Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 84

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 84
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        Year Ended December 31,

        (in millions)
         
        2024

        2023

        2022

        Weighted-average number of shares of common stock outstanding - basic

        95.6

        95.3

        95.3

        Effect of dilutive securities:

        Restricted stock units

        —

        —

        —

        Weighted-average shares and assumed conversions - diluted(1)

        95.6

        95.3

        95.3

      (1)Due to the net loss during the twelve months ended December 31, 2024, 2023 and 2022, diluted earnings per share are the same as basic earnings per share. Awards of potentially dilutive shares of common stock, which have exercise prices that were higher than the average market price during the period, are not included in the computation of dilutive earnings per share as their effect would have been anti-dilutive. For the years ended December 31, 2024, 2023, and 2022, the number of anti-dilutive shares were approximately 10.1 million, 9.9 million and 9.8 million, respectively.

13. Derivative Financial Instruments  We are exposed to various market risks, including changes in foreign currency exchange rates and interest rate changes. We enter into financial instruments to manage and reduce the impact of these risks, not for trading or speculative purposes. The counterparties to these financial instruments are major financial institutions. We continually monitor our foreign currency exposures in order to maximize the overall effectiveness of our foreign currency hedge positions. Principal currencies hedged against the U.S. dollar include the Euro, Australian dollar, Canadian dollar, Swedish krona, British pound and Japanese yen. We are subject to credit risk, which relates to the ability of counterparties to meet their contractual payment obligations or the potential non-performance by counterparties to financial instrument contracts. Management continues to monitor the status of our counterparties and will take action, as appropriate, to further manage our counterparty credit risk. There are no credit contingency features in our derivative financial instruments. When hedge accounting is applicable, on the date we enter into a derivative, the derivative is designated as a hedge of the identified exposure. We measure the effectiveness of our hedging relationships both at hedge inception and on an ongoing basis. 

80

 ACCO Brands Corporation and SubsidiariesNotes to Consolidated Financial Statements (Contin