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Goodwill and intangible assets (Tables)
 12 Months Ended
Dec. 31, 2020
Goodwill and intangible assets  
Schedule of identifiable intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

2020

 

 

Balance

 

 

 

Purchase

 

 

 

 

 

Transferred

 

 

 

Balance

 

 

at

 

 

 

price

 

 

 

Impairment

 

to assets

 

Year-to-date

 

at

 

   

December 31,

   

Acquisitions

   

adjustments

   

Disposals

   

Charge

   

held for sale

   

amortization

   

December 31, 

Licenses

 

$

182,969

 

$

559,250

 

$

(505)

 

$

(1,095)

 

$

(23,659)

 

$

(19,690)

 

$

(34,778)

 

$

662,492

Trade names

 

 

1,921

 

 

49,180

 

 

767

 

 

(29)

 

 

 —

 

 

(600)

 

 

(3,419)

 

 

47,820

Service agreements

 

 

 —

 

 

69,370

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(5,775)

 

 

63,595

Non-compete agreements

 

 

745

 

 

24,240

 

 

(45)

 

 

 —

 

 

 —

 

 

 —

 

 

(1,446)

 

 

23,494

Total intangible assets, net

 

$

185,635

 

$

702,040

 

$

217

 

$

(1,124)

 

$

(23,659)

 

$

(20,290)

 

$

(45,418)

 

$

797,401

 

Schedule of changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill for the cannabis operations segment were as follows:

 

 

 

 

 

    

Total

Balance at December 31, 2019

 

$

69,326

Purchase price adjustments

 

 

76

Acquisition of Cura (Note 4)

 

 

113,252

Acquisition of Remedy (Note 4)

 

 

909

Acquisition of MEOT (Note 4)

 

 

561

Acquisition of Curaleaf NJ (Note 4)

 

 

22,863

Acquisition of Grassroots (Note 4)

 

 

257,023

Acquisition of ATG (Note 4)

 

 

19,072

Disposals (Note 8)

 

 

(1,748)

Transferred to assets held for sale (Note 7)

 

 

(11,190)

Balance at December 31, 2020

 

$

470,144

 

Schedule of key assumptions used in calculating the recoverable amount for each CGU grouping tested for impairment

Key assumptions used in calculating the recoverable amount for each CGU grouping tested for impairment as of December 31, 2020 is outlined in the following table:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grassroots

 

Select

 

New Jersey

 

Nevada

 

Arizona

 

Connecticut

 

Florida

 

Massachusetts

 

 

 

CGU

 

CGU

 

CGU

 

CGU

 

CGU

 

CGU

 

CGU

 

CGU

Terminal Value Growth Rate

 

 

 
3.0%

 

 
3.0%

 

 
3.0%

 

 
3.0%

 

 
3.0%

 

 
3.0%

 

 
3.0%

 

 
3.0%

Discount Rate

 

 

 
14.0%

 

 
13.0%

 

 
19.0%

 

 
15.0%

 

 
19.0%

 

 
18.0%

 

 
18.0%

 

 
19.0%

Recoverable Amount

 

 

$

607,958

 

$

367,590

 

$

187,617

 

$

76,931

 

$

338,205

 

$

118,630

 

$

343,470

 

$

165,376

Carrying Amount of Goodwill

 

 

$

245,833

 

$

113,252

 

$

22,863

 

$

19,589

 

$

15,547

 

$

14,302

 

$

13,410

 

$

4,517