XML 25 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 52.2 $ 18.3
Adjustments to reconcile net income to net cash provided by operating activities:    
(Income) loss from discontinued operations, net of tax 0.0 (0.7)
Depreciation and amortization 72.4 67.6
Share-based compensation expense 9.3 10.9
Deferred income taxes 2.5 (0.2)
(Gain) loss on marketable securities and sale of property and equipment (2.2) 0.1
Loss on business dispositions 0.0 2.0
Impairment losses 0.5 3.7
Retirement benefit funding (more) less than expense:    
Pension (2.4) (2.3)
Other than pension (3.7) (5.6)
Remeasurement losses due to Argentina currency devaluation 0.0 9.8
Other operating 11.7 9.0
Changes in operating assets and liabilities, net of effects of acquisitions:    
(Increase) decrease in accounts receivable and income taxes receivable (73.6) (4.6)
Increase (decrease) in accounts payable, income taxes payable and accrued liabilities (44.1) (81.1)
Increase (decrease) in restricted cash held for customers 57.3 (43.7)
Increase (decrease) in customer obligations 24.0 (9.6)
Increase (decrease) in prepaid and other current assets (27.2) (21.8)
Other (12.8) 3.1
Net cash (used in) provided by operating activities 63.9 (45.1)
Cash flows from investing activities:    
Capital expenditures (52.2) (45.2)
Acquisitions, net of cash acquired 0.7 0.0
Dispositions, net of cash disposed 0.0 1.1
Purchases (0.3) (3.2)
Sales 0.8 0.3
Cash proceeds from sale of property, equipment and investments 3.5 0.3
Net change in loans held for investment 1.8 (10.5)
Other (0.1) (0.4)
Net cash used in investing activities (45.8) (57.6)
Cash flows from financing activities:    
Short-term borrowings 5.0 44.7
Long-term revolving credit facilities: Borrowings 2,536.9 1,961.1
Long-term revolving credit facilities: Repayments (2,470.8) (2,044.1)
Other long-term debt: Borrowings 4.3 0.3
Other long-term debt: Repayments (26.9) (22.8)
Acquisition of noncontrolling interest (0.2) 0.0
Cash paid for acquisition related settlements and obligations 0.0 (5.1)
Repurchase shares of Brink's common stock (23.0) (16.0)
Dividends to:    
Shareholders of Brink’s (9.8) (9.3)
Noncontrolling interests in subsidiaries 0.0 (0.4)
Tax withholdings associated with share-based compensation (16.8) (6.6)
Other 0.0 1.1
Net cash used in financing activities (1.3) (97.1)
Effect of exchange rate changes on cash (19.8) 7.7
Cash, cash equivalents and restricted cash:    
Increase (decrease) (3.0) (192.1)
Balance at beginning of period 1,683.6 1,410.5
Balance at end of period $ 1,680.6 $ 1,218.4