Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 217

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 217
---
.5)9 (5)Foreign currency transaction gains (losses)23.9 15.3 10.9 56 40 Reconciliation of segment policies to GAAP(0.1)(2.1)1.8 (95)unfavCorporate expenses$(143.4)(139.6)(148.8)3 (6)

Corporate expenses in 2024 increased by $3.8 million versus the prior year. This was primarily driven by higher net compensation costs, including share-based compensation and bonus accruals ($11.8 million), partially offset by higher foreign currency transaction gains ($8.6 million). 

Other Items Not Allocated to Segments

Years Ended December 31,% change(In millions, except for percentages)20242023202220242023Reorganization and restructuring$(1.5)(17.6)(38.8)(91)(55)Acquisitions and dispositions(62.5)(70.6)(86.6)(11)(18)Argentina highly inflationary impact(35.0)(86.8)(41.7)(60)unfavTransformation initiatives(28.4)(5.5)— unfavunfavDOJ/FinCEN investigations(45.7)— — unfav— Non-routine auto loss matter(2.0)(8.0)— (75)unfavChange in allowance estimate— — (15.6)— (100)Ship loss matter— — (4.9)— (100)Chile antitrust matter(1.3)(0.5)(1.4)unfav(64)Reporting compliance— (0.8)— (100)— Total Other items not allocated to segments$(176.4)(189.8)(189.0)(7)— 

26

Reorganization and restructuring 

Costs associated with certain reorganization and restructuring actions are excluded from reported non-GAAP results. These items primarily include severance charges and asset impairment losses. The 2022 Global Restructuring Plan was designed to, among other things, enable growth, reduce costs and related infrastructure, and to mitigate the potential impact of external economic conditions in light of the COVID-19 pandemic. Other restructuring actions were primarily in response to the COVID-19 pandemic and a decision to exit a line of business in our Canada operating unit. Due to the unusual nature of the underlying events that led to these actions, the charges are