Segment Reporting

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Reporting

19. SEGMENT REPORTING

The Company operates in two segments: the cultivation, production and sale of cannabis products to retail stores (consumer packaged goods) and retailing of cannabis to patients and consumers (retail). The below table presents revenues by type for the years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31,
	2020			2019			2018
Revenues, Net of Discounts
Consumer Packaged Goods	$	273,977,174		$	109,930,160		$	25,706,134
Retail		396,371,725			137,809,904			41,994,791
Intersegment Eliminations		(113,776,010	)		(31,307,459	)		(5,207,245	)
Total Revenues, net of discounts	$	556,572,889		$	216,432,605		$	62,493,680
Depreciation and Amortization
Consumer Packaged Goods	$	28,207,195		$	17,792,040		$	2,666,603
Retail		24,298,380			13,690,300			2,461,117
Intersegment Eliminations		—			—			56,260
Total Depreciation and Amortization	$	52,505,575		$	31,482,340		$	5,183,980
Income Taxes
Consumer Packaged Goods	$	33,964,636		$	3,727,292		$	2,245,450
Retail		49,888,166			9,905,876			4,938,145
Intersegment Eliminations		—			(4,289,135	)		—
Total Income Taxes	$	83,852,802		$	9,344,033		$	7,183,595

Goodwill assigned to the Consumer Packaged Goods segment as of December 31, 2020 and December 31, 2019 was $252,016,532 and $255,211,232, respectively. Intangible assets, net assigned to the Consumer Packaged Goods segment as of December 31, 2020 and December 31, 2019 was $211,303,718 and $228,244,254, respectively.

Goodwill assigned to the Retail segment as of December 31, 2020 and December 31, 2019 was $130,680,935 and $119,873,759, respectively. Intangible assets, net assigned to the Retail segment as of December 31, 2020 and December 31, 2019 was $194,938,316 and $207,002,644, respectively.

The Company’s assets are aggregated into two reportable segments (Retail and Consumer Packaged Goods). For the purposes of testing goodwill, Green Thumb has identified 22 reporting units. The Company determined its reporting units by first reviewing the operating segments based on the geographic areas in which Green Thumb conducts business (or each market). The markets were then further divided into reporting units based on the market operations (Retail and Consumer Packaged Goods) which were primarily determined based on the licenses each market holds. All revenues are derived from customers domiciled in the United States and all assets are located in the United States.