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Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Financial Information of Reportable Segments

The tables below present financial information about reported segments:

	Three Months Ended March 31,
	2022			2021

Net sales
Zig-Zag products	$	45,672		$	41,004
Stoker’s products		31,703			29,255
NewGen products		23,519			37,382
Total	$	100,894		$	107,641

Gross profit
Zig-Zag products	$	26,343		$	24,896
Stoker’s products		17,686			15,892
NewGen products		7,765			12,473
Total	$	51,794		$	53,261

Operating income (loss)
Zig-Zag products	$	18,737		$	19,437
Stoker’s products		13,506			12,255
NewGen products		678			2,006
Corporate unallocated ⁽¹⁾⁽²⁾		(13,692	)		(9,349	)
Total	$	19,229		$	24,349

Interest expense, net		5,196			4,486
Investment income		(78	)		(25	)
Loss on extinguishment of debt		-			5,706
Income before income taxes	$	14,111		$	14,182

Capital expenditures
Zig-Zag products	$	2,323		$	-
Stoker’s products		464			840
NewGen products		-			2
Total	$	2,787		$	842

Depreciation and amortization
Zig-Zag products	$	92		$	114
Stoker’s products		767			635
NewGen products		475			516
Total	$	1,334		$	1,265

(1)	Includes corporate costs that are not allocated to any of the three reportable segments.

(2)	Includes costs related to PMTA of $1.1 million in 2022 and $0.3 million in 2021.

	March 31, 2022		December 31, 2021
Assets
Zig-Zag products	$	227,989	$	227,554
Stoker’s products		172,400		142,334
NewGen products		61,529		72,746
Corporate unallocated ⁽¹⁾		156,785		158,926
Total	$	618,703	$	601,560

(1)	Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments.

Revenue Disaggregation - Sales Channel

Revenues of the Zig-Zag Products and Stoker’s Products segments are primarily comprised of sales made to wholesalers while NewGen sales are made business to business and business to consumer, both online and through our corporate retail stores. NewGen net sales are broken out by sales channel below.

	NewGen Segment
	Three Months Ended March 31,
	2022		2021

Business to Business	$	19,124	$	27,257
Business to Consumer - Online		4,233		10,033
Other		162		92
Total	$	23,519	$	37,382

Net Sales - Domestic and Foreign

The following table shows a breakdown of consolidated net sales between domestic and foreign customers.

	Three Months Ended March 31,
	2022		2021
Domestic	$	93,766	$	100,127
Foreign		7,128		7,514
Total	$	100,894	$	107,641