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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Dec. 31, 2022
Summary of Financial Assets and Liabilities Measured at Estimated Fair Value on a Recurring Basis | The following table represents our financial assets and liabilities measured at estimated fair value on a recurring basis:
|  | Fair value measurement using |  |  |  |
|  | Quoted |  |  | Significant |  |  |  |  |  |  |
|  | prices in |  |  | other |  |  | Significant |  |  |  |
|  | active |  |  | observable |  |  | unobservable |  |  |  |
|  | markets |  |  | inputs |  |  | inputs |  |  |  |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 191,119 |  |  | $ | - |  |  | $ | - |  |  | $ | 191,119 |
Restricted short-term investments |  |  | 12,932 |  |  |  | - |  |  |  | - |  |  |  | 12,932 |
Other financial assets |  |  | 251 |  |  |  | - |  |  |  | 508,813 |  |  |  | 509,064 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Unsecured senior notes |  |  | - |  |  |  | 325,555 |  |  |  | - |  |  |  | 325,555 |
Warrant derivative liability |  |  | - |  |  |  | - |  |  |  | 668 |  |  |  | 668 |
Other liabilities |  |  | - |  |  |  | - |  |  |  | 43,102 |  |  |  | 43,102 |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 595,651 |  |  | $ | - |  |  | $ | - |  |  | $ | 595,651 |
Restricted short-term investments |  |  | 12,216 |  |  |  | - |  |  |  | - |  |  |  | 12,216 |
Other financial assets |  |  | 490 |  |  |  | - |  |  |  | 787,816 |  |  |  | 788,306 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Unsecured senior notes |  |  | - |  |  |  | 563,958 |  |  |  | - |  |  |  | 563,958 |
Liability arising from Acreage Arrangement |  |  | - |  |  |  | - |  |  |  | 47,000 |  |  |  | 47,000 |
Warrant derivative liability |  |  | - |  |  |  | - |  |  |  | 26,920 |  |  |  | 26,920 |
Other liabilities |  |  | - |  |  |  | - |  |  |  | 70,066 |  |  |  | 70,066 |
Level 2 |
Summary of Valuation Techniques and Significant Unobservable Inputs in the Fair Value Measurement of Significant Level 2 and Level 3 Financial Instruments | The following table summarizes the valuation techniques and significant unobservable inputs in the fair value measurement of significant level 2 financial instruments:
| Financial asset / financial liability |  | Valuation techniques |  | Key inputs
| Unsecured senior notes |  | Senior note pricing model |  | Quoted prices in over-the-counter broker market
Level 3 |
Summary of Valuation Techniques and Significant Unobservable Inputs in the Fair Value Measurement of Significant Level 2 and Level 3 Financial Instruments | The following table summarizes the valuation techniques and significant unobservable inputs in the fair value measurement of significant level 3 financial instruments:
| Financial asset / financial liability |  | Valuation techniques |  | Significant unobservable inputs |  | Relationship of unobservable inputs to fair value
| Acreage financial instrument |  | Probability weighted expected return model |  | Probability of each scenario |  | Change in probability of occurrence in each scenario will result in a change in fair value
|  |  |  |  | Number of common shares to be issued |  | Increase or decrease in value and number of common shares will result in a decrease or increase in fair value
|  |  |  |  | Probability and timing of US legalization |  | Increase or decrease in probability of US legalization will result in an increase or decrease in fair value
|  |  |  |  | Estimated premium on US legalization |  | Increase or decrease in estimated premium on US legalization will result in an increase or decrease in fair value
|  |  |  |  | Control premium |  | Increase or decrease in estimated control premium will result in an increase or decrease in fair value
|  |  |  |  | Market access premium |  | Increase or decrease in estimated market access premium will result in an increase or decrease in fair value
| TerrAscend Exchangeable Shares, TerrAscend Option |  | Put option pricing model |  | Probability and timing of US legalization |  | Increase or decrease in probability of US legalization will result in an increase or decrease in fair value
| Hempco Debenture |  | Discounted cash flow |  | Discount rate |  | Increase or decrease in discount rate will result in a decrease or increase in fair value
| TerrAscend warrants - December 2022 |  | Black-Sholes option pricing model |  | Probability and timing of US legalization |  | Increase or decrease in probability of US legalization will result in an increase or decrease in fair value
| Wana financial instrument - Call |  | Discounted cash flow |  | Expected future Wana cash flows |  | Increase or decrease in expected future Wana cash flows will result in an increase or decrease in fair value
| Option |  |  |  | Discount rate |  | Increase or decrease in discount rate will result in a decrease or increase in fair value
| Wana financial instrument - Deferred Payments |  | Monte Carlo simulation model |  | Probability and timing of US legalization |  | Increase or decrease in probability of US legalization will result in an increase or decrease in fair value
|  |  |  |  | Volatility of Wana equity |  | Increase or decrease in volatility will result in an increase or decrease in fair value
| Jetty financial instrument - |  | Discounted cash flow |  | Expected future Jetty cash flows |  | Increase or decrease in expected future Jetty cash flows will result in an increase or decrease in fair value
| Call Option |  |  |  | Discount rate |  | Increase or decrease in discount rate will result in a decrease or increase in fair value
| Jetty financial instrument - Deferred |  | Monte Carlo simulation model |  | Probability and timing of US legalization |  | Increase or decrease in probability of US legalization will result in an increase or decrease in fair value
| Payments |  |  |  | Volatility of Jetty equity and revenue |  | Increase or decrease in volatility will result in an increase or decrease in fair value
| Warrant derivative liability |  | Monte Carlo simulation model |  | Volatility of Canopy Growth share price |  | Increase or decrease in volatility will result in an increase or decrease in fair value
| BioSteel redeemable noncontrolling interest |  | Discounted cash flow |  | Discount rate |  | Increase or decrease in discount rate will result in a decrease or increase in fair value
|  |  |  |  | Expected future BioSteel cash flows |  | Increase or decrease in expected future BioSteel cash flows will result in an increase or decrease in fair value
| Vert Mirabel redeemable |  | Discounted cash flow |  | Discount rate |  | Increase or decrease in discount rate will result in a decrease or increase in fair value
| noncontrolling interest |  |  |  | Future wholesale price and production levels |  | Increase or decrease in future wholesale price and production levels will result in an increase or decrease in fair value

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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