Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.2.2
PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2022
PROPERTY AND EQUIPMENT  
Property And Equipment

6. PROPERTY AND EQUIPMENT

 

A reconciliation of the beginning and ending balances of property and equipment and accumulated depreciation during the six months ended June 30, 2022 and property and equipment, net as of December 31, 2021, are as follows:

 

 

 

Land and

 

 

Leasehold

 

 

Furniture

 

 

 

 

 

 

Construction

 

 

Right of

 

 

 

(in thousands)

 

Buildings

 

 

Improvements

 

 

and Fixtures

 

 

Equipment

 

 

Vehicles

 

 

in Process

 

 

Use Assets

 

 

Total

 

Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance-December 31, 2021

 

 $ 15,907

 

 

 $ 13,950

 

 

 $ 50

 

 

 $ 2,992

 

 

 $ 921

 

 

 $ 703

 

 

 $ 41,530

 

 

 $ 76,053

 

Additions

 

 

 -

 

 

 

 136

 

 

 

 -

 

 

 

 459

 

 

 

 -

 

 

 

 435

 

 

 

 -

 

 

 

 1,030

 

Business Acquisitions

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

-

 

 

 

 -

 

 

 

 -

 

Disposals and Transfers

 

 

 (188 )

 

 

 899

 

 

 

-

 

 

 

 (182 )

 

 

 (21 )

 

 

 (508 )

 

 

 -

 

 

 

 -

 

Balance - June 30, 2022

 

 $ 15,719

 

 

 $ 14,985

 

 

 $ 50

 

 

 $ 3,269

 

 

 $ 900

 

 

 $ 630

 

 

 $ 41,530

 

 

 $ 77,083

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance - December 31, 2021

 

 $ (132 )

 

 $ (980 )

 

 $ (48 )

 

 $ (618 )

 

 $ (566 )

 

 $ -

 

 

 $ (8,930 )

 

 $ (11,274 )

Depreciation

 

 

 (84 )

 

 

 (1,209 )

 

 

 (1 )

 

 

 (245 )

 

 

 (74 )

 

 

 -

 

 

 

 (1,657 )

 

 

 (3,270 )

Disposals and other

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 (13 )

 

 

 -

 

 

 

 -

 

 

 

 (13 )

Balance - June 30, 2022

 

 $ (216 )

 

 $ (2,189 )

 

 $ (49 )

 

 $ (863 )

 

 $ (653 )

 

 $ -

 

 

 $ (10,587 )

 

 $ (14,557 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value - June 30, 2022

 

 $ 15,503

 

 

 $ 12,796

 

 

 $ 1

 

 

 $ 2,406

 

 

 $ 247

 

 

 $ 630

 

 

 $ 30,943

 

 

 $ 62,526

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value - December 31, 2021

 

 $ 15,775

 

 

 $ 12,970

 

 

 $ 2

 

 

 $ 2,374

 

 

 $ 355

 

 

 $ 703

 

 

 $ 32,600

 

 

 $ 64,779

 

 

Construction in process represent assets under construction related to cultivation, manufacturing, and distribution facilities not yet completed or otherwise not placed in service.

 

Depreciation expense of $1,841 and $946 were recorded for the three months ended June 30, 2022 and 2021, respectively, of which $1,456 and $584 respectively, were included in cost of goods sold. Depreciation expense of $171 and $195 was also recorded in other income (expense) for the three months ended June 30, 2022 and 2021, respectively.

 

Depreciation expense of $3,270 and $1,844 were recorded for the six months ended June 30, 2022 and 2021, respectively, of which $2,888 and $1,168 respectively, were included in cost of goods sold. Depreciation expense of $314 and $195 was also recorded in other income (expense) for the six months ended June 30, 2022 and 2021, respectively.