Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 34

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 34
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 debt(1)

    36.5

    69.3

    42.9

    —

    148.7

    Operating lease obligations(2)

    26.2

    38.0

    24.2

    17.8

    106.2

    Purchase obligations(3)

    113.3

    5.5

    —

    —

    118.8

    Transition Toll Tax(4)

    9.6

    —

    —

    —

    9.6

    Other long-term liabilities(5)

    16.0

    15.0

    14.9

    35.8

    81.7

    Total
     
    $
    252.9

    $
    143.8

    $
    854.4

    $
    53.6

    $
    1,304.7

(1)Interest calculated at December 31, 2024, rates for variable rate debt.

(2)For further information on leases, see "Note 4. Leases" to the consolidated financial statements contained in Part II, Item 8. of this report.

(3)Purchase obligations primarily consist of contracts and non-cancelable purchase orders for raw materials and finished goods.

(4)The U.S. Tax Cuts and Jobs Act requires companies to pay a one-time Transition Toll Tax, which is payable over eight years.

(5)Other long-term liabilities consist of estimated expected employer contributions to pension and post-retirement plans for 2024, along with estimated future payments to these plans that are not paid from assets held in a plan trust.

Due to the uncertainty with respect to the timing of future cash flows associated with our unrecognized tax benefits at December 31, 2024, we are unable to make reasonably reliable estimates of the period of cash settlement with the respective taxing authorities. Therefore, $20.7 million of unrecognized tax benefits have been excluded from the contractual obligations table above. For further information, see "Note 11. Income Taxes" to the consolidated financial statements contained in Part II, Item 8. of this report.

Critical Accounting Estimates

Our financial statements are prepared in conformity with generally accepted accounting principles in the U.S. ("GAAP"). Preparation of our financial statements requires us to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses presented