XML 54 R42.htm IDEA: XBRL DOCUMENT v3.25.0.1
Goodwill and Identifiable Intangible Assets (Tables)
 12 Months Ended
Dec. 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, 2022

 

$

472.2

 

 

$

199.3

 

 

$

671.5

 

Goodwill impairment

 

 

(89.5

)

 

 

—

 

 

 

(89.5

)

Foreign currency translation

 

 

0.9

 

 

 

7.1

 

 

 

8.0

 

Balance at December 31, 2023

 

$

383.6

 

 

$

206.4

 

 

$

590.0

 

Goodwill impairment

 

 

(127.5

)

 

 

—

 

 

 

(127.5

)

Foreign currency translation

 

 

(2.8

)

 

 

(13.3

)

 

 

(16.1

)

Balance at December 31, 2024

 

$

253.3

 

 

$

193.1

 

 

$

446.4

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

The Company's gross carrying value and accumulated amortization by class of identifiable intangible assets as of December 31, 2024 and 2023 were as follows:

 

 

 

December 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) (2)

 

$

101.2

 

 

$

(44.5

)

 

$

56.7

 

 

$

295.1

 

 

$

(44.5

)

 

$

250.6

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names(2)

 

 

627.5

 

 

 

(157.5

)

 

 

470.0

 

 

 

497.1

 

 

 

(142.0

)

 

 

355.1

 

Customer and contractual relationships

 

 

350.7

 

 

 

(230.0

)

 

 

120.7

 

 

 

362.4

 

 

 

(221.3

)

 

 

141.1

 

Vendor relationships

 

 

82.4

 

 

 

(22.2

)

 

 

60.2

 

 

 

82.4

 

 

 

(16.7

)

 

 

65.7

 

Patents

 

 

7.8

 

 

 

(5.8

)

 

 

2.0

 

 

 

8.2

 

 

 

(5.0

)

 

 

3.2

 

Subtotal

 

 

1,068.4

 

 

 

(415.5

)

 

 

652.9

 

 

 

950.1

 

 

 

(385.0

)

 

 

565.1

 

Total identifiable intangibles

 

$

1,169.6

 

 

$

(460.0

)

 

$

709.6

 

 

$

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.
(2)
Reflects the change of our Five Star® and Swingline® indefinite-lived trade names to amortizable intangible assets as of June 1, 2024.
Estimated Amortization Expense for Future Periods

Estimated amortization expense for amortizable intangible assets for the next five years is as follows:

(in millions)

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

2029

 

Estimated amortization expense(3)

 

$

44.8

 

 

$

42.8

 

 

$

40.4

 

 

$

38.3

 

 

$

36.6

 

 

(3)
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.