Acquisitions and Dispositions Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

(In millions)	Estimated Fair Value at Acquisition Date
Fair value of purchase consideration
Cash paid through December 31, 2019	$	205.9
Fair value of purchase consideration	$	205.9
Fair value of net assets acquired
Cash	$	10.3
Accounts receivable	16.6
Other current assets	0.6
Property and equipment, net	2.4
Intangible assets(a)	60.2
Goodwill(b)	148.8
Other noncurrent assets	0.1
Current liabilities	(11.8		)
Noncurrent liabilities	(21.3		)
Fair value of net assets acquired	$	205.9

(a) Intangible assets are composed of customer relationships ($56 million fair value and 10 year amortization period), trade name ($4 million and 2 year amortization period) and non-competition agreements (less than $1 million and 3 year amortization period).

(b)

Consists of intangible assets that do not qualify for separate recognition, combined with synergies expected from integrating Maco Transportadora’s operations into our existing Brink’s Argentina operations. All of the goodwill has been assigned to the Global Markets-South America reporting unit and is not expected to be deductible for tax purposes.

(In millions)	Estimated Fair Value at Acquisition Date
Fair value of purchase consideration
Cash paid through December 31, 2019	$	546.8
Receivable from seller	(6.3		)
Fair value of purchase consideration	$	540.5
Fair value of net assets acquired
Cash	$	25.8
Accounts receivable	31.9
Other current assets	11.7
Property and equipment, net	56.6
Intangible assets(a)	162.0
Goodwill(b)	304.1
Other noncurrent assets	21.1
Current liabilities	(29.5		)
Noncurrent liabilities	(43.2		)
Fair value of net assets acquired	$	540.5

(a) Intangible assets are composed of customer relationships ($148 million fair value and 15 year amortization period) and rights related to the trade name ($14 million fair value and 8 year amortization period).

(b)

Consists of intangible assets that do not qualify for separate recognition, combined with synergies expected from integrating Dunbar’s operations with our existing Brink’s U.S. operations. All of the goodwill has been assigned to the U.S. reporting unit and is expected to be deductible for tax purposes.

(In millions)	Estimated Fair Value at Acquisition Date
Fair value of purchase consideration
Cash paid through December 31, 2019	$	135.7
Indemnification asset	(1.9		)
Fair value of purchase consideration	$	133.8
Fair value of net assets acquired
Cash	$	1.4
Accounts receivable	8.9
Other current assets	0.5
Property and equipment, net	2.4
Intangible assets(a)	49.0
Goodwill(b)	85.1
Other noncurrent assets	5.8
Current liabilities	(11.4		)
Noncurrent liabilities	(7.9		)
Fair value of net assets acquired	$	133.8

(a) Intangible assets are composed of customer relationships ($47 million fair value and 11 year amortization period), trade name ($1 million fair value and 1 year amortization period), and non-compete agreement ($1 million fair value and 5 year amortization period).

(b)

Consists of intangible assets that do not qualify for separate recognition, combined with synergies expected from integrating Rodoban’s operations with our existing Brink’s Brazil operations. All of the goodwill has been assigned to the Brazil reporting unit and is expected to be deductible for tax purposes.

(In millions)	Estimated Fair Value at Acquisition Date
Fair value of purchase consideration
Cash paid through December 31, 2019	$	164.6
Indemnification asset	(9.8		)
Fair value of purchase consideration	$	154.8
Fair value of net assets acquired
Cash	$	7.4
Accounts receivable	20.1
Property and equipment, net	13.9
Intangible assets(a)	40.6
Goodwill(b)	114.4
Other current and noncurrent assets	7.4
Current liabilities	(23.4		)
Noncurrent liabilities	(25.6		)
Fair value of net assets acquired	$	154.8

(a) Intangible assets are composed of customer relationships, trade names and non-competition agreements.

(b)

Consists of intangible assets that do not qualify for separate recognition, combined with synergies expected from integrating these acquired operations into our existing operations. The goodwill from these acquisitions has been assigned to the following reporting units: AATI (U.S.), Pag Facil (Brazil), LGS and Maco Litoral (Global Markets-South America), and Temis (France). We do not expect goodwill related to AATI, LGS, Maco Litoral, and Temis to be deductible for tax purposes. Goodwill related to Pag Facil will be deductible for tax purposes.

(In millions)	Estimated Fair Value at Acquisition Date
Fair value of purchase consideration
Cash paid through December 31, 2019	$	53.4
Fair value of future payments to sellers	7.8
Contingent consideration	1.6
Indemnification asset	(12.9		)
Fair value of purchase consideration	$	49.9
Fair value of net assets acquired
Cash	$	5.1
Accounts receivable	4.4
Property and equipment, net	7.1
Intangible assets(a)	24.4
Goodwill(b)	35.2
Other current and noncurrent assets	1.9
Current liabilities	(14.6		)
Noncurrent liabilities	(13.6		)
Fair value of net assets acquired	$	49.9

(a) Intangible assets are composed of developed technology, customer relationships and trade names. Final allocation will be determined once all valuations have been completed.

(b) Consists of intangible assets that do not qualify for separate recognition, combined with synergies expected from integrating these acquired operations into our existing operations. The goodwill from these acquisitions has been assigned to the following reporting units: BI (U.S.), COMEF (Brazil) and TVS (Global Markets - South America). We do not expect goodwill related to COMEF or TVS to be deductible for tax purposes. We expect goodwill related to BI to be deductible for tax purposes.

Business Acquisition, Pro Forma Information

The pro forma consolidated results of Brink’s presented below are unaudited and reflect a hypothetical ownership on January 1, 2018 of the businesses we acquired during 2019 and a hypothetical ownership on January 1, 2017 for the businesses we acquired in 2018.

(In millions)	Revenue		Net income attributable to Brink's
Actual results included in Brink's consolidated 2019 results for businesses acquired in 2019 from the date of acquisition
Twelve months ended December 31, 2019
Rodoban	$	66.0	4.6
Other acquisitions(a)	16.1		0.2
Total	$	82.1	4.8

(a)

Includes the actual results of Balance Innovations, COMEF and TVS.

(In millions)	Revenue		Net income attributable to Brink's
Pro forma results of Brink's for the twelve months ended December 31,
2019
Brink's as reported	$	3,683.2	29.0
Rodoban(a)	0.6		—
Other acquisitions(a)	26.8		1.6
Total	$	3,710.6	30.6
2018
Brink's as reported	$	3,488.9	(33.3	)
Rodoban(a)	76.0		(3.9	)
Dunbar(a)	244.0		5.4
Other acquisitions(a)	45.4		1.9
Total	$	3,854.3	(29.9	)

(a)

Represents amounts prior to acquisition by Brink's.