Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

These financial statements include the accounts of the following entities wholly owned by the Company as of December 31, 2020:

Name of entity	Date of formation	Place of incorporation
Natura Naturals Inc.	May 31, 1985	Canada
Tilray, Inc.	July 8, 2005	United States
Manitoba Harvest USA LLC	February 8, 2010	United States
Tilray Canada, Ltd.	September 6, 2013	Canada
Dorada Ventures, Ltd.	October 18, 2013	Canada
FHF Holdings Ltd.	July 15, 2015	Canada
High Park Farms Ltd.	February 19, 2016	Canada
Tilray Deutschland GmbH	November 3, 2016	Germany
Pardal Holdings, Lda.	April 5, 2017	Portugal
Tilray Portugal Unipessoal, Lda.	April 20, 2017	Portugal
Tilray Australia New Zealand Pty. Ltd.	May 9, 2017	Australia
Tilray Ventures Ltd.	June 6, 2017	Ireland
Manitoba Harvest Japan K.K.	August 29, 2017	Japan
High Park Holdings, Ltd.	February 8, 2018	Canada
Fresh Hemp Foods Ltd.	May 7, 2018	Canada
Natura Naturals Holdings Inc.	May 17, 2018	Canada
National Cannabinoid Clinics Pty Ltd.	September 19, 2018	Australia
Tilray Latin America SpA	November 19, 2018	Chile
Tilray Portugal II, Lda.	December 11, 2018	Portugal
High Park Gardens Inc.	February 7, 2019	Canada
1197879 B.C. Ltd	February 15, 2019	Canada
High Park Shops Inc.	August 15, 2019	Canada
Privateer Evolution, LLC	December 12, 2019	United States
Tilray France SAS	July 2, 2020	France
High Park Holdings B.V.	July 15, 2020	Netherlands
High Park Botanicals B.V.	July 17, 2020	Netherlands

Schedule of Inventory Valuation Adjustments Included in Cost of Sales

Inventory valuation adjustments were previously disclosed as a separate component of cost of sales on the Company’s Consolidated Statements of Net Loss and Comprehensive Loss. As of December 31, 2020, these amounts are included under the caption of cost of sales.

	Year Ended December 31,
	2019		2018
Inventory valuation adjustment no longer disclosed separately from cost of sales	$	68,583	$	4,561

Summary of Reclassifications of Stock-Based Compensation Expenses

Stock-based compensation expenses was previously presented as a separate line item in the Company’s Consolidated Statements of Net Loss and Comprehensive Loss. As of December 31, 2020, the Company includes its stock-based compensation expense under the respective caption in financial statements where compensation paid to the same employees is recorded. These reclassifications are summarized as follows:

	Year Ended December 31,
	2019		2018
General and administrative expenses	$	26,499	$	18,926
Sales and marketing expenses		2,729		462
Research and development expenses		2,614		1,600

The Consolidated Statements of Net Loss and Comprehensive Loss for the years ended December 31, 2019 and 2018 were reclassified to conform to the current period’s presentation. Loss on disposal of property and equipment, formerly presented in other expenses (income) is now presented in general and administrative expenses.

Summary of Estimated Useful Lives of Definite Life Intangible Assets

Amortization of definite life intangible assets is calculated on a straight-line basis over the estimated useful lives of the assets as follows:


Patents		4 years
Customer relationships		14 to 16 years
Developed technology		10 years
Websites		3 years
Definite life trademarks and licenses		Term of agreements