Company: BCO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000078890-25-000312
Chunk: 17

Company: BRINKS CO
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 17
---
 Unsecured Notes                                                            
  Carrying value                   $                       600.0                  600.0  
  Fair value                       571.5                                          558.7  
  2029 Senior Unsecured Notes                                                            
  Carrying value                   $                       400.0                  400.0  
  Fair value                       411.4                                          399.0  
  2032 Senior Unsecured Notes                                                            
  Carrying value                   $                       400.0                  400.0  
  Fair value                       414.7                                          397.2  

Pricing inputs for nonpublic debt are often not observable. The fair value estimates of our senior notes reflect unobservable estimates and assumptions, which we have categorized as a Level 3 valuation. Our fair value estimates were based on the present value of future cash flows, discounted at rates for public debt at the measurement date. The rates for public debt were additionally adjusted for a factor which represented the change in the interest spreads between the inception rates and the public debt rates at the measurement date.

Forward and Swap Contracts

The fair values of our forward and swap contracts are based on the present value of net future cash payments and receipts, as well as inputs

related to forward interest rates and forward currency rates that are derived principally from, or corroborated by, observable market data,

which we have categorized as a Level 2 valuation.

Economic Hedges

We have outstanding foreign currency forward and swap contracts to hedge transactional risks associated with foreign currencies. At September 30, 2025, the notional value of our outstanding foreign currency forward and swap contracts was $ 773 one month

Cash flows related to economic hedges are reported in the condensed consolidated statements of cash flows based on the nature of the underlying items being hedged. For the periods presented, such cash flows are reported in operating activities or investing activities.

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

  (In millions)                   September 30, 2025               December 31, 2024  
 ──────────────────────────────────────────────────────────────────────────────────────
  Prepaid expenses and other      $                       5.6                   19.0  
  Accrued liabilities             ( 2.1)                                     ( 10.1)  
  Net asset                       $                       3.5                    8.9  

Amounts under these contracts were recognized in other operating income (expense) as follows:

                                                                                             Three Months