Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 174

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 174
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 determining the present value of leases, the Company uses its incremental collateralized borrowing rate, on a regional basis, due to the implicit rate of return is generally not readily determinable for our leases. The incremental borrowing rate is dependent upon the duration of the lease and has been segmented into three groups of time. All leases within the same region and the same group of time share the same incremental borrowing rate. The Company has lease agreements with lease and non-lease components, which are combined for accounting purposes for all classes of underlying assets except information technology equipment. The components of lease expense for the years ended December 31, 2024, 2023 and 2022, were as follows:  

        (in millions)
         
        2024

        2023

        2022

        Operating lease cost
         
        $
        29.0

        $
        28.6

        $
        29.5

        Sublease income

        (3.1
        )

        (2.5
        )

        (2.4
        )

         Total lease cost
         
        $
        25.9

        $
        26.1

        $
        27.1

       Other information related to leases for the years ended December 31, 2024 and 2023 was as follows: 

        Twelve Months EndedDecember 31,

        (in millions, except lease term and discount rate)
         
        2024

        2023

        Cash paid for amounts included in the measurement of lease liabilities:

        Operating cash flows from operating leases
         
        $
        27.9

        $
        29.8

        Right-of-use assets obtained in exchange for lease obligations:

        Operating leases
         
        $
        19.5

        $
        23.2

        Weighted average remaining lease term:

        Operating leases
         
        5.6 years

        Weighted average discount rate:

        Operating leases

        5.3
         %

61

 ACCO Brands Corporation and SubsidiariesNotes to Consolidated Financial Statements (Continued) 

  Future minimum lease payments, net of sub-lease income, for all non-cancelable leases as of December 31, 2024 were as follows: 

        (in millions)
         
        OperatingLeases

        2025

        26.2