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v3.22.4

Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Reconciliation of Revenue and Operating Profit from Segments to Consolidated |
| Revenues |  | Operating Profit
| Years Ended December 31, |  | Years Ended December 31,
(In millions) | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Reportable Segments: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 1,584.1 |  |  | 1,407.1 |  |  | 1,261.4 |  |  | $ | 159.1 |  |  | 148.4 |  |  | 91.7 |
Latin America | 1,210.6 |  |  | 1,126.0 |  |  | 1,071.9 |  |  | 277.7 |  |  | 257.3 |  |  | 233.6 |
Europe | 931.4 |  |  | 917.3 |  |  | 753.8 |  |  | 98.4 |  |  | 89.8 |  |  | 51.2 |
Rest of World | 809.4 |  |  | 749.8 |  |  | 603.8 |  |  | 163.9 |  |  | 131.5 |  |  | 117.1 |
Total reportable segments | 4,535.5 |  |  | 4,200.2 |  |  | 3,690.9 |  |  | 699.1 |  |  | 627.0 |  |  | 493.6 |
Reconciling Items: |  |  |  |  |  |  |  |  |  |  |
Corporate expenses: |  |  |  |  |  |  |  |  |  |  |
General, administrative and other expenses | — |  |  | — |  |  | — |  |  | (161.5) |  |  | (141.7) |  |  | (116.3) |
Foreign currency transaction gains (losses) | — |  |  | — |  |  | — |  |  | 10.9 |  |  | 2.7 |  |  | (6.5) |
Reconciliation of segment policies to GAAP(a) | — |  |  | — |  |  | — |  |  | 1.8 |  |  | (17.5) |  |  | 10.5 |
Other items not allocated to segments: |  |  |  |  |  |  |  |  |  |  |
Reorganization and Restructuring(b) | — |  |  | — |  |  | — |  |  | (38.8) |  |  | (43.6) |  |  | (66.6) |
Acquisitions and dispositions(c) | — |  |  | — |  |  | — |  |  | (86.6) |  |  | (71.9) |  |  | (83.1) |
Argentina highly inflationary impact(d) | — |  |  | — |  |  | — |  |  | (41.7) |  |  | (11.9) |  |  | (10.7) |
Change in allowance estimate(e) | — |  |  | — |  |  | — |  |  | (15.6) |  |  | — |  |  | — |
Ship loss matter(f) | — |  |  | — |  |  | — |  |  | (4.9) |  |  | — |  |  | — |
Chile antitrust matter(g) | — |  |  | — |  |  | — |  |  | (1.4) |  |  | (9.5) |  |  | — |
Internal loss(h) | — |  |  | — |  |  | — |  |  | — |  |  | 21.1 |  |  | (6.9) |
Reporting compliance(i) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.5) |
Total | $ | 4,535.5 |  |  | 4,200.2 |  |  | 3,690.9 |  |  | $ | 361.3 |  |  | 354.7 |  |  | 213.5 |
(a)This line item includes adjustments to bad debt expense and a Mexico profit sharing plan accrual reported by the segments to the estimated consolidated amounts required by U.S. GAAP. (b)Management periodically implements restructuring actions in targeted sections of our business. In 2022, management began a restructuring plan across our global business operations to enable growth, reduce costs and related infrastructure, and to mitigate the potential impact of external economic conditions. Due to the unique circumstances around the charges related to these actions, they have not been allocated to segment results. (c)Certain acquisition-related and disposition-related items that are not considered part of the ongoing activities of the business and are special in nature are consistently excluded from segment results. These items include amortization expense for acquisition-related intangible assets and integration, transaction and restructuring costs related to business acquisitions. (d)We have designated Argentina's economy as highly inflationary for accounting purposes. Currency remeasurement gains and losses related to peso-denominated monetary assets and liabilities as well as incremental expense related to nonmonetary assets are excluded from segment results. (e)Represents impact of a change in our methodology to estimate our allowance for doubtful accounts in the first quarter of 2022. See Note 1 and Note 16 for further details. (f)We have excluded an estimate of our share of costs for damages and losses suffered by a ship owner that was carrying cargo for Brink's. (g)See details regarding the Chile antitrust matter at Note 23. (h)See details regarding the impact of the Internal loss at Note 1. (i)Costs (primarily third party expenses) related to lease accounting standard implementation. Additional information provided at page 28.
Schedule of Capital Expenditures, Depreciation and Amortization by Segment |
| Years Ended December 31,
(In millions) | 2022 |  | 2021 |  | 2020
Capital Expenditures by Reportable Segment |  |  |  |  |
North America | $ | 41.4 |  |  | 40.4 |  |  | 27.4 |
Latin America | 50.1 |  |  | 45.0 |  |  | 35.1 |
Europe | 50.5 |  |  | 50.6 |  |  | 33.4 |
Rest of World | 34.4 |  |  | 26.0 |  |  | 16.6 |
Total reportable segments | 176.4 |  |  | 162.0 |  |  | 112.5 |
Corporate items | 6.2 |  |  | 5.9 |  |  | 6.0 |
Total | $ | 182.6 |  |  | 167.9 |  |  | 118.5 |
Depreciation and Amortization by Reportable Segment |  |  |  |  |
Depreciation and amortization of property and equipment: |  |  |  |  |
North America | $ | 69.1 |  |  | 68.7 |  |  | 62.3 |
Latin America | 49.1 |  |  | 46.2 |  |  | 44.0 |
Europe | 39.6 |  |  | 41.4 |  |  | 32.2 |
Rest of World | 23.6 |  |  | 23.2 |  |  | 20.0 |
Total reportable segments | 181.4 |  |  | 179.5 |  |  | 158.5 |
Corporate items | 8.4 |  |  | 9.7 |  |  | 9.1 |
Argentina highly inflationary impact | 2.9 |  |  | 2.2 |  |  | 1.8 |
Acquisitions and dispositions | 0.1 |  |  | 0.1 |  |  | 1.0 |
Reorganization and Restructuring | 1.0 |  |  | 0.3 |  |  | 1.3 |
Depreciation and amortization of property and equipment | 193.8 |  |  | 191.8 |  |  | 171.7 |
Amortization of intangible assets(a) | 52.0 |  |  | 47.7 |  |  | 35.1 |
Total | $ | 245.8 |  |  | 239.5 |  |  | 206.8 |
(a)Amortization of acquisition-related intangible assets has been excluded from reportable segment amounts.
Reconciliation of Assets from Segment to Consolidated |
| December 31,
(In millions) | 2022 |  | 2021
Assets held by Reportable Segment |  |  |
North America | $ | 1,949.9 |  |  | 1,674.2 |
Latin America | 1,180.6 |  |  | 1,018.9 |
Europe | 1,789.9 |  |  | 1,437.8 |
Rest of World | 1,064.8 |  |  | 1,070.6 |
Total reportable segments | 5,985.2 |  |  | 5,201.5 |
Corporate items | 380.8 |  |  | 365.2 |
Total | $ | 6,366.0 |  |  | 5,566.7 |
Schedule of Long Lived Assets By Geographic Areas |
| December 31,
(In millions) | 2022 |  | 2021
Long-Lived Assets by Geographic Area(a) |  |  |
Non-U.S.: |  |  |
Mexico | $ | 123.1 |  |  | 116.8 |
France | 89.4 |  |  | 81.6 |
Brazil | 72.5 |  |  | 61.8 |
United Kingdom | 46.0 |  |  | 3.7 |
Canada | 32.9 |  |  | 42.0 |
Other | 270.1 |  |  | 262.1 |
Subtotal | 634.0 |  |  | 568.0 |
U.S. | 301.3 |  |  | 297.6 |
Total | $ | 935.3 |  |  | 865.6 |
(a)Long-lived assets include only property and equipment, net.
Schedule of Revenue By Geographical Areas |
| Years Ended December 31,
(In millions) | 2022 |  | 2021 |  | 2020
Revenues by Geographic Area(a) |  |  |  |  |
Outside the U.S.: |  |  |  |  |
Mexico | $ | 452.6 |  |  | 416.1 |  |  | 366.3 |
France | 370.1 |  |  | 373.8 |  |  | 336.7 |
Brazil | 329.9 |  |  | 303.9 |  |  | 315.0 |
Argentina | 203.9 |  |  | 177.5 |  |  | 171.2 |
Canada | 124.5 |  |  | 138.3 |  |  | 129.8 |
Netherlands | 124.3 |  |  | 129.3 |  |  | 97.9 |
Other | 1,470.6 |  |  | 1,392.6 |  |  | 1,142.4 |
Subtotal | 3,075.9 |  |  | 2,931.5 |  |  | 2,559.3 |
U.S. | 1,459.6 |  |  | 1,268.7 |  |  | 1,131.6 |
Total | $ | 4,535.5 |  |  | 4,200.2 |  |  | 3,690.9 |
(a)Revenues are recorded in the country where service is initiated or performed. No single customer represents more than 10% of total revenue.
Schedule of Net Assets Outside the U.S. |
| December 31,
(In millions) | 2022 |  | 2021
Net assets outside the U.S. |  |  |
Argentina | $ | 234.5 |  |  | 216.4 |
Brazil | 231.7 |  |  | 218.1 |
Mexico | 206.1 |  |  | 131.6 |
France | 196.7 |  |  | 195.6 |
Netherlands | 151.8 |  |  | 136.8 |
Other non-U.S. markets | 1,207.8 |  |  | 1,184.9 |
Total | $ | 2,228.6 |  |  | 2,083.4 |

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