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Segment reporting | 12 Months Ended
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May 31, 2021
Segment Reporting [Abstract] |
Segment reporting |
3 2. | Segment reporting
Information reported to the Chief Operating Decision Maker (“CODM”) for the purpose of resource allocation and assessment of segment performance focuses on the nature of the operations. The Company operates in five segments. 1) cannabis operations, which encompasses the production, distribution and sale of both medical and adult-use cannabis, 2) beverage alcohol operations, which encompasses cultivation, distribution and sale of beverage alcohol products, 3) distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers, 4) wellness products, which encompasses hemp foods and cannabidiol (“CBD”) products and 5) businesses under development which encompass operations in which the Company has not received final licensing or has not commenced commercial sales from operations. Factors considered in determining the operating segments include the Company’s business activities, the management structure directly accountable to the CODM, availability of discrete financial information and strategic priorities within the organizational structure. Operating segments have not been aggregated and no asset information is provided for the segments because the Company’s CODM does not receive asset information by segment on a regular basis. Segment net revenue from external customers:
|  | For the year ended May 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Cannabis business |  | $ | 201,392 |  |  | $ | 129,896 |  |  | $ | 59,876 |
Distribution business |  |  | 277,300 |  |  |  | 275,430 |  |  |  | 119,427 |
Beverage alcohol business |  |  | 28,599 |  |  |  | — |  |  |  | — |
Wellness business |  |  | 5,794 |  |  |  | — |  |  |  | — |
Business under development |  |  | — |  |  |  | — |  |  |  | — |
Total net revenue |  | $ | 513,085 |  |  | $ | 405,326 |  |  | $ | 179,303 |
Channels of Cannabis revenue were as follows:
|  | For the year ended May 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Revenue from medical cannabis products |  | $ | 25,539 |  |  | $ | 28,685 |  |  | $ | 33,017 |
Revenue from adult-use cannabis products |  |  | 222,930 |  |  |  | 112,207 |  |  |  | 30,236 |
Revenue from wholesale cannabis products |  |  | 6,615 |  |  |  | 12,585 |  |  |  | 4,339 |
Revenue from international cannabis products |  |  | 9,250 |  |  |  | — |  |  |  | — |
Less excise tax |  |  | (62,942 | ) |  |  | (23,581 | ) |  |  | (7,716 | )
Total net cannabis revenue |  | $ | 201,392 |  |  | $ | 129,896 |  |  | $ | 59,876 |
Geographic net revenue:
|  | For the year ended May 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
North America |  | $ | 229,120 |  |  | $ | 129,663 |  |  | $ | 59,629 |
EMEA |  |  | 279,062 |  |  |  | 271,291 |  |  |  | 116,578 |
Latin America |  |  | 4,903 |  |  |  | 4,372 |  |  |  | 3,096 |
Total net revenue |  | $ | 513,085 |  |  | $ | 405,326 |  |  | $ | 179,303 |
Geographic capital assets:
|  | May 31, 2021 |  |  | May 31, 2020 |
North America |  |  | 504,575 |  |  | $ | 371,823 |
EMEA |  |  | 140,838 |  |  |  | 44,348 |
Latin America |  |  | 5,285 |  |  |  | 4,535 |
Total capital assets |  | $ | 650,698 |  |  | $ | 420,706 |
Major customers are defined as customers that each individually account for greater than 10% of the Company’s annual revenues. For the years ended May 31, 2021, 2020, and 2019 there were no major customers representing greater than 10% of our annual revenues.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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