Annual report pursuant to Section 13 and 15(d)

Goodwill (Tables)

v3.22.4
Goodwill (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill  
Schedule of Goodwill

For the purposes of impairment testing, goodwill is allocated to the Company’s reporting units as follows:

Standard

Standard

Jupiter

Farms PA

Farms OH

Total

Balance, January 1, 2021

$

88,387

$

10,306

$

$

98,693

Business acquisitions

1,380

1,380

Impairment

(25,040)

(4,488)

(29,528)

Balance, December 31, 2021

$

63,346

$

5,819

$

1,380

$

70,545

Impairment

(45,625)

(2,789)

(1,380)

(49,794)

Balance, December 31, 2022

$

17,721

$

3,030

$

$

20,751

Schedule of key assumptions used in determining the recoverable amount of reporting unit

The following tables details the key assumptions used in determining the recoverable amounts during the years ended December 31, 2022 and 2021:

Standard

Standard

Jupiter

Farms PA

Farms OH

Terminal value growth rate

3.0%

3.0%

2.0%

Discount rate

24.5%

35.9%

30.0%

Projected revenue growth rate*

10.9%

25.4%

29.2%

Fair value

$

102,500

$

24,150

$

1,710

Standard

Jupiter

Farms PA

Terminal value growth rate

3.0%

3.0%

Discount rate

24.7%

31.5%

Projected revenue growth rate*

20.2%

33.6%

Fair value

$

177,733

$

38,917

_____________

*Projected revenue growth rate averaged over the next ten years.