Leases

12 Months Ended

Dec. 31, 2020

The Company has entered into leases primarily for the land-use rights, office premises and equipment used in the production of cannabis, U.S. hemp and related products. The Company’s leases have terms which range from three years to six years, excluding land use rights, which generally extend to 15 years. These leases often include options to extend the term of the lease for up to 10 years. When it is reasonably certain that the option will be exercised, the impact of the option is included in the lease term for purposes of determining total future lease payments.

Operating leases greater than one year are included in right-of-use assets and operating lease liabilities. Finance leases are included in property, plant and equipment on the Company’s consolidated balance sheet.

The Company’s finance leases were not material for any of the periods presented.


	As of December 31,
	2020			2019
Lease cost
Operating lease cost	$	2,479		$	760
Short-term lease cost	60			373
Total lease cost	$	2,539		$	1,133

Weighted-average remaining lease term – operating leases	6			5
Weighted-average discount rate – operating leases	8.86		%	12.00		%