Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021	$	215.5
Fair value of purchase consideration	$	215.5
Fair value of net assets acquired
Cash	$	12.3
Accounts receivable	7.3
Other current assets	5.1
Property and equipment, net	15.0
Intangible assets(a)	95.0
Goodwill(b)	127.4
Other noncurrent assets	4.5
Current liabilities	(41.2)
Other noncurrent liabilities	(9.9)
Fair value of net assets acquired	$	215.5

(a)Intangible assets are composed of customer relationships ($60 million fair value and 10 year amortization period), developed technology ($26 million fair value and 12 year amortization period) and a trade name ($9 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 PAI's operations with our existing Brink's U.S. operations. All goodwill has been assigned to the North America reporting unit. We expect less than $2 million of goodwill to be deductible for tax purposes.

(In millions)	Estimated Fair Value at Acquisition Date
Fair value of purchase consideration
Cash paid through September 30, 2021	$	817.4
Contingent consideration	22.0
Liabilities assumed from seller	2.9
Indemnification asset	(5.2)
Fair value of purchase consideration	$	837.1
Fair value of net assets acquired
Cash	$	244.4
Restricted cash	30.1
Accounts receivable	145.8
Other current assets	30.8
Property and equipment, net	123.8
Right-of-use assets, net	77.5
Intangible assets(a)	206.0
Goodwill(b)	535.9
Other noncurrent assets	16.2
Current liabilities	(296.2)
Lease liabilities	(68.1)
Other noncurrent liabilities	(92.7)
Fair value of net assets acquired	$	953.5
Less: Fair value of noncontrolling interest	(116.4)
Fair value of purchase consideration	$	837.1

(a)Intangible assets are composed of customer relationships ($206 million fair value and 15 year amortization period).

(b)Consists of intangible assets that do not qualify for separate recognition, combined with synergies expected from integrating G4S operations with our existing operations. Goodwill has been provisionally assigned to the Europe reporting unit ($191 million), the Rest of World reporting unit ($342 million) and the Latin America reporting unit ($3 million). We do not currently expect goodwill in these reporting units to be deductible for tax purposes.

Business Acquisition, Pro Forma Information

Below are the actual results included in Brink's consolidated results for the businesses we acquired in 2020 and the first nine months of 2021.

(In millions)	Revenue		Net income (loss) attributable to Brink's
Three months ended September 30, 2021
PAI	$	33.5	2.9
G4S	172.6		4.9
Total	$	206.1	7.8
Three months ended September 30, 2020
G4S	156.1		5.2
Total	$	156.1	5.2
Nine months ended September 30, 2021
PAI	$	67.5	5.4
G4S	501.0		9.1
Total	$	568.5	14.5
Nine months ended September 30, 2020
G4S	285.0		8.2
Total	$	285.0	8.2

The pro forma consolidated results of Brink’s presented below reflect a hypothetical ownership as of January 1, 2019 for the businesses we acquired during 2020 and a hypothetical ownership as of January 1, 2020 for the businesses we acquired in the first nine months of 2021.

(In millions)	Revenue		Net income (loss) attributable to Brink's
Pro forma results of Brink's for the three months ended September 30,
2021
Brink's as reported	$	1,075.5	19.0
Total	$	1,075.5	19.0
2020
Brink's as reported	$	970.5	(23.9)
PAI(a)	25.2		0.5
G4S(a)	19.4		0.2
Total	$	1,015.1	(23.2)
Pro forma results of Brink's for the nine months ended September 30,
2021
Brink's as reported	$	3,102.0	55.6
PAI(a)	31.4		2.5
G4S(a)	7.0		0.7
Total	$	3,140.4	58.8
2020
Brink's as reported	$	2,669.3	(9.2)
PAI(a)	69.4		0.9
G4S(a)	233.4		(0.7)
Total	$	2,972.1	(9.0)

(a)Represents amounts prior to acquisition by Brink's.