XML 78 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows (used in) provided by operating activities:      
Net (loss) income attributable to Village Farms International, Inc. shareholders $ (9,079) $ 11,608 $ 2,325
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:      
Depreciation and amortization 12,709 6,825 7,366
Amortization of deferred charges 300 115 76
Share of loss (income) from joint venture (notes 6 and 9) 308 (1,005) (13,777)
Loss on joint venture loans (note 9)   3,791 1,184
Interest expense 2,835 2,056 2,614
Interest income (126) (625) (1,036)
Interest paid on long-term debt (3,306) (1,295) (2,635)
Gain on settlement agreement   (4,681)  
(Gain) loss on disposal of assets 259 922 (13,564)
Gain on acquisition of Pure Sunfarms   (23,631)  
Non-cash lease expense (1,351) (1,150) (1,043)
Other 366    
Interest paid on finance lease   (4)  
Share-based compensation 7,533 6,142 4,714
Deferred income taxes (2,866) (6,462) (5,855)
Changes in non-cash working capital items (note 21) (47,149) 13,072 5,244
Net cash (used in) provided by operating activities (39,567) 5,678 (14,387)
Cash flows used in investing activities:      
Purchases of property, plant and equipment, net of rebate (21,656) (3,419) (2,287)
Purchases of intangibles   (92)  
Advances to joint ventures (20) (177) (14,507)
Proceeds from sale of assets     52
Acquisitions, net (40,685) (34,603)  
Investment in minority interests (1,109) (1,226)  
Investment in joint ventures   (11,713) (96)
Net cash used in investing activities (63,470) (51,230) (16,838)
Cash flows provided by financing activities:      
Proceeds from borrowings 19,669 10,619 4,000
Repayments on borrowings (9,454) (6,292) (7,423)
Proceeds from issuance of common stock 135,000 57,212 35,030
Issuance costs (7,511) (3,293) (338)
Note payable paid to Emerald Health (15,498)    
Proceeds from exercise of stock options 199 425 208
Proceeds from exercise of warrants 18,495    
Share re-purchases (5,000)    
Payments on capital lease obligations (17) (63) (90)
Net cash provided by financing activities 135,883 58,608 31,387
Effect of exchange rate changes on cash and cash equivalents 142 634 (93)
Net increase in cash, cash equivalents and restricted cash 32,988 13,690 69
Cash, cash equivalents and restricted cash, beginning of period 25,679 11,989 11,920
Cash, cash equivalents and restricted cash, end of period 58,667 25,679 11,989
Supplemental disclosure of non-cash activities:      
Shares issued for acquisitions 63,044    
Supplemental cash flow information:      
Income taxes paid $ 1,801 $ 158 $ 904