ACCO BRANDS Corp Files Q2 2024 10-Q
Ticker: ACCO · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 712034
Sentiment: neutral
Topics: 10-Q, financials, debt
TL;DR
ACCO BRANDS Corp filed its Q2 2024 10-Q, check financials.
AI Summary
ACCO BRANDS Corp filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational aspects for the company, which is incorporated in Delaware and headquartered in Lake Zurich, IL. Key financial instruments and reporting segments, such as Acco Brands International and Acco Brands Americas, are referenced within the report.
Why It Matters
This filing provides investors and analysts with the latest financial data for ACCO BRANDS Corp, crucial for understanding the company's performance and making informed investment decisions.
Risk Assessment
Risk Level: medium — The filing contains detailed financial information, including debt instruments and segment performance, which requires careful analysis to assess the company's financial health and associated risks.
Key Numbers
- $60047 — ZIP Code (Company Headquarters)
- 847-541-9500 — Business Phone (Company Contact Information)
Key Players & Entities
- ACCO BRANDS Corp (company) — Filer
- 2024-06-30 (date) — Reporting Period End Date
- Lake Zurich, IL (location) — Company Headquarters
- USDSeniorSecuredTermLoanADueMarch2026Member (financial_instrument) — Debt Instrument
- Acco Brands International (company_segment) — Reporting Segment
- Acco Brands Americas (company_segment) — Reporting Segment
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is June 30, 2024.
Where is ACCO BRANDS Corp headquartered?
ACCO BRANDS Corp is headquartered in Lake Zurich, IL.
What is the SEC file number for ACCO BRANDS Corp?
The SEC file number for ACCO BRANDS Corp is 001-08454.
What is the fiscal year end for ACCO BRANDS Corp?
The fiscal year end for ACCO BRANDS Corp is December 31.
What type of financial instrument is mentioned in relation to March 2026?
A USDSeniorSecuredTermLoanADueMarch2026Member is mentioned.
Filing Stats: 4,633 words · 19 min read · ~15 pages · Grade level 6.6 · Accepted 2024-08-02 12:43:05
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share ACCO NYSE Indicate by c
Filing Documents
- acco-20240630.htm (10-Q) — 2529KB
- acco-ex31_1.htm (EX-31.1) — 14KB
- acco-ex31_2.htm (EX-31.2) — 13KB
- acco-ex32_1.htm (EX-32.1) — 8KB
- acco-ex32_2.htm (EX-32.2) — 8KB
- 0000950170-24-089733.txt ( ) — 11408KB
- acco-20240630.xsd (EX-101.SCH) — 1443KB
- acco-20240630_htm.xml (XML) — 2477KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION 4
Financial Statements
Item 1. Financial Statements 4 Condensed Consolidated Balance Sheets 4 Consolidated Statements of (Loss) Income 5 Consolidated Statements of Comprehensive (Loss) Income 6 Condensed Consolidated Statements of Cash Flows 7 Consolidated Statement of Stockholders' Equity 8 Notes to Condensed Consolidated Financial Statements 10
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 29
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 36
Controls and Procedures
Item 4. Controls and Procedures 36
— OTHER INFORMATION
PART II — OTHER INFORMATION 36
Legal Proceedings
Item 1. Legal Proceedings 36
Risk Factors
Item 1A. Risk Factors 37
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 37
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 37
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 38
— FINANCIAL INF ORMATION
PART I — FINANCIAL INF ORMATION
FINANCI AL STATEMENTS
ITEM 1. FINANCI AL STATEMENTS ACCO Brands Corporation and Subsidiaries Condensed Consolidated Balance Sheets June 30, 2024 December 31, 2023 (in millions) (unaudited) Assets Current assets: Cash and cash equivalents $ 112.7 $ 66.4 Accounts receivable, net 369.1 430.7 Inventories 330.0 327.5 Other current assets 46.6 30.8 Total current assets 858.4 855.4 Total property, plant and equipment 565.1 599.6 Less: accumulated depreciation ( 411.3 ) ( 429.5 ) Property, plant and equipment, net 153.8 170.1 Right of use asset, leases 89.1 91.0 Deferred income taxes 97.6 104.7 Goodwill 451.3 590.0 Identifiable intangibles, net 743.7 815.7 Other non-current assets 19.5 17.9 Total assets $ 2,413.4 $ 2,644.8 Liabilities and Stockholders' Equity Current liabilities: Notes payable $ 13.9 $ 0.2 Current portion of long-term debt 48.3 36.5 Accounts payable 174.5 183.7 Accrued compensation 38.7 53.3 Accrued customer program liabilities 84.8 104.0 Lease liabilities 20.4 20.5 Other current liabilities 103.7 143.8 Total current liabilities 484.3 542.0 Long-term debt, net 917.5 882.2 Long-term lease liabilities 75.1 76.8 Deferred income taxes 115.1 125.6 Pension and post-retirement benefit obligations 144.4 157.6 Other non-current liabilities 59.9 73.6 Total liabilities 1,796.3 1,857.8 Stockholders' equity: Common stock 1.0 1.0 Treasury stock ( 47.0 ) ( 45.1 ) Paid-in capital 1,921.7 1,913.4 Accumulated other comprehensive loss ( 555.9 ) ( 526.3 ) Accumulated deficit ( 702.7 ) ( 556.0 ) Total stockholders' equity 617.1 787.0 Total liabilities and stockholders' equity $ 2,413.4 $ 2,644.8 See Notes to Condensed Consolidated Financial Statements (Unaudited). 4 ACCO Brands Corporation and Subsidiaries Co nsolidated Statements o