Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 27

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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, is treated as investing cash flows.

Restricted Cash (Cash Supply Chain Services)

In France, we offer services to certain of our customers where we manage some or all of their cash supply chains. Providing this service requires our French subsidiary to take temporary title to the cash received from the management of our customers' cash supply chains until the cash is returned to the customers. The cash for which we have temporary title is restricted and cannot be used for any other purpose other than to service our customers who participate in this service offering.

In Malaysia, we offer ATM replenishment services to certain of our financial institution customers. Providing this service requires our Malaysia subsidiary to take temporary title to the cash received in advance of ATM replenishment. The cash for which we have temporary title is restricted and cannot be used for any other purpose other than to service our customers who participate in this service offering.

In accordance with a revolving credit facility, we are required to maintain a restricted cash reserve of $ 44.2 44.0

At March 31, 2025, we held $ 414.1 194.1 173.9 445.1 232.7 166.5

Lessor Debt Financing

In certain leasing transactions, we acquire assets through capital expenditures that are then sold to lessors in which the cash received is classified as borrowings from financing activities rather than proceeds from investing activities. Cash inflows related to these transactions totaled $ 8.1 4.1

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows.

                                                                                                                 March 31,                   December 31,               
  (In millions)                                                                                                  2025                                2024               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash and cash equivalents                                                                                      $              1,226.2                        1,395.3  
  Restricted cash                                                                                                414.1                              445.1               
  Total, cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows      $              1,640.3                        1,840.4  

Note 13 - Contingent matters

In August 2020, the Company received a subpoena issued in connection with an investigation being conducted by the U. S. Department of Justice (the “ DOJ”), primarily related