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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue $ 184,165 $ 157,797 $ 402,852 $ 342,199
Costs 118,778 99,400 260,964 216,734
Gross Margin 65,387 58,397 141,888 125,465
Selling, marketing and administrative expenses 35,743 32,868 94,930 78,699
Earnings from operations 29,644 25,529 46,958 46,766
Other income (loss), net 1,750 5,863 11,810 10,096
Earnings before income taxes 31,394 31,392 58,768 56,862
Provision for income taxes 6,675 6,729 13,494 12,841
Net earnings 24,719 24,663 45,274 44,021
Less: net earnings (loss) attributable to noncontrolling interests (14) (10) (20) (22)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 24,733 $ 24,673 $ 45,294 $ 44,043
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 0.37 $ 0.36 $ 0.67 $ 0.64
Dividends per share (in dollars per share) [1] $ 0.09 $ 0.09 $ 0.27 $ 0.27
Average number of shares outstanding (in shares) 67,244 68,393 67,549 68,627
Product        
Revenue $ 183,090 $ 156,962 $ 399,445 $ 339,561
Costs 118,446 99,187 259,959 216,009
Gross Margin 64,644 57,775 139,486 123,552
Rental and Royalty        
Revenue 1,075 835 3,407 2,638
Costs 332 213 1,005 725
Gross Margin $ 743 $ 622 $ 2,402 $ 1,913
[1] Does not include 3% stock dividend to shareholders of record on 3/5/21 and 3/3/20.