Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 242

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 242
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3 $399.7 542.1 (142.4) Term Loans— 1,292.2 1,343.5 (51.3)Senior Unsecured Notes— 1,387.8 994.4 393.4 Letter of Credit Facilities41.0 — — — Other facilities178.4 432.1 265.8 166.3 Financing leases— 235.1 233.8 1.3 Total Long-term debt$819.7 $3,746.9 3,379.6 $367.3 Total Debt$894.9 $3,896.2 3,531.3 $364.9 Total equity$312.5 520.2 $(207.7)

(a)In addition to cash borrowings and repayments, the change in the debt balance also includes changes in currency exchange rates. 

Reconciliation of Net Debt to U.S. GAAP Measures

December 31, (In millions)20242023$ changeDebt:Short-term borrowings$149.3 151.7 $(2.4)Long-term debt3,746.9 3,379.6 367.3 Total Debt3,896.2 3,531.3 364.9 Less:Cash and cash equivalents1,395.3 1,176.6 218.7 Amounts held by cash management services operations(a)(81.3)(166.2)84.9 Cash and cash equivalents available for general corporate purposes1,314.0 1,010.4 303.6 Net Debt(a)$2,582.2 2,520.9 $61.3 

(a)Net Debt is a supplemental non-GAAP financial measure that is not required by or presented in accordance with GAAP. See page 34 for further information on this non-GAAP measure, and see page 35 for a description of the adjustment. Included within Net Debt is net cash from our Argentina operations of $104 million at December 31, 2024 and $63 million at December 31, 2023 (see Note 1 to the consolidated financial statements for a discussion of currency controls in Argentina).

Debt and Net Debt at the end of 2024 increased versus the prior year to provide funding for corporate purposes and other working capital needs.

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