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Leases

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

7 LEASES

The Company leases a parcel of land in Marfa, Texas where one of its greenhouses resides, as well as two distribution centers located in Fort Worth, Texas and Surrey, British Columbia. The Company leases production-related equipment at its greenhouses in Texas and British Columbia. The Company also leases an office building located in Lake Mary, Florida for its corporate headquarters, and office and manufacturing space in Denver, Colorado for BHB’s headquarters and operations.  

The components of lease related expenses are as follows:

		Three months ended September 30,								Nine months ended September 30,
		2021				2020				2021				2020
Operating lease expense (a)		$	757			$	533			$	2,020			$	1,649
Finance lease expense:
Amortization of right-of-use assets		$	4			$	12			$	21			$	51
Interest on lease liabilities			—				1				1				3
Total finance lease expense		$	4			$	13			$	22			$	54

             ^(a) Includes short-term lease costs of $194 and $275 for the three months ended September 30, 2021 and 2020, respectively, and $497 and $315 for the nine months ended September 30, 2021 and 2020, respectively.  

Cash paid for amounts included in the measurement of lease liabilities:

		Three months ended September 30,								Nine months ended September 30,
		2021				2020				2021				2020
Operating cash flows from operating leases		$	122			$	308			$	376			$	935
Operating cash flows from finance leases		$	-			$	1			$	1			$	3
Finance cash flows from finance leases		$	227			$	12			$	537			$	51

		September 30, 2021
Weighted average remaining lease term:
Operating leases			6.5
Finance leases			0.9
Weighted average discount rate:
Operating leases		8.43%
Finance leases		6.25%

Maturities of lease liabilities are as follows:

		Operating leases				Finance leases
Remainder of 2021		$	583			$	5
2022			2,137				9
2023			1,900				—
2024			1,386				—
2025			1,145				—
Thereafter			4,348				—
Undiscounted lease cash flow commitments			11,499				14
Reconciling impact from discounting			(3,411	)			(2	)
Lease liabilities on consolidated statement of financial position as of September 30, 2021		$	8,088			$	12

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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