ACCO BRANDS Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>ACCO BRANDS Corp has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

ACCO BRANDS Corp (ACCO) filed a Annual Report (10-K) with the SEC on February 23, 2024. ACCO BRANDS Corp filed its 2023 Form 10-K on February 23, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is in 'BLANKBOOKS, LOOSELEAF BINDERS & BOOKBINDING & RELATED WORK' (SIC 2780). ACCO BRANDS Corp is incorporated in Delaware and headquartered in Lake Zurich, IL. The filing includes data related to various financial instruments, pension plans, and liabilities as of December 31, 2023, and prior periods.

Why It Matters

For investors and stakeholders tracking ACCO BRANDS Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of ACCO BRANDS Corp's financial performance, operations, and risk factors for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. The detailed financial data within the report, including information on debt, assets, and liabilities, allows stakeholders to understand the company's financial structure and its ability to manage financial risks.

Risk Assessment

Risk Level: medium — ACCO BRANDS Corp shows moderate risk based on this filing. The company's financial disclosures indicate a complex financial structure with various debt instruments and liabilities, suggesting potential financial risks that require careful monitoring.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand ACCO BRANDS Corp's financial health and operational risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-23 — Filing Date (FILED AS OF DATE)
• 138 — Public Document Count (PUBLIC DOCUMENT COUNT)

Key Players & Entities

• ACCO BRANDS Corp (company) — CONFORMED NAME
• 0000712034 (company) — CENTRAL INDEX KEY
• 2780 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• LAKE ZURICH (company) — CITY
• IL (company) — STATE
• 60047 (company) — ZIP
• 847-541-9500 (company) — BUSINESS PHONE

FAQ

Industry Context

ACCO BRANDS Corp operates within the manufacturing sector, specifically in the production of blankbooks, looseleaf binders, and related bookbinding products.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) for publicly traded companies in the United States.

What Investors Should Do

1. Review the detailed financial statements and footnotes in the 10-K for a comprehensive understanding of ACCO BRANDS Corp's financial position.
2. Analyze the risk factors section to identify potential challenges and uncertainties facing the company.
3. Compare the current year's financial data with previous years to identify trends and assess performance changes.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-02-23: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual 10-K for the fiscal year ending December 31, 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $1.3 billion — top 12 brands represented approximately $1.3 billion of our 2023 net sales. Through our stra

Filing Documents

• acco-20231231.htm (10-K) — 5051KB
• acco-ex19.htm (EX-19) — 66KB
• acco-ex21_1.htm (EX-21.1) — 35KB
• acco-ex23_1.htm (EX-23.1) — 4KB
• acco-ex24_1.htm (EX-24.1) — 48KB
• acco-ex31_1.htm (EX-31.1) — 13KB
• acco-ex31_2.htm (EX-31.2) — 13KB
• acco-ex32_1.htm (EX-32.1) — 7KB
• acco-ex32_2.htm (EX-32.2) — 7KB
• acco-ex97.htm (EX-97) — 34KB
• img117899421_0.jpg (GRAPHIC) — 102KB
• img117899421_1.jpg (GRAPHIC) — 135KB
• 0000950170-24-019211.txt (&nbsp;) — 23339KB
• acco-20231231.xsd (EX-101.SCH) — 2599KB
• acco-20231231_htm.xml (XML) — 5566KB

Business

Business 1 ITEM 1A.

Risk Factors

Risk Factors 7 ITEM 1B. Unresolved Staff Comments 19 ITEM 1C. Cybersecurity 19 ITEM 2.

Properties

Properties 22 ITEM 3.

Legal Proceedings

Legal Proceedings 23 ITEM 4. Mine Safety Disclosures 23 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 ITEM 6. [ Reserved ] 25 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 42 ITEM 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 91 ITEM 9A.

Controls and Procedures

Controls and Procedures 91 ITEM 9B. Other Information 92 ITEM 9C. Disclosure Regarding Foreign Ju risdic tions that Prevent Inspections 92 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 93 ITEM 11.

Executive Compensation

Executive Compensation 93 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 94 ITEM 14. Principal Accountant Fees and Services 94 PART IV ITEM 15. Exhibits and Financial Statement Schedules 94 ITEM 16. Form 10-K Summary 95

Signatures

Signatures 101 PART I

BUSINESS

ITEM 1. BUSINESS As used in this Annual Report on Form 10-K for the fiscal year ended December 31, 2023, the terms "ACCO Brands," "ACCO," the "Company," "we," "us," and "our" refer to ACCO Brands Corporation, a Delaware corporation incorporated in 2005, and its consolidated domestic and international subsidiaries. For a description of certain factors that may have had, or may in the future have, a significant impact on our business, results of operations or financial condition, see "Part I. Item 1A. Risk Factors " of this report. Overview of the Company ACCO Brands is a leading global consumer, technology and business branded products company, providing well-known brands and innovative product solutions used in schools, homes and at work. Approximately 77 percent of our 2023 net sales came from brands that are in the No. 1 or No. 2 position in the product categories in which we compete. Our top 12 brands represented approximately $1.3 billion of our 2023 net sales. Through our strategy, we have expanded into higher growth product categories, while increasing our sales mix to higher growth channels including retail and mass merchants, e-tailers, and technology specialists. We have an experienced management team with a proven ability to grow brands, integrate acquisitions, manage seasonal businesses, run lean organizations and navigate challenging environments. Our products are sold primarily in the U.S., Europe, Australia, Canada, Brazil and Mexico. Note: Artline in Australia/N.Z. only Business Strategy The Company is currently executing a strategy that will enable us to achieve long-term sustainable organic growth and profit improvement. Our key strategic priorities are to: Drive sustainable organic sales growth by focusing on innovative new product development, strengthening our brand positioning, and increasing our presence in faster growing sales channels. Use our strong brand recognition and supply chain expertise to expand relationships with n

RISK FACTORS

ITEM 1A. RISK FACTORS The factors that are discussed below, as well as the matters that are generally set forth in this Annual Report on Form 10-K and the documents incorporated by reference herein, could materially and adversely affect the Company's business, results of operations and financial condition. Additional risks and uncertainties that are not presently known to us or that are not deemed material also may materially adversely affect the Company's business, results of operations and financial condition in the future. Economic and Strategic Risks A limited number of large customers account for a significant percentage of our net sales, and the loss of, or a substantial reduction in sales to, or gross profit from, or significant decline in the financial condition of one or more of these customers has and may continue to adversely impact our business and results of operations. Our top ten customers accounted for 41.6 percent of our net sales for the year ended December 31, 2023. The loss of, or a significant reduction in sales to, or gross profit from, one or more of

View Full Filing

View this 10-K filing on SEC EDGAR