note 2  recently issued and adopted accounting pronouncements and regulatory items Part II  note 3 acquisitions Disclosures about Credit Losses new accounting guidance and regulatory items Multiple-Deliverable revenue arrangements Milestone Method of revenue recognition accounting guidance and regulatory items  adopted in 2010 patient protection and affordable Care act Variable interest entities accounting for transfers of Financial assets note 3 acquisitions 2010 acquisitions 43 FMC Corporation    2010 Form 10K Pro forma revenue, net income and earnings per share information  related to this acquisition is not presented because its impact on these  measures in our consolidated statements of income is not significant. In June 2010, we acquired global registration rights to an herbicide, with  unique weed control features, in our Agricultural Products segment.  As part of this acquisition we also acquired certain rights relating to a  separate herbicide compound still under development. The combined  purchase price for both of the rights was approximately $7.5 million.  See Note 4 and Note 7 for more information. In June 2009, the FASB amended its guidance on accounting for transfers  of financial assets. This amended literature requires entities to provide  more information about sales of securitized financial assets and similar  transactions, particularly if the seller retains some risk to the assets. This  guidance eliminates the concept of a qualifying special-purpose entity,  changes the requirements for the de-recognition of financial assets, and  requires sellers of the assets to make additional disclosures. We adopted  this guidance on January 1, 2010. There was no impact to our financial  statements upon adoption. We believe the effect of these acts on our U.S. postretirement health  care benefit plans obligation and cost are immaterial. However, we will  continue to monitor and assess the effect of the Acts as the regulatory  requirements are finalized. In June 2009, the FASB amended its guidance regarding the consolidation  of variable interest entities, by altering how a company determines when  an entity, that is insufficiently capitalized or not controlled through voting,  should be consolidated. A company has to determine whether it should  consolidate an entity based upon the entity’s purpose and design and  the parent company’s ability to direct the entity’s actions. We adopted  this guidance on January 1, 2010. There was no impact to our financial  statements upon adoption. In March 2010, the FASB reached a consensus on the accounting  treatment of revenue recognition based on the milestone method. This  new guidance defines a milestone payment and clarifies whether a  vendor may recognize revenue from the achievement of a milestone in  its entirety in the period in which the milestone is achieved. We adopted  this guidance on July 1, 2010. There was no impact to our financial  statements upon adoption. In July 2010, the FASB amended its guidance regarding the disclosure  of an entity’s allowance for credit losses and the credit quality of its  financing receivables. The amendments enhance disclosures about the  credit quality of financing receivables and the allowance for credit losses  by providing a greater level of disaggregated information. We adopted  this guidance for our annual reporting period ended December 31, 2010.  Except for additional disclosure in Note 1, there was no impact to our  financial statements upon adoption. In October 2009, the Financial Accounting Standards Board (“FASB”)  amended its guidance regarding the criteria for when to evaluate individual  delivered items in a multiple deliverable arrangement and how to allocate  consideration received. We are required to adopt this guidance starting  on January 1, 2011. We are in the process of evaluating this guidance;  however do not believe it will have a material effect on our consolidated  financial statements upon adoption. On March 23, 2010, the Patient Protection and Affordable Care Act  was signed into law. The new legislation makes extensive changes to the  current system of health care insurance and benefits. The Reconciliation  Act of 2010 makes certain changes to the law. The reconciliation bill  was passed on March 25, 2010. A provision of the new law relates to the elimination of the deduction  for the Medicare Part D subsidy. We provide qualifying prescription  drug coverage to Medicare-eligible retirees and as a result we receive a  nontaxable subsidy from the U.S. government. As a result of the new  health care legislation, income tax deductions for the cost of providing  prescription drug coverage will be reduced by the amount of any subsidy  received. Under U.S. accounting literature, the effect of changes in tax  laws or rates on deferred tax assets and liabilities is reflected in the period  that includes the enactment date, even though the changes may not be  effective until future periods. Please see Note 11 for the impact of this  tax law change on our deferred tax assets.