Village Farms International Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
VFF$2.88+3.2%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Statements of Financial Position
Condensed Consolidated Statements of Financial Position
(In thousands of United States dollars, except share data)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $26,685 | $30,291 |
| Restricted cash | 5,000 | 5,000 |
| Trade receivables | 38,826 | 30,561 |
| Inventories | 74,029 | 78,472 |
| Other receivables | 115 | 294 |
| Prepaid expenses and deposits | 6,197 | 7,150 |
| Total current assets | 150,852 | 151,768 |
| Non-current assets | ||
| Property, plant and equipment | 201,020 | 205,613 |
| Investments | 2,656 | 2,656 |
| Goodwill | 54,942 | 55,918 |
| Intangibles | 30,778 | 32,275 |
| Deferred tax asset | 4,201 | 4,201 |
| Right-of-use assets | 11,944 | 12,596 |
| Other assets | 2,046 | 1,962 |
| Total assets | $458,439 | $466,989 |
| LIABILITIES | ||
| Current liabilities | ||
| Line of credit | $4,000 | $4,000 |
| Trade payables | 19,935 | 21,753 |
| Current maturities of long-term debt | 8,866 | 9,133 |
| Accrued sales taxes | 21,331 | 15,941 |
| Accrued loyalty program | 1,668 | 1,773 |
| Accrued liabilities | 12,024 | 15,076 |
| Lease liabilities - current | 2,243 | 2,112 |
| Income tax payable | 47 | 28 |
| Other current liabilities | 2,561 | 2,340 |
| Total current liabilities | 72,675 | 72,156 |
| Non-current liabilities | ||
| Long-term debt | 37,217 | 38,925 |
| Deferred tax liability | 23,553 | 23,730 |
| Lease liabilities - non-current | 10,534 | 11,335 |
| Other liabilities | 2,044 | 1,902 |
| Total liabilities | 146,023 | 148,048 |
| Commitments and contingencies | ||
| MEZZANINE EQUITY | ||
| Redeemable non-controlling interest | 15,627 | 15,667 |
| SHAREHOLDERS’ EQUITY | ||
| Common stock, no par value per share - unlimited shares authorized;110,248,929 shares issued and outstanding at March 31, 2024 and December 31, 2023. | 386,719 | 386,719 |
| Additional paid in capital | 26,016 | 25,611 |
| Accumulated other comprehensive loss | (7,503) | (3,540) |
| Retained earnings | (109,017) | (106,165) |
| Total Village Farms International, Inc. shareholders’ equity | 296,215 | 302,625 |
| Non-controlling interest | 574 | 649 |
| Total shareholders’ equity | 296,789 | 303,274 |
| Total liabilities, mezzanine equity and shareholders’ equity | $458,439 | $466,989 |
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