on january 3 , 2020 , we acquired hemacare corporation ( hemacare ) , a business specializing in the production of human-derived cellular products for the cell therapy market . the acquisition of hemacare will expand our comprehensive portfolio of early-stage research and manufacturing support solutions to encompass the production and customization of high-quality , human derived cellular products to better support clients ' cell therapy programs . the preliminary purchase price of hemacare was approximately $ 380 million in cash . the acquisition was funded through a combination of cash on hand and proceeds from our credit facility under the multi-currency revolving facility . this business will be reported as part of our rms reportable segment . 32 on august 28 , 2019 , we acquired an 80 % ownership interest in a supplier that supports our dsa reportable segment . the remaining 20 % interest is a redeemable non-controlling interest . the preliminary purchase price was $ 23.4 million , net of a $ 4.0 million pre-existing relationship for a supply agreement settled upon acquisition , and subject to certain post-closing adjustments that may change the purchase price . the acquisition was funded through a combination of cash on hand and proceeds from our credit facility under the multi-currency revolving facility . the business is reported as part of our dsa reportable segment . on april 29 , 2019 , we acquired citoxlab , a non-clinical cro , specializing in regulated safety assessment services , non-regulated discovery services , and medical device testing . with operations in europe and north america , the acquisition of citoxlab further strengthens our position as a leading , global , early-stage cro by expanding our scientific portfolio and geographic footprint , which enhances our ability to partner with clients across the drug discovery and development continuum . the preliminary purchase price for citoxlab was $ 527.7 million in cash , subject to certain post-closing adjustments that may change the purchase price . the acquisition was funded through a combination of cash on hand and proceeds from our credit facility under the multi-currency revolving facility . citoxlab is reported as part of our dsa reportable segment . on april 3 , 2018 , we acquired mpi research , a non-clinical cro providing comprehensive testing services to biopharmaceutical and medical device companies worldwide . the acquisition enhances our position as a leading global early-stage cro by strengthening our ability to partner with clients across the drug discovery and development continuum . the purchase price for mpi research was $ 829.7 million in cash . the acquisition was funded by borrowings on our credit facility as well as the issuance of $ 500.0 million of 5.5 % senior notes due 2026 ( 2026 senior notes ) in an unregistered offering . mpi research is reported as part of our dsa reportable segment . on january 11 , 2018 , we acquired kws biotest limited ( kws biotest ) , a cro specializing in in vitro and in vivo discovery testing services for immuno-oncology , inflammatory and infectious diseases . the acquisition enhances our discovery expertise , with complementary offerings that provide our customers with additional tools in the active therapeutic research areas of oncology and immunology . the purchase price for kws biotest was $ 20.3 million in cash . in addition to the initial purchase price , the transaction included aggregate , undiscounted contingent payments of up to £ 3.0 million based on future performance . during the three months ended september 29 , 2018 , the terms of these contingent payments were amended , resulting in a fixed payment of £ 2.0 million , or $ 2.6 million , which was paid during the three months ended march 30 , 2019. the kws biotest business is reported as part of our dsa reportable segment . on august 4 , 2017 , we acquired brains on-line , a cro providing critical data that advances novel therapeutics for the treatment of central nervous system ( cns ) diseases . brains on-line strategically expands our existing cns capabilities and establishes us as a single-source provider for a broad portfolio of discovery cns services . the purchase price for brains on-line was $ 21.3 million in cash . in addition to the initial purchase price , the transaction included aggregate , undiscounted contingent payments of up to 6.7 million based on future performance . during the first quarter of fiscal year 2019 , the terms of these contingent payments were amended , resulting in a fixed payment of $ 2.6 million , which was paid during the three months ended june 29 , 2019. the brains on-line business is reported as part of our dsa reportable segment . on february 10 , 2017 , we completed the divestiture of our cdmo business to quotient clinical ltd. , based in london , england for $ 75.0 million in proceeds , net of cash , cash equivalents , and working capital adjustments . the cdmo business was acquired in april 2016 as part of the acquisition of wil research and was reported in our manufacturing reportable segment . fiscal quarters our fiscal year is typically based on 52-week s , with each quarter comp osed of 13 weeks ending on the last saturday on , or closest to , march 31 , june 30 , september 30 , and december 31. a 53 rd week was included in the fourth quarter of fiscal year 2016 , which is occasionally necessary to align with a december 31 calendar year-end . business trends the demand for our products and services continued to increase meaningfully in fiscal year 2019. our pharmaceutical and biotechnology clients continued to intensify their use of strategic outsourcing to improve their operating efficiency and to access capabilities that they do not maintain internally . story_separator_special_tag the ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible . in making this determination , under the applicable financial accounting standards , we are allowed to consider the scheduled reversal of deferred tax liabilities , projected 36 future taxable income , and the effects of tax planning strategies . in the event that actual results differ from our estimates , we adjust our estimates in future periods and we may need to establish a valuation allowance , which could materially impact our financial position and results of operations . our valuation allowance increased by $ 300.2 million from $ 9.8 million as of december 29 , 2018 to $ 310.0 million as of december 28 , 2019 . the increase is primarily related to the recognition of $ 315.5 million of net operating loss deferred tax assets due to changes in our financing structure , $ 294.9 million of which we do not believe is more likely than not to be utilized . we account for uncertain tax positions using a “ more-likely-than-not ” threshold for recognizing and resolving uncertain tax positions . we evaluate uncertain tax positions on a quarterly basis and consider various factors , that include , but are not limited to , changes in tax law , the measurement of tax positions taken or expected to be taken in tax returns , the effective settlement of matters subject to audit , information obtained during in process audit activities and changes in facts or circumstances related to a tax position . we adjust the level of the liability to reflect any subsequent changes in the relevant facts surrounding the uncertain positions . our liabilities for uncertain tax positions can be relieved only if the contingency becomes legally extinguished through either payment to the taxing authority or the expiration of the statute of limitations , the recognition of the benefits associated with the position meet the “ more-likely-than-not ” threshold or the liability becomes effectively settled through the controversy process . we consider matters to be effectively settled once the taxing authority has completed all of its required or expected examination procedures , including all appeals and administrative reviews ; we have no plans to appeal or litigate any aspect of the tax position ; and we believe that it is highly unlikely that the taxing authority would re-examine the related tax position . we also accrue for potential interest and penalties related to unrecognized tax benefits in income tax expense . on december 22 , 2017 , the u.s. government enacted comprehensive tax legislation commonly referred to as u.s. tax reform . u.s. tax reform made broad and complex changes to the u.s. tax code , including , but not limited to , ( i ) reducing the u.s. federal statutory tax rate from 35 % to 21 % ; ( ii ) requiring companies to pay a one-time transition tax ( transition tax ) on certain unrepatriated earnings of foreign subsidiaries ; ( iii ) generally eliminating u.s federal income taxes on dividends from foreign subsidiaries ; ( iv ) requiring a current inclusion in u.s. federal taxable income of certain earnings of controlled foreign corporations ; ( v ) eliminating the corporate alternative minimum tax ( amt ) and changing how existing amt credits can be realized ; ( vi ) subjecting certain foreign earnings to u.s. taxation through base erosion anti-abuse tax ( beat ) and global intangible low-taxed income ( gilti ) ; ( vii ) creating a new limitation on deductible interest expense ; ( viii ) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after december 31 , 2017 , and ( ix ) modifying the officer 's compensation limitation . our accounting for the elements of u.s. tax reform is complete . we have made an accounting policy election to treat taxes due on the gilti inclusion as a current period expense . see note 11 , “ income taxes ” for further discussion . goodwill and intangible assets we use assumptions and estimates in determining the fair value of assets acquired and liabilities assumed in a business combination . the determination of the fair value of intangible assets , which represent a significant portion of the purchase price in many of our acquisitions , requires the use of significant judgment with regard to ( i ) the fair value ; and ( ii ) whether such intangibles are amortizable or non-amortizable and , if the former , the period and the method by which the intangible asset will be amortized . we utilize commonly accepted valuation techniques , such as the income approach and the cost approach , as appropriate , in establishing the fair value of intangible assets . typically , key assumptions include projections of cash flows that arise from identifiable intangible assets of acquired businesses as well as discount rates based on an analysis of the weighted average cost of capital , adjusted for specific risks associated with the assets . in our recent acquisitions , customer relationship intangible assets ( also referred to as client relationships ) have been the most significant identifiable assets acquired . to determine the fair value of the acquired client relationships , we utilized the multiple period excess earnings model ( a commonly accepted valuation technique ) , which includes the following key assumptions : projections of cash flows from the acquired entities , which included future revenue growth rates , operating income margins , and customer attrition rates ; as well as discount rates based on an analysis of the acquired entities ' weighted average cost of capital . the value of client relationships acquired were $ 134.6 million for citoxlab in fiscal year 2019 and $ 264.9 million for mpi research in fiscal year 2018. we review definite-lived intangible assets for impairment

cash flows the following table presents our net cash provided by operating activities : replace_table_token_19_th net cash provided by cash flows from operating activities represents the cash receipts and disbursements related to all of our activities other than investing and financing activities . operating cash flow is derived by adjusting our income from continuing operations for ( 1 ) non-cash operating items such as depreciation and amortization , stock-based compensation , deferred income taxes , gains on venture capital investments and divestiture , and impairment charges , as well as ( 2 ) changes in operating assets and liabilities , which reflect timing differences between the receipt and payment of cash associated with transactions and when they are recognized in our results of operations . for fiscal year 2019 , compared to fiscal year 2018 , the increase in net cash provided by operating activities was primarily driven by an increase in income from continuing operations , net of income taxes 47 and the favorable timing of vendor and supplier payments compared to the same period in 2018 ; partially offset by unfavorable changes in operating assets and liabilities , specifically related to the timing of net contract balances from contracts with customers ( collectively trade receivables , net ; deferred revenue ; and customer contract deposits ) , increases in inventory levels in response to customer demand , and higher compensation payments compared to the prior year period . the increase in net cash provided by operating activities from fiscal year 2017 to 2018 was primarily driven by an increase in income from continuing operations and positive changes in operating assets and liabilities resulting from an increase in our deferred revenue ( primarily due to a one-time up-front payment received in connection with a strategic agreement ) , an increase in customer contract deposits , as well as improved collections of our receivables .


 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 the following table presents our net cash provided by operating activities : replace_table_token_19_th net cash provided by cash flows from operating activities represents the cash receipts and disbursements related to all of our activities other than investing and financing activities . operating cash flow is derived by adjusting our income from continuing operations for ( 1 ) non-cash operating items such as depreciation and amortization , stock-based compensation , deferred income taxes , gains on venture capital investments and divestiture , and impairment charges , as well as ( 2 ) changes in operating assets and liabilities , which reflect timing differences between the receipt and payment of cash associated with transactions and when they are recognized in our results of operations . for fiscal year 2019 , compared to fiscal year 2018 , the increase in net cash provided by operating activities was primarily driven by an increase in income from continuing operations , net of income taxes 47 and the favorable timing of vendor and supplier payments compared to the same period in 2018 ; partially offset by unfavorable changes in operating assets and liabilities , specifically related to the timing of net contract balances from contracts with customers ( collectively trade receivables , net ; deferred revenue ; and customer contract deposits ) , increases in inventory levels in response to customer demand , and higher compensation payments compared to the prior year period . the increase in net cash provided by operating activities from fiscal year 2017 to 2018 was primarily driven by an increase in income from continuing operations and positive changes in operating assets and liabilities resulting from an increase in our deferred revenue ( primarily due to a one-time up-front payment received in connection with a strategic agreement ) , an increase in customer contract deposits , as well as improved collections of our receivables .
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 Suspicious Activity Report : on january 3 , 2020 , we acquired hemacare corporation ( hemacare ) , a business specializing in the production of human-derived cellular products for the cell therapy market . the acquisition of hemacare will expand our comprehensive portfolio of early-stage research and manufacturing support solutions to encompass the production and customization of high-quality , human derived cellular products to better support clients ' cell therapy programs . the preliminary purchase price of hemacare was approximately $ 380 million in cash . the acquisition was funded through a combination of cash on hand and proceeds from our credit facility under the multi-currency revolving facility . this business will be reported as part of our rms reportable segment . 32 on august 28 , 2019 , we acquired an 80 % ownership interest in a supplier that supports our dsa reportable segment . the remaining 20 % interest is a redeemable non-controlling interest . the preliminary purchase price was $ 23.4 million , net of a $ 4.0 million pre-existing relationship for a supply agreement settled upon acquisition , and subject to certain post-closing adjustments that may change the purchase price . the acquisition was funded through a combination of cash on hand and proceeds from our credit facility under the multi-currency revolving facility . the business is reported as part of our dsa reportable segment . on april 29 , 2019 , we acquired citoxlab , a non-clinical cro , specializing in regulated safety assessment services , non-regulated discovery services , and medical device testing . with operations in europe and north america , the acquisition of citoxlab further strengthens our position as a leading , global , early-stage cro by expanding our scientific portfolio and geographic footprint , which enhances our ability to partner with clients across the drug discovery and development continuum . the preliminary purchase price for citoxlab was $ 527.7 million in cash , subject to certain post-closing adjustments that may change the purchase price . the acquisition was funded through a combination of cash on hand and proceeds from our credit facility under the multi-currency revolving facility . citoxlab is reported as part of our dsa reportable segment . on april 3 , 2018 , we acquired mpi research , a non-clinical cro providing comprehensive testing services to biopharmaceutical and medical device companies worldwide . the acquisition enhances our position as a leading global early-stage cro by strengthening our ability to partner with clients across the drug discovery and development continuum . the purchase price for mpi research was $ 829.7 million in cash . the acquisition was funded by borrowings on our credit facility as well as the issuance of $ 500.0 million of 5.5 % senior notes due 2026 ( 2026 senior notes ) in an unregistered offering . mpi research is reported as part of our dsa reportable segment . on january 11 , 2018 , we acquired kws biotest limited ( kws biotest ) , a cro specializing in in vitro and in vivo discovery testing services for immuno-oncology , inflammatory and infectious diseases . the acquisition enhances our discovery expertise , with complementary offerings that provide our customers with additional tools in the active therapeutic research areas of oncology and immunology . the purchase price for kws biotest was $ 20.3 million in cash . in addition to the initial purchase price , the transaction included aggregate , undiscounted contingent payments of up to £ 3.0 million based on future performance . during the three months ended september 29 , 2018 , the terms of these contingent payments were amended , resulting in a fixed payment of £ 2.0 million , or $ 2.6 million , which was paid during the three months ended march 30 , 2019. the kws biotest business is reported as part of our dsa reportable segment . on august 4 , 2017 , we acquired brains on-line , a cro providing critical data that advances novel therapeutics for the treatment of central nervous system ( cns ) diseases . brains on-line strategically expands our existing cns capabilities and establishes us as a single-source provider for a broad portfolio of discovery cns services . the purchase price for brains on-line was $ 21.3 million in cash . in addition to the initial purchase price , the transaction included aggregate , undiscounted contingent payments of up to 6.7 million based on future performance . during the first quarter of fiscal year 2019 , the terms of these contingent payments were amended , resulting in a fixed payment of $ 2.6 million , which was paid during the three months ended june 29 , 2019. the brains on-line business is reported as part of our dsa reportable segment . on february 10 , 2017 , we completed the divestiture of our cdmo business to quotient clinical ltd. , based in london , england for $ 75.0 million in proceeds , net of cash , cash equivalents , and working capital adjustments . the cdmo business was acquired in april 2016 as part of the acquisition of wil research and was reported in our manufacturing reportable segment . fiscal quarters our fiscal year is typically based on 52-week s , with each quarter comp osed of 13 weeks ending on the last saturday on , or closest to , march 31 , june 30 , september 30 , and december 31. a 53 rd week was included in the fourth quarter of fiscal year 2016 , which is occasionally necessary to align with a december 31 calendar year-end . business trends the demand for our products and services continued to increase meaningfully in fiscal year 2019. our pharmaceutical and biotechnology clients continued to intensify their use of strategic outsourcing to improve their operating efficiency and to access capabilities that they do not maintain internally . story_separator_special_tag the ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible . in making this determination , under the applicable financial accounting standards , we are allowed to consider the scheduled reversal of deferred tax liabilities , projected 36 future taxable income , and the effects of tax planning strategies . in the event that actual results differ from our estimates , we adjust our estimates in future periods and we may need to establish a valuation allowance , which could materially impact our financial position and results of operations . our valuation allowance increased by $ 300.2 million from $ 9.8 million as of december 29 , 2018 to $ 310.0 million as of december 28 , 2019 . the increase is primarily related to the recognition of $ 315.5 million of net operating loss deferred tax assets due to changes in our financing structure , $ 294.9 million of which we do not believe is more likely than not to be utilized . we account for uncertain tax positions using a “ more-likely-than-not ” threshold for recognizing and resolving uncertain tax positions . we evaluate uncertain tax positions on a quarterly basis and consider various factors , that include , but are not limited to , changes in tax law , the measurement of tax positions taken or expected to be taken in tax returns , the effective settlement of matters subject to audit , information obtained during in process audit activities and changes in facts or circumstances related to a tax position . we adjust the level of the liability to reflect any subsequent changes in the relevant facts surrounding the uncertain positions . our liabilities for uncertain tax positions can be relieved only if the contingency becomes legally extinguished through either payment to the taxing authority or the expiration of the statute of limitations , the recognition of the benefits associated with the position meet the “ more-likely-than-not ” threshold or the liability becomes effectively settled through the controversy process . we consider matters to be effectively settled once the taxing authority has completed all of its required or expected examination procedures , including all appeals and administrative reviews ; we have no plans to appeal or litigate any aspect of the tax position ; and we believe that it is highly unlikely that the taxing authority would re-examine the related tax position . we also accrue for potential interest and penalties related to unrecognized tax benefits in income tax expense . on december 22 , 2017 , the u.s. government enacted comprehensive tax legislation commonly referred to as u.s. tax reform . u.s. tax reform made broad and complex changes to the u.s. tax code , including , but not limited to , ( i ) reducing the u.s. federal statutory tax rate from 35 % to 21 % ; ( ii ) requiring companies to pay a one-time transition tax ( transition tax ) on certain unrepatriated earnings of foreign subsidiaries ; ( iii ) generally eliminating u.s federal income taxes on dividends from foreign subsidiaries ; ( iv ) requiring a current inclusion in u.s. federal taxable income of certain earnings of controlled foreign corporations ; ( v ) eliminating the corporate alternative minimum tax ( amt ) and changing how existing amt credits can be realized ; ( vi ) subjecting certain foreign earnings to u.s. taxation through base erosion anti-abuse tax ( beat ) and global intangible low-taxed income ( gilti ) ; ( vii ) creating a new limitation on deductible interest expense ; ( viii ) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after december 31 , 2017 , and ( ix ) modifying the officer 's compensation limitation . our accounting for the elements of u.s. tax reform is complete . we have made an accounting policy election to treat taxes due on the gilti inclusion as a current period expense . see note 11 , “ income taxes ” for further discussion . goodwill and intangible assets we use assumptions and estimates in determining the fair value of assets acquired and liabilities assumed in a business combination . the determination of the fair value of intangible assets , which represent a significant portion of the purchase price in many of our acquisitions , requires the use of significant judgment with regard to ( i ) the fair value ; and ( ii ) whether such intangibles are amortizable or non-amortizable and , if the former , the period and the method by which the intangible asset will be amortized . we utilize commonly accepted valuation techniques , such as the income approach and the cost approach , as appropriate , in establishing the fair value of intangible assets . typically , key assumptions include projections of cash flows that arise from identifiable intangible assets of acquired businesses as well as discount rates based on an analysis of the weighted average cost of capital , adjusted for specific risks associated with the assets . in our recent acquisitions , customer relationship intangible assets ( also referred to as client relationships ) have been the most significant identifiable assets acquired . to determine the fair value of the acquired client relationships , we utilized the multiple period excess earnings model ( a commonly accepted valuation technique ) , which includes the following key assumptions : projections of cash flows from the acquired entities , which included future revenue growth rates , operating income margins , and customer attrition rates ; as well as discount rates based on an analysis of the acquired entities ' weighted average cost of capital . the value of client relationships acquired were $ 134.6 million for citoxlab in fiscal year 2019 and $ 264.9 million for mpi research in fiscal year 2018. we review definite-lived intangible assets for impairment

