BRINKS CO
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Financing Activities
| Years Ended December 31, · $ change | |||||
|---|---|---|---|---|---|
| (In millions) | 2023 | 2022 | 2021 | 2023 | 2022 |
| Cash flows from financing activities | |||||
| Borrowings and repayments: | |||||
| Short-term borrowings | $98.6 | 37.7 | (4.3) | $60.9 | 42.0 |
| Long-term revolving credit facilities, net | (8.1) | 226.0 | 548.7 | (234.1) | (322.7) |
| Other long-term debt, net | (71.7) | 102.9 | (133.0) | (174.6) | 235.9 |
| Borrowings (repayments) | 18.8 | 366.6 | 411.4 | (347.8) | (44.8) |
| Acquisition of noncontrolling interest | (0.6) | (7.8) | — | 7.2 | (7.8) |
| Debt financing costs | — | (5.6) | (0.8) | 5.6 | (4.8) |
| Repurchase shares of Brink's common stock | (169.9) | (52.2) | (200.0) | (117.7) | 147.8 |
| Dividends to: | |||||
| Shareholders of Brink’s | (39.6) | (37.6) | (37.2) | (2.0) | (0.4) |
| Noncontrolling interests in subsidiaries | (7.7) | (7.1) | (5.1) | (0.6) | (2.0) |
| Acquisition-related financing activities: | |||||
| Settlement of acquisition-related contingencies | — | — | 6.2 | — | (6.2) |
| Payment of acquisition-related obligation | (11.1) | (2.8) | (4.0) | (8.3) | 1.2 |
| Proceeds from exercise of stock options | — | — | 2.3 | — | (2.3) |
| Tax withholdings associated with share-based compensation | (8.0) | (12.2) | (5.5) | 4.2 | (6.7) |
| Other | 11.0 | 3.9 | 4.0 | 7.1 | (0.1) |
| Financing activities | $(207.1) | 245.2 | 171.3 | $(452.3) | 73.9 |
Cash flows from financing activities decreased by $452.3 million in 2023 compared to 2022 as we had net cash used in financing activities of $207.1 million in 2023 compared to net cash provided by financing activities of $245.2 million in 2022. The change was driven by a decrease in net borrowings compared to the prior year. Additionally, we used an additional $117.7 million to repurchase shares of common stock in the current year (we used $169.9 million in cash to repurchase shares of common stock in 2023, compared to $52.2 million in 2022).
Dividends
We paid dividends to Brink’s shareholders of $0.22 per share in each of the last three quarters, paid $0.20 per share in the eight quarters prior, and $0.15 per share in the first quarter of 2021. 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.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.