Loss from Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Income from discontinued operations [Text Block]

Note 9 – Loss from discontinued operations

		Three Months		Nine Months
		Ended September 30,		Ended September 30,
(In millions)		2014	2013	2014	2013
Loss from operations(a)(b)	$	-	(2.1)	-	(25.5)
Loss on sale(a)		-	(2.9)	-	(3.6)
Adjustments to contingencies of former operations		(0.1)	(0.3)	(0.1)	0.9
Income (loss) from discontinued operations before income taxes		(0.1)	(5.3)	(0.1)	(28.2)
Provision (benefit) for income taxes		(1.6)	0.7	(0.8)	1.8
Income (loss) from discontinued operations, net of tax	$	1.5	(6.0)	0.7	(30.0)

• Discontinued operations include gains and losses related to businesses that Brink’s sold or shut down in 2013. Interest expense included in discontinued operations was $0.1 million in the three months and $0.4 million in the nine months ended September 30,2013.
• The loss from operations in the nine monthsended September 30,2013, included $15.9million of severance expenses for terminating certain employees of the German cash-in-transit operations. We contributed a portion of the cost to fund the severance payments to the business prior to the execution of the December 2013 sale transaction.

Cash-in-transit operations sold or shut down:

• Poland (sold in March 2013)
• Turkey (shut down in June 2013)
• Hungary (sold in September 2013)
• Germany (sold in December 2013)

Guarding operations sold:

• France (January 2013)
• Germany (July 2013)

Other operations sold:

• We sold Threshold Financial Technologies, Inc. in Canada in November 2013. Threshold operated private-label ATM network and payment processing businesses. Brink’s continues to own and operate Brink’s Integrated Managed Services for ATM customers.
• We sold ICD Limited and other affiliated subsidiaries in November 2013. ICD designed and installed security systems for commercial customers and had operations in China and other locations in Asia.

The results of the above disposed operations have been excluded from continuing operations and are reported as discontinued operations for the 2013 periods presented.

The table below shows the 2013revenues by business segment which have been reclassified to discontinued operations:

			Three Months	Nine Months
			Ended September 30,	Ended September 30,
(In millions)			2013	2013
EMEA		$	17.5	67.8
North America			12.0	36.9
Asia Pacific			8.6	20.8
	Total	$	38.1	125.5