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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOW FROM OPERATING ACTIVITIES    
Net income attributable to Green Thumb Industries Inc. $ 33,051 $ 63,205
Net income attributable to non-controlling interest 851 1,360
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 73,363 71,706
Amortization of operating lease assets 35,996 31,906
Loss on disposal of property and equipment 2,815 1,514
Impairment of long-lived property and equipment 285 0
Loss on equity method investment 952 2,382
Gain from lease modification 87 (3,330)
Stock based compensation 20,835 19,362
Decrease in fair value of investments 153 2,770
Increase (decrease) in fair value of contingent consideration 3,370 (29,005)
Decrease in fair value of warrants (934) (19,876)
Shares issued for settlement of business obligation 0 1,000
Gain on indemnification of deferred shares associated with post acquisition costs (2,784) 0
Amortization of debt discount 7,128 6,837
Changes in operating assets and liabilities:    
Accounts receivable, net (7,673) (8,691)
Inventories, net (2,870) (26,038)
Prepaid expenses and other current assets (1,129) (2,419)
Deposits and other assets 536 (22)
Accounts payable 4,084 (259)
Accrued liabilities 4,052 (4,021)
Operating lease liabilities (32,114) (27,599)
Income tax receivable and payable, net 13,818 7,438
NET CASH PROVIDED BY OPERATING ACTIVITIES 153,872 88,220
CASH FLOW FROM INVESTING ACTIVITIES    
Purchases of property and equipment (183,594) (119,870)
Proceeds from disposal of property and equipment 319 112
Investments in securities and associates (4,500) (5,804)
Proceeds from equity investments and notes receivable 331 3,476
Settlement of acquisition consideration payable 0 (31,732)
Purchase of businesses, net of cash acquired 0 (7,350)
NET CASH USED IN INVESTING ACTIVITIES (187,444) (161,168)
CASH FLOW FROM FINANCING ACTIVITIES    
Distributions to limited liability company unit holders (803) (14,799)
Contributions from unconsolidated subsidiaries 0 550
Repurchase of Subordinate Voting Shares (24,890) 0
Proceeds from exercise of options and RSUs 2,683 2,684
Proceeds from issuance of notes payable 16,654 2,102
Principal repayment of notes payable (912) (751)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (7,268) (10,214)
CASH, CASH EQUIVALENTS:    
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (40,840) (83,162)
CASH, CASH EQUIVALENTS BEGINNING OF PERIOD 177,682 230,420
CASH, CASH EQUIVALENTS END OF PERIOD 136,842 147,258
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 15,564 13,699
NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued capital expenditures (10,115) (10,217)
Noncash increase in right of use asset (5,599) (72,714)
Noncash increase in lease liability 5,599 72,714
Mortgages associated with operating properties 0 7,350
Shares issued for purchase of noncontrolling interest 0 2,379
Issuance of shares associated with contingent consideration 12,524 13,111
Deferred share distributions (20,454) 0
Issuance of shares under business combinations 0 1,406
Inventory 0 413
Accounts receivable 0 (153)
Prepaid assets 0 72
Property and equipment 0 738
Right of use assets 0 743
Identifiable intangible assets 0 10,359
Goodwill 0 11,736
Deposits and other assets 0 12
Liabilities assumed 0 (712)
Lease liabilities 0 (743)
Noncontrolling interests 0 17,735
Contingent liabilities 0 (200)
Equity interests issued 0 (3,785)
Fair value of previously held equity interest 0 (14,500)
Deferred income taxes 0 991
Settlement of noncontrolling interests 0 (15,356)
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed), Total 0 7,350
Decrease in fair value of investments 153 16,889
Increase in fair value of equity method investments 0 (14,119)
TOTAL DECREASE IN FAIR VALUE OF INVESTMENTS $ 153 $ 2,770