as a result , our foreign businesses contributed over half of our sales in 2020 , up from 43 percent in 2016. our most recent acquisition of powera in late 2020 is about accelerating growth and entering into an attractive consumer product adjacency of third-party video game controllers , power charging stations , and headsets . the addition of powera will meaningfully improve our organic sales growth and profitability and increase our presence in faster growing mass and e-commerce channels . powera is expected to provide strong double-digit sales growth in the u.s. , as well as opportunities for expansion internationally , particularly in europe . it greatly advances our strategic shift toward consumer , school and technology products as more than half of our sales will now come from these product categories , which offer faster growing 28 demand . on a pro forma basis , including full year powera sales for 2020 , computer and gaming products would represent approximately 22 percent of our sales . our leading product category positions provide the scale to invest in marketing and product innovation to drive profitable growth . we now expect to grow in mature markets in consumer , technology , and adjacent categories driven by new product development . we will also continue to grow in emerging markets once the impact of covid-19 subsides in latin america and parts of asia , the middle east , and eastern europe . in all of our markets , we see opportunities for sales growth through share gains , channel and geographic expansion , and product enhancements . we generate strong operating cash flow , and will continue to leverage our cost structure through acquisitions , synergies and productivity savings to drive long-term profit and operating cash flow improvement . overview of 2020 performance as used in this annual report on form 10-k , `` covid-19 impacts `` include the operational , financial , and other effects on acco brands , our customers and end users of our products , of school and business closures , work from home , remote and hybrid learning , government orders and manufacturing , distribution , supply chain and other disruptions resulting from covid-19 , and the actions acco brands , our customers and end users have taken in response to the pandemic , including actions we have taken to manage our inventory and credit risk under the circumstances . the covid-19 impacts on our business have varied and continue to vary significantly by geographic region and country depending upon a range of factors , including how seriously the pandemic is affecting public health in the country and whether and to what degree businesses and schools are open , the general seasonality of our business in that country , the nature and level of government support , and the channel structure . during 2020 , all segments were impacted by covid-19 , but emea experienced lower impacts and our international segment experienced , and continues to experience , the highest impacts , largely in latin america due to the seriousness of the pandemic and the dependence of our brazilian and mexican businesses on the sale of school products . many schools and offices in latin america have been closed since the onset of the pandemic and access to online learning is limited . in north america , following good sell-in of back-to-school products in the second quarter , our third quarter sales were adversely affected by weaker sell-out . our net sales declined $ 300.5 million , or 15.4 percent in 2020 primarily from covid-19 impacts . those impacts vary based upon the channel . replace_table_token_5_th operating income declined 42.7 percent , primarily due to the lower sales , partially offset by company-wide cost reductions and government assistance in certain countries , generally in return for maintaining employment , pay and benefits . foreign exchange had a minimal impact on sales . from a net profit perspective , foreign exchange was unfavorable by $ 0.8 million . operating cash inflow for 2020 was $ 119.2 million compared with last year 's operating cash inflow of $ 203.9 million . the $ 84.7 million year-over-year difference was due to lower net income . operating cash flow in 2020 was used to fund : ( in millions ) use of cash debt repayments $ 51.3 share repurchases 16.3 dividends 24.6 capital expenditures 15.3 increase in cash on hand 8.8 debt issuance cost 3.2 29 covid-19 impact covid-19 and the actions being taken by national , state and local governments , businesses , schools and others to address it ( including work from home , quarantines , travel restrictions , business and school closures , remote and hybrid learning , and cancellations of , and limitations on , public gatherings ) have caused and continue to cause significant disruptions to normal business operations and have had , and are expected to continue to have , significant adverse impacts on our customers and end-users worldwide . similarly , our business , sales , earnings , and results of operations have been and will continue to be materially adversely affected by these events , as well as the current and expected continued negative impact on the global economy . we expect that uncertainties regarding when the risks of the pandemic will subside and how geographies , distribution channels and consumer behaviors will evolve over time in response to the pandemic will continue . we expect the company to be in a stronger competitive position after the pandemic because of our strong brands , more diversified and healthier channels , investments in innovative products , solid financial position , and disciplined execution . we are assessing likely changes to consumer behavior post pandemic and will continue to adjust our business and product strategy to align with evolving consumer preferences . story_separator_special_tag selling , general and administrative expenses selling , general and administrative expenses ( `` sg & a `` ) include advertising , marketing , selling ( including commissions ) , research and development , customer service , depreciation related to assets outside the manufacturing and distribution processes , and all other general and administrative expenses outside the manufacturing and distribution functions ( e.g . , finance , human resources , information technology ) . for the year ended december 31 , 2020 , foreign exchange reduced sg & a $ 3.9 million , or 1.0 percent , and the acquisitions added $ 7.4 million , or 1.9 percent , including $ 4.4 million of integration and transaction costs . t he prior-year period included $ 2.3 million in integration costs related to prior acquisitions . excluding the acquisitions , integration and transaction costs , and foreign exchange , sg & a benefited from cost reductions and lower incentive accruals , partly offset by increases for bad debts . we received $ 5.2 million in governm ent assistance , primarily provided in return for maintaining employment and wages . for the year ended december 31 , 2020 , sg & a as a percentage of net sales increased , primarily due to lower net sales . restructuring charges for the year ended december 31 , 2020 , r estructuring charges were $ 10.9 million . costs associated with severance expense in north america were $ 6.2 million . the remainder of the severance charges were primarily in brazil , mexico , and australia . lease abandonment charges were $ 1.5 million related to facilities in north america . the prior-year charges were related to severance costs associated with changes in the operating structure of our north america and international segments . operating income for the year ended december 31 , 2020 , operating income decreased , primarily due to lower net sales from covid-19 impacts , which were partially offset by cost reductions . foreign exchange benefited operating income $ 1.5 million , or 0.8 percent . foroni contributed a loss of $ 2.7 million and powera added operating income of $ 0.4 million . interest expense and income for the year ended december 31 , 2020 , the decrease in interest expense was primarily due to lower average debt outstanding and lower interest rates on our variable rate debt . the decrease in interest income was primarily due to lower cash balances being held in brazil . other expense ( income ) , net other expense ( income ) , net was an expense of $ 1.6 million compared with income of $ 1.8 million in 2019. the increase in expense was primarily due to the higher foreign exchange loss in 2020 and a lower benefit from using our brazilian operating tax credits . income tax expense for the year ended december 31 , 2020 , we recorded income tax expense of $ 16.6 million on income before taxes of $ 78.6 million for an effective tax rate of 21.1 percent . the decrease in the effective rate versus 2019 was primarily due to an increase in reserves for uncertain tax positions in the prior year , the election to exclude high-taxed intangible income from the global intangible low-taxed income ( `` gilti `` ) computation , and beneficial adjustments to deferred taxes resulting from statutory tax rate changes . for the year ended december 31 , 2019 , the high effective tax rate was primarily due to $ 5.6 million in additional reserves for uncertain tax positions in connection with the brazil tax assessments that were recorded in the first quarter of 2019. see `` note 12. income taxes - brazil tax assessments `` to the condensed consolidated financial statements contained in part ii , item 8. of this report for additional details . 35 net income/diluted income per share for the year ended december 31 , 2020 , net income decreased primarily due to lower operating income . foreign exchange decreased net income $ 0.8 million , or 0.7 percent . diluted income per share benefited from fewer outstanding shares . segment net sales and operating income for the years ended december 31 , 2020 and 2019 acco brands north america replace_table_token_8_th ( 1 ) segment operating income excludes corporate costs . see `` note 18. information on business segments `` to the consolidated financial statements contained in part ii , item 8. of this report for a reconciliation of total `` segment operating income `` to `` income before income tax . `` ( 2 ) see reconciliation to gaap , contained in part ii , item 6 . `` supplemental non-gaap financial measures . `` for the year ended december 31 , 2020 , net sales and comparable sales decreased primarily from lower demand due to covid-19 impacts . the p owera acquisition added $ 5.8 million . kensington ® and trusens ® branded products had strong sales growth . back-to-school sales for the year were approximately 9.0 percent below 2019 primarily due to a reduction in the total back-to-school market as a result of the pandemic . in addition , sales of private label products and sales to certain retailers decreased . we experienced more severe covid-19 impacts in our commercial product lines while sales to mass/retail customers decreased mainly due to lower back-to-school sales . unfavorable foreign exchange reduced net sales $ 1.0 million , or 0.1 percent . for the year ended december 31 , 2020 , o perating income and operating margin decreased primarily due to lower sales related to covid-19 impacts , cost inflation , inefficiencies related to lower volume , unfavorable customer and product mix , and increased reserves for bad debts . restructuring charges were $ 7.6 million versus $ 5.6 million in the prior year . partially offsetting these items were cost reductions , and $ 1.7 million in canadian government assistance , primarily provided in return for

debt recent amendments on may 1 , 2020 , the company entered into a third amendment ( the `` third amendment '' ) to the credit agreement ( the `` credit agreement '' ) , dated as of january 27 , 2017 , among the company , certain subsidiaries of the company , bank of america , n.a. , as administrative agent , and the other lenders party thereto . pursuant to the third amendment , the credit agreement was amended to , among other things : increase the maximum consolidated leverage ratio ( as defined in the credit agreement , as amended ) from 3.75:1.00 to 4.75:1.00 , stepping back down to 3.75:1.00 for the first fiscal quarter ending after june 30 , 2021 ; amend the pricing based on the company 's consolidated leverage ratio , with a scaled increase in fees , effective may 1 , 2020 : reduce the company 's capacity to incur certain other indebtedness , and impose additional limitations on certain restricted payments ( other than dividends ) and permitted acquisitions ; and 38 require that the company pay down any amounts on the revolving facility when cash and cash equivalents of the loan parties exceed $ 100.0 million . in connection with the powera acquisition , effective november 10 , 2020 , the company entered into a fourth amendment ( the `` fourth amendment '' ) to the credit agreement , among the company , certain subsidiaries of the company , bank of america , n.a. , as administrative agent , and the other lenders party thereto . pursuant to the fourth amendment , the credit agreement was amended to , among other things : provide flexibility under the permitted acquisition provisions to accommodate the acquisition of powera ; further amend the maximum consolidated leverage ratio financial covenant by 0.50:1.00 from current levels for each of the six fiscal quarters beginning march 31 , 2021 and ending june 30 , 2022 , as follows : replace_table_token_12_th exempt the borrowings made under the credit agreement , as amended , to fund the powera acquisition from the credit agreement 's anti-cash hoarding clause .


 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.
     ```debt recent amendments on may 1 , 2020 , the company entered into a third amendment ( the `` third amendment '' ) to the credit agreement ( the `` credit agreement '' ) , dated as of january 27 , 2017 , among the company , certain subsidiaries of the company , bank of america , n.a. , as administrative agent , and the other lenders party thereto . pursuant to the third amendment , the credit agreement was amended to , among other things : increase the maximum consolidated leverage ratio ( as defined in the credit agreement , as amended ) from 3.75:1.00 to 4.75:1.00 , stepping back down to 3.75:1.00 for the first fiscal quarter ending after june 30 , 2021 ; amend the pricing based on the company 's consolidated leverage ratio , with a scaled increase in fees , effective may 1 , 2020 : reduce the company 's capacity to incur certain other indebtedness , and impose additional limitations on certain restricted payments ( other than dividends ) and permitted acquisitions ; and 38 require that the company pay down any amounts on the revolving facility when cash and cash equivalents of the loan parties exceed $ 100.0 million . in connection with the powera acquisition , effective november 10 , 2020 , the company entered into a fourth amendment ( the `` fourth amendment '' ) to the credit agreement , among the company , certain subsidiaries of the company , bank of america , n.a. , as administrative agent , and the other lenders party thereto . pursuant to the fourth amendment , the credit agreement was amended to , among other things : provide flexibility under the permitted acquisition provisions to accommodate the acquisition of powera ; further amend the maximum consolidated leverage ratio financial covenant by 0.50:1.00 from current levels for each of the six fiscal quarters beginning march 31 , 2021 and ending june 30 , 2022 , as follows : replace_table_token_12_th exempt the borrowings made under the credit agreement , as amended , to fund the powera acquisition from the credit agreement 's anti-cash hoarding clause .
```    
 Suspicious Activity Report : as a result , our foreign businesses contributed over half of our sales in 2020 , up from 43 percent in 2016. our most recent acquisition of powera in late 2020 is about accelerating growth and entering into an attractive consumer product adjacency of third-party video game controllers , power charging stations , and headsets . the addition of powera will meaningfully improve our organic sales growth and profitability and increase our presence in faster growing mass and e-commerce channels . powera is expected to provide strong double-digit sales growth in the u.s. , as well as opportunities for expansion internationally , particularly in europe . it greatly advances our strategic shift toward consumer , school and technology products as more than half of our sales will now come from these product categories , which offer faster growing 28 demand . on a pro forma basis , including full year powera sales for 2020 , computer and gaming products would represent approximately 22 percent of our sales . our leading product category positions provide the scale to invest in marketing and product innovation to drive profitable growth . we now expect to grow in mature markets in consumer , technology , and adjacent categories driven by new product development . we will also continue to grow in emerging markets once the impact of covid-19 subsides in latin america and parts of asia , the middle east , and eastern europe . in all of our markets , we see opportunities for sales growth through share gains , channel and geographic expansion , and product enhancements . we generate strong operating cash flow , and will continue to leverage our cost structure through acquisitions , synergies and productivity savings to drive long-term profit and operating cash flow improvement . overview of 2020 performance as used in this annual report on form 10-k , `` covid-19 impacts `` include the operational , financial , and other effects on acco brands , our customers and end users of our products , of school and business closures , work from home , remote and hybrid learning , government orders and manufacturing , distribution , supply chain and other disruptions resulting from covid-19 , and the actions acco brands , our customers and end users have taken in response to the pandemic , including actions we have taken to manage our inventory and credit risk under the circumstances . the covid-19 impacts on our business have varied and continue to vary significantly by geographic region and country depending upon a range of factors , including how seriously the pandemic is affecting public health in the country and whether and to what degree businesses and schools are open , the general seasonality of our business in that country , the nature and level of government support , and the channel structure . during 2020 , all segments were impacted by covid-19 , but emea experienced lower impacts and our international segment experienced , and continues to experience , the highest impacts , largely in latin america due to the seriousness of the pandemic and the dependence of our brazilian and mexican businesses on the sale of school products . many schools and offices in latin america have been closed since the onset of the pandemic and access to online learning is limited . in north america , following good sell-in of back-to-school products in the second quarter , our third quarter sales were adversely affected by weaker sell-out . our net sales declined $ 300.5 million , or 15.4 percent in 2020 primarily from covid-19 impacts . those impacts vary based upon the channel . replace_table_token_5_th operating income declined 42.7 percent , primarily due to the lower sales , partially offset by company-wide cost reductions and government assistance in certain countries , generally in return for maintaining employment , pay and benefits . foreign exchange had a minimal impact on sales . from a net profit perspective , foreign exchange was unfavorable by $ 0.8 million . operating cash inflow for 2020 was $ 119.2 million compared with last year 's operating cash inflow of $ 203.9 million . the $ 84.7 million year-over-year difference was due to lower net income . operating cash flow in 2020 was used to fund : ( in millions ) use of cash debt repayments $ 51.3 share repurchases 16.3 dividends 24.6 capital expenditures 15.3 increase in cash on hand 8.8 debt issuance cost 3.2 29 covid-19 impact covid-19 and the actions being taken by national , state and local governments , businesses , schools and others to address it ( including work from home , quarantines , travel restrictions , business and school closures , remote and hybrid learning , and cancellations of , and limitations on , public gatherings ) have caused and continue to cause significant disruptions to normal business operations and have had , and are expected to continue to have , significant adverse impacts on our customers and end-users worldwide . similarly , our business , sales , earnings , and results of operations have been and will continue to be materially adversely affected by these events , as well as the current and expected continued negative impact on the global economy . we expect that uncertainties regarding when the risks of the pandemic will subside and how geographies , distribution channels and consumer behaviors will evolve over time in response to the pandemic will continue . we expect the company to be in a stronger competitive position after the pandemic because of our strong brands , more diversified and healthier channels , investments in innovative products , solid financial position , and disciplined execution . we are assessing likely changes to consumer behavior post pandemic and will continue to adjust our business and product strategy to align with evolving consumer preferences . story_separator_special_tag selling , general and administrative expenses selling , general and administrative expenses ( `` sg & a `` ) include advertising , marketing , selling ( including commissions ) , research and development , customer service , depreciation related to assets outside the manufacturing and distribution processes , and all other general and administrative expenses outside the manufacturing and distribution functions ( e.g . , finance , human resources , information technology ) . for the year ended december 31 , 2020 , foreign exchange reduced sg & a $ 3.9 million , or 1.0 percent , and the acquisitions added $ 7.4 million , or 1.9 percent , including $ 4.4 million of integration and transaction costs . t he prior-year period included $ 2.3 million in integration costs related to prior acquisitions . excluding the acquisitions , integration and transaction costs , and foreign exchange , sg & a benefited from cost reductions and lower incentive accruals , partly offset by increases for bad debts . we received $ 5.2 million in governm ent assistance , primarily provided in return for maintaining employment and wages . for the year ended december 31 , 2020 , sg & a as a percentage of net sales increased , primarily due to lower net sales . restructuring charges for the year ended december 31 , 2020 , r estructuring charges were $ 10.9 million . costs associated with severance expense in north america were $ 6.2 million . the remainder of the severance charges were primarily in brazil , mexico , and australia . lease abandonment charges were $ 1.5 million related to facilities in north america . the prior-year charges were related to severance costs associated with changes in the operating structure of our north america and international segments . operating income for the year ended december 31 , 2020 , operating income decreased , primarily due to lower net sales from covid-19 impacts , which were partially offset by cost reductions . foreign exchange benefited operating income $ 1.5 million , or 0.8 percent . foroni contributed a loss of $ 2.7 million and powera added operating income of $ 0.4 million . interest expense and income for the year ended december 31 , 2020 , the decrease in interest expense was primarily due to lower average debt outstanding and lower interest rates on our variable rate debt . the decrease in interest income was primarily due to lower cash balances being held in brazil . other expense ( income ) , net other expense ( income ) , net was an expense of $ 1.6 million compared with income of $ 1.8 million in 2019. the increase in expense was primarily due to the higher foreign exchange loss in 2020 and a lower benefit from using our brazilian operating tax credits . income tax expense for the year ended december 31 , 2020 , we recorded income tax expense of $ 16.6 million on income before taxes of $ 78.6 million for an effective tax rate of 21.1 percent . the decrease in the effective rate versus 2019 was primarily due to an increase in reserves for uncertain tax positions in the prior year , the election to exclude high-taxed intangible income from the global intangible low-taxed income ( `` gilti `` ) computation , and beneficial adjustments to deferred taxes resulting from statutory tax rate changes . for the year ended december 31 , 2019 , the high effective tax rate was primarily due to $ 5.6 million in additional reserves for uncertain tax positions in connection with the brazil tax assessments that were recorded in the first quarter of 2019. see `` note 12. income taxes - brazil tax assessments `` to the condensed consolidated financial statements contained in part ii , item 8. of this report for additional details . 35 net income/diluted income per share for the year ended december 31 , 2020 , net income decreased primarily due to lower operating income . foreign exchange decreased net income $ 0.8 million , or 0.7 percent . diluted income per share benefited from fewer outstanding shares . segment net sales and operating income for the years ended december 31 , 2020 and 2019 acco brands north america replace_table_token_8_th ( 1 ) segment operating income excludes corporate costs . see `` note 18. information on business segments `` to the consolidated financial statements contained in part ii , item 8. of this report for a reconciliation of total `` segment operating income `` to `` income before income tax . `` ( 2 ) see reconciliation to gaap , contained in part ii , item 6 . `` supplemental non-gaap financial measures . `` for the year ended december 31 , 2020 , net sales and comparable sales decreased primarily from lower demand due to covid-19 impacts . the p owera acquisition added $ 5.8 million . kensington ® and trusens ® branded products had strong sales growth . back-to-school sales for the year were approximately 9.0 percent below 2019 primarily due to a reduction in the total back-to-school market as a result of the pandemic . in addition , sales of private label products and sales to certain retailers decreased . we experienced more severe covid-19 impacts in our commercial product lines while sales to mass/retail customers decreased mainly due to lower back-to-school sales . unfavorable foreign exchange reduced net sales $ 1.0 million , or 0.1 percent . for the year ended december 31 , 2020 , o perating income and operating margin decreased primarily due to lower sales related to covid-19 impacts , cost inflation , inefficiencies related to lower volume , unfavorable customer and product mix , and increased reserves for bad debts . restructuring charges were $ 7.6 million versus $ 5.6 million in the prior year . partially offsetting these items were cost reductions , and $ 1.7 million in canadian government assistance , primarily provided in return for

