3 unchanged sentences
Share Repurchase Program
−Removed: On November 2, 2023, our Board of Directors authorized a $500 million share repurchase program that expires on December 31, 2025 (the “2023 Repurchase Program”).
+Added: On November 2, 2023, our Board authorized a $500 million share repurchase program that expires on December 31, 2025 (the “2023 Repurchase Program”).
Under the 2023 Repurchase Program, we are not obligated to repurchase any specific dollar amount or number of shares.
1 unchanged sentence
Share repurchases under the 2023 Repurchase Program may be made in the open market, in privately negotiated transactions, or otherwise.
−Removed: In October 2021, we announced that our Board of Directors authorized a $250 million share repurchase program (the "2021 Repurchase Program").
+Added: During the twelve months ended December 31, 2024, we repurchased a total of 2,108,544 shares of our common stock for an aggregate of $203.6 million and an average price of $96.54 per share.
+Added: These shares were retired upon repurchase.
+Added: At December 31, 2024, $296 million remained available under the 2023 Repurchase Program.
+Added: In October 2021, we announced that our Board authorized a $250 million share repurchase program (the "2021 Repurchase Program").
Under the 2021 Repurchase Program, in 2023, we repurchased a total of 2,297,955 shares of our common stock for an aggregate of $169.9 million and an average price of $73.92 per share.
2 unchanged sentences
The 2021 Repurchase Program expired on December 31, 2023 with approximately $28 million remaining available.
−Removed: Our Board of Directors previously authorized a $250 million repurchase program (the “2020 Repurchase Program”) in February 2020.
+Added: Our Board previously authorized a $250 million repurchase program in February 2020 (the “2020 Repurchase Program”).
Under the 2020 Repurchase Program, we entered into three accelerated share repurchase arrangements (each, an "ASR") with a financial institution.
1 unchanged sentence
The shares received were retired in the period they were delivered to us, and the upfront payment was accounted for as a reduction to shareholders' equity in the consolidated balance sheet.
+Added: In 2022, we received 546,993 additional shares upon the early termination of an ASR.
For purposes of calculating earnings per share, we reported each ASR as a repurchase of our common stock and as a forward contract indexed to our common stock.
Each ASR met the applicable criteria for equity classification, and, as a result, none were accounted for as a derivative instrument.
−Removed: Below is a summary of each ASR entered into under the 2020 Repurchase Program:
−Removed: Upfront Payment Shares Received Average Repurchase Price
−Removed: August 2020 $ 50,000,000 849,978 $ 58.83
−Removed: September 2020 — 246,676 —
−Removed: $ 50,000,000 1,096,654 $ 45.59
−Removed: August 2021 $ 50,000,000 524,315 $ 95.36
−Removed: September 2021 — 131,384 —
−Removed: $ 50,000,000 655,699 $ 76.25
−Removed: November 2021 (a)
−Removed: $ 150,000,000 1,742,160 $ 86.10
−Removed: April 2022 (a)
−Removed: $ 150,000,000 2,289,153 $ 65.53
−Removed: $ 250,000,000 4,041,506 $ 61.86
−Removed: (a) We received 1,742,160 shares in November 2021.
−Removed: 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.
−Removed: 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, 2024.
−Removed: (a) Total Number of Shares Purchased
−Removed: (b) Average Price Paid per Share (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
+Added: Period (a) Total Number of Shares Purchased (b) Average Price Paid per Share (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
(d) Maximum Number (or Approximate Dollar Value) of Shares that May Yet be Purchased Under the Plans or Programs (1)
1 unchanged sentence
October 31, 2024
+Added: 51,403 $105.31 51,403 $ 369,292,101
November 1 through
November 30, 2024
+Added: 338,700 $96.57 390,103 336,584,974
December 1 through
December 31, 2024 427,217 $93.96 817,320 296,443,422
−Removed: (1) On October 27, 2021, the Company's Board of Directors approved a $250 million share repurchase program that expired on December 31, 2023, with approximately $28 million remaining under the program.
+Added: (1) In the fourth quarter of 2023, we entered into a $500 million share repurchase program that expires on December 31, 2025.
+Added: Shares repurchases under this program may be made in the open market, in privately negotiated transactions, or otherwise.
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.
1 unchanged sentence
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 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., 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, 2019, through December 31, 2024.
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Total return assumes reinvestment of dividends.
+Added: In 2024, we removed Stericycle, Inc.
+Added: from our custom peer group because it was acquired by Waste Management, Inc.
+Added: during the year.
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.
+Added: Not Applicable
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.