We test goodwill for impairment at least annually and on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has been incurred. No such event or circumstance was identified during the second quarter ended June 30, 2026.

Historically, we performed our annual impairment test during the second quarter with a May 31st measurement date. During the second quarter of 2026, we changed the measurement date from May 31st to August 31st. This change is preferable as it better aligns with the timing of our strategic planning process while still providing adequate time to complete the impairment testing analysis prior to the year-end financial reporting. The new measurement date is within twelve months of our last impairment assessment of goodwill which was performed as of November 30, 2025, on a quantitative basis, for both the Americas and International reporting units. This change does not accelerate, delay, avoid, or cause an impairment charge, nor does this change result in adjustments to previously issued financial statements.

Changes in the net carrying amount of goodwill by segment were as follows:


(in millions)	ACCO Brands Americas		ACCO Brands International			Total
Balance at December 31, 2025	$	254.7	$	223.8		$	478.5
Foreign currency translation		0.7		(9.9	)		(9.2	)
Balance at June 30, 2026	$	255.4	$	213.9		$	469.3

The goodwill balance includes $530.8 million of accumulated impairment losses as of December 31, 2025 and June 30, 2026.

We test our indefinite-lived intangible for impairment at least annually. During the second quarter of 2026, we determined to perform the annual impairment test as of August 31st to align with the impairment testing of goodwill. We also test for impairment on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has occurred. No such event or circumstance was identified during the second quarter ended June 30, 2026.

The gross carrying value and accumulated amortization by class of identifiable intangible assets as of June 30, 2026 and December 31, 2025, were as follows:


	June 30, 2026							December 31, 2025
(in millions)	Gross Carrying Amounts		Accumulated Amortization			Net Book Value		Gross Carrying Amounts		Accumulated Amortization			Net Book Value
Indefinite-lived intangible assets:
Trade name(1)	$	101.2	$	(44.5	)	$	56.7	$	101.2	$	(44.5	)	$	56.7
Amortizable intangible assets:
Trade names		656.5		(196.8	)		459.7		658.9		(185.7	)		473.2
Customer and contractual relationships		369.2		(266.5	)		102.7		371.8		(260.4	)		111.4
Vendor relationships		82.4		(30.4	)		52.0		82.4		(27.7	)		54.7
Patents and developed technology		12.6		(8.8	)		3.8		8.2		(7.3	)		0.9
Subtotal		1,120.7		(502.5	)		618.2		1,121.3		(481.1	)		640.2
Total identifiable intangibles	$	1,221.9	$	(547.0	)	$	674.9	$	1,222.5	$	(525.6	)	$	696.9

(1)

Accumulated amortization prior to the adoption of authoritative guidance on goodwill and other intangible assets, at which time further amortization ceased.

The Company's intangible amortization expense for the three and six months ended June 30, 2026 was $11.3 million and $22.7 million, respectively, and $11.6 million and $22.9 million for the three and six months ended June 30, 2025, respectively.

Estimated amortization expense for amortizable intangible assets, as of June 30, 2026, for the current year and the next five years is as follows:


(in millions)	2026		2027		2028		2029		2030		2031
Estimated amortization expense(2)	$	44.8	$	42.3	$	40.1	$	38.3	$	37.3	$	36.2

(2)

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.