Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 35

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 35
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 to growth in BGS revenue. Operating profit increased 22% ($9.0 million) primarily due to a 23% organic increase ($9.4 million). The organic increase was driven by higher revenue.

Analysis of Income and Expense Not Allocated to Segments

Income and expenses not allocated to segments are reported either as “ Corporate Expenses” or “ Other Items not Allocated to Segments.”

Corporate Expenses include costs to manage the global business and perform activities required by public companies as well as other items that are considered part of the Company's operations and revenue generating activities but are not considered when the chief operating decision maker ("CODM") evaluates segment results. Examples include corporate staff compensation, corporate headquarters costs, regional management costs, share-based compensation, and currency transaction gains and losses.

Other Items not Allocated to Segments include income and expenses that are not necessary to operate our business in the ordinary course and are not considered when the CODM evaluates segment results. These include non-recurring as well as certain recurring costs and gains which are not considered to be part of the Company's operations and revenue generating activities. Each of the items in the “ Other Items Not Allocated to Segments” table is excluded from non-GAAP operating profit.

Corporate Expenses

                                                                             %              
  (In millions, except for percentages)           2025                    2024      change  
 ────────────────────────────────────────────────────────────────────────────────────────────
  General, administrative and other expenses      $         (35.0)      (41.2)        (15)  
  Foreign currency transaction gains              3.2                      6.3        (49)  
  Reconciliation of segment policies to GAAP      0.1                      1.5        (93)  
  Corporate expenses                              $         (31.7)      (33.4)         (5)  

Corporate expenses for the first three months of 2025 decreased $1.7 million versus the prior year period. This was primarily driven by lower net compensation costs ($4.1 million) and lower professional and audit fees ($3.0 million), partially offset by a reduction in currency transaction gains ($3.1 million) and higher charges related to insurance and security losses ($2.7 million).

Other Items Not Allocated to Segments

                                                                                %              
  (In millions, except for percentages)              2025                    2024      change  
 ───────────────────────────────────────────────────────────────────────────────────────────────