26 unchanged sentences
Additionally, these contracts are not designated as hedges for accounting purposes, and accordingly, changes in their fair value are recorded immediately in earnings.
−Removed: In the first quarter of 2019, we entered into a long term cross currency swap contract to hedge exposure in Brazilian real, which is designated as a cash flow hedge for accounting purposes.
−Removed: At December 31, 2022, the notional value of this long term contract was $53 million with a weighted-average remaining maturity of 0.6 years.
−Removed: The effect on the fair value of these cross currency swaps of a hypothetical 10% appreciation in the forward Brazilian real exchange rates from year-end 2022 levels would result in a $5.1 million change in fair values, changing the December 31, 2022 net asset of $14.6 million to a net asset of $9.5 million.
In the second quarter of 2021, we entered into ten cross currency swap contracts to hedge a portion of our net investments in certain of our subsidiaries with euro functional currencies.
5 unchanged sentences
dollar from the 2023 levels against all other currencies of countries in which we have continuing operations are as follows:
−Removed: (In millions) Hypothetical Effects
+Added: (In millions)
+Added: Hypothetical Effects
Increase/ (decrease)
1 unchanged sentence
Translation of 2023 earnings into U.S.
−Removed: Transaction gains (losses) (b)
+Added: Transaction gains (losses) (a)
Effect on Other Comprehensive Income (Loss):
−Removed: Translation of net assets of foreign subsidiaries (b)
−Removed: (a) Excludes our Venezuela operations which we deconsolidated effective June 30, 2018.
−Removed: See Note 1 to the consolidated financial statements.
−Removed: (b) Net of outstanding foreign currency swap and forward contracts.
+Added: Translation of net assets of foreign subsidiaries (a)
+Added: (a) Net of outstanding foreign currency swap and forward contracts.
The hypothetical foreign currency effects above detail the consolidated effect attributable to Brink’s of a simultaneous change in the value of a large number of foreign currencies relative to the U.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.