Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions |
9 Months Ended |
Sep. 30, 2018 |
Sep. 30, 2017 |
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ (63.3)
|
$ 75.1
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
| (Income) loss from discontinued operations, net of tax |
0.0
|
0.1
|
| Depreciation and amortization |
119.5
|
106.4
|
| Share-based compensation expense |
18.8
|
12.5
|
| Deferred income taxes |
(18.2)
|
(18.0)
|
| Prepayment penalties |
0.0
|
6.5
|
| Gains on sale of property, equipment and marketable securities |
(4.2)
|
(2.0)
|
| Gain on business dispositions |
(10.1)
|
(0.6)
|
| Loss on deconsolidation of Venezuela operations |
126.7
|
0.0
|
| Impairment losses |
4.3
|
2.6
|
| Retirement benefit funding (more) less than expense: |
|
|
| Pension |
6.8
|
12.8
|
| Other than pension |
13.6
|
13.1
|
| Remeasurement (gains) losses due to Argentina and Venezuela currency devaluations |
5.9
|
9.1
|
| Other operating |
6.6
|
3.8
|
| Changes in operating assets and liabilities, net of effects of acquisitions: |
|
|
| Accounts receivable and income taxes receivable |
(80.0)
|
(98.6)
|
| Accounts payable, income taxes payable and accrued liabilities |
53.2
|
58.5
|
| Restricted cash held for customers |
(0.7)
|
20.8
|
| Customer obligations |
(4.9)
|
9.8
|
| Prepaid and other current assets |
(20.6)
|
(80.5)
|
| Other |
(4.8)
|
5.6
|
| Net cash provided by operating activities |
148.6
|
137.0
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(104.0)
|
(117.4)
|
| Acquisitions, net of cash acquired |
(521.0)
|
(147.7)
|
| Dispositions, net of cash disposed |
8.4
|
0.0
|
| Purchases |
(55.9)
|
(35.0)
|
| Sales |
47.3
|
21.2
|
| Cash proceeds from sale of property and equipment |
2.8
|
1.4
|
| Other |
(0.9)
|
1.1
|
| Net cash used by investing activities |
(623.3)
|
(276.4)
|
| Cash flows from financing activities: |
|
|
| Short-term borrowings |
(5.2)
|
(25.6)
|
| Cash supply chain customer debt |
(15.0)
|
(0.3)
|
| Borrowings |
350.4
|
799.2
|
| Repayments |
(44.2)
|
(411.2)
|
| Borrowings |
1.2
|
6.8
|
| Repayments |
(40.9)
|
(107.4)
|
| Prepayment penalty |
0.0
|
(6.5)
|
| Payment of acquisition-related obligation |
(0.3)
|
0.0
|
| Repurchase shares of Brink's common stock |
(25.1)
|
0.0
|
| Dividends to: |
|
|
| Shareholders of Brink’s |
(22.9)
|
(20.1)
|
| Noncontrolling interests in subsidiaries |
(3.8)
|
(3.5)
|
| Proceeds from exercise of stock options |
0.8
|
2.7
|
| Tax withholdings associated with share-based compensation |
(11.3)
|
(10.0)
|
| Other |
0.6
|
1.0
|
| Net cash (used) provided by financing activities |
184.3
|
225.1
|
| Effect of exchange rate changes on cash |
(29.6)
|
2.8
|
| Cash, cash equivalents and restricted cash: |
|
|
| Increase (decrease) |
(320.0)
|
88.5
|
| Balance at beginning of period |
726.9
|
239.0
|
| Balance at end of period |
$ 406.9
|
$ 327.5
|