Assets Held For Sale

12 Months Ended

Dec. 31, 2015

Assets Held For Sale [Abstract]

Assets Held For Sale

16.Assets held for sale

Balance, December 31, 2012	$	958
Reclassified from property, plant and equipment		2,839
Disposal		(958)
Balance, December 31, 2013	$	2,839
Reclassified from property, plant and equipment		1,636
Disposal		(2,803)
Other		(4)
Balance, December 31, 2014	$	1,668
Reclassified from property, plant and equipment		2,719
Site preparation costs		1,079
Disposal		(4,624)
Foreign exchange movement		(213)
Balance, December 31, 2015	$	629

As at December 31, 2015, the Company’s assets held for sale consisted of land located in Denver, United States, and Orlando, United States, representing excess auction site acreage. Management made the strategic decision to sell this excess acreage to maximize the Company’s return on invested capital. As at December 31, 2015, the properties are being actively marketed for sale through an independent real estate broker, and management expects the sales to be completed within 12 months of that date. These land assets belong to the Core Auction reportable segment.

During the year ended December 31, 2015, the Company sold property located in Edmonton, Canada and London, Canada, recognizing a net gain on disposition of property, plant and equipment of $8,485,000 on the consolidated income statement (2014: $3,386,000 gain related to the sale of property in Grande Prairie, Canada; 2013: $10,342,000gain related to the sale of property in Fort Worth, United States, Grande Prairie, Canada, and Prince Rupert, Canada).