Company: BCO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000078890-25-000312
Chunk: 20

Company: BRINKS CO
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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  $100 million notional - June 2027 maturity (a)                                      
  Other noncurrent liabilities                        ( 0.4)                          
  $50 million notional - June 2027 maturity (a)                                       
  Other noncurrent liabilities                        $                       ( 0.1)  
  Net liability                                       $                       ( 0.6)  

(a) At September 30, 2025, swaps with a total notional value of $ 150 0.9

Amounts under our interest rate swap contracts were recognized in interest expense as follows:

                                                   Three Months                         Nine Months                       
                                                   Ended September 30,                  Ended September 30,               
  (In millions)                                    2025                       2024      2025                        2024  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Impact to interest expense - (benefit) cost      $                        ( 4.6)      $                        ( 14.3)  

Cash flows related to interest rate swaps are reported as operating activities.

Contingent Consideration

In the second quarter of 2020, we acquired cash management operations in Malaysia from U. K.-based G4S Plc ("G4S") and have recorded a payable for contingent consideration. The contingent consideration will be paid when minimum dividend distributions are received by Brink's relating to cash on the balance sheets of the Malaysia subsidiaries as of the acquisition date. We used a probability-weighted approach to estimate the fair value of the contingent consideration. The fair value of the contingent consideration is the full $ 24

Other Financial Instruments

Other financial instruments include cash and cash equivalents, accounts receivable, floating rate debt, accounts payable and accrued liabilities. The financial statement carrying amounts of these items approximate the fair value.

There were no transfers in or out of any of the levels of the valuation hierarchy in the first nine months of 2025.

Note 8 - Debt

                                   September 30,                   December 31,               
  (In millions)                    2025                                    2024               
 ──────────────────────────────────────────────────────────────────────────────────────────────
  Debt:                                                                                       
  Short-term borrowings            $                    218.1             149.3               
  Total short-term borrowings      $                    218.1             149.3               
  Long-term debt                                                                              
  Bank credit facilities:                                                                     
  Term loans