Segment information

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment information

Segment information

The Brink’s Company offers transportation and logistics management services for cash and valuables throughout the world.  These services include:

• Cash-in-Transit (“CIT”) Services – armored vehicle transportation of valuables

• ATM Services – replenishing and maintaining customers’ automated teller machines; providing network infrastructure services

• Global Services – secure international transportation of valuables

• Cash Management Services

◦ Currency and coin counting and sorting; deposit preparation and reconciliations; other cash management services

◦ Safe and safe control device installation and servicing (including our patented CompuSafe^® service)

◦ Check and cash processing services for banking customers (“Virtual Vault Services”)

◦ Check imaging services for banking customers

• Payment Services – bill payment and processing services on behalf of utility companies and other billers at any of our Brink’s or Brink’s-operated payment locations in Latin America and Brink’s Money™ general purpose reloadable prepaid cards and payroll cards in the U.S.

• Guarding Services – protection of airports, offices, and certain other locations in Europe and Brazil with or without electronic surveillance, access control, fire prevention and highly trained patrolling personnel

We identify our operating segments based on how our chief operating decision maker (“CODM”) allocates resources, assesses performance and makes decisions.  Our CODM is our President and Chief Executive Officer.  Our CODM evaluates performance and allocates resources to each operating segment based on operating profit or loss, excluding income and expenses not allocated to segments.

During the first quarter of 2017, we implemented changes to our organizational and management structure that resulted in changes to our operating segments for financial reporting purposes. Through the fiscal year ended December 31, 2016, our business was reported in nine operating segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. Changes in our management reporting structure during the first quarter of 2017 required us to conduct an assessment in accordance with ASC Topic 280, Segment Reporting, to determine our operating segments.

As a result of this assessment, we now have the following operating segments:

• North America

• South America

• Rest of World (ROW).

Prior period information has been revised to reflect our new segment structure.

The following table summarizes our revenues and operating profit for each of our reportable segments:

	Revenues			Operating Profit
	Three Months Ended March 31,			Three Months Ended March 31,
(In millions)	2017		2016	2017			2016
Reportable Segments:
North America	$	304.6	292.7	$	10.2		3.7
South America	202.2		157.0	38.7			23.7
Rest of World	233.5		239.2	25.3			18.4
Total reportable segments	740.3		688.9	74.2			45.8
Reconciling Items:
Corporate expenses:
General, administrative and other expenses	—		—	(19.2		)	(17.6	)
Foreign currency transaction gains (losses)	—		—	(1.2		)	1.3
Reconciliation of segment policies to GAAP	—		—	(0.9		)	3.2
Other items not allocated to segments:
Venezuela operations	48.1		32.1	21.1			2.7
Reorganization and Restructuring	—		—	(4.1		)	(6.0	)
Acquisitions and dispositions	—		0.8	1.0			(5.9	)
Total	$	788.4	721.8	$	70.9		23.5

See "Other Items Not Allocated to Segment" on pages 27–28 for explanations of each of the other items not allocated to segments.

	Three Months Ended March 31,
(In millions)	2017		2016
Capital Expenditures by Business Segment
North America	$	13.2	10.3
South America	5.0		2.6
Rest of World	4.8		5.9
Total reportable segments	23.0		18.8
Corporate items	4.3		1.8
Venezuela	0.5		0.2
Total	$	27.8	20.8
Depreciation and Amortization by Business Segment
Depreciation and amortization of property and equipment:
North America	$	16.7	16.5
South America	5.2		4.4
Rest of World	7.3		7.5
Total reportable segments	29.2		28.4
Corporate items	2.8		2.8
Venezuela	0.4		0.1
Reorganization and Restructuring	0.9		—
Depreciation and amortization of property and equipment	33.3		31.3
Amortization of intangible assets:
South America	0.5		0.5
Rest of World	0.1		0.4
Amortization of intangible assets	0.6		0.9
Total	$	33.9	32.2

	March 31,		December 31,
(In millions)	2017		2016
Assets held by Segment
North America	$	705.4	629.4
South America	398.2		371.4
Rest of World	660.1		621.8
Total reportable segments	1,763.7		1,622.6
Corporate items	325.0		321.3
Venezuela	74.2		50.9
Total	$	2,162.9	1,994.8