Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 26,784 $ 26,196
Restricted cash - current 3,128 0
Accounts receivable, net 5,323 4,809
Inventory, net 40,780 35,089
Prepaid expenses and other current assets 14,274 3,957
Total current assets 90,289 70,051
NON-CURRENT ASSETS:    
Property, plant and equipment, net 169,825 177,755
Right-of-use assets - finance leases 65,245 114,021
Other intangible assets, net 98,471 100,082
Goodwill 38,239 38,239
Other assets 37,271 28,243
Restricted cash - non-current 2,150 950
Total non-current assets 411,201 459,290
Total assets 501,490 529,341
CURRENT LIABILITIES:    
Accounts payable 21,608 21,313
Accrued expenses and other current liabilities 49,857 46,329
Income tax payable 32,575 19,921
Debt, net - current portion (including related party principal amounts of $3,254 and $3,189 as of June 30, 2023 and December 31, 2022, respectively) 14,791 8,704
Finance lease obligations - current 8,786 11,361
Total current liabilities 127,617 107,628
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $18,526 and $17,491 as of June 30, 2023 and December 31, 2022, respectively) 198,641 180,558
Finance lease obligations - non-current 52,699 102,375
Derivative liabilities 3,107 14,134
Income tax liabilities - non-current 60,492 57,200
Other liabilities - non-current 31,454 21,555
Total non-current liabilities 346,393 375,822
Total liabilities 474,010 483,450
COMMITMENTS AND CONTINGENCIES (Note 18)
EQUITY:    
Common stock, no par value: authorized shares - unlimited; issued and outstanding shares - 196,633,371 and 196,686,372 Subordinate Voting Shares as of June 30, 2023 and December 31, 2022, respectively. 0 0
Paid-in capital 500,085 492,020
Accumulated deficit (471,218) (444,742)
Total Jushi shareholders' equity 28,867 47,278
Non-controlling interests (1,387) (1,387)
Total equity 27,480 45,891
Total liabilities and equity $ 501,490 $ 529,341