On December 15, 2021, the Company entered into an agreement to divest all of its interest in C³ to a European pharmaceutical company headquartered in Germany. C³ develops and manufactures cannabinoid-based pharmaceutical products for distribution in Germany and certain other European countries.

The C³ Divestiture was completed on January 31, 2022, pursuant to which the Company received a cash payment of $128,316 (€88,698), inclusive of cash, working capital and debt adjustments. The Company will also be entitled to an earnout payment of up to €42,600, subject to the achievement of certain milestones by C³.

Following the C³ Divestiture, the Company no longer controls C³and the Company derecognized the assets and liabilities of C³from these consolidated financial statements at their carrying amounts, including $53,541 of goodwill allocated to the C³ reporting unit. The derecognized assets and liabilities on January 31, 2022, were as follows:

Current assets¹	$	44,568
Property, plant and equipment		9,216
Intangible assets		15,548
Goodwill		53,541
Current liabilities		(3,089	)
Deferred income tax liabilities		(6,029	)
Cumulative translation adjustment		19,178
Net assets disposed	$	132,933

Consideration received in cash	$	128,316
Future cash consideration		7,233
Costs to sell		(1,153	)
Total consideration	$	134,396

Gain on disposal of consolidated entity	$	1,463

The gain calculated on the derecognition of C³’s assets and liabilities is the difference between the carrying amounts of the derecognized assets and liabilities, inclusive of any cumulative translation adjustment amounts, and the fair value of consideration received, net of costs to sell.