$ 4.9 million of the purchase price was attributed to goodwill and $ 2.5 million of the purchase price was attributed to the estimated fair values of the tangible net assets acquired . the goodwill is deductible for tax purposes . the transaction was accounted for as a business combination . net sales , earnings and pro forma results of operations have not been presented because they are not material to our consolidated financial statements . for more information , refer to note 8 to the consolidated financial statements . on july 1 , 2017 , we acquired aptovision , a privately-held provider of uncompressed , zero-frame latency , video-over-ip solutions addressing the professional audio visual market . the unique combination of aptovision 's advanced algorithms for real-time , full bandwidth video transmission over ip networks , and our industry leading high-speed signal integrity and chip development expertise is expected to enable the adoption of sdvoe accelerating this natural progression in the evolution of video transport . under the terms of the share purchase agreement with aptovision , we acquired all of the outstanding equity interest in aptovision for a cash payment of $ 17.6 million at closing , net of acquired cash , and a commitment to pay additional contingent consideration ( the `` aptovision earn-out `` ) of up to a maximum of $ 47.0 million over three years if certain goals are achieved in each of the earn-out periods . to date , we have made $ 9.4 million in payments related to the aptovision earn-out , and based on our assessment of performance , we do not expect to make any future payments . acquisition-related transaction costs of $ 1.6 million were accounted for as an expense in the period in which the costs were incurred and were presented in `` selling , general and administrative `` ( `` sg & a `` ) expense in the consolidated statements of income . see note 3 and note 14 to the consolidated financial statements for additional information on our acquisitions and contingent consideration . 33 factors affecting our performance most of our sales to customers are made on the basis of individual customer purchase orders . many customers include cancellation provisions in their purchase orders . trends within the industry toward shorter lead-times and `` just-in-time `` deliveries have resulted in our reduced ability to predict future shipments . as a result , we rely on orders received and shipped within the same quarter for a significant portion of our sales . sales made directly to custome rs during fiscal years 2020 , 2019 and 2018 were approximately 28 % , 32 % and 34 % of net sales , respectively . the remaining 72 % , 68 % and 66 % of net sales , respectively , were made through independent distributors . our business relies on foreign-based entities . most of our outside subcontractors and suppliers , including third-party foundries that supply silicon waf ers , are located in foreign countries , including china , israel and south korea . in fiscal years 2020 , 2019 and 2018 , 24 % , 16 % and 20 % , respectively , of our silicon in terms of cost of wafers was supplied by a third-party foundry in china , and 11 % , 11 % and 14 % , respectively , of our silicon in terms of cost of wafers was supplied by a third-party foundry in israel . these percentages could be higher in future periods . foreign sales for fiscal years 2020 , 2019 and 2018 constituted appro ximately 91 % , 89 % and 91 % , respectively , of our net sales . approximately 77 % , 76 % and 75 % of net sales in fiscal years 2020 , 2019 and 2018 , respectively , were to customers located in the asia-pacific region . the remaining foreign sales were primarily to customers in europe , canada and mexico . we use several metrics as indicators of future potential growth . the indicators that we believe best correlate to potential future sales growth are design wins and new product releases . there are many factors that may cause a design win or new product release to not result in sales , including a customer decision not to go to system production , a change in a customer 's perspective regarding a product 's value or a customer 's product failing in the end market . as a result , although a design win or new product introduction is an important step towards generating future sales , it does not inevitably result in us being awarded business or receiving a purchase commitment . inflationary factors have not had a significant effect on our performance over the past several years . a significant increase in inflation would affect our future performance if we were unable to pass these higher costs on to our customers . we are continuing to monitor the near term geopolitical uncertainty and the recent export restrictions on shipments to huawei technologies co. , ltd. ( `` huawei `` ) and certain of its affiliates , as well as the recent novel coronavirus outbreak . the following discussion reflects our current assessment of the near term impact of this uncertainty . revenue we derive our revenue primarily from the sale of semiconductor products into various end markets . revenue is recognized when control of these products is transferred to our customers , in an amount that reflects the consideration we expect to be entitled to in exchange for these products . control is generally transferred when products are shipped and , to a lesser extent , when the products are delivered . recovery of costs associated with product design and engineering services are recognized during the period in which services are performed and are reported as a reduction to product development and engineering expense . story_separator_special_tag at that date , we also had $ 293.3 million in cash and cash equivalents and $ 197.0 million of outstanding borrowings on our credit facility , which had $ 403.0 million of undrawn capacity . we incur significant expenditures in order to fund the development , design , and manufacture of new products . we intend to continue to focus on those areas that have shown potential for viable and profitable market opportunities , which may require 38 additional investment in equipment and the hiring of additional design and application engineers aimed at developing new products . certain of these expenditures , particularly the addition of design engineers , do not generate significant payback in the short-term . we plan to finance these expenditures with cash generated by our operations and our existing cash balances . a meaningful portion of our capital resources , and the liquidity they represent , are held by our foreign subsidiaries . as of january 26 , 2020 , our foreign subsidiaries held approximately $ 261.9 million of cash and cash equivalents , compared to $ 253.1 million at january 27 , 2019 . in connection with the enactment of the tax act , all historic and current foreign earnings are taxed in the u.s. and are subject to a 5 % withholding tax , if repatriated . we have determined that we will repatriate back to the u.s. approximately $ 240.0 million of foreign earnings , of which $ 156.1 million has been repatriated since fiscal year 2019. as of january 26 , 2020 , our foreign subsidiaries had $ 547.9 million of unremitted earnings for which no taxes have been provided . those historical earnings have been and are expected to continue to be permanently reinvested . story_separator_special_tag stock options . such exercises are independent decisions made by grantees and are influenced most directly by the stock price and the expiration dates of stock option awards . such proceeds are difficult to forecast , resulting from several factors which are outside our control . we believe that such proceeds will remain a nominal source of cash in the future . stock repurchase program we currently have in effect a stock repurchase program that was initially approved by our board of directors in march 2008. this program represents one of our principal efforts to return value to our stockholders . during fiscal years 2020 , 2019 and 2018 , we repurchased shares of common stock under this program for $ 70.2 million , $ 116.2 million and $ 14.8 million , respectively . as of january 26 , 2020 , we had repurchased $ 337.8 million in shares of our common stock under the program since inception and the remaining authorization under the program was $ 110.6 million . credit facility on november 7 , 2019 , we , with certain of our domestic subsidiaries as guarantors , entered into an amended and restated credit agreement ( the `` credit agreement `` ) with the lenders party thereto and hsbc bank usa , national association , as administrative agent , swing line lender and letter of credit issuer in order to provide a more flexible borrowing structure by expanding the borrowing capacity of the revolving loans under the senior secured first lien credit facility ( the `` credit facility `` ) to $ 600.0 million , eliminating the term loans and extending the maturity to november 7 , 2024. up to $ 40.0 million of the revolving loans may be used to obtain letters of credit , up to $ 25.0 million of the revolving loans may be used to obtain swing line loans , and up to $ 40.0 million of the revolving loans may be used to obtain revolving loans and letters of credit in certain currencies other than u.s. dollars ( `` alternative currencies `` ) . the proceeds of the credit facility may be used by us for capital expenditures , permitted acquisitions , permitted dividends , working capital and general corporate purposes . a portion of the proceeds of the credit facility were used to repay in full all of the obligations outstanding under our then existing senior secured first lien credit facility and to pay transaction costs in connection with such refinancing . in fiscal year 2020 , we received $ 201.0 million in proceeds from our revolving loans and made payments that totaled $ 101.0 million and $ 115.3 million on our revolving loans and on our previous term loans , respectively . as of january 26 , 2020 , we had $ 197.0 million of outstanding borrowings under our revolving loans , which had $ 403.0 million of undrawn borrowing capacity . the amendment of the credit agreement in the fourth quarter of fiscal year 2020 resulted in a loss on early extinguishment of debt totaling $ 0.5 million , related to the write off of unamortized discounts and loan costs , which were presented in `` non-operating income , net `` in the statements of income . the credit agreement provides that , subject to certain customary conditions , including obtaining commitments with respect thereto , we may request the establishment of one or more term loan facilities and or increases to the revolving loans in a principal amount not to exceed ( a ) $ 300.0 million , plus ( b ) an unlimited amount , so long as our consolidated leverage ratio , determined on a pro forma basis , does not exceed 3.00 to 1.00. however , the lenders are not required to provide such increase upon our request . interest on loans made under the credit facility in u.s. dollars accrues , at our option , at a rate per annum equal to ( 1 ) the base rate ( as defined below ) plus a margin ranging from 0.25 % to 1.25 % depending upon our consolidated leverage ratio or ( 2 ) libor ( determined with respect to

cash flows one of our primary goals is to improve the cash flows from our existing business activities . additionally , we will continue to seek to maintain or improve our existing business performance and deploy our accumulated cash balances in the most effective manner through alternatives such as capital expenditures , and potentially , acquisitions and other investments that support achievement of our business strategies . acquisitions may be made for either cash or stock consideration , or a combination of both . in summary , our cash flows for each period were as follows : replace_table_token_13_th operating activities net cash provided by operating activities is due to net income , adjusted for non-cash items , and fluctuations in operating assets and liabilities . operating cash flows for fiscal year 2020 were favorably impacted by $ 1.0 million of proceeds received from the hilight settlement and unfavorably impacted by a $ 9.3 million increase in net inventory . operating cash flows for fiscal year 2019 were favorably impacted by $ 8.0 million of proceeds received from the hilight settlement . investing activities net cash used in investing activities is primarily attributable to capital expenditures and purchases of investments , net of proceeds from sales of property , plant and equipment and proceeds from sales of investments .


 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 one of our primary goals is to improve the cash flows from our existing business activities . additionally , we will continue to seek to maintain or improve our existing business performance and deploy our accumulated cash balances in the most effective manner through alternatives such as capital expenditures , and potentially , acquisitions and other investments that support achievement of our business strategies . acquisitions may be made for either cash or stock consideration , or a combination of both . in summary , our cash flows for each period were as follows : replace_table_token_13_th operating activities net cash provided by operating activities is due to net income , adjusted for non-cash items , and fluctuations in operating assets and liabilities . operating cash flows for fiscal year 2020 were favorably impacted by $ 1.0 million of proceeds received from the hilight settlement and unfavorably impacted by a $ 9.3 million increase in net inventory . operating cash flows for fiscal year 2019 were favorably impacted by $ 8.0 million of proceeds received from the hilight settlement . investing activities net cash used in investing activities is primarily attributable to capital expenditures and purchases of investments , net of proceeds from sales of property , plant and equipment and proceeds from sales of investments .
```    
 Suspicious Activity Report : $ 4.9 million of the purchase price was attributed to goodwill and $ 2.5 million of the purchase price was attributed to the estimated fair values of the tangible net assets acquired . the goodwill is deductible for tax purposes . the transaction was accounted for as a business combination . net sales , earnings and pro forma results of operations have not been presented because they are not material to our consolidated financial statements . for more information , refer to note 8 to the consolidated financial statements . on july 1 , 2017 , we acquired aptovision , a privately-held provider of uncompressed , zero-frame latency , video-over-ip solutions addressing the professional audio visual market . the unique combination of aptovision 's advanced algorithms for real-time , full bandwidth video transmission over ip networks , and our industry leading high-speed signal integrity and chip development expertise is expected to enable the adoption of sdvoe accelerating this natural progression in the evolution of video transport . under the terms of the share purchase agreement with aptovision , we acquired all of the outstanding equity interest in aptovision for a cash payment of $ 17.6 million at closing , net of acquired cash , and a commitment to pay additional contingent consideration ( the `` aptovision earn-out `` ) of up to a maximum of $ 47.0 million over three years if certain goals are achieved in each of the earn-out periods . to date , we have made $ 9.4 million in payments related to the aptovision earn-out , and based on our assessment of performance , we do not expect to make any future payments . acquisition-related transaction costs of $ 1.6 million were accounted for as an expense in the period in which the costs were incurred and were presented in `` selling , general and administrative `` ( `` sg & a `` ) expense in the consolidated statements of income . see note 3 and note 14 to the consolidated financial statements for additional information on our acquisitions and contingent consideration . 33 factors affecting our performance most of our sales to customers are made on the basis of individual customer purchase orders . many customers include cancellation provisions in their purchase orders . trends within the industry toward shorter lead-times and `` just-in-time `` deliveries have resulted in our reduced ability to predict future shipments . as a result , we rely on orders received and shipped within the same quarter for a significant portion of our sales . sales made directly to custome rs during fiscal years 2020 , 2019 and 2018 were approximately 28 % , 32 % and 34 % of net sales , respectively . the remaining 72 % , 68 % and 66 % of net sales , respectively , were made through independent distributors . our business relies on foreign-based entities . most of our outside subcontractors and suppliers , including third-party foundries that supply silicon waf ers , are located in foreign countries , including china , israel and south korea . in fiscal years 2020 , 2019 and 2018 , 24 % , 16 % and 20 % , respectively , of our silicon in terms of cost of wafers was supplied by a third-party foundry in china , and 11 % , 11 % and 14 % , respectively , of our silicon in terms of cost of wafers was supplied by a third-party foundry in israel . these percentages could be higher in future periods . foreign sales for fiscal years 2020 , 2019 and 2018 constituted appro ximately 91 % , 89 % and 91 % , respectively , of our net sales . approximately 77 % , 76 % and 75 % of net sales in fiscal years 2020 , 2019 and 2018 , respectively , were to customers located in the asia-pacific region . the remaining foreign sales were primarily to customers in europe , canada and mexico . we use several metrics as indicators of future potential growth . the indicators that we believe best correlate to potential future sales growth are design wins and new product releases . there are many factors that may cause a design win or new product release to not result in sales , including a customer decision not to go to system production , a change in a customer 's perspective regarding a product 's value or a customer 's product failing in the end market . as a result , although a design win or new product introduction is an important step towards generating future sales , it does not inevitably result in us being awarded business or receiving a purchase commitment . inflationary factors have not had a significant effect on our performance over the past several years . a significant increase in inflation would affect our future performance if we were unable to pass these higher costs on to our customers . we are continuing to monitor the near term geopolitical uncertainty and the recent export restrictions on shipments to huawei technologies co. , ltd. ( `` huawei `` ) and certain of its affiliates , as well as the recent novel coronavirus outbreak . the following discussion reflects our current assessment of the near term impact of this uncertainty . revenue we derive our revenue primarily from the sale of semiconductor products into various end markets . revenue is recognized when control of these products is transferred to our customers , in an amount that reflects the consideration we expect to be entitled to in exchange for these products . control is generally transferred when products are shipped and , to a lesser extent , when the products are delivered . recovery of costs associated with product design and engineering services are recognized during the period in which services are performed and are reported as a reduction to product development and engineering expense . story_separator_special_tag at that date , we also had $ 293.3 million in cash and cash equivalents and $ 197.0 million of outstanding borrowings on our credit facility , which had $ 403.0 million of undrawn capacity . we incur significant expenditures in order to fund the development , design , and manufacture of new products . we intend to continue to focus on those areas that have shown potential for viable and profitable market opportunities , which may require 38 additional investment in equipment and the hiring of additional design and application engineers aimed at developing new products . certain of these expenditures , particularly the addition of design engineers , do not generate significant payback in the short-term . we plan to finance these expenditures with cash generated by our operations and our existing cash balances . a meaningful portion of our capital resources , and the liquidity they represent , are held by our foreign subsidiaries . as of january 26 , 2020 , our foreign subsidiaries held approximately $ 261.9 million of cash and cash equivalents , compared to $ 253.1 million at january 27 , 2019 . in connection with the enactment of the tax act , all historic and current foreign earnings are taxed in the u.s. and are subject to a 5 % withholding tax , if repatriated . we have determined that we will repatriate back to the u.s. approximately $ 240.0 million of foreign earnings , of which $ 156.1 million has been repatriated since fiscal year 2019. as of january 26 , 2020 , our foreign subsidiaries had $ 547.9 million of unremitted earnings for which no taxes have been provided . those historical earnings have been and are expected to continue to be permanently reinvested . story_separator_special_tag stock options . such exercises are independent decisions made by grantees and are influenced most directly by the stock price and the expiration dates of stock option awards . such proceeds are difficult to forecast , resulting from several factors which are outside our control . we believe that such proceeds will remain a nominal source of cash in the future . stock repurchase program we currently have in effect a stock repurchase program that was initially approved by our board of directors in march 2008. this program represents one of our principal efforts to return value to our stockholders . during fiscal years 2020 , 2019 and 2018 , we repurchased shares of common stock under this program for $ 70.2 million , $ 116.2 million and $ 14.8 million , respectively . as of january 26 , 2020 , we had repurchased $ 337.8 million in shares of our common stock under the program since inception and the remaining authorization under the program was $ 110.6 million . credit facility on november 7 , 2019 , we , with certain of our domestic subsidiaries as guarantors , entered into an amended and restated credit agreement ( the `` credit agreement `` ) with the lenders party thereto and hsbc bank usa , national association , as administrative agent , swing line lender and letter of credit issuer in order to provide a more flexible borrowing structure by expanding the borrowing capacity of the revolving loans under the senior secured first lien credit facility ( the `` credit facility `` ) to $ 600.0 million , eliminating the term loans and extending the maturity to november 7 , 2024. up to $ 40.0 million of the revolving loans may be used to obtain letters of credit , up to $ 25.0 million of the revolving loans may be used to obtain swing line loans , and up to $ 40.0 million of the revolving loans may be used to obtain revolving loans and letters of credit in certain currencies other than u.s. dollars ( `` alternative currencies `` ) . the proceeds of the credit facility may be used by us for capital expenditures , permitted acquisitions , permitted dividends , working capital and general corporate purposes . a portion of the proceeds of the credit facility were used to repay in full all of the obligations outstanding under our then existing senior secured first lien credit facility and to pay transaction costs in connection with such refinancing . in fiscal year 2020 , we received $ 201.0 million in proceeds from our revolving loans and made payments that totaled $ 101.0 million and $ 115.3 million on our revolving loans and on our previous term loans , respectively . as of january 26 , 2020 , we had $ 197.0 million of outstanding borrowings under our revolving loans , which had $ 403.0 million of undrawn borrowing capacity . the amendment of the credit agreement in the fourth quarter of fiscal year 2020 resulted in a loss on early extinguishment of debt totaling $ 0.5 million , related to the write off of unamortized discounts and loan costs , which were presented in `` non-operating income , net `` in the statements of income . the credit agreement provides that , subject to certain customary conditions , including obtaining commitments with respect thereto , we may request the establishment of one or more term loan facilities and or increases to the revolving loans in a principal amount not to exceed ( a ) $ 300.0 million , plus ( b ) an unlimited amount , so long as our consolidated leverage ratio , determined on a pro forma basis , does not exceed 3.00 to 1.00. however , the lenders are not required to provide such increase upon our request . interest on loans made under the credit facility in u.s. dollars accrues , at our option , at a rate per annum equal to ( 1 ) the base rate ( as defined below ) plus a margin ranging from 0.25 % to 1.25 % depending upon our consolidated leverage ratio or ( 2 ) libor ( determined with respect to

