in order to more efficiently and effectively identify and serve our customer needs , we classify our worldwide operations into four geographic regions . the north america region is primarily comprised of our operations in the u.s. the latin america region is primarily comprised of our operations in argentina , bolivia , brazil , and mexico . the middle east and africa region is primarily comprised of our operations in bahrain , iraq , oman , nigeria and the united arab emirates . the asia pacific region is primarily comprised of our operations in china , indonesia , singapore and thailand . 30 industry conditions and trends our business environment and corresponding operating results are affected by the level of energy industry spending for the exploration , development and production of oil and natural gas reserves , along with spending within the midstream space . spending by oil and natural gas exploration and production companies and midstream providers is dependent upon these companies ' forecasts regarding the expected future supply , demand and pricing of oil and natural gas products as well as their estimates of risk-adjusted costs to find , develop , produce , transport , and treat these reserves . although we believe our contract operations business is typically less impacted by short-term commodity prices than certain other energy products , solutions , and service providers , changes in oil and natural gas exploration and production spending normally result in changes in demand for our products , solutions and services . beginning in 2019 , there has been a shift in the industry that was exacerbated by the covid-19 pandemic . the industry has seen a structural change in the behavior of exploration and production producers and midstream providers , predominately in the u.s. , but internationally as well , to change their focus from growth to one emphasizing cash flow and returns . this has caused a significant reduction in their capital spending plans in order to drive incremental cash flow and has put constraints on the amount of new projects that customers sanction . we believe this is likely to continue to persist into 2021. the covid-19 pandemic has created a demand shock to the system that further exacerbated the supply demand imbalance that was already taking place . the timing of the rebalancing of supply and demand and improvement of pricing for crude oil and natural gas resulting in increased spending on new projects remains uncertain . our performance trends and outlook our revenue , earnings and financial position are affected by , among other things , market conditions that impact demand and pricing for natural gas compression , oil and natural gas production and processing and produced water treatment solutions along with our customers ' decisions to use our products , solutions and services , use our competitors ' products and services or own and operate the equipment themselves . aggregate booking activity levels for our product sales segment in north america and international markets during the year ended december 31 , 2020 was approximately $ 456.5 million , which represents an increase of 96 % compared to the year ended december 31 , 2019. the increase in bookings was primarily driven by a large processing plant order in the middle east . fluctuations in the size and timing of customers ' requests for bid proposals and awards of new contracts tend to create variability in booking activity levels from period to period . historically , oil , natural gas and natural gas liquids and the level of drilling and exploration activity in north america have been volatile . the henry hub spot price for natural gas was $ 2.36 per mmbtu at december 31 , 2020 , which was 13 % higher than prices at december 31 , 2019 , and the u.s. natural gas liquid composite price was $ 4.97 per mmbtu for the month of october 2020 , which was 7 % lower than prices for the month of december 2019. in addition , the west texas intermediate crude oil spot price as of december 31 , 2020 was 21 % lower than prices at december 31 , 2019. volatility in demand for energy and in commodity prices as well as an industry trend towards disciplined capital spending and improving returns have caused timing uncertainties in demand for our products recently . these uncertainties have caused delays in the timing of new equipment orders and lower bookings in north america in our product sales segment . booking activity levels for our product sales segment in north america during the year ended december 31 , 2020 were $ 3.2 million , which represents a decrease of 95 % compared to the year ended december 31 , 2019. longer-term fundamentals in our international markets partially depend on international oil and gas infrastructure projects , many of which are based on the longer-term plans of our customers that can be driven by their local market demand and local pricing for natural gas . as a result , we believe our international customers make decisions based more on longer-term fundamentals that may be less tied to near term commodity prices than our north american customers . over the long term , we believe the demand for our products , solutions and services in international markets will continue , and we expect to have opportunities to grow our international businesses . booking activity levels for our manufactured products in international markets during the year ended december 31 , 2020 were $ 453.3 million , which represents an increase of 177 % compared to the year ended december 31 , 2019. the timing of customer orders and change in activity levels by our customers is difficult to predict . as a result , our ability to project the anticipated activity booking levels for our business , and particularly our product sales segment , is limited . story_separator_special_tag costs and expenses ( dollars in thousands ) replace_table_token_10_th selling , general and administrative sg & a expense decreased during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 primarily due to a decrease in compensation costs . during the years ended december 31 , 2020 and 2019. sg & a expense as a percentage of revenue was 20 % and 18 % , respectively . depreciation and amortization depreciation and amortization expense during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 decreased primarily due to a decrease in depreciation expense of approximately $ 35.2 million in the current year period resulting from the sale of equipment on a contract operations contract in the fourth quarter of 2019. this decrease was partially offset by an increase of approximately $ 19.2 million in depreciation for installation costs and equipment on contract operations projects that were not operating in the prior year period and an additional depreciation expense of $ 9.8 million recognized during the year ended december 31 , 2020 on a contract operations project due to changes in the remaining term of a contract . 37 impairments during the years ended december 31 , 2020 and 2019 , in an effort to generate cash from idle assets and reduce holding costs , we reviewed the future deployment of our idle assets used in our contract operations segment for units that were not of the type , configuration , condition , make or model that are cost efficient to maintain and operate . based on this review , we determined that certain idle compressor units and other assets would be retired from future service . the retirement of these units from the active fleet triggered a review of these assets for impairment . as a result , we recorded a $ 10.0 million and $ 52.6 million asset impairment to reduce the book value of each unit to its estimated fair value during the years ended december 31 , 2020 and 2019 , respectively . the fair value of each unit was estimated based on either the expected net sale proceeds compared to other fleet units we recently sold and or a review of other units recently offered for sale by third parties , or the estimated component value or scrap value of each compressor unit . during the third quarter of 2020 , we impaired certain assets in argentina due to the termination of a contract operations project where it was not cost effective to move the assets and try to utilize them with a different customer . as a result , we removed them from the fleet and recorded an impairment of $ 1.7 million to write-down these assets to their approximate fair values for the year ended december 31 , 2020. restructuring and other charges the energy industry 's focus on capital discipline and improving returns has caused delays in the timing of new equipment orders . as a result , in the second quarter of 2019 , we announced a cost reduction plan primarily focused on workforce reductions . we incurred restructuring and other charges associated with these activities of $ 3.6 million and $ 5.9 million during the years ended december 31 , 2020 and 2019 , respectively . in the second quarter of 2018 , we initiated a relocation plan in the latin america region to better align our contract operations business with our customers . as a result of this plan , during the year ended december 31 , 2019 , we incurred restructuring and other charges of $ 0.3 million related to relocation costs . see note 13 to the financial statements for further discussion of these charges . interest expense the increase in interest expense during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 was primarily due to a decrease in capitalized interest , partially offset by a lower average effective interest rate on long-term debt . during the years ended december 31 , 2020 and 2019 , the average daily outstanding borrowings of long-term debt were $ 511.0 million and $ 511.3 million , respectively . story_separator_special_tag liabilities , net , a decrease of $ 8.7 million in inventory and a decrease of $ 19.4 million in accounts payable and other liabilities . working capital cash changes during the year ended december 31 , 2019 included a decrease of $ 37.9 million in accounts receivables , a decrease of $ 14.9 million in accounts payable and other liabilities and a decrease of $ 55.5 million in contract assets and contract liabilities , net . investing activities . the decrease in net cash used in investing activities during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 was primarily attributable to a $ 113.4 million decrease in capital expenditures . the decrease in capital expenditures was primarily driven by the timing of awards and growth capital expenditures for new contract operations projects . financing activities . the increase in net cash provided by financing activities during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 was primarily attributable to an increase in net borrowings of $ 82.6 million on our long-term debt and a decrease of $ 44.1 million in purchases of treasury stock . discontinued operations . the increase in net cash used in discontinued operations during the year ended december 31 , 2020 compared to year ended december 31 , 2019 was primarily attributable to working capital changes related to our u.s. compression fabrication business partially offset by proceeds received from the sale of the u.s. compression fabrication business . capital requirements . our contract operations business is capital intensive , requiring significant investment to maintain and upgrade existing operations . our capital spending is primarily dependent on the demand for our contract

extinguishment of debt during the year ended december 31 , 2020 , we purchased and retired $ 25.0 million principal amount of our 8.125 % senior unsecured notes due 2025 ( the “ 2017 notes ” ) for $ 21.5 million including $ 0.3 million of accrued interest . during the year ended december 31 , 2020 , we recognized a gain on extinguishment of debt of $ 3.6 million , which was calculated as the difference between the repurchase price and the carrying amount of the 8.125 % senior unsecured notes due 2025 , partially offset by $ 0.2 million in related deferred financing costs . other ( income ) expense , net the change in other ( income ) expense , net , was primarily due to foreign currency losses of $ 5.9 million during the year ended december 31 , 2020 compared to foreign currency losses of $ 3.8 million during the year ended december 31 , 2019. foreign currency losses included translation gains of $ 4.1 million and $ 0.3 million during the years ended december 31 , 2020 and 2019 , respectively , related to the currency remeasurement of our foreign subsidiaries ' non-functional currency denominated intercompany obligations . during the year ended december 31 , 2020 and 2019 , we recognized losses on foreign currency exchange contracts of $ 0.4 million and $ 0.8 million , respectively . the change in other ( income ) expense , net , also included a decrease of $ 1.3 million in gains on sale of property , plant and equipment in the current year period . 38 income taxes ( dollars in thousands ) replace_table_token_11_th our effective tax rate is affected by recurring items , such as tax rates in foreign jurisdictions and the relative amounts of income we earn , or losses we incur , in those jurisdictions . it is also affected by discrete items that may occur in any given year but are not consistent from year to year . our effective tax rate is also affected by valuation allowances recorded against loss carryforwards in the u.s. and certain other jurisdictions , foreign withholding taxes and changes in foreign currency exchange rates . for the year ended december 31 , 2020 : a $ 11.6


 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.
     ```extinguishment of debt during the year ended december 31 , 2020 , we purchased and retired $ 25.0 million principal amount of our 8.125 % senior unsecured notes due 2025 ( the “ 2017 notes ” ) for $ 21.5 million including $ 0.3 million of accrued interest . during the year ended december 31 , 2020 , we recognized a gain on extinguishment of debt of $ 3.6 million , which was calculated as the difference between the repurchase price and the carrying amount of the 8.125 % senior unsecured notes due 2025 , partially offset by $ 0.2 million in related deferred financing costs . other ( income ) expense , net the change in other ( income ) expense , net , was primarily due to foreign currency losses of $ 5.9 million during the year ended december 31 , 2020 compared to foreign currency losses of $ 3.8 million during the year ended december 31 , 2019. foreign currency losses included translation gains of $ 4.1 million and $ 0.3 million during the years ended december 31 , 2020 and 2019 , respectively , related to the currency remeasurement of our foreign subsidiaries ' non-functional currency denominated intercompany obligations . during the year ended december 31 , 2020 and 2019 , we recognized losses on foreign currency exchange contracts of $ 0.4 million and $ 0.8 million , respectively . the change in other ( income ) expense , net , also included a decrease of $ 1.3 million in gains on sale of property , plant and equipment in the current year period . 38 income taxes ( dollars in thousands ) replace_table_token_11_th our effective tax rate is affected by recurring items , such as tax rates in foreign jurisdictions and the relative amounts of income we earn , or losses we incur , in those jurisdictions . it is also affected by discrete items that may occur in any given year but are not consistent from year to year . our effective tax rate is also affected by valuation allowances recorded against loss carryforwards in the u.s. and certain other jurisdictions , foreign withholding taxes and changes in foreign currency exchange rates . for the year ended december 31 , 2020 : a $ 11.6
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 Suspicious Activity Report : in order to more efficiently and effectively identify and serve our customer needs , we classify our worldwide operations into four geographic regions . the north america region is primarily comprised of our operations in the u.s. the latin america region is primarily comprised of our operations in argentina , bolivia , brazil , and mexico . the middle east and africa region is primarily comprised of our operations in bahrain , iraq , oman , nigeria and the united arab emirates . the asia pacific region is primarily comprised of our operations in china , indonesia , singapore and thailand . 30 industry conditions and trends our business environment and corresponding operating results are affected by the level of energy industry spending for the exploration , development and production of oil and natural gas reserves , along with spending within the midstream space . spending by oil and natural gas exploration and production companies and midstream providers is dependent upon these companies ' forecasts regarding the expected future supply , demand and pricing of oil and natural gas products as well as their estimates of risk-adjusted costs to find , develop , produce , transport , and treat these reserves . although we believe our contract operations business is typically less impacted by short-term commodity prices than certain other energy products , solutions , and service providers , changes in oil and natural gas exploration and production spending normally result in changes in demand for our products , solutions and services . beginning in 2019 , there has been a shift in the industry that was exacerbated by the covid-19 pandemic . the industry has seen a structural change in the behavior of exploration and production producers and midstream providers , predominately in the u.s. , but internationally as well , to change their focus from growth to one emphasizing cash flow and returns . this has caused a significant reduction in their capital spending plans in order to drive incremental cash flow and has put constraints on the amount of new projects that customers sanction . we believe this is likely to continue to persist into 2021. the covid-19 pandemic has created a demand shock to the system that further exacerbated the supply demand imbalance that was already taking place . the timing of the rebalancing of supply and demand and improvement of pricing for crude oil and natural gas resulting in increased spending on new projects remains uncertain . our performance trends and outlook our revenue , earnings and financial position are affected by , among other things , market conditions that impact demand and pricing for natural gas compression , oil and natural gas production and processing and produced water treatment solutions along with our customers ' decisions to use our products , solutions and services , use our competitors ' products and services or own and operate the equipment themselves . aggregate booking activity levels for our product sales segment in north america and international markets during the year ended december 31 , 2020 was approximately $ 456.5 million , which represents an increase of 96 % compared to the year ended december 31 , 2019. the increase in bookings was primarily driven by a large processing plant order in the middle east . fluctuations in the size and timing of customers ' requests for bid proposals and awards of new contracts tend to create variability in booking activity levels from period to period . historically , oil , natural gas and natural gas liquids and the level of drilling and exploration activity in north america have been volatile . the henry hub spot price for natural gas was $ 2.36 per mmbtu at december 31 , 2020 , which was 13 % higher than prices at december 31 , 2019 , and the u.s. natural gas liquid composite price was $ 4.97 per mmbtu for the month of october 2020 , which was 7 % lower than prices for the month of december 2019. in addition , the west texas intermediate crude oil spot price as of december 31 , 2020 was 21 % lower than prices at december 31 , 2019. volatility in demand for energy and in commodity prices as well as an industry trend towards disciplined capital spending and improving returns have caused timing uncertainties in demand for our products recently . these uncertainties have caused delays in the timing of new equipment orders and lower bookings in north america in our product sales segment . booking activity levels for our product sales segment in north america during the year ended december 31 , 2020 were $ 3.2 million , which represents a decrease of 95 % compared to the year ended december 31 , 2019. longer-term fundamentals in our international markets partially depend on international oil and gas infrastructure projects , many of which are based on the longer-term plans of our customers that can be driven by their local market demand and local pricing for natural gas . as a result , we believe our international customers make decisions based more on longer-term fundamentals that may be less tied to near term commodity prices than our north american customers . over the long term , we believe the demand for our products , solutions and services in international markets will continue , and we expect to have opportunities to grow our international businesses . booking activity levels for our manufactured products in international markets during the year ended december 31 , 2020 were $ 453.3 million , which represents an increase of 177 % compared to the year ended december 31 , 2019. the timing of customer orders and change in activity levels by our customers is difficult to predict . as a result , our ability to project the anticipated activity booking levels for our business , and particularly our product sales segment , is limited . story_separator_special_tag costs and expenses ( dollars in thousands ) replace_table_token_10_th selling , general and administrative sg & a expense decreased during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 primarily due to a decrease in compensation costs . during the years ended december 31 , 2020 and 2019. sg & a expense as a percentage of revenue was 20 % and 18 % , respectively . depreciation and amortization depreciation and amortization expense during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 decreased primarily due to a decrease in depreciation expense of approximately $ 35.2 million in the current year period resulting from the sale of equipment on a contract operations contract in the fourth quarter of 2019. this decrease was partially offset by an increase of approximately $ 19.2 million in depreciation for installation costs and equipment on contract operations projects that were not operating in the prior year period and an additional depreciation expense of $ 9.8 million recognized during the year ended december 31 , 2020 on a contract operations project due to changes in the remaining term of a contract . 37 impairments during the years ended december 31 , 2020 and 2019 , in an effort to generate cash from idle assets and reduce holding costs , we reviewed the future deployment of our idle assets used in our contract operations segment for units that were not of the type , configuration , condition , make or model that are cost efficient to maintain and operate . based on this review , we determined that certain idle compressor units and other assets would be retired from future service . the retirement of these units from the active fleet triggered a review of these assets for impairment . as a result , we recorded a $ 10.0 million and $ 52.6 million asset impairment to reduce the book value of each unit to its estimated fair value during the years ended december 31 , 2020 and 2019 , respectively . the fair value of each unit was estimated based on either the expected net sale proceeds compared to other fleet units we recently sold and or a review of other units recently offered for sale by third parties , or the estimated component value or scrap value of each compressor unit . during the third quarter of 2020 , we impaired certain assets in argentina due to the termination of a contract operations project where it was not cost effective to move the assets and try to utilize them with a different customer . as a result , we removed them from the fleet and recorded an impairment of $ 1.7 million to write-down these assets to their approximate fair values for the year ended december 31 , 2020. restructuring and other charges the energy industry 's focus on capital discipline and improving returns has caused delays in the timing of new equipment orders . as a result , in the second quarter of 2019 , we announced a cost reduction plan primarily focused on workforce reductions . we incurred restructuring and other charges associated with these activities of $ 3.6 million and $ 5.9 million during the years ended december 31 , 2020 and 2019 , respectively . in the second quarter of 2018 , we initiated a relocation plan in the latin america region to better align our contract operations business with our customers . as a result of this plan , during the year ended december 31 , 2019 , we incurred restructuring and other charges of $ 0.3 million related to relocation costs . see note 13 to the financial statements for further discussion of these charges . interest expense the increase in interest expense during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 was primarily due to a decrease in capitalized interest , partially offset by a lower average effective interest rate on long-term debt . during the years ended december 31 , 2020 and 2019 , the average daily outstanding borrowings of long-term debt were $ 511.0 million and $ 511.3 million , respectively . story_separator_special_tag liabilities , net , a decrease of $ 8.7 million in inventory and a decrease of $ 19.4 million in accounts payable and other liabilities . working capital cash changes during the year ended december 31 , 2019 included a decrease of $ 37.9 million in accounts receivables , a decrease of $ 14.9 million in accounts payable and other liabilities and a decrease of $ 55.5 million in contract assets and contract liabilities , net . investing activities . the decrease in net cash used in investing activities during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 was primarily attributable to a $ 113.4 million decrease in capital expenditures . the decrease in capital expenditures was primarily driven by the timing of awards and growth capital expenditures for new contract operations projects . financing activities . the increase in net cash provided by financing activities during the year ended december 31 , 2020 compared to the year ended december 31 , 2019 was primarily attributable to an increase in net borrowings of $ 82.6 million on our long-term debt and a decrease of $ 44.1 million in purchases of treasury stock . discontinued operations . the increase in net cash used in discontinued operations during the year ended december 31 , 2020 compared to year ended december 31 , 2019 was primarily attributable to working capital changes related to our u.s. compression fabrication business partially offset by proceeds received from the sale of the u.s. compression fabrication business . capital requirements . our contract operations business is capital intensive , requiring significant investment to maintain and upgrade existing operations . our capital spending is primarily dependent on the demand for our contract

