XML 25 R6.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOW FROM OPERATING ACTIVITIES      
Net loss attributable to Verano Holdings Corp. and Subsidiaries $ (341,859,000) $ (117,348,000) $ (269,164,000)
Net income attributable to non-controlling interest 0 0 291,000
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 139,664,000 141,133,000 141,387,000
Right of use assets amortization 11,199,000 10,493,000 8,938,000
Loss on disposal of property, plant and equipment 1,095,000 1,123,000 157,000
Gain on deconsolidation 0 0 (9,560,000)
Gain on previously held equity interest 0 0 (14,103,000)
Loss on debt extinguishment 3,068,000 663,000 4,551,000
Loss on impairment of intangibles - goodwill 8,179,000 37,931,000 113,031,000
Loss on impairment of intangibles & fixed assets 319,520,000 13,686,000 116,151,000
Loss on impairment of investment in associates 0 6,571,000 0
Decrease in fair value of contingent consideration 0 (3,466,000) (14,669,000)
Stock based compensation 16,946,000 13,230,000 39,054,000
Other, net 15,671,000 5,888,000 17,240,000
Changes in assets and liabilities:      
Accounts receivable, net (2,746,000) (22,675,000) 821,000
Inventory (15,890,000) 23,887,000 (24,233,000)
Accounts payable (4,182,000) (8,881,000) (7,582,000)
Income tax payable (189,989,000) (4,431,000) 96,145,000
Uncertain tax positions 267,606,000 0 0
Deferred income taxes (108,514,000) (14,258,000) (62,142,000)
Other assets, net 9,379,000 7,120,000 (36,019,000)
Other liabilities, net (16,952,000) 19,044,000 (5,947,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 112,195,000 109,710,000 94,347,000
CASH FLOW FROM INVESTING ACTIVITIES      
Acquisition of business, net of cash acquired (35,875,000) 0 (114,752,000)
Purchases of property, plant and equipment (99,048,000) (36,330,000) (119,174,000)
Proceeds from disposal of assets 64,000 2,180,000 6,249,000
Proceeds from sale of deconsolidation and investment in associates 0 0 19,826,000
Other investing activities 1,608,000 0 0
NET CASH USED IN INVESTING ACTIVITIES (133,251,000) (34,150,000) (207,851,000)
CASH FLOW FROM FINANCING ACTIVITIES      
Payment of deferred acquisition price payable (32,000) (13,250,000) 0
Proceeds from issuance of debt 0 79,088,000 497,386,000
Principal repayments of debt (63,402,000) (49,868,000) (373,899,000)
Debt issuance costs paid 0 (1,616,000) (20,806,000)
Payment of debt extinguishment (1,000,000) 0 (3,436,000)
Other financing activities (1,492,000) 0 0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (65,926,000) 14,354,000 99,245,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (86,982,000) 89,914,000 (14,259,000)
Effects of exchange rate fluctuations on cash and cash equivalents 18,000 (5,000) (8,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 174,760,000 84,851,000 99,118,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 87,796,000 174,760,000 84,851,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest paid, net 52,565,000 59,200,000 48,246,000
Cash paid for taxes 81,535,000 166,634,000 70,666,000
Issuance of shares to relieve liability obligations, net 2,730,000 2,610,000 0
OTHER NON-CASH INVESTING AND FINANCING ACTIVITIES      
Accrued capital expenditures 20,507,000 4,916,000 6,008,000
Issuance of debt for acquisition of business 25,776,000 0 0
Issuance of shares under business combinations 34,453,000 0 85,232,000
Acquisitions      
Tangible and intangible assets acquired, net of cash 83,685,000 227,000 31,841,000
Liabilities assumed (12,422,000)   (8,735,000)
Liabilities assumed   1,522,000  
Acquisition consideration payable (58,506,000) 11,367,000 77,657,000
Goodwill 23,118,000 134,000 13,989,000
Total $ 35,875,000 $ 13,250,000 $ 114,752,000