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Information on Business Segments (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Net Sales by Business Segment | Net sales by reportable business segment for the three months ended March 31, 2024 and 2023 were as follows:
(in millions) |  | 2024 |  |  | 2023 |
ACCO Brands Americas |  | $ | 197.2 |  |  | $ | 230.0 |
ACCO Brands International |  |  | 161.7 |  |  |  | 172.6 |
Net sales |  | $ | 358.9 |  |  | $ | 402.6 |
Schedule of Operating Income by Business Segment | Operating income by business segment for the three months ended March 31, 2024 and 2023 was as follows:
(in millions) |  | 2024 |  |  | 2023 |
ACCO Brands Americas |  | $ | 6.1 |  |  | $ | 12.3 |
ACCO Brands International |  |  | 12.8 |  |  |  | 9.7 |
Segment operating income |  |  | 18.9 |  |  |  | 22.0 |
Corporate |  |  | (13.0 | ) |  |  | (11.9 | )
Operating income(1) |  |  | 5.9 |  |  |  | 10.1 |
Interest expense |  |  | 13.3 |  |  |  | 13.9 |
Interest income |  |  | (1.9 | ) |  |  | (2.4 | )
Non-operating pension expense |  |  | 0.4 |  |  |  | 0.1 |
Other (income) expense, net |  |  | (0.6 | ) |  |  | 1.8 |
Loss before income tax |  | $ | (5.3 | ) |  | $ | (3.3 | )
(1) Operating income is defined as i) net sales; ii) less cost of products sold; iii) less selling, general and administrative 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 CODM as of March 31, 2024 and December 31, 2023:
(in millions) |  | 2024 |  |  | 2023 |
ACCO Brands Americas(2) |  | $ | 548.3 |  |  | $ | 648.7 |
ACCO Brands International(2) |  |  | 283.2 |  |  |  | 308.3 |
Total segment assets |  |  | 831.5 |  |  |  | 957.0 |
Unallocated assets |  |  | 1,708.2 |  |  |  | 1,684.2 |
Corporate(2) |  |  | 3.9 |  |  |  | 3.6 |
Total assets |  | $ | 2,543.6 |  |  | $ | 2,644.8 |
(2) 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 March 31, 2024 and December 31, 2023:
(in millions) |  | 2024 |  |  | 2023 |
ACCO Brands Americas(3) |  | $ | 1,516.0 |  |  | $ | 1,624.6 |
ACCO Brands International(3) |  |  | 690.7 |  |  |  | 738.5 |
Total segment assets |  |  | 2,206.7 |  |  |  | 2,363.1 |
Unallocated assets |  |  | 333.3 |  |  |  | 278.4 |
Corporate(3) |  |  | 3.6 |  |  |  | 3.3 |
Total assets |  | $ | 2,543.6 |  |  | $ | 2,644.8 |
(3) Represents total assets, excluding intercompany balances, cash, deferred taxes, derivatives, prepaid pension assets, prepaid debt issuance costs.

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