falsedesktopBCO2020-09-30000007889020000087{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "(In millions except for per share amounts)\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\nCurrent assets:\t\t\nCash and cash equivalents\t592.4\t311.0\nRestricted cash\t203.0\t158.0\nAccounts receivable net\t708.0\t635.6\nPrepaid expenses and other\t201.5\t128.0\nTotal current assets\t1704.9\t1232.6\nRight-of-use assets net\t325.9\t270.3\nProperty and equipment net\t812.1\t763.3\nGoodwill\t1184.4\t784.6\nOther intangibles\t419.8\t272.5\nDeferred income taxes\t271.1\t273.5\nOther\t184.9\t167.0\nTotal assets\t4903.1\t3763.8\nLIABILITIES AND EQUITY\t\t\nCurrent liabilities:\t\t\nShort-term borrowings\t13.3\t14.3\nCurrent maturities of long-term debt\t107.3\t74.5\nAccounts payable\t173.8\t184.5\nAccrued liabilities\t778.7\t628.4\nRestricted cash held for customers\t93.3\t100.3\nTotal current liabilities\t1166.4\t1002.0\nLong-term debt\t2407.0\t1554.8\nAccrued pension costs\t264.6\t228.9\nRetirement benefits other than pensions\t332.6\t347.8\nLease liabilities\t269.1\t218.4\nDeferred income taxes\t45.9\t21.2\nOther\t245.6\t183.1\nTotal liabilities\t4731.2\t3556.2\nCommitments and contingent liabilities (notes 4 8 and 14)\t\t\nEquity:\t\t\nThe Brink's Company (\"Brink's\") shareholders:\t\t\nCommon stock par value $1 per share:\t\t\nShares authorized: 100.0\t\t\nShares issued and outstanding: 2020 - 49.4; 2019 - 50.1\t49.4\t50.1\nCapital in excess of par value\t660.0\t663.3\nRetained earnings\t389.7\t457.4\nAccumulated other comprehensive loss\t(1009.1)\t(979.0)\nBrink's shareholders\t90.0\t191.8\nNoncontrolling interests\t81.9\t15.8\nTotal equity\t171.9\t207.6\nTotal liabilities and equity\t4903.1\t3763.8\n", "q10k_tbl_1": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions except for per share amounts)\t2020\t2019\t2020\t2019\nRevenues\t970.5\t928.4\t2669.3\t2747.4\nCosts and expenses:\t\t\t\t\nCost of revenues\t742.9\t714.4\t2120.2\t2125.6\nSelling general and administrative expenses\t141.4\t155.0\t429.1\t451.3\nTotal costs and expenses\t884.3\t869.4\t2549.3\t2576.9\nOther operating income (expense)\t(9.8)\t(6.5)\t(18.4)\t(7.0)\nOperating profit\t76.4\t52.5\t101.6\t163.5\nInterest expense\t(27.1)\t(22.9)\t(70.3)\t(68.6)\nInterest and other nonoperating income (expense)\t(12.8)\t(7.8)\t(31.4)\t(22.1)\nIncome (loss) from continuing operations before tax\t36.5\t21.8\t(0.1)\t72.8\nProvision for income taxes\t58.9\t14.7\t3.5\t37.1\nIncome (loss) from continuing operations\t(22.4)\t7.1\t(3.6)\t35.7\nLoss from discontinued operations net of tax\t(0.1)\t(0.4)\t(0.9)\t(0.5)\nNet income (loss)\t(22.5)\t6.7\t(4.5)\t35.2\nLess net income attributable to noncontrolling interests\t1.4\t1.3\t4.7\t3.6\nNet income (loss) attributable to Brink's\t(23.9)\t5.4\t(9.2)\t31.6\nAmounts attributable to Brink's\t\t\t\t\nContinuing operations\t(23.8)\t5.8\t(8.3)\t32.1\nDiscontinued operations\t(0.1)\t(0.4)\t(0.9)\t(0.5)\nNet income (loss) attributable to Brink's\t(23.9)\t5.4\t(9.2)\t31.6\nIncome (loss) per share attributable to Brink's common shareholders(a):\t\t\t\t\nBasic:\t\t\t\t\nContinuing operations\t(0.47)\t0.11\t(0.17)\t0.64\nDiscontinued operations\t0\t(0.01)\t(0.02)\t(0.01)\nNet income (loss)\t(0.48)\t0.11\t(0.18)\t0.63\nDiluted:\t\t\t\t\nContinuing operations\t(0.47)\t0.11\t(0.17)\t0.63\nDiscontinued operations\t0\t(0.01)\t(0.02)\t(0.01)\nNet income (loss)\t(0.48)\t0.10\t(0.18)\t0.62\nWeighted-average shares\t\t\t\t\nBasic\t50.4\t50.3\t50.6\t50.2\nDiluted\t50.4\t51.1\t50.6\t51.0\nCash dividends paid per common share\t0.15\t0.15\t0.45\t0.45\n", "q10k_tbl_2": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nNet income (loss)\t(22.5)\t6.7\t(4.5)\t35.2\nBenefit plan adjustments:\t\t\t\t\nBenefit plan actuarial gains\t12.4\t9.2\t44.2\t29.5\nBenefit plan prior service costs\t(1.3)\t(1.2)\t(3.7)\t(3.7)\nDeferred profit sharing\t0\t0.1\t0\t0.2\nTotal benefit plan adjustments\t11.1\t8.1\t40.5\t26.0\nForeign currency translation adjustments\t43.6\t(34.9)\t(48.5)\t(25.2)\nGains (losses) on cash flow hedges\t4.1\t(3.9)\t(13.2)\t(22.4)\nOther comprehensive income (loss) before tax\t58.8\t(30.7)\t(21.2)\t(21.6)\nProvision for income taxes\t4.1\t0.7\t6.3\t0.5\nOther comprehensive income (loss)\t54.7\t(31.4)\t(27.5)\t(22.1)\nComprehensive income (loss)\t32.2\t(24.7)\t(32.0)\t13.1\nLess comprehensive income attributable to noncontrolling interests\t3.4\t1.6\t7.3\t4.3\nComprehensive income (loss) attributable to Brink's\t28.8\t(26.3)\t(39.3)\t8.8\n", "q10k_tbl_3": "\tNine Months ended September 30 2020\t\t\t\t\t\t\n(In millions)\tShares\tCommon Stock\tCapital in Excess of Par Value\tRetained Earnings\tAOCI*\tNoncontrolling Interests\tTotal\nBalance as of December 31 2019\t50.1\t50.1\t663.3\t457.4\t(979.0)\t15.8\t207.6\nCumulative effect of change in accounting principle(a)\t0\t0\t0\t(1.7)\t0\t0\t(1.7)\nNet income\t0\t0\t0\t1.8\t0\t1.0\t2.8\nOther comprehensive loss\t0\t0\t0\t0\t(117.0)\t(0.4)\t(117.4)\nDividends to:\t\t\t\t\t\t\t\nBrink's common shareholders ($0.15 per share)\t0\t0\t0\t(7.5)\t0\t0\t(7.5)\nNoncontrolling interests\t0\t0\t0\t0\t0\t(0.7)\t(0.7)\nShare-based compensation:\t\t\t\t\t\t\t\nStock awards and options:\t\t\t\t\t\t\t\nCompensation expense\t0\t0\t7.2\t0\t0\t0\t7.2\nOther share-based benefit transactions\t0.4\t0.4\t(8.6)\t(0.1)\t0\t0\t(8.3)\nBalance as of March 31 2020\t50.5\t50.5\t661.9\t449.9\t(1096.0)\t15.7\t82.0\nNet income\t0\t0\t0\t12.9\t0\t2.3\t15.2\nOther comprehensive income\t0\t0\t0\t0\t34.2\t1.0\t35.2\nDividends to:\t\t\t\t\t\t\t\nBrink's common shareholders ($0.15 per share)\t0\t0\t0\t(7.6)\t0\t0\t(7.6)\nNoncontrolling interests\t0\t0\t0\t0\t0\t(7.2)\t(7.2)\nShare-based compensation:\t\t\t\t\t\t\t\nStock awards and options:\t\t\t\t\t\t\t\nCompensation expense\t0\t0\t5.4\t0\t0\t0\t5.4\nOther share-based benefit transactions\t0\t0\t0.1\t0\t0\t0\t0.1\nAcquisitions with noncontrolling interests\t0\t0\t0\t0\t0\t67.8\t67.8\nBalance as of June 30 2020\t50.5\t50.5\t667.4\t455.2\t(1061.8)\t79.6\t190.9\nNet income (loss)\t0\t0\t0\t(23.9)\t0\t1.4\t(22.5)\nOther comprehensive income\t0\t0\t0\t0\t52.7\t2.0\t54.7\nShares repurchased\t(1.1)\t(1.1)\t(14.9)\t(34.0)\t0\t0\t(50.0)\nDividends to:\t\t\t\t\t\t\t\nBrink's common shareholders ($0.15 per share)\t0\t0\t0\t(7.6)\t0\t0\t(7.6)\nNoncontrolling interests\t0\t0\t0\t0\t0\t(1.0)\t(1.0)\nShare-based compensation:\t\t\t\t\t\t\t\nStock awards and options:\t\t\t\t\t\t\t\nCompensation expense\t0\t0\t8.3\t0\t0\t0\t8.3\nOther share-based benefit transactions\t0\t0\t(0.8)\t0\t0\t0\t(0.8)\nAcquisitions with noncontrolling interests\t0\t0\t0\t0\t0\t(0.1)\t(0.1)\nBalance as of September 30 2020\t49.4\t49.4\t660.0\t389.7\t(1009.1)\t81.9\t171.9\n", "q10k_tbl_4": "\tNine Months ended September 30 2019\t\t\t\t\t\t\n(In millions)\tShares\tCommon Stock\tCapital in Excess of Par Value\tRetained Earnings\tAOCI*\tNoncontrolling Interests\tTotal\nBalance as of December 31 2018\t49.7\t49.7\t628.2\t429.1\t(953.3)\t12.9\t166.6\nCumulative effect of change in accounting principle(a)\t0\t0\t0\t28.8\t(28.8)\t0\t0\nNet income\t0\t0\t0\t13.7\t0\t0.8\t14.5\nOther comprehensive income\t0\t0\t0\t0\t1.9\t0.3\t2.2\nShares repurchased\t0\t0\t(0.5)\t0.5\t0\t0\t0\nDividends to:\t\t\t\t\t\t\t\nBrink's common shareholders ($0.15 per share)\t0\t0\t0\t(7.4)\t0\t0\t(7.4)\nShare-based compensation:\t\t\t\t\t\t\t\nStock awards and options:\t\t\t\t\t\t\t\nCompensation expense\t0\t0\t9.4\t0\t0\t0\t9.4\nOther share-based benefit transactions\t0.2\t0.2\t(6.2)\t0\t0\t0\t(6.0)\nBalance as of March 31 2019\t49.9\t49.9\t630.9\t464.7\t(980.2)\t14.0\t179.3\nNet income\t0\t0\t0\t12.5\t0\t1.5\t14.0\nOther comprehensive income\t0\t0\t0\t0\t7.0\t0.1\t7.1\nDividends to:\t\t\t\t\t\t\t\nBrink's common shareholders ($0.15 per share)\t0\t0\t0\t(7.5)\t0\t0\t(7.5)\nNoncontrolling interests\t0\t0\t0\t0\t0\t(0.2)\t(0.2)\nShare-based compensation:\t\t\t\t\t\t\t\nStock awards and options:\t\t\t\t\t\t\t\nCompensation expense\t0\t0\t16.7\t0\t0\t0\t16.7\nOther share-based benefit transactions\t0.1\t0.1\t0.1\t0\t0\t0\t0.2\nCapital contributions from noncontrolling interest\t0\t0\t0\t0\t0\t0.1\t0.1\nBalance as of June 30 2019\t50.0\t50.0\t647.7\t469.7\t(973.2)\t15.5\t209.7\nNet income\t0\t0\t0\t5.4\t0\t1.3\t6.7\nOther comprehensive income (loss)\t0\t0\t0\t0\t(31.7)\t0.3\t(31.4)\nDividends to:\t\t\t\t\t\t\t\nBrink's common shareholders ($0.15 per share)\t0\t0\t0\t(7.5)\t0\t0\t(7.5)\nNoncontrolling interests\t0\t0\t0\t0\t0\t(1.2)\t(1.2)\nShare-based compensation:\t\t\t\t\t\t\t\nStock awards and options:\t\t\t\t\t\t\t\nCompensation expense\t0\t0\t9.8\t0\t0\t0\t9.8\nOther share-based benefit transactions\t0\t0\t(0.9)\t(0.1)\t0\t0\t(1.0)\nCapital contributions from noncontrolling interest\t0\t0\t0\t0\t0\t0.1\t0.1\nBalance as of September 30 2019\t50.0\t50.0\t656.6\t467.5\t(1004.9)\t16.0\t185.2\n", "q10k_tbl_5": "\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\nCash flows from operating activities:\t\t\nNet income (loss)\t(4.5)\t35.2\nAdjustments to reconcile net income (loss) to net cash provided by operating activities:\t\t\nLoss from discontinued operations net of tax\t0.9\t0.5\nDepreciation and amortization\t152.2\t139.5\nShare-based compensation expense\t20.9\t35.9\nDeferred income taxes\t(6.2)\t(3.6)\nGains on sale of property equipment and marketable securities\t(2.9)\t(2.0)\nGains on business dispositions\t(4.7)\t0\nImpairment losses\t8.3\t3.3\nRetirement benefit funding less than expense:\t\t\nPension\t7.3\t2.6\nOther than pension\t2.7\t11.5\nRemeasurement losses due to Argentina currency devaluations\t5.3\t10.4\nOther operating\t14.1\t11.8\nChanges in operating assets and liabilities net of effects of acquisitions:\t\t\nAccounts receivable and income taxes receivable\t(2.7)\t(36.5)\nAccounts payable income taxes payable and accrued liabilities\t(134.2)\t(15.4)\nRestricted cash held for customers\t37.3\t(41.8)\nCustomer obligations\t(0.7)\t15.4\nPrepaid and other current assets\t(20.0)\t(0.8)\nOther\t14.3\t(14.2)\nNet cash provided by operating activities\t87.4\t151.8\nCash flows from investing activities:\t\t\nCapital expenditures\t(79.1)\t(116.0)\nAcquisitions net of cash acquired\t(427.1)\t(183.9)\nDispositions net of cash disposed\t(3.1)\t0\nMarketable securities:\t\t\nPurchases\t(1.5)\t(2.6)\nSales\t1.7\t1.1\nCash proceeds from sale of property and equipment\t2.3\t3.0\nAcquisition of customer contracts\t(6.7)\t(3.1)\nNet cash used by investing activities\t(513.5)\t(301.5)\nCash flows from financing activities:\t\t\nBorrowings (repayments) of debt:\t\t\nShort-term borrowings\t(3.3)\t(13.1)\nCash supply chain customer debt\t(10.5)\t0\nLong-term revolving credit facilities:\t\t\nBorrowings\t815.4\t714.3\nRepayments\t(866.7)\t(836.5)\nOther long-term debt:\t\t\nBorrowings\t995.2\t334.9\nRepayments\t(70.8)\t(43.7)\nPayment of acquisition-related obligation\t(6.8)\t(4.1)\nDebt financing costs\t(13.1)\t(4.0)\nRepurchase shares of Brink's common stock\t(50.0)\t0\nDividends to:\t\t\nShareholders of Brink's\t(22.7)\t(22.4)\nNoncontrolling interests in subsidiaries\t(8.9)\t(1.4)\nTax withholdings associated with share-based compensation\t(10.3)\t(8.4)\nOther\t1.7\t(2.9)\nNet cash provided by financing activities\t749.2\t112.7\nEffect of exchange rate changes on cash\t3.3\t(16.3)\nCash cash equivalents and restricted cash:\t\t\nIncrease (decrease)\t326.4\t(53.3)\nBalance at beginning of period\t469.0\t479.5\nBalance at end of period\t795.4\t426.2\n", "q10k_tbl_6": "(In millions)\tCore Services\tHigh-Value Services\tOther Security Services\tTotal\nThree months ended September 30 2020\t\t\t\t\nReportable Segments:\t\t\t\t\nNorth America\t243.7\t160.4\t0\t404.1\nSouth America\t87.4\t80.0\t4.6\t172.0\nRest of World\t168.9\t182.2\t43.3\t394.4\nTotal reportable segments\t500.0\t422.6\t47.9\t970.5\nThree months ended September 30 2019\t\t\t\t\nReportable Segments:\t\t\t\t\nNorth America\t275.7\t171.0\t0\t446.7\nSouth America\t125.6\t101.1\t2.3\t229.0\nRest of World\t87.6\t126.8\t34.5\t248.9\nTotal reportable segments\t488.9\t398.9\t36.8\t924.6\nNot Allocated to Segments:\t\t\t\t\nAcquisitions and dispositions\t0\t(0.2)\t0\t(0.2)\nInternal loss(a)\t0\t4.0\t0\t4.0\nTotal\t488.9\t402.7\t36.8\t928.4\nNine months ended September 30 2020\t\t\t\t\nReportable Segments:\t\t\t\t\nNorth America\t721.9\t475.6\t0\t1197.5\nSouth America\t274.9\t241.5\t12.4\t528.8\nRest of World\t379.9\t452.7\t110.4\t943.0\nTotal reportable segments\t1376.7\t1169.8\t122.8\t2669.3\nNine months ended September 30 2019\t\t\t\t\nReportable Segments:\t\t\t\t\nNorth America\t832.7\t491.0\t0\t1323.7\nSouth America\t363.6\t313.2\t7.7\t684.5\nRest of World\t263.7\t370.5\t101.5\t735.7\nTotal reportable segments\t1460.0\t1174.7\t109.2\t2743.9\nNot Allocated to Segments:\t\t\t\t\nAcquisitions and dispositions\t0\t(0.5)\t0\t(0.5)\nInternal loss(a)\t0\t4.0\t0\t4.0\nTotal\t1460.0\t1178.2\t109.2\t2747.4\n", "q10k_tbl_7": "(In millions)\tReceivables\tContract Asset\tContract Liability\nOpening (January 1 2020)\t635.6\t1.9\t12.8\nClosing (September 30 2020)\t708.0\t1.3\t9.4\nIncrease (decrease)\t72.4\t(0.6)\t(3.4)\n", "q10k_tbl_8": "\tRevenues\t\tOperating Profit\t\n\tThree Months Ended September 30\t\tThree Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nReportable Segments:\t\t\t\t\nNorth America\t404.1\t446.7\t36.9\t38.7\nSouth America\t172.0\t229.0\t38.9\t59.4\nRest of World\t394.4\t248.9\t54.3\t32.2\nTotal reportable segments\t970.5\t924.6\t130.1\t130.3\nReconciling Items:\t\t\t\t\nCorporate expenses:\t\t\t\t\nGeneral administrative and other expenses\t0\t0\t(26.6)\t(26.2)\nForeign currency transaction gains (losses)\t0\t0\t(7.9)\t(0.4)\nReconciliation of segment policies to GAAP(a)\t0\t0\t4.3\t(1.3)\nOther items not allocated to segments:\t\t\t\t\nReorganization and Restructuring\t0\t0\t(5.1)\t(6.4)\nAcquisitions and dispositions\t0\t(0.2)\t(16.2)\t(24.0)\nArgentina highly inflationary impact\t0\t0\t(3.2)\t(7.9)\nInternal loss(b)\t0\t4.0\t0.9\t(11.3)\nReporting compliance(c)\t0\t0\t0.1\t(0.3)\nTotal\t970.5\t928.4\t76.4\t52.5\n", "q10k_tbl_9": "\tRevenues\t\tOperating Profit\t\n\tNine Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nReportable Segments:\t\t\t\t\nNorth America\t1197.5\t1323.7\t87.8\t129.1\nSouth America\t528.8\t684.5\t113.6\t147.4\nRest of World\t943.0\t735.7\t100.7\t82.2\nTotal reportable segments\t2669.3\t2743.9\t302.1\t358.7\nReconciling Items:\t\t\t\t\nCorporate expenses:\t\t\t\t\nGeneral administrative and other expenses\t0\t0\t(78.5)\t(85.8)\nForeign currency transaction gains (losses)\t0\t0\t(11.5)\t0.2\nReconciliation of segment policies to GAAP(a)\t0\t0\t24.1\t2.9\nOther items not allocated to segments:\t\t\t\t\nReorganization and Restructuring\t0\t0\t(49.7)\t(20.5)\nAcquisitions and dispositions\t0\t(0.5)\t(66.2)\t(63.8)\nArgentina highly inflationary impact\t0\t0\t(8.4)\t(12.3)\nInternal loss(b)\t0\t4.0\t(9.9)\t(13.9)\nReporting compliance(c)\t0\t0\t(0.4)\t(2.0)\nTotal\t2669.3\t2747.4\t101.6\t163.5\n", "q10k_tbl_10": "\tSeptember 30\tDecember 31\n(in millions)\t2020\t2019\nAssets held by Reportable Segment\t\t\nNorth America\t1614.1\t1683.0\nSouth America\t707.5\t806.1\nRest of World\t2173.8\t1006.8\nTotal reportable segments\t4495.4\t3495.9\nCorporate items\t407.7\t267.9\nTotal\t4903.1\t3763.8\n", "q10k_tbl_11": "\tU.S. Plans\t\tNon-U.S. Plans\t\tTotal\t\n(In millions)\t2020\t2019\t2020\t2019\t2020\t2019\nThree months ended September 30\t\t\t\t\t\t\nService cost\t0\t0\t1.8\t2.5\t1.8\t2.5\nInterest cost on projected benefit obligation\t6.7\t8.5\t3.1\t2.6\t9.8\t11.1\nReturn on assets - expected\t(11.6)\t(12.6)\t(3.1)\t(2.5)\t(14.7)\t(15.1)\nAmortization of losses\t7.3\t4.9\t1.4\t1.1\t8.7\t6.0\nAmortization of prior service credit\t0\t0\t0\t(0.1)\t0\t(0.1)\nSettlement loss\t0\t0\t0.6\t0.6\t0.6\t0.6\nNet periodic pension cost\t2.4\t0.8\t3.8\t4.2\t6.2\t5.0\nNine months ended September 30\t\t\t\t\t\t\nService cost\t0\t0\t7.7\t7.4\t7.7\t7.4\nInterest cost on projected benefit obligation\t20.0\t25.6\t8.4\t7.8\t28.4\t33.4\nReturn on assets - expected\t(34.7)\t(38.0)\t(8.8)\t(7.7)\t(43.5)\t(45.7)\nAmortization of losses\t21.4\t14.7\t3.8\t3.1\t25.2\t17.8\nSettlement loss\t0\t0\t1.1\t1.5\t1.1\t1.5\nNet periodic pension cost\t6.7\t2.3\t12.2\t12.1\t18.9\t14.4\n", "q10k_tbl_12": "\tUMWA Plans\t\tBlack Lung and Other Plans\t\tTotal\t\n(In millions)\t2020\t2019\t2020\t2019\t2020\t2019\nThree months ended September 30\t\t\t\t\t\t\nInterest cost on accumulated postretirement benefit obligations\t3.2\t4.1\t0.9\t0.9\t4.1\t5.0\nReturn on assets - expected\t(3.3)\t(3.4)\t0\t0\t(3.3)\t(3.4)\nAmortization of losses\t4.2\t3.9\t2.1\t1.2\t6.3\t5.1\nAmortization of prior service (credit) cost\t(1.2)\t(1.2)\t0\t(0.1)\t(1.2)\t(1.3)\nNet periodic postretirement cost\t2.9\t3.4\t3.0\t2.0\t5.9\t5.4\nNine months ended September 30\t\t\t\t\t\t\nService cost\t0\t0\t0.1\t0.1\t0.1\t0.1\nInterest cost on accumulated postretirement benefit obligations\t9.6\t13.2\t2.8\t2.7\t12.4\t15.9\nReturn on assets - expected\t(9.8)\t(10.0)\t0\t0\t(9.8)\t(10.0)\nAmortization of losses\t12.3\t12.8\t6.2\t3.5\t18.5\t16.3\nAmortization of prior service credit\t(3.5)\t(3.5)\t(0.2)\t(0.3)\t(3.7)\t(3.8)\nNet periodic postretirement cost\t8.6\t12.5\t8.9\t6.0\t17.5\t18.5\n", "q10k_tbl_13": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t2020\t\t2019\nContinuing operations\t\t\t\t\t\nProvision for income taxes (in millions)\t58.9\t14.7\t3.5\t\t37.1\nEffective tax rate\t161.4%\t67.4%\t(3500.0\t%)\t51.0%\n", "q10k_tbl_14": "(In millions)\tEstimated Fair Value at Acquisition Date\nFair value of purchase consideration\t\nCash paid through September 30 2020\t672.3\nContingent consideration\t38.0\nLiabilities assumed from seller\t12.2\nReceivable from seller\t(2.8)\nFair value of purchase consideration\t719.7\nFair value of net assets acquired\t\nCash\t218.8\nRestricted cash\t30.1\nAccounts receivable\t136.8\nOther current assets\t25.5\nProperty and equipment net\t123.4\nRight-of-use assets net\t73.7\nIntangible assets(a)\t175.0\nGoodwill(b)\t424.0\nOther noncurrent assets\t19.3\nCurrent liabilities\t(286.3)\nLease liabilities\t(59.5)\nOther noncurrent liabilities\t(93.4)\nFair value of net assets acquired\t787.4\nLess: Fair value of noncontrolling interest\t(67.7)\nFair value of purchase consideration\t719.7\n", "q10k_tbl_15": "(In millions)\tFair Value at Acquisition Date\nFair value of purchase consideration\t\nCash paid through September 30 2020\t135.7\nIndemnification asset\t(1.9)\nFair value of purchase consideration\t133.8\nFair value of net assets acquired\t\nCash\t1.4\nAccounts receivable\t8.9\nOther current assets\t0.5\nProperty and equipment net\t2.4\nIntangible assets(a)\t49.0\nGoodwill(b)\t85.1\nOther noncurrent assets\t5.8\nCurrent liabilities\t(11.4)\nNoncurrent liabilities\t(7.9)\nFair value of net assets acquired\t133.8\n", "q10k_tbl_16": "(In millions)\tEstimated Fair Value at Acquisition Date\nFair value of purchase consideration\t\nCash paid through September 30 2020\t60.6\nContingent consideration\t1.6\nIndemnification asset\t(13.3)\nFair value of purchase consideration\t48.9\nFair value of net assets acquired\t\nCash\t6.5\nAccounts receivable\t4.5\nProperty and equipment net\t7.1\nIntangible assets(a)\t24.3\nGoodwill(b)\t34.3\nOther current and noncurrent assets\t2.0\nCurrent liabilities\t(15.2)\nNoncurrent liabilities\t(14.6)\nFair value of net assets acquired\t48.9\n", "q10k_tbl_17": "(In millions)\tRevenue\tNet income (loss) attributable to Brink's\nThree months ended September 30 2020\t\t\nG4S\t156.1\t5.2\nTotal\t156.1\t5.2\nNine months ended September 30 2020\t\t\nG4S\t285.0\t8.2\nTotal\t285.0\t8.2\n", "q10k_tbl_18": "(In millions)\tRevenue\tNet income (loss) attributable to Brink's\nPro forma results of Brink's for the three months ended September 30\t\t\n2020\t\t\nBrink's as reported\t970.5\t(23.9)\nG4S(a)\t5.3\t(0.1)\nTotal\t975.8\t(24.0)\n2019\t\t\nBrink's as reported\t928.4\t5.4\nG4S(a)\t185.0\t2.7\nOther acquisitions(a)\t5.0\t0.7\nTotal\t1118.4\t8.8\nPro forma results of Brink's for the nine months ended September 30\t\t\n2020\t\t\nBrink's as reported\t2669.3\t(9.2)\nG4S(a)\t192.0\t(4.2)\nTotal\t2861.3\t(13.4)\n2019\t\t\nBrink's as reported\t2747.4\t31.6\nG4S(a)\t555.0\t8.0\nRodoban(a)\t0.6\t0\nOther 2019 acquisitions(a)\t26.8\t1.7\nTotal\t3329.8\t41.3\n", "q10k_tbl_19": "\tAmounts Arising During the Current Period\t\tAmounts Reclassified to Net Income (Loss)\t\t\n(In millions)\tPretax\tIncome Tax\tPretax\tIncome Tax\tTotal Other Comprehensive Income (Loss)\nThree months ended September 30 2020\t\t\t\t\t\nAmounts attributable to Brink's:\t\t\t\t\t\nBenefit plan adjustments\t(3.3)\t0.4\t14.4\t(3.4)\t8.1\nForeign currency translation adjustments(b)\t41.6\t0\t0\t0\t41.6\nGains (losses) on cash flow hedges\t2.0\t(0.6)\t2.1\t(0.5)\t3.0\n\t40.3\t(0.2)\t16.5\t(3.9)\t52.7\nAmounts attributable to noncontrolling interests:\t\t\t\t\t\nForeign currency translation adjustments\t2.0\t0\t0\t0\t2.0\n\t2.0\t0\t0\t0\t2.0\nTotal\t\t\t\t\t\nBenefit plan adjustments(a)\t(3.3)\t0.4\t14.4\t(3.4)\t8.1\nForeign currency translation adjustments(b)\t43.6\t0\t0\t0\t43.6\nGains (losses) on cash flow hedges(c)\t2.0\t(0.6)\t2.1\t(0.5)\t3.0\n\t42.3\t(0.2)\t16.5\t(3.9)\t54.7\nThree months ended September 30 2019\t\t\t\t\t\nAmounts attributable to Brink's:\t\t\t\t\t\nBenefit plan adjustments\t(2.2)\t0.8\t10.3\t(2.5)\t6.4\nForeign currency translation adjustments\t(35.2)\t0\t0\t0\t(35.2)\nGains (losses) on cash flow hedges\t3.5\t(1.5)\t(7.4)\t2.5\t(2.9)\n\t(33.9)\t(0.7)\t2.9\t0\t(31.7)\nAmounts attributable to noncontrolling interests:\t\t\t\t\t\nForeign currency translation adjustments\t0.3\t0\t0\t0\t0.3\n\t0.3\t0\t0\t0\t0.3\nTotal\t\t\t\t\t\nBenefit plan adjustments(a)\t(2.2)\t0.8\t10.3\t(2.5)\t6.4\nForeign currency translation adjustments\t(34.9)\t0\t0\t0\t(34.9)\nGains (losses) on cash flow hedges(c)\t3.5\t(1.5)\t(7.4)\t2.5\t(2.9)\n\t(33.6)\t(0.7)\t2.9\t0\t(31.4)\n", "q10k_tbl_20": "\tAmounts Arising During the Current Period\t\tAmounts Reclassified to Net Income (Loss)\t\t\n(In millions)\tPretax\tIncome Tax\tPretax\tIncome Tax\tTotal Other Comprehensive Income (Loss)\nNine months ended September 30 2020\t\t\t\t\t\nAmounts attributable to Brink's:\t\t\t\t\t\nBenefit plan adjustments\t(0.6)\t0.7\t41.1\t(9.8)\t31.4\nForeign currency translation adjustments(b)\t(51.1)\t0\t0\t0\t(51.1)\nGains (losses) on cash flow hedges\t10.6\t(5.8)\t(23.8)\t8.6\t(10.4)\n\t(41.1)\t(5.1)\t17.3\t(1.2)\t(30.1)\nAmounts attributable to noncontrolling interests:\t\t\t\t\t\nForeign currency translation adjustments\t2.6\t0\t0\t0\t2.6\n\t2.6\t0\t0\t0\t2.6\nTotal\t\t\t\t\t\nBenefit plan adjustments(a)\t(0.6)\t0.7\t41.1\t(9.8)\t31.4\nForeign currency translation adjustments(b)\t(48.5)\t0\t0\t0\t(48.5)\nGains (losses) on cash flow hedges(c)\t10.6\t(5.8)\t(23.8)\t8.6\t(10.4)\n\t(38.5)\t(5.1)\t17.3\t(1.2)\t(27.5)\nNine months ended September 30 2019\t\t\t\t\t\nAmounts attributable to Brink's:\t\t\t\t\t\nBenefit plan adjustments\t(5.8)\t1.4\t31.8\t(7.6)\t19.8\nForeign currency translation adjustments\t(25.9)\t0\t0\t0\t(25.9)\nGains (losses) on cash flow hedges\t(16.0)\t3.5\t(6.4)\t2.2\t(16.7)\n\t(47.7)\t4.9\t25.4\t(5.4)\t(22.8)\nAmounts attributable to noncontrolling interests:\t\t\t\t\t\nForeign currency translation adjustments\t0.7\t0\t0\t0\t0.7\n\t0.7\t0\t0\t0\t0.7\nTotal\t\t\t\t\t\nBenefit plan adjustments(a)\t(5.8)\t1.4\t31.8\t(7.6)\t19.8\nForeign currency translation adjustments\t(25.2)\t0\t0\t0\t(25.2)\nGains (losses) on cash flow hedges(c)\t(16.0)\t3.5\t(6.4)\t2.2\t(16.7)\n\t(47.0)\t4.9\t25.4\t(5.4)\t(22.1)\n", "q10k_tbl_21": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nTotal net periodic retirement benefit cost included in:\t\t\t\t\nCost of revenues\t1.3\t1.9\t6.3\t5.7\nSelling general and administrative expenses\t0.5\t0.6\t1.5\t1.8\nInterest and other nonoperating income (expense)\t10.3\t7.9\t28.6\t25.4\n", "q10k_tbl_22": "(In millions)\tBenefit Plan Adjustments\tForeign Currency Translation Adjustments\tGains (Losses) on Cash Flow Hedges\tTotal\nBalance as of December 31 2019\t(583.0)\t(382.8)\t(13.2)\t(979.0)\nOther comprehensive income (loss) before reclassifications\t0.1\t(51.1)\t4.8\t(46.2)\nAmounts reclassified from accumulated other comprehensive loss to net income\t31.3\t0\t(15.2)\t16.1\nOther comprehensive income (loss) attributable to Brink's\t31.4\t(51.1)\t(10.4)\t(30.1)\nBalance as of September 30 2020\t(551.6)\t(433.9)\t(23.6)\t(1009.1)\n", "q10k_tbl_23": "(In millions)\tSeptember 30 2020\tDecember 31 2019\n600 million Senior unsecured notes\t\t\nCarrying value\t600.0\t600.0\nFair value\t611.7\t624.7\n400 million Senior unsecured notes\t\t\nCarrying value\t400.0\t0\nFair value\t410.5\t0\n", "q10k_tbl_24": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nDerivative instrument gains (losses) included in other operating income (expense)\t(3.4)\t5.8\t0.5\t8.3\nDerivative instrument losses included in other nonoperating income (expense)(a)\t(0.5)\t0\t(8.6)\t0\n", "q10k_tbl_25": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nDerivative instrument gains included in other operating income (expense)\t0.8\t8.9\t30.6\t10.3\nOffsetting transaction losses\t(0.8)\t(8.9)\t(30.6)\t(10.3)\nDerivative instrument losses included in interest expense\t(0.5)\t(1.3)\t(1.5)\t(4.0)\nNet derivative instrument gains\t0.3\t7.6\t29.1\t6.3\n", "q10k_tbl_26": "\tSeptember 30\tDecember 31\n(In millions)\t2020\t2019\nDebt:\t\t\nShort-term borrowings\t\t\nRestricted cash borrowings(a)\t0\t10.3\nOther\t13.3\t4.0\nTotal short-term borrowings\t13.3\t14.3\nLong-term debt\t\t\nBank credit facilities:\t\t\nTerm loan A(b)\t1309.4\t767.0\nSenior unsecured notes(c)\t986.9\t592.9\nRevolving Credit Facility\t62.1\t115.0\nOther\t9.7\t4.9\nFinancing leases\t146.2\t149.5\nTotal long-term debt\t2514.3\t1629.3\nTotal debt\t2527.6\t1643.6\nIncluded in:\t\t\nCurrent liabilities\t120.6\t88.8\nNoncurrent liabilities\t2407.0\t1554.8\nTotal debt\t2527.6\t1643.6\n", "q10k_tbl_27": "(In millions)\t\nDecember 31 2019\t30.2\nCumulative effect of change in accounting principle\t2.3\nProvision for uncollectible accounts receivable(a)\t11.2\nWrite-offs less recoveries\t(3.9)\nForeign currency exchange effects\t(0.3)\nSeptember 30 2020\t39.5\n", "q10k_tbl_28": "\tCompensation Expense\t\tCompensation Expense\t\n\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nPerformance share units\t5.5\t7.0\t12.5\t21.6\nRestricted stock units\t1.5\t1.4\t4.5\t5.3\nDeferred stock units and fees paid in stock\t0.3\t0.3\t0.9\t0.9\nPerformance-based stock options\t0.5\t0.8\t1.7\t7.3\nTime-based vesting stock options\t0.5\t0.3\t1.3\t0.8\nCash based awards\t0.4\t0\t0.8\t0\nShare-based payment expense\t8.7\t9.8\t21.7\t35.9\nIncome tax benefit\t(1.9)\t(2.3)\t(4.7)\t(8.3)\nShare-based payment expense net of tax\t6.8\t7.5\t17.0\t27.6\n", "q10k_tbl_29": "\tShares (in thousands)\tWeighted-Average Grant-Date Fair Value\nOutstanding balance as of December 31 2019\t1191.1\t11.52\nGranted\t0\t0\nForfeited\t0\t0\nExercised\t0\t0\nOutstanding balance as of September 30 2020\t1191.1\t11.52\n", "q10k_tbl_30": "\tShares (in thousands)\tWeighted-Average Grant-Date Fair Value\nOutstanding balance as of December 31 2019\t127.0\t21.56\nGranted\t80.8\t21.10\nForfeited\t0\t0\nExercised\t0\t0\nOutstanding balance as of September 30 2020\t207.8\t21.38\n", "q10k_tbl_31": "\tShares (in thousands)\tWeighted-Average Grant-Date Fair Value\nNonvested balance as of December 31 2019\t172.7\t71.87\nGranted\t93.2\t71.78\nForfeited\t(11.3)\t78.81\nConversion to cash settled awards(a)\t(1.3)\t72.80\nVested\t(84.9)\t67.41\nNonvested balance as of September 30 2020\t168.4\t73.60\n", "q10k_tbl_32": "\tShares (in thousands)\tWeighted-Average Grant-Date Fair Value\nNonvested balance as of December 31 2019\t564.2\t70.10\nGranted\t248.4\t83.68\nForfeited\t(22.0)\t76.23\nConversion to cash settled awards(a)\t(4.6)\t65.42\nVested(b)\t(204.3)\t56.72\nNonvested balance as of September 30 2020\t581.7\t80.40\n", "q10k_tbl_33": "\tShares (in thousands)\tWeighted-Average Grant-Date Fair Value\nNonvested balance as of December 31 2019\t12.1\t79.69\nGranted\t21.6\t40.46\nVested\t(12.1)\t79.69\nNonvested balance as of September 30 2020\t21.6\t40.46\n", "q10k_tbl_34": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nWeighted-average shares:\t\t\t\t\nBasic(a)\t50.4\t50.3\t50.6\t50.2\nEffect of dilutive stock awards and options\t0\t0.8\t0\t0.8\nDiluted\t50.4\t51.1\t50.6\t51.0\nAntidilutive stock awards and options excluded from denominator\t1.5\t0.1\t1.5\t0.1\n", "q10k_tbl_35": "\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\nCash paid for:\t\t\nInterest\t54.1\t56.0\nIncome taxes net\t42.9\t33.4\n", "q10k_tbl_36": "\tSeptember 30\tDecember 31\n(In millions)\t2020\t2019\nCash and cash equivalents\t592.4\t311.0\nRestricted cash\t203.0\t158.0\nTotal cash cash equivalents and restricted cash in the condensed consolidated statements of cash flows\t795.4\t469.0\n", "q10k_tbl_37": "(In millions)\tSeverance Costs\tOther\tTotal\nBalance as of January 1 2020\t7.0\t0\t7.0\nExpense\t51.7\t4.7\t56.4\nPayments and utilization\t(44.9)\t(4.7)\t(49.6)\nAccrual adjustment\t(6.1)\t0\t(6.1)\nForeign currency exchange effects\t(0.6)\t0\t(0.6)\nBalance as of September 30 2020\t7.1\t0\t7.1\n", "q10k_tbl_38": "\tThree Months Ended September 30\t\t%\tNine Months Ended September 30\t\t%\n(In millions except for per share amounts)\t2020\t2019\tChange\t2020\t2019\tChange\nGAAP\t\t\t\t\t\t\nRevenues\t970.5\t928.4\t5\t2669.3\t2747.4\t(3)\nCost of revenues\t742.9\t714.4\t4\t2120.2\t2125.6\t0\nSelling general and administrative expenses\t141.4\t155.0\t(9)\t429.1\t451.3\t(5)\nOperating profit (loss)\t76.4\t52.5\t46\t101.6\t163.5\t(38)\nIncome from continuing operations(a)\t(23.8)\t5.8\tunfav\t(8.3)\t32.1\tunfav\nDiluted EPS from continuing operations(a)\t(0.47)\t0.11\tunfav\t(0.17)\t0.63\tunfav\nNon-GAAP(b)\t\t\t\t\t\t\nNon-GAAP revenues\t970.5\t924.6\t5\t2669.3\t2743.9\t(3)\nNon-GAAP operating profit\t99.9\t102.4\t(2)\t236.2\t276.0\t(14)\nNon-GAAP income from continuing operations(a)\t43.4\t53.6\t(19)\t104.3\t138.5\t(25)\nNon-GAAP diluted EPS from continuing operations(a)\t0.86\t1.05\t(18)\t2.05\t2.72\t(25)\n", "q10k_tbl_39": "\t\tOrganic\tAcquisitions /\t\t\t% Change\t\n(In millions)\t3Q'19\tChange\tDispositions(a)\tCurrency(b)\t3Q'20\tTotal\tOrganic\nRevenues:\t\t\t\t\t\t\t\nNorth America\t446.7\t(32.7)\t2.3\t(12.2)\t404.1\t(10)\t(7)\nSouth America\t229.0\t(15.7)\t10.8\t(52.1)\t172.0\t(25)\t(7)\nRest of World\t248.9\t(30.9)\t167.8\t8.6\t394.4\t58\t(12)\nSegment revenues(e)\t924.6\t(79.3)\t180.9\t(55.7)\t970.5\t5\t(9)\nOther items not allocated to segments(d)\t3.8\t(4.0)\t0.2\t0\t0\t(100)\tunfav\nRevenues - GAAP\t928.4\t(83.3)\t181.1\t(55.7)\t970.5\t5\t(9)\nOperating profit:\t\t\t\t\t\t\t\nNorth America\t38.7\t(0.1)\t0.1\t(1.8)\t36.9\t(5)\t0\nSouth America\t59.4\t(8.3)\t1.2\t(13.4)\t38.9\t(35)\t(14)\nRest of World\t32.2\t2.2\t19.5\t0.4\t54.3\t69\t7\nSegment operating profit\t130.3\t(6.2)\t20.8\t(14.8)\t130.1\t0\t(5)\nCorporate(c)\t(27.9)\t5.3\t0\t(7.6)\t(30.2)\t8\t(19)\nOperating profit - non-GAAP\t102.4\t(0.9)\t20.8\t(22.4)\t99.9\t(2)\t(1)\nOther items not allocated to segments(d)\t(49.9)\t15.8\t6.8\t3.8\t(23.5)\t(53)\t(32)\nOperating profit - GAAP\t52.5\t14.9\t27.6\t(18.6)\t76.4\t46\t28\n", "q10k_tbl_40": "\t\tOrganic\tAcquisitions /\t\t\t% Change\t\n(In millions)\tYTD '19\tChange\tDispositions(a)\tCurrency(b)\tYTD '20\tTotal\tOrganic\nRevenues:\t\t\t\t\t\t\t\nNorth America\t1323.7\t(106.3)\t13.3\t(33.2)\t1197.5\t(10)\t(8)\nSouth America\t684.5\t(15.4)\t18.0\t(158.3)\t528.8\t(23)\t(2)\nRest of World\t735.7\t(91.7)\t308.4\t(9.4)\t943.0\t28\t(12)\nSegment revenues(e)\t2743.9\t(213.4)\t339.7\t(200.9)\t2669.3\t(3)\t(8)\nOther items not allocated to segments(d)\t3.5\t(4.0)\t0.5\t0\t0\t(100)\tunfav\nRevenues - GAAP\t2747.4\t(217.4)\t340.2\t(200.9)\t2669.3\t(3)\t(8)\nOperating profit:\t\t\t\t\t\t\t\nNorth America\t129.1\t(37.6)\t0.7\t(4.4)\t87.8\t(32)\t(29)\nSouth America\t147.4\t3.6\t2.8\t(40.2)\t113.6\t(23)\t2\nRest of World\t82.2\t(15.9)\t36.6\t(2.2)\t100.7\t23\t(19)\nSegment operating profit\t358.7\t(49.9)\t40.1\t(46.8)\t302.1\t(16)\t(14)\nCorporate(c)\t(82.7)\t28.6\t0\t(11.8)\t(65.9)\t(20)\t(35)\nOperating profit - non-GAAP\t276.0\t(21.3)\t40.1\t(58.6)\t236.2\t(14)\t(8)\nOther items not allocated to segments(d)\t(112.5)\t(29.4)\t(4.4)\t11.7\t(134.6)\t20\t26\nOperating profit - GAAP\t163.5\t(50.7)\t35.7\t(46.9)\t101.6\t(38)\t(31)\n", "q10k_tbl_41": "\tThree Months Ended September 30\t\t%\tNine Months Ended September 30\t\t%\n(In millions)\t2020\t2019\tchange\t2020\t2019\tchange\nGeneral administrative and other expenses\t(26.6)\t(26.2)\t2\t(78.5)\t(85.8)\t(9)\nForeign currency transaction gains (losses)\t(7.9)\t(0.4)\tunfav\t(11.5)\t0.2\tunfav\nReconciliation of segment policies to GAAP\t4.3\t(1.3)\tfav\t24.1\t2.9\tfav\nCorporate expenses\t(30.2)\t(27.9)\t8\t(65.9)\t(82.7)\t(20)\n", "q10k_tbl_42": "\tThree Months Ended September 30\t\t%\tNine Months Ended September 30\t\t%\n(In millions)\t2020\t2019\tchange\t2020\t2019\tchange\nRevenues:\t\t\t\t\t\t\nAcquisitions and dispositions\t0\t(0.2)\t(100)\t0\t(0.5)\t(100)\nInternal loss\t0\t4.0\t(100)\t0\t4.0\t(100)\nRevenues\t0\t3.8\t(100)\t0\t3.5\t(100)\nOperating profit:\t\t\t\t\t\t\nReorganization and Restructuring\t(5.1)\t(6.4)\t(20)\t(49.7)\t(20.5)\tunfav\nAcquisitions and dispositions\t(16.2)\t(24.0)\t(33)\t(66.2)\t(63.8)\t4\nArgentina highly inflationary impact\t(3.2)\t(7.9)\t(59)\t(8.4)\t(12.3)\t(32)\nInternal loss\t0.9\t(11.3)\tfav\t(9.9)\t(13.9)\t(29)\nReporting compliance\t0.1\t(0.3)\tfav\t(0.4)\t(2.0)\t(80)\nOperating profit\t(23.5)\t(49.9)\t(53)\t(134.6)\t(112.5)\t20\n", "q10k_tbl_43": "\tThree Months Ended September 30\t\t%\tNine Months Ended September 30\t\t%\n(In millions)\t2020\t2019\tchange\t2020\t2019\tchange\nReportable Segments:\t\t\t\t\t\t\nNorth America\t(1.6)\t0\tunfav\t(13.1)\t(1.5)\tunfav\nSouth America\t0.8\t(4.4)\tfav\t(16.2)\t(5.3)\tunfav\nRest of World\t(4.3)\t(1.8)\tunfav\t(19.7)\t(5.1)\tunfav\nTotal reportable segments\t(5.1)\t(6.2)\t(18)\t(49.0)\t(11.9)\tunfav\nCorporate items\t0\t(0.2)\t(100)\t(0.7)\t(8.6)\t(92)\nTotal\t(5.1)\t(6.4)\t(20)\t(49.7)\t(20.5)\tunfav\n", "q10k_tbl_44": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nDerivative instrument gains (losses) included in other operating income (expense)\t(3.4)\t5.8\t0.5\t8.3\nDerivative instrument losses included in other nonoperating income (expense)(a)\t(0.5)\t0\t(8.6)\t0\n", "q10k_tbl_45": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions)\t2020\t2019\t2020\t2019\nDerivative instrument gains included in other operating income (expense)\t0.8\t8.9\t30.6\t10.3\nOffsetting transaction losses\t(0.8)\t(8.9)\t(30.6)\t(10.3)\nDerivative instrument losses included in interest expense\t(0.5)\t(1.3)\t(1.5)\t(4.0)\nNet derivative instrument gains\t0.3\t7.6\t29.1\t6.3\n", "q10k_tbl_46": "\tThree Months Ended September 30\t\t%\tNine Months Ended September 30\t\t%\n(In millions)\t2020\t2019\tchange\t2020\t2019\tchange\nForeign currency items:\t\t\t\t\t\t\nTransaction gains (losses)\t(6.4)\t(13.3)\t(52)\t(17.3)\t(18.5)\t(6)\nDerivative instrument gains (losses)\t(3.4)\t5.8\tunfav\t0.5\t8.3\t(94)\nGains (losses) on sale of property and other assets\t0.6\t0.4\t50\t0.4\t1.6\t(75)\nImpairment losses\t(3.4)\t(1.7)\tunfav\t(8.3)\t(3.3)\tunfav\nShare in earnings of equity affiliates\t0.4\t0.2\t100\t0.6\t0.7\t(14)\nRoyalty income\t1.2\t1.4\t(14)\t3.5\t3.9\t(10)\nOther gains (losses)\t1.2\t0.7\t71\t2.2\t0.3\tfav\nOther operating income (expense)\t(9.8)\t(6.5)\t51\t(18.4)\t(7.0)\tunfav\n", "q10k_tbl_47": "\tThree Months Ended September 30\t\t%\t\tNine Months Ended September 30\t\t%\n(In millions)\t2020\t2019\t\tchange\t\t2020\t2019\t\t\t\tchange\t\t\nInterest expense\t27.1\t22.9\t\t18\t\t70.3\t68.6\t\t\t\t2\t\t\n", "q10k_tbl_48": "\tThree Months Ended September 30\t\t%\tNine Months Ended September 30\t\t%\n(In millions)\t2020\t2019\tchange\t2020\t2019\tchange\nInterest income\t2.3\t2.0\t15\t5.0\t4.3\t16\nGain (loss) on equity securities\t(1.1)\t0\tunfav\t2.3\t0\tfav\nForeign currency transaction gains (losses)\t0\t0\t0\t(0.1)\t0\tunfav\nDerivative instrument losses(a)\t(0.5)\t0\tunfav\t(8.6)\t0\tunfav\nRetirement benefit cost other than service cost\t(10.3)\t(7.9)\t30\t(28.6)\t(25.4)\t13\nNon-income taxes on intercompany billings(b)\t(1.9)\t(0.1)\tunfav\t(3.5)\t(1.9)\t84\nVenezuela operations(c)\t0\t0\t0\t0\t(0.9)\t(100)\nGain on lease termination(d)\t0\t0\t0\t0\t5.2\t(100)\nGain on disposition of subsidiary(e)\t0\t0\t0\t4.7\t0\tfav\nOther\t(1.3)\t(1.8)\t(28)\t(2.6)\t(3.4)\t(24)\nInterest and other nonoperating income (expense)\t(12.8)\t(7.8)\t64\t(31.4)\t(22.1)\t42\n", "q10k_tbl_49": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t2020\t\t2019\nContinuing operations\t\t\t\t\t\nProvision for income taxes (in millions)\t58.9\t14.7\t3.5\t\t37.1\nEffective tax rate\t161.4%\t67.4%\t(3500.0\t%)\t51.0%\n", "q10k_tbl_50": "\tThree Months Ended September 30\t\t%\tNine Months Ended September 30\t\t%\n(In millions)\t2020\t2019\tchange\t2020\t2019\tchange\nNet income attributable to noncontrolling interests\t1.4\t1.3\t8\t4.7\t3.6\t31\n", "q10k_tbl_51": "\tYTD '20\t\t\tYTD '19\t\t\n(In millions except for percentages)\tPre-tax\tTax\tEffective tax rate\tPre-tax\tTax\tEffective tax rate\nEffective Income Tax Rate(a)\t\t\t\t\t\t\nGAAP\t(0.1)\t3.5\t(3500.0)%\t72.8\t37.1\t51.0%\nRetirement plans(d)\t24.5\t5.8\t\t21.5\t5.1\t\nVenezuela operations(e)\t0\t0\t\t0.9\t0\t\nReorganization and Restructuring(b)\t50.2\t11.6\t\t20.5\t5.6\t\nAcquisitions and dispositions(b)\t71.6\t9.7\t\t68.5\t3.7\t\nArgentina highly inflationary impact(b)\t8.4\t(0.7)\t\t12.3\t(1.4)\t\nInternal loss(b)\t9.9\t2.3\t\t13.9\t2.5\t\nReporting compliance(b)\t0.4\t0\t\t2.0\t0\t\nGain on lease termination(f)\t0\t0\t\t(5.2)\t(1.2)\t\nIncome tax rate adjustment(c)\t0\t24.1\t\t0\t13.7\t\nNon-GAAP\t164.9\t56.3\t34.1%\t207.2\t65.1\t31.4%\n", "q10k_tbl_52": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions except for percentages and per share amounts)\t2020\t2019\t2020\t2019\nRevenues:\t\t\t\t\nGAAP\t970.5\t928.4\t2669.3\t2747.4\nAcquisitions and dispositions(b)\t0\t0.2\t0\t0.5\nInternal loss(b)\t0\t(4.0)\t0\t(4.0)\nNon-GAAP\t970.5\t924.6\t2669.3\t2743.9\nOperating profit:\t\t\t\t\nGAAP\t76.4\t52.5\t101.6\t163.5\nReorganization and Restructuring(b)\t5.1\t6.4\t49.7\t20.5\nAcquisitions and dispositions(b)\t16.2\t24.0\t66.2\t63.8\nArgentina highly inflationary impact(b)\t3.2\t7.9\t8.4\t12.3\nInternal loss(b)\t(0.9)\t11.3\t9.9\t13.9\nReporting compliance(b)\t(0.1)\t0.3\t0.4\t2.0\nNon-GAAP\t99.9\t102.4\t236.2\t276.0\nOperating margin:\t\t\t\t\nGAAP margin\t7.9%\t5.7%\t3.8%\t6.0%\nNon-GAAP margin\t10.3%\t11.1%\t8.8%\t10.1%\nInterest expense:\t\t\t\t\nGAAP\t(27.1)\t(22.9)\t(70.3)\t(68.6)\nAcquisitions and dispositions(b)\t0.5\t1.5\t1.5\t4.5\nNon-GAAP\t(26.6)\t(21.4)\t(68.8)\t(64.1)\nInterest and other nonoperating income (expense):\t\t\t\t\nGAAP\t(12.8)\t(7.8)\t(31.4)\t(22.1)\nRetirement plans(d)\t8.7\t6.6\t24.5\t21.5\nVenezuela operations(e)\t0\t0\t0\t0.9\nReorganization and Restructuring(b)\t0.5\t0\t0.5\t0\nAcquisitions and dispositions(b)\t0.4\t0.2\t3.9\t0.2\nGain on lease termination(f)\t0\t0\t0\t(5.2)\nNon-GAAP\t(3.2)\t(1.0)\t(2.5)\t(4.7)\nProvision for income taxes:\t\t\t\t\nGAAP\t58.9\t14.7\t3.5\t37.1\nRetirement plans(d)\t2.1\t1.6\t5.8\t5.1\nReorganization and Restructuring(b)\t1.3\t2.0\t11.6\t5.6\nAcquisitions and dispositions(b)\t4.0\t0.9\t9.7\t3.7\nArgentina highly inflationary impact(b)\t(0.2)\t(1.4)\t(0.7)\t(1.4)\nInternal loss(b)\t(0.2)\t2.4\t2.3\t2.5\nGain on lease termination(f)\t0\t(1.2)\t0\t(1.2)\nIncome tax rate adjustment(c)\t(42.0)\t6.1\t24.1\t13.7\nNon-GAAP\t23.9\t25.1\t56.3\t65.1\n", "q10k_tbl_53": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In millions except for percentages and per share amounts)\t2020\t2019\t2020\t2019\nNet income (loss) attributable to noncontrolling interests:\t\t\t\t\nGAAP\t1.4\t1.3\t4.7\t3.6\nReorganization and Restructuring(b)\t0.2\t0\t0.3\t0\nAcquisitions and dispositions(b)\t0.2\t0\t0.3\t0\nIncome tax rate adjustment(c)\t1.0\t0\t(1.0)\t0\nNon-GAAP\t2.8\t1.3\t4.3\t3.6\nIncome (loss) from continuing operations attributable to Brink's:\t\t\t\t\nGAAP\t(23.8)\t5.8\t(8.3)\t32.1\nRetirement plans(d)\t6.6\t5.0\t18.7\t16.4\nVenezuela operations(e)\t0\t0\t0\t0.9\nReorganization and Restructuring(b)\t4.1\t4.4\t38.3\t14.9\nAcquisitions and dispositions(b)\t12.9\t24.8\t61.6\t64.8\nArgentina highly inflationary impact(b)\t3.4\t9.3\t9.1\t13.7\nInternal loss(b)\t(0.7)\t8.9\t7.6\t11.4\nReporting compliance(b)\t(0.1)\t0.3\t0.4\t2.0\nGain on lease termination(f)\t0\t1.2\t0\t(4.0)\nIncome tax rate adjustment(c)\t41.0\t(6.1)\t(23.1)\t(13.7)\nNon-GAAP\t43.4\t53.6\t104.3\t138.5\nDiluted EPS:\t\t\t\t\nGAAP\t(0.47)\t0.11\t(0.17)\t0.63\nRetirement plans(d)\t0.13\t0.10\t0.37\t0.32\nVenezuela operations(e)\t0\t0\t0\t0.02\nReorganization and Restructuring(b)\t0.08\t0.09\t0.75\t0.29\nAcquisitions and dispositions(b)\t0.26\t0.49\t1.21\t1.27\nArgentina highly inflationary impact(b)\t0.07\t0.18\t0.18\t0.27\nInternal loss(b)\t(0.01)\t0.17\t0.15\t0.22\nReporting compliance(b)\t0\t0.01\t0.01\t0.04\nGain on lease termination(f)\t0\t0.02\t0\t(0.08)\nIncome tax rate adjustment(c)\t0.81\t(0.12)\t(0.45)\t(0.27)\nShare adjustment(g)\t0\t0\t0\t0\nNon-GAAP\t0.86\t1.05\t2.05\t2.72\n", "q10k_tbl_54": "\tNine Months Ended September 30\t\t$\n(In millions)\t2020\t2019\t\tchange\t\t\nCash flows from operating activities\t\t\t\t\t\t\nOperating activities - GAAP\t87.4\t151.8\t\t(64.4)\t\t\n(Increase) decrease in restricted cash held for customers\t(37.3)\t41.8\t\t(79.1)\t\t\n(Increase) decrease in certain customer obligations(a)\t0.7\t(15.4)\t\t16.1\t\t\nOperating activities - non-GAAP\t50.8\t178.2\t\t(127.4)\t\t\n", "q10k_tbl_55": "\tNine Months Ended September 30\t\t$\n(In millions)\t2020\t2019\tchange\nCash flows from investing activities\t\t\t\nCapital expenditures\t(79.1)\t(116.0)\t36.9\nAcquisitions net of cash acquired\t(427.1)\t(183.9)\t(243.2)\nDispositions net of cash disposed\t(3.1)\t0\t(3.1)\nMarketable securities:\t\t\t\nPurchases\t(1.5)\t(2.6)\t1.1\nSales\t1.7\t1.1\t0.6\nProceeds from sale of property and equipment\t2.3\t3.0\t(0.7)\nAcquisition of customer contracts\t(6.7)\t(3.1)\t(3.6)\nInvesting activities\t(513.5)\t(301.5)\t(212.0)\n", "q10k_tbl_56": "\tNine Months Ended September 30\t\t$\tFull Year\n(In millions)\t2020\t2019\tchange\t2019\nProperty and equipment acquired during the period\t\t\t\t\nCapital expenditures:(a)\t\t\t\t\nNorth America\t28.5\t52.2\t(23.7)\t76.6\nSouth America\t15.0\t32.0\t(17.0)\t44.4\nRest of World\t31.3\t23.8\t7.5\t33.5\nCorporate\t4.3\t8.0\t(3.7)\t10.3\nCapital expenditures - GAAP and non-GAAP\t79.1\t116.0\t(36.9)\t164.8\nFinancing leases:(b)\t\t\t\t\nNorth America\t23.0\t39.3\t(16.3)\t51.8\nSouth America\t0.8\t3.0\t(2.2)\t3.7\nRest of World\t0.5\t3.9\t(3.4)\t4.2\nFinancing leases - GAAP and non-GAAP\t24.3\t46.2\t(21.9)\t59.7\nTotal:\t\t\t\t\nNorth America\t51.5\t91.5\t(40.0)\t128.4\nSouth America\t15.8\t35.0\t(19.2)\t48.1\nRest of World\t31.8\t27.7\t4.1\t37.7\nCorporate\t4.3\t8.0\t(3.7)\t10.3\nTotal property and equipment acquired\t103.4\t162.2\t(58.8)\t224.5\nDepreciation and amortization(a)\t\t\t\t\nNorth America\t60.4\t60.7\t(0.3)\t81.1\nSouth America\t19.3\t21.0\t(1.7)\t27.9\nRest of World\t36.7\t24.9\t11.8\t32.3\nCorporate\t6.8\t8.2\t(1.4)\t10.8\nDepreciation and amortization - non-GAAP\t123.2\t114.8\t8.4\t152.1\nArgentina highly inflationary impact\t2.2\t0.8\t1.4\t1.8\nReorganization and Restructuring\t0.9\t0.1\t0.8\t0.2\nAcquisitions and dispositions\t0.7\t3.1\t(2.4)\t3.1\nAmortization of intangible assets\t25.2\t20.7\t4.5\t27.8\nDepreciation and amortization - GAAP\t152.2\t139.5\t12.7\t185.0\n", "q10k_tbl_57": "\tNine Months Ended September 30\t\t$\n(In millions)\t2020\t2019\tchange\nCash flows from financing activities\t\t\t\nBorrowings and repayments:\t\t\t\nShort-term borrowings\t(3.3)\t(13.1)\t9.8\nCash supply chain customer debt\t(10.5)\t0\t(10.5)\nLong-term revolving credit facilities net\t(51.3)\t(122.2)\t70.9\nOther long-term debt net\t924.4\t291.2\t633.2\nBorrowings (repayments)\t859.3\t155.9\t703.4\nDebt financing costs\t(13.1)\t(4.0)\t(9.1)\nRepurchase shares of Brink's common stock\t(50.0)\t0\t(50.0)\nDividends to:\t\t\t\nShareholders of Brink's\t(22.7)\t(22.4)\t(0.3)\nNoncontrolling interests in subsidiaries\t(8.9)\t(1.4)\t(7.5)\nPayment of acquisition-related obligation\t(6.8)\t(4.1)\t(2.7)\nTax withholdings associated with share-based compensation\t(10.3)\t(8.4)\t(1.9)\nOther\t1.7\t(2.9)\t4.6\nFinancing activities\t749.2\t112.7\t636.5\n", "q10k_tbl_58": "\tSeptember 30\tDecember 31\n(In millions)\t2020\t2019\nDebt:\t\t\nShort-term borrowings\t13.3\t14.3\nLong-term debt\t2514.3\t1629.3\nTotal Debt\t2527.6\t1643.6\nRestricted cash borrowings(a)\t0\t(10.3)\nTotal Debt without restricted cash borrowings\t2527.6\t1633.3\nLess:\t\t\nCash and cash equivalents\t592.4\t311.0\nAmounts held by Cash Management Services operations(b)\t(22.7)\t(26.3)\nCash and cash equivalents available for general corporate purposes\t569.7\t284.7\nNet Debt(c)\t1957.9\t1348.6\n", "q10k_tbl_59": "Funded Status of U.S. Retirement Plans\t\t\t\t\t\t\t\n\tActual\tActual\tProjected\t\t\t\t\n(In millions)\t2019\tNine Months 2020\t4th Quarter 2020\t2021\t2022\t2023\t2024\nPrimary U.S. pension plan\t\t\t\t\t\t\t\nBeginning funded status\t(106.8)\t(118.3)\t(103.4)\t(97.4)\t(75.6)\t(38.6)\t4.0\nNet periodic pension credit(a)\t16.9\t14.9\t4.9\t21.0\t22.4\t24.0\t27.1\nPayment from Brink's\t0\t0\t0\t0\t14.1\t17.6\t16.3\nBenefit plan experience gain (loss)\t(28.4)\t0\t1.1\t0.8\t0.5\t1.0\t0\nEnding funded status\t(118.3)\t(103.4)\t(97.4)\t(75.6)\t(38.6)\t4.0\t47.4\nUMWA plans\t\t\t\t\t\t\t\nBeginning funded status\t(297.4)\t(246.7)\t(237.5)\t(237.3)\t(238.2)\t(240.0)\t(242.8)\nNet periodic postretirement cost(a)\t(4.0)\t0.2\t0.2\t(0.9)\t(1.8)\t(2.8)\t(3.9)\nBenefit plan experience gain (loss)\t55.1\t0\t0\t0\t0\t0\t0\nOther(b)\t(0.4)\t9.0\t0\t0\t0\t0\t0\nEnding funded status\t(246.7)\t(237.5)\t(237.3)\t(238.2)\t(240.0)\t(242.8)\t(246.7)\nBlack lung plans\t\t\t\t\t\t\t\nBeginning funded status\t(67.9)\t(99.2)\t(95.8)\t(91.5)\t(84.0)\t(77.1)\t(70.6)\nNet periodic postretirement cost(a)\t(3.0)\t(2.3)\t(0.8)\t(2.6)\t(2.5)\t(2.2)\t(2.1)\nPayment from Brink's\t8.4\t5.7\t5.1\t10.1\t9.4\t8.7\t8.1\nBenefit plan experience gain (loss)\t(36.7)\t0\t0\t0\t0\t0\t0\nEnding funded status\t(99.2)\t(95.8)\t(91.5)\t(84.0)\t(77.1)\t(70.6)\t(64.6)\n", "q10k_tbl_60": "\tActual\tActual\tProjected\t\t\t\t\t\n(In millions)\t2019\tNine Months 2020\t4th Quarter 2020\tFY2020\t2021\t2022\t2023\t2024\nPrimary U.S. pension plan\t21.8\t6.4\t2.3\t8.7\t3.1\t(1.3)\t(4.4)\t(11.3)\nUMWA plans\t15.9\t8.6\t2.9\t11.5\t11.4\t11.6\t11.9\t12.3\nBlack lung plans\t7.4\t8.3\t2.8\t11.1\t9.8\t9.1\t8.5\t7.9\nTotal\t45.1\t23.3\t8.0\t31.3\t24.3\t19.4\t16.0\t8.9\n", "q10k_tbl_61": "\tActual\tActual\tProjected\t\t\t\t\t\n(In millions)\t2019\tNine Months 2020\t4th Quarter 2020\tFY2020\t2021\t2022\t2023\t2024\nPayments from Brink's to U.S. Plans\t\t\t\t\t\t\t\t\nPrimary U.S. pension plan\t0\t0\t0\t0\t0\t14.1\t17.6\t16.3\nBlack lung plans\t8.4\t5.7\t5.1\t10.8\t10.1\t9.4\t8.7\t8.1\nTotal\t8.4\t5.7\t5.1\t10.8\t10.1\t23.5\t26.3\t24.4\nPayments from U.S. Plans to participants\t\t\t\t\t\t\t\t\nPrimary U.S. pension plan\t48.5\t32.3\t14.7\t47.0\t47.0\t47.0\t47.0\t46.9\nUMWA plans\t29.3\t19.4\t10.8\t30.2\t30.2\t29.7\t29.3\t28.7\nBlack lung plans\t8.4\t5.7\t5.1\t10.8\t10.1\t9.4\t8.7\t8.1\nTotal\t86.2\t57.4\t30.6\t88.0\t87.3\t86.1\t85.0\t83.7\n", "q10k_tbl_62": "Period\t(a) Total Number of Shares Purchased(1)\t(b) Average Price Paid per Share\t(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs\t(d) Maximum Number (or Approximate Dollar Value) of Shares that May Yet be Purchased Under the Plans or Programs\nJuly 1 through\t\t\t\t\nJuly 31 2020\t0\t0\t0\t0\nAugust 1 through\t\t\t\t\nAugust 31 2020\t849978\t58.83\t849978\t200000000\nSeptember 1 through\t\t\t\t\nSeptember 30 2020\t246676\t(2)\t246676\t200000000\n", "q10k_tbl_63": "10.1\tKey Employees' Deferred Compensation Program as amended and restated effective September 24 2020.\n31.1\tCertification of Douglas A. Pertz President and Chief Executive Officer (Principal Executive Officer) of The Brink's Company pursuant to Rules 13a-14(a) and 15d-14(a) promulgated under the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2\tCertification of Ronald J. Domanico Executive Vice President and Chief Financial Officer (Principal Financial Officer) of The Brink's Company pursuant to Rules 13a-14(a) and 15d-14(a) promulgated under the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1\tCertification of Douglas A. Pertz President and Chief Executive Officer (Principal Executive Officer) of The Brink's Company pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n32.2\tCertification of Ronald J. Domanico Executive Vice President and Chief Financial Officer (Principal Financial Officer) of The Brink's Company pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101\tInteractive Data File (Quarterly Report on Form 10-Q for the quarterly period ended September 30 2020 furnished in Inline eXtensible Business Reporting Language (iXBRL)). The instance document does not appear in the interactive data file because its iXBRL tags are embedded within the iXBRL document. Attached as Exhibit 101 to this report are the following documents formatted in iXBRL: (i) the Condensed Consolidated Balance Sheets at September 30 2020 and December 31 2019 (ii) the Condensed Consolidated Statements of Operations for the three and nine months ended September 30 2020 and 2019 (iii) the Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30 2020 and 2019 (iv) the Condensed Consolidated Statements of Equity for the nine months ended September 30 2020 and 2019 (v) the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30 2020 and 2019 and (vi) the Notes to the Condensed Consolidated Financial Statements. Users of this data are advised pursuant to Rule 406T of Regulation S-T that this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933 is deemed not filed for purposes of section 18 of the Securities and Exchange Act of 1934 and otherwise is not subject to liability under these sections.\n"}{"bs": "q10k_tbl_0", "is": "q10k_tbl_1", "cf": "q10k_tbl_5"}None
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________
Commission file number 001-09148
THE BRINK’S COMPANY
(Exact name of registrant as specified in its charter)
Virginia
54-1317776
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
1801 Bayberry Court, Richmond, Virginia23226-8100
(Address of principal executive offices) (Zip Code)
(804) 289-9600
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $1.00 per share
BCO
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
(Check one): Large Accelerated Filer☒ Accelerated Filer ☐ Non-Accelerated Filer ☐ Smaller Reporting Company ☐Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐No ☒
As of October 26, 2020, 49,433,095 shares of $1 par value common stock were outstanding.
1
Part I - Financial Information
Item 1. Financial Statements
THE BRINK’S COMPANY
and subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited)
(In millions, except for per share amounts)
September 30, 2020
December 31, 2019
ASSETS
Current assets:
Cash and cash equivalents
$
592.4
311.0
Restricted cash
203.0
158.0
Accounts receivable, net
708.0
635.6
Prepaid expenses and other
201.5
128.0
Total current assets
1,704.9
1,232.6
Right-of-use assets, net
325.9
270.3
Property and equipment, net
812.1
763.3
Goodwill
1,184.4
784.6
Other intangibles
419.8
272.5
Deferred income taxes
271.1
273.5
Other
184.9
167.0
Total assets
$
4,903.1
3,763.8
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings
$
13.3
14.3
Current maturities of long-term debt
107.3
74.5
Accounts payable
173.8
184.5
Accrued liabilities
778.7
628.4
Restricted cash held for customers
93.3
100.3
Total current liabilities
1,166.4
1,002.0
Long-term debt
2,407.0
1,554.8
Accrued pension costs
264.6
228.9
Retirement benefits other than pensions
332.6
347.8
Lease liabilities
269.1
218.4
Deferred income taxes
45.9
21.2
Other
245.6
183.1
Total liabilities
4,731.2
3,556.2
Commitments and contingent liabilities (notes 4, 8 and 14)
Equity:
The Brink's Company ("Brink's") shareholders:
Common stock, par value $1 per share:
Shares authorized: 100.0
Shares issued and outstanding: 2020 - 49.4; 2019 - 50.1
49.4
50.1
Capital in excess of par value
660.0
663.3
Retained earnings
389.7
457.4
Accumulated other comprehensive loss
(1,009.1)
(979.0)
Brink’s shareholders
90.0
191.8
Noncontrolling interests
81.9
15.8
Total equity
171.9
207.6
Total liabilities and equity
$
4,903.1
3,763.8
See accompanying notes to condensed consolidated financial statements.
2
THE BRINK’S COMPANY
and subsidiaries
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(In millions, except for per share amounts)
2020
2019
2020
2019
Revenues
$
970.5
928.4
$
2,669.3
2,747.4
Costs and expenses:
Cost of revenues
742.9
714.4
2,120.2
2,125.6
Selling, general and administrative expenses
141.4
155.0
429.1
451.3
Total costs and expenses
884.3
869.4
2,549.3
2,576.9
Other operating income (expense)
(9.8)
(6.5)
(18.4)
(7.0)
Operating profit
76.4
52.5
101.6
163.5
Interest expense
(27.1)
(22.9)
(70.3)
(68.6)
Interest and other nonoperating income (expense)
(12.8)
(7.8)
(31.4)
(22.1)
Income (loss) from continuing operations before tax
36.5
21.8
(0.1)
72.8
Provision for income taxes
58.9
14.7
3.5
37.1
Income (loss) from continuing operations
(22.4)
7.1
(3.6)
35.7
Loss from discontinued operations, net of tax
(0.1)
(0.4)
(0.9)
(0.5)
Net income (loss)
(22.5)
6.7
(4.5)
35.2
Less net income attributable to noncontrolling interests
1.4
1.3
4.7
3.6
Net income (loss) attributable to Brink’s
(23.9)
5.4
(9.2)
31.6
Amounts attributable to Brink’s
Continuing operations
(23.8)
5.8
(8.3)
32.1
Discontinued operations
(0.1)
(0.4)
(0.9)
(0.5)
Net income (loss) attributable to Brink’s
$
(23.9)
5.4
$
(9.2)
31.6
Income (loss) per share attributable to Brink’s common shareholders(a):
Basic:
Continuing operations
$
(0.47)
0.11
$
(0.17)
0.64
Discontinued operations
—
(0.01)
(0.02)
(0.01)
Net income (loss)
$
(0.48)
0.11
$
(0.18)
0.63
Diluted:
Continuing operations
$
(0.47)
0.11
$
(0.17)
0.63
Discontinued operations
—
(0.01)
(0.02)
(0.01)
Net income (loss)
$
(0.48)
0.10
$
(0.18)
0.62
Weighted-average shares
Basic
50.4
50.3
50.6
50.2
Diluted
50.4
51.1
50.6
51.0
Cash dividends paid per common share
$
0.15
0.15
$
0.45
0.45
(a) Amounts may not add due to rounding.
See accompanying notes to condensed consolidated financial statements.
3
THE BRINK’S COMPANY
and subsidiaries
Condensed Consolidated Statements of Comprehensive Income (Loss)
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(In millions)
2020
2019
2020
2019
Net income (loss)
$
(22.5)
6.7
$
(4.5)
35.2
Benefit plan adjustments:
Benefit plan actuarial gains
12.4
9.2
44.2
29.5
Benefit plan prior service costs
(1.3)
(1.2)
(3.7)
(3.7)
Deferred profit sharing
—
0.1
—
0.2
Total benefit plan adjustments
11.1
8.1
40.5
26.0
Foreign currency translation adjustments
43.6
(34.9)
(48.5)
(25.2)
Gains (losses) on cash flow hedges
4.1
(3.9)
(13.2)
(22.4)
Other comprehensive income (loss) before tax
58.8
(30.7)
(21.2)
(21.6)
Provision for income taxes
4.1
0.7
6.3
0.5
Other comprehensive income (loss)
54.7
(31.4)
(27.5)
(22.1)
Comprehensive income (loss)
32.2
(24.7)
(32.0)
13.1
Less comprehensive income attributable to noncontrolling interests
3.4
1.6
7.3
4.3
Comprehensive income (loss) attributable to Brink's
$
28.8
(26.3)
$
(39.3)
8.8
See accompanying notes to condensed consolidated financial statements.
4
THE BRINK’S COMPANY
and subsidiaries
Condensed Consolidated Statements of Equity
(Unaudited)
Nine Months ended September 30, 2020
(In millions)
Shares
Common
Stock
Capital in Excess of Par Value
Retained
Earnings
AOCI*
Noncontrolling
Interests
Total
Balance as of December 31, 2019
50.1
$
50.1
663.3
457.4
(979.0)
15.8
207.6
Cumulative effect of change in accounting principle(a)
—
—
—
(1.7)
—
—
(1.7)
Net income
—
—
—
1.8
—
1.0
2.8
Other comprehensive loss
—
—
—
—
(117.0)
(0.4)
(117.4)
Dividends to:
Brink’s common shareholders ($0.15 per share)
—
—
—
(7.5)
—
—
(7.5)
Noncontrolling interests
—
—
—
—
—
(0.7)
(0.7)
Share-based compensation:
Stock awards and options:
Compensation expense
—
—
7.2
—
—
—
7.2
Other share-based benefit transactions
0.4
0.4
(8.6)
(0.1)
—
—
(8.3)
Balance as of March 31, 2020
50.5
$
50.5
661.9
449.9
(1,096.0)
15.7
82.0
Net income
—
—
—
12.9
—
2.3
15.2
Other comprehensive income
—
—
—
—
34.2
1.0
35.2
Dividends to:
Brink’s common shareholders ($0.15 per share)
—
—
—
(7.6)
—
—
(7.6)
Noncontrolling interests
—
—
—
—
—
(7.2)
(7.2)
Share-based compensation:
Stock awards and options:
Compensation expense
—
—
5.4
—
—
—
5.4
Other share-based benefit transactions
—
—
0.1
—
—
—
0.1
Acquisitions with noncontrolling interests
—
—
—
—
—
67.8
67.8
Balance as of June 30, 2020
50.5
$
50.5
667.4
455.2
(1,061.8)
79.6
190.9
Net income (loss)
—
—
—
(23.9)
—
1.4
(22.5)
Other comprehensive income
—
—
—
—
52.7
2.0
54.7
Shares repurchased
(1.1)
(1.1)
(14.9)
(34.0)
—
—
(50.0)
Dividends to:
Brink’s common shareholders ($0.15 per share)
—
—
—
(7.6)
—
—
(7.6)
Noncontrolling interests
—
—
—
—
—
(1.0)
(1.0)
Share-based compensation:
Stock awards and options:
Compensation expense
—
—
8.3
—
—
—
8.3
Other share-based benefit transactions
—
—
(0.8)
—
—
—
(0.8)
Acquisitions with noncontrolling interests
—
—
—
—
—
(0.1)
(0.1)
Balance as of September 30, 2020
49.4
$
49.4
660.0
389.7
(1,009.1)
81.9
171.9
(a)Effective January 1, 2020, we adopted the provisions of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on FinancialInstruments. We recognized a cumulative effect adjustment to January 1, 2020 retained earnings as a result of adopting this standard. See Note 1 for further details.
5
Nine Months ended September 30, 2019
(In millions)
Shares
Common
Stock
Capital in Excess of Par Value
Retained
Earnings
AOCI*
Noncontrolling
Interests
Total
Balance as of December 31, 2018
49.7
$
49.7
628.2
429.1
(953.3)
12.9
166.6
Cumulative effect of change in accounting principle(a)