Loans Receivable, net | Loans Receivable, net Loans receivable, net consists of the following: As of June 30, 2023 As of December 31, 2022 GrowCo Credit Facility $ 5,035 $ 4,427 Add: Current portion of accrued interest — 4,463 Total current portion of loans receivable 5,035 8,890 GrowCo Credit Facility 55,757 56,898 Mucci Promissory Note 13,383 13,438 Cannasoul Collaboration Loan 1,736 1,837 Add: Long-term portion of accrued interest 204 172 Total long-term portion of loans receivable 71,080 72,345 Total loans receivable, net $ 76,115 $ 81,235 Cronos GrowCo Credit Facility On August 23, 2019, the Company, as lender, and Cronos GrowCo, as borrower, entered into a senior secured credit agreement for an aggregate principal amount of C$100,000 (the “GrowCo Credit Facility”). In August 2021, the GrowCo Credit Facility was amended to increase the aggregate principal amount available to C$105,000. As of both June 30, 2023 and December 31, 2022, Cronos GrowCo had drawn C$104,000 ($78,538 and $76,730, respectively) from the GrowCo Credit Facility. The interest rate on the outstanding borrowings is the Canadian Prime Rate plus 1.25%, with interest payments due on December 2021, December 2022, and quarterly thereafter. Principal payments of C$1,000 commenced in March 2022 and are due quarterly thereafter. As of June 30, 2023, Cronos GrowCo had repaid C$8,167 ($6,167) and C$16,486 ($12,450) in principal and interest, respectively, under the terms of the GrowCo Credit Facility. Mucci Promissory Note On June 28, 2019, the Company entered into a promissory note receivable agreement (the “Mucci Promissory Note”) for C$16,350 (approximately $12,347) with the Cronos GrowCo joint venture partner (“Mucci”). The Mucci Promissory Note is secured by a general security agreement covering all the assets of Mucci. On September 30, 2022, the Mucci Promissory Note was amended and restated to increase the interest rate from 3.95% to the Canadian Prime Rate plus 1.25%, change the interest payments from quarterly to annual, and defer Mucci’s initial cash interest payment from September 30, 2022 to July 1, 2023. Prior to July 1, 2022, interest accrued on the Mucci Promissory Note was capitalized as part of the principal balance. As of July 1, 2022, interest was accrued and to be paid in cash beginning on July 1, 2023. On June 30, 2023, Mucci made a payment of C$1,750 (approximately $1,322) under the Mucci Promissory Note, with C$1,187 ($897) related to accrued interest and C$563 ($425) related to outstanding principal. Cannasoul Collaboration Loan As of both June 30, 2023 and December 31, 2022, Cannasoul Lab Services Ltd. has received ILS 8,297 (approximately $2,239 and $2,359, respectively), from the Cannasoul Collaboration Loan. Expected credit loss allowances on the Company’s long-term financial assets for the three and six months ended June 30, 2023 and 2022 were comprised of the following items: As of April 1, 2023 Increase (decrease) (i) Foreign exchange effect As of June 30, 2023 GrowCo Credit Facility $ 11,719 $ (379) $ 239 $ 11,579 Mucci Promissory Note 91 (7) 2 86 Cannasoul Collaboration Loan 514 4 (15) 503 $ 12,324 $ (382) $ 226 $ 12,168 As of April 1, 2022 Increase (decrease) (i) Foreign exchange effect As of June 30, 2022 GrowCo Credit Facility $ 14,354 $ (660) $ (401) $ 13,293 Mucci Promissory Note 93 1 (3) 91 Cannasoul Collaboration Loan 409 4 (36) 377 $ 14,856 $ (655) $ (440) $ 13,761 As of January 1, 2023 Increase (decrease) (i) Foreign exchange effect As of June 30, 2023 GrowCo Credit Facility $ 12,455 $ (1,149) $ 273 $ 11,579 Mucci Promissory Note 89 (5) 2 86 Cannasoul Collaboration Loan 522 8 (27) 503 $ 13,066 $ (1,146) $ 248 $ 12,168 As of January 1, 2022 Increase (decrease) Foreign exchange effect As of June 30, 2022 GrowCo Credit Facility $ 14,089 $ (664) $ (132) $ 13,293 Mucci Promissory Note 90 2 (1) 91 Cannasoul Collaboration Loan 415 7 (45) 377 $ 14,594 $ (655) $ (178) $ 13,761 (i) During the three and six months ended June 30, 2023, $382 and $1,146, respectively, were recorded as decreases to general and administrative expenses on the condensed consolidated statements of net loss and comprehensive income (loss) as a result of principal and interest payments made by Cronos GrowCo reducing our expected credit losses on loans receivable. During both the three and six months ended June 30, 2022, $655 was recorded as a decrease to general and administrative expenses on the condensed consolidated statements of net loss and comprehensive income (loss) as a result of adjustments to our expected credit losses. |