In connection with our May 1, 2012, acquisition of the Mead C&OP business, we assumed all of the tax liabilities for the acquired foreign operations including ACCO Brazil. In June 2025, we agreed with the Brazilian Treasury to settle the Brazil Tax Assessments pursuant to an amnesty program. For further information, see "Note 12. Income Taxes - Brazil Tax Assessments".

We are party to various lawsuits and regulatory proceedings, primarily related to alleged patent infringement, as well as other claims incidental to our business. In addition, we may be unaware of third-party claims of intellectual property infringement relating to our technology, brands, or products, and we may face other claims related to business operations. Any litigation regarding patents or other intellectual property could be costly and time-consuming and might require us to pay monetary damages or enter into costly license agreements. We also may be subject to injunctions against development and sale of certain of our products.

It is the opinion of management that the ultimate resolution of currently outstanding matters will not have a material adverse effect on our financial condition, results of operations, or cash flow. However, there is no assurance that we will ultimately be successful in our defense of any of these matters or that an adverse outcome in any matter will not affect our results of operations, financial condition, or cash flow. Further, future claims, lawsuits, and legal proceedings could materially and adversely affect our business, reputation, results of operations, and financial condition.

Future minimum payments under unconditional purchase commitments as of December 31, 2025 were as follows:


(in millions)
2026	$	107.0
2027		5.6
2028		4.3
2029 and thereafter		—
Total unconditional purchase commitments(1)	$	116.9

(1)

Unconditional purchase commitments primarily consist of non-cancelable purchase orders for raw materials and finished goods and contracts.