Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023	$	183.6
Contingent consideration not yet paid	10.1
Fair value of purchase consideration	$	193.7

Fair value of net assets acquired

Cash	$	6.8
Restricted cash	15.3
Accounts receivable	37.9
Other current assets	14.5
Property and equipment, net	39.9
Intangible assets(a)	84.2
Goodwill(b)	61.2
Other noncurrent assets	6.2
Current liabilities	(50.3)
Other noncurrent liabilities	(22.0)
Fair value of net assets acquired	$	193.7

(a)Intangible assets are composed of customer relationships ($47 million fair value and 13 year amortization period), developed technology ($27 million fair value and 12 year amortization period) and a trade name ($10 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 NoteMachine's operations with our existing Brink's operations. Goodwill of $60 million has been assigned to the Europe reporting unit and goodwill of $1 million has been assigned to the North America reporting unit. We do not 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 2022 and the first three months of 2023.



(In millions)	Revenue		Net income attributable to Brink's









Three months ended March 31, 2023
NoteMachine	$	34.1	(1.1)
Total	$	34.1	(1.1)

Three months ended March 31, 2022
NoteMachine	—		—
Total	$	—	—



(In millions)	Revenue		Net income attributable to Brink's












Pro forma results of Brink's for the three months ended March 31,
2023
Brink's as reported	$	1,185.4	15.0
NoteMachine(a)	—		—
Total	$	1,185.4	15.0

2022
Brink's as reported	$	1,074.0	71.3
NoteMachine(a)	36.0		0.6
Total	$	1,110.0	71.9

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