Mine looks like this in 4.1.9....
<font color="#FFFFFF">
{if $location}
{strip}
<a href="home.php" class="NavigationPath">
Home</a> >
{section name=position loop=$location start=1}
{if $location[position].1 ne "" }<A href="{$location[position].1}" class="NavigationPath">{/if}
{$location[position].0} {if $location[position].1 ne "" }</A>{/if}
{if not %position.last%} > {/if}
{/section}
{/strip}
{/if}
</font>