XML 26 R13.htm IDEA: XBRL DOCUMENT v3.22.2.2
Segmented information
9 Months Ended
Sep. 30, 2022
Segmented information  
Segmented information

6.    Segmented information

The Company’s principal business activity is the management and disposition of used industrial equipment and other durable assets. The Company’s operations are comprised of one reportable segment and other business activities that are not reportable as follows:

●Auctions and Marketplaces – This is the Company’s only reportable segment, which consists of the Company’s live onsite auctions, its online auctions and marketplaces, and its brokerage service;
●Other includes the results of Ritchie Bros. Financial Services (“RBFS”), Rouse, Mascus online services, SmartEquip, and the results from various value-added services and make-ready activities, including the Company’s equipment refurbishment services, and Ritchie Bros. Logistical Services (“RB Logistics”).

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended September 30, 2022

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Nine months ended September 30, 2022

​

    

A&M

    

Other

    

Consolidated

    

A&M

    

Other

    

Consolidated

Service revenue:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commissions

​

$

108,238

​

$

—

​

$

108,238

​

$

361,016

​

$

—

​

$

361,016

Fees

​

​

85,689

​

​

52,769

​

​

138,458

​

​

268,906

​

​

148,137

​

​

417,043

Total service revenue

​

​

193,927

​

​

52,769

​

​

246,696

​

​

629,922

​

​

148,137

​

​

778,059

Inventory sales revenue

​

 

164,783

​

 

—

​

 

164,783

​

 

511,887

​

 

—

​

 

511,887

Total revenue

​

$

358,710

​

$

52,769

​

$

411,479

​

$

1,141,809

​

$

148,137

​

$

1,289,946

Costs of services

​

 

24,601

​

 

16,920

​

 

41,521

​

 

79,160

​

 

46,415

​

 

125,575

Cost of inventory sold

​

 

147,253

​

 

—

​

 

147,253

​

 

455,006

​

 

—

​

 

455,006

Selling, general and administrative

​

 

116,337

​

 

16,856

​

 

133,193

​

 

350,684

​

 

53,393

​

 

404,077

Segment profit

​

$

70,519

​

$

18,993

​

$

89,512

​

$

256,959

​

$

48,329

​

$

305,288

Acquisition-related costs

​

 

  

​

 

  

​

 

2,031

​

 

  

​

 

  

​

 

15,067

Depreciation and amortization

​

 

  

​

 

  

​

 

24,290

​

 

  

​

 

  

​

 

72,813

Foreign exchange gain

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​

 

  

​

 

(430)

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​

 

  

​

 

(752)

Total operating expenses

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​

​

​

​

​

​

$

347,858

​

​

​

​

​

​

​

$

1,071,786

Gain on disposition of property, plant and equipment

​

 

  

​

 

  

​

 

333

​

 

  

​

 

  

​

 

170,499

Operating income

​

 

  

​

 

  

​

$

63,954

​

 

  

​

 

  

​

$

388,659

Interest expense

​

 

  

​

 

  

​

 

(9,199)

​

 

  

​

 

  

​

 

(48,348)

Change in fair value of derivatives

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​

​

​

​

​

​

​

—

​

​

​

​

​

​

​

​

1,263

Other income, net

​

 

  

​

 

  

​

 

2,866

​

 

  

​

 

  

​

 

5,426

Income tax expense

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​

 

  

​

 

(14,697)

​

 

  

​

 

  

​

 

(72,564)

Net income

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​

 

  

​

$

42,924

​

 

  

​

 

  

​

$

274,436

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended September 30, 2021

​

Nine months ended September 30, 2021

​

    

A&M

    

Other

    

Consolidated

    

A&M

    

Other

    

Consolidated

Service revenue:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commissions

​

$

110,275

​

$

—

​

$

110,275

​

$

343,584

​

$

—

​

$

343,584

Fees

​

​

68,607

​

​

35,311

​

​

103,918

​

​

220,037

​

​

109,350

​

​

329,387

Total service revenue

​

​

178,882

​

​

35,311

​

​

214,193

​

​

563,621

​

​

109,350

​

​

672,971

Inventory sales revenue

​

 

115,489

​

 

—

​

 

115,489

​

 

384,627

​

 

—

​

 

384,627

Total revenue

​

$

294,371

​

$

35,311

​

$

329,682

​

$

948,248

​

$

109,350

​

$

1,057,598

Costs of services

​

 

22,728

​

 

12,380

​

 

35,108

​

 

72,208

​

 

42,067

​

 

114,275

Cost of inventory sold

​

 

102,993

​

 

—

​

 

102,993

​

 

344,763

​

 

—

​

 

344,763

Selling, general and administrative

​

 

94,203

​

 

12,305

​

 

106,508

​

 

296,199

​

 

34,108

​

 

330,307

Segment profit

​

$

74,447

​

$

10,626

​

$

85,073

​

$

235,078

​

$

33,175

​

$

268,253

Acquisition-related costs

​

 

​

​

 

  

​

 

10,255

​

 

  

​

 

  

​

 

16,226

Depreciation and amortization

​

 

  

​

 

​

​

 

21,907

​

 

  

​

 

  

​

 

64,912

Foreign exchange loss

​

 

​

​

 

​

​

 

360

​

 

  

​

 

  

​

 

788

Total operating expenses

​

​

​

​

​

​

​

$

277,131

​

​

​

​

​

​

​

$

871,271

Gain on disposition of property, plant and equipment

​

 

​

​

 

​

​

 

1,068

​

 

  

​

 

  

​

 

1,311

Operating income

​

 

​

​

 

​

​

$

53,619

​

 

  

​

 

  

​

$

187,638

Interest expense

​

 

​

​

 

  

​

 

(8,807)

​

 

  

​

 

  

​

 

(26,620)

Other income, net

​

 

​

​

 

  

​

 

602

​

 

  

​

 

  

​

 

2,800

Income tax expense

​

 

  

​

 

  

​

 

(13,057)

​

 

  

​

 

  

​

 

(42,541)

Net income

​

 

  

​

 

  

​

$

32,357

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​

 

  

​

$

121,277

6.    Segmented information (continued)

​

The Chief Operating Decision Maker does not evaluate the performance of the Company’s operating segments or assess allocation of resources based on segment assets and liabilities, nor does the Company classify liabilities on a segmented basis.

​

The Company’s geographic breakdown of total revenue and location is as follows:

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​

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​

​

​

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​

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​

​

​

​

United 

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​

​

​

​

​

  

​

​

​

​

​

Total revenue for the three months ended:

​

States

​

Canada

​

Australia

​

Europe

​

Other

​

Consolidated

September 30, 2022

​

$

258,117

​

$

74,866

​

$

37,225

​

$

27,149

​

$

14,122

​

$

411,479

September 30, 2021

​

​

173,137

​

 

55,925

​

​

46,488

​

 

40,620

​

 

13,512

​

 

329,682

Total revenue for the nine months ended:

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2022

​

$

721,533

​

$

283,565

​

$

138,034

​

$

101,958

​

$

44,856

​

$

1,289,946

September 30, 2021

​

​

563,942

​

 

203,093

​

​

110,565

​

 

143,263

​

 

36,735

​

 

1,057,598

​