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Information on Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Net Sales by Business Segment

Net sales by reportable business segment for the years ended December 31, 2019, 2018 and 2017 were as follows:

(in millions)	2019				2018				2017
ACCO Brands North America	$	966.8			$	940.7			$	999.0
ACCO Brands EMEA	569.3				605.2				542.8
ACCO Brands International	419.6				395.3				407.0
Net sales	$	1,955.7			$	1,941.2			$	1,948.8

Schedule of Operating Income by Business Segment

Operating income by reportable business segment for the years ended December 31, 2019, 2018 and 2017 was as follows:

(in millions)	2019				2018				2017
ACCO Brands North America	$	131.0			$	116.6			$	152.4
ACCO Brands EMEA	58.6				59.4				32.0
ACCO Brands International	48.5				49.2				50.9
Segment operating income	238.1				225.2				235.3
Corporate(1)	(41.9		)		(38.2		)		(50.8		)
Operating income(1)	196.2				187.0				184.5
Interest expense	43.2				41.2				41.1
Interest income	(3.2		)		(4.4		)		(5.8		)
Non-operating pension income	(5.5		)		(9.3		)		(8.5		)
Other (income) expense, net	(1.8		)		1.6				(0.4		)
Income before income tax	$	163.5			$	157.9			$	158.1

(1) Corporate operating loss in 2019, 2018 and 2017 includes transaction costs of $1.6 million, $0.5 million and $5.0 million respectively, primarily for legal and due diligence expenditures associated with the Foroni, GOBA, and Esselte acquisitions.

(2)

Operating income as presented in the segment table above is defined as i) net sales; ii) less cost of products sold; iii) less SG&A expenses; iv) less amortization of intangibles; and v) less restructuring charges.

Reconciliation of Assets from Segment to Consolidated

The following table presents the measure of reportable business segment assets used by the Company’s chief operating decision maker as of December 31, 2019 and 2018:

(in millions)	2019				2018
ACCO Brands North America(3)	$	403.4			$	456.1
ACCO Brands EMEA(3)	257.9				276.7
ACCO Brands International(3)	384.1				341.3
Total segment assets	1,045.4				1,074.1
Unallocated assets	1,742.3				1,711.0
Corporate(3)	0.9				1.3
Total assets	$	2,788.6			$	2,786.4

(3)

Represents total assets, excluding goodwill and identifiable intangibles resulting from business acquisitions, intercompany balances, cash, deferred taxes, derivatives, prepaid pension assets, prepaid debt issuance costs and right of use asset, leases.

Schedule of Assets by Segment Including Allocation of Intangible Assets and Goodwill

As a supplement to the presentation of reportable business segment assets presented above, the table below presents reportable business segment assets, including the allocation of identifiable intangible assets and goodwill resulting from business combinations as of December 31, 2019 and 2018:

(in millions)	2019				2018
ACCO Brands North America(4)	$	1,165.1			$	1,231.0
ACCO Brands EMEA(4)	670.9				709.2
ACCO Brands International(4)	686.7				629.8
Total segment assets	2,522.7				2,570.0
Unallocated assets	265.0				215.1
Corporate(4)	0.9				1.3
Total assets	$	2,788.6			$	2,786.4

(4)

Represents total assets, excluding intercompany balances, cash, deferred taxes, derivatives, prepaid pension assets, prepaid debt issuance costs and right of use asset, leases.

Schedule of Capital Spend and Depreciation Expense by Segment

Capital spend by reportable business segment for the years ended December 31, 2019, 2018 and 2017 was as follows:

(in millions)	2019				2018				2017
ACCO Brands North America	$	21.7			$	24.3			$	16.3
ACCO Brands EMEA	7.0				6.1				5.1
ACCO Brands International	4.1				3.7				9.6
Total capital spend	$	32.8			$	34.1			$	31.0

Depreciation expense by reportable business segment for the years ended December 31, 2019, 2018 and 2017 was as follows:

(in millions)	2019				2018				2017
ACCO Brands North America	$	17.3			$	15.9			$	17.7
ACCO Brands EMEA	12.2				12.6				11.9
ACCO Brands International	5.4				5.5				6.0
Total depreciation	$	34.9			$	34.0			$	35.6

Schedule of Property, Plant and Equipment, Net by Geographic Region

Property, plant and equipment, net by geographic region as of December 31, 2019 and 2018 was as follows:

(in millions)	2019				2018
U.S.	$	116.6			$	111.7
Canada	1.7				1.9
ACCO Brands North America	118.3				113.6
ACCO Brands EMEA	92.8				100.0
Australia/N.Z.	12.1				13.1
Latin America	42.2				35.1
Asia-Pacific	1.7				1.9
ACCO Brands International	56.0				50.1
Property, plant and equipment, net	$	267.1			$	263.7

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