Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 110

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 110
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 value of each index set to $100 on December 31, 2019. Total return assumes reinvestment of dividends. In 2024, we removed Stericycle, Inc. from our custom peer group because it was acquired by Waste Management, Inc. during the year. We chose the S&P Midcap 400 Index and our custom peer group as we are included in the S&P Midcap 400 Index, and we believe the custom peer group has more similar characteristics to our company for the factors noted above.

ITEM 6. RESERVED

Not Applicable

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

THE BRINK’S COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS

AS OF DECEMBER 31, 2024 AND 2023 

AND FOR EACH OF THE YEARS IN THE THREE-YEAR PERIOD ENDED DECEMBER 31, 2024

TABLE OF CONTENTS

 PageOPERATIONS22   RESULTS OF OPERATIONS  Analysis of Results23 Analysis of Income and Expense Not Allocated to Segments26 Other Operating Income and Expense30 Nonoperating Income and Expense31 Income Taxes32 Noncontrolling Interests33 Non-GAAP Results Reconciled to GAAP34 Foreign Operations39   LIQUIDITY AND CAPITAL RESOURCES  Overview40 Operating Activities40 Investing Activities41 Financing Activities42 Effect of Exchange Rate Changes on Cash and Cash Equivalents43 Capitalization44 Off Balance Sheet Arrangements46 U.S Retirement Liabilities47 Contingent Matters49   APPLICATION OF CRITICAL ACCOUNTING POLICIES  Deferred Tax Asset Valuation Allowance50Business Acquisitions51 Goodwill, Other Intangible Assets and Property and Equipment Valuations52 Retirement and Postemployment Benefit Obligations53 Foreign Currency Translation57

The discussion of operating results and financial condition comparing 2023 versus 2022 can be found in Item 7. Management's Discussion and Analysis of Financial Conditions and Results of Operations of our Annual Report on Form 10-K for the year ended December 31, 2023 ("2023 10-K"), starting on page 22.

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OPERATIONS

The Brink’s Company is a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services throughout the world