BRINKS CO
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
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Financing Activities
| Years Ended December 31, · $ change | |||||
|---|---|---|---|---|---|
| (In millions) | 2024 | 2023 | 2022 | 2024 | 2023 |
| Cash flows from financing activities | |||||
| Borrowings and repayments: | |||||
| Short-term borrowings | $12.9 | 98.6 | 37.7 | $(85.7) | 60.9 |
| Long-term revolving credit facilities, net | (7.7) | (8.1) | 226.0 | 0.4 | (234.1) |
| Other long-term debt, net | 320.0 | (71.7) | 102.9 | 391.7 | (174.6) |
| Borrowings (repayments) | 325.2 | 18.8 | 366.6 | 306.4 | (347.8) |
| Acquisition of noncontrolling interest | (0.2) | (0.6) | (7.8) | 0.4 | 7.2 |
| Debt financing costs | (10.6) | — | (5.6) | (10.6) | 5.6 |
| Repurchase shares of Brink's common stock | (203.6) | (169.9) | (52.2) | (33.7) | (117.7) |
| Dividends to: | |||||
| Shareholders of Brink’s | (41.8) | (39.6) | (37.6) | (2.2) | (2.0) |
| Noncontrolling interests in subsidiaries | (6.1) | (7.7) | (7.1) | 1.6 | (0.6) |
| Payment of acquisition-related obligation | (0.8) | (11.1) | (2.8) | 10.3 | (8.3) |
| Tax withholdings associated with share-based compensation | (18.6) | (8.0) | (12.2) | (10.6) | 4.2 |
| Other | (1.3) | 11.0 | 3.9 | (12.3) | 7.1 |
| Financing activities | $42.2 | (207.1) | 245.2 | $249.3 | (452.3) |
Debt borrowings and repayments
Cash flows from financing activities increased by $249.3 million in 2024 compared to 2023 as we had net cash provided by financing activities of $42.3 million in 2024 compared to net cash used in financing activities of $207.1 million in 2023. The change was driven primarily by an increase in net borrowings (as discussed in Note 15) compared to the prior year, partially offset by increased cash used to to repurchase shares of common stock in the current year (we used $203.6 million in cash to repurchase shares of common stock in 2024, compared to $169.9 million in 2023).
Dividends
We paid dividends to Brink’s shareholders of $0.9475 per share or $41.8 million in 2024 compared to $0.86 per share or $39.6 million in 2023 and $0.80 per share or $37.6 million in 2022. Future dividends are dependent on our earnings, financial condition, shareholders’ equity levels, our cash flow and business requirements, as determined by the Board.
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