Selected Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2020

Selected Quarterly Financial Data (unaudited)


	2020 Quarters					2019 Quarters
(In millions, except for per share amounts)	1st		2nd	3rd	4th	1st		2nd	3rd	4th

Revenues	$	872.8	826.0	970.5	1,021.6	$	905.0	914.0	928.4	935.8
Operating profit	26.2		(1.0)	76.4	111.9	58.4		52.6	52.5	73.3
Amounts attributable to Brink’s:
Income (loss) from:
Continuing operations	$	1.8	13.7	(23.8)	25.1	$	13.7	12.6	5.8	(3.8)
Discontinued operations	—		(0.8)	(0.1)	0.1	—		(0.1)	(0.4)	1.2
Net income (loss) attributable to Brink’s	$	1.8	12.9	(23.9)	25.2	$	13.7	12.5	5.4	(2.6)

Depreciation and amortization	$	45.0	52.1	55.1	54.6	$	47.9	48.7	42.9	45.5
Capital expenditures	30.2		23.7	25.2	39.4	35.2		37.9	42.9	48.8

Earnings (loss) per share attributable to Brink’s common shareholders:
Basic
Continuing operations	$	0.04	0.27	(0.47)	0.51	$	0.27	0.25	0.11	(0.08)
Discontinued operations	—		(0.02)	—	—	—		—	(0.01)	0.02
Net income (loss)	$	0.03	0.25	(0.48)	0.51	$	0.27	0.25	0.11	(0.05)

Diluted
Continuing operations	$	0.03	0.27	(0.47)	0.50	$	0.27	0.25	0.11	(0.08)
Discontinued operations	—		(0.01)	—	—	—		—	(0.01)	0.02
Net income (loss)	$	0.03	0.25	(0.48)	0.50	$	0.27	0.25	0.10	(0.05)

Earnings per share. Earnings per share amounts for each quarter are required to be computed independently. As a result, their sum may not equal the annual earnings per share.

Significant pretax items in a quarter.

2020

First quarter of 2020 We recognized $7.7 million of pretax losses on foreign currency forward contracts related to acquisition of business operations from G4S. We also recognized a $4.7 million pretax gain on the sale of a French security services business (adjusted down by $0.2 million in the fourth quarter).

Second quarter of 2020 We recognized $39.0 million in pretax charges related to restructuring actions, primarily severance costs. We also recognized a $5.8 million pretax gain related to the market value increase of our investment in MoneyGram International, Inc.

Third quarter of 2020 We recognized a $10.4 million pretax loss when we elected to use other market mechanisms to convert Argentine pesos into U.S. dollars at rates that were less favorable than the rates at which we remeasured the financial statements of Brink’s Argentina.

Fourth quarter of 2020 We recognized $16.9 million in pretax charges related to restructuring actions, primarily severance costs. We also recognized a $8.1 million pretax gain related to the market value increase of our investment in MoneyGram International, Inc.

2019

Second quarter of 2019 We recognized a $6.9 million pretax charge related to the modification of share-based awards granted to a former senior executive. We also recognized a $5.2 million pretax gain on the termination of a mining lease obligation.

Third quarter of 2019 We completed the rebuild of an accounts receivable subledger in our U.S. global services business in the third quarter of 2019. As a result, we identified $4.0 million of revenues billed and collected in prior periods, which had never been recorded in the general ledger. We also identified and recorded $0.3 million in bank fees, which had been incurred in prior periods. Finally, based on the reconstructed subledger, we estimated an increase to bad debt expense of $13.7 million. The net impact of these adjustments was a $10.0 million cumulative pretax accounting correction.

Fourth quarter of 2019 We recognized a pretax settlement charge of $19.3 million related to the October 2019 purchase of a single premium group annuity contract from an insurance company to provide for the payment of pension benefits to certain primary U.S. pension plan participants. We also recognized a pretax $8.2 million credit related to lower social taxes in Brazil, primarily from the recovery of overpayments.