Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 7

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 customers contain clauses that define the level of service that the customer will receive. The service level agreements (“ SLA”) within those contracts contain specific calculations to determine whether the appropriate level of service has been met within a specific period, which is typically a month. We estimate SLA penalties and recognize the amounts as a reduction to revenue.

Taxes collected from customers and remitted to governmental authorities are not included in revenues in the condensed consolidated statements of operations.

Revenue Disaggregated by Reportable Segment and Type of Service

(In millions) Cash and Valuables Management DRS and AMS Total
Three months ended March 31, 2025
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Reportable Segments:
North America $ 299.0 118.6 417.6
Latin America 251.2 56.4 307.6
Europe 172.7 126.4 299.1
Rest of World 201.1 21.3 222.4
Total reportable segments $ 924.0 322.7
Three months ended March 31, 2024
Reportable Segments:
North America $ 304.6 100.9 405.5
Latin America 282.6 52.1 334.7
Europe 186.2 105.2 291.4
Rest of World 187.9 16.6 204.5
Total reportable segments $ 961.3 274.8 1236.1

Certain of our services involve the leasing of assets, such as safes, to our customers along with the regular servicing of those safe devices. Revenues related to the leasing of these assets are recognized in accordance with applicable lease guidance, but are included in the above table as the amounts are a small percentage of overall revenues.

Contract Balances

Contract Assets

Although payment terms and conditions can vary, for the majority of our customer contracts, we invoice for all of the services provided to the customer within a monthly period. For certain customer contracts, the timing of our performance may precede our right to invoice the customer for the total transaction price. For example, Brink's affiliates in certain countries, primarily in Latin America, negotiate annual price adjustments with certain customers and, once the price increases are finalized, the pricing changes are made retroactive to services provided in earlier periods. These retroactive pricing adjustments are estimated and recognized as revenue with a corresponding contract asset in the