we also typically receive a performance fee from an investment fund , which may be either an incentive fee or a special residual allocation of income , which we refer to as a carried interest , in the event that specified investment returns are achieved by the fund . under u.s. generally accepted accounting principles ( “ u.s . gaap ” ) , we are required to consolidate some of the investment funds that we advise . however , for segment reporting purposes , we present revenues and expenses on a basis that deconsolidates these investment funds . accordingly , our segment revenues primarily consist of fund management and related advisory fees and other income , realized performance revenues ( consisting of incentive fees and carried interest allocations ) , realized principal investment income , including realized gains on our investments in our funds and other trading securities , as well as interest income . our segment expenses primarily consist of cash compensation and benefits expenses , including salaries , bonuses , and realized performance payment arrangements , and general and administrative expenses . while our segment expenses include depreciation and interest expense , our segment expenses exclude acquisition-related charges and amortization of intangibles and impairment . refer to note 17 to the consolidated financial statements included in this annual report on form 10-k for 84 more information on the differences between our financial results reported pursuant to u.s. gaap and our financial results for segment reporting purposes . trends affecting our business market expectations for global economic growth continued to moderate into the fourth quarter of 2019. in the u.s. , growth decelerated relative to 2018 due to weakness in the industrial sector , business spending , and exports . although at a more moderate pace than 2018 , during 2019 and into early 2020 the economy continued to grow due to a housing sector rebound driven by lower mortgage rates tied to three federal reserve rate cuts during 2019 , and strong consumption growth due to low unemployment , robust real wage growth and generally solid household balance sheets during the year . the softness in business spending during 2019 and continuing into early 2020 appears to be attributable to a combination of weak corporate earnings , heightened “ late-cycle ” fears among business managers and ongoing geopolitical tensions . rising compensation and input costs have led to a decline in operating margins , while a strong dollar continues to weigh on the domestic value of foreign sales and earnings . in china , official data indicate real gdp grew by 6 % over the course of 2019 , unchanged from the third quarter . the deceleration in growth relative to prior periods was driven by ongoing softness in exports , housing and manufacturing . data over the course of 2019 highlights the degree to which the costs of the trade dispute have negatively affected the overall global economy . in its january 2020 update to the world economic outlook , the international monetary fund estimates that global growth amounted to just 2.9 % in 2019 and that the bulk of the slowdown from 4 % growth at the start of 2018 can be attributed to weak global trade . trends in manufacturing surveys , sentiment indices , and long-term yields all closely tracked the fall in global trade volumes throughout the year . since the global trade system is based on integrated , cross-border value chains , negative effects in one part of the network quickly spread to the rest . geopolitical uncertainty , trade frictions , and other downside risks continue to exert a significant impact on the overall economy into early 2020. although investors ' optimism rose in the immediate aftermath of the finalization of the “ phase-one ” trade agreement between the u.s. and china ( the s & p 500 , msci acwi-all cap , eurostoxx 600 and shanghai composite each rose 8.5 % , 8.6 % , 5.8 % , and 5.0 % , respectively , in the fourth quarter , bringing 2019 returns into the double digits across indices ) , sentiment has shifted once more in light of new concerns . the global market exuberance of the fourth quarter was likely due to investor hopes for a rebound in growth after the easing of trade tensions , particularly in china . the rapid proliferation of the novel coronavirus , however , threatens such a rebound , and highlights the fragility of the macro economy . from december 31 through january 31 , 2020 , the hang seng index fell nearly 7 % . brent crude spot prices fell nearly 16 % in january 2020 on fears that virus containment efforts will choke off demand . in the u.s. , valuations remain high , as prices belie underlying fundamentals . earnings for companies in the s & p 500 declined year-over-year in each of the first three quarters of 2019 , and are estimated to have risen just 0.7 % in the fourth quarter . if the growth that investors anticipate fails to materialize , or if the expected stabilization in trade does not come to fruition , equity markets may react in kind . the global monetary policy easing cycle that characterized the first three quarters of 2019 appears to have significantly slowed , with most ( but not all ) central banks on hold for now . story_separator_special_tag as a result , the performance allocations earned in an applicable reporting period are not indicative of any future period , as fair values are based on conditions prevalent as of the reporting date . refer to “ — trends affecting our business ” for further discussion . in addition to the performance allocations from our corporate private equity and real assets funds and most of our closed-end carry funds in the global credit segment , we are also entitled to receive performance allocations from our investment solutions , carlyle aviation and ngp carry funds . the timing of performance allocations realizations for these funds is typically later than in our other carry funds based on the terms of such arrangements . our performance allocations are generated by a diverse set of funds with different vintages , geographic concentration , investment strategies and industry specialties . for an explanation of the fund acronyms used throughout this management 's discussion and analysis of financial condition and results of operations section , see “ item 1. business — our family of funds . ” 88 performance allocations in excess of 10 % of the total for the years ended december 31 , 2019 , 2018 and 2017 were generated from the following funds : replace_table_token_7_th no other fund generated over 10 % of performance allocations in the periods presented above . under our arrangements with the historical owners and management team of alpinvest , we generally do not retain any carried interest in respect of the historical investments and commitments to our fund vehicles that existed as of july 1 , 2011 ( including any options to increase any such commitments exercised after such date ) . we are entitled to 15 % of the carried interest in respect of commitments from the historical owners of alpinvest for the period between 2011 and 2020 and 40 % of the carried interest in respect of all other commitments ( including all future commitments from third parties ) . in certain instances , carried interest associated with the alpinvest fund vehicles is subject to entity level income taxes in the netherlands . realized carried interest may be clawed back or given back to the fund if the fund 's investment values decline below certain return hurdles , which vary from fund to fund . when the fair value of a fund 's investments remains constant or falls below certain return hurdles , previously recognized performance allocations are reversed . in all cases , each investment fund is considered separately in evaluating carried interest and potential giveback obligations . for any given period , performance allocations revenue on our statement of operations may include reversals of previously recognized performance allocations due to a decrease in the value of a particular fund that results in a decrease of cumulative performance allocations earned to date . since fund return hurdles are cumulative , previously recognized performance allocations also may be reversed in a period of appreciation that is lower than the particular fund 's hurdle rate . for the years ended december 31 , 2019 , 2018 , and 2017 , the reversals of performance allocations were $ 215.8 million , $ 364.4 million and $ 74.2 million , respectively . additionally , unrealized performance allocations reverse when performance allocations are realized , and unrealized performance allocations can be negative if the amount of realized performance allocations exceed total performance allocations generated in the period . as of december 31 , 2019 , accrued performance allocations and accrued giveback obligations were approximately $ 3.9 billion and $ 22.2 million , respectively . each balance assumes a hypothetical liquidation of the funds ' investments at december 31 , 2019 at their then current fair values . these assets and liabilities will continue to fluctuate in accordance with the fair values of the fund investments until they are realized . as of december 31 , 2019 , approximately $ 14.1 million of the accrued giveback obligation is the responsibility of various current and former senior carlyle professionals and other limited partners of the carlyle holdings partnerships , and the net accrued giveback obligation attributable to carlyle holdings is $ 8.1 million . the company uses “ net accrued performance revenues ” to refer to the aggregation of the accrued performance allocations and incentive fees net of ( i ) accrued giveback obligations , ( ii ) accrued performance allocations and incentive fee-related compensation , ( iii ) performance allocations and incentive fee-related tax obligations , and ( iv ) accrued performance allocations and incentive fees attributable to non-controlling interests and excludes any net accrued performance allocations and incentive fees that have been realized but will be collected in subsequent periods . the net accrued performance revenues as of december 31 , 2019 are $ 1.7 billion . in addition , realized performance allocations may be reversed in future periods to the extent that such amounts become subject to a giveback obligation . if at december 31 , 2019 , all investments held by our carry funds were deemed worthless , a possibility that management views as remote , the amount of realized and previously distributed performance allocations subject to potential giveback would be approximately $ 0.4 billion , on an after-tax basis where applicable . see the related discussion of “ contingent obligations ( giveback ) ” within “ — liquidity and capital resources . ” 89 the following table summarizes the total amount of aggregate giveback obligations that we have realized since carlyle 's inception . given various current and former senior carlyle professionals and other limited partners of the carlyle holdings partnerships are responsible for paying the majority of the realized giveback obligation , the table below also summarizes the amount that was attributable to carlyle holdings : inception through december 31 , 2019 total giveback giveback attributable to carlyle holdings ( dollars in millions ) various legacy energy funds $ 155.2 $ 55.0 all other carlyle

net cash used in investing activities . our investing activities generally reflect cash used for acquisitions and fixed assets and software for internal use . purchases of fixed assets were $ 27.8 million , $ 31.3 million and $ 34.0 million for the years ended december 31 , 2019 , 2018 and 2017 , respectively . during the year ended december 31 , 2018 , cash used in investing activities principally reflects the acquisition of carlyle aviation partners . net cash provided by financing activities . in 2019 , we received net proceeds of $ 420.6 million from the issuance of $ 425 million of 3.500 % senior notes , and $ 41.0 million from the issuance of various clo borrowings , paid $ 405.4 million to repurchase our outstanding preferred units , paid $ 34.5 million to repurchase 1.6 million units under our repurchase program 146 and paid off a $ 25 million term loan . in 2018 , we received net proceeds of $ 345.7 million from the issuance of $ 350 million of 5.650 % senior notes , paid $ 255 million to repurchase $ 250 million of 3.875 % senior note , and paid $ 108.8 million to prepay the remaining balance outstanding under a promissory note to bnri . in 2017 , we received net proceeds of $ 387.5 million from the issuance of preferred units and $ 265.6 million from the issuance of various clo term loans . dividends to our common stockholders were $ 154.9 million , $ 129.8 million , and $ 118.1 million for the years ended december 31 , 2019 , 2018 and 2017 , respectively . distributions to the non-controlling interest holders in carlyle holdings were $ 313.3 million , $ 288.8 million , and $ 295.6 million the years ended december 31 , 2019 , 2018 and 2017 , respectively . the net ( payments ) borrowings on loans payable by our consolidated funds during the years ended december 31 , 2019 , 2018 and 2017 were $ 224.8 million , $ 818.0 million , and $ 147.2 million , respectively .


 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.
     ```net cash used in investing activities . our investing activities generally reflect cash used for acquisitions and fixed assets and software for internal use . purchases of fixed assets were $ 27.8 million , $ 31.3 million and $ 34.0 million for the years ended december 31 , 2019 , 2018 and 2017 , respectively . during the year ended december 31 , 2018 , cash used in investing activities principally reflects the acquisition of carlyle aviation partners . net cash provided by financing activities . in 2019 , we received net proceeds of $ 420.6 million from the issuance of $ 425 million of 3.500 % senior notes , and $ 41.0 million from the issuance of various clo borrowings , paid $ 405.4 million to repurchase our outstanding preferred units , paid $ 34.5 million to repurchase 1.6 million units under our repurchase program 146 and paid off a $ 25 million term loan . in 2018 , we received net proceeds of $ 345.7 million from the issuance of $ 350 million of 5.650 % senior notes , paid $ 255 million to repurchase $ 250 million of 3.875 % senior note , and paid $ 108.8 million to prepay the remaining balance outstanding under a promissory note to bnri . in 2017 , we received net proceeds of $ 387.5 million from the issuance of preferred units and $ 265.6 million from the issuance of various clo term loans . dividends to our common stockholders were $ 154.9 million , $ 129.8 million , and $ 118.1 million for the years ended december 31 , 2019 , 2018 and 2017 , respectively . distributions to the non-controlling interest holders in carlyle holdings were $ 313.3 million , $ 288.8 million , and $ 295.6 million the years ended december 31 , 2019 , 2018 and 2017 , respectively . the net ( payments ) borrowings on loans payable by our consolidated funds during the years ended december 31 , 2019 , 2018 and 2017 were $ 224.8 million , $ 818.0 million , and $ 147.2 million , respectively .
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 Suspicious Activity Report : we also typically receive a performance fee from an investment fund , which may be either an incentive fee or a special residual allocation of income , which we refer to as a carried interest , in the event that specified investment returns are achieved by the fund . under u.s. generally accepted accounting principles ( “ u.s . gaap ” ) , we are required to consolidate some of the investment funds that we advise . however , for segment reporting purposes , we present revenues and expenses on a basis that deconsolidates these investment funds . accordingly , our segment revenues primarily consist of fund management and related advisory fees and other income , realized performance revenues ( consisting of incentive fees and carried interest allocations ) , realized principal investment income , including realized gains on our investments in our funds and other trading securities , as well as interest income . our segment expenses primarily consist of cash compensation and benefits expenses , including salaries , bonuses , and realized performance payment arrangements , and general and administrative expenses . while our segment expenses include depreciation and interest expense , our segment expenses exclude acquisition-related charges and amortization of intangibles and impairment . refer to note 17 to the consolidated financial statements included in this annual report on form 10-k for 84 more information on the differences between our financial results reported pursuant to u.s. gaap and our financial results for segment reporting purposes . trends affecting our business market expectations for global economic growth continued to moderate into the fourth quarter of 2019. in the u.s. , growth decelerated relative to 2018 due to weakness in the industrial sector , business spending , and exports . although at a more moderate pace than 2018 , during 2019 and into early 2020 the economy continued to grow due to a housing sector rebound driven by lower mortgage rates tied to three federal reserve rate cuts during 2019 , and strong consumption growth due to low unemployment , robust real wage growth and generally solid household balance sheets during the year . the softness in business spending during 2019 and continuing into early 2020 appears to be attributable to a combination of weak corporate earnings , heightened “ late-cycle ” fears among business managers and ongoing geopolitical tensions . rising compensation and input costs have led to a decline in operating margins , while a strong dollar continues to weigh on the domestic value of foreign sales and earnings . in china , official data indicate real gdp grew by 6 % over the course of 2019 , unchanged from the third quarter . the deceleration in growth relative to prior periods was driven by ongoing softness in exports , housing and manufacturing . data over the course of 2019 highlights the degree to which the costs of the trade dispute have negatively affected the overall global economy . in its january 2020 update to the world economic outlook , the international monetary fund estimates that global growth amounted to just 2.9 % in 2019 and that the bulk of the slowdown from 4 % growth at the start of 2018 can be attributed to weak global trade . trends in manufacturing surveys , sentiment indices , and long-term yields all closely tracked the fall in global trade volumes throughout the year . since the global trade system is based on integrated , cross-border value chains , negative effects in one part of the network quickly spread to the rest . geopolitical uncertainty , trade frictions , and other downside risks continue to exert a significant impact on the overall economy into early 2020. although investors ' optimism rose in the immediate aftermath of the finalization of the “ phase-one ” trade agreement between the u.s. and china ( the s & p 500 , msci acwi-all cap , eurostoxx 600 and shanghai composite each rose 8.5 % , 8.6 % , 5.8 % , and 5.0 % , respectively , in the fourth quarter , bringing 2019 returns into the double digits across indices ) , sentiment has shifted once more in light of new concerns . the global market exuberance of the fourth quarter was likely due to investor hopes for a rebound in growth after the easing of trade tensions , particularly in china . the rapid proliferation of the novel coronavirus , however , threatens such a rebound , and highlights the fragility of the macro economy . from december 31 through january 31 , 2020 , the hang seng index fell nearly 7 % . brent crude spot prices fell nearly 16 % in january 2020 on fears that virus containment efforts will choke off demand . in the u.s. , valuations remain high , as prices belie underlying fundamentals . earnings for companies in the s & p 500 declined year-over-year in each of the first three quarters of 2019 , and are estimated to have risen just 0.7 % in the fourth quarter . if the growth that investors anticipate fails to materialize , or if the expected stabilization in trade does not come to fruition , equity markets may react in kind . the global monetary policy easing cycle that characterized the first three quarters of 2019 appears to have significantly slowed , with most ( but not all ) central banks on hold for now . story_separator_special_tag as a result , the performance allocations earned in an applicable reporting period are not indicative of any future period , as fair values are based on conditions prevalent as of the reporting date . refer to “ — trends affecting our business ” for further discussion . in addition to the performance allocations from our corporate private equity and real assets funds and most of our closed-end carry funds in the global credit segment , we are also entitled to receive performance allocations from our investment solutions , carlyle aviation and ngp carry funds . the timing of performance allocations realizations for these funds is typically later than in our other carry funds based on the terms of such arrangements . our performance allocations are generated by a diverse set of funds with different vintages , geographic concentration , investment strategies and industry specialties . for an explanation of the fund acronyms used throughout this management 's discussion and analysis of financial condition and results of operations section , see “ item 1. business — our family of funds . ” 88 performance allocations in excess of 10 % of the total for the years ended december 31 , 2019 , 2018 and 2017 were generated from the following funds : replace_table_token_7_th no other fund generated over 10 % of performance allocations in the periods presented above . under our arrangements with the historical owners and management team of alpinvest , we generally do not retain any carried interest in respect of the historical investments and commitments to our fund vehicles that existed as of july 1 , 2011 ( including any options to increase any such commitments exercised after such date ) . we are entitled to 15 % of the carried interest in respect of commitments from the historical owners of alpinvest for the period between 2011 and 2020 and 40 % of the carried interest in respect of all other commitments ( including all future commitments from third parties ) . in certain instances , carried interest associated with the alpinvest fund vehicles is subject to entity level income taxes in the netherlands . realized carried interest may be clawed back or given back to the fund if the fund 's investment values decline below certain return hurdles , which vary from fund to fund . when the fair value of a fund 's investments remains constant or falls below certain return hurdles , previously recognized performance allocations are reversed . in all cases , each investment fund is considered separately in evaluating carried interest and potential giveback obligations . for any given period , performance allocations revenue on our statement of operations may include reversals of previously recognized performance allocations due to a decrease in the value of a particular fund that results in a decrease of cumulative performance allocations earned to date . since fund return hurdles are cumulative , previously recognized performance allocations also may be reversed in a period of appreciation that is lower than the particular fund 's hurdle rate . for the years ended december 31 , 2019 , 2018 , and 2017 , the reversals of performance allocations were $ 215.8 million , $ 364.4 million and $ 74.2 million , respectively . additionally , unrealized performance allocations reverse when performance allocations are realized , and unrealized performance allocations can be negative if the amount of realized performance allocations exceed total performance allocations generated in the period . as of december 31 , 2019 , accrued performance allocations and accrued giveback obligations were approximately $ 3.9 billion and $ 22.2 million , respectively . each balance assumes a hypothetical liquidation of the funds ' investments at december 31 , 2019 at their then current fair values . these assets and liabilities will continue to fluctuate in accordance with the fair values of the fund investments until they are realized . as of december 31 , 2019 , approximately $ 14.1 million of the accrued giveback obligation is the responsibility of various current and former senior carlyle professionals and other limited partners of the carlyle holdings partnerships , and the net accrued giveback obligation attributable to carlyle holdings is $ 8.1 million . the company uses “ net accrued performance revenues ” to refer to the aggregation of the accrued performance allocations and incentive fees net of ( i ) accrued giveback obligations , ( ii ) accrued performance allocations and incentive fee-related compensation , ( iii ) performance allocations and incentive fee-related tax obligations , and ( iv ) accrued performance allocations and incentive fees attributable to non-controlling interests and excludes any net accrued performance allocations and incentive fees that have been realized but will be collected in subsequent periods . the net accrued performance revenues as of december 31 , 2019 are $ 1.7 billion . in addition , realized performance allocations may be reversed in future periods to the extent that such amounts become subject to a giveback obligation . if at december 31 , 2019 , all investments held by our carry funds were deemed worthless , a possibility that management views as remote , the amount of realized and previously distributed performance allocations subject to potential giveback would be approximately $ 0.4 billion , on an after-tax basis where applicable . see the related discussion of “ contingent obligations ( giveback ) ” within “ — liquidity and capital resources . ” 89 the following table summarizes the total amount of aggregate giveback obligations that we have realized since carlyle 's inception . given various current and former senior carlyle professionals and other limited partners of the carlyle holdings partnerships are responsible for paying the majority of the realized giveback obligation , the table below also summarizes the amount that was attributable to carlyle holdings : inception through december 31 , 2019 total giveback giveback attributable to carlyle holdings ( dollars in millions ) various legacy energy funds $ 155.2 $ 55.0 all other carlyle

