Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 197

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 197
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 0.4

        $
        9.8

        Cost of products sold
         
        $
        (1.3
        )
         
        $
        (2.8
        )
         
        $
        (14.0
        )

        The Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Financial Statements

        Location of (Gain) Loss Recognized in Income on Derivatives
         
        Amount of (Gain) Loss Recognized in Income

        (in millions)

        2024

        2023

        2022

        Foreign exchange contracts
         
        Other (income) expense, net
         
        $
        (4.5
        )
         
        $
        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