XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.23.3

Accumulated other comprehensive income (loss) (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Comprehensive Income (Loss) | Other comprehensive income (loss), including the amounts reclassified from accumulated other comprehensive loss into earnings, was as follows:
| Amounts Arising During the Current Period |  | Amounts Reclassified to Net Income (Loss) |  |
(In millions) | Pretax |  | Income Tax |  | Pretax |  | Income Tax |  | Total Other Comprehensive Income (Loss)
Three months ended September 30, 2023 |  |  |  |  |  |  |  |  |
Amounts attributable to Brink's: |  |  |  |  |  |  |  |  |
Benefit plan adjustments | $ | 0.7 |  |  | 0.2 |  |  | 0.5 |  |  | (0.1) |  |  | 1.3 |
Foreign currency translation adjustments(b) | (38.3) |  |  | (2.7) |  |  | (1.2) |  |  | 0.3 |  |  | (41.9) |
Unrealized gains (losses) on available-for-sale securities | (0.7) |  |  | 0.2 |  |  | 8.6 |  |  | (3.0) |  |  | 5.1 |
Gains (losses) on cash flow hedges | 11.5 |  |  | (1.6) |  |  | (4.6) |  |  | 1.0 |  |  | 6.3 |
| (26.8) |  |  | (3.9) |  |  | 3.3 |  |  | (1.8) |  |  | (29.2) |
Amounts attributable to noncontrolling interests: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (1.5) |  |  | — |  |  | — |  |  | — |  |  | (1.5) |
| (1.5) |  |  | — |  |  | — |  |  | — |  |  | (1.5) |
Total |  |  |  |  |  |  |  |  |
Benefit plan adjustments(a) | 0.7 |  |  | 0.2 |  |  | 0.5 |  |  | (0.1) |  |  | 1.3 |
Foreign currency translation adjustments(b) | (39.8) |  |  | (2.7) |  |  | (1.2) |  |  | 0.3 |  |  | (43.4) |
Unrealized gains (losses) on available-for-sale securities(c) | (0.7) |  |  | 0.2 |  |  | 8.6 |  |  | (3.0) |  |  | 5.1 |
Gains (losses) on cash flow hedges(d) | 11.5 |  |  | (1.6) |  |  | (4.6) |  |  | 1.0 |  |  | 6.3 |
| $ | (28.3) |  |  | (3.9) |  |  | 3.3 |  |  | (1.8) |  |  | (30.7) |
Three months ended September 30, 2022 |  |  |  |  |  |  |  |  |
Amounts attributable to Brink's: |  |  |  |  |  |  |  |  |
Benefit plan adjustments | $ | (0.6) |  |  | 0.2 |  |  | 9.4 |  |  | (2.2) |  |  | 6.8 |
Foreign currency translation adjustments(b) | (36.8) |  |  | (7.3) |  |  | (1.4) |  |  | 0.3 |  |  | (45.2) |
Unrealized losses on available-for-sale securities | 0.7 |  |  | (0.9) |  |  | — |  |  | — |  |  | (0.2) |
Gains (losses) on cash flow hedges | 12.0 |  |  | (2.7) |  |  | 0.2 |  |  | — |  |  | 9.5 |
| (24.7) |  |  | (10.7) |  |  | 8.2 |  |  | (1.9) |  |  | (29.1) |
Amounts attributable to noncontrolling interests: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (4.0) |  |  | — |  |  | — |  |  | — |  |  | (4.0) |
| (4.0) |  |  | — |  |  | — |  |  | — |  |  | (4.0) |
Total |  |  |  |  |  |  |  |  |
Benefit plan adjustments(a) | (0.6) |  |  | 0.2 |  |  | 9.4 |  |  | (2.2) |  |  | 6.8 |
Foreign currency translation adjustments(b) | (40.8) |  |  | (7.3) |  |  | (1.4) |  |  | 0.3 |  |  | (49.2) |
Unrealized losses on available-for-sale securities(c) | 0.7 |  |  | (0.9) |  |  | — |  |  | — |  |  | (0.2) |
Gains (losses) on cash flow hedges(d) | 12.0 |  |  | (2.7) |  |  | 0.2 |  |  | — |  |  | 9.5 |
| $ | (28.7) |  |  | (10.7) |  |  | 8.2 |  |  | (1.9) |  |  | (33.1) |
| Amounts Arising During the Current Period |  | Amounts Reclassified to Net Income (Loss) |  |
(In millions) | Pretax |  | Income Tax |  | Pretax |  | Income Tax |  | Total Other Comprehensive Income (Loss)
Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |
Amounts attributable to Brink's: |  |  |  |  |  |  |  |  |
Benefit plan adjustments | $ | (3.0) |  |  | 0.7 |  |  | 1.9 |  |  | (0.5) |  |  | (0.9) |
Foreign currency translation adjustments(b) | 26.5 |  |  | (0.7) |  |  | (4.1) |  |  | 1.0 |  |  | 22.7 |
Unrealized gains (losses) on available-for-sale securities | (0.3) |  |  | 0.1 |  |  | 8.6 |  |  | (3.0) |  |  | 5.4 |
Gains (losses) on cash flow hedges | 19.8 |  |  | (1.7) |  |  | (5.9) |  |  | 0.5 |  |  | 12.7 |
| 43.0 |  |  | (1.6) |  |  | 0.5 |  |  | (2.0) |  |  | 39.9 |
Amounts attributable to noncontrolling interests: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (4.3) |  |  | — |  |  | — |  |  | — |  |  | (4.3) |
| (4.3) |  |  | — |  |  | — |  |  | — |  |  | (4.3) |
Total |  |  |  |  |  |  |  |  |
Benefit plan adjustments(a) | (3.0) |  |  | 0.7 |  |  | 1.9 |  |  | (0.5) |  |  | (0.9) |
Foreign currency translation adjustments(b) | 22.2 |  |  | (0.7) |  |  | (4.1) |  |  | 1.0 |  |  | 18.4 |
Unrealized gains (losses) on available-for-sale securities(c) | (0.3) |  |  | 0.1 |  |  | 8.6 |  |  | (3.0) |  |  | 5.4 |
Gains (losses) on cash flow hedges(d) | 19.8 |  |  | (1.7) |  |  | (5.9) |  |  | 0.5 |  |  | 12.7 |
| $ | 38.7 |  |  | (1.6) |  |  | 0.5 |  |  | (2.0) |  |  | 35.6 |
Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |
Amounts attributable to Brink's: |  |  |  |  |  |  |  |  |
Benefit plan adjustments | $ | 0.4 |  |  | 0.3 |  |  | 29.1 |  |  | (6.9) |  |  | 22.9 |
Foreign currency translation adjustments(b) | (57.8) |  |  | (2.9) |  |  | (4.4) |  |  | 1.0 |  |  | (64.1) |
Unrealized losses on available-for-sale securities | — |  |  | (1.0) |  |  | — |  |  | — |  |  | (1.0) |
Gains (losses) on cash flow hedges | 25.8 |  |  | (4.5) |  |  | 11.6 |  |  | (3.5) |  |  | 29.4 |
| (31.6) |  |  | (8.1) |  |  | 36.3 |  |  | (9.4) |  |  | (12.8) |
Amounts attributable to noncontrolling interests: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (10.5) |  |  | — |  |  | — |  |  | — |  |  | (10.5) |
| (10.5) |  |  | — |  |  | — |  |  | — |  |  | (10.5) |
Total |  |  |  |  |  |  |  |  |
Benefit plan adjustments(a) | 0.4 |  |  | 0.3 |  |  | 29.1 |  |  | (6.9) |  |  | 22.9 |
Foreign currency translation adjustments(b) | (68.3) |  |  | (2.9) |  |  | (4.4) |  |  | 1.0 |  |  | (74.6) |
Unrealized losses on available-for-sale securities(c) | — |  |  | (1.0) |  |  | — |  |  | — |  |  | (1.0) |
Gains (losses) on cash flow hedges(d) | 25.8 |  |  | (4.5) |  |  | 11.6 |  |  | (3.5) |  |  | 29.4 |
| $ | (42.1) |  |  | (8.1) |  |  | 36.3 |  |  | (9.4) |  |  | (23.3) |
(a)The amortization of actuarial losses and prior service cost is part of total net periodic retirement benefit cost when reclassified to net income. Net periodic retirement benefit cost also includes service cost, interest cost, expected return on assets, and settlement losses. Total service cost is allocated between cost of revenues and selling, general and administrative expenses on a plan-by-plan basis and the remaining net periodic retirement benefit cost items are allocated to interest and other nonoperating expense:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Total net periodic retirement benefit cost included in: |  |  |  |  |  |  |
Cost of revenues | $ | 1.4 |  |  | 1.5 |  |  | $ | 4.3 |  |  | 4.8 |
Selling, general and administrative expenses | 0.5 |  |  | 0.5 |  |  | 1.5 |  |  | 1.4 |
Interest and other nonoperating expense | 0.2 |  |  | 3.1 |  |  | 1.0 |  |  | 11.1 |
(b)2023 foreign currency translation adjustment amounts arising during the three months ended September 30, 2023 reflect primarily the devaluation of the Brazilian real, the Mexican peso, the Chilean peso, and the euro. 2022 foreign currency translation adjustment amounts arising during the three months ended September 30, 2022 reflect primarily the devaluation of the British pound and the Brazilian real. 2023 foreign currency translation adjustment amounts arising during the nine months ended September 30, 2023 reflect primarily the appreciation of the Mexican peso, and the Brazilian real, partially offset by the devaluation of the euro. 2022 foreign currency translation adjustment amounts arising during the nine months ended September 30, 2022 reflect primarily the devaluation of the British pound, the euro, and the Chilean peso, partially offset by appreciation of the Mexican peso. (c)Gains and losses on sales of available-for-sale debt securities are reclassified from accumulated other comprehensive income (loss) to the condensed consolidated statements of operations when the gains or losses are realized. Pretax amounts are classified in the condensed consolidated statements of operations as interest and other nonoperating income (expense). We realized an $8.6 million loss on sales of available-for-sale debt securities in the third quarter of 2023. (d)Pretax gains and losses on cash flow hedges are classified in the condensed consolidated statements of operations as: •ot her operating income (expense) ($0.5 million loss in the three months ended September 30, 2023 and $0.3 million gain in the three months ended September 30, 2022; as well as $7.7 million loss in the nine months ended September 30, 2023 and $6.2 million loss in the nine months ended September 30, 2022). •interest expense ($5.2 million reduction to expense in the three months ended September 30, 2023 and $0.5 million of expense in the three months ended September 30, 2022; as well as $13.7 million reduction to expense in the nine months ended September 30, 2023 and $5.4 million of expense in the nine months ended September 30, 2022).
Reclassification Out of Accumulated Other Comprehensive Income | The changes in accumulated other comprehensive loss attributable to Brink’s are as follows:
(In millions) | Benefit Plan Adjustments |  | Foreign Currency Translation Adjustments |  | Unrealized Losses on Available-for-Sale Securities |  | Gains (Losses) on Cash Flow Hedges |  | Total
Balance as of December 31, 2022 | $ | (290.7) |  |  | (433.8) |  |  | (0.6) |  |  | 24.6 |  |  | (700.5) |
Other comprehensive income (loss) before reclassifications | (2.3) |  |  | 25.8 |  |  | (0.2) |  |  | 18.1 |  |  | 41.4 |
Amounts reclassified from accumulated other comprehensive loss to net income | 1.4 |  |  | (3.1) |  |  | 5.6 |  |  | (5.4) |  |  | (1.5) |
Other comprehensive income (loss) attributable to Brink's | (0.9) |  |  | 22.7 |  |  | 5.4 |  |  | 12.7 |  |  | 39.9 |
Balance as of September 30, 2023 | $ | (291.6) |  |  | (411.1) |  |  | 4.8 |  |  | 37.3 |  |  | (660.6) |

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration