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v3.22.4

Segmented Information | 12 Months Ended
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Dec. 31, 2022
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 onsite auctions, its online auctions and marketplaces, and its brokerage service; and
● | Other includes the results of Ritchie Bros. Financial Services (“RBFS”), Rouse, SmartEquip, Mascus & RitchieList online services, 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”) and appraisals and inspections.
5. Segmented Information (continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2022
​ | ​ | A&M |  | Other |  | Consolidated
Service revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commissions | ​ | $ | 485,916 | ​ | $ | — | ​ | $ | 485,916
Fees | ​ | ​ | 366,079 | ​ | ​ | 198,588 | ​ | ​ | 564,667
Total service revenue | ​ | ​ | 851,995 | ​ | ​ | 198,588 | ​ | ​ | 1,050,583
Inventory sales revenue | ​ |  | 683,225 | ​ | ​ | — | ​ |  | 683,225
Total revenue | ​ | $ | 1,535,220 | ​ | $ | 198,588 | ​ | $ | 1,733,808
Costs of services | ​ |  | 104,902 | ​ |  | 63,225 | ​ |  | 168,127
Cost of inventory sold | ​ |  | 608,574 | ​ |  | — | ​ |  | 608,574
Selling, general and administrative | ​ |  | 466,251 | ​ |  | 73,682 | ​ |  | 539,933
Segment profit | ​ | $ | 355,493 | ​ | $ | 61,681 | ​ | $ | 417,174
Acquisition-related costs | ​ | ​ | ​ | ​ |  |  | ​ |  | 37,261
Depreciation and amortization | ​ | ​ | ​ | ​ |  |  | ​ |  | 97,155
Foreign exchange gain | ​ | ​ | ​ | ​ |  |  | ​ |  | (954)
Total operating expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,450,096
Gain on disposition of property, plant and equipment | ​ | ​ | ​ | ​ |  |  | ​ |  | 170,833
Operating income | ​ | ​ | ​ | ​ |  |  | ​ | $ | 454,545
Interest expense | ​ | ​ | ​ | ​ |  |  | ​ |  | (57,880)
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 6,971
Change in fair value of derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,263
Other income, net | ​ | ​ | ​ | ​ |  |  | ​ |  | 1,089
Income tax expense | ​ | ​ | ​ | ​ |  |  | ​ |  | (86,230)
Net income | ​ | ​ | ​ | ​ |  |  | ​ | $ | 319,758
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2021
​ | ​ | A&M |  | Other |  | Consolidated
Service revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commissions | ​ | $ | 469,718 | ​ | $ | — | ​ | $ | 469,718
Fees | ​ | ​ | 293,408 | ​ | ​ | 154,633 | ​ | ​ | 448,041
Total service revenue | ​ | ​ | 763,126 | ​ | ​ | 154,633 | ​ | ​ | 917,759
Inventory sales revenue | ​ |  | 499,212 | ​ |  | — | ​ |  | 499,212
Total revenue | ​ | $ | 1,262,338 | ​ | $ | 154,633 | ​ | $ | 1,416,971
Costs of services | ​ |  | 97,423 | ​ |  | 57,835 | ​ |  | 155,258
Cost of inventory sold | ​ |  | 447,921 | ​ |  | — | ​ |  | 447,921
Selling, general and administrative | ​ |  | 406,360 | ​ |  | 49,843 | ​ |  | 456,203
Segment profit | ​ | $ | 310,634 | ​ | $ | 46,955 | ​ | $ | 357,589
Acquisition-related costs | ​ | ​ | ​ | ​ |  |  | ​ |  | 30,197
Depreciation and amortization | ​ | ​ | ​ | ​ |  |  | ​ |  | 87,889
Foreign exchange loss | ​ | ​ | ​ | ​ |  |  | ​ |  | 792
Total operating expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,178,260
Gain on disposition of property, plant and equipment | ​ | ​ | ​ | ​ |  |  | ​ |  | 1,436
Operating income | ​ | ​ | ​ | ​ |  |  | ​ | $ | 240,147
Interest expense | ​ | ​ | ​ | ​ |  |  | ​ |  | (36,993)
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,402
Change in fair value of derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,248)
Other income, net | ​ | ​ | ​ | ​ |  |  | ​ |  | 1,924
Income tax expense | ​ | ​ | ​ | ​ |  |  | ​ |  | (53,378)
Net income | ​ | ​ | ​ | ​ |  |  | ​ | $ | 151,854
​ 5. Segmented Information (continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2020
​ | ​ | A&M |  | Other |  | Consolidated
Service revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commissions | ​ | $ | 452,882 | ​ | $ | — | ​ | $ | 452,882
Fees | ​ | ​ | 291,775 | ​ | ​ | 126,939 | ​ | ​ | 418,714
Total service revenue | ​ | ​ | 744,657 | ​ | ​ | 126,939 | ​ | ​ | 871,596
Inventory sales revenue | ​ |  | 505,664 | ​ |  | — | ​ |  | 505,664
Total revenue | ​ | $ | 1,250,321 | ​ | $ | 126,939 | ​ | $ | 1,377,260
Costs of services | ​ |  | 103,232 | ​ |  | 61,296 | ​ |  | 164,528
Cost of inventory sold | ​ |  | 458,293 | ​ |  | — | ​ |  | 458,293
SG&A expenses | ​ |  | 382,254 | ​ |  | 28,037 | ​ |  | 410,291
Segment profit | ​ | $ | 306,542 | ​ | $ | 37,606 | ​ | $ | 344,148
Acquisition-related costs | ​ | ​ | ​ | ​ |  |  | ​ |  | 6,014
D&A expenses | ​ | ​ | ​ | ​ |  |  | ​ | ​ | 74,921
Foreign exchange loss | ​ | ​ | ​ | ​ |  |  | ​ | ​ | 1,612
Total operating expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,115,659
Gain on disposition of property, plant and equipment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,559
Operating income | ​ | ​ | ​ | ​ |  |  | ​ | $ | 263,160
Interest expense | ​ | ​ | ​ | ​ |  |  | ​ | ​ | (35,568)
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,337
Other income, net | ​ | ​ | ​ | ​ |  |  | ​ |  | 5,959
Income tax expense | ​ | ​ | ​ | ​ |  |  | ​ |  | (65,530)
Net income | ​ | ​ | ​ | ​ |  |  | ​ | $ | 170,358
​ 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, |  | 2022 |  | 2021
A&M | ​ | $ | 651,539 | ​ | $ | 653,183
Other | ​ |  | ​ | ​ | ​ | ​
Mascus | ​ | ​ | 18,846 | ​ | ​ | 19,984
Rouse | ​ | ​ | 163,968 | ​ | ​ | 163,968
SmartEquip | ​ | ​ | 114,463 | ​ | ​ | 110,580
Total Goodwill | ​ | $ | 948,816 | ​ | $ | 947,715
​ 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 |  | Australia |  | Europe |  | Other |  | Consolidated
Total revenue for the year ended: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |
December 31, 2022 | ​ | $ | 970,848 | ​ | $ | 375,670 | ​ | $ | 181,339 | ​ | $ | 143,232 | ​ | $ | 62,719 | ​ | $ | 1,733,808
December 31, 2021 | ​ |  | 748,730 | ​ |  | 281,105 | ​ | ​ | 149,551 | ​ |  | 183,004 | ​ |  | 54,581 | ​ |  | 1,416,971
December 31, 2020 | ​ |  | 754,815 | ​ | ​ | 305,236 | ​ | ​ | 119,490 | ​ | ​ | 158,999 | ​ | ​ | 38,720 | ​ | ​ | 1,377,260
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | United |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ |  | States |  | Canada |  | Australia |  | Europe |  | Other |  | Consolidated
Property, plant and equipment: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |
December 31, 2022 | ​ | $ | 241,937 | ​ | $ | 87,264 | ​ | $ | 20,035 | ​ | $ | 86,702 | ​ | $ | 23,199 | ​ | $ | 459,137
December 31, 2021 | ​ |  | 232,351 | ​ | ​ | 93,826 | ​ | ​ | 21,478 | ​ | ​ | 75,538 | ​ | ​ | 25,894 | ​ |  | 449,087
​

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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