goba is a leading provider of barrilito ® branded school and craft products in mexico . the acquisition increased the breadth and depth of our distribution throughout 25 mexico , especially with wholesalers and retailers and added a strong offering of school and craft products to our product portfolio in mexico . the results of goba are included in the acco brands international segment as of july 2 , 2018. esselte group holdings ab acquisition on january 31 , 2017 , we completed the acquisition ( the `` esselte acquisition `` ) of esselte . the acquisition of esselte made acco brands a leading european manufacturer and marketer of branded consumer and office products , and improved acco brands ' scale . esselte products are primarily marketed under the leitz ® , rapid ® and esselte ® brands in the storage and organization , stapling , punching , binding and laminating equipment and do-it-yourself tools product categories . the results of esselte are included in all three of the company 's segments , but primarily in the acco brands emea segment as of february 1 , 2017. for further information on the acquisitions , see `` note 3. acquisitions `` to the consolidated financial statements contained in item 8. of this report . operating segments the company has three operating business segments , each of which is comprised of different geographic regions . the company 's three operating segments are as follows : operating segment geography primary brands primary products acco brands north america united states and canada five star ® , quartet ® , at-a-glance ® , gbc ® , swingline ® , kensington ® , mead ® , and hilroy ® school notebooks , planners , dry erase boards , storage and organization products ( 3-ring binders ) , stapling , punching , laminating , binding products , and computer accessories acco brands emea europe , middle east and africa leitz ® , rapid ® , esselte ® , kensington ® , rexel ® gbc ® , nobo ® , and derwent ® storage and organization products ( lever-arch binders , sheet protectors , indexes ) , stapling , punching , laminating , shredding , do-it-yourself tools , dry erase boards , writing instruments and computer accessories acco brands international australia/n.z . , latin america and asia-pacific tilibra ® , gbc ® , barrilito ® , foroni ® , marbig ® , kensington ® , artline ® * , wilson jones ® , quartet ® , spirax ® , and rexel ® * australia/n.z . only school notebooks , planners , dry erase boards , storage and organization products ( binders , sheet protectors and indexes ) , stapling , punching , laminating , shredding , writing instruments , janitorial supplies and computer accessories each business segment designs , markets , sources , manufactures , and sells recognized consumer and other end-user demanded branded products used in businesses , schools , and homes . product designs are tailored to end-user preferences in each geographic region , and where possible , leverage common engineering , design , and sourcing . our product categories include storage and organization ; stapling ; punching ; laminating , shredding , and binding machines ; dry erase boards ; notebooks ; calendars ; computer accessories ; and do-it-yourself tools , among others . our portfolio includes both globally and regionally recognized brands . the revenue in the north america and international segments includes significant sales of consumer products that have very important , seasonal selling periods related to back-to-school and calendar year-end . for north america and mexico , back-to-school straddles the second and third quarters , and for the southern hemisphere it takes place in the fourth and first quarters . we expect sales of consumer products to become a greater percentage of our revenue because demand for consumer back-to-school products is growing faster than demand for most business-related and calendar products . we distribute our products through a wide variety of retail and commercial channels to ensure that they are readily and conveniently available for purchase by consumers and other end-users , wherever they prefer to shop . these channels include mass retailers , e-tailers , discount , drug/grocery and variety chains , warehouse clubs , hardware and specialty stores , independent office 26 product dealers , office superstores , wholesalers , and contract stationers . we also sell direct to commercial and consumer end-users through e-commerce sites and our direct sales organization . foreign exchange rates approximately 57 percent of our net sales for the year ended december 31 , 2019 , were transacted in a currency other than the u.s. dollar . additionally , we source approximately one half of our products from china and other far eastern countries using u.s. dollars . as a result , our sales , profitability and cash flow are affected by the fluctuation in foreign currency rates relative to the u.s. dollar . during 2019 , the dollar continued to strengthen against foreign currencies , which negatively impacted our sales and operating income . the full year average foreign exchange rates compared with the prior year for most of our major currencies relative to the u.s. dollar is detailed below : replace_table_token_7_th overview of 2019 performance for the year ended december 31 , 2019 , net sales increased 0.7 percent . the goba and foroni acquisitions contributed $ 54.2 million in net sales , which offset negative foreign exchange of $ 55.5 million . the comparable net sales increase of 0.8 percent was due to north america . operating income increased 4.9 percent , primarily due to higher sales and cost savings , which were partially offset by adverse foreign exchange that reduced operating income $ 6.4 million , or 3.4 percent . story_separator_special_tag accounts payable used $ 32.8 million in 2019 , an adverse change of $ 133.8 million when compared with the $ 101.0 million contributed in 2018. this was due to a cycle of earlier inventory purchases which occurred primarily in the fourth quarter of 2018 that resulted in unusually high payables at year-end 2018 ( and higher payments earlier in 2019 ) . inventory purchases returned to more normalized levels during the second half of 2019 , resulting in a reduction in accounts payable at year end . cash flow from investing activities cash used by investing activities was $ 79.6 million and $ 71.9 million for the years ended december 31 , 2019 and 2018 , respectively . the 2019 cash outflow included $ 42.1 million of preliminary purchase price paid for the foroni acquisition in brazil and $ 6.0 million of purchase price paid to acquire certain assets from cumberland stationary in australia , and is net of receipt of the final purchase price adjustment associated with the goba acquisition . the 2018 cash outflow included $ 38.0 million of purchase price , net of cash acquired , paid for goba . for further details , see `` note 3. acquisitions `` to the consolidated financial statements contained in item 8. of this report . capital expenditures were $ 32.8 million and $ 34.1 million for the years ended december 31 , 2019 and 2018 , respectively . cash flow from financing activities cash used by financing activities was $ 163.4 million for the year ended december 31 , 2019 compared to $ 125.6 million used for the same period of 2018 . cash used in 2019 includes net repayments of long-term debt of $ 70.6 million , $ 65.0 million for repurchases of our common stock , payments related to tax withholding for stock-based compensation , net of proceeds received from the exercise of stock options , and $ 24.4 million for the payment of dividends . cash used in 2018 included net repayments of long-term debt of $ 24.2 million , $ 75.7 million for repurchases of our common stock , payments related to tax withholding for stock-based compensation , net of proceeds received from the exercise of stock options , and $ 25.1 million for the payment of dividends . capitalization the company had 96.4 million and 102.7 million shares of common stock outstanding as of december 31 , 2019 and 2018 , respectively . adequacy of liquidity sources based on our 2020 business plan and current forecasts , we believe that cash flow from operations , our current cash balance and borrowings available under our revolving facility will be adequate to support our requirements for working capital , capital expenditures , dividend payments and debt service for the foreseeable future . our future operating performance is dependent on many factors , some of which are beyond our control , including prevailing economic , financial and industry conditions . for further information on these risks , see `` part i , item1a . risk factors . `` off-balance-sheet arrangements and contractual financial obligations the company does not have any material off-balance-sheet arrangements that have , or are reasonably likely to have , a current or future effect on our financial condition , changes in financial condition , revenues or expenses , results of operations , liquidity , capital expenditures or capital resources . 34 our contractual obligations and related payments by period as of december 31 , 2019 were as follows : replace_table_token_12_th ( 1 ) interest calculated at december 31 , 2019 , rates for variable rate debt . ( 2 ) for further information on leases , see `` note 5. leases `` to the consolidated financial statements contained in item 8. of this report . ( 3 ) purchase obligations primarily consist of contracts and non-cancelable purchase orders for raw materials and finished goods . ( 4 ) the u.s. tax act requires companies to pay a one-time transition toll tax , which is payable over eight years . ( 5 ) other long-term liabilities consist of estimated expected employer contributions for 2020 , along with estimated future payments , for pension and post-retirement plans that are not paid from assets held in a plan trust . due to the uncertainty with respect to the timing of future cash flows associated with our unrecognized tax benefits at december 31 , 2019 , we are unable to make reasonably reliable estimates of the period of cash settlement with the respective taxing authorities . therefore , $ 50.5 million of unrecognized tax benefits have been excluded from the contractual obligations table above . for further information , see `` note 12. income taxes `` to the consolidated financial statements contained in item 8. of this report . critical accounting policies our financial statements are prepared in conformity with accounting principles generally accepted in the u.s. ( `` gaap `` ) . preparation of our financial statements requires us to make judgments , estimates and assumptions that affect the reported amounts of assets , liabilities , revenues and expenses presented for each reporting period in the financial statements and the related accompanying notes . actual results could differ significantly from those estimates . we regularly review our assumptions and estimates , which are based on historical experience and , where appropriate , current business trends . we believe that the following discussion addresses our critical accounting policies , which require significant , subjective and complex judgments to be made by our management . revenue recognition revenue is recognized when control of the promised goods or services is transferred to our customers in an amount reflective of the consideration we expect to receive in exchange for those goods or services . taxes we collect concurrent with revenue producing activities are excluded from revenue . incidental items incurred that are immaterial in the context of the contract are expensed . at the inception of each contract ,

use of cash debt repayments $ 70.6 share repurchases 65.0 acquisitions 41.3 dividends 24.4 capital expenditures 32.8 other assets acquired 6.0 27 consolidated results of operations for the years ended december 31 , 2019 and 2018 replace_table_token_8_th ( 1 ) the company acquired foroni effective august 1 , 2019 ; the results of foroni are included as of that date . ( 2 ) the company acquired goba on july 2 , 2018 ; the results of goba are included as of that date . net sales net sales were $ 1,955.7 million , up $ 14.5 million , or 0.7 percent , from $ 1,941.2 million in 2018. net sales benefited from acquisitions with the additional six months for goba and five months for foroni contributing $ 23.7 million and $ 30.5 million , respectively , or 2.8 percent . unfavorable foreign exchange reduced net sales $ 55.5 million , or 2.9 percent . comparable net sales increased $ 15.8 million , or 0.8 percent , as higher net sales in north america , driven by higher pricing to offset inflation and tariffs , were partially offset by a decline in the international segment . emea comparable net sales were essentially flat .


 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.
     ```use of cash debt repayments $ 70.6 share repurchases 65.0 acquisitions 41.3 dividends 24.4 capital expenditures 32.8 other assets acquired 6.0 27 consolidated results of operations for the years ended december 31 , 2019 and 2018 replace_table_token_8_th ( 1 ) the company acquired foroni effective august 1 , 2019 ; the results of foroni are included as of that date . ( 2 ) the company acquired goba on july 2 , 2018 ; the results of goba are included as of that date . net sales net sales were $ 1,955.7 million , up $ 14.5 million , or 0.7 percent , from $ 1,941.2 million in 2018. net sales benefited from acquisitions with the additional six months for goba and five months for foroni contributing $ 23.7 million and $ 30.5 million , respectively , or 2.8 percent . unfavorable foreign exchange reduced net sales $ 55.5 million , or 2.9 percent . comparable net sales increased $ 15.8 million , or 0.8 percent , as higher net sales in north america , driven by higher pricing to offset inflation and tariffs , were partially offset by a decline in the international segment . emea comparable net sales were essentially flat .
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 Suspicious Activity Report : goba is a leading provider of barrilito ® branded school and craft products in mexico . the acquisition increased the breadth and depth of our distribution throughout 25 mexico , especially with wholesalers and retailers and added a strong offering of school and craft products to our product portfolio in mexico . the results of goba are included in the acco brands international segment as of july 2 , 2018. esselte group holdings ab acquisition on january 31 , 2017 , we completed the acquisition ( the `` esselte acquisition `` ) of esselte . the acquisition of esselte made acco brands a leading european manufacturer and marketer of branded consumer and office products , and improved acco brands ' scale . esselte products are primarily marketed under the leitz ® , rapid ® and esselte ® brands in the storage and organization , stapling , punching , binding and laminating equipment and do-it-yourself tools product categories . the results of esselte are included in all three of the company 's segments , but primarily in the acco brands emea segment as of february 1 , 2017. for further information on the acquisitions , see `` note 3. acquisitions `` to the consolidated financial statements contained in item 8. of this report . operating segments the company has three operating business segments , each of which is comprised of different geographic regions . the company 's three operating segments are as follows : operating segment geography primary brands primary products acco brands north america united states and canada five star ® , quartet ® , at-a-glance ® , gbc ® , swingline ® , kensington ® , mead ® , and hilroy ® school notebooks , planners , dry erase boards , storage and organization products ( 3-ring binders ) , stapling , punching , laminating , binding products , and computer accessories acco brands emea europe , middle east and africa leitz ® , rapid ® , esselte ® , kensington ® , rexel ® gbc ® , nobo ® , and derwent ® storage and organization products ( lever-arch binders , sheet protectors , indexes ) , stapling , punching , laminating , shredding , do-it-yourself tools , dry erase boards , writing instruments and computer accessories acco brands international australia/n.z . , latin america and asia-pacific tilibra ® , gbc ® , barrilito ® , foroni ® , marbig ® , kensington ® , artline ® * , wilson jones ® , quartet ® , spirax ® , and rexel ® * australia/n.z . only school notebooks , planners , dry erase boards , storage and organization products ( binders , sheet protectors and indexes ) , stapling , punching , laminating , shredding , writing instruments , janitorial supplies and computer accessories each business segment designs , markets , sources , manufactures , and sells recognized consumer and other end-user demanded branded products used in businesses , schools , and homes . product designs are tailored to end-user preferences in each geographic region , and where possible , leverage common engineering , design , and sourcing . our product categories include storage and organization ; stapling ; punching ; laminating , shredding , and binding machines ; dry erase boards ; notebooks ; calendars ; computer accessories ; and do-it-yourself tools , among others . our portfolio includes both globally and regionally recognized brands . the revenue in the north america and international segments includes significant sales of consumer products that have very important , seasonal selling periods related to back-to-school and calendar year-end . for north america and mexico , back-to-school straddles the second and third quarters , and for the southern hemisphere it takes place in the fourth and first quarters . we expect sales of consumer products to become a greater percentage of our revenue because demand for consumer back-to-school products is growing faster than demand for most business-related and calendar products . we distribute our products through a wide variety of retail and commercial channels to ensure that they are readily and conveniently available for purchase by consumers and other end-users , wherever they prefer to shop . these channels include mass retailers , e-tailers , discount , drug/grocery and variety chains , warehouse clubs , hardware and specialty stores , independent office 26 product dealers , office superstores , wholesalers , and contract stationers . we also sell direct to commercial and consumer end-users through e-commerce sites and our direct sales organization . foreign exchange rates approximately 57 percent of our net sales for the year ended december 31 , 2019 , were transacted in a currency other than the u.s. dollar . additionally , we source approximately one half of our products from china and other far eastern countries using u.s. dollars . as a result , our sales , profitability and cash flow are affected by the fluctuation in foreign currency rates relative to the u.s. dollar . during 2019 , the dollar continued to strengthen against foreign currencies , which negatively impacted our sales and operating income . the full year average foreign exchange rates compared with the prior year for most of our major currencies relative to the u.s. dollar is detailed below : replace_table_token_7_th overview of 2019 performance for the year ended december 31 , 2019 , net sales increased 0.7 percent . the goba and foroni acquisitions contributed $ 54.2 million in net sales , which offset negative foreign exchange of $ 55.5 million . the comparable net sales increase of 0.8 percent was due to north america . operating income increased 4.9 percent , primarily due to higher sales and cost savings , which were partially offset by adverse foreign exchange that reduced operating income $ 6.4 million , or 3.4 percent . story_separator_special_tag accounts payable used $ 32.8 million in 2019 , an adverse change of $ 133.8 million when compared with the $ 101.0 million contributed in 2018. this was due to a cycle of earlier inventory purchases which occurred primarily in the fourth quarter of 2018 that resulted in unusually high payables at year-end 2018 ( and higher payments earlier in 2019 ) . inventory purchases returned to more normalized levels during the second half of 2019 , resulting in a reduction in accounts payable at year end . cash flow from investing activities cash used by investing activities was $ 79.6 million and $ 71.9 million for the years ended december 31 , 2019 and 2018 , respectively . the 2019 cash outflow included $ 42.1 million of preliminary purchase price paid for the foroni acquisition in brazil and $ 6.0 million of purchase price paid to acquire certain assets from cumberland stationary in australia , and is net of receipt of the final purchase price adjustment associated with the goba acquisition . the 2018 cash outflow included $ 38.0 million of purchase price , net of cash acquired , paid for goba . for further details , see `` note 3. acquisitions `` to the consolidated financial statements contained in item 8. of this report . capital expenditures were $ 32.8 million and $ 34.1 million for the years ended december 31 , 2019 and 2018 , respectively . cash flow from financing activities cash used by financing activities was $ 163.4 million for the year ended december 31 , 2019 compared to $ 125.6 million used for the same period of 2018 . cash used in 2019 includes net repayments of long-term debt of $ 70.6 million , $ 65.0 million for repurchases of our common stock , payments related to tax withholding for stock-based compensation , net of proceeds received from the exercise of stock options , and $ 24.4 million for the payment of dividends . cash used in 2018 included net repayments of long-term debt of $ 24.2 million , $ 75.7 million for repurchases of our common stock , payments related to tax withholding for stock-based compensation , net of proceeds received from the exercise of stock options , and $ 25.1 million for the payment of dividends . capitalization the company had 96.4 million and 102.7 million shares of common stock outstanding as of december 31 , 2019 and 2018 , respectively . adequacy of liquidity sources based on our 2020 business plan and current forecasts , we believe that cash flow from operations , our current cash balance and borrowings available under our revolving facility will be adequate to support our requirements for working capital , capital expenditures , dividend payments and debt service for the foreseeable future . our future operating performance is dependent on many factors , some of which are beyond our control , including prevailing economic , financial and industry conditions . for further information on these risks , see `` part i , item1a . risk factors . `` off-balance-sheet arrangements and contractual financial obligations the company does not have any material off-balance-sheet arrangements that have , or are reasonably likely to have , a current or future effect on our financial condition , changes in financial condition , revenues or expenses , results of operations , liquidity , capital expenditures or capital resources . 34 our contractual obligations and related payments by period as of december 31 , 2019 were as follows : replace_table_token_12_th ( 1 ) interest calculated at december 31 , 2019 , rates for variable rate debt . ( 2 ) for further information on leases , see `` note 5. leases `` to the consolidated financial statements contained in item 8. of this report . ( 3 ) purchase obligations primarily consist of contracts and non-cancelable purchase orders for raw materials and finished goods . ( 4 ) the u.s. tax act requires companies to pay a one-time transition toll tax , which is payable over eight years . ( 5 ) other long-term liabilities consist of estimated expected employer contributions for 2020 , along with estimated future payments , for pension and post-retirement plans that are not paid from assets held in a plan trust . due to the uncertainty with respect to the timing of future cash flows associated with our unrecognized tax benefits at december 31 , 2019 , we are unable to make reasonably reliable estimates of the period of cash settlement with the respective taxing authorities . therefore , $ 50.5 million of unrecognized tax benefits have been excluded from the contractual obligations table above . for further information , see `` note 12. income taxes `` to the consolidated financial statements contained in item 8. of this report . critical accounting policies our financial statements are prepared in conformity with accounting principles generally accepted in the u.s. ( `` gaap `` ) . preparation of our financial statements requires us to make judgments , estimates and assumptions that affect the reported amounts of assets , liabilities , revenues and expenses presented for each reporting period in the financial statements and the related accompanying notes . actual results could differ significantly from those estimates . we regularly review our assumptions and estimates , which are based on historical experience and , where appropriate , current business trends . we believe that the following discussion addresses our critical accounting policies , which require significant , subjective and complex judgments to be made by our management . revenue recognition revenue is recognized when control of the promised goods or services is transferred to our customers in an amount reflective of the consideration we expect to receive in exchange for those goods or services . taxes we collect concurrent with revenue producing activities are excluded from revenue . incidental items incurred that are immaterial in the context of the contract are expensed . at the inception of each contract ,

