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Information on Business Segments | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Information on Business Segments | 16. Information on Business Segments Effective January 1, 2024, the Company reorganized its previously reported North America, EMEA and International operating segments into two operating segments, Americas and International. The Americas includes the U.S., Canada, Brazil, Mexico and Chile, and International includes EMEA, Australia, New Zealand and Asia. The new organizational structure aligns with how the Chief Operating Decision Maker ("CODM") analyzes and evaluates the Company's performance. This change will simplify and delayer the Company's operating structure and reduce costs through headcount reductions, supply change optimization, global footprint rationalization, and better leverage of our sourcing capabilities. Prior period results have been reclassified to reflect this change in our operating segments. The Company's two segments are as follows:
Operating Segment |  | Geography |  | Primary Brands |  | Primary Products
ACCO Brands Americas |  | United States, Canada and Latin America |  | Five Star®, PowerA®, Tilibra®, AT-A-GLANCE®, Kensington®, Quartet®, GBC®, Mead®, Swingline®, Barrilito®, Foroni® and Hilroy® |  | Note taking products, computer and gaming accessories; planners; workspace machines, tools and essentials and dry erase boards and accessories.
ACCO Brands International |  | EMEA, Australia/N.Z., and Asia |  | Leitz®, Rapid®, Kensington®, Esselte®, Rexel®, PowerA®, GBC®, NOBO®, Franken®, Derwent®, Marbig®, Artline®* and Spirax® *Australia/N.Z. only |  | Filing and organization products; workspace machines, tools and essentials; computer and gaming accessories; dry erase boards and accessories; and writing and art products.
Customers We distribute our products through a wide variety of channels to ensure that our products are readily and conveniently available for purchase by consumers and other end-users, wherever they prefer to shop. These channels include mass retailers, e-tailers, technology distributors, discount, drug/grocery and variety chains, warehouse clubs, hardware and specialty stores, independent office product dealers, office superstores, wholesalers, and contract stationers. We also sell directly through e-commerce sites and our direct sales organization. Net sales by reportable business segment for the three and six months ended June 30, 2024 and 2023 were as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
ACCO Brands Americas |  | $ | 292.3 |  |  | $ | 336.4 |  |  | $ | 489.5 |  |  | $ | 566.4 |
ACCO Brands International |  |  | 146.0 |  |  |  | 157.2 |  |  |  | 307.7 |  |  |  | 329.8 |
Net sales |  | $ | 438.3 |  |  | $ | 493.6 |  |  | $ | 797.2 |  |  | $ | 896.2 |
Operating (loss) income by business segment for the three and six months ended June 30, 2024 and 2023 was as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
ACCO Brands Americas |  | $ | (108.7 | ) |  | $ | 60.4 |  |  | $ | (102.6 | ) |  | $ | 72.7 |
ACCO Brands International |  |  | 7.8 |  |  |  | 7.1 |  |  |  | 20.6 |  |  |  | 16.8 |
Segment operating (loss) income |  |  | (100.9 | ) |  |  | 67.5 |  |  |  | (82.0 | ) |  |  | 89.5 |
Corporate |  |  | (10.3 | ) |  |  | (12.3 | ) |  |  | (23.3 | ) |  |  | (24.2 | )
Operating (loss) income⁽¹⁾ |  |  | (111.2 | ) |  |  | 55.2 |  |  |  | (105.3 | ) |  |  | 65.3 |
Interest expense |  |  | 13.8 |  |  |  | 15.5 |  |  |  | 27.1 |  |  |  | 29.4 |
Interest income |  |  | (2.2 | ) |  |  | (2.2 | ) |  |  | (4.1 | ) |  |  | (4.6 | )
Non-operating pension expense |  |  | 4.8 |  |  |  | 0.2 |  |  |  | 5.2 |  |  |  | 0.3 |
Other (income) expense, net |  |  | (0.2 | ) |  |  | (0.3 | ) |  |  | (0.8 | ) |  |  | 1.5 |
(Loss) income before income tax |  | $ | (127.4 | ) |  | $ | 42.0 |  |  | $ | (132.7 | ) |  | $ | 38.7 |
(1) Operating (loss) 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; and vi) less change in the fair value of contingent consideration.

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- Definition The entire disclosure for reporting segments including data and tables. 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