Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 25.5
|
$ 40.5
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Income from discontinued operations, net of tax |
(0.2)
|
0.0
|
| Depreciation and amortization |
38.8
|
33.9
|
| Share-based compensation expense |
6.8
|
4.5
|
| Deferred income taxes |
(4.1)
|
(2.1)
|
| Gains on sale of property, equipment and marketable securities |
(0.5)
|
(0.2)
|
| Gain on business dispositions |
0.0
|
(0.8)
|
| Impairment losses |
1.8
|
0.4
|
| Retirement benefit funding (more) less than expense: |
|
|
| Pension |
2.8
|
5.2
|
| Other than pension |
5.2
|
3.3
|
| Remeasurement (gains) losses due to Venezuela currency devaluation |
(2.8)
|
0.3
|
| Other operating |
3.1
|
2.5
|
| Changes in operating assets and liabilities, net of effects of acquisitions: |
|
|
| Accounts receivable and income taxes receivable |
(32.7)
|
(37.8)
|
| Accounts payable, income taxes payable and accrued liabilities |
(13.6)
|
(12.6)
|
| Restricted cash held for customers |
44.0
|
12.5
|
| Customer obligations |
(0.5)
|
4.2
|
| Prepaid and other current assets |
(15.7)
|
(14.4)
|
| Other |
(1.1)
|
0.0
|
| Net cash provided by operating activities |
56.8
|
39.4
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(36.7)
|
(27.8)
|
| Acquisitions, net of cash acquired |
0.0
|
(14.2)
|
| Dispositions, net of cash disposed |
0.0
|
1.1
|
| Purchases |
(13.5)
|
(9.3)
|
| Sales |
0.5
|
0.4
|
| Cash proceeds from sale of property and equipment |
1.1
|
0.6
|
| Net cash used by investing activities |
(48.6)
|
(49.2)
|
| Cash flows from financing activities: |
|
|
| Short-term borrowings |
16.1
|
(11.3)
|
| Cash supply chain customer debt |
0.9
|
1.5
|
| Borrowings |
0.0
|
231.5
|
| Repayments |
0.0
|
(141.5)
|
| Borrowings |
1.6
|
0.0
|
| Repayments |
(13.3)
|
(14.6)
|
| Payment of acquisition-related obligation |
(0.1)
|
0.0
|
| Dividends to: |
|
|
| Shareholders of Brink’s |
(7.6)
|
(5.0)
|
| Noncontrolling interests in subsidiaries |
(0.7)
|
(0.2)
|
| Proceeds from exercise of stock options |
0.0
|
0.7
|
| Tax withholdings associated with share-based compensation |
(11.2)
|
(8.8)
|
| Other |
0.5
|
0.5
|
| Net cash (used) provided by financing activities |
(13.8)
|
52.8
|
| Effect of exchange rate changes on cash |
0.3
|
6.9
|
| Cash, cash equivalents and restricted cash: |
|
|
| Increase (decrease) |
(5.3)
|
49.9
|
| Balance at beginning of period |
726.9
|
239.0
|
| Balance at end of period |
$ 721.6
|
$ 288.9
|