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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOW FROM OPERATING ACTIVITIES      
Net income (loss) attributable to Verano Holdings Corp. and Subsidiaries $ (117,348,000) $ (269,164,000) $ (57,507,000)
Net income (loss) attributable to Non-controlling interest 0 291,000 2,509,000
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 141,133,000 141,387,000 96,244,000
Right of use amortization 10,493,000 8,938,000 0
Non-cash interest expense 593,000 1,185,000 5,727,000
Non-cash interest income 0 0 (166,000)
Loss on disposal of property, plant and equipment 1,123,000 157,000 1,085,000
Gain on deconsolidation 0 (9,560,000) 0
Gain on previously held equity interest 0 (14,103,000) 0
Loss on impairment of intangibles - goodwill 37,931,000 113,031,000 0
Loss on impairment - license & fixed assets 13,686,000 116,151,000 0
Loss on impairment of investment in associates 6,571,000 0 0
Loss on debt extinguishment 663,000 4,551,000 0
Unrealized (gain) loss on marketable securities (489,000) 1,971,000 0
Contingent consideration compensation 0 0 4,170,000
Decrease in fair value of contingent consideration (3,466,000) (14,669,000) (12,469,000)
Stock based compensation 13,230,000 39,054,000 45,250,000
Other, net 5,784,000 14,084,000 80,711,000
Changes in operating assets and liabilities:      
Accounts receivable (22,675,000) 821,000 (6,673,000)
Inventory 23,887,000 (24,233,000) (59,506,000)
Accounts payable (8,881,000) (7,582,000) 9,920,000
Income tax payable (4,431,000) 96,145,000 109,452,000
Other assets, net 7,120,000 (36,019,000) 3,976,000
Other liabilities, net 4,786,000 (68,089,000) (39,851,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 109,710,000 94,347,000 182,872,000
CASH FLOW FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (36,330,000) (119,174,000) (141,265,000)
Proceeds from disposal of property, plant and equipment 2,180,000 6,249,000 1,894,000
Distributions 0 0 (1,675,000)
Purchases of intangible assets 0 0 (8,374,000)
Purchase of business, net of cash acquired (13,250,000) (114,752,000) (309,815,000)
Proceeds from sale of deconsolidation and investment in associates 0 19,826,000 0
Other, net 0 0 3,403,000
NET CASH USED IN INVESTING ACTIVITIES (47,400,000) (207,851,000) (455,832,000)
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from issuance of debt 79,088,000 497,386,000 224,725,000
Principal repayments of debt (49,868,000) (373,899,000) (10,757,000)
Debt issuance costs paid (1,616,000) (20,806,000) (8,812,000)
Payment of debt extinguishment 0 (3,436,000) 0
Proceeds received from RTO Financing 0 0 75,420,000
Cash received in warrant private placement 0 0 75,100,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 27,604,000 99,245,000 355,676,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 89,914,000 (14,259,000) 82,716,000
Effects of exchange rate fluctuations on cash and cash equivalents (5,000) (8,000) 0
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 84,851,000 99,118,000 16,402,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 174,760,000 84,851,000 99,118,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest paid 23,677,000 48,246,000 18,709,000
Cash paid for taxes 166,634,000 70,666,000 27,962,000
Issuance of shares to relieve liability obligations 2,610,000 0 0
OTHER NON-CASH INVESTING AND FINANCING ACTIVITIES      
Accrued Capital Expenditures 4,916,000 6,008,000 8,512,000
Issuance of shares under business combinations 0 85,232,000 1,148,127,000
Acquisitions      
Tangible and intangible assets acquired, net of cash 227,000 31,841,000 1,638,726,000
Liabilities assumed 1,522,000    
Liabilities assumed   (8,735,000) (354,933,000)
Acquisition Consideration Payable 11,367,000 77,657,000 (1,324,914,000)
Goodwill 134,000 13,989,000 350,936,000
Total $ 13,250,000 $ 114,752,000 $ 309,815,000