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Variable Interest Entities
 12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities
18.
VARIABLE INTEREST ENTITIES
 
The following table presents the summarized financial information about the Company’s consolidated variable interest entities (“
VIEs
”) which are included in the consolidated balance sheets as of December 31, 2020 and 2019. All of these entities were determined to be VIEs as the Company possesses the power to direct activities through management services agreements (“
MSAs
”):
   
December 31, 2020
   
December 31, 2019
 
   Chesapeake
Alternatives,
LLC		   IL Disp,
LLC		   Other
Non-material

VIEs		   Chesapeake
Alternatives,
LLC		   IL Disp,
LLC		   Other
Non-material

VIEs		 
Current assets
  $32,307,718   $3,738,868   $2,362,572   $19,455,533   $1,381,716   $1,352,935 
Non-current assets
   3,367,360    3,657,392    2,281,839    22,384,663    3,083,659    2,534,297 
Current liabilities
   23,362,255    336,970    1,563,224    14,219,204    149,498    783,682 
Non-current liabilities
   768,573    461,926    783,356    1,169,989    137,736    855,440 
Noncontrolling interests
   —      3,173,683    267,289    350,206    2,089,071    (22,488) 
Equity attributable to Green Thumb Industries Inc.
   11,544,250    3,173,683    2,030,542    6,645,263    2,089,070    2,270,598 
The following table presents the summarized financial information about the Company’s consolidated VIEs which are included in the and statements of operations for the years ended December 31, 2020, 2019 and 2018:
 
  
For the Year Ended
December 31, 2020
  
For the Year Ended

December 31, 2019
  
For the Year Ended

December 31, 2018
 
  Chesapeake
Alternatives,
LLC		  IL Disp,
LLC		  Other
Non-material

VIEs		  Chesapeake
Alternatives,
LLC		  IL
Disp, LLC		  Other
Non-

material
VIEs		  Chesapeake
Alternatives,
LLC		  IL Disp,
LLC		  Other
Non-material

VIEs		 
Revenues
 $19,724,513  $18,693,964  $10,011,729  $16,056,521  $5,857,946  $3,516,164  $13,783,876  $643,898  $4,555,543 
Net income (loss) attributable to noncontrolling interests
  411,162   3,034,612   639,179   —     699,624   (112,245)   1,407,266   60,601   (582,280) 
Net income (loss) attributable to Green Thumb Industries Inc.
  4,576,717   3,034,612   574,941   1,807,229   699,625   (79,402)   —     60,600   (102,037) 
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
Net income (loss)
 $4,987,879  $6,069,224  $1,214,120  $1,807,229  $1,399,249  $(191,647)  $1,407,266  $121,201  $(684,317) 
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
As of December 31, 2020, VIEs included in the Other
Non-material
VIEs are Bluepoint Wellness of Westport LLC and Meshow, LLC. As of December 31, 2019, VIEs included in the Other
Non-material
VIEs are Bluepoint Wellness of Westport, LLC, Meshow, LLC and Ohio Investors 2017, LLC. As of December 31, 2018, VIEs included in the Other
Non-material
VIEs are Meshow, LLC, KW Ventures Holdings, LLC and Ohio Investors 2017, LLC
 
The net change in the consolidated VIEs and Other Noncontrolling Interest are as follows for the years ended December 31, 2020 and 2019:
 
   
Variable Interest Entities
       
   Chesapeake
Alternatives,
LLC		  IL Disp, LLC  Other
Non-material

VIEs		  Other
Noncontrolling
Interests		  Total 
Balance as at January 1, 2019
  $1,486,062  $1,957,147  $89,757  $(35,507)  $3,497,459 
Contributions
   —     —     —     1,650,000   1,650,000 
Distributions
   (1,135,856)   (567,700)   —     (5,812,505)   (7,516,061) 
Net income (loss)
   —     699,624   (112,245)   (1,017,842)   (430,463) 
Changes in ownership
   —     —     —     5,311,978   5,311,978 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
Balance as at December 31, 2019
   350,206   2,089,071   (22,488)   96,124   2,512,913 
Contributions
   —     —     50,000   —     50,000 
Distributions
   (439,098)   (1,950,000)   (399,402)   —     (2,788,500) 
Net income (loss)
   411,162   3,034,612   639,179   —     4,084,953 
Changes in ownership
   (322,270)   —     —     —     (322,270) 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
Balance as at December 31, 2020
  $—    $3,173,683  $267,289  $96,124  $3,537,096 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
On December 31, 2020, the MSA for Chesapeake Alternatives, LLC was amended and restated to make GTI Maryland, LLC, the sole member of the entity. As a result, the remaining equity associated with the noncontrolling interest was closed to share capital of Green Thumb as of December 31, 2020.
During 2019, the Company acquired the noncontrolling interests for Ohio Investors 2017, LLC; KW Ventures Holdings, LLC (Firefly); and GTI New Jersey, LLC. The activity for these entities is included within the Other Noncontrolling Interests column in the above table. See Note 13—Share Capital for additional discussion.