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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss from continuing operations $ (216,221) $ (238,955)
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities from continuing operations:    
Depreciation and amortization 233,233 195,880
Share-based compensation 25,696 20,010
Non-cash interest expense 14,064 14,402
Amortization of operating lease right-of-use assets 16,922 16,034
Loss on impairment 54,245 67,076
Gain on modification and extinguishment of debt (257) (2,065)
(Gain) loss on disposal of assets (4,593) 8,541
Gain on investment (6,624) (2,073)
Non-cash adjustments to inventory (4,661) 13,208
Allowance for credit losses (224) 2,050
Deferred taxes (54,663) (29,900)
Other non-cash expenses (income) 2,683 (5,010)
Payment of contingent consideration liability in excess of acquisition-date fair value 0 (2,095)
Changes in assets and liabilities:    
Accounts receivable, net (7,913) (12,221)
Inventories, net 2,990 9,851
Prepaid expenses and other current assets 3,292 (4,048)
Income tax receivable 10,126 12,331
Assets held for sale, net of Liabilities held for sale (131) 3,959
Investments and other assets (752) 4,546
Accounts payable (5,634) 2,230
Accrued expenses and other liabilities 292,662 (13,957)
Income tax payable (174,588) 47,986
Lease liabilities, operating (16,359) (16,536)
Net cash provided by operating activities from continuing operations 163,293 91,244
Net cash used in operating activities from discontinued operations (723) (15,983)
Net cash provided by operating activities 162,570 75,261
Cash flows from investing activities:    
Purchases of property, plant and equipment (93,153) (65,446)
Disposals of property, plant and equipment 1,382 0
Proceeds from sale of entities 8,487 0
Acquisition-related cash payments, net of cash acquired (4,699) (3,630)
Purchases of intangibles (5,000) (4,857)
Purchase of investments (708) 0
Issuance of notes receivable to third parties (3,111) (7,020)
Payments received on notes receivables issued to third parties 628 0
Net cash used in investing activities from continuing operations (96,174) (80,953)
Net cash provided by investing activities from discontinued operations 2,345 2,266
Net cash used in investing activities (93,829) (78,687)
Cash flows from financing activities:    
Proceeds from debt financing 22,017 8,612
Minority interest investment in Curaleaf International 0 4,166
Debt issuance costs (456) 0
Principal payments on finance lease liabilities (9,445) (8,474)
Principal payments on notes payable (49,339) (47,213)
Financing cash flows from sale leaseback financial obligations (5,777) (4,308)
Exercise of stock options 156 48
Payments of deferred consideration (11,250) (27,358)
Payments of contingent consideration 0 (3,964)
Issuance of common shares, net of issuance costs 0 11,497
Net cash used in financing activities from continuing operations (54,094) (66,994)
Net cash used in financing activities from discontinued operations (144) (23)
Net cash used in financing activities (54,238) (67,017)
Net increase (decrease) in cash, cash equivalents and restricted cash 14,503 (70,443)
Cash, cash equivalents and restricted cash, beginning of period 91,818 163,177
Effect of exchange rate differences 905 (916)
Cash, cash equivalents and restricted cash, end of period 107,226 91,818
Non-cash investing & financing activities:    
Purchases of property, plant and equipment included in accounts payable and accrued expenses 15,530 2,262
Issuance of notes in connection with sale of entities 2,300 0
Issuance of SVS in connection with acquisitions 32,117 17,375
Contingent consideration incurred in connection with acquisitions 6,352 0
Deferred consideration incurred in connection with acquisitions 1,218 12,553
Forgiveness of promissory note in connection with acquisition (7,020) 0
Non-cash additions to finance and operating right-of-use assets 14,994 1,362
SVS contributed to Curaleaf, Inc. in connection with the Reorganization 0 1,050
Recategorization of net assets from held-for-sale to held-and-used 0 4,792
Excess redemption value above carrying value 22,746 0
Supplemental disclosure of cash flow information:    
Cash paid for taxes 16,486 100,011
Cash paid for interest $ 96,364 $ 97,936