Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 48

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 48
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0.2)        (6.4)  
  Debt financing costs                                                     (0.8)                        —        (0.8)  
  Repurchase shares of Brink's common stock                               (44.8)                   (23.0)       (21.8)  
  Dividends to:                                                                                                         
  Shareholders of Brink’s                                                 (10.4)                    (9.8)        (0.6)  
  Noncontrolling interests in subsidiaries                                 (0.4)                        —        (0.4)  
  Tax withholdings associated with share-based compensation               (17.3)                   (16.8)        (0.5)  
  Financing activities                                                         $      (124.1)       (1.3)      (122.8)  

Debt borrowings and repayments

Cash used in financing activities increased by $122.8 million year over year as we had net cash used in financing activities of $124.1 million in the first three months of 2025 compared to net cash used in financing activities of $1.3 million in the first three months of 2024. The change was driven primarily by a decrease in net borrowings (as discussed in Note 8) compared to the prior year three month period, and an increase in cash used to repurchase shares of common stock (we used $44.8 million to repurchase shares in 2025 as compared to $23.0 million in 2024).

Dividends

We paid dividends to Brink’s shareholders of $0.2425 per share or $10.4 million in the first three months of 2025 compared to $0.2200 per share or $9.8 million in the first three months of 2024. On May 7, 2025, the Board declared a regular quarterly dividend of 25.50 cents per share payable on June 2, 2025 to shareholders of record on May 19, 2025. Future dividends are dependent on our earnings, financial condition, shareholders’ equity levels, our cash flow and business requirements, as determined by the Board of Directors.

Capitalization

Reconciliation of Net Debt to U. S. GAAP Measures

                                                                          March 31,                   December 31,               
  (In millions)                                                           2025                                2024               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Debt: