Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 47

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 47
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 reflective of the Company's operations and revenue generating activities in the periods recorded. Additionally, given the unusual nature of the events that led to the charge (i.e. the COVID-19 pandemic), a similar charge is not reasonably likely to recur within two years, nor were similar costs incurred within the prior two years. Management has excluded these amounts when evaluating internal performance. Therefore, they have not been allocated to segment or Corporate results and are excluded from non-GAAP results.

Reporting compliance We incurred certain compliance costs in 2023 to remediate a material weakness in internal controls over financial reporting. These third-party costs are not part of the Company's operations and revenue generating activities. Additionally, the nature of these amounts is such that they are not reasonably likely to recur within two years, nor were similar costs incurred within the prior two years of the underlying event. Management has excluded these amounts when evaluating internal performance. Therefore, they have not been allocated to segment or Corporate results and are excluded from non-GAAP results.

29

Other Operating Income and Expense 

Amounts below represent consolidated other operating income and expense.

Years Ended December 31,% change(In millions, except for percentages)20242023202220242023Foreign currency items:     Transaction gains (losses)$16.5 (85.1)(68.7)fav24 Derivative instrument gains (losses)(11.0)21.3 42.0 unfav(49)Royalty income8.0 7.5 9.1 7 (18)Impairment losses(4.8)(10.3)(9.0)(53)14 Indemnification asset adjustments(2.4)(3.4)(7.8)(29)(56)Contingent consideration liability adjustments— 6.2 — (100)favGains on sale of property and other assets3.9 1.9 2.7 fav(30)Share in earnings of equity method affiliates3.0 2.8 2.1 7 33 Other5.5 4.9 4.3 12 14 Other operating income (expense)$18.7 (54.2)(25.3)favunfav

2024 versus 2023 

We reported other operating income of $18.7 million in 2024 versus other operating expense of $54.2 million in the prior year. The change was primarily due to net gains