Company: ABM
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000771497-25-000022
Chunk: 13

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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09%. At July 31, 2025, we had up to $621.7 million of borrowing capacity.

Reinvestment of Foreign Earnings

We plan to reinvest our foreign earnings to fund future non-U. S. growth and expansion, and we do not anticipate remitting such earnings to the United States.

IFM Insurance Company

IFM Assurance Company (“ IFM”) is a wholly owned captive insurance company that we formed in 2015. IFM is part of our enterprise-wide, multiyear insurance strategy that is intended to better position our risk and safety programs and provide us with increased flexibility in the end-to-end management of our insurance programs. IFM began providing coverage to us as of January 1, 2015.

Share Repurchases

We repurchased shares under the share repurchase program during the three and nine months ended July 31, 2025, as summarized below. Share repurchases may take place on the open market or otherwise, and all or part of the repurchases may be made pursuant to Rule 10b5-1 plans or in privately negotiated transactions. The timing of repurchases is at our discretion and will depend upon several factors, including market and business conditions, future cash flows, share price, share availability, and other factors. Repurchased shares are retired and returned to an authorized but unissued status. The share repurchase program may be suspended or discontinued at

any time without prior notice. At July 31, 2025, authorization for $106.1 million of repurchases remained under our share repurchase program.

  (in millions, except per share amounts)        Three Months Ended                 Nine Months Ended July 31, 2025             
                                                 July 31, 2025                                                                  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total number of shares purchased               0.56                               0.97                                        
  Average price paid per share (1)               $                       48.77      $                                    49.82  
  Total cash paid for share repurchases (1)      $                        27.1      $                                     48.3  

(1) Average price paid per share and total cash paid for share repurchases does not include any excise tax for share repurchases as part of the Inflation Reduction Act of 2022.

Cash Flows

In addition to revenues and operating profit, our management views operating cash flows as a good indicator of financial performance, because strong