RB GLOBAL INC.RBA

RB GLOBAL INC. Fair Value Disclosure

10-KFiled Feb 25, 20261 min read
Note 11. Fair Value Measurement
The following table presents 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:
December 31, 2025December 31, 2024
CategoryCarrying
amount		Fair valueCarrying
amount		Fair value
Loans receivableLevel 2$79.7 $80.8 $53.6 $53.3 
Revolving Facility loansLevel 2137.5 137.5 27.7 27.7 
TLA Facility loansLevel 2995.3 999.3 1,290.5 1,297.5 
Senior Secured NotesLevel 1546.4 561.7 544.8 563.8 
Senior Unsecured NotesLevel 1792.4 837.0 790.9 837.5 
The fair values of loans receivable are estimated using an income approach based on discounted cash flows utilizing current market interest rates. The fair values of the Revolving Facility loans and the TLA Facility loans, prior to the deduction of deferred debt issuance costs, approximate their carrying values due to their variable, market-based interest rates. The fair values of the Senior Secured Notes and Senior Unsecured Notes are determined based on quoted prices in an over-the-counter market.
The fair value of derivative financial instruments was not material at December 31, 2025 or December 31, 2024. The total gross notional amount of forward foreign currency contracts outstanding as at December 31, 2025 is $59.6 million (2024: $48.1 million).

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 26, 2025
2023Feb 28, 2024
2022Feb 21, 2023
2021Feb 17, 2022
2020Feb 18, 2021
2019Feb 27, 2020
2018Feb 28, 2019
2017Feb 26, 2018
2016Feb 21, 2017
2015Feb 25, 2016

About Fair Value Disclosures

Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.

Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.

Other Available Disclosures

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