XML 42 R32.htm IDEA: XBRL DOCUMENT v3.22.2.2
Goodwill and Identifiable Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Net Carrying Amount of Goodwill by Segment

Changes in the net carrying amount of goodwill by segment were as follows:

 

(in millions)

 

ACCO Brands North America

 

 

ACCO Brands EMEA

 

 

ACCO Brands International

 

 

Total

 

Balance at December 31, 2021

$

 

446.7

 

$

 

178.6

 

$

 

177.2

 

$

 

802.5

 

Goodwill impairment

 

 

(98.7

)

 

 

—

 

 

 

—

 

 

 

(98.7

)

Foreign currency translation

 

 

—

 

 

 

(37.2

)

 

 

0.3

 

 

 

(36.9

)

Balance at September 30, 2022

$

 

348.0

 

$

 

141.4

 

$

 

177.5

 

$

 

666.9

 
Gross Carrying Value and Accumulated Amortization by Class of Identifiable Intangible Assets

The gross carrying value and accumulated amortization by class of identifiable intangible assets as of September 30, 2022 and December 31, 2021, were as follows:

 

 

 

September 30, 2022

 

 

December 31, 2021

 

(in millions)

 

Gross Carrying Amounts

 

 

Accumulated Amortization

 

 

Net Book Value

 

 

Gross Carrying Amounts

 

 

Accumulated Amortization

 

 

Net Book Value

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names(1)

$

 

401.5

 

$

 

(44.5

)

$

 

357.0

 

$

 

417.6

 

$

 

(44.5

)

$

 

373.1

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

363.0

 

 

 

(118.0

)

 

 

245.0

 

 

 

373.2

 

 

 

(110.5

)

 

 

262.7

 

Customer and contractual relationships

 

 

346.4

 

 

 

(186.8

)

 

 

159.6

 

 

 

366.5

 

 

 

(182.4

)

 

 

184.1

 

Vendor relationships

 

 

82.4

 

 

 

(9.9

)

 

 

72.5

 

 

 

82.4

 

 

 

(5.7

)

 

 

76.7

 

Patents

 

 

7.7

 

 

 

(3.3

)

 

 

4.4

 

 

 

8.6

 

 

 

(3.0

)

 

 

5.6

 

Subtotal

 

 

799.5

 

 

 

(318.0

)

 

 

481.5

 

 

 

830.7

 

 

 

(301.6

)

 

 

529.1

 

Total identifiable intangibles

$

 

1,201.0

 

$

 

(362.5

)

$

 

838.5

 

$

 

1,248.3

 

$

 

(346.1

)

$

 

902.2

 

 

(1)
Accumulated amortization prior to the adoption of authoritative guidance on goodwill and other intangible assets, at which time further amortization ceased.
Estimated Amortization Expense for Future Periods

Estimated amortization expense for amortizable intangible assets, as of September 30, 2022, for the current year and the next five years is as follows:

 

(in millions)

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

2027

 

Estimated amortization expense(2)

$

 

42.4

 

$

 

40.1

 

$

 

38.5

 

$

 

36.9

 

$

 

34.7

 

$

 

32.2

 

 

(2)
Actual amounts of amortization expense may differ from estimated amounts due to changes in foreign currency exchange rates, additional intangible asset acquisitions, impairment of intangible assets, accelerated amortization of intangible assets and other events.