Pages
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Report
of Independent Registered Public Accounting Firm
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4
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Financial
Statements
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Statements
of Assets Available for Benefits
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December 31, 2007 and
2006
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5
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Statement
of Changes in Assets Available for Benefits
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Year Ended December 31,
2007
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6
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Notes
to Financial Statements
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7-13
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Schedule
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Schedule
H, Line 4i, -
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Schedule of Assets (Held at End of
Year) –
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December 31, 2007
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14-15
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December
31,
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||||||||
(In
thousands)
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2007
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2006
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||||||
Investments
at fair value:
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||||||||
The Brink’s Company common
stock
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$ | 28,623 | 67,205 | |||||
Mutual funds
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187,328 | 143,233 | ||||||
Common trust funds
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53,167 | 51,574 | ||||||
Participant loans
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15,494 | 13,458 | ||||||
Total
investments at fair value
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284,612 | 275,470 | ||||||
Receivables:
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||||||||
Participant
contributions
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916 | 761 | ||||||
Employer
contributions
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- | 571 | ||||||
Interest
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39 | 31 | ||||||
Total
receivables
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955 | 1,363 | ||||||
Cash
and cash equivalents
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1,983 | 266 | ||||||
Assets
available for benefits at fair value
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287,550 | 277,099 | ||||||
Adjustment
from fair value to contract value for common trust fund holding fully
benefit-responsive investment contracts
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(220 | ) | 312 | |||||
Assets
available for benefits
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$ | 287,330 | 277,411 |
Year
Ended
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||||
December
31,
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||||
(In
thousands)
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2007
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|||
Income:
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||||
Dividends
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$ | 13,451 | ||
Interest
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1,111 | |||
Net
depreciation in fair value of investments
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(3,813 | ) | ||
Contributions:
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||||
Participant
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21,970 | |||
Employer
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17,820 | |||
Rollover
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1,222 | |||
Total
additions
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51,761 | |||
Distributions
to participants or beneficiaries
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(41,842 | ) | ||
Net
increase
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9,919 | |||
Assets
available for benefits:
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||||
Beginning
of year
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277,411 | |||
End
of year
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$ | 287,330 |
(a)
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If
the participant is age 59 1/2 or older, he or she may withdraw all or a
portion of his or her pretax
contributions.
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(b)
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If
the participant has a "financial hardship" (as that term is defined by
Internal Revenue Service (“IRS”) guidelines) it is possible to withdraw
all or a portion of his or her pretax contributions in the Plan up to the
amount needed to satisfy the hardship, regardless of
age. Employee pretax contributions are suspended for six months
after each hardship withdrawal.
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(a)
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All
or a portion of after-tax
contributions;
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(b)
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All
or a portion of earnings attributable to after-tax
contributions;
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(c)
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Any
rollover contributions.
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Less
than 2 years
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0%
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2
but less than 3 years
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20%
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3
but less than 4 years
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50%
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4
but less than 5 years
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75%
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5
or more years
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100%
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(In
thousands, except share amounts)
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Shares
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Fair
Value
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Cost
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Shares
held at December 31, 2006
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1,051,390 | $ | 67,205 | $ | 24,734 | |||||||
Purchases
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13,386 | 822 | 822 | |||||||||
Sales
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(585,651 | ) | (35,998 | ) | (13,961 | ) | ||||||
Net
depreciation
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- | (3,406 | ) | - | ||||||||
Shares
held at December 31, 2007
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479,125 | $ | 28,623 | $ | 11,595 |
Year
Ended
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December
31,
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(In
thousands)
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2007
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Net
appreciation (depreciation) of investments at fair value as determined by
quoted market prices:
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The Brink’s Company common
stock
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$ | (3,406 | ) | |
Mutual funds
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(1,235 | ) | ||
Common trust
funds
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828 | |||
$ | (3,813 | ) |
December
31,
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||||||||
(In
thousands)
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2007
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2006
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The
Brink’s Company common stock:
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||||||||
Matching contributions (see
note 3)
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$ | 27,704 | 64,890 | |||||
Employee contributions (see
note 3)
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919 | 2,315 | ||||||
28,623 | 67,205 | |||||||
T.
Rowe Price Stable Value Common Trust Fund
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37,183 | 36,339 | ||||||
T.
Rowe Price Blue Chip Growth Fund
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17,961 | 15,345 | ||||||
T.
Rowe Price Equity Index Trust
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15,985 | 15,235 | ||||||
T.
Rowe Price New Horizons Fund
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14,438 | 14,105 | ||||||
Participant
Loans
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15,494 | 13,458 |
December
31,
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||||||||
(In
thousands)
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2007
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2006
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Net
assets available for benefits per the Form 5500
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$ | 285,613 | 276,792 | |||||
Cumulative
deemed distributions
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111 | 111 | ||||||
Adjustment
from fair value to contract value for fully benefit-responsive investment
contracts
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(220 | ) | 312 | |||||
Benefits
payable to participants at end of year
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1,826 | 196 | ||||||
Net
assets available for benefits per the Statements of Assets Available for
Benefits
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$ | 287,330 | 277,411 |
Year
Ended
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December
31,
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(In
thousands)
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2007
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Distributions
to participants or beneficiaries per the Form 5500
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$ | 43,472 | ||
Change
in the amount of deemed distributions
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- | |||
Benefits
payable to participants at end of year
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(1,826 | ) | ||
Benefits
payable to participants at beginning of year
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196 | |||
Distributions
to participants or beneficiaries per the Statement of Changes in Assets
Available for Benefits
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$ | 41,842 |
Year
Ended
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December
31,
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(In
thousands)
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2007
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Total
additions per the Form 5500
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$ | 52,293 | ||
Prior
year adjustment from fair value to contract value for fully
benefit-responsive investment contracts
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(312 | ) | ||
Adjustment
from fair value to contract value for fully benefit-responsive investment
contracts
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(220 | ) | ||
Total
additions per the Statement of Changes in Assets Available for
Benefits
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$ | 51,761 |
Identity
of Issuer, Borrower, Lessor or Similar Party
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Description
of Investment Including Maturity Date, Rate of Interest, Collateral, Par
or Maturity Value
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Current
Value
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*The
Brink’s Company
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479,125
shares of The Brink’s Company common stock; $1 par value
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$ | 28,623 | ||
ING
Investments, LLC
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668,350
shares in the ING International Value Fund
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12,418 | |||
Lord
Abbett
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207,718
shares in Lord Abbett Mid Cap Value Fund
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3,857 | |||
*T.
Rowe Price
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36,963,118
shares in the Stable Value Common Trust Fund
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37,183 | |||
*T.
Rowe Price
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519,522
shares in the Spectrum Income Fund
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6,343 | |||
*T.
Rowe Price
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389,686
shares in the Equity Income Fund
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10,950 | |||
*T.
Rowe Price
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366,199
shares in the Equity Index Trust
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15,985 | |||
*T.
Rowe Price
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283,567
shares in the Small Cap Value Fund
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10,186 | |||
*T.
Rowe Price
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473,218
shares in the New Horizons Fund
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14,438 | |||
*T.
Rowe Price
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177,940
shares in the Mid-Cap Growth Fund
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10,262 | |||
*T.
Rowe Price
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446,457
shares in the Blue Chip Growth Fund
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17,961 | |||
*T.
Rowe Price
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206,350
shares in the Retirement 2005 Fund
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2,433 | |||
*T.
Rowe Price
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580,714
shares in the Retirement 2010 Fund
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9,413 | |||
*T.
Rowe Price
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1,060,186
shares in the Retirement 2015 Fund
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13,411 |
Identity
of Issuer, Borrower, Lessor or Similar Party
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Description
of Investment Including Maturity Date, Rate of Interest, Collateral, Par
or Maturity Value
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Current
Value
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*T.
Rowe Price
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679,995
shares in the Retirement 2020 Fund
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12,063 | |||
*T.
Rowe Price
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986,096
shares in the Retirement 2025 Fund
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12,997 | |||
*T.
Rowe Price
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680,502
shares in the Retirement 2030 Fund
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12,964 | |||
*T.
Rowe Price
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857,764
shares in the Retirement 2035 Fund
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11,588 | |||
*T.
Rowe Price
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550,242
shares in the Retirement 2040 Fund
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10,565 | |||
*T.
Rowe Price
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973,361
shares in the Retirement 2045 Fund
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12,391 | |||
*T.
Rowe Price
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75,516
shares in the Retirement 2050 Fund
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791 | |||
*T.
Rowe Price
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7,256
shares in the Retirement 2055 Fund
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76 | |||
*T.
Rowe Price
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166,911
shares in the Retirement Income Fund
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2,220 | |||
*Participant
Loans
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Participant
loans at interest rates ranging from 5% to 10.5%, maturities not to exceed
4.5 years for general purpose and 15 years for principal
residence
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15,494 | |||
$ | 284,612 |
The Brink’s Company
401(k) Plan
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(Name
of Plan)
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/s/ Michael J.
Cazer
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(Michael
J. Cazer
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Chief
Financial Officer
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of
The Brink’s Company)
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