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v3.22.2

Segmented information | 6 Months Ended
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Jun. 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”).
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2022 | ​ | Six months ended June 30, 2022
​ |  | A&M |  | Other |  | Consolidated |  | A&M |  | Other |  | Consolidated
Service revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commissions | ​ | $ | 136,403 | ​ | $ | — | ​ | $ | 136,403 | ​ | $ | 252,778 | ​ | $ | — | ​ | $ | 252,778
Fees | ​ | ​ | 98,588 | ​ | ​ | 51,511 | ​ | ​ | 150,099 | ​ | ​ | 183,217 | ​ | ​ | 95,368 | ​ | ​ | 278,585
Total service revenue | ​ | ​ | 234,991 | ​ | ​ | 51,511 | ​ | ​ | 286,502 | ​ | ​ | 435,995 | ​ | ​ | 95,368 | ​ | ​ | 531,363
Inventory sales revenue | ​ |  | 198,044 | ​ |  | — | ​ |  | 198,044 | ​ |  | 347,104 | ​ |  | — | ​ |  | 347,104
Total revenue | ​ | $ | 433,035 | ​ | $ | 51,511 | ​ | $ | 484,546 | ​ | $ | 783,099 | ​ | $ | 95,368 | ​ | $ | 878,467
Costs of services | ​ |  | 28,985 | ​ |  | 16,054 | ​ |  | 45,039 | ​ |  | 54,559 | ​ |  | 29,495 | ​ |  | 84,054
Cost of inventory sold | ​ |  | 176,171 | ​ |  | — | ​ |  | 176,171 | ​ |  | 307,753 | ​ |  | — | ​ |  | 307,753
Selling, general and administrative | ​ |  | 125,535 | ​ |  | 18,742 | ​ |  | 144,277 | ​ |  | 234,346 | ​ |  | 36,537 | ​ |  | 270,883
Segment profit | ​ | $ | 102,344 | ​ | $ | 16,715 | ​ | $ | 119,059 | ​ | $ | 186,441 | ​ | $ | 29,336 | ​ | $ | 215,777
Acquisition-related costs | ​ |  |  | ​ |  |  | ​ |  | 3,399 | ​ |  |  | ​ |  |  | ​ |  | 13,036
Depreciation and amortization | ​ |  |  | ​ |  |  | ​ |  | 24,298 | ​ |  |  | ​ |  |  | ​ |  | 48,523
Foreign exchange gain | ​ |  |  | ​ |  |  | ​ |  | (158) | ​ |  |  | ​ |  |  | ​ |  | (322)
Total operating expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 393,026 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 723,927
Gain on disposition of property, plant and equipment | ​ |  |  | ​ |  |  | ​ |  | 347 | ​ |  |  | ​ |  |  | ​ |  | 170,167
Operating income | ​ |  |  | ​ |  |  | ​ | $ | 91,867 | ​ |  |  | ​ |  |  | ​ | $ | 324,707
Interest expense | ​ |  |  | ​ |  |  | ​ |  | (18,463) | ​ |  |  | ​ |  |  | ​ |  | (39,149)
Change in fair value of derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,263
Other income, net | ​ |  |  | ​ |  |  | ​ |  | 1,639 | ​ |  |  | ​ |  |  | ​ |  | 2,559
Income tax expense | ​ |  |  | ​ |  |  | ​ |  | (21,632) | ​ |  |  | ​ |  |  | ​ |  | (57,868)
Net income | ​ |  |  | ​ |  |  | ​ | $ | 53,411 | ​ |  |  | ​ |  |  | ​ | $ | 231,512
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2021 | ​ | Six months ended June 30, 2021
​ |  | A&M |  | Other |  | Consolidated |  | A&M |  | Other |  | Consolidated
Service revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commissions | ​ | $ | 129,334 | ​ | $ | — | ​ | $ | 129,334 | ​ | $ | 233,309 | ​ | $ | — | ​ | $ | 233,309
Fees | ​ | ​ | 83,334 | ​ | ​ | 40,080 | ​ | ​ | 123,414 | ​ | ​ | 151,430 | ​ | ​ | 74,039 | ​ | ​ | 225,469
Total service revenue | ​ | ​ | 212,668 | ​ | ​ | 40,080 | ​ | ​ | 252,748 | ​ | ​ | 384,739 | ​ | ​ | 74,039 | ​ | ​ | 458,778
Inventory sales revenue | ​ |  | 143,613 | ​ |  | — | ​ |  | 143,613 | ​ |  | 269,138 | ​ |  | — | ​ |  | 269,138
Total revenue | ​ | $ | 356,281 | ​ | $ | 40,080 | ​ | $ | 396,361 | ​ | $ | 653,877 | ​ | $ | 74,039 | ​ | $ | 727,916
Costs of services | ​ |  | 25,176 | ​ |  | 16,125 | ​ |  | 41,301 | ​ |  | 49,480 | ​ |  | 29,687 | ​ |  | 79,167
Cost of inventory sold | ​ |  | 131,023 | ​ |  | — | ​ |  | 131,023 | ​ |  | 241,770 | ​ |  | — | ​ |  | 241,770
Selling, general and administrative | ​ |  | 99,215 | ​ |  | 10,345 | ​ |  | 109,560 | ​ |  | 201,996 | ​ |  | 21,803 | ​ |  | 223,799
Segment profit | ​ | $ | 100,867 | ​ | $ | 13,610 | ​ | $ | 114,477 | ​ | $ | 160,631 | ​ | $ | 22,549 | ​ | $ | 183,180
Acquisition-related costs | ​ |  | ​ | ​ |  |  | ​ |  | 3,049 | ​ |  |  | ​ |  |  | ​ |  | 5,971
Depreciation and amortization | ​ |  |  | ​ |  | ​ | ​ |  | 21,935 | ​ |  |  | ​ |  |  | ​ |  | 43,005
Foreign exchange loss | ​ |  | ​ | ​ |  | ​ | ​ |  | 151 | ​ |  |  | ​ |  |  | ​ |  | 428
Total operating expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 307,019 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 594,140
Gain on disposition of property, plant and equipment | ​ |  | ​ | ​ |  | ​ | ​ |  | 175 | ​ |  |  | ​ |  |  | ​ |  | 243
Operating income | ​ |  | ​ | ​ |  | ​ | ​ | $ | 89,517 | ​ |  |  | ​ |  |  | ​ | $ | 134,019
Interest expense | ​ |  | ​ | ​ |  |  | ​ |  | (8,867) | ​ |  |  | ​ |  |  | ​ |  | (17,813)
Other income, net | ​ |  | ​ | ​ |  |  | ​ |  | 1,196 | ​ |  |  | ​ |  |  | ​ |  | 2,198
Income tax expense | ​ |  |  | ​ |  |  | ​ |  | (21,065) | ​ |  |  | ​ |  |  | ​ |  | (29,484)
Net income | ​ |  |  | ​ |  |  | ​ | $ | 60,781 | ​ |  |  | ​ |  |  | ​ | $ | 88,920
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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | United | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Total revenue for the three months ended: | ​ | States | ​ | Canada | ​ | Australia | ​ | Europe | ​ | Other | ​ | Consolidated
June 30, 2022 | ​ | $ | 215,466 | ​ | $ | 143,466 | ​ | $ | 71,734 | ​ | $ | 36,989 | ​ | $ | 16,891 | ​ | $ | 484,546
June 30, 2021 | ​ | ​ | 183,391 | ​ |  | 98,690 | ​ | ​ | 44,514 | ​ |  | 55,467 | ​ |  | 14,299 | ​ |  | 396,361
Total revenue for the six months ended: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
June 30, 2022 | ​ | $ | 463,416 | ​ | $ | 208,699 | ​ | $ | 100,809 | ​ | $ | 74,809 | ​ | $ | 30,734 | ​ | $ | 878,467
June 30, 2021 | ​ | ​ | 390,805 | ​ |  | 147,168 | ​ | ​ | 64,077 | ​ |  | 102,643 | ​ |  | 23,223 | ​ |  | 727,916
​

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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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