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v3.26.1

Debt | 6 Months Ended
--- | ---
Jun. 30, 2026
Debt Disclosure [Abstract] |
Debt | Debt
| June 30, |  | December 31,
(In millions) | 2026 |  | 2025
Debt: |  |  |
Short-term borrowings | $ | 248.8 |  |  | 241.1 |
Total short-term borrowings | $ | 248.8 |  |  | 241.1 |
Long-term debt |  |  |
Bank credit facilities: |  |  |
Term loans(a) | $ | 1,218.5 |  |  | 1,223.3 |
Senior unsecured notes(b) | 1,391.7 |  |  | 1,390.4 |
Revolving Credit Facility | 500.0 |  |  | 420.0 |
Other facilities(c) | 608.6 |  |  | 669.1 |
Financing leases | 274.7 |  |  | 270.4 |
Total long-term debt | $ | 3,993.5 |  |  | 3,973.2 |
Total debt | $ | 4,242.3 |  |  | 4,214.3 |
Included in: |  |  |
Current liabilities | $ | 347.2 |  |  | 404.2 |
Noncurrent liabilities | 3,895.1 |  |  | 3,810.1 |
Total debt | $ | 4,242.3 |  |  | 4,214.3 |
(a)Amounts outstanding are net of unamortized debt costs of $6.5 million as of June 30, 2026 and $1.7 million as of December 31, 2025. (b)Amounts outstanding are net of unamortized debt costs of $8.3 million as of June 30, 2026 and $9.6 million as of December 31, 2025. (c)Includes Other Revolving Credit Facilities of $502 million at June 30, 2026 and $557 million at December 31, 2025. Long-Term Debt Senior Secured Credit Facility In March 2026, we amended our senior secured credit facility (the “Senior Secured Credit Facility”) with Bank of America, N.A., as administrative agent. After the amendment, the Senior Secured Credit Facility consisted of a $1 billion revolving credit facility (the "Revolving Credit Facility") and $1.2 billion of term loans (the "Term Loans"). The amendment also provides for $1.0 billion in a senior secured delayed draw term loan commitment (the "Delayed Draw Term Loan Facility") and up to $600 million of additional revolving commitments ("Upsized Revolver"). The proceeds under the Delayed Draw Term Loan Facility and the Upsized Revolver are intended to be used in the NCR Atleos transaction and are not available for use until the future acquisition date. All loans under the Revolving Credit Facility and the Term Loans mature on March 31, 2031. There are no Term Loan principal payments due in the first four quarters. Thereafter, principal payments for the Term Loans are due quarterly in an amount equal to 0.625% of the initial loan amount for the first eight quarterly installment payments and 1.25% for subsequent payments with a final lump sum payment due on March 31, 2031. Interest rates for the Senior Secured Credit Facility are based on the Secured Overnight Financing Rate ("SOFR") plus a margin or an alternate base rate plus a margin. The Revolving Credit Facility allows us to borrow money or issue letters of credit (or otherwise satisfy credit needs) on a revolving basis over the term of the facility. As of June 30, 2026, $500 million was available under the Revolving Credit Facility. The obligations under the Senior Secured Credit Facility are secured by a first-priority lien on all or substantially all of the assets of the Company and certain of its domestic subsidiaries, including a first-priority lien on equity interests of certain of the Company’s direct and indirect subsidiaries. The Company and certain of its domestic subsidiaries also guarantee the obligations under the Senior Secured Credit Facility. The margin on both SOFR and alternate base rate borrowings under the Senior Secured Credit Facility is based on the Company’s total net debt leverage ratio. The margin on SOFR borrowings, which can range from 1.25% to 1.75%, was 1.50% at June 30, 2026. The margin on alternate base rate borrowings, which can range from 0.25% to 0.75%, was 0.50% as of June 30, 2026. We also pay an annual commitment fee on the unused portion of the Revolving Credit Facility based on the Company’s total net leverage ratio. The commitment fee, which can range from 0.15% to 0.28%, was 0.23% as of June 30, 2026. Senior Unsecured Notes In June 2024, we issued at par five-year senior unsecured notes (the "2029 Senior Unsecured Notes") in the aggregate principal amount of $400 million. The 2029 Senior Unsecured Notes will mature on June 15, 2029 and bear an annual interest rate of 6.5%. The 2029 Senior Unsecured Notes are general unsecured obligations guaranteed by certain of the Company’s existing and future U.S. subsidiaries, which are also guarantors under the Senior Secured Credit Facility. In June 2024, we issued at par eight-year senior unsecured notes (the "2032 Senior Unsecured Notes") in the aggregate principal amount of $400 million. The 2032 Senior Unsecured Notes will mature on June 15, 2032 and bear an annual interest rate of 6.75%. The 2032 Senior Unsecured Notes are general unsecured obligations guaranteed by certain of the Company’s existing and future U.S. subsidiaries, which are also guarantors under the Senior Secured Credit Facility. In October 2017, we issued at par ten-year senior unsecured notes (the "2027 Senior Unsecured Notes") in the aggregate principal amount of $600 million. The 2027 Senior Unsecured Notes will mature on October 15, 2027, bearing an annual interest rate of 4.625%. The 2027 Senior Unsecured Notes are general unsecured obligations guaranteed by certain of the Company’s existing and future U.S. subsidiaries, which are also guarantors under the Senior Secured Credit Facility. The 2027 Senior Unsecured Notes, the 2029 Senior Unsecured Notes and the 2032 Senior Unsecured Notes (the "Senior Unsecured Notes") have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The notes were offered in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The aggregate proceeds from the Senior Secured Credit Facility and the 2027 Senior Unsecured Notes were used in part to repay certain prior indebtedness and certain fees and expenses related to the closing of certain transactions. The remaining borrowings were used for working capital needs, capital expenditures, acquisitions and other general corporate purposes. The aggregate proceeds from the 2029 Senior Unsecured Notes and 2032 Senior Unsecured Notes were used to redeem the $400 million outstanding principal amount of our five-year senior unsecured notes issued in June 2020 (the "2025 Senior Unsecured Notes") prior to maturity and to repay a portion of the outstanding indebtedness under our Revolving Credit Facility. Before applying a portion of the net proceeds from this offering to redeem or repurchase the 2025 Senior Unsecured Notes as described above, we used such portion of the net proceeds for general corporate purposes and to temporarily repay additional amounts outstanding under our Revolving Credit Facility. Other Facilities Other facilities consists primarily of revolving credit facilities in our North America, Latin America and Europe segments ("Other Revolving Credit Facilities"). On an aggregate basis, borrowings under these facilities total $716 million with an additional $415 million available as of June 30, 2026, including $214 million in Short-term borrowings and $502 million in Other long-term debt. Maturity dates of the long-term facilities range from January 2028 to June 2029 and interest rates range from 4.60% to 5.00%. Borrowings under these facilities are secured by cash and certain receivables held by Brink's. In June 2026, we increased the capacity of the largest of these credit facilities from $500 million to $750 million. The Senior Secured Credit Facility, Senior Unsecured Notes, Other Revolving Credit Facilities, and other debt facilities contain various financial and other covenants. The covenants, among other things, limit our ability to provide liens, restrict fundamental changes, limit transactions with affiliates and unrestricted subsidiaries, restrict changes to our fiscal year and to organizational documents, limit asset dispositions, limit the use of proceeds from asset sales, limit sale and leaseback transactions, limit investments, limit the ability to incur debt, restrict certain payments to shareholders, limit negative pledges, limit the ability to change the nature of our business, provide for a maximum consolidated net leverage ratio and provide for minimum coverage of interest costs. If we were not to comply with the terms of our various financing agreements, the repayment terms could be accelerated and the commitments could be withdrawn. An acceleration of the repayment terms under one agreement could trigger the acceleration of the repayment terms under the other financing agreements. We were in compliance with all of these covenants at June 30, 2026.

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