Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 26,196 $ 94,962
Accounts receivable, net 4,809 3,200
Inventories, net 35,089 43,319
Prepaid expenses and other current assets 3,957 12,875
Total current assets 70,051 154,356
NON-CURRENT ASSETS:    
Property, plant and equipment, net 177,755 137,280
Right-of use assets - finance leases 114,021 94,008
Other intangible assets, net 100,082 192,466
Goodwill 38,239 45,828
Other non-current assets 28,243 27,586
Restricted cash 950 525
Total non-current assets 459,290 497,693
Total assets 529,341 652,049
CURRENT LIABILITIES:    
Accounts payable 21,313 10,539
Accrued expenses and other current liabilities 46,329 47,972
Income tax payable 19,921 6,614
Debt, net - current portion (including related party principal amounts of $3,189 and $3,384 as of December 31, 2022 and 2021, respectively) 8,704 6,181
Finance lease obligations - current 11,361 12,620
Total current liabilities 107,628 83,926
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $17,491 and $1,194 as of December 31, 2022 and 2021, respectively) 180,558 119,798
Finance lease obligations - non-current 102,375 88,297
Derivative liabilities 14,134 92,435
Income tax liabilities - non-current 57,200 60,051
Other liabilities - non-current 21,555 26,559
Total non-current liabilities 375,822 387,140
Total liabilities 483,450 471,066
COMMITMENTS AND CONTINGENCIES (Note 22)
EQUITY:    
Common stock, no par value; authorized shares - unlimited; issued and outstanding shares - 196,686,372 and 182,707,359 Subordinate Voting Shares as of December 31, 2022 and 2021, respectively 0 0
Paid-in capital 492,020 424,788
Accumulated deficit (444,742) (242,418)
Total Jushi shareholders' equity 47,278 182,370
Non-controlling interests (1,387) (1,387)
Total equity 45,891 180,983
Total liabilities and equity $ 529,341 $ 652,049