XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 25,245 $ 16,838
Restricted cash 3,537 9,567
Accounts receivable, net of allowance for credit losses of $2,672 and $3,023, respectively 100,863 101,639
Inventories 154,682 145,836
Derivative assets 18,357 15,053
Prepaid expenses and other current assets 13,542 9,166
Total current assets 316,226 298,099
Property, plant and equipment, net 240,349 185,206
Goodwill 116,353 113,999
Intangible assets, net 127,022 130,886
Operating lease right-of-use assets 15,172 11,090
Other long-term assets 7,186 6,933
Total Assets 822,308 746,213
LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY (DEFICIT)    
Current maturities of long-term debt 9,293 11,504
Short-term debt 46,190 42,905
Accounts payable 102,083 116,675
Supply chain finance program 29,026  
Derivative liabilities 7,282 7,592
Accrued expenses and other current liabilities 36,084 37,459
Total current liabilities 229,958 216,135
Long-term debt, net 237,769 162,502
Deferred income taxes 17,938 14,355
Warrant liabilities 61,280 55,521
Other long-term liabilities 14,600 11,035
Total liabilities 561,545 459,548
Commitments and contingencies (Note 20)
Shareholders' (Deficit) Equity    
Preferred stock, $0.01 par value, 26,000 shares authorized, no shares issued and outstanding
Common stock, $0.01 par value, 300,000 shares authorized, 75,728 shares and 75,020 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 760 750
Additional paid-in-capital 348,711 342,664
Accumulated deficit (359,194) (328,042)
Accumulated other comprehensive loss (4,539) (6,103)
Total shareholders' (deficit) equity attributable to Westrock Coffee Company (14,262) 9,269
Non-controlling interest   2,460
Total shareholders' (deficit) equity (14,262) 11,729
Total Liabilities, Convertible Preferred Shares and Shareholders' (Deficit) Equity 822,308 746,213
Series A Redeemable Common Equivalent Preferred Shares    
LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY (DEFICIT)    
Redeemable Common Equivalent Preferred Shares $ 275,025 $ 274,936