SEGMENTS

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENTS

16. SEGMENTS

The Company conducts and manages its business through two reportable segments, representing the major lines of the cannabis business: Cultivation (Wholesale) and Retail. The cultivation (wholesale) segment consists of the cultivation, production and sale of cannabis products to retail stores. The retail segment consists of the retailing of cannabis to patients and consumers. Summarized financial information for these segments is as follows:

	Year Ended December 31,
	2022		2021		2020
			(As Restated)
Revenue, net of discounts
Cultivation (Wholesale)	$	276,281	$	226,858	$	156,223
Retail	721,279		582,472		88,470
Intersegment Eliminations	(118,148)		(71,480)		(16,163)
Total revenue, net of discounts	$	879,412	$	737,850	$	228,530
Depreciation and amortization
Cultivation (Wholesale)	$	78,120	$	54,460	$	8,256
Retail	63,267		41,784		2,278
Total depreciation and amortization	$	141,387	$	96,244	$	10,534
Income taxes
Cultivation (Wholesale)	$	52,147	$	58,601	$	21,989
Retail	53,323		45,387		20,307
Total income taxes	$	105,470	$	103,988	$	42,296
Net income (loss)
Cultivation (Wholesale)	$	(105,135)	$	53,191	$	69,706
Retail	(164,029)		(110,698)		(31,305)
Total net income (loss)	$	(269,164)	$	(57,507)	$	38,401

	As of December 31,
	2022		2021
			(As Restated)
Assets
Cultivation (Wholesale)	$	1,135,257	$	1,278,308
Retail	1,260,798		1,270,347
Total assets	$	2,396,055	$	2,548,655
Liabilities
Cultivation (Wholesale)	$	234,687	$	230,217
Retail	819,818		836,632
Total liabilities	$	1,054,505	$	1,066,849

For the year ended December 31, 2021, the Company identified and corrected an incorrect tabular allocation of revenue and discounts on revenue between the retail and cultivation segments in the previously disclosed table above.

The Company’s assets are aggregated into two reportable segments (Retail and Cultivation). For the purposes of testing goodwill, the Company has identified 13 reporting units. The Company determined its reporting units by first reviewing the operating segments based on the geographic areas in which the Company conducts business (or each market). The markets were then further divided into reporting units based on the market operations (retail and cultivation) which were primarily determined based on the licenses each market holds. Substantially, all revenues are derived from customers domiciled in the United States and substantially all assets are located in the United States.