specific actions have included standardizing governance processes for client implementations , account management , and incident response , centralizing and enhancing the salesforce , restructuring to leverage a shared services model and addressing spans and layers , instituting a global it command center , continuing to make progress on the data center consolidation plan , among others . these actions have resulted in improvements across the “ growth ” , “ quality ” , and “ efficiency ” pillars . for example , we have shown a significant reduction of the number of technology-related incidents and outages , improvements in associate satisfaction survey results , and increases in service level agreement payments from customers . significant 2019 actions business acquisition – in january 2019 , we acquired health solution plus , a software provider of healthcare payer administration solutions for a total base consideration of $ 90 million . this acquisition is part of the commercial industries segment . refer to note 5 – business acquisition to the consolidated financial statements for additional information regarding this acquisition . disposition – in february 2019 , we completed the sale of a portfolio of select standalone customer care contracts for $ 25 million . the business sold represented $ 36 million and $ 439 million of revenues in 2019 and 2018 , respectively . refer to note 4 – divestiture to the consolidated financial statements for additional information regarding this sale . litigation settlement – in february 2019 , we reached a settlement agreement and release with the state of texas ( `` state `` ) and the texas department of health and human services , which was amended in may 2019 ( `` texas agreement `` ) . pursuant to the terms of the texas agreement , the company was required to pay the state $ 236 million , of which $ 118 million was paid in 2019 and the remaining $ 118 million paid in january 2020. refer to note 17 – contingencies and litigation to the consolidated financial statements for additional information regarding this litigation settlement . goodwill impairment – during 2019 , we performed interim goodwill impairment assessments for all our reporting units which resulted in a cumulative impairment charge of $ 2.0 billion . refer to note 9 – goodwill and intangible assets , net to the consolidated financial statements for details regarding the facts and circumstances that led to this impairment charge . covid-19 outbreak throughout the covid-19 pandemic , we have continued to provide critical and best-in-class services to our customers and their end-users , while ensuring the health and safety of our associates . to address the potential impact to our business over the near-term , our business continuity team established a proactive plan in the first quarter of 2020 that has continued throughout the year , which includes : cndt 2020 annual report 34 supporting our associates with a number of specific initiatives , including making improvements to our policies to extend short term disability , providing extra supplemental sick leave coverage and introducing a hardship leave policy . increased sanitation and social distancing for required on-site essential associates . at the end of 2020 , approximately 75 % of our workforce had shifted to work-from-home . we will start a slow and measured approach to bring associates back to our offices , as appropriate . this will be a phased process based on the specific covid-19 conditions in certain geographies , as well as , business requirements . as the crisis continues , we may revise our approach to these initiatives or take additional actions to meet the needs of our employees , customers and their end-users as well as the company 's needs and to continue to provide our mission-critical services and solutions . for the year ended december 31 , 2020 , we estimated an $ 85 million unfavorable impact on revenue was attributable to the covid-19 pandemic or covid-19 related effects . in addition to reductions in certain direct costs , we also achieved certain temporary cost savings associated with our cost reduction program which were estimated to be $ 59 million for the year ended december 31 , 2020. these temporary cost actions were primarily driven by pandemic related furloughs , reduced travel , vendor and facilities spend . the estimated effect of the covid-19 pandemic on our pre-tax income , which includes the net revenue impact , incremental costs and benefit from temporary cost savings was a reduction of $ 23 million for the year ended december 31 , 2020. refer to the discussion of results of operations below for additional discussion of covid-19 pandemic related effects . critical accounting policies the preparation of financial statements in conformity with accounting principles generally accepted in the united states of america ( u.s. gaap ) requires us to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes thereto . in preparing our consolidated financial statements , we have made our best estimates and judgments of certain amounts included in the consolidated financial statements giving due consideration to materiality . however , application of these accounting policies involves the exercise of judgment and use of assumptions as to future uncertainties and , as a result , actual results could differ from these estimates . senior management has discussed the development and selection of the critical accounting policies , estimates and related disclosures included herein with the audit committee of the board of directors . we consider these as critical to understanding our consolidated financial statements , as their application places the most significant demands on management 's judgment , since financial reporting results rely on estimates of the effects of matters that are inherently uncertain . in instances where different estimates could have reasonably been used , we disclose the impact of these different estimates on our operations . story_separator_special_tag refer to note 17 – contingencies and litigation to the consolidated financial statements for additional information . other ( income ) expenses , net other ( income ) expenses , net primarily includes foreign currency transaction losses ( gains ) , interest income and the student loan business shut-down costs . income taxes the 2020 effective tax rate was 15.1 % , compared to 8.2 % for 2019. the 2020 rate was lower than the u.s. statutory rate of 21 % primarily due to geographic mix of income , tax settlements and valuation allowances partially offset by tax credits . the 2019 rate was lower than the statutory rate , primarily due to the goodwill impairment charge being partially non-deductible for tax and the geographic mix of income , partially offset by u.s. federal tax credits and tax benefits recognized on the sale of a portfolio of select standalone customer care contracts to skyview capital llc . excluding the impact of amortization , restructuring and discrete tax items the normalized effective tax rate for 2020 was 27.3 % . the normalized effective tax rate of 30.0 % for 2019 , was predominately impacted by the exclusion of the impact of goodwill impairment , divestitures , the texas litigation reserve , amortization and restructuring . the decline in the normalized effective tax rate from 2019 to 2020 is attributable to an increase in tax credits , favorable changes to certain u.s. tax rules and geographic mix of income in 2020. the company believes it is reasonably possible that unrecognized tax benefits of approximately $ 14 million will reverse within 12 months due to anticipated audit settlements . on march 27 , 2020 , the coronavirus aid , relief , and economic security act ( the cares act ) was signed into law . the cares act provides for various tax relief and tax incentive measures . the payment of the employer share of payroll taxes for the remainder of 2020 was deferred to 2021 and 2022 under the cares act , which provided a temporary operating cash flow benefit . the cares act also retroactively allowed for the immediate recovery of qualified improvement property ( qip ) costs rather than over a 39 year recovery period , resulting in additional tax deductions for 2018 and 2019. lastly , the cares act provided an elective five-year carry back for net operating losses ( nols ) incurred in taxable years starting after december 31 , 2017 , and before january 1 , 2021. this allowed the company to carry back the loss it incurred in 2019 to 2018 , resulting in a tax refund . cndt 2020 annual report 41 operations review of segments our financial performance is based on segment profit/ ( loss ) and segment adjusted ebitda for the following three segments : commercial industries , government services , and transportation . other includes our divestitures and our student loan business , which the company exited in the third quarter of 2018. unallocated costs includes it infrastructure costs that are shared by multiple reportable segments , enterprise application costs and certain corporate overhead expenses not directly attributable or allocated to our reportable segments . the section below provides a comparative discussion of our financial performance by segment between the year ended december 31 , 2020 and 2019. as described in note 3 – segment reporting to our consolidated financial statements , in 2020 we realigned our sales organization and certain shared it and other allocated functions and reallocated certain costs that were previously included in the shared it/infrastructure and corporate costs ( now referred to as unallocated costs ) to each of the reportable segments . all prior periods presented have been recast to reflect these changes . we include a discussion of our recast financial performance by segment for the years ended december 31 , 2019 and 2018 immediately after the discussion of financial performance for the years ended december 31 , 2020 and 2019 below . segment performance review - 2020 compared to 2019 replace_table_token_5_th cndt 2020 annual report 42 commercial industries segment revenue commercial industries revenue for 2020 decreased , compared to the prior year , due to an estimated $ 158 million of negative covid-19 impacts as well as prior year lost business . this pressure was partially offset by new business ramp . the covid-19 impact is primarily due to the following year-over-year changes : 1 ) lower transaction processing volumes for clients within our bos service offering , 2 ) reduced workers compensation claims and commercial healthcare claims processing in our commercial healthcare solutions service offering , 3 ) reduced revenue from our hsa offering `` benefitwallet `` ( within our hrls business ) as a result of interest rate reductions , 4 ) slightly reduced call volumes within our cxm service offering across travel and retail clients , and 5 ) covid-19 related delays of new business ramp across multiple clients and offerings . segment profit and adjusted ebitda decreases in the commercial industries segment profit and adjusted ebitda for 2020 , compared to the prior year , were mainly driven by overall revenue declines , one-time items , certain employee costs and the adverse effects of the covid-19 pandemic , partially offset by reductions from the cost savings program . government services segment revenue government services revenue for 2020 increased , compared to the prior year , primarily driven by an estimated $ 149 million of covid-19 related benefit . these increases were partially offset by prior year contract losses . the covid-19 benefit is largely driven by the following year-over-year changes : 1 ) increases in the supplemental nutrition assistance program ( snap ) volumes and pandemic snap volumes , 2 ) an increase in the number of citizens to which we distribute unemployment insurance benefits , and 3 ) incremental additional unemployment insurance benefit distributions provided by the cares act . segment profit and adjusted ebitda increases in the government services

capital resources and liquidity as of december 31 , 2020 and 2019 , total cash and cash equivalents were $ 450 million ( of which approximately $ 150 million was cash in foreign locations ) and $ 496 million ( of which approximately $ 124 million was cash in foreign locations ) , respectively . the company also has a $ 750 million revolving line of credit for its various cash needs , of which $ 7 million has been utilized for letters of credit as of december 31 , 2020. as of december 31 , 2020 , there were $ 1.5 billion outstanding borrowings under our credit agreement of which $ 82 million was due within one year . refer to note 12 – debt to the consolidated financial statements for additional debt information . in january 2019 , we acquired health solution plus , a software provider of healthcare payer administration solutions for a total base consideration of $ 90 million . this acquisition is part of the commercial industries segment . refer to note 5 – business acquisition to the consolidated financial statements for additional information regarding this acquisition . in february 2019 , we reached a settlement agreement and release with the state of texas ( `` state '' ) and the texas department of health and human services, which was amended in may 2019 ( `` texas agreement '' ) .


 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.
     ```capital resources and liquidity as of december 31 , 2020 and 2019 , total cash and cash equivalents were $ 450 million ( of which approximately $ 150 million was cash in foreign locations ) and $ 496 million ( of which approximately $ 124 million was cash in foreign locations ) , respectively . the company also has a $ 750 million revolving line of credit for its various cash needs , of which $ 7 million has been utilized for letters of credit as of december 31 , 2020. as of december 31 , 2020 , there were $ 1.5 billion outstanding borrowings under our credit agreement of which $ 82 million was due within one year . refer to note 12 – debt to the consolidated financial statements for additional debt information . in january 2019 , we acquired health solution plus , a software provider of healthcare payer administration solutions for a total base consideration of $ 90 million . this acquisition is part of the commercial industries segment . refer to note 5 – business acquisition to the consolidated financial statements for additional information regarding this acquisition . in february 2019 , we reached a settlement agreement and release with the state of texas ( `` state '' ) and the texas department of health and human services, which was amended in may 2019 ( `` texas agreement '' ) .
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 Suspicious Activity Report : specific actions have included standardizing governance processes for client implementations , account management , and incident response , centralizing and enhancing the salesforce , restructuring to leverage a shared services model and addressing spans and layers , instituting a global it command center , continuing to make progress on the data center consolidation plan , among others . these actions have resulted in improvements across the “ growth ” , “ quality ” , and “ efficiency ” pillars . for example , we have shown a significant reduction of the number of technology-related incidents and outages , improvements in associate satisfaction survey results , and increases in service level agreement payments from customers . significant 2019 actions business acquisition – in january 2019 , we acquired health solution plus , a software provider of healthcare payer administration solutions for a total base consideration of $ 90 million . this acquisition is part of the commercial industries segment . refer to note 5 – business acquisition to the consolidated financial statements for additional information regarding this acquisition . disposition – in february 2019 , we completed the sale of a portfolio of select standalone customer care contracts for $ 25 million . the business sold represented $ 36 million and $ 439 million of revenues in 2019 and 2018 , respectively . refer to note 4 – divestiture to the consolidated financial statements for additional information regarding this sale . litigation settlement – in february 2019 , we reached a settlement agreement and release with the state of texas ( `` state `` ) and the texas department of health and human services , which was amended in may 2019 ( `` texas agreement `` ) . pursuant to the terms of the texas agreement , the company was required to pay the state $ 236 million , of which $ 118 million was paid in 2019 and the remaining $ 118 million paid in january 2020. refer to note 17 – contingencies and litigation to the consolidated financial statements for additional information regarding this litigation settlement . goodwill impairment – during 2019 , we performed interim goodwill impairment assessments for all our reporting units which resulted in a cumulative impairment charge of $ 2.0 billion . refer to note 9 – goodwill and intangible assets , net to the consolidated financial statements for details regarding the facts and circumstances that led to this impairment charge . covid-19 outbreak throughout the covid-19 pandemic , we have continued to provide critical and best-in-class services to our customers and their end-users , while ensuring the health and safety of our associates . to address the potential impact to our business over the near-term , our business continuity team established a proactive plan in the first quarter of 2020 that has continued throughout the year , which includes : cndt 2020 annual report 34 supporting our associates with a number of specific initiatives , including making improvements to our policies to extend short term disability , providing extra supplemental sick leave coverage and introducing a hardship leave policy . increased sanitation and social distancing for required on-site essential associates . at the end of 2020 , approximately 75 % of our workforce had shifted to work-from-home . we will start a slow and measured approach to bring associates back to our offices , as appropriate . this will be a phased process based on the specific covid-19 conditions in certain geographies , as well as , business requirements . as the crisis continues , we may revise our approach to these initiatives or take additional actions to meet the needs of our employees , customers and their end-users as well as the company 's needs and to continue to provide our mission-critical services and solutions . for the year ended december 31 , 2020 , we estimated an $ 85 million unfavorable impact on revenue was attributable to the covid-19 pandemic or covid-19 related effects . in addition to reductions in certain direct costs , we also achieved certain temporary cost savings associated with our cost reduction program which were estimated to be $ 59 million for the year ended december 31 , 2020. these temporary cost actions were primarily driven by pandemic related furloughs , reduced travel , vendor and facilities spend . the estimated effect of the covid-19 pandemic on our pre-tax income , which includes the net revenue impact , incremental costs and benefit from temporary cost savings was a reduction of $ 23 million for the year ended december 31 , 2020. refer to the discussion of results of operations below for additional discussion of covid-19 pandemic related effects . critical accounting policies the preparation of financial statements in conformity with accounting principles generally accepted in the united states of america ( u.s. gaap ) requires us to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes thereto . in preparing our consolidated financial statements , we have made our best estimates and judgments of certain amounts included in the consolidated financial statements giving due consideration to materiality . however , application of these accounting policies involves the exercise of judgment and use of assumptions as to future uncertainties and , as a result , actual results could differ from these estimates . senior management has discussed the development and selection of the critical accounting policies , estimates and related disclosures included herein with the audit committee of the board of directors . we consider these as critical to understanding our consolidated financial statements , as their application places the most significant demands on management 's judgment , since financial reporting results rely on estimates of the effects of matters that are inherently uncertain . in instances where different estimates could have reasonably been used , we disclose the impact of these different estimates on our operations . story_separator_special_tag refer to note 17 – contingencies and litigation to the consolidated financial statements for additional information . other ( income ) expenses , net other ( income ) expenses , net primarily includes foreign currency transaction losses ( gains ) , interest income and the student loan business shut-down costs . income taxes the 2020 effective tax rate was 15.1 % , compared to 8.2 % for 2019. the 2020 rate was lower than the u.s. statutory rate of 21 % primarily due to geographic mix of income , tax settlements and valuation allowances partially offset by tax credits . the 2019 rate was lower than the statutory rate , primarily due to the goodwill impairment charge being partially non-deductible for tax and the geographic mix of income , partially offset by u.s. federal tax credits and tax benefits recognized on the sale of a portfolio of select standalone customer care contracts to skyview capital llc . excluding the impact of amortization , restructuring and discrete tax items the normalized effective tax rate for 2020 was 27.3 % . the normalized effective tax rate of 30.0 % for 2019 , was predominately impacted by the exclusion of the impact of goodwill impairment , divestitures , the texas litigation reserve , amortization and restructuring . the decline in the normalized effective tax rate from 2019 to 2020 is attributable to an increase in tax credits , favorable changes to certain u.s. tax rules and geographic mix of income in 2020. the company believes it is reasonably possible that unrecognized tax benefits of approximately $ 14 million will reverse within 12 months due to anticipated audit settlements . on march 27 , 2020 , the coronavirus aid , relief , and economic security act ( the cares act ) was signed into law . the cares act provides for various tax relief and tax incentive measures . the payment of the employer share of payroll taxes for the remainder of 2020 was deferred to 2021 and 2022 under the cares act , which provided a temporary operating cash flow benefit . the cares act also retroactively allowed for the immediate recovery of qualified improvement property ( qip ) costs rather than over a 39 year recovery period , resulting in additional tax deductions for 2018 and 2019. lastly , the cares act provided an elective five-year carry back for net operating losses ( nols ) incurred in taxable years starting after december 31 , 2017 , and before january 1 , 2021. this allowed the company to carry back the loss it incurred in 2019 to 2018 , resulting in a tax refund . cndt 2020 annual report 41 operations review of segments our financial performance is based on segment profit/ ( loss ) and segment adjusted ebitda for the following three segments : commercial industries , government services , and transportation . other includes our divestitures and our student loan business , which the company exited in the third quarter of 2018. unallocated costs includes it infrastructure costs that are shared by multiple reportable segments , enterprise application costs and certain corporate overhead expenses not directly attributable or allocated to our reportable segments . the section below provides a comparative discussion of our financial performance by segment between the year ended december 31 , 2020 and 2019. as described in note 3 – segment reporting to our consolidated financial statements , in 2020 we realigned our sales organization and certain shared it and other allocated functions and reallocated certain costs that were previously included in the shared it/infrastructure and corporate costs ( now referred to as unallocated costs ) to each of the reportable segments . all prior periods presented have been recast to reflect these changes . we include a discussion of our recast financial performance by segment for the years ended december 31 , 2019 and 2018 immediately after the discussion of financial performance for the years ended december 31 , 2020 and 2019 below . segment performance review - 2020 compared to 2019 replace_table_token_5_th cndt 2020 annual report 42 commercial industries segment revenue commercial industries revenue for 2020 decreased , compared to the prior year , due to an estimated $ 158 million of negative covid-19 impacts as well as prior year lost business . this pressure was partially offset by new business ramp . the covid-19 impact is primarily due to the following year-over-year changes : 1 ) lower transaction processing volumes for clients within our bos service offering , 2 ) reduced workers compensation claims and commercial healthcare claims processing in our commercial healthcare solutions service offering , 3 ) reduced revenue from our hsa offering `` benefitwallet `` ( within our hrls business ) as a result of interest rate reductions , 4 ) slightly reduced call volumes within our cxm service offering across travel and retail clients , and 5 ) covid-19 related delays of new business ramp across multiple clients and offerings . segment profit and adjusted ebitda decreases in the commercial industries segment profit and adjusted ebitda for 2020 , compared to the prior year , were mainly driven by overall revenue declines , one-time items , certain employee costs and the adverse effects of the covid-19 pandemic , partially offset by reductions from the cost savings program . government services segment revenue government services revenue for 2020 increased , compared to the prior year , primarily driven by an estimated $ 149 million of covid-19 related benefit . these increases were partially offset by prior year contract losses . the covid-19 benefit is largely driven by the following year-over-year changes : 1 ) increases in the supplemental nutrition assistance program ( snap ) volumes and pandemic snap volumes , 2 ) an increase in the number of citizens to which we distribute unemployment insurance benefits , and 3 ) incremental additional unemployment insurance benefit distributions provided by the cares act . segment profit and adjusted ebitda increases in the government services

