Company: BCO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000078890-25-000253
Chunk: 48

Company: BRINKS CO
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 48
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 146.0  
  Decrease (increase) in restricted cash held for customers (see Note 12) (a)              (31.3)                    67.2      (98.5)  
  Increase in customer obligations (a)                                                     (24.0)                   (4.6)      (19.4)  
  Capital expenditures                                                                    (110.7)                 (108.9)       (1.8)  
  Cash proceeds from sale of property and equipment                                           9.8                     4.5         5.3  
  Proceeds from lessor debt financing (see Note 12)                                          12.0                     7.2         4.8  
  Free cash flow before dividends (a)                                                           $      (0.4)       (36.8)        36.4  

(a) Free cash flow before dividends is a supplemental financial measure that is not required by, or presented in accordance with, GAAP. See page 46 47

Cash flows from operating activities - GAAP

Cash flows from operating activities increased $146.0 million in the first six months of 2025 compared to the same period in 2024. The increase was primarily attributed to restricted cash held for customers (restricted cash held for customers increased by $31.3 million in 2025 compared to a decrease of $67.2 million in 2024) and changes in custom er obligations related to certain of our secure cash management services operations (certain customer obligations increased by $24.0 million in 2025 compared to an increase of $4.6 million in 2024) as well as changes in working capital excluding taxes and interes t (working capital decreased by $133.8 million in 2025 compared to a decrease of $161.3 million in 2024)

Free cash flow before dividends - non-GAAP

Free cash flow before dividends increased $36.4 million in the first six months of 2025 as compared to the same period in 2024. The increase was mostly attributed to changes in working capital excluding taxes and interest, and higher amounts of cash proceeds from sale of property and equipment (we had $9.8 million in cash proceeds in 2025 compared to $4.5 million in 2024) and cash proceeds from lessor debt financing (we had $12.0 million in cash proceeds in 2025 compared to $7.2 million in 2024).

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