XML 18 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Total revenues $ 547,831 $ 504,790 $ 1,448,079 $ 1,464,146
Cost of sales:        
Total cost of sales 374,575 345,456 990,083 999,650
Operating, selling, administrative and general expenses 77,019 92,374 238,600 278,047
Litigation settlement and judgment expense 0 240 53 895
Impairments of goodwill and intangible assets 0 0 58,252 0
Restructuring charges 320 0 3,281 0
Operating income 95,917 66,720 157,810 185,554
Other income (expenses):        
Interest expense (28,163) (32,963) (93,148) (103,236)
Change in fair value of derivatives embedded within convertible debt 0 6,182 4,999 20,319
Equity in earnings (losses) from investments 1,840 (468) 54,199 (791)
Equity in (losses) earnings from real estate ventures (8,536) 8,050 (27,301) 12,002
Other, net (5,096) 2,223 (8,116) 14,444
Income before provision for income taxes 55,962 49,744 88,443 128,292
Income tax expense 17,823 13,736 27,761 37,944
Net income 38,139 36,008 60,682 90,348
Net income attributed to non-controlling interest 0 0 0 (80)
Net income attributed to Vector Group Ltd. $ 38,139 $ 36,008 $ 60,682 $ 90,268
Per basic common share:        
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) $ 0.25 $ 0.23 $ 0.39 $ 0.57
Per diluted common share:        
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) $ 0.25 $ 0.23 $ 0.39 $ 0.56
Tobacco        
Revenues:        
Tobacco [1] $ 318,850 $ 303,260 $ 918,429 $ 854,517
Total revenues 318,850   918,429  
Cost of sales:        
Total cost of sales [1] 204,101 209,192 615,458 590,956
Real estate        
Revenues:        
Real estate 228,981 201,530 529,650 609,629
Cost of sales:        
Total cost of sales $ 170,474 $ 136,264 $ 374,625 $ 408,694
[1] Revenues and cost of sales include federal excise taxes of $120,320, $122,951, $354,629, and $347,527, respectively.