Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 27

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 27
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 the net loss was primarily due to the higher non-cash impairment charges related to our intangible assets.

29

Segment Net Sales and Operating (Loss) Income for the Years Ended December 31, 2024 and 2023

ACCO Brands Americas

    Year EndedDecember 31,

    Amount of Change

    (in millions)
     
    2024

    2023

    $

    %/pts

    Net sales
     
    $
    999.9

    $
    1,135.7

    $
    (135.8
    )

    (12.0
    )%

    Segment operating (loss) income⁽¹⁾

    (45.5
    )

    43.9

    (89.4
    )
     
    NM

    Segment operating (loss) income margin

    (4.6
    )%

    3.9
     %

    (8.5
    )
     pts

    Comparable sales (Non-GAAP)⁽²⁾
     
    $
    1,016.6

    $
    1,135.7

    $
    (119.1
    )

    (10.5
    )%

(1)Segment operating (loss) income excludes corporate costs. See "Part II, Item 8. Note 17. Information on Operating Segments" for a reconciliation of total "Segment operating (loss) income" to "(Loss) income before income tax."

(2)See reconciliation to GAAP contained in Part II, Item 7. "Supplemental Non-GAAP Financial Measure."

For the year ended December 31, 2024, net sales decreased $135.8 million, or 12.0 percent, as a result of lower volume of $105.0 million, or 9.2 percent, and price decreases which reduced sales by $14.0 million, or 1.2 percent. The volume decline was primarily due to softer business and consumer demand for our back-to-school and office products as well as from the exit of lower margin business primarily in North America which accounted for approximately 3.0 percent. The decline was partly offset by growth in technology accessories. Adverse foreign exchange reduced net sales $16.7 million, or 1.5 percent.

For the year ended December 31, 2024, operating loss was $45.5 million compared to