we also invest to broaden our product and service capabilities , increase our global client base and industry expertise , tailor our geographic footprint to the needs of our clients , and further scale our end-to-end integrated solutions platform . to this end we have been highly acquisitive in the last several years , including an acquisition in the second half of 2020 of a preferred amazon connect cloud contact center service provider , an acquisition in the first quarter of 2020 of an autonomous customer experience and intelligent automation solutions provider and an acquisition in the fourth quarter of 2019 of a provider of customer care , social media community management , content moderation , technical support and business process solutions for rapidly growing businesses in early stages of their lifecycle . we have extensive expertise in the automotive , communications , financial services , national/federal and state and local government , healthcare , logistics , media and entertainment , e-tail/retail , technology , travel and transportation industries . we serve more than 300 diverse clients globally , including many of the world 's iconic brands , fortune 1000 companies , government agencies , and disruptive growth companies . in march 2020 , the world health organization declared the outbreak of covid-19 as a global pandemic . within weeks of this announcement , travel bans , a state of emergency , quarantines , lockdowns , “ shelter in place ” orders , and business restrictions and shutdowns were issued in most countries where ttec does business . the need to comply with these measures , which came into effect with little notice , impacted our day-to-day operations and disrupted our business in the last month of the first quarter and second quarter of the year . as a result , operations were suspended in some of our ttec engage customer experience delivery sites . business continuity plans were executed to transition as many employees as was reasonably possible to a work from home environment to support the health and well-being of our employees and communities and to provide a stable service delivery platform for our clients . between mid-march and mid-april 2020 , we transitioned over 43,000 employees , or 80 % of our employee population , to a work from home environment . with the easing of some of the government restrictions , those employees who were considered essential and could not operate effectively while remote returned to our brick-and-mortar sites , but most continue to work from home . for those sites that continue to operate , we have taken extensive measures to protect the health and safety of our employees , in accordance with the recommendations and guidelines provided by the world health organization , the u.s. and european centers for disease control and prevention , the u.s. occupational safety association , and local governments in jurisdictions where our customer experience centers are located . although our business experienced the effects of covid-19 in the first half of 2020 , our implementation of business continuity plans , rapid transition of employees to a work from home environment , and the geographic diversification of our delivery centers allowed us to mitigate potentially more severe impacts , and positioned us to support our commercial and public sector clients experiencing significant surge volumes of customer , patient and citizen covid-19 related engagement . our covid-19 related surge work has contributed approximately 12 % of our total revenue for 2020. although approximately 20 % of our pre-covid-19 business was comprised of clients in industries that have been negatively impacted by the pandemic , i.e . automotive , retail and travel and hospitality , the 2020 total revenue derived from these clients has increased approximately 10 % over the prior year period . through the period ended december 31 , 2020 the covid-19 pandemic has not had a material adverse impact on our operational or financial results . while we expect this positive trend to continue and while some of our covid-19 related work has transitioned to more traditional business activities for the same clients , there is uncertainty about our covid-19 surge volumes and our non-covid-19 related business . we can not accurately predict the severity of the economic and operational challenges of a pro-longed covid-19 pandemic on our clients ' businesses and its effect on the magnitude and timing of their buying decisions . further , while to date we have been successful in managing service delivery from our delivery sites that could not be replaced with work from home delivery , unpredictable lockdown decisions in some jurisdictions where we do business may continue to impact our delivery capability with little notice , thus potentially impacting our results of operations in the future . 30 in march 2020 , we launched multiple cost reduction , optimization , and liquidity preservation initiatives to align our expenses with anticipated changes in revenue and increased costs related to the covid-19 pandemic and government mandated restriction measures . we also intensified our cash flow discipline , including working capital management , hiring freezes , cuts in non-essential spending , suspension of merit increases and some incentive programs , deferral of capital expenditures , where possible , and negotiations for rent concessions for those facilities that we were unable to use during the government restrictions related to the covid-19 pandemic . our results of operations for 2020 permitted us to reverse most of the cost austerity measures . with the greater adoption of our work from home solution during the covid-19 pandemic , we also launched a comprehensive review of our global real estate footprint to balance our commitments to physical facilities around the globe against evolving client preferences with respect to traditional physical delivery centers and work from home delivery . considering the continued covid-19 related uncertainties , we continue to remain vigilant in our cost management . story_separator_special_tag 34 income taxes accounting for income taxes requires recognition of deferred tax assets and liabilities for the expected future income tax consequences of transactions that have been included in the consolidated financial statements or tax returns . under this method , deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using tax rates in effect for the year in which the differences are expected to reverse . when circumstances warrant , we assess the likelihood that our net deferred tax assets will more likely than not be recovered from future projected taxable income . we continually review the likelihood that deferred tax assets will be realized in future tax periods under the “ more-likely-than-not ” criteria . in making this judgment , we consider all available evidence , both positive and negative , in determining whether , based on the weight of that evidence , a valuation allowance is required . we follow a two-step approach to recognizing and measuring uncertain tax positions . the first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained on audit . the second step is to estimate and measure the tax benefit as the amount that has a greater than 50 % likelihood of being realized upon ultimate settlement with the tax authority . we evaluate these uncertain tax positions on a quarterly basis . this evaluation is based on the consideration of several factors including changes in facts or circumstances , changes in applicable tax law , and settlement of issues under audit . interest and penalties relating to income taxes and uncertain tax positions are accrued net of tax in the provision for income taxes in the accompanying consolidated statements of comprehensive income ( loss ) . in the future , our effective tax rate could be adversely affected by several factors , many of which are outside our control . our effective tax rate is affected by the proportion of revenue and income before taxes in the various domestic and international jurisdictions in which we operate . further , we are subject to changing tax laws , regulations and interpretations in multiple jurisdictions in which we operate , as well as the requirements , pronouncements and rulings of certain tax , regulatory and accounting organizations . we estimate our annual effective tax rate each quarter based on a combination of actual and forecasted results of subsequent quarters . consequently , significant changes in our actual quarterly or forecasted results may impact the effective tax rate for the current or future periods . impairment of long-lived assets we evaluate the carrying value of property , plant and equipment and definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable . an asset is considered to be impaired when the forecasted undiscounted cash flows of an asset group are estimated to be less than its carrying value . the amount of impairment recognized is the difference between the carrying value of the asset group and its fair value . fair value estimates are based on assumptions concerning the amount and timing of estimated future cash flows and assumed discount rates . goodwill and indefinite-lived intangible assets we evaluate goodwill and indefinite-lived intangible assets for possible impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable . we use a two-step process to assess the realizability of goodwill . the first step , step 0 , is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit . for example , we analyze changes in economic , market and industry conditions , business strategy , cost factors , and financial performance , among others , to determine if there would be a significant decline to the fair value of a particular reporting unit . a qualitative assessment also includes analyzing the excess fair value of a reporting unit over its carrying value from impairment assessments performed in previous years . if the qualitative assessment indicates a stable or improved fair value , no further testing is required . 35 if a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not , or if a reporting unit 's fair value has historically been closer to its carrying value , we will proceed to step 1 testing where we calculate the fair value of a reporting unit based on discounted future probability-weighted cash flows . if step 1 indicates that the carrying value of a reporting unit is in excess of its fair value , we will record an impairment equal to the amount by which a reporting unit 's carrying value exceeds its fair value . we estimate fair value using discounted cash flows of the reporting units . the most significant assumptions used in these analyses are those made in estimating future cash flows . in estimating future cash flows , we use financial assumptions in our internal forecasting model such as projected capacity utilization , projected changes in the prices we charge for our services , projected labor costs , as well as contract negotiation status . the financial and credit market volatility directly impacts our fair value measurement through our weighted average cost of capital that we use to determine our discount rate . we use a discount rate we consider appropriate for the country where the business unit is providing services . similar to goodwill , the company may first use a qualitative analysis to assess the realizability of its indefinite-lived intangible assets . the qualitative analysis will include a review of changes in economic , market and industry conditions , business strategy , cost factors , and financial performance , among others ,

cash flows from investing activities for the years 2020 and 2019 , we reported net cash flows used in investing activities of $ 112.4 million and $ 162.9 million , respectively . the net decrease in cash used in investing activities from 2019 to 2020 was primarily due to a $ 49.8 million decrease related to acquisitions . cash flows from financing activities for the years 2020 and 2019 , we reported net cash flows used in financing activities of $ 112.2 million and $ 47.4 million , respectively . the change in net cash flows from 2019 to 2020 was primarily due to a $ 87.0 million net additional draw on the line of credit , offset by a $ 42.8 million increase related to payments of contingent consideration and hold-back payments related to several acquisitions and a $ 105.8 million increase in dividends paid to shareholders . 40 free cash flow free cash flow ( see “ presentation of non-gaap measurements ” below for the definition of free cash flow ) was $ 212.1 million and $ 177.2 million for the years 2020 and 2019 , respectively . the increase from 2019 to 2020 was primarily due to an increase in the net cash from operations offset by slightly lower capital expenditures presentation of non-gaap measurements free cash flow free cash flow is a non-gaap liquidity measurement . we believe that free cash flow is useful to our investors because it measures , during a given period , the amount of cash generated that is available for debt obligations and investments other than purchases of property , plant and equipment . free cash flow is not a measure determined by gaap and should not be considered a substitute for “ income from operations , ” “ net income , ” “ net cash provided by operating activities , ” or any other measure determined in accordance with gaap . we believe this non-gaap liquidity measure is useful , in addition to the most directly comparable gaap measure of “ net cash provided by operating activities , ” because free cash flow includes investments in operational assets .


 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 from investing activities for the years 2020 and 2019 , we reported net cash flows used in investing activities of $ 112.4 million and $ 162.9 million , respectively . the net decrease in cash used in investing activities from 2019 to 2020 was primarily due to a $ 49.8 million decrease related to acquisitions . cash flows from financing activities for the years 2020 and 2019 , we reported net cash flows used in financing activities of $ 112.2 million and $ 47.4 million , respectively . the change in net cash flows from 2019 to 2020 was primarily due to a $ 87.0 million net additional draw on the line of credit , offset by a $ 42.8 million increase related to payments of contingent consideration and hold-back payments related to several acquisitions and a $ 105.8 million increase in dividends paid to shareholders . 40 free cash flow free cash flow ( see “ presentation of non-gaap measurements ” below for the definition of free cash flow ) was $ 212.1 million and $ 177.2 million for the years 2020 and 2019 , respectively . the increase from 2019 to 2020 was primarily due to an increase in the net cash from operations offset by slightly lower capital expenditures presentation of non-gaap measurements free cash flow free cash flow is a non-gaap liquidity measurement . we believe that free cash flow is useful to our investors because it measures , during a given period , the amount of cash generated that is available for debt obligations and investments other than purchases of property , plant and equipment . free cash flow is not a measure determined by gaap and should not be considered a substitute for “ income from operations , ” “ net income , ” “ net cash provided by operating activities , ” or any other measure determined in accordance with gaap . we believe this non-gaap liquidity measure is useful , in addition to the most directly comparable gaap measure of “ net cash provided by operating activities , ” because free cash flow includes investments in operational assets .
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 Suspicious Activity Report : we also invest to broaden our product and service capabilities , increase our global client base and industry expertise , tailor our geographic footprint to the needs of our clients , and further scale our end-to-end integrated solutions platform . to this end we have been highly acquisitive in the last several years , including an acquisition in the second half of 2020 of a preferred amazon connect cloud contact center service provider , an acquisition in the first quarter of 2020 of an autonomous customer experience and intelligent automation solutions provider and an acquisition in the fourth quarter of 2019 of a provider of customer care , social media community management , content moderation , technical support and business process solutions for rapidly growing businesses in early stages of their lifecycle . we have extensive expertise in the automotive , communications , financial services , national/federal and state and local government , healthcare , logistics , media and entertainment , e-tail/retail , technology , travel and transportation industries . we serve more than 300 diverse clients globally , including many of the world 's iconic brands , fortune 1000 companies , government agencies , and disruptive growth companies . in march 2020 , the world health organization declared the outbreak of covid-19 as a global pandemic . within weeks of this announcement , travel bans , a state of emergency , quarantines , lockdowns , “ shelter in place ” orders , and business restrictions and shutdowns were issued in most countries where ttec does business . the need to comply with these measures , which came into effect with little notice , impacted our day-to-day operations and disrupted our business in the last month of the first quarter and second quarter of the year . as a result , operations were suspended in some of our ttec engage customer experience delivery sites . business continuity plans were executed to transition as many employees as was reasonably possible to a work from home environment to support the health and well-being of our employees and communities and to provide a stable service delivery platform for our clients . between mid-march and mid-april 2020 , we transitioned over 43,000 employees , or 80 % of our employee population , to a work from home environment . with the easing of some of the government restrictions , those employees who were considered essential and could not operate effectively while remote returned to our brick-and-mortar sites , but most continue to work from home . for those sites that continue to operate , we have taken extensive measures to protect the health and safety of our employees , in accordance with the recommendations and guidelines provided by the world health organization , the u.s. and european centers for disease control and prevention , the u.s. occupational safety association , and local governments in jurisdictions where our customer experience centers are located . although our business experienced the effects of covid-19 in the first half of 2020 , our implementation of business continuity plans , rapid transition of employees to a work from home environment , and the geographic diversification of our delivery centers allowed us to mitigate potentially more severe impacts , and positioned us to support our commercial and public sector clients experiencing significant surge volumes of customer , patient and citizen covid-19 related engagement . our covid-19 related surge work has contributed approximately 12 % of our total revenue for 2020. although approximately 20 % of our pre-covid-19 business was comprised of clients in industries that have been negatively impacted by the pandemic , i.e . automotive , retail and travel and hospitality , the 2020 total revenue derived from these clients has increased approximately 10 % over the prior year period . through the period ended december 31 , 2020 the covid-19 pandemic has not had a material adverse impact on our operational or financial results . while we expect this positive trend to continue and while some of our covid-19 related work has transitioned to more traditional business activities for the same clients , there is uncertainty about our covid-19 surge volumes and our non-covid-19 related business . we can not accurately predict the severity of the economic and operational challenges of a pro-longed covid-19 pandemic on our clients ' businesses and its effect on the magnitude and timing of their buying decisions . further , while to date we have been successful in managing service delivery from our delivery sites that could not be replaced with work from home delivery , unpredictable lockdown decisions in some jurisdictions where we do business may continue to impact our delivery capability with little notice , thus potentially impacting our results of operations in the future . 30 in march 2020 , we launched multiple cost reduction , optimization , and liquidity preservation initiatives to align our expenses with anticipated changes in revenue and increased costs related to the covid-19 pandemic and government mandated restriction measures . we also intensified our cash flow discipline , including working capital management , hiring freezes , cuts in non-essential spending , suspension of merit increases and some incentive programs , deferral of capital expenditures , where possible , and negotiations for rent concessions for those facilities that we were unable to use during the government restrictions related to the covid-19 pandemic . our results of operations for 2020 permitted us to reverse most of the cost austerity measures . with the greater adoption of our work from home solution during the covid-19 pandemic , we also launched a comprehensive review of our global real estate footprint to balance our commitments to physical facilities around the globe against evolving client preferences with respect to traditional physical delivery centers and work from home delivery . considering the continued covid-19 related uncertainties , we continue to remain vigilant in our cost management . story_separator_special_tag 34 income taxes accounting for income taxes requires recognition of deferred tax assets and liabilities for the expected future income tax consequences of transactions that have been included in the consolidated financial statements or tax returns . under this method , deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using tax rates in effect for the year in which the differences are expected to reverse . when circumstances warrant , we assess the likelihood that our net deferred tax assets will more likely than not be recovered from future projected taxable income . we continually review the likelihood that deferred tax assets will be realized in future tax periods under the “ more-likely-than-not ” criteria . in making this judgment , we consider all available evidence , both positive and negative , in determining whether , based on the weight of that evidence , a valuation allowance is required . we follow a two-step approach to recognizing and measuring uncertain tax positions . the first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained on audit . the second step is to estimate and measure the tax benefit as the amount that has a greater than 50 % likelihood of being realized upon ultimate settlement with the tax authority . we evaluate these uncertain tax positions on a quarterly basis . this evaluation is based on the consideration of several factors including changes in facts or circumstances , changes in applicable tax law , and settlement of issues under audit . interest and penalties relating to income taxes and uncertain tax positions are accrued net of tax in the provision for income taxes in the accompanying consolidated statements of comprehensive income ( loss ) . in the future , our effective tax rate could be adversely affected by several factors , many of which are outside our control . our effective tax rate is affected by the proportion of revenue and income before taxes in the various domestic and international jurisdictions in which we operate . further , we are subject to changing tax laws , regulations and interpretations in multiple jurisdictions in which we operate , as well as the requirements , pronouncements and rulings of certain tax , regulatory and accounting organizations . we estimate our annual effective tax rate each quarter based on a combination of actual and forecasted results of subsequent quarters . consequently , significant changes in our actual quarterly or forecasted results may impact the effective tax rate for the current or future periods . impairment of long-lived assets we evaluate the carrying value of property , plant and equipment and definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable . an asset is considered to be impaired when the forecasted undiscounted cash flows of an asset group are estimated to be less than its carrying value . the amount of impairment recognized is the difference between the carrying value of the asset group and its fair value . fair value estimates are based on assumptions concerning the amount and timing of estimated future cash flows and assumed discount rates . goodwill and indefinite-lived intangible assets we evaluate goodwill and indefinite-lived intangible assets for possible impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable . we use a two-step process to assess the realizability of goodwill . the first step , step 0 , is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit . for example , we analyze changes in economic , market and industry conditions , business strategy , cost factors , and financial performance , among others , to determine if there would be a significant decline to the fair value of a particular reporting unit . a qualitative assessment also includes analyzing the excess fair value of a reporting unit over its carrying value from impairment assessments performed in previous years . if the qualitative assessment indicates a stable or improved fair value , no further testing is required . 35 if a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not , or if a reporting unit 's fair value has historically been closer to its carrying value , we will proceed to step 1 testing where we calculate the fair value of a reporting unit based on discounted future probability-weighted cash flows . if step 1 indicates that the carrying value of a reporting unit is in excess of its fair value , we will record an impairment equal to the amount by which a reporting unit 's carrying value exceeds its fair value . we estimate fair value using discounted cash flows of the reporting units . the most significant assumptions used in these analyses are those made in estimating future cash flows . in estimating future cash flows , we use financial assumptions in our internal forecasting model such as projected capacity utilization , projected changes in the prices we charge for our services , projected labor costs , as well as contract negotiation status . the financial and credit market volatility directly impacts our fair value measurement through our weighted average cost of capital that we use to determine our discount rate . we use a discount rate we consider appropriate for the country where the business unit is providing services . similar to goodwill , the company may first use a qualitative analysis to assess the realizability of its indefinite-lived intangible assets . the qualitative analysis will include a review of changes in economic , market and industry conditions , business strategy , cost factors , and financial performance , among others ,

