Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 213

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 213
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 rates ($96.5 million) primarily driven by the Argentine peso,

•higher costs in connection with the resolutions of DOJ/FinCEN investigations ($45.7 million),

•higher transformation initiative costs ($22.9 million), and

•higher corporate expenses on an organic basis ($12.4 million).

Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts  Income from continuing operations attributable to Brink’s shareholders increased $75.8 million to $161.8 million due to lower income tax expense ($46.5 million), higher interest and other nonoperating income ($34.3 million), and the increase in operating profit mentioned above, partially offset by higher interest expense ($31.6 million). Diluted earnings per share from continuing operations was $3.61, up from $1.83 in 2023.

23

Non-GAAP Basis

Analysis of Consolidated Results: 2024 versus 2023

Non-GAAP Financial Measures  The non-GAAP measures included in the table above and the analysis below present our operating profit, operating profit margin, income from continuing operations, adjusted EBITDA and earnings per share without certain income and expense items that do not reflect the regular earnings of the Company's operations. These non-GAAP measures are described in more detail on page 34 and are reconciled to comparable GAAP measures on pages 35-38.

Non-GAAP Consolidated Operating Profit and Non-GAAP Operating Profit Margin  Non-GAAP operating profit margin was 12.6%. Non-GAAP operating profit increased $14.4 million due mainly to:

•organic increases in Latin America ($149.0 million), Europe ($12.2 million), North America ($7.6 million), and Rest of World ($5.6 million) and

•the favorable operating impact of business acquisitions ($1.7 million), excluding intangible amortization and acquisition-related charges,

partially offset by:

•unfavorable changes in currency exchange rates ($149.3 million), driven primarily by the Argentine peso, and

•higher corporate expenses on an organic basis ($12.4 million).

Non-GAAP Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts  Non-GAAP income from continuing operations attributable to Brink’s shareholders decreased $23.2 million to $321.4 million due to higher interest expense ($32.4 million), lower interest and other nonoperating income ($20.6 million),