Brinks Company (BCO)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	3,262,500	3,202,200	3,251,200	3,190,200	3,273,200	3,269,200	3,060,900	2,961,400	2,841,700	2,701,100	2,702,200	2,427,600	2,334,200	2,407,000	2,362,600	1,756,800	1,554,800	1,660,800	1,657,700	1,596,500
Total assets	US$ in thousands	6,601,800	6,264,800	6,411,400	6,253,100	6,366,000	5,933,400	5,823,100	5,750,400	5,566,700	5,552,900	5,578,400	5,190,500	5,135,600	4,903,100	4,771,200	3,800,900	3,763,800	3,702,600	3,732,400	3,602,000
Debt-to-assets ratio		0.49	0.51	0.51	0.51	0.51	0.55	0.53	0.51	0.51	0.49	0.48	0.47	0.45	0.49	0.50	0.46	0.41	0.45	0.44	0.44

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,262,500K ÷ $6,601,800K
= 0.49

Based on the provided data, Brink's Co.'s debt-to-assets ratio has been relatively stable over the past eight quarters, ranging from 0.53 to 0.57. The ratio measures the proportion of the company's assets financed by debt, with higher values indicating a higher level of debt relative to assets.

The company's average debt-to-assets ratio over this period is approximately 0.54, indicating that, on average, 54% of Brink's Co.'s assets are funded by debt. This suggests that the company relies moderately on debt to finance its operations and investments, while still maintaining a significant portion of assets financed through equity or other sources.

Overall, Brink's Co. has maintained a consistent level of leverage over the past two years, with the ratio remaining within a narrow range. This stability in the debt-to-assets ratio indicates a balanced approach to capital structure management, where the company has been able to maintain a healthy mix of debt and equity financing to support its business activities.