RB Global (RBA) 10-Q 10 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 09, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-13425
Entity Registrant Name	Ritchie Bros. Auctioneers Incorporated
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	98-0626225
Entity Address, Address Line One	Two Westbrook Corporate Center
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Westchester
Entity Address, State or Province	IL
Entity Address, Country	US
Entity Address, Postal Zip Code	60154
City Area Code	708
Local Phone Number	492-7000
Title of 12(b) Security	Common shares
Trading Symbol	RBA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		181,790,031
Entity Central Index Key	0001046102
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Income S

Condensed Consolidated Income Statements - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Total revenue	$ 512.4	$ 393.9
Operating expenses:
Selling, general and administrative	148.2	126.6
Acquisition-related and integration costs	126.2	9.6
Depreciation and amortization	36.2	24.2
Total operating expenses	538.5	331
Gain on disposition of property, plant and equipment	1.2	169.8
Operating (loss) income	(24.9)	232.7
Interest expense	(20.9)	(20.7)
Interest income	6.3	0.5
Change in fair value of derivatives, net		1.3
Other income, net	2.4	0.3
Foreign exchange (loss) gain	(0.4)	0.2
(Loss) income before income taxes	(37.5)	214.3
Income tax (benefit) expense	(9.3)	36.2
Net (loss) income	(28.2)	178.1
Net (loss) income attributable to:
Controlling interests	(28.1)	178.1
Redeemable non-controlling interests	(0.1)
Net (loss) income	(28.2)	178.1
Net (loss) income attributable to controlling interests	(28.1)	178.1
Cumulative dividends on Series A Senior Preferred Shares	(4.3)
Allocated earnings to Series A Senior Preferred Shares	(1.8)
Net (loss) income available to common stockholders	$ (34.2)	$ 178.1
(Loss) earnings per share available to common stockholders:
Basic	$ (0.28)	$ 1.61
Diluted	$ (0.28)	$ 1.60
Denominator:
Basic	120,487,251	110,647,700
Diluted	120,487,251	111,655,861
Service revenue
Revenue:
Total revenue	$ 343.6	$ 244.9
Operating expenses:
Direct expenses	76.4	39
Inventory sales revenue
Revenue:
Total revenue	168.8	149
Operating expenses:
Direct expenses	$ 151.5	$ 131.6

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Condensed Consolidated Statements of Comprehensive Income (Loss)
Net (loss) income	$ (28.2)	$ 178.1
Other comprehensive income (loss), net of income tax:
Foreign currency translation adjustment	15.1	(1.2)
Total comprehensive (loss) income	(13.1)	176.9
Total comprehensive (loss) income attributable to:
Controlling interests	(13)	176.9
Redeemable non-controlling interests	(0.1)
Total comprehensive (loss) income	$ (13.1)	$ 176.9

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 568.3	$ 494.3
Restricted cash	138.7	131.6
Trade and other receivables	793.1	186.5
Less: allowance for credit losses	(4.1)	(3.3)
Prepaid consigned vehicle charges	23
Inventory	207.3	103.1
Other current assets	82.9	48.3
Income taxes receivable	20.5	2.6
Total current assets	1,829.7	963.1
Property, plant and equipment	1,144.9	459.1
Operating lease right-of-use assets	1,369.8	123
Other non-current assets	74.7	40.4
Intangible assets	2,670.6	322.7
Goodwill	4,769.1	948.8
Deferred tax assets	9.2	6.6
Total assets	11,868	2,863.7
Liabilities, Temporary Equity and Equity
Auction proceeds payable	629.7	449
Trade and other liabilities	558.4	258.7
Current operating lease liabilities	90.1	12.7
Income taxes payable	7	41.3
Short-term debt	23.6	29.1
Current portion of long-term debt	95.7	4.4
Total current liabilities	1,404.5	795.2
Long-term operating lease liabilities	1,266.4	111.9
Long-term debt	3,124.7	577.1
Other non-current liabilities	59.3	35.4
Deferred tax liabilities	658.5	54
Total liabilities	6,513.4	1,573.6
Temporary equity:
Series A Senior Preferred Shares; no par value, shares authorized, issued and outstanding at March 31, 2023: 485,000,000 (December 31, 2022: nil)	482
Redeemable non-controlling interest	8.8
Share capital:
Common stock; no par value, unlimited shares authorized, issued and outstanding shares: 181,788,431 (December 31, 2022: 110,881,363)	3,984.5	246.3
Additional paid-in capital	88.8	85.3
Retained earnings	858.2	1,043.2
Accumulated other comprehensive loss	(70)	(85.1)
Stockholders' equity	4,861.5	1,289.6
Non-controlling interests	2.3	0.5
Total stockholders' equity	4,863.8	1,290.1
Total liabilities, temporary equity and equity	$ 11,868	$ 2,863.7

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Condensed Consolidated Balance Sheets
Temporary equity, Par value	$ 0	$ 0
Temporary equity, issued shares	485,000,000	0
Temporary equity, outstanding shares	485,000,000	0
Common stock, no par value	$ 0	$ 0
Common stock, unlimited shares authorized	Unlimited
Common stock, issued shares	181,788,431	110,881,363
Common stock, outstanding shares	181,788,431	110,881,363

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Temporary Equity and Equity - USD ($) $ in Millions	Common stock	Additional paid-In capital ("APIC")	Retained earnings	Accumulated other comprehensive loss	Non- controlling interest ("NCI")	Series A Senior Preferred Shares [Member]	Redeemable Non-controlling Interest [Member]	Total
Balance at Dec. 31, 2021	$ 227.5	$ 59.5	$ 839.6	$ (56)	$ 0.4			$ 1,071.1
Balance, shares at Dec. 31, 2021	110,618,049
Increase (Decrease) in Equity
Net (loss) income			178.1		0			178.1
Other comprehensive income (loss)				(1.2)				(1.2)
Total comprehensive (loss) income			178.1	(1.2)	0			176.9
Stock option exercises	$ 1.2	(0.2)						1
Stock option exercises, shares	24,248
Issuance of common stock related to vesting of share units	$ 2.4	(5.9)						(3.5)
Issuance of common stock related to vesting of share units, shares	92,946
Share based continuing employment costs related to business combinations		2.1						2.1
Stock option compensation expense		2.6						2.6
Equity-classified share unit expense		2.9						2.9
Equity-classified share units dividend equivalents		0.1	(0.1)
Cash dividends paid			(27.7)					(27.7)
Balance at Mar. 31, 2022	$ 231.1	61.1	989.9	(57.2)	0.4			1,225.4
Balance, shares at Mar. 31, 2022	110,735,243
Balance at Dec. 31, 2022	$ 246.3	85.3	1,043.2	(85.1)	0.5			1,290.1
Balance, shares at Dec. 31, 2022	110,881,363
Increase (Decrease) in Equity
Net (loss) income			(28.1)					(28.1)
Other comprehensive income (loss)				15.1				15.1
Total comprehensive (loss) income			(28.1)	15.1				(13)
Stock option exercises	$ 0.8	(0.1)						0.7
Stock option exercises, shares	19,277
Issuance of common stock related to vesting of share units	$ 8.9	(21.3)						(12.4)
Issuance of common stock related to vesting of share units, shares	296,905
Issuance of common stock related to business combination	$ 3,713.2							3,713.2
Issuance of common stock related to business combination, shares	70,339,723
Share based continuing employment costs related to business combinations	$ 0.3	0.5						0.8
Replacement of share-based awards in business combination		13.1						13.1
Stock option compensation expense		2.6						2.6
Equity-classified share unit expense		8.3						8.3
Equity-classified share units dividend equivalents		0.4	(0.4)
NCI acquired in a business combination					1.8			1.8
Issuance of common stock, net of issuance costs	$ 15							15
Issuance of common stock, net of issuance costs, shares	251,163
Participating dividends on Series A Senior Preferred Shares			(1.8)					(1.8)
Cumulative 5.5% dividends on Series A Senior Preferred Shares			(4.3)					(4.3)
Cash dividends paid			(150.4)					(150.4)
Balance at Mar. 31, 2023	$ 3,984.5	$ 88.8	$ 858.2	$ (70)	$ 2.3			$ 4,863.8
Balance, shares at Mar. 31, 2023	181,788,431
Balance, shares at Dec. 31, 2022								0
Increase (Decrease) in Temporary Equity
Net loss							$ (0.1)
Total comprehensive (loss) income							(0.1)
NCI acquired in business combination							8.9
Issuance of Series A Senior Preferred Shares, net of issuance costs						$ 482
Issuance of Series A Senior Preferred Shares, net of issuance costs, shares						485,000,000
Balance, shares at Mar. 31, 2023						485,000,000		485,000,000
Balance at Mar. 31, 2023						$ 482	$ 8.8

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Temporary Equity and Equity (Parentheticals)	3 Months Ended
	Mar. 31, 2023
Condensed Consolidated Statements of Changes in Temporary Equity and Equity
Cumulative dividends (as percentage)	5.50%

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net (loss) income	$ (28.2)	$ 178.1
Adjustments for items not affecting cash:
Depreciation and amortization	36.2	24.2
Share-based payments expense	12.2	7.6
Deferred income tax (benefit) expense	(2.9)	12.4
Unrealized foreign exchange loss (gain)	4.8	(0.2)
Gain on disposition of property, plant and equipment	(1.2)	(169.8)
Loss on redemption of 2016 Notes	3.3
Amortization of debt issuance costs	0.9	0.8
Amortization of right-of-use assets	5	3.5
Change in fair value of derivatives		(1.3)
Gain on remeasurement of investment upon acquisition	(1.4)
Other, net	0.8	1.1
Net changes in operating assets and liabilities	(86.8)	128.7
Net cash (used in) provided by operating activities	(57.3)	185.1
Investing activities:
Property, plant and equipment additions	(23.5)	(2)
Proceeds on disposition of property, plant and equipment	1.4	164.7
Intangible asset additions	(16.9)	(7.8)
Issuance of loans receivable	(0.9)	(1.1)
Repayment of loans receivable	0.7	1.2
Net cash (used in) provided by investing activities	(2,823)	154.9
Financing activities:
Issuance of Series A Senior Preferred Shares and common stock, net of issuance costs	496.9
Dividends paid to common stockholders	(150.4)	(27.7)
Dividends paid to Series A Senior Preferred shareholders	(4.9)
Proceeds from exercise of options and share option plans	0.7	1
Payment of withholding taxes on issuance of shares	(10)	(1.5)
Net (decrease) increase in short-term debt	(5.4)	15.4
Proceeds from long-term debt	3,175
Repayment of long-term debt	(501.1)	(162.7)
Payment of debt issue costs	(38.7)	(2.3)
Repayment of finance lease obligations	(3.6)	(2.5)
Net cash provided by (used in) financing activities	2,958.5	(180.3)
Effect of changes in foreign currency rates on cash, cash equivalents, and restricted cash	2.9	7.8
Increase	81.1	167.6
Beginning of period	625.9	1,362.5
Cash and cash equivalents, and restricted cash, end of period	707	1,530.1
IAA
Investing activities:
Acquisitions, net of cash acquired	(2,759.1)
VeriTread
Investing activities:
Acquisitions, net of cash acquired	$ (24.7)
SmartEquip
Investing activities:
Acquisitions, net of cash acquired		$ (0.1)

General Information

General Information	3 Months Ended
	Mar. 31, 2023
General Information
General Information	1. General Information Ritchie Bros. Auctioneers Incorporated and its subsidiaries (collectively referred to as the “Company”, “Ritchie Bros.”, “we”, “us”, or “our”) provide a marketplace for insights, services and transaction solutions for commercial assets and vehicles. The Company offers its customers end-to-end transaction solutions for used commercial and other durable assets through its omnichannel platform, which includes auctions, online marketplaces, listing services, and private brokerage services. The Company also offers a wide array of value-added services connected to commercial assets and vehicles as well as asset management software and data as a service solutions to help customers make more accurate and reliable business decisions. ​ On March 20, 2023, the Company acquired all the issued and outstanding shares of IAA, Inc. (“IAA”), which has been consolidated from the date of acquisition. IAA is a leading global digital marketplace connecting vehicle buyers and sellers and facilitates the marketing and sale of total loss, damaged and low-value vehicles for a full spectrum of sellers. IAA has more than 200 facilities throughout the United States, Canada and the United Kingdom. On January 3, 2023, the Company also acquired a 75% interest in VeriTread LLC (“VeriTread”), which has been consolidated from the date the Company obtained control on January 18, 2023. VeriTread is a transportation technology company in the United States that provides an online marketplace solution for open deck transport, connecting shippers and service providers. Ritchie Bros. Auctioneers Incorporated is a company incorporated in Canada under the Canada Business Corporations Act, whose shares are publicly traded on the New York Stock Exchange (“NYSE”) and the Toronto Stock Exchange (“TSX”). The Company moved its headquarters to Westchester, Illinois, United States from Burnaby, British Columbia, Canada after the close of the IAA acquisition. ​

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies (a) Basis of Preparation These unaudited condensed consolidated interim financial statements have been prepared in accordance with United States generally accepted accounting principles (“US GAAP”). They include the accounts of Ritchie Bros. Auctioneers Incorporated and its subsidiaries from their respective dates of formation, acquisition or control. All significant intercompany balances and transactions have been eliminated. Certain information and footnote disclosure required by US GAAP for complete annual financial statements have been omitted and, therefore, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2022, included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”). These unaudited condensed consolidated interim financial statements follow the same accounting policies and methods of application as our most recent annual audited consolidated financial statements except as described in Note 2(b) “New Accounting Standards and Accounting Policies”. In the opinion of management, these unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, cash flows and changes in temporary equity and equity for the interim periods presented. The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. ​ Unless otherwise indicated, all amounts in the following tables are in millions except share and per share amounts. ​ ​ 2. Significant Accounting Policies (continued) ​ (a) Basis of Preparation (continued) ​ Reclassifications ​ The following reclassifications have been made in the presentation of prior period financial statements to conform to the presentation of the current period financial statements: ​ (i) reclassification in 2022 of $23.3 million from trade and other liabilities to auction proceeds payable relating to amounts payable to consignors from our auctions and marketplaces, which are held for various reasons beyond the typical payment terms of 21 days; ​ (ii) reclassification in 2022 of $122.9 million from other non-current assets to operating lease right-of-use assets, $12.7 million from trade and other liabilities to current operating lease liabilities, and $111.9 million from other non-current liabilities to long-term operating lease liabilities; and ​ (iii) reclassification of $0.2 million foreign exchange gain for the three-month period ended March 31, 2022, from operating income to below operating income. ​ (b) New Accounting Standards and Accounting Policies ​ The Company does not believe that any recently issued, but not yet effective, accounting pronouncements, if adopted, would have a material impact on its consolidated financial statements or disclosures. ​ These unaudited condensed consolidated interim financial statements should be read in conjunction with the audited annual financial statements, including the following accounting policies which have been disclosed to reflect the significant accounting policies of the combined Company following its business combinations (Note 5) and changes in the nature of the business and its operations: ​ Prepaid Consigned Vehicle Charges ​ Prepaid consigned vehicle charges include the inbound tow, titling costs and enhancement charges associated with a consigned vehicle. These prepaid charges are recorded in cost of services at the date the vehicle is sold and revenue is recognized. ​ Redeemable Non-controlling Interest ​ Redeemable non-controlling interest is classified as temporary equity on the consolidated balance sheet, as the holder may demand cash and put the non-controlling interest to the Company. Redeemable non-controlling interest is initially ​ Redeemable Convertible Preferred Stock ​ Redeemable convertible preferred stock is classified as temporary equity on the consolidated balance sheet because it could become redeemable due to a change in control which would be outside of the Company’s control and requires a cash payment upon redemption. The redeemable convertible preferred stock is initially carried at fair value, and if Direct and incremental costs incurred in connection with the issuance of redeemable convertible stock are recorded against the proceeds received and included in its initial carrying amount. ​ On February 1, 2023, the Company sold an aggregate of 485.0 million of redeemable convertible preferred stock, convertible into common stock, designated as Series A Senior Preferred Shares (“Series A Senior Preferred Shares”). ​ ​ ​ 2. Significant Accounting Policies (continued) ​ (b) New Accounting Standards and Accounting Policies (continued) ​ Earnings Per Share ​ Basic earnings per share (“EPS”) is calculated based on the two-class method, given that the Company’s Series A Senior Preferred Shares are considered a participating security as it contractually entitles its holders to participate in the Company’s earnings. The two-class method is an earnings allocation method for computing earnings or losses per share when a Company’s capital structure includes common stock and participating securities. The two-class method determines earnings per share between holders of common stock and the Company’s participating preferred stock based on dividends declared and their respective participation rights in undistributed earnings. Net income available to common stockholders is computed as: net income attributable to controlling interests less cumulative dividends on Series A Senior Preferred Shares and allocated earnings to participating securities. Basic EPS is calculated by dividing net income available to common stockholders by the weighted average common stock outstanding. Diluted EPS is calculated similarly, except that it is computed based upon the lower of the two-class method or the if-converted method, which includes the effects of the assumed conversion of the Series A Senior Preferred Shares, and the effect of shares issuable under the Company’s stock-based incentive plans if such effect is dilutive. ​ Revenue ​ Revenues are comprised of: ● Service revenue, including the following: i. Revenue from commissions earned when the Company sells consigned assets at live and online bidding auctions or online marketplaces, and from private brokerage services where the Company acts as an agent for consignors of assets; and ii. Revenue from buyer fees earned on the purchase of consigned assets or inventory at live and online bidding auctions or online marketplaces, and from private brokerage services, which are typically based on a tiered structure that increases with the sales price of the assets; and iii. Revenue from marketplace services fees earned from auction related activities, such as document, listing and title search services, and from additional marketplaces services provided to customers, such as buyer towing, refurbishment, logistical and electronic title and liens processing, financing, appraisals, subscriptions for data, parts and software services, and other ancillary and transactional service fees. ​ ● Inventory sales revenue which consists of revenue relating to assets that are purchased by the Company and then resold through either our live and online bidding auctions, online marketplaces, or our private brokerage services. ​ The Company recognizes revenue when control of the promised goods or services is transferred to our customers, or upon completion of the performance obligation, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. A performance obligation is a promise in a contract to transfer a distinct good or service, or a series of distinct goods or services, to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The transaction price is reduced by estimates of variable consideration such as volume rebates and discounts. All estimates, which are evaluated at each reporting period, are based on the Company’s historical experience, anticipated volumes, and best judgment. For auctions, revenue is recognized when the auction sale is complete, and the performance obligation is satisfied at the end of the auction process. Revenue is measured at the fair value of the consideration received or receivable and is shown net of value-added tax and duties. ​ ​ 2. Significant Accounting Policies (continued) ​ (b) New Accounting Standards and Accounting Policies (continued) ​ Revenue (continued) ​ The Company offers consignors several contract options: ● Straight commission contracts, where the consignor receives the gross proceeds from the sale less a pre-negotiated commission rate; ● Fixed fee commission contracts, where the consignor receives the gross proceeds from the sale less a fixed flat fee; ● Guarantee contracts, where the consignor receives a guaranteed minimum amount plus an additional amount if proceeds exceed a specified level; and ● Inventory contracts, where we purchase, take custody, and hold used equipment and other assets before they are resold in the ordinary course of business. ​ Service Revenue The Company’s commissions are earned as a pre-negotiated fixed percentage rate of the gross selling price or as a fixed fee. Commissions are calculated as a percentage of the winning bid price of the property sold at auction or are fixed in value. Fixed fees are earned in auction contracts for sellers relating to the sale of vehicles and includes the remarketing of vehicles, including the inbound tow, processing, storage, titling, enhancing and sale at auction. Related costs are deferred and recognized at the time of sale. Other commissions from sales at the Company’s auctions are earned from underwritten commission contracts when the Company typically guarantees a certain level of proceeds to a consignor. The Company accepts assets on consignment and stimulates buyer interest through professional marketing techniques by matching sellers (also known as consignors) to buyers through the auction or private sale process. Prior to offering an item for sale on its online marketplaces, the Company also performs inspections. Buyer fees are calculated based on a tiered structure that increases with the sales price of the item sold. Marketplace services fees earned in the process of conducting the Company’s auctions include administrative, documentation, and advertising fees as well as fees charged to sellers for listing and inspecting equipment. The Company also offers other services to customers such as transportation and logistics, storage, vehicle condition reporting, parts, data, inspections, appraisals, financing, and other ancillary services such as refurbishment, repairs, paint, make ready, towing, listings, and title and liens processing. Marketplace services fees also includes fixed registration fees from buyers of vehicles to access the auctions for a one With the final acceptance of the winning bid, the highest bidder becomes legally obligated to pay the full purchase price, which is the winning bid of the property purchased and the seller is legally obligated to relinquish the property in exchange for the winning bid less any seller’s commissions. Commission and fee revenue are recognized on the date of the auction sale upon the final acceptance of the winning bid. Registration fees to access certain vehicle auctions for a one Under the standard terms and conditions of its auction sales, except for contracts for the sale of vehicles, the Company is not obligated to pay a consignor for property that has not been paid for by the buyer, provided the property has not been released to the buyer. Under the standard terms and conditions of its vehicle auction sales, the Company in certain arrangements may have to pay a consignor for property that has not been paid for by the buyer. If the buyer defaults on its payment obligation, also referred to as a collapsed sale, the sale is cancelled in the period in which the determination is made, and the property is returned to the consignor or placed in a later event-based or online auction. The Company recognizes a provision for expected collapsed or cancelled sales, which is the Company’s best estimate of the service revenues relating to transactions which may not complete and where the buyer may default on its obligation. The Company determines the provision based on historical collapse experience, customer data and reasonable and supportable forecasts of the outcome of such transactions. ​ 2. Significant Accounting Policies (continued) ​ (b) New Accounting Standards and Accounting Policies (continued) ​ Service Revenue (continued) ​ Commission revenue is recorded net of commissions owed to third parties, which are principally the result of situations when the commission is shared with a consignor in an auction guarantee risk and reward sharing arrangement. Underwritten commission contracts can take the form of guarantee contracts. Guarantee contracts typically include a pre-negotiated percentage of the guaranteed gross proceeds plus a percentage of proceeds in excess of the guaranteed amount. If actual auction proceeds are less than the guaranteed amount, commission is reduced; if proceeds are sufficiently lower, the Company can incur a loss on the sale. Losses, if any, resulting from guarantee contracts are recorded in the period in which the relevant auction is completed. If a loss relating to a guarantee contract held at the period end to be sold after the period end is known or is probable and estimable at the financial statement reporting date, the loss is accrued in the financial statements for that period. The Company’s exposure from these guarantee contracts fluctuates over time. Marketplace services fees are recognized in the period in which the service is provided or the product is delivered to the customer. Inventory Sales Revenue Underwritten commission contracts can take the form of inventory contracts. Revenue related to inventory contracts is recognized in the period in which the sale is completed, title to the property passes to the buyer and the Company has fulfilled any other obligations that may be relevant to the transaction. In its role as auctioneer, the Company auctions its inventory to buyers through the auction process. Following the sale of the item, the Company invoices the buyer for the purchase price of the asset, taxes, and, if applicable, the buyer transaction fee, and collects payment from the buyer. With the final acceptance of the winning bid, the highest bidder becomes legally obligated to pay the full purchase price, which is the winning bid of the property purchased. Title to the property is transferred in exchange for the winning bid price, and if applicable, the buyer transaction fee plus applicable taxes. In a private treaty transaction where inventory is sold in a private process or inventory contracts are sold on our online marketplaces, commission and fee revenue is recognized on the date the buyer has obtained control of the asset. ​ ​ 2. Significant Accounting Policies (continued) ​ (b) New Accounting Standards and Accounting Policies (continued) ​ Costs of Services ​ Costs of services incurred in earning revenue are comprised of expenses incurred in direct relation to conducting auctions (“direct expenses”), earning online marketplace revenue, and earning marketplace services fee revenue. Direct expenses include direct labor, buildings and facilities charges, subcontract services such as towing, service contract claims, and travel, advertising and promotion costs and fees paid to unrelated third parties who introduce the Company to equipment sellers who sell property at the Company's auctions and marketplaces. Direct expenses at auction yards which conduct regular weekly events include cost of full-time employees, part time labour, lease expense and maintenance. Costs of services to operate our online marketplace revenue excludes hosting costs where we leverage a shared infrastructure that supports both our internal technology requirements and external sales to our customers. ​ Costs of services incurred to earn online marketplace revenue in addition to the costs listed above also include inspection costs. Costs of earning online marketplace revenue also include costs for the Company’s customer support, online marketplace operations, logistics, and title and lien investigation functions. Costs of services incurred in earning marketplace services revenue include ancillary and logistical service expenses, direct labor (including commissions on sales), cloud infrastructure and hosting costs, software maintenance fees, and materials. Costs of services exclude depreciation and amortization expenses. ​ Cost of Inventory Sold ​ Cost of inventory sold includes the purchase price of assets sold for the Company’s own account and is determined using a specific identification basis. Inventories are stated at the lower of cost or estimated realizable value. Cost includes the Company’s cost of acquiring ownership of the vehicle. ​ Trade and Other Receivables ​ Trade receivables principally include amounts due from customers as a result of live onsite and online auctions and online marketplace transactions and services. The recorded amount reflects the purchase price of the item sold, including the Company’s commission. The amounts due with respect to any consigned sales are generally deducted from the sales proceeds upon the eventual auction or other disposition of the asset. For vehicle sales, advance charges paid on a seller’s behalf are also included in trade receivables. ​ The allowance for credit losses is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. The Company determines the allowance based on historical write-off experience, customer economic data and reasonable and supportable forecasts of future economic conditions. The Company regularly reviews the allowance for credit losses and past due balances for collectability. Account balances are charged against the allowance when the Company believes that the receivable will not be recovered. Self-insurance Reserves ​ The Company self-insures a portion of employee medical benefits, as well as a portion of its automobile, general liability and workers’ compensation claims. The Company has insurance coverage that limits the exposure on individual claims. The cost of the insurance is expensed over the contract periods. Utilizing historical claims experience, the Company records an accrual for the claims related to its employee medical benefits, automobile, general liability and workers’ compensation claims based upon the expected amount of all such claims, which includes the cost of claims that have been incurred but not reported.

Significant Judgments, Estimate

Significant Judgments, Estimates and Assumptions	3 Months Ended
	Mar. 31, 2023
Significant Judgments, Estimates and Assumptions
Significant Judgments, Estimates and Assumptions	3. Significant Judgments, Estimates and Assumptions The preparation of financial statements in conformity with US GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Future differences arising between actual results and the judgments, estimates and assumptions made by the Company at the reporting date, or future changes to estimates and assumptions, could necessitate adjustments to the underlying reported amounts of assets, liabilities, revenues and expenses in future reporting periods. Judgments, estimates and underlying assumptions are evaluated on an ongoing basis by management and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, existing circumstances and assumptions about future developments may change due to market changes or circumstances and such changes are reflected in the assumptions when they occur. Significant items subject to estimates and judgments during the three months ended March 31, 2023 related to the preliminary purchase price allocations for the acquisitions of IAA and VeriTread and the valuation of the redeemable non-controlling interest recognized in connection with the acquisition of VeriTread. Given the date of the acquisition in relation to the reporting date, the fair value estimates of assets acquired and liabilities assumed is pending the completion of various items, including obtaining further information regarding the identification and valuation of all assets acquired and liabilities assumed. Accounting for business combinations requires estimates with respect to the fair value of the assets acquired and liabilities assumed. Such estimates of fair value require valuation methods which rely on significant estimates and assumptions. In connection with the acquisitions of IAA and VeriTread, the valuation of intangible assets required significant estimates and assumptions and included estimates regarding future cash flows, growth rates, attrition rates, royalty rates, obsolescence rates, discount rates, terminal value and forecasted period assumptions, as applicable. The Company based these estimates on historical and anticipated results, industry trends, economic analysis, and various other assumptions that it believes are reasonable, including assumptions as to the occurrence of future events. In addition, in connection with the acquisition of IAA, the valuation of property, plant, and equipment required significant estimates and assumptions, including estimates regarding market value. Preliminary estimates were based on valuation market, income and cost approaches, as applicable. In connection with the acquisition of VeriTread, management applied judgement and assessed that it is probable that the redeemable non-controlling interest will be redeemed at a future date. At the end of each reporting period, if redemption of the redeemable non-controlling interest continues to be probable, then the carrying value of the redeemable non-controlling interest is adjusted to its estimated redemption value as one of the allowable methods under the applicable accounting standards. The valuation of the redemption value at acquisition, and at each reporting period, requires management to assess whether VeriTread and the Company will be able to successfully achieve certain integration milestones and performance targets over a three-year period. The valuation of the estimated redemption value also includes estimates such as future cash flows, growth rates and discount rates, among others. ​

Seasonality

Seasonality	3 Months Ended
	Mar. 31, 2023
Seasonality
Seasonality	4. Seasonality The Company’s operations are both seasonal and event driven and can fluctuate from quarter to quarter. The volume of assets sold through our auctions and marketplaces is driven by the supply of assets available for sale as well as changes in severe weather conditions. During the third quarter, supply of assets is generally low as commercial and transportation equipment is actively being used and mild weather conditions and decreases in traffic volume can contribute to a decline in available supply of vehicles. ​

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2023
Business Combinations
Business Combinations	5. Business Combinations ​ (a) IAA Acquisition On March 20, 2023, the Company completed its acquisition of IAA for a total purchase price of $6.6 billion. The Company acquired IAA to create a leading omnichannel marketplace for vehicle buyers and sellers. ​ On November 7, 2022, the Company had entered into an Agreement and Plan of Merger and Reorganization, which was subsequently amended on January 22, 2023 (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, IAA stockholders received $12.80 per share in cash and 0.5252 shares of the Company for each share of IAA common stock they owned (the “Exchange Ratio”). As such, the Company paid $1.7 billion in cash consideration and issued 70.3 million shares of its common stock. In addition, the Company repaid $1.2 billion of IAA’s net debt, which included all outstanding borrowings and unpaid fees under IAA’s credit agreement and $500.0 million principal amount of IAA senior notes, at a redemption price equal to 102.75% of the principal amount plus accrued and unpaid interest. ​ IAA’s outstanding equity awards were also cancelled and exchanged into equivalent outstanding equity awards relating to the Company’s common stock, based on the equity award exchange ratio of 0.763139. The purchase price was determined as follows: ​ ​ ​ ​ ​ Cash consideration ​ $ 1,714.2 Fair value of common shares issued ​ ​ 3,713.0 Fair value of exchanged IAA equity awards attributable to pre-combination service ​ ​ 13.1 Reimbursement of sell-side acquisition costs ​ ​ 48.8 Repayment of IAA net debt ​ ​ 1,157.1 Total fair value of consideration transferred ​ $ 6,646.2 ​ The acquisition was accounted for in accordance with ASC 805, Business Combinations ​ ​ 5. Business Combinations (continued) ​ (a) IAA Acquisition (continued) ​ IAA Preliminary Purchase Price Allocation ​ ​ ​ ​ ​ ​ ​ ​ Purchase price ​ $ 6,646.2 ​ ​ ​ ​ Assets acquired: ​ ​ Cash and cash equivalents ​ ​ 161.0 Trade and other receivables ​ 498.7 Prepaid consigned vehicle charges ​ ​ 8.7 Inventory ​ ​ 57.6 Other current assets ​ ​ 31.1 Property, plant and equipment ​ 655.7 Operating lease right-of-use assets ​ ​ 1,252.5 Other non-current assets ​ 34.8 Intangible assets ​ 2,340.0 ​ ​ ​ Liabilities assumed: ​ ​ Auction proceeds payable ​ ​ 60.7 Trade and other liabilities ​ 250.4 Current operating lease liability ​ ​ 78.0 Long-term operating lease liability ​ ​ 1,166.0 Other non-current liabilities ​ ​ 23.4 Deferred tax liabilities ​ 604.2 ​ ​ ​ ​ Fair value of identifiable net assets acquired ​ 2,857.4 Goodwill acquired on acquisition ​ $ 3,788.8 ​ The following table summarizes the preliminary fair values of the identifiable intangible assets acquired: ​ ​ ​ ​ ​ ​ ​ ​ ​ Preliminary fair value ​ Weighted average Asset ​ at acquisition ​ amortization period Customer relationships ​ $ 2,030.0 ​ 9 years Developed technology ​ ​ 150.0 ​ 6 years Trade names and trademarks ​ ​ 160.0 ​ 6 years Total ​ $ 2,340.0 ​ 8.6 years ​ The purchase price has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. Given the date of the acquisition in relation to the reporting date, the fair value estimates of assets acquired and liabilities assumed is pending the completion of various items, including obtaining further information regarding the identification and valuation of all assets acquired and liabilities assumed. ​ Certain of the more significant balances that are not yet finalized include the valuation of property, plant and equipment, intangible assets (including goodwill), operating lease right-of-use assets and related lease liabilities, and related income tax considerations. Accordingly, management considers the balances above to be preliminary, and there could be adjustments to the consolidated financial statements in subsequent periods, including changes to depreciation and amortization expense related to the property, plant, and equipment and intangible assets acquired and their respective useful lives, among other adjustments. In addition, management has not completed the allocation of goodwill acquired to its reporting units. ​ The final determination of the fair values of the assets acquired and liabilities assumed will be completed within the measurement period of up to one year from the acquisition date. ​ ​ 5. Business Combinations (continued) ​ (a) IAA Acquisition (continued) ​ Goodwill ​ Goodwill recognized includes synergies expected to be achieved from the operations of the combined company, the assembled workforce of IAA and intangible assets that do not qualify for separate recognition. Expected synergies include both increased revenue opportunities and the cost savings from the planned integration of platform infrastructure, facilities, personnel, and systems. The transaction is considered a non-taxable business combination and the goodwill is not deductible for tax purposes. ​ Contributed Revenue and Net Income ​ The results of IAA’s operations are included in these consolidated financial statements from the date of acquisition. From the date of acquisition, the amount of IAA revenue and net income included in the consolidated income statement for the period from March 20, 2023 to March 31, 2023 was $80.0 and $2.9 million, respectively. ​ The following table includes unaudited pro forma financial information that presents the combined results of operations as if the IAA acquisition, the acquisition debt financing, and certain other related transactions had occurred on January 1, 2022, the beginning of the comparable annual period. ​ The unaudited pro forma information includes adjustments to amortization for intangible assets acquired, adjustments to interest expense for the additional indebtedness incurred to complete the acquisition, and transaction costs. The unaudited pro forma financial information for the three months ended March 31, 2022 also includes one-time acquisition-related expenses of $201.2 million, of which $50.5 million were IAA pre-acquisition transaction costs. The pro forma results do not include any anticipated synergies or other expected benefits of the acquisition. ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Three months ended ​ March 31, 2023 March 31, 2022 Revenue ​ ​ 988.0 ​ ​ 950.7 Net income ​ ​ 91.4 ​ ​ 6.4 ​ The unaudited pro forma information presented is for informational purposes only and is not necessarily indicative of our consolidated results of operations of the combined business had the acquisition actually occurred on January 1, 2022, nor of the results of our future operations of the combined business. The pro forma results are based on the preliminary purchase price allocation and will be updated to reflect the final amounts as the allocation is finalized during the measurement period. ​ 5. Business Combinations (continued) ​ (b) VeriTread Acquisition ​ On January 3, 2023, the Company acquired 8,889,766 units of VeriTread, for $25.2 million cash consideration from its existing unitholders and acquired another 1,056,338 units through an investment of $3.0 million cash. As a result, the Company increased its investment in VeriTread to 75% and obtained control of VeriTread pursuant to an amended operating agreement on January 18, 2023 . Immediately prior to the acquisition, the Company owned 11% of VeriTread, with an acquisition date fair value of $4.3 million based on the per unit purchase price, and therefore, upon remeasurements of its previously held interest, the Company recorded a gain of $1.4 million in other income, net at acquisition. VeriTread is a transportation technology company that provides an online marketplace solution for open deck transport, connecting shippers and service providers. ​ Concurrently, the Company entered into a put/call agreement with one of the minority unitholders of VeriTread for its remaining units, another 21% ownership interest. Pursuant to this agreement, the minority unitholder has rights, in certain circumstances, to put or sell its remaining units of VeriTread to the Company, subject to VeriTread achieving certain performance targets at a pre-determined value or fair value, depending on the timing and targets achieved. The Company also has the right to call or purchase the remaining units of the minority unitholder upon achievement of certain integration milestones at fair value. The non-controlling interest is classified in temporary equity on the consolidated balance sheet, as the minority unitholder of VeriTread can put the remaining units to the Company for cash upon the achievement of certain performance targets, which is not within the control of the Company and is considered probable. An additional non-controlling interest of 4% held in VeriTread is classified within equity as that interest does not contain put/call options. ​ The acquisition was accounted for in accordance with ASC 805, Business Combinations ​ VeriTread Preliminary Purchase Price Allocation ​ ​ ​ ​ ​ Total cash consideration paid ​ $ 28.1 Fair value of previously held interest ​ ​ 4.3 Purchase price ​ $ 32.4 ​ ​ Assets acquired: ​ Cash and cash equivalents ​ ​ 3.4 Trade and other receivables, and other current assets ​ 0.9 Intangible assets ​ 14.7 ​ ​ Liabilities assumed: ​ Trade and other liabilities ​ 1.1 ​ ​ ​ ​ Fair value of identifiable net assets acquired ​ 17.9 ​ ​ ​ ​ Redeemable non-controlling interest ​ ​ (8.9) Non-controlling interest ​ ​ (1.8) ​ ​ ​ ​ Goodwill acquired on acquisition ​ $ 25.2 ​ The following table summarizes the preliminary fair values of the identifiable intangible assets acquired: ​ ​ ​ ​ ​ ​ ​ ​ ​ Preliminary fair value ​ Weighted average Asset ​ at acquisition ​ amortization period Customer relationships ​ $ 7.2 ​ 5 years Software and technology assets ​ ​ 7.1 ​ 7 years Trade names and trademarks ​ ​ 0.4 ​ 2 years Total ​ $ 14.7 ​ 5.9 years ​ ​ 5. Business Combinations (continued) ​ (b) VeriTread Acquisition (continued) ​ The amounts included in VeriTread’s preliminary purchase price allocation are preliminary in nature and are subject to adjustment as additional information is obtained about the facts and circumstances that existed at the date of the acquisition. The final determination of the fair values of certain assets and liabilities will be completed within the measurement period of up to one year from the acquisition date. The purchase price will be finalized upon the determination of closing working capital and valuation of the intangible assets acquired. Adjustments to the preliminary values during the measurement period may impact the amounts recorded as assets and liabilities with a corresponding adjustment to goodwill and will be recognized in the period in which the adjustments are determined. ​ The results of VeriTread’s operations are included in these consolidated financial statements from the date of acquisition. Pro forma results have not been presented as such financial information would not be significantly different from historical results. ​ Goodwill ​ Goodwill relates to benefits expected from the acquisition of VeriTread’s business, its assembled workforce and associated technical expertise, as well as anticipated synergies from applying VeriTread’s transportation platform, network of transport carriers, equipment database and services to the Company’s customer base. This acquisition is expected to accelerate the Company’s marketplace strategy, which brings services, insights, and transaction solutions together to improve the overall customer experience. The transaction is considered a non-taxable business combination and the goodwill is not deductible for tax purposes. ​ (c) Terminated Euro Auctions Acquisition On August 9, 2021, the Company entered into a Sale and Purchase Agreement (“SPA”) pursuant to which it agreed to purchase Euro Auctions Limited, William Keys & Sons Holdings Limited, Equipment & Plant Services Ltd, and Equipment Sales Ltd. (collectively, “Euro Auctions”), each being a private limited company incorporated in Northern Ireland (the “Euro Auctions Acquisition”). Under the terms of the SPA, the Company was to acquire all of the outstanding shares of Euro Auctions from their existing shareholders for approximately £775.0 million (approximately $1.02 billion) cash consideration, to be paid on closing. On April 29, 2022, the Company made a decision to discontinue the Phase 2 review by the United Kingdom’s Competition and Markets Authority (“CMA”). The SPA automatically terminated on June 28, 2022. In addition, in April 2022, the Company terminated, without cost, its deal contingent forward currency contracts and on May 4, 2022, redeemed all of the 2021 Notes (Note 18) at a redemption price equal to 100% of the original offering price of the notes, plus accrued and unpaid interest.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
Segment Information
Segment Information	6. Segment Information The Company’s principal business activity is the management and disposition of used industrial equipment, vehicles and other durable assets. Effective as of the first quarter of 2023, the Company’s operations are comprised of one reportable segment following the acquisition of IAA on March 20, 2023. During the first quarter of 2023, senior management of the Company reassessed the organizational reporting structure of the Company and how to manage the combined business. As a result, the Company now operates in one operating and reportable segment to reflect the way the Chief Operating Decision Maker (“CODM”) reviews and assesses performance of the business and allocates resources. The long-term strategy for the Company is to sell Gross Transaction Value (“GTV”) while offering integrated marketplace services. The CODM does not evaluate the performance of the Company or assess allocation of resources at any level below the consolidated level or based on assets and liabilities. ​ 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 March 31, 2023 $ 360.1 $ 68.3 $ 19.1 $ 50.7 $ 14.2 $ 512.4 March 31, 2022 ​ ​ 248.0 ​ 65.2 ​ ​ 29.1 ​ 37.8 ​ 13.8 ​ 393.9 ​

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue.
Revenue	7. Revenue The Company’s revenue from the rendering of services and the sale of inventory is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, ​ 2023 ​ 2022 Commissions ​ $ 130.6 ​ $ 116.4 Buyer fees ​ 140.7 ​ 75.6 Marketplace services revenue ​ ​ 72.3 ​ ​ 52.9 Total service revenue ​ ​ 343.6 ​ ​ 244.9 ​ ​ ​ ​ ​ ​ Inventory sales revenue ​ 168.8 ​ 149.0 Total revenue ​ $ 512.4 ​ $ 393.9 ​ ​ ​ Commissions are earned from consignors on the sale of consigned assets at auctions and online marketplaces, and private brokerage services. Buyer fees are fees earned from the purchase of consigned assets or from the sale of inventory at auctions and online marketplaces, and from private brokerage services. Marketplace services revenue includes fees earned from services provided to customers in marketplaces such as refurbishing, parts, data, transportation and logistics, inspection, appraisal, listings, financing and title and liens processing, as well as other auction-related fees.

Operating Expenses

Operating Expenses	3 Months Ended
	Mar. 31, 2023
Operating Expenses
Operating Expenses	8. Operating Expenses ​ Acquisition-related and Integration Costs ​ Acquisition-related and integration costs consist of operating expenses incurred in connection with business combinations, such as due diligence, advisory, legal, integration, severance, acceleration of share-based payments expense and share-based continuing employment costs. ​ The following is a summary of our acquisition-related and integration costs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2022 IAA ​ ​ ​ ​ ​ ​ Financing ​ $ 30.0 ​ $ — Severance ​ ​ 14.0 ​ ​ — Integration ​ ​ 5.1 ​ ​ — Acceleration of share-based payments expense ​ ​ 5.0 ​ ​ — Legal ​ ​ 9.5 ​ ​ — Investment banking, consulting and other acquisition-related costs ​ ​ 61.6 ​ ​ — ​ ​ ​ 125.2 ​ ​ — ​ ​ ​ ​ ​ ​ ​ SmartEquip ​ ​ 0.3 ​ ​ 1.2 Euro Auctions ​ ​ — ​ ​ 6.6 Rouse ​ ​ 0.5 ​ ​ 1.8 VeriTread ​ ​ 0.2 ​ ​ — Total acquisition-related and integration costs ​ $ 126.2 ​ $ 9.6 ​ Depreciation and Amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2022 Depreciation ​ $ 11.5 ​ $ 7.7 Amortization ​ 24.7 ​ 16.5 ​ ​ $ 36.2 ​ $ 24.2 ​

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Taxes
Income Taxes	9. Income Taxes ​ At the end of each interim period, the Company estimates the effective tax rate expected to be applicable for the full fiscal year. The estimate reflects, among other items, management’s best estimate of operating results. It does not include the estimated impact of foreign exchange rates or unusual and/or infrequent items, which may cause significant variations in the customary relationship between income tax expense and income before income taxes. ​ For the three months ended March 31, 2023, income tax benefit was $9.3 million compared to an income tax expense of $36.2 million for the same period in 2022. The effective tax rate was 25% in the first quarter of 2023, compared to 17% in the first quarter of 2022. A higher tax rate was observed in the first quarter of 2023 compared to the first quarter of 2022 primarily due to a higher tax deduction for PSU and RSU share unit expenses that exceeded the related compensation expense, a benefit on the revaluation of opening deferred liabilities and a benefit related to Foreign-Derived Intangible Income that increased our income tax benefit. Partially offsetting these increases were a higher estimate of non-deductible expenses and the non-recurrence of the non-taxable gain portion on the sale of a parcel of land including all buildings in Bolton, Ontario in 2022. ​ The Canada Revenue Agency (“CRA”) has been conducting audits of the Company’s 2014, 2015, 2017, 2018 and 2019 taxation years. If the CRA challenges the manner in which the Company has filed its tax returns and reported its income with respect to any of the audits, the Company will have the option to appeal any such decision. While the Company believes it is, and has been, in full compliance with Canadian tax laws and expects to vigorously contest any proposed assessments or any notice of assessments or reassessments received from the CRA, the Company is unable to predict the ultimate outcome of these audits and the final disposition of any appeals pertaining to such audits. If the CRA makes an adverse determination and the Company is unsuccessful in appealing such determination reflected in any assessment or reassessment, then the Company could incur additional income taxes, penalties, and interest, which could have a material negative effect on its operations. ​ On February 13, 2023, the CRA issued a proposal letter to Ritchie Bros. Auctioneers (International) Ltd. asserting that one of its Luxembourg subsidiaries was resident in Canada from 2010 through 2015 and that its worldwide income should be subject to Canadian income taxation. The Luxembourg subsidiary was in operation from 2010 until 2020. In the event that the CRA issues a notice of assessment or reassessment, the Company expects to vigorously contest such notice as the Company disagrees with the assertion regarding Canadian residency. In the event that a court of competent jurisdiction makes a final determination that the income of the Luxembourg subsidiary for 2010 through 2015 was subject to Canadian income tax laws, the Company may ultimately be liable for additional total Canadian federal and provincial income tax of approximately $26.0 million - $30.0 million, exclusive of interest and penalties, for the period specified in the proposal letter. The CRA may also challenge the manner in which the Company has filed its tax returns and reported its income with respect to 2016 to 2020 taxation years and may assert that the income of the Luxembourg subsidiary was subject to Canadian income tax because the Luxembourg subsidiary was also resident in Canada during these years. The Company could then incur additional income taxes, penalties and interest which could have a material negative effect on its operations. ​ The Company is expected to initially reply to the CRA’s proposal letter by June 13, 2023; however, the discussions with CRA could take numerous years to be ultimately resolved. ​

Earnings Per Share Attributable

Earnings Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2023
Earnings Per Share Attributable to Common Stockholders
Earnings Per Share Attributable to Common Stockholders	10. Earnings Per Share Attributable to Common Stockholders Basic EPS attributable to common stockholders has been calculated by dividing the net income available to common stockholders by the weighted average (“WA”) number of common shares outstanding during the period. Diluted EPS attributable to common stockholders was calculated by dividing the net income available to common stockholders by the WA number of shares of common stock outstanding, if the potentially dilutive securities had been issued. ​ Potentially dilutive securities include unvested Performance Share Units (“PSUs”), unvested Restricted Share Units (“RSUs”), and outstanding stock options. The dilutive effect of potentially dilutive securities is reflected in diluted EPS by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. ​ The WA shares outstanding used to calculate basic and diluted EPS attributable to common stockholders were not adjusted for the potential common shares to be issued to settle the cumulative dividend payments and allocated earnings attributable to the Series A Senior Preferred Shares as such amounts are expected to be cash settled at the Company’s election. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2023 2022 Net (loss) income available to common stockholders ​ $ (34.2) ​ $ 178.1 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic weighted average share outstanding ​ ​ 120,487,251 ​ ​ 110,647,700 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Share units ​ ​ — ​ ​ 450,259 Stock options ​ ​ — ​ ​ 557,902 Diluted average shares outstanding ​ ​ 120,487,251 ​ ​ 111,655,861 ​ ​ ​ ​ ​ ​ ​ Net (loss) income per share attributable to common shares: ​ ​ ​ ​ ​ ​ Basic ​ $ (0.28) ​ $ 1.61 Diluted ​ $ (0.28) ​ $ 1.60 ​ ​ The following effect of dilutive securities is presented based on the amounts outstanding at period end, which were excluded from the computation of diluted net (loss) per share for the three months ended March 31, 2023 because the impact of including them would have been anti-dilutive. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2023 ​ ​ 2022 Share units ​ ​ 631,409 ​ ​ — Stock options ​ ​ 541,082 ​ ​ — Preferred stock (as converted to common stock) ​ ​ 6,775,252 ​ ​ — Total ​ ​ 7,947,743 ​ ​ — ​

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Information
Supplemental Cash Flow Information	11. Supplemental Cash Flow Information ​ Net Changes in Operating Assets and Liabilities ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 ​ 2022 Trade and other receivables $ (104.3) $ (142.3) Prepaid consigned vehicle charges ​ ​ (14.2) ​ ​ — Inventory ​ ​ (46.4) ​ ​ 23.2 Advances against auction contracts ​ ​ 1.0 ​ ​ (5.0) Prepaid expenses and deposits ​ ​ (6.3) ​ ​ 12.2 Income taxes receivable ​ ​ (16.0) ​ ​ 0.4 Auction proceeds payable ​ ​ 118.2 ​ ​ 242.2 Trade and other liabilities ​ ​ 38.9 ​ ​ (19.2) Income taxes payable ​ ​ (40.8) ​ ​ 19.5 Operating lease obligations ​ ​ (10.9) ​ ​ (2.7) Other ​ ​ (6.0) ​ ​ 0.4 Net changes in operating assets and liabilities $ (86.8) $ 128.7 ​ Interest and Tax Payments ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 ​ 2022 Interest paid, net of interest capitalized $ 20.4 $ 19.2 Interest received ​ ​ 6.3 ​ ​ 0.5 Net income taxes paid ​ ​ 50.9 ​ ​ 4.1 ​ ​ ​ ​ ​ ​ ​ Non-cash purchase of property, plant and equipment under finance lease ​ 4.9 ​ 2.5 Non-cash operating right of use assets obtained in exchange for new lease obligations ​ 1.4 ​ 4.7 ​ ​ ​ ​ ​ ​ ​ ​ ​

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2023
Fair Value Measurement
Fair Value Measurement	12. Fair Value Measurement All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement or disclosure: ● Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that the entity can access at measurement date; ● Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and ● Level 3: Unobservable inputs for the asset or liability. ​ 12. Fair Value Measurement (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ December 31, 2022 ​ ​ ​ ​ Carrying ​ ​ ​ ​ Carrying ​ ​ ​ ​ Category amount Fair value amount Fair value Fair values disclosed: ​ ​ ​ ​ Loans receivable ​ Level 2 ​ $ 23.4 ​ $ 23.3 ​ $ 23.4 ​ $ 23.3 Derivative financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward currency contracts ​ Level 2 ​ ​ 0.2 ​ ​ 0.2 ​ ​ 0.2 ​ ​ 0.2 Long-term debt ​ ​ ​ ​ ​ ​ ​ ​ Senior secured and unsecured notes ​ ​ ​ ​ ​ ​ ​ 2016 Notes ​ Level 1 ​ ​ — ​ ​ — ​ ​ 496.3 ​ ​ 491.9 2023 Secured Notes ​ Level 1 ​ ​ 542.3 ​ ​ 565.1 ​ ​ — ​ ​ — 2023 Unsecured Notes ​ Level 1 ​ ​ 788.8 ​ ​ 835.5 ​ ​ — ​ ​ — Term loans ​ Level 2 ​ ​ 1,889.3 ​ ​ 1,909.8 ​ ​ 85.2 ​ ​ 85.5 ​ ​ The fair value of the loan receivables with a maturity date greater than one year are determined by estimating discounted cash flows using market rates. The carrying values of the term loans, before deduction of deferred debt issuance costs, approximate their fair values as the interest rates on the loans is short-term in nature. The fair values of the senior secured and unsecured notes are determined by reference to a quoted market price traded in an over-the-counter broker market. ​ The Company holds derivative financial assets and liabilities that are required to be measured at fair value on a recurring basis. The fair values of the forward currency contracts are determined using observable Level 2 inputs, including foreign currency spot exchange rates and forward pricing curves. The fair value considers the credit risk of the Company and its counterparties.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2023
Derivative Financial Instruments
Derivative Financial Instruments	13. Derivative Financial Instruments ​ The Company’s derivative financial instruments are accounted for as derivatives under ASC 815, Derivatives and Hedging ​ The Company enters into forward currency contracts from time to time to manage its exposure to foreign currency exchange rate fluctuations recognized by its subsidiaries on specific monetary loan receivables. During the first quarter of 2023, a loss of $0.2 million (March 31, 2022: $0.6 million) was recognized for the change in fair values of the forward currency contracts within foreign exchange loss (gain) in the consolidated income statement. ​

Trade and Other Receivables

Trade and Other Receivables	3 Months Ended
	Mar. 31, 2023
Trade and Other Receivables
Trade and Other Receivables	14. Trade and Other Receivables ​ The Company generally has possession of assets or asset titles collateralizing a significant portion of trade receivables. ​ The following table presents the activity in the allowance for expected credit losses for the period ended March 31, 2023: ​ ​ ​ ​ ​ Balance at December 31, 2022 $ 3.3 Current period provision ​ 1.5 Write-offs charged against the allowance ​ (0.7) Balance at March 31, 2023 ​ $ 4.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Advanced charges receivable ​ $ 361.6 ​ $ — Trade account receivable ​ ​ 397.4 ​ ​ 143.8 Consumption taxes receivable ​ 22.1 ​ ​ 31.2 Other receivables ​ ​ 12.0 ​ ​ 11.5 Trade and other receivables, gross ​ ​ 793.1 ​ ​ 186.5 Less: allowance for credit losses ​ (4.1) ​ (3.3) Trade and other receivables, net ​ $ 789.0 ​ $ 183.2 ​

Other Current Assets

Other Current Assets	3 Months Ended
	Mar. 31, 2023
Other Current Assets
Other Current Assets	15. Other Current Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Advances against auction contracts ​ $ 8.0 ​ $ 8.9 Assets held for sale ​ — ​ 0.3 Prepaid expenses and deposits ​ 74.7 ​ 38.9 Derivative financial asset ​ ​ 0.2 ​ ​ 0.2 ​ ​ $ 82.9 ​ $ 48.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ On March 17, 2022, the Company completed the sale and leaseback of a parcel of land including all buildings, in Bolton, Ontario, for a total sale consideration of $208.2 million Canadian dollars (approximately $165.0 million) net of closing and transaction costs, and recognized a gain on disposition of property, plant and equipment of $169.1 million as a component of gain on disposition of property, plant and equipment. The net book value of the Bolton property was $7.1 million. The payments for the lease were not considered to be at market rates given an initial two-year rent-free period and, accordingly, the Company adjusted the sales proceeds and the gain to fair value. The Bolton property continues to be used for auction operations under the operating leaseback agreement until the completion of the acquisition and development of a replacement property located in Amaranth, Ontario. On March 30, 2023, the Company completed its purchase of the Amaranth property for a total purchase consideration of $23.1 million Canadian dollars (approximately $17.1 million) and is proceeding with its development. ​

Other Non-current Assets

Other Non-current Assets	3 Months Ended
	Mar. 31, 2023
Other Non-current Assets
Other Non-current Assets	16. Other Non-current Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Tax receivable ​ $ 9.4 ​ $ 9.1 Loans receivable ​ ​ 15.1 ​ ​ 15.3 Refundable deposits ​ ​ 24.3 ​ ​ — Deferred debt issuance costs ​ 5.1 ​ 3.9 Other ​ 20.8 ​ 12.1 ​ ​ $ 74.7 ​ $ 40.4 ​ Loans Receivable ​ At March 31, 2023, the Company participated in certain financing lending arrangements that are fully collateralized and secured by certain equipment. These financing lending arrangements have a term of one

Trade and Other Payables

Trade and Other Payables	3 Months Ended
	Mar. 31, 2023
Trade and Other Payables
Trade and Other Payables	17. Trade and Other Payables ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Trade payables ​ $ 139.1 ​ $ 54.3 Accrued liabilities ​ 217.5 ​ 128.6 Social security and sales taxes payable ​ 47.2 ​ 38.7 Net consumption taxes payable ​ 16.3 ​ 14.5 Share unit liabilities ​ 6.7 ​ 6.3 Book overdrafts ​ ​ 108.9 ​ ​ — Other payables ​ 22.7 ​ 16.3 ​ ​ $ 558.4 ​ $ 258.7 ​ ​ Book overdrafts represent outstanding checks in excess of funds on deposit.

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt
Debt	18. Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying amount ​ ​ March 31, ​ December 31, ​ 2023 2022 Short-term debt ​ $ 23.6 ​ $ 29.1 ​ ​ ​ ​ ​ ​ ​ Long-term debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term loans: ​ ​ ​ DDTL Facility loan denominated in Canadian dollars, secured, bearing interest at a weighted average rate of 5.86%, due in monthly installments of interest and quarterly installments of principal, maturing in September 2026 ​ ​ — ​ ​ 85.5 Term Loan A Facility loan denominated in Canadian dollars, secured, bearing interest at a weighted average rate of 7.69%, due in monthly or quarterly installments of interest, dependent on the loan term and quarterly installments of principal which commenced on March 31, 2023, maturing in September 2026 ("CAD TLA Facility") ​ 84.8 ​ — Term Loan A Facility loan denominated in US dollars, secured, bearing interest at a weighted average rate of 7.54%, due in monthly or quarterly installments of interest, dependent on the loan term and quarterly installments of principal commencing June 30, 2023, maturing in September 2026 ("USD TLA Facility") ​ 1,825.0 ​ — Less: unamortized debt issuance costs ​ (20.5) ​ (0.4) ​ ​ ​ ​ ​ ​ ​ Senior secured and unsecured notes: ​ ​ ​ ​ Senior unsecured notes bearing interest at 5.375% due in semi-annual installments, with the full amount of principal due in January 2025 (the "2016 Notes") ​ — ​ 500.0 Less: unamortized debt issuance costs ​ — ​ (3.6) Senior secured notes bearing interest at 6.75% due in semi-annual installments, with the full amount of principal due in March 2028 (the "2023 Secured Notes") ​ 550.0 ​ — Less: unamortized debt issuance costs ​ ​ (7.7) ​ ​ — Senior unsecured notes bearing interest at 7.75% due in semi-annual installments, with the full amount of principal due in March 2031 (the "2023 Unsecured Notes") ​ 800.0 ​ — Less: unamortized debt issuance costs ​ ​ (11.2) ​ ​ — Total long-term debt ​ 3,220.4 ​ 581.5 ​ ​ ​ ​ ​ ​ ​ Total debt ​ $ 3,244.0 ​ $ 610.6 ​ ​ ​ ​ ​ ​ ​ Long-term debt: ​ ​ Current portion ​ $ 95.7 ​ $ 4.4 Non-current portion ​ 3,124.7 ​ 577.1 Total long-term debt ​ $ 3,220.4 ​ $ 581.5 ​ At March 31, 2023, the Company had unused committed revolving credit facilities aggregating $709.4 million that are available until September 2026 subject to certain covenant restrictions, unused uncommitted revolving credit facilities aggregating $5.0 million that are available until October 2023, and unused uncommitted revolving credit facilities aggregating $5.0 million with no maturity date. ​ 18. Debt (continued) ​ Short-term Debt ​ Short-term debt is comprised of drawings in different currencies on the Company’s committed revolving credit facilities and has a weighted average interest rate of 6.5% at March 31, 2023 (at December 31, 2022: 5.8%). Long-term Debt ​ a) Term Loans ​ During 2016, the Company entered into a credit agreement with a syndicate of lenders (as amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). The Credit Agreement is comprised of multicurrency revolving facilities (the “Revolving Facilities”), the delayed-draw term loan facility (the “DDTL Facility”), and the Term Loan A facility (the “TLA Facility” and together with the Revolving Facilities and DDTL Facility, the “Facilities”). The Credit Agreement matures on September 21, 2026. Beginning in the third quarter of 2022, the existing DDTL Facility, denominated in Canadian Dollars, was subject to an annual amortization rate of 5%, payable in quarterly installments, with the balance payable upon maturity. In connection with the acquisition of IAA the Company entered into a debt commitment letter with certain financial institutions that committed to provide, subject to the terms and conditions, a bridge loan facility in an aggregate principal amount of up to $2.8 billion and a backstop revolving facility in an aggregate principal amount of up to $750.0 million. In December 2022, the Company subsequently amended the terms of its Credit Agreement which, among other things, permitted the acquisition of IAA and served to terminate the backstop commitments (including the revolving backstop facility and $88.9 million of bridge commitments that served as a backstop for its existing term loans under the credit agreement) and replaced an additional $1.8 billion of bridge commitments with further TLA Facility commitments. On March 20, 2023, with the closing of the acquisition of IAA, $1.8 billion of the TLA Facility was funded at an adjusted term SOFR of 7.54%. The TLA Facility is comprised of a facility denominated in US dollars (“USD TLA Facility”) and a facility denominated in Canadian dollars (“CAD TLA Facility”). The Company’s existing Canadian dollar DDTL Facility loan of CAD $115.9 million was converted to a CAD TLA Facility loan, an alternative currency term rate loan, and continues to be subject to an annual amortization rate of 5%, payable in quarterly installments, with the balance payable upon maturity. Under the amended terms, mandatory principal repayments on the USD TLA Facility begin in the second quarter of 2023 and are subject to quarterly instalments of 1.25% of the $1.8 billion principal amount, with the balance payable at maturity. Further, under the terms of the amendment to the Credit Agreement made in December 2022, certain amended terms became effective including an increase to the total size of the Facilities to up to $2.7 billion, including $1.9 billion of commitments under the TLA Facility. ​ During the three months ended March 31, 2023 the Company incurred debt issuance costs of $22.3 million in connection with the amendment of the Credit Agreement and funding of the TLA Facility, of which $1.4 million is included in non-current assets, $20.3 million has been capitalized against the TLA Facility, and $0.6 million is recorded in acquisition-related and integration costs. ​ At March 31, 2023, the Company had $5.1 million unamortized deferred debt issue costs relating to the Revolving Facilities, all of which is included in non-current assets. ​ b) Senior Secured and Unsecured Notes ​ 2016 Notes On December 21, 2016, the Company completed the offering of $500.0 million aggregate principal amount of 5.375% senior unsecured notes due January 15, 2025 (the “2016 Notes”). ​ The 2016 Notes were redeemed on March 20, 2023 at 100.0% of their original offering price, plus accrued and unpaid interest. The Company was relieved of its obligations for the 2016 Notes upon redemption and therefore recognized the difference of $3.3 million between the reacquisition price and the net carrying amount of the debt extinguished (which included unamortized deferred debt issuance costs) as a loss on redemption of the 2016 Notes in interest expense in the condensed consolidated income statement during the first quarter of 2023. ​ 18. Debt (continued) ​ Long-term Debt (continued) ​ b) Senior Secured and Unsecured Notes (continued) ​ 2021 Notes ​ On December 21, 2021, in connection with the proposed acquisition of Euro Auctions, the Company completed the offering of two series of senior notes: (i) $600.0 million aggregate principal amount of 4.750% senior notes due December 15, 2031 and (ii) $425.0 million Canadian dollar aggregate principal amount of 4.950% senior notes due December 15, 2029 (together the “2021 Notes”). On May 4, 2022, the Company redeemed all of the 2021 Notes at a redemption price equal to 100% of the original offering price of the notes, plus accrued and unpaid interest. The Company was relieved of its obligations for the 2021 Notes upon redemption and therefore recognized the difference of $4.8 million between the reacquisition price and the net carrying amount of the debt extinguished (which included unamortized deferred debt issuance costs) as a loss on redemption of the 2021 Notes in interest expense in the consolidated income statement during the second quarter of 2022. ​ 2023 Notes ​ On March 15, 2023, the Company completed the offering of (i) $550.0 million aggregate principal amount of 6.750% senior secured notes due March 15, 2028 (the “2023 Secured Notes”) and (ii) $800.0 million aggregate principal amount of 7.750% senior unsecured notes due March 15, 2031 (the “2023 Unsecured Notes”, and together with the 2023 Secured Notes, the “ 2023 Notes”). The gross proceeds of the 2023 Notes were released from escrow on March 20, 2023 and were used, along with the TLA Facility, to fund the acquisition of IAA. ​ Interest on the 2023 Notes is payable in cash semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2023. ​ The 2023 Secured Notes are jointly and severally guaranteed on a senior secured basis and the 2023 Unsecured Notes are jointly and severally guaranteed on a senior unsecured basis by certain of the Company’s subsidiaries. ​ The Company incurred total debt issuance costs of $19.0 million in connection with the issuance of the 2023 Secured Notes and 2023 Unsecured Notes, all of which has been capitalized and recorded as a reduction of the amounts outstanding under the 2023 Notes.

Other Non-current Liabilities

Other Non-current Liabilities	3 Months Ended
	Mar. 31, 2023
Other Non-current Liabilities
Other Non-current Liabilities	19. Other Non-current Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Tax payable ​ $ 23.3 ​ $ 16.0 Finance lease liability ​ 28.2 ​ 15.3 Other ​ 7.8 ​ 4.1 ​ ​ $ 59.3 ​ $ 35.4 ​

Temporary Equity, Equity and Di

Temporary Equity, Equity and Dividends	3 Months Ended
	Mar. 31, 2023
Temporary Equity, Equity and Dividends
Temporary Equity, Equity and Dividends	20. Temporary Equity, Equity and Dividends Share Capital Common Stock Unlimited number of common shares, without par value. Preferred Stock ​ Unlimited number of senior preferred stock, of which 485,000,000 are designated as Series A Senior Preferred Shares, and junior preferred shares, without par value, issuable in series. All issued shares are fully paid. ​ In January 2023, the Company entered into a securities purchase agreement with Starboard Value LP and certain affiliates (together, “Starboard”) pursuant to which Starboard agreed to purchase $485.0 million of Series A Senior Preferred Shares, convertible into common shares of the Company, and $15.0 million of common shares of the Company. The transaction closed on February 1, 2023 (the “Issue Date”). ​ The Series A Senior Preferred Shares are convertible into common stock at an initial conversion price of $73.00 per share. The Series A Senior Preferred Shares carry an initial 5.5% preferred dividend, which is payable quarterly, in cash or in shares at the Company's option (“Preferential Dividends”), and are entitled to participate on an as-converted basis in the Company's regular quarterly common share dividends, subject to a $0.27 per share per quarter floor (“Participating Dividends”). On the fourth anniversary of the Series A Senior Preferred Shares Issue Date, holders will have the right to increase the preferred dividend to 7.50%, and on the ninth anniversary of the Series A Senior Preferred Shares Issue Date, holders will have the right to increase the preferred dividend to a fixed percentage equal to the greater of (a) 600 bps over the daily simple SOFR as then in effect and (b) 10.50%, subject, in each case, to the Company’s right to redeem the Series A Senior Preferred Shares for which a dividend rate increase has been demanded (an “Increased Dividend Rate Demand”). ​ In connection with any Increased Dividend Rate Demand, subject to certain conditions, and upon 45 days ’ notice to the holders, the Company will have the right to redeem all or any portion of the then outstanding, at a price equal to 100% of the face amount of such plus any accrued and unpaid dividends thereon. Additionally, at any time after the ninth anniversary of the , subject to certain conditions, and upon 45 days ’ notice to the holders, the Company will have the right to redeem all or any portion of the then outstanding, at a price equal to 100% of the face amount of such plus any accrued and unpaid dividends thereon. Upon consummation of one or more specified change of control transactions, the holders will have the right to require the Company to repurchase the Series A Senior Preferred Shares in cash provided, however, that each holder, at its option, may elect instead to convert its Series A Senior Preferred Shares into the applicable change of control consideration. In addition, the Company has the right to redeem the Series A Senior Preferred Shares in the event of a change of control transaction where the successor entity is not traded on certain eligible markets. The possible future redemption of the Series A Senior Preferred Shares as a result of a change in control has been assessed as not probable at March 31, 2023. ​ Holders of the Series A Senior Preferred Shares are entitled to vote together with the Common Shares on an as-converted basis on all matters permitted by applicable law, subject to certain exceptions to enable compliance with applicable antitrust law. ​ The Series A Senior Preferred Shares rank, with respect to rights as to dividends, distributions, redemptions and payments upon the liquidation, dissolution and winding up of the Company, (a) senior to all of the junior preferred shares of the Company, Common Shares and any other class or series of capital shares of the Company, issued or authorized after the Series A Senior Preferred Shares Issue Date, (b) on a parity basis with each other class or series of capital shares issued or authorized after the Series A Senior Preferred Shares Issue Date, and (c) junior with each other class or series of capital shares issued or authorized after the Series A Senior Preferred Shares Issue Date. ​ 20. Temporary Equity, Equity and Dividends (continued) Share-based Continuing Employment Costs The Company has issued the following common shares in connection with the acquisitions of Rouse and SmartEquip. These shares were issued to certain previous unitholders and shareholders of Rouse and SmartEquip, based on the fair market value of the Company’s common shares at the acquisition date. The Company records share-based continuing employment costs in acquisition-related and integration costs over the vesting period, with an increase to additional paid-in capital. The vesting of shares issued for business combinations is subject to continuing employment with the Company over various dates over a three year period from their respective acquisition dates. As and when the common shares vest, the Company will recognize the fair value of the issued common shares from additional paid-in capital to share capital. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rouse ​ SmartEquip ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ​ Common ​ Fair value ​ Common ​ Fair value Common ​ fair value ​ shares ​ per common ​ shares ​ per common shares ​ per common ​ issued shares issued shares issued shares Outstanding, December 31, 2022 85,560 ​ $ 71.09 ​ 42,646 ​ $ 68.39 ​ 128,206 ​ $ 70.19 Granted — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Vested (4,636) ​ ​ 71.09 ​ — ​ ​ — ​ (4,636) ​ ​ 71.09 Forfeited — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Outstanding, March 31, 2023 80,924 ​ $ 71.09 ​ 42,646 ​ $ 68.39 ​ 123,570 ​ $ 70.16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding, December 31, 2021 189,665 ​ $ 71.09 ​ 63,971 ​ $ 68.39 ​ 253,636 ​ $ 70.41 Granted — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Vested — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Forfeited — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Outstanding, March 31, 2022 189,665 ​ $ 71.09 ​ 63,971 ​ $ 68.39 ​ 253,636 ​ $ 70.41 ​ At March 31, 2023, the Company recognized $0.3 million (2022: nil) of share capital from additional paid-in capital for the portion of common shares previously issued in connection with the acquisition of Rouse that have vested as of March 31, 2023. Shares Issued for Business Combinations At March 31, 2023, the unrecognized share-based continuing employment cost was $2.4 million (at December 31, 2022: $3.2 million), which is expected to be recognized over a weighted average period of 0.9 years. ​ Change in Non-controlling Interest On January 3, 2023, in connection with the acquisition of VeriTread (Note 5), the Company increased its investment in VeriTread from 11% to 75% for a total purchase consideration of $28 million. The Company also entered into a put/call agreement with one of the minority unitholders under which the holder can put its remaining 21% interest in VeriTread to the Company, if certain performance targets are met. As the purchase of the remaining 21% interest from the minority unitholder is outside the control of the Company the redeemable non-controlling interest is classified in temporary equity on the consolidated balance sheet. As discussed in Note 3, ​ The Company also recognized an additional 4% non-controlling interest in VeriTread within equity as that interest does not contain put/call options. ​ 20 . Temporary Equity, Equity and Dividends (continued) Dividends ​ Declared and Paid The Company declared and paid the following dividends to common stockholders during the three months ended March 31, 2023 and 2022: ​ Common Stock ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividend ​ Total ​ ​ ​ Declaration date ​ per share ​ Record date ​ dividends ​ Payment date ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special Dividend ​ March 6, 2023 ​ $ 1.0800 ​ March 17, 2023 ​ $ 120.4 ​ March 28, 2023 Fourth quarter 2022 ​ January 20, 2023 ​ $ 0.2700 ​ February 10, 2023 ​ $ 30.0 ​ March 3, 2023 Fourth quarter 2021 ​ January 21, 2022 ​ $ 0.2500 ​ February 11, 2022 ​ $ 27.7 ​ March 4, 2022 ​ ​ On March 7, 2023, the Company declared a special cash dividend of $1.08 per share, contingent on the closing of the acquisition of IAA, payable to stockholders of record at the close of business on March 17, 2023 (the “Special Dividend”). The Special Dividend was paid in cash on March 28, 2023 following the acquisition of IAA. Preferred Stock The Company recorded Preferential Dividends of $4.3 million to the holders of the Series A Senior Preferred Shares in the first quarter of 2023, of which $3.1 million was paid on March 15, 2023 and $1.2 million was accrued and unpaid at March 31, 2023, and Participating Dividends of $1.8 million on March 3, 2023. ​ Declared and Undistributed Subsequent to March 31, 2023, the Company’s Board of Directors declared a quarterly dividend of $0.27 cents per common share, payable on June 20, 2023 to common stockholders of record on May 30, 2023. ​ Foreign Currency Translation Reserve Foreign currency translation adjustments within other comprehensive income include intra-entity foreign currency transactions that are of a long-term investment nature, which generated a net gain of $1.3 million for the three months ended March 31, 2023 (three months ended 2022: net loss of $0.9 million).

Share-based Payments

Share-based Payments	3 Months Ended
	Mar. 31, 2023
Share-based Payments
Share-based Payments	21. Share-based Payments ​ Share-based payments consist of the following compensation costs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2022 Selling, general and administrative: ​ ​ Stock option compensation expense ​ $ 2.6 ​ $ 2.6 Equity-classified share units ​ ​ 3.5 ​ ​ 2.9 Liability-classified share units ​ ​ — ​ ​ (0.8) Employee share purchase plan - employer contributions ​ 0.6 ​ 0.7 ​ ​ ​ 6.7 ​ ​ 5.4 Acquisition-related and integration costs: ​ ​ ​ ​ Acceleration of share-based payments expense ​ ​ 5.0 ​ ​ — Share-based continuing employment costs ​ 1.0 ​ 2.1 ​ ​ 6.0 ​ 2.1 ​ ​ $ 12.7 ​ $ 7.5 ​ 21. Share-based Payments (continued) ​ Conversion of IAA Share Based Awards ​ In connection with the acquisition of IAA, IAA’s stock options, RSU and PRSU awards were cancelled and exchanged into 187,727 Company stock options and 366,379 Company RSU awards. The PRSU’s were replaced with RSU awards. At the closing of the acquisition of IAA, the converted share-based awards had an estimated aggregate fair value of $24.9 million, of which $4.8 million was attributable to post-combination services and will be recognized as share-based payment expense over the remaining service periods. The Company awards are subject to the same terms and conditions as applicable to the corresponding IAA equity awards held prior to the acquisition of IAA, including vesting terms, with the exception of any Company RSU awards that replace IAA’s PRSU awards, where vesting will no longer be subject to the achievement of performance goals and will be solely based on providing continued services to the Company through the end of the applicable service period. ​ IAA restricted stock awards and IAA phantom stock awards which were granted to non-employee directors of IAA, vested at closing of the acquisition of IAA and therefore do not have a future service requirement. Accordingly, the entire post-combination portion of such awards of $0.3 million has been recognized as share-based payment expense concurrent with the closing of the acquisition of IAA. ​ In addition, certain former executives of IAA were terminated in connection with the acquisition of IAA and their outstanding awards were fully accelerated as of the closing date. Accordingly, $4.3 million has been recognized as share-based payment expense concurrent with the closing of the acquisition of IAA. ​ Stock Option Plans ​ The Company has the following four stock option plans that provide for the award of stock options and premium-priced stock options to selected employees, directors, and officers of the Company: (i) Amended and Restated Stock Option Plan, (ii) IronPlanet 1999 Stock Plan, (iii) IronPlanet 2015 Stock Plan, and (iv) 2019 IAA Omnibus Stock and Incentive Plan. ​ The 2019 IAA Omnibus Stock and Incentive Plan was assumed by the Company as part of the acquisition of IAA . ​ ​ Stock option activity for the three months ended March 31, 2023 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ Premium-priced stock options ​ ​ ​ ​ ​ ​ WA ​ ​ ​ ​ ​ ​ ​ ​ ​ WA ​ ​ ​ ​ Common ​ WA ​ remaining ​ Aggregate ​ Common ​ WA ​ remaining ​ Aggregate ​ shares under ​ exercise ​ contractual ​ intrinsic ​ shares under ​ exercise ​ contractual ​ intrinsic ​ option price life (in years) value option price life (in years) value Outstanding, December 31, 2022 2,730,295 ​ $ 46.88 ​ ​ 7.3 ​ $ 31.2 ​ 1,118,432 ​ $ 91.26 ​ ​ 4.7 ​ $ — Granted — ​ ​ — ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ — Assumed in IAA acquisition (Note 5) 187,727 ​ ​ 50.96 ​ ​ — ​ ​ 1.7 ​ — ​ ​ — ​ ​ — ​ ​ — Exercised (19,729) ​ ​ 34.01 ​ ​ — ​ ​ 0.5 ​ — ​ ​ — ​ ​ — ​ ​ — Forfeited (52,978) ​ ​ 45.33 ​ — ​ — ​ (38,635) ​ ​ 91.19 ​ — ​ — Outstanding, March 31, 2023 2,845,315 ​ $ 47.26 ​ ​ 6.5 ​ $ 28.7 ​ 1,079,797 ​ $ 91.26 ​ ​ 4.3 ​ $ — Exercisable, March 31, 2023 2,069,936 ​ $ 43.61 ​ ​ 5.8 ​ $ 27.8 ​ — ​ $ — ​ — ​ $ — ​ ​ 21. Share-based Payments (continued) ​ Stock Option Plans (continued) ​ Stock Options ​ The Company uses the Black Scholes option pricing model to fair value stock options. There were no stock options granted during the three month period ended March 31, 2023 other than the stock options assumed as part of the IAA acquisition. Significant assumptions used to estimate the fair value of stock options granted during the three months ended March 31, 2022 are presented in the following table on a weighted average basis: ​ ​ ​ ​ ​ Three months ended March 31, 2022 Risk free interest rate 2.1 % Expected dividend yield 1.75 % Expected lives of the stock options 4 years Expected volatility 31.7 % ​ At March 31, 2023, the unrecognized stock-based compensation cost related to the non-vested stock options was $4.8 million, which is expected to be recognized over a weighted average period of 1.8 years. ​ The fair value of the assumed stock options is estimated on the IAA acquisition date using the Black-Scholes option pricing model. The weighted average fair value of the assumed options was $15.52. The significant assumptions used to estimate the fair value of these assumed stock options are presented in the following table on a weighted average basis: ​ ​ ​ ​ ​ ​ Three months ended March 31, 2023 Risk free interest rate 3.9 % Expected dividend yield 2.05 % Expected lives of the stock options 2 years Expected volatility 33.3 % ​ Premium-priced Stock Options ​ The Company also grants premium-priced stock options to the senior executives with exercise prices above the fair market value of the Company’s common shares on grant dates. The premium-priced stock options vest and become exercisable upon the third anniversary of their grant date. The fair values of the premium-priced stock options were calculated on the grant date using a Monte Carlo simulation model. There were no premium-priced stock options granted during the three month period ended March 31, 2023 and 2022. ​ At March 31, 2023, the unrecognized stock-based compensation cost related to the premium-priced stock options was $4.6 million, which is expected to be recognized over a weighted average period of 1.6 years. ​ ​ 21. Share-based Payments (continued) ​ Share Unit Plans ​ Share unit activity for the nine months ended March 31, 2023 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity-classified awards ​ Liability-classified awards ​ ​ PSUs ​ PSUs with Market Conditions ​ RSUs ​ DSUs ​ ​ ​ ​ WA grant ​ ​ ​ WA grant ​ ​ ​ WA grant ​ ​ ​ ​ WA grant ​ ​ ​ ​ date fair ​ ​ ​ date fair ​ ​ ​ date fair ​ ​ ​ ​ date fair ​ Number value Number value Number value ​ Number value Outstanding, December 31, 2022 662,634 ​ $ 51.71 ​ 102,879 ​ $ 66.08 ​ 68,024 ​ $ 58.32 ​ 108,365 ​ $ 39.35 Granted 10,216 ​ 56.74 ​ — ​ — ​ 1,137 ​ 60.11 ​ 7,094 ​ 53.05 Assumed in IAA acquisition (Note 5) — ​ — ​ — ​ — ​ 366,379 ​ 52.79 ​ — ​ — Vested and settled (283,086) ​ 42.23 ​ — ​ — ​ (23,986) ​ 53.68 ​ — ​ — Forfeited (4,123) ​ 58.93 ​ — ​ — ​ (1,459) ​ 60.95 ​ — ​ — Outstanding at March 31, 2023 385,641 ​ $ 58.72 ​ 102,879 ​ $ 66.08 ​ 410,095 ​ $ 53.65 ​ 115,459 ​ $ 40.19 ​ The total market value of liability-classified share units vested and released during the first three months of 2023 was nil (2022: nil). ​ Senior Executive and Employee PSU Plans The Company grants PSUs under a senior executive PSU plan and an employee PSU plan (the “PSU Plans”). Under the PSU Plans, the number of PSUs that vest is conditional upon specified market, service, and/or performance vesting conditions being met. The PSU Plans allow the Company to choose whether to settle the awards in cash or in shares. The Company intends to settle by issuance of shares. With respect to settling in shares, the Company has the option to either (i) arrange for the purchase of shares on the open market on the employee’s behalf based on the cash value that otherwise would be delivered, or (ii) issue a number of shares equal to the number of units that vest. Fair values of equity-classified PSUs are estimated on the grant date using the market close price of the Company's common shares listed on the NYSE, as these are not subject to market vesting conditions. At March 31, 2023, the unrecognized share unit expense related to equity-classified PSU’s was $11.2 million, which is expected to be recognized over a weighted average period of 1.7 years. 21. Share-based Payments (continued) ​ PSUs with Market Conditions ​ The Company also grants PSUs to senior executives with a market condition where vesting is conditional upon the total stockholder return performance of the Company’s stock relative to the performance of a peer group over a three year performance period from the date of grant. There were no PSUs with market conditions granted in the three month period ended March 31, 2023 and 2022. ​ At March 31, 2023, the unrecognized share unit expense related to equity-classified PSUs with market conditions was $3.1 million, which is expected to be recognized over a weighted average period of 1.4 years. ​ RSUs ​ The Company has restricted share unit plans (RSU plans) that are equity-settled and not subject to market vesting conditions. Fair values of RSUs are estimated on grant date using the market close price of the Company's common shares listed on the NYSE. At March 31, 2023, the unrecognized share unit expense related to equity-classified RSUs was $5.8 million, which is expected to be recognized over a weighted average period of 1.5 years. DSUs The Company has deferred share unit plans (DSU plans) that are cash-settled and not subject to market vesting conditions. Fair values of deferred share units (“DSUs”) are estimated on grant date and at each reporting date using the market close price of the Company’s common shares listed on the NYSE. DSUs are granted under the DSU plan to members of the Board of Directors. There is no unrecognized share unit expense related to liability-classified DSUs as they vest immediately and are expensed upon grant. At March 31, 2023, the Company had a total share unit liability of $6.7 million (at December 31, 2022: $6.3 million) in respect of share units under the DSU plans. Employee Share Purchase Plan In February 2023, the Board approved the suspension of the Company’s 1999 Employee Share Purchase Plan. On April 3, 2023, the Board adopted the Company’s 2023 Employee Stock Purchase Plan (the “2023 ESPP”), subject to shareholder approval. The 2023 ESPP is described in greater detail in the Company’s Proxy Statement filed on Form DEF14A on EDGAR and SEDAR on April 11, 2023.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases
Leases	22. Leases ​ The Company enters into commercial leases for various auctions sites, branches and offices, the majority of which are non-cancellable, and additional operating leases for computer equipment, motor vehicles and small office equipment. With the exception of one lease expiring in 2092, the majority of the Company’s operating leases have a fixed term with a remaining life between one month and 20 years, with renewal options included in the contracts. The leases have varying contract terms, escalation clauses and renewal options. The Company also enters into finance lease arrangements for certain vehicles, computer and yard equipment, fixtures, and office furniture, the majority of these leases have a fixed term with a remaining life of one month to six years with renewal options included in the contracts. On March 17, 2022, the Company completed the sale and leaseback of its Bolton property, a parcel of land including all buildings, in Bolton, Ontario (Note 15). The Company intends to lease the Bolton property for a period of 28 months until such time that the replacement property is available for the relocation of the Company’s operations. The lease has an initial rent-free period of two years and an option to renew the lease for two On June 30, 2022, the Company also recorded $9.0 million in ROU asset and a long-term lease liability 22. Leases (continued) ​ The Company’s breakdown of lease expense is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2023 ​ 2022 Operating lease cost ​ $ 13.1 ​ $ 4.7 Finance lease cost ​ ​ ​ ​ ​ Amortization of leased assets ​ 5.3 ​ ​ 2.6 Interest on lease liabilities ​ 0.4 ​ ​ 0.2 Short-term lease cost ​ 3.4 ​ ​ 3.5 Sublease income ​ (0.1) ​ ​ — ​ ​ $ 22.1 ​ $ 11.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2023
Contingencies
Contingencies	23. Contingencies Legal and Other Claims The Company is subject to legal and other claims that arise in the ordinary course of its business. Management does not believe that the results of these claims will have a material effect on the Company’s consolidated balance sheet or consolidated income statement. ​ Guarantee Contracts In the normal course of business, the Company will in certain situations guarantee to a consignor a minimum level of proceeds in connection with the sale at auction of that consignor’s equipment. At March 31, 2023, there were $90.1 million of assets guaranteed under contract, of which 97% is expected to be sold prior to June 30, 2023, with the remainder to be sold by December 31, 2024 (at December 31, 2022: $31.0 million of which 62% was expected to be sold prior to the end of March 31, 2023 with the remainder to be sold by December 31, 2023). The outstanding guarantee amounts are undiscounted and before estimated proceeds from sale at auction. ​

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Significant Accounting Policies
Basis of Preparation	(a) Basis of Preparation These unaudited condensed consolidated interim financial statements have been prepared in accordance with United States generally accepted accounting principles (“US GAAP”). They include the accounts of Ritchie Bros. Auctioneers Incorporated and its subsidiaries from their respective dates of formation, acquisition or control. All significant intercompany balances and transactions have been eliminated. Certain information and footnote disclosure required by US GAAP for complete annual financial statements have been omitted and, therefore, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2022, included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”). These unaudited condensed consolidated interim financial statements follow the same accounting policies and methods of application as our most recent annual audited consolidated financial statements except as described in Note 2(b) “New Accounting Standards and Accounting Policies”. In the opinion of management, these unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, cash flows and changes in temporary equity and equity for the interim periods presented. The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. ​ Unless otherwise indicated, all amounts in the following tables are in millions except share and per share amounts. ​
Reclassification	Reclassifications ​ The following reclassifications have been made in the presentation of prior period financial statements to conform to the presentation of the current period financial statements: ​ (i) reclassification in 2022 of $23.3 million from trade and other liabilities to auction proceeds payable relating to amounts payable to consignors from our auctions and marketplaces, which are held for various reasons beyond the typical payment terms of 21 days; ​ (ii) reclassification in 2022 of $122.9 million from other non-current assets to operating lease right-of-use assets, $12.7 million from trade and other liabilities to current operating lease liabilities, and $111.9 million from other non-current liabilities to long-term operating lease liabilities; and ​ (iii) reclassification of $0.2 million foreign exchange gain for the three-month period ended March 31, 2022, from operating income to below operating income. ​
Prepaid consigned vehicle charges	Prepaid Consigned Vehicle Charges ​ Prepaid consigned vehicle charges include the inbound tow, titling costs and enhancement charges associated with a consigned vehicle. These prepaid charges are recorded in cost of services at the date the vehicle is sold and revenue is recognized. ​
Redeemable non-controlling interest	Redeemable Non-controlling Interest ​ Redeemable non-controlling interest is classified as temporary equity on the consolidated balance sheet, as the holder may demand cash and put the non-controlling interest to the Company. Redeemable non-controlling interest is initially ​
Redeemable convertible preferred stock	Redeemable Convertible Preferred Stock ​ Redeemable convertible preferred stock is classified as temporary equity on the consolidated balance sheet because it could become redeemable due to a change in control which would be outside of the Company’s control and requires a cash payment upon redemption. The redeemable convertible preferred stock is initially carried at fair value, and if Direct and incremental costs incurred in connection with the issuance of redeemable convertible stock are recorded against the proceeds received and included in its initial carrying amount. ​ On February 1, 2023, the Company sold an aggregate of 485.0 million of redeemable convertible preferred stock, convertible into common stock, designated as Series A Senior Preferred Shares (“Series A Senior Preferred Shares”). ​
Earnings per share	Earnings Per Share ​ Basic earnings per share (“EPS”) is calculated based on the two-class method, given that the Company’s Series A Senior Preferred Shares are considered a participating security as it contractually entitles its holders to participate in the Company’s earnings. The two-class method is an earnings allocation method for computing earnings or losses per share when a Company’s capital structure includes common stock and participating securities. The two-class method determines earnings per share between holders of common stock and the Company’s participating preferred stock based on dividends declared and their respective participation rights in undistributed earnings. Net income available to common stockholders is computed as: net income attributable to controlling interests less cumulative dividends on Series A Senior Preferred Shares and allocated earnings to participating securities. Basic EPS is calculated by dividing net income available to common stockholders by the weighted average common stock outstanding. Diluted EPS is calculated similarly, except that it is computed based upon the lower of the two-class method or the if-converted method, which includes the effects of the assumed conversion of the Series A Senior Preferred Shares, and the effect of shares issuable under the Company’s stock-based incentive plans if such effect is dilutive. ​
Revenue	Revenue ​ Revenues are comprised of: ● Service revenue, including the following: i. Revenue from commissions earned when the Company sells consigned assets at live and online bidding auctions or online marketplaces, and from private brokerage services where the Company acts as an agent for consignors of assets; and ii. Revenue from buyer fees earned on the purchase of consigned assets or inventory at live and online bidding auctions or online marketplaces, and from private brokerage services, which are typically based on a tiered structure that increases with the sales price of the assets; and iii. Revenue from marketplace services fees earned from auction related activities, such as document, listing and title search services, and from additional marketplaces services provided to customers, such as buyer towing, refurbishment, logistical and electronic title and liens processing, financing, appraisals, subscriptions for data, parts and software services, and other ancillary and transactional service fees. ​ ● Inventory sales revenue which consists of revenue relating to assets that are purchased by the Company and then resold through either our live and online bidding auctions, online marketplaces, or our private brokerage services. ​ The Company recognizes revenue when control of the promised goods or services is transferred to our customers, or upon completion of the performance obligation, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. A performance obligation is a promise in a contract to transfer a distinct good or service, or a series of distinct goods or services, to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The transaction price is reduced by estimates of variable consideration such as volume rebates and discounts. All estimates, which are evaluated at each reporting period, are based on the Company’s historical experience, anticipated volumes, and best judgment. For auctions, revenue is recognized when the auction sale is complete, and the performance obligation is satisfied at the end of the auction process. Revenue is measured at the fair value of the consideration received or receivable and is shown net of value-added tax and duties. ​ ​ 2. Significant Accounting Policies (continued) ​ (b) New Accounting Standards and Accounting Policies (continued) ​ Revenue (continued) ​ The Company offers consignors several contract options: ● Straight commission contracts, where the consignor receives the gross proceeds from the sale less a pre-negotiated commission rate; ● Fixed fee commission contracts, where the consignor receives the gross proceeds from the sale less a fixed flat fee; ● Guarantee contracts, where the consignor receives a guaranteed minimum amount plus an additional amount if proceeds exceed a specified level; and ● Inventory contracts, where we purchase, take custody, and hold used equipment and other assets before they are resold in the ordinary course of business. ​ Service Revenue The Company’s commissions are earned as a pre-negotiated fixed percentage rate of the gross selling price or as a fixed fee. Commissions are calculated as a percentage of the winning bid price of the property sold at auction or are fixed in value. Fixed fees are earned in auction contracts for sellers relating to the sale of vehicles and includes the remarketing of vehicles, including the inbound tow, processing, storage, titling, enhancing and sale at auction. Related costs are deferred and recognized at the time of sale. Other commissions from sales at the Company’s auctions are earned from underwritten commission contracts when the Company typically guarantees a certain level of proceeds to a consignor. The Company accepts assets on consignment and stimulates buyer interest through professional marketing techniques by matching sellers (also known as consignors) to buyers through the auction or private sale process. Prior to offering an item for sale on its online marketplaces, the Company also performs inspections. Buyer fees are calculated based on a tiered structure that increases with the sales price of the item sold. Marketplace services fees earned in the process of conducting the Company’s auctions include administrative, documentation, and advertising fees as well as fees charged to sellers for listing and inspecting equipment. The Company also offers other services to customers such as transportation and logistics, storage, vehicle condition reporting, parts, data, inspections, appraisals, financing, and other ancillary services such as refurbishment, repairs, paint, make ready, towing, listings, and title and liens processing. Marketplace services fees also includes fixed registration fees from buyers of vehicles to access the auctions for a one With the final acceptance of the winning bid, the highest bidder becomes legally obligated to pay the full purchase price, which is the winning bid of the property purchased and the seller is legally obligated to relinquish the property in exchange for the winning bid less any seller’s commissions. Commission and fee revenue are recognized on the date of the auction sale upon the final acceptance of the winning bid. Registration fees to access certain vehicle auctions for a one Under the standard terms and conditions of its auction sales, except for contracts for the sale of vehicles, the Company is not obligated to pay a consignor for property that has not been paid for by the buyer, provided the property has not been released to the buyer. Under the standard terms and conditions of its vehicle auction sales, the Company in certain arrangements may have to pay a consignor for property that has not been paid for by the buyer. If the buyer defaults on its payment obligation, also referred to as a collapsed sale, the sale is cancelled in the period in which the determination is made, and the property is returned to the consignor or placed in a later event-based or online auction. The Company recognizes a provision for expected collapsed or cancelled sales, which is the Company’s best estimate of the service revenues relating to transactions which may not complete and where the buyer may default on its obligation. The Company determines the provision based on historical collapse experience, customer data and reasonable and supportable forecasts of the outcome of such transactions. ​ 2. Significant Accounting Policies (continued) ​ (b) New Accounting Standards and Accounting Policies (continued) ​ Service Revenue (continued) ​ Commission revenue is recorded net of commissions owed to third parties, which are principally the result of situations when the commission is shared with a consignor in an auction guarantee risk and reward sharing arrangement. Underwritten commission contracts can take the form of guarantee contracts. Guarantee contracts typically include a pre-negotiated percentage of the guaranteed gross proceeds plus a percentage of proceeds in excess of the guaranteed amount. If actual auction proceeds are less than the guaranteed amount, commission is reduced; if proceeds are sufficiently lower, the Company can incur a loss on the sale. Losses, if any, resulting from guarantee contracts are recorded in the period in which the relevant auction is completed. If a loss relating to a guarantee contract held at the period end to be sold after the period end is known or is probable and estimable at the financial statement reporting date, the loss is accrued in the financial statements for that period. The Company’s exposure from these guarantee contracts fluctuates over time. Marketplace services fees are recognized in the period in which the service is provided or the product is delivered to the customer. Inventory Sales Revenue Underwritten commission contracts can take the form of inventory contracts. Revenue related to inventory contracts is recognized in the period in which the sale is completed, title to the property passes to the buyer and the Company has fulfilled any other obligations that may be relevant to the transaction. In its role as auctioneer, the Company auctions its inventory to buyers through the auction process. Following the sale of the item, the Company invoices the buyer for the purchase price of the asset, taxes, and, if applicable, the buyer transaction fee, and collects payment from the buyer. With the final acceptance of the winning bid, the highest bidder becomes legally obligated to pay the full purchase price, which is the winning bid of the property purchased. Title to the property is transferred in exchange for the winning bid price, and if applicable, the buyer transaction fee plus applicable taxes. In a private treaty transaction where inventory is sold in a private process or inventory contracts are sold on our online marketplaces, commission and fee revenue is recognized on the date the buyer has obtained control of the asset.
Costs of services	Costs of Services ​ Costs of services incurred in earning revenue are comprised of expenses incurred in direct relation to conducting auctions (“direct expenses”), earning online marketplace revenue, and earning marketplace services fee revenue. Direct expenses include direct labor, buildings and facilities charges, subcontract services such as towing, service contract claims, and travel, advertising and promotion costs and fees paid to unrelated third parties who introduce the Company to equipment sellers who sell property at the Company's auctions and marketplaces. Direct expenses at auction yards which conduct regular weekly events include cost of full-time employees, part time labour, lease expense and maintenance. Costs of services to operate our online marketplace revenue excludes hosting costs where we leverage a shared infrastructure that supports both our internal technology requirements and external sales to our customers. ​ Costs of services incurred to earn online marketplace revenue in addition to the costs listed above also include inspection costs. Costs of earning online marketplace revenue also include costs for the Company’s customer support, online marketplace operations, logistics, and title and lien investigation functions. Costs of services incurred in earning marketplace services revenue include ancillary and logistical service expenses, direct labor (including commissions on sales), cloud infrastructure and hosting costs, software maintenance fees, and materials. Costs of services exclude depreciation and amortization expenses. ​
Cost of inventory sold	Cost of Inventory Sold ​ Cost of inventory sold includes the purchase price of assets sold for the Company’s own account and is determined using a specific identification basis. Inventories are stated at the lower of cost or estimated realizable value. Cost includes the Company’s cost of acquiring ownership of the vehicle. ​
Trade and other receivables	Trade and Other Receivables ​ Trade receivables principally include amounts due from customers as a result of live onsite and online auctions and online marketplace transactions and services. The recorded amount reflects the purchase price of the item sold, including the Company’s commission. The amounts due with respect to any consigned sales are generally deducted from the sales proceeds upon the eventual auction or other disposition of the asset. For vehicle sales, advance charges paid on a seller’s behalf are also included in trade receivables. ​ The allowance for credit losses is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. The Company determines the allowance based on historical write-off experience, customer economic data and reasonable and supportable forecasts of future economic conditions. The Company regularly reviews the allowance for credit losses and past due balances for collectability. Account balances are charged against the allowance when the Company believes that the receivable will not be recovered.
Self-insurance reserves	Self-insurance Reserves ​ The Company self-insures a portion of employee medical benefits, as well as a portion of its automobile, general liability and workers’ compensation claims. The Company has insurance coverage that limits the exposure on individual claims. The cost of the insurance is expensed over the contract periods. Utilizing historical claims experience, the Company records an accrual for the claims related to its employee medical benefits, automobile, general liability and workers’ compensation claims based upon the expected amount of all such claims, which includes the cost of claims that have been incurred but not reported.

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2023
Business Acquisition [Line Items]
Schedule of consideration transferred	​ ​ ​ ​ ​ Cash consideration ​ $ 1,714.2 Fair value of common shares issued ​ ​ 3,713.0 Fair value of exchanged IAA equity awards attributable to pre-combination service ​ ​ 13.1 Reimbursement of sell-side acquisition costs ​ ​ 48.8 Repayment of IAA net debt ​ ​ 1,157.1 Total fair value of consideration transferred ​ $ 6,646.2 ​
Schedule of pro forma results	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Three months ended ​ March 31, 2023 March 31, 2022 Revenue ​ ​ 988.0 ​ ​ 950.7 Net income ​ ​ 91.4 ​ ​ 6.4 ​
IAA
Business Acquisition [Line Items]
Schedule of purchase price allocation	​ ​ ​ ​ ​ ​ ​ ​ Purchase price ​ $ 6,646.2 ​ ​ ​ ​ Assets acquired: ​ ​ Cash and cash equivalents ​ ​ 161.0 Trade and other receivables ​ 498.7 Prepaid consigned vehicle charges ​ ​ 8.7 Inventory ​ ​ 57.6 Other current assets ​ ​ 31.1 Property, plant and equipment ​ 655.7 Operating lease right-of-use assets ​ ​ 1,252.5 Other non-current assets ​ 34.8 Intangible assets ​ 2,340.0 ​ ​ ​ Liabilities assumed: ​ ​ Auction proceeds payable ​ ​ 60.7 Trade and other liabilities ​ 250.4 Current operating lease liability ​ ​ 78.0 Long-term operating lease liability ​ ​ 1,166.0 Other non-current liabilities ​ ​ 23.4 Deferred tax liabilities ​ 604.2 ​ ​ ​ ​ Fair value of identifiable net assets acquired ​ 2,857.4 Goodwill acquired on acquisition ​ $ 3,788.8 ​
Schedule of fair values of the identifiable intangible assets acquired and their related estimated useful lives	​ ​ ​ ​ ​ ​ ​ ​ ​ Preliminary fair value ​ Weighted average Asset ​ at acquisition ​ amortization period Customer relationships ​ $ 2,030.0 ​ 9 years Developed technology ​ ​ 150.0 ​ 6 years Trade names and trademarks ​ ​ 160.0 ​ 6 years Total ​ $ 2,340.0 ​ 8.6 years ​
VeriTread
Business Acquisition [Line Items]
Schedule of purchase price allocation	​ ​ ​ ​ ​ Total cash consideration paid ​ $ 28.1 Fair value of previously held interest ​ ​ 4.3 Purchase price ​ $ 32.4 ​ ​ Assets acquired: ​ Cash and cash equivalents ​ ​ 3.4 Trade and other receivables, and other current assets ​ 0.9 Intangible assets ​ 14.7 ​ ​ Liabilities assumed: ​ Trade and other liabilities ​ 1.1 ​ ​ ​ ​ Fair value of identifiable net assets acquired ​ 17.9 ​ ​ ​ ​ Redeemable non-controlling interest ​ ​ (8.9) Non-controlling interest ​ ​ (1.8) ​ ​ ​ ​ Goodwill acquired on acquisition ​ $ 25.2 ​
Schedule of fair values of the identifiable intangible assets acquired and their related estimated useful lives	​ ​ ​ ​ ​ ​ ​ ​ ​ Preliminary fair value ​ Weighted average Asset ​ at acquisition ​ amortization period Customer relationships ​ $ 7.2 ​ 5 years Software and technology assets ​ ​ 7.1 ​ 7 years Trade names and trademarks ​ ​ 0.4 ​ 2 years Total ​ $ 14.7 ​ 5.9 years ​

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Information
Geographic Information of Revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue for the three months ended: States Canada Australia Europe Other Consolidated March 31, 2023 $ 360.1 $ 68.3 $ 19.1 $ 50.7 $ 14.2 $ 512.4 March 31, 2022 ​ ​ 248.0 ​ 65.2 ​ ​ 29.1 ​ 37.8 ​ 13.8 ​ 393.9

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue.
Revenue from the rendering of services and sale of inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, ​ 2023 ​ 2022 Commissions ​ $ 130.6 ​ $ 116.4 Buyer fees ​ 140.7 ​ 75.6 Marketplace services revenue ​ ​ 72.3 ​ ​ 52.9 Total service revenue ​ ​ 343.6 ​ ​ 244.9 ​ ​ ​ ​ ​ ​ Inventory sales revenue ​ 168.8 ​ 149.0 Total revenue ​ $ 512.4 ​ $ 393.9 ​

Operating Expenses (Tables)

Operating Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Operating Expenses
Schedule Of Acquisition Related and Integration Costs Expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2022 IAA ​ ​ ​ ​ ​ ​ Financing ​ $ 30.0 ​ $ — Severance ​ ​ 14.0 ​ ​ — Integration ​ ​ 5.1 ​ ​ — Acceleration of share-based payments expense ​ ​ 5.0 ​ ​ — Legal ​ ​ 9.5 ​ ​ — Investment banking, consulting and other acquisition-related costs ​ ​ 61.6 ​ ​ — ​ ​ ​ 125.2 ​ ​ — ​ ​ ​ ​ ​ ​ ​ SmartEquip ​ ​ 0.3 ​ ​ 1.2 Euro Auctions ​ ​ — ​ ​ 6.6 Rouse ​ ​ 0.5 ​ ​ 1.8 VeriTread ​ ​ 0.2 ​ ​ — Total acquisition-related and integration costs ​ $ 126.2 ​ $ 9.6 ​
Schedule of Depreciation and Amortization Expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2022 Depreciation ​ $ 11.5 ​ $ 7.7 Amortization ​ 24.7 ​ 16.5 ​ ​ $ 36.2 ​ $ 24.2

Earnings Per Share Attributab_2

Earnings Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share Attributable to Common Stockholders
Computation of Basic and Diluted Earnings Per Share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2023 2022 Net (loss) income available to common stockholders ​ $ (34.2) ​ $ 178.1 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic weighted average share outstanding ​ ​ 120,487,251 ​ ​ 110,647,700 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Share units ​ ​ — ​ ​ 450,259 Stock options ​ ​ — ​ ​ 557,902 Diluted average shares outstanding ​ ​ 120,487,251 ​ ​ 111,655,861 ​ ​ ​ ​ ​ ​ ​ Net (loss) income per share attributable to common shares: ​ ​ ​ ​ ​ ​ Basic ​ $ (0.28) ​ $ 1.61 Diluted ​ $ (0.28) ​ $ 1.60 ​
Schedule of anti-dilutive securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2023 ​ ​ 2022 Share units ​ ​ 631,409 ​ ​ — Stock options ​ ​ 541,082 ​ ​ — Preferred stock (as converted to common stock) ​ ​ 6,775,252 ​ ​ — Total ​ ​ 7,947,743 ​ ​ —

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Information
Schedule of Net Changes in Operating Assets and Liabilities	​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 ​ 2022 Trade and other receivables $ (104.3) $ (142.3) Prepaid consigned vehicle charges ​ ​ (14.2) ​ ​ — Inventory ​ ​ (46.4) ​ ​ 23.2 Advances against auction contracts ​ ​ 1.0 ​ ​ (5.0) Prepaid expenses and deposits ​ ​ (6.3) ​ ​ 12.2 Income taxes receivable ​ ​ (16.0) ​ ​ 0.4 Auction proceeds payable ​ ​ 118.2 ​ ​ 242.2 Trade and other liabilities ​ ​ 38.9 ​ ​ (19.2) Income taxes payable ​ ​ (40.8) ​ ​ 19.5 Operating lease obligations ​ ​ (10.9) ​ ​ (2.7) Other ​ ​ (6.0) ​ ​ 0.4 Net changes in operating assets and liabilities $ (86.8) $ 128.7 ​
Schedule of Supplemental Cash Flow	​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 ​ 2022 Interest paid, net of interest capitalized $ 20.4 $ 19.2 Interest received ​ ​ 6.3 ​ ​ 0.5 Net income taxes paid ​ ​ 50.9 ​ ​ 4.1 ​ ​ ​ ​ ​ ​ ​ Non-cash purchase of property, plant and equipment under finance lease ​ 4.9 ​ 2.5 Non-cash operating right of use assets obtained in exchange for new lease obligations ​ 1.4 ​ 4.7 ​

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Measurement
Fair Value Assets Recurring and Nonrecurring	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ December 31, 2022 ​ ​ ​ ​ Carrying ​ ​ ​ ​ Carrying ​ ​ ​ ​ Category amount Fair value amount Fair value Fair values disclosed: ​ ​ ​ ​ Loans receivable ​ Level 2 ​ $ 23.4 ​ $ 23.3 ​ $ 23.4 ​ $ 23.3 Derivative financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forward currency contracts ​ Level 2 ​ ​ 0.2 ​ ​ 0.2 ​ ​ 0.2 ​ ​ 0.2 Long-term debt ​ ​ ​ ​ ​ ​ ​ ​ Senior secured and unsecured notes ​ ​ ​ ​ ​ ​ ​ 2016 Notes ​ Level 1 ​ ​ — ​ ​ — ​ ​ 496.3 ​ ​ 491.9 2023 Secured Notes ​ Level 1 ​ ​ 542.3 ​ ​ 565.1 ​ ​ — ​ ​ — 2023 Unsecured Notes ​ Level 1 ​ ​ 788.8 ​ ​ 835.5 ​ ​ — ​ ​ — Term loans ​ Level 2 ​ ​ 1,889.3 ​ ​ 1,909.8 ​ ​ 85.2 ​ ​ 85.5 ​

Trade and Other Receivables (Ta

Trade and Other Receivables (Tables)	3 Months Ended
	Mar. 31, 2023
Trade and Other Receivables
Schedule of activity in the allowance for expected credit losses	​ ​ ​ ​ ​ Balance at December 31, 2022 $ 3.3 Current period provision ​ 1.5 Write-offs charged against the allowance ​ (0.7) Balance at March 31, 2023 ​ $ 4.1 ​
Schedule of Trade and Other Receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Advanced charges receivable ​ $ 361.6 ​ $ — Trade account receivable ​ ​ 397.4 ​ ​ 143.8 Consumption taxes receivable ​ 22.1 ​ ​ 31.2 Other receivables ​ ​ 12.0 ​ ​ 11.5 Trade and other receivables, gross ​ ​ 793.1 ​ ​ 186.5 Less: allowance for credit losses ​ (4.1) ​ (3.3) Trade and other receivables, net ​ $ 789.0 ​ $ 183.2

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Other Current Assets
Schedule of Other Current Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Advances against auction contracts ​ $ 8.0 ​ $ 8.9 Assets held for sale ​ — ​ 0.3 Prepaid expenses and deposits ​ 74.7 ​ 38.9 Derivative financial asset ​ ​ 0.2 ​ ​ 0.2 ​ ​ $ 82.9 ​ $ 48.3 ​

Other Non-current Assets (Table

Other Non-current Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Other Non-current Assets
Schedule of Other non-current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Tax receivable ​ $ 9.4 ​ $ 9.1 Loans receivable ​ ​ 15.1 ​ ​ 15.3 Refundable deposits ​ ​ 24.3 ​ ​ — Deferred debt issuance costs ​ 5.1 ​ 3.9 Other ​ 20.8 ​ 12.1 ​ ​ $ 74.7 ​ $ 40.4 ​

Trade and Other Payables (Table

Trade and Other Payables (Tables)	3 Months Ended
	Mar. 31, 2023
Trade and Other Payables
Schedule of Trade and other liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Trade payables ​ $ 139.1 ​ $ 54.3 Accrued liabilities ​ 217.5 ​ 128.6 Social security and sales taxes payable ​ 47.2 ​ 38.7 Net consumption taxes payable ​ 16.3 ​ 14.5 Share unit liabilities ​ 6.7 ​ 6.3 Book overdrafts ​ ​ 108.9 ​ ​ — Other payables ​ 22.7 ​ 16.3 ​ ​ $ 558.4 ​ $ 258.7 ​

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt
Schedule of Debt	​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying amount ​ ​ March 31, ​ December 31, ​ 2023 2022 Short-term debt ​ $ 23.6 ​ $ 29.1 ​ ​ ​ ​ ​ ​ ​ Long-term debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term loans: ​ ​ ​ DDTL Facility loan denominated in Canadian dollars, secured, bearing interest at a weighted average rate of 5.86%, due in monthly installments of interest and quarterly installments of principal, maturing in September 2026 ​ ​ — ​ ​ 85.5 Term Loan A Facility loan denominated in Canadian dollars, secured, bearing interest at a weighted average rate of 7.69%, due in monthly or quarterly installments of interest, dependent on the loan term and quarterly installments of principal which commenced on March 31, 2023, maturing in September 2026 ("CAD TLA Facility") ​ 84.8 ​ — Term Loan A Facility loan denominated in US dollars, secured, bearing interest at a weighted average rate of 7.54%, due in monthly or quarterly installments of interest, dependent on the loan term and quarterly installments of principal commencing June 30, 2023, maturing in September 2026 ("USD TLA Facility") ​ 1,825.0 ​ — Less: unamortized debt issuance costs ​ (20.5) ​ (0.4) ​ ​ ​ ​ ​ ​ ​ Senior secured and unsecured notes: ​ ​ ​ ​ Senior unsecured notes bearing interest at 5.375% due in semi-annual installments, with the full amount of principal due in January 2025 (the "2016 Notes") ​ — ​ 500.0 Less: unamortized debt issuance costs ​ — ​ (3.6) Senior secured notes bearing interest at 6.75% due in semi-annual installments, with the full amount of principal due in March 2028 (the "2023 Secured Notes") ​ 550.0 ​ — Less: unamortized debt issuance costs ​ ​ (7.7) ​ ​ — Senior unsecured notes bearing interest at 7.75% due in semi-annual installments, with the full amount of principal due in March 2031 (the "2023 Unsecured Notes") ​ 800.0 ​ — Less: unamortized debt issuance costs ​ ​ (11.2) ​ ​ — Total long-term debt ​ 3,220.4 ​ 581.5 ​ ​ ​ ​ ​ ​ ​ Total debt ​ $ 3,244.0 ​ $ 610.6 ​ ​ ​ ​ ​ ​ ​ Long-term debt: ​ ​ Current portion ​ $ 95.7 ​ $ 4.4 Non-current portion ​ 3,124.7 ​ 577.1 Total long-term debt ​ $ 3,220.4 ​ $ 581.5 ​

Other Non-current Liabilities (

Other Non-current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Other Non-current Liabilities
Schedule of other Non-current Liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2023 2022 Tax payable ​ $ 23.3 ​ $ 16.0 Finance lease liability ​ 28.2 ​ 15.3 Other ​ 7.8 ​ 4.1 ​ ​ $ 59.3 ​ $ 35.4

Temporary Equity, Equity and _2

Temporary Equity, Equity and Dividends (Tables)	3 Months Ended
	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of shares issuance activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity-classified awards ​ Liability-classified awards ​ ​ PSUs ​ PSUs with Market Conditions ​ RSUs ​ DSUs ​ ​ ​ ​ WA grant ​ ​ ​ WA grant ​ ​ ​ WA grant ​ ​ ​ ​ WA grant ​ ​ ​ ​ date fair ​ ​ ​ date fair ​ ​ ​ date fair ​ ​ ​ ​ date fair ​ Number value Number value Number value ​ Number value Outstanding, December 31, 2022 662,634 ​ $ 51.71 ​ 102,879 ​ $ 66.08 ​ 68,024 ​ $ 58.32 ​ 108,365 ​ $ 39.35 Granted 10,216 ​ 56.74 ​ — ​ — ​ 1,137 ​ 60.11 ​ 7,094 ​ 53.05 Assumed in IAA acquisition (Note 5) — ​ — ​ — ​ — ​ 366,379 ​ 52.79 ​ — ​ — Vested and settled (283,086) ​ 42.23 ​ — ​ — ​ (23,986) ​ 53.68 ​ — ​ — Forfeited (4,123) ​ 58.93 ​ — ​ — ​ (1,459) ​ 60.95 ​ — ​ — Outstanding at March 31, 2023 385,641 ​ $ 58.72 ​ 102,879 ​ $ 66.08 ​ 410,095 ​ $ 53.65 ​ 115,459 ​ $ 40.19
Schedule of Quarterly Dividends Declared and Paid	The Company declared and paid the following dividends to common stockholders during the three months ended March 31, 2023 and 2022: ​ Common Stock ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividend ​ Total ​ ​ ​ Declaration date ​ per share ​ Record date ​ dividends ​ Payment date ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special Dividend ​ March 6, 2023 ​ $ 1.0800 ​ March 17, 2023 ​ $ 120.4 ​ March 28, 2023 Fourth quarter 2022 ​ January 20, 2023 ​ $ 0.2700 ​ February 10, 2023 ​ $ 30.0 ​ March 3, 2023 Fourth quarter 2021 ​ January 21, 2022 ​ $ 0.2500 ​ February 11, 2022 ​ $ 27.7 ​ March 4, 2022 ​
Shares issued for business combination [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of shares issuance activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rouse ​ SmartEquip ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ​ Common ​ Fair value ​ Common ​ Fair value Common ​ fair value ​ shares ​ per common ​ shares ​ per common shares ​ per common ​ issued shares issued shares issued shares Outstanding, December 31, 2022 85,560 ​ $ 71.09 ​ 42,646 ​ $ 68.39 ​ 128,206 ​ $ 70.19 Granted — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Vested (4,636) ​ ​ 71.09 ​ — ​ ​ — ​ (4,636) ​ ​ 71.09 Forfeited — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Outstanding, March 31, 2023 80,924 ​ $ 71.09 ​ 42,646 ​ $ 68.39 ​ 123,570 ​ $ 70.16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding, December 31, 2021 189,665 ​ $ 71.09 ​ 63,971 ​ $ 68.39 ​ 253,636 ​ $ 70.41 Granted — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Vested — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Forfeited — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — Outstanding, March 31, 2022 189,665 ​ $ 71.09 ​ 63,971 ​ $ 68.39 ​ 253,636 ​ $ 70.41 ​

Share-based Payments (Tables)

Share-based Payments (Tables)	3 Months Ended
	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Costs Related to Share-Based Payments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 2022 Selling, general and administrative: ​ ​ Stock option compensation expense ​ $ 2.6 ​ $ 2.6 Equity-classified share units ​ ​ 3.5 ​ ​ 2.9 Liability-classified share units ​ ​ — ​ ​ (0.8) Employee share purchase plan - employer contributions ​ 0.6 ​ 0.7 ​ ​ ​ 6.7 ​ ​ 5.4 Acquisition-related and integration costs: ​ ​ ​ ​ Acceleration of share-based payments expense ​ ​ 5.0 ​ ​ — Share-based continuing employment costs ​ 1.0 ​ 2.1 ​ ​ 6.0 ​ 2.1 ​ ​ $ 12.7 ​ $ 7.5 ​
Summary of Stock Option Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ Premium-priced stock options ​ ​ ​ ​ ​ ​ WA ​ ​ ​ ​ ​ ​ ​ ​ ​ WA ​ ​ ​ ​ Common ​ WA ​ remaining ​ Aggregate ​ Common ​ WA ​ remaining ​ Aggregate ​ shares under ​ exercise ​ contractual ​ intrinsic ​ shares under ​ exercise ​ contractual ​ intrinsic ​ option price life (in years) value option price life (in years) value Outstanding, December 31, 2022 2,730,295 ​ $ 46.88 ​ ​ 7.3 ​ $ 31.2 ​ 1,118,432 ​ $ 91.26 ​ ​ 4.7 ​ $ — Granted — ​ ​ — ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ — Assumed in IAA acquisition (Note 5) 187,727 ​ ​ 50.96 ​ ​ — ​ ​ 1.7 ​ — ​ ​ — ​ ​ — ​ ​ — Exercised (19,729) ​ ​ 34.01 ​ ​ — ​ ​ 0.5 ​ — ​ ​ — ​ ​ — ​ ​ — Forfeited (52,978) ​ ​ 45.33 ​ — ​ — ​ (38,635) ​ ​ 91.19 ​ — ​ — Outstanding, March 31, 2023 2,845,315 ​ $ 47.26 ​ ​ 6.5 ​ $ 28.7 ​ 1,079,797 ​ $ 91.26 ​ ​ 4.3 ​ $ — Exercisable, March 31, 2023 2,069,936 ​ $ 43.61 ​ ​ 5.8 ​ $ 27.8 ​ — ​ $ — ​ — ​ $ — ​
Summary of Share Unit Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity-classified awards ​ Liability-classified awards ​ ​ PSUs ​ PSUs with Market Conditions ​ RSUs ​ DSUs ​ ​ ​ ​ WA grant ​ ​ ​ WA grant ​ ​ ​ WA grant ​ ​ ​ ​ WA grant ​ ​ ​ ​ date fair ​ ​ ​ date fair ​ ​ ​ date fair ​ ​ ​ ​ date fair ​ Number value Number value Number value ​ Number value Outstanding, December 31, 2022 662,634 ​ $ 51.71 ​ 102,879 ​ $ 66.08 ​ 68,024 ​ $ 58.32 ​ 108,365 ​ $ 39.35 Granted 10,216 ​ 56.74 ​ — ​ — ​ 1,137 ​ 60.11 ​ 7,094 ​ 53.05 Assumed in IAA acquisition (Note 5) — ​ — ​ — ​ — ​ 366,379 ​ 52.79 ​ — ​ — Vested and settled (283,086) ​ 42.23 ​ — ​ — ​ (23,986) ​ 53.68 ​ — ​ — Forfeited (4,123) ​ 58.93 ​ — ​ — ​ (1,459) ​ 60.95 ​ — ​ — Outstanding at March 31, 2023 385,641 ​ $ 58.72 ​ 102,879 ​ $ 66.08 ​ 410,095 ​ $ 53.65 ​ 115,459 ​ $ 40.19
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Significant Assumptions Used to Estimate the Fair Value of Stock Options	​ ​ ​ ​ ​ Three months ended March 31, 2022 Risk free interest rate 2.1 % Expected dividend yield 1.75 % Expected lives of the stock options 4 years Expected volatility 31.7 % ​
IAA | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Significant Assumptions Used to Estimate the Fair Value of Stock Options	​ ​ ​ ​ ​ Three months ended March 31, 2023 Risk free interest rate 3.9 % Expected dividend yield 2.05 % Expected lives of the stock options 2 years Expected volatility 33.3 % ​

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases
Breakdown of Lease Expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2023 ​ 2022 Operating lease cost ​ $ 13.1 ​ $ 4.7 Finance lease cost ​ ​ ​ ​ ​ Amortization of leased assets ​ 5.3 ​ ​ 2.6 Interest on lease liabilities ​ 0.4 ​ ​ 0.2 Short-term lease cost ​ 3.4 ​ ​ 3.5 Sublease income ​ (0.1) ​ ​ — ​ ​ $ 22.1 ​ $ 11.0 ​

General Information (Details)

General Information (Details) - facility	Mar. 20, 2023	Jan. 03, 2023
IAA | Minimum
Business Acquisition, Contingent Consideration [Line Items]
Number of facilities	200
VeriTread
Business Acquisition, Contingent Consideration [Line Items]
Voting equity interests owned including previous interest, percentage		75%

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	Feb. 01, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Reclassification
Reclassification of foreign exchange gain			$ 0.2
Minimum
Reclassification
Term to access vehicle auctions (in years)		1 year
Maximum
Reclassification
Term to access vehicle auctions (in years)		2 years
Series A Senior Preferred Shares [Member]
Reclassification
Issuance of redeemable convertible preferred stock, shares	485,000,000	485,000,000
Operating lease Right of-use assets
Reclassification
Reclassification of assets				$ 122.9
Auction proceeds payable
Reclassification
Reclassification of liabilities				23.3
Operating lease liabilities current
Reclassification
Reclassification of liabilities				12.7
Operating lease liabilities non-current
Reclassification
Reclassification of liabilities				$ 111.9

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) £ in Millions								3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 20, 2023 USD ($)	Jan. 22, 2023 USD ($) shares	Jan. 03, 2023 USD ($) shares	May 04, 2022	Aug. 09, 2021 USD ($)	Aug. 09, 2021 GBP (£)	Mar. 31, 2023 USD ($)
Business Acquisition [Line Items]
Gain on remeasurements of investment upon acquisition								$ 1,400,000
IAA
Business Acquisition [Line Items]
Total purchase price		$ 6,646,200,000
Cash consideration per share			$ 12.80
Shares issued per share | shares			0.5252
Cash consideration		$ 1,714,200,000	$ 1,700,000,000
Common stock consideration (in shares) | shares			70,300,000
Assumption of net debt			$ 1,200,000,000
Fair value measurement period of certain assets and liabilities, maximum		1 year
Acquiree's revenue	$ 80,000,000
Acquiree's net income	$ 2,900,000
Acquisition-related costs								201,200,000
Pre-acquisition transaction costs								$ 50,500,000
Equity award exchange ratio		0.763139
VeriTread
Business Acquisition [Line Items]
Number of shares acquired | shares				1,056,338
Total purchase price				$ 32,400,000
Cash consideration				28,100,000
Cash consideration for additional interest investment				$ 3,000,000
Voting equity interests owned including previous interest, percentage				75%
Prior holdings of issued and outstanding shares, percent				11%
Fair value of previously held interest				$ 4,300,000
Gain on remeasurements of investment upon acquisition				$ 1,400,000
Remaining units ownership interest, percentage				21%
Non-controlling interest classified as equity, percentage				4%
Fair value measurement period of certain assets and liabilities, maximum				1 year
VeriTread | Existing stockholders
Business Acquisition [Line Items]
Number of shares acquired | shares				8,889,766
Cash consideration				$ 25,200,000
Euro Auctions Limited
Business Acquisition [Line Items]
Cash consideration under the terms of the SPA, to be paid on closing						$ 1,020,000,000	£ 775
2021 USD Notes
Business Acquisition [Line Items]
Redemption price percentage					100%
Senior Notes [Member] | IAA
Business Acquisition [Line Items]
Assumption of net debt			$ 500,000,000
Redemption price percentage			102.75%

Business Combinations (Schedule

Business Combinations (Schedule of Consideration Transferred) (Details) - USD ($) $ in Millions	Mar. 20, 2023	Jan. 22, 2023	Jan. 03, 2023
IAA
Business Acquisition [Line Items]
Cash consideration	$ 1,714.2	$ 1,700
Fair value of common shares issued	3,713
Fair value of exchanged IAA equity awards attributable to pre-combination service	13.1
Reimbursement of sell-side acquisition costs	48.8
Repayment of IAA net debt	1,157.1
Total fair value of consideration transferred	$ 6,646.2
VeriTread
Business Acquisition [Line Items]
Cash consideration			$ 28.1
Fair value of previously held interest			4.3
Total fair value of consideration transferred			$ 32.4

Business Combinations (Schedu_2

Business Combinations (Schedule of Purchase Price Allocation) (Details) - USD ($) $ in Millions	Mar. 20, 2023	Jan. 03, 2023	Mar. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill acquired on acquisition			$ 4,769.1	$ 948.8
IAA
Business Acquisition [Line Items]
Purchase price	$ 6,646.2
Cash and cash equivalents	161
Trade and other receivables	498.7
Prepaid consigned vehicle charges	8.7
Inventory	57.6
Other current assets	31.1
Property, plant and equipment	655.7
Operating lease right-of-use assets	1,252.5
Other non-current assets	34.8
Intangible assets	2,340
Auction proceeds payable	60.7
Trade and other liabilities	250.4
Current operating lease liability	78
Long-term operating lease liability	1,166
Other non-current liabilities	23.4
Deferred tax liabilities	604.2
Fair value of identifiable net assets acquired	2,857.4
Goodwill acquired on acquisition	$ 3,788.8
Weighted average amortization period	8 years 7 months 6 days
IAA | Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 2,030
Weighted average amortization period	9 years
IAA | Developed technology
Business Acquisition [Line Items]
Intangible assets	$ 150
Weighted average amortization period	6 years
IAA | Trade names and trademarks
Business Acquisition [Line Items]
Intangible assets	$ 160
Weighted average amortization period	6 years
VeriTread
Business Acquisition [Line Items]
Purchase price		$ 32.4
Cash and cash equivalents		3.4
Trade and other receivables		0.9
Intangible assets		14.7
Trade and other liabilities		1.1
Fair value of identifiable net assets acquired		17.9
Redeemable non-controlling interest		(8.9)
Non-controlling interest		(1.8)
Goodwill acquired on acquisition		$ 25.2
Weighted average amortization period		5 years 10 months 24 days
VeriTread | Customer relationships
Business Acquisition [Line Items]
Intangible assets		$ 7.2
Weighted average amortization period		5 years
VeriTread | Trade names and trademarks
Business Acquisition [Line Items]
Intangible assets		$ 0.4
Weighted average amortization period		2 years
VeriTread | Software and technology assets
Business Acquisition [Line Items]
Intangible assets		$ 7.1
Weighted average amortization period		7 years

Business Combinations (Schedu_3

Business Combinations (Schedule of Pro Forma Results) (Details) - IAA - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Revenue	$ 988	$ 950.7
Net income	$ 91.4	$ 6.4

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Mar. 31, 2023 segment
Segment Information
Number of reportable segments	1
Number of operating segments	1

Segment Information (Geographic

Segment Information (Geographic Information of Revenue and Location) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 512.4	$ 393.9
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	360.1	248
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	68.3	65.2
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	19.1	29.1
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	50.7	37.8
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 14.2	$ 13.8

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue	$ 512.4	$ 393.9
Service revenue
Revenue	343.6	244.9
Commissions
Revenue	130.6	116.4
Buyer fees
Revenue	140.7	75.6
Marketplace services revenue
Revenue	72.3	52.9
Inventory sales revenue
Revenue	$ 168.8	$ 149

Operating Expenses (Schedule of

Operating Expenses (Schedule of Acquisition Related and Integration Costs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Total acquisition-related and integration costs	$ 126.2	$ 9.6
SmartEquip
Total acquisition-related and integration costs	0.3	1.2
Euro Auctions
Total acquisition-related and integration costs		6.6
Rouse
Total acquisition-related and integration costs	0.5	$ 1.8
VeriTread
Total acquisition-related and integration costs	0.2
IAA
Financing	30
Severance	14
Integration	5.1
Acceleration of share-based payments expense	5
Legal	9.5
Investment banking, consulting and other acquisition-related costs	61.6
Total acquisition-related and integration costs	$ 125.2

Operating Expenses (Schedule _2

Operating Expenses (Schedule of Depreciation and Amortization Expenses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Expenses
Depreciation	$ 11.5	$ 7.7
Amortization	24.7	16.5
Total depreciation and amortization expenses	$ 36.2	$ 24.2

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Line Items]
Income tax (benefit) expense	$ (9.3)	$ 36.2
Effective income tax rate	25%	17%
Canada Revenue Agency | Maximum
Income Tax Disclosure [Line Items]
Federal and provincial income tax estimated, exclusive of interest and penalties		$ 30
Canada Revenue Agency | Minimum
Income Tax Disclosure [Line Items]
Federal and provincial income tax estimated, exclusive of interest and penalties	$ 26

Earnings Per Share Attributab_3

Earnings Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share Basic And Diluted [Line Items]
Net (loss) income available to common stockholders	$ (34.2)	$ 178.1
Denominator:
Basic weighted average share outstanding	120,487,251	110,647,700
Diluted average shares outstanding	120,487,251	111,655,861
Net (loss) income per share attributable to common shares:
Basic	$ (0.28)	$ 1.61
Diluted	$ (0.28)	$ 1.60
Share units
Denominator:
Effect of dilutive securities		450,259
Stock options
Denominator:
Effect of dilutive securities		557,902

Earnings Per Share Attributab_4

Earnings Per Share Attributable to Common Stockholders (Schedule of Anti-dilutive Securities) (Details)	3 Months Ended
	Mar. 31, 2023 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	7,947,743
Share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	631,409
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	541,082
Preferred stocks (as converted to common stocks)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	6,775,252

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Schedule of Net Changes In Operating Assets and Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Operating Capital [Abstract]
Trade and other receivables	$ (104.3)	$ (142.3)
Prepaid consigned vehicle charges	(14.2)
Inventory	(46.4)	23.2
Advances against auction contracts	1	(5)
Prepaid expenses and deposits	(6.3)	12.2
Income taxes receivable	(16)	0.4
Auction proceeds payable	118.2	242.2
Trade and other liabilities	38.9	(19.2)
Income taxes payable	(40.8)	19.5
Operating lease obligation	(10.9)	(2.7)
Other	(6)	0.4
Net changes in operating assets and liabilities	$ (86.8)	$ 128.7

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Schedule of Supplemental Cash Flow) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental Cash Flow Information [Abstract]
Interest paid, net of interest capitalized	$ 20.4	$ 19.2
Interest received	6.3	0.5
Net income taxes paid	50.9	4.1
Non-cash purchase of property, plant and equipment under finance lease	4.9	2.5
Non-cash operating right of use assets obtained in exchange for new lease obligations	$ 1.4	$ 4.7

Fair Value Measurement (Details

Fair Value Measurement (Details) - Recurring - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Carrying Amount | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan receivables	$ 23.4	$ 23.4
Forward currency contracts	0.2	0.2
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan receivables	23.3	23.3
Forward currency contracts	0.2	0.2
Senior Unsecured Notes | 7.75% Senior Unsecured Note, Due March 2031 [Member] | Carrying Amount | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	788.8
Senior Unsecured Notes | 7.75% Senior Unsecured Note, Due March 2031 [Member] | Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	835.5
Senior Secured Notes | 6.75% Senior Secured Note, Due March 2028 [Member] | Carrying Amount | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	542.3
Senior Secured Notes | 6.75% Senior Secured Note, Due March 2028 [Member] | Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	565.1
Senior Notes [Member] | 5.375% Senior Unsecured Note, Due January 2025 [Member] | Carrying Amount | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument		496.3
Senior Notes [Member] | 5.375% Senior Unsecured Note, Due January 2025 [Member] | Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument		491.9
Term Loans | Carrying Amount | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	1,889.3	85.2
Term Loans | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	$ 1,909.8	$ 85.5

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Change in fair value of derivatives, net		$ 1.3
Forward Contracts
Derivative [Line Items]
Change in fair value of derivatives, net	$ (0.2)	$ (0.6)

Trade and Other Receivables (De

Trade and Other Receivables (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Activity in the allowance for expected credit losses
Balance at December 31, 2022	$ 3.3
Current period provision	1.5
Write-off charged against the allowance	(0.7)
Balance at March 31, 2023	$ 4.1

Trade and Other Receivables (Sc

Trade and Other Receivables (Schedule of Trade and Other Receivables) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, gross	$ 793.1	$ 186.5
Less: allowance for credit losses	(4.1)	(3.3)
Trade and other receivables, net	789	183.2
Advanced Charges Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, gross	361.6
Trade Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, gross	397.4	143.8
Consumption Taxes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, gross	22.1	31.2
Other Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, gross	$ 12	$ 11.5

Other Current Assets (Narrative

Other Current Assets (Narrative) (Details) $ in Millions, $ in Millions					3 Months Ended
	Mar. 30, 2023 USD ($)	Mar. 30, 2023 CAD ($)	Mar. 17, 2022 USD ($)	Mar. 17, 2022 CAD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Recognized gain on disposition of property, plant and equipment			$ 169.1
Lease term			2 years
Property purchased					$ 23.5	$ 2
Amaranth Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property purchased	$ 17.1	$ 23.1
Bolton, Ontario [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale consideration			$ 165	$ 208.2
Net book value of property plant and equipment			$ 7.1
Lease term			2 years

Other Current Assets (Schedule

Other Current Assets (Schedule of Other Current Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Current Assets
Advances against auction contracts	$ 8	$ 8.9
Assets held for sale		0.3
Prepaid expenses and deposits	74.7	38.9
Derivative financial asset	$ 0.2	$ 0.2
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Current Assets	Other Current Assets
Other Current Assets	$ 82.9	$ 48.3

Other Non-current Assets (Narra

Other Non-current Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Loans receivable	$ 23.4	$ 23.4
Non-current Loans Receivable [Member]
Loans receivable	15.1	15.4
Trade and Other Receivables [Member]
Loans receivable	$ 8.3	$ 8
Financing Receivable [Member] | Minimum
Term of financing lending arrangement	1 year
Financing Receivable [Member] | Maximum
Term of financing lending arrangement	4 years

Other Non-current Assets (Detai

Other Non-current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Non-current Assets
Tax receivable	$ 9.4	$ 9.1
Loans receivable	15.1	15.3
Refundable deposits	24.3
Deferred debt issue costs, non-current	5.1	3.9
Other	20.8	12.1
Other non-current assets	$ 74.7	$ 40.4

Trade and Other Payables (Detai

Trade and Other Payables (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Trade and Other Payables
Trade payables	$ 139.1	$ 54.3
Accrued liabilities	217.5	128.6
Social security and sales taxes payable	47.2	38.7
Net consumption taxes payable	16.3	14.5
Share unit liabilities	6.7	6.3
Book overdrafts	108.9
Other payables	22.7	16.3
Trade and other liabilities	$ 558.4	$ 258.7

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Millions				3 Months Ended
	Mar. 20, 2023	Jan. 22, 2023	May 04, 2022	Mar. 31, 2023	Jun. 30, 2022	Mar. 15, 2023	Dec. 31, 2022	Dec. 21, 2021	Dec. 21, 2016
Debt [Line Items]
Deferred debt issue costs, non-current				$ 5.1			$ 3.9
Issuance cost capitalized				20.3
Acquisition-related costs incurred				0.6
Loss on redemption of 2016 Notes				3.3
Term Loans
Debt [Line Items]
Maximum borrowing capacity	$ 2,700
Unamortized deferred debt issue costs				20.5			$ 0.4
Deferred debt issue costs, non-current				1.4
Debt issuance costs				$ 22.3
Senior Notes [Member] | IAA
Debt [Line Items]
Redemption price percentage		102.75%
Revolving Credit Facility
Debt [Line Items]
Weighted average interest rate				6.50%			5.80%
5.375% Senior Unsecured Note, Due January 2025 [Member] | Senior Unsecured Notes
Debt [Line Items]
Aggregate principal amount									$ 500
Interest rate							5.375%		5.375%
Redemption price percentage	100%
Unamortized deferred debt issue costs							$ 3.6
Maturity date				Jan. 15, 2025
Loss on redemption of 2016 Notes	$ 3.3
4.75% Senior Unsecured Note, Due January 2031 (2021 USD Notes) | Senior Unsecured Notes
Debt [Line Items]
Aggregate principal amount								$ 600
Interest rate								4.75%
4.95% Senior Unsecured Note, Due December 2029 (2021 CAD Notes) | Senior Unsecured Notes
Debt [Line Items]
Aggregate principal amount								$ 425
Interest rate								4.95%
6.75% Senior Secured Note, Due March 2028 [Member] | Senior Secured Notes
Debt [Line Items]
Aggregate principal amount						$ 550
Interest rate				6.75%		6.75%
Unamortized deferred debt issue costs				$ 7.7
7.75% Senior Unsecured Note, Due March 2031 [Member] | Senior Unsecured Notes
Debt [Line Items]
Aggregate principal amount						$ 800
Interest rate				7.75%		7.75%
Unamortized deferred debt issue costs				$ 11.2
2021 Notes | Senior Unsecured Notes
Debt [Line Items]
Redemption price percentage			100%
Loss on redemption of 2016 Notes			$ 4.8
2023 Notes | Senior Notes [Member]
Debt [Line Items]
Deferred debt issue costs, non-current						$ 19
Revolving Credit Facility | Revolving credit facilities, Maturing September 2026 [Member]
Debt [Line Items]
Maximum borrowing capacity				709.4
Revolving Credit Facility | Revolving credit facilities, Maturing October 2023 [Member]
Debt [Line Items]
Available borrowing capacity				5
Revolving Credit Facility | Revolving credit facilities, No Maturity [Member]
Debt [Line Items]
Available borrowing capacity				$ 5
Bridge Loan Facility | Term Loans
Debt [Line Items]
Aggregate principal amount	2.8
Backstop Revolving Facility | Term Loans
Debt [Line Items]
Aggregate principal amount	750
Commitments	88.9
Delayed Draw Term Loan, In Canadian Dollars, Available until September 2026 [Member] | Term Loans
Debt [Line Items]
Weighted average interest rate							5.86%
Annual amortization rate					5%
Aggregate principal amount	$ 115.9
Term Loan A Facility Loan 7.69% Maturing in September 2026 [Member] | Term Loans
Debt [Line Items]
Weighted average interest rate				7.69%
Annual amortization rate	5%
Term Loan A Facility Loan 7.54% Maturing in September 2026 [Member] | Term Loans
Debt [Line Items]
Maximum borrowing capacity	$ 1,900
Weighted average interest rate				7.54%
Aggregate principal amount	$ 1,800
Quarterly instalments as percentage of principal amount outstanding (as percentage)	1.25%
Term Loan A Facility Loan 7.54% Maturing in September 2026 [Member] | Term Loans | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt [Line Items]
Variable interest rate (as percentage)	7.54%

Debt (Summary of Debt) (Details

Debt (Summary of Debt) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 15, 2023	Dec. 31, 2022	Dec. 21, 2016
Debt [Line Items]
Short-term debt	$ 23.6		$ 29.1
Total long-term debt	3,220.4		581.5
Total debt	3,244		610.6
Current portion	95.7		4.4
Non-current portion	3,124.7		577.1
Term Loans
Debt [Line Items]
Less: unamortized debt issue costs	(20.5)		(0.4)
Delayed Draw Term Loan, In Canadian Dollars, Available until September 2026 [Member] | Term Loans
Debt [Line Items]
Long-term Debt			$ 85.5
Weighted average interest rate			5.86%
Term Loan A Facility Loan 7.69% Maturing in September 2026 [Member] | Term Loans
Debt [Line Items]
Long-term Debt	$ 84.8
Weighted average interest rate	7.69%
Term Loan A Facility Loan 7.54% Maturing in September 2026 [Member] | Term Loans
Debt [Line Items]
Long-term Debt	$ 1,825
Weighted average interest rate	7.54%
5.375% Senior Unsecured Note, Due January 2025 [Member] | Senior Unsecured Notes
Debt [Line Items]
Long-term Debt			$ 500
Less: unamortized debt issue costs			$ (3.6)
Interest rate			5.375%	5.375%
Maturity date	Jan. 15, 2025
6.75% Senior Secured Note, Due March 2028 [Member] | Senior Secured Notes
Debt [Line Items]
Long-term Debt	$ 550
Less: unamortized debt issue costs	$ (7.7)
Interest rate	6.75%	6.75%
7.75% Senior Unsecured Note, Due March 2031 [Member] | Senior Unsecured Notes
Debt [Line Items]
Long-term Debt	$ 800
Less: unamortized debt issue costs	$ (11.2)
Interest rate	7.75%	7.75%

Other Non-current Liabilities_2

Other Non-current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Non-current Liabilities
Tax payable	$ 23.3	$ 16
Finance lease liability	$ 28.2	$ 15.3
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total other non-current liabilities	Total other non-current liabilities
Other	$ 7.8	$ 4.1
Total other non-current liabilities	$ 59.3	$ 35.4

Temporary Equity, Equity and _3

Temporary Equity, Equity and Dividends (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions						1 Months Ended	3 Months Ended
	Mar. 20, 2023	Mar. 15, 2023	Feb. 01, 2023	Jan. 22, 2023	Jan. 03, 2023	May 10, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 03, 2023	Dec. 31, 2022
Dividends Payable [Line Items]
Common stock, unlimited shares authorized							Unlimited
Issuance of common stock							$ 15
Preferred Stock, preferential dividends							4.3
Preferred Stock dividends paid		$ 3.1
Dividends accrued and unpaid							1.2
Participating dividends accrued and unpaid									$ 1.8
Gain (Loss) from intra-entity foreign currency transactions							$ 1.3	$ (0.9)
Special Dividend [Member]
Dividends Payable [Line Items]
Dividends declared (USD per share)							$ 1.0800
Securities Purchase Agreement [Member]
Dividends Payable [Line Items]
Initial conversion price			$ 73
Starboard Value LP and certain of its affiliates | Securities Purchase Agreement [Member]
Dividends Payable [Line Items]
Issuance of common stock			$ 15
Shares issued for business combination [Member]
Dividends Payable [Line Items]
Share capital from additional paid-in capital							$ 0.3
Unrecognized share based continuing employment costs							$ 2.4	$ 3.2
Unrecognized share based continuing employment costs, weighted average period for recognition							10 months 24 days
VeriTread
Dividends Payable [Line Items]
Non-controlling interest, percentage					4%
Series A Senior Preferred Shares [Member]
Dividends Payable [Line Items]
Temporary equity, authorized shares							485,000,000
Issuance of redeemable convertible preferred stock							$ 482
Series A Senior Preferred Shares [Member] | Starboard Value LP and certain of its affiliates | Securities Purchase Agreement [Member]
Dividends Payable [Line Items]
Issuance of redeemable convertible preferred stock			$ 485
Initial preferred dividend, percentage			5.50%
Participating dividends			$ 0.27
Increase in preferred dividend rate in fourth anniversary, percentage			7.50%
Spread on variable rate, percentage			6%
Increase in preferred dividend rate in ninth anniversary, percentage			10.50%
Notice term for redemption of preferred shares			45 days
Redemption price, percentage			100%
Subsequent Event
Dividends Payable [Line Items]
Dividends declared (USD per share)						$ 0.27
Dividends payable date						Jun. 20, 2023
Dividends, date of record						May 30, 2023
IAA, Inc [Member]
Dividends Payable [Line Items]
Cash consideration	$ 1,714.2			$ 1,700
VeriTread
Dividends Payable [Line Items]
Prior holdings of issued and outstanding shares, percent					11%
Voting equity interests owned including previous interest, percentage					75%
Cash consideration					$ 28.1
Remaining units ownership interest, percentage					21%

Temporary Equity, Equity and _4

Temporary Equity, Equity and Dividends (Schedule of shares issuance activity) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Common shares issued
Outstanding beginning balance, Shares	128,206	253,636
Granted, Shares
Vested, Shares	(4,636)
Outstanding ending balance, Shares	123,570	253,636
Fair Value of common shares
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 70.19	$ 70.41
Granted, Weighted average grant date fair value (per share)
Vested, Weighted average grant date fair value (per share)	71.09
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 70.16	$ 70.41
SmartEquip
Common shares issued
Outstanding beginning balance, Shares	42,646	63,971
Granted, Shares
Outstanding ending balance, Shares	42,646	63,971
Fair Value of common shares
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 68.39	$ 68.39
Granted, Weighted average grant date fair value (per share)
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 68.39	$ 68.39
Rouse
Common shares issued
Outstanding beginning balance, Shares	85,560	189,665
Granted, Shares
Vested, Shares	(4,636)
Outstanding ending balance, Shares	80,924	189,665
Fair Value of common shares
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 71.09	$ 71.09
Granted, Weighted average grant date fair value (per share)
Vested, Weighted average grant date fair value (per share)	71.09
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 71.09	$ 71.09

Temporary Equity, Equity and _5

Temporary Equity, Equity and Dividends (Schedule of Quarterly Dividends Declared and Paid) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares
Special Dividend [Member]
Dividends Payable [Line Items]
Dividend per share | $ / shares	$ 1.0800
Total dividends | $	$ 120.4
Fourth quarter 2021
Dividends Payable [Line Items]
Dividend per share | $ / shares	$ 0.2500
Total dividends | $	$ 27.7
Fourth Quarter 2022 [Member]
Dividends Payable [Line Items]
Dividend per share | $ / shares	$ 0.2700
Total dividends | $	$ 30

Share-based Payments (Narrative

Share-based Payments (Narrative) (Details)		3 Months Ended		12 Months Ended
	Mar. 20, 2023 USD ($) shares	Mar. 31, 2023 USD ($) plan $ / shares shares	Mar. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense		$ 12,700,000	$ 7,500,000
Granted, Shares | shares
Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans | plan		4
Performance Share Unit Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of shares vested and released		$ 0		$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options assumed in acquisition | shares		187,727
Stock options granted (in shares) | shares		0
Unrecognized compensation costs		$ 4,800,000
Unrecognized compensation costs, period for recognition		1 year 9 months 18 days
Premium Priced Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares) | shares		0
Unrecognized compensation costs		$ 4,600,000
Unrecognized compensation costs, period for recognition		1 year 7 months 6 days
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs		$ 11,200,000
Unrecognized compensation costs, period for recognition		1 year 8 months 12 days
Performance Share Units With Market Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares) | shares		0
Performance period		3 years
Unrecognized compensation costs		$ 3,100,000
Unrecognized compensation costs, period for recognition		1 year 4 months 24 days
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs		$ 5,800,000
Unrecognized compensation costs, period for recognition		1 year 6 months
Deferred Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs		$ 0
Share unit liability		$ 6,700,000		$ 6,300,000
IAA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options assumed in acquisition | shares	187,727
Number of RSUs assumed in acquisition | shares	366,379
Estimated aggregate fair value of converted share-based awards	$ 24,900,000
Share-based payment expense	4,800,000
IAA | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	300,000
IAA | Former executives
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 4,300,000
IAA | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average share price of options assumed | $ / shares		$ 15.52

Share-based Payments (Compensat

Share-based Payments (Compensation Costs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation costs related to share based payments	$ 12.7	$ 7.5
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	2.6	2.6
Equity-classified share units	3.5	2.9
Liability-classified share units		(0.8)
Employee share purchase plan - employer contributions	0.6	0.7
Total compensation costs related to share based payments	6.7	5.4
Acquisition-related Costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Acceleration of share-based payments expense	5
Share based continuing employment costs	1	2.1
Total compensation costs related to share based payments	$ 6	$ 2.1

Share-based Payments (Summary o

Share-based Payments (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding beginning balance, Common shares under option	2,730,295
Granted, Common shares under option	0
Assumed in acquisition, Common shares under option	187,727
Exercised, Common shares under option	(19,729)
Forfeited, Common shares under option	(52,978)
Outstanding ending balance, Common shares under option	2,845,315	2,730,295
Exercisable, Common shares under option	2,069,936
Outstanding beginning balance, Weighted average exercise price (per share)	$ 46.88
Assumed in acquisition, Weighted average exercise price (per share)	50.96
Exercised, Weighted average exercise price (per share)	34.01
Forfeited, Weighted average exercise price (per share)	45.33
Outstanding ending balance, Weighted average exercise price (per share)	47.26	$ 46.88
Exercisable, Weighted average exercise price (per share)	$ 43.61
Outstanding, Weighted average remaining contractual life (in years)	6 years 6 months	7 years 3 months 18 days
Exercisable, Weighted average remaining contractual life (in years)	5 years 9 months 18 days
Outstanding beginning balance, Aggregate intrinsic value	$ 31.2
Assumed in acquisition, Aggregate intrinsic value	1.7
Exercised, Aggregate intrinsic value	0.5
Outstanding ending balance, Aggregate intrinsic value	28.7	$ 31.2
Exercisable, Aggregate intrinsic value	$ 27.8
Premium Priced Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding beginning balance, Common shares under option	1,118,432
Granted, Common shares under option	0
Forfeited, Common shares under option	(38,635)
Outstanding ending balance, Common shares under option	1,079,797	1,118,432
Outstanding beginning balance, Weighted average exercise price (per share)	$ 91.26
Forfeited, Weighted average exercise price (per share)	91.19
Outstanding ending balance, Weighted average exercise price (per share)	$ 91.26	$ 91.26
Outstanding, Weighted average remaining contractual life (in years)	4 years 3 months 18 days	4 years 8 months 12 days

Share-based Payments (Summary_2

Share-based Payments (Summary of Stock Option Pricing Assumptions) (Details) - Stock options	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	3.90%	2.10%
Expected dividend yield	2.05%	1.75%
Expected lives of the stock options	2 years	4 years
Expected volatility	33.30%	31.70%

Share-based Payments (Summary_3

Share-based Payments (Summary of Share Unit Activity) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding beginning balance, Shares	128,206	253,636
Granted, Shares
Vested and settled, Shares	(4,636)
Outstanding ending balance, Shares	123,570	253,636
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 70.19	$ 70.41
Granted, Weighted average grant date fair value (per share)
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 70.16	$ 70.41
Performance Share Units [Member] | Equity Securities [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding beginning balance, Shares	662,634
Granted, Shares	10,216
Vested and settled, Shares	(283,086)
Forfeited, Shares	(4,123)
Outstanding ending balance, Shares	385,641
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 51.71
Granted, Weighted average grant date fair value (per share)	56.74
Vested and settled, Weighted average grant date fair value (per share)	42.23
Forfeited, Weighted average grant date fair value (per share)	58.93
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 58.72
Performance Share Units With Market Conditions [Member] | Equity Securities [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding beginning balance, Shares	102,879
Outstanding ending balance, Shares	102,879
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 66.08
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 66.08
Restricted Share Units [Member] | Equity Securities [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding beginning balance, Shares	68,024
Granted, Shares	1,137
Assumed in acquisition, Shares	366,379
Vested and settled, Shares	(23,986)
Forfeited, Shares	(1,459)
Outstanding ending balance, Shares	410,095
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 58.32
Granted, Weighted average grant date fair value (per share)	60.11
Assumed in acquisition, Weighted average grant date fair value (per share)	52.79
Vested and settled, Weighted average grant date fair value (per share)	53.68
Forfeited, Weighted average grant date fair value (per share)	60.95
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 53.65
Deferred Share Units [Member] | Debt securities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding beginning balance, Shares	108,365
Granted, Shares	7,094
Outstanding ending balance, Shares	115,459
Outstanding beginning balance, Weighted average grant date fair value (per share)	$ 39.35
Granted, Weighted average grant date fair value (per share)	53.05
Outstanding ending balance, Weighted average grant date fair value (per share)	$ 40.19

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions			3 Months Ended
	Sep. 28, 2022	Mar. 17, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jun. 30, 2022
Lessee, Lease, Description [Line Items]
Operating lease fixed term		2 years
Initial lease term		2 years
Renewal term		1 year
Operating lease right-of-use assets			$ 1,369.8		$ 123
Operating lease liability		$ 4.5	1,266.4		$ 111.9
Operating lease, additional leases term		2 years
Property purchased			$ 23.5	$ 2
Bolton Properties Sale Leaseback Transaction [Member]
Lessee, Lease, Description [Line Items]
Operating leases, remaining life			28 months
Operating lease right-of-use assets		$ 16.6
Minimum
Lessee, Lease, Description [Line Items]
Operating leases, remaining life			1 month
Finance leases, remaining life			1 month
Maximum
Lessee, Lease, Description [Line Items]
Operating leases, remaining life			20 years
Finance leases, remaining life			6 years
Maltby auction site
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets						$ 9
Operating lease liability						$ 9
Property purchased	$ 13.5

Leases (Breakdown of Lease Expe

Leases (Breakdown of Lease Expense) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases
Operating lease cost	$ 13.1	$ 4.7
Amortization of leased assets	5.3	2.6
Interest on lease liabilities	0.4	0.2
Short-term lease cost	3.4	3.5
Sublease income	(0.1)
Lease expense	$ 22.1	$ 11

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Contingencies
Assets guaranteed under contract	$ 90.1	$ 31
Percentage of assets expected to be sold	97%	62%