0000950170-23-040096 | 10-Q | XBRL Viewer | Green Thumb Industries INC

Other Income (Expense) (Tables)

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)

For the three and six months ended June 30, 2023 and 2022 other income (expense) was comprised of the following:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
		(in thousands)				(in thousands)
Fair value adjustments on equity investments	$	(655)	$	(8,018)	$	(1,134)	$	(17,627)
Fair value adjustments on equity method investments		—		—		—		14,119
Fair value adjustments on warrants issued		621		13,843		2,263		21,772
Earnings (loss) from equity method investments		(432)		(738)		(750)		(1,941)
Other		196		496		275		695
Total Other Income (Expense)	$	(270)	$	5,583	$	654	$	17,018

Warrants

6 Months Ended

Jun. 30, 2023

Warrants and Rights Note Disclosure [Abstract]

Warrants

8. WARRANTS

As part of the financing of the April 30, 2021 Notes, as well as other financing arrangements, the Company issued warrants to related parties, as well as unrelated third parties, which allow the holders to purchase Subordinate Voting Shares at an exercise price determined at the time of issuance.

The following table summarizes the number of warrants outstanding as of June 30, 2023 and December 31, 2022:


	Liability Classified							Equity Classified
	Number of Shares			Weighted Average Exercise Price (C$)		Weighted Average Remaining Contractual Life		Number of Shares			Weighted Average Exercise Price (USD)		Weighted Average Remaining Contractual Life
Balance as of December 31, 2022		1,997,208	C$		18.03		1.50		1,737,347	$		31.83		3.38
Balance as of June 30, 2023		1,997,208	C$		18.03		1.01		1,737,347	$		31.83		2.88

(a) Liability Classified Warrants Outstanding

The following table summarizes the fair value of the liability classified warrants at June 30, 2023 and December 31, 2022:


				Fair Value
Warrant Liability	Strike Price	Warrants Outstanding		June 30, 2023		December 31, 2022		Change
				(in thousands)
Private Placement Financing Warrants Issued May 2019	C$19.39		1,606,533	$	1,414	$	3,125	$	(1,711	)
Modification Warrants Issued November 2019	C$12.04		316,947		668		1,139		(471	)
Additional Modification Warrants Issued May 2020	C$14.03		73,728		175		256		(81	)
Totals			1,997,208	$	2,257	$	4,520	$	(2,263	)

During the three and six months ended June 30, 2023 and 2022, the Company recorded gains of $621 thousand and $2,263 thousand, and $13,843 thousand and $21,772 thousand, respectively, on the change in the fair value of the warrant liability within other income on the unaudited interim condensed consolidated statements of operations. As of June 30, 2023, the warrant liability was classified as a current liability, and recorded within accrued liabilities on the unaudited interim condensed consolidated balance sheet.

The following table summarizes the significant assumptions used in determining the fair value of the warrant liability as of each reporting date (see Note 13 - Fair Value Measurements for additional details):


	June 30,	December 31,
Significant Assumptions	2023	2022
Volatility	71.66% - 76.66%	70.44% - 78.21%
Remaining Term	0.9 - 1.9 years	1.39 - 2.39 years
Risk Free Rate	4.54%	3.82% - 4.07%

8. WARRANTS (Continued)

(b) Equity Classified Warrants Outstanding

The Company's equity classified warrants were recorded at fair value at each respective date of issuance. Equity classified warrants are not remeasured at fair value on a recurring basis and are carried at their issuance date fair value. The following table summarizes the carrying amounts of the Company's equity classified warrants at June 30, 2023 and December 31, 2022:


					Issuance Date Fair Value
			Warrants		June 30,		December 31,
Warrants Included in Contributed Surplus	Strike Price		Outstanding		2023		2022
					(in thousands)
Mortgage Warrants Issued June 2020	$	9.10		35,000	$	181	$	181
Private Placement Refinance Warrants Issued April 2021	$	32.68		1,459,044		22,259		22,259
Private Placement Refinance Warrants Issued October 2021	$	30.02		243,303		2,616		2,616
Totals				1,737,347	$	25,056	$	25,056

The equity warrants were valued as of the date of issuance using a Black Scholes Option Pricing model. The following table summarizes the significant assumptions used in determining the fair value of the warrants as of each respective issuance date:


Significant Assumptions	Private Placement Refinancing Warrants	Private Placement Refinancing Warrants	Dispensary Mortgage Warrants
Date of Issuance	October 15, 2021	April 30, 2021	June 5, 2020
Volatility	73%	73%	80%
Estimated Term	4 years	4 years	5 years
Risk Free Rate	1.12%	0.74%	0.37%

Variable Interest Entities - Schedule of Variable Interest Entities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Current assets	$ 341,254	$ 351,351
Current liabilities	$ 175,261	$ 146,571

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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+ Details

- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

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+ Details

Other Income (Expense) - Schedule of Other Nonoperating Income (Expense) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair value adjustments on equity investments	$ (655)	$ (8,018)	$ (1,134)	$ (17,627)
Fair value adjustments on equity method investments	0	0	0	14,119
Fair value adjustment on warrants issued	621	13,843	2,263	21,772
Earnings (loss) from equity method investments	(432)	(738)	(750)	(1,941)
Other	196	496	275	695
Total Other Income (Expense)	$ (270)	$ 5,583	$ 654	$ 17,018

Overview and Basis of Presentation	6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]
Overview and Basis of Presentation	1. Overview and Basis of Presentation (a) Description of Business Green Thumb Industries Inc. (“Green Thumb,” the “Company,” “we” or “us”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while being committed to community and sustainable, profitable growth. Green Thumb owns, manufactures, and distributes a portfolio of cannabis consumer packaged goods brands including &Shine, Beboe, Dogwalkers, Doctor Solomon’s, Good Green, incredibles, and RYTHM, to third-party retail stores across the United States as well as to Green Thumb owned retail cannabis stores. The Company also owns and operates retail cannabis stores that include a rapidly growing national chain named RISE, which sell our products and third-party products. As of June 30, 2023, Green Thumb has revenue in fifteen markets (California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Virginia), employs approximately 4,300 people and serves millions of patients and customers annually. The Company’s registered office is located at 250 Howe Street, 20th Floor, Vancouver, British Columbia, V6C 3R8. The Company’s U.S. headquarters are at 325 W. Huron St., Suite 700, Chicago, IL 60654. (b) Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Green Thumb and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the U.S. Securities & Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and, accordingly, certain information, footnotes and disclosures normally included in the annual financial statements, prepared in accordance with GAAP have been condensed or omitted in accordance with SEC rules and regulations. The financial data presented herein should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, (the "2022 Form 10-K”). In the opinion of management, the financial data presented includes all adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. Certain previously reported amounts have been reclassified between line items to conform to the current period presentation. Results of interim periods should not be considered indicative of the results for the full year. These unaudited interim condensed consolidated financial statements include estimates and assumptions of management that affect the amounts reported in the unaudited condensed consolidated financial statements. Actual results could differ from these estimates. (c) Significant Accounting Policies There have been no changes to the Company’s significant accounting policies as described in Note 2 to the Company's Consolidated Financial Statements included in the 2022 Form 10-K. (d) Earnings per Share Basic earnings per share is calculated using the treasury stock method, by dividing the net earnings attributable to shareholders by the weighted average number of common shares outstanding during each of the periods presented. Contingently issuable shares (including shares held in escrow) are not considered outstanding common shares and consequently are not included in the earnings per share calculation. Diluted earnings per share is calculated using the treasury stock method by adjusting the weighted average number of common shares outstanding to assume conversion of all dilutive potential common shares. The Company has three categories of potentially dilutive common share equivalents: restricted stock units, stock options and warrants. As of June 30, 2023, the Company had 10,874,051 options, 3,453,460 restricted stock units and 3,734,555 warrants outstanding. As of June 30, 2022, the Company had 6,036,849 options, 1,024,659 restricted stock units and 3,835,278 warrants outstanding. 1. Overview and Basis of Presentation (Continued) (d) Earnings per Share (Continued) In order to determine diluted earnings per share, it is assumed that any proceeds from the vesting of dilutive unvested restricted stock units, or exercise of unvested stock options and warrants would be used to repurchase common shares at the average market price during the period. Under the treasury stock method, the diluted earnings per share calculation excludes any potential conversion of stock options and convertible debt that would increase earnings per share or decrease loss per share. For the three months ended June 30, 2023, the computation of diluted earnings per share included 135,894 options, 287,259 restricted stock units. For the six months ended June 30, 2023, the computation of diluted earnings per share included 167,191 options, 1,587,917 restricted stock units. There were no dilutive warrants during the three and six months ended June 30, 2023 as the strike price was greater than the average stock price for the period. For the three months ended June 30, 2022, the computation of diluted earnings per share included 842,440 options, 34,451 restricted stock units and 102,387 warrants. For the six months ended June 30, 2022, the computation of diluted earnings per share included 1,310,817 options, 34,618 restricted stock units and 209,969 warrants. For the three and six months ended June 30, 2023, the weighted average number of anti-dilutive stock options excluded from the computation of diluted earnings per share were 3,399,518 and 3,473,866, respectively. For the three and six months ended June 30, 2022, the weighted average number of anti-dilutive stock options excluded from the computation of diluted earnings per share were 1,643,117 and 1,400,582, respectively. (e) Recently Issued Accounting Standards The Company reviews recently issued accounting standards on a quarterly basis and has determined there are no standards yet to be adopted which are relevant to the business for disclosure.

Overview and Basis of Presentation

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Overview and Basis of Presentation

1. Overview and Basis of Presentation

(a) Description of Business

Green Thumb Industries Inc. (“Green Thumb,” the “Company,” “we” or “us”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while being committed to community and sustainable, profitable growth. Green Thumb owns, manufactures, and distributes a portfolio of cannabis consumer packaged goods brands including &Shine, Beboe, Dogwalkers, Doctor Solomon’s, Good Green, incredibles, and RYTHM, to third-party retail stores across the United States as well as to Green Thumb owned retail cannabis stores. The Company also owns and operates retail cannabis stores that include a rapidly growing national chain named RISE, which sell our products and third-party products. As of June 30, 2023, Green Thumb has revenue in fifteen markets (California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Virginia), employs approximately 4,300 people and serves millions of patients and customers annually.

The Company’s registered office is located at 250 Howe Street, 20th Floor, Vancouver, British Columbia, V6C 3R8. The Company’s U.S. headquarters are at 325 W. Huron St., Suite 700, Chicago, IL 60654.

(b) Basis of Presentation

The accompanying unaudited interim condensed consolidated financial statements include the accounts of Green Thumb and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the U.S. Securities & Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and, accordingly, certain information, footnotes and disclosures normally included in the annual financial statements, prepared in accordance with GAAP have been condensed or omitted in accordance with SEC rules and regulations. The financial data presented herein should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, (the "2022 Form 10-K”). In the opinion of management, the financial data presented includes all adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. Certain previously reported amounts have been reclassified between line items to conform to the current period presentation. Results of interim periods should not be considered indicative of the results for the full year. These unaudited interim condensed consolidated financial statements include estimates and assumptions of management that affect the amounts reported in the unaudited condensed consolidated financial statements. Actual results could differ from these estimates.

There have been no changes to the Company’s significant accounting policies as described in Note 2 to the Company's Consolidated Financial Statements included in the 2022 Form 10-K.

(d) Earnings per Share

Basic earnings per share is calculated using the treasury stock method, by dividing the net earnings attributable to shareholders by the weighted average number of common shares outstanding during each of the periods presented. Contingently issuable shares (including shares held in escrow) are not considered outstanding common shares and consequently are not included in the earnings per share calculation. Diluted earnings per share is calculated using the treasury stock method by adjusting the weighted average number of common shares outstanding to assume conversion of all dilutive potential common shares. The Company has three categories of potentially dilutive common share equivalents: restricted stock units, stock options and warrants. As of June 30, 2023, the Company had 10,874,051 options, 3,453,460 restricted stock units and 3,734,555 warrants outstanding. As of June 30, 2022, the Company had 6,036,849 options, 1,024,659 restricted stock units and 3,835,278 warrants outstanding.

1. Overview and Basis of Presentation (Continued)

(d) Earnings per Share (Continued)

In order to determine diluted earnings per share, it is assumed that any proceeds from the vesting of dilutive unvested restricted stock units, or exercise of unvested stock options and warrants would be used to repurchase common shares at the average market price during the period. Under the treasury stock method, the diluted earnings per share calculation excludes any potential conversion of stock options and convertible debt that would increase earnings per share or decrease loss per share. For the three months ended June 30, 2023, the computation of diluted earnings per share included 135,894 options, 287,259 restricted stock units. For the six months ended June 30, 2023, the computation of diluted earnings per share included 167,191 options, 1,587,917 restricted stock units. There were no dilutive warrants during the three and six months ended June 30, 2023 as the strike price was greater than the average stock price for the period. For the three months ended June 30, 2022, the computation of diluted earnings per share included 842,440 options, 34,451 restricted stock units and 102,387 warrants. For the six months ended June 30, 2022, the computation of diluted earnings per share included 1,310,817 options, 34,618 restricted stock units and 209,969 warrants. For the three and six months ended June 30, 2023, the weighted average number of anti-dilutive stock options excluded from the computation of diluted earnings per share were 3,399,518 and 3,473,866, respectively. For the three and six months ended June 30, 2022, the weighted average number of anti-dilutive stock options excluded from the computation of diluted earnings per share were 1,643,117 and 1,400,582, respectively.

(e) Recently Issued Accounting Standards

The Company reviews recently issued accounting standards on a quarterly basis and has determined there are no standards yet to be adopted which are relevant to the business for disclosure.

Warrants - Fair Value Of The Equity Classified Warrants (Detail) - Equity Classified Warrant [member] - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrants Outstanding	1,737,347	1,737,347
Warrant Liability	$ 25,056	$ 25,056
Dispensary Mortgage Warrants [member]
Class of Warrant or Right [Line Items]
Strike Price	$ 9.10
Warrants Outstanding	35,000
Warrant Liability	$ 181	181
Private Placement Refinancing Warrants [member]
Class of Warrant or Right [Line Items]
Strike Price	$ 32.68
Warrants Outstanding	1,459,044
Warrant Liability	$ 22,259	22,259
Private Placement Refinancing Warrants1 [Member]
Class of Warrant or Right [Line Items]
Strike Price	$ 30.02
Warrants Outstanding	243,303
Warrant Liability	$ 2,616	$ 2,616

Intangible Assets And Goodwill - Summary Of Goodwill And Intangible Assets Disclosure (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill	$ 589,691	$ 589,691
Retail Segment [Member]
Goodwill [Line Items]
Goodwill	273,802	273,802
Consumer Packaged Goods Segment [Member]
Goodwill [Line Items]
Goodwill	$ 315,889	$ 315,889

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Income Tax Expense - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax paid	$ 52,134	$ 64,803

Share Capital - Share-based Payment Arrangement, Option, Activity (Detail) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Balance	9,577,947
Number of Share, Granted	2,172,481
Number of Shares, Exercised	(130,508)
Number of Shares, Forfeited	(745,869)
Number of Shares, Ending Balance	10,874,051	9,577,947
Number of Share, Vested	5,666,427
Number of Share, Exercisable	1,096,059
Weighted Average Exercise Price, Balance	$ 12.71
Weighted Average Exercise Price, Granted	7.75
Weighted Average Exercise Price, Exercised	7.03
Weighted Average Exercise Price, Forfeited	10.75
Weighted Average Exercise Price, Vested	14.91
Weighted Average Exercise Price, Ending Balance	11.92	$ 12.71
Weighted Average Exercise Price, Exercisable	$ 6.56
Weighted Average Contractual Life, Balance	4 years 8 months 8 days	4 years 9 months 18 days
Weighted Average Contractual Life, Granted	6 years 8 months 23 days
Weighted Average Contractual Life, Exercisable	2 years 14 days

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Disclosure Text Block Supplement [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The fair values of the Company’s financial instruments associated with each of the three levels of the hierarchy are:


		As of June 30, 2023
	(in thousands)
		Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	149,026	$	—	$	—	$	149,026
Investments		23,584		—		51,476		75,060
Contingent Consideration Payable		—		—		(32,022)		(32,022)
Warrant Liability		—		—		(2,257)		(2,257)
	$	172,610	$	—	$	17,197	$	189,807


		As of December 31, 2022
	(in thousands)
		Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	177,682	$	—	$	—	$	177,682
Investments		24,749		—		49,420		74,169
Contingent Consideration Payable		—		—		(41,943)		(41,943)
Warrant Liability		—		—		(4,520)		(4,520)
	$	202,431	$	—	$	2,957	$	205,388

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Fair Value Measurements - Fair Value Measurements, Recurring and Nonrecurring (Detail) - Financial Instruments [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	$ 149,026	$ 177,682
Investments	75,060	74,169
Contingent Consideration Payable	(32,022)	(41,943)
Warrant Liability	(2,257)	(4,520)
Fair Value, Net Asset (Liability)	189,807	205,388
Fair Value, Inputs, Level 1 [member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	149,026	177,682
Investments	23,584	24,749
Contingent Consideration Payable	0	0
Warrant Liability	0	0
Fair Value, Net Asset (Liability)	172,610	202,431
Fair Value, Inputs, Level 2 [member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	0	0
Investments	0	0
Contingent Consideration Payable	0	0
Warrant Liability	0	0
Fair Value, Net Asset (Liability)	0	0
Fair Value, Inputs, Level 3 [member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	0	0
Investments	51,476	49,420
Contingent Consideration Payable	(32,022)	(41,943)
Warrant Liability	(2,257)	(4,520)
Fair Value, Net Asset (Liability)	$ 17,197	$ 2,957

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disclosure of Property of Equipment [Line Items]
Depreciation expense	$ 11,490	$ 9,101	$ 22,381	$ 17,149
Cost of Sales [Member]
Disclosure of Property of Equipment [Line Items]
Depreciation expense	$ 7,694	$ 5,918	$ 15,050	$ 10,964

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Disclosure Text Block Supplement [Abstract]
Notes Payable	$ 289,905	$ 275,668
Notes Payable, Current	$ 1,048	$ 1,037

Income Tax Expense

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Tax Expense

10. INCOME TAX EXPENSE

The following table summarizes the Company’s income tax expense and effective tax rates for the three and six months ended June 30, 2023 and 2022:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
Income before Income Taxes	$	39,455	$	63,071	$	82,496	$	123,888
Income Tax Expense		25,765		38,340		59,401		69,471
Effective Tax Rate		65.3%		60.8%		72.0%		56.1%

The effective tax rates for the three and six months ended June 30, 2023 and 2022 were based on the Company’s forecasted annualized effective tax rates and were adjusted for discrete items that occurred within the periods presented.

Due to its cannabis operations, the Company is subject to the limitations of the U.S. Internal Revenue Code of 1986, as amended (“IRC”) Section 280E under which the Company is only allowed to deduct expenses directly related to sales of product. This results in permanent differences between ordinary and necessary business expenses deemed non-allowable under IRC Section 280E. Therefore, the effective tax rate can be highly variable and may not necessarily correlate with pre-tax income and provides for effective tax rates that are well in excess of statutory tax rates.

Taxes paid during the six months ended June 30, 2023 and 2022 were $52,134 thousand and $64,803 thousand, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Share Capital - Schedule of Common Stock Outstanding Roll Forward (Detail)	6 Months Ended
	Jun. 30, 2023 shares
Share Capital [Member]
Class of Stock [Line Items]
Distribution of deferred shares	680,089
Subordinate Voting Shares [member]
Class of Stock [Line Items]
Beginning balance	206,991,275
Ending balance	208,976,040
Subordinate Voting Shares [member] \| Share Capital [Member]
Class of Stock [Line Items]
Beginning balance	206,991,275
Distribution of Contingent Consideration	822,447
Distribution of deferred shares	680,089
Issuance of shares upon exercise of options and warrants	130,508
Issuances of shares upon vesting of RSUs	351,721
Ending balance	208,976,040
Multiple Voting Shares [member]
Class of Stock [Line Items]
Beginning balance	38,531
Ending balance	38,531
Multiple Voting Shares [member] \| Share Capital [Member]
Class of Stock [Line Items]
Beginning balance	38,531
Ending balance	38,531
Super Voting Shares [member]
Class of Stock [Line Items]
Beginning balance	251,690
Ending balance	251,690
Super Voting Shares [member] \| Share Capital [Member]
Class of Stock [Line Items]
Beginning balance	251,690
Ending balance	251,690

Inventories (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Summary of inventory

The Company’s inventories include the following at June 30, 2023 and December 31, 2022:


		June 30, 2023		December 31, 2022
		(in thousands)
Raw Material	$	1,530	$	3,070
Packaging and Miscellaneous		10,695		9,847
Work in Process		52,536		57,287
Finished Goods		64,391		49,268
Reserve for Obsolete Inventory		(4,380)		(3,797)
Total Inventories, Net	$	124,772	$	115,675

Investments

6 Months Ended

Jun. 30, 2023

Investments [Abstract]

Investments

5. INVESTMENTS

As of June 30, 2023 and December 31, 2022, the Company held various equity interests in cannabis related companies as well as investments in note receivable instruments that had a combined fair value of $75,060 thousand and $74,169 thousand as of each period end, respectively. The Company measures its investments that do not have readily determinable fair value at cost minus impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company performs an assessment on a quarterly basis to determine whether triggering events for impairment exist and to identify any observable price changes.

The following table summarizes the changes in the Company’s investments during the six months ended June 30, 2023 and year ending December 31, 2022:


		June 30, 2023		December 31, 2022
	(in thousands)
Beginning	$	74,169	$	94,902
Additions		2,200		5,444
Disposals		(331)		(3,571)
Fair value adjustment		(928)		(22,606)
Transfers and other		(50)		—
Ending	$	75,060	$	74,169

During the three and six months ended June 30, 2023, the Company recorded fair value losses, net of interest income of $577 thousand and $928 thousand, respectively. The fair value losses associated with the Company's equity investments in the amount of $655 thousand and $1,134 thousand as of the three and six months ended June 30, 2023, respectively, was recorded within other income (expense) on the Company's unaudited interim condensed consolidated statements of operations. The interest income portion associated with the Company's note receivable investments in the amount of $78 thousand and $206 thousand as of the three and six months ended June 30, 2023, respectively was recorded within interest income on the unaudited interim condensed consolidated statements of operations.

(a) Equity Investments

As of June 30, 2023 and December 31, 2022, the Company held equity investments in publicly traded entities which have readily determinable fair values, which are classified as Level 1 investments, of $1,370 thousand and $2,535 thousand, respectively. During the three and six months ended June 30, 2023, the Company recorded net losses on the change in fair value of such investments of $655 thousand and $1,134 thousand, respectively, within other income (expense) on the unaudited interim condensed consolidated statements of operations. During the three and six months ended June 30, 2022, the Company recorded net losses on the change in fair value of such investments of $6,396 thousand and $14,293 thousand, respectively, within other income (expense) on the unaudited interim condensed consolidated statements of operations. During the six months ended June 30, 2023 and 2022, the Company received proceeds from the sale of such investments of $31 thousand and $160 thousand, respectively. These investments are classified as trading securities on the Company's unaudited interim condensed consolidated balance sheets.

As of June 30, 2023 and December 31, 2022, the Company held equity investments in privately held entities that did not have readily determinable fair values, which are classified as Level 3 investments, of $42,330 thousand and $40,330 thousand, respectively. For the three and six months ended June 30, 2023, there were no gains or losses on the change in fair value of such investments. During the three and six months ended June 30, 2022, the Company recorded net gains on the change in fair value of such investments of $22 thousand and $477 thousand, respectively, within other income (expense) on the unaudited interim condensed consolidated statements of operations. There were no sales of these investments during these periods. These investments are classified as trading securities on the Company's unaudited interim condensed consolidated balance sheets.

See Note 13 - Fair Value Measurements for additional details.

5. INVESTMENTS (Continued)

(a) Equity Investments (Continued)

Unrealized gains and (losses) recognized on equity investments held during the three and six months ended June 30, 2023 were $(653) thousand and $1,996 thousand, respectively. Unrealized losses recognized on equity investments held during the three and six months ended June 30, 2022 were $(6,367) thousand and $(13,792) thousand, respectively.

(b) Note Receivable Instruments

The Company has made multiple investments in various note receivable instruments, including note receivable instruments with conversion features.

The Company held note receivable instruments, which were classified as a Level 1 investment as they represent public debt of a publicly traded entity, and had a fair value of $22,214 thousand as of June 30, 2023 and December 31, 2022. During the three and six months ended June 30, 2023, there were no gains or (losses) on the change in fair value of such investments. For the three and six months ended June 30, 2022, the Company recorded net losses on the change in fair value of such investments of $378 thousand and $654 thousand, respectively within other income (expense) on the unaudited interim condensed consolidated statements of operations. The note receivable instruments have a stated interest rate of 13% and a maturity date of April 30, 2025. These note receivable instruments did not contain conversion features and are currently classified as trading securities on the Company's unaudited interim condensed consolidated balance sheets.

As of June 30, 2023 and December 31, 2022, the Company held note receivable instruments which were classified as Level 3 investments as they represent loans provided to privately held entities that do not have readily determinable fair values. The note receivable instruments had a combined fair value of $9,146 thousand and $9,090 thousand, respectively, with stated interest ranging between 0.91% - 10% and terms between 15 months to five years. During the three and six months ended June 30, 2023, there were no gains or (losses) recorded on the change in fair value of such investments, however, the company recorded accrued interest of $78 thousand and $206 thousand, respectively, within interest income on the unaudited interim condensed consolidated statements of operations. During the three and six months ended June 30, 2022, the Company recorded net losses on the change in fair value of such investments of $1,266 thousand and $3,157 thousand, respectively, within other income (expense) and accrued interest of $153 thousand and $307 thousand, respectively, within interest income on the unaudited interim condensed consolidated statements of operations. These note receivable instruments are classified as trading securities on the Company's unaudited interim condensed consolidated balance sheets.

See Note 13 - Fair Value Measurements for additional details.

Notes Payable - Schedule of Debt (Parenthetical) (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
	Apr. 30, 2021	Jun. 30, 2023	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2022
Debt Instrument [Line Items]
Charitable Contribution Quarterly Payment			$ 250	$ 50
Charitable Contribution, Date Of Last Payment			May 2024	October 2024
Debt Instrument Interest Rate		5.00%	7.00%	2.17%	9.25%
Private Placement Debt April 30, 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument Interest Rate	7.00%
Debt face value	$ 249,934
Debt Maturity Date	Apr. 30, 2025
Debt Instrument Carrying Amount		$ 7,587			$ 12,139
Mortgage Notes [Member]
Debt Instrument [Line Items]
Debt face value		$ 48,426			38,292
Debt Maturity Date		Jun. 05, 2035
Debt Instrument Carrying Amount		$ 259			437
Debt Instrument, Annual Principal Payment		$ 1,058			$ 746

Share Capital - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	6 Months Ended
	Feb. 25, 2022	Jun. 30, 2018	Jun. 30, 2023	Dec. 31, 2022
Current liabilities			$ 175,261	$ 146,571
Issuance of deferred shares			12,973	$ 36,211
Restricted Stock Units (RSUs) [Member]
Cost Not yet Recognized, Amount			$ 51,798
Cost Not yet Recognized, Period for Recognition			2 years 2 months 12 days
Multiple Voting Shares [Member]
Common Stock, Shares, Outstanding			38,531	38,531
Multiple Voting Shares [Member] \| Conversion Of Multiple Voting Shares [member]
Voting Rights			100
Subordinate Voting Shares [Member]
Common Stock, Shares, Outstanding			208,976,040	206,991,275
Issuance of shares under business combinations and investments, value	$ 6,070
Business combination, contigent liability			$ 6,000
Subordinate Voting Shares [Member] \| Dharma Pharmaceuticals LLC [Member]
Issuance of shares under business combinations and investments	822,447
Subordinate Voting Shares [Member] \| Dharma Pharmaceuticals LLC [Member] \| Maximum [Member]
Contingent consideration			$ 65,000
Subordinate Voting Shares [Member] \| GTII Stock and Incentive Plan [Member]
Percentage of maximum number of shares issued under the plan		10.00%
Subordinate Voting Shares [Member] \| Conversion Of Multiple Voting Shares [member]
Conversion Of Stock, Shares Converted			0
Shares Available For Conversion			3,853,100
Super Voting Shares [Member]
Common Stock, Shares, Outstanding			251,690	251,690
Super Voting Shares [Member] \| Conversion Of Super Voting Shares [member]
Voting Rights			1,000
Shares Available For Conversion			25,169,000

Leases - Schedule Of Other Information Related To Operating Leases (Detail)	Jun. 30, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term (years)	12 years 2 months 1 day	11 years 7 months 20 days
Weighted average discount rate	12.46%	12.42%

Intangible Assets And Goodwill

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

. INTANGIBLE ASSETS AND GOODWILL

(a) Intangible Assets

Intangible assets are recorded at cost less accumulated amortization and impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value at the acquisition date. Amortization of definite life intangibles is provided on a straight-line basis over their estimated useful lives. The estimated useful lives, residual values, and amortization methods are reviewed at each year end, and any changes in estimates are accounted for prospectively.

At June 30, 2023 and December 31, 2022, intangible assets consisted of the following:


		June 30, 2023						December 31, 2022
		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
		(in thousands)						(in thousands)
Licenses and Permits	$	660,716	$	135,716	$	525,000	$	660,716	$	113,800	$	546,916
Trademarks		41,511		11,932		29,579		41,511		10,486		31,025
Customer Relationships		24,438		15,181		9,257		24,438		13,435		11,003
Non-Competition Agreements		2,565		2,236		329		2,565		1,990		575
Total Intangible Assets	$	729,230	$	165,065	$	564,165	$	729,230	$	139,711	$	589,519

The Company recorded amortization expense for the three and six months ended June 30, 2023 of $12,744 thousand and $25,354 thousand, respectively. The Company recorded amortization for the three and six months ended June 30, 2022 of $15,097 thousand and $30,039 thousand, respectively.

The following table outlines the estimated annual amortization expense related to intangible assets as of June 30, 2023:


		Estimated Amortization
Year Ending December 31,		(in thousands)
Remainder of 2023	$	25,487
2024		50,392
2025		50,294
2026		47,332
2027		46,803
2028 and Thereafter		343,857
	$	564,165

As of June 30, 2023, the weighted average amortization period remaining for intangible assets was 11.84 years.

(b) Goodwill

At June 30, 2023 and December 31, 2022 the balances of goodwill, by segment, consisted of the following:


		Retail		Consumer Packaged Goods		Total
		(in thousands)
As of December 31, 2022	$	273,802	$	315,889	$	589,691
As of June 30, 2023	$	273,802	$	315,889	$	589,691

Warrants - Schedule Of Fair Value Of Warrant Liability (Detail) - Liability Classified Warrant [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrants Outstanding	1,997,208	1,997,208
Warrant Liability	$ 2,257	$ 4,520
Change in Fair value of warrants liability	$ 2,263
Private Placement Financing Warrants [member]
Class of Warrant or Right [Line Items]
Strike Price	$ 19.39
Warrants Outstanding	1,606,533
Warrant Liability	$ 1,414	3,125
Change in Fair value of warrants liability	$ 1,711
Modification Warrants [member]
Class of Warrant or Right [Line Items]
Strike Price	$ 12.04
Warrants Outstanding	316,947
Warrant Liability	$ 668	1,139
Change in Fair value of warrants liability	$ 471
Additional Modification Warrants [member]
Class of Warrant or Right [Line Items]
Strike Price	$ 14.03
Warrants Outstanding	73,728
Warrant Liability	$ 175	$ 256
Change in Fair value of warrants liability	$ 81

Share Capital (Tables)

6 Months Ended

Jun. 30, 2023

Disclosure of Share Capital [Line Items]

Schedule of Common Stock Outstanding Roll Forward

(b) Issued and Outstanding

A reconciliation of the beginning and ending amounts of the issued and outstanding shares by class is as follows:


	Issued and Outstanding
	Subordinate Voting Shares	Multiple Voting Shares	Super Voting Shares
As at January 1, 2023	206,991,275	38,531	251,690
Distribution of contingent consideration	822,447	—	—
Distribution of deferred shares	680,089	—	—
Issuance of shares upon exercise of options	130,508	—	—
Issuances of shares upon vesting of RSUs	351,721	—	—
As at June 30, 2023	208,976,040	38,531	251,690

Schedule of Deferred Compensation Arrangement with Individual, Share-Based Payments [Table Text Block]

The following table summarizes the activity during the six months ended June 30, 2023:


Related Acquisition	As at December 31, 2022	Distributed Shares	Cancelled Shares	As at June 30, 2023
Liberty Compassion, Inc.	214,768	(214,768)	—	—
Dharma Pharmaceuticals, LLC	229,878	(229,878)	—	—
Mobley Pain Management and Wellness Center, LLC and Canwell Processing, LLC	264,760	(12,305)	(84,122)	168,333
GreenStar Herbals, Inc.	161,306	(161,306)	—	—
Maryland Health and Wellness Center, Inc.	61,832	(61,832)	—	—
LeafLine Industries, LLC	386,002	—	—	386,002
Total	1,318,546	(680,089)	(84,122)	554,335

Share-based Payment Arrangement, Option, Activity

Stock option activity is summarized as follows:


	Number of Shares	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life

Balance as of December 31, 2022	9,577,947	$12.71	4.80
Granted	2,172,481	7.75	6.73
Exercised	(130,508)	7.03
Forfeited	(745,869)	10.75
Balance as of June 30, 2023	10,874,051	$11.92	4.69
Vested	5,666,427	$14.91
Exercisable of June 30, 2023	1,096,059	$6.56	2.04

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company used the Black-Scholes option pricing model to estimate the fair value of the options granted during the six months ended June 30, 2023 and the year ended December 31, 2022, using the following ranges of assumptions:


	June 30,	December 31,
	2023	2022
Risk-free interest rate	3.06% - 3.64%	1.18% - 3.54%
Expected dividend yield	0%	0%
Expected volatility	64%	60% - 64%
Expected option life	3.5 – 4.5 years	3 – 4.5 years

Schedule of Stock-Based Compensation Expense

The stock-based compensation expense for the three and six months ended June 30, 2023 and 2022 was as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
		(in thousands)				(in thousands)
Stock options expense	$	4,303	$	3,775	$	8,786	$	6,982
Restricted Stock Units		3,078		3,058		4,834		4,502
Total Stock Based Compensation Expense	$	7,381	$	6,833	$	13,620	$	11,484

Restricted Stock Units

Disclosure of Share Capital [Line Items]

Non-vested Restricted Stock Shares Activity

The following table summarizes the number of unvested RSU awards as of June 30, 2023 and December 31, 2022 and the changes during the six months ended June 30, 2023:


	Number of Shares		Weighted Average Grant Date Fair Value
Unvested Shares at December 31, 2022	947,502	$	17.91
Granted	3,092,835		7.65
Forfeited	(235,156)		11.64
Vested	(351,721)		15.78
Unvested Shares at June 30, 2023	3,453,460	$	9.37

Share Capital - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Risk-free interest rate, Minumum	3.06%	1.18%
Risk-free interest rate, Maximum	3.64%	3.54%
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expected volatility	64.00%	60.00%
Expected option life	3 years 6 months	3 years
Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expected volatility		64.00%
Expected option life	4 years 6 months	4 years 6 months

Inventories

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

2. INVENTORIES

The Company’s inventories include the following at June 30, 2023 and December 31, 2022:


		June 30, 2023		December 31, 2022
		(in thousands)
Raw Material	$	1,530	$	3,070
Packaging and Miscellaneous		10,695		9,847
Work in Process		52,536		57,287
Finished Goods		64,391		49,268
Reserve for Obsolete Inventory		(4,380)		(3,797)
Total Inventories, Net	$	124,772	$	115,675

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOW FROM OPERATING ACTIVITIES
Net income attributable to Green Thumb Industries Inc.	$ 22,539	$ 53,376
Net income attributable to non-controlling interest	556	1,041
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	47,735	47,188
Amortization of operating lease assets	24,368	20,022
Loss on disposal of property and equipment	1,951	100
Impairment of long-lived property and equipment	285	0
Loss on equity method investment	750	1,941
Gain from lease modification	0	(3,330)
Stock based compensation	13,620	11,484
Decrease in fair value of investments	928	3,201
Increase (decrease) in fair value of contingent consideration	2,150	(29,960)
Decrease in fair value of warrants	(2,263)	(21,772)
Shares issued for settlement of business obligation	0	1,000
Gain on indemnification of deferred shares associated with post acquisition costs	(2,784)	0
Amortization of debt discount	4,762	4,559
Changes in operating assets and liabilities:
Accounts receivable, net	(8,265)	(3,952)
Inventories, net	(9,097)	(27,361)
Prepaid expenses and other current assets	(3,285)	(996)
Deposits and other assets	676	(147)
Accounts payable	9,071	5,779
Accrued liabilities	3,365	(9,998)
Operating lease liabilities	(21,589)	(17,234)
Income tax receivable and payable, net	7,555	4,973
NET CASH PROVIDED BY OPERATING ACTIVITIES	93,028	39,914
CASH FLOW FROM INVESTING ACTIVITIES
Purchases of property and equipment	(129,392)	(71,131)
Proceeds from disposal of property and equipment	319	32
Investments in securities and associates	(2,800)	(5,453)
Proceeds from equity investments and notes receivable	331	1,243
Settlement of acquisition consideration payable	0	(31,732)
Purchase of businesses, net of cash acquired	0	(7,255)
NET CASH USED IN INVESTING ACTIVITIES	(131,542)	(114,296)
CASH FLOW FROM FINANCING ACTIVITIES
Distributions to limited liability company unit holders	(533)	(14,445)
Contributions from unconsolidated subsidiaries	0	550
Proceeds from exercise of options and RSUs	916	1,603
Proceeds from issuance of notes payable	10,134	2,102
Principal repayment of notes payable	(659)	(571)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	9,858	(10,761)
CASH, CASH EQUIVALENTS:
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(28,656)	(85,143)
CASH, CASH EQUIVALENTS BEGINNING OF PERIOD	177,682	230,420
CASH, CASH EQUIVALENTS END OF PERIOD	149,026	145,277
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid	10,086	9,028
NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures	12,630	(3,761)
Noncash increase in right of use asset	(3,928)	(69,821)
Noncash increase in lease liability	3,928	69,821
Shares issued for purchase of noncontrolling interest	0	2,379
Issuance of shares associated with contingent consideration	6,070	13,111
Deferred share distributions	(20,454)	0
Issuance of shares under business combinations	0	1,406
Inventory	0	413
Accounts receivable	0	(370)
Prepaid assets	0	72
Property and equipment	0	738
Right of use assets	0	743
Identifiable intangible assets	0	14,143
Goodwill	0	8,869
Deposits and other assets	0	12
Liabilities assumed	0	(466)
Lease liabilities		(743)
Noncontrolling interests	0	17,735
Equity interests issued		(3,785)
Fair value of previously held equity interest	0	(14,500)
Deferred cash	0	(250)
Settlement of noncontrolling interests	0	(15,356)
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed), Total		7,255
Decrease in fair value of investments	928	17,320
Increase in fair value of equity method investments	0	(14,119)
TOTAL DECREASE IN FAIR VALUE OF INVESTMENTS	$ 928	$ 3,201

Warrants - Schedule of Stockholders' Equity Note, Warrants or Rights (Detail)	Jun. 30, 2023 $ / shares shares
Liability Classified Warrant [Member]
Class of Warrant or Right [Line Items]
Number of Shares, Beginning Balance \| shares	1,997,208
Number of Shares, Ending Balance \| shares	1,997,208
Weighted Average Exercise Price, Beginning Balance \| $ / shares	$ 18.03
Weighted Average Exercise Price, Ending Balance \| $ / shares	$ 18.03
Weighted Average Contractual Life, Beginning Balance	1 year 6 months
Weighted Average Contractual Life, Ending Balance	1 year 3 days
Equity Classified Warrant [member]
Class of Warrant or Right [Line Items]
Number of Shares, Beginning Balance \| shares	1,737,347
Number of Shares, Ending Balance \| shares	1,737,347
Weighted Average Exercise Price, Beginning Balance \| $ / shares	$ 31.83
Weighted Average Exercise Price, Ending Balance \| $ / shares	$ 31.83
Weighted Average Contractual Life, Beginning Balance	3 years 4 months 17 days
Weighted Average Contractual Life, Ending Balance	2 years 10 months 17 days

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12. COMMITMENTS AND CONTINGENCIES

The Company is subject to lawsuits, investigations and other claims related to employment, commercial and other matters that arise out of operations in the normal course of business. Periodically, the Company reviews the status of each significant matter and assesses the potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable, and the amount can be reliably estimated, such amount is recognized in other liabilities.

Contingent liabilities are measured at management’s best estimate of the expenditure required to settle the obligation at the end of the reporting period and are discounted to present value where the effect is material. The Company performs evaluations to identify contingent liabilities for contracts. Contingent consideration is measured upon acquisition and is estimated using probability weighting of potential payouts. Subsequent changes in the estimated contingent consideration from the final purchase price allocation are recognized in the Company’s unaudited interim condensed consolidated statements of operations.

(a) Contingencies

The Company’s operations are subject to a variety of local and state regulations. Failure to comply with one or more of those regulations could result in fines, sanctions, restrictions on its operations, or losses of permits that could result in the Company ceasing operations in that specific state or local jurisdiction. The Company may be subject to regulatory fines, penalties, or restrictions in the future as cannabis and other regulations continue to evolve and are subject to differing interpretations.

(b) Claims and Litigation

From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of June 30, 2023, the following matter remains pending:

Cresco Labs New York, LLC and Cresco Labs LLC (“Plaintiffs”) filed an amended complaint against one of the Company’s subsidiaries, Fiorello Pharmaceuticals, Inc. (“Defendant”) on November 20, 2018, in the Supreme Court of the State of New York, alleging Defendant breached the parties’ Equity Purchase Agreement Letter of Intent (“LOI”) relating to the acquisition of Defendant by Plaintiffs. In December 2022, the trial court granted Plaintiffs' motion for summary judgment on their claim that Defendant breached the LOI. However, Defendant successfully appealed the trial court's decision, and in June 2023, the New York Appellate Court vacated the trial court’s decision on liability, and completely and unanimously reversed the trial court on the issue of damages, making clear that Plaintiffs, if Defendant is found liable, are limited to out-of-pocket damages. Plaintiffs have since sought the Appellate Division’s permission for further review from the New York Court of Appeals. As of June 30, 2023 and December 31, 2022, a $900 thousand loss contingency was recorded within accrued liabilities on the unaudited interim condensed consolidated balance sheets as of each period end representing the Company's estimate of out-of-pocket damages associated with the complaint.

At June 30, 2023, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company’s consolidated operations. There are also no proceedings in which any of the Company’s directors, officers or affiliates is an adverse party or has a material interest adverse to the Company’s interest.

As of June 30, 2023, the Company held approximately $22,000 thousand of open construction commitments to contractors on work being performed.

Warrants - Schedule Of Fair Value Measurement Inputs and Valuation Techniques Used In Determining Warrant Liability (Detail) - Liability Classified Warrant [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Volatility \| Minimum [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.7166	0.7044
Volatility \| Maximum [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.7666	0.7821
Remaining Term \| Minimum [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding measurement Input term	10 months 24 days	1 year 4 months 20 days
Remaining Term \| Maximum [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding measurement Input term	1 year 10 months 24 days	2 years 4 months 20 days
Risk Free Rate \| Minimum [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.0454	0.0382
Risk Free Rate \| Maximum [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input		0.0407

Segment Reporting - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill	$ 589,691	$ 589,691
Intangible Assets Net	564,165	589,519
Consumer Packaged Goods Segment [Member]
Goodwill	315,889	315,889
Retail Segment [Member]
Goodwill	273,802	273,802
Operating Segments [Member] \| Consumer Packaged Goods Segment [Member]
Goodwill	315,889	315,889
Intangible Assets Net	273,581	286,922
Operating Segments [Member] \| Retail Segment [Member]
Goodwill	273,802	273,802
Intangible Assets Net	$ 290,584	$ 302,597

- Definition

+ References + Details

SHARE CAPITAL - Distribution of Deferred Shares (Details) - Share Capital [Member]	6 Months Ended
	Jun. 30, 2023 shares
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding, Beginning Balance	1,318,546
Distribution of deferred shares	(680,089)
Cancelled Share	(84,122)
Preferred Stock, Shares Outstanding, Ending Balance	554,335
Liberty Compassion [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding, Beginning Balance	214,768
Distribution of deferred shares	(214,768)
Dharma Pharmaceuticals [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding, Beginning Balance	229,878
Distribution of deferred shares	(229,878)
Mobley Pain Management and Wellness Center, LLC and Canwell Processing [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding, Beginning Balance	264,760
Distribution of deferred shares	(12,305)
Cancelled Share	(84,122)
Preferred Stock, Shares Outstanding, Ending Balance	168,333
GreenStar Herbals [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding, Beginning Balance	161,306
Distribution of deferred shares	(161,306)
Maryland Health and Wellness Center [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding, Beginning Balance	61,832
Distribution of deferred shares	(61,832)
LeafLine Industrie [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding, Beginning Balance	386,002
Preferred Stock, Shares Outstanding, Ending Balance	386,002

Intangible Assets And Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Amortization	$ 12,744	$ 15,097	$ 25,354	$ 30,039
Weighted average amortization period			11 years 10 months 2 days

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

At June 30, 2023 and December 31, 2022, property and equipment consisted of the following:


		June 30, 2023		December 31, 2022
		(in thousands)
Buildings and Improvements	$	187,824	$	176,874
Equipment, Computers and Furniture		134,705		122,568
Leasehold Improvements		156,340		135,524
Land Improvements		847		847
Capitalized Interest		26,546		16,934
Total Property and Equipment		506,262		452,747
Less: Accumulated Depreciation		(101,942)		(80,702)
Property and Equipment, net		404,320		372,045
Land		33,725		29,106
Assets Under Construction		236,913		156,722
Property and Equipment, net	$	674,958	$	557,873

Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

6. LEASES

(a) Operating Leases

The Company has operating leases for its retail stores and processing and cultivation facilities located throughout the U.S., as well as corporate office space located in Illinois. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date.

All real estate leases are recorded on the balance sheet. Equipment and other non-real estate leases with an initial term of twelve months or less are not recorded on the balance sheet. Lease agreements for some locations provide for rent escalations and renewal options. Certain real estate leases require payment for fixed and variable non-lease components, such as taxes, insurance and maintenance. The Company accounts for each real estate lease and the related non-lease components together as a single component.

The Company determines if an arrangement is a lease at inception. The Company must consider whether the contract conveys the right to control the use of an identified asset. Certain arrangements require significant judgment to determine if an asset is specified in the contract and if the Company directs how and for what purpose the asset is used during the term of the contract. For the three and six months ended June 30, 2023, the Company recorded operating lease expense of $12,146 thousand and $24,368 thousand, respectively compared to operating lease expense of $10,201 thousand and $20,022 thousand for the three and six months ended June 30, 2022, respectively.

Other information related to operating leases as of June 30, 2023 and December 31, 2022 were as follows:


	June 30, 2023	December 31, 2022
Weighted average remaining lease term (years)	12.17	11.64
Weighted average discount rate	12.46%	12.42%

Maturities of lease liabilities for operating leases as of June 30, 2023 were as follows:


		Maturities of Lease Liability
Year Ending December 31,		Third Party		Related Party		Total
		(in thousands)
Remainder of 2023	$	21,641	$	287	$	21,928
2024		43,304		437		43,741
2025		41,087		343		41,430
2026		39,391		350		39,741
2027		39,672		357		40,029
2028 and Thereafter		352,023		1,728		353,751
Total Lease Payments		537,118		3,502		540,620
Less: Interest		(278,715)		(1,332)		(280,047)
Present Value of Lease Liability	$	258,403	$	2,170	$	260,573

(b) Related Party Operating Leases

The Company has leasing arrangements that are related party transactions including for certain facilities in Maryland, Massachusetts and Nevada. Wendy Berger, a director of the Company, is a principal of WBS Equities, LLC, which is the Manager of Mosaic Real Estate, LLC, and owns the facilities leased by the Company. Additionally, Mosaic Real Estate, LLC is indirectly owned in part by Ms. Berger (through the Wendy Berger 1998 Revocable Trust), Benjamin Kovler, the Chairman and Chief Executive Officer of the Company (through KP Capital, LLC), and Anthony Georgiadis, the President and a director of the Company (through Three One Four Holdings, LLC). The terms of these leases range from 7 years to 15 years. For the three and six months ended June 30, 2023, the Company recorded lease expense of $137 thousand and $276 thousand, respectively, compared to lease expense of $296 thousand and $589 thousand for the three and six months ended June 30, 2022, respectively.

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues, net of discounts	$ 252,388	$ 254,311	$ 500,924	$ 496,911
Cost of Goods Sold, net	(127,108)	(128,513)	(250,923)	(248,173)
Gross Profit	125,280	125,798	250,001	248,738
Expenses:
Selling, General, and Administrative	84,217	63,535	164,736	131,923
Total Expenses	84,217	63,535	164,736	131,923
Income From Operations	41,063	62,263	85,265	116,815
Other Income (Expense):
Other Income (Expense), net	(270)	5,583	654	17,018
Interest Income, net	1,531	624	3,262	1,524
Interest Expense, net	(2,869)	(5,399)	(6,685)	(11,469)
Total Other Income (Expense)	(1,608)	808	(2,769)	7,073
Income Before Provision for Income Taxes And Non-Controlling Interest	39,455	63,071	82,496	123,888
Provision For Income Taxes	25,765	38,340	59,401	69,471
Net Income Before Non-Controlling Interest	13,690	24,731	23,095	54,417
Net Income Attributable to Non-Controlling Interest	290	294	556	1,041
Net Income Attributable To Green Thumb Industries Inc.	$ 13,400	$ 24,437	$ 22,539	$ 53,376
Net Income per share - basic	$ 0.05	$ 0.11	$ 0.09	$ 0.23
Net Income per share - diluted	$ 0.05	$ 0.10	$ 0.09	$ 0.22
Weighted average number of shares outstanding - basic	238,000,135	236,783,625	237,700,856	236,313,896
Weighted average number of shares outstanding - diluted	238,423,288	237,762,903	239,455,964	237,869,300

Intangible Assets And Goodwill - Summary Of Estimated Annual Amortization Expense Related To Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Remainder of 2023	$ 25,487
2024	50,392
2025	50,294
2026	47,332
2027	46,803
2028 and Thereafter	343,857
Finite-Lived Intangible Assets, Net	$ 564,165	$ 589,519

Intangible Assets And Goodwill (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of intangible assets

At June 30, 2023 and December 31, 2022, intangible assets consisted of the following:


		June 30, 2023						December 31, 2022
		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
		(in thousands)						(in thousands)
Licenses and Permits	$	660,716	$	135,716	$	525,000	$	660,716	$	113,800	$	546,916
Trademarks		41,511		11,932		29,579		41,511		10,486		31,025
Customer Relationships		24,438		15,181		9,257		24,438		13,435		11,003
Non-Competition Agreements		2,565		2,236		329		2,565		1,990		575
Total Intangible Assets	$	729,230	$	165,065	$	564,165	$	729,230	$	139,711	$	589,519

Summary of estimated annual amortization expense related to intangible assets

The following table outlines the estimated annual amortization expense related to intangible assets as of June 30, 2023:


		Estimated Amortization
Year Ending December 31,		(in thousands)
Remainder of 2023	$	25,487
2024		50,392
2025		50,294
2026		47,332
2027		46,803
2028 and Thereafter		343,857
	$	564,165

Summary of Goodwill And Intangible Assets Disclosure

At June 30, 2023 and December 31, 2022 the balances of goodwill, by segment, consisted of the following:


		Retail		Consumer Packaged Goods		Total
		(in thousands)
As of December 31, 2022	$	273,802	$	315,889	$	589,691
As of June 30, 2023	$	273,802	$	315,889	$	589,691

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

Leases - Lessee Operating Lease Liability Maturity (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Remainder of 2023	$ 21,928
2024	43,741
2025	41,430
2026	39,741
2027	40,029
2028 and Thereafter	353,751
Total Lease Payments	540,620
Less: Interest	(280,047)
Present Value of Lease Liability	260,573
Third Party [Member]
Lessee, Lease, Description [Line Items]
Remainder of 2023	21,641
2024	43,304
2025	41,087
2026	39,391
2027	39,672
2028 and Thereafter	352,023
Total Lease Payments	537,118
Less: Interest	(278,715)
Present Value of Lease Liability	258,403
Related Party [Member]
Lessee, Lease, Description [Line Items]
Remainder of 2023	287
2024	437
2025	343
2026	350
2027	357
2028 and Thereafter	1,728
Total Lease Payments	3,502
Less: Interest	(1,332)
Present Value of Lease Liability	$ 2,170

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 25, 2022	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Intangible Assets, Net		$ 564,165	$ 589,519
Goodwill		589,691	$ 589,691
Subordinate Voting Shares [Member]
Business Acquisition [Line Items]
Issuance of shares under business combinations and investments, value	$ 6,070
Business combination, contigent liability		$ 6,000
Subordinate Voting Shares [Member] \| Dharma Pharmaceuticals LLC [Member]
Business Acquisition [Line Items]
Issuance of shares under business combinations and investments	822,447

- Definition

+ References + Details

Intangible Assets And Goodwill - Summary Of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 729,230	$ 729,230
Accumulated Amortization	165,065	139,711
Finite-Lived Intangible Assets, Net	564,165	589,519
Licenses And Permits [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	660,716	660,716
Accumulated Amortization	135,716	113,800
Finite-Lived Intangible Assets, Net	525,000	546,916
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	41,511	41,511
Accumulated Amortization	11,932	10,486
Finite-Lived Intangible Assets, Net	29,579	31,025
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	24,438	24,438
Accumulated Amortization	15,181	13,435
Finite-Lived Intangible Assets, Net	9,257	11,003
Non Competition Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,565	2,565
Accumulated Amortization	2,236	1,990
Finite-Lived Intangible Assets, Net	$ 329	$ 575

Income Tax Expense (Tables)

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table summarizes the Company’s income tax expense and effective tax rates for the three and six months ended June 30, 2023 and 2022:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
Income before Income Taxes	$	39,455	$	63,071	$	82,496	$	123,888
Income Tax Expense		25,765		38,340		59,401		69,471
Effective Tax Rate		65.3%		60.8%		72.0%		56.1%

Share Capital - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-Based Compensation Expense	$ 7,381	$ 6,833	$ 13,620	$ 11,484
Stock options expense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-Based Compensation Expense	4,303	3,775	8,786	6,982
Restricted Stock Units
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-Based Compensation Expense	$ 3,078	$ 3,058	$ 4,834	$ 4,502

Notes Payable (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

At June 30, 2023 and December 31, 2022, notes payable consisted of the following:


		June 30, 2023		December 31, 2022
		(in thousands)
Charitable Contributions1	$	449	$	764
Private placement debt dated April 30, 20212		242,347		237,795
Mortgage notes3		47,109		37,109
Total notes payable		289,905		275,668
Less: current portion of notes payable		(1,048)		(1,037)
Notes payable, net of current portion	$	288,857	$	274,631

1 In connection with acquisitions completed in 2017 and 2019, the Company is required to make quarterly charitable contributions of $50 thousand through October 2024 and annual charitable contributions of $250 thousand through May 2024, respectively. The net present value of these required payments has been recorded as a liability with interest rates ranging between 2.17% - 7.00%.

2 The April 30, 2021 private placement debt, as amended on October 21, 2021 (the “April 30, 2021 Notes”), were issued in a total amount of $249,934 thousand with an interest rate of 7.00%, maturing on April 30, 2025. The April 30, 2021 Notes were issued at a discount, the carrying value of which was $7,587 thousand and $12,139 thousand as of June 30, 2023 and December 31, 2022, respectively.

3 Mortgage notes with an initial value of $48,426 thousand and $38,292 thousand, respectively, were issued by the Company in connection with various operating properties, and were recorded at such gross value as of June 30, 2023 and December 31, 2022. These mortgage notes mature between August 20, 2025 and June 5, 2035 with interest rates ranging between 5.00% and 9.25%. The mortgage notes were issued at a discount, the carrying value of which was $259 thousand and $437 thousand, respectively, and are presented net of principal payments of $1,058 thousand and $746 thousand as of June 30, 2023 and December 31, 2022, respectively.

Overview and Basis of Presentation - Additional Information (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Number of Shares Outstanding, Diluted	238,423,288	237,762,903	239,455,964	237,869,300
Anti-dilutive stock options excluded from the computation of diluted earnings per share	3,399,518	1,643,117	3,473,866	1,400,582
Dilutive warrants	$ 0.05	$ 0.10	$ 0.09	$ 0.22
Stock Options Expense
Number of Shares Outstanding, Diluted			10,874,051	6,036,849
Weighted Average Number Diluted Shares Outstanding Adjustment	135,894	842,440	167,191	1,310,817
Restricted Stock Units
Number of Shares Outstanding, Diluted			3,453,460	1,024,659
Weighted Average Number Diluted Shares Outstanding Adjustment	287,259	34,451	1,587,917	34,618
Warrant
Number of Shares Outstanding, Diluted			3,734,555	3,835,278
Weighted Average Number Diluted Shares Outstanding Adjustment		102,387		209,969
Dilutive warrants	$ 0		$ 0

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and Cash Equivalents	$ 149,026	$ 177,682
Accounts Receivable, Net	39,240	30,975
Income Tax Receivable	5,335	7,473
Inventories	124,772	115,675
Prepaid Expenses	14,202	13,364
Other Current Assets	8,679	6,182
Total Current Assets	341,254	351,351
Property and Equipment, Net	674,958	557,873
Right of Use Assets, Net	239,964	242,357
Investments	75,060	74,169
Investment in Associates	25,358	25,508
Intangible Assets, Net	564,165	589,519
Goodwill	589,691	589,691
Deposits and Other Assets	2,384	3,060
TOTAL ASSETS	2,512,834	2,433,528
Current Liabilities:
Accounts Payable	27,494	18,423
Accrued Liabilities	116,890	86,971
Compensation Payable	7,809	13,476
Current Portion of Notes Payable	1,048	1,037
Current Portion of Lease Liabilities	12,245	10,906
Contingent Consideration Payable	0	11,400
Income Tax Payable	9,775	4,358
Total Current Liabilities	175,261	146,571
Long-Term Liabilities:
Lease Liabilities, Net of Current Portion	248,328	249,281
Notes Payable, Net of Current Portion and Debt Discount	288,857	274,631
Contingent Consideration Payable	32,022	30,543
Warrant Liability	0	4,520
Deferred Income Taxes	62,550	62,550
TOTAL LIABILITIES	807,018	768,096
COMMITMENTS AND CONTINGENCIES
SHARE HOLDERS' EQUITY
Share Capital	1,693,429	1,663,557
Contributed Surplus	34,421	23,233
Deferred Share Issuances	12,973	36,211
Accumulated Deficit	(35,546)	(58,085)
Stockholders' Equity Attributable to Parent, Total	1,705,277	1,664,916
Noncontrolling interests	539	516
TOTAL SHAREHOLDERS' EQUITY	1,705,816	1,665,432
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	2,512,834	2,433,528
Subordinate Voting Shares [Member]
SHARE HOLDERS' EQUITY
Share Capital	0	0
Multiple Voting Shares [Member]
SHARE HOLDERS' EQUITY
Share Capital	0	0
Super Voting Shares [Member]
SHARE HOLDERS' EQUITY
Share Capital	$ 0	$ 0

Notes Payable

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Notes Payable

. NOTES PAYABLE

At June 30, 2023 and December 31, 2022, notes payable consisted of the following:


		June 30, 2023		December 31, 2022
		(in thousands)
Charitable Contributions1	$	449	$	764
Private placement debt dated April 30, 20212		242,347		237,795
Mortgage notes3		47,109		37,109
Total notes payable		289,905		275,668
Less: current portion of notes payable		(1,048)		(1,037)
Notes payable, net of current portion	$	288,857	$	274,631

(b) Related Parties

A portion of the April 30, 2021 Notes are held by related parties as well as unrelated third-party lenders at a percentage of approximately 1% and 99%, respectively. The related parties consist of Benjamin Kovler, the Chairman and Chief Executive Officer of the Company (held through KP Capital, LLC and Outsiders Capital, LLC); Andrew Grossman, the Executive Vice President of Capital Markets of the Company (held through AG Funding Group, LLC); Anthony Georgiadis, the President and a director of the Company (held through Three One Four Holdings, LLC); and Anthony Georgiadis and William Gruver, a former director of the Company (held through ABG, LLC).

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Notes Payable - Additional Information (Detail)	6 Months Ended
Notes Payable - Additional Information (Detail)	Jun. 30, 2023
Debt held by related parties	1.00%
Debt held by unrelated third-parties	99.00%

Warrants - Schedule Of Fair Value Measurement Inputs and Valuation Techniques Used In Determining Equity Classified Warrants (Detail) - Equity Classified Warrant [Member]	6 Months Ended
	Jun. 30, 2023
Private Placement Refinancing Warrants1 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant issuance date	Oct. 15, 2021
Private Placement Refinancing Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant issuance date	Apr. 30, 2021
Dispensary Mortgage Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant issuance date	Jun. 05, 2020
Volatility \| Private Placement Refinancing Warrants1 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.73
Volatility \| Private Placement Refinancing Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.73
Volatility \| Dispensary Mortgage Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.80
Remaining Term \| Private Placement Refinancing Warrants1 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding measurement Input term	4 years
Remaining Term \| Private Placement Refinancing Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding measurement Input term	4 years
Remaining Term \| Dispensary Mortgage Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding measurement Input term	5 years
Risk Free Rate \| Private Placement Refinancing Warrants1 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.0112
Risk Free Rate \| Private Placement Refinancing Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.0074
Risk Free Rate \| Dispensary Mortgage Warrants [member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.0037

Income Tax Expense - Schedule of Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income before Income Taxes	$ 39,455	$ 63,071	$ 82,496	$ 123,888
Income Tax Expense	$ 25,765	$ 38,340	$ 59,401	$ 69,471
Effective Tax Rate	65.30%	60.80%	72.00%	56.10%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Segment Reporting

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

14. SEGMENT REPORTING

The Company operates in two segments: the cultivation, production and sale of cannabis products to retail stores (“Consumer Packaged Goods”) and retailing of cannabis to patients and consumers (“Retail”). The Company does not allocate operating expenses to these business units, nor does it allocate specific assets. Additionally, the Chief Operating Decision Maker does not review total assets or net income (loss) by segments; therefore, such information is not presented below.

The below table presents revenues by type for the three and six months ended June 30, 2023 and 2022:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
		(in thousands)				(in thousands)
Revenues, Net of Discounts
Retail	$	188,044	$	192,734	$	376,922	$	365,320
Consumer Packaged Goods		136,054		120,604		261,671		241,016
Intersegment Eliminations		(71,710)		(59,027)		(137,669)		(109,425)
Total Revenues, Net of Discounts	$	252,388	$	254,311	$	500,924	$	496,911
Depreciation and Amortization
Retail	$	9,109	$	10,127	$	17,941	$	19,960
Consumer Packaged Goods		15,125		14,071		29,794		27,228
Intersegment Eliminations		—		—		—		—
Total Depreciation and Amortization	$	24,234	$	24,198	$	47,735	$	47,188
Income Taxes
Retail	$	13,328	$	21,681	$	32,339	$	39,871
Consumer Packaged Goods		12,437		16,659		27,062		29,600
Intersegment Eliminations		—		—		—		—
Total Income Taxes	$	25,765	$	38,340	$	59,401	$	69,471

Goodwill assigned to the Consumer Packaged Goods segment as of June 30, 2023 and December 31, 2022 was $315,889 thousand and $315,889 thousand, respectively. Intangible assets, net assigned to the Consumer Packaged Goods segment as of June 30, 2023 and December 31, 2022 was $273,581 thousand and $286,922 thousand, respectively.

Goodwill assigned to the Retail segment as of June 30, 2023 and December 31, 2022 was $273,802 thousand and $273,802 thousand, respectively. Intangible assets, net assigned to the Retail segment as of June 30, 2023 and December 31, 2022 was $290,584 thousand and $302,597 thousand, respectively.

The Company’s assets are aggregated into two reportable segments (Retail and Consumer Packaged Goods). For the purposes of testing goodwill, Green Thumb has identified two reporting units which align with our reportable segments (Retail and Consumer Packaged Goods). All revenues are derived from customers domiciled in the United States and all assets are located in the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Share Capital - Non-vested Restricted Stock Shares Activity (Detail)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares, Balance \| shares	947,502
Number of Shares, Granted \| shares	3,092,835
Number of Shares, Forfeited \| shares	(235,156)
Number of Shares, Vested \| shares	(351,721)
Number of Shares, Balance \| shares	3,453,460
Weighted Average Grant Date Fair Value, Balance \| $ / shares	$ 17.91
Weighted Average Grant Date Fair Value, Granted \| $ / shares	7.65
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	11.64
Weighted Average Grant Date Fair Value, Vested \| $ / shares	15.78
Weighted Average Grant Date Fair Value, Balance \| $ / shares	$ 9.37

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Operating lease expense	$ 12,146	$ 10,201	$ 24,368	$ 20,022
Florida And Lllinois [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Operating lease expense	$ 137	$ 296	$ 276	$ 589
Maximum [Member] \| Florida And Lllinois [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Lease term	15 years		15 years
Minimum [Member] \| Florida And Lllinois [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Lease term	7 years		7 years

Warrants (Tables)

6 Months Ended

Jun. 30, 2023

Class of Warrant or Right [Line Items]

Schedule of Stockholders' Equity Note, Warrants or Rights

The following table summarizes the number of warrants outstanding as of June 30, 2023 and December 31, 2022:


	Liability Classified							Equity Classified
	Number of Shares			Weighted Average Exercise Price (C$)		Weighted Average Remaining Contractual Life		Number of Shares			Weighted Average Exercise Price (USD)		Weighted Average Remaining Contractual Life
Balance as of December 31, 2022		1,997,208	C$		18.03		1.50		1,737,347	$		31.83		3.38
Balance as of June 30, 2023		1,997,208	C$		18.03		1.01		1,737,347	$		31.83		2.88

Liability Classified Warrant [Member]

Class of Warrant or Right [Line Items]

Schedule Of Fair Value Of Warrant Liability

The following table summarizes the fair value of the liability classified warrants at June 30, 2023 and December 31, 2022:


				Fair Value
Warrant Liability	Strike Price	Warrants Outstanding		June 30, 2023		December 31, 2022		Change
				(in thousands)
Private Placement Financing Warrants Issued May 2019	C$19.39		1,606,533	$	1,414	$	3,125	$	(1,711	)
Modification Warrants Issued November 2019	C$12.04		316,947		668		1,139		(471	)
Additional Modification Warrants Issued May 2020	C$14.03		73,728		175		256		(81	)
Totals			1,997,208	$	2,257	$	4,520	$	(2,263	)

Schedule Of Fair Value Measurement Inputs and Valuation Techniques Used In Determining Warrant Liability


	June 30,	December 31,
Significant Assumptions	2023	2022
Volatility	71.66% - 76.66%	70.44% - 78.21%
Remaining Term	0.9 - 1.9 years	1.39 - 2.39 years
Risk Free Rate	4.54%	3.82% - 4.07%

Equity Classified Warrant [member]

Class of Warrant or Right [Line Items]

Schedule Of Fair Value Of Warrant Liability

June 30, 2023 and December 31, 2022:


					Issuance Date Fair Value
			Warrants		June 30,		December 31,
Warrants Included in Contributed Surplus	Strike Price		Outstanding		2023		2022
					(in thousands)
Mortgage Warrants Issued June 2020	$	9.10		35,000	$	181	$	181
Private Placement Refinance Warrants Issued April 2021	$	32.68		1,459,044		22,259		22,259
Private Placement Refinance Warrants Issued October 2021	$	30.02		243,303		2,616		2,616
Totals				1,737,347	$	25,056	$	25,056

Schedule Of Fair Value Measurement Inputs and Valuation Techniques Used In Determining Warrant Liability


Significant Assumptions	Private Placement Refinancing Warrants	Private Placement Refinancing Warrants	Dispensary Mortgage Warrants
Date of Issuance	October 15, 2021	April 30, 2021	June 5, 2020
Volatility	73%	73%	80%
Estimated Term	4 years	4 years	5 years
Risk Free Rate	1.12%	0.74%	0.37%

Investments - Schedule Of Long Term Investments (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Longterm Investments [Line Items]
Beginning balance	$ 74,169	$ 94,902
Additions	2,200	5,444
Disposals	(331)	(3,571)
Fair value adjustments	(928)	(22,606)
Transfers out	(50)	0
Ending balance	$ 75,060	$ 74,169

Share Capital

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Share Capital

9. SHARE CAPITAL

Common shares, which include the Company’s Subordinate Voting Shares, Multiple Voting Shares and Super Voting Shares, are classified as equity. Incremental costs directly attributable to the issuance of common shares are recognized as a deduction from equity. The proceeds from the exercise of stock options or warrants together with amounts previously recorded in reserves over the applicable vesting periods are recorded as share capital. Income tax relating to transaction costs of an equity transaction is accounted for in accordance with Accounting Standards Codification (“ASC”) 740, Income Taxes.

(a) Authorized

The Company has the following classes of share capital, with each class having no par value:

(i) Subordinate Voting Shares

The holders of the Subordinate Voting Shares are entitled to receive dividends which may be declared from time to time and are entitled to one vote per share at meetings of the Company’s shareholders. All Subordinate Voting Shares are ranked equally with regard to the Company’s residual assets. The Company is authorized to issue an unlimited number of no par value Subordinate Voting Shares.

(ii) Multiple Voting Shares

Each Multiple Voting Share is entitled to 100 votes per share at shareholder meetings of the Company and is exchangeable for 100 Subordinate Voting Shares. At June 30, 2023, the Company had 38,531 issued and outstanding Multiple Voting Shares, which convert into 3,853,100 Subordinate Voting Shares. The Company is authorized to issue an unlimited number of Multiple Voting Shares.

(iii) Super Voting Shares

Each Super Voting Share is entitled to 1,000 votes per share at shareholder meetings of the Company and is exchangeable for 100 Subordinate Voting Shares or one Multiple Voting Share. At June 30, 2023, the Company had 251,690 issued and outstanding Super Voting Shares which convert into 25,169,000 Subordinate Voting Shares. The Company is authorized to issue an unlimited number of Super Voting Shares.

(b) Issued and Outstanding

A reconciliation of the beginning and ending amounts of the issued and outstanding shares by class is as follows:


	Issued and Outstanding
	Subordinate Voting Shares	Multiple Voting Shares	Super Voting Shares
As at January 1, 2023	206,991,275	38,531	251,690
Distribution of contingent consideration	822,447	—	—
Distribution of deferred shares	680,089	—	—
Issuance of shares upon exercise of options	130,508	—	—
Issuances of shares upon vesting of RSUs	351,721	—	—
As at June 30, 2023	208,976,040	38,531	251,690

9. SHARE CAPITAL (Continued)

(b) Issued and Outstanding (Continued)

(i) Distribution of Deferred Shares

As part of the consideration exchanged for certain acquisitions completed throughout 2021, the Company deferred the distribution of Subordinate Voting Shares to secure the Company's indemnification rights associated with post-acquisition costs. The following table summarizes the activity during the six months ended June 30, 2023:


Related Acquisition	As at December 31, 2022	Distributed Shares	Cancelled Shares	As at June 30, 2023
Liberty Compassion, Inc.	214,768	(214,768)	—	—
Dharma Pharmaceuticals, LLC	229,878	(229,878)	—	—
Mobley Pain Management and Wellness Center, LLC and Canwell Processing, LLC	264,760	(12,305)	(84,122)	168,333
GreenStar Herbals, Inc.	161,306	(161,306)	—	—
Maryland Health and Wellness Center, Inc.	61,832	(61,832)	—	—
LeafLine Industries, LLC	386,002	—	—	386,002
Total	1,318,546	(680,089)	(84,122)	554,335

As of June 30, 2023 and December 31, 2022, the Company held deferred shares in the amount of $12,973 thousand and $36,211 thousand, respectively. In accordance with the relevant acquisition agreement, a portion of the outstanding deferred shares were cancelled in order to indemnify the Company for post-acquisition costs. As the cancellation of the deferred shares occurred outside of the measurement period, rather than an adjustment to the purchase price allocation, the Company recorded a gain of $2,784 thousand during the three and six months ended June 30, 2023. For the three and six months ended June 30, 2022, no such cancellations occurred.

(ii) Distribution of Contingent Consideration

Dharma Pharmaceuticals, LLC

In connection with the Company's 2021 acquisition of Dharma Pharmaceuticals, LLC (“Dharma”), the purchase agreement included contingent consideration of up to $65,000 thousand in Subordinate Voting Shares of Green Thumb, dependent upon the successful opening of up to five retail stores in the Virginia area within the first three years following the signing of the agreement and the legal sale of adult-use cannabis in a retail store by January 1, 2025. On June 1, 2023, the Company issued 822,447 Subordinate Voting Shares to the former owners of Dharma in connection with the successful opening of the fourth retail store in Virginia. The shares had a fair value of $6,070 thousand at the date of issuance. On June 28, 2023, the Company successfully opened a fifth retail store in Virginia. However, the shares associated with this achievement were not issued until July 2023. As the liability was no longer contingent upon a future event, the Company recorded an obligation of $6,000 thousand, within accrued liabilities on the Company's unaudited interim condensed consolidated balance sheets representing the fair value of the Subordinate Voting Shares to be issued.

9. SHARE CAPITAL (Continued)

The Company operates equity settled stock-based remuneration plans for its eligible directors, officers, employees and consultants. All goods and services received in exchange for the grant of any stock-based payments are measured at their fair value unless the fair value cannot be estimated reliably. If the Company cannot estimate reliably the fair value of the goods and services received, the Company measures their value indirectly by reference to the fair value of the equity instruments granted. For transactions with employees and others providing similar services, the Company measures the fair value of the services by reference to the fair value of the equity instruments granted. Equity settled stock-based payments under stock-based payment plans are ultimately recognized as an expense in profit or loss with a corresponding credit to equity.

In June 2018, the Company established the Green Thumb Industries Inc. 2018 Stock and Incentive Plan, which was amended by Amendment No. 1 and Amendment No. 2 thereto (as amended, the “Plan”). The maximum number of Restricted Stock Units (“RSUs”) and options issued under the Plan shall not exceed 10% of the issued and outstanding shares on an as-converted basis.

The Company recognizes compensation expense for RSUs and options on a straight-line basis over the requisite service period of the award. Non-market vesting conditions are included in the assumptions about the number of options that are expected to become exercisable. Estimates are subsequently revised if there is any indication that the number of share options expected to vest differs from the previous estimate. Any cumulative adjustment prior to vesting is recognized in the current period with no adjustment to prior periods for expense previously recognized.

Option and RSU awards generally vest over three years, and options typically have a life of five to ten years. Option grants are determined by the Compensation Committee of the Company’s Board of Directors with the option price set at no less than 100% of the fair market value of a share on the date of grant.

Stock option activity is summarized as follows:


	Number of Shares	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life

Balance as of December 31, 2022	9,577,947	$12.71	4.80
Granted	2,172,481	7.75	6.73
Exercised	(130,508)	7.03
Forfeited	(745,869)	10.75
Balance as of June 30, 2023	10,874,051	$11.92	4.69
Vested	5,666,427	$14.91
Exercisable of June 30, 2023	1,096,059	$6.56	2.04


	June 30,	December 31,
	2023	2022
Risk-free interest rate	3.06% - 3.64%	1.18% - 3.54%
Expected dividend yield	0%	0%
Expected volatility	64%	60% - 64%
Expected option life	3.5 – 4.5 years	3 – 4.5 years

As permitted under ASC 718, the Company has made an accounting policy choice to account for forfeitures when they occur.

9. SHARE CAPITAL (Continued)

The following table summarizes the number of unvested RSU awards as of June 30, 2023 and December 31, 2022 and the changes during the six months ended June 30, 2023:


	Number of Shares		Weighted Average Grant Date Fair Value
Unvested Shares at December 31, 2022	947,502	$	17.91
Granted	3,092,835		7.65
Forfeited	(235,156)		11.64
Vested	(351,721)		15.78
Unvested Shares at June 30, 2023	3,453,460	$	9.37

The stock-based compensation expense for the three and six months ended June 30, 2023 and 2022 was as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
		(in thousands)				(in thousands)
Stock options expense	$	4,303	$	3,775	$	8,786	$	6,982
Restricted Stock Units		3,078		3,058		4,834		4,502
Total Stock Based Compensation Expense	$	7,381	$	6,833	$	13,620	$	11,484

As of June 30, 2023, $51,798 thousand of total unrecognized expense related to stock-based compensation awards is expected to be recognized over a weighted-average period of 2.20 years.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

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+ Details

Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2019	Dec. 31, 2017
Investments [Line Items]
Unrealized gains and (losses) recognized on equity investments held	$ (653)	$ 6,367	$ (1,996)	$ 13,792
Fair value adjustments on equity method investments	0	0	0	(14,119)
Fair value gains (losses) on investments	577		928
Fair value of losses on equity method of investment	655		1,134
Investment in non convertible instrument	$ 22,214		$ 22,214		$ 22,214
Debt instrument interest rate	5.00%		5.00%		9.25%	7.00%	2.17%
Cannabis Companies [Member]
Investments [Line Items]
Equity interest, fair value disclosure	$ 75,060		$ 75,060		$ 74,169
Fair Value, Inputs, Level 1 [Member]
Investments [Line Items]
Equity interest, fair value disclosure	1,370		1,370		2,535
Proceeds from sale of equity interest in privately held entity			31	160
Unrealized gains and (losses) recognized on equity investments held	6,396		14,293
Fair value adjustments on equity method investments	0	(378)	0	(654)
Fair Value, Inputs, Level 3 [Member]
Investments [Line Items]
Equity interest, fair value disclosure	42,330		42,330		40,330
Fair value adjustments on equity method investments	0	(1,266)	0	(3,157)
Fair value gains (losses) on investments	0	22	0	477
Notes Receivable [Member]
Investments [Line Items]
Fair value gains (losses) on investments	$ 78		$ 206
Notes Receivable [Member] \| Fair Value, Inputs, Level 1 [Member]
Investments [Line Items]
Debt instrument interest rate	13.00%		13.00%
Notes Receivable [Member] \| Fair Value, Inputs, Level 3 [Member]
Investments [Line Items]
Fair value gains (losses) on investments	$ 78	$ 153	$ 206	$ 307
Investment in non convertible instrument	$ 9,146		$ 9,146		$ 9,090
Debt instrument interest rate	0.91%		0.91%
Minimum [Member] \| Notes Receivable [Member] \| Fair Value, Inputs, Level 3 [Member]
Investments [Line Items]
Debt instrument, Term			15 years
Maximum [Member] \| Notes Receivable [Member] \| Fair Value, Inputs, Level 3 [Member]
Investments [Line Items]
Debt instrument interest rate	10.00%		10.00%
Debt instrument, Term			5 years

Property and Equipment - Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total Property and Equipment	$ 506,262	$ 452,747
Less: Accumulated Depreciation	(101,942)	(80,702)
Property and Equipment, net	404,320	372,045
Property and Equipment, net	674,958	557,873
Land [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	33,725	29,106
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	847	847
Assets Under Construction [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	236,913	156,722
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	187,824	176,874
Equipment, Computers and Furniture [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	134,705	122,568
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	156,340	135,524
Capitalized Interest [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	$ 26,546	$ 16,934

Property and Equipment

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

3. PROPERTY AND EQUIPMENT

At June 30, 2023 and December 31, 2022, property and equipment consisted of the following:


		June 30, 2023		December 31, 2022
		(in thousands)
Buildings and Improvements	$	187,824	$	176,874
Equipment, Computers and Furniture		134,705		122,568
Leasehold Improvements		156,340		135,524
Land Improvements		847		847
Capitalized Interest		26,546		16,934
Total Property and Equipment		506,262		452,747
Less: Accumulated Depreciation		(101,942)		(80,702)
Property and Equipment, net		404,320		372,045
Land		33,725		29,106
Assets Under Construction		236,913		156,722
Property and Equipment, net	$	674,958	$	557,873

Assets under construction represent construction in progress related to both cultivation and dispensary facilities not yet completed or otherwise not ready for use.

Depreciation expense for the three and six months ended June 30, 2023 totaled $11,490 thousand and $22,381 thousand, respectively, of which $7,694 thousand and $15,050 thousand, respectively, is included in cost of goods sold. Depreciation expense for the three and six months ended June 30, 2022 totaled $9,101 thousand and $17,149 thousand, respectively, of which $5,918 thousand and $10,964 thousand, respectively, is included in cost of goods sold.

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Preparation and Statement of Compliance	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Green Thumb and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the U.S. Securities & Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and, accordingly, certain information, footnotes and disclosures normally included in the annual financial statements, prepared in accordance with GAAP have been condensed or omitted in accordance with SEC rules and regulations. The financial data presented herein should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, (the "2022 Form 10-K”). In the opinion of management, the financial data presented includes all adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. Certain previously reported amounts have been reclassified between line items to conform to the current period presentation. Results of interim periods should not be considered indicative of the results for the full year. These unaudited interim condensed consolidated financial statements include estimates and assumptions of management that affect the amounts reported in the unaudited condensed consolidated financial statements. Actual results could differ from these estimates.
Significant Accounting Policies	Significant Accounting Policies There have been no changes to the Company’s significant accounting policies as described in Note 2 to the Company's Consolidated Financial Statements included in the 2022 Form 10-K.
Earnings (Loss) per Share	Earnings per Share Basic earnings per share is calculated using the treasury stock method, by dividing the net earnings attributable to shareholders by the weighted average number of common shares outstanding during each of the periods presented. Contingently issuable shares (including shares held in escrow) are not considered outstanding common shares and consequently are not included in the earnings per share calculation. Diluted earnings per share is calculated using the treasury stock method by adjusting the weighted average number of common shares outstanding to assume conversion of all dilutive potential common shares. The Company has three categories of potentially dilutive common share equivalents: restricted stock units, stock options and warrants. As of June 30, 2023, the Company had 10,874,051 options, 3,453,460 restricted stock units and 3,734,555 warrants outstanding. As of June 30, 2022, the Company had 6,036,849 options, 1,024,659 restricted stock units and 3,835,278 warrants outstanding. three months ended June 30, 2023, the computation of diluted earnings per share included 135,894 options, 287,259 restricted stock units. For the six months ended June 30, 2023, the computation of diluted earnings per share included 167,191 options, 1,587,917 restricted stock units. There were no dilutive warrants during the three and six months ended June 30, 2023 as the strike price was greater than the average stock price for the period. For the three months ended June 30, 2022, the computation of diluted earnings per share included 842,440 options, 34,451 restricted stock units and 102,387 warrants. For the six months ended June 30, 2022, the computation of diluted earnings per share included 1,310,817 options, 34,618 restricted stock units and 209,969 warrants. For the three and six months ended June 30, 2023, the weighted average number of anti-dilutive stock options excluded from the computation of diluted earnings per share were 3,399,518 and 3,473,866, respectively. For the three and six months ended June 30, 2022, the weighted average number of anti-dilutive stock options excluded from the computation of diluted earnings per share were 1,643,117 and 1,400,582, respectively.
New Accounting Pronouncements	(e) Recently Issued Accounting Standards The Company reviews recently issued accounting standards on a quarterly basis and has determined there are no standards yet to be adopted which are relevant to the business for disclosure.

Inventories - Summary of inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Raw Material	$ 1,530	$ 3,070
Packaging and Miscellaneous	10,695	9,847
Work in Process	52,536	57,287
Finished Goods	64,391	49,268
Reserve for Obsolete Inventory	(4,380)	(3,797)
Total Inventories	$ 124,772	$ 115,675

Share Capital - Summary Of Weighted Average Grant Date Fair Value And Total Fair Value Of RSUs Vested (Detail)	6 Months Ended
	Jun. 30, 2023 $ / shares
Weighted Average Grant Date Fair Value And Total Fair Value Of RSUs Vested [Line Items]
Weighted average grant date fair value (per share) of RSUs granted (CAD)	$ 7.65

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Disclosure Text Block Supplement [Abstract]

Fair Value Measurements

13. FAIR VALUE MEASUREMENTS

The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers all related factors of the asset by market participants in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions, and credit risk.

The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels, and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;

Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; and

Level 3 – Inputs for the asset or liability that are not based on observable market data.

(a) Financial Instruments

The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, investments, accounts payable and accrued liabilities, notes payable, warrant liability, and contingent consideration payable.

It was not practicable to estimate the fair value of the Company's long-term notes payable, which consist of charitable contributions, private placement debt and mortgage notes, since there were no quoted prices or active trading markets. The carrying amount of notes payable at June 30, 2023 and December 31, 2022 was $289,905 thousand and $275,668 thousand, which includes $1,048 thousand and $1,037 thousand, respectively, of short-term debt due within one year.

Financial instruments recorded at fair value are classified using a fair value hierarchy that reflects the significance of the inputs to fair value measurements. The fair values of the Company’s financial instruments associated with each of the three levels of the hierarchy are:


		As of June 30, 2023
	(in thousands)
		Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	149,026	$	—	$	—	$	149,026
Investments		23,584		—		51,476		75,060
Contingent Consideration Payable		—		—		(32,022)		(32,022)
Warrant Liability		—		—		(2,257)		(2,257)
	$	172,610	$	—	$	17,197	$	189,807


		As of December 31, 2022
	(in thousands)
		Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	177,682	$	—	$	—	$	177,682
Investments		24,749		—		49,420		74,169
Contingent Consideration Payable		—		—		(41,943)		(41,943)
Warrant Liability		—		—		(4,520)		(4,520)
	$	202,431	$	—	$	2,957	$	205,388

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Other information related to operating leases

Other information related to operating leases as of June 30, 2023 and December 31, 2022 were as follows:


	June 30, 2023	December 31, 2022
Weighted average remaining lease term (years)	12.17	11.64
Weighted average discount rate	12.46%	12.42%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities for operating leases as of June 30, 2023 were as follows:


		Maturities of Lease Liability
Year Ending December 31,		Third Party		Related Party		Total
		(in thousands)
Remainder of 2023	$	21,641	$	287	$	21,928
2024		43,304		437		43,741
2025		41,087		343		41,430
2026		39,391		350		39,741
2027		39,672		357		40,029
2028 and Thereafter		352,023		1,728		353,751
Total Lease Payments		537,118		3,502		540,620
Less: Interest		(278,715)		(1,332)		(280,047)
Present Value of Lease Liability	$	258,403	$	2,170	$	260,573

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Share Capital [Member]	Contributed Surplus [Member]	Deferred Share Issuance [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Beginning balance at Dec. 31, 2021	$ 1,619,478	$ 1,633,672	$ 21,245	$ 36,262	$ (70,063)	$ (1,638)
Noncontrolling interests adjustment for change in ownership		2,379	(17,735)			15,356
Issuance of shares under business combinations and investments	1,406	1,406
Shares issued as contingent consideration	13,111	13,111
Exercise of options and RSUs	1,603	7,528	(5,925)
Shares issued for settlement of business obligation	1,000	904	96
Stock based compensation	11,484		11,484
Distributions to limited liability company unit holders	(14,445)					(14,445)
Net income	54,417				53,376	1,041
Ending balance at Jun. 30, 2022	1,688,054	1,659,000	9,165	36,262	(16,687)	314
Beginning balance at Mar. 31, 2022	1,654,961	1,653,703	5,966	36,262	(41,124)	154
Exercise of options and RSUs	663	4,393	(3,730)
Shares issued for settlement of business obligation	1,000	904	96
Stock based compensation	6,833		6,833
Distributions to third party and limited liability company unit holders	(134)					(134)
Net income	24,731				24,437	294
Ending balance at Jun. 30, 2022	1,688,054	1,659,000	9,165	36,262	(16,687)	314
Beginning balance at Dec. 31, 2022	1,665,432	1,663,557	23,233	36,211	(58,085)	516
Distribution of Contingent Consideration	6,070	6,070
Issuance of deferred shares		20,454		(20,454)
Indemnification of deferred shares associated with post acquisition costs	(2,784)	0		(2,784)
Exercise of options and RSUs	916	3,348	(2,432)
Shares issued for settlement of business obligation	0
Stock based compensation	13,620		13,620
Distributions to third party and limited liability company unit holders	(533)					(533)
Net income	23,095				22,539	556
Ending balance at Jun. 30, 2023	1,705,816	1,693,429	34,421	12,973	(35,546)	539
Beginning balance at Mar. 31, 2023	1,681,146	1,683,671	28,959	17,105	(48,946)	357
Distribution of Contingent Consideration	6,070	6,070
Issuance of deferred shares		1,348		(1,348)
Indemnification of deferred shares associated with post acquisition costs		0		(2,784)		(2,784)
Exercise of options and RSUs	421	2,340	(1,919)
Stock based compensation	7,381		7,381
Distributions to third party and limited liability company unit holders	(108)					(108)
Net income	13,690				13,400	290
Ending balance at Jun. 30, 2023	$ 1,705,816	$ 1,693,429	$ 34,421	$ 12,973	$ (35,546)	$ 539

Commitments and Contingencies - Additional of Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) Lawsuit
Disclosure of Commitments and Contingencies [Line Items]
Loss contingency, number of plaintiffs \| Lawsuit	0
Loss Contingency	$ 900
Construction Commitments [member]
Disclosure of Commitments and Contingencies [Line Items]
Contractual obligation	$ 22,000

Investments (Tables)

6 Months Ended

Jun. 30, 2023

Investments [Abstract]

Schedule Of Long Term Investments

The following table summarizes the changes in the Company’s investments during the six months ended June 30, 2023 and year ending December 31, 2022:


		June 30, 2023		December 31, 2022
	(in thousands)
Beginning	$	74,169	$	94,902
Additions		2,200		5,444
Disposals		(331)		(3,571)
Fair value adjustment		(928)		(22,606)
Transfers and other		(50)		—
Ending	$	75,060	$	74,169

Segment Reporting - Schedule of Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 252,388	$ 254,311	$ 500,924	$ 496,911
Depreciation and Amortization	24,234	24,198	47,735	47,188
Income Taxes	25,765	38,340	59,401	69,471
Operating Segments [Member] \| Consumer Packaged Goods Segment [Member]
Segment Reporting Information [Line Items]
Revenues	136,054	120,604	261,671	241,016
Depreciation and Amortization	15,125	14,071	29,794	27,228
Income Taxes	12,437	16,659	27,062	29,600
Operating Segments [Member] \| Retail Segment [Member]
Segment Reporting Information [Line Items]
Revenues	188,044	192,734	376,922	365,320
Depreciation and Amortization	9,109	10,127	17,941	19,960
Income Taxes	13,328	21,681	32,339	39,871
Operating Segments [Member] \| Intersegment Eliminations and Corporate [Member]
Segment Reporting Information [Line Items]
Revenues	(71,710)	(59,027)	(137,669)	(109,425)
Depreciation and Amortization
Income Taxes

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

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+ Details

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2023	Aug. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Securities Act File Number	000-56132
Entity Registrant Name	GREEN THUMB INDUSTRIES INC.
Entity Central Index Key	0001795139
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	325 West Huron Street
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60654
Entity Tax Identification Number	98-1437430
City Area Code	312
Local Phone Number	471-6720
Entity Incorporation, State or Country Code	A1
Document Quarterly Report	true
Document Transition Report	false
Subordinate Voting Shares [Member]
Document Information [Line Items]
Title of 12(g) Security	Subordinate Voting Shares
Super Voting Shares [Member]
Document Information [Line Items]
Title of 12(g) Security	Super Voting Shares
Multiple Voting Shares [Member]
Document Information [Line Items]
Title of 12(g) Security	Multiple Voting Shares
Forecast [Member] \| Subordinate Voting Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		209,739,033
Forecast [Member] \| Super Voting Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		25,169,000
Forecast [Member] \| Multiple Voting Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,853,100

Condensed Consolidated Balance Sheets (Parenthetical) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Subordinate Voting Shares [Member]
Common Stock, Shares Authorized	Unlimited	Unlimited
Common Stock, Shares, Issued	208,976,040	206,991,275
Common Stock, Shares, Outstanding	208,976,040	206,991,275
Multiple Voting Shares [Member]
Common Stock, Shares Authorized	Unlimited	Unlimited
Common Stock, Shares, Issued	38,531	38,531
Common Stock, Shares, Outstanding	38,531	38,531
Super Voting Shares [Member]
Common Stock, Shares Authorized	Unlimited	Unlimited
Common Stock, Shares, Issued	251,690	251,690
Common Stock, Shares, Outstanding	251,690	251,690

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Revenues

The below table presents revenues by type for the three and six months ended June 30, 2023 and 2022:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
		(in thousands)				(in thousands)
Revenues, Net of Discounts
Retail	$	188,044	$	192,734	$	376,922	$	365,320
Consumer Packaged Goods		136,054		120,604		261,671		241,016
Intersegment Eliminations		(71,710)		(59,027)		(137,669)		(109,425)
Total Revenues, Net of Discounts	$	252,388	$	254,311	$	500,924	$	496,911
Depreciation and Amortization
Retail	$	9,109	$	10,127	$	17,941	$	19,960
Consumer Packaged Goods		15,125		14,071		29,794		27,228
Intersegment Eliminations		—		—		—		—
Total Depreciation and Amortization	$	24,234	$	24,198	$	47,735	$	47,188
Income Taxes
Retail	$	13,328	$	21,681	$	32,339	$	39,871
Consumer Packaged Goods		12,437		16,659		27,062		29,600
Intersegment Eliminations		—		—		—		—
Total Income Taxes	$	25,765	$	38,340	$	59,401	$	69,471

Notes Payable - Schedule of Debt (Detail) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Debt Instrument [Line Items]

Total notes payable

$ 289,905

$ 275,668

Less: current portion of notes payable

(1,048)

(1,037)

Notes payable, net of current portion

288,857

274,631

Acquired Debt [member]

Debt Instrument [Line Items]

Total notes payable

^[1]

449

764

Private Placement Debt April 30, 2021 [Member]

Debt Instrument [Line Items]

Total notes payable

^[2]

242,347

237,795

Mortgage Notes [Member]

Debt Instrument [Line Items]

Total notes payable

^[3]

$ 47,109

$ 37,109

[1]	1 In connection with acquisitions completed in 2017 and 2019, the Company is required to make quarterly charitable contributions of $50 thousand through October 2024 and annual charitable contributions of $250 thousand through May 2024, respectively. The net present value of these required payments has been recorded as a liability with interest rates ranging between 2.17% - 7.00%.
[2]	2 The April 30, 2021 private placement debt, as amended on October 21, 2021 (the “April 30, 2021 Notes”), were issued in a total amount of $249,934 thousand with an interest rate of 7.00%, maturing on April 30, 2025. The April 30, 2021 Notes were issued at a discount, the carrying value of which was $7,587 thousand and $12,139 thousand as of June 30, 2023 and December 31, 2022, respectively.
[3]	3 Mortgage notes with an initial value of $48,426 thousand and $38,292 thousand, respectively, were issued by the Company in connection with various operating properties, and were recorded at such gross value as of June 30, 2023 and December 31, 2022. These mortgage notes mature between August 20, 2025 and June 5, 2035 with interest rates ranging between 5.00% and 9.25%. The mortgage notes were issued at a discount, the carrying value of which was $259 thousand and $437 thousand, respectively, and are presented net of principal payments of $1,058 thousand and $746 thousand as of June 30, 2023 and December 31, 2022, respectively.

Warrants - Additional Information (Detail) - Liability Classified Warrant [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Class of Warrant or Right [Line Items]
Change in Fair value of warrants liability			$ 2,263
Other Income (Expense) [Member]
Class of Warrant or Right [Line Items]
Change in Fair value of warrants liability	$ 621	$ 13,843	$ 2,263	$ 21,772

Other Income (Expense)

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Other Income (Expense)

11. OTHER INCOME (EXPENSE)

For the three and six months ended June 30, 2023 and 2022 other income (expense) was comprised of the following:


		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
		(in thousands)				(in thousands)
Fair value adjustments on equity investments	$	(655)	$	(8,018)	$	(1,134)	$	(17,627)
Fair value adjustments on equity method investments		—		—		—		14,119
Fair value adjustments on warrants issued		621		13,843		2,263		21,772
Earnings (loss) from equity method investments		(432)		(738)		(750)		(1,941)
Other		196		496		275		695
Total Other Income (Expense)	$	(270)	$	5,583	$	654	$	17,018