Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 13

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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8)  
  Net periodic postretirement cost (credit)                                     $      ( 1.4)      2.0                              2.5      ( 0.4)         1.1  

The components of net periodic postretirement cost (credit) other than the service cost component are included in interest and other nonoperating income (expense) in the condensed consolidated statements of operations.

Note 5 - Income taxes

                                                    Three Months Ended March 31,                                
  (In millions, except for effective tax rate)                                        2025                2024  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Continuing operations                                                                                         
  Provision for income taxes                                                          $         15.6      26.2  
  Effective tax rate                                                                  22.4                33.4  

2025 Effective Income Tax Rate Compared to U. S. Statutory Rate

The effective income tax rate on continuing operations in the first three months of 2025 was greater than the 21% U. S. statutory rate due to the geographical mix of earnings, the seasonality of book losses for which no tax benefit can be recorded, nondeductible expenses in Mexico, taxes on cross border payments and U. S. taxable income and credit limitations.

2024 Effective Income Tax Rate Compared to U. S. Statutory Rate

The effective income tax rate on continuing operations in the first three months of 2024 was greater than the 21% U. S. statutory rate due to the geographical mix of earnings, the seasonality of book losses for which no tax benefit can be recorded, nondeductible expenses in Mexico, taxes on cross border payments and U. S. taxable income and credit limitations.

Note 6 - Accumulated other comprehensive income (loss)

Other comprehensive income (loss), including the amounts reclassified from accumulated other comprehensive income (loss) into earnings, was as follows:

                                                           Amounts Arising During                              Amounts Reclassified to                                 
  (In millions)                                                            Pretax                  Income      Pretax                       Income        Total Other  
  Three months ended March 31, 2025                                                                                                                                    
  Amounts attributable to Brink's:                                                                                                                                     
  Benefit plan adjustments                                                      $      ( 3.4)         0.9      1.2                          ( 0.3)             ( 1.6)  
  Foreign currency translation adjustments (b)                               38.7                     2.