Company X has reduced investments in the business from 2018 to 2019, but this reduction is likely to be a one-time effect. (4 points)

2.2 Company X has issued a significant amount of debt to fund its recent investments. (4 points)

2.3 Company X has returned a significant amount of cash to shareholders both through dividends and share repurchases. (4 points)

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Cash Flow For the Fiscal Period Ending Currency 12 months Dec-31-2018 USD 12 months Dec-31-2019 USD Incom Ammort of Goodwilll 13. Intangibl Totall 11.017.0 4,290.0 12.953.0 (220.01 021.0 46.0 (802.0) (57.0) (394.0) (347.0) 899.0 (2.156.0) 24.297.0 25.697.0 (10,234.0) 69.0% 141.0 886.0 (143.0) 793.0 ssh ffroomm (50,854.0) 140.0 (14,841.0) Term 44,781.0 45.160.0 (8,79 (8.798.0) 5.479.0 (1.288.0) (14 (15.64) (504.0) Common Div Totall (33.3% (3.352.0) (3.735.0) (550.0) 5,221. ssh from Fin 27.140.0 (9,181.0) (245.0) 338.0 5.0 1.680.0 Cash Flow For the Fiscal Period Ending Currency 12 months Dec-31-2018 USD 12 months Dec-31-2019 USD Incom Ammort of Goodwilll 13. Intangibl Totall 11.017.0 4,290.0 12.953.0 (220.01 021.0 46.0 (802.0) (57.0) (394.0) (347.0) 899.0 (2.156.0) 24.297.0 25.697.0 (10,234.0) 69.0% 141.0 886.0 (143.0) 793.0 ssh ffroomm (50,854.0) 140.0 (14,841.0) Term 44,781.0 45.160.0 (8,79 (8.798.0) 5.479.0 (1.288.0) (14 (15.64) (504.0) Common Div Totall (33.3% (3.352.0) (3.735.0) (550.0) 5,221. ssh from Fin 27.140.0 (9,181.0) (245.0) 338.0 5.0 1.680.0