Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 187

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 187
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-lived trade names. The result of our assessment was that the fair value of the Five Star® indefinite-lived trade name did not exceed its carrying value resulting in an impairment charge of $37.7 million. The result of our assessment of the Swingline® and ACCO® indefinite-lived trade names was that the fair value of each exceeded its carrying value and we concluded that no impairment existed. Estimating the fair value of each trade name requires us to make assumptions and estimates regarding our future. We utilized a relief-from-royalty discounted cash flows approach. The financial projections used in the valuation models reflected management's assumptions regarding revenue growth rates, economic and market trends, royalty rate, discount rate, and other expectations about the anticipated short-term and long-term operating results for each of our indefinite-lived trade names. We believe the assumptions used in our impairment analysis are appropriate and result in reasonable estimates of the implied fair value of each of our indefinite-lived trade names. However, given the economic environment and the uncertainties regarding the impact on our business, there can be no assurance that our estimates and assumptions, made for purposes of our indefinite-lived intangible impairment testing, will prove to be an accurate prediction of the future.  As of June 1, 2024, we changed our Five Star® and Swingline® indefinite-lived trade names to amortizable intangible assets as they no longer met the indefinite-lived criteria. We began amortizing both trade names on a straight-line basis over a life of 30 years as of June 1, 2024. 

73

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

The Company's gross carrying value and accumulated amortization by class of identifiable intangible assets as of December 31, 2024 and 2023 were as follows: 

        December 31, 2024

        December 31, 2023

        (in millions)
         
        Gross Carrying Amounts

        Accumulated Amortization

        Net Book Value

        Gross Carrying Amounts

        Accumulated Amortization

        Net Book Value

        Indefinite-lived intangible assets:

        Trade names(1) (2)
         
        $
        101.2

        $
        (44.5
        )
         
        $
        56.7

        $
        295.1

        $
        (44.5
        )
         
        $
        250