according to phocuswright , an independent travel , tourism and hospitality research firm , in 2020 , approximately 50 % of u.s. and european leisure and unmanaged corporate travel expenditures are expected to occur online . online penetration rates in the emerging markets , such as asia pacific and latin american regions , are lagging behind that of the united states and europe . these penetration rates increased over the past few years , and are expected to continue growing , which presents an attractive growth opportunity for our business , while also attracting many competitors to online travel . this competition intensified in recent years , and the industry is expected to remain highly competitive for the foreseeable future . in addition to the growth of online travel agencies , we see increased interest in the online travel industry from search engine companies such as google , evidenced by continued product enhancements , including new trip planning features for users and the integration of its various travel products into the google travel offering , as well as further prioritizing its own products in search results . competitive entrants such as “ metasearch ” companies , including kayak.com ( owned by booking holdings ) , trivago ( in which expedia group owns a majority interest ) as well as tripadvisor , introduced differentiated features , pricing and content compared with the legacy online travel agency companies , as well as various forms of direct or assisted booking tools . further , airlines and lodging companies are aggressively pursuing direct online distribution of their products and services . in addition , the increasing popularity of the “ sharing economy , ” accelerated by online penetration , has had a direct impact on the travel and lodging industry . businesses such as airbnb , vrbo ( previously homeaway , which expedia group acquired in december 2015 ) and booking.com ( owned by booking holdings ) have emerged as the leaders , bringing incremental alternative accommodation and vacation rental inventory to the market . many other competitors , including vacation rental metasearch players , continue to emerge in this space , which is expected to continue to grow as a percentage of the global accommodation market . finally , traditional consumer ecommerce and group buying websites expanded their local offerings into the travel market by adding 37 hotel offers to their websites . for additional detail regarding the competitive trends and risks we face , see part i item 1 business - `` competition , `` and part i , item 1a , risk factors - `` we operate in an increasingly competitive global environment . ” the online travel industry also saw the development of alternative business models and variations in the timing of payment by travelers and to suppliers , which in some cases place pressure on historical business models . in particular , the agency hotel model saw rapid adoption in europe . expedia group facilitates both merchant ( expedia collect ) and agency ( hotel collect ) hotel offerings with our hotel supply partners through both agency-only contracts as well as our hybrid etp program , which offers travelers the choice of whether to pay expedia group at the time of booking or pay the hotel at the time of stay . intense competition also historically led to aggressive marketing efforts by the travel suppliers and intermediaries , and a meaningful unfavorable impact on our overall marketing efficiencies and operating margins . we manage our marketing spending on a brand basis , making decisions in each applicable market that we think are appropriate based on the relative growth opportunity and the expected returns and the competitive environment . in certain cases , particularly in many international markets , we are pursuing and expect to continue to pursue long-term growth opportunities for which our marketing efficiency is less favorable than that for our consolidated business , but for which we still believe the opportunity to be attractive . in addition , the crowded online travel environment is now driving certain secondary and tertiary online travel companies to establish marketing agreements with global players in order to leverage distribution and technology capabilities while focusing resources on capturing traveler mind share . for more detail , see part i , item 1a , risk factors - `` we rely on the value of our brands , and the cost of maintaining and enhancing our brand awareness are increasing ” and “ our international operations involve additional risks and our exposure to these risks will increase as our business expands globally . ” lodging lodging includes hotel accommodations and alternative accommodations . as a percentage of our total worldwide revenue in 2019 , lodging accounted for 70 % . our room night growth has been healthy , with room nights growing 16 % in 2017 , 13 % in 2018 , and 11 % in 2019. adrs for rooms booked on expedia group websites increased 3 % in 2017 , 5 % in 2018 , and decreased 1 % in 2019. the decrease in 2019 was primarily due to the negative impact of foreign exchange . more recently , we have seen pressure on a local currency basis on adrs , similar to the recent trends for hotel companies . hotel . we generate the majority of our revenue through the facilitation of hotel reservations ( stand-alone and package bookings ) . although our relationships with our hotel supply partners remained broadly stable in the past few years , as part of the global rollout of etp , we reduced negotiated economics in certain instances to compensate for hotel supply partners absorbing expenses such as credit card fees and customer service costs , which has negatively impacted the margin of revenue we earn per booking . story_separator_special_tag any impairment would be measured as the difference between the asset groups carrying amount and its estimated fair value . the use of different estimates or assumptions in determining the fair value of our goodwill , indefinite-lived and definite-lived intangible assets may result in different values for these assets , which could result in an impairment or , in the period in which an impairment is recognized , could result in a materially different impairment charge . income taxes we record income taxes under the liability method . deferred tax assets and liabilities reflect our estimation of the future tax consequences of temporary differences between the carrying amounts of assets and liabilities for book and tax purposes . we determine deferred income taxes based on the differences in accounting methods and timing between financial statement and income tax reporting . accordingly , we determine the deferred tax asset or liability for each temporary difference based on the enacted tax rates expected to be in effect when we realize the underlying items of income and expense . we consider many factors when assessing the likelihood of future realization of our deferred tax assets , including our recent earnings experience by jurisdiction , expectations of future taxable income , and the carryforward periods available to us for tax reporting purposes , as well as other relevant factors . we may establish a valuation allowance to reduce deferred tax assets to the amount we believe is more likely than not to be realized . due to inherent complexities arising from the nature of our businesses , future changes in income tax law , tax sharing agreements or variances between our actual and anticipated operating results , we make certain judgments and estimates . therefore , actual income taxes could materially vary from these estimates . we record liabilities to address uncertain tax positions we have taken in previously filed tax returns or that we expect to take in a future tax return . the determination for required liabilities is based upon an analysis of each individual tax position , taking into consideration whether it is more likely than not that our tax position , based on technical merits , will be sustained upon examination . for those positions for which we conclude it is more likely than not it will be sustained , we recognize the 41 largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with the taxing authority . the difference between the amount recognized and the total tax position is recorded as a liability . the ultimate resolution of these tax positions may be greater or less than the liabilities recorded . other long-term liabilities various legal and tax contingencies . we record liabilities to address potential exposures related to business and tax positions we have taken that have been or could be challenged by taxing authorities . in addition , we record liabilities associated with legal proceedings and lawsuits . these liabilities are recorded when the likelihood of payment is probable and the amounts can be reasonably estimated . the determination for required liabilities is based upon analysis of each individual tax issue , or legal proceeding , taking into consideration the likelihood of adverse judgments and the range of possible loss . in addition , our analysis may be based on discussions with outside legal counsel . the ultimate resolution of these potential tax exposures and legal proceedings may be greater or less than the liabilities recorded . occupancy and other taxes . some states and localities impose taxes ( e.g . transient occupancy , accommodation tax , sales tax and or business privilege tax ) on the use or occupancy of hotel accommodations or other traveler services . generally , hotels collect taxes based on the rate paid to the hotel and remit these taxes to the various tax authorities . when a customer books a room through one of our travel services , we collect a tax recovery charge from the customer which we pay to the hotel . we calculate the tax recovery charge by applying the applicable tax rate supplied to us by the hotels to the amount that the hotel has agreed to receive for the rental of the room by the consumer . in most jurisdictions , we do not collect or remit taxes , nor do we pay taxes to the hotel operator , on the portion of the customer payment we retain . some jurisdictions have questioned our practice in this regard . while the applicable tax provisions vary among the jurisdictions , we generally believe that we are not required to pay such taxes . more recently , a limited number of taxing jurisdictions have made similar claims against vrbo for tax amounts due on the rental amounts charged by owners of alternative accommodations properties or for taxes on vrbo 's services . vrbo is an intermediary between a traveler and a party renting an alternative accommodations property and we believe is similarly not liable for such taxes . we are engaged in discussions with tax authorities in various jurisdictions to resolve these issues . some tax authorities have brought lawsuits or have levied assessments asserting that we are required to collect and remit tax . the ultimate resolution in all jurisdictions can not be determined at this time . certain jurisdictions may require us to pay tax assessments , including occupancy and other transactional tax assessments , prior to contesting any such assessments . we have established a reserve for the potential settlement of issues related to hotel occupancy and other tax litigation for prior and current periods , consistent with applicable accounting principles and in light of all current facts and circumstances . a variety of factors could affect the amount of the liability ( both past and future ) , which factors include , but are not limited to , the number of , and amount of

cash provided by financing activities in 2019 primarily included $ 1.231 billion of net proceeds for the issuance of the 3.25 % notes in september 2019 as well as $ 301 million of proceeds from the exercise of options and employee stock purchase plans , partially offset by $ 400 million payment of debt assumed in the liberty expedia transaction , cash dividend payments of $ 195 million and cash paid to acquire shares of $ 743 million , including the repurchased shares under the authorization discussed below as well as $ 24 million for repurchases with respect to the liberty expedia holdings transaction . cash used in financing activities in 2018 primarily included cash paid to acquire shares of $ 923 million , the $ 500 million long-term debt repayment and a $ 186 million cash dividend payment , partially offset by $ 166 million of proceeds from the exercise of options and employee stock purchase plans . during 2019 , 2012 , 2010 , and 2006 , our board of directors , or the executive committee , acting on behalf of the board of directors , authorized a repurchase of up to 20 million outstanding shares of our common stock in each of the respective years , during 2018 authorized a repurchase of up to 15 million shares of our common stock and during 2015 authorized a repurchase of up to 10 million shares of our common stock for a total of 105 million shares . shares repurchased under the authorized programs were as follows : replace_table_token_20_th ( 1 ) amount excludes transaction costs . as of december 31 , 2019 , 26.7 million shares remain authorized for repurchase under the 2018 authorization with no fixed termination date for the repurchases .


 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 provided by financing activities in 2019 primarily included $ 1.231 billion of net proceeds for the issuance of the 3.25 % notes in september 2019 as well as $ 301 million of proceeds from the exercise of options and employee stock purchase plans , partially offset by $ 400 million payment of debt assumed in the liberty expedia transaction , cash dividend payments of $ 195 million and cash paid to acquire shares of $ 743 million , including the repurchased shares under the authorization discussed below as well as $ 24 million for repurchases with respect to the liberty expedia holdings transaction . cash used in financing activities in 2018 primarily included cash paid to acquire shares of $ 923 million , the $ 500 million long-term debt repayment and a $ 186 million cash dividend payment , partially offset by $ 166 million of proceeds from the exercise of options and employee stock purchase plans . during 2019 , 2012 , 2010 , and 2006 , our board of directors , or the executive committee , acting on behalf of the board of directors , authorized a repurchase of up to 20 million outstanding shares of our common stock in each of the respective years , during 2018 authorized a repurchase of up to 15 million shares of our common stock and during 2015 authorized a repurchase of up to 10 million shares of our common stock for a total of 105 million shares . shares repurchased under the authorized programs were as follows : replace_table_token_20_th ( 1 ) amount excludes transaction costs . as of december 31 , 2019 , 26.7 million shares remain authorized for repurchase under the 2018 authorization with no fixed termination date for the repurchases .
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 Suspicious Activity Report : according to phocuswright , an independent travel , tourism and hospitality research firm , in 2020 , approximately 50 % of u.s. and european leisure and unmanaged corporate travel expenditures are expected to occur online . online penetration rates in the emerging markets , such as asia pacific and latin american regions , are lagging behind that of the united states and europe . these penetration rates increased over the past few years , and are expected to continue growing , which presents an attractive growth opportunity for our business , while also attracting many competitors to online travel . this competition intensified in recent years , and the industry is expected to remain highly competitive for the foreseeable future . in addition to the growth of online travel agencies , we see increased interest in the online travel industry from search engine companies such as google , evidenced by continued product enhancements , including new trip planning features for users and the integration of its various travel products into the google travel offering , as well as further prioritizing its own products in search results . competitive entrants such as “ metasearch ” companies , including kayak.com ( owned by booking holdings ) , trivago ( in which expedia group owns a majority interest ) as well as tripadvisor , introduced differentiated features , pricing and content compared with the legacy online travel agency companies , as well as various forms of direct or assisted booking tools . further , airlines and lodging companies are aggressively pursuing direct online distribution of their products and services . in addition , the increasing popularity of the “ sharing economy , ” accelerated by online penetration , has had a direct impact on the travel and lodging industry . businesses such as airbnb , vrbo ( previously homeaway , which expedia group acquired in december 2015 ) and booking.com ( owned by booking holdings ) have emerged as the leaders , bringing incremental alternative accommodation and vacation rental inventory to the market . many other competitors , including vacation rental metasearch players , continue to emerge in this space , which is expected to continue to grow as a percentage of the global accommodation market . finally , traditional consumer ecommerce and group buying websites expanded their local offerings into the travel market by adding 37 hotel offers to their websites . for additional detail regarding the competitive trends and risks we face , see part i item 1 business - `` competition , `` and part i , item 1a , risk factors - `` we operate in an increasingly competitive global environment . ” the online travel industry also saw the development of alternative business models and variations in the timing of payment by travelers and to suppliers , which in some cases place pressure on historical business models . in particular , the agency hotel model saw rapid adoption in europe . expedia group facilitates both merchant ( expedia collect ) and agency ( hotel collect ) hotel offerings with our hotel supply partners through both agency-only contracts as well as our hybrid etp program , which offers travelers the choice of whether to pay expedia group at the time of booking or pay the hotel at the time of stay . intense competition also historically led to aggressive marketing efforts by the travel suppliers and intermediaries , and a meaningful unfavorable impact on our overall marketing efficiencies and operating margins . we manage our marketing spending on a brand basis , making decisions in each applicable market that we think are appropriate based on the relative growth opportunity and the expected returns and the competitive environment . in certain cases , particularly in many international markets , we are pursuing and expect to continue to pursue long-term growth opportunities for which our marketing efficiency is less favorable than that for our consolidated business , but for which we still believe the opportunity to be attractive . in addition , the crowded online travel environment is now driving certain secondary and tertiary online travel companies to establish marketing agreements with global players in order to leverage distribution and technology capabilities while focusing resources on capturing traveler mind share . for more detail , see part i , item 1a , risk factors - `` we rely on the value of our brands , and the cost of maintaining and enhancing our brand awareness are increasing ” and “ our international operations involve additional risks and our exposure to these risks will increase as our business expands globally . ” lodging lodging includes hotel accommodations and alternative accommodations . as a percentage of our total worldwide revenue in 2019 , lodging accounted for 70 % . our room night growth has been healthy , with room nights growing 16 % in 2017 , 13 % in 2018 , and 11 % in 2019. adrs for rooms booked on expedia group websites increased 3 % in 2017 , 5 % in 2018 , and decreased 1 % in 2019. the decrease in 2019 was primarily due to the negative impact of foreign exchange . more recently , we have seen pressure on a local currency basis on adrs , similar to the recent trends for hotel companies . hotel . we generate the majority of our revenue through the facilitation of hotel reservations ( stand-alone and package bookings ) . although our relationships with our hotel supply partners remained broadly stable in the past few years , as part of the global rollout of etp , we reduced negotiated economics in certain instances to compensate for hotel supply partners absorbing expenses such as credit card fees and customer service costs , which has negatively impacted the margin of revenue we earn per booking . story_separator_special_tag any impairment would be measured as the difference between the asset groups carrying amount and its estimated fair value . the use of different estimates or assumptions in determining the fair value of our goodwill , indefinite-lived and definite-lived intangible assets may result in different values for these assets , which could result in an impairment or , in the period in which an impairment is recognized , could result in a materially different impairment charge . income taxes we record income taxes under the liability method . deferred tax assets and liabilities reflect our estimation of the future tax consequences of temporary differences between the carrying amounts of assets and liabilities for book and tax purposes . we determine deferred income taxes based on the differences in accounting methods and timing between financial statement and income tax reporting . accordingly , we determine the deferred tax asset or liability for each temporary difference based on the enacted tax rates expected to be in effect when we realize the underlying items of income and expense . we consider many factors when assessing the likelihood of future realization of our deferred tax assets , including our recent earnings experience by jurisdiction , expectations of future taxable income , and the carryforward periods available to us for tax reporting purposes , as well as other relevant factors . we may establish a valuation allowance to reduce deferred tax assets to the amount we believe is more likely than not to be realized . due to inherent complexities arising from the nature of our businesses , future changes in income tax law , tax sharing agreements or variances between our actual and anticipated operating results , we make certain judgments and estimates . therefore , actual income taxes could materially vary from these estimates . we record liabilities to address uncertain tax positions we have taken in previously filed tax returns or that we expect to take in a future tax return . the determination for required liabilities is based upon an analysis of each individual tax position , taking into consideration whether it is more likely than not that our tax position , based on technical merits , will be sustained upon examination . for those positions for which we conclude it is more likely than not it will be sustained , we recognize the 41 largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with the taxing authority . the difference between the amount recognized and the total tax position is recorded as a liability . the ultimate resolution of these tax positions may be greater or less than the liabilities recorded . other long-term liabilities various legal and tax contingencies . we record liabilities to address potential exposures related to business and tax positions we have taken that have been or could be challenged by taxing authorities . in addition , we record liabilities associated with legal proceedings and lawsuits . these liabilities are recorded when the likelihood of payment is probable and the amounts can be reasonably estimated . the determination for required liabilities is based upon analysis of each individual tax issue , or legal proceeding , taking into consideration the likelihood of adverse judgments and the range of possible loss . in addition , our analysis may be based on discussions with outside legal counsel . the ultimate resolution of these potential tax exposures and legal proceedings may be greater or less than the liabilities recorded . occupancy and other taxes . some states and localities impose taxes ( e.g . transient occupancy , accommodation tax , sales tax and or business privilege tax ) on the use or occupancy of hotel accommodations or other traveler services . generally , hotels collect taxes based on the rate paid to the hotel and remit these taxes to the various tax authorities . when a customer books a room through one of our travel services , we collect a tax recovery charge from the customer which we pay to the hotel . we calculate the tax recovery charge by applying the applicable tax rate supplied to us by the hotels to the amount that the hotel has agreed to receive for the rental of the room by the consumer . in most jurisdictions , we do not collect or remit taxes , nor do we pay taxes to the hotel operator , on the portion of the customer payment we retain . some jurisdictions have questioned our practice in this regard . while the applicable tax provisions vary among the jurisdictions , we generally believe that we are not required to pay such taxes . more recently , a limited number of taxing jurisdictions have made similar claims against vrbo for tax amounts due on the rental amounts charged by owners of alternative accommodations properties or for taxes on vrbo 's services . vrbo is an intermediary between a traveler and a party renting an alternative accommodations property and we believe is similarly not liable for such taxes . we are engaged in discussions with tax authorities in various jurisdictions to resolve these issues . some tax authorities have brought lawsuits or have levied assessments asserting that we are required to collect and remit tax . the ultimate resolution in all jurisdictions can not be determined at this time . certain jurisdictions may require us to pay tax assessments , including occupancy and other transactional tax assessments , prior to contesting any such assessments . we have established a reserve for the potential settlement of issues related to hotel occupancy and other tax litigation for prior and current periods , consistent with applicable accounting principles and in light of all current facts and circumstances . a variety of factors could affect the amount of the liability ( both past and future ) , which factors include , but are not limited to , the number of , and amount of

