The recordable rate was 1.34.
We have $120 million of cash and over $400 million of liquidity.
During the year, approximately 200 frontline supervisors completed a 12-month leadership program that covered safety, leadership skills, and LEAN.
Our LEAN journey continued in 2020, with almost 900 entries in our global Manitowoc Way Lessons Learned Competition.
In terms of our balance sheet, we reached our second-half target to reduce inventory by $80 million on a currency-neutral basis.
Our fourth-quarter orders totaled $509 million, an increase of 8% compared to $472 million of orders last year.
On a currency-neutral basis, Q4 orders were up $22 million or 5%.
Our 2020 ending backlog of $543 million was up 14% over the prior year and up 10% on a currency-neutral basis.
Net sales in the fourth quarter of $430 million were in line with our expectations and decreased $33 million or 7% from a year ago.
Net sales were favorably impacted by approximately 4% from changes in foreign currency exchange rates.
Our adjusted EBITDA for the fourth quarter was $34 million, an increase of approximately 11% year over year.
As a percentage of sales, adjusted EBITDA margin improved to 7.9%, an improvement of 120 basis points over the prior year.
During the fourth quarter, we incurred approximately $1 million of restructuring expenses predominantly related to severance costs in India and Europe.
Our GAAP diluted earnings per share in the quarter was $0.05.
On an adjusted basis, diluted earnings per share declined $0.16 from the prior year to $0.19 per diluted share.
We generated $36 million of cash from operating activities in the quarter.
On a currency-neutral basis, we achieved our inventory-reduction target of $80 million in the second half of the year.
We ended the year with a cash balance of $129 million, a decline of approximately $70 million year over year.
However, our total liquidity remained strong at $412 million with no borrowings outstanding on our ABL.
Orders totaled roughly $1.5 billion, down $127 million or 8% from the prior year.
Foreign currency exchange rates benefited 2020 orders by approximately 1%.
Our net sales for the year totaled approximately $1.4 billion, a 21% decrease from 2019, and were positively impacted by $12 million or 1% due to favorable changes in foreign currency exchange rates.
Our adjusted EBITDA declined $74 million or 47% from the prior year, resulting in a 19% decremental margin on nearly $400 million of less revenue.
Our full-year 2020 adjusted net loss was $12 million, compared to net income of $67 million in 2019.
Adjusted diluted net loss per share of $0.35 was impacted by approximately $0.01 from our first-quarter share repurchases.
Full-year cash flows from operating activities were a use of $35 million, primarily driven by the timing of accounts receivable collections and the net loss recorded in the year.
Between our discretionary spending restrictions, bonus program costs, social claim benefits, and increases in insurance costs, we will easily see more than a $15 million cost headwind.
We have earmarked $15 million of capex to further expand our European tower crane rental fleet in 2021.

Summary:
Our GAAP diluted earnings per share in the quarter was $0.05.
On an adjusted basis, diluted earnings per share declined $0.16 from the prior year to $0.19 per diluted share.