Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 209

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 209
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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.

21

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. These services include:

Cash and Valuables Management

•Cash-in-transit ("CIT") services – armored vehicle transportation of cash and coin

•Basic ATM services – cash replenishment and treasury management of automated teller machines ("ATMs")

•Brink's Global Services ("BGS") – secure international transportation, pick-up, packaging, customs clearance, secure vault storage, and inventory management of high-value commodities and goods

•Cash management services – counting, sorting, wrapping, check imaging, cashier balancing, counterfeit detection, account consolidation and electronic reporting

•Vaulting