Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 77

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 77
---
 7.8

        (5.8
        )

        2.0

        8.2

        (5.0
        )

        3.2

        Subtotal

        1,068.4

        (415.5
        )

        652.9

        950.1

        (385.0
        )

        565.1

        Total identifiable intangibles
         
        $
        1,169.6

        $
        (460.0
        )
         
        $
        709.6

        $
        1,245.2

        $
        (429.5
        )
         
        $
        815.7

       (1)Accumulated amortization prior to the adoption of authoritative guidance on goodwill and other intangible assets, at which time further amortization ceased.(2)Reflects the change of our Five Star® and Swingline® indefinite-lived trade names to amortizable intangible assets as of June 1, 2024. The Company’s intangible amortization expense was $44.7 million, $43.4 million and $41.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated amortization expense for amortizable intangible assets for the next five years is as follows:

        (in millions)
         
        2025

        2026

        2027

        2028

        2029

        Estimated amortization expense(3)
         
        $
        44.8

        $
        42.8

        $
        40.4

        $
        38.3

        $
        36.6

       (3)Actual amounts of amortization expense may differ from estimated amounts due to changes in foreign currency exchange rates, additional intangible asset acquisitions, impairment of intangible assets, accelerated amortization of intangible assets and other events.

10. Restructuring  The Company recorded $16.8 million, $27.2 million and $9.6 million of restructuring charges for the years ended December 31, 2024, 2023 and 2022, respectively. Restructuring charges were primarily for severance costs related to cost reduction initiatives for all segments in 2024, 2023 and 2022.

74

 ACCO Brands Corporation and