Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 202

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 202
---
        1.5

        Latin America

        22.7

        29.1

        ACCO Brands Americas

        74.7

        98.8

        ACCO Brands EMEA

        53.5

        60.9

        Australia/N.Z.

        8.7

        9.5

        Asia-Pacific

        0.6

        0.9

        ACCO Brands International

        62.8

        71.3

        Property, plant and equipment, net
         
        $
        137.5

        $
        170.1

       Top Customers Net sales to our five largest customers totaled $532.9 million, $609.0 million and $663.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. No customer exceeded 10 percent of net sales for the years ended December 31, 2024, 2023 and 2022. As of December 31, 2024 and 2023, our top five trade accounts receivable totaled $116.3 million and $138.1 million, respectively.

18. Commitments and Contingencies  Pending Litigation - Brazil Tax Assessments In connection with our May 1, 2012 acquisition of the Mead C&OP business, we assumed all of the tax liabilities for the acquired foreign operations including ACCO Brazil. For further information, see "Note 11. Income Taxes - Brazil Tax Assessments" for details on tax assessments issued by the FRD against ACCO Brazil challenging the tax deduction of goodwill from ACCO Brazil's taxable income for the years 2007 through 2010. If the FRD's initial position is ultimately sustained, payment of the amount assessed would materially and adversely affect our cash flow in the year of settlement. Brazil Tax Credits In May 2021, the Supreme Court of Brazil issued its final ruling in a leading case related to the computation of certain indirect taxes which provides that the indirect tax base should not include the gross amount of the value-added tax known as "ICMS." The Supreme Court further ruled that taxpayers can recognize future operating credits ("Tax Credits") for excess indirect tax payments from past periods due to the inclusion of ICMS in the indirect tax base to the extent the taxpayer had filed judicial challenges seeking to recover excess tax payments prior to March 15,