Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 65

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 65
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9

        5.2

        —

        —

       Pension and post-retirement benefit obligations of $117.2 million as of December 31, 2024, decreased from $157.6 million as of December 31, 2023. The decrease was primarily due to updated assumptions and foreign exchange, partly offset by cash contributions. The accumulated benefit obligation for all pension plans was $542.9 million and $625.1 million at December 31, 2024 and 2023, respectively. The following table sets out information for pension plans with an accumulated benefit obligation in excess of plan assets: 

        U.S.

        International

        (in millions)

        2024

        2023

        2024

        2023

        Accumulated benefit obligation(1)
         
        $
        150.5

        $
        162.6

        $
        116.8

        $
        437.4

        Fair value of plan assets

        145.4

        145.5

        4.0

        297.2

      (1)The decrease in 2024 under International as compared to 2023 is the result of the ACCO U.K. plan ABO no longer being in excess of plan assets as of December 31, 2024, unlike the prior year. 

63

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

The following table sets out information for pension plans with a projected benefit obligation in excess of plan assets: 

        U.S.

        International

        (in millions)

        2024

        2023

        2024

        2023

        Projected benefit obligation
         
        $
        150.5

        $
        162.6

        $
        385.1

        $
        442.1

        Fair value of plan assets

        145.4

        145.5

        268.9

        297.2

       The components of net periodic benefit (income) cost for pension and post-retirement plans for the years ended December 31, 2024, 2023 and 2022, were as follows: 

        Year Ended December 31,

        Pension

        Post-retirement

        U.S.

        International

        (in