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Investments (Tables) | 12 Months Ended
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Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | Equity Method Investments A reconciliation of the carrying amount of the investments in associates and joint ventures is as follows:
| Ownership interest |  | Carrying Amount
|  | December 31, 2020 |  | December 31, 2019
Cronos Australia(i) | 31% |  | $ | — |  |  | $ | (346) |
Cronos GrowCo(ii) | 50% |  | 19,235 |  |  | 1,501 |
Natuera | 50% |  | — |  |  | (598) |
|  |  | $ | 19,235 |  |  | $ | 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 variable interest entity conclusion. Upon reconsideration, the Company determined that the entity was no longer a variable interest entity as of December 31, 2019 and is now reported under the equity method. (ii)On September 25, 2020, the Company and 2645485 Ontario Inc. (“Mucci”), the other joint venture partner of Cronos GrowCo, agreed to capitalize certain historical advances made by each shareholder to Cronos GrowCo. Total aggregate gross advances to Cronos GrowCo, excluding any amounts advanced by the Company to Cronos GrowCo under the GrowCo Credit Facility, were C$49,300 ($37,010), of which the Company advanced 50% and Mucci advanced the remaining 50% for an amount of C$24,650 ($18,505) each. As a result, the Company transferred the advances of C$24,650 ($18,505) to investments in equity accounted investees in respect of Cronos GrowCo. The Company’s share of net earnings (losses) from equity investments accounted for under the equity method of accounting as of and for the years ended December 31:
| 2020 |  | 2019 |  | 2018
Whistler Medicinal Marijuana Company (“Whistler”)(i) | $ | — |  |  | $ | 29 |  |  | $ | 178 |
Cronos Australia | (363) |  |  | (1,101) |  |  | (588) |
Cronos GrowCo | (1,537) |  |  | (167) |  |  | (100) |
MedMen Canada | — |  |  | 35 |  |  | (213) |
Natuera(ii) | (2,610) |  |  | (805) |  |  | — |
| $ | (4,510) |  |  | $ | (2,009) |  |  | $ | (723) |
(i)Whistler was incorporated in British Columbia, Canada and is a license holder under the Cannabis Act (Canada) with production facilities in British Columbia, Canada. The Company fully divested its investment in Whistler during 2019. See Note 7. (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 8. The following is a summary of financial information for the Company’s equity method investments as of and for the year ended December 31:
| 2020 |  | 2019 |  | 2018
Current assets | $ | 19,126 |  |  | $ | 23,200 |  |  | $ | 7,121 |
Non-current assets | 122,099 |  |  | 76,212 |  |  | 27,129 |
Current liabilities | 24,223 |  |  | 52,796 |  |  | 3,746 |
Non-current liabilities | 76,313 |  |  | 33,189 |  |  | 13,201 |
Revenue | 367 |  |  | 52 |  |  | 5,344 |
Gross profit | (631) |  |  | — |  |  | — |
Net loss | (11,453) |  |  | (2,048) |  |  | (874) |
Schedule of Joint Ventures | Advances to Joint Ventures
| MedMen Canada(i) |  | Cronos GrowCo(ii) |  | Cronos Australia(iii) |  | Natuera |  | Total
As of January 1, 2020 | $ | 471 |  |  | $ | 18,966 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,437 |
Transfer to investments in equity accounted investees(ii) | — |  |  | (18,505) |  |  | — |  |  | — |  |  | (18,505) |
Interest on advances | — |  |  | — |  |  | 37 |  |  | — |  |  | 37 |
Advances to joint ventures recovered from (applied to) carrying amount of investments | — |  |  | — |  |  | (38) |  |  | — |  |  | (38) |
Effect from foreign exchange | (4) |  |  | (461) |  |  | 1 |  |  | — |  |  | (464) |
As of December 31, 2020 | $ | 467 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 467 |
| MedMen Canada(i) |  | Cronos GrowCo(ii) |  | Cronos Australia(iii) |  | Natuera |  | Total
As of January 1, 2019 | $ | 1,244 |  |  | $ | 2,970 |  |  | $ | 475 |  |  | $ | — |  |  | $ | 4,689 |
Advances (repayments) | (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)On September 25, 2020, the Company and Mucci agreed to capitalize historical advances made by each shareholder to Cronos GrowCo. The Company capitalized C$24,650 ($18,505) through a transfer of aggregate gross advances from advances to joint ventures to investments in equity accounted investees in respect of Cronos GrowCo. Refer to footnote (ii) to the first table set forth under Note 6(a). (iii)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.
Schedule of Variable Interest Entities | The following is a summary of the maximum exposure to loss for the year ended December 31, 2020 and 2019:
| Ownership interest |  | Other Net Assets (Liabilities) |  | Maximum Exposure to Loss
Cronos Australia | 31% |  | $ | 8,976 |  |  | $ | 1,530 |
Cronos GrowCo | 50% |  | 109,329 |  |  | 21,125 |
MedMen Canada | 50% |  | — |  |  | 467 |
Natuera | 50% |  | (6,849) |  |  | 8,154 |
Balance as of December 31, 2020 |  |  | $ | 111,456 |  |  | $ | 31,276 |
| Ownership interest |  | Other Net Assets (Liabilities) |  | Maximum Exposure to Loss
Cronos Australia | 31% |  | $ | 10,900 |  |  | $ | 1,355 |
Cronos GrowCo | 50% |  | 3,091 |  |  | 20,700 |
MedMen Canada | 50% |  | (199) |  |  | 642 |
Natuera | 50% |  | (358) |  |  | 4,888 |
Balance as of December 31, 2019 |  |  | $ | 13,434 |  |  | $ | 27,585 |

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