XML 20 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 18.3 $ 74.2
Adjustments to reconcile net income to net cash used in operating activities:    
Discontinued operations (0.7) 0.1
Depreciation and amortization 67.6 61.0
Share-based compensation expense 10.9 7.1
Deferred income taxes (0.2) (58.2)
Loss on sale of property, equipment and marketable securities 0.1 0.2
Loss on business dispositions 2.0 0.0
Impairment losses 3.7 2.1
Retirement benefit funding (more) less than expense:    
Pension (2.3) (0.3)
Other than pension (5.6) 2.0
Remeasurement losses due to Argentina currency devaluations 9.8 4.9
Other operating 9.0 18.4
Changes in operating assets and liabilities, net of effects of acquisitions:    
Increase in accounts receivable and income taxes receivable (4.6) (81.1)
Decrease in accounts payable, income taxes payable and accrued liabilities (81.1) (4.8)
Decrease in restricted cash held for customers (43.7) (52.5)
Increase (decrease) in customer obligations (9.6) (0.1)
Increase in prepaid and other current assets (21.8) (48.4)
Other 3.1 (0.9)
Net cash used in operating activities (45.1) (76.3)
Cash flows from investing activities:    
Capital expenditures (45.2) (37.0)
Acquisitions, net of cash acquired 0.0 (11.4)
Dispositions, net of cash disposed 1.1 0.0
Purchases (3.2) (0.5)
Sales 0.3 0.5
Cash proceeds from sale of property and equipment 0.3 1.2
Net change in loans held for investment (10.5) (4.8)
Other (0.4) 0.0
Net cash used in investing activities (57.6) (52.0)
Cash flows from financing activities:    
Short-term borrowings 44.7 3.4
Long-term revolving credit facilities: Borrowings 1,961.1 1,288.7
Long-term revolving credit facilities: Repayments (2,044.1) (1,153.0)
Other long-term debt: Borrowings 0.3 3.9
Other long-term debt: Repayments (22.8) (30.6)
Cash paid for acquisition related settlements and obligations (5.1) 0.0
Repurchase shares of Brink's common stock (16.0) 0.0
Dividends to:    
Shareholders of Brink’s (9.3) (9.5)
Noncontrolling interests in subsidiaries (0.4) (1.2)
Tax withholdings associated with share-based compensation (6.6) (3.8)
Other 1.1 0.9
Net cash (used in) provided by financing activities (97.1) 98.8
Effect of exchange rate changes on cash 7.7 (11.0)
Cash, cash equivalents and restricted cash:    
Decrease (192.1) (40.5)
Balance at beginning of period 1,410.5 1,086.7
Balance at end of period $ 1,218.4 $ 1,046.2