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Acquisitions and Dispositions (Tables)
 3 Months Ended
Mar. 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 March 31, 2019
$
546.8

Fair value of purchase consideration
$
546.8

 
 
Fair value of net assets acquired(a)
 
 
 
Cash
$
25.8

Accounts receivable
31.9

Other current assets
11.7

Property and equipment, net
57.0

Intangible assets(b)
162.0

Goodwill(c)
307.1

Other noncurrent assets
21.1

Current liabilities
(29.7
)
Noncurrent liabilities
(40.1
)
Fair value of net assets acquired
$
546.8


(a)
Final allocation will be determined once the valuation is complete.
(b)
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).
(c)
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 March 31, 2019
$
133.1

Indemnification asset
(1.9
)
Fair value of purchase consideration
$
131.2

 
 
Fair value of net assets acquired(a)
 
 
 
Cash
$
1.4

Accounts receivable
8.2

Other current assets
0.4

Property and equipment, net
3.7

Intangible assets(b)
47.9

Goodwill(c)
80.4

Other noncurrent assets
5.1

Current liabilities
(9.6
)
Noncurrent liabilities
(6.3
)
Fair value of net assets acquired
$
131.2


(a)
Final allocation will be determined once the valuation is complete.
(b)
Intangible assets are composed of customer relationships ($46 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).
(c)
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.
Business Acquisition, Pro Forma Information
The pro forma consolidated results of Brink’s presented below reflect a hypothetical ownership as of January 1, 2017 for the businesses we acquired during 2018 and a hypothetical ownership as of January 1, 2018 for the business we acquired in the first three months of 2019.
(In millions)
Revenue
 
Net income (loss) attributable to Brink's
 
 
 
 
Actual results included in Brink's consolidated results for businesses acquired in 2018 and 2019 from the date of acquisition
 
 
 
 
 
 
 
Three months ended March 31, 2019
 
 
 
Rodoban
$
18.6

 
0.6

Dunbar
93.6

 
2.9

Total
$
112.2

 
3.5

 
 
 
 
Three months ended March 31, 2018
 
 
 
Rodoban
$
—

 
—

Dunbar
—

 
—

Total
$
—

 
—



(In millions)
Revenue
 
Net income (loss) attributable to Brink's
 
 
 
 
Pro forma results of Brink's for the three months ended March 31
 
 
 
2019
 
 
 
Brink's as reported
$
905.0

 
13.7

Rodoban(a)
0.6

 
—

Dunbar(a)
—

 
—

Total
$
905.6

 
13.7

 
 
 
 
2018
 
 
 
Brink's as reported
$
879.1

 
22.3

Rodoban(a)
20.6

 
(0.7
)
Dunbar(a)
99.7

 
2.2

Total
$
999.4

 
23.8


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