Company: BCO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000078890-25-000312
Chunk: 19

Company: BRINKS CO
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 Hong Kong dollar net investment hedge (b)                                                              
  Prepaid expenses and other                     $                           0.3                    0.1  
  Net liability                                  $                       ( 61.5)                ( 12.8)  

(a) At September 30, 2025, swaps with a total notional value of $ 215 0.6 185 5.0

(b) At September 30, 2025, the total notional value was $ 55 0.1

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                         Nine Months                      
                                                                Ended September 30,                  Ended September 30,              
  (In millions)                                                 2025                       2024      2025                       2024  
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  Cross currency swaps designated as net investment hedges      $                        ( 1.2)      $                        ( 3.5)  

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 operating activities.

Interest Rate Swaps - Cash Flow Hedges

We have periodically entered into interest rate swaps to hedge cash flow risk associated with changes in variable interest rates and we have designated the interest rate swaps as cash flow hedges for accounting purposes. Accordingly, changes in the fair value of these cash flow hedges are initially recorded in the gains (losses) on cash flow hedges component of accumulated other comprehensive income (loss). We reclassify amounts from accumulated other comprehensive income (loss) into earnings in the same periods that the hedged debt affects earnings.

In the fourth quarter of 2024, we elected to early terminate interest rate swaps with an aggregate notional value of $ 775$ 19

In the first and third quarters of 2025, we entered into interest rate swaps totaling $ 150

The fair values of our interest rate swaps were recognized in the condensed consolidated balance sheet as follows:

  (In millions)                                       September 30, 2025              
  Accrued liabilities                                 $                       ( 0.1)  
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