we have no obligation to update any forward-looking statements in this annual report on form 10-k after the date of this annual report on form 10-k , except as required by federal securities laws . 34 executive overview we are a leading operations management and analytics company that helps our clients build and grow sustainable businesses . by orchestrating our domain expertise , data , analytics and digital technology , we look deeper to design and manage agile , customer-centric operating models to improve global operations , drive profitability , enhance customer satisfaction , increase data-driven insights , and manage risk and compliance . we serve customers in multiple industries , including insurance , healthcare , banking and financial services , utilities , travel , transportation and logistics , media and retail , among others . we operate in the business process management ( “ bpm ” ) industry and we provide operations management and analytics services . as described below , effective january 1 , 2020 , we realigned our operating and reportable segments , but the presentation in this annual report , including the discussion in the next two paragraphs , refers to the structure in place prior to such realignment . our eight operating segments are strategic business units that align our products and services with how we manage our business , approach our key markets and interact with our clients . five of those operating segments provide bpm or “ operations management ” services , which we organize into industry-focused operating segments ( insurance , healthcare , travel , transportation and logistics , banking and financial services , and utilities ) and one of the operating segments is a “ capability ” segment ( finance and accounting ) that provides services to clients in our industry-focused segments as well as clients across other industries . in each of these six operating segments we provide operations management services , which typically involve transfer to the company of business operations of a client , after which we administer and manage those operations for our client on an ongoing basis . our remaining two operating segments are consulting , which provides industry-specific digital transformational services related to operations management services , and our analytics operating segment , which provides services that focus on driving improved business outcomes for clients by generating data-driven insights across all parts of their business . we present information for the following reportable segments : insurance , healthcare , travel , transportation and logistics , finance and accounting , analytics , and all other ( consisting of our remaining operating segments , including our banking and financial services , utilities and consulting operating segments ) . effective january 1 , 2020 , we made certain operational and structural changes to more closely integrate our businesses and to simplify our organizational structure . we now manage and report financial information through our four strategic business units : insurance , healthcare , analytics and emerging business which reflects how management will review financial information and make operating decisions . these business units will develop client specific solutions , build capabilities , maintain a unified go-to-market approach and be integrally responsible for service delivery , customer satisfaction , growth and profitability . in line with our strategy of vertical integration and focus on domain expertise we have integrated our finance & accounting and consulting operating segments within each of the insurance and healthcare operating segments based on the respective industry-specific clients . finance & accounting and consulting services to clients outside of those industries , will now be part of our newly formed business unit and reportable segment ‘ emerging business ' . in addition , we integrated our former travel , transportation and logistics , banking and financial services , and utilities operating segments under “ emerging business ” to further leverage and optimize the operating scale in providing operations management services . our new reportable segments effective january 1 , 2020 are as follows : insurance , healthcare , analytics , and emerging business this change in segment presentation will not have any effect on our consolidated statements of income , balance sheets or statements of cash flows . the revised presentation will be reflected in our subsequent periodic and annual reports . for further information on our operating segments , see “ item 1. business . ” 35 our global delivery network , which includes highly trained industry and process specialists across the united states , latin america , south africa , europe and asia ( primarily india and the philippines ) , is a key asset . we have operations centers in india , the u.s. , the philippines , bulgaria , colombia , south africa , romania and the czech republic . on july 1 , 2018 , we completed the acquisition of scio pursuant to the merger agreement . the acquisition of scio is included in the analytics reportable segment . scio is a health analytics solution and services company serving healthcare organizations including providers , health plans , pharmacy benefit managers , employers , health services and global life sciences companies . on december 31 , 2019 , we completed substantially the previously announced wind down of the operations of the health integrated business , which is reported within the healthcare reportable segment . revenues for the year ended december 31 , 2019 , we had revenues of $ 991.3 million compared to revenues of $ 883.1 million for the year ended december 31 , 2018 , an increase of $ 108.2 million , or 12.3 % . we serve clients mainly in the u.s. and the u.k. , with these two regions generating 82.5 % and 11.4 % , respectively , of our total revenues for the year ended december 31 , 2019 and 83.0 % and 13.0 % , respectively , of our revenues for the year ended december 31 , 2018 . story_separator_special_tag the tax holiday expired for few of our centers in 2014 , 2016 , 2018 and in 2019 and will expire for other centers by year 2022 , which may lead to an increase in our overall tax rate . following the expiry of the tax exemption , income generated from centers in the philippines will be taxed at the prevailing annual tax rate , which as of december 31 , 2019 was 5 % of the gross income . we recognize deferred tax assets and liabilities for temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss carry forwards . we determine if a valuation allowance is required or not on the basis of an assessment of whether it is more likely than not that a deferred tax asset will be realized . 39 critical accounting policies and estimates the discussion and analysis of our financial condition and results of operations are based upon the financial statements included in this annual report on form 10-k , which have been prepared in accordance with u.s. generally accepted accounting principles ( “ u.s . gaap ” ) . a summary of our significant accounting policies is included in note 2 - “ summary of significant accounting policies ” to our consolidated financial statements . we consider the policies discussed below to be critical to an understanding of our consolidated financial statements , as their application places the most significant demands on management 's judgment regarding matters that are inherently uncertain at the time an estimate is made . these policies include revenue recognition , allowance for doubtful receivables , business combinations , goodwill , intangibles and long-lived assets , stock-based compensation , derivative instruments and hedging activity , borrowings , assumptions related to lease liabilities , rou assets , lease cost , income taxes and assets and obligations related to employee benefit plans . these accounting policies and the associated risks are set out below . future events may not develop exactly as forecasted and estimates routinely require adjustment . revenue recognition revenue is recognized when services are provided to our customers , in an amount that reflects the consideration which we expect to be entitled to in exchange for the services provided . revenue is measured based on consideration specified in a contract with a customer and excludes discounts and amounts collected on behalf of third parties . we recognize revenue when we satisfy a performance obligation by providing services to a customer . taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction , that are collected by us from a customer , are excluded from revenue . significant judgments arrangements with multiple performance obligations we sometimes enter into contracts with our clients which include promises to transfer multiple products and services to the client . determining whether products and services are considered as distinct performance obligations that should be accounted for separately rather than as one performance obligation may require significant judgment . the transaction price is allocated to performance obligations on relative standalone selling price basis . judgment is also required to determine the standalone selling price for each distinct performance obligation . in instances where the standalone selling price is not directly observable , it is determined using information that may include market conditions and other observable inputs . variable consideration variability in the transaction price arises primarily due to service level agreements , pre-payment and volume discounts . we consider our experience with similar transactions and expectations regarding the contract in estimating the amount of variable consideration that should be recognized during a period . we believe that the expected value method is most appropriate for determining the variable consideration since we have a large number of contracts with similar nature of transactions/services . type of contracts requires judgments a. revenues for our fixed-price contracts are recognized using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations . incurred cost represents work performed , which corresponds with , and thereby best depicts , the transfer of control to the client . the use of this method requires significant judgment to estimate the cost required to complete the contracted scope of work , including assumptions and estimates relative to the length of time to complete the project and the nature and complexity of the work to be performed and resources engaged . we regularly monitor these estimates throughout the execution of the project and record changes in the period in which a change in an estimate is determined . if a change in an estimate results in a projected loss on a project , such loss is recognized in the period in which it is first identified . 40 b. revenues from reimbursement optimization services having contingent fee arrangements are recognized by us at the point in time when a performance obligation is satisfied , which is when we identify an overpayment claim . in such contracts , our consideration is contingent upon the actual collections made by our customers and net of any subsequent retraction claims . based on guidance on “ variable consideration ” in topic 606 , we use our historical experience and projections to determine the expected recoveries from our customers and recognize revenue based upon such expected recoveries . any adjustment required due to change in estimates are recorded in the period in which such change is identified . for additional information , see note 5 ( revenues ) to our consolidated financial statements under item 8 , “ financial statements and supplementary data . ” unbilled receivables unbilled receivables represent revenues recognized for services rendered between the last billing date and the balance sheet date . unbilled receivables also include revenues recognized from reimbursement optimization services where we identify an overpayment claim . in such contracts , our consideration is contingent

liquidity and capital resources replace_table_token_13_th as of december 31 , 2019 and 2018 , we had $ 321.4 million and $ 280.4 million , respectively , in cash , cash equivalents and short-term investments , of which $ 250.4 million and $ 234.1 million , respectively , is located in foreign jurisdictions that upon distribution may be subject to withholding and other taxes and we do not currently intend to distribute such amounts . if , in the future , we change our intention regarding distributions , additional taxes may be required and would be recorded in the period the intention changes . operating activities : cash flows provided by operating activities were $ 168.4 million for the year ended december 31 , 2019 as compared to cash flows provided by operating activities of $ 92.4 million during the year ended december 31 , 2018. generally , factors that affect our earnings , for instance , pricing , volume of services , costs and productivity , affect our cash flows used or provided from operations in a similar manner . however , while management of working capital , including timing of collections and payments affects operating results only indirectly , the impact on the working capital requirements and cash flows provided by operating activities can be significant . cash flows provided by operating activities for the year ended december 31 , 2019 was $ 168.4 million . this comprised of net income plus the net effect of non-cash items , such as depreciation and amortization expense , stock-based compensation expense , amortization of operating lease right-of-use assets , unrealized gains on short-term investment , deferred income taxes , impairment charges and others aggregating to $ 156.2 million . the primary working capital use of cash of $ 34.1 million during the year ended december 31 , 2019 was driven by decrease in operating lease liabilities and increase in accounts receivables , and other 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.
     ```liquidity and capital resources replace_table_token_13_th as of december 31 , 2019 and 2018 , we had $ 321.4 million and $ 280.4 million , respectively , in cash , cash equivalents and short-term investments , of which $ 250.4 million and $ 234.1 million , respectively , is located in foreign jurisdictions that upon distribution may be subject to withholding and other taxes and we do not currently intend to distribute such amounts . if , in the future , we change our intention regarding distributions , additional taxes may be required and would be recorded in the period the intention changes . operating activities : cash flows provided by operating activities were $ 168.4 million for the year ended december 31 , 2019 as compared to cash flows provided by operating activities of $ 92.4 million during the year ended december 31 , 2018. generally , factors that affect our earnings , for instance , pricing , volume of services , costs and productivity , affect our cash flows used or provided from operations in a similar manner . however , while management of working capital , including timing of collections and payments affects operating results only indirectly , the impact on the working capital requirements and cash flows provided by operating activities can be significant . cash flows provided by operating activities for the year ended december 31 , 2019 was $ 168.4 million . this comprised of net income plus the net effect of non-cash items , such as depreciation and amortization expense , stock-based compensation expense , amortization of operating lease right-of-use assets , unrealized gains on short-term investment , deferred income taxes , impairment charges and others aggregating to $ 156.2 million . the primary working capital use of cash of $ 34.1 million during the year ended december 31 , 2019 was driven by decrease in operating lease liabilities and increase in accounts receivables , and other assets .
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 Suspicious Activity Report : we have no obligation to update any forward-looking statements in this annual report on form 10-k after the date of this annual report on form 10-k , except as required by federal securities laws . 34 executive overview we are a leading operations management and analytics company that helps our clients build and grow sustainable businesses . by orchestrating our domain expertise , data , analytics and digital technology , we look deeper to design and manage agile , customer-centric operating models to improve global operations , drive profitability , enhance customer satisfaction , increase data-driven insights , and manage risk and compliance . we serve customers in multiple industries , including insurance , healthcare , banking and financial services , utilities , travel , transportation and logistics , media and retail , among others . we operate in the business process management ( “ bpm ” ) industry and we provide operations management and analytics services . as described below , effective january 1 , 2020 , we realigned our operating and reportable segments , but the presentation in this annual report , including the discussion in the next two paragraphs , refers to the structure in place prior to such realignment . our eight operating segments are strategic business units that align our products and services with how we manage our business , approach our key markets and interact with our clients . five of those operating segments provide bpm or “ operations management ” services , which we organize into industry-focused operating segments ( insurance , healthcare , travel , transportation and logistics , banking and financial services , and utilities ) and one of the operating segments is a “ capability ” segment ( finance and accounting ) that provides services to clients in our industry-focused segments as well as clients across other industries . in each of these six operating segments we provide operations management services , which typically involve transfer to the company of business operations of a client , after which we administer and manage those operations for our client on an ongoing basis . our remaining two operating segments are consulting , which provides industry-specific digital transformational services related to operations management services , and our analytics operating segment , which provides services that focus on driving improved business outcomes for clients by generating data-driven insights across all parts of their business . we present information for the following reportable segments : insurance , healthcare , travel , transportation and logistics , finance and accounting , analytics , and all other ( consisting of our remaining operating segments , including our banking and financial services , utilities and consulting operating segments ) . effective january 1 , 2020 , we made certain operational and structural changes to more closely integrate our businesses and to simplify our organizational structure . we now manage and report financial information through our four strategic business units : insurance , healthcare , analytics and emerging business which reflects how management will review financial information and make operating decisions . these business units will develop client specific solutions , build capabilities , maintain a unified go-to-market approach and be integrally responsible for service delivery , customer satisfaction , growth and profitability . in line with our strategy of vertical integration and focus on domain expertise we have integrated our finance & accounting and consulting operating segments within each of the insurance and healthcare operating segments based on the respective industry-specific clients . finance & accounting and consulting services to clients outside of those industries , will now be part of our newly formed business unit and reportable segment ‘ emerging business ' . in addition , we integrated our former travel , transportation and logistics , banking and financial services , and utilities operating segments under “ emerging business ” to further leverage and optimize the operating scale in providing operations management services . our new reportable segments effective january 1 , 2020 are as follows : insurance , healthcare , analytics , and emerging business this change in segment presentation will not have any effect on our consolidated statements of income , balance sheets or statements of cash flows . the revised presentation will be reflected in our subsequent periodic and annual reports . for further information on our operating segments , see “ item 1. business . ” 35 our global delivery network , which includes highly trained industry and process specialists across the united states , latin america , south africa , europe and asia ( primarily india and the philippines ) , is a key asset . we have operations centers in india , the u.s. , the philippines , bulgaria , colombia , south africa , romania and the czech republic . on july 1 , 2018 , we completed the acquisition of scio pursuant to the merger agreement . the acquisition of scio is included in the analytics reportable segment . scio is a health analytics solution and services company serving healthcare organizations including providers , health plans , pharmacy benefit managers , employers , health services and global life sciences companies . on december 31 , 2019 , we completed substantially the previously announced wind down of the operations of the health integrated business , which is reported within the healthcare reportable segment . revenues for the year ended december 31 , 2019 , we had revenues of $ 991.3 million compared to revenues of $ 883.1 million for the year ended december 31 , 2018 , an increase of $ 108.2 million , or 12.3 % . we serve clients mainly in the u.s. and the u.k. , with these two regions generating 82.5 % and 11.4 % , respectively , of our total revenues for the year ended december 31 , 2019 and 83.0 % and 13.0 % , respectively , of our revenues for the year ended december 31 , 2018 . story_separator_special_tag the tax holiday expired for few of our centers in 2014 , 2016 , 2018 and in 2019 and will expire for other centers by year 2022 , which may lead to an increase in our overall tax rate . following the expiry of the tax exemption , income generated from centers in the philippines will be taxed at the prevailing annual tax rate , which as of december 31 , 2019 was 5 % of the gross income . we recognize deferred tax assets and liabilities for temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss carry forwards . we determine if a valuation allowance is required or not on the basis of an assessment of whether it is more likely than not that a deferred tax asset will be realized . 39 critical accounting policies and estimates the discussion and analysis of our financial condition and results of operations are based upon the financial statements included in this annual report on form 10-k , which have been prepared in accordance with u.s. generally accepted accounting principles ( “ u.s . gaap ” ) . a summary of our significant accounting policies is included in note 2 - “ summary of significant accounting policies ” to our consolidated financial statements . we consider the policies discussed below to be critical to an understanding of our consolidated financial statements , as their application places the most significant demands on management 's judgment regarding matters that are inherently uncertain at the time an estimate is made . these policies include revenue recognition , allowance for doubtful receivables , business combinations , goodwill , intangibles and long-lived assets , stock-based compensation , derivative instruments and hedging activity , borrowings , assumptions related to lease liabilities , rou assets , lease cost , income taxes and assets and obligations related to employee benefit plans . these accounting policies and the associated risks are set out below . future events may not develop exactly as forecasted and estimates routinely require adjustment . revenue recognition revenue is recognized when services are provided to our customers , in an amount that reflects the consideration which we expect to be entitled to in exchange for the services provided . revenue is measured based on consideration specified in a contract with a customer and excludes discounts and amounts collected on behalf of third parties . we recognize revenue when we satisfy a performance obligation by providing services to a customer . taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction , that are collected by us from a customer , are excluded from revenue . significant judgments arrangements with multiple performance obligations we sometimes enter into contracts with our clients which include promises to transfer multiple products and services to the client . determining whether products and services are considered as distinct performance obligations that should be accounted for separately rather than as one performance obligation may require significant judgment . the transaction price is allocated to performance obligations on relative standalone selling price basis . judgment is also required to determine the standalone selling price for each distinct performance obligation . in instances where the standalone selling price is not directly observable , it is determined using information that may include market conditions and other observable inputs . variable consideration variability in the transaction price arises primarily due to service level agreements , pre-payment and volume discounts . we consider our experience with similar transactions and expectations regarding the contract in estimating the amount of variable consideration that should be recognized during a period . we believe that the expected value method is most appropriate for determining the variable consideration since we have a large number of contracts with similar nature of transactions/services . type of contracts requires judgments a. revenues for our fixed-price contracts are recognized using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations . incurred cost represents work performed , which corresponds with , and thereby best depicts , the transfer of control to the client . the use of this method requires significant judgment to estimate the cost required to complete the contracted scope of work , including assumptions and estimates relative to the length of time to complete the project and the nature and complexity of the work to be performed and resources engaged . we regularly monitor these estimates throughout the execution of the project and record changes in the period in which a change in an estimate is determined . if a change in an estimate results in a projected loss on a project , such loss is recognized in the period in which it is first identified . 40 b. revenues from reimbursement optimization services having contingent fee arrangements are recognized by us at the point in time when a performance obligation is satisfied , which is when we identify an overpayment claim . in such contracts , our consideration is contingent upon the actual collections made by our customers and net of any subsequent retraction claims . based on guidance on “ variable consideration ” in topic 606 , we use our historical experience and projections to determine the expected recoveries from our customers and recognize revenue based upon such expected recoveries . any adjustment required due to change in estimates are recorded in the period in which such change is identified . for additional information , see note 5 ( revenues ) to our consolidated financial statements under item 8 , “ financial statements and supplementary data . ” unbilled receivables unbilled receivables represent revenues recognized for services rendered between the last billing date and the balance sheet date . unbilled receivables also include revenues recognized from reimbursement optimization services where we identify an overpayment claim . in such contracts , our consideration is contingent

