For more information, see "Note 2. Intercompany accounts and transactions have been eliminated in consolidation. We also assumed $7.6 million of debt. The Foroni Acquisition increased our share of the back-to-school market in Brazil. Our portfolio includes both globally and regionally recognized brands. Actual results could differ significantly from those estimates. Gains or losses resulting from dispositions are included in operating income. The test may be on a qualitative or quantitative basis as allowed by GAAP. Taxes we collect concurrent with revenue producing activities are excluded from revenue. The reserve includes a general provision for product returns based on historical trends. Effective January 1, 2020, the Company adopted this standard. Revenue Recognition" for the required disclosures related to ASU 2014-09.3. This measurement period will not exceed one year from the acquisition date. The purchase price, net of cash acquired of $1.9 million, was $37.2 million. The Company determines if an arrangement is a lease at inception. Details regarding the plan are outlined in the table below. There was no value to our outstanding PSUs as of December 31, 2020. We have decided to appeal this decision to the judicial level. Derivative Financial Instruments" are Level 2 in the fair value hierarchy.
