Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 219

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 219
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 amounts to segment or Corporate results and have excluded these amounts from non-GAAP results.

These items are described below:

2024 Acquisitions and Dispositions Items

•Amortization expense for acquisition-related intangible assets was $58.3 million in 2024.

•Net charges of $2.4 million were incurred for post-acquisition adjustments to indemnification assets related to previous business acquisitions.

•We incurred $1.1 million in integration costs in 2024. 

•A net credit of $1.3 million related to the reversal of a retention liability for key PAI employees was recorded in 2024.

27

2023 Acquisitions and Dispositions Items

•Amortization expense for acquisition-related intangible assets was $57.8 million in 2023.

•We derecognized a contingent consideration liability related to the NoteMachine business acquisition and recognized a gain of $4.8 million. We also derecognized a contingent consideration liability related to the Touchpoint 21 acquisition and recognized a gain of $1.4 million.

•We recognized $4.9 million in charges in Argentina in 2023 for an inflation-adjusted labor increase to expected payments to union workers of the Maco Transportadora and Maco Litoral businesses (together, "Maco").

•Net charges of $3.4 million were incurred for post-acquisition adjustments to indemnification assets related to previous business acquisitions.

•We incurred $2.2 million in integration costs, primarily related to PAI, in 2023. 

•Transaction costs related to business acquisitions were $4.2 million in 2023.

•We recognized a $2.0 million loss on the disposition of Russia-based operations in 2023.

•Compensation expense related to the retention of key PAI employees was $1.6 million in 2023.

2022 Acquisitions and Dispositions Items

•Amortization expense for acquisition-related intangible assets was $52.0 million in 2022.

•We recognized $12.5 million in charges in Argentina in 2022 for expected payments to union workers of the Maco businesses.

•Net charges of $7.8 million were incurred for post-acquisition adjustments to indemnification assets related to previous business acquisitions.

•We incurred $4.8 million in integration costs, primarily related to PAI and G4S, in 2022.

•Transaction costs related to business acquisitions were