Annual report pursuant to Section 13 and 15(d)

Goodwill (Tables)

v3.24.1
Goodwill (Tables)
12 Months Ended
Dec. 31, 2023
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, 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

Impairment

(3,030)

(3,030)

Balance, December 31, 2023

$

17,721

$

$

$

17,721

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 as of December 31, 2023 and 2022:

Standard

Jupiter

Farms PA

Terminal value growth rate

3.0%

3.0%

Discount rate

19.0%

17.0%

Projected revenue growth rate(1)

9.9%

11.8%

Fair value

$

96,111

$

24,280

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(2)

10.9%

25.4%

29.2%

Fair value

$

102,500

$

24,150

$

1,710

_____________

(1)  Reflects estimated compound annual revenue growth over the next five years.

(2) Projected revenue growth rate averaged over the next ten years.