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Repurposing Charges

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Repurposing Charges

Repurposing Charges

During the year ended December 31, 2019, the Company commenced initiatives to better align its evolving business and its strategy. Certain facilities at the Peace Naturals campus were repurposed from cultivation activities to provide for the following activities: additional R&D activities focused on new technologies for value-added product manufacturing; production and manufacturing of derivative products; and increased vault and warehousing capabilities.

The activities associated with the repurposing were completed as of December 31, 2019. The following table presents information associated with this plan:

			Year ended December 31, 2019
Employee termination benefits			$	889
Impairment costs associated with plan			4,439
			$	5,328

During the year ended December 31, 2019, an inventory write-down associated with the repurposing cost of $1,940 was included as part of inventory write-down on the consolidated statements of net income (loss) and comprehensive income (loss). The Company did not incur any further significant costs related to the repurposing activities.

No repurposing costs were incurred during the years ended December 31, 2020 or December 31, 2018.

As of December 31, 2020, there was no accrued liability associated with the Company’s repurposing initiative (December 31, 2019 - $907). All repurposing related charges were incurred within the Rest of World segment.

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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