Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 86

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 86
---
        )
         
        $
        0.1

        $
        (3.7
        )

14. Fair Value of Financial Instruments  In establishing a fair value, there is a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The basis of the fair value measurement is categorized in three levels, in order of priority, as described below:

      Level 1
      Unadjusted quoted prices in active markets for identical assets or liabilities

      Level 2
      Unadjusted quoted prices in active markets for similar assets or liabilities, or

      Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or

      Inputs other than quoted prices that are observable for the asset or liability

      Level 3
      Unobservable inputs for the asset or liability
     
     We utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. We have determined that our financial assets and liabilities described in "Note 13. Derivative Financial Instruments" are Level 2 in the fair value hierarchy. The following table sets forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2024 and 2023: 

        (in millions)
         
        December 31,2024

        December 31,2023

        Assets:

        Forward currency contracts
         
        $
        13.3

        $
        4.5

        Liabilities:

        Forward currency contracts
         
        $
        9.3

        $
        4.9

       Our forward currency contracts are included in "Other current assets," "Other current liabilities," "Other non-current assets," or "Other non-current liabilities." The forward foreign currency exchange contracts are primarily valued based on the foreign currency spot and forward rates quoted by banks or foreign currency dealers. As such, these derivative instruments are classified within Level 2.

82

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

 The fair values of cash and cash equivalents, notes payable to banks, accounts receivable and accounts payable approximate carrying amounts due principally to their short maturities. The carrying amount of total debt was $839.7 million and $925.6 million, and the estimated fair value of total debt was $789.