Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 184

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 184
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, 2024

        3,546,242

        $
        5.81

       For the years ended December 31, 2023 and 2022, we granted 2,301,907 and 1,170,884 PSUs, respectively. For the years ended December 31, 2024, 2023 and 2022, 685,998, 336,077 and 350,656 PSUs vested, respectively. The weighted-average grant date fair value of our PSUs was $5.80, $5.39, and $8.88 for the years ended December 31, 2024, 2023 and 2022, respectively. The fair value of PSUs that vested during the years ended December 31, 2024, 2023 and 2022 was $4.6 million, $2.8 million and $3.0 million, respectively. Based on the level of achievement of the performance targets associated with the PSU awards, as of December 31, 2024, we have $4.4 million of unrecognized compensation expense, which will be recognized over a weighted-average period of 1.5 years.

7. Inventories  The components of inventories were as follows:

        (in millions)
         
        2024

        2023

        Raw materials
         
        $
        35.9

        $
        50.1

        Work in process

        3.3

        4.7

        Finished goods

        231.2

        272.7

        Total inventories
         
        $
        270.4

        $
        327.5

71

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

8. Property, Plant and Equipment, Net  The components of net property, plant and equipment were as follows: 

        December 31

        (in millions)
         
        2024

        2023

        Land and improvements
         
        $
        17.4

        $
        20.9

        Buildings and improvements to leaseholds

        115.4

        130.7

        Machinery and equipment

        365.2

        442.9

        Construction in progress

        7.5

        5.1

        505