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Segmented information
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segmented information Segmented information
a) General information
The Company provides a wide range of mining and heavy civil construction services to customer in the resource development and industrial construction sectors within Canada, the United States, and Australia. A significant portion of our services are primarily focused on supporting the construction and operation of surface mines. The Company considers the basis on which it is organized, including geographic areas, to identify its operating segments. Operating segments of the Company are defined as components of the Company for which separate financial information is available and are evaluated regularly by the chief operating decision maker when allocating resources and assessing performance. The chief operating decision makers ("CODMs") are the President & CEO and the CFO of the Company.
The Company’s reportable segments are Heavy Equipment - Canada, Heavy Equipment - Australia, and Other. Heavy Equipment - Canada and Heavy Equipment - Australia include all of aspects of the mining and heavy civil construction services provided within those geographic areas. Other includes our mine management contract work in the United States, our external maintenance and rebuild programs and our equity method investments.
Segment performance is evaluated by the CODMs based on gross profit and is measured consistently with gross profit in the consolidated financial statements. Inter-segment revenues are eliminated on consolidation and reflected in the Eliminations column.
b) Results by reportable segment
For the year ended December 31, 2023Heavy Equipment - CanadaHeavy Equipment - AustraliaOtherEliminationsTotal
Revenue from external customers$760,590 $153,877 $17,981 $ $932,448 
Revenue from intersegment transactions6,330 4,731 21,982 (8,271)24,772 
Depreciation expense116,660 13,240  1,419 131,319 
Segment gross profits104,167 40,607 11,986 (2,543)154,217 
Segment assets1,079,370 718,114 101,709 (352,715)1,546,478 
Purchase of property, plant and equipment146,442 56,367   202,809 
For the year ended December 31, 2022Heavy Equipment - CanadaHeavy Equipment - AustraliaOtherEliminationsTotal
Revenue from external customers$700,863 $30,693 $21,016 $— $752,572 
Revenue from intersegment transactions7,923 — 35,947 (26,903)16,967 
Depreciation expense119,054 183 — 31 119,268 
Segment gross profits81,754 6,721 15,627 (2,554)101,548 
Segment assets874,374 29,361 94,702 (18,924)979,513 
Purchase of property, plant and equipment111,295 204 — — 111,499 
Revenue from intersegment transactions includes transactions with the Company's joint ventures accounted for using the equity method which are not eliminated upon consolidation.
c) Reconciliation
Income before income taxes
For the year ended December 31,20232022
Total gross profit for reportable segments$154,217 $101,548 
Less: unallocated corporate items:
General and administrative costs56,844 29,855 
Loss on disposal of property, plant and equipment1,659 536 
Equity earnings in affiliates and joint ventures(25,815)(37,053)
Interest expense36,948 24,543 
Change in fair value of contingent consideration4,681 — 
Gain on derivative financial instruments(6,063)(778)
Income before income taxes$85,963 $84,445 
d) Geographic information
Revenue
20232022
Canada$795,472 733,328 
Australia151,789 24,187 
United States9,959 12,024 
$957,220 769,539 
Revenue from external customers is attributed to countries on the basis of the customer's location.
Long lived assets
20232022
Canada$601,537 665,936 
Australia568,306 7,581 
$1,169,843 673,517 
Long lived assets consists of property, plant and equipment, lease assets, deferred tax assets, and other assets including intangibles. Geographic information is attributed to countries based on the location of the assets.