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Investments and Advances to Joint Ventures (Tables) | 6 Months Ended
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Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | Net investment in equity accounted investees A reconciliation of the carrying amount of the investments in associates and joint ventures is as follows:
|  | Carrying Amount |  |
| Ownership % | June 30, 2020 |  | December 31, 2019
Cronos Australia(i) | 31% | $ | — |  |  | $ | (346) |
Cronos GrowCo | 50% | 933 |  |  | 1,501 |
MedMen Canada | 50% | — |  |  | — |
Natuera | 50% | — |  |  | (598) |
|  | $ | 933 |  |  | $ | 557 |
(i) On October 25, 2019, Cronos Australia issued 40 million new shares in an initial public offering at an offering price of A$0.50 per share. The Company’s ownership in Cronos Australia decreased from 50% to 31% on November 7, 2019 when Cronos Australia began trading on the Australian Securities Exchange. This resulted in a reconsideration event, which required the reassessment of the Company’s VIE conclusion. Upon reconsideration, the Company determined that the entity was no longer a VIE as of December 31, 2019 and is now reported under the equity method. The Company’s share of net earnings (losses) from equity investments accounted for under the equity method of accounting:
| For the three months ended June 30, |  |  |  | For the six months ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Whistler Medicinal Marijuana Company (“Whistler”) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 29 |
Cronos Australia(i) | (235) |  |  | (397) |  |  | (235) |  |  | (641) |
Cronos GrowCo | (190) |  |  | (38) |  |  | (501) |  |  | (27) |
MedMen Canada | — |  |  | (2) |  |  | — |  |  | 4 |
Natuera(ii) | (369) |  |  | (304) |  |  | (1,230) |  |  | (304) |
| $ | (794) |  |  | $ | (741) |  |  | $ | (1,966) |  |  | $ | (939) |
(i) The Company’s share of accumulated net losses in excess of its equity investment and advances in Cronos Australia was $512 for the six months ended June 30, 2020 (June 30, 2019 – $nil). (ii) The Company’s share of accumulated net losses in excess of its equity investment in Natuera has been applied as a loss allowance on the loan receivable. See Note 6(b) and Note 10.
Schedule of Advances to Joint Ventures | Advances to Joint Venture
| MedMen Canada(i) |  | Cronos GrowCo |  | Cronos Australia (ii) |  | Natuera |  |  |  | Total
As of January 1, 2020 | $ | 471 |  |  | $ | 18,966 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 19,437 |
Credit loss allowance (iii) | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Effect from foreign exchange | (20) |  |  | (819) |  |  | — |  |  | — |  |  |  |  | (839) |
As of June 30, 2020 | $ | 451 |  |  | $ | 18,147 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 18,598 |
As of January 1, 2019 | $ | 1,244 |  |  | $ | 2,970 |  |  | $ | 475 |  |  | $ | — |  |  |  |  | $ | 4,689 |
Advances (repayment) | (852) |  |  | 15,494 |  |  | 274 |  |  | 219 |  |  |  |  | 15,135 |
Advances to joint ventures recovered from (applied to) carrying amount of investments | 35 |  |  | 22 |  |  | (779) |  |  | (224) |  |  |  |  | (946) |
Effect from foreign exchange | 44 |  |  | 480 |  |  | 30 |  |  | 5 |  |  |  |  | 559 |
As of December 31, 2019 | $ | 471 |  |  | $ | 18,966 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 19,437 |
(i) Advance is unsecured, non-interest bearing, and there are no terms of repayment. (ii) A$1,500 is governed by an unsecured loan bearing interest at a rate of 12% per annum, calculated and compounded daily, in arrears, on the amounts advanced from the date of each advance. The loan is due on January 1, 2022. If the loan is overdue, the outstanding amount bears interest at an additional 2% per annum. (iii) For the three months ended June 30, 2020, a reversal of $917 related to the credit loss allowance for Cronos GrowCo was recorded as the Company assessed its recoverability. As of June 30, 2020, total credit losses were $nil.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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- Definition Tabular disclosure of investments in and advances to affiliates. Does not include the tabular disclosure of the disaggregation of investments in and advances to affiliates across legal entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 + Details
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