BRINKS CO

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

BCO$116.60+1.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

	Years Ended December 31,
(In millions)	2023	2022	2021
Cash flows from operating activities:
Net income	$98.3	181.9	117.3
Adjustments to reconcile net income to net cash provided by operating activities:
(Income) loss from discontinued operations, net of tax	(1.7)	2.9	(2.1)
Depreciation and amortization	275.8	245.8	239.5
Share-based compensation expense	32.1	48.6	33.1
Deferred income taxes	22.7	(62.3)	14.6
(Gain) loss on marketable securities and sale of property and equipment	10.9	0.7	(17.7)
Impairment losses	10.3	9.0	9.5
Retirement benefit funding (more) less than expense:
Pension	(10.2)	(3.7)	12.4
Other than pension	(5.5)	7.9	14.2
Remeasurement losses due to Argentina currency devaluation	79.1	37.6	9.0
Other operating	26.1	23.6	(5.8)
Changes in operating assets and liabilities, net of effects of acquisitions:
(Increase) decrease in accounts receivable and income taxes receivable	69.0	(180.9)	(21.2)
Increase (decrease) in accounts payable, income taxes payable and accrued liabilities	(36.3)	139.2	45.1
Increase in restricted cash held for customers	59.5	50.0	60.2
Increase in customer obligations	66.0	50.0	15.7
(Increase) decrease in prepaid and other current assets	24.6	(56.7)	(16.8)
Other	(18.3)	(13.7)	(29.0)
Net cash provided by operating activities	702.4	479.9	478.0
Cash flows from investing activities:
Capital expenditures	(202.7)	(182.6)	(167.9)
Acquisitions, net of cash acquired	(1.5)	(173.9)	(313.2)
Dispositions, net of cash disposed	1.1	—	—
Marketable securities:
Purchases	(134.7)	(30.3)	(15.6)
Sales	150.4	11.7	35.1
Cash proceeds from sale of property, equipment and investments	18.4	5.7	7.7
Cash proceeds from settlement of cross currency swap	—	64.3	—
Net change in loans held for investment	(11.1)	(25.9)	—
Other	(0.6)	(0.2)	(0.8)
Discontinued operations	0.9	—	—
Net cash used by investing activities	(179.8)	(331.2)	(454.7)
Cash flows from financing activities:
Borrowings (repayments) of debt:
Short-term borrowings	98.6	37.7	(4.3)
Long-term revolving credit facilities:
Borrowings	9,265.7	7,058.7	3,385.5
Repayments	(9,273.8)	(6,832.7)	(2,836.8)
Other long-term debt:
Borrowings	25.4	189.9	7.7
Repayments	(97.1)	(87.0)	(140.7)
Acquisition of noncontrolling interests	(0.6)	(7.8)	—
Cash received from acquisition related settlements	—	—	6.2
Cash paid for acquisition related settlements and obligations	(11.1)	(2.8)	(4.0)
Debt financing costs	—	(5.6)	(0.8)
Repurchase shares of Brink's common stock	(169.9)	(52.2)	(200.0)
Dividends to:
Shareholders of Brink’s	(39.6)	(37.6)	(37.2)
Noncontrolling interests in subsidiaries	(7.7)	(7.1)	(5.1)
Proceeds from exercise of stock options	—	—	2.3
Tax withholdings associated with share-based compensation	(8.0)	(12.2)	(5.5)
Other	11.0	3.9	4.0
Net cash (used) provided by financing activities	(207.1)	245.2	171.3
Effect of exchange rate changes on cash and cash equivalents	(42.4)	(70.1)	(50.8)
Cash, cash equivalents and restricted cash:
Increase	273.1	323.8	143.8
Balance at beginning of period	1,410.5	1,086.7	942.9
Balance at end of period	$1,683.6	1,410.5	1,086.7

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.