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Segment information | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Segment information | Segment information We identify our operating segments based on how our chief operating decision maker (“CODM”) allocates resources, assesses performance and makes decisions. Our CODM is our President and Chief Executive Officer. Our CODM evaluates performance and allocates resources to each operating segment based on a profit or loss measure which, at the reportable segment level, excludes the following: •Corporate expenses - include corporate headquarters costs, regional management costs, currency transaction gains and losses, adjustments to reconcile segment accounting policies to GAAP, and costs related to global initiatives. •Other items not allocated to segments - certain significant items that are not considered part of the ongoing activities of the business are excluded from segment results. See further explanation for each item not allocated to segments on page 14. We manage our business in the following four segments: •North America – operations in the U.S. and Canada, including the Brink’s Global Services ("BGS") line of business, •Latin America – operations in Latin American countries where we have an ownership interest, including the BGS line of business, •Europe – total operations in European countries that primarily provide services outside of the BGS line of business, and •Rest of World – operations in the Middle East, Africa and Asia. This segment also includes total operations in European countries that primarily provide BGS services and BGS activity in Latin American countries where we do not have an ownership interest. The following table summarizes our revenues and segment profit for each of our reportable segments and reconciles these amounts to consolidated revenues and operating profit:
| Revenues |  | Operating Profit
| Three Months Ended September 30, |  | Three Months Ended September 30,
(In millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Reportable Segments: |  |  |  |  |  |  |
North America | $ | 398.1 |  |  | 400.6 |  |  | 47.5 |  |  | 38.2
Latin America | 339.6 |  |  | 301.1 |  |  | 68.1 |  |  | 66.5
Europe | 287.8 |  |  | 220.0 |  |  | 35.8 |  |  | 25.9 |
Rest of World | 201.9 |  |  | 215.0 |  |  | 42.6 |  |  | 48.3 |
Total reportable segments | 1,227.4 |  |  | 1,136.7 |  |  | 194.0 |  |  | 178.9 |
Reconciling Items: |  |  |  |  |  |  |
Corporate expenses: |  |  |  |  |  |  |
General, administrative and other expenses | — |  |  | — |  |  | (32.4) |  |  | (57.0) |
Foreign currency transaction gains | — |  |  | — |  |  | 5.4 |  |  | 3.6 |
Reconciliation of segment policies to GAAP(a) | — |  |  | — |  |  | (0.7) |  |  | 1.3 |
Other items not allocated to segments: |  |  |  |  |  |  |
Reorganization and Restructuring(b) | — |  |  | — |  |  | (0.4) |  |  | (19.6) |
Acquisitions and dispositions(c) | — |  |  | — |  |  | (19.4) |  |  | (35.7) |
Argentina highly inflationary impact(d) | — |  |  | — |  |  | (8.1) |  |  | (12.0) |
Change in allowance estimate(e) | — |  |  | — |  |  | — |  |  | 0.3 |
Chile antitrust matter(f) | — |  |  | — |  |  | — |  |  | (0.3) |
Reporting compliance(g) | — |  |  | — |  |  | (0.7) |  |  | — |
Total | $ | 1,227.4 |  |  | 1,136.7 |  |  | $ | 137.7 |  |  | 59.5 |
| Revenues |  | Operating Profit
| Nine Months Ended September 30, |  | Nine Months Ended September 30,
(In millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Reportable Segments: |  |  |  |  |  |  |
North America | $ | 1,197.4 |  |  | 1,171.0 |  |  | 123.6 |  |  | 96.7 |
Latin America | 989.0 |  |  | 898.7 |  |  | 200.6 |  |  | 194.2 |
Europe | 842.4 |  |  | 668.8 |  |  | 87.1 |  |  | 63.1 |
Rest of World | 600.2 |  |  | 606.1 |  |  | 121.2 |  |  | 120.9 |
Total reportable segments | 3,629.0 |  |  | 3,344.6 |  |  | 532.5 |  |  | 474.9 |
Reconciling Items: |  |  |  |  |  |  |
Corporate expenses: |  |  |  |  |  |  |
General, administrative and other expenses | — |  |  | — |  |  | (122.3) |  |  | (125.4) |
Foreign currency transaction gains | — |  |  | — |  |  | 15.3 |  |  | 9.4 |
Reconciliation of segment policies to GAAP(a) | — |  |  | — |  |  | — |  |  | 4.0 |
Other items not allocated to segments: |  |  |  |  |  |  |
Reorganization and Restructuring(b) | — |  |  | — |  |  | (14.6) |  |  | (34.0) |
Acquisitions and dispositions(c) | — |  |  | — |  |  | (56.4) |  |  | (66.3) |
Argentina highly inflationary impact(d) | — |  |  | — |  |  | (30.3) |  |  | (27.1) |
Change in allowance estimate(e) | — |  |  | — |  |  | — |  |  | (16.0) |
Chile antitrust matter(f) | — |  |  | — |  |  | (0.4) |  |  | (1.1) |
Reporting compliance(g) | — |  |  | — |  |  | (0.7) |  |  | — |
Total | $ | 3,629.0 |  |  | 3,344.6 |  |  | $ | 323.1 |  |  | 218.4 |
(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. Due to the unique circumstances around the charges related to these actions, they have not been allocated to segment results. (c)Certain acquisition and disposition 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 for further details. (f)See details regarding the Chile antitrust matter at Note 14. (g)Costs (primarily third party expenses) related to material weakness remediation. Additional information provided at page 45.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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