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Acquisition | 9 Months Ended
--- | ---
Dec. 31, 2022
Business Combinations [Abstract] |
Acquisition | 27. ACQUISITION The following table summarizes the consolidated balance sheet impact at acquisition of the Company's business combination that occurred in the nine months ended December 31, 2022:
|  | Verona |
|  | Manufacturing |
|  | Facility |
Property, plant and equipment |  | $ | 28,771 |
Debt and other liabilities |  |  | (2,373 | )
Net assets acquired |  | $ | 26,398 |
Consideration paid in cash |  | $ | 24,223 |
Other consideration |  |  | 2,175 |
Total consideration |  | $ | 26,398 |
Consideration paid in cash |  | $ | 24,223 |
Less: Cash and cash equivalents acquired |  |  | - |
Net cash outflow |  | $ | 24,223 |
The table above summarizes the fair value of the consideration given and the fair values assigned to the assets acquired and liabilities assumed for the acquisition completed in the nine months ended December 31, 2022. Acquisition of Verona Manufacturing Facility On November 8, 2022, the Company, through its affiliate BioSteel, completed the acquisition (the "Verona Acquisition") of a manufacturing facility located in Verona, Virginia (the "Verona Facility") from Flow Beverage Corp. ("Flow"), one of BioSteel's contract manufacturers. Consideration was $26,398 (US$19,477), consisting of cash paid of $15,685 (US$11,573) and $8,538 (US$6,299) related to the repayment of debt and the retirement of certain lease obligations, and $2,175 (US$1,605) in remediation and indemnity holdbacks to be retained by the Company and paid within one year of the closing of the Verona Acquisition. BioSteel and Flow have also entered into a co-manufacturing agreement whereby, in addition to the production of BioSteel-branded sports hydration beverages, BioSteel will produce Flow's portfolio of branded water at the Verona Facility. Due to the timing of the Verona Acquisition, the purchase price allocation for the Verona Acquisition is provisional. The fair value assigned to the consideration paid and net assets acquired is based on management's best estimate using the information currently available and may be revised by the Company as additional information is received.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4946-128472 + Details
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