the connected home segment is focused on consumers and consists of high-performance , dependable and easy-to-use wifi internet networking solutions such as wifi mesh systems , routers , 4g/5g mobile products , smart devices such as meural digital canvasses , and subscription services , offering consumers a range of parental controls and cyber security for their home networks . the smb segment is focused on small and medium-sized businesses and consists of business networking , wireless lan , storage , and security solutions that bring enterprise-class functionality to small and medium-sized businesses at an affordable price . we conduct business across three geographic regions : americas ; europe , middle-east and africa ( “ emea ” ) and asia pacific ( “ apac ” ) . business overview the markets in which our segments operate are intensely competitive and subject to rapid technological change . we believe that the principal competitive factors in the consumer and small and medium business markets for networking products include product breadth , price points , size and scope of the sales channel , brand name , timeliness of new product introductions , product availability , performance , features , functionality and reliability , ease-of-installation , maintenance and use , security , and customer service and support . to remain competitive , we believe we must continue to aggressively invest resources in developing new products and subscription services , enhancing our current products , expanding our channels including our direct to consumer capabilities , increasing engagement with our customers and maintaining customer satisfaction worldwide . our investments reflect our enhanced focus on cybersecurity relating to our products and systems , as the threat of cyber-attacks and exploitation of potential security vulnerabilities in our industry is on the rise and is increasingly a significant consumer concern . 51 we sell our products through multiple sales channels worldwide , including traditional retailers , online retailers , wholesale distributors , direct market resellers ( “ dmrs ” ) , value-added resellers ( “ vars ” ) , broadband service providers and through our online platform at www.netgear.com . our retail channel includes traditional retail locations domestically and internationally , such as best buy , costco , wal m art , staples , office depot , target , fnac ( europe ) , mediamarkt ( europe ) , jb hifi ( australia ) , elkjop ( norway ) and sunning and guomei ( china ) . online retailers include amazon.com worldwide , newegg.com ( u . s . ) , jd.com and alibaba ( china ) , as well as coolblue.com ( netherlands ) . our dmrs include cdw corporation , insight corporation and pc connection in domestic markets . our main wholesale distributors include ingram micro , d & h , tech data , exertis ( u.k. ) and synnex . in addition , we also sell our products through broadband service providers , such as multiple system operators ( “ msos ” ) , xdsl , mobile , and other broadband technology operators domestically and internationally . some of these retailers and broadband service providers purchase directly from us , while others are fulfilled through wholesale distributors around the world . a substantial portion of our net revenue is derived from a limited number of wholesale distributors , service providers and retailers . while we expect these channels to continue to be a significant part of our sales strategy , we believe that the proportion of sales through e-commerce platforms will continue to grow in the foreseeable future . during the year ended december 31 , 2020 , our net revenue and income from operations increased by $ 256.4 million and $ 49.4 million , respectively , compared to the prior year . the strong increase in net revenue was primarily due to the robust demand for connected home products powered by unprecedented bandwidth consumption in the home where people transitioned to conducting the majority of their daily lives as a result of the covid-19 pandemic . the increase was partially offset by lower net revenue from smb products resulting from enforced business closures and delays to infrastructure investment by businesses experienced during the second and third fiscal quarters of 2020 as a result of covid-19 pandemic . the increase in net revenue generated an increase in gross profit of $ 77.9 million , partially offset by an increase of $ 28.6 million in operating expenses to support the higher net revenue achievement . higher variable compensation and freight out incurred to support the higher net revenue contributed to the increase in operating expenses . on a geographic basis , net revenue increased in americas and emea and decreased in apac during the year ended december 31 , 2020 , compared to the prior year . the increases in americas and emea were both mainly attributable to home wireless and mobile products , partially offset by lower net revenue of our switch products . the decrease in apac net revenue was primarily due to lower net revenue of broadband modem and gateway and switch products , partially offset by higher net revenue of home wireless products . covid-19 pandemic on march 11 , 2020 , the world health organization declared the covid-19 outbreak a pandemic . the covid-19 pandemic has negatively impacted the global economy , disrupted global supply chains and work force participation and created significant volatility and disruption in financial markets . the onset of the covid-19 pandemic initially impacted our supply chain partners , lowering finished good receipts by approximately 30 % compared to planned receipts in the first quarter of 2020. at the same time , we saw a significant increase in airfreight rates to transport supply as a result of reduced capacity by carriers . starting in march 2020 , the spread of the pandemic to the u.s. and mainland europe resulted in a surge in demand for connected home products as consumers responded to work from home and shelter-in-place measures . story_separator_special_tag the carrying value of the asset is reviewed on a regular basis for the existence of facts , both internal and external , that may suggest impairment . during the year ended december 31 , 2020 , there were no events or changes in circumstances that indicated the carrying amount of our long-lived assets may not be recoverable from their undiscounted cash flows . consequently , we did not perform an impairment test . we reviewed the depreciation and amortization policies for the long-lived asset groups and ensured the remaining useful lives are appropriate . w e did not record any impairments to our long-lived assets during the years ended december 31 , 2020 , 2019 and 2018. we will continue to evaluate the carrying value of our long-lived assets and if we determine in the future that there is a potential impairment , we may be required to record additional charges to earnings which could affect our financial results . income taxes we account for income taxes under an asset and liability approach . under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year . in addition , deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences resulting from different treatments for tax versus accounting of certain items , such as accruals and allowances not currently deductible for tax purposes . these differences result in deferred tax assets and liabilities , which are included within the consolidated balance sheets . we must then assess the likelihood that our deferred tax assets will be recovered from future taxable income and to the extent we believe that recovery is not more likely than not , we must establish a valuation allowance . our assessment considers the recognition of deferred tax assets on a jurisdictional basis . accordingly , in assessing our future taxable income on a jurisdictional basis , we consider the effect of its transfer pricing policies on that income . we have recorded a valuation allowance against certain federal and california deferred tax assets since the recovery of the assets is uncertain . we believe that all of our other deferred tax assets are recoverable ; however , if there were a change in our ability to recover our deferred tax assets , we would be required to take a charge in the period in which we determined that recovery was not more likely than not . uncertain tax provisions are recognized under guidance that provides that a company should use a more-likely-than-not recognition threshold based on the technical merits of the income tax position taken . income tax positions that meet the more-likely-than-not recognition threshold should be measured in order to determine the tax benefit to be recognized in the financial statements . we include interest expense and penalties related to uncertain tax positions as additional tax expense . the company made an accounting policy election related to accounting for the tax effects of global intangible low-taxed income ( “ gilti ” ) that was implemented as part of the tax cuts and jobs act of 2017 ( the “ tax act ” ) , enacted on december 22 , 2017. with regard to gilti , the company accounts for the tax effects as a period cost , if and when incurred . 56 results of operations the following table sets forth , for the periods presented , the consolidated statements of continuing operations data , which is derived from the accompanying consolidated financial statements : replace_table_token_5_th net revenue by geographic region our net revenue consists of gross product shipments and service revenue , less allowances for estimated sales returns , price protection , end-user customer rebates and other channel sales incentives deemed to be a reduction of net revenue per the authoritative guidance for revenue recognition , and net changes in deferred revenue . we conduct business across three geographic regions : americas , emea and apac . for reporting purposes , revenue is generally attributed to each geographic region based upon the location of the customer . replace_table_token_6_th 2020 vs 2019 net revenue in americas increased for the year ended december 31 , 2020 , compared to the prior year , largely due to increased demand for our connected home products in response to work and schooling from home mandates resulting from the covid-19 pandemic . the surge in demand that began in march 2020 continued throughout the fiscal year and resulted in strong growth in both the consumer and service provider channels . the increase was partially offset by lower smb net revenue as the pandemic negatively impacted demand in the smb segment , partially due to enforced business closures and delays to infrastructure investment experienced in the second and third fiscal quarters of 2020. connected home net revenue in americas increased by 48.8 % for the year ended december 31 , 2020 , compared to the prior year . we experienced strong consumer demand for our home wireless 57 products , especially wifi 6 mesh systems , wifi 6 routers and extenders across all channels , including our own direct platforms on netgear.com . growth in service provider channels was mainly driven by mobile products as a direct response to the pandemic to support applications such as distance learning and first responders ' activities . smb net revenue in americas decreased by 1 0.9 % for the year ended december 31 , 2020 , compared to the prior year , primarily due to lower net revenue of our switch products . net revenue in emea increased for the year ended december 31 , 2020 , compared to the prior year . connected home in emea net revenue increased by 41.9 % mainly driven by higher net revenue in both consumer and service provider channels from mobile and home wireless products in response to work from home and shelter-in-place measures . smb net revenue in emea declined

liquidity and capital resources our principal sources of liquidity are cash , cash equivalents , short-term investments and cash generated from operations . as of december 31 , 2020 , we had cash , cash equivalents and short-term investment of $ 353.3 million , an increase of $ 157.6 million from december 31 , 2019. the increase was primarily due to higher net income and positive working capital movements . as of december 31 , 2020 , approximately 37 % of our cash and cash equivalents and short-term investments were outside of the u.s. the cash and cash equivalents and short-term investments balances outside of the u.s. are subject to fluctuation based on the settlement of intercompany balances . as we repatriate these funds in accordance with our designation of funds not permanently reinvested outside of the u.s. , we will be required to pay income taxes in certain u.s. states and applicable foreign withholding taxes during the period when such repatriation occurs . we have recorded deferred taxes for the tax effect of repatriating the funds to the u.s. the following table presents our cash flows for the periods presented : replace_table_token_16_th continuing operating activities net cash provided by continuing operating activities was $ 181.2 million for fiscal 2020 , compared to $ 13.5 million in fiscal 2019 , primarily due to higher net income and favorable working capital movements . the higher net cash inflow from working capital was mainly driven by lower inventory holding , lower payments to trade suppliers and other accrued liabilities , partially offset by higher accounts receivable . net cash provided by continuing operating activities was $ 13.5 million for fiscal 2019 as compared to net cash used in continuing operating activities of $ 15.1 million in fiscal 2018. the increase in cash inflows from continuing operating activities was primarily due to favorable working capital movements and higher net income . the lower net cash outflow from working capital 65 was mainly driven by lower account receivables and lower inventory holding , partially offset by higher payments to trade suppliers .


 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 our principal sources of liquidity are cash , cash equivalents , short-term investments and cash generated from operations . as of december 31 , 2020 , we had cash , cash equivalents and short-term investment of $ 353.3 million , an increase of $ 157.6 million from december 31 , 2019. the increase was primarily due to higher net income and positive working capital movements . as of december 31 , 2020 , approximately 37 % of our cash and cash equivalents and short-term investments were outside of the u.s. the cash and cash equivalents and short-term investments balances outside of the u.s. are subject to fluctuation based on the settlement of intercompany balances . as we repatriate these funds in accordance with our designation of funds not permanently reinvested outside of the u.s. , we will be required to pay income taxes in certain u.s. states and applicable foreign withholding taxes during the period when such repatriation occurs . we have recorded deferred taxes for the tax effect of repatriating the funds to the u.s. the following table presents our cash flows for the periods presented : replace_table_token_16_th continuing operating activities net cash provided by continuing operating activities was $ 181.2 million for fiscal 2020 , compared to $ 13.5 million in fiscal 2019 , primarily due to higher net income and favorable working capital movements . the higher net cash inflow from working capital was mainly driven by lower inventory holding , lower payments to trade suppliers and other accrued liabilities , partially offset by higher accounts receivable . net cash provided by continuing operating activities was $ 13.5 million for fiscal 2019 as compared to net cash used in continuing operating activities of $ 15.1 million in fiscal 2018. the increase in cash inflows from continuing operating activities was primarily due to favorable working capital movements and higher net income . the lower net cash outflow from working capital 65 was mainly driven by lower account receivables and lower inventory holding , partially offset by higher payments to trade suppliers .
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 Suspicious Activity Report : the connected home segment is focused on consumers and consists of high-performance , dependable and easy-to-use wifi internet networking solutions such as wifi mesh systems , routers , 4g/5g mobile products , smart devices such as meural digital canvasses , and subscription services , offering consumers a range of parental controls and cyber security for their home networks . the smb segment is focused on small and medium-sized businesses and consists of business networking , wireless lan , storage , and security solutions that bring enterprise-class functionality to small and medium-sized businesses at an affordable price . we conduct business across three geographic regions : americas ; europe , middle-east and africa ( “ emea ” ) and asia pacific ( “ apac ” ) . business overview the markets in which our segments operate are intensely competitive and subject to rapid technological change . we believe that the principal competitive factors in the consumer and small and medium business markets for networking products include product breadth , price points , size and scope of the sales channel , brand name , timeliness of new product introductions , product availability , performance , features , functionality and reliability , ease-of-installation , maintenance and use , security , and customer service and support . to remain competitive , we believe we must continue to aggressively invest resources in developing new products and subscription services , enhancing our current products , expanding our channels including our direct to consumer capabilities , increasing engagement with our customers and maintaining customer satisfaction worldwide . our investments reflect our enhanced focus on cybersecurity relating to our products and systems , as the threat of cyber-attacks and exploitation of potential security vulnerabilities in our industry is on the rise and is increasingly a significant consumer concern . 51 we sell our products through multiple sales channels worldwide , including traditional retailers , online retailers , wholesale distributors , direct market resellers ( “ dmrs ” ) , value-added resellers ( “ vars ” ) , broadband service providers and through our online platform at www.netgear.com . our retail channel includes traditional retail locations domestically and internationally , such as best buy , costco , wal m art , staples , office depot , target , fnac ( europe ) , mediamarkt ( europe ) , jb hifi ( australia ) , elkjop ( norway ) and sunning and guomei ( china ) . online retailers include amazon.com worldwide , newegg.com ( u . s . ) , jd.com and alibaba ( china ) , as well as coolblue.com ( netherlands ) . our dmrs include cdw corporation , insight corporation and pc connection in domestic markets . our main wholesale distributors include ingram micro , d & h , tech data , exertis ( u.k. ) and synnex . in addition , we also sell our products through broadband service providers , such as multiple system operators ( “ msos ” ) , xdsl , mobile , and other broadband technology operators domestically and internationally . some of these retailers and broadband service providers purchase directly from us , while others are fulfilled through wholesale distributors around the world . a substantial portion of our net revenue is derived from a limited number of wholesale distributors , service providers and retailers . while we expect these channels to continue to be a significant part of our sales strategy , we believe that the proportion of sales through e-commerce platforms will continue to grow in the foreseeable future . during the year ended december 31 , 2020 , our net revenue and income from operations increased by $ 256.4 million and $ 49.4 million , respectively , compared to the prior year . the strong increase in net revenue was primarily due to the robust demand for connected home products powered by unprecedented bandwidth consumption in the home where people transitioned to conducting the majority of their daily lives as a result of the covid-19 pandemic . the increase was partially offset by lower net revenue from smb products resulting from enforced business closures and delays to infrastructure investment by businesses experienced during the second and third fiscal quarters of 2020 as a result of covid-19 pandemic . the increase in net revenue generated an increase in gross profit of $ 77.9 million , partially offset by an increase of $ 28.6 million in operating expenses to support the higher net revenue achievement . higher variable compensation and freight out incurred to support the higher net revenue contributed to the increase in operating expenses . on a geographic basis , net revenue increased in americas and emea and decreased in apac during the year ended december 31 , 2020 , compared to the prior year . the increases in americas and emea were both mainly attributable to home wireless and mobile products , partially offset by lower net revenue of our switch products . the decrease in apac net revenue was primarily due to lower net revenue of broadband modem and gateway and switch products , partially offset by higher net revenue of home wireless products . covid-19 pandemic on march 11 , 2020 , the world health organization declared the covid-19 outbreak a pandemic . the covid-19 pandemic has negatively impacted the global economy , disrupted global supply chains and work force participation and created significant volatility and disruption in financial markets . the onset of the covid-19 pandemic initially impacted our supply chain partners , lowering finished good receipts by approximately 30 % compared to planned receipts in the first quarter of 2020. at the same time , we saw a significant increase in airfreight rates to transport supply as a result of reduced capacity by carriers . starting in march 2020 , the spread of the pandemic to the u.s. and mainland europe resulted in a surge in demand for connected home products as consumers responded to work from home and shelter-in-place measures . story_separator_special_tag the carrying value of the asset is reviewed on a regular basis for the existence of facts , both internal and external , that may suggest impairment . during the year ended december 31 , 2020 , there were no events or changes in circumstances that indicated the carrying amount of our long-lived assets may not be recoverable from their undiscounted cash flows . consequently , we did not perform an impairment test . we reviewed the depreciation and amortization policies for the long-lived asset groups and ensured the remaining useful lives are appropriate . w e did not record any impairments to our long-lived assets during the years ended december 31 , 2020 , 2019 and 2018. we will continue to evaluate the carrying value of our long-lived assets and if we determine in the future that there is a potential impairment , we may be required to record additional charges to earnings which could affect our financial results . income taxes we account for income taxes under an asset and liability approach . under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year . in addition , deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences resulting from different treatments for tax versus accounting of certain items , such as accruals and allowances not currently deductible for tax purposes . these differences result in deferred tax assets and liabilities , which are included within the consolidated balance sheets . we must then assess the likelihood that our deferred tax assets will be recovered from future taxable income and to the extent we believe that recovery is not more likely than not , we must establish a valuation allowance . our assessment considers the recognition of deferred tax assets on a jurisdictional basis . accordingly , in assessing our future taxable income on a jurisdictional basis , we consider the effect of its transfer pricing policies on that income . we have recorded a valuation allowance against certain federal and california deferred tax assets since the recovery of the assets is uncertain . we believe that all of our other deferred tax assets are recoverable ; however , if there were a change in our ability to recover our deferred tax assets , we would be required to take a charge in the period in which we determined that recovery was not more likely than not . uncertain tax provisions are recognized under guidance that provides that a company should use a more-likely-than-not recognition threshold based on the technical merits of the income tax position taken . income tax positions that meet the more-likely-than-not recognition threshold should be measured in order to determine the tax benefit to be recognized in the financial statements . we include interest expense and penalties related to uncertain tax positions as additional tax expense . the company made an accounting policy election related to accounting for the tax effects of global intangible low-taxed income ( “ gilti ” ) that was implemented as part of the tax cuts and jobs act of 2017 ( the “ tax act ” ) , enacted on december 22 , 2017. with regard to gilti , the company accounts for the tax effects as a period cost , if and when incurred . 56 results of operations the following table sets forth , for the periods presented , the consolidated statements of continuing operations data , which is derived from the accompanying consolidated financial statements : replace_table_token_5_th net revenue by geographic region our net revenue consists of gross product shipments and service revenue , less allowances for estimated sales returns , price protection , end-user customer rebates and other channel sales incentives deemed to be a reduction of net revenue per the authoritative guidance for revenue recognition , and net changes in deferred revenue . we conduct business across three geographic regions : americas , emea and apac . for reporting purposes , revenue is generally attributed to each geographic region based upon the location of the customer . replace_table_token_6_th 2020 vs 2019 net revenue in americas increased for the year ended december 31 , 2020 , compared to the prior year , largely due to increased demand for our connected home products in response to work and schooling from home mandates resulting from the covid-19 pandemic . the surge in demand that began in march 2020 continued throughout the fiscal year and resulted in strong growth in both the consumer and service provider channels . the increase was partially offset by lower smb net revenue as the pandemic negatively impacted demand in the smb segment , partially due to enforced business closures and delays to infrastructure investment experienced in the second and third fiscal quarters of 2020. connected home net revenue in americas increased by 48.8 % for the year ended december 31 , 2020 , compared to the prior year . we experienced strong consumer demand for our home wireless 57 products , especially wifi 6 mesh systems , wifi 6 routers and extenders across all channels , including our own direct platforms on netgear.com . growth in service provider channels was mainly driven by mobile products as a direct response to the pandemic to support applications such as distance learning and first responders ' activities . smb net revenue in americas decreased by 1 0.9 % for the year ended december 31 , 2020 , compared to the prior year , primarily due to lower net revenue of our switch products . net revenue in emea increased for the year ended december 31 , 2020 , compared to the prior year . connected home in emea net revenue increased by 41.9 % mainly driven by higher net revenue in both consumer and service provider channels from mobile and home wireless products in response to work from home and shelter-in-place measures . smb net revenue in emea declined

