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Segmented information | 12 Months Ended
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Dec. 31, 2021
Segmented information |
Segmented information | 5. 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 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, Asset Appraisal Services, and Ritchie Bros. Logistical Services.
5. Segmented information (continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year ended December 31, 2021
​ |  | ​ | A&M |  | Other |  | Consolidated
Service revenue | ​ | ​ | $ | 759,303 | ​ | $ | 158,456 | ​ | $ | 917,759
Inventory sales revenue | ​ | ​ |  | 499,212 | ​ | ​ | — | ​ |  | 499,212
Total revenue | ​ | ​ | $ | 1,258,515 | ​ | $ | 158,456 | ​ | $ | 1,416,971
Costs of services | ​ | ​ |  | 85,415 | ​ |  | 61,447 | ​ |  | 146,862
Cost of inventory sold | ​ | ​ |  | 447,921 | ​ |  | — | ​ |  | 447,921
Selling, general and administrative expenses ("SG&A") | ​ | ​ |  | 414,287 | ​ |  | 50,312 | ​ |  | 464,599
Segment profit | ​ | ​ | $ | 310,892 | ​ | $ | 46,697 | ​ | $ | 357,589
Acquisition-related costs | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 30,197
Depreciation and amortization expenses ("D&A") | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 87,889
Gain on disposition of property, plant and equipment ("PPE") | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (1,436)
Foreign exchange loss | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 792
Operating income | ​ | ​ | ​ | ​ | ​ |  |  | ​ | $ | 240,147
Interest expense | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (36,993)
Change in fair value of derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,248)
Other income, net | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 3,326
Income tax expense | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (53,378)
Net income | ​ | ​ | ​ | ​ | ​ |  |  | ​ | $ | 151,854
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year ended December 31, 2020
​ |  | ​ | A&M |  | Other |  | Consolidated
Service revenue | ​ | ​ | $ | 740,043 | ​ | $ | 131,553 | ​ | $ | 871,596
Inventory sales revenue | ​ | ​ |  | 505,664 | ​ |  | — | ​ |  | 505,664
Total revenue | ​ | ​ | $ | 1,245,707 | ​ | $ | 131,553 | ​ | $ | 1,377,260
Costs of services | ​ | ​ |  | 92,195 | ​ |  | 65,101 | ​ |  | 157,296
Cost of inventory sold | ​ | ​ |  | 458,293 | ​ |  | — | ​ |  | 458,293
SG&A expenses | ​ | ​ |  | 388,442 | ​ |  | 29,081 | ​ |  | 417,523
Segment profit | ​ | ​ | $ | 306,777 | ​ | $ | 37,371 | ​ | $ | 344,148
Acquisition-related costs | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 6,014
D&A expenses | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 74,921
Gain on disposition of PPE | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (1,559)
Foreign exchange loss | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 1,612
Operating income | ​ | ​ | ​ | ​ | ​ |  |  | ​ | $ | 263,160
Interest expense | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (35,568)
Other income, net | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 8,296
Income tax expense | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (65,530)
Net income | ​ | ​ | ​ | ​ | ​ |  |  | ​ | $ | 170,358
​ 5. Segmented information (continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year ended December 31, 2019
​ | ​ | ​ | A&M |  | Other |  | Consolidated
Service revenue |  | ​ | $ | 678,823 |  | $ | 125,201 | ​ | $ | 804,024
Inventory sales revenue | ​ | ​ |  | 514,617 |  | ​ | — | ​ |  | 514,617
Total revenue | ​ | ​ | $ | 1,193,440 | ​ | $ | 125,201 | ​ |  | 1,318,641
Costs of services | ​ | ​ |  | 99,821 | ​ |  | 65,156 | ​ |  | 164,977
Cost of inventory sold | ​ | ​ |  | 480,839 | ​ |  | — | ​ |  | 480,839
SG&A expenses | ​ | ​ |  | 358,016 | ​ |  | 24,373 | ​ |  | 382,389
Segment profit | ​ | ​ | $ | 254,764 | ​ | $ | 35,672 | ​ | $ | 290,436
Acquisition-related costs | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 777
D&A expenses | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 70,501
Gain on disposition of PPE | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (1,107)
Foreign exchange gain | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (2,937)
Operating income | ​ | ​ | ​ | ​ | ​ |  |  | ​ | $ | 223,202
Interest expense | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (41,277)
Other income, net | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 8,838
Income tax expense | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (41,623)
Net income | ​ | ​ | ​ | ​ | ​ |  |  | ​ | $ | 149,140
​ 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. ​ The carrying values of goodwill are allocated as follows to A&M and Other: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, |  | 2021 |  | 2020
A&M | ​ | $ | 653,183 | ​ | $ | 653,183
Other | ​ |  | ​ | ​ | ​ | ​
Mascus | ​ | ​ | 19,984 | ​ | ​ | 21,657
Rouse | ​ | ​ | 163,968 | ​ | ​ | 165,770
SmartEquip | ​ | ​ | 110,580 | ​ | ​ | —
Total Goodwill | ​ | $ | 947,715 | ​ | $ | 840,610
​ The Company’s geographic information as determined by the revenue and location of assets, which represents property, plant and equipment is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | United |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | States | ​ | Canada | ​ | Europe | ​ | Australia | ​ | Other | ​ | Consolidated
Total revenue for the year ended: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |
December 31, 2021 | ​ | $ | 748,730 | ​ | $ | 281,105 | ​ | $ | 183,004 | ​ | $ | 149,551 | ​ | $ | 54,581 | ​ | $ | 1,416,971
December 31, 2020 | ​ |  | 754,815 | ​ | ​ | 305,236 | ​ | ​ | 158,999 | ​ | ​ | 119,490 | ​ | ​ | 38,720 | ​ |  | 1,377,260
December 31, 2019 | ​ |  | 743,793 | ​ |  | 247,737 | ​ |  | 173,054 | ​ |  | 98,365 | ​ |  | 55,692 | ​ | ​ | 1,318,641
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | United |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ |  | States |  | Canada |  | Europe |  | Australia |  | Other |  | Consolidated
Property, plant and equipment: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |
December 31, 2021 | ​ | $ | 232,351 | ​ | $ | 93,826 | ​ | $ | 75,538 | ​ | $ | 21,478 | ​ | $ | 25,894 | ​ | $ | 449,087
December 31, 2020 | ​ |  | 252,335 | ​ | ​ | 106,973 | ​ | ​ | 83,014 | ​ | ​ | 21,681 | ​ | ​ | 28,124 | ​ |  | 492,127
​

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- 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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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
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