XML 61 R48.htm IDEA: XBRL DOCUMENT v3.24.0.1

Information on Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Net Sales by Business Segment

Net sales by reportable business segment for the years ended December 31, 2023, 2022, and 2021 were as follows:

(in millions)		2023				2022				2021
ACCO Brands North America		$	887.2			$	998.0			$	1,042.4
ACCO Brands EMEA			547.2				580.3				662.9
ACCO Brands International			398.4				369.3				320.0
Net sales		$	1,832.8			$	1,947.6			$	2,025.3

Schedule of Operating (Loss) Income by Business Segment

Operating (loss) income by reportable business segment for the years ended December 31, 2023, 2022, and 2021 was as follows:

(in millions)		2023				2022				2021
ACCO Brands North America		$	(5.9	)		$	(4.9	)		$	121.9
ACCO Brands EMEA			38.7				21.7				61.7
ACCO Brands International			60.7				50.5				31.6
Segment operating (loss) income			93.5				67.3				215.2
Change in fair value of contingent consideration			—				9.0				(19.0	)
Corporate(1)			(48.8	)			(41.5	)			(45.2	)
Operating income(2)			44.7				34.8				151.0
Interest expense			58.6				45.6				46.3
Interest income			(7.1	)			(8.3	)			(1.9	)
Non-operating pension expense (income)			1.8				(4.5	)			(7.9	)
Other expense (income), net			4.5				(12.9	)			3.1
(Loss) income before income tax		$	(13.1	)		$	14.9			$	111.4

(1)Corporate operating loss in 2021 includes transaction costs of $0.2 million primarily for legal and due diligence expenditures associated with 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; v) less restructuring charges; and vi) less change in the fair value of contingent consideration.

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, 2023 and 2022:

(in millions)		2023				2022
ACCO Brands North America(3)		$	401.4			$	459.2
ACCO Brands EMEA(3)			217.1				236.0
ACCO Brands International(3)			338.5				308.4
Total segment assets			957.0				1,003.6
Unallocated assets			1,684.2				1,787.2
Corporate(3)			3.6				3.9
Total assets		$	2,644.8			$	2,794.7

(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 right of use asset, leases, the allocation of identifiable intangible assets and goodwill resulting from business combinations as of December 31, 2023 and 2022:

(in millions)		2023				2022
ACCO Brands North America(4)		$	1,190.7			$	1,359.9
ACCO Brands EMEA(4)			568.7				588.4
ACCO Brands International(4)			603.4				573.8
Total segment assets			2,362.8				2,522.1
Unallocated assets			278.4				268.7
Corporate(4)			3.6				3.9
Total assets		$	2,644.8			$	2,794.7

(4)Represents total assets, excluding intercompany balances, cash, deferred taxes, derivatives, prepaid pension assets, prepaid debt issuance costs.

Schedule of Capital Spend and Depreciation Expense by Segment

Capital spend by reportable business segment for the years ended December 31, 2023, 2022, and 2021 was as follows:

(in millions)		2023				2022				2021
ACCO Brands North America		$	4.0			$	8.8			$	11.2
ACCO Brands EMEA			6.8				4.7				7.3
ACCO Brands International			4.5				4.2				2.7
Total capital spend		$	15.3			$	17.7			$	21.2

Depreciation expense by reportable business segment for the years ended December 31, 2023, 2022, and 2021 was as follows:

(in millions)		2023				2022				2021
ACCO Brands North America		$	16.8			$	20.1			$	20.7
ACCO Brands EMEA			10.9				12.6				13.1
ACCO Brands International			5.0				5.2				5.6
Total depreciation		$	32.7			$	37.9			$	39.4

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

Property, plant and equipment, net by reportable business segment as of December 31, 2023, 2022 was as follows:

(in millions)		2023				2022
U.S.		$	68.2			$	82.3
Canada			1.5				1.7
ACCO Brands North America			69.7				84.0
ACCO Brands EMEA			60.9				62.9
Australia/N.Z.			9.5				10.0
Latin America			29.1				26.6
Asia-Pacific			0.9				1.6
ACCO Brands International			39.5				38.2
Property, plant and equipment, net		$	170.1			$	185.1

X

- Definition

Schedule of Assets by Segment Including Allocation of Intangible Assets and Goodwill [Table Text Block]

+ References

No definition available.

+ Details

Name:	acco_ScheduleOfAssetsBySegmentIncludingAllocationOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix:	acco_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration