Company: BCO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000078890-25-000312
Chunk: 12

Company: BRINKS CO
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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valued. The higher historical basis results in incremental expense being recognized when the nonmonetary assets are consumed.

Transformation initiatives During 2023, we initiated a multi-year program intended to accelerate growth and drive margin expansion through transformation of our business model. The program is designed to help us standardize our commercial and operational systems and processes, drive continuous improvement and achieve operational excellence. The transformation costs primarily include project management charges and third party professional services. These costs relate to a discrete program.

DOJ/FinCEN investigations In 2024, we recorded a charge for a probable loss in connection with U. S. Department of Justice ("DOJ") and U. S. Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") investigations. Additionally, we have incurred third-party costs, primarily legal costs associated with these matters, including upfront expenses that are directly attributable to establishing compliance programs. In the first quarter of 2025, we reached resolutions with both the DOJ and FinCEN.

Chile antitrust matter We have recorded charges for a contingent loss associated with an investigation initiated by the Chilean Fiscalía Nacional Económica or "FNE" (the Chilean antitrust agency). The investigation is related to potential anti-competitive practices among competitors in the cash logistics industry in Chile. Additionally, we have incurred third-party costs, primarily legal costs, associated with this matter. See Note 13 for details.

Non-routine auto loss matter In 2023, a Brink’s employee was involved in a motor vehicle accident with unique circumstances that resulted

in the death of a third party. In connection with the ensuing litigation, Brink’s recognized a charge. Additionally, we have incurred third-party costs, primarily legal costs, associated with this matter.

                                                  Nine Months Ended September 30,                        
  (In millions)                                                              2025                  2024  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Capital Expenditures by Reportable Segment                                                             
  North America                                                                 $       55.1       41.2  
  Latin America                                                              18.7                  27.0  
  Europe                                                                     48.0                  60.5  
  Rest of World                                                              32.0                  27.1  
  Total reportable segments                                                 153.8                 155.8  
  Corporate items                                                             1.6                   4.1  
  Total                                                                         $      155.4      159.9  

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