0001656472-21-000009 | 10-K | XBRL Viewer

15,361,000

11,619,000

8,151,000

2,872,000

2,090,000

807,000

5,328,000

Total operating expenses

153,514,000

103,511,000

26,658,000

Operating loss

(179,347,000)

(121,108,000)

(20,445,000)

Other income (expense)

Interest income, net

18,415,000

27,969,000

81,000

^[1]

129,254,000

1,276,819,000

Gain on disposal of other investments

(40,000,000)

4,789,000

16,277,000

164,000

Share of loss from investments in equity accounted investees

(4,510,000)

(2,009,000)

(723,000)

(40,000)

(32,208,000)

Total other income (expense)

(1,834,000)

197,000

106,074,000

1,287,045,000

(478,000)

Income (loss) before income taxes

(73,273,000)

1,165,937,000

(20,923,000)

Income (loss) from continuing operations

1,347,000

(74,620,000)

1,165,937,000

(20,923,000)

(650,000)

(363,000)

(894,000)

Non-controlling interests

(75,270,000)

1,165,574,000

(21,817,000)

Net income (loss) attributable to:

Cronos Group

(73,137,000)

1,166,506,000

(21,636,000)

(2,133,000)

(932,000)

(181,000)

Basic (in dollars per share)

$ (75,270,000)

$ 1,165,574,000

$ (21,817,000)

Net income (loss) per share

$ (0.21)

$ 3.76

$ (0.12)

Diluted (in dollars per share)

^[2]

$ (0.21)

$ 3.33

$ (0.12)

Weighted average number of outstanding shares

Basic (in shares)

351,576,848

310,067,179

172,269,170

Diluted (in shares)

^[2]

351,576,848

342,811,992

172,269,170

Statement of Comprehensive Income [Abstract]

Foreign exchange gain (loss) on translation

$ (75,270,000)

$ 1,165,574,000

$ (21,817,000)

Other comprehensive income (loss)

14,951,000

37,687,000

(12,337,000)

Gain on revaluation and disposal of other investments, net of tax

3,000

Total other comprehensive income (loss)

14,951,000

37,687,000

(12,334,000)

Comprehensive income (loss)

(60,319,000)

1,203,261,000

(34,151,000)

Comprehensive income (loss) attributable to:

Cronos Group

(57,976,000)

1,204,214,000

(33,964,000)

Non-controlling interests

(2,343,000)

(953,000)

(187,000)

Comprehensive income (loss)

$ (60,319,000)

$ 1,203,261,000

$ (34,151,000)

[1]	Refer to Note 14 in the notes to the consolidated financial statements
[2]	In computing diluted earnings per share, incremental common shares are not considered in periods in which a net loss is reported, as the inclusion of the common share equivalents would be anti-dilutive.

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Share capital	Additional paid-in capital	Retained earnings (accumulated deficit)	Accumulated other comprehensive income (loss)	Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2017		149,360,603
Beginning balance at Dec. 31, 2017	$ 63,733	$ 62,834	$ 4,734	$ (6,293)	$ 2,458	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)		15,677,143
Shares issued	115,510	$ 115,510
Share issuance costs	(7,577)	$ (7,577)
Vesting of options	8,151		8,151
Options exercised (in shares)		567,940
Options exercised	435	$ 671	(220)	(16)
Warrants exercised (in shares)		13,114,336
Warrants exercised	2,161	$ 3,563	(1,402)
Contribution by non-controlling interests	287					287
Net income (loss)	(21,817)			(21,636)		(181)
Other comprehensive income (loss)	(12,334)				(12,328)	(6)
Ending balance (in shares) at Dec. 31, 2018		178,720,022
Ending balance at Dec. 31, 2018	148,549	$ 175,001	11,263	(27,945)	(9,870)	100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)		155,773,757
Shares issued	304,821	$ 304,411	410
Share issuance costs	(3,722)	$ (3,722)
Vesting of options	$ 11,619		11,619
Options exercised (in shares)	282,572	190,349
Options exercised	$ (898)	$ 368	(351)	(915)
Warrants exercised (in shares)		7,390,961
Warrants exercised	1,438	$ 2,034	(596)
Vesting of restricted share units	889		889
Top-up Rights exercised (in shares)		6,742,383
Top-up Rights exercised	83,073	$ 83,073
Net income (loss)	1,165,574			1,166,506		(932)
Other comprehensive income (loss)	37,687				37,708	(21)
Ending balance (in shares) at Dec. 31, 2019		348,817,472
Ending balance at Dec. 31, 2019	1,749,030	$ 561,165	23,234	1,137,646	27,838	(853)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)		0
Vesting of options	$ 7,185		7,185
Options exercised (in shares)	2,131,939	1,266,130
Options exercised	$ 9	$ 1,586	(1,577)
Restricted share units settled (in shares)		414,088
Warrants exercised (in shares)		9,755,642
Warrants exercised	107	$ 1,244	(1,137)
Vesting of restricted share units	8,176		8,176
Taxes withheld on vesting of restricted share units	(2,148)		(2,148)
Vesting of common shares issued in connection with the use of certain publicity rights in brand development	2,863	$ 2,000	863
Top-up Rights exercised (in shares)		0
Top-up Rights exercised	3,265	$ 3,265
Net income (loss)	(75,270)			(73,137)		(2,133)
Other comprehensive income (loss)	14,951				15,161	(210)
Ending balance (in shares) at Dec. 31, 2020		360,253,332
Ending balance at Dec. 31, 2020	$ 1,708,168	$ 569,260	$ 34,596	$ 1,064,509	$ 42,999	$ (3,196)

Consolidated Statements of Cash Flows - USD ($)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Operating activities

$ (75,270,000)

$ 1,165,574,000

$ (21,817,000)

Items not affecting cash:

^[1]

(129,254,000)

(1,276,819,000)

Provisions for inventory and doubtful accounts

40,000,000

Inventory write-down

26,055,000

29,173,000

3,741,000

136,000

15,361,000

11,619,000

8,151,000

Share of loss (income) from equity accounted investees

7,045,000

3,913,000

1,937,000

4,510,000

2,009,000

723,000

Gain on disposal of other investments

(4,789,000)

(16,277,000)

(164,000)

Non-cash sales and marketing

2,863,000

410,000

Non-cash repurposing costs

1,347,000

4,439,000

Other non-cash operating activity expense (income)

(123,000)

(243,000)

(9,000)

Net changes in non-cash working capital

(33,943,000)

(54,208,000)

3,662,000

Net cash provided by (used in) operating activities

(142,457,000)

(130,274,000)

(7,517,000)

Investing activities

Proceeds from (purchase of) short-term investments, net

95,404,000

Proceeds from (purchase of) short-term investments, net

(299,923,000)

Investments in equity accounted investees

(1,658,000)

(480,000)

Proceeds from sale of other investments

4,789,000

19,614,000

747,000

Advances to joint ventures

(15,135,000)

(5,358,000)

Purchase of property, plant and equipment, net of disposals

(31,412,000)

(38,664,000)

(88,308,000)

Purchase of intangible assets

(3,979,000)

(289,000)

(278,000)

Acquisition of Redwood

(224,295,000)

Advances on loans receivable

(44,652,000)

(43,337,000)

Other non-cash investing activity expense (income)

415,000

(231,000)

Net cash provided by (used in) investing activities

20,150,000

(603,272,000)

(93,908,000)

Financing activities

Advance to non-controlling interests

(1,019,000)

Repayment of lease obligations

(2,414,000)

(919,000)

Withholding taxes paid on equity awards

(2,148,000)

(915,000)

(16,000)

Proceeds from exercise of Top-up Rights

67,051,000

Proceeds from exercise of warrants and options

116,000

1,455,000

2,612,000

Share issuance costs

(3,722,000)

(7,577,000)

Proceeds from construction loan payable

11,583,000

Repayment of construction loan payable

(15,971,000)

Advance under Credit Facility

48,715,000

Repayment of Credit Facility

(48,309,000)

Net cash provided by (used in) financing activities

(5,465,000)

1,856,941,000

122,112,000

Effect of foreign currency translation on cash and cash equivalents

6,102,000

52,371,000

(4,085,000)

Increase in cash and cash equivalents

(121,670,000)

1,175,766,000

16,602,000

Cash and cash equivalents, beginning of period

1,199,693,000

23,927,000

7,325,000

Cash and cash equivalents, end of period

1,078,023,000

1,199,693,000

23,927,000

Altria Investment

Financing activities

Proceeds from issuance of common stock

1,809,556,000

Share issuance costs

(3,722,000)

Bought Deal Offerings

Financing activities

Proceeds from issuance of common stock

$ 0

115,510,000

Share issuance costs

$ (7,577,000)

[1]	Refer to Note 14 in the notes to the consolidated financial statements

Background	12 Months Ended
Background	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Background Cronos Group Inc. (“Cronos Group” or the “Company”) is incorporated in the Province of British Columbia and under the British Columbia Business Corporations Act with principal executive offices at 111 Peter St. Street, Suite 300, Toronto, Ontario, M5V 2H1. The Company’s common shares are currently listed on the Toronto Stock Exchange (“TSX”) and Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CRON.” Cronos Group is an innovative global cannabinoid company, with international production and distribution across five continents. The Company is committed to building disruptive intellectual property by advancing cannabis research, technology and product development and is seeking to build an iconic brand portfolio. Cronos Group’s brand portfolio includes PEACE NATURALS™, a global wellness platform; two adult-use brands, COVE™ and Spinach™; and three U.S hemp-derived consumer products brands, Lord Jones™, Happy Dance™ and PEACE+™. Cronos Group has established four strategic joint ventures in Canada, Israel, and Colombia. Cronos Israel (as defined herein) is consolidated for financial reporting purposes. The Company also holds approximately 31% of the issued capital of Cronos Australia Limited (“Cronos Australia”) and accounts for its investment in Cronos Australia under the equity method of accounting. For additional discussion regarding the joint ventures and strategic investment, see Note 6.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(a)Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the dates of the consolidated financial statements and the reported amounts of net revenues and expenses during the reporting periods. The accounting policies adopted in the preparation of the consolidated financial statements were effective as of January 1, 2020.

(b)Segment structure

The Company undertook a realignment of its management structure along geographic regions in September 2019. As a result, effective September 2019, the Company’s results are reported through the following operating segments: United States and Rest of World. Prior period amounts contained in these consolidated financial statements have been adjusted to conform to the new segment presentation. Refer to Note 29 for additional information.

(c)Basis of consolidation

The accompanying consolidated financial statements include the accounts of the Company, and all entities in which the Company has a controlling voting interest or is the primary beneficiary of a variable interest as of and for the fiscal years ended December 31, 2020, December 31, 2019 and December 31, 2018. The Company assesses control under the variable interest entity (“VIE”) model to determine whether the Company is the primary beneficiary of that entity’s operations. If an entity is not deemed to be a VIE, the Company consolidates the entity if the Company has a controlling voting interest. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases. Investments in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, but does not have control, are accounted for under the equity method of accounting. The Company consolidates the financial results of the following entities, which the Company controls:

Subsidiaries

Jurisdiction of incorporation

Incorporation date

Ownership interest (ii)

Cronos Israel G.S. Cultivation Ltd.(i)

Israel

February 4, 2018

70%

Cronos Israel G.S. Manufacturing Ltd.(i)

Israel

September 4, 2018

90%

Cronos Israel G.S. Store Ltd.(i)

Israel

June 28, 2018

90%

Cronos Israel G.S. Pharmacy Ltd.(i)

Israel

February 15, 2018

90%

(i)These Israeli entities are collectively referred to as “Cronos Israel.”

(ii)“Ownership interest” is defined as the proportionate share of net income to which the Company is entitled; equity interest may differ from ownership interest as described herein.

In the consolidated statements of net income (loss) and comprehensive income (loss), the net income (loss) and comprehensive income (loss) are attributed to the equity holders of the Company and to the non-controlling interests. Non-controlling interests in the equity of Cronos Israel are presented separately in the shareholders’ equity (deficit) section of the consolidated balance sheets and consolidated statements of shareholders’ equity (deficit). All intercompany transactions and balances are eliminated upon consolidation.

(d)Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Significant estimates and assumptions include, among other things, valuation of derivative liabilities, fair value of assets and liabilities assumed in business combinations, impairment of goodwill, inventory write-downs, valuation allowance on deferred income tax assets and uncertain tax liabilities. Actual results could differ from those estimates.

(e)Revenue recognition

The Company’s contracts with customers for the sale of dried cannabis, cannabis oil, cannabinoid-derived products and U.S. hemp-derived personal care products consist of one performance obligation. The Company has concluded that revenue from the sale of these products should be recognized at the point in time when control is transferred to the customer, which is on shipment or delivery, depending on the contract. Revenue is recognized at the transaction price, which is the amount of consideration to which the Company expects to be entitled in exchange for transferring promised goods to a customer.

Net revenue before excise taxes from sale of goods, as presented in the consolidated statements of net income (loss) and comprehensive income (loss), represents revenue from the sale of goods less expected price discounts, and allowances for customer returns. Net revenue before excise taxes excludes excise taxes, which the Company pays as principal and excludes duties and taxes collected on behalf of third parties. Excise taxes are a production tax classified as government remittances payable, which when applicable, become payable when a product is delivered to the customer and are not directly related to the value of revenue.

The Company treats shipping and handling activities as a fulfillment cost, classified as cost of sales. Accordingly, the Company accrues all fulfillment costs related to the shipping and handling of consumer goods at the time of shipment. Within the Company's Rest of World segment, dried cannabis sales outside of Canada may include profit sharing arrangements with distributors which give rise to variable consideration. If the consideration in a contract includes a variable amount, the Company estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated as the most likely amount, based on the Company’s historical information, at contract inception.

The Company’s payment terms vary by customer and product type. For individual consumer sales, payment is due prior to the transfer of control.

The Company elected to treat the costs incurred to obtain a contract, primarily related to sales commissions, as an expense in the period incurred and not an asset to be capitalized, as the amortization period of the related asset would be less than one year. Accordingly, the Company will expense the costs to obtain a contract in the period incurred.

(f)Investments

Variable interest entities (“VIE”)

A VIE is an entity having either a total equity investment that is insufficient to finance its activities without additional subordinated financial support or equity investors at risk that lack the ability to control the entity’s activities. Variable interests are investments or other interests that will absorb portions of a VIE’s expected losses or receive portions of the VIE’s expected residual returns. The Company evaluates whether it is the primary beneficiary of each VIE it identifies on an ongoing basis and considers the impact of any reconsideration events. The primary beneficiary is the party that has both the power to direct the activities that most significantly impact the VIE and holds a variable interest that could potentially be significant to the VIE. To make this determination the Company considers both quantitative and qualitative factors regarding the nature, size and form of its involvement with the VIE. The Company consolidates the VIE when it is determined that it is the primary beneficiary of the VIE.

Equity method investments

The Company accounts for investments in companies over which it has the ability to exercise significant influence but does not hold a controlling financial interest, using the equity method. Under the equity method, the Company records its proportionate share of income or losses in the consolidated statements of net income (loss) and comprehensive income (loss). If the current fair value of an investment falls below its carrying amount, this may indicate that an impairment loss should be recorded. Any impairment losses recognized cannot be reversed in subsequent periods.

(g)Inventory

Inventory is comprised of raw materials, finished goods and work-in-progress such as pre-harvested cannabis plants, by-products to be extracted, oils, gel caps, tinctures, and boxes. The costs of growing cannabis, including but not limited to labor, utilities, nutrition and irrigation, are capitalized into inventory until the time of harvest.

Inventory is stated at the lower of cost and net realizable value, determined using weighted average cost. Cost includes expenditures directly related to manufacturing and distribution of the products. Primary costs include consumables (insect control, fertilizers, soil), packaging, shipping, direct labor, overhead, supplies and small tools, and the depreciation of manufacturing equipment and production facilities determined at normal capacity. Manufacturing overhead and related expenses include salaries, wages, employee benefits, rent, utilities, security, and property taxes.

Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. At the end of each reporting period, the Company performs an assessment of inventory obsolescence to measure inventory at the lower of cost and net realizable value. Factors considered in the determination of obsolescence include slow-moving or non-marketable products. During the year ended December 31, 2020, we incurred significant inventory write-downs driven by pricing pressures in the marketplace and will continue assessing pricing pressures on the value of inventory at the end of each reporting period. See Note 5.

(h)Definite life intangible assets

Intangible assets are recorded at cost less any accumulated amortization and accumulated impairment losses. Intangible assets acquired through a business combination are measured at fair value at the acquisition date.

The Company capitalizes certain costs incurred in connection with its enterprise software, which include external direct costs of materials and services consumed in developing or obtaining internal-use software, payroll and payroll-related costs for employees who are directly associated with and who devote time to the development of the software for the function intended. All other costs are expensed as incurred.

Intangible assets with finite useful lives are amortized over their estimated useful lives using the following methods and rates:


	Method	Rate
Software	Straight-line	5 years
Enterprise resource planning (“ERP”) software	Straight-line	5 years
Health Canada licenses	Straight-line	Useful life of corresponding facilities
Israeli codes(i)	Straight-line	Useful life of corresponding facilities

(i) The preliminary licenses granted to Kibbutz Gan Shmuel (the Cronos Israel joint venture partner) by the Medical Cannabis Unit of the Israeli Ministry of Health in early 2017 (the “Israeli codes”) were transferred by non-controlling interests to Cronos Israel in exchange for equity interests in the Cronos Israel entities specified above.

Amortization begins when assets become available for use. The estimated useful life, amortization method, and rate are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis.

(i)Property, plant & equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:

Rate

Building

15 to 25 years

Furniture and equipment

5 to 7 years

Computer equipment

5 years

Leasehold improvements

Lesser of term of lease and useful life

Equipment under finance lease

Lesser of term of lease and useful life

When assets are disposed of, the cost and accumulated depreciation are removed from the respective accounts and any related gain or loss is recognized. Maintenance and repairs are charged to expense as incurred. Significant expenditures, which increase productivity or extend the useful life of the asset, are capitalized.

Interest incurred relating to construction or expansion of buildings is capitalized to construction in progress. The Company ceases the capitalization of interest when construction activities are substantially completed and the facility is available for use. At this point, construction in progress is transferred to the appropriate asset class. Available for use is defined as the point at which the related building receives the requisite regulatory licenses to (i) possess cannabis, (ii) obtain dried cannabis, fresh cannabis, cannabis plants or cannabis plant seeds by cultivating, propagating and harvesting cannabis, and (iii) produce cannabis, other than obtaining it by cultivating, propagating, or harvesting. Depreciation commences at the point the assets are available for use.

(j)Leases

The Company enters into leases in the normal course of business, primarily for the land-use rights, office premises, and equipment used in the production of its products. At the inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company performs an analysis over the classification of the lease agreement as either an operating lease or finance lease.

A right-of-use asset and the related lease obligation associated with the lease are recorded at the inception of the lease. The right-of-use asset’s recorded amount is based on the present value of future lease payments over the lease term at the commencement date plus any initial direct costs incurred. If the rate implicit in the lease is not readily determinable for the Company’s operating leases, an incremental borrowing rate is generally used based on information available at the lease commencement date to determine the present value of future lease payments. Subsequent changes to these lease payments due to rate updates are recorded as lease expense in the period incurred. Leases with a term of 12 months or less are not recorded on the balance sheet as a lease.

The right-of-use asset is subject to impairment testing whenever events or changes in circumstances indicate the carrying value of the asset may not be recoverable. The leased asset is amortized over the shorter of the lease term or its estimated useful life if title does not transfer to the Company, while the leased asset is depreciated in accordance with the Company’s depreciation policy if the title is to eventually transfer to the Company.

The Company’s lease agreements generally exclude non-lease components. As a result, non-lease components are accounted for separately for all classes of assets and expensed as incurred. In addition, the Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. For finance leases, from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term, the right-of-use asset is amortized on a straight-line basis and the interest expense is recognized on the lease liability using the effective interest method. For operating leases, lease expense is recognized on a straight-line basis over the term of the lease and presented as a single charge in the consolidated statements of net income (loss) and comprehensive income (loss).

(k)Impairment of long-lived assets

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The Company groups assets at the lowest level for which cash flows are separately identifiable, referred to as an asset group. The Company prepares projected undiscounted cash flow analyses for each asset or asset group. If the sum of the undiscounted cash flow is less than the carrying value of the asset or asset group, an impairment loss is recognized equal to the excess of the carrying value over the fair value, if any. Impairment losses on assets held for sale are based on the fair value, less costs to sell.

Goodwill and indefinite life intangible assets are not amortized. Goodwill and indefinite life intangible assets are reviewed for impairment annually or more frequently when events or changes in circumstances indicate that fair value of the reporting unit has been reduced to less than its carrying value. The Company performs an impairment test annually in the fourth quarter by comparing the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company determined that it has two reporting units: the U.S. reporting unit and the Rest of World reporting unit.

(l)Repurposing charges

The Company’s repurposing charges primarily include employee termination benefits and refurbishment costs. The recognition of repurposing charges requires the Company make certain judgments and estimates regarding the nature, timing, and amount of costs associated with the planned activity. To the extent actual results differ from estimates and assumptions, a revision to the estimated liabilities, requiring the recognition of additional repurposing charges or the reduction of liabilities already recognized may be required. At the end of each reporting period, the Company evaluates the remaining accrued balances to ensure these balances are properly stated and the utilization of the reserves are for their intended purpose in accordance with planned activity.

(m)Capital stock

Capital stock is presented at the fair value at the time of issuance of the shares issued. Costs related to the issuance of shares are reported in equity, net of tax, as a deduction from the issuance proceeds.

(n)Foreign currency

The Company’s functional currency is the Canadian dollar (“C$”). Prior to the year ended December 31, 2019, the Company reported its financial results in C$, however following the change in the Company’s status from foreign private issuer to a United States (“U.S.”) domestic issuer, the financial results are now reported in U.S dollars (“dollars” or “$”). Functional currencies for the entities in these consolidated financial statements are their respective local currencies, including C$, Australian dollars (“A$”) and Israeli New Shekel (“ILS”). The assets and liabilities of the Company’s foreign operations are translated into dollars at the exchange rate in effect as of December 31, 2020 and 2019. Transactions affecting the shareholders’ equity (deficit) are translated at historical foreign exchange rates. The consolidated statements of net income (loss) and comprehensive income (loss) and the consolidated statements of cash flows of the Company’s foreign operations are translated into dollars by applying the average foreign exchange rate in effect for the reporting period. The cumulative translation adjustments (“CTA”) resulting from translating the consolidated financial statements into their dollar reporting currency are recorded in other comprehensive income (loss).

Monetary assets and liabilities denominated in foreign currencies are translated to the functional currency by applying the foreign exchange rate in effect at the balance sheet date. Revenues and expenses are translated using the average foreign exchange rate for the reporting period. Realized and unrealized foreign currency differences are recognized in the consolidated statements of net income (loss) and comprehensive income (loss).

Transactions in foreign currencies are translated into the functional currency using the exchange rate prevailing at the date of the transaction and are recorded in other comprehensive income. Exchange differences arising from operating transactions are recorded in net income for the period.

(o)Income taxes

The Company uses the liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to be in effect when such assets and liabilities are recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the year that includes the enactment date. The Company determines deferred tax assets including net operating losses and liabilities, based on temporary differences between the book and tax bases of assets and liabilities.

A valuation allowance is established to reduce some or all net deferred tax assets to amounts that are more likely than not to be realized. The Company considers all available evidence, both positive and negative including past operating results, estimates of future taxable income, and the feasibility of tax planning strategies, in assessing the need for a valuation allowance.

The Company has a full valuation allowance against its net deferred tax assets, and has concluded, based on the weight of all available evidence, that it is more likely than not that the net deferred tax assets will not be realized, primarily due to the historical net operating losses. The valuation allowance against the net deferred tax assets does not in any way impact the Company’s ability to use future tax deductions such as the Company’s net operating loss carryforwards; rather, the valuation allowance indicates, according to the provisions of Accounting Standards Codification 740, Income Taxes, it is more likely than not that the deferred tax assets will not be realized. The valuation allowance that was established will be maintained until there is sufficient positive evidence to conclude that it is more likely than not that the net deferred tax assets will be realized. The Company’s income tax expense for future periods will be reduced to the extent of corresponding decreases in our valuation allowance. There is uncertainty regarding any future realization of the benefit by the Company of all or part of our net deferred tax assets.

Judgment is required to determine the recognition and measurement attributes prescribed in the accounting guidance for uncertainty in income taxes. The Company uses a two-step approach for evaluating uncertain tax positions. Step one, recognition, requires us to determine if the weight of available evidence indicates that a tax position is more likely than not to be sustained upon audit, including resolution of related appeals or litigation processes, if any. If a tax position is not considered “more likely than not” to be sustained, no benefits of the position are recognized. If we determine that a position is “more likely than not” to be sustained, then we proceed to step two, measurement, which is based on the largest amount of benefit which is more likely than not to be realized on effective settlement. This process involves estimating our actual current tax exposure, including assessing the risks associated with income tax audits, together with assessing temporary differences resulting from the different treatment of items for tax and financial reporting purposes. If actual results differ from our estimates, our net operating loss and credit carryforwards could be materially impacted in the period which such determination is made.

The Company recognizes uncertain income tax positions at the largest amount that is more-likely-than-not to be sustained upon examination by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Recognition or measurement is reflected in the period in which the likelihood changes. Any interest and penalties related to unrecognized tax liabilities are presented within income tax expense in the consolidated statements of net income (loss) and comprehensive income (loss). Accrued interest and penalties are included in accounts payable and other liabilities in the consolidated balance sheets.

(p)Share-based compensation

As described in more detail below, the Company has five share-based compensation plans under which awards have been made: the 2020 Omnibus Plan (as defined below), the 2018 Stock Option Plan (as defined below), the 2015 Stock Option Plan (as defined below), the Employment Inducement Award Plan #1 (the “Employment Inducement Award Plan”) and a cash-settled deferred share unit (“DSU”) plan for non-executive directors.

Share-based compensation consists of equity-settled share-based awards such as stock options and restricted share units (“RSUs”) that are issued to eligible employees, non-executive directors, and non-employees.

Cash-settled deferred share units (“DSUs”) that are issued to non-executive directors are recorded in accounts payable and other liabilities with the fair value adjustment recorded in other income (loss).

Equity instruments granted are initially measured at fair value on the grant date. The fair value of the stock options are determined using the Black-Scholes option pricing model. The fair value of RSUs and DSUs are determined using the market price. This is recognized on a straight-line basis in the consolidated statements of net income (loss) and comprehensive income (loss) over the vesting period for employees, and over the contractual term for non-employees. The fair value of the payout of cash-settled DSUs is determined at each reporting date based on the fair value of the Company’s common shares at the reporting date and is recorded within other liabilities.

The related costs for all equity-settled share-based awards are reflected in additional paid-in capital until the awards are exercised. Upon exercise, shares are issued and the amount previously reflected in the additional paid-in capital is, along with any proceeds paid upon exercise, credited to share capital. Forfeitures are estimated at the time of grant, and the Company revises these estimates in subsequent periods if there is a difference in actual forfeitures and the estimates.

(q)Net earnings (loss) per share

The Company presents basic and diluted net earnings (loss) per share data for its common shares. Basic net earnings (loss) per share is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted net earnings (loss) per share is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potentially dilutive common shares that are issuable upon exercise of warrants, stock options and the Altria Warrant (as defined below) as well as the vesting of RSUs outstanding.

(r)Cash and cash equivalents and short-term investments

Cash and cash equivalents are comprised of cash and highly liquid investments that are readily convertible into known amounts of cash with original maturities of three months or less. Cash and cash equivalents include amounts held in dollars, C$ and ILS and security deposits.

Short-term investments consist of debt securities that (i) have original maturities of greater than three months and (ii) the Company has the ability to convert into cash within one year. Short-term investments are classified as held-to-maturity. Our investments classified as held-to-maturity are recorded at cost. Interest earned on short-term investments is recorded in other receivables on the consolidated balance sheet and interest income on the consolidated statement of comprehensive income (loss). Cash inflows and outflows related to the purchase and maturity of short-term investments are classified as investing activities in the Company’s consolidated statements of cash flows.

(s)Derivative liabilities

For financial instruments that are not designated as hedging instruments or do not qualify for hedge accounting, changes in fair value are recorded in the consolidated statements of net income (loss) and comprehensive income (loss) each period. The Company does not enter into or hold derivative financial instruments for trading or speculative purposes. Derivative liabilities are initially recognized at fair value at the date on which the derivative contract was entered into. Any attributable transaction costs are recognized in net income (loss) as incurred. Subsequent to initial recognition, derivative liabilities are measured at fair value at each reporting date until settlement with the re-measurement gain or loss being recognized immediately in comprehensive income.

For more details on derivative liabilities consisting of the Altria Warrant, Pre-emptive Rights, and certain Top-up Rights, see Note 14.

(t)Fair value measurements

The carrying value of the Company’s cash and cash equivalents, accounts receivable, other receivables, loan receivable, account payables and other liabilities and holdbacks payable approximate fair value, given their short-term nature.

Cronos Group uses a fair value hierarchy, which gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities, noted as Level 1 measurements, and the lowest priority to unobservable inputs, noted as Level 3 measurements. The following are the three levels of inputs used to measure fair value:

•Level 1 – valuation based on quoted prices (unadjusted) in active markets for identical assets and liabilities.

•Level 2 – valuation techniques based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

•Level 3 – valuation techniques using the inputs for the asset or liability that are not based on observable market data.

The Company’s policy for determining when transfers between levels of the fair value hierarchy occur is based on the date of the event or changes in circumstances that caused the transfer.

(u)Acquisitions

The accounting basis for each acquisition is dependent on whether the integrated set of assets and activities acquired constitutes a business. A business consists of inputs and processes applied to those inputs that have the ability to contribute to the creation of outputs. The cost of acquisition is allocated to the assets acquired on a relative fair value basis. No goodwill is recognized in an asset acquisition. If it is determined that a business is not acquired, the transaction is accounted for as an asset acquisition and the relevant values are finalized prior to the next reporting period. On the other hand, when a business is acquired, the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805 is applied, which requires that once control of the business is obtained, the assets and liabilities of the acquired business, including amounts attributable to non-controlling interests, be recorded at their respective fair values as of the date of acquisition. Any excess of purchase consideration over the net fair value of tangible and identified intangible assets acquired less liabilities assumed is recorded as goodwill. The costs of business acquisitions, including fees for accounting, legal, professional consulting and valuation specialists, are expensed as incurred. Purchase price allocations may be preliminary and, during the measurement period not to exceed one year from the date of acquisition, changes in assumptions and estimates that result in adjustments to the fair value of assets acquired and liabilities assumed are recorded in the period the adjustments are determined.

For business combinations achieved in stages, the Company’s previously held interest in the acquiree is remeasured at its subsequent acquisition date fair value, with the resulting gain or loss recorded in the consolidated statements of net income (loss) and comprehensive income (loss). For a pre-existing relationship between the Company and acquiree that is not extinguished on the business combination, such a relationship is considered effectively settled as part of the business combination even if it is not legally cancelled. At the acquisition date, it becomes an intercompany relationship and is eliminated upon consolidation.

Contingent consideration in a business combination is initially measured at fair value. Subsequently all liability classified as contingent consideration is remeasured at fair value at each reporting period until the contingency is resolved and any change in the fair value following the date of acquisition is recorded in the consolidated statements of net income (loss) and comprehensive income (loss). All equity classified as contingent consideration is not remeasured and its subsequent settlement is accounted for within equity.

(v)Assets held for sale and discontinued operations

In accordance with ASC 205-20 Presentation of Financial Statements: Discontinued Operations, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meet the criteria in paragraph 205-20-45-10. In the period in which the component meets held-for-sale or discontinued operations criteria the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations.

During the year ended December 31, 2020, OGBC, formerly included within the Rest of World segment, met the criteria for “held-for-sale”. As a result, the Company has reflected amounts relating to OGBC as a disposal group classified as held-for-sale on the consolidated balance sheet and included as part of discontinued operations on the consolidated statement of net income (loss) and comprehensive income (loss) for all periods presented in this Annual Report. OGBC is no longer included in the segment reporting following the reclassification to discontinued operations. The discontinued operations of OGBC are described further in Note 30.

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	(a)Adoption of new accounting pronouncements On January 1, 2020, the Company adopted ASU No. 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) (“ASU No. 2018-13”). ASU No. 2018-13 adds, modifies, and removes certain fair value measurement disclosure requirements. The adoption of ASU No. 2018-13 did not have a material impact on the Company’s consolidated financial statements. On January 1, 2020, the Company adopted ASU No. 2018-15, Intangibles – Goodwill and Other Internal-use-software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU No. 2018-15”). ASU No. 2018-15 amends current guidance to align the accounting for costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs associated with developing or obtaining internal-use software. The guidance in ASU No. 2018-15 is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted. The adoption of ASU No. 2018-15 did not have a material impact on the Company’s consolidated financial statements. On January 1, 2020, the Company adopted ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment (“ASU No. 2017-04”). ASU No. 2017-04 eliminates step 2 from the goodwill impairment test and instead requires an entity to measure the impairment of goodwill assigned to a reporting unit if the carrying value of assets and liabilities assigned to the reporting unit, including goodwill, exceeds the reporting unit’s fair value. The guidance in ASU No. 2017-04 is effective for annual and interim goodwill tests completed by the Company beginning on January 1, 2020. The adoption of ASU No. 2017-04 was applied prospectively and the Company follows a one-step model for goodwill impairment. (b)New accounting pronouncements not yet adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). ASU No. 2019-12 eliminates certain exceptions and simplifies the application of U.S. GAAP-related changes in enacted tax laws or rates and employee stock option plans. ASU No. 2019-12 is effective for annual and interim periods beginning after December 15, 2020. Early adoption is permitted. The Company has evaluated the impact of ASU No. 2019-12 and the adoption will not have a material impact on the Company’s consolidated financial statements. In January 2020, the Financial Accounting Standards Board issued ASU No. 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) (“ASU No. 2020-01”). ASU No. 2020-01 clarifies the interaction of accounting for the transition into and out of the equity method. The new standard also clarifies the accounting for measuring certain purchased options and forward contracts to acquire investments. The guidance in ASU No. 2020-01 is effective for annual and interim periods beginning after December 15, 2020. The Company has evaluated the impact of ASU No. 2020-01 and does not expect the adoption to have a material impact to the Company’s consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt –Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging –Contracts in Entity’s Own Equity (Subtopic 815–40) (“ASU No. 2020-06”). ASU No. 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. ASU No 2020-06 is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. ASU No 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company is currently evaluating the impact of ASU No. 2020-06 on its consolidated financial statements and related disclosures.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Revenues from Contracts with Customers	12 Months Ended
Revenues from Contracts with Customers	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	Revenues from Contracts with Customers Cronos Group disaggregates net revenues based on product type. For further discussion, see Note 29. Receivables were $8,928 at December 31, 2020 (December 31, 2019 – $4,638). The Company recorded a current expected credit loss allowance of $74 as of December 31, 2020 (December 31, 2019 – $136). Cronos Group offers discounts to customers for prompt payment and calculates cash discounts as a percentage of the list price based on historical experience and agreed-upon payment terms. Cronos Group records an allowance for cash discounts, which is included as a contra-asset against receivables on the Company’s consolidated balance sheets. Revenue is measured net of returns. As a result, the Company is required to estimate the amount of returns based on the historical data by customer and product type, adjusted for forward-looking information. This is included as a provision against accounts receivable on the Company’s consolidated balance sheets. The Company estimates sales returns based principally on historical volume and return rates, as a reduction to revenues. The difference between actual sales and estimated sales returns is recorded in the period in which the actual amounts become known. These differences, if any, have not had a material impact on the Company’s consolidated financial statements. Upon return, products can be extracted from dried cannabis, resold, or destroyed depending on the nature of the product. The Company has assessed that the amount recoverable is immaterial.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Equity Method Investments and Joint Ventures [Abstract]

Inventory

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventory

Inventory is comprised of the following items:


	As of December 31,
	2020		2019
Raw materials	$	11,489	$	2,469
Work-in-progress – dry cannabis	20,520		11,538
Work-in-progress – cannabis extracts	5,758		17,975
Finished goods – dry cannabis	4,894		1,798
Finished goods – cannabis extracts	1,011		2,624
Supplies and consumables	330		1,639
Total	$	44,002	$	38,043

Inventory is written down for any obsolescence such as slow-moving or non-marketable products, or when the net realizable value of inventory is less than the carrying value. For the year ended December 31, 2020, the Company recorded write-downs related to inventory of $26,055 (December 31, 2019 – $29,173, December 31, 2018 - $nil) driven by pricing pressures in the Canadian marketplace. As of December 31, 2020, an inventory reserve of $1,229 was recorded (December 31, 2019 – $nil) in cost of sales.

Investments

12 Months Ended

Dec. 31, 2020

Investments

Variable Interest Entities

The Company holds variable interests in Cronos Growing Company Inc. (“Cronos GrowCo”), Natuera S.à.r.l (“Natuera”), MedMen Canada Inc. (“MedMen Canada”) and Cannasoul Lab Services Ltd. (“CLS”).

Cronos GrowCo is a joint venture incorporated under the Canada Business Corporations Act (“CBCA”) on June 14, 2018 with the objective of building a cannabis production greenhouse, applying for cannabis licenses under the Cannabis Act (Canada), and growing, cultivating, extracting, producing and selling cannabis in accordance with such licenses. Cronos Group holds variable interests in Cronos GrowCo through its ownership of 50% of Cronos GrowCo’s common shares and senior secured debt in Cronos GrowCo. Cronos GrowCo’s economic performance is driven by the quantity and strains of cannabis grown. The joint venture partners mutually determine the quantity and strains of cannabis grown.

MedMen Canada is a joint venture incorporated under the CBCA on March 13, 2018, with the objective of the retail sale and marketing of cannabis products in Canada. MedMen Canada holds the exclusive license to the MedMen brand in Canada for a minimum term of 20 years. Cronos holds variable interests in MedMen Canada through its ownership of 50% of MedMen Canada’s common shares and other subordinated debt in the entity. MedMen Canada’s economic performance is driven by the quantity and strains of cannabis sold. Subject to applicable law, the joint venture partners mutually determine the quantity and strains of cannabis to be sold in MedMen Canada’s retail stores, if and when stores are opened.

Natuera is a joint venture registered in Luxembourg with the objective of cultivating and commercializing medical cannabis to serve the export market. Cronos holds variable interests in Natuera through its ownership of 50% of Natuera’s common shares and other debt in the entity. Natuera’s economic performance is driven by the quantity and strains of cannabis to be grown. The joint venture partners mutually determine the quantity and strains of cannabis grown.

The Company’s investments in Cronos GrowCo, Natuera and MedMen Canada are exposed to economic variability from each entity’s performance; however, the Company does not consolidate the entities as it does not have the power to direct the activities that most significantly impact each entities’ economic performance. Thus, Cronos Group is not considered the primary beneficiary of each entity. These investments are accounted for as equity method investments classified as “Investments in equity accounted investees” in the consolidated balance sheets.

CLS is a wholly owned subsidiary of Cannasoul Analytics Ltd., incorporated with the purpose of establishing a commercial cannabis analytical testing laboratory located on the premises of Cronos Israel (the “Cannasoul Collaboration”). Cronos Israel will advance ILS 8,297 (approximately $2,574) by a non-recourse loan to CLS over a period of two years from April 1, 2020 for the capital and operating expenditures of the laboratory. The loan will bear interest at 3.5% annually. Cronos Israel will receive 70% of the profits of the laboratory until such time as it has recovered 150% of the amounts advanced to CLS, after which time it will receive 50% of the laboratory profits. As a result, the Company is exposed to economic variability from CLS’s performance. The Company does not consolidate CLS as it does not have the power to direct the activities that most significantly impact the entity’s economic performance; thus, the Company is not considered the primary beneficiary of the entity. The carrying amount of the non-recourse loan is recorded under loans receivable and the full loan amount, ILS 8,297, represents the Company’s maximum potential exposure to losses through the Cannasoul Collaboration. See Note 8 for further information regarding loans receivable.

(a)Equity Method Investments

A reconciliation of the carrying amount of the investments in associates and joint ventures is as follows:


	Ownership interest	Carrying Amount
		December 31, 2020		December 31, 2019
Cronos Australia(i)	31%	$	—	$	(346)
Cronos GrowCo(ii)	50%	19,235		1,501

Natuera	50%	—		(598)
		$	19,235	$	557

(i)On October 25, 2019, Cronos Australia issued 40 million new shares in an initial public offering at an offering price of A$0.50 per share. The Company’s ownership in Cronos Australia decreased from 50% to 31% on November 7, 2019 when Cronos Australia began trading on the Australian Securities Exchange. This resulted in a reconsideration event, which required the reassessment of the Company’s variable interest entity conclusion. Upon reconsideration, the Company determined that the entity was no longer a variable interest entity as of December 31, 2019 and is now reported under the equity method.

(ii)On September 25, 2020, the Company and 2645485 Ontario Inc. (“Mucci”), the other joint venture partner of Cronos GrowCo, agreed to capitalize certain historical advances made by each shareholder to Cronos GrowCo. Total aggregate gross advances to Cronos GrowCo, excluding any amounts advanced by the Company to Cronos GrowCo under the GrowCo Credit Facility, were C$49,300 ($37,010), of which the Company advanced 50% and Mucci advanced the remaining 50% for an amount of C$24,650 ($18,505) each. As a result, the Company transferred the advances of C$24,650 ($18,505) to investments in equity accounted investees in respect of Cronos GrowCo.

The Company’s share of net earnings (losses) from equity investments accounted for under the equity method of accounting as of and for the years ended December 31:


	2020		2019		2018
Whistler Medicinal Marijuana Company (“Whistler”)(i)	$	—	$	29	$	178
Cronos Australia	(363)		(1,101)		(588)
Cronos GrowCo	(1,537)		(167)		(100)
MedMen Canada	—		35		(213)
Natuera(ii)	(2,610)		(805)		—
	$	(4,510)	$	(2,009)	$	(723)

(i)Whistler was incorporated in British Columbia, Canada and is a license holder under the Cannabis Act (Canada) with production facilities in British Columbia, Canada. The Company fully divested its investment in Whistler during 2019. See Note 7.

(ii)The Company’s share of accumulated net losses in excess of its equity investment in Natuera has been applied as a loss allowance on the loan receivable. See Note 8.

The following is a summary of financial information for the Company’s equity method investments as of and for the year ended December 31:


	2020		2019		2018
Current assets	$	19,126	$	23,200	$	7,121
Non-current assets	122,099		76,212		27,129
Current liabilities	24,223		52,796		3,746
Non-current liabilities	76,313		33,189		13,201

Revenue	367		52		5,344
Gross profit	(631)		—		—
Net loss	(11,453)		(2,048)		(874)

(b)Advances to Joint Ventures


	MedMen Canada(i)		Cronos GrowCo(ii)		Cronos Australia(iii)		Natuera		Total
As of January 1, 2020	$	471	$	18,966	$	—	$	—	$	19,437
Transfer to investments in equity accounted investees(ii)	—		(18,505)		—		—		(18,505)
Interest on advances	—		—		37		—		37
Advances to joint ventures recovered from (applied to) carrying amount of investments	—		—		(38)		—		(38)
Effect from foreign exchange	(4)		(461)		1		—		(464)
As of December 31, 2020	$	467	$	—	$	—	$	—	$	467


	MedMen Canada(i)		Cronos GrowCo(ii)		Cronos Australia(iii)		Natuera		Total
As of January 1, 2019	$	1,244	$	2,970	$	475	$	—	$	4,689
Advances (repayments)	(852)		15,494		274		219		15,135
Advances to joint ventures recovered from (applied to) carrying amount of investments	35		22		(779)		(224)		(946)
Effect from foreign exchange	44		480		30		5		559
As of December 31, 2019	$	471	$	18,966	$	—	$	—	$	19,437

(i) Advance is unsecured, non-interest bearing, and there are no terms of repayment.

(ii)On September 25, 2020, the Company and Mucci agreed to capitalize historical advances made by each shareholder to Cronos GrowCo. The Company capitalized C$24,650 ($18,505) through a transfer of aggregate gross advances from advances to joint ventures to investments in equity accounted investees in respect of Cronos GrowCo. Refer to footnote (ii) to the first table set forth under Note 6(a).

(iii)A$1,500 is governed by an unsecured loan bearing interest at a rate of 12% per annum, calculated and compounded daily, in arrears, on the amounts advanced from the date of each advance. The loan is due on January 1, 2022. If the loan is overdue, the outstanding amount bears interest at an additional 2% per annum.

The Company determined that the maximum exposure to loss on variable interest entities is limited to the Company’s initial investment, advances and/or loans for each variable interest entity. The following is a summary of the maximum exposure to loss for the year ended December 31, 2020 and 2019:


	Ownership interest	Other Net Assets (Liabilities)		Maximum Exposure to Loss
Cronos Australia	31%	$	8,976	$	1,530
Cronos GrowCo	50%	109,329		21,125
MedMen Canada	50%	—		467
Natuera	50%	(6,849)		8,154
Balance as of December 31, 2020		$	111,456	$	31,276


	Ownership interest	Other Net Assets (Liabilities)		Maximum Exposure to Loss
Cronos Australia	31%	$	10,900	$	1,355
Cronos GrowCo	50%	3,091		20,700
MedMen Canada	50%	(199)		642
Natuera	50%	(358)		4,888
Balance as of December 31, 2019		$	13,434	$	27,585

Other Investments

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Other Investments

Other investments consist of investments in common shares and warrants of several companies in the cannabis industry. As of December 31, 2020 and December 31, 2019, the Company did not hold any other investments. The gains and losses on sale of other investments are classified as fair value through net income (loss).

The gains (losses) recognized in net income (loss) related to other investments were as follows:


	Year ended December 31,
	2020		2019		2018
Gain recognized in net income (loss)
Canopy Growth Corporation (“Canopy”)(i)	$	—	$	51	$	166
Vivo Cannabis (“Vivo”) - shares(ii)	—		—		(173)
Vivo Cannabis - share warrants(ii)	—		—		171
Whistler(iii)	—		15,530		—
Aurora Cannabis Inc. (“Aurora”)(iv)	4,789		696		—
	$	4,789	$	16,277	$	164

(i)During the year ended December 31, 2019, the Company sold all remaining 11,062 common shares of Canopy (2018 – 18,436 common shares) for net proceeds of $355 (2018 – $530) recorded as a gain on disposal of other investments in other income (expense). Upon adoption of ASU 2016-01 during the year ended December 31, 2018, the gains and losses on the Canopy investment were reclassified from fair value through other comprehensive income to fair value through net income.

(ii)During the year ended December 31, 2018, the Company exercised 182,927 share warrants for aggregate consideration of $87 for additional shares of Vivo. During the year ended December 31, 2018, the Company then sold all 182,927 shares of Vivo for proceeds of $216. Upon adoption of ASU 2016-01 during the year ended December 31, 2018, the gains and losses on the Vivo Cannabis shares investment were reclassified from fair value through other comprehensive income to fair value through net income.

(iii)On March 4, 2019, the Company sold all 2,563 shares of Whistler, representing approximately 19.0% of Whistler’s issued and outstanding common shares, to Aurora, in connection with Aurora’s acquisition of Whistler (the “Whistler Transaction”). As a result of the closing of the Whistler Transaction, the Company received 2,524,341 Aurora common shares. During the year ended December 31, 2019, the Company sold all 2,524,341 common shares of Aurora, for gross proceeds of $19,259. A gain on disposal of other investments was recorded in other income (expense) as a result.

(iv)For the year ended December 31, 2020, in connection with the achievement of certain milestones related to the Whistler Transaction, the Company received 980,662 common shares of Aurora. During the year ended December 31, 2020, the Company sold all 980,662 of the Aurora common shares, for gross proceeds of approximately $4,789 (C$6,404), recorded as a gain on disposal of other investments in other income (expense).

Loan Receivable

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Loan Receivable

Loans Receivable


	As of
		December 31, 2020		December 31, 2019
Current portion
Natuera Series A Loan(i)		$	3,518	$	4,575
GrowCo Credit Facility(ii)		3,137		—
Add: Accrued interest		428		89
Total current portion of loans receivable		7,083		4,664
Long term portion
GrowCo Credit Facility(ii)		69,939		31,678
Mucci Promissory Note(iii)		13,324		12,587
Cannasoul Collaboration loan(iv)		1,261		—
Add: Accrued interest		2,667		702
Total long-term portion of loans receivable		87,191		44,967
Total loans receivable		$	94,274	$	49,631

(i)On July 24, 2020, the Company and its joint venture partner entered into an amendment to the Series A Loan with Natuera to increase the principal amount of the Series A Loan by $6,350, to an aggregate principal amount of the Series A Loan of $15,500, of which the Company has committed to fund 50% and its joint venture partner has committed to fund the remaining 50%. Outstanding principal amounts continue to bear interest at a fixed annual rate of 5.67%. In December 2020, the Series A Loan was amended to extend its maturity date to September 1, 2021 from March 1, 2021.

As of December 31, 2020, a current expected credit loss allowance of $685 was recorded against the Natuera Series A loan. A loss allowance of $3,024 was recorded against the Natuera Series A Loan related to the Company’s share of net loss from Natuera in excess of the carrying value of the equity method investment. Refer to Note 6.

(ii)On August 23, 2019, the Company entered into a credit agreement with Cronos GrowCo in respect of a C$100,000 (approximately $78,430) secured non-revolving term loan credit facility (the “GrowCo Credit Facility”). The GrowCo Credit Facility will mature on March 31, 2031 and will bear interest at varying rates based on the Canadian prime rate as announced by the Bank of Montreal. Interest began to accrue as of the closing date of the GrowCo Credit Facility and is payable on a quarterly basis until maturity, except that any interest accrued prior to March 31, 2021 will be payable not later than December 31, 2021. Repayment of principal will be made on a quarterly basis commencing on March 31, 2021. The GrowCo Credit Facility is secured by substantially all present and after acquired property of Cronos GrowCo and its subsidiaries. Mucci, the other 50% shareholder of Cronos GrowCo, has provided a limited recourse guarantee in favor of Cronos GrowCo, secured by Mucci’s shares in Cronos GrowCo. As of December 31, 2020, Cronos GrowCo had drawn C$95,150 ($74,626) from the GrowCo Credit Facility. Subsequent to December 31, 2020, the terms of the GrowCo Credit Facility were amended, such that any interest accrued from April 1, 2021 to December 31, 2021 will be payable not later than December 31, 2022, and repayment of principal will be made on a quarterly basis commencing on March 31, 2022.

As of December 31, 2020, a current expected credit loss allowance of $1,470 was recorded against the GrowCo Credit Facility.

(iii)On June 28, 2019, the Company entered into a promissory note receivable agreement (the “Mucci Promissory Note”) for C$16,350 (approximately $12,823) with Mucci. The outstanding principal amount of the Mucci Promissory Note bears interest at 3.95% annually and is due within 90 days of demand. The Company does not intend to demand the loan within 12 months. Interest accrued under the Mucci Promissory Note until July 1, 2021 is payable by way of capitalization on the principal amount and interest thereafter must be paid in cash on a quarterly basis. The Mucci Promissory Note is secured by a general security agreement covering all the assets of Mucci. Subsequent to December 31, 2020, the terms of the Mucci Promissory Note were amended, such that interest accrued under the Mucci Promissory Note until July 1, 2022, is payable by way of capitalization on the principal amount and interest thereafter must be paid in cash on a quarterly basis.

As of December 31, 2020, a current expected credit loss allowance of $259 has been recorded against the Mucci Promissory Note.

(iv)On April 1, 2020, Cronos Israel entered into the Cannasoul Collaboration. Cronos Israel has agreed to advance approximately ILS 8,297 (approximately $2,574) by a non-recourse loan to CLS over a period of two years for the capital and operating expenditures of the laboratory. The outstanding principal on the loan bears interest at 3.5% annually and will be repaid through the profits generated from the Cannasoul Collaboration. For the year ended December 31, 2020, CLS has received ILS $4,148 (approximately $1,287).

As of December 31, 2020, a current expected credit loss allowance of $25 has been recorded against the Cannasoul Collaboration loan.

Loans Payable	12 Months Ended
Loans Payable	Dec. 31, 2020
Debt Disclosure [Abstract]
Loans Payable	Loans Payable As of December 31, 2020, the Company did not have any loans payable. On January 23, 2019, the Company entered into a credit agreement with the Canadian Imperial Bank of Commerce, as administrative agent and lender, and the Bank of Montreal, as lender, in respect of a C$65,000 ($48,715) secured non-revolving term loan credit facility (the “Credit Facility”). The loan was guaranteed by the Company’s wholly owned Canadian subsidiaries and secured by substantially all present and after-acquired property of the Company and its wholly owned Canadian subsidiaries. The Company used the funds available under the Credit Facility to fully repay the construction loan payable, consisting of C$21,311 ($15,971) in loan principal and C$275 ($206) in accrued interest and fees, calculated for the period from January 1, 2019 to January 22, 2019. On March 8, 2019, the Credit Facility was fully repaid. In connection with the Credit Facility, the Company incurred financing costs of C$523 ($395) which were expensed upon repayment of the Credit Facility.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment, net consisted of the following:


	As of December 31,
		2020		2019
Cost
Land		$	3,197	$	3,071
Building		158,586		149,690
Furniture and equipment		18,824		10,079
Computer equipment		710		526
Leasehold improvements		3,740		1,758
Construction in progress		20,837		3,569
Less: accumulated depreciation and amortization		(18,295)		(8,745)
Balance as of December 31		$	187,599	$	159,948

Depreciation expense included in costs of sales relating to manufacturing equipment and production facilities for the year ended December 31, 2020 was $3,447 (December 31, 2019 – $1,812; 2018 – $374). Depreciation expense included in operating expenses related to general office space and equipment for the year ended December 31, 2020 was $2,058 (December 31, 2019 – $1,444; 2018 – $261). The remaining depreciation is included in inventory.

For the year ended December 31, 2020, there was no capitalized interest included in construction in progress (2019 – $nil; 2018 –$89).

Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

The ongoing restrictions and closures experienced by retail stores in the U.S. as a result of the COVID-19 pandemic have negatively impacted sales and demand which has resulted in slower than expected revenue growth in the U.S. reporting unit. The Company expects the revenue growth and operating results in the U.S. reporting unit to continue to be negatively impacted as the decrease in customer demand and retail closures are expected to continue as a result of the pandemic. The Company performed an interim impairment test as of June 30, 2020 on the U.S. reporting unit, which holds the Redwood goodwill, as well as the indefinite-lived intangible asset (Lord Jones™ brand) to determine whether the carrying amount of the reporting unit and intangible asset exceeded their respective fair values. The Company reassessed its estimates and forecasts during the second quarter of 2020 to determine the fair values of the reporting unit and intangible asset. The fair values were determined using a discounted cash flow method on the reporting unit and the relief-from-royalty method on the Lord Jones™ brand. Significant inputs include discount rate, growth rates, and cash flow projections. Based on these valuations, the carrying value exceeded the fair value resulting in an impairment on both the reporting unit as well as the Lord Jones™ brand.

The Company recorded $35,000 of impairment charges on the U.S. reporting unit and $5,000 of impairment charges on the Lord Jones™ brand during year ended December 31, 2020.

(a)Intangible assets

Intangible assets are comprised of the following items:


	Weighted average amortization period (in years)	As of December 31, 2020
		Cost		Accumulated amortization		Impairment charges		Net
Software	5	$	610	$	(291)	$	—	$	319
ERP system	5	3,955		(274)		—		3,681
Health Canada licenses	17	7,526		(1,254)		—		6,272
Lord JonesTM brand	N/A	64,000		—		(5,000)		59,000
Trademarks	N/A	148		—		—		148
Israeli codes(i)	25	322		(22)		—		300
		$	76,561	$	(1,841)	$	(5,000)	$	69,720

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.


	Weighted average amortization period (in years)	As of December 31, 2019
		Cost		Accumulated amortization		Net
Software	5	$	541	$	(202)	$	339
Health Canada licenses	17	7,387		(821)		6,566
Lord JonesTM brand	N/A	64,000		—		64,000
Trademarks	N/A	36		—		36
Israeli codes(i)	25	298		(4)		294
		$	72,262	$	(1,027)	$	71,235

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.

The aggregate amortization was $814 for the year ended December 31, 2020 (December 31, 2019 – $646; 2018 – $546). Intangible asset additions in 2020 primarily relate to the implementation of a new ERP system. Intangible asset additions in the year ended December 31, 2019 included the Lord Jones™ brand for $64 million. There were no material disposals of intangible assets in 2020 or 2019. The amortization expense for the next five years on intangible assets in use is estimated to be as follows: 2021 – $1,047; 2022 – $998; 2023: $964; 2024 – $952; 2025 – $664.

(b)Goodwill


	As of December 31, 2019		Additions		Impairment charges		Effect of foreign exchange		As of December 31, 2020
Peace Naturals	$	1,078	$	—	$	—	$	30	$	1,108
Redwood	213,414		—		(35,000)		—		178,414
	$	214,492	$	—	$	(35,000)	$	30	$	179,522

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

The Company has entered into leases primarily for the land-use rights, office premises and equipment used in the production of cannabis, U.S. hemp and related products. The Company’s leases have terms which range from three years to six years, excluding land use rights, which generally extend to 15 years. These leases often include options to extend the term of the lease for up to 10 years. When it is reasonably certain that the option will be exercised, the impact of the option is included in the lease term for purposes of determining total future lease payments.

Operating leases greater than one year are included in right-of-use assets and operating lease liabilities. Finance leases are included in property, plant and equipment on the Company’s consolidated balance sheet.

The Company’s finance leases were not material for any of the periods presented.


	As of December 31,
	2020			2019
Lease cost
Operating lease cost	$	2,479		$	760
Short-term lease cost	60			373
Total lease cost	$	2,539		$	1,133

Weighted-average remaining lease term – operating leases	6			5
Weighted-average discount rate – operating leases	8.86		%	12.00		%

General and Administrative Expenses

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General and Administrative Expenses

General and administrative expense are comprised of the following items:


	Year ended December 31,
	2020		2019		2018
Salaries and wages	$	26,742	$	17,829	$	4,240
Professional and consulting	15,135		15,369		5,242
Office and general	17,845		13,407		3,713
Review costs related to restatement of 2019 interim financial statements(i)	9,688		—		—
Current expected credit loss	2,512		136		—
Other	8,607		2,530		154
Total	$	80,529	$	49,271	$	13,349

(i)These financial statement review costs include costs related to the restatement of the Company’s 2019 interim financial statements, costs related to the Company’s responses to requests for information from various regulatory authorities relating to such restatement and legal costs defending shareholder class action complaints brought against the Company as a result of the restatement.

Derivative Liabilities

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Liabilities

On March 8, 2019, the Company closed the previously announced investment in the Company (the “Altria Investment”) by Altria Group Inc. (“Altria”), pursuant to a subscription agreement dated December 7, 2018. As of the closing date of the Altria Investment, the Altria Investment consisted of 149,831,154 common shares of the Company, refer to Note 15, issued to a wholly owned subsidiary of Altria and one warrant of the Company (the “Altria Warrant”), refer to Note 16(a), issued to a wholly owned subsidiary of Altria. As of the closing date of the Altria Investment, Altria beneficially held an approximate 45% ownership interest in the Company (calculated on a non-diluted basis). As summarized in this note, if exercised in full on such date, the exercise of the Altria Warrant would have resulted in Altria holding a total ownership interest in the Company of approximately 55% (calculated on a non-diluted basis). Pursuant to the investor rights agreement between the Company and Altria, entered into in connection with the closing of the Altria Investment (the “Investor Rights Agreement”), the Company granted Altria certain rights, among others, summarized in this note.

The summaries below are qualified entirely by the terms and conditions fully set out in the Investor Rights Agreement and the Altria Warrant, as applicable.

a.The Altria Warrant entitles the holder, subject to certain qualifications and limitations, to subscribe for and purchase up to an additional 10% of the common shares of Cronos (approximately 80.1 million common shares as of December 31, 2020) at a per share exercise price of C$19.00, which expires at 5:00 p.m. (Toronto time) on March 8, 2023. The number of common shares of the Company to which the holder is entitled, and the corresponding exercise price, is subject to adjustment in the event of a share dividend, share issuance, distribution, or share subdivision, split or other division, share consolidation, reverse-split or other aggregation, share reclassification, a capital reorganization, consolidation, amalgamation, arrangement, binding share exchange, merger or other combination, certain securities issuances, repurchases, redemptions or certain other actions that would result in a reduction in the number of common shares of the Company outstanding, in each case, executed by the Company. If and whenever there is a reclassification of the common shares or a capital reorganization of the Company, or a consolidation, amalgamation, arrangement, binding share exchange or merger of the Company, in each case executed by the Company and pursuant to which (i) in the event the consideration received by the Company’s shareholders is exclusively cash, the Company or the successor entity (as applicable) is required to purchase the Altria Warrant in cash equal to the amount by which the purchase price per share paid for the common shares acquired exceeds the exercise price of the Altria Warrant multiplied by the number of common shares that would have been issuable upon exercise of the Altria Warrant immediately prior to any such transaction, and (ii) in the event the consideration received by the Company’s shareholders is not exclusively cash, the Altria Warrant will remain outstanding in accordance with its terms until any subsequent exercise of the Altria Warrant, at which time the holder thereof will receive in lieu of each share that would have been issuable upon the exercise of the Altria Warrant immediately prior to any such transaction, the kind and amount of cash, the number of shares or other securities or property resulting from any such transaction that such holder would have been entitled to receive had such holder been the registered holder of such shares that would have been issuable upon the exercise of the Altria Warrant on the record date or effective date of the transaction (as applicable).

b.The Company granted to Altria, subject to certain qualifications and limitations, upon the occurrence of certain issuances of common shares of the Company executed by the Company (including issuances pursuant to the R&D partnership with Ginkgo (the “Ginkgo Agreement”), refer to Note 20(b)), the right to purchase up to such number of common shares of the Company in order to maintain their ownership percentage of issued and outstanding common shares of the Company immediately preceding any issuance of shares by the Company (“Pre-emptive Rights”), at the same price per common share of the Company at which the common shares are sold in the relevant issuance; provided that if the consideration paid in connection with any such issuance is non-cash, the price per common share of the Company that would have been received had such common shares been issued for cash consideration will be determined by an independent committee (acting reasonably and in good faith); provided further that the price per common share of the Company to be paid by Altria pursuant to its exercise of its Pre-emptive Rights related to the Ginkgo Agreement will be C$16.25 per common share. These rights may not be exercised if Altria’s ownership percentage of the issued and outstanding shares of the Company falls below 20%.

c.In addition to (and without duplication of) the Pre-emptive Rights, the Company granted to Altria, subject to certain qualifications and limitations, the right to subscribe for common shares of the Company issuable in connection with the exercise, conversion or exchange of convertible securities of the Company issued prior to March 8, 2019 or thereafter (excluding any convertible securities of the Company owned by Altria or any of its subsidiaries), a share incentive plan of the Company, the exercise of any right granted by the Company pro rata to all shareholders of the Company to purchase additional common shares and/or securities of the Company, bona fide bank debt, equipment financing or non-equity interim financing transactions that contemplate an equity component or bona fide acquisitions (including acquisitions of assets or rights under a license or otherwise), mergers or similar business combination transactions or joint ventures involving the Company in order to maintain their ownership percentage of issued and outstanding common shares of the Company immediately preceding any such transactions (“Top-up Rights”).

The price per common share to be paid by Altria pursuant to the exercise of its Top-up Rights will be, subject to certain limited exceptions, the 10-day volume-weighted average price of the common shares of the Company on the TSX for the 10 full days preceding such exercise by Altria; provided that the price per common share of the Company to be paid by Altria pursuant to the exercise of its Top-up Rights in connection with the issuance of common shares of the Company pursuant to the exercise of options or warrants that were outstanding as of March 8, 2019 will be C$16.25 per common share without any set off, counterclaim, deduction, or withholding. These rights may not be exercised if Altria’s ownership percentage of the issued and outstanding shares of the Company falls below 20%.

The Altria Warrant, Pre-emptive Rights, and fixed price Top-up Rights have been classified as derivative liabilities; related transaction costs of $22,355 have been expensed as financing costs in 2019.

Reconciliations of the carrying amounts of the derivative liability are presented below:


	As of January 1, 2020		Gain on revaluation		Exercise of Rights		Effect of FX		As of December 31, 2020
(a) Altria Warrant	$	234,428	$	(95,045)	$	—	$	(525)	$	138,858
(b) Pre-emptive Rights	12,787		(885)		—		193		12,095
(c) Top-up Rights	49,945		(33,324)		(3,227)		(937)		12,457
	$	297,160	$	(129,254)	$	(3,227)	$	(1,269)	$	163,410


	As of March 8, 2019		Gain on revaluation		Exercise of Rights		Effect of FX		As of December 31, 2019
(a) Altria Warrant	$	1,086,920	$	(869,630)	$	—	$	17,138	$	234,428
(b) Pre-emptive Rights	92,548		(81,070)		—		1,309		12,787
(c) Top-up Rights	386,152		(326,119)		(15,478)		5,390		49,945
	$	1,565,620	$	(1,276,819)	$	(15,478)	$	23,837	$	297,160

Fluctuations in the Company’s share price are a primary driver for the changes in the derivative valuations during each reporting period. As the share price decreases for each of the related derivative instruments, the liability of the instrument generally decreases. Share price is one of the significant observable inputs used in the fair value measurement of each of the Company’s derivative instruments. During the year ended December 31, 2020, the Company’s share price decreased from December 31, 2019 resulting in a gain on revaluation of $129,254.

The fair values of the derivative liabilities were determined using the Black-Scholes pricing model as of December 31, 2020 and December 31, 2019, applying the following inputs:


	As of December 31, 2020
	Altria Warrant	Pre-emptive Rights	Top-up Rights
Share price at grant date (per share in C$)	$8.84	$8.84	$8.84
Subscription price (per share in C$)	$19.00	$16.25	$16.25
Weighted average risk-free interest rate(i)	0.21%	0.17%	0.13%
Weight average expected life (in years)(ii)	2.18	1.50	0.98
Expected annualized volatility(iii)	81%	81%	81%
Expected dividend yield	0%	0%	0%


	As of December 31, 2019
	Altria Warrant	Pre-emptive Rights	Top-up Rights
Share price at grant date (per share in C$)	$9.97	$9.97	$9.97
Subscription price (per share in C$)	$19.00	$16.25	$16.25
Weighted average risk-free interest rate(i)	1.69%	1.73%	1.71%
Weight average expected life (in years)(ii)	3.18	1.25	1.66
Expected annualized volatility(iii)	82%	82%	82%
Expected dividend yield	0%	0%	0%

(i) The risk-free interest rate was based on Bank of Canada government treasury bills and bonds with a remaining term equal to the expected life of the derivative liabilities. The risk-free interest rate uses a range of approximately 0.10% to 0.39% as of December 31, 2020 (December 31, 2019 – 1.66% to 1.73%) for the Pre-emptive Rights and Top-up Rights.

(ii) The expected life in years represents the period of time that the derivative liabilities are expected to be outstanding. The expected life of the Pre-emptive Rights and Top-up Rights is determined based on the expected term of the underlying options, warrants, and shares, to which the Pre-emptive Rights and Top-up Rights are linked. The expected life uses a range of approximately 0.50 years to 5 years as of December 31, 2020 (December 31, 2019 – 0.25 years to 6 years).

(iii) Volatility was based on the blended historical volatility levels of the Company and peer companies.

The following table quantifies each of the significant inputs described above and provides a sensitivity analysis of the impact on the reported values of the derivative liabilities. The sensitivity analysis for each significant input is performed by assuming a 10% decrease in the input while other significant inputs remain constant at management’s best estimate as of the respective dates. As of December 31, 2020, there would be an equal but opposite impact on net income (loss), refer to Note 15, and as of December 31, 2019, there would be an equal but opposite impact on share capital.


	Decrease as of December 31, 2020
	Altria Warrant		Pre-emptive Rights		Top-up Rights
Share price at issuance date	$	25,819	$	2,527	$	2,989
Weighted average expected life	13,541		1,988		2,121
Expected annualized volatility	26,183		2,269		2,602


	Decrease as of December 31, 2019
	Altria Warrant		Pre-emptive Rights		Top-up Rights
Share price at issuance date	$	36,436	$	2,743	$	9,577
Weighted average expected life	17,471		2,366		2,178
Expected annualized volatility	33,343		2,180		7,714

These inputs are classified in Level 3 on the fair value hierarchy and are subject to volatility and several uncontrollable factors, which could significantly affect the fair value of these derivative liabilities in future periods.

Capital Stock

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Capital Stock

The Company is authorized to issue an unlimited number of no par value common shares. The holders of the common shares are entitled to receive dividends, which may be declared from time to time, and are entitled to one vote per share at shareholder meetings of the Company. All common shares are ranked equally with regards to the Company’s residual net assets.

The following is a summary of common shares issued, other than in connection with outstanding options and warrants (see Note 16):


	2020	2019	2018
Altria Investment(i)	—	149,831,154	—
Redwood Acquisition(ii)	—	5,086,586	—
Private placement(iii)	—	856,017	—
Bought deal offering(iv)	—	—	15,677,143
	—	155,773,757	15,677,143

(i)During the year ended December 31, 2019, the Company issued 149,831,154 common shares to Altria for aggregate gross proceeds of $1,809,556, net of issuance costs of $3,722. The gross proceeds were first allocated to the derivative liabilities issued in connection with the Altria Investment, and the residual of $248,302 was allocated to share capital. Pursuant to the Altria Investment, the Company incurred transaction costs of $25,223, of which $3,642 was allocated to share capital and $21,581 to the derivative liabilities based on the relative fair values assigned to the respective components. Refer to Note 14 for additional information.

(ii)During the year ended December 31, 2019, the Company issued 5,086,586 common shares with a fair value of $56,109 related to the acquisition (the “Redwood Acquisition”) of certain subsidiaries of Redwood Holding Group, LLC (collectively, “Redwood”). Refer to Note 27 for additional information.

(iii)During the year ended December 31, 2019, the Company issued 856,017 common shares to Kristen Bell, an accredited investor in a private placement (“Private Placement”) in reliance on Section 4(a)(2) of the Securities Act in connection with the use of certain publicity rights in brand development. The common shares vest in three equal installments on each of (a) January 31, 2020, (b) June 23, 2021, and (c) December 23, 2022. The issuance did not involve a public offering and was made without general solicitation or advertising. The total fair value of the consideration paid for the issuance of such common shares was approximately $6,000. The fair value of the shares was calculated using the 10-day volume weighted average price per share of the Company’s common shares on Nasdaq.

(iv)During the year ended December 31, 2018, the Company issued 15,677,143 common shares for aggregate gross proceeds of $115,510 through bought deal offerings, net of issuance costs of $7,577.

There were no share repurchases during the year ended December 31, 2020, 2019 or 2018.

Share-based Payments

12 Months Ended

Dec. 31, 2020

Share-based Payments

(a)Warrants

The following is a summary of the changes in warrants during the year ended December 31, 2020 and December 31, 2019:


	Weighted average exercise price (C$)		Number of warrants
Balance as of January 1, 2020	$	0.26	18,066,662
Exercise of warrants	0.27		(10,079,313)
Balance as of December 31, 2020	$	0.25	7,987,349


	Weighted average exercise price (C$)		Number of warrants
Balance as of January 1, 2019	$	0.26	25,457,623
Exercise of warrants	0.26		(7,390,961)

Balance as of December 31, 2019	$	0.26	18,066,662

For a description of the Altria Warrant, see Note 14. As of December 31, 2020, the Company had outstanding warrants as follows:


Grant date	Expiry date	Weighted average exercise price (C$)		Number of warrants
May 13 – 27, 2016	May 13 – 27, 2021	$	0.25	7,987,349
As of December 31, 2020		$	0.25	7,987,349

(b)Stock options

(i)Stock option plans

The Company adopted an amended and restated stock option plan dated May 26, 2015 (the “2015 Stock Option Plan”), which was approved by shareholders of the Company at the annual general meeting of shareholders held on June 28, 2017. The 2015 Stock Option Plan allowed the Company’s Board of Directors (the “Board”) to award options to purchase shares to directors, officers, key employees and service providers of the Company. As of June 28, 2018, no further awards will be granted under the 2015 Stock Option Plan; however, shares may be purchased via option exercise by the holders of any outstanding options previously issued under the 2015 Stock Option Plan.

On June 28, 2018, the shareholders of the Company approved a stock option plan (the “2018 Stock Option Plan”), which replaced the 2015 Stock Option Plan. The 2018 Stock Option Plan terminated the Company’s ability to grant equity under the 2015 Stock Option Plan. As of June 25, 2020, the date on which the 2020 Omnibus Plan (as defined below) was approved by the shareholders of the Company, no further awards will be granted under the 2018 Stock Option Plan; however, shares may be purchased via option exercise by the holders of any outstanding options previously issued under the 2018 Stock Option Plan.

On March 29, 2020, the Board adopted a new omnibus equity incentive plan (the “2020 Omnibus Plan”), which was approved by the shareholders of the Company at the annual and special meeting of shareholders held on June 25, 2020. The 2020 Omnibus Plan provides for grants of stock options, share appreciation rights, restricted shares, restricted share units (“RSUs”) and other share-based or cash-based awards, which are subject to terms as determined by the Compensation Committee of the Board, and awards may be granted to eligible employees, non-employee directors and consultants. The 2020 Omnibus Plan terminated the Company’s ability to grant equity awards under the 2018 Stock Option Plan and restricted stock units under the Employment Inducement Plan.

Options represent the right to purchase Company common shares on the date of exercise at a stated exercise price. The exercise price of an option generally must be at least equal to the fair market value of the Company common shares on the date of grant. The Compensation Committee of the Board (“Compensation Committee”) may provide for options to be exercised only as they vest or to be immediately exercisable with any shares issued on exercise being subject to the Company’s right of repurchase that lapses as the shares vest. Vesting conditions for grants of options are determined by the Compensation Committee. The typical vesting for stock option grants is quarterly vesting over three to five years. The maximum term of options granted under the 2020 Omnibus Plan is seven years. Participants under the 2020 Omnibus Plan are eligible to be granted options to purchase shares at an exercise price established upon approval of the grant by the Compensation Committee. When options are granted, the exercise price is, with respect to a particular date, the closing price as reported by the TSX or the Nasdaq and, if the shares are not traded on the TSX or the Nasdaq, any other stock exchange on which the Company’s common shares are traded (as selected by the Compensation Committee in good faith taking into account applicable legal and tax requirements) on the immediately preceding trading day (the “Fair Market Value”). The 2020 Omnibus Plan does not authorize grants of options with an exercise price below the Fair Market Value.

The equity plans described above have the following stock options outstanding:


	Shares outstanding as of December 31,
	2020	2019	2018
2020 Omnibus Plan	2,000,000	—	—
2018 Stock Option Plan	1,627,715	1,817,287	285,000
2015 Stock Option Plan	10,127,433	12,332,215	12,617,995
Total stock options outstanding	13,755,148	14,149,502	12,902,995

For the year ended December 31, 2020, the total stock-based compensation expense associated with the equity plans was $7,185 (December 31, 2019 – $10,278; December 31, 2018 - $8,151).

(ii) Summary of changes

The following is a summary of the changes in options during the year ended December 31, 2020 and December 31, 2019:


	Weighted average exercise price (C$)		Number of options	Weighted average remaining contractual term (years)
Balance as of January 1, 2020	$	4.84	14,149,502	2.56
Issuance of options(i)	6.96		2,000,000
Exercise of options	2.03		(2,131,939)
Cancellation, forfeiture and expiry of options	14.34		(262,415)
Balance as of December 31, 2020	$	5.40	13,755,148	2.30
Exercisable at December 31, 2020	$	3.75	9,643,682	1.34

(i)The weighted average exercise price reflects the conversion of foreign currency-denominated options at the exchange rates as of December 31, 2020. For foreign currency-denominated options, the weighted average exercise prices are translated using exchange rates as of the settlement date.


	Weighted average exercise price (C$)		Number of options	Weighted average remaining contractual term (years)
Balance as of January 1, 2019	$	2.99	12,902,995	3.35
Issuance of options	20.08		1,534,162
Exercise of options	3.48		(282,572)
Cancellation, forfeiture and expiry of options	2.27		(5,083)
Balance as of December 31, 2019	$	4.84	14,149,502	2.56
Exercisable at December 31, 2019	$	2.93	9,034,714	2.27

(iii)Fair value of options issued

The fair value of the options issued during the year was determined using the Black-Scholes option pricing model, using the following inputs:


	2020	2019
Share price at grant date (per share)	C$6.96	C$15.34 – $24.75
Exercise price (per option)(i)	C$6.96	C$15.34 – $24.75
Risk-free interest rate	0.43%	1.39% – 1.62%
Expected life of options (in years)(ii)	5	5
Expected annualized volatility	91%	82%
Expected dividend yield	—	—
Weighted average Black-Scholes value at grant date (per option)	C$4.84	C$13.03
Forfeiture rate	—	—

(ii)The expected life of the awards represents the period of time options are expected to be outstanding and is estimated considering vesting terms and employees’ and non-employees’ historical exercise and, where relevant, post-vesting employment termination behavior. Volatility was estimated by using the historical volatility of the Company’s share price, adjusted for the Company’s expectation of volatility going forward. The risk-free interest rate was based on the Bank of Canada government bonds with a remaining term equal to the expected life of the options at the grant date.

The weighted average fair value per share at grant date of the options during the year ended December 31, 2020 was C$4.84 per share (December 31, 2019 – C$13.03 per share).

(c)Restricted share units

RSUs are granted under the 2020 Omnibus Plan. RSUs represent an equivalent amount of Company common shares on the date of issuance at fair value. Fair value is determined using the closing price of the trading day immediately preceding the date of grant. RSUs issued under the 2020 Omnibus Plan typically vest over a three-year period following the grant date, have no performance requirements and no forfeiture rate.

On July 20, 2020, the Company entered into separation agreements with Robert Rosenheck and another Redwood employee pursuant to which they resigned from their employment with Redwood. In connection with such separation agreements, 732,972 outstanding and unvested RSUs were accelerated and vested during the year ended December 31, 2020.

For the year ended December 31, 2020, the Company recorded $8,176 (December 31, 2019 – $889) in share-based compensation expense related to these RSUs. No RSUs were granted in 2018.

The following is a summary of the changes in RSUs:


	Number of RSUs	Weighted average grant date fair value (C$)
Balance at January 1, 2020	732,972	$	15.34
Granted	957,854	7.66
Exercised	(732,972)	15.34
Cancellation and forfeitures	(9,497)	7.52
Balance at December 31, 2020	948,357	$	7.66


	Number of RSUs	Weighted average grant date fair value (C$)
Balance at January 1, 2019	—	$	—
Granted	732,972	15.34
Balance at December 31, 2019	732,972	$	15.34

(d)Deferred share units

On August 10, 2019, the Company established a cash-settled deferred share unit plan (“DSU Plan”) pursuant to which its non-executive directors receive deferred share units (“DSUs”). The DSU Plan is designed to promote a greater alignment of long-term interests between non-executive directors and shareholders. The number of DSUs granted under the DSU Plan (including fractional DSUs) is determined by dividing the amount of remuneration payable by the closing price as reported by the TSX on the trading day immediately preceding the date of grant. DSUs are payable at the time a non-executive director ceases to hold the office of director for any reason and are settled by a lump-sum cash payment, in accordance with the terms of the DSU Plan, based on the fair value of the DSUs at such time. The fair value of the cash payout is determined by multiplying the number of DSUs vested at the payout date by the closing price as reported by the TSX on the trading day immediately preceding the payout date. The fair value of the cash payout is determined at each reporting date based on the fair value of the Company’s common shares at the reporting date and is recorded within other liabilities. No DSUs were granted during 2018.

The following is a summary of the changes in DSUs:


	Number of DSUs	Financial liability
Balance at January 1, 2020	33,397	$	255
Granting and vesting of DSUs	58,380	338
Liabilities settled	(8,484)	(46)
Loss (gain) on revaluation	—	30
Balance at December 31, 2020	83,293	$	577


	Number of DSUs	Financial liability
Balance at January 1, 2019	—	$	—
Granting and vesting of DSUs	33,397	452
Loss (gain) on revaluation	—	(197)
Balance at December 31, 2019	33,397	$	255

Earnings (loss) Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings (loss) Per Share

Basic and diluted earnings (loss) per share from continuing operations are calculated using the following numerators and denominators:


	2020		2019		2018
Basic earnings (loss) per share computation
Income (loss) from continuing operations attributable to common shareholders of Cronos Group	$	(72,487)	$	1,166,869	$	(20,742)
Weighted average number of common shares outstanding	351,576,848		310,067,179		172,269,170
Basic earnings (loss) per share	$	(0.21)	$	3.76	$	(0.12)
Diluted earnings (loss) per share computation
Income (loss) from continuing operations used in the computation of basic earnings (loss) per share	$	(72,487)	$	1,166,869	$	(20,742)
Adjustment for gain on revaluation of derivative liabilities	—		(24,416)		—
Income (loss) from continuing operations used in the computation of diluted income (loss) per share	(72,487)		1,142,453		(20,742)

Weighted average number of common shares outstanding used in the computation of basic earnings (loss) per share	351,576,848		310,067,179		172,269,170
Dilutive effect of warrants	—		19,481,352		—
Dilutive effect of stock options	—		10,649,487		—
Dilutive effect of restricted share units	—		732,972		—
Dilutive effect of Altria Warrant	—		—		—
Dilutive effect of Top-up Rights – exercised and exercisable fixed price	—		1,881,002		—
Weighted average number of common shares for computation of diluted income (loss) per share	351,576,848		342,811,992		172,269,170
Diluted earnings (loss) per share(i)	$	(0.21)	$	3.33	$	(0.12)

(i)In computing diluted earnings per share, incremental common shares are not considered in periods in which a net loss is reported, as the inclusion of the common share equivalents would be anti-dilutive.

Basic and diluted loss per share from discontinued operations are calculated using the following numerators and denominators:


	2020		2019		2018
Basic loss from discontinued operations per share computation
Loss from discontinued operations attributable to common shareholders of Cronos Group	$	(650)	$	(363)	$	(894)
Weighted average number of common shares outstanding	351,576,848		310,067,179		172,269,170
Basic loss from discontinued operations per share(i)	$	0.00	$	0.00	$	(0.01)

The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive or because conditions for contingently issuable shares were not satisfied at the end of the reporting periods.


	2020	2019	2018
Ginkgo Equity Milestones	14,674,904	14,674,904	—
Pre-emptive Rights	11,534,475	12,006,740	—
Top-up Rights – fixed price	17,214,621	25,103,456	—
Top-up Rights – market price	3,413,065	1,255,223	—
Altria Warrant	80,056,296	77,514,993	—
Warrants	15,147,116	—	25,457,623
Stock options	9,218,674	1,315,787	12,902,995
Restricted share units	79,611	—	—
Total anti-dilutive securities	151,338,762	131,871,103	38,360,618

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Accumulated Other Comprehensive Income (Loss)

The following is a continuity schedule of accumulated other comprehensive income (loss):


	2020		2019		2018
Net unrealized gain (loss) on revaluation and disposal of other investments
Balance at January 1	$	5	$	5	$	446
Cumulative effect from adoption of ASU 2016-01	—		—		(444)
Net unrealized (loss) gain	—		—		3

Balance at December 31	5		5		5

Net foreign exchange gain (loss) on translation of foreign operations
Balance at January 1	27,833		(9,875)		2,456
Net unrealized (loss) gain	15,161		37,708		(12,331)
Balance at December 31	42,994		27,833		(9,875)
Total other comprehensive income (loss)	$	42,999	$	27,838	$	(9,870)

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

For financial reporting purposes, income (loss) from continuing operations before income taxes includes the following components:


	Year ended December 31,
	2020		2019		2018
Rest of World	$	12,679	$	1,169,007	$	(20,923)
United States	(85,952)		(3,070)		—
Total	$	(73,273)	$	1,165,937	$	(20,923)

The loss before income taxes above excludes losses from discontinued operations of $650 for the year ended December 31, 2020 (December 31, 2019 – $363; December 31, 2018 – $894).

Income tax expense consists of the following components:


	Year ended December 31,
	2020		2019		2018
Current:
Rest of World	$	1,024	$	—	$	—
United States	323		—		—
Total	$	1,347	$	—	$	—
Deferred:
Rest of world	$	—	$	—	$	—
United States	—		—		—
Total	$	—	$	—	$	—

Included in accounts payable and other liabilities as of December 31, 2020 is $865 (December 31, 2019 – $nil; December 31, 2018 – $nil) related to current income tax expense above.

Income tax differs from that computed using the combined Canadian federal and provincial statutory income tax rate of 26.5%. Reconciliation of the expected income tax to the effective tax rate in continuing operations is as follows:


	Year ended,
	2020			2019			2018
Income (loss) before income taxes	$	(73,273)		$	1,165,937		$	(20,923)
Effective income tax rate	26.5		%	26.5		%	26.5		%
Expected income tax expense (benefit)	$	(19,417)		$	308,973		$	(5,545)

Non-taxable income	(711)			(2,156)			14
Non-deductible share-based compensation	2,498			2,839			2,466
Non-deductible expenses	1,364			764			—
Non-deductible transaction costs	3,146			1,523			—
Effect of provincial tax rate difference	(15)			(44)			(64)
Effect of tax rates outside of Canada	(362)			70			—
Fair value gain on financial liabilities	(34,250)			(338,409)			—
Changes in valuation allowance	48,227			25,808			3,437
Other	867			632			(308)
Income tax expense (recovery), net	$	1,347		$	—		$	—

The valuation allowance recorded against the loss on discontinued operations is not reflected in the effective tax rate reconciliation presented above for continuing operations.

The following table summarizes the significant components of the Company’s deferred tax assets and liabilities as of December 31, 2020 and December 31, 2019:


	As of
	2020		2019
Deferred assets:
Tax loss carryforwards	$	67,476	$	30,908
Interest expense carryforwards	1,407		—
Deferred financing costs	4,233		5,690
Share issuance cost	1,573		2,217
Finance lease obligation	1,953		1,491
Plant and equipment	5,945		871
Investment	307		395
Intangible asset	4,218		—
Reserve	1,858		—
Other	570		482
Total deferred tax assets	89,540		42,054
Less valuation allowance	(85,935)		(36,948)
Net deferred tax assets	3,605		5,106

Deferred tax liabilities:
Inventory	—		(1,227)
Plant and equipment	—		—
Intangible assets	—		(2,126)
Investment	—		—
License	(1,662)		(293)
Right-of-use assets	(1,943)		(1,460)
Total deferred tax liabilities	(3,605)		(5,106)
Net deferred tax liability	$	—	$	—

The realization of deferred tax assets is dependent on the Company’s generating sufficient taxable income in the years that the temporary differences become deductible. A valuation allowance has been provided for the deferred tax assets that the Company determined did not meet the more-likely-than-not recognition threshold under U.S. GAAP.

As of December 31, 2020, the Company had net operating losses in Canada, the U.S., and Israel available to offset future years’ taxable income of approximately $177,651, $62,851, and $14,042, respectively. As of December 31, 2019, the Company had net operating losses in Canada, the U.S., and Israel available to offset future years’ taxable income of approximately $92,773, $14,374, and $8,763, respectively. The net operating losses in Canada will begin to expire, for purposes of carryforward, in fiscal year 2032. The net operating losses in the U.S. can be carried forward indefinitely for federal purposes. The net operating losses in Israel can be carried forward indefinitely.

Utilization of the net operating loss carryforwards may be subject to limitations under the tax laws applicable in each tax jurisdiction due to ownership changes that could occur in the future. These ownership changes could limit the amount of net operating loss carryforwards and other deferred tax assets that can be utilized to offset future taxable income and tax expense. Specifically, if Altria exercises its warrant the Company would recognize a change in control event and certain Canadian net operating loss carryforwards may be limited. Due to the existence of the valuation allowance, limitations created by ownership changes, if any, will not impact the Company’s effective tax rate.

The Company files federal income tax returns in Canada, Israel and the U.S. The Company has open tax years with the taxation jurisdictions. These open years contain certain matters that could be subject to differing interpretations of applicable tax laws and regulations and tax treaties, as they relate to the amount, timing, or inclusion of revenue and expense.


Jurisdiction						Open Years
Canada						2016 – 2020
United States						2018 – 2020
Israel						2019 – 2020

The following table outlines the movements in the valuation allowance:


	Balance at beginning of year		Change due to foreign exchange		Increase		Balance at end of year
Year ended December 31, 2020	$	(36,948)	$	(693)	$	(48,294)	$	(85,935)
Year ended December 31, 2019	(7,931)		(998)		(28,019)		(36,948)

As of December 31, 2020 and December 31, 2019, the Company recorded a valuation allowance of $85,935 and $36,948, respectively. The valuation allowance increased by $48,294 and $28,019 during the years ended December 31, 2020 and December 31, 2019, respectively. The increase in the valuation allowance during the years ended December 31, 2020 and December 31, 2019 was primarily due to an increase in net operating loss carryforwards, the utilization of which did not meet the more-likely-than-not recognition threshold.

Accounting guidance clarifies the accounting for uncertain tax positions and prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return. Additionally, the authoritative guidance addresses the de-recognition, classification, accounting in interim periods and disclosure requirements for uncertain tax positions. Only tax positions that meet the more-likely-than-not recognition threshold may be recognized. There were no identified unrecognized tax benefits as of December 31, 2020 or December 31, 2019.

The Company considers all earnings and profits of its subsidiaries outside Canada to be indefinitely reinvested. As of December 31, 2020 and December 31, 2019, the amount of undistributed earnings upon which income taxes have not been provided is immaterial to these consolidated financial statements.

Commitments and Contingencies Disclosure [Abstract]

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 + Details

Commitments

12 Months Ended

Dec. 31, 2020

Commitments

(a)Lease Commitments

The following is a summary of the Company’s future minimum lease payments under operating leases for its premises due in future fiscal years:


	As of December 31,
	2020
2021	$	2,381
2022	2,302
2023	2,201
2024	1,711
2025	1,505
2026 and thereafter	1,916

In addition to the minimum lease payments, the Company is required to pay realty taxes and other occupancy costs in accordance with the terms of the lease agreements.

(b)R&D commitments

(i) Ginkgo. On September 4, 2018, the Company announced an R&D partnership with Ginkgo Bioworks Inc. (“Ginkgo”) to develop scalable and consistent production of eight target cannabinoids, including THC, CBD and a variety of other lesser known and rarer cannabinoids. As part of this partnership, Cronos Group has agreed to issue up to 14,674,903 common shares of the Company (aggregate value of approximately $100,000 as of July 17, 2018 assuming all milestones are met, collectively the “Ginkgo Equity Milestones”) in tranches and $22,000 in cash subject to Ginkgo’s achievement of certain milestones and to fund certain R&D expenses, including foundry access fees.

(ii) Technion. On October 15, 2018, the Company entered into a sponsored research agreement with the Technion Research and Development Foundation of the Technion – Israel Institute of Technology (“Technion”). Research is focused on the use of cannabinoids and their role in regulating skin health and skin disorders. The Company has committed to $1,784 of research funding over a period of three years. An additional $4,900 of cash payments will be paid to Technion upon the achievement of certain milestones.

(c)Altria consulting services

On February 18, 2019, the Company entered into an agreement with a wholly owned subsidiary of Altria (which agreement was subsequently amended and restated to substitute Altria Pinnacle as a party thereto), to receive strategic advisory and project management services from Altria Pinnacle (the “Services Agreement”). Pursuant to the Services Agreement, the Company will pay Altria Pinnacle a monthly fee equal to the product of 105% and the sum of: (i) all costs directly associated with the services incurred during the monthly period, and (ii) a reasonable and appropriate allocation of indirect costs incurred during the monthly period. The Company will also pay all third-party direct charges incurred during the monthly period in connection with the services, including any reasonable and documented costs, fees and expenses associated with obtaining any consent, license or permit. The Services Agreement will remain in effect until terminated by either party. See Note 25.

(d)Use of publicity rights in brand development

On December 23, 2019, the Company issued 856,017 restricted common shares to Kristen Bell, an accredited investor, in a private placement (“Private Placement”) in reliance on Section 4(a)(2) of the Securities Act of 1933 in connection with the use of certain publicity rights in the brand development of Happy Dance™. One-third of such common shares vested on January 31, 2020 with the remaining shares vesting in two equal installments on June 23, 2021, and December 23, 2022. The issuance did not involve a public offering and was made without general solicitation or advertising. The total fair value of the consideration paid for the issuance of such common shares was approximately $6,000. The fair value of the shares was calculated using the 10-day volume weighted average price per share of the Company’s common shares on Nasdaq.

Additional restricted common shares are issued when certain performance milestones are achieved:

(i) First Performance Issuance: if, prior to December 23, 2022, the product line generates at least $50,000 in net revenue, additional common shares with an aggregate value of $1,000 will be issued.

(ii) Second Performance Issuance: if, prior to December 23, 2022, the product line generates at least $100,000 in net revenue, additional common shares with an aggregate value of $1,000 will be issued (together with the First Performance Issuance noted above).

The number of common shares that would be issued upon achieving the foregoing milestones will be determined based on the 10-day volume weighted average price per share of the Company’s common shares on Nasdaq as of the trading day immediately prior to the date of filing with the Securities and Exchange Commission of the Company’s audited year-end financial statements for the first fiscal year during which such milestones are achieved.

Contingencies	12 Months Ended
Contingencies	Dec. 31, 2020
Loss Contingency [Abstract]
Contingencies	Contingencies The Company is subject to various legal proceedings in the ordinary course of its business and in connection with its marketing, distribution and sale of its products. Many of these legal proceedings are in the early stages of litigation and seek damages that are unspecified or not quantified. Although the outcome of these matters cannot be predicted with certainty, the Company does not believe these legal proceedings, individually or in the aggregate, will have a material adverse effect on its consolidated financial condition but could be material to its results of operations for any particular reporting period depending, in part, on its results for that period. (a)Class action complaints relating to restatement On March 11 and 12, 2020, two alleged shareholders of the Company separately filed two putative class action complaints in the U.S. District Court for the Eastern District of New York against the Company and its former Chief Executive Officer (now Executive Chairman) and Chief Financial Officer. The court has consolidated the cases, and the consolidated amended complaint alleges violations of Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder against all defendants, and Section 20(a) of the Exchange Act against the individual defendants. The consolidated amended complaint generally alleges that certain of the Company’s prior public statements about revenues and internal controls were incorrect based on the Company’s March 2, 2020 disclosure that the Audit Committee of the Board was conducting a review of the appropriateness of revenue recognized in connection with certain bulk resin purchases and sales of products through the wholesale channel. The consolidated amended complaint does not quantify a damage request. Defendants moved to dismiss on February 8, 2021. On June 3, 2020, an alleged shareholder filed a Statement of Claim, as amended on August 12, 2020, in the Ontario Superior Court of Justice in Toronto, Ontario, Canada, seeking, among other things, an order certifying the action as a class action on behalf of a putative class of shareholders and damages of an unspecified amount. The Amended Statement of Claim names the Company, its former Chief Executive Officer (now Executive Chairman), Chief Financial Officer, former Chief Financial Officer and Chief Commercial Officer, and current and former members of the Board as defendants and alleges breaches of the Ontario Securities Act, oppression under the Ontario Business Corporations Act and common law misrepresentation. The Amended Statement of Claim generally alleges that certain of the Company’s prior public statements about revenues and internal controls were misrepresentations based on the Company’s March 2, 2020 disclosure that the Audit Committee of the Board was conducting a review of the appropriateness of revenue recognized in connection with certain bulk resin purchases and sales of products through the wholesale channel, and the Company’s subsequent restatement. The Amended Statement of Claim does not quantify a damage request. (b)Regulatory reviews relating to restatement The Company has been responding to requests for information from various regulatory authorities relating to its previously disclosed restatement of its financial statements for the first three quarters of 2019. The Company is responding to all such requests for information and cooperating with all regulatory authorities. The Company cannot predict the outcome of any such regulatory review or investigation and it is possible that additional investigations or one or more formal proceedings may be commenced against the Company and its current and former officers and directors in connection with these regulatory reviews and investigations. (c)Litigation relating to marketing, distribution and sale of products On June 16, 2020, an alleged consumer filed a Statement of Claim on behalf of a class in the Court of Queen’s Bench of Alberta in Alberta, Canada, against the Company and other Canadian cannabis manufacturers and/or distributors. On December 4, 2020, a Third Amended Statement of Claim was filed, which added a second alleged consumer. The Third Amended Statement of Claim alleges claims related to the defendants’ advertised content of cannabinoids in cannabis products for medicinal use on or after June 16, 2010 and cannabis products for adult use on or after October 17, 2018. The Third Amended Statement of Claim seeks a total of C$500 million for breach of contract, compensatory damages, and unjust enrichment or such other amount as may be proven in trial and C$5 million in punitive damages against each defendant, including the Company. The Third Amended Statement of Claim also seeks interest and costs associated with the action. The Company has not responded to the Third Amended Statement of Claim. A number of claims, including purported class actions, have been brought in the U.S. against companies engaged in the U.S. hemp business alleging, among other things, violations of state consumer protection, health and advertising laws. On April 8, 2020, a putative class action complaint was filed in the U.S. District Court for the Central District of California against Redwood, alleging violations of California’s Unfair Competition Law, False Advertising Law, Consumers Legal Remedies Act, and breaches of the California Commercial Code for breach of express warranties and implied warranty of merchantability with respect to Redwood’s marketing and sale of U.S. hemp products. The complaint did not quantify a damage request. On April 10, 2020, the class action complaint was dismissed for certain pleading deficiencies and the plaintiff was granted leave until April 24, 2020 to amend the complaint to establish federal subject matter jurisdiction. On April 28, 2020, the action was dismissed without prejudice for failure to prosecute and for failure to comply with a court order. As of the date of this Annual Report, the plaintiff has not refiled the complaint.

Supplementary Cash Flow Information

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Supplementary Cash Flow Information

The net changes in non-cash working capital items are as follow:


	Year ended December 31,
	2020		2019		2018
Accounts receivable	$	(4,724)	$	(702)	$	(2,569)
Prepaids and other receivables	(5,300)		(10,509)		(2,382)
Current portion of loans receivable	—		(4,585)		—
Inventory	(28,094)		(51,888)		(4,092)
Accounts payable and other liabilities	4,175		13,476		12,705
Total	$	(33,943)	$	(54,208)	$	3,662

Financial Instruments	12 Months Ended
Financial Instruments	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Financial Instruments	Financial Instruments The Company’s activities expose it to a variety of financial risks, including credit risk, liquidity risk, and market risk (including interest rate risk) and foreign currency risk. (a)Credit risk Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit risk from its operating activities, primarily accounts receivable and other receivables, and its investing activities, including cash held with banks and financial institutions, short term investments, loan receivable, and advances to joint ventures. The Company’s maximum exposure to this risk is equal to the carrying amount of these financial assets, which amounted to $1,403,491 as of December 31, 2020 (December 31, 2019 – $1,586,978). (i)Accounts receivable The Company had accounts receivable of $8,928 as of December 31, 2020 (December 31, 2019 – $4,638). An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on the days past due for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. Accounts receivable are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, amongst others, the failure of a debtor to engage in a repayment plan, and a failure to make contractual payments for a period of greater than 120 days past due. For the year ended December 31, 2020, the Company recognized an approximate CECL of $74 (December 31, 2019 – $136). The Company has assessed that there is a concentration of credit risk as 78% of the Company’s accounts receivable were due from four customers as of December 31, 2020 (December 31, 2019 – 56% due from two customers) with an established credit history with the Company. (ii) Cash and cash equivalents, short-term investments, and other receivables The Company held cash and cash equivalents of $1,078,023 at December 31, 2020 (December 31, 2019 – $1,199,693). The short-term investments and related interest receivable of $211,766 (December 31, 2019 – $306,347) represents short-term investments with a maturity of less than a year and accrued interest as of December 31, 2020. The cash and cash equivalents and short-term investments, including guaranteed investment certificates and bankers’ acceptances, are held with central banks and financial institutions that are highly rated. In addition to interest receivable, other receivables include sales taxes receivable from the government. As such, the Company has assessed an insignificant loss allowance on these financial instruments. (iii)Advances to joint ventures The Company had advances to joint ventures of $467 as of December 31, 2020 (December 31, 2019 – $19,437). The Company has assessed the credit risk of advances to joint ventures based on the financial position of the borrowers, and the regulatory and economic environment of the borrowers. The expected loss rates are based on the historical credit losses experienced. Where appropriate, the historical loss rates are adjusted to reflect current and forward-looking information. The Company has assessed the loss allowance on these advances as of December 31, 2020 to be $nil (December 31, 2019 – $nil). (b)Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due and arises principally from the Company’s accounts payable and other liabilities. The Company had accounts payable of $12,107 as of December 31, 2020 (December 31, 2019 – $9,194). The Company’s policy is to review liquidity resources and ensure that sufficient funds are available to meet financial obligations as they become due. Further, the Company’s management is responsible for ensuring funds exist and are readily accessible to support business opportunities as they arise. The Company’s funding is primarily provided in the form of capital raised through the issuance of common shares and warrants. As of December 31, 2020, 64% of the Company’s payables were due to four vendors (December 31, 2019 – 42% due to three vendors). (c)Market risk Market risk is the risk that the fair value of, or future cash flows from, the Company’s financial instruments will significantly fluctuate due to changes in market prices. The value of financial instruments can be affected by changes in interest rates, market and economic conditions, and equity and commodity prices. The Company is exposed to market risk in divesting its investments, such that, unfavorable market conditions could result in dispositions of investments at less than their carrying values. Further, the revaluation of securities classified as fair value through net income could result in significant write-downs of the Company’s investments, which would have an adverse impact on the Company’s financial position. The Company manages risk by having a portfolio of securities from multiple issuers, such that the Company was not materially exposed to any one issuer. (d)Interest rate risk Interest rate risk is the risk that the value or yield of fixed-income investments may decline if interest rates change. Fluctuations in interest rates may impact the level of income and expense recorded on the cash equivalents and short-term investments, and the market value of all interest-earning assets, other than those which possess a short term to maturity. During the year ended December 31, 2020, the Company had net interest income of $18,415 (December 31, 2019 – $27,969). A 10% change in the interest rate in effect on December 31, 2020 and December 31, 2019, would not have a material effect on (i) fair value of the cash equivalents and short-term investments as the majority of the portfolio has a maturity date of three months or less, or (ii) interest income. Management continues to monitor external interest rates and revise the Company’s investment strategy as a result. During the year ended December 31, 2020, the Company’s average variable interest rate fell 1.49%, which resulted in a decrease of net interest income of $15,671 in the period. During the year ended December 31, 2019, the Company’s average variable interest rate did not materially change. (e)Currency rate risk Currency rate risk is the risk that the fair value of, or future cash flows from, the Company’s financial instruments will significantly fluctuate due to changes in foreign exchange rates. The Company is exposed to this risk on advances to joint ventures denominated in A$ and C$. The Company is further exposed to this risk through subsidiaries operating in Israel and the U.S. as the Company’s functional currency is in Canadian dollars. The Company does not currently use foreign exchange contracts to hedge its exposure to currency rate risk. As such, the Company’s financial position and financial results may be adversely affected by the unfavorable fluctuations in currency exchange rates. As of December 31, 2020, the Company had foreign currency gain (loss) on translation of $14,951 (December 31, 2019 – $37,687). A 10% change in the exchange rates for the foreign currencies would affect the carrying value of net assets by approximately $170,817 as of December 31, 2020 (December 31, 2019 – $174,902).

Fair Value Measurement

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

The Company complies with ASC 820 Fair Value Measurements, for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. In general, fair values are determined by:

•Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves.

•Level 3 inputs are unobservable data points for the asset or liability, and includes situations where there is little, if any, market activity for the asset or liability.

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2020 and December 31, 2019 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


	As of December 31, 2020
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	1,078,023	$	—	$	—	$	1,078,023
Short-term investments	211,766		—		—		211,766
Derivative liabilities	—		—		163,410		163,410


	As of December 31, 2019
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	1,199,693	$	—	$	—	$	1,199,693
Short-term investments	306,347		—		—		306,347
Derivative liabilities	—		—		297,160		297,160

Related Party Transactions and Balances

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

Related Party Transactions and Balances

12 Months Ended

Dec. 31, 2020

On March 8, 2019, in connection with the Altria Investment, Altria, through certain of its wholly owned subsidiaries, purchased a 45% equity interest in the Company.

The Company incurred the following expenses for consulting services from Altria Pinnacle LLC, a subsidiary of Altria (“Altria Pinnacle”):


	Year ended December 31,
	2020		2019
Altria Pinnacle – expense	$	1,199	$	3,479
Total	$	1,199	$	3,479

No expenses for consulting services from Altria Pinnacle during the year ended December 31, 2018.

The following is a summary of amounts payable related to the consulting services with Altria Pinnacle:


	As of December 31,
	2020		2019
Altria Pinnacle – payable	$	—	$	1,152
Total	$	—	$	1,152

During 2019, the Company purchased machinery and equipment amounting to $1,258 from a subsidiary of Altria, which was fully paid for during the year.

Refer to Note 14 for further information on the derivative liabilities related to the Altria Investment.

There were no other material related party transactions during the years ended December 31, 2020, December 31, 2019 and December 31, 2018.

Non-monetary Transactions	12 Months Ended
Non-monetary Transactions	Dec. 31, 2020
Nonmonetary Transactions [Abstract]
Non-monetary Transactions	Non-monetary Transactions The Company had no non-monetary transactions during the year ended December 31, 2020 or 2018. On March 28, 2019, the Company entered into two transactions to simultaneously purchase and sell inventory to a third party. The Company purchased cannabis resin from the third party and in turn sold cannabis dry flower to the third party. The transactions involved the exchange of work in progress inventory and were accounted for at the carrying value of inventory transferred by the Company, which equaled the value of the cannabis resin received. No revenue was recognized as a result of this transaction and no gain or loss was recognized in the consolidated statements of net income (loss) and comprehensive income (loss). In September 2019, the Company entered into three transactions to simultaneously purchase and sell inventory to a third party. The Company purchased cannabis resin and cannabis tincture oil and in turn sold cannabis dry flower to the third party. The transactions involved the exchange of work in progress inventory and were accounted for in accordance with ASC 845 Non-monetary transactions at the carrying value of inventory transferred by the Company. $2,300 was recognized in revenue as a result of this transaction and no gain or loss was recognized in the consolidated statements of net income (loss) and comprehensive income (loss).

Business Combinations

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Combinations

On September 5, 2019, the Company closed the Redwood Acquisition. Redwood manufactures, markets and distributes U.S. hemp-derived supplements and cosmetics product through e-commerce, retail and hospitality channels in the U.S. under the brand Lord Jones™. Redwood’s products use high quality U.S. hemp extract that retains naturally occurring phytocannabinoids and terpenes found in the plant. The Company plans to leverage Redwood’s capabilities to capitalize on the significant demand to further create and scale U.S. hemp-derived consumer products and brands.

In 2019, the Company acquired all the issued and outstanding shares of each of the four Redwood operating subsidiaries for an aggregate consideration of $283,300, which included $227,191 in cash and 5,086,586 common shares of the Company with a fair value of $56,109. The fair value of the shares issued as part of the consideration paid was based on the volume weighted average trading price of the common shares on Nasdaq on each of the ten consecutive trading days prior to the date of the Membership Interest Purchase Agreement dated August 1, 2019 (the “MIPA”), by and among the Company, Redwood Holding Group, LLC, and certain Key Persons solely for the purposes as described in the MIPA, at C$14.74 per share.

The Redwood Acquisition was unanimously approved by the board of directors of Redwood Holdings Group, LLC and by the Board following the unanimous recommendation of a special committee of independent directors (“Special Committee”). A Special Committee composed entirely of independent directors of the Company was formed to evaluate and make recommendations to the Board since one of our directors, Jason Adler, and Michael Gorenstein, our Executive Chairman and former President and Chief Executive Officer, each held an indirect interest in Redwood Holding Group, LLC by way of their interest in certain funds affiliated with Gotham Green Partners, which funds were equity holders in Redwood Holding Group, LLC. Jason Adler is the co-founder and Managing Member of Gotham Green Partners, a private equity firm focused primarily on early-stage investing in companies in the cannabis industry, and Michael Gorenstein is a co-founder and non-managing Member of Gotham Green Partners. The Special Committee engaged Perella Weinberg Partners LP as financial advisor.

The Redwood Acquisition was accounted for as a business combination as defined in ASC 805 Business Combinations. As a result of the change in control of Redwood, the assets and liabilities of Redwood are recorded at fair value in the consolidated financial statements of the Company. The following table summarizes the Company’s finalized allocation of the purchase price to assets acquired and liabilities assumed at the acquisition date.


	September 5, 2019
Fair value of net assets acquired
Cash	$	2,896
Accounts receivable (i)		647
Prepaid expenses and other assets		265
Inventory		2,806
Property and equipment		1,890
Right-of-use assets		3,533
Intangible assets (ii)		64,037
Goodwill		213,414
Accounts payable and accrued liabilities		(2,688)
Lease obligations		(3,500)
	$	283,300

(i) The fair value of acquired accounts receivable is $647. No loss allowance was recognized on acquisition.

(ii) Intangible assets include the fair value of brand name of $64,000, the remaining balance relates to software.

For the year ended December 31, 2019, acquisition-related costs of $8,531 were expensed. These costs are included in the consolidated statement of net income (loss) in financing and transaction costs.

The goodwill recognized represents the excess over the fair value of the net tangible and intangible assets acquired as a part of the Redwood acquisition. This goodwill is attributable to the expertise and reputation of the assembled workforce acquired, the expected synergies, and other intangible assets that do not qualify for separate recognition. The goodwill is not deductible for income tax purposes. The Relief-from-Royalty Method was used to value the intangible asset relating to the Lord Jones™ brand. Significant inputs include discount rate, growth rates, and cash flow projections.

During the period from September 5, 2019 to December 31, 2019, the Company recognized $3,364 in revenues and a net loss of $2,613 from Redwood operations. If the acquisition had occurred on January 1, 2019, the Company estimates that for the year ended December 31, 2019, it would have recorded an increase of $12,266 in revenues and a decrease of $1,112 in net income and that for the year ended December 31, 2018, it would have recorded an increase of $7,630 in revenues and an increase of $1,533 in net income.

There were no business combinations during the years ended December 31, 2020 or December 31, 2018.

Repurposing Charges

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Repurposing Charges

During the year ended December 31, 2019, the Company commenced initiatives to better align its evolving business and its strategy. Certain facilities at the Peace Naturals campus were repurposed from cultivation activities to provide for the following activities: additional R&D activities focused on new technologies for value-added product manufacturing; production and manufacturing of derivative products; and increased vault and warehousing capabilities.

The activities associated with the repurposing were completed as of December 31, 2019. The following table presents information associated with this plan:


	Year ended December 31, 2019
Employee termination benefits	$	889
Impairment costs associated with plan	4,439
	$	5,328

During the year ended December 31, 2019, an inventory write-down associated with the repurposing cost of $1,940 was included as part of inventory write-down on the consolidated statements of net income (loss) and comprehensive income (loss). The Company did not incur any further significant costs related to the repurposing activities.

No repurposing costs were incurred during the years ended December 31, 2020 or December 31, 2018.

As of December 31, 2020, there was no accrued liability associated with the Company’s repurposing initiative (December 31, 2019 - $907). All repurposing related charges were incurred within the Rest of World segment.

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

Segment reporting is prepared on the same basis that the Company’s chief operating decision makers (the “CODMs”) manage the business, make operating decisions and assess the Company’s performance. For the years ended December 31, 2020 and December 31, 2019, the Company determined that it has the following two reportable segments: United States and Rest of World. The United States operating segment consists of the manufacture and distribution of hemp-derived CBD infused products. The Rest of World operating segment is involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets. These two segments represent the geographic regions in which the Company operates and the different product offerings within each geographic region. The results of each segment are regularly reviewed by the CODMs to assess the performance of the segment and make decisions regarding the allocation of resources. The CODMs review adjusted earnings (loss) before interest, tax, depreciation and amortization (“Adjusted EBITDA”) as the measure of segment profit or loss to evaluate performance of and allocate resources for its reportable segments. Adjusted EBITDA is defined as earnings before interest, tax, depreciation, non-cash items and items that do not reflect management’s assessment of on-going business performance.

Reporting by operating segments follows the same accounting policies as those used to prepare the consolidated financial statements. The operating segments are presented in accordance with the same criteria used for internal reporting prepared for the CODMs. Inter-segment transactions are recorded at the stated values as agreed to by the segments.

Segment data was as follows for the year ended December 31, 2020:


	United States		Rest of World		Corporate		Total
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue
Cannabis flower	$	—	$	27,932	$	—	$	27,932
Cannabis extracts	9,495		8,759		—		18,254
Other	—		533		—		533
Net revenue	9,495		37,224		—		46,719

Share of loss from equity accounted investees	—		(4,510)		—		(4,510)

Interest revenue	16		18,585		—		18,601
Interest expense	(34)		(152)		—		(186)
Interest income (expense), net	(18)		18,433		—		18,415

Depreciation and amortization	234		2,638		—		2,872
Income tax expense	323		1,024		—		1,347
Loss from discontinued operations	—		(650)		—		(650)
Adjusted EBITDA	(28,019)		(98,349)		(20,885)		(147,253)

Consolidated balance sheets
Total assets	253,745		388,351		1,283,586		1,925,682
Investments in equity accounted investees	—		19,235		—		19,235
Goodwill	178,414		1,108		—		179,522
Purchase of property, plant and equipment	385		31,027		—		31,412

Segment data was as follows for the year ended December 31, 2019:


	United States		Rest of World		Corporate		Total
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue
Cannabis flower	$	—	$	15,020	$	—	$	15,020
Cannabis extracts	3,364		5,338		—		8,702
Other	—		28		—		28
Net revenue	3,364		20,386		—		23,750

Share of loss from equity accounted investees	—		(2,009)		—		(2,009)

Interest revenue	6		29,207		—		29,213
Interest expense	—		(1,244)		—		(1,244)
Interest income, net	6		27,963		—		27,969

Depreciation and amortization	46		2,044		—		2,090
Income tax expense	—		—		—		—
Loss from discontinued operations	—		(363)		—		(363)
Adjusted EBITDA	(1,703)		(84,826)		(11,779)		(98,308)

Consolidated balance sheets
Total assets	293,985		309,854		1,486,603		2,090,442
Investments in equity accounted investees	—		557		—		557
Goodwill	213,414		1,078		—		214,492
Purchase of property, plant and equipment	259		38,405		—		38,664

Segment data was as follows for the year ended December 31, 2018:


	United States		Rest of World		Corporate		Total
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue
Cannabis flower	$	—	$	9,210	$	—	$	9,210
Cannabis extracts	—		2,732		—		2,732
Other	—		179		—		179
Net revenue	—		12,121		—		12,121

Share of loss from equity accounted investees	—		(723)		—		(723)
Interest revenue	—		220		—		220
Interest expense	—		(139)		—		(139)
Interest income, net	—		81		—		81

Depreciation and amortization	—		807		—		807
Income tax expense	—		—		—		—
Loss from discontinued operations	—		(894)		—		(894)
Adjusted EBITDA	—		(10,357)		—		(10,357)

Consolidated balance sheets
Total assets	—		183,471		—		183,471
Investments in equity accounted investees	—		2,960		—		2,960
Goodwill	—		1,314		—		1,314
Purchase of property, plant and equipment	—		88,308		—		88,308

Adjusted EBITDA is reconciled to net income (loss) as follows for the years ended December 31, 2020, 2019 and 2018:


(in thousands of U.S. dollars)	Year ended December 31, 2020
	US		ROW		Corporate Expenses		Total
Net income (loss)	$	(77,368)	$	32,671	$	(30,573)	$	(75,270)
Adjustments
Interest expense (income), net	18		(18,433)		—		(18,415)
Income tax expense	323		1,024		—		1,347
Impairment loss on goodwill and intangible assets	40,000		—		—		40,000

Financing and transaction costs	40		—		—		40
Gain on revaluation of derivative liabilities	—		(129,254)		—		(129,254)
Gain on disposal of other investments	—		(4,789)		—		(4,789)
Share of loss from equity accounted investees	—		4,510		—		4,510
Loss from discontinued operations	—		650		—		650

Other loss (income)	20		1,814		—		1,834
Review costs related to restatement of 2019 interim financial statements	—		—		9,688		9,688
Share-based payments	8,714		6,647		—		15,361
Adjusted EBIT	(28,253)		(105,160)		(20,885)		(154,298)
Adjustments
Depreciation and amortization	234		6,811		—		7,045
Adjusted EBITDA	(28,019)		(98,349)		(20,885)		(147,253)


(in thousands of U.S. dollars)	Year ended December 31, 2019
	US		ROW		Corporate Expenses		Total
Net income (loss)	$	(3,070)	$	1,180,241	$	(11,597)	$	1,165,574
Adjustments
Interest income, net	(6)		(27,963)		—		(27,969)

Impairment loss on goodwill and intangible assets	—		—		—		—
Repurposing charges	—		7,268		—		7,268
Financing and transaction costs	117		32,091		—		32,208
Gain on revaluation of derivative liabilities	—		(1,276,819)		—		(1,276,819)
Gain on disposal of other investments	—		(16,277)		—		(16,277)
Share of loss from equity accounted investees	—		2,009		—		2,009


Loss from discontinued operations	—		363		—		363

Other loss (income)	182		(197)		(182)		(197)
Share-based payments	900		10,719		—		11,619
Adjusted EBIT	(1,877)		(88,565)		(11,779)		(102,221)
Adjustments
Depreciation and amortization	174		3,739		—		3,913
Adjusted EBITDA	$	(1,703)	$	(84,826)	$	(11,779)	$	(98,308)


(in thousands of U.S. dollars)	Year ended December 31, 2018

Net income (loss)		$	(21,817)
Adjustments
Interest income, net		(81)






Loss (gain) on disposal of other investments		(164)
Share of loss (income) from equity accounted investees		723


Loss from discontinued operations		894


Share-based payments		8,151

Adjusted EBIT		(12,294)
Adjustments
Depreciation and amortization		1,937
Adjusted EBITDA		$	(10,357)

Sources of net revenue were as follows:


	Year ended December 31,
	2020		2019
Cannabis flower	$	27,932	$	15,020
Cannabis extracts	18,254		8,702
Other	533		28
Net revenue	$	46,719	$	23,750

Net revenue attributed to a geographic region based on the location of the customer were as follows:


	Year ended December 31,
	2020		2019
Canada	$	34,538	$	20,202
United States	9,495		3,364
Other countries	2,686		184
Total	$	46,719	$	23,750

Property, plant and equipment assets were physically located in the following geographic regions:


	As of December 31,
	2020		2019
Canada	$	162,163	$	139,160
United States	2,293		2,103
Other countries	23,143		18,685
Total	$	187,599	$	159,948

The Company sells products through a limited number of major customers. Major customers are defined as customers that each individually accounted for greater than 10% of the Company’s annual revenues and greater than 10% of accounts receivable.

United States

During the years ended December 31, 2020 and December 31, 2019, the Company had no major customers in the U.S. segment.

As of December 31, 2020, $65 in expected credit losses has been recognized on receivables from contract with customers (December 31, 2019 – $12). Refer to Note 23(a).

Rest of World

During the year ended December 31, 2020, the Company earned a total net revenue before excise taxes of $34,295 from four major customers (December 31, 2019 – $7,597; December 31, 2018 – $2,186 from two and one major customers, respectively), accounting for 63% of the Company’s revenues (December 31, 2019 – 32%; December 31, 2018 – 17%).

As of December 31, 2020, $9 (December 31, 2019 – $124; December 31, 2018 – $nil) in expected credit losses has been recognized on receivables from contract with customers. Refer to Note 23(a).

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Held-for-sale Assets

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Held-for-sale Assets

During the year ended December 31, 2020, the Company advanced its plans for the sale and disposal of substantially all of the assets of OGBC. As a result, OGBC’s results of operations have been reclassified as discontinued operations in the accompanying consolidated financial statements. Accordingly, the property, plant and equipment assets of OGBC are separately reported as assets and liabilities held-for-sale as of December 31, 2020 on the consolidated balance sheet. For comparative purposes, amounts in the prior periods have been reclassified to conform to current year presentation, as disclosed below. For the year ended December 31, 2020, the Company recorded $1,860 as a loss on held-for-sale assets, including $919 as a valuation allowance loss upon reclassification of property, plant and equipment assets as held-for-sale in Q3 2020, and a further $941 impairment charge on held-for-sale assets in Q4 2020 upon surrender of the OGBC Health Canada licenses. OGBC was formerly included within the Rest of World segment.

The following table summarizes the financial information for discontinued operations as of December 31, 2020:


	Year ended December 31,
	2020		2019		2018
Consolidated statements of net income (loss) and comprehensive income (loss)
OGBC income (loss) from discontinued operations, net of income taxes	$	(650)	$	(363)	$	(894)


	As of December 31,
	2020		2019
Consolidated balance sheets
Long-term assets classified as discontinued operations	$	1,176	$	3,248

The following table presents a reconciliation of the carrying amounts of major classes of assets and liabilities of the discontinued operations to total assets and liabilities of the disposal group classified as held-for-sale in the consolidated balance sheet of December 31, 2019:


	As of December 31, 2019
	As previously disclosed		Held-for-sale adjustment		Adjusted balance
Property, plant and equipment	$	161,809	$	(1,861)	$	159,948
Intangible assets	72,320		(1,085)		71,235
Goodwill	214,794		(302)		214,492

The following table presents a reconciliation of the major classes of line items constituting reported operating loss of discontinued operations to net loss of discontinued operations for the years ended December 31, 2019 and December 31, 2018:


	Year ended December 31, 2019
	As previously disclosed		Held-for-sale adjustment		Adjusted balance
Inventory write-down	$	(29,440)	$	267	$	(29,173)
Operating expenses	(103,620)		109		(103,511)
Other income (loss)	1,287,058		(13)		1,287,045
Net income (loss) from continuing operations	1,165,574		363		1,165,937


	Year ended December 31, 2018
	As previously disclosed		Held-for-sale adjustment		Adjusted balance
Operating expenses	$	(27,554)	$	896	$	(26,658)
Other income (loss)	(476)		(2)		(478)
Net income (loss) from continuing operations	(21,817)		894		(20,923)

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of presentation

Basis of presentationThe accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the dates of the consolidated financial statements and the reported amounts of net revenues and expenses during the reporting periods. The accounting policies adopted in the preparation of the consolidated financial statements were effective as of January 1, 2020.

Segment structure

Segment structureThe Company undertook a realignment of its management structure along geographic regions in September 2019. As a result, effective September 2019, the Company’s results are reported through the following operating segments: United States and Rest of World. Prior period amounts contained in these consolidated financial statements have been adjusted to conform to the new segment presentation. Refer to Note 29 for additional information.

Basis of consolidation

Basis of consolidationThe accompanying consolidated financial statements include the accounts of the Company, and all entities in which the Company has a controlling voting interest or is the primary beneficiary of a variable interest as of and for the fiscal years ended December 31, 2020, December 31, 2019 and December 31, 2018. The Company assesses control under the variable interest entity (“VIE”) model to determine whether the Company is the primary beneficiary of that entity’s operations. If an entity is not deemed to be a VIE, the Company consolidates the entity if the Company has a controlling voting interest. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases. Investments in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, but does not have control, are accounted for under the equity method of accounting.In the consolidated statements of net income (loss) and comprehensive income (loss), the net income (loss) and comprehensive income (loss) are attributed to the equity holders of the Company and to the non-controlling interests. Non-controlling interests in the equity of Cronos Israel are presented separately in the shareholders’ equity (deficit) section of the consolidated balance sheets and consolidated statements of shareholders’ equity (deficit). All intercompany transactions and balances are eliminated upon consolidation.

Use of estimates

Use of estimatesThe preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Significant estimates and assumptions include, among other things, valuation of derivative liabilities, fair value of assets and liabilities assumed in business combinations, impairment of goodwill, inventory write-downs, valuation allowance on deferred income tax assets and uncertain tax liabilities. Actual results could differ from those estimates.

Revenue recognition

The Company’s payment terms vary by customer and product type. For individual consumer sales, payment is due prior to the transfer of control.

Variable interest entities ("VIE")

Variable interest entities (“VIE”)

Equity method investments

Inventory

Definite life intangible assets

Intangible assets with finite useful lives are amortized over their estimated useful lives using the following methods and rates:


	Method	Rate
Software	Straight-line	5 years
Enterprise resource planning (“ERP”) software	Straight-line	5 years
Health Canada licenses	Straight-line	Useful life of corresponding facilities
Israeli codes(i)	Straight-line	Useful life of corresponding facilities

Property, plant & equipment

Rate

Building

15 to 25 years

Furniture and equipment

5 to 7 years

Computer equipment

5 years

Leasehold improvements

Lesser of term of lease and useful life

Equipment under finance lease

Lesser of term of lease and useful life

Leases

Impairment of long-lived assets

Impairment of long-lived assetsThe Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The Company groups assets at the lowest level for which cash flows are separately identifiable, referred to as an asset group. The Company prepares projected undiscounted cash flow analyses for each asset or asset group. If the sum of the undiscounted cash flow is less than the carrying value of the asset or asset group, an impairment loss is recognized equal to the excess of the carrying value over the fair value, if any. Impairment losses on assets held for sale are based on the fair value, less costs to sell.Goodwill and indefinite life intangible assets are not amortized. Goodwill and indefinite life intangible assets are reviewed for impairment annually or more frequently when events or changes in circumstances indicate that fair value of the reporting unit has been reduced to less than its carrying value. The Company performs an impairment test annually in the fourth quarter by comparing the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company determined that it has two reporting units: the U.S. reporting unit and the Rest of World reporting unit.

Net earnings (loss) per share

Repurposing chargesThe Company’s repurposing charges primarily include employee termination benefits and refurbishment costs. The recognition of repurposing charges requires the Company make certain judgments and estimates regarding the nature, timing, and amount of costs associated with the planned activity. To the extent actual results differ from estimates and assumptions, a revision to the estimated liabilities, requiring the recognition of additional repurposing charges or the reduction of liabilities already recognized may be required. At the end of each reporting period, the Company evaluates the remaining accrued balances to ensure these balances are properly stated and the utilization of the reserves are for their intended purpose in accordance with planned activity.

Capital stock

Capital stockCapital stock is presented at the fair value at the time of issuance of the shares issued. Costs related to the issuance of shares are reported in equity, net of tax, as a deduction from the issuance proceeds.

Foreign currency

Income taxes

Share-based compensation

Net earnings (loss) per shareThe Company presents basic and diluted net earnings (loss) per share data for its common shares. Basic net earnings (loss) per share is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted net earnings (loss) per share is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potentially dilutive common shares that are issuable upon exercise of warrants, stock options and the Altria Warrant (as defined below) as well as the vesting of RSUs outstanding.

Cash and cash equivalents and short-term investments

Cash and cash equivalents and short-term investmentsCash and cash equivalents are comprised of cash and highly liquid investments that are readily convertible into known amounts of cash with original maturities of three months or less. Cash and cash equivalents include amounts held in dollars, C$ and ILS and security deposits. Short-term investments consist of debt securities that (i) have original maturities of greater than three months and (ii) the Company has the ability to convert into cash within one year. Short-term investments are classified as held-to-maturity. Our investments classified as held-to-maturity are recorded at cost. Interest earned on short-term investments is recorded in other receivables on the consolidated balance sheet and interest income on the consolidated statement of comprehensive income (loss). Cash inflows and outflows related to the purchase and maturity of short-term investments are classified as investing activities in the Company’s consolidated statements of cash flows.

Derivative liabilities

Derivative liabilitiesFor financial instruments that are not designated as hedging instruments or do not qualify for hedge accounting, changes in fair value are recorded in the consolidated statements of net income (loss) and comprehensive income (loss) each period. The Company does not enter into or hold derivative financial instruments for trading or speculative purposes. Derivative liabilities are initially recognized at fair value at the date on which the derivative contract was entered into. Any attributable transaction costs are recognized in net income (loss) as incurred. Subsequent to initial recognition, derivative liabilities are measured at fair value at each reporting date until settlement with the re-measurement gain or loss being recognized immediately in comprehensive income. For more details on derivative liabilities consisting of the Altria Warrant, Pre-emptive Rights, and certain Top-up Rights, see Note 14.

Fair value measurements

•Level 1 – valuation based on quoted prices (unadjusted) in active markets for identical assets and liabilities.

•Level 2 – valuation techniques based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

•Level 3 – valuation techniques using the inputs for the asset or liability that are not based on observable market data.

The Company’s policy for determining when transfers between levels of the fair value hierarchy occur is based on the date of the event or changes in circumstances that caused the transfer.

Acquisitions

Assets held for sale and discontinued operations

New accounting pronouncements

New Accounting Pronouncements

(a)Adoption of new accounting pronouncements

On January 1, 2020, the Company adopted ASU No. 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) (“ASU No. 2018-13”). ASU No. 2018-13 adds, modifies, and removes certain fair value measurement disclosure requirements. The adoption of ASU No. 2018-13 did not have a material impact on the Company’s consolidated financial statements.

On January 1, 2020, the Company adopted ASU No. 2018-15, Intangibles – Goodwill and Other Internal-use-software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU No. 2018-15”). ASU No. 2018-15 amends current guidance to align the accounting for costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs associated with developing or obtaining internal-use software. The guidance in ASU No. 2018-15 is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted. The adoption of ASU No. 2018-15 did not have a material impact on the Company’s consolidated financial statements.

On January 1, 2020, the Company adopted ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment (“ASU No. 2017-04”). ASU No. 2017-04 eliminates step 2 from the goodwill impairment test and instead requires an entity to measure the impairment of goodwill assigned to a reporting unit if the carrying value of assets and liabilities assigned to the reporting unit, including goodwill, exceeds the reporting unit’s fair value. The guidance in ASU No. 2017-04 is effective for annual and interim goodwill tests completed by the Company beginning on January 1, 2020. The adoption of ASU No. 2017-04 was applied prospectively and the Company follows a one-step model for goodwill impairment.

(b)New accounting pronouncements not yet adopted

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). ASU No. 2019-12 eliminates certain exceptions and simplifies the application of U.S. GAAP-related changes in enacted tax laws or rates and employee stock option plans. ASU No. 2019-12 is effective for annual and interim periods beginning after December 15, 2020. Early adoption is permitted. The Company has evaluated the impact of ASU No. 2019-12 and the adoption will not have a material impact on the Company’s consolidated financial statements.

In January 2020, the Financial Accounting Standards Board issued ASU No. 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) (“ASU No. 2020-01”). ASU No. 2020-01 clarifies the interaction of accounting for the transition into and out of the equity method. The new standard also clarifies the accounting for measuring certain purchased options and forward contracts to acquire investments. The guidance in ASU No. 2020-01 is effective for annual and interim periods beginning after December 15, 2020. The Company has evaluated the impact of ASU No. 2020-01 and does not expect the adoption to have a material impact to the Company’s consolidated financial statements.

In August 2020, the FASB issued ASU 2020-06, Debt –Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging –Contracts in Entity’s Own Equity (Subtopic 815–40) (“ASU No. 2020-06”). ASU No. 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. ASU No 2020-06 is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. ASU No 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company is currently evaluating the impact of ASU No. 2020-06 on its consolidated financial statements and related disclosures.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Consolidated Entities

The Company consolidates the financial results of the following entities, which the Company controls:

Subsidiaries

Jurisdiction of incorporation

Incorporation date

Ownership interest (ii)

Cronos Israel G.S. Cultivation Ltd.(i)

Israel

February 4, 2018

70%

Cronos Israel G.S. Manufacturing Ltd.(i)

Israel

September 4, 2018

90%

Cronos Israel G.S. Store Ltd.(i)

Israel

June 28, 2018

90%

Cronos Israel G.S. Pharmacy Ltd.(i)

Israel

February 15, 2018

90%

(i)These Israeli entities are collectively referred to as “Cronos Israel.”

(ii)“Ownership interest” is defined as the proportionate share of net income to which the Company is entitled; equity interest may differ from ownership interest as described herein.

Schedule of Intangible Assets Amortization Methods and Rates

Intangible assets with finite useful lives are amortized over their estimated useful lives using the following methods and rates:


	Method	Rate
Software	Straight-line	5 years
Enterprise resource planning (“ERP”) software	Straight-line	5 years
Health Canada licenses	Straight-line	Useful life of corresponding facilities
Israeli codes(i)	Straight-line	Useful life of corresponding facilities

Intangible assets are comprised of the following items:


	Weighted average amortization period (in years)	As of December 31, 2020
		Cost		Accumulated amortization		Impairment charges		Net
Software	5	$	610	$	(291)	$	—	$	319
ERP system	5	3,955		(274)		—		3,681
Health Canada licenses	17	7,526		(1,254)		—		6,272
Lord JonesTM brand	N/A	64,000		—		(5,000)		59,000
Trademarks	N/A	148		—		—		148
Israeli codes(i)	25	322		(22)		—		300
		$	76,561	$	(1,841)	$	(5,000)	$	69,720

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.


	Weighted average amortization period (in years)	As of December 31, 2019
		Cost		Accumulated amortization		Net
Software	5	$	541	$	(202)	$	339
Health Canada licenses	17	7,387		(821)		6,566
Lord JonesTM brand	N/A	64,000		—		64,000
Trademarks	N/A	36		—		36
Israeli codes(i)	25	298		(4)		294
		$	72,262	$	(1,027)	$	71,235

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.

Schedule of Property, Plant & Equipment, Useful Lives

Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:

Rate

Building

15 to 25 years

Furniture and equipment

5 to 7 years

Computer equipment

5 years

Leasehold improvements

Lesser of term of lease and useful life

Equipment under finance lease

Lesser of term of lease and useful life

Property, plant and equipment, net consisted of the following:


	As of December 31,
		2020		2019
Cost
Land		$	3,197	$	3,071
Building		158,586		149,690
Furniture and equipment		18,824		10,079
Computer equipment		710		526
Leasehold improvements		3,740		1,758
Construction in progress		20,837		3,569
Less: accumulated depreciation and amortization		(18,295)		(8,745)
Balance as of December 31		$	187,599	$	159,948

Inventory (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory is comprised of the following items:


	As of December 31,
	2020		2019
Raw materials	$	11,489	$	2,469
Work-in-progress – dry cannabis	20,520		11,538
Work-in-progress – cannabis extracts	5,758		17,975
Finished goods – dry cannabis	4,894		1,798
Finished goods – cannabis extracts	1,011		2,624
Supplies and consumables	330		1,639
Total	$	44,002	$	38,043

Investments (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

Equity Method Investments

A reconciliation of the carrying amount of the investments in associates and joint ventures is as follows:


	Ownership interest	Carrying Amount
		December 31, 2020		December 31, 2019
Cronos Australia(i)	31%	$	—	$	(346)
Cronos GrowCo(ii)	50%	19,235		1,501

Natuera	50%	—		(598)
		$	19,235	$	557

The Company’s share of net earnings (losses) from equity investments accounted for under the equity method of accounting as of and for the years ended December 31:


	2020		2019		2018
Whistler Medicinal Marijuana Company (“Whistler”)(i)	$	—	$	29	$	178
Cronos Australia	(363)		(1,101)		(588)
Cronos GrowCo	(1,537)		(167)		(100)
MedMen Canada	—		35		(213)
Natuera(ii)	(2,610)		(805)		—
	$	(4,510)	$	(2,009)	$	(723)

(ii)The Company’s share of accumulated net losses in excess of its equity investment in Natuera has been applied as a loss allowance on the loan receivable. See Note 8.

The following is a summary of financial information for the Company’s equity method investments as of and for the year ended December 31:


	2020		2019		2018
Current assets	$	19,126	$	23,200	$	7,121
Non-current assets	122,099		76,212		27,129
Current liabilities	24,223		52,796		3,746
Non-current liabilities	76,313		33,189		13,201

Revenue	367		52		5,344
Gross profit	(631)		—		—
Net loss	(11,453)		(2,048)		(874)

Schedule of Joint Ventures

Advances to Joint Ventures


	MedMen Canada(i)		Cronos GrowCo(ii)		Cronos Australia(iii)		Natuera		Total
As of January 1, 2020	$	471	$	18,966	$	—	$	—	$	19,437
Transfer to investments in equity accounted investees(ii)	—		(18,505)		—		—		(18,505)
Interest on advances	—		—		37		—		37
Advances to joint ventures recovered from (applied to) carrying amount of investments	—		—		(38)		—		(38)
Effect from foreign exchange	(4)		(461)		1		—		(464)
As of December 31, 2020	$	467	$	—	$	—	$	—	$	467


	MedMen Canada(i)		Cronos GrowCo(ii)		Cronos Australia(iii)		Natuera		Total
As of January 1, 2019	$	1,244	$	2,970	$	475	$	—	$	4,689
Advances (repayments)	(852)		15,494		274		219		15,135
Advances to joint ventures recovered from (applied to) carrying amount of investments	35		22		(779)		(224)		(946)
Effect from foreign exchange	44		480		30		5		559
As of December 31, 2019	$	471	$	18,966	$	—	$	—	$	19,437

(i) Advance is unsecured, non-interest bearing, and there are no terms of repayment.

Schedule of Variable Interest Entities

The following is a summary of the maximum exposure to loss for the year ended December 31, 2020 and 2019:


	Ownership interest	Other Net Assets (Liabilities)		Maximum Exposure to Loss
Cronos Australia	31%	$	8,976	$	1,530
Cronos GrowCo	50%	109,329		21,125
MedMen Canada	50%	—		467
Natuera	50%	(6,849)		8,154
Balance as of December 31, 2020		$	111,456	$	31,276


	Ownership interest	Other Net Assets (Liabilities)		Maximum Exposure to Loss
Cronos Australia	31%	$	10,900	$	1,355
Cronos GrowCo	50%	3,091		20,700
MedMen Canada	50%	(199)		642
Natuera	50%	(358)		4,888
Balance as of December 31, 2019		$	13,434	$	27,585

Investments, Debt and Equity Securities [Abstract]

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Other Investments (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Other Investments

The gains (losses) recognized in net income (loss) related to other investments were as follows:


	Year ended December 31,
	2020		2019		2018
Gain recognized in net income (loss)
Canopy Growth Corporation (“Canopy”)(i)	$	—	$	51	$	166
Vivo Cannabis (“Vivo”) - shares(ii)	—		—		(173)
Vivo Cannabis - share warrants(ii)	—		—		171
Whistler(iii)	—		15,530		—
Aurora Cannabis Inc. (“Aurora”)(iv)	4,789		696		—
	$	4,789	$	16,277	$	164

Loan Receivable (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of Loan Receivable


	As of
		December 31, 2020		December 31, 2019
Current portion
Natuera Series A Loan(i)		$	3,518	$	4,575
GrowCo Credit Facility(ii)		3,137		—
Add: Accrued interest		428		89
Total current portion of loans receivable		7,083		4,664
Long term portion
GrowCo Credit Facility(ii)		69,939		31,678
Mucci Promissory Note(iii)		13,324		12,587
Cannasoul Collaboration loan(iv)		1,261		—
Add: Accrued interest		2,667		702
Total long-term portion of loans receivable		87,191		44,967
Total loans receivable		$	94,274	$	49,631

As of December 31, 2020, a current expected credit loss allowance of $1,470 was recorded against the GrowCo Credit Facility.

As of December 31, 2020, a current expected credit loss allowance of $259 has been recorded against the Mucci Promissory Note.

As of December 31, 2020, a current expected credit loss allowance of $25 has been recorded against the Cannasoul Collaboration loan.

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant & Equipment, Useful Lives

Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:

Rate

Building

15 to 25 years

Furniture and equipment

5 to 7 years

Computer equipment

5 years

Leasehold improvements

Lesser of term of lease and useful life

Equipment under finance lease

Lesser of term of lease and useful life

Property, plant and equipment, net consisted of the following:


	As of December 31,
		2020		2019
Cost
Land		$	3,197	$	3,071
Building		158,586		149,690
Furniture and equipment		18,824		10,079
Computer equipment		710		526
Leasehold improvements		3,740		1,758
Construction in progress		20,837		3,569
Less: accumulated depreciation and amortization		(18,295)		(8,745)
Balance as of December 31		$	187,599	$	159,948

Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Intangible assets with finite useful lives are amortized over their estimated useful lives using the following methods and rates:


	Method	Rate
Software	Straight-line	5 years
Enterprise resource planning (“ERP”) software	Straight-line	5 years
Health Canada licenses	Straight-line	Useful life of corresponding facilities
Israeli codes(i)	Straight-line	Useful life of corresponding facilities

Intangible assets are comprised of the following items:


	Weighted average amortization period (in years)	As of December 31, 2020
		Cost		Accumulated amortization		Impairment charges		Net
Software	5	$	610	$	(291)	$	—	$	319
ERP system	5	3,955		(274)		—		3,681
Health Canada licenses	17	7,526		(1,254)		—		6,272
Lord JonesTM brand	N/A	64,000		—		(5,000)		59,000
Trademarks	N/A	148		—		—		148
Israeli codes(i)	25	322		(22)		—		300
		$	76,561	$	(1,841)	$	(5,000)	$	69,720

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.


	Weighted average amortization period (in years)	As of December 31, 2019
		Cost		Accumulated amortization		Net
Software	5	$	541	$	(202)	$	339
Health Canada licenses	17	7,387		(821)		6,566
Lord JonesTM brand	N/A	64,000		—		64,000
Trademarks	N/A	36		—		36
Israeli codes(i)	25	298		(4)		294
		$	72,262	$	(1,027)	$	71,235

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.

Schedule of Indefinite-Lived Intangible Assets

Intangible assets are comprised of the following items:


	Weighted average amortization period (in years)	As of December 31, 2020
		Cost		Accumulated amortization		Impairment charges		Net
Software	5	$	610	$	(291)	$	—	$	319
ERP system	5	3,955		(274)		—		3,681
Health Canada licenses	17	7,526		(1,254)		—		6,272
Lord JonesTM brand	N/A	64,000		—		(5,000)		59,000
Trademarks	N/A	148		—		—		148
Israeli codes(i)	25	322		(22)		—		300
		$	76,561	$	(1,841)	$	(5,000)	$	69,720

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.


	Weighted average amortization period (in years)	As of December 31, 2019
		Cost		Accumulated amortization		Net
Software	5	$	541	$	(202)	$	339
Health Canada licenses	17	7,387		(821)		6,566
Lord JonesTM brand	N/A	64,000		—		64,000
Trademarks	N/A	36		—		36
Israeli codes(i)	25	298		(4)		294
		$	72,262	$	(1,027)	$	71,235

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above.

Schedule of Goodwill

Goodwill


	As of December 31, 2019		Additions		Impairment charges		Effect of foreign exchange		As of December 31, 2020
Peace Naturals	$	1,078	$	—	$	—	$	30	$	1,108
Redwood	213,414		—		(35,000)		—		178,414
	$	214,492	$	—	$	(35,000)	$	30	$	179,522

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Lease Cost and Other Information


	As of December 31,
	2020			2019
Lease cost
Operating lease cost	$	2,479		$	760
Short-term lease cost	60			373
Total lease cost	$	2,539		$	1,133

Weighted-average remaining lease term – operating leases	6			5
Weighted-average discount rate – operating leases	8.86		%	12.00		%

General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of General and Administrative Expenses

General and administrative expense are comprised of the following items:


	Year ended December 31,
	2020		2019		2018
Salaries and wages	$	26,742	$	17,829	$	4,240
Professional and consulting	15,135		15,369		5,242
Office and general	17,845		13,407		3,713
Review costs related to restatement of 2019 interim financial statements(i)	9,688		—		—
Current expected credit loss	2,512		136		—
Other	8,607		2,530		154
Total	$	80,529	$	49,271	$	13,349

Derivative Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Reconciliation of Carrying Amounts

Reconciliations of the carrying amounts of the derivative liability are presented below:


	As of January 1, 2020		Gain on revaluation		Exercise of Rights		Effect of FX		As of December 31, 2020
(a) Altria Warrant	$	234,428	$	(95,045)	$	—	$	(525)	$	138,858
(b) Pre-emptive Rights	12,787		(885)		—		193		12,095
(c) Top-up Rights	49,945		(33,324)		(3,227)		(937)		12,457
	$	297,160	$	(129,254)	$	(3,227)	$	(1,269)	$	163,410


	As of March 8, 2019		Gain on revaluation		Exercise of Rights		Effect of FX		As of December 31, 2019
(a) Altria Warrant	$	1,086,920	$	(869,630)	$	—	$	17,138	$	234,428
(b) Pre-emptive Rights	92,548		(81,070)		—		1,309		12,787
(c) Top-up Rights	386,152		(326,119)		(15,478)		5,390		49,945
	$	1,565,620	$	(1,276,819)	$	(15,478)	$	23,837	$	297,160

Schedule of Fair Values of Derivative Liabilities

The fair values of the derivative liabilities were determined using the Black-Scholes pricing model as of December 31, 2020 and December 31, 2019, applying the following inputs:


	As of December 31, 2020
	Altria Warrant	Pre-emptive Rights	Top-up Rights
Share price at grant date (per share in C$)	$8.84	$8.84	$8.84
Subscription price (per share in C$)	$19.00	$16.25	$16.25
Weighted average risk-free interest rate(i)	0.21%	0.17%	0.13%
Weight average expected life (in years)(ii)	2.18	1.50	0.98
Expected annualized volatility(iii)	81%	81%	81%
Expected dividend yield	0%	0%	0%


	As of December 31, 2019
	Altria Warrant	Pre-emptive Rights	Top-up Rights
Share price at grant date (per share in C$)	$9.97	$9.97	$9.97
Subscription price (per share in C$)	$19.00	$16.25	$16.25
Weighted average risk-free interest rate(i)	1.69%	1.73%	1.71%
Weight average expected life (in years)(ii)	3.18	1.25	1.66
Expected annualized volatility(iii)	82%	82%	82%
Expected dividend yield	0%	0%	0%

(iii) Volatility was based on the blended historical volatility levels of the Company and peer companies.

Schedule of Sensitivity Analysis


	Decrease as of December 31, 2020
	Altria Warrant		Pre-emptive Rights		Top-up Rights
Share price at issuance date	$	25,819	$	2,527	$	2,989
Weighted average expected life	13,541		1,988		2,121
Expected annualized volatility	26,183		2,269		2,602


	Decrease as of December 31, 2019
	Altria Warrant		Pre-emptive Rights		Top-up Rights
Share price at issuance date	$	36,436	$	2,743	$	9,577
Weighted average expected life	17,471		2,366		2,178
Expected annualized volatility	33,343		2,180		7,714

Capital Stock (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Common Shares Issued

The following is a summary of common shares issued, other than in connection with outstanding options and warrants (see Note 16):


	2020	2019	2018
Altria Investment(i)	—	149,831,154	—
Redwood Acquisition(ii)	—	5,086,586	—
Private placement(iii)	—	856,017	—
Bought deal offering(iv)	—	—	15,677,143
	—	155,773,757	15,677,143

(iv)During the year ended December 31, 2018, the Company issued 15,677,143 common shares for aggregate gross proceeds of $115,510 through bought deal offerings, net of issuance costs of $7,577.

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21488-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

Share-based Payment Arrangement [Abstract]

Share-based Payments (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Changes in Warrants and DSUs

The following is a summary of the changes in warrants during the year ended December 31, 2020 and December 31, 2019:


	Weighted average exercise price (C$)		Number of warrants
Balance as of January 1, 2020	$	0.26	18,066,662
Exercise of warrants	0.27		(10,079,313)
Balance as of December 31, 2020	$	0.25	7,987,349


	Weighted average exercise price (C$)		Number of warrants
Balance as of January 1, 2019	$	0.26	25,457,623
Exercise of warrants	0.26		(7,390,961)

Balance as of December 31, 2019	$	0.26	18,066,662

The following is a summary of the changes in DSUs:


	Number of DSUs	Financial liability
Balance at January 1, 2020	33,397	$	255
Granting and vesting of DSUs	58,380	338
Liabilities settled	(8,484)	(46)
Loss (gain) on revaluation	—	30
Balance at December 31, 2020	83,293	$	577


	Number of DSUs	Financial liability
Balance at January 1, 2019	—	$	—
Granting and vesting of DSUs	33,397	452
Loss (gain) on revaluation	—	(197)
Balance at December 31, 2019	33,397	$	255

Summary of Outstanding Warrants

As of December 31, 2020, the Company had outstanding warrants as follows:


Grant date	Expiry date	Weighted average exercise price (C$)		Number of warrants
May 13 – 27, 2016	May 13 – 27, 2021	$	0.25	7,987,349
As of December 31, 2020		$	0.25	7,987,349

Summary of Outstanding Options

The equity plans described above have the following stock options outstanding:


	Shares outstanding as of December 31,
	2020	2019	2018
2020 Omnibus Plan	2,000,000	—	—
2018 Stock Option Plan	1,627,715	1,817,287	285,000
2015 Stock Option Plan	10,127,433	12,332,215	12,617,995
Total stock options outstanding	13,755,148	14,149,502	12,902,995

Summary of the Changes in Options

The following is a summary of the changes in options during the year ended December 31, 2020 and December 31, 2019:


	Weighted average exercise price (C$)		Number of options	Weighted average remaining contractual term (years)
Balance as of January 1, 2020	$	4.84	14,149,502	2.56
Issuance of options(i)	6.96		2,000,000
Exercise of options	2.03		(2,131,939)
Cancellation, forfeiture and expiry of options	14.34		(262,415)
Balance as of December 31, 2020	$	5.40	13,755,148	2.30
Exercisable at December 31, 2020	$	3.75	9,643,682	1.34


	Weighted average exercise price (C$)		Number of options	Weighted average remaining contractual term (years)
Balance as of January 1, 2019	$	2.99	12,902,995	3.35
Issuance of options	20.08		1,534,162
Exercise of options	3.48		(282,572)
Cancellation, forfeiture and expiry of options	2.27		(5,083)
Balance as of December 31, 2019	$	4.84	14,149,502	2.56
Exercisable at December 31, 2019	$	2.93	9,034,714	2.27

Fair Value of Options Issued

The fair value of the options issued during the year was determined using the Black-Scholes option pricing model, using the following inputs:


	2020	2019
Share price at grant date (per share)	C$6.96	C$15.34 – $24.75
Exercise price (per option)(i)	C$6.96	C$15.34 – $24.75
Risk-free interest rate	0.43%	1.39% – 1.62%
Expected life of options (in years)(ii)	5	5
Expected annualized volatility	91%	82%
Expected dividend yield	—	—
Weighted average Black-Scholes value at grant date (per option)	C$4.84	C$13.03
Forfeiture rate	—	—

Summary of Restricted Share Units Activity

The following is a summary of the changes in RSUs:


	Number of RSUs	Weighted average grant date fair value (C$)
Balance at January 1, 2020	732,972	$	15.34
Granted	957,854	7.66
Exercised	(732,972)	15.34
Cancellation and forfeitures	(9,497)	7.52
Balance at December 31, 2020	948,357	$	7.66


	Number of RSUs	Weighted average grant date fair value (C$)
Balance at January 1, 2019	—	$	—
Granted	732,972	15.34
Balance at December 31, 2019	732,972	$	15.34

Earnings (loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) Per Share

Basic and diluted earnings (loss) per share from continuing operations are calculated using the following numerators and denominators:


	2020		2019		2018
Basic earnings (loss) per share computation
Income (loss) from continuing operations attributable to common shareholders of Cronos Group	$	(72,487)	$	1,166,869	$	(20,742)
Weighted average number of common shares outstanding	351,576,848		310,067,179		172,269,170
Basic earnings (loss) per share	$	(0.21)	$	3.76	$	(0.12)
Diluted earnings (loss) per share computation
Income (loss) from continuing operations used in the computation of basic earnings (loss) per share	$	(72,487)	$	1,166,869	$	(20,742)
Adjustment for gain on revaluation of derivative liabilities	—		(24,416)		—
Income (loss) from continuing operations used in the computation of diluted income (loss) per share	(72,487)		1,142,453		(20,742)

Weighted average number of common shares outstanding used in the computation of basic earnings (loss) per share	351,576,848		310,067,179		172,269,170
Dilutive effect of warrants	—		19,481,352		—
Dilutive effect of stock options	—		10,649,487		—
Dilutive effect of restricted share units	—		732,972		—
Dilutive effect of Altria Warrant	—		—		—
Dilutive effect of Top-up Rights – exercised and exercisable fixed price	—		1,881,002		—
Weighted average number of common shares for computation of diluted income (loss) per share	351,576,848		342,811,992		172,269,170
Diluted earnings (loss) per share(i)	$	(0.21)	$	3.33	$	(0.12)

Basic and diluted loss per share from discontinued operations are calculated using the following numerators and denominators:


	2020		2019		2018
Basic loss from discontinued operations per share computation
Loss from discontinued operations attributable to common shareholders of Cronos Group	$	(650)	$	(363)	$	(894)
Weighted average number of common shares outstanding	351,576,848		310,067,179		172,269,170
Basic loss from discontinued operations per share(i)	$	0.00	$	0.00	$	(0.01)

Schedule of Antidilutive Securities Excluded from Computation of Diluted Shares Outstanding


	2020	2019	2018
Ginkgo Equity Milestones	14,674,904	14,674,904	—
Pre-emptive Rights	11,534,475	12,006,740	—
Top-up Rights – fixed price	17,214,621	25,103,456	—
Top-up Rights – market price	3,413,065	1,255,223	—
Altria Warrant	80,056,296	77,514,993	—
Warrants	15,147,116	—	25,457,623
Stock options	9,218,674	1,315,787	12,902,995
Restricted share units	79,611	—	—
Total anti-dilutive securities	151,338,762	131,871,103	38,360,618

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Accumulated Other Comprehensive Income (Loss)

The following is a continuity schedule of accumulated other comprehensive income (loss):


	2020		2019		2018
Net unrealized gain (loss) on revaluation and disposal of other investments
Balance at January 1	$	5	$	5	$	446
Cumulative effect from adoption of ASU 2016-01	—		—		(444)
Net unrealized (loss) gain	—		—		3

Balance at December 31	5		5		5

Net foreign exchange gain (loss) on translation of foreign operations
Balance at January 1	27,833		(9,875)		2,456
Net unrealized (loss) gain	15,161		37,708		(12,331)
Balance at December 31	42,994		27,833		(9,875)
Total other comprehensive income (loss)	$	42,999	$	27,838	$	(9,870)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) before Income Taxes

For financial reporting purposes, income (loss) from continuing operations before income taxes includes the following components:


	Year ended December 31,
	2020		2019		2018
Rest of World	$	12,679	$	1,169,007	$	(20,923)
United States	(85,952)		(3,070)		—
Total	$	(73,273)	$	1,165,937	$	(20,923)

Schedule of Expense for Income Taxes

Income tax expense consists of the following components:


	Year ended December 31,
	2020		2019		2018
Current:
Rest of World	$	1,024	$	—	$	—
United States	323		—		—
Total	$	1,347	$	—	$	—
Deferred:
Rest of world	$	—	$	—	$	—
United States	—		—		—
Total	$	—	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of the expected income tax to the effective tax rate in continuing operations is as follows:


	Year ended,
	2020			2019			2018
Income (loss) before income taxes	$	(73,273)		$	1,165,937		$	(20,923)
Effective income tax rate	26.5		%	26.5		%	26.5		%
Expected income tax expense (benefit)	$	(19,417)		$	308,973		$	(5,545)

Non-taxable income	(711)			(2,156)			14
Non-deductible share-based compensation	2,498			2,839			2,466
Non-deductible expenses	1,364			764			—
Non-deductible transaction costs	3,146			1,523			—
Effect of provincial tax rate difference	(15)			(44)			(64)
Effect of tax rates outside of Canada	(362)			70			—
Fair value gain on financial liabilities	(34,250)			(338,409)			—
Changes in valuation allowance	48,227			25,808			3,437
Other	867			632			(308)
Income tax expense (recovery), net	$	1,347		$	—		$	—

Schedule of Deferred Tax Assets and Liabilities

The following table summarizes the significant components of the Company’s deferred tax assets and liabilities as of December 31, 2020 and December 31, 2019:


	As of
	2020		2019
Deferred assets:
Tax loss carryforwards	$	67,476	$	30,908
Interest expense carryforwards	1,407		—
Deferred financing costs	4,233		5,690
Share issuance cost	1,573		2,217
Finance lease obligation	1,953		1,491
Plant and equipment	5,945		871
Investment	307		395
Intangible asset	4,218		—
Reserve	1,858		—
Other	570		482
Total deferred tax assets	89,540		42,054
Less valuation allowance	(85,935)		(36,948)
Net deferred tax assets	3,605		5,106

Deferred tax liabilities:
Inventory	—		(1,227)
Plant and equipment	—		—
Intangible assets	—		(2,126)
Investment	—		—
License	(1,662)		(293)
Right-of-use assets	(1,943)		(1,460)
Total deferred tax liabilities	(3,605)		(5,106)
Net deferred tax liability	$	—	$	—

Summary of Income Tax Examinations


Jurisdiction						Open Years
Canada						2016 – 2020
United States						2018 – 2020
Israel						2019 – 2020

Summary of Valuation Allowance

The following table outlines the movements in the valuation allowance:


	Balance at beginning of year		Change due to foreign exchange		Increase		Balance at end of year
Year ended December 31, 2020	$	(36,948)	$	(693)	$	(48,294)	$	(85,935)
Year ended December 31, 2019	(7,931)		(998)		(28,019)		(36,948)

Commitments (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of Future Minimum Lease Payments Under Operating Leases

The following is a summary of the Company’s future minimum lease payments under operating leases for its premises due in future fiscal years:


	As of December 31,
	2020
2021	$	2,381
2022	2,302
2023	2,201
2024	1,711
2025	1,505
2026 and thereafter	1,916

Supplementary Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Schedule of Net Changes in Non-Cash Working Capital

The net changes in non-cash working capital items are as follow:


	Year ended December 31,
	2020		2019		2018
Accounts receivable	$	(4,724)	$	(702)	$	(2,569)
Prepaids and other receivables	(5,300)		(10,509)		(2,382)
Current portion of loans receivable	—		(4,585)		—
Inventory	(28,094)		(51,888)		(4,092)
Accounts payable and other liabilities	4,175		13,476		12,705
Total	$	(33,943)	$	(54,208)	$	3,662

Fair Value Measures and Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	As of December 31, 2020
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	1,078,023	$	—	$	—	$	1,078,023
Short-term investments	211,766		—		—		211,766
Derivative liabilities	—		—		163,410		163,410


	As of December 31, 2019
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	1,199,693	$	—	$	—	$	1,199,693
Short-term investments	306,347		—		—		306,347
Derivative liabilities	—		—		297,160		297,160

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Related Party Transactions

The Company incurred the following expenses for consulting services from Altria Pinnacle LLC, a subsidiary of Altria (“Altria Pinnacle”):


	Year ended December 31,
	2020		2019
Altria Pinnacle – expense	$	1,199	$	3,479
Total	$	1,199	$	3,479

No expenses for consulting services from Altria Pinnacle during the year ended December 31, 2018.

The following is a summary of amounts payable related to the consulting services with Altria Pinnacle:


	As of December 31,
	2020		2019
Altria Pinnacle – payable	$	—	$	1,152
Total	$	—	$	1,152

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Fair Value of Net Assets Acquired

The following table summarizes the Company’s finalized allocation of the purchase price to assets acquired and liabilities assumed at the acquisition date.


	September 5, 2019
Fair value of net assets acquired
Cash	$	2,896
Accounts receivable (i)		647
Prepaid expenses and other assets		265
Inventory		2,806
Property and equipment		1,890
Right-of-use assets		3,533
Intangible assets (ii)		64,037
Goodwill		213,414
Accounts payable and accrued liabilities		(2,688)
Lease obligations		(3,500)
	$	283,300

(i) The fair value of acquired accounts receivable is $647. No loss allowance was recognized on acquisition.

(ii) Intangible assets include the fair value of brand name of $64,000, the remaining balance relates to software.

Repurposing Charges (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Schedule of Plan Information and Restructuring-Related Costs

The following table presents information associated with this plan:


	Year ended December 31, 2019
Employee termination benefits	$	889
Impairment costs associated with plan	4,439
	$	5,328

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Data and Adjusted EBITDA

Segment data was as follows for the year ended December 31, 2020:


	United States		Rest of World		Corporate		Total
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue
Cannabis flower	$	—	$	27,932	$	—	$	27,932
Cannabis extracts	9,495		8,759		—		18,254
Other	—		533		—		533
Net revenue	9,495		37,224		—		46,719

Share of loss from equity accounted investees	—		(4,510)		—		(4,510)

Interest revenue	16		18,585		—		18,601
Interest expense	(34)		(152)		—		(186)
Interest income (expense), net	(18)		18,433		—		18,415

Depreciation and amortization	234		2,638		—		2,872
Income tax expense	323		1,024		—		1,347
Loss from discontinued operations	—		(650)		—		(650)
Adjusted EBITDA	(28,019)		(98,349)		(20,885)		(147,253)

Consolidated balance sheets
Total assets	253,745		388,351		1,283,586		1,925,682
Investments in equity accounted investees	—		19,235		—		19,235
Goodwill	178,414		1,108		—		179,522
Purchase of property, plant and equipment	385		31,027		—		31,412

Segment data was as follows for the year ended December 31, 2019:


	United States		Rest of World		Corporate		Total
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue
Cannabis flower	$	—	$	15,020	$	—	$	15,020
Cannabis extracts	3,364		5,338		—		8,702
Other	—		28		—		28
Net revenue	3,364		20,386		—		23,750

Share of loss from equity accounted investees	—		(2,009)		—		(2,009)

Interest revenue	6		29,207		—		29,213
Interest expense	—		(1,244)		—		(1,244)
Interest income, net	6		27,963		—		27,969

Depreciation and amortization	46		2,044		—		2,090
Income tax expense	—		—		—		—
Loss from discontinued operations	—		(363)		—		(363)
Adjusted EBITDA	(1,703)		(84,826)		(11,779)		(98,308)

Consolidated balance sheets
Total assets	293,985		309,854		1,486,603		2,090,442
Investments in equity accounted investees	—		557		—		557
Goodwill	213,414		1,078		—		214,492
Purchase of property, plant and equipment	259		38,405		—		38,664

Segment data was as follows for the year ended December 31, 2018:


	United States		Rest of World		Corporate		Total
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue
Cannabis flower	$	—	$	9,210	$	—	$	9,210
Cannabis extracts	—		2,732		—		2,732
Other	—		179		—		179
Net revenue	—		12,121		—		12,121

Share of loss from equity accounted investees	—		(723)		—		(723)
Interest revenue	—		220		—		220
Interest expense	—		(139)		—		(139)
Interest income, net	—		81		—		81

Depreciation and amortization	—		807		—		807
Income tax expense	—		—		—		—
Loss from discontinued operations	—		(894)		—		(894)
Adjusted EBITDA	—		(10,357)		—		(10,357)

Consolidated balance sheets
Total assets	—		183,471		—		183,471
Investments in equity accounted investees	—		2,960		—		2,960
Goodwill	—		1,314		—		1,314
Purchase of property, plant and equipment	—		88,308		—		88,308

Adjusted EBITDA is reconciled to net income (loss) as follows for the years ended December 31, 2020, 2019 and 2018:


(in thousands of U.S. dollars)	Year ended December 31, 2020
	US		ROW		Corporate Expenses		Total
Net income (loss)	$	(77,368)	$	32,671	$	(30,573)	$	(75,270)
Adjustments
Interest expense (income), net	18		(18,433)		—		(18,415)
Income tax expense	323		1,024		—		1,347
Impairment loss on goodwill and intangible assets	40,000		—		—		40,000

Financing and transaction costs	40		—		—		40
Gain on revaluation of derivative liabilities	—		(129,254)		—		(129,254)
Gain on disposal of other investments	—		(4,789)		—		(4,789)
Share of loss from equity accounted investees	—		4,510		—		4,510
Loss from discontinued operations	—		650		—		650

Other loss (income)	20		1,814		—		1,834
Review costs related to restatement of 2019 interim financial statements	—		—		9,688		9,688
Share-based payments	8,714		6,647		—		15,361
Adjusted EBIT	(28,253)		(105,160)		(20,885)		(154,298)
Adjustments
Depreciation and amortization	234		6,811		—		7,045
Adjusted EBITDA	(28,019)		(98,349)		(20,885)		(147,253)


(in thousands of U.S. dollars)	Year ended December 31, 2019
	US		ROW		Corporate Expenses		Total
Net income (loss)	$	(3,070)	$	1,180,241	$	(11,597)	$	1,165,574
Adjustments
Interest income, net	(6)		(27,963)		—		(27,969)

Impairment loss on goodwill and intangible assets	—		—		—		—
Repurposing charges	—		7,268		—		7,268
Financing and transaction costs	117		32,091		—		32,208
Gain on revaluation of derivative liabilities	—		(1,276,819)		—		(1,276,819)
Gain on disposal of other investments	—		(16,277)		—		(16,277)
Share of loss from equity accounted investees	—		2,009		—		2,009


Loss from discontinued operations	—		363		—		363

Other loss (income)	182		(197)		(182)		(197)
Share-based payments	900		10,719		—		11,619
Adjusted EBIT	(1,877)		(88,565)		(11,779)		(102,221)
Adjustments
Depreciation and amortization	174		3,739		—		3,913
Adjusted EBITDA	$	(1,703)	$	(84,826)	$	(11,779)	$	(98,308)


(in thousands of U.S. dollars)	Year ended December 31, 2018

Net income (loss)		$	(21,817)
Adjustments
Interest income, net		(81)






Loss (gain) on disposal of other investments		(164)
Share of loss (income) from equity accounted investees		723


Loss from discontinued operations		894


Share-based payments		8,151

Adjusted EBIT		(12,294)
Adjustments
Depreciation and amortization		1,937
Adjusted EBITDA		$	(10,357)

Sources of net revenue were as follows:


	Year ended December 31,
	2020		2019
Cannabis flower	$	27,932	$	15,020
Cannabis extracts	18,254		8,702
Other	533		28
Net revenue	$	46,719	$	23,750

Schedule of Revenue from External Customers by Geographic Areas

Net revenue attributed to a geographic region based on the location of the customer were as follows:


	Year ended December 31,
	2020		2019
Canada	$	34,538	$	20,202
United States	9,495		3,364
Other countries	2,686		184
Total	$	46,719	$	23,750

Schedule of Long-lived Assets by Geographic Areas

Property, plant and equipment assets were physically located in the following geographic regions:


	As of December 31,
	2020		2019
Canada	$	162,163	$	139,160
United States	2,293		2,103
Other countries	23,143		18,685
Total	$	187,599	$	159,948

Discontinued Operations and Held-for-sale Assets (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Summary of Discontinued Operations

The following table summarizes the financial information for discontinued operations as of December 31, 2020:


	Year ended December 31,
	2020		2019		2018
Consolidated statements of net income (loss) and comprehensive income (loss)
OGBC income (loss) from discontinued operations, net of income taxes	$	(650)	$	(363)	$	(894)


	As of December 31,
	2020		2019
Consolidated balance sheets
Long-term assets classified as discontinued operations	$	1,176	$	3,248


	As of December 31, 2019
	As previously disclosed		Held-for-sale adjustment		Adjusted balance
Property, plant and equipment	$	161,809	$	(1,861)	$	159,948
Intangible assets	72,320		(1,085)		71,235
Goodwill	214,794		(302)		214,492


	Year ended December 31, 2019
	As previously disclosed		Held-for-sale adjustment		Adjusted balance
Inventory write-down	$	(29,440)	$	267	$	(29,173)
Operating expenses	(103,620)		109		(103,511)
Other income (loss)	1,287,058		(13)		1,287,045
Net income (loss) from continuing operations	1,165,574		363		1,165,937


	Year ended December 31, 2018
	As previously disclosed		Held-for-sale adjustment		Adjusted balance
Operating expenses	$	(27,554)	$	896	$	(26,658)
Other income (loss)	(476)		(2)		(478)
Net income (loss) from continuing operations	(21,817)		894		(20,923)

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Revenue from Contract with Customer [Abstract]

Background (Details)	Dec. 31, 2020 continent brand venture
Schedule of Equity Method Investments [Line Items]
Number of continents with international production and distribution \| continent	5
Number of adult-use brands	2
Number of hemp-derived cannabidiol personal care brands	3
Number of strategic joint ventures \| venture	4
Cronos Australia
Schedule of Equity Method Investments [Line Items]
Ownership interest	31.00%

Summary of Significant Accounting Policies - Schedule of Consolidated Entities (Details)	12 Months Ended
	Dec. 31, 2020
Cronos Israel G.S. Cultivations Ltd.
Subsidiary or Equity Method Investee [Line Items]
Ownership Interest	70.00%
Cronos Israel G.S. Manufacturing Ltd.
Subsidiary or Equity Method Investee [Line Items]
Ownership Interest	90.00%
Cronos Israel G.S. Store Ltd.
Subsidiary or Equity Method Investee [Line Items]
Ownership Interest	90.00%
Cronos Israel G.S. Pharmacies Ltd.
Subsidiary or Equity Method Investee [Line Items]
Ownership Interest	90.00%

Summary of Significant Accounting Policies - Schedule of Intangible Assets Amortization Methods and Rates (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	5 years	5 years
Enterprise resource planning (“ERP”) software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life	5 years

Summary of Significant Accounting Policies - Schedule of Property, Plant & Equipment, Useful Lives (Details)	12 Months Ended
	Dec. 31, 2020
Building \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant & equipment, useful life	15 years
Building \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant & equipment, useful life	25 years
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant & equipment, useful life	5 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant & equipment, useful life	7 years
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant & equipment, useful life	5 years

Summary of Significant Accounting Policies - Impairment of Long-lived Assets (Details)	12 Months Ended
	Dec. 31, 2020 reportingUnit
Accounting Policies [Abstract]
Number of reporting units	2

Revenues from Contracts with Customers - Narrative (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Accounts receivable

^[1]

$ 8,928

$ 4,638

Allowance for credit loss

$ 74

$ 136

[1]	Net of current expected credit loss allowance of $74 as of December 31, 2020 (December 31, 2019 – $136)

Inventory (Details) - USD ($)	12 Months Ended
Inventory (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Raw materials	$ 11,489,000	$ 2,469,000
Supplies and consumables	330,000	1,639,000
Total	44,002,000	38,043,000
Inventory write-down	26,055,000	29,173,000	$ 0
Inventory valuation reserves	1,229,000	0
Dry Cannabis
Inventory [Line Items]
Work-in-progress	20,520,000	11,538,000
Finished goods	4,894,000	1,798,000
Cannabis Extracts
Inventory [Line Items]
Work-in-progress	5,758,000	17,975,000
Finished goods	$ 1,011,000	$ 2,624,000

Investments - Narrative (Details) ₪ in Thousands, $ in Thousands						12 Months Ended
	Apr. 01, 2020 USD ($)	Nov. 07, 2019	Nov. 06, 2019	Jun. 14, 2018	Mar. 13, 2018	Dec. 31, 2020	Dec. 31, 2019	Apr. 01, 2020 ILS (₪)
Cronos GrowCo \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage				50.00%		50.00%	50.00%
MedMen Canada \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage					50.00%	50.00%	50.00%
MedMen Canada \| Minimum \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
License term					20 years
Natuera \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage						50.00%	50.00%
Cannasoul Analytics Ltd. \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Collaborative arrangement, percentage of profits to be received						70.00%
Collaborative arrangement, profits to be received, maximum percentage of amounts advanced						150.00%
Collaborative arrangement, percentage of profits to be received, triggering event, subsequent to maximum percentage of amounts advanced being met						50.00%
Cannasoul Analytics Ltd. \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement \| Cannasoul Collaboration Loan \| Loans Receivable
Variable Interest Entity [Line Items]
Collaborative arrangement, term of agreement	2 years
Cannasoul Analytics Ltd. \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement \| Cannasoul Collaboration Loan \| Variable Interest Entity, Not Primary Beneficiary \| Loans Receivable
Variable Interest Entity [Line Items]
Collaboration agreement, amount of advances	$ 2,574							₪ 8,297
Collaborative arrangement, term of agreement						2 years
Interest rate	3.50%					3.50%		3.50%
Cronos Australia
Variable Interest Entity [Line Items]
Interest rate						12.00%
Cronos Australia \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage		31.00%	50.00%			31.00%	31.00%

Investments - Schedule of Equity Method Investments (Details) $ in Thousands, $ in Thousands								12 Months Ended
	Sep. 25, 2020 USD ($)	Sep. 25, 2020 CAD ($)	Nov. 07, 2019	Nov. 06, 2019	Oct. 25, 2019 $ / shares shares	Jun. 14, 2018	Mar. 13, 2018	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CAD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Schedule of Equity Method Investments [Line Items]
Investments in equity accounted investees								$ 19,235		$ 557	$ 2,960
Advances to affiliates										15,135
Transfer to investments in equity accounted investees								18,505
Share of loss from investments in equity accounted investees								(4,510)		(2,009)	(723)
Equity Method Investment, Summarized Financial Information [Abstract]
Current assets								1,372,172		1,573,260
Current liabilities								206,834		332,888
Income Statement [Abstract]
Revenue								46,719		23,750	12,121
Gross profit								(25,833)		(17,597)	6,213
Net loss								(75,270)		1,165,574	(21,817)
Equity Method Investments
Equity Method Investment, Summarized Financial Information [Abstract]
Current assets								19,126		23,200	7,121
Non-current assets								122,099		76,212	27,129
Current liabilities								24,223		52,796	3,746
Non-current liabilities								76,313		33,189	13,201
Income Statement [Abstract]
Revenue								367		52	5,344
Gross profit								(631)		0	0
Net loss								$ (11,453)		(2,048)	(874)
IPO \| Cronos Australia
Schedule of Equity Method Investments [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares					40,000,000
Sale of stock, price per share (in aud per share) \| $ / shares					$ 0.50
Cronos Australia
Schedule of Equity Method Investments [Line Items]
Ownership interest								31.00%
Investments in equity accounted investees								$ 0		(346)
Advances to affiliates										274
Transfer to investments in equity accounted investees								0
Share of loss from investments in equity accounted investees								$ (363)		$ (1,101)	(588)
Cronos Australia \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership percentage			31.00%	50.00%				31.00%	31.00%	31.00%
Cronos GrowCo
Schedule of Equity Method Investments [Line Items]
Ownership interest								50.00%
Investments in equity accounted investees								$ 19,235		$ 1,501
Advances to affiliates	$ 37,010	$ 49,300								15,494
Transfer to investments in equity accounted investees	$ 18,505	$ 24,650						18,505	$ 24,650
Share of loss from investments in equity accounted investees								$ (1,537)		$ (167)	(100)
Cronos GrowCo \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership percentage						50.00%		50.00%	50.00%	50.00%
Cronos GrowCo \| Cronos Group, Inc.
Schedule of Equity Method Investments [Line Items]
Funding commitment percentage	0.50	0.50
Cronos GrowCo \| Mucci
Schedule of Equity Method Investments [Line Items]
Advances to affiliates	$ 18,505	$ 24,650
Funding commitment percentage	0.50	0.50
Natuera
Schedule of Equity Method Investments [Line Items]
Ownership interest								50.00%
Investments in equity accounted investees								$ 0		$ (598)
Advances to affiliates										219
Transfer to investments in equity accounted investees								0
Share of loss from investments in equity accounted investees								$ (2,610)		$ (805)	0
Natuera \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership percentage								50.00%	50.00%	50.00%
Whistler
Schedule of Equity Method Investments [Line Items]
Share of loss from investments in equity accounted investees								$ 0		$ 29	178
MedMen Canada
Schedule of Equity Method Investments [Line Items]
Advances to affiliates										(852)
Transfer to investments in equity accounted investees								0
Share of loss from investments in equity accounted investees								$ 0		$ 35	$ (213)
MedMen Canada \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership percentage							50.00%	50.00%	50.00%	50.00%

Investments - Schedule of Advances to Joint Ventures (Details) $ in Thousands, $ in Thousands			12 Months Ended
	Sep. 25, 2020 USD ($)	Sep. 25, 2020 CAD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CAD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 AUD ($)
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Balance at beginning of period			$ 19,437		$ 4,689
Transfer to investments in equity accounted investees			(18,505)
Interest on advances			37
Advances (repayments)					15,135
Advances to joint ventures recovered from (applied to) carrying amount of investments			(38)		(946)
Effect from foreign exchange			(464)		559
Balance at end of period			467		19,437
MedMen Canada
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Balance at beginning of period			471		1,244
Transfer to investments in equity accounted investees			0
Interest on advances			0
Advances (repayments)					(852)
Advances to joint ventures recovered from (applied to) carrying amount of investments			0		35
Effect from foreign exchange			(4)		44
Balance at end of period			467		471
Cronos GrowCo
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Balance at beginning of period			18,966		2,970
Transfer to investments in equity accounted investees	$ (18,505)	$ (24,650)	(18,505)	$ (24,650)
Interest on advances			0
Advances (repayments)	$ 37,010	$ 49,300			15,494
Advances to joint ventures recovered from (applied to) carrying amount of investments			0		22
Effect from foreign exchange			(461)		480
Balance at end of period			0		18,966
Cronos Australia
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Balance at beginning of period			0		475
Transfer to investments in equity accounted investees			0
Interest on advances			37
Advances (repayments)					274
Advances to joint ventures recovered from (applied to) carrying amount of investments			(38)		(779)
Effect from foreign exchange			1		30
Balance at end of period			0		0
Face amount						$ 1,500,000
Interest rate						12.00%
Additional interest rate if past due						2.00%
Natuera
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Balance at beginning of period			0		0
Transfer to investments in equity accounted investees			0
Interest on advances			0
Advances (repayments)					219
Advances to joint ventures recovered from (applied to) carrying amount of investments			0		(224)
Effect from foreign exchange			0		5
Balance at end of period			$ 0		$ 0

Investments - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands					12 Months Ended
	Nov. 07, 2019	Nov. 06, 2019	Jun. 14, 2018	Mar. 13, 2018	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Other Net Assets (Liabilities)					$ 111,456	$ 13,434
Maximum Exposure to Loss					$ 31,276	$ 27,585
Cronos Australia \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership interest	31.00%	50.00%			31.00%	31.00%
Other Net Assets (Liabilities)					$ 8,976	$ 10,900
Maximum Exposure to Loss					$ 1,530	$ 1,355
Cronos GrowCo \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership interest			50.00%		50.00%	50.00%
Other Net Assets (Liabilities)					$ 109,329	$ 3,091
Maximum Exposure to Loss					$ 21,125	$ 20,700
MedMen Canada \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership interest				50.00%	50.00%	50.00%
Other Net Assets (Liabilities)					$ 0	$ (199)
Maximum Exposure to Loss					$ 467	$ 642
Natuera \| Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership interest					50.00%	50.00%
Other Net Assets (Liabilities)					$ (6,849)	$ (358)
Maximum Exposure to Loss					$ 8,154	$ 4,888

Other Investments - Summary of Other Investments (Details) - Equity Securities $ in Thousands, $ in Thousands		12 Months Ended
	Mar. 04, 2019 shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2020 CAD ($) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares
Debt and Equity Securities, FV-NI [Line Items]
Gain recognized in net income (loss)		$ 4,789		$ 16,277	$ 164
Canopy
Debt and Equity Securities, FV-NI [Line Items]
Gain recognized in net income (loss)		0		$ 51	$ 166
Investment owned, number of shares sold (in shares) \| shares				11,062	18,436
Proceeds from sale of equity securities, FV-NI				$ 355	$ 530
Vivo Cannabis
Debt and Equity Securities, FV-NI [Line Items]
Gain recognized in net income (loss)		0		0	$ (173)
Investment owned, number of shares sold (in shares) \| shares					182,927
Proceeds from sale of equity securities, FV-NI					$ 216
Number of securities called by warrants or rights (in shares) \| shares					182,927
Proceeds from exercise of warrants					$ 87
Vivo Cannabis \| Warrants
Debt and Equity Securities, FV-NI [Line Items]
Gain recognized in net income (loss)		0		0	171
Whistler
Debt and Equity Securities, FV-NI [Line Items]
Gain recognized in net income (loss)		$ 0		15,530	0
Investment owned, number of shares sold (in shares) \| shares	2,563	980,662	980,662
Investment owned, shares sold, percentage of shares issued and outstanding	19.00%
Shares received (in shares) \| shares		980,662	980,662
Aurora
Debt and Equity Securities, FV-NI [Line Items]
Gain recognized in net income (loss)		$ 4,789	$ 6,404	$ 696	$ 0
Investment owned, number of shares sold (in shares) \| shares				2,524,341
Proceeds from sale of equity securities, FV-NI				$ 19,259
Shares received (in shares) \| shares	2,524,341

Loan Receivable - Schedule of Loan Receivable (Details) ₪ in Thousands			12 Months Ended
	Apr. 01, 2020 USD ($)	Jun. 28, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CAD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 ILS (₪)	Jul. 24, 2020 USD ($)	Apr. 01, 2020 ILS (₪)	Aug. 23, 2019 USD ($)	Aug. 23, 2019 CAD ($)	Jun. 28, 2019 CAD ($)
Current portion
Total current portion of loans receivable			$ 7,083,000		$ 4,664,000
Long term portion
Total long-term portion of loans receivable			87,191,000		44,967,000
Draw downs			44,652,000		43,337,000	$ 0
Current expected credit loss			$ 74,000		136,000
Mucci \| Cronos GrowCo
Long term portion
Ownership interest			50.00%				50.00%
Loans Receivable
Current portion
Add: Accrued interest			$ 428,000		89,000
Total current portion of loans receivable			7,083,000		4,664,000
Long term portion
Add: Accrued interest			2,667,000		702,000
Total long-term portion of loans receivable			87,191,000		44,967,000
Total loans receivable			94,274,000		49,631,000
NatuEra Series A Loan \| Loans Receivable
Current portion
Current portion of loans receivable, before accrued interest			3,518,000		4,575,000
Long term portion
Additional principal amount								$ 6,350,000
Total aggregate principal amount								$ 15,500,000
Funding commitment percentage								50.00%
Stated interest rate								5.67%
Allowance for credit loss			685,000
NatuEra Series A Loan \| Loans Receivable \| Natuera
Long term portion
Funding commitment percentage								50.00%
NatuEra Series A Loan - Share of Net Loss in Excess of Carrying Value of Equity Investment \| Loans Receivable
Long term portion
Allowance for credit loss			3,024,000
Cronos GrowCo Credit Facility \| Loans Receivable
Current portion
Current portion of loans receivable, before accrued interest			3,137,000		0
Long term portion
Long term portion of loans receivable, before accrued interest			69,939,000		31,678,000
Allowance for credit loss			1,470,000
Face amount										$ 78,430,000	$ 100,000,000
Draw downs			74,626,000	$ 95,150,000
2645485 Ontario Inc. Mucci Promissory Note \| Loans Receivable
Long term portion
Long term portion of loans receivable, before accrued interest			13,324,000		12,587,000
Stated interest rate		3.95%										3.95%
Face amount		$ 12,823,000										$ 16,350,000
Due on demand, term		90 days
Due on demand, intended demand term, minimum		12 months
Cannasoul Collaboration Loan \| Loans Receivable
Long term portion
Long term portion of loans receivable, before accrued interest			1,261,000		$ 0
Cannasoul Collaboration Loan \| Loans Receivable \| Establishment of a Commercial Cannabis Analytical Testing Laboratoy \| Cannasoul Analytics Ltd.
Long term portion
Allowance for credit loss			$ 259,000
Collaborative arrangement, term of agreement	2 years
Cannasoul Collaboration Loan \| Loans Receivable \| Establishment of a Commercial Cannabis Analytical Testing Laboratoy \| Cannasoul Analytics Ltd. \| Variable Interest Entity, Not Primary Beneficiary
Long term portion
Collaboration agreement, amount of advances	$ 2,574,000								₪ 8,297
Collaborative arrangement, term of agreement			2 years	2 years
Interest rate	3.50%		3.50%				3.50%		3.50%
Collaborative arrangement, installment received			$ 1,287,000				₪ 4,148
Current expected credit loss			$ 25,000

Loans Payable - Long-term Narrative (Details) $ in Thousands			12 Months Ended
	Jan. 23, 2019 USD ($)	Jan. 23, 2019 CAD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 08, 2019 USD ($)	Mar. 08, 2019 CAD ($)	Jan. 23, 2019 CAD ($)
Debt Instrument [Line Items]
Repayments of construction loans payable			$ 0	$ 15,971	$ 0
Construction Loans \| Construction Loan Agreement
Debt Instrument [Line Items]
Repayments of construction loans payable	$ 15,971	$ 21,311,000
Repayments of construction loans payable, accrued interest and fees	206	$ 275,000
Non-revolving Term Loan Facility \| Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 48,715							$ 65,000,000
Payments of transaction costs						$ 395	$ 523,000

Property, Plant and Equipment - Schedule of Property, Plant & Equipment, Useful Lives (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (18,295)	$ (8,745)
Balance as of December 31	187,599	159,948
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,197	3,071
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	158,586	149,690
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	18,824	10,079
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	710	526
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,740	1,758
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 20,837	$ 3,569

Property, Plant, and Equipment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense included in costs of sales	$ 3,447	$ 1,812	$ 374
Depreciation expense included in operating expenses	2,058	1,444	261
Interest costs capitalized	$ 0	$ 0	$ 89

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Goodwill, impairment loss	$ 35,000
Amortization of intangible assets	814	$ 646	$ 546
Purchase of intangible assets	3,979	289	$ 278
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021	1,047
2022	998
2023	964
2024	952
2025	664
Lord Jones brand
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	5,000
Purchase of intangible assets		$ 64,000
United States
Finite-Lived Intangible Assets [Line Items]
Goodwill, impairment loss	$ 35,000

Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (1,841)	$ (1,027)
Indefinite-lived Intangible Assets [Line Items]
Cost	76,561	72,262
Impairment charges	(5,000)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Cost	76,561	72,262
Accumulated amortization	(1,841)	(1,027)
Impairment charges	(5,000)
Net	69,720	71,235
Lord Jones brand
Indefinite-lived Intangible Assets [Line Items]
Cost	64,000	64,000
Impairment charges	(5,000)
Net	59,000	64,000
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Cost	64,000	64,000
Impairment charges	(5,000)
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Cost	148	36
Net	148	36
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Cost	$ 148	$ 36
Software
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	5 years	5 years
Cost	$ 610	$ 541
Accumulated amortization	(291)	(202)
Net	319	339
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ (291)	$ (202)
ERP system
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	5 years
Cost	$ 3,955
Accumulated amortization	(274)
Net	3,681
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ (274)
Health Canada licenses
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	17 years	17 years
Cost	$ 7,526	$ 7,387
Accumulated amortization	(1,254)	(821)
Net	6,272	6,566
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ (1,254)	$ (821)
Israeli codes
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	25 years	25 years
Cost	$ 322	$ 298
Accumulated amortization	(22)	(4)
Net	300	294
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ (22)	$ (4)

Intangible Assets and Goodwill - Schedule of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 214,492
Additions	0
Impairment charges	(35,000)
Effect of foreign exchange	30
Balance at end of period	179,522
Peace Naturals
Goodwill [Roll Forward]
Balance at beginning of period	1,078
Additions	0
Impairment charges	0
Effect of foreign exchange	30
Balance at end of period	1,108
Redwood
Goodwill [Roll Forward]
Balance at beginning of period	213,414
Additions	0
Impairment charges	(35,000)
Effect of foreign exchange	0
Balance at end of period	$ 178,414

Leases - Narrative (Details)	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease, extension term	10 years
Land
Lessee, Lease, Description [Line Items]
Operating lease, term	15 years
Minimum \| Office Premises and Equipment
Lessee, Lease, Description [Line Items]
Operating lease, term	3 years
Maximum \| Office Premises and Equipment
Lessee, Lease, Description [Line Items]
Operating lease, term	6 years

Leases - Schedule of Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lease cost
Operating lease cost	$ 2,479	$ 760
Short-term lease cost	60	373
Total lease cost	$ 2,539	$ 1,133
Weighted-average remaining lease term – operating leases	6 years	5 years
Weighted-average discount rate – operating leases	8.86%	12.00%

General and Administrative Expenses - Schedule of General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Salaries and wages	$ 26,742	$ 17,829	$ 4,240
Professional and consulting	15,135	15,369	5,242
Office and general	17,845	13,407	3,713
Review costs related to restatement of 2019 interim financial statements	9,688	0	0
Current expected credit loss	2,512	136	0
Other	8,607	2,530	154
Total	$ 80,529	$ 49,271	$ 13,349

Derivative Liabilities - Narrative (Details) $ in Thousands		10 Months Ended	12 Months Ended
Derivative Liabilities - Narrative (Details) $ in Thousands	Mar. 08, 2019 warrant $ / shares shares	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) shares
Derivative [Line Items]
Gain on revaluation		$ 1,276,819	$ 129,254
Altria Group, Inc. \| Cronos Group, Inc.
Derivative [Line Items]
Ownership interest	45.00%
Altria Investment
Derivative [Line Items]
Shares issued (in shares) \| shares	149,831,154
Cronos Group, Inc. \| Altria Group, Inc.
Derivative [Line Items]
Ownership percentage, if warrant exercised	55.00%
Altria Investment
Derivative [Line Items]
Maximum additional subscription percentage	10.00%
Derivative liability, additional subscription (in shares) \| shares			80,100,000
Altria Warrant
Derivative [Line Items]
Number of warrants issued \| warrant	1
Exercise price (in dollars per share) \| $ / shares	$ 19.00
Gain on revaluation		869,630	$ 95,045
Pre-emptive Rights
Derivative [Line Items]
Exercise price (in dollars per share) \| $ / shares	$ 16.25
Exercise rights, minimum ownership percentage	20.00%
Gain on revaluation		81,070	885
Top-up Rights
Derivative [Line Items]
Exercise price (in dollars per share) \| $ / shares	$ 16.25
Exercise rights, minimum ownership percentage	20.00%
Exercise price, volume-weighted average price, measurement period	10 days
Exercise price, volume-weighted average price, measurement period, days preceding exercise	10 days
Derivative transaction costs		22,355
Gain on revaluation		$ 326,119	$ 33,324

Derivative Liabilities - Schedule of Reconciliation of Carrying Amounts (Details) - USD ($) $ in Thousands	10 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020
Derivative Instruments [Roll Forward]
Beginning balance	$ 1,565,620	$ 297,160
Gain on revaluation	(1,276,819)	(129,254)
Exercise of Rights	(15,478)	(3,227)
Effect of FX	23,837	(1,269)
Ending balance	297,160	163,410
Altria Warrant
Derivative Instruments [Roll Forward]
Beginning balance	1,086,920	234,428
Gain on revaluation	(869,630)	(95,045)
Exercise of Rights	0	0
Effect of FX	17,138	(525)
Ending balance	234,428	138,858
Pre-emptive Rights
Derivative Instruments [Roll Forward]
Beginning balance	92,548	12,787
Gain on revaluation	(81,070)	(885)
Exercise of Rights	0	0
Effect of FX	1,309	193
Ending balance	12,787	12,095
Top-up Rights
Derivative Instruments [Roll Forward]
Beginning balance	386,152	49,945
Gain on revaluation	(326,119)	(33,324)
Exercise of Rights	(15,478)	(3,227)
Effect of FX	5,390	(937)
Ending balance	$ 49,945	$ 12,457

Derivative Liabilities - Schedule of Sensitivity Analysis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Altria Warrant
Sensitivity Analysis, Impact of 10 Percent Decrease (Increase) on Net Income (Loss) [Abstract]
Share price at issuance date	$ 25,819	$ 36,436
Weighted average expected life	13,541	17,471
Expected annualized volatility	26,183	33,343
Pre-emptive Rights
Sensitivity Analysis, Impact of 10 Percent Decrease (Increase) on Net Income (Loss) [Abstract]
Share price at issuance date	2,527	2,743
Weighted average expected life	1,988	2,366
Expected annualized volatility	2,269	2,180
Top-up Rights
Sensitivity Analysis, Impact of 10 Percent Decrease (Increase) on Net Income (Loss) [Abstract]
Share price at issuance date	2,989	9,577
Weighted average expected life	2,121	2,178
Expected annualized volatility	$ 2,602	$ 7,714

Capital Stock - Narrative (Details) $ in Thousands			12 Months Ended
Capital Stock - Narrative (Details) $ in Thousands	Dec. 23, 2019 USD ($) shares	Mar. 08, 2019 shares	Dec. 31, 2020 USD ($) vote shares	Dec. 31, 2019 USD ($) installment shares	Dec. 31, 2018 USD ($) shares
Subsidiary, Sale of Stock [Line Items]
Common shares, number of votes per share \| vote			1
Shares issued				$ 304,821	$ 115,510
Share issuance costs			$ 0	3,722	7,577
Altria Investment
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares) \| shares		149,831,154
Shares issued				1,809,556
Share issuance costs				3,722
Transaction costs				25,223
Redwood Acquisition
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, new issues, fair value				$ 56,109
Private Placements
Subsidiary, Sale of Stock [Line Items]
Consideration transferred, common shares (in shares) \| shares				856,017
Common stock, vesting rights, number of equal installments \| installment				3
Consideration transferred, common shares, amount				$ 6,000
Bought Deal Offerings
Subsidiary, Sale of Stock [Line Items]
Shares issued					115,510
Share issuance costs					$ 7,577
Common Shares
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares) \| shares			0	155,773,757	15,677,143
Shares issued				$ 304,411	$ 115,510
Stock repurchased during period (in shares) \| shares			0	0	0
Common Shares \| Altria Investment
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares) \| shares			0	149,831,154	0
Shares issued				$ 248,302
Transaction costs				$ 3,642
Common Shares \| Redwood Acquisition
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares) \| shares			0	5,086,586	0
Common Shares \| Private Placements
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares) \| shares	856,017		0	856,017	0
Stock issued during period, new issues, fair value	$ 6
Stock issued during period, new issues, measurement input	10 days			10 days
Common Shares \| Bought Deal Offerings
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares) \| shares			0	0	15,677,143
Derivative Liability \| Altria Investment
Subsidiary, Sale of Stock [Line Items]
Transaction costs				$ 21,581

Capital Stock - Schedule of Common Shares Issued (Details) - shares			12 Months Ended
	Dec. 23, 2019	Mar. 08, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Altria Investment
Class of Stock [Line Items]
Shares issued (in shares)		149,831,154
Common Shares
Class of Stock [Line Items]
Shares issued (in shares)			0	155,773,757	15,677,143
Common Shares \| Altria Investment
Class of Stock [Line Items]
Shares issued (in shares)			0	149,831,154	0
Common Shares \| Redwood Acquisition
Class of Stock [Line Items]
Shares issued (in shares)			0	5,086,586	0
Common Shares \| Private Placements
Class of Stock [Line Items]
Shares issued (in shares)	856,017		0	856,017	0
Common Shares \| Bought Deal Offerings
Class of Stock [Line Items]
Shares issued (in shares)			0	0	15,677,143

Share-based Payments - Summary of Changes in Warrants (Details) - Warrants - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Weighted average exercise price (C$)
Balance at beginning of period (in dollars per share)	$ 0.26	$ 0.26
Exercise of warrants (in dollars per share)	0.27	0.26
Balance at end of period (in dollars per share)	$ 0.25	$ 0.26
Number of warrants
Balance at beginning of period (in shares)	18,066,662	25,457,623
Exercise of warrants (in shares)	(10,079,313)	(7,390,961)
Balance at end of period (in shares)	7,987,349	18,066,662

Share-based Payments - Summary of Outstanding Warrants (Details) - Warrants - $ / shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share)	$ 0.25	$ 0.26	$ 0.26
Number of warrants (in shares)	7,987,349	18,066,662	25,457,623
May 13 – 27, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share)	$ 0.25
Number of warrants (in shares)	7,987,349

Share-based Payments - Stock Options Narrative (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Mar. 29, 2020	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 $ / shares	Jun. 25, 2020 shares	Dec. 31, 2019 $ / shares	Jun. 28, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments \| $		$ 15,361	$ 11,619	$ 8,151
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments \| $		$ 7,185	$ 10,278	$ 8,151
Share price at grant date (in dollars per share)		$ 6.96
Stock options \| 2015 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future awards to be granted (in shares) \| shares								0
Stock options \| 2018 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future awards to be granted (in shares) \| shares						0
Stock options \| 2020 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	7 years
Stock options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Share price at grant date (in dollars per share)							$ 15.34
Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Share price at grant date (in dollars per share)							24.75
Stock options \| Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price at grant date (in dollars per share)					$ 4.84		$ 13.03

Share-based Payments - Schedule of Stock Options Outstanding (Details) - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	13,755,148	14,149,502	12,902,995
2020 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	2,000,000	0	0
2018 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	1,627,715	1,817,287	285,000
2015 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	10,127,433	12,332,215	12,617,995

Share-based Payments - Summary of the Changes in Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted average exercise price (C$)
Balance at beginning of period (in dollars per share)	$ 4.84	$ 2.99
Issuance of options (in dollars per share)	6.96	20.08
Exercised (in dollars per share)	2.03	3.48
Cancellation, forfeiture and expiry of options (in dollars per share)	14.34	2.27
Balance at end of period (in dollars per share)	5.40	4.84	$ 2.99
Exercisable (in dollars per share)	$ 3.75	$ 2.93
Number of options
Balance at beginning of period (in shares)	14,149,502	12,902,995
Issuance of options (in shares)	2,000,000	1,534,162
Exercised (in shares)	(2,131,939)	(282,572)
Cancellation of options (in shares)	(262,415)	(5,083)
Balance at end of period (in shares)	13,755,148	14,149,502	12,902,995
Exercisable (in shares)	9,643,682	9,034,714
Weighted average remaining contractual term (years)
Outstanding	2 years 3 months 18 days	2 years 6 months 21 days	3 years 4 months 6 days
Exercisable	1 year 4 months 2 days	2 years 3 months 7 days

Share-based Payments - Fair Value of Options Issued (Details) - Stock options	12 Months Ended
	Dec. 31, 2020 $ / shares $ / shares	Dec. 31, 2019 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price at grant date (in dollars per share)	$ 6.96
Exercise price (per option) (in dollars per share)	$ 6.96
Risk-free interest rate	43.00%
Expected life of options (in years)	5 years	5 years
Expected annualized volatility	91.00%	82.00%
Expected dividend yield	0.00%	0.00%
Weighted average Black-Scholes value at grant date (per option) (in dollars per share)	$ 4.84	$ 13.03
Forfeiture rate	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price at grant date (in dollars per share)		$ 15.34
Exercise price (per option) (in dollars per share)		$ 15.34
Risk-free interest rate		1.39%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price at grant date (in dollars per share)		$ 24.75
Exercise price (per option) (in dollars per share)		$ 24.75
Risk-free interest rate		1.62%

Share-based Payments - Restricted Share Units Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments		$ 15,361	$ 11,619	$ 8,151
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Accelerated and vested (in shares)	732,972
Share-based payments		$ 8,176	$ 889
Granted (in shares)		957,854	732,972	0

Share-based Payments - Summary of Restricted Share Units Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of warrants
Exercised (in shares)	(2,131,939)	(282,572)
Weighted average grant date fair value (C$)
Exercised (in dollars per share)	$ 2.03	$ 3.48
Restricted share units
Number of warrants
Balance at beginning of period (in shares)	732,972	0
Granted (in shares)	957,854	732,972	0
Exercised (in shares)	(732,972)
Cancellation and forfeitures (in shares)	(9,497)
Balance at end of period (in shares)	948,357	732,972	0
Weighted average grant date fair value (C$)
Balance at beginning of period (in dollars per share)	$ 15.34	$ 0
Granted (in dollars per share)	7.66	15.34
Exercised (in dollars per share)	15.34
Cancellation and forfeitures (in dollars per share)	7.52
Balance at end of period (in dollars per share)	$ 7.66	$ 15.34	$ 0

Share-based Payments - Deferred Share Units Narrative (Details)	12 Months Ended
	Dec. 31, 2018 shares
Deferred Share Units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0

Share-based Payments - Summary of Deferred Share Units Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial liability
Granting and vesting of DSUs	$ 15,361	$ 11,619	$ 8,151
Deferred Share Units (DSUs)
Number of warrants
Balance at beginning of period (in shares)	33,397	0
Granting and vesting of DSUs (in shares)	58,380	33,397
Liabilities settled (in shares)	(8,484)
Balance at end of period (in shares)	83,293	33,397	0
Financial liability
Balance at beginning of period	$ 255	$ 0
Granting and vesting of DSUs	338	452
Liabilities settled	(46)
Loss (gain) on revaluation	30	(197)
Balance at end of period	$ 577	$ 255	$ 0

Earnings (loss) Per Share - Schedule of Earnings (Loss) Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Basic earnings (loss) per share computation

Income (loss) from continuing operations attributable to common shareholders of Cronos Group

$ (72,487)

$ 1,166,869

$ (20,742)

Weighted average number of common shares outstanding (in shares)

351,576,848

310,067,179

172,269,170

Basic earnings (loss) per share (in dollars per share)

$ (0.21)

$ 3.76

$ (0.12)

Income (loss) from continuing operations used in the computation of basic earnings (loss) per share

$ (72,487)

$ 1,166,869

$ (20,742)

Adjustment for gain on revaluation of derivative liabilities

(24,416)

Income (loss) from continuing operations used in the computation of diluted income (loss) per share

$ (72,487)

$ 1,142,453

$ (20,742)

Weighted average number of common shares outstanding (in shares)

351,576,848

310,067,179

172,269,170

Weighted average number of common shares for computation of diluted income (loss) per share (in shares)

^[1]

351,576,848

342,811,992

172,269,170

Diluted earnings (loss) per share (in dollars per share)

^[1]

$ (0.21)

$ 3.33

$ (0.12)

Basic loss from discontinued operations per share computation

Loss from discontinued operations attributable to common shareholders of Cronos Group

$ (650)

$ (363)

$ (894)

Weighted average number of common shares outstanding (in shares)

351,576,848

310,067,179

172,269,170

Basic loss from discontinued operations per share (in dollars per share)

$ (0.00)

$ (0.01)

Altria Warrant

Dilutive effect of derivative liabilities (in shares)

Top-up Rights

Dilutive effect of derivative liabilities (in shares)

1,881,002

Warrants

Dilutive effect of awards (in shares)

19,481,352

Stock options

Dilutive effect of awards (in shares)

10,649,487

Restricted share units

Dilutive effect of awards (in shares)

732,972

[1]	In computing diluted earnings per share, incremental common shares are not considered in periods in which a net loss is reported, as the inclusion of the common share equivalents would be anti-dilutive.

Earnings (loss) Per Share - Schedule of Antidilutive Securities Excluded from Computation of Diluted Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	151,338,762	131,871,103	38,360,618
Ginkgo Equity Milestones
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	14,674,904	14,674,904	0
Pre-emptive Rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	11,534,475	12,006,740	0
Top-up Rights – fixed price
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	17,214,621	25,103,456	0
Top-up Rights – market price
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	3,413,065	1,255,223	0
Altria Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	80,056,296	77,514,993	0
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	15,147,116	0	25,457,623
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	9,218,674	1,315,787	12,902,995
Restricted share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	79,611	0	0

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,749,030	$ 148,549	$ 63,733
Accounting Standards Update [Extensible List]				us-gaap:AccountingStandardsUpdate201601Member
Ending balance	1,708,168	1,749,030	148,549	$ 63,733
Accumulated other comprehensive income (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	27,838	(9,870)	2,458
Ending balance	42,999	27,838	(9,870)	2,458
Net unrealized gain (loss) on revaluation and disposal of other investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	5	5	446
Net unrealized (loss) gain	0	0	3
Ending balance	5	5	5	446
Net unrealized gain (loss) on revaluation and disposal of other investments \| Cumulative Effect, Period of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	0	(444)
Ending balance		0	0	(444)
Net foreign exchange gain (loss) on translation of foreign operations
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	27,833	(9,875)	2,456
Net unrealized (loss) gain	15,161	37,708	(12,331)
Ending balance	$ 42,994	$ 27,833	$ (9,875)	$ 2,456

Indicates amendment to accounting standards.

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Maximum exposure to credit risk

Income Taxes - Schedule of Income (Loss) before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes	$ (73,273)	$ 1,165,937	$ (20,923)
Rest of World
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes	12,679	1,169,007	(20,923)
United States
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes	$ (85,952)	$ (3,070)	$ 0

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Valuation Allowance [Line Items]
Income (loss) from discontinued operations, net of income taxes	$ (650,000)	$ (363,000)	$ (894,000)
Taxes payable, current	$ 865,000	$ 0	$ 0
Effective income tax rate	26.50%	26.50%	26.50%
Canada
Valuation Allowance [Line Items]
Operating loss carryforwards	$ 177,651,000	$ 92,773,000
Untied States
Valuation Allowance [Line Items]
Operating loss carryforwards	62,851,000	14,374,000
Israel
Valuation Allowance [Line Items]
Operating loss carryforwards	14,042,000	8,763,000
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset
Valuation Allowance [Line Items]
Increase in valuation allowance	$ 48,294,000	$ 28,019,000

Income Taxes - Expense for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Total	$ 1,347	$ 0	$ 0
Deferred:
Total	0	0	0
Rest of World
Current:
Total	1,024	0	0
Deferred:
Total	0	0	0
United States
Current:
Total	323	0	0
Deferred:
Total	$ 0	$ 0	$ 0

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (73,273)	$ 1,165,937	$ (20,923)
Effective income tax rate	26.50%	26.50%	26.50%
Expected income tax expense (benefit)	$ (19,417)	$ 308,973	$ (5,545)
Non-taxable income	(711)	(2,156)	14
Non-deductible share-based compensation	2,498	2,839	2,466
Non-deductible expenses	1,364	764	0
Non-deductible transaction costs	3,146	1,523	0
Effect of provincial tax rate difference	(15)	(44)	(64)
Effect of tax rates outside of Canada	(362)	70	0
Fair value gain on financial liabilities	(34,250)	(338,409)	0
Changes in valuation allowance	48,227	25,808	3,437
Other	867	632	(308)
Income tax expense (recovery), net	$ 1,347	$ 0	$ 0

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred assets:
Tax loss carryforwards	$ 67,476	$ 30,908
Interest expense carryforwards	1,407	0
Deferred financing costs	4,233	5,690
Share issuance cost	1,573	2,217
Finance lease obligation	1,953	1,491
Plant and equipment	5,945	871
Investment	307	395
Intangible asset	4,218	0
Reserve	1,858	0
Other	570	482
Total deferred tax assets	89,540	42,054
Less valuation allowance	(85,935)	(36,948)
Net deferred tax assets	3,605	5,106
Deferred tax liabilities:
Inventory	0	(1,227)
Plant and equipment	0	0
Intangible assets	0	(2,126)
Investment	0	0
License	(1,662)	(293)
Right-of-use assets	(1,943)	(1,460)
Total deferred tax liabilities	(3,605)	(5,106)
Net deferred tax liability	$ 0	$ 0

Income Taxes - Summary of Valuation Allowance (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Roll Forward]
Balance at beginning of year	$ (36,948)	$ (7,931)
Change due to foreign exchange	(693)	(998)
Increase	(48,294)	(28,019)
Balance at end of year	$ (85,935)	$ (36,948)

Commitments - Summary of Future Minimum Lease Payments Under Operating Leases (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 2,381
2022	2,302
2023	2,201
2024	1,711
2025	1,505
2026 and thereafter	$ 1,916

Commitments - R&D Commitments (Details) $ in Thousands	Feb. 18, 2019	Oct. 15, 2018 USD ($)	Sep. 04, 2018 USD ($) cannabinoid shares	Jul. 17, 2018 USD ($)
Ginkgo \| Research and Development Arrangement
Long-term Purchase Commitment [Line Items]
Number of cannabinoids targeted to develop scalable and consistent production \| cannabinoid			8
Common shares issuable (up to) (in shares) \| shares			14,674,903
Common shares issuable, value assigned				$ 100,000
Payments subject to milestones			$ 22,000
Technion \| Research and Development Arrangement
Long-term Purchase Commitment [Line Items]
Payments subject to milestones		$ 4,900
Amount of commitment		$ 1,784
Research funding period		3 years
Altria Ventures \| Consulting Services Arrangement
Long-term Purchase Commitment [Line Items]
Monthly fee, percentage of direct and indirect service costs	105.00%

Commitments - Use of Publicity Rights in Brand Development (Details) - Common Shares - USD ($)					12 Months Ended
	Dec. 23, 2022	Jun. 23, 2021	Jan. 31, 2020	Dec. 23, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares)					0	155,773,757	15,677,143
Private Placements
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares)				856,017	0	856,017	0
Stock issued during period, new issues, fair value				$ 6,000
Stock issued during period, new issues, measurement input				10 days		10 days
Private Placements \| Share-based Payment Arrangement, Tranche One
Subsidiary, Sale of Stock [Line Items]
Award vesting rights, percentage			33.33%
Private Placements \| Share-based Payment Arrangement, Tranche Two \| Forecast
Subsidiary, Sale of Stock [Line Items]
Award vesting rights, percentage		33.33%
Private Placements \| Share-based Payment Arrangement, Tranche Three \| Forecast
Subsidiary, Sale of Stock [Line Items]
Award vesting rights, percentage	33.33%
Private Placements \| Sale Of Stock, Performance Milestone One
Subsidiary, Sale of Stock [Line Items]
Sale of stock, performance milestone, triggering event, minimum revenue				$ 50,000
Sale of stock, performance milestone, triggering event, shares issued, value				1,000
Private Placements \| Sale Of Stock, Performance Milestone Two
Subsidiary, Sale of Stock [Line Items]
Sale of stock, performance milestone, triggering event, minimum revenue				100,000
Sale of stock, performance milestone, triggering event, shares issued, value				$ 1,000

Contingencies (Details) - Pending Litigation $ in Millions	Jun. 16, 2020 CAD ($)	Mar. 12, 2020 shareholder complaint
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Damages sought	$ 500
Punitive damages sought	$ 5
U.S. District Court of Eastern District of New York Vs. Cronos
Loss Contingencies [Line Items]
Number of alleged shareholders \| shareholder		2
Number of putative class action complaints \| complaint		2

Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Operating Capital [Abstract]
Accounts receivable	$ (4,724)	$ (702)	$ (2,569)
Prepaids and other receivables	(5,300)	(10,509)	(2,382)
Current portion of loans receivable	0	(4,585)	0
Inventory	(28,094)	(51,888)	(4,092)
Accounts payable and other liabilities	4,175	13,476	12,705
Total	$ (33,943)	$ (54,208)	$ 3,662

Financial Instruments - Credit Risk Narrative (Details) - USD ($)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Concentration Risk [Line Items]

$ 1,403,491,000

$ 1,586,978,000

Accounts receivable

^[1]

$ 8,928,000

4,638,000

Accounts receivable, threshold period past due, writeoff

120 days

Current expected credit loss

$ 74,000

136,000

Cash and cash equivalents

1,078,023,000

1,199,693,000

Short-term investments

211,766,000

306,347,000

Advances to joint ventures

467,000

19,437,000

$ 4,689,000

Advances to joint ventures, allowance for credit loss

$ 0

Four Customers | Accounts Receivable | Credit Concentration Risk

Concentration Risk [Line Items]

Concentration risk, percentage

78.00%

Two Customers | Accounts Receivable | Credit Concentration Risk

Concentration Risk [Line Items]

Concentration risk, percentage

56.00%

[1]	Net of current expected credit loss allowance of $74 as of December 31, 2020 (December 31, 2019 – $136)

Financial Instruments - Liquidity Risk Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Accounts payable, past due	$ 12,107	$ 9,194
Accounts Payable \| Supplier Concentration Risk \| Four Vendors
Concentration Risk [Line Items]
Concentration risk, percentage	64.00%
Accounts Payable \| Supplier Concentration Risk \| Three Vendors
Concentration Risk [Line Items]
Concentration risk, percentage		42.00%

Financial Instruments - Interest Rate Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, All Other Investments [Abstract]
Interest income, net	$ 18,415	$ 27,969	$ 81
Impact of change in average variable rate, percent	1.49%
Impact of change in average variable rate, amount	$ (15,671)

Financial Instruments - Currency Rate Risk Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Risks and Uncertainties [Abstract]
Foreign exchange gain (loss) on translation	$ 14,951	$ 37,687	$ (12,337)
Impact of ten percent change in exchange rate	$ 170,817	$ 174,902

Fair Value Measurement (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 1,078,023	$ 1,199,693
Short-term investments	211,766	306,347
Derivative liabilities	163,410	297,160
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,078,023	1,199,693
Short-term investments	211,766	306,347
Derivative liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Short-term investments	0	0
Derivative liabilities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Short-term investments	0	0
Derivative liabilities	$ 163,410	$ 297,160

Related Party Transactions and Balances - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 08, 2019
Altria Pinnacle LLC. \| Purchase of Machinery and Equipment \| Altria Group, Inc.
Related Party Transaction [Line Items]
Purchases		$ 1,258
Altria Pinnacle LLC. \| Consulting Services
Related Party Transaction [Line Items]
Consulting fees	$ 1,199	3,479
Altria Pinnacle LLC. \| Consulting Services \| Altria Pinnacle LLC.
Related Party Transaction [Line Items]
Consulting fees	$ 1,199	$ 3,479	$ 0
Cronos Group, Inc. \| Altria Group, Inc.
Related Party Transaction [Line Items]
Ownership interest				45.00%

Related Party Transactions and Balances - Schedule of Related Party Transactions (Details) - Consulting Services - Altria Pinnacle LLC. - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Consulting fees	$ 1,199	$ 3,479
Accrual for consulting services	0	1,152
Altria Pinnacle LLC.
Related Party Transaction [Line Items]
Consulting fees	1,199	3,479	$ 0
Accrual for consulting services	$ 0	$ 1,152

Non-monetary Transactions (Details)		1 Months Ended	12 Months Ended
Non-monetary Transactions (Details)	Mar. 28, 2019 USD ($) transaction	Sep. 30, 2019 USD ($) transaction	Dec. 31, 2020 transaction	Dec. 31, 2018 transaction
Nonmonetary Transaction [Line Items]
Number of transactions \| transaction			0	0
Purchased Cannabis Resin and Sold Cannabis Dry Flower
Nonmonetary Transaction [Line Items]
Number of transactions \| transaction	2	3
Revenue recognized \| $	$ 0	$ 2,300,000
Gain (loss) recognized on transfer \| $	$ 0	$ 0

Business Combinations - Narrative (Details)		4 Months Ended	12 Months Ended
Business Combinations - Narrative (Details)	Sep. 05, 2019 USD ($) subsidiary shares	Dec. 31, 2019 USD ($)	Dec. 31, 2020 business	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) business	Sep. 05, 2019 $ / shares
Business Acquisition [Line Items]
Number of operating subsidiaries acquired \| business			0		0
Redwood
Business Acquisition [Line Items]
Number of operating subsidiaries acquired \| subsidiary	4
Consideration transferred	$ 283,300,000
Payments to acquire businesses	$ 227,191,000
Consideration transferred, common shares (in shares) \| shares	5,086,586
Consideration transferred, common shares, amount	$ 56,109,000
Consideration transferred, common shares, volume weighted average trading price (in dollars per share) \| $ / shares						$ 14.74
Acquisition-related costs				$ 8,531,000
Business acquisition, goodwill, expected tax deductible amount	$ 0
Revenue of acquiree since acquisition date		$ 3,364,000
Loss of acquiree since acquisition date		$ 2,613,000
Pro forma revenue				12,266,000	$ 7,630,000
Pro forma net income (loss)				$ 1,112,000	$ 1,533,000

Business Combinations - Schedule of Fair Value of Net Assets Acquired (Details) - USD ($)	Sep. 05, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair value of net assets acquired
Goodwill		$ 179,522,000	$ 214,492,000	$ 1,314,000
Redwood
Fair value of net assets acquired
Cash	$ 2,896,000
Accounts receivable	647,000
Prepaid expenses and other assets	265,000
Inventory	2,806,000
Property and equipment	1,890,000
Right-of-use assets	3,533,000
Intangible assets	64,037,000
Goodwill	213,414,000
Accounts payable and accrued liabilities	(2,688,000)
Lease obligations	(3,500,000)
Net assets acquired	283,300,000
Accounts receivable	647,000
Business combination, acquired receivables, estimated uncollectible	0
Redwood \| Brand name
Fair value of net assets acquired
Indefinite-lived intangible assets acquired, fair value	$ 64,000,000

Repurposing Charges - Schedule of Plan Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Employee termination benefits		$ 889,000
Impairment costs associated with plan		4,439,000
Repurposing charges	$ 0	$ 5,328,000	$ 0

Repurposing Charges - Narrative (Details) - USD ($)	12 Months Ended
Repurposing Charges - Narrative (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Inventory write-down	$ 26,055,000	$ 29,173,000	$ 0
Repurposing charges	0	5,328,000	$ 0
Restructuring reserve	$ 0	907,000
Repurposing Plan
Restructuring Cost and Reserve [Line Items]
Inventory write-down		$ 1,940,000

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Allowance for credit loss	$ 74,000	$ 136,000
Net revenue, before excise taxes	54,353,000	25,639,000	$ 13,234,000
United States
Segment Reporting Information [Line Items]
Allowance for credit loss	65,000	12,000
Rest of World
Segment Reporting Information [Line Items]
Allowance for credit loss	9,000	124,000	0
Four Major Customers \| Rest of World
Segment Reporting Information [Line Items]
Net revenue, before excise taxes	$ 34,295,000
Four Major Customers \| Rest of World \| Customer Concentration Risk \| Revenue Benchmark
Segment Reporting Information [Line Items]
Concentration risk, percentage	63.00%
Two Major Customers \| Rest of World
Segment Reporting Information [Line Items]
Net revenue, before excise taxes		$ 7,597,000
Two Major Customers \| Rest of World \| Customer Concentration Risk \| Revenue Benchmark
Segment Reporting Information [Line Items]
Concentration risk, percentage		32.00%
One Major Customer \| Rest of World
Segment Reporting Information [Line Items]
Net revenue, before excise taxes			$ 2,186,000
One Major Customer \| Rest of World \| Customer Concentration Risk \| Revenue Benchmark
Segment Reporting Information [Line Items]
Concentration risk, percentage			17.00%

Segment Information - Schedule of Segment Data (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	$ 46,719	$ 23,750	$ 12,121
Share of loss from equity accounted investees	(4,510)	(2,009)	(723)
Interest revenue	18,601	29,213	220
Interest expense	(186)	(1,244)	(139)
Interest income (expense), net	18,415	27,969	81
Depreciation and amortization	2,872	2,090	807
Income tax expense	1,347	0	0
Loss from discontinued operations	(650)	(363)	(894)
Adjusted EBITDA	(147,253)	(98,308)	(10,357)
Consolidated balance sheets
Total assets	1,925,682	2,090,442	183,471
Investments in equity accounted investees	19,235	557	2,960
Goodwill	179,522	214,492	1,314
Purchase of property, plant and equipment	31,412	38,664	88,308
Operating Segments \| United States
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	9,495	3,364	0
Share of loss from equity accounted investees	0	0	0
Interest revenue	16	6	0
Interest expense	(34)	0	0
Interest income (expense), net	(18)	6	0
Depreciation and amortization	234	46	0
Income tax expense	323	0	0
Loss from discontinued operations	0	0	0
Adjusted EBITDA	(28,019)	(1,703)	0
Consolidated balance sheets
Total assets	253,745	293,985	0
Investments in equity accounted investees	0	0	0
Goodwill	178,414	213,414	0
Purchase of property, plant and equipment	385	259	0
Operating Segments \| Rest of World
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	37,224	20,386	12,121
Share of loss from equity accounted investees	(4,510)	(2,009)	(723)
Interest revenue	18,585	29,207	220
Interest expense	(152)	(1,244)	(139)
Interest income (expense), net	18,433	27,963	81
Depreciation and amortization	2,638	2,044	807
Income tax expense	1,024	0	0
Loss from discontinued operations	(650)	(363)	(894)
Adjusted EBITDA	(98,349)	(84,826)	(10,357)
Consolidated balance sheets
Total assets	388,351	309,854	183,471
Investments in equity accounted investees	19,235	557	2,960
Goodwill	1,108	1,078	1,314
Purchase of property, plant and equipment	31,027	38,405	88,308
Corporate
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	0	0	0
Share of loss from equity accounted investees	0	0	0
Interest revenue	0	0	0
Interest expense	0	0	0
Interest income (expense), net	0	0	0
Depreciation and amortization	0	0	0
Income tax expense	0	0	0
Loss from discontinued operations	0	0	0
Adjusted EBITDA	(20,885)	(11,779)	0
Consolidated balance sheets
Total assets	1,283,586	1,486,603	0
Investments in equity accounted investees	0	0	0
Goodwill	0	0	0
Purchase of property, plant and equipment	0	0	0
Cannabis flower
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	27,932	15,020	9,210
Cannabis flower \| Operating Segments \| United States
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	0	0	0
Cannabis flower \| Operating Segments \| Rest of World
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	27,932	15,020	9,210
Cannabis flower \| Corporate
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	0	0	0
Cannabis extracts
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	18,254	8,702	2,732
Cannabis extracts \| Operating Segments \| United States
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	9,495	3,364	0
Cannabis extracts \| Operating Segments \| Rest of World
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	8,759	5,338	2,732
Cannabis extracts \| Corporate
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	0	0	0
Other
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	533	28	179
Other \| Operating Segments \| United States
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	0	0	0
Other \| Operating Segments \| Rest of World
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	533	28	179
Other \| Corporate
Consolidated statements of net income (loss) and comprehensive income (loss)
Net revenue	$ 0	$ 0	$ 0

Segment Information - Schedule of Adjusted EBITDA (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ (75,270)

$ 1,165,574

$ (21,817)

(18,415)

(27,969)

(81)

1,347

40,000

7,268

32,208

^[1]

(129,254)

(1,276,819)

Share of loss (income) from equity accounted investees

(4,789)

(16,277)

(164)

4,510

2,009

723

650

363

894

1,834

(197)

9,688

15,361

11,619

8,151

(154,298)

(102,221)

(12,294)

7,045

3,913

1,937

Operating Segments | United States

(147,253)

(98,308)

(10,357)

(77,368)

(3,070)

(6)

323

40,000

117

Share of loss (income) from equity accounted investees

182

8,714

900

(28,253)

(1,877)

234

174

Operating Segments | Rest of World

(28,019)

(1,703)

32,671

1,180,241

(18,433)

(27,963)

(81)

1,024

7,268

32,091

(129,254)

(1,276,819)

Share of loss (income) from equity accounted investees

(4,789)

(16,277)

4,510

2,009

723

650

363

894

1,814

(197)

6,647

10,719

(105,160)

(88,565)

6,811

3,739

(98,349)

(84,826)

(10,357)

Corporate

(30,573)

(11,597)

Share of loss (income) from equity accounted investees

(182)

9,688

(20,885)

(11,779)

$ (20,885)

$ (11,779)

$ 0

[1]	Refer to Note 14 in the notes to the consolidated financial statements

Segment Information - Schedule of Revenue from External Customers by Geographic Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 46,719	$ 23,750	$ 12,121
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	34,538	20,202
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	9,495	3,364
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 2,686	$ 184

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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