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Note 6 - Capital Assets - USD ($)
$ in Thousands
 12 Months Ended
May 31, 2024
May 31, 2023
May 31, 2022
Income Statement [Abstract]      
Asset Impairment Charges $ 0 $ 934,001 $ 378,241
Notes to Financial Statements      
Property, Plant and Equipment Disclosure [Text Block]

6.

Capital assets

 

Capital asset consisted of the following:

 

  

May 31,

  

May 31,

 
  

2024

  

2023

 

Land

 $45,577  $30,635 

Production facility

  369,630   344,627 

Equipment

  258,532   185,422 

Leasehold improvement

  19,377   7,753 

Finance lease, right-of-use assets

  43,993   — 

Construction in progress

  10,713   8,048 
  $747,822  $576,485 

Less: accumulated amortization

  (189,575)  (146,818)

Total

 $558,247  $429,667 

 

The Company performs ongoing assessments whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. During the year ended May 31, 2024, there were no indicators that an asset group was not recoverable and as a result there were $nil impairments during the year ended May 31, 2024. During the year ended  May 31, 2023, the Company recorded non-cash impairments of  $81,500 on its production facility in Canada and $22,500 on its equipment.

 

Assets held for sale consisted of the following:

 

  

May 31,

  

May 31,

 
  

2024

  

2023

 

Land

 $954  $— 

Production facility

  24,682   — 

Equipment

  6,438   — 
  $32,074  $— 

 

On  June 22, 2023, the Company acquired HEXO and recognized the Kirkland lake property as held for sale on the acquisition date, see Note 9 (Business combinations). The property was sold during the fiscal year ended  May 31, 2024.

 

During the year ended May 31, 2024, the Company classified the following assets from its Cannabis reporting segment, which includes its Quebec cultivation facility, the Fort Collins warehouse facility, and Broken Coast's former Duncan cultivation facility as held for sale. Through the assessment of facility capacity utilization, it was determined that these facilities would be exited and held for sale. It is expected that the sale of these assets will be completed within twelve months from the period they were classified as held for sale.