Accumulated other comprehensive income (loss)
Other comprehensive income (loss), including the amounts reclassified from accumulated other comprehensive loss into earnings, was as follows: | | | | | | | | | | | | | | | | | | Amounts Arising During the Current Period | | Amounts Reclassified to Net Income (Loss) | | | (In millions) | Pretax | | Income Tax | | Pretax | | Income Tax | | Total Other Comprehensive Income (Loss) | Three months ended September 30, 2016 | | | | | | | | | | | | | | | | | | | | Amounts attributable to Brink's: | | | | | | | | | | Benefit plan adjustments | $ | (0.7 | ) | | 0.1 |
| | 12.5 |
| | (4.1 | ) | | 7.8 |
| Foreign currency translation adjustments | (3.4 | ) | | — |
| | — |
| | — |
| | (3.4 | ) | Gains (losses) on cash flow hedges | 0.1 |
| | — |
| | 0.1 |
| | (0.1 | ) | | 0.1 |
| | (4.0 | ) | | 0.1 |
| | 12.6 |
| | (4.2 | ) | | 4.5 |
| | | | | | | | | | | Amounts attributable to noncontrolling interests: | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments | — |
| | — |
| | 0.1 |
| | — |
| | 0.1 |
| Foreign currency translation adjustments | 0.4 |
| | — |
| | — |
| | — |
| | 0.4 |
| | 0.4 |
| | — |
| | 0.1 |
| | — |
| | 0.5 |
| | | | | | | | | | | Total | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments(a) | (0.7 | ) | | 0.1 |
| | 12.6 |
| | (4.1 | ) | | 7.9 |
| Foreign currency translation adjustments | (3.0 | ) | | — |
| | — |
| | — |
| | (3.0 | ) | Gains (losses) on cash flow hedges(c) | 0.1 |
| | — |
| | 0.1 |
| | (0.1 | ) | | 0.1 |
| | $ | (3.6 | ) | | 0.1 |
| | 12.7 |
| | (4.2 | ) | | 5.0 |
| | | | | | | | | | | Three months ended September 30, 2015 | |
| | |
| | |
| | |
| | |
| | | | | | | | | | | Amounts attributable to Brink's: | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments | $ | (1.1 | ) | | 0.2 |
| | 14.4 |
| | (4.9 | ) | | 8.6 |
| Foreign currency translation adjustments | (37.3 | ) | | — |
| | — |
| | — |
| | (37.3 | ) | Unrealized losses on available-for-sale securities | (0.2 | ) | | 0.1 |
| | (0.2 | ) | | 0.1 |
| | (0.2 | ) | Gains (losses) on cash flow hedges | 1.8 |
| | — |
| | (2.2 | ) | | — |
| | (0.4 | ) | | (36.8 | ) | | 0.3 |
| | 12.0 |
| | (4.8 | ) | | (29.3 | ) | | | | | | | | | | | Amounts attributable to noncontrolling interests: | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments | — |
| | — |
| | 0.2 |
| | — |
| | 0.2 |
| Foreign currency translation adjustments | (2.5 | ) | | — |
| | — |
| | — |
| | (2.5 | ) | | (2.5 | ) | | — |
| | 0.2 |
| | — |
| | (2.3 | ) | | | | | | | | | | | Total | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments(a) | (1.1 | ) | | 0.2 |
| | 14.6 |
| | (4.9 | ) | | 8.8 |
| Foreign currency translation adjustments | (39.8 | ) | | — |
| | — |
| | — |
| | (39.8 | ) | Unrealized losses on available-for-sale securities(b) | (0.2 | ) | | 0.1 |
| | (0.2 | ) | | 0.1 |
| | (0.2 | ) | Gains (losses) on cash flow hedges(c) | 1.8 |
| | — |
| | (2.2 | ) | | — |
| | (0.4 | ) | | $ | (39.3 | ) | | 0.3 |
| | 12.2 |
| | (4.8 | ) | | (31.6 | ) |
| | | | | | | | | | | | | | | | | | Amounts Arising During the Current Period | | Amounts Reclassified to Net Income (Loss) | | | (In millions) | Pretax | | Income Tax | | Pretax | | Income Tax | | Total Other Comprehensive Income (Loss) | Nine months ended September 30, 2016 | | | | | | | | | | | | | | | | | | | | Amounts attributable to Brink's: | | | | | | | | | | Benefit plan adjustments | $ | (2.6 | ) | | 0.6 |
| | 37.4 |
| | (12.8 | ) | | 22.6 |
| Foreign currency translation adjustments | 10.2 |
| | — |
| | — |
| | — |
| | 10.2 |
| Unrealized gains (losses) on available-for-sale securities | 0.5 |
| | (0.2 | ) | | (0.5 | ) | | 0.2 |
| | — |
| Gains (losses) on cash flow hedges | (2.1 | ) | | 0.5 |
| | 1.9 |
| | (0.4 | ) | | (0.1 | ) | | 6.0 |
| | 0.9 |
| | 38.8 |
| | (13.0 | ) | | 32.7 |
| | | | | | | | | | | Amounts attributable to noncontrolling interests: | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments | — |
| | — |
| | 0.4 |
| | — |
| | 0.4 |
| Foreign currency translation adjustments | 1.1 |
| | — |
| | — |
| | — |
| | 1.1 |
| | 1.1 |
| | — |
| | 0.4 |
| | — |
| | 1.5 |
| | | | | | | | | | | Total | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments(a) | (2.6 | ) | | 0.6 |
| | 37.8 |
| | (12.8 | ) | | 23.0 |
| Foreign currency translation adjustments | 11.3 |
| | — |
| | — |
| | — |
| | 11.3 |
| Unrealized gains (losses) on available-for-sale securities(b) | 0.5 |
| | (0.2 | ) | | (0.5 | ) | | 0.2 |
| | — |
| Gains (losses) on cash flow hedges(c) | (2.1 | ) | | 0.5 |
| | 1.9 |
| | (0.4 | ) | | (0.1 | ) | | $ | 7.1 |
| | 0.9 |
| | 39.2 |
| | (13.0 | ) | | 34.2 |
| | | | | | | | | | | Nine months ended September 30, 2015 | |
| | |
| | |
| | |
| | |
| | | | | | | | | | | Amounts attributable to Brink's: | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments | $ | (6.8 | ) | | 1.7 |
| | 44.2 |
| | (14.9 | ) | | 24.2 |
| Foreign currency translation adjustments | (79.7 | ) | | — |
| | — |
| | — |
| | (79.7 | ) | Unrealized losses on available-for-sale securities | (0.2 | ) | | 0.1 |
| | (0.3 | ) | | 0.1 |
| | (0.3 | ) | Gains (losses) on cash flow hedges | 3.7 |
| | — |
| | (3.7 | ) | | — |
| | — |
| | (83.0 | ) | | 1.8 |
| | 40.2 |
| | (14.8 | ) | | (55.8 | ) | | | | | | | | | | | Amounts attributable to noncontrolling interests: | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments | — |
| | — |
| | 0.4 |
| | — |
| | 0.4 |
| Foreign currency translation adjustments | (3.6 | ) | | — |
| | — |
| | — |
| | (3.6 | ) | | (3.6 | ) | | — |
| | 0.4 |
| | — |
| | (3.2 | ) | | | | | | | | | | | Total | |
| | |
| | |
| | |
| | |
| Benefit plan adjustments(a) | (6.8 | ) | | 1.7 |
| | 44.6 |
| | (14.9 | ) | | 24.6 |
| Foreign currency translation adjustments | (83.3 | ) | | — |
| | — |
| | — |
| | (83.3 | ) | Unrealized losses on available-for-sale securities(b) | (0.2 | ) | | 0.1 |
| | (0.3 | ) | | 0.1 |
| | (0.3 | ) | Gains (losses) on cash flow hedges(c) | 3.7 |
| | — |
| | (3.7 | ) | | — |
| | — |
| | $ | (86.6 | ) | | 1.8 |
| | 40.6 |
| | (14.8 | ) | | (59.0 | ) |
| | (a) | The amortization of prior experience losses and prior service cost is part of total net periodic retirement benefit cost when reclassified to net income. Net periodic retirement benefit cost also includes service costs, interest costs, expected returns on assets, and settlement costs. The total pretax expense is allocated between cost of revenues and selling, general and administrative expenses on a plan-by-plan basis: |
| | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | (In millions) | 2016 | | 2015 | | 2016 | | 2015 | Total net periodic retirement benefit cost included in: | | | | | | | | Cost of revenues | $ | 10.1 |
| | 9.0 |
| | 31.0 |
| | 27.7 |
| Selling, general and administrative expenses | 2.2 |
| | 3.5 |
| | 6.6 |
| | 10.9 |
|
| | (b) | Gains and losses on sales of available-for-sale securities are reclassified from accumulated other comprehensive loss to the income statement when the gains or losses are realized. Pretax amounts are classified in the income statement as interest and other income (expense). |
| | (c) | Pretax gains and losses on cash flow hedges are classified in the income statement as: |
| | • | other operating income (expense) ($0.1 million of gains in the three months ended September 30, 2016 and $2.2 million of gains in the three months ended September 30, 2015; as well as $1.3 million of losses in the nine months ended September 30, 2016 and $4.1 million of gains in the nine months ended September 30, 2015) |
| | • | interest and other income (expense) (no gains or losses in the three months ended September 30, 2016 and $0.1 million of losses in the three months ended September 30, 2015; as well as $0.2 million of losses in the nine months ended September 30, 2016 and $0.4 million of losses in the nine months ended September 30, 2015). |
The changes in accumulated other comprehensive loss attributable to Brink’s are as follows:
| | | | | | | | | | | | | | | | | (In millions) | Benefit Plan Adjustments | | Foreign Currency Translation Adjustments | | Unrealized Gains (Losses) on Available-for-Sale Securities | | Gains (Losses) on Cash Flow Hedges | | Total | | | | | | | | | | | Balance as of December 31, 2015 | $ | (570.5 | ) | | (322.6 | ) | | 1.1 |
| | 0.1 |
| | (891.9 | ) | Other comprehensive income (loss) before reclassifications | (2.0 | ) | | 10.2 |
| | 0.3 |
| | (1.6 | ) | | 6.9 |
| Amounts reclassified from accumulated other comprehensive loss | 24.6 |
| | — |
| | (0.3 | ) | | 1.5 |
| | 25.8 |
| Other comprehensive income (loss) attributable to Brink's | 22.6 |
| | 10.2 |
| | — |
| | (0.1 | ) | | 32.7 |
| Balance as of September 30, 2016 | $ | (547.9 | ) | | (312.4 | ) | | 1.1 |
| | — |
| | (859.2 | ) |
|