ACCO BRANDS Corp
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 21, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| REGISTRANT: | |
| ACCO BRANDS CORPORATION | |
| By: | /s/ Thomas W. Tedford |
| Thomas W. Tedford | |
| President and Chief Executive Officer, Director(principal executive officer) |
| By: | /s/ Deborah A. O'Connor |
| Deborah A. O'Connor | |
| Executive Vice President and Chief FinancialOfficer (principal financial officer) |
| By: | /s/ James M. Dudek, Jr. |
| James M. Dudek, Jr. | |
| Senior Vice President, Corporate Controller and Chief Accounting Officer(principal accounting officer) |
February 21, 2025
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| Signature | Title | Date | |
|---|---|---|---|
| /s/ Thomas W. Tedford | President and Chief Executive Officer, Director(principal executive officer) | February 21, 2025 | |
| Thomas W. Tedford | |||
| /s/ Deborah A. O'Connor | Executive Vice President andChief Financial Officer(principal financial officer) | February 21, 2025 | |
| Deborah A. O'Connor | |||
| /s/ James M. Dudek, Jr. | Senior Vice President, Corporate Controller and Chief Accounting Officer(principal accounting officer) | February 21, 2025 | |
| James M. Dudek, Jr. | |||
| /s/ Joseph B. Burton* | Director | February 21, 2025 | |
| Joseph B. Burton | |||
| /s/ Kathleen S. Dvorak* | Director | February 21, 2025 | |
| Kathleen S. Dvorak | |||
| /s/ Pradeep Jotwani* | Director | February 21, 2025 | |
| Pradeep Jotwani | |||
| Signature | Title | Date |
|---|---|---|
| /s/ Robert J. Keller* | Director | February 21, 2025 |
| Robert J. Keller | ||
| /s/ Ron Lombardi* | Director | February 21, 2025 |
| Ron Lombardi | ||
| /s/ Graciela Monteagudo* | Director | February 21, 2025 |
| Graciela Monteagudo | ||
| /s/ E. Mark Rajkowski* | Director | February 21, 2025 |
| E. Mark Rajkowski | ||
| /s/ Elizabeth A. Simermeyer* | Director | February 21, 2025 |
| Elizabeth A. Simermeyer | ||
| /s/ Deborah A. O'Connor | ||
| * Deborah A. O'Connor asAttorney-in-Fact | ||
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
SCHEDULE II
Allowances for Doubtful Accounts
Changes in the allowances for doubtful accounts were as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Balance at beginning of year | $9.3 | $9.1 | $10.0 |
| Additions charged to expense | 0.7 | 1.3 | 0.5 |
| Deductions - write offs | (2.2) | (1.6) | (1.5) |
| Foreign exchange changes | (1.1) | 0.5 | 0.1 |
| Balance at end of year | $6.7 | $9.3 | $9.1 |
Allowances for Sales Discounts and Other Credits
Changes in the allowances for sales discounts and returns were as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Balance at beginning of year | $11.6 | $15.6 | $15.2 |
| Additions charged to expense | 5.2 | 8.1 | 15.7 |
| Deductions | (8.8) | (11.8) | (13.8) |
| Foreign exchange changes | (0.1) | (0.3) | (1.5) |
| Balance at end of year | $7.9 | $11.6 | $15.6 |
Allowances for Cash Discounts
Changes in the allowances for cash discounts were as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Balance at beginning of year | $2.0 | $1.9 | $2.4 |
| Additions charged to expense | 18.4 | 20.7 | 22.9 |
| Deductions - discounts taken | (18.7) | (20.7) | (23.3) |
| Foreign exchange changes | (0.1) | 0.1 | (0.1) |
| Balance at end of year | $1.6 | $2.0 | $1.9 |
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
SCHEDULE II (Continued)
Warranty Reserves
Changes in the reserve for warranty claims were as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Balance at beginning of year | $6.0 | $6.4 | $5.7 |
| Provision for warranties issued | 2.8 | 3.8 | 5.3 |
| Deductions - settlements made (in cash or in kind) | (3.6) | (4.5) | (4.3) |
| Foreign exchange changes | (0.3) | 0.3 | (0.3) |
| Balance at end of year | $4.9 | $6.0 | $6.4 |
Income Tax Valuation Allowance
Changes in the deferred tax valuation allowances were as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Balance at beginning of year | $59.2 | $51.9 | $52.4 |
| Net increase to valuation allowance - expense | 2.4 | 5.4 | 3.2 |
| Foreign exchange changes | (1.3) | 1.9 | (3.7) |
| Balance at end of year | $60.3 | $59.2 | $51.9 |
Valuation and qualifying accounts and reserves fluctuate with company operating performance.
See accompanying report of independent registered public accounting firm.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.