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Goodwill and Identifiable Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2024
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 Americas

 

 

ACCO Brands International

 

 

Total

 

Balance at December 31, 2023

 

$

383.6

 

 

$

206.4

 

 

$

590.0

 

Foreign currency translation

 

 

(0.2

)

 

 

(12.7

)

 

 

(12.9

)

Balance at March 31, 2024

 

$

383.4

 

 

$

193.7

 

 

$

577.1

 
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 March 31, 2024 and December 31, 2023, were as follows:

 

 

 

March 31, 2024

 

 

December 31, 2023

 

(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)

 

$

295.1

 

 

$

(44.5

)

 

$

250.6

 

 

$

295.1

 

 

$

(44.5

)

 

$

250.6

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

489.8

 

 

 

(145.1

)

 

 

344.7

 

 

 

497.1

 

 

 

(142.0

)

 

 

355.1

 

Customer and contractual relationships

 

 

358.0

 

 

 

(222.6

)

 

 

135.4

 

 

 

362.4

 

 

 

(221.3

)

 

 

141.1

 

Vendor relationships

 

 

82.4

 

 

 

(18.1

)

 

 

64.3

 

 

 

82.4

 

 

 

(16.7

)

 

 

65.7

 

Patents

 

 

8.0

 

 

 

(5.1

)

 

 

2.9

 

 

 

8.2

 

 

 

(5.0

)

 

 

3.2

 

Subtotal

 

 

938.2

 

 

 

(390.9

)

 

 

547.3

 

 

 

950.1

 

 

 

(385.0

)

 

 

565.1

 

Total identifiable intangibles

 

$

1,233.3

 

 

$

(435.4

)

 

$

797.9

 

 

$

1,245.2

 

 

$

(429.5

)

 

$

815.7

 

 

(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 March 31, 2024, for the current year and the next five years is as follows:

 

(in millions)

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

2029

 

Estimated amortization expense(2)

 

$

42.1

 

 

$

40.5

 

 

$

38.4

 

 

$

36.0

 

 

$

33.8

 

 

$

32.0

 

 

(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.