Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 26,027 $ 26,196
Restricted cash - current 3,128 0
Accounts receivable, net 3,380 4,809
Inventories, net 33,586 35,089
Prepaid expenses and other current assets 15,514 3,957
Total current assets 81,635 70,051
NON-CURRENT ASSETS:    
Property, plant and equipment, net 159,268 177,755
Right-of-use assets - finance leases 63,107 114,021
Other intangible assets, net 95,967 100,082
Goodwill 30,910 38,239
Other non-current assets 30,358 28,243
Restricted cash - non-current 2,150 950
Total non-current assets 381,760 459,290
Total assets 463,395 529,341
CURRENT LIABILITIES:    
Accounts payable 15,383 21,313
Accrued expenses and other current liabilities 44,070 46,329
Income tax payable 5,190 19,921
Debt, net - current portion (including related party principal amounts of $3,298 and $3,189 as of December 31, 2023 and 2022, respectively) 86,514 8,704
Finance lease obligations - current 8,885 11,361
Derivative liabilities - current 2,418 0
Total current liabilities 162,460 107,628
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $19,788 and $17,491 as of December 31, 2023 and 2022, respectively) 126,041 180,558
Finance lease obligations - non-current 52,839 102,375
Derivative liabilities - non-current 220 14,134
Unrecognized tax benefits 100,343 57,200
Other liabilities - non-current 29,111 21,555
Total non-current liabilities 308,554 375,822
Total liabilities 471,014 483,450
COMMITMENTS AND CONTINGENCIES (Note 22)
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 December 31, 2023 and 2022, respectively 0 0
Paid-in capital 503,612 492,020
Accumulated deficit (509,844) (444,742)
Total Jushi shareholders' (deficit) equity (6,232) 47,278
Non-controlling interests (1,387) (1,387)
Total (deficit) equity (7,619) 45,891
Total liabilities and equity $ 463,395 $ 529,341