the total amount outstanding under our credit facility increased $ 35.0 million to $ 100.0 million as of december 31 , 2020 as compared to $ 65.0 million as of december 31 , 2019. we exited the year with $ 3.5 million of net cash compared to $ 45.2 million of net debt as of december 31 , 2019. cash provided by operating activities was $ 109.2 million during the year ended december 31 , 2020 compared to $ 66.6 million for 2019 , primarily due to the deferral of roughly $ 38.6 million in payroll taxes as a result of the coronavirus , aid , relief and economic security act ( the “ cares act ” ) . 14 results of operations certain discussions of the changes in our results of operations from the year ended december 31 , 2019 as compared to the year ended december 31 , 2018 have been omitted from this form 10-k , but may be found in “ item 7. management 's discussion and analysis of financial condition and results of operations ” of our form 10-k for the fiscal year ended december 31 , 2019 filed with the sec on february 21 , 2020. in 2020 , the u.s. and global macro-economic environments were severely impacted by the covid-19 economic and health crisis . certain sectors of the u.s. economy were more acutely impacted by this crisis , such as the hospitality , transportation , retail , entertainment , health services and manufacturing sectors . we generate revenue within each of the aforementioned sectors of the u.s. economy though our top three industries served are financial services , business services and telecommunications . , which have not been as acutely impacted by this crisis . despite certain adverse effects to our business due to the abrupt economic disruption from the covid-19 economic and health crisis and related governmental rules and regulations , we believe we were strategically well-situated as we entered the crisis in early 2020. the decisions we made to principally focus our efforts on helping world-class companies solve their strategic objectives by providing critical technology talent and solutions provided an important level of resilience to our revenues in 2020. in addition , the covid-19 business provided an important level of support to overall fa revenues , which were more acutely impacted at the beginning of this crisis . our strategic positioning and execution resulted in what we believe is strong financial performance in 2020 and provides us confidence moving forward . the following table presents certain items in our consolidated statements of operations and comprehensive income as a percentage of revenue for the years ended : replace_table_token_2_th 15 revenue . the following table presents revenue by type for each segment and percentage change from the prior period for the years ended december 31 ( in thousands ) : replace_table_token_3_th our quarterly operating results are affected by the number of billing days in a quarter . the following table presents the year-over-year revenue growth rates , on a billing day basis , for the last five quarters ( in thousands , except billing days ) : replace_table_token_4_th flex revenue . the key drivers of flex revenue are the number of consultants on assignment , billable hours , the bill rate per hour and , to a limited extent , the amount of billable expenses incurred by kforce . flex revenue for our largest segment , tech , decreased 0.4 % ( 0.8 % on a billing day basis ) during the year ended december 31 , 2020 , as compared to the same period in 2019. the decline was primarily driven by assignment ends with clients in industries that were most significantly impacted by the covid-19 economic and health crisis and lower overall demand for our services as a result of the crisis . the number of consultants on assignment in tech flex have grown 15 % since early june 2020 and new assignment starts in the fourth quarter of 2020 increased 16 % from the third quarter of 2020. additionally , lower billable hours in our tech business were partially offset by higher average bill rates , which increased 4.3 % on a year-over-year basis in 2020. this increase was primarily due to our clients retaining our more highly skilled consultants given the scarcity of talent and the assignments that were ended at the onset of this pandemic were lower skilled areas that were less capable of working remotely . we believe that the crisis has exponentially elevated the imperative for companies to rapidly digitize their businesses , transform business models and drive productivity gains through technology investment . we expect growth in our tech flex business in 2021 as covid-19 related restrictions ease and economic momentum builds . our fa segment experienced an increase in flex revenue of 26.3 % during the year ended december 31 , 2020 , as compared to the same period in 2019 , primarily driven by the covid-19 business that contributed approximately $ 114.7 million in revenue during the year ended december 31 , 2020. this positively impacted fa flex revenue growth rates by 43.7 % for 2020. similar to our tech flex business , we have been successful at growing the number of consultants on assignment in our fa business ( excluding the covid-19 business ) by 33 % since early june 2020. as we move into 2021 , we expect overall revenues in fa flex to decline as a result of expected declines in revenues from our covid-19 business as well as the strategic migration of our fa business towards more highly-skilled roles that are less susceptible to technological change location and automation . story_separator_special_tag these off-balance sheet arrangements do not provide financing , liquidity , market or credit risk support . contractual obligations and commitments the following table presents our expected future contractual obligations as of december 31 , 2020 ( in thousands ) : replace_table_token_20_th ( 1 ) our credit facility matures may 25 , 2022. our interest rate as of december 31 , 2020 was used to forecast the expected future interest rate payments . these payments are inherently uncertain due to fluctuations in interest rates and outstanding borrowings that will occur over the remaining term of the credit facility . ( 2 ) purchase obligations include agreements to purchase goods and services that are enforceable , legally binding and specify all significant terms . ( 3 ) our notes payable as of december 31 , 2020 relates to equipment financing arrangements and are classified in other current liabilities if payable within the next year or in other long-term liabilities if payable after the next year in the accompanying consolidated balance sheets . the interest rate on the notes range from 2.58 % to 2.71 % and expire between april 2020 and october 2021 . ( 4 ) kforce maintains various non-qualified deferred compensation plans pursuant to which eligible management and highly-compensated key employees may elect to defer all or part of their compensation to later years . these amounts are included in the accompanying consolidated balance sheets and classified as accounts payable and other accrued liabilities and other long-term liabilities , as appropriate , and are payable based upon the elections of the plan participants ( e.g . retirement , termination of employment , change-in-control ) . amounts payable upon the retirement or termination of employment may become payable during the next five years if covered employees schedule a distribution , retire or terminate during that time . ( 5 ) there is no funding requirement associated with our supplemental executive retirement plan ( “ serp ” ) and , as a result , no contributions have been made through the year ended december 31 , 2020. kforce does not currently anticipate funding the serp during 2021. kforce has included the total undiscounted projected benefit payments , as determined at december 31 , 2020 , in the table above . ( 6 ) kforce 's liability for unrecognized tax positions , as of december 31 , 2020 , was $ 0.2 million . this balance has been excluded from the table above due to the significant uncertainty with respect to the timing and amount of settlement , if any . critical accounting estimates our significant accounting policies are discussed in note 1 – “ summary of significant accounting policies ” in the notes to consolidated financial statements , included in item 8. financial statements and supplementary data of this report . our consolidated financial statements are prepared in accordance with gaap . in connection with the preparation of our consolidated financial statements , we are required to make assumptions and estimates about future events , and apply judgments that affect the reported amount of assets , liabilities , revenues , expenses and the related disclosures . we base our assumptions , estimates and judgments on historical experience , current trends and other factors that management believes to be relevant at the time our consolidated financial statements are prepared . on a regular basis , management reviews the accounting policies , estimates , assumptions and judgments to ensure that our consolidated financial statements are presented fairly and in accordance with gaap . however , because future events and their effects can not be determined with certainty , actual results could differ from our assumptions and estimates , and such differences could be material . management believes that the following accounting estimates are the most critical to aid in fully understanding and evaluating our reported financial results , and they require management 's most difficult , subjective or complex judgments , resulting from the need to make estimates about the effect of matters that are inherently uncertain . we have not made any material changes in our accounting methodologies used in prior years . 23 allowance for credit losses management performs an ongoing analysis of factors in establishing its allowance for doubtful accounts including recent write-off and delinquency trends , a specific analysis of significant receivable balances that are past due , the concentration of accounts receivable among clients and higher-risk sectors , and the current state of the u.s. economy . a 10 % change in accounts reserved , at december 31 , 2020 , would have impacted our net income by approximately $ 0.3 million in 2020. on january 1 , 2020 , we adopted an accounting standard that requires companies to estimate and recognize lifetime expected losses , rather than incurred losses , which results in the earlier recognition of credit losses even if the expected risk of credit loss is remote . the accounting standard applies to most financial assets , including trade receivables and direct financing leases . the standard does not apply to the receivables arising from operating leases . upon adoption of the new standard on january 1 , 2020 , we recognized a credit loss adjustment related to adoption of this accounting standard as a cumulative adjustment to retained earnings . for details , refer to note 5 - “ allowance for credit losses ” in the notes to consolidated financial statements , included in item 8. financial statements and supplementary data of this report . accounting for income taxes our effective income tax rate is influenced by tax planning opportunities available to us in the various jurisdictions in which we conduct business . significant judgment is required in determining our effective tax rate and in evaluating our tax positions , including those that may be uncertain . we are also required to exercise judgment with respect to the realization of our net deferred tax assets . management evaluates positive and negative evidence and exercises

liquidity and capital resources to meet our capital and liquidity requirements , we primarily rely on operating cash flow , as well as borrowings under our credit facility . at december 31 , 2020 and 2019 , we had $ 103.5 million and $ 19.8 million , respectively , in cash and cash equivalents , which consisted primarily of government money market funds . at december 31 , 2020 , kforce had $ 230.7 million in working capital compared to $ 160.3 million at december 31 , 2019. cash flows our business has historically generated a significant amount of operating cash flows , which gives us a great opportunity to balance deploying available capital towards ( i ) investing in our infrastructure to allow sustainable growth via capital expenditures , ( ii ) our dividend and share repurchase programs , and ( iii ) maintaining sufficient liquidity to complete acquisitions or other strategic investments . the following table presents a summary of our net cash flows from operating , investing and financing activities ( in thousands ) : replace_table_token_17_th our consolidated statements of cash flows are presented on a combined basis ( continuing operations and discontinued operations ) . as previously discussed , the gs segment was sold and has been reflected as discontinued operations . the absence of cash flows from the gs segment is not expected to have a significant effect on the future liquidity , financial position or capital resources of kforce . the following table provides information for the total operating and investing cash flows for the gs segment ( in thousands ) : replace_table_token_18_th operating activities cash provided by operating activities was $ 109.2 million during the year ended december 31 , 2020 , as compared to $ 66.6 million during the year ended december 31 , 2019. our largest source of operating cash flows is the collection of trade receivables , and our largest use of operating cash flows is the payment of our associate and consultant compensation .


 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 and capital resources to meet our capital and liquidity requirements , we primarily rely on operating cash flow , as well as borrowings under our credit facility . at december 31 , 2020 and 2019 , we had $ 103.5 million and $ 19.8 million , respectively , in cash and cash equivalents , which consisted primarily of government money market funds . at december 31 , 2020 , kforce had $ 230.7 million in working capital compared to $ 160.3 million at december 31 , 2019. cash flows our business has historically generated a significant amount of operating cash flows , which gives us a great opportunity to balance deploying available capital towards ( i ) investing in our infrastructure to allow sustainable growth via capital expenditures , ( ii ) our dividend and share repurchase programs , and ( iii ) maintaining sufficient liquidity to complete acquisitions or other strategic investments . the following table presents a summary of our net cash flows from operating , investing and financing activities ( in thousands ) : replace_table_token_17_th our consolidated statements of cash flows are presented on a combined basis ( continuing operations and discontinued operations ) . as previously discussed , the gs segment was sold and has been reflected as discontinued operations . the absence of cash flows from the gs segment is not expected to have a significant effect on the future liquidity , financial position or capital resources of kforce . the following table provides information for the total operating and investing cash flows for the gs segment ( in thousands ) : replace_table_token_18_th operating activities cash provided by operating activities was $ 109.2 million during the year ended december 31 , 2020 , as compared to $ 66.6 million during the year ended december 31 , 2019. our largest source of operating cash flows is the collection of trade receivables , and our largest use of operating cash flows is the payment of our associate and consultant compensation .
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 Suspicious Activity Report : the total amount outstanding under our credit facility increased $ 35.0 million to $ 100.0 million as of december 31 , 2020 as compared to $ 65.0 million as of december 31 , 2019. we exited the year with $ 3.5 million of net cash compared to $ 45.2 million of net debt as of december 31 , 2019. cash provided by operating activities was $ 109.2 million during the year ended december 31 , 2020 compared to $ 66.6 million for 2019 , primarily due to the deferral of roughly $ 38.6 million in payroll taxes as a result of the coronavirus , aid , relief and economic security act ( the “ cares act ” ) . 14 results of operations certain discussions of the changes in our results of operations from the year ended december 31 , 2019 as compared to the year ended december 31 , 2018 have been omitted from this form 10-k , but may be found in “ item 7. management 's discussion and analysis of financial condition and results of operations ” of our form 10-k for the fiscal year ended december 31 , 2019 filed with the sec on february 21 , 2020. in 2020 , the u.s. and global macro-economic environments were severely impacted by the covid-19 economic and health crisis . certain sectors of the u.s. economy were more acutely impacted by this crisis , such as the hospitality , transportation , retail , entertainment , health services and manufacturing sectors . we generate revenue within each of the aforementioned sectors of the u.s. economy though our top three industries served are financial services , business services and telecommunications . , which have not been as acutely impacted by this crisis . despite certain adverse effects to our business due to the abrupt economic disruption from the covid-19 economic and health crisis and related governmental rules and regulations , we believe we were strategically well-situated as we entered the crisis in early 2020. the decisions we made to principally focus our efforts on helping world-class companies solve their strategic objectives by providing critical technology talent and solutions provided an important level of resilience to our revenues in 2020. in addition , the covid-19 business provided an important level of support to overall fa revenues , which were more acutely impacted at the beginning of this crisis . our strategic positioning and execution resulted in what we believe is strong financial performance in 2020 and provides us confidence moving forward . the following table presents certain items in our consolidated statements of operations and comprehensive income as a percentage of revenue for the years ended : replace_table_token_2_th 15 revenue . the following table presents revenue by type for each segment and percentage change from the prior period for the years ended december 31 ( in thousands ) : replace_table_token_3_th our quarterly operating results are affected by the number of billing days in a quarter . the following table presents the year-over-year revenue growth rates , on a billing day basis , for the last five quarters ( in thousands , except billing days ) : replace_table_token_4_th flex revenue . the key drivers of flex revenue are the number of consultants on assignment , billable hours , the bill rate per hour and , to a limited extent , the amount of billable expenses incurred by kforce . flex revenue for our largest segment , tech , decreased 0.4 % ( 0.8 % on a billing day basis ) during the year ended december 31 , 2020 , as compared to the same period in 2019. the decline was primarily driven by assignment ends with clients in industries that were most significantly impacted by the covid-19 economic and health crisis and lower overall demand for our services as a result of the crisis . the number of consultants on assignment in tech flex have grown 15 % since early june 2020 and new assignment starts in the fourth quarter of 2020 increased 16 % from the third quarter of 2020. additionally , lower billable hours in our tech business were partially offset by higher average bill rates , which increased 4.3 % on a year-over-year basis in 2020. this increase was primarily due to our clients retaining our more highly skilled consultants given the scarcity of talent and the assignments that were ended at the onset of this pandemic were lower skilled areas that were less capable of working remotely . we believe that the crisis has exponentially elevated the imperative for companies to rapidly digitize their businesses , transform business models and drive productivity gains through technology investment . we expect growth in our tech flex business in 2021 as covid-19 related restrictions ease and economic momentum builds . our fa segment experienced an increase in flex revenue of 26.3 % during the year ended december 31 , 2020 , as compared to the same period in 2019 , primarily driven by the covid-19 business that contributed approximately $ 114.7 million in revenue during the year ended december 31 , 2020. this positively impacted fa flex revenue growth rates by 43.7 % for 2020. similar to our tech flex business , we have been successful at growing the number of consultants on assignment in our fa business ( excluding the covid-19 business ) by 33 % since early june 2020. as we move into 2021 , we expect overall revenues in fa flex to decline as a result of expected declines in revenues from our covid-19 business as well as the strategic migration of our fa business towards more highly-skilled roles that are less susceptible to technological change location and automation . story_separator_special_tag these off-balance sheet arrangements do not provide financing , liquidity , market or credit risk support . contractual obligations and commitments the following table presents our expected future contractual obligations as of december 31 , 2020 ( in thousands ) : replace_table_token_20_th ( 1 ) our credit facility matures may 25 , 2022. our interest rate as of december 31 , 2020 was used to forecast the expected future interest rate payments . these payments are inherently uncertain due to fluctuations in interest rates and outstanding borrowings that will occur over the remaining term of the credit facility . ( 2 ) purchase obligations include agreements to purchase goods and services that are enforceable , legally binding and specify all significant terms . ( 3 ) our notes payable as of december 31 , 2020 relates to equipment financing arrangements and are classified in other current liabilities if payable within the next year or in other long-term liabilities if payable after the next year in the accompanying consolidated balance sheets . the interest rate on the notes range from 2.58 % to 2.71 % and expire between april 2020 and october 2021 . ( 4 ) kforce maintains various non-qualified deferred compensation plans pursuant to which eligible management and highly-compensated key employees may elect to defer all or part of their compensation to later years . these amounts are included in the accompanying consolidated balance sheets and classified as accounts payable and other accrued liabilities and other long-term liabilities , as appropriate , and are payable based upon the elections of the plan participants ( e.g . retirement , termination of employment , change-in-control ) . amounts payable upon the retirement or termination of employment may become payable during the next five years if covered employees schedule a distribution , retire or terminate during that time . ( 5 ) there is no funding requirement associated with our supplemental executive retirement plan ( “ serp ” ) and , as a result , no contributions have been made through the year ended december 31 , 2020. kforce does not currently anticipate funding the serp during 2021. kforce has included the total undiscounted projected benefit payments , as determined at december 31 , 2020 , in the table above . ( 6 ) kforce 's liability for unrecognized tax positions , as of december 31 , 2020 , was $ 0.2 million . this balance has been excluded from the table above due to the significant uncertainty with respect to the timing and amount of settlement , if any . critical accounting estimates our significant accounting policies are discussed in note 1 – “ summary of significant accounting policies ” in the notes to consolidated financial statements , included in item 8. financial statements and supplementary data of this report . our consolidated financial statements are prepared in accordance with gaap . in connection with the preparation of our consolidated financial statements , we are required to make assumptions and estimates about future events , and apply judgments that affect the reported amount of assets , liabilities , revenues , expenses and the related disclosures . we base our assumptions , estimates and judgments on historical experience , current trends and other factors that management believes to be relevant at the time our consolidated financial statements are prepared . on a regular basis , management reviews the accounting policies , estimates , assumptions and judgments to ensure that our consolidated financial statements are presented fairly and in accordance with gaap . however , because future events and their effects can not be determined with certainty , actual results could differ from our assumptions and estimates , and such differences could be material . management believes that the following accounting estimates are the most critical to aid in fully understanding and evaluating our reported financial results , and they require management 's most difficult , subjective or complex judgments , resulting from the need to make estimates about the effect of matters that are inherently uncertain . we have not made any material changes in our accounting methodologies used in prior years . 23 allowance for credit losses management performs an ongoing analysis of factors in establishing its allowance for doubtful accounts including recent write-off and delinquency trends , a specific analysis of significant receivable balances that are past due , the concentration of accounts receivable among clients and higher-risk sectors , and the current state of the u.s. economy . a 10 % change in accounts reserved , at december 31 , 2020 , would have impacted our net income by approximately $ 0.3 million in 2020. on january 1 , 2020 , we adopted an accounting standard that requires companies to estimate and recognize lifetime expected losses , rather than incurred losses , which results in the earlier recognition of credit losses even if the expected risk of credit loss is remote . the accounting standard applies to most financial assets , including trade receivables and direct financing leases . the standard does not apply to the receivables arising from operating leases . upon adoption of the new standard on january 1 , 2020 , we recognized a credit loss adjustment related to adoption of this accounting standard as a cumulative adjustment to retained earnings . for details , refer to note 5 - “ allowance for credit losses ” in the notes to consolidated financial statements , included in item 8. financial statements and supplementary data of this report . accounting for income taxes our effective income tax rate is influenced by tax planning opportunities available to us in the various jurisdictions in which we conduct business . significant judgment is required in determining our effective tax rate and in evaluating our tax positions , including those that may be uncertain . we are also required to exercise judgment with respect to the realization of our net deferred tax assets . management evaluates positive and negative evidence and exercises

