Company: BCO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000078890-25-000253
Chunk: 16

Company: BRINKS CO
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 are sold or substantially liquidated. We have elected to exclude the spot-forward difference from the assessment of hedge effectiveness and are amortizing this amount separately on a straight-line basis over the term of the cross currency swaps.

In 2023, we entered into a zero cost foreign exchange collar contract with a $ 215 215 215 215 215

The fair value of these contracts were recognized in the condensed consolidated balance sheet as follows:

  (In millions)                                  June 30, 2025                   December 31, 2024  
 ────────────────────────────────────────────────────────────────────────────────────────────────────
  Euro net investment hedge (a)                                                                     
  Prepaid expenses and other                     $                      2.1      5.7                
  Accrued liabilities                            ( 35.6)                         —                  
  Other noncurrent liabilities                   ( 30.6)                         ( 21.7)            
  Zero cost collar                                                                                  
  Prepaid expenses and other                     $                      1.6      —                  
  Other noncurrent asset                         —                               3.1                
  Hong Kong dollar net investment hedge (b)                                                         
  Prepaid expenses and other                     $                      0.3      0.1                
  Net asset (liability)                          $                  ( 62.2)      $                  

(a) At June 30, 2025, swaps with a total notional value of $ 215 0.8 185 5.2

(b) At June 30, 2025, the total notional value was $ 55 0.4

The effect of the amortization of the spot-forward difference on the net investment hedges cross currency swaps and foreign exchange forward swap contract is included as a benefit in interest expense as follows:

                                                                Three Months                  Six Months                  
                                                                Ended June 30,                Ended June 30,              
  (In millions)                                                 2025                2024      2025                  2024  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cross currency swaps designated as net investment hedges      $                   $         $                   ( 2.3)  

Cash flows related to the amortization of the off-market component of net investment hedges are reported in investing activities. Cash flows from the termination and final settlement of net investment hedges are reported in investing activities. All other cash flows from net investment hedges are reported in