VARIABLE INTEREST ENTITIES (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Assets and Liabilities of Company's VIEs

The summarized assets and liabilities of the Company's consolidated VIEs in which the Company does not hold a majority interest are presented in the table below as of December 31 and include third-party assets and liabilities of the Company's VIEs only and exclude intercompany balances that were eliminated in consolidation.


	2024		2023

	(in thousands)
Current assets:
Cash	$	420	$	9,491
Accounts receivable, net	721		1,308
Inventories	901		8,341
Prepaid expenses	160		423
Other current assets	—		7
Total current assets	2,202		19,570
Property and equipment, net	1,228		28,068
Right of use asset - operating, net	—		2,744
Right of use asset - finance, net	—		259
Intangible assets, net	2,028		17,162
Other assets	355		140
Total assets	$	5,813	$	67,943
Current liabilities:
Accounts payable and accrued liabilities	$	371	$	1,939
Income tax payable	—		2,017
Deferred revenue	—		2

Operating lease liability - current portion	—		63
Finance lease liability - current portion	—		60
Total current liabilities	371		4,081
Notes payable	—		885
Operating lease liability	—		2,926
Finance lease liability	—		210
Deferred tax liabilities	—		3,638
Other long-term liabilities	—		671
Total liabilities	$	371	$	12,411

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details