primarily due to lower equipment sales and lower demand for broadband services ; and for the year ended 2020 compared to 2019 , ip and data services decreased due to lower vpn revenue and customers transitioning from ethernet solutions to lower-rate ip services , and for the year ended 2019 compared to 2018 , ip and data services increased due to strength in vpn revenue . 44 segment expenses decreased by $ 70 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased $ 48 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to : for the year ended 2020 compared to 2019 due to lower cost of sales in line with lower revenue and lower headcount related costs ; and for the year ended 2019 compared to 2018 due to lower network costs driven by declines in customer demand , and network expense synergies . segment adjusted ebitda as a percentage of revenue was 69 % for the years ended december 31 , 2020 , 2019 and 2018. wholesale segment replace_table_token_15_th year ended december 31 , 2020 compared to the same periods ended december 31 , 2019 and december 31 , 2018 segment revenue decreased $ 265 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased $ 318 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to the following factors : for both periods , transport and infrastructure revenue decreased due to continued declines in traditional private line services and customer network consolidation and grooming efforts ; for both periods , voice and collaboration revenue decreased due to market rate compression and lower customer volumes ; and for the year ended 2020 compared to 2019 , ip and data services decreased due to customer churn . segment expenses decreased by $ 37 million for the year ended december 31 , 2020 compared to december 31 , 2019 , primarily due to lower cost of sales and continued network grooming efforts , partially offset by higher employee related costs , and decreased by $ 36 million for the year ended december 31 , 2019 compared to december 31 , 2018 , due to lower cost of sales and network grooming and operating synergies . segment adjusted ebitda as a percentage of revenue was 85 % , 85 % and 86 % for the year ended december 31 , 2020 , 2019 and 2018 , respectively . 45 consumer segment replace_table_token_16_th year ended december 31 , 2020 compared to the same periods ended december 31 , 2019 and december 31 , 2018 segment revenue decreased by $ 266 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased by $ 477 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to the following factors : for both periods , decreases in our voice and other revenue were driven by continued legacy voice customer losses and our de-emphasis of prism video product ; for the year ended december 31 , 2019 , regulatory revenue declined due to the derecognition of the failed-sales-leaseback described in our prior reports . for the year ended december 31 , 2020 , regulatory revenue declined due to lower state support revenue ; for both periods , an increase in broadband revenue driven by increased demand for higher-speed services and higher rates ; segment expenses decreased by $ 79 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased by $ 255 million for the year ended december 31 , 2019 compared to december 31 , 2018. expenses decreased for both periods due to lower prism content costs , headcount related costs and marketing expenses . segment adjusted ebitda as a percentage of revenue was 88 % , 87 % and 84 % for the year ended december 31 , 2020 , 2019 and 2018 , respectively . critical accounting policies and estimates our consolidated financial statements are prepared in accordance with accounting principles that are generally accepted in the united states . the preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of our assets , liabilities , revenue and expenses . we have identified certain policies and estimates as critical to our business operations and the understanding of our past or present results of operations related to ( i ) goodwill , customer relationships and other intangible assets ; ( ii ) pension and post-retirement benefits ; ( iii ) loss contingencies and litigation reserves and ( iv ) income taxes . these policies and estimates are considered critical because they had a material impact , or they have the potential to have a material impact , on our consolidated financial statements and because they require us to make significant judgments , assumptions or estimates . we believe that the estimates , judgments and assumptions made when accounting for the items described below were

debt and other financing arrangements subject to market conditions , we expect to continue to issue debt securities from time to time in the future to refinance a substantial portion of our maturing debt , including issuing debt securities of certain of our subsidiaries to refinance their maturing debt to the extent feasible . the availability , interest rate and other terms of any new borrowings will depend on the ratings assigned by credit rating agencies , among other factors . 52 as of the date of this report , the credit ratings for the senior secured and unsecured debt of lumen technologies , level 3 financing , inc. and qwest corporation were as follows : borrower moody 's investors service , inc. standard & poor 's fitch ratings lumen technologies : unsecured b2 bb- bb secured ba3 bbb- bb+ level 3 financing , inc. : unsecured ba3 bb bb secured ba1 bbb- bbb- qwest corporation : unsecured ba2 bbb- bb+ our credit ratings are reviewed and adjusted from time to time by the rating agencies . any future downgrades of the senior unsecured or secured debt ratings of us or our subsidiaries could impact our access to capital or further raise our borrowing costs . see `` risk factors—financial risks '' in item 1a of part i of this report . net operating loss carryforwards as of december 31 , 2020 , lumen technologies had approximately $ 5.1 billion of federal net operating loss carryforwards . ( `` nols '' ) , which for u.s. federal income tax purposes can be used to offset future taxable income . these nols are primarily related to federal nols we acquired through the level 3 acquisition on november 1 , 2017 and are subject to limitations under section 382 of the internal revenue code and related u.s. treasury department regulations .


 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.
     ```debt and other financing arrangements subject to market conditions , we expect to continue to issue debt securities from time to time in the future to refinance a substantial portion of our maturing debt , including issuing debt securities of certain of our subsidiaries to refinance their maturing debt to the extent feasible . the availability , interest rate and other terms of any new borrowings will depend on the ratings assigned by credit rating agencies , among other factors . 52 as of the date of this report , the credit ratings for the senior secured and unsecured debt of lumen technologies , level 3 financing , inc. and qwest corporation were as follows : borrower moody 's investors service , inc. standard & poor 's fitch ratings lumen technologies : unsecured b2 bb- bb secured ba3 bbb- bb+ level 3 financing , inc. : unsecured ba3 bb bb secured ba1 bbb- bbb- qwest corporation : unsecured ba2 bbb- bb+ our credit ratings are reviewed and adjusted from time to time by the rating agencies . any future downgrades of the senior unsecured or secured debt ratings of us or our subsidiaries could impact our access to capital or further raise our borrowing costs . see `` risk factors—financial risks '' in item 1a of part i of this report . net operating loss carryforwards as of december 31 , 2020 , lumen technologies had approximately $ 5.1 billion of federal net operating loss carryforwards . ( `` nols '' ) , which for u.s. federal income tax purposes can be used to offset future taxable income . these nols are primarily related to federal nols we acquired through the level 3 acquisition on november 1 , 2017 and are subject to limitations under section 382 of the internal revenue code and related u.s. treasury department regulations .
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 Suspicious Activity Report : in conjunction with our plans to continue to reduce costs , we expect to continue our real estate rationalization efforts and incur additional costs in 2021. additionally , as discussed further elsewhere herein , we are tracking pandemic impacts such as : ( i ) increases in certain revenue streams and decreases in others ( including late fee revenue ) , ( ii ) increases in allowances for credit losses each quarter since the start of the pandemic , ( iii ) increase in overtime expenses and ( iv ) delays in our cost transformation initiatives . thus far , these changes have not materially impacted our financial performance or financial position . this could change , however , if the pandemic intensifies or economic conditions deteriorate . the impact of the pandemic during 2021 will materially depend on additional steps that we may take in response to the pandemic and various events outside of our control , including the pace of vaccinations worldwide , the length and severity of the health crisis and economic slowdown , actions taken by governmental agencies or legislative bodies , and the impact of those events on our employees , suppliers and customers . for additional information , see the risk factor disclosures set forth or referenced in item 1a of part ii of this report . 35 for additional information on the impacts of the pandemic , see the remainder of this item , including `` —liquidity and capital resources — overview of sources and uses of cash , `` and `` — pension and post-retirement benefit obligations . `` reporting segments our reporting segments are organized by customer demographics . at december 31 , 2020 , they consisted of : international and global accounts management ( `` igam `` ) segment . under our igam segment , we provided our products and services to approximately 200 global enterprise customers and three operating regions : europe middle east and africa , latin america and asia pacific ; enterprise segment . under our enterprise segment , we provided our products and services to large and regional domestic and global enterprises , as well as the public sector , which includes the u.s. federal government , state and local governments and research and education institutions ; small and medium business ( `` smb `` ) segment . under our smb segment , we provided our products and services to small and medium businesses directly and indirectly through our channel partners ; wholesale segment . under our wholesale segment , we provided our products and services to a wide range of other communication providers across the wireline , wireless , cable , voice and data center sectors . our wholesale customers range from large global telecom providers to small regional providers ; and consumer segment . under our consumer segment , we provided our products and services to residential customers . additionally , certain state support payments , connect america fund ( “ caf ” ) federal support revenue , and other revenue from leasing and subleasing , including 2018 rental income associated with the 2017 failed-sale-leaseback are reported in our consumer segment as regulatory revenue . at december 31 , 2020 , we served 4.5 million consumer broadband subscribers . our methodology for counting consumer broadband subscribers may not be comparable to those of other companies . see note 16—segment information for additional information . at december 31 , 2020 , we categorized our products and services revenue among the following four categories for the igam , enterprise , smb and wholesale segments : ip and data services , which include primarily vpn data networks , ethernet , ip , content delivery and other ancillary services ; transport and infrastructure , which includes wavelengths , dark fiber , private line , colocation and data center services , including cloud , hosting and application management solutions , professional services and other ancillary services ; voice and collaboration , which includes primarily local and long-distance voice , including wholesale voice , and other ancillary services , as well as voip services ; and it and managed services , which include information technology services and managed services , which may be purchased in conjunction with our other network services . at december 31 , 2020 , we categorized our products and services revenue among the following four categories for the consumer segment : broadband , which includes high speed , fiber-based and lower speed dsl broadband services ; voice , which include local and long-distance services ; 36 regulatory revenue , which consist of ( i ) caf and other support payments designed to reimburse us for various costs related to certain telecommunications services and ( ii ) other operating revenue from the leasing and subleasing of space ; and other , which include retail video services ( including our linear tv services ) , professional services and other ancillary services . additionally , beginning in the first quarter of 2021 , we plan on making changes to the product category reporting to better reflect product life cycles and the company 's marketing approach . these changes will include both the creation of new product categories and the realignment of products and services within previously reported product categories . for business segment revenue , we will report the following product categories : compute & application services , ip & data services , fiber infrastructure services and voice & other , by customer-facing sales channel . for mass markets segment revenue , we will report the following product categories : consumer broadband , small business group ( `` sbg `` ) broadband , voice & other and caf phase ii . story_separator_special_tag small and medium business segment replace_table_token_14_th year ended december 31 , 2020 compared to the same periods ended december 31 , 2019 and december 31 , 2018 segment revenue decreased $ 170 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased $ 191 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to the following factors : for both periods , voice and collaboration revenue decreased due to continued declines in demand for traditional voice tdm services ; for the year ended 2020 compared to 2019 , transport and infrastructure revenue decreased primarily due to continued reductions in demand for our low-speed broadband , and for the year ended 2019 compared to 2018 , transport and infrastructure declined primarily due to lower equipment sales and lower demand for broadband services ; and for the year ended 2020 compared to 2019 , ip and data services decreased due to lower vpn revenue and customers transitioning from ethernet solutions to lower-rate ip services , and for the year ended 2019 compared to 2018 , ip and data services increased due to strength in vpn revenue . 44 segment expenses decreased by $ 70 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased $ 48 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to : for the year ended 2020 compared to 2019 due to lower cost of sales in line with lower revenue and lower headcount related costs ; and for the year ended 2019 compared to 2018 due to lower network costs driven by declines in customer demand , and network expense synergies . segment adjusted ebitda as a percentage of revenue was 69 % for the years ended december 31 , 2020 , 2019 and 2018. wholesale segment replace_table_token_15_th year ended december 31 , 2020 compared to the same periods ended december 31 , 2019 and december 31 , 2018 segment revenue decreased $ 265 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased $ 318 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to the following factors : for both periods , transport and infrastructure revenue decreased due to continued declines in traditional private line services and customer network consolidation and grooming efforts ; for both periods , voice and collaboration revenue decreased due to market rate compression and lower customer volumes ; and for the year ended 2020 compared to 2019 , ip and data services decreased due to customer churn . segment expenses decreased by $ 37 million for the year ended december 31 , 2020 compared to december 31 , 2019 , primarily due to lower cost of sales and continued network grooming efforts , partially offset by higher employee related costs , and decreased by $ 36 million for the year ended december 31 , 2019 compared to december 31 , 2018 , due to lower cost of sales and network grooming and operating synergies . segment adjusted ebitda as a percentage of revenue was 85 % , 85 % and 86 % for the year ended december 31 , 2020 , 2019 and 2018 , respectively . 45 consumer segment replace_table_token_16_th year ended december 31 , 2020 compared to the same periods ended december 31 , 2019 and december 31 , 2018 segment revenue decreased by $ 266 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased by $ 477 million for the year ended december 31 , 2019 compared to december 31 , 2018 , primarily due to the following factors : for both periods , decreases in our voice and other revenue were driven by continued legacy voice customer losses and our de-emphasis of prism video product ; for the year ended december 31 , 2019 , regulatory revenue declined due to the derecognition of the failed-sales-leaseback described in our prior reports . for the year ended december 31 , 2020 , regulatory revenue declined due to lower state support revenue ; for both periods , an increase in broadband revenue driven by increased demand for higher-speed services and higher rates ; segment expenses decreased by $ 79 million for the year ended december 31 , 2020 compared to december 31 , 2019 and decreased by $ 255 million for the year ended december 31 , 2019 compared to december 31 , 2018. expenses decreased for both periods due to lower prism content costs , headcount related costs and marketing expenses . segment adjusted ebitda as a percentage of revenue was 88 % , 87 % and 84 % for the year ended december 31 , 2020 , 2019 and 2018 , respectively . critical accounting policies and estimates our consolidated financial statements are prepared in accordance with accounting principles that are generally accepted in the united states . the preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of our assets , liabilities , revenue and expenses . we have identified certain policies and estimates as critical to our business operations and the understanding of our past or present results of operations related to ( i ) goodwill , customer relationships and other intangible assets ; ( ii ) pension and post-retirement benefits ; ( iii ) loss contingencies and litigation reserves and ( iv ) income taxes . these policies and estimates are considered critical because they had a material impact , or they have the potential to have a material impact , on our consolidated financial statements and because they require us to make significant judgments , assumptions or estimates . we believe that the estimates , judgments and assumptions made when accounting for the items described below were

