Management’s Discussion and Analysis
Corporate Expense - The Brink’s Company
| |
|
Years Ended December 31, |
% change |
| (In millions) |
|
2003 |
2002 |
2002 |
2003 |
2002 |
| Corporate expense |
$ |
27.8 |
23.1 |
21.5 |
20 |
7 |
The increase in corporate expense in 2003 primarily reflected increases in benefit-related expenses as well as additional costs related to the implementation of Section 404 of the Sarbanes-Oxley Act of 2002. The Sarbanes-Oxley costs are expected to be higher in 2004 compared to 2003, but should decrease in 2005 from 2004 as the initial compliance effort is completed in 2004.
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