XML 31 R13.htm IDEA: XBRL DOCUMENT
v3.21.2

Segmented information | 9 Months Ended
--- | ---
Sep. 30, 2021
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 on site auctions, its online auctions and marketplaces, and its brokerage service;
● | Other includes the results of Rouse, Ritchie Bros. Financial Services (“RBFS”), Mascus online services, and the results from various value-added services and make-ready activities, including the Company’s equipment refurbishment services, Asset Appraisal Services, and Ritchie Bros. Logistical Services (“RB Logistics”).
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, 2021 | ​ | Nine months ended September 30, 2021 | ​
​ |  | A&M |  | Other |  | Consolidated |  | A&M |  | Other |  | Consolidated | ​
Service revenue | ​ | $ | 178,344 | ​ | $ | 35,849 | ​ | $ | 214,193 | ​ | $ | 560,573 | ​ | $ | 112,398 | ​ | $ | 672,971 | ​
Inventory sales revenue | ​ |  | 115,489 | ​ |  | — | ​ |  | 115,489 | ​ |  | 384,627 | ​ |  | — | ​ |  | 384,627 | ​
Total revenue | ​ | $ | 293,833 | ​ | $ | 35,849 | ​ | $ | 329,682 | ​ | $ | 945,200 | ​ | $ | 112,398 | ​ | $ | 1,057,598 | ​
Costs of services | ​ |  | 19,751 | ​ |  | 13,287 | ​ |  | 33,038 | ​ |  | 63,326 | ​ |  | 44,781 | ​ |  | 108,107 | ​
Cost of inventory sold | ​ |  | 102,993 | ​ |  | — | ​ |  | 102,993 | ​ |  | 344,763 | ​ |  | — | ​ |  | 344,763 | ​
Selling, general and administrative expenses ("SG&A") | ​ |  | 96,194 | ​ |  | 12,384 | ​ |  | 108,578 | ​ |  | 301,956 | ​ |  | 34,519 | ​ |  | 336,475 | ​
Segment profit | ​ | $ | 74,895 | ​ | $ | 10,178 | ​ | $ | 85,073 | ​ | $ | 235,155 | ​ | $ | 33,098 | ​ | $ | 268,253 | ​
Acquisition-related costs | ​ |  |  | ​ |  |  | ​ |  | 10,255 | ​ |  |  | ​ |  |  | ​ |  | 16,226 | ​
Depreciation and amortization expenses ("D&A") | ​ |  |  | ​ |  |  | ​ |  | 21,907 | ​ |  |  | ​ |  |  | ​ |  | 64,912 | ​
Gain on disposition of property, plant and equipment ("PPE") | ​ |  |  | ​ |  |  | ​ |  | (1,068) | ​ |  |  | ​ |  |  | ​ |  | (1,311) | ​
Foreign exchange loss | ​ |  |  | ​ |  |  | ​ |  | 360 | ​ |  |  | ​ |  |  | ​ |  | 788 | ​
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 | ​ |  |  | ​ |  |  | ​ | $ | 121,277 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, 2020 | ​ | Nine months ended September 30, 2020 | ​
​ |  | A&M |  | Other |  | Consolidated |  | A&M |  | Other |  | Consolidated | ​
Service revenue | ​ | $ | 188,949 | ​ | $ | 33,730 | ​ | $ | 222,679 | ​ | $ | 543,340 | ​ | $ | 96,601 | ​ | $ | 639,941 | ​
Inventory sales revenue | ​ |  | 108,863 | ​ |  | — | ​ |  | 108,863 | ​ |  | 353,906 | ​ |  | — | ​ |  | 353,906 | ​
Total revenue | ​ | $ | 297,812 | ​ | $ | 33,730 | ​ | $ | 331,542 | ​ | $ | 897,246 | ​ | $ | 96,601 | ​ | $ | 993,847 | ​
Costs of services | ​ |  | 21,733 | ​ |  | 17,490 | ​ |  | 39,223 | ​ |  | 69,018 | ​ |  | 49,008 | ​ |  | 118,026 | ​
Cost of inventory sold | ​ |  | 96,253 | ​ |  | — | ​ |  | 96,253 | ​ |  | 320,972 | ​ |  | — | ​ |  | 320,972 | ​
SG&A expenses | ​ |  | 103,933 | ​ |  | 6,253 | ​ |  | 110,186 | ​ |  | 290,077 | ​ |  | 19,126 | ​ |  | 309,203 | ​
Segment profit | ​ | $ | 75,893 | ​ | $ | 9,987 | ​ | $ | 85,880 | ​ | $ | 217,179 | ​ | $ | 28,467 | ​ | $ | 245,646 | ​
D&A expenses | ​ |  |  | ​ |  | ​ | ​ |  | 18,436 | ​ |  |  | ​ |  |  | ​ |  | 55,586 | ​
Gain on disposition of PPE | ​ |  | ​ | ​ |  | ​ | ​ |  | (276) | ​ |  |  | ​ |  |  | ​ |  | (1,536) | ​
Foreign exchange loss | ​ |  | ​ | ​ |  | ​ | ​ |  | 336 | ​ |  |  | ​ |  |  | ​ |  | 1,330 | ​
Operating income | ​ |  | ​ | ​ |  | ​ | ​ | $ | 67,384 | ​ |  |  | ​ |  |  | ​ | $ | 190,266 | ​
Interest expense | ​ |  | ​ | ​ |  |  | ​ |  | (8,737) | ​ |  |  | ​ |  |  | ​ |  | (26,801) | ​
Other income, net | ​ |  | ​ | ​ |  |  | ​ |  | 2,280 | ​ |  |  | ​ |  |  | ​ |  | 6,714 | ​
Income tax expense | ​ |  |  | ​ |  |  | ​ |  | (15,437) | ​ |  |  | ​ |  |  | ​ |  | (48,741) | ​
Net income | ​ |  |  | ​ |  |  | ​ | $ | 45,490 | ​ |  |  | ​ |  |  | ​ | $ | 121,438 | ​
​ The chief operating decision maker “CODM” 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. ​ 6. Segmented information (continued) The Company’s geographic breakdown of total revenue is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | United | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
​ | ​ | States | ​ | Canada | ​ | Europe | ​ | Other | ​ | Consolidated
Total revenue for the three months ended: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
September 30, 2021 | ​ | $ | 173,137 | ​ | $ | 55,925 | ​ | $ | 40,620 | ​ | $ | 60,000 | ​ | $ | 329,682
September 30, 2020 | ​ | ​ | 177,883 | ​ |  | 58,059 | ​ |  | 41,891 | ​ |  | 53,709 | ​ |  | 331,542
Total revenue for the nine months ended: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2021 | ​ | $ | 563,941 | ​ | ​ | 203,093 | ​ | $ | 143,263 | ​ | $ | 147,301 | ​ | $ | 1,057,598
September 30, 2020 | ​ | ​ | 573,001 | ​ |  | 191,692 | ​ |  | 115,659 | ​ |  | 113,495 | ​ |  | 993,847
​

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration