Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 230

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 230
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 short period of time. The cash is generally credited to customers’ accounts the following day and is thus not available for general corporate purposes. Because the cash is not available to support our operations and revenue generating activities, management excludes the changes in this specific cash balance when assessing cash flows from operations. We believe that the exclusion of the change in this cash balance from our non-GAAP operating cash flows measure is helpful to the users of our financial statements as it presents this financial measure consistent with how our management assesses this liquidity measure.

Amounts held by cash management services operations  As described above, cash held in certain of our secure cash management services operations is not available to support our operations and revenue generating activities. Therefore, management excludes this specific cash balance when assessing our liquidity and capital resources, and in our computation of Net Debt. We believe that the exclusion of this cash balance from our non-GAAP Net Debt measure is helpful to the users of our financial statements as it presents this financial measure consistent with how our management assesses this liquidity measure.

35

Non-GAAP Reconciled to GAAP

202420232022(In millions, except for percentages)Pre-tax income(a)Income taxEffective income tax rate(a)Pre-tax income(a)Income taxEffective income tax rate(a)Pre-tax income(a)Income taxEffective income tax rate(a)GAAP$266.3 92.7 34.8 %$235.8 139.2 59.0 %$226.2 41.4 18.3 %Reorganization and restructuring(c)1.5 0.2 17.6 3.4 38.8 8.2 Acquisitions and dispositions(c)62.1 5.2 72.6 8.9 85.2 20.7 Argentina highly inflationary impact(c)36.3 (5.1)142.0 (4.5)45.6 (2.0)Transformation initiatives(c)28.4 0.7 5.5 0.1 — — DOJ/FinCEN investigations(c)45.7 — — — — — Chile antitrust matter(c)1.3 0.3 0.5 0.1 1.4 0.5 Non-routine auto loss matter(c)2.0 — 8.0 0.2 — —