Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT AND RIGHT OF USE ASSETS

v3.23.1
PROPERTY AND EQUIPMENT AND RIGHT OF USE ASSETS
 12 Months Ended
Dec. 31, 2022
PROPERTY AND EQUIPMENT AND RIGHT OF USE ASSETS  
Property And Equipment And Right Of Use Assets 6. PROPERTY AND EQUIPMENT AND RIGHT OF USE ASSETS

 

A reconciliation of the beginning and ending balances of property and equipment, right of use assets and accumulated depreciation during the years ended December 31, 2022 and 2021, and property and equipment, net and right of use assets, net as of for the same years are as follows:

 

 

 

Land and

 

 

Leasehold

 

 

Furniture

 

 

 

 

 

 

 

 

Construction

 

 

Right of

 

 

 

 

(in thousands)

 

Buildings

 

 

Improvements

 

 

and Fixtures

 

 

Equipment

 

 

Vehicles

 

 

in Process

 

 

Use Assets

 

 

Total

 

Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance-December 31, 2020

 

 $ -

 

 

 $ 10,799

 

 

 $ 50

 

 

 $ 1,276

 

 

 $ 854

 

 

 $ 2,528

 

 

 $ 41,530

 

 

 $ 57,037

 

Additions

 

 

 -

 

 

 

 81

 

 

 

 -

 

 

 

 770

 

 

 

 67

 

 

 

 2,091

 

 

 

 -

 

 

 

 3,010

 

Business Acquisitions

 

 

 15,538

 

 

 

 -

 

 

 

 -

 

 

 

 468

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 16,006

 

Disposals and Transfers

 

 

 369

 

 

 

 3,069

 

 

 

 -

 

 

 

 478

 

 

 

 -

 

 

 

 (3,916 )

 

 

 -

 

 

 

 (0 )

Balance-December 31, 2021

 

 $ 15,907

 

 

 $ 13,949

 

 

 $ 50

 

 

 $ 2,992

 

 

 $ 921

 

 

 $ 704

 

 

 $ 41,530

 

 

 $ 76,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance-December 31, 2020

 

 $ -

 

 

 $ (634 )

 

 $ (47 )

 

 $ (427 )

 

 $ (411 )

 

 $ -

 

 

 $ (5,692 )

 

 $ (7,211 )

Depreciation

 

 

 (132 )

 

 

 (346 )

 

 

 (1 )

 

 

 (191 )

 

 

 (155 )

 

 

 -

 

 

 

 (3,238 )

 

 

 (4,063 )

Disposals

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

Balance-December 31, 2021

 

 $ (132 )

 

 $ (980 )

 

 $ (48 )

 

 $ (618 )

 

 $ (566 )

 

 $ -

 

 

 $ (8,930 )

 

 $ (11,274 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value-December 31, 2021

 

 $ 15,775

 

 

 $ 12,970

 

 

 $ 2

 

 

 $ 2,374

 

 

 $ 355

 

 

 $ 704

 

 

 $ 32,600

 

 

 $ 64,779

 

 

 

 

Land and

 

 

Leasehold

 

 

Furniture

 

 

 

 

 

 

 

 

Construction

 

 

Right of

 

 

 

 

(in thousands)

 

Buildings

 

 

Improvements

 

 

and Fixtures

 

 

Equipment

 

 

Vehicles

 

 

in Process

 

 

Use Assets

 

 

Total

 

Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance-December 31, 2021

 

 $ 15,907

 

 

 $ 13,949

 

 

 $ 50

 

 

 $ 2,992

 

 

 $ 921

 

 

 $ 704

 

 

 $ 41,530

 

 

 $ 76,053

 

Additions

 

 

 -

 

 

 

 269

 

 

 

 -

 

 

 

 3,415

 

 

 

 -

 

 

 

 565

 

 

 

 -

 

 

 

 4,249

 

Disposals

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 (177 )

 

 

 (29 )

 

 

 (122 )

 

 

 (328 )

Transfers

 

 

 (188 )

 

 

 1,209

 

 

 

 

 

 

 

 98

 

 

 

 86

 

 

 

 (1,205 )

 

 

 -

 

 

 

 -

 

Impairments

 

 

 -

 

 

 

 (2,991 )

 

 

 -

 

 

 

 (6 )

 

 

 -

 

 

 

 -

 

 

 

 (4,327 )

 

 

 (7,324 )

Balance-December 31, 2022

 

 $ 15,719

 

 

 $ 12,437

 

 

 $ 50

 

 

 $ 6,499

 

 

 $ 830

 

 

 $ 35

 

 

 $ 37,081

 

 

 $ 72,650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance-December 31, 2021

 

 $ (132 )

 

 $ (980 )

 

 $ (48 )

 

 $ (618 )

 

 $ (566 )

 

 $ -

 

 

 $ (8,930 )

 

 

 (11,274 )

Depreciation

 

 

 (183 )

 

 

 (2,085 )

 

 

 (1 )

 

 

 (880 )

 

 

 (118 )

 

 

 -

 

 

 

 (3,755 )

 

 

 (7,022 )

Disposals

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 132

 

 

 

 -

 

 

 

 76

 

 

 

 208

 

Transfers

 

 

 -

 

 

 

 56

 

 

 

 -

 

 

 

 -

 

 

 

 (56 )

 

 

 -

 

 

 

 -

 

 

 

 -

 

Impairments

 

 

 -

 

 

 

 1,194

 

 

 

 -

 

 

 

 -

 

 

 

 

 

 

 

 -

 

 

 

 2,890

 

 

 

 4,084

 

Balance-December 31, 2022

 

 $ (315 )

 

 $ (1,815 )

 

 $ (49 )

 

 $ (1,498 )

 

 $ (608 )

 

 $ -

 

 

 $ (9,719 )

 

 $ (14,004 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value-December 31, 2022

 

 $ 15,404

 

 

 $ 10,621

 

 

 $ 1

 

 

 $ 5,001

 

 

 $ 222

 

 

 $ 35

 

 

 $ 27,362

 

 

 $ 58,646

 

 

Construction in process represents assets under construction related to cultivation, manufacturing, and distribution facilities not yet completed or otherwise not placed in service.

 

Depreciation expense of $7,022, and $4,063, were recorded for the years ended December 31, 2022 and 2021 respectively, of which $6,292 and $2,336, respectively, were included in cost of goods sold. Depreciation expense of $608 and $587 was also recorded in other expense for the years ended December 31, 2022 and 2021, respectively.