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Brink's, Incorporated
Brink's Home Security
BAX Global
2003 Financial Review
Financial Highlights
Management’s Discussion and Analysis
Statement of Management Responsibility
Independent Auditors Report
Consolidated Financial Statements
Notes to Consolidated Financial Statements
Selected Financial Data
Board of Directors and Senior Management
Corporate Information
Management’s Discussion and Analysis of Results of Operations and Financial Condition
Operations
Results of Operations
Overview
Consolidated Review
Brink’s, Incorporated
Brink’s Home Security
BAX Global
Corporate Expense - The Brink’s Company
Retained Liabilities and Assets of Former Natural Resource Operations
Overview
Legacy Liabilities and Assets
Projected Payments and Expenses of Retained Coal Liabilities and Administrative Costs
Company-Sponsored Retiree Medical Benifits
Health Benefit Act Obligations
Black Lung Obligations
Withdrawal Liabilities
VEBA
Discontinued Operations
Sale of Other National Resources Assets
Other Operating Income, Net
Nonoperating Income and Expense
Income Taxes
Foreign Operations
Liquidity and Capital Resources
Overview
Summary of Cash Flow Information
Operating Activities
Investing Activities
Business Segment Cash Flows
Financing Activities
Capitalization
Off Balance Sheet Arrangements
Contractual Obligations
Other Potential Use of Credit
Other Contingent Gains and Losses
Market Risk Exposures
Application of Critical Accounting Policies
Recent Accounting Pronouncements
Forward-Looking Information
MD&A Quicklinks
Results of Operations
Retained Liabilities and Assets of Former Natural Resource Operations
Legacy Liabilities and Assets
Projected Payments and Expenses
Company-sponsored Retiree Medical Benefits
Health Benefit Act Obligations
Black Lung Obligations
Withdrawal Liabilities
VEBA
Liquidity and Capital Resources
