Company: BCO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000078890-25-000312
Chunk: 50

Company: BRINKS CO
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 50
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5 as compared to the first nine months of 2024. Cash used for investing activities increased by $18.2 million in the first nine months of 2025 compared to the first nine months of 2024. We financed our liquidity needs in the first nine months of 2025 with existing cash from operations.

Operating Activities

                                                                                Nine Months                                   $  
                                                                        Ended September 30,                                      
  (In millions)                                                                        2025                    2024      change  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash flows provided from (used in) operating activities - GAAP                          $      265.9         56.2       209.7  
  Decrease in restricted cash held for customers (see Note 12) (a)                     31.9                   100.6      (68.7)  
  Decrease (increase) in customer obligations (a)                                    (11.8)                    69.7      (81.5)  
  Capital expenditures                                                              (155.4)                 (159.9)         4.5  
  Cash proceeds from sale of property and equipment                                    21.8                    12.0         9.8  
  Proceeds from lessor debt financing (see Note 12)                                    21.9                    19.4         2.5  
  Free cash flow before dividends (a)                                                     $      174.3         98.0        76.3  

(a) Free cash flow before dividends is a supplemental financial measure that is not required by, or presented in accordance with, GAAP. See page 47 48

Cash flows from operating activities - GAAP

Cash flows from operating activities increased $209.7 million in the first nine months of 2025 compared to the same period in 2024. The increase was primarily attributed to restricted cash held for customers (restricted cash held for customers decreased by $31.9 million in 2025 compared to a decrease of $100.6 million in 2024) and changes in custom er obligations related to certain of our secure cash management services operations (certain customer obligations increased by $11.8 million in 2025 compared to a decrease of $69.7 million in 2024) as well as higher operating profit, partially offset by changes in working capital excluding taxes and interes t (working capital decreased by $111 million in 2025 compared