|
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2013
|
Sep. 30, 2012
|
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ 31.1 |
$ 74.1 |
| Adjustments to reconcile net income to net cash provided (used) by operating activities: |
|
|
| Loss from discontinued operations, net of tax |
31.9 |
17.6 |
| Depreciation and amortization |
132.6 |
121.4 |
| Share-based compensation expense |
7.5 |
7.1 |
| Deferred income taxes |
(26.8) |
(43.7) |
| Sales of available-for-sale securities |
(0.3) |
(2.6) |
| Sales of property and other assets |
(0.7) |
(7.7) |
| Business acquisitions and dispositions |
(2.0) |
(0.8) |
| Impairment losses |
0 |
2.6 |
| Retirement benefit funding (more) less than expense: |
|
|
| Pension |
15.3 |
(10.3) |
| Other than pension |
11.5 |
17.0 |
| Loss on Venezuela currency devaluation |
13.4 |
0 |
| Other operating |
2.8 |
10.9 |
| Changes in operating assets and liabilities, net of effects of acquisitions: |
|
|
| Accounts receivable |
(101.1) |
(91.3) |
| Accounts payable, income taxes payable and accrued liabilities |
37.8 |
60.4 |
| Customer obligations |
(4.4) |
0.2 |
| Prepaid and other current assets |
(18.1) |
(10.8) |
| Other |
(15.2) |
2.9 |
| Discontinued operations |
(10.9) |
(17.7) |
| Net cash provided (used) by operating activities |
104.4 |
129.3 |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(124.3) |
(117.3) |
| Acquisitions |
(18.1) |
(16.8) |
| Available-for-sale secuirties: |
|
|
| Sales |
9.2 |
15.0 |
| Cash proceeds from sale of property, equipment and investments |
2.8 |
12.1 |
| Redemption of cash-surrender value of life insurance policies |
0 |
6.2 |
| Other |
(0.5) |
4.8 |
| Discontinued operations |
(0.7) |
(3.6) |
| Net cash used by investing activities |
(131.6) |
(99.6) |
| Cash flows from financing activities: |
|
|
| Short-term debt |
55.3 |
6.2 |
| Long-term revolving credit facilities |
97.7 |
24.2 |
| Borrowings |
4.5 |
9.7 |
| Repayments |
(20.9) |
(22.2) |
| Acquisition of noncontrolling interests in subsidiaries |
(18.5) |
(5.9) |
| Payment of acquisition-related obligation |
(12.8) |
0 |
| Debt financing costs |
0 |
(1.5) |
| Dividends to: |
|
|
| Shareholders of Brink's |
(14.4) |
(14.2) |
| Noncontrolling interests in subsidiaries |
(4.2) |
(5.9) |
| Proceeds from exercise of stock options |
3.0 |
0.3 |
| Minimum tax withholdings associated with share-based compensation |
(3.3) |
(5.6) |
| Other |
(0.6) |
0 |
| Discontinued operations |
(2.7) |
2.2 |
| Net cash provided (used) by financing activities |
83.1 |
(12.7) |
| Effect of exchange rate changes on cash |
(15.3) |
2.8 |
| Cash and cash equivalents: |
|
|
| Increase (decrease) |
40.6 |
19.8 |
| Balance at beginning of period |
201.7 |
182.9 |
| Balance at end of period |
$ 242.3 |
$ 202.7 |