RITCHIE BROS AUCTIONEERS INC (RBA) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Auctions and Marketplaces	1,535.2	1,262.3	1,250.3	1,193.4	1,046.5	870.8	1,045.2	505.9
Service Revenue					749.5	624.4
Inventory Sales Revenue	683.2	499.2	505.7	514.6	420.5	346.8
Other	198.6	54.6	126.9	55.7	123.5	100.4	168.2	43.1
Total revenues [+]	1,733.8	1,417.0	1,377.3	1,318.6	1,170.0	971.2	1,127.0	515.9
Services								515.9
Revenue growth [+]	22.4%	2.9%	4.4%	12.7%	20.5%	-13.8%	118.5%	7.2%
Auctions and Marketplaces	21.6%	1.0%	4.8%	14.0%	20.2%	-16.7%	106.6%
Service Revenue					20.0%
Inventory Sales Revenue	36.9%	-1.3%	-1.7%	22.4%	21.3%
Other	263.8%	-57.0%	127.9%	-54.9%	23.0%	-40.3%	290.1%	227.1%
Cost of goods sold [+]	604.9	602.5	622.9	642.9	533.2	442.2	938.4	82.7
Cost of services								56.0
Gross profit	1,128.9	814.4	754.4	675.8	636.8	528.9	188.6	433.2
Gross margin	65.1%	57.5%	54.8%	51.2%	54.4%	54.5%	16.7%	84.0%
Selling, general and administrative	539.9	456.2	410.3	382.4	382.7	323.3	283.5	254.4
Equity in earnings								0.9
Other operating expenses	-170.8	-1.4	-1.6				-310.3	-29.0
EBITDA [+]	759.8	359.7	345.7	293.4	254.2	205.7	215.4	208.7
EBITDA growth	111.2%	4.1%	17.8%	15.4%	23.6%	-4.5%	3.2%	17.6%
EBITDA margin	43.8%	25.4%	25.1%	22.2%	21.7%	21.2%	19.1%	40.5%
Depreciation and amortization	97.2	87.9	74.9	70.5	66.6	52.7	40.9	42.0
EBIT [+]	662.6	271.8	270.7	222.9	187.6	153.0	174.5	166.7
EBIT growth	143.8%	0.4%	21.5%	18.8%	22.6%	-12.3%	4.7%	25.4%
EBIT margin	38.2%	19.2%	19.7%	16.9%	16.0%	15.8%	15.5%	32.3%
Non-recurring items [+]	208.1	31.6	7.6	-0.3	2.4	45.5	38.8	-9.1
Asset impairment						8.9	28.2
Loss (gain) on sale of assets	170.8	1.4	1.6	-1.1	-2.7	-1.7	-1.3	-9.7
Interest expense, net [+]	50.9	35.6	33.2	41.3	44.5	38.3	5.6	2.3
Interest expense	57.9	37.0	35.6	41.3	44.5	38.3	5.6	5.0
Interest income	7.0	1.4	2.3					2.7
Other income (expense), net [+]	2.4	0.7	6.0	8.8	11.9	8.2	0.3	3.0
Gain (loss) on debt retirement							-6.8
Gain (loss) on foreign currency transactions	-1.0	0.8	1.6	-2.9	-0.2	2.6	1.4	-2.3
Other	1.1	1.9	6.0	8.8	11.9	8.2	7.1	3.0
Pre-tax income	406.0	205.2	235.9	190.8	152.5	77.4	130.5	176.4
Income taxes	86.2	53.4	65.5	41.6	31.0	2.1	37.0	37.9
Tax rate	21.2%	26.0%	27.8%	21.8%	20.3%	2.7%	28.3%	21.5%
Minority interest	0.1	0.0	0.3	0.1	0.0	0.3	1.7	2.4
Net income	319.7	151.9	170.1	149.0	121.5	75.0	91.8	136.2
Net margin	18.4%	10.7%	12.4%	11.3%	10.4%	7.7%	8.1%	26.4%

Basic EPS [+]	$2.89	$1.38	$1.56	$1.37	$1.12	$0.70	$0.86	$1.27
Growth	109.6%	-11.7%	13.6%	22.2%	60.4%	-18.6%	-32.3%	50.0%
Diluted EPS [+]	$2.86	$1.36	$1.54	$1.36	$1.11	$0.69	$0.85	$1.27
Growth	109.6%	-11.6%	13.6%	22.3%	60.0%	-18.8%	-32.6%	50.0%

Dividends per share [+]	$1.04	$0.94	$0.84	$0.76	$0.70	$0.68	$0.66	$0.60
Growth	10.5%	11.9%	10.6%	8.6%	3.0%	2.9%	10.0%	11.3%

Shares outstanding (basic) [+]	110.8	110.3	109.1	108.5	108.1	107.0	106.6	107.1
Growth	0.4%	1.2%	0.5%	0.4%	1.0%	0.4%	-0.4%	-0.2%
Shares outstanding (diluted) [+]	111.9	111.4	110.3	109.8	109.4	108.1	107.5	107.4
Growth	0.4%	1.0%	0.5%	0.3%	1.2%	0.6%	0.0%	-0.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.