Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 25,011 $ 26,196
Restricted cash - current 3,308 0
Accounts receivable, net 6,063 4,809
Inventory, net 37,699 35,089
Prepaid expenses and other current assets 16,178 3,957
Total current assets 88,259 70,051
NON-CURRENT ASSETS:    
Property, plant and equipment, net 163,681 177,755
Right-of-use assets - finance leases 64,492 114,021
Other intangible assets, net 97,621 100,082
Goodwill 38,239 38,239
Other assets 34,231 28,243
Restricted cash - non-current 2,150 950
Total non-current assets 400,414 459,290
Total assets 488,673 529,341
CURRENT LIABILITIES:    
Accounts payable 20,359 21,313
Accrued expenses and other current liabilities 47,407 46,329
Income tax payable 4,134 19,921
Debt, net - current portion (including related party principal amounts of $3,162 and $3,189 as of September 30, 2023 and December 31, 2022, respectively) 35,620 8,704
Finance lease obligations - current 8,740 11,361
Total current liabilities 116,260 107,628
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $18,283 and $17,491 as of September 30, 2023 and December 31, 2022, respectively) 176,471 180,558
Finance lease obligations - non-current 52,899 102,375
Derivative liabilities 10,567 14,134
Unrecognized tax benefits 98,948 57,200
Other liabilities - non-current 25,696 21,555
Total non-current liabilities 364,581 375,822
Total liabilities 480,841 483,450
COMMITMENTS AND CONTINGENCIES (Note 18)
EQUITY:    
Common stock, no par value: authorized shares - unlimited; issued and outstanding shares - 196,631,598 and 196,686,372 Subordinate Voting Shares as of September 30, 2023 and December 31, 2022, respectively. 0 0
Paid-in capital 501,059 492,020
Accumulated deficit (491,840) (444,742)
Total Jushi shareholders' equity 9,219 47,278
Non-controlling interests (1,387) (1,387)
Total equity 7,832 45,891
Total liabilities and equity $ 488,673 $ 529,341