Company: BCO
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001104659-25-026390
Chunk: 97

Company: BRINKS CO
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 97
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TABLE OF CONTENTS by the timing and nature of our acquisitions and dispositions, and many are inconsistent in amount and frequency. Management has excluded these amounts when evaluating internal performance. Therefore, we have not allocated these amounts to segment or Corporate results and have excluded these amounts from non-GAAP results. These items are described below: 2021 Acquisitions and Dispositions Items ■ Amortization expense for acquisition-related intangible assets was $47.7 million in 2021. ■ We incurred $10.5 million in integration costs, primarily related to G4S, in 2021. ■ Transaction costs related to business acquisitions were $6.5 million in 2021. ■ Restructuring costs related to acquisitions were $5.3 million in 2021. ■ Compensation expense related to the retention of key PAI employees was $1.8 million in 2021. 2020 Acquisitions and Dispositions Items ■ Amortization expense for acquisition-related intangible assets was $35.1 million in 2020. ■ We incurred $23.5 million in integration costs, primarily related to Dunbar and G4S, in 2020. ■ Transaction costs related to business acquisitions were $19.3 million in 2020. ■ Restructuring costs related to acquisitions were $4.7 million in 2020. Argentina highly inflationary impact. Beginning in the third quarter of 2018, we designated Argentina’s economy as highly inflationary for accounting purposes. As a result, Argentine peso-denominated monetary assets and liabilities are now remeasured at each balance sheet date to the currency exchange rate then in effect, with currency remeasurement gains and losses recognized in earnings. In addition, nonmonetary assets retain a higher historical basis when the currency is devalued. The higher historical basis results in incremental expense being recognized when the nonmonetary assets are consumed. In 2020, we recognized $10.7 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $7.7 million. In 2021, we recognized $11.9 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $9.0 million. These non-cash charges are not part of the Company’s operations and revenue generating activities. Management has excluded these amounts when evaluating internal performance. As such, they have not been allocated to segment or Corporate results and are excluded from non-GAAP results. Chile antitrust