3 unchanged sentences
Share Repurchase Program
−Removed: On October 27, 2021, we announced that the Board authorized a $250 million share repurchase program that expires on December 31, 2023 (the "2021 Repurchase Program").
−Removed: This authorization replaces our previous $250 million repurchase program, authorized by the Board in February 2020 (the "2020 Repurchase Program"), which expired on December 31, 2021, with no amount remaining available.
+Added: On October 27, 2021, we announced that the Board of Directors authorized a $250 million share repurchase program that expires on December 31, 2023 (the "2021 Repurchase Program").
+Added: This authorization replaces our previous $250 million repurchase program, authorized by the Board of Directors in February 2020 (the "2020 Repurchase Program"), which expired on December 31, 2021, with no amount remaining available.
Under the 2021 Repurchase Program, we are not obligated to repurchase any specific dollar amount or number of shares.
1 unchanged sentence
Share repurchases under this program may be made in the open market, in privately negotiated transactions, or otherwise.
−Removed: At December 31, 2021, $250 million remains available under the 2021 Repurchase Program.
+Added: In 2022, we repurchased a total of 948,395 shares of our common stock for an aggregate of $52.2 million and an average price of $55.01 per share.
+Added: These shares were retired upon repurchase.
+Added: At December 31, 2022, $198 million remained available under the 2021 Repurchase Program.
Under the 2020 Repurchase Program, we entered into three accelerated share repurchase arrangements (each, an "ASR") with a financial institution.
11 unchanged sentences
$ 50,000,000 655,699 $ 76.25
−Removed: November 2021 $ 150,000,000 1,742,160 $ 86.10
+Added: November 2021 (a)
$ 150,000,000 1,742,160 $ 86.10
+Added: April 2022 (a)
$ 150,000,000 2,289,153 $ 65.53
+Added: $ 250,000,000 4,041,506 $ 61.86
(a) We received 1,742,160 shares in November 2021.
−Removed: Under this ASR, the purchase period has a scheduled termination date of June 1, 2022, although the financial institution is eligible to early terminate the ASR after January 31, 2022.
−Removed: At termination, either additional shares will be delivered to us or we will need to issue new shares of our common stock to the financial institution.
+Added: Under this ASR, the purchase period had a scheduled termination date of June 1, 2022, although the financial institution was eligible to early terminate the ASR after January 31, 2022.
+Added: In April 2022, the financial institution early terminated this ASR and we received additional 546,993 shares.
The following table provides information about common stock repurchases by the Company during the quarter then ended December 31, 2022.
7 unchanged sentences
December 31, 2022 42,250 $55.90 446,835 197,824,740
−Removed: (1) On February 6, 2020, the Board authorized the Company to repurchase up to $250 million of common stock from time to time as market conditions warrant and as covenants under existing agreements permit.
−Removed: On October 27, 2021, we announced that the Board authorized a $250 million share repurchase program that expires on December 31, 2023.
−Removed: The program does not require the Company to acquire any specific numbers of shares and may be modified or discontinued at any time.
−Removed: This authorization replaces our previous $250 million repurchase program, which expired on December 31, 2021, with no amount remaining available.
+Added: (1) In the fourth quarter of 2021, we entered into a $250 million share repurchase program that expires on December 31, 2023.
+Added: Shares repurchases under this program may be made in the open market, in privately negotiated transactions, or otherwise.
+Added: In July 2022, the Company entered into an agreement to repurchase shares of common stock in the open market.
+Added: In the fourth quarter of 2022, a total of 446,835 shares of common stock was repurchased for an aggregate of $24.9 million and an average price of $55.75 per share.
The following graph compares the cumulative 5-year total return provided to shareholders of The Brink’s Company’s common stock compared to the cumulative total returns of the S&P Midcap 400 index and the common stocks of a selected peer group of companies.
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Therefore, the peer group used in the performance graph combines publicly traded companies in the logistics services industry that have similar operational characteristics, such as route-based delivery of services.
−Removed: The companies included in the new peer group are Cintas Corporation, Iron Mountain, Inc., Euronet Worldwide, Inc., Stericycle, Inc., UniFirst Corporation and Waste Management, Inc.
+Added: The companies included in the peer group are Cintas Corporation, Iron Mountain, Inc., Euronet Worldwide, Inc., Stericycle, Inc., UniFirst Corporation and Waste Management, Inc.
The graph tracks the performance of a $100 investment in our common stock and in each index from December 31, 2017, through December 31, 2022.
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S&P MidCap 400 Index 100.00 88.92 112.21 127.54 159.12 138.34
−Removed: New Peer Group 100.00 122.01 122.76 170.16 189.67 251.34
−Removed: Old Peer Group 100.00 123.41 123.49 167.11 190.83 254.38
+Added: Peer Group 100.00 100.59 139.44 155.40 205.90 199.91
(a) For the line designated as “The Brink’s Company” the graph depicts the cumulative return on $100 invested in The Brink’s Company’s common stock at December 31, 2017.
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Total return assumes reinvestment of dividends.
−Removed: In 2021, we removed ServiceMaster Global Holdings, Inc.
−Removed: from our custom peer group because it privatized in late 2020, and we replaced it with Euronet Worldwide, Inc.
−Removed: We chose the S&P Midcap 400 Index and our new custom peer group as we are included in the S&P Midcap 400 Index and we believe the custom peer group has more similar characteristics to our company for the factors noted above.
+Added: We chose the S&P Midcap 400 Index and our custom peer group as we are included in the S&P Midcap 400 Index, and we believe the custom peer group has more similar characteristics to our company for the factors noted above.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.