Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 199

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 199
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.9
        )
         
        $
        (8.2
        )

        Amortization of prior service cost(1)

        (0.3
        )

        (0.3
        )

        (0.3
        )

        Total before tax

        (11.4
        )

        (6.2
        )

        (8.5
        )

        Tax benefit

        3.0

        0.7

        1.6

        Income tax expense

        Net of tax
         
        $
        (8.4
        )
         
        $
        (5.5
        )
         
        $
        (6.9
        )

        Total reclassifications for the period, net of tax
         
        $
        (7.6
        )
         
        $
        (3.5
        )
         
        $
        3.0

       (1)These AOCI components are included in the computation of net periodic benefit (income) cost for pension and post-retirement plans (See "Note 5. Pension and Other Retiree Benefits" for additional details).

16. Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to our customers in an amount reflective of the consideration we expect to be received in exchange for those goods or services. Taxes we collect concurrent with revenue producing activities are excluded from revenue. Incidental items incurred that are immaterial in the context of the contract are expensed. At the inception of each contract, the Company assesses the products and services promised and identifies each distinct performance obligation. To identify the performance obligations, the Company considers all products and services promised regardless of whether they are explicitly stated or implied within the contract or by standard business practices. Freight and distribution activities performed before the customer obtains control of the goods are not considered promised services under customer contracts and therefore are not distinct performance obligations. The Company has chosen to account for shipping and handling activities as a fulfillment activity, and therefore accrues the expense of freight and distribution in "Cost of products sold" when product is shipped. As of December 31, 2023, there was $2.9 million of unearned revenue associated with outstanding service or extended maintenance agreements ("EMAs"), primarily reported in "Other current liabilities." During the year ended December 31, 2024, $2.5 million of the unearned revenue was earned and recognized. As of