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Segment reporting | 12 Months Ended
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May 31, 2022
Segment Reporting [Abstract] |
Segment reporting |
30. | 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 four segments. 1) cannabis operations, which encompasses the production, distribution and sale of both medical and adult-use cannabis, 2) beverage alcohol operations, which encompasses the production, marketing and sale of beverage alcohol products, 3) distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers, and 4) wellness products, which encompasses hemp foods and cannabidiol (“CBD”) products. This structure is in line with how our Chief Operating Decision Maker (“CODM”) assesses our performance and allocates resources. 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. While the Company reported “business under development” as a fifth segment in its previous Annual Report, management determined that this no longer met the definition of a reporting segment. Segment gross profit from external customers:
|  | For the year ended May 31, |
Cannabis |  | 2022 |  |  | 2021 |  |  | 2020 |
Net revenue |  | $ | 237,522 |  |  | $ | 201,392 |  |  | $ | 129,896 |
Cost of goods sold |  |  | 194,834 |  |  |  | 130,511 |  |  |  | 68,551 |
Gross profit |  |  | 42,688 |  |  |  | 70,881 |  |  |  | 61,345 |
Distribution |  |  |  |  |  |  |  |  |  |  |  |
Net revenue |  | $ | 259,747 |  |  | $ | 277,300 |  |  | $ | 275,430 |
Cost of goods sold |  |  | 243,231 |  |  |  | 242,472 |  |  |  | 240,722 |
Gross profit |  |  | 16,516 |  |  |  | 34,828 |  |  |  | 34,708 |
Beverage alcohol |  |  |  |  |  |  |  |  |  |  |  |
Net revenue |  |  | 71,492 |  |  |  | 28,599 |  |  |  | — |
Cost of goods sold |  |  | 32,033 |  |  |  | 12,687 |  |  |  | — |
Gross profit |  |  | 39,459 |  |  |  | 15,912 |  |  |  | — |
Wellness |  |  |  |  |  |  |  |  |  |  |  |
Net revenue |  |  | 59,611 |  |  |  | 5,794 |  |  |  | — |
Cost of goods sold |  |  | 41,457 |  |  |  | 4,233 |  |  |  | — |
Gross profit |  |  | 18,154 |  |  |  | 1,561 |  |  |  | — |
Channels of cannabis revenue were as follows:
|  | For the year ended May 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Revenue from Canadian medical cannabis products |  | $ | 30,599 |  |  | $ | 25,539 |  |  | $ | 28,685 |
Revenue from Canadian adult-use cannabis products |  |  | 209,501 |  |  |  | 222,930 |  |  |  | 112,207 |
Revenue from wholesale cannabis products |  |  | 6,904 |  |  |  | 6,615 |  |  |  | 12,585 |
Revenue from international cannabis products |  |  | 53,887 |  |  |  | 9,250 |  |  |  | — |
Less excise taxes |  |  | (63,369 | ) |  |  | (62,942 | ) |  |  | (23,581 | )
Total |  | $ | 237,522 |  |  | $ | 201,392 |  |  | $ | 129,896 |
Geographic net revenue:
|  | For the year ended May 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
North America |  | $ | 314,132 |  |  | $ | 229,120 |  |  | $ | 129,663 |
EMEA |  |  | 296,911 |  |  |  | 279,062 |  |  |  | 271,291 |
Rest of World |  |  | 17,329 |  |  |  | 4,903 |  |  |  | 4,372 |
Total |  | $ | 628,372 |  |  | $ | 513,085 |  |  | $ | 405,326 |
Geographic capital assets:
|  | May 31, 2022 |  |  | May 31, 2021 |
North America |  | $ | 464,370 |  |  | $ | 504,575 |
EMEA |  |  | 119,409 |  |  |  | 140,838 |
Rest of World |  |  | 3,720 |  |  |  | 5,285 |
Total |  | $ | 587,499 |  |  | $ | 650,698 |
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, 2022, 2021, and 2020 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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