|
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 74.1 |
$ 73.6 |
| Adjustments to reconcile net income to net cash provided (used) by operating activities: |
|
|
| (Income) loss from discontinued operations, net of tax |
0 |
(3.0) |
| Depreciation and amortization |
126.0 |
120.5 |
| Share-based compensation expense |
7.1 |
5.3 |
| Deferred income taxes |
(44.0) |
(29.4) |
| Sales of available-for-sale securities |
(2.8) |
(4.4) |
| Sales of property and other assets |
(7.7) |
(1.2) |
| Business acquisitions and dispositions |
(0.8) |
(9.2) |
| Asset impairment charges |
6.9 |
0.8 |
| Retirement benefit funding (more) less than expense: |
|
|
| Pension |
(10.3) |
6.6 |
| Other than pension |
17.0 |
8.4 |
| Other operating |
12.3 |
8.8 |
| Changes in operating assets and liabilities, net of effects of acquisitions: |
|
|
| Accounts receivable |
(92.7) |
(25.7) |
| Accounts payable, income taxes payable and accrued liabilities |
53.5 |
38.2 |
| Prepaid and other current assets |
(11.5) |
(24.1) |
| Other |
2.2 |
3.4 |
| Discontinued operations |
0 |
1.4 |
| Net cash provided by operating activities |
129.3 |
170.0 |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(120.6) |
(118.7) |
| Acquisitions |
(17.1) |
(3.0) |
| Available-for-sale secuirties: |
|
|
| Purchases |
0 |
(0.5) |
| Sales |
15.0 |
12.6 |
| Cash proceeds from sale of property, equipment and investments |
12.1 |
12.8 |
| Cash settlements of foreign currency derivatives |
0.6 |
0.1 |
| Redemption of cash-surrender value of life insurance policies |
6.2 |
0 |
| Other |
4.2 |
0 |
| Net cash used by investing activities |
(99.6) |
(96.7) |
| Cash flows from financing activities: |
|
|
| Short-term debt |
6.1 |
(14.8) |
| Long-term revolving credit facilities |
26.5 |
(101.5) |
| Issuance of private placement notes |
0 |
100.0 |
| Borrowings |
9.7 |
0 |
| Repayments |
(22.2) |
(21.3) |
| Cash proceeds from sale-leaseback transactions |
0 |
14.7 |
| Acquisition of noncontrolling interests in subsidiaries |
(5.9) |
0 |
| Debt financing costs |
(1.5) |
(0.7) |
| Dividends to: |
|
|
| Shareholders of Brink's |
(14.2) |
(14.0) |
| Noncontrolling interests in subsidiaries |
(5.9) |
(15.4) |
| Proceeds from exercise of stock options |
0.3 |
5.1 |
| Excess tax benefits associated with share-based compensation |
0 |
1.1 |
| Minimum tax withholdings associated with share-based compensation |
(5.6) |
(2.5) |
| Net cash used by financing activities |
(12.7) |
(49.3) |
| Effect of exchange rate changes on cash |
2.8 |
(6.5) |
| Cash and cash equivalents: |
|
|
| Increase (decrease) |
19.8 |
17.5 |
| Balance at beginning of period |
182.9 |
183.0 |
| Balance at end of period |
$ 202.7 |
$ 200.5 |