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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss attributable to Verano Holdings Corp. and Subsidiaries $ (69,153) $ (40,140)
Net Income Attributable to Non-Controlling Interest 0 78
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 108,150 105,559
Right of use assets amortization 9,466 7,831
Loss on disposal of property, plant and equipment 747 555
Loss on debt extinguishment 3,068 663
Loss on impairment of investment in associates 0 6,571
Decrease in fair value of contingent consideration 0 (3,466)
Stock based compensation 13,034 8,979
Other, net 8,368 3,862
Changes in operating assets and liabilities:    
Accounts receivable, net (8,277) (17,098)
Inventory (18,310) 14,123
Accounts payable (1,167) (8,375)
Income tax payable 36,523 (1,900)
Other assets, net 7,894 7,073
Other liabilities, net (21,649) (6,954)
NET CASH PROVIDED BY OPERATING ACTIVITIES 68,694 77,361
CASH FLOW FROM INVESTING ACTIVITIES    
Acquisition of business, net of cash acquired (35,875) 0
Purchases of property, plant and equipment (84,803) (26,503)
Proceeds from disposal of assets 52 2,180
Other investing activities (226) 0
NET CASH USED IN INVESTING ACTIVITIES (120,852) (24,323)
CASH FLOW FROM FINANCING ACTIVITIES    
Payment of deferred acquisition price payable (32) (13,250)
Proceeds from issuance of debt 0 50,949
Principal repayments of debt (56,466) (44,582)
Debt issuance costs paid 0 (1,081)
Payment of debt extinguishment (1,000) 0
Other financing activities (137) 0
NET CASH USED IN FINANCING ACTIVITIES (57,635) (7,964)
NET CHANGE IN CASH AND CASH EQUIVALENTS (109,793) 45,074
Effects of exchange rate fluctuations on cash and cash equivalents 14 (4)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 174,760 84,851
CASH AND CASH EQUIVALENTS, END OF PERIOD 64,981 129,921
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid, net 39,838 44,492
Issuance of shares to relieve liability obligations, net 0 2,610
NONCASH INVESTING AND FINANCING ACTIVITIES    
Issuance of debt for acquisition of business 26,700 0
Issuance of shares under business combinations $ 34,453 $ 0