XML 16 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Total revenues $ 420,924 $ 428,966
Cost of sales:    
Total cost of sales 286,020 294,275
Operating, selling, administrative and general expenses 92,314 89,076
Litigation settlement and judgment income 0 (2,469)
Operating income 42,590 48,084
Other income (expenses):    
Interest expense (37,520) (45,947)
Change in fair value of derivatives embedded within convertible debt 10,349 10,567
Equity in losses from real estate ventures (2,439) (6,560)
Equity in earnings from investments 1,362 1,162
Net gains (losses) recognized on investment securities 4,773 (3,340)
Other, net 2,667 1,646
Income before provision for income taxes 21,782 5,612
Income tax expense 6,749 1,948
Net income 15,033 3,664
Net (income) loss attributed to non-controlling interest (80) 3,547
Net income attributed to Vector Group Ltd. $ 14,953 $ 7,211
Per basic common share:    
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) $ 0.09 $ 0.04
Per diluted common share:    
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) $ 0.08 $ 0.04
Tobacco    
Revenues:    
Total revenues [1] $ 256,756 $ 267,116
Cost of sales:    
Total cost of sales [1] 177,303 184,962
Real estate    
Revenues:    
Total revenues 164,168 161,850
Cost of sales:    
Total cost of sales $ 108,717 109,313
Litigation settlement and judgment income   $ 2,469
[1] Revenues and cost of sales include federal excise taxes of $104,633 and $112,801, respectively.