Company: BCO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000078890-25-000312
Chunk: 14

Company: BRINKS CO
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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           —      ( 7.6)      ( 6.8)  
  Net periodic postretirement cost (credit)                            $               ( 6.2)      ( 5.6)                             5.8         6.9      ( 0.4)         1.3  

The components of net periodic postretirement cost (credit) other than the service cost component are included in interest and other nonoperating income (expense) in the condensed consolidated statements of operations.

Note 5 - Income taxes

                                                    Three Months Ended September 30,                          Nine Months Ended September 30,                      
  (In millions, except for effective tax rate)      2025                                            2024      2025                                           2024  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Continuing operations                                                                                                                                            
  Provision for income taxes                        $                                     53.0      27.2      $                                    95.8      75.5  
  Effective tax rate                                58.6                                            46.0      40.8                                           36.0  

2025 Effective Income Tax Rate Compared to U. S. Statutory Rate

On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was enacted in the U. S. The OBBBA includes modifications to the U. S. taxation of worldwide income and the deductibility of interest expense, among other tax changes. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. As a result of the enactment of the OBBBA, we recorded a tax expense of $ 18.7

The effective income tax rate on continuing operations in the first nine months of 2025 was greater than the 21% U. S. statutory rate due to the geographical mix of earnings, the seasonality of book losses for which no tax benefit can be recorded, nondeductible expenses in Mexico, taxes on cross border payments, the tax expense recorded related to the enactment of OBBBA and U. S. taxable income and credit limitations.

2024 Effective Income Tax Rate Compared to U. S. Statutory Rate

The effective income tax rate on continuing operations in the first nine months of 2024 was greater than the 21% U. S. statutory rate due to the geographical mix of earnings, the seasonality of book losses