2018 Q1 Form 10-K Financial Statement

#000127956919000456 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2016 Q4
Revenue $260.2M $291.8M $294.8M
YoY Change 30.46% -1.04% 117.59%
Cost Of Revenue $36.66M $138.0M $576.8M
YoY Change -58.2% -76.07% 3669.93%
Gross Profit $50.26M $153.8M $130.5M
YoY Change -55.0% 17.85% 8.66%
Gross Profit Margin 19.32% 52.72% 44.26%
Selling, General & Admin $97.47M $93.00M $72.40M
YoY Change 38.06% 28.45% 6.78%
% of Gross Profit 193.93% 60.47% 55.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.19M $15.70M $10.30M
YoY Change 57.19% 52.43% -2.83%
% of Gross Profit 32.21% 10.21% 7.89%
Operating Expenses $97.47M $108.6M $82.70M
YoY Change 20.48% 31.32% 5.62%
Operating Profit $32.87M $40.04M $40.63M
YoY Change 39.31% -1.45% -2.8%
Interest Expense $11.31M -$13.60M -$5.800M
YoY Change -252.84% 134.48% -1550.0%
% of Operating Profit 34.41% -33.97% -14.28%
Other Income/Expense, Net $913.0K $1.900M $5.900M
YoY Change -60.3% -67.8% -942.86%
Pretax Income $22.48M $30.90M $35.00M
YoY Change 26.98% -11.71% -30.83%
Income Tax $5.269M -$5.900M $7.100M
% Of Pretax Income 23.44% -19.09% 20.29%
Net Earnings $17.14M $36.75M $27.85M
YoY Change 65.15% 31.96% -39.32%
Net Earnings / Revenue 6.59% 12.6% 9.45%
Basic Earnings Per Share $0.16 $0.34 $0.26
Diluted Earnings Per Share $0.16 $0.34 $0.26
COMMON SHARES
Basic Shares Outstanding 107.4M
Diluted Shares Outstanding 108.6M

Balance Sheet

Concept 2018 Q1 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $278.9M $267.9M $207.9M
YoY Change 17.73% 28.86% -1.05%
Cash & Equivalents $341.4M $267.9M $207.9M
Short-Term Investments
Other Short-Term Assets $49.06M $27.61M $75.50M
YoY Change -69.49% -63.43% -24.2%
Inventory $34.40M $38.24M $28.50M
Prepaid Expenses
Receivables $182.2M $92.11M $45.30M
Other Receivables $17.50M $19.40M $20.90M
Total Short-Term Assets $606.3M $508.5M $378.0M
YoY Change 11.04% 34.52% -12.11%
LONG-TERM ASSETS
Property, Plant & Equipment $522.9M $526.6M $515.0M
YoY Change 1.53% 2.25% -2.57%
Goodwill $670.9M $97.54M
YoY Change 587.86%
Intangibles $261.1M
YoY Change
Long-Term Investments $6.900M $7.408M $7.300M
YoY Change -4.17% 1.48% 12.31%
Other Assets $46.70M $31.55M $529.3M
YoY Change -91.24% -94.04% 3069.46%
Total Long-Term Assets $1.510B $1.509B $1.222B
YoY Change 22.91% 23.52% 77.03%
TOTAL ASSETS
Total Short-Term Assets $606.3M $508.5M $378.0M
Total Long-Term Assets $1.510B $1.509B $1.222B
Total Assets $2.116B $2.017B $1.600B
YoY Change 19.26% 26.12% 42.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $170.8M $164.6M $124.7M
YoY Change 48.01% 32.0% 226.44%
Accrued Expenses $55.33M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $5.900M $7.018M $0.00
YoY Change -76.02%
Long-Term Debt Due $9.300M $16.91M $23.90M
YoY Change -29.26% -57.09%
Total Short-Term Liabilities $491.3M $388.5M $252.8M
YoY Change 17.09% 53.66% -12.83%
LONG-TERM LIABILITIES
Long-Term Debt $771.0M $796.0M $595.7M
YoY Change 29.28% 33.62% 991.03%
Other Long-Term Liabilities $61.40M $46.77M $22.80M
YoY Change 174.11% 105.14% 83.87%
Total Long-Term Liabilities $832.4M $842.8M $618.5M
YoY Change 34.52% 36.26% 823.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $491.3M $388.5M $252.8M
Total Long-Term Liabilities $832.4M $842.8M $618.5M
Total Liabilities $1.364B $1.264B $912.5M
YoY Change 25.93% 38.47% 118.88%
SHAREHOLDERS EQUITY
Retained Earnings $602.6M
YoY Change
Common Stock $179.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $752.3M $739.7M $687.1M
YoY Change
Total Liabilities & Shareholders Equity $2.116B $2.017B $1.600B
YoY Change 19.26% 26.12% 42.8%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $17.14M $36.75M $27.85M
YoY Change 65.15% 31.96% -39.32%
Depreciation, Depletion And Amortization $16.19M $15.70M $10.30M
YoY Change 57.19% 52.43% -2.83%
Cash From Operating Activities $67.24M $49.10M $14.20M
YoY Change -50.01% 245.77% -62.73%
INVESTING ACTIVITIES
Capital Expenditures $2.564M -$10.80M -$11.90M
YoY Change -134.19% -9.24% -14.39%
Acquisitions
YoY Change
Other Investing Activities $4.674M $1.400M -$7.700M
YoY Change 211.6% -118.18% 140.63%
Cash From Investing Activities -$13.21M -$9.400M -$19.60M
YoY Change 120.1% -52.04% 14.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.313M
YoY Change
Debt Paid & Issued, Net $29.24M
YoY Change
Cash From Financing Activities -45.42M -22.70M 453.7M
YoY Change 200.77% -105.0% -3250.69%
NET CHANGE
Cash From Operating Activities 67.24M 49.10M 14.20M
Cash From Investing Activities -13.21M -9.400M -19.60M
Cash From Financing Activities -45.42M -22.70M 453.7M
Net Change In Cash 10.24M 17.00M 448.3M
YoY Change -90.97% -96.21% 6692.42%
FREE CASH FLOW
Cash From Operating Activities $67.24M $49.10M $14.20M
Capital Expenditures $2.564M -$10.80M -$11.90M
Free Cash Flow $64.67M $59.90M $26.10M
YoY Change -54.45% 129.5% -49.81%

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460000
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36846000
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71733000
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35651000
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16567000
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28801000
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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt 0pt 4pt;line-height:12pt;punctuation-wrap:hanging;vertical-align:baseline;font-family:Arial;font-size: 12pt"> <a name="_8e67e3a1df084ecd9ccdcec26be7cfe7"></a><a name="_ada0d0a1d6614bdfb8527c077292f326"></a><font style="display: inline;font-family:Calibri;font-weight:bold;font-size:12pt;">1.&nbsp;&nbsp;General information </font> </p> <p style="margin:0pt;text-align:left;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-weight:normal;line-height:12pt;text-indent:0pt;font-family:Calibri;punctuation-wrap:hanging;vertical-align:baseline;font-size: 10pt"> <font style="display: inline;font-family:Calibri Light;font-size:10pt;">Ritchie Bros. Auctioneers Incorporated and its subsidiaries (collectively referred to as the &#x201C;Company&#x201D;) provide global asset management and disposition services, offering customers end-to-end solutions for buying and selling used industrial equipment and other durable assets through its unreserved live on site auctions, online marketplaces, listing services, and private brokerage services.&nbsp;&nbsp;Ritchie Bros. Auctioneers Incorporated is a company incorporated in Canada under the Canada Business Corporations Act, whose shares are publicly traded on the Toronto Stock Exchange (&#x201C;TSX&#x201D;) and the New York Stock Exchange (&#x201C;NYSE&#x201D;).</font> </p> <p style="margin:6pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:normal;line-height:12pt;text-indent:0pt;font-family:Calibri;punctuation-wrap:hanging;vertical-align:baseline;font-size: 12pt"> <font style="display: inline;font-weight:bold;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
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6787000
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