Commitments and Contingencies

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 24. Commitments and Contingencies

Commitments

At December 31, 2025, the Company had committed to capital expenditures for property, plant and equipment totaling approximately $50.1 million (December 31, 2024: $26.9 million) and expenditures for intangible assets and technology services agreements totaling approximately $22.0 million (December 31, 2024: $26.7 million).

Legal and Other Claims

On July 31, 2023, Ann Fandozzi informed the Company’s Board of her intention to resign from her position as the Company’s Chief Executive Officer due to a disagreement with the Company regarding her compensation as Chief Executive Officer. The Board accepted her verbal resignation and interpreted her subsequent conduct as affirmation of her resignation. The Company advised Ms. Fandozzi that it was accepting her resignation effective immediately and waiving any written procedural notice requirements under the Employment Agreement by and between Ritchie Bros. Auctioneers (Canada) Ltd. and Ms. Fandozzi, dated December 14, 2019. Ms. Fandozzi disputed that she tendered her resignation. On February 21, 2024, Ms. Fandozzi formally resigned from the Company’s Board. Arbitration in accordance with the terms of Ms. Fandozzi’s employment agreement concluded on February 16, 2026, when an arbitration panel issued a final binding decision awarding Ms. Fandozzi $59.6 million.

The Company has accounted for the decision as an adjusting subsequent event and recorded an expense of $41.7 million in the year ended December 31, 2025, representing the adjustment of the previously recorded accrual to the awarded amount.

The Company is subject to legal and other claims that arise in the ordinary course of its business. Management does not believe that the results of these claims will have a material effect on the Company’s consolidated balance sheets or consolidated income statements.

Guarantee Contracts

In the normal course of business, the Company may guarantee a consignor a minimum level of proceeds in connection with the sale at auction of that consignor’s equipment.

At December 31, 2025, there were $104.9 million of assets guaranteed under contract, of which 59% is expected to be sold prior to March 31, 2026, with substantially all of the remainder to be sold by June 30, 2026 (December 31, 2024: $39.1 million of which 44% was expected to be sold prior to the end of March 31, 2025, with the remainder to be sold by December 31, 2025). The outstanding guarantee amounts are undiscounted and before estimated proceeds from sale at auction.