Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2017

Supplemental Cash Flow Information [Abstract]

10. Supplemental cash flow information



Three months ended March 31,		2017		2016
Trade and other receivables		(58,839)		(67,653)
Inventory		7,813		30,476
Advances against auction contracts		(1,806)		1,048
Prepaid expenses and deposits		4,010		278
Income taxes receivable		(1,910)		(6,097)
Auction proceeds payable		178,655		184,437
Trade and other payables		(11,402)		4,113
Income taxes payable		(4,052)		(12,305)
Share unit liabilities		(408)		(2,358)
Other		(16)		(5,545)
Net changes in operating
assets and liabilities	$	112,045	$	126,394



Three months ended March 31,		2017		2016
Interest paid, net of interest capitalized	$	7,622	$	1,393
Interest received		956		498
Net income taxes paid		14,756		27,172

Non-cash transactions:
Non-cash purchase of property, plant
and equipment under capital lease		207		361



		March 31,		December 31,
		2017		2016
Cash and cash equivalents	$	236,894	$	207,867
Restricted cash:
Current		137,986		50,222
Non-current		500,000		500,000
Cash, cash equivalents, and restricted cash	$	874,880	$	758,089

On December 21, 2016, the Company completed the offering of $500,000,000 aggregate principal amount of 5.375% senior unsecured notes due January 15, 2025 (note 18). Upon the closing of the offering, the gross proceeds from the offering were deposited in to an Escrow account. The funds will be held in escrow until the completion of the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which the Company will acquire IronPlanet (note 21).

10. Supplemental cash flow information (continued)

In the fourth quarter of 2016, Company early adopted ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash, which requires that the change in the total of cash, cash equivalents, and restricted cash during a reporting period be explained in the Statement of Cash Flows (“SCF”). Therefore, the Company has included its restricted cash balances when reconciling the total beginning and end of period amounts shown on the face of the SCF. The effect of this change is detailed below.



Three months ended March 31,		2016
Net changes in operating assets and liabilities:
As reported	$	94,733
Current presentation		126,394
Net cash provided by (used in) operating activities:
As reported		134,014
Current presentation		165,675
Effect of changes in foreign currency rates on cash:
As reported		8,938
Current presentation		12,123
Increase (decrease) in cash:
As reported		83,926
Current presentation		118,772
Cash and cash equivalents		294,074
Total cash, cash equivalents and restricted cash		412,018