Note 16 - Non-controlling Interests

6 Months Ended

Nov. 30, 2022

Notes to Financial Statements

Noncontrolling Interest Disclosure [Text Block]

Note 16. Non-controlling interests

The following tables summarize the information relating to the Company’s subsidiaries, SH Acquisition (68%), CC Pharma Nordic ApS (75%), Aphria Diamond (51%), and ColCanna S.A.S. (90%) before intercompany eliminations. 

Summary of balance sheet information of the entities in which there is a non-controlling interest as of November 30, 2022:

	SH		CC Pharma			Aphria			ColCanna			November 30,
	Acquisition		Nordic ApS			Diamond			S.A.S.			2022
Current assets	$	—	$	254		$	24,207		$	152		$	24,613
Non-current assets		106,885		23			142,007			37,914			286,829
Current liabilities		—		(652	)		(10,547	)		(35	)		(11,234	)
Non-current liabilities		—		(397	)		(124,635	)		(6,439	)		(131,471	)
Net assets	$	106,885	$	(772	)	$	31,032		$	31,592		$	168,737

Summary of balance sheet information of the entities there is a non-controlling interest as of May 31, 2022:

	SH		CC Pharma			Aphria			ColCanna			May 31,
	Acquisition		Nordic ApS			Diamond			S.A.S.			2022
Current assets	$	—	$	485		$	20,546		$	193		$	21,224
Non-current assets		111,200		158			152,786			93,891			358,035
Current liabilities		—		(642	)		(63,196	)		(53	)		(63,891	)
Non-current liabilities		—		(410	)		(29,653	)		(6,537	)		(36,600	)
Net assets	$	111,200	$	(409	)	$	80,483		$	87,494		$	278,768

Summary of income statement information of the entities in which there is a non-controlling interest for the six months ended November 30, 2022:

	SH			CC Pharma			Aphria			ColCanna			November 30,
	Acquisition			Nordic ApS			Diamond			S.A.S.			2022
Revenue	$	—		$	108		$	65,437		$	—		$	65,545
Total expenses		(7,006	)		471			39,039			56,265			88,769
Net (loss) income		7,006			(363	)		26,398			(56,265	)		(23,224	)
Other comprehensive (loss) income		(11,321	)		—			(1,590	)		363			(12,548	)
Net comprehensive (loss) income	$	(4,315	)	$	(363	)	$	24,808		$	(55,902	)	$	(35,772	)
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		(1,381	)		(91	)		12,156			(5,590	)		5,094
Additional income attributable to NCI		—			—			6,056			—			6,056
Net comprehensive (loss) income attributable to NCI	$	(1,381	)	$	(91	)	$	18,212		$	(5,590	)	$	11,150

Summary of income statement information of the entities in which there is a non-controlling interest for the six months ended November 30, 2021:

	SH			CC Pharma			Aphria			ColCanna			November 30,
	Acquisition			Nordic ApS			Diamond			S.A.S.			2021
Revenue	$	—		$	136		$	53,101		$	—		$	53,237
Total expenses		—			178			26,367			458			27,003
Net (loss) income		—			(42	)		26,734			(458	)		26,234
Other comprehensive (loss) income		(16,357	)		26			(2,817	)		(4,120	)		(23,268	)
Net comprehensive (loss) income	$	(16,357	)	$	(16	)	$	23,917		$	(4,578	)	$	2,966
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Net comprehensive (loss) income	$	(5,234	)	$	(4	)	$	11,719		$	(458	)	$	6,023