Supplemental cash flow information

3 Months Ended

Mar. 31, 2024

Supplemental Cash Flow Information [Abstract]


	Three Months Ended March 31,
(In millions)	2024		2023
Cash paid for:
Interest	$	68.0	59.1
Income taxes, net	28.2		23.3

Non-cash Investing and Financing Activities

We acquired $19.5 million in armored vehicles and other equipment under financing lease arrangements in the first three months of 2024 compared to $20.7 million in armored vehicles and other equipment acquired under financing lease arrangements in the first three months of 2023.

Loans Held for Investment

In France, as part of an ATM managed services contract for a large customer, we purchase the ATMs at the beginning of the contract. However, since these ATMs are specifically for the benefit of the customer and transfer back to the customer at the end of the contract, this is recorded as a financing transaction. As a result, the loan to the customer, net of payments received, is treated as investing cash flows.

Restricted Cash (Cash Supply Chain Services)

In France, we offer services to certain of our customers where we manage some or all of their cash supply chains. Providing this service requires our French subsidiary to take temporary title to the cash received from the management of our customers' cash supply chains until the cash is returned to the customers. The cash for which we have temporary title is restricted and cannot be used for any other purpose other than to service our customers who participate in this service offering.

In Malaysia, we offer ATM replenishment services to certain of our financial institution customers. Providing this service requires our Malaysia subsidiary to take temporary title to the cash received in advance of ATM replenishment. The cash for which we have temporary title is restricted and cannot be used for any other purpose other than to service our customers who participate in this service offering.

In accordance with a revolving credit facility, we are required to maintain a restricted cash reserve of $43.1 million ($40.9 million at December 31, 2023) and, due to this contractual restriction, we have classified these amounts as restricted cash.

At March 31, 2024, we held $557.9 million of restricted cash ($340.6 million represented restricted cash held for customers and $172.6 million represented accrued liabilities). At December 31, 2023, we held $507.0 million of restricted cash ($298.7 million represented restricted cash held for customers and $167.8 million represented accrued liabilities).

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows.


	March 31,		December 31,
(In millions)	2024		2023
Cash and cash equivalents	$	1,122.7	1,176.6
Restricted cash	557.9		507.0
Total, cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows	$	1,680.6	1,683.6