RB GLOBAL INC.
For the period ended Mar 31, 2025. Filed May 7, 2025.
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Mar 31, 2025 · Filed May 7, 2025
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Fair Value Measurement
Note 10. Fair Value Measurement
The following table summarizes the fair values and carrying amounts of the Company's financial instruments that are required to be recorded or disclosed at fair value on a recurring basis:
| March 31, 2025 · December 31, 2024 | |||||
|---|---|---|---|---|---|
| Category | Carryingamount | Fair value | Carryingamount | Fair value | |
| Loans receivable | Level 2 | $75.0 | $75.1 | $53.6 | $53.3 |
| Contingent consideration liability | Level 3 | 4.9 | 4.9 | 4.8 | 4.8 |
| Long-term debt | |||||
| Secured Notes | Level 1 | 545.2 | 561.0 | 544.8 | 563.8 |
| Unsecured Notes | Level 1 | 791.3 | 837.0 | 790.9 | 837.5 |
| Term loans | Level 2 | 1,290.2 | 1,296.3 | 1,290.5 | 1,297.5 |
The fair value of loans receivable with a maturity date greater than one year are determined by estimating discounted cash flows using market rates. The fair value of the contingent consideration liability, which relates to IAA's acquisition of Marisat, Inc. in 2021, is determined using certain unobservable inputs, including the likelihood of the achievement of volume targets. The fair values of the Secured Notes and Unsecured Notes are determined by reference to a quoted market price traded in an over-the-counter broker market. 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 are short-term in nature.
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