the effective income tax rate for 2019 was lower than 2018 , primarily due to ( i ) suspension of the non-deductible patient protection and affordable care act health insurer fee ( “ hif ” ) fees in 2019 , and ( ii ) an increased relative impact in 2018 of the permanent differences for hif fees and executive compensation as a result of reduced earnings . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2015 expired during 2019. as a result , $ 3.5 million of tax contingency reserves recorded as of december 31 , 2018 were reversed in 2019 , of which $ 2.8 million was reflected as a reduction to income tax expense and $ 0.7 million as a decrease to deferred tax assets . additionally , $ 0.3 million of accrued interest was reversed in 2019 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2014 expired during 2018. as a result , $ 3.0 million of tax contingency reserves recorded as of december 31 , 2017 were reversed in 2018 , of which $ 2.4 million was reflected as a reduction to income tax expense and $ 0.6 million as a decrease to deferred tax assets . additionally , $ 0.2 million of accrued interest was reversed in 2018 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . 2018 compared to 2017 net revenue , cost of care , cost of goods sold , and direct service costs and other operating expenses net revenue , cost of care , cost of goods sold , and direct service costs and other operating expense variances are addressed within the segment results that follow . depreciation and amortization depreciation and amortization expense increased by 14.7 percent or $ 17.0 million from 2017 to 2018 , primarily due to asset additions after 2017 and acquisition activity . interest expense interest expense increased by $ 9.4 million from 2017 to 2018 mainly due to an increase in interest rates and the amount of outstanding debt . interest and other income interest and other income increased by $ 8.2 million from 2017 to 2018 primarily due to higher yields and invested balances . income taxes the company 's effective income tax rate was 18.6 percent in 2017 and 44.0 percent in 2018. these rates differ from the applicable federal statutory income tax rate for each year primarily due to state income taxes , remeasurement of deferred tax balances in 2017 due to the tax act , permanent differences between book and tax income , and changes to the valuation allowances . the company also accrues interest and penalties related to uncertain tax positions in its provision for income taxes . although the federal statutory rate was reduced under the tax act from 35 % in 2017 to 21 % in 2018 , the effective income tax rate for 2018 was higher than 2017 , primarily due to ( i ) suspension of the non-deductible patient protection and affordable care act health insurer fee ( “ hif ” ) fees in 2017 , ( ii ) a significant reversal 35 of valuation allowances in 2017 for the alphacare net operating loss carryforwards ( “ nols ” ) , ( iii ) remeasurement of deferred tax balances in 2017 as a result of the tax act , ( iv ) a significant increase in the amount of non-deductible executive compensation in 2018 as a result of the tax act , and ( v ) an increased relative impact in 2018 of the permanent differences for non-deductible hif fees and non-deductible executive compensation as a result of reduced earnings . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2014 expired during 2018. as a result , $ 3.0 million of tax contingency reserves recorded as of december 31 , 2017 were reversed in 2018 , of which $ 2.4 million was reflected as a reduction to income tax expense and $ 0.6 million as a decrease to deferred tax assets . additionally , $ 0.2 million of accrued interest was reversed in 2018 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2013 expired during 2017. as a result , $ 3.0 million of tax contingency reserves recorded as of december 31 , 2016 were reversed in 2017 , of which $ 2.0 million was reflected as a reduction to income tax expense and $ 1.0 million as a decrease to deferred tax assets . additionally , $ 0.2 million of accrued interest was reversed in 2017 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . segment results the company manages and measures operational performance through three segments : healthcare , pharmacy management and corporate . the company evaluates performance of its segments based on segment profit . management uses segment profit information for internal reporting and control purposes and considers it important in making decisions regarding the allocation of capital and other resources , risk assessment and employee compensation , among other matters . stock compensation expense and changes in fair value of contingent consideration recorded in relation to acquisitions are included in direct service costs and other operating expenses ; however , these amounts are excluded from the computation of segment profit . story_separator_special_tag based on the amount of cash equivalents and investments and the borrowing levels under the 2017 credit agreement and the principal amount of the notes as of december 31 , 2019 , a hypothetical 10 percent increase or decrease in the interest rate associated with these instruments , with all other variables held constant , would not materially affect the company 's future earnings and cash outflows . historical—liquidity and capital resources 2019 compared to 2018 operating activities . the company reported net cash provided by operating activities of $ 164.8 million and $ 115.8 million for 2018 and 2019 , respectively . the $ 49.0 million decrease in operating cash flows from 2018 is mainly attributable to unfavorable working capital changes , partially offset by lower tax payments and higher segment profit . the net unfavorable impact of working capital changes between periods totaled $ 114.7 million . for 2018 , operating cash flows were impacted by net unfavorable working capital changes of $ 3.0 million , mainly attributable to an increase in accounts receivables partially offset by an increase in payables . for 2019 , operating cash flows were impacted by net unfavorable working capital changes of $ 117.7 million , mainly attributable to the timing of receivables and payables . tax payments for 2019 decreased $ 35.4 million from 2018. interest payments for 2019 decreased $ 4.3 million from 2018. segment profit for 2019 increased $ 24.7 million from 2018. investing activities . the company utilized $ 68.3 million and $ 60.4 million during 2018 and 2019 , respectively , for capital expenditures . the additions related to hard assets ( equipment , furniture and leaseholds ) and capitalized software for 2018 were $ 26.3 million and $ 42.0 million , respectively , as compared to additions for 2019 related to hard assets and capitalized software of $ 15.8 million and $ 44.6 million , respectively . during 2018 the company used $ 59.2 million for the net purchase of `` available-for-sale `` securities . during 2019 the company received $ 41.6 million for the net maturity of `` available-for-sale `` securities . financing activities . during 2018 , the company paid $ 110.0 million on debt obligations , $ 62.6 million for the repurchase of treasury stock under the company 's share repurchase program , $ 12.2 million on finance lease obligations and had other net unfavorable items of $ 1.0 million . in addition , the company received $ 23.1 million from the exercise of stock options . during 2019 , the company paid $ 59.8 million on debt obligations , $ 6.2 million for payments on contingent consideration , $ 4.1 million for the repurchase of treasury stock under the company 's share repurchase program and $ 7.7 million on finance lease obligations . in addition , the company received $ 32.7 million from the exercise of stock options and had other net favorable items of $ 1.8 million . 2018 compared to 2017 operating activities . the company reported net cash provided by operating activities of $ 162.3 million and $ 164.8 million for 2017 and 2018 , respectively . the $ 2.5 million increase in operating cash flows from 2017 to 2018 is mainly attributable to favorable working capital changes and decreased tax payments between years , partially offset by a decrease in segment profit , increased interest payments between years and aca activity . ​ the net favorable impact of working capital changes between periods totaled $ 76.1 million . for 2017 , operating cash flows were impacted by net unfavorable working capital changes of $ 79.1 million , which were largely attributable 43 to timing related to receivables and payables . for 2018 , operating cash flows were impacted by net unfavorable working capital changes of $ 3.0 million , which were largely attributable to an increase in accounts receivable , partially offset by an increase in payables . ​ segment profit for 2018 decreased $ 82.9 million from 2017. tax payments for 2018 decreased $ 19.3 million from 2017. interest payments for 2018 increased by $ 18.8 million from 2017 . ​ investing activities . the company utilized $ 57.2 million and $ 68.3 million during 2017 and 2018 , respectively , for capital expenditures . the additions related to hard assets ( equipment , furniture and leaseholds ) and capitalized software for 2017 were $ 16.0 million and $ 41.2 million , respectively , as compared to additions for 2018 related to hard assets and capitalized software of $ 26.3 million and $ 42.0 million , respectively . during 2017 and 2018 the company used net cash of $ 26.8 million and $ 59.2 million for the net purchase of `` available-for-sale `` securities . during 2017 , the company used net cash of $ 232.4 million related to investments in businesses and the acquisition of veridicus and swh . during 2018 , the company used net cash of $ 1.0 million related to investments in businesses . financing activities . during 2017 , the company paid $ 798.1 million on debt obligations , $ 21.8 million for the repurchase of treasury stock under the company 's share repurchase program , $ 9.9 million in debt issuance fees , $ 5.3 million on finance lease obligations and had other net unfavorable items of $ 2.7 million . in addition , the company received $ 1,041.7 million from the issuance of debt and $ 44.4 million from the exercise of stock options . during 2018 , the company paid $ 110.0 million on debt obligations , $ 62.6 million for the repurchase of treasury stock under the company 's share repurchase program , $ 12.2 million on finance lease obligations and had other net unfavorable items of $ 1.0 million . in addition , the company received $ 23.1 million from the exercise of stock options . outlook—liquidity and capital resources story_separator_special_tag agreements see note 5— “ long-term debt

liquidity . the company may draw on the 2017 credit agreement as required to meet working capital needs associated with the timing of receivables and payables , fund share repurchases or support acquisition activities . the company currently expects to have adequate liquidity to satisfy its existing financial commitments over the periods in which they will become due . the company plans to maintain its current investment strategy of investing in a diversified , high quality , liquid portfolio of investments and continues to closely monitor the financial markets . the company estimates that it has no risk of any material permanent loss on its investment portfolio ; however , there can be no assurance the company will not experience any such losses in the future . contractual obligations and commitments the following table sets forth the future financial commitments of the company as of december 31 , 2019 ( in thousands ) : replace_table_token_11_th ( 1 ) operating lease obligations include estimated future lease payments for both open and closed offices . ( 2 ) these letters of credit typically act as a guarantee of payment to certain third parties in accordance with specified terms and conditions . 44 ( 3 ) finance lease and deferred financing obligations include imputed interest of $ 1.9 million and are net of leasehold improvement allowances . ( 4 ) purchase commitments include open purchase orders as of december 31 , 2019 relating to ongoing capital expenditure and operational activities . ( 5 ) the company is unable to make a reasonably reliable estimate of the period of the cash settlement ( if any ) with the respective taxing authorities for these contingencies .


 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 . the company may draw on the 2017 credit agreement as required to meet working capital needs associated with the timing of receivables and payables , fund share repurchases or support acquisition activities . the company currently expects to have adequate liquidity to satisfy its existing financial commitments over the periods in which they will become due . the company plans to maintain its current investment strategy of investing in a diversified , high quality , liquid portfolio of investments and continues to closely monitor the financial markets . the company estimates that it has no risk of any material permanent loss on its investment portfolio ; however , there can be no assurance the company will not experience any such losses in the future . contractual obligations and commitments the following table sets forth the future financial commitments of the company as of december 31 , 2019 ( in thousands ) : replace_table_token_11_th ( 1 ) operating lease obligations include estimated future lease payments for both open and closed offices . ( 2 ) these letters of credit typically act as a guarantee of payment to certain third parties in accordance with specified terms and conditions . 44 ( 3 ) finance lease and deferred financing obligations include imputed interest of $ 1.9 million and are net of leasehold improvement allowances . ( 4 ) purchase commitments include open purchase orders as of december 31 , 2019 relating to ongoing capital expenditure and operational activities . ( 5 ) the company is unable to make a reasonably reliable estimate of the period of the cash settlement ( if any ) with the respective taxing authorities for these contingencies .
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 Suspicious Activity Report : the effective income tax rate for 2019 was lower than 2018 , primarily due to ( i ) suspension of the non-deductible patient protection and affordable care act health insurer fee ( “ hif ” ) fees in 2019 , and ( ii ) an increased relative impact in 2018 of the permanent differences for hif fees and executive compensation as a result of reduced earnings . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2015 expired during 2019. as a result , $ 3.5 million of tax contingency reserves recorded as of december 31 , 2018 were reversed in 2019 , of which $ 2.8 million was reflected as a reduction to income tax expense and $ 0.7 million as a decrease to deferred tax assets . additionally , $ 0.3 million of accrued interest was reversed in 2019 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2014 expired during 2018. as a result , $ 3.0 million of tax contingency reserves recorded as of december 31 , 2017 were reversed in 2018 , of which $ 2.4 million was reflected as a reduction to income tax expense and $ 0.6 million as a decrease to deferred tax assets . additionally , $ 0.2 million of accrued interest was reversed in 2018 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . 2018 compared to 2017 net revenue , cost of care , cost of goods sold , and direct service costs and other operating expenses net revenue , cost of care , cost of goods sold , and direct service costs and other operating expense variances are addressed within the segment results that follow . depreciation and amortization depreciation and amortization expense increased by 14.7 percent or $ 17.0 million from 2017 to 2018 , primarily due to asset additions after 2017 and acquisition activity . interest expense interest expense increased by $ 9.4 million from 2017 to 2018 mainly due to an increase in interest rates and the amount of outstanding debt . interest and other income interest and other income increased by $ 8.2 million from 2017 to 2018 primarily due to higher yields and invested balances . income taxes the company 's effective income tax rate was 18.6 percent in 2017 and 44.0 percent in 2018. these rates differ from the applicable federal statutory income tax rate for each year primarily due to state income taxes , remeasurement of deferred tax balances in 2017 due to the tax act , permanent differences between book and tax income , and changes to the valuation allowances . the company also accrues interest and penalties related to uncertain tax positions in its provision for income taxes . although the federal statutory rate was reduced under the tax act from 35 % in 2017 to 21 % in 2018 , the effective income tax rate for 2018 was higher than 2017 , primarily due to ( i ) suspension of the non-deductible patient protection and affordable care act health insurer fee ( “ hif ” ) fees in 2017 , ( ii ) a significant reversal 35 of valuation allowances in 2017 for the alphacare net operating loss carryforwards ( “ nols ” ) , ( iii ) remeasurement of deferred tax balances in 2017 as a result of the tax act , ( iv ) a significant increase in the amount of non-deductible executive compensation in 2018 as a result of the tax act , and ( v ) an increased relative impact in 2018 of the permanent differences for non-deductible hif fees and non-deductible executive compensation as a result of reduced earnings . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2014 expired during 2018. as a result , $ 3.0 million of tax contingency reserves recorded as of december 31 , 2017 were reversed in 2018 , of which $ 2.4 million was reflected as a reduction to income tax expense and $ 0.6 million as a decrease to deferred tax assets . additionally , $ 0.2 million of accrued interest was reversed in 2018 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . the statutes of limitations regarding the assessment of federal and most state and local income taxes for 2013 expired during 2017. as a result , $ 3.0 million of tax contingency reserves recorded as of december 31 , 2016 were reversed in 2017 , of which $ 2.0 million was reflected as a reduction to income tax expense and $ 1.0 million as a decrease to deferred tax assets . additionally , $ 0.2 million of accrued interest was reversed in 2017 and reflected as a reduction to income tax expense due to the closing of statutes of limitations on tax assessments . segment results the company manages and measures operational performance through three segments : healthcare , pharmacy management and corporate . the company evaluates performance of its segments based on segment profit . management uses segment profit information for internal reporting and control purposes and considers it important in making decisions regarding the allocation of capital and other resources , risk assessment and employee compensation , among other matters . stock compensation expense and changes in fair value of contingent consideration recorded in relation to acquisitions are included in direct service costs and other operating expenses ; however , these amounts are excluded from the computation of segment profit . story_separator_special_tag based on the amount of cash equivalents and investments and the borrowing levels under the 2017 credit agreement and the principal amount of the notes as of december 31 , 2019 , a hypothetical 10 percent increase or decrease in the interest rate associated with these instruments , with all other variables held constant , would not materially affect the company 's future earnings and cash outflows . historical—liquidity and capital resources 2019 compared to 2018 operating activities . the company reported net cash provided by operating activities of $ 164.8 million and $ 115.8 million for 2018 and 2019 , respectively . the $ 49.0 million decrease in operating cash flows from 2018 is mainly attributable to unfavorable working capital changes , partially offset by lower tax payments and higher segment profit . the net unfavorable impact of working capital changes between periods totaled $ 114.7 million . for 2018 , operating cash flows were impacted by net unfavorable working capital changes of $ 3.0 million , mainly attributable to an increase in accounts receivables partially offset by an increase in payables . for 2019 , operating cash flows were impacted by net unfavorable working capital changes of $ 117.7 million , mainly attributable to the timing of receivables and payables . tax payments for 2019 decreased $ 35.4 million from 2018. interest payments for 2019 decreased $ 4.3 million from 2018. segment profit for 2019 increased $ 24.7 million from 2018. investing activities . the company utilized $ 68.3 million and $ 60.4 million during 2018 and 2019 , respectively , for capital expenditures . the additions related to hard assets ( equipment , furniture and leaseholds ) and capitalized software for 2018 were $ 26.3 million and $ 42.0 million , respectively , as compared to additions for 2019 related to hard assets and capitalized software of $ 15.8 million and $ 44.6 million , respectively . during 2018 the company used $ 59.2 million for the net purchase of `` available-for-sale `` securities . during 2019 the company received $ 41.6 million for the net maturity of `` available-for-sale `` securities . financing activities . during 2018 , the company paid $ 110.0 million on debt obligations , $ 62.6 million for the repurchase of treasury stock under the company 's share repurchase program , $ 12.2 million on finance lease obligations and had other net unfavorable items of $ 1.0 million . in addition , the company received $ 23.1 million from the exercise of stock options . during 2019 , the company paid $ 59.8 million on debt obligations , $ 6.2 million for payments on contingent consideration , $ 4.1 million for the repurchase of treasury stock under the company 's share repurchase program and $ 7.7 million on finance lease obligations . in addition , the company received $ 32.7 million from the exercise of stock options and had other net favorable items of $ 1.8 million . 2018 compared to 2017 operating activities . the company reported net cash provided by operating activities of $ 162.3 million and $ 164.8 million for 2017 and 2018 , respectively . the $ 2.5 million increase in operating cash flows from 2017 to 2018 is mainly attributable to favorable working capital changes and decreased tax payments between years , partially offset by a decrease in segment profit , increased interest payments between years and aca activity . ​ the net favorable impact of working capital changes between periods totaled $ 76.1 million . for 2017 , operating cash flows were impacted by net unfavorable working capital changes of $ 79.1 million , which were largely attributable 43 to timing related to receivables and payables . for 2018 , operating cash flows were impacted by net unfavorable working capital changes of $ 3.0 million , which were largely attributable to an increase in accounts receivable , partially offset by an increase in payables . ​ segment profit for 2018 decreased $ 82.9 million from 2017. tax payments for 2018 decreased $ 19.3 million from 2017. interest payments for 2018 increased by $ 18.8 million from 2017 . ​ investing activities . the company utilized $ 57.2 million and $ 68.3 million during 2017 and 2018 , respectively , for capital expenditures . the additions related to hard assets ( equipment , furniture and leaseholds ) and capitalized software for 2017 were $ 16.0 million and $ 41.2 million , respectively , as compared to additions for 2018 related to hard assets and capitalized software of $ 26.3 million and $ 42.0 million , respectively . during 2017 and 2018 the company used net cash of $ 26.8 million and $ 59.2 million for the net purchase of `` available-for-sale `` securities . during 2017 , the company used net cash of $ 232.4 million related to investments in businesses and the acquisition of veridicus and swh . during 2018 , the company used net cash of $ 1.0 million related to investments in businesses . financing activities . during 2017 , the company paid $ 798.1 million on debt obligations , $ 21.8 million for the repurchase of treasury stock under the company 's share repurchase program , $ 9.9 million in debt issuance fees , $ 5.3 million on finance lease obligations and had other net unfavorable items of $ 2.7 million . in addition , the company received $ 1,041.7 million from the issuance of debt and $ 44.4 million from the exercise of stock options . during 2018 , the company paid $ 110.0 million on debt obligations , $ 62.6 million for the repurchase of treasury stock under the company 's share repurchase program , $ 12.2 million on finance lease obligations and had other net unfavorable items of $ 1.0 million . in addition , the company received $ 23.1 million from the exercise of stock options . outlook—liquidity and capital resources story_separator_special_tag agreements see note 5— “ long-term debt

