Condensed Consolidating Financial Information

12 Months Ended

Dec. 31, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidated Financial Information

CONDENSED CONSOLIDATING FINANCIAL INFORMATION

The accompanying condensed consolidating financial information has been prepared and presented pursuant to Securities and Exchange Commission ("SEC") Regulation S-X, Rule 3-10, “Financial Statements of Guarantors and Affiliates Whose Securities Collateralize an Issue Registered or Being Registered”. Each of the subsidiary guarantors is 100% owned, directly or indirectly, by the Company. The guarantees are subject to certain automatic release provisions. Relief from the financial statement requirements under Rule 3-10 is being provided because the Company's guarantee release provisions are considered customary pursuant to Section 2510.5 of the SEC Division of Corporation Finance Financial Reporting Manual. Such release provisions are as follows:

• the sale or other disposition of all or substantially all of the assets or all of the capital stock of any subsidiary guarantor; and

• the satisfaction of the requirements for legal defeasance or the satisfaction and discharge of the indenture.

The Company's investments in its consolidated subsidiaries are presented under the equity method of accounting.

The Company has outstanding $415,000 principal amount of its 11% Senior Secured Notes due 2015 that are guaranteed subject to certain customary automatic release provisions described above on a joint and several basis by all of the 100% owned domestic subsidiaries of the Company that are engaged in the conduct of its cigarette businesses. (See Note 7.) The notes are not guaranteed by any of the Company’s subsidiaries engaged in the real estate businesses conducted through its subsidiary New Valley LLC. Presented herein are Condensed Consolidating Balance Sheets as of December 31, 2011 and 2010 and the related Condensed Consolidating Statements of Operations and Cash Flows for the years ended December 31, 2011, 2010 and 2009 of Vector Group Ltd. (Parent/Issuer), the guarantor subsidiaries (Subsidiary Guarantors) and the subsidiaries that are not guarantors (Subsidiary Non-Guarantors). The Company does not believe that the separate financial statements and related footnote disclosures concerning the Guarantors would provide any additional information that would be material to investors making an investment decision.

The indenture contains covenants that restrict the payment of dividends by the Company if the Company’s consolidated earnings before interest, taxes, depreciation and amortization (“Consolidated EBITDA”), as defined in the indenture, for the most recently ended four full quarters is less than $50,000. The indenture also restricts the incurrence of debt if the Company’s Leverage Ratio and its Secured Leverage Ratio, as defined in the indenture, exceed 3.0 and 1.5, respectively. The Company’s Leverage Ratio is defined in the indenture as the ratio of the Company’s and the guaranteeing subsidiaries’ total debt less the fair market value of the Company’s cash, investments in marketable securities and long-term investments to Consolidated EBITDA, as defined in the indenture. The Company’s Secured Leverage Ratio is defined in the indenture in the same manner as the Leverage Ratio, except that secured indebtedness is substituted for indebtedness.

Certain revisions have been made to the Company's Condensed Consolidating Balance Sheet as of December 31, 2010 to conform to the 2011 presentation. The revisions decreased parent "Investment in consolidated subsidiaries" by $74,669, "Investment securities available for sale" by $29,753, "Other current assets" by $923, the asset “Deferred income taxes” by $4,206, the current liability, "Deferred income taxes," by $6,305, and the liability "Deferred income taxes" by $103,246. The revisions increased subsidiary guarantors' "Investment securities available for sale" by $29,753, "Other current assets" by $923 and the current liability, "Deferred Income taxes," by $6,305. The revisions decrease subsidiary guarantors' asset "Deferred income taxes" by $99,040 and "Stockholders' equity (deficiency)" by $74,669. The consolidating adjustments of $103,246 for each of the asset "Deferred income taxes" and the liability "Deferred income taxes" have been eliminated.

Certain revisions have been made to the Company's Condensed Consolidating Statement of Operations for the twelve months ended December 31, 2010 and 2009 to conform to the 2011 presentation. For the period ended December 31, 2010, the revisions increased parent “Income tax (expense) benefit” by $3,703 and decreased parent "Equity income in consolidated subsidiaries” by $11,982 and “Gain on investment securities available for sale” by $9,257. The revisions increased subsidiary guarantors' "Gain on investment securities available for sale” by $9,257 and decreased subsidiary guarantors' "Income tax (expense) benefit" by $21,239. The consolidating adjustment for “Income tax (expense) benefit” of $17,536 has been eliminated. For the period ended December 31, 2009, the revisions increased parent “Income tax (expense) benefit” by $91,265 and decreased parent "Equity income in consolidated subsidiaries” by $91,265. The revisions decreased subsidiary guarantors' “Income tax (expense) benefit” by $91,265.

Certain revisions have been made to the Company's Condensed Consolidating Statement of Cash Flows for the twelve months ended December 31, 2010 to conform to the 2011 presentation. The revisions increased parent “Net cash provided by (used in) operating activities” by $13,157 and "Purchase of investment securities" by $1,980 and decreased parent “Sale or maturity of investment securities” by $13,154 and "Investment in subsidiaries" by $1,983. The revisions increased subsidiary guarantors' "Sale or maturity of investment securities" by $13,154 and "Capital contributions received" by $1,983 and decreased subsidiary guarantors' “Net cash provided by (used in) operating activities” by $923 and "Purchase of investment securities" by $1,980 and “Intercompany dividends paid” by $1,980 and "Intercompany dividends paid" by $12,234. No changes were made to the Company's Condensed Consolidating Statement of Cash Flows for the twelve months ended December 31, 2009.

The Company's consolidated financial information as of and for the twelve months ended December 31, 2010 has not changed. The Company does not believe these revisions are material to the consolidating financial information as of December 31, 2010 or any prior periods' consolidating financial information.

CONDENSED CONSOLIDATED BALANCE SHEETS

	December 31, 2011
	Parent/ Issuer			Subsidiary Guarantors		Subsidiary Non- Guarantors		Consolidating Adjustments			Consolidated Vector Group Ltd.
ASSETS:
Current assets:
Cash and cash equivalents	$	238,262		$	2,488	$	173	$	—		$	240,923
Investment securities available for sale	50,401			26,085		—		—			76,486
Accounts receivable — trade	—			24,869		—		—			24,869
Intercompany receivables	64			—		—		(64		)	—
Inventories	—			109,228		—		—			109,228
Deferred income taxes	39,883			3,068		—		—			42,951
Income taxes receivable	47,484			4,984		—		(42,915		)	9,553
Restricted assets	—			1,474		—		—			1,474
Other current assets	565			3,498		194		—			4,257
Total current assets	376,659			175,694		367		(42,979		)	509,741
Property, plant and equipment, net	1,345			55,211		—		—			56,556
Investment in Escena, net	—			—		13,280		—			13,280
Long-term investments accounted for at cost	4,777			—		898		—			5,675
Long-term investments accounted for under the equity method	16,499			—		—		—			16,499
Investments in non- consolidated real estate businesses	—			—		124,469		—			124,469
Investments in consolidated subsidiaries	211,219			—		—		(211,219		)	—
Restricted assets	2,161			7,465		—		—			9,626
Deferred income taxes	18,564			6,412		6,041		—			31,017
Intangible asset	—			107,511		—		—			107,511
Prepaid pension costs	—			10,047		—		—			10,047
Other assets	28,108			15,239		—		—			43,347
Total assets	$	659,332		$	377,579	$	145,055	$	(254,198	)	$	927,768
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY:
Current liabilities:
Current portion of notes payable and long-term debt	$	16,052		$	34,651	$	141	$	—		$	50,844
Current portion of fair value of derivatives embedded within convertible debt	84,485			—		—		—			84,485
Current portion of employee benefits	—			2,690		—		—			2,690
Accounts payable	1,040			8,321		171		—			9,532
Intercompany payables	—			64		—		(64		)	—
Accrued promotional expenses	—			17,056		—		—			17,056
Income taxes payable, net	6,597			—		42,915		(42,915		)	6,597
Accrued excise and payroll taxes payable, net	—			17,992		—		—			17,992
Litigation accruals and current payments due under the Master Settlement Agreement	—			52,725		—		—			52,725
Deferred income taxes	32,558			3,327		—		—			35,885
Accrued interest	20,888			—		—		—			20,888
Other current liabilities	6,683			9,079		742		—			16,504
Total current liabilities	168,303			145,905		43,969		(42,979		)	315,198
Notes payable, long-term debt and other obligations, less current portion	479,199			13,941		216		—			493,356
Fair value of derivatives embedded within convertible debt	49,015			—		—		—			49,015
Non-current employee benefits	23,023			22,959		—		—			45,982
Deferred income taxes	27,970			30,135		2,537		—			60,642
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	852			51,010		743		—			52,605
Total liabilities	748,362			263,950		47,465		(42,979		)	1,016,798
Commitments and contingencies	—			—		—		—			—
Stockholders’ deficiency	(89,030		)	113,629		97,590		(211,219		)	(89,030		)
Total liabilities and stockholders’ deficiency	$	659,332		$	377,579	$	145,055	$	(254,198	)	$	927,768

CONDENSED CONSOLIDATED BALANCE SHEETS

	December 31, 2010
	Parent/ Issuer			Subsidiary Guarantors		Subsidiary Non- Guarantors		Consolidating Adjustments			Consolidated Vector Group Ltd.
ASSETS:
Current assets:
Cash and cash equivalents	$	283,409		$	16,214	$	202	$	—		$	299,825
Investment securities available for sale	49,001			29,753		—		—			78,754
Accounts receivable — trade	—			1,846		3		—			1,849
Intercompany receivables	62			—		—		(62		)	—
Inventories	—			107,079		—		—			107,079
Deferred income taxes	27,470			4,316		—		—			31,786
Income taxes receivable	51,260			—		—		(51,260		)	—
Restricted assets	—			2,310		351		—			2,661
Other current assets	406			4,258		145		—			4,809
Total current assets	411,608			165,776		701		(51,322		)	526,763
Property, plant and equipment, net	609			54,803		—		—			55,412
Investment in Escena, net	—			—		13,354		—			13,354
Long-term investments accounted for at cost	45,134			—		899		—			46,033
Investments in non- consolidated real estate businesses	10,954			—		—		—			10,954
Investments in non- consolidated real estate businesses	—			—		80,416		—			80,416
Investment in townhomes	—			—		16,275		—			16,275
Investments in consolidated subsidiaries	184,925			—		—		(184,925		)	—
Restricted assets	2,673			6,021		—		—			8,694
Deferred income taxes	18,536			7,281		12,011		—			37,828
Intangible asset	—			107,511		—		—			107,511
Prepaid pension costs	—			13,935		—		—			13,935
Other assets	17,710			14,710		—		—			32,420
Total assets	$	692,149		$	370,037	$	123,656	$	(236,247	)	$	949,595
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY:
Current liabilities:
Current portion of notes payable and long-term debt	$	11,000		$	40,222	$	123	$	—		$	51,345
Current portion of fair value of derivatives embedded within convertible debt	480			—		—		—			480
Current portion of employee benefits	—			1,014		—		—			1,014
Accounts payable	1,098			6,405		1,524		—			9,027
Intercompany payables	—			62		—		(62		)	—
Accrued promotional expenses	—			14,327		—		—			14,327
Income taxes payable, net	—			20,719		42,158		(51,260		)	11,617
Accrued excise and payroll taxes payable, net	—			18,523		—		—			18,523
Litigation accruals and current payments due under the Master Settlement Agreement	—			48,071		—		—			48,071
Deferred income taxes	28,317			8,646		—		—			36,963
Accrued interest	20,824			—		—		—			20,824
Other current liabilities	6,530			7,670		481		—			14,681
Total current liabilities	68,249			165,659		44,286		(51,322		)	226,872
Notes payable, long-term debt and other obligations, less current portion	484,675			21,020		357		—			506,052
Fair value of derivatives embedded within convertible debt	141,012			—		—		—			141,012
Non-current employee benefits	21,047			17,695		—		—			38,742
Deferred income taxes	23,262			28,118		435		—			51,815
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	138			30,520		678		—			31,336
Total liabilities	738,383			263,012		45,756		(51,322		)	995,829
Commitments and contingencies	—			—		—		—			—
Stockholders’ deficiency	(46,234		)	107,025		77,900		(184,925		)	(46,234		)
Total liabilities and stockholders’ deficiency	$	692,149		$	370,037	$	123,656	$	(236,247	)	$	949,595

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

	Year Ended December 31, 2011
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Revenues	$	—		$	1,133,380		$	—		$	—		$	1,133,380
Expenses:
Cost of goods sold	—			892,883			—			—			892,883
Operating, selling, administrative and general expenses	25,318			69,827			2,031			—			97,176
Litigation judgment expense	—			—			—			—			—
Management fee expense	—			8,834			—			(8,834		)	—
Operating (loss) income	(25,318		)	161,836			(2,031		)	8,834			143,321
Other income (expenses):
Interest expense	(97,888		)	(2,786		)	(32		)	—			(100,706		)
Changes in fair value of derivatives embedded within convertible debt	7,984			—			—			—			7,984
Loss on extinguishment of debt	(1,217		)	—			—			—			(1,217		)
Gain on liquidation of long-term investments	25,832			—			—			—			25,832
Equity loss on long-term investments	(859		)	—			—			—			(859		)
Gain on sale of investment securities available for sale	—			23,257			—			—			23,257
Equity income on non-consolidated real estate businesses	—			—			19,966			—			19,966
Gain on sale of townhomes	—			—			3,843			—			3,843
Equity income in consolidated subsidiaries	127,103			—			—			(127,103		)	—
Management fee income	8,834			—			—			(8,834		)	—
Other, net	1,675			61			—			—			1,736
Income before provision for income taxes	46,146			182,368			21,746			(127,103		)	123,157
Income tax benefit (expense)	28,874			(68,182		)	(8,829		)	—			(48,137		)
Net income	$	75,020		$	114,186		$	12,917		$	(127,103	)	$	75,020

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

	Year Ended December 31, 2010
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Revenues	$	—		$	1,063,289		$	—		$	—		$	1,063,289
Expenses:
Cost of goods sold	—			845,106			—			—			845,106
Operating, selling, administrative and general expenses	21,842			67,939			928			—			90,709
Litigation judgment expense	—			16,161			—			—			16,161
Management fee expense	—			8,521			—			(8,521		)	—
Operating income (loss)	(21,842		)	125,562			(928		)	8,521			111,313
Other income (expenses):
Interest expense	(82,828		)	(1,227		)	(41		)	—			(84,096		)
Changes in fair value of derivatives embedded within convertible debt	11,524			—			—			—			11,524
Equity income on long-term investments	1,489			—			—			—			1,489
Gain on investment securities available for sale	10,612			9,257			—			—			19,869
Equity income from non-consolidated real estate businesses	—			—			23,963			—			23,963
Equity income in consolidated subsidiaries	91,715			—			—			(91,715		)	—
Management fee income	8,521			—			—			(8,521		)	—
Other, net	1,469			39			—			—			1,508
Income (loss) before provision for income taxes	20,660			133,631			22,994			(91,715		)	85,570
Income tax benefit (expense)	33,424			(55,713		)	(9,197		)	—			(31,486		)
Net income	$	54,084		$	77,918		$	13,797		$	(91,715	)	$	54,084

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

	Year Ended December 31, 2009
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Revenues	$	—		$	801,494		$	—		$	—		$	801,494
Expenses:
Cost of goods sold	—			577,386			—			—			577,386
Operating, selling, administrative and general expenses	20,679			63,277			1,085			—			85,041
Gain on brand transaction	—			(5,000		)	—			—			(5,000		)
Restructuring charges	—			900			—			—			900
Management fee expense	—			8,223			—			(8,223		)	—
Operating income (loss)	(20,679		)	156,708			(1,085		)	8,223			143,167
Other income (expenses):
Interest expense	(67,420		)	(1,048		)	(22		)	—			(68,490		)
Changes in fair value of derivatives embedded within convertible debt	(35,925		)	—			—			—			(35,925		)
Loss on extinguishment of debt	(18,573		)	—			—			—			(18,573		)
Provision for loss on investments	—			—			(8,500		)	—			(8,500		)
Equity income from non-consolidated real estate businesses	—			—			15,213			—			15,213
Equity income in consolidated subsidiaries	105,091			—			—			(105,091		)	—
Management fee income	8,223			—			—			(8,223		)	—
Other, net	1,540			105			—			—			1,645
Income before provision for income taxes	(27,743		)	155,765			5,606			(105,091		)	28,537
Income tax benefit (expense)	52,549			(54,004		)	(2,276		)	—			(3,731		)
Net income	$	24,806		$	101,761		$	3,330		$	(105,091	)	$	24,806

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Year Ended December 31, 2011
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Net cash provided by (used in) operating activities	$	67,588		$	101,223		$	7,352		$	(140,122	)	$	36,041
Cash flows from investing activities:
Sale or maturity of investment securities	—			31,643			—			—			31,643
Purchase of investment securities	—			(5,039		)	—			—			(5,039		)
Proceeds from sale of or liquidation of long-term investments	66,190			—			—			—			66,190
Purchase of long-term investment	(10,000		)	—			—			—			(10,000		)
Proceeds from the sale of townhomes	—			—			19,629			—			19,629
Decrease in non-current restricted assets	512			(608		)	—			—			(96		)
Investment in non- consolidated real estate businesses	—			—			(41,859		)	—			(41,859		)
Distributions from non-consolidated real estate businesses	—			—			8,450			—			8,450
Issuance of notes receivable	(15,256		)	—			—			—			(15,256		)
Investments in subsidiaries	(29,565		)	—			—			29,565			—
Proceeds from sale of fixed assets	—			196			9			—			205
Capital expenditures	(852		)	(10,725		)	(261		)	—			(11,838		)
Increase in cash surrender value of life insurance policies	(315		)	(429		)	—			—			(744		)
Net cash provided by investing activities	10,714			15,038			(14,032		)	29,565			41,285
Cash flows from financing activities:
Proceeds from debt issuance	—			6,419			—			—			6,419
Repayments of debt	—			(4,838		)	(122		)	—			(4,960		)
Borrowings under revolver	—			1,064,270			—			—			1,064,270
Repayments on revolver	—			(1,078,508		)	—			—			(1,078,508		)
Capital contributions received	—			3,720			25,845			(29,565		)	—
Intercompany dividends paid	—			(121,050		)	(19,072		)	140,122			—
Dividends and distributions on common stock	(125,299		)	—			—			—			(125,299		)
Proceeds from exercise of Vector options	1,029			—			—			—			1,029
Tax benefits from exercise of Vector options	821			—			—			—			821
Net cash (used in) provided by financing activities	(123,449		)	(129,987		)	6,651			110,557			(136,228		)
Net decrease in cash and cash equivalents	(45,147		)	(13,726		)	(29		)	—			(58,902		)
Cash and cash equivalents, beginning of period	283,409			16,214			202			—			299,825
Cash and cash equivalents, end of period	$	238,262		$	2,488		$	173		$	—		$	240,923

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Year Ended December 31, 2010
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Net cash provided by (used in) operating activities	$	58,329		$	165,095		$	(2,164	)	$	(154,256	)	$	67,004
Cash flows from investing activities:
Proceeds from sale or maturity of investment securities	15,433			13,154			—			—			28,587
Purchase of investment securities	(7,414		)	(1,980		)	—			—			(9,394		)
Proceeds from sale or liquidation of long-term investments	1,002			—			—			—			1,002
Purchase of long-term investments	(5,000		)	—			(62		)	—			(5,062		)
Purchase of Aberdeen mortgages	(13,462		)	—			—			—			(13,462		)
Decrease (increase) in non-current restricted assets	363			(1,112		)	(351		)	—			(1,100		)
Investment in non-consolidated real estate businesses	—			—			(24,645		)	—			(24,645		)
Distributions from non-consolidated real estate businesses	—			—			3,539			—			3,539
Issuance of notes receivable	(930		)	—			—			—			(930		)
Cash acquired in Aberdeen consolidation	—			—			473			—			473
Proceeds from sale of fixed assets	—			187			—			—			187
Investments in subsidiaries	(12,530		)	—			—			12,530			—
Capital expenditures	—			(23,073		)	(318		)	—			(23,391		)
Increase in cash surrender value of life insurance policies	(513		)	(423		)	—			—			(936		)
Net cash (used in) provided by investing activities	(23,051		)	(13,247		)	(21,364		)	12,530			(45,132		)
Cash flows from financing activities:
Proceeds from debt issuance	165,000			20,714			—			—			185,714
Repayments of debt	—			(14,424		)	(115		)	—			(14,539		)
Deferred financing charges	(5,077		)	—			—			—			(5,077		)
Borrowings under revolver	—			1,034,924			—			—			1,034,924
Repayments on revolver	—			(1,016,598		)	—			—			(1,016,598		)
Capital contributions received	—			12,530			—			(12,530		)	—
Intercompany dividends paid	—			(177,784		)	23,528			154,256			—
Dividends and distributions on common stock	(117,459		)	—			—			—			(117,459		)
Proceeds from exercise of Vector options	1,265			—			—			—			1,265
Excess tax benefit of options exercised	269			—			—			—			269
Net cash provided by (used in) financing activities	43,998			(140,638		)	23,413			141,726			68,499
Net increase (decrease) in cash and cash equivalents	79,276			11,210			(115		)	—			90,371
Cash and cash equivalents, beginning of period	204,133			5,004			317			—			209,454
Cash and cash equivalents, end of period	$	283,409		$	16,214		$	202		$	—		$	299,825

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Year Ended December 31, 2009
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Net cash provided by (used in) operating activities	$	10,517		$	80,572		$	5,547		$	(90,969	)	$	5,667
Cash flows from investing activities:
Proceeds from sale or maturity of investment securities	—			—			78			—			78
Purchase of investment securities	(12,427		)	—			—			—			(12,427		)
Proceeds from sale or liquidation of long-term investments	2,254			—			—			—			2,254
Purchase of long-term investments	—			—			(51		)	—			(51		)
Decrease in non-current restricted assets	1,160			560			—			—			1,720
Purchase of mortgage receivable	—			—			(474		)	—			(474		)
Distributions from non-consolidated real estate businesses	—			—			6,730			—			6,730
Proceeds from sale of businesses and assets	—			41			—			—			41
Investments in subsidiaries	(3,800		)	—			—			3,800			—
Capital expenditures	—			(2,734		)	(1,114		)	—			(3,848		)
Increase in cash surrender value of life insurance policies	(413		)	(426		)	—			—			(839		)
Net cash (used in) provided by investing activities	(13,226		)	(2,559		)	5,169			3,800			(6,816		)
Cash flows from financing activities:
Proceeds from debt	118,125			35			645			—			118,805
Repayments of debt	(360		)	(5,769		)	(50		)	—			(6,179		)
Deferred financing charges	(5,567		)	(6		)	—			—			(5,573		)
Borrowings under revolver	—			749,474			—			—			749,474
Repayments on revolver	—			(751,607		)	—			—			(751,607		)
Capital contributions received	—			3,800			—			(3,800		)	—
Intercompany dividends paid	—			(79,975		)	(10,994		)	90,969			—
Dividends and distributions on common stock	(115,778		)	—			—			—			(115,778		)
Proceeds from exercise of Vector options	1,194			—			—			—			1,194
Excess tax benefit of options exercised	9,162			—			—			—			9,162
Net cash provided by (used in) financing activities	6,776			(84,048		)	(10,399		)	87,169			(502		)
Net increase (decrease) in cash and cash equivalents	4,067			(6,035		)	317			—			(1,651		)
Cash and cash equivalents, beginning of period	200,066			11,039			—			—			211,105
Cash and cash equivalents, end of period	$	204,133		$	5,004		$	317		$	—		$	209,454