ACCO BRANDS Corp Segments Disclosure
18. Information on Operating Segments
The Company has two operating segments based in different geographic regions: Americas and International. Each operating segment designs, markets, sources, manufactures and sells recognized consumer, technology, and business branded products used in schools, homes, and at work. Product designs are tailored to end-user preferences in each geographic region, and where possible, leverage common engineering, design, and sourcing.
Our Chief Operating Decision Maker ("CODM"), which is our , analyzes and evaluates the Company's financial results at the operating segment level to assess performance and allocate resources. This includes net revenue, gross margins, operating income, restructuring expense, components of working capital investments, and other ratio performance metrics. The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
The Company's two operating segments are as follows:
Operating Segment |
|
Geography |
|
Primary Brands |
|
Primary Products |
ACCO Brands Americas |
|
United States, Canada and Latin America |
|
AT-A-GLANCE®, Barrilito®, Five Star®, Foroni®, GBC®, Hilroy®, Kensington®, Mead®, PowerA®, Quartet®, Swingline® and Tilibra® |
|
Note taking products, gaming and computer accessories; planners; workspace machines, tools and essentials and dry erase boards and accessories. |
|
|
|
|
|
|
|
ACCO Brands International |
|
EMEA, Australia/N.Z., and Asia |
|
Artline®*, Buro®, Derwent®, Esselte®, Franken®, GBC®, Kensington®, Leitz®, Marbig®, NOBO®, PowerA®, Rapid®, Rexel® and Spirax® *Australia/N.Z. only |
|
Filing and organization products; workspace machines, tools and essentials; gaming and computer accessories; dry erase boards and accessories; ergonomic products; seating; 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, discount, drug/grocery and variety chains, warehouse clubs, hardware and specialty stores, independent office product dealers, office superstores, wholesalers, contract stationers, and specialist technology businesses. We also sell directly through e-commerce sites and our direct sales organization.
The operating results regularly provided to the CODM for our operating segments for the years ended December 31, 2025, 2024 and 2023 were as follows:
|
For The Year Ended December 31, 2025 |
|
|
For The Year Ended December 31, 2024 |
|
||||||||||||||
|
ACCO Brands |
|
ACCO Brands International |
|
Total |
|
|
ACCO Brands |
|
ACCO Brands International |
|
Total |
|
||||||
Net Sales |
$ |
894.4 |
|
$ |
630.3 |
|
$ |
1,524.7 |
|
|
$ |
999.9 |
|
$ |
666.3 |
|
$ |
1,666.2 |
|
Cost of products sold |
|
598.3 |
|
|
426.4 |
|
|
1,024.7 |
|
|
|
666.0 |
|
|
444.8 |
|
|
1,110.8 |
|
Gross profit |
|
296.1 |
|
|
203.9 |
|
|
500.0 |
|
|
|
333.9 |
|
|
221.5 |
|
|
555.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Sales and marketing expenses(1) |
|
108.8 |
|
|
92.0 |
|
|
200.8 |
|
|
|
115.2 |
|
|
91.5 |
|
|
206.7 |
|
Administrative expenses(2) |
|
58.1 |
|
|
48.0 |
|
|
106.1 |
|
|
|
64.9 |
|
|
51.9 |
|
|
116.8 |
|
Restructuring |
|
7.7 |
|
|
14.1 |
|
|
21.8 |
|
|
|
6.5 |
|
|
6.9 |
|
|
13.4 |
|
Gain on the disposal of assets |
|
(5.7 |
) |
|
(1.1 |
) |
|
(6.8 |
) |
|
|
— |
|
|
— |
|
|
— |
|
Impairment of goodwill and intangible assets |
|
— |
|
|
— |
|
|
— |
|
|
|
165.2 |
|
|
— |
|
|
165.2 |
|
All other(3) |
|
29.5 |
|
|
16.7 |
|
|
46.2 |
|
|
|
27.6 |
|
|
17.1 |
|
|
44.7 |
|
Segment operating income (loss) |
|
97.7 |
|
|
34.2 |
|
|
131.9 |
|
|
|
(45.5 |
) |
|
54.1 |
|
|
8.6 |
|
Corporate expense |
|
|
|
|
|
39.6 |
|
|
|
|
|
|
|
45.6 |
|
||||
Total consolidated operating income (loss) |
|
|
|
|
|
92.3 |
|
|
|
|
|
|
|
(37.0 |
) |
||||
Interest expense, net |
|
|
|
|
|
36.4 |
|
|
|
|
|
|
|
45.1 |
|
||||
Non-operating pension expense |
|
|
|
|
|
2.5 |
|
|
|
|
|
|
|
6.1 |
|
||||
Other expense (income) |
|
|
|
|
|
4.3 |
|
|
|
|
|
|
|
(0.9 |
) |
||||
Income (loss) before income tax |
|
|
|
|
$ |
49.1 |
|
|
|
|
|
|
$ |
(87.3 |
) |
||||
|
For The Year Ended December 31, 2023 |
|
|||||||
|
ACCO Brands |
|
ACCO Brands International |
|
Total |
|
|||
Net Sales |
$ |
1,135.7 |
|
$ |
697.1 |
|
$ |
1,832.8 |
|
Cost of products sold |
|
761.7 |
|
|
472.8 |
|
|
1,234.5 |
|
Gross profit |
|
374.0 |
|
|
224.3 |
|
|
598.3 |
|
|
|
|
|
|
|
|
|||
Sales and marketing expenses(1) |
|
123.7 |
|
|
94.2 |
|
|
217.9 |
|
Administrative expenses(2) |
|
75.2 |
|
|
52.3 |
|
|
127.5 |
|
Restructuring |
|
16.7 |
|
|
9.9 |
|
|
26.6 |
|
Impairment of goodwill and intangible assets |
|
89.5 |
|
|
— |
|
|
89.5 |
|
All other(3) |
|
25.0 |
|
|
18.3 |
|
|
43.3 |
|
Segment operating income |
|
43.9 |
|
|
49.6 |
|
|
93.5 |
|
Corporate expense |
|
|
|
|
|
48.8 |
|
||
Total consolidated operating income |
|
|
|
|
|
44.7 |
|
||
Interest expense, net |
|
|
|
|
|
51.5 |
|
||
Non-operating pension expense |
|
|
|
|
|
1.8 |
|
||
Other expense, net |
|
|
|
|
|
4.5 |
|
||
Loss before income tax |
|
|
|
|
$ |
(13.1 |
) |
||
The following table presents the measure of operating segment assets used by the Company’s CODM as of December 31, 2025, and 2024:
(in millions) |
|
2025 |
|
|
2024 |
|
||
ACCO Brands Americas |
|
$ |
445.9 |
|
|
$ |
418.0 |
|
ACCO Brands International |
|
|
202.9 |
|
|
|
201.3 |
|
Total segment assets(4) |
|
|
648.8 |
|
|
|
619.3 |
|
Goodwill |
|
|
478.5 |
|
|
|
446.4 |
|
Identifiable intangibles, net |
|
|
696.9 |
|
|
|
709.6 |
|
Property, plant and equipment, net |
|
|
138.8 |
|
|
|
137.5 |
|
Unallocated assets(5) |
|
|
290.0 |
|
|
|
315.6 |
|
Total assets |
|
$ |
2,253.0 |
|
|
$ |
2,228.4 |
|
Property, plant and equipment, net by operating segment as of December 31, 2025, and 2024 was as follows:
(in millions) |
|
2025 |
|
|
2024 |
|
||
U.S. |
|
$ |
48.5 |
|
|
$ |
51.1 |
|
Canada |
|
|
0.8 |
|
|
|
0.9 |
|
Latin America |
|
|
24.2 |
|
|
|
22.7 |
|
ACCO Brands Americas |
|
|
73.5 |
|
|
|
74.7 |
|
|
|
|
|
|
|
|
||
ACCO Brands EMEA |
|
|
55.8 |
|
|
|
53.5 |
|
Australia/N.Z. |
|
|
8.9 |
|
|
|
8.7 |
|
Asia-Pacific |
|
|
0.6 |
|
|
|
0.6 |
|
ACCO Brands International |
|
|
65.3 |
|
|
|
62.8 |
|
Property, plant and equipment, net |
|
$ |
138.8 |
|
|
$ |
137.5 |
|
Capital spend by operating segment for the years ended December 31, 2025, 2024 and 2023 was as follows:
(in millions) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
ACCO Brands Americas |
|
$ |
13.4 |
|
|
$ |
10.2 |
|
|
$ |
7.7 |
|
ACCO Brands International |
|
|
6.1 |
|
|
|
6.8 |
|
|
|
7.6 |
|
Total capital spend |
|
$ |
19.5 |
|
|
$ |
17.0 |
|
|
$ |
15.3 |
|
Depreciation expense by operating segment for the years ended December 31, 2025, 2024 and 2023 was as follows:
(in millions) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
ACCO Brands Americas |
|
$ |
17.4 |
|
|
$ |
19.2 |
|
|
$ |
20.4 |
|
ACCO Brands International |
|
|
9.2 |
|
|
|
9.2 |
|
|
|
12.3 |
|
Total depreciation |
|
$ |
26.6 |
|
|
$ |
28.4 |
|
|
$ |
32.7 |
|
Top Customers
Net sales to our five largest customers totaled $484.7 million, $532.9 million and $609.0 million for the years ended December 31, 2025, 2024 and 2023, respectively. For the year ended December 31, 2025, net sales to Amazon, our largest customer, were $158.1 million (10 percent). Except as disclosed, no other customer represented more than 10 percent of net sales in any of the last three years.
As of December 31, 2025 and 2024, our top five trade accounts receivable totaled $117.0 million and $116.3 million, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 9, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 27, 2017 | |
| 2015 | Feb 24, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.