Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEETS

				March 31, 2012
						Subsidiary					Consolidated
	Parent/			Subsidiary		Non-		Consolidating			Vector Group
	Issuer			Guarantors		Guarantors		Adjustments			Ltd.
ASSETS:
Current assets:
Cash and cash equivalents	$	191,537		$	27,274	$	740	$	—		$	219,551
Investment securities available for sale	40,726			24,516		—		—			65,242
Accounts receivable - trade	—			10,811		1		—			10,812
Intercompany receivables	149			—		—		(149		)	—
Inventories	—			108,682		1		—			108,683
Deferred income taxes	39,956			3,186		—		—			43,142
Income taxes receivable, net	25,020			21,755		—		(36,643		)	10,132
Restricted assets	—			1,474		—		—			1,474
Other current assets	610			3,693		197		—			4,500
Total current assets	297,998			201,391		939		(36,792		)	463,536
Property, plant and equipment, net	2,023			54,019		—		—			56,042
Investment in Escena, net	—			—		13,236		—			13,236
Long-term investments accounted for at cost	4,777			—		898		—			5,675
Long-term investments accounted for under the equity method	24,431			—		—		—			24,431
Investments in non- consolidated real estate businesses	—			—		124,292		—			124,292
Investments in consolidated subsidiaries	227,968			—		—		(227,968		)	—
Restricted assets	1,890			6,450		—		—			8,340
Deferred income taxes	18,826			5,459		5,868		—			30,153
Intangible asset	—			107,511		—		—			107,511
Prepaid pension costs	—			10,421		—		—			10,421
Other assets	26,928			15,517		—		—			42,445
Total assets	$	604,841		$	400,768	$	145,233	$	(264,760	)	$	886,082
LIABILITIES AND STOCKHOLDERS' DEFICIENCY:
Current liabilities:
Current portion of notes payable and long-term debt	$	15,987		$	8,351	$	146	$	—		$	24,484
Current portion of fair value of derivatives embedded within convertible debt	106,191			—		—		—			106,191
Current portion of employee benefits	—			2,706		—		—			2,706
Accounts payable	282			4,236		118		—			4,636
Intercompany payables	—			149		—		(149		)	—
Accrued promotional expenses	—			15,891		—		—			15,891
Income taxes payable, net	—			—		43,350		(36,643		)	6,707
Accrued excise and payroll taxes payable, net	—			18,942		—		—			18,942
Litigation accruals and current payments due under the Master Settlement Agreement	—			86,536		—		—			86,536
Deferred income taxes	27,948			2,962		—		—			30,910
Accrued interest	9,475			—		—		—			9,475
Other current liabilities	3,745			7,116		608		—			11,469
Total current liabilities	163,628			146,889		44,222		(36,792		)	317,947
Notes payable, long-term debt and other obligations, less current portion	482,699			17,198		179		—			500,076
Fair value of derivatives embedded within convertible debt	48,364			—		—		—			48,364
Non-current employee benefits	23,340			22,825		—		—			46,165
Deferred income taxes	18,407			31,298		3,041		—			52,746
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	1,072			51,654		727		—			53,453
Total liabilities	737,510			269,864		48,169		(36,792		)	1,018,751
Commitments and contingencies
Stockholders' deficiency	(132,669		)	130,904		97,064		(227,968		)	(132,669		)
Total liabilities and stockholders' deficiency	$	604,841		$	400,768	$	145,233	$	(264,760	)	$	886,082

CONDENSED CONSOLIDATING BALANCE SHEETS

				December 31, 2011
						Subsidiary					Consolidated
	Parent/			Subsidiary		Non-		Consolidating			Vector Group
	Issuer			Guarantors		Guarantors		Adjustments			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, net	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

Schedule of Condensed Income Statement

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

				Three Months Ended March 31, 2012
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Revenues	$	—		$	257,606		$	—		$	—		$	257,606
Expenses:
Cost of goods sold	—			200,181			—			—			200,181
Operating, selling, administrative and general expenses	6,261			18,204			(486		)	—			23,979
Management fee expense	—			2,291			—			(2,291		)	—
Operating (loss) income	(6,261		)	36,930			486			2,291			33,446
Other income (expenses):
Interest expense	(24,909		)	(1,336		)	(7		)	—			(26,252		)
Changes in fair value of derivatives embedded within convertible debt	(21,057		)	—			—			—			(21,057		)
Gain on extinquishment of debt	2			—			—			—			2
Equity income from non-consolidated real estate businesses	—			—			2,863			—			2,863
Equity loss on long-term investments	(114		)	—			—			—			(114		)
Equity income in consolidated subsidiaries	24,618			—			—			(24,618		)	—
Management fee income	2,291			—			—			(2,291		)	—
Other, net	(97		)	27			—			—			(70		)
(Loss) income before provision for income taxes	(25,527		)	35,621			3,342			(24,618		)	(11,182		)
Income tax benefit (expense)	17,837			(13,233		)	(1,112		)	—			3,492
Net (loss) income	(7,690		)	22,388			2,230			(24,618		)	(7,690		)
Comprehensive (loss) income	$	(12,033	)	$	21,764		$	2,230		$	(23,994	)	$	(12,033	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

				Three Months Ended March 31, 2011
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Revenues	$	—		$	260,378		$	—		$	—		$	260,378
Expenses:
Cost of goods sold	—			205,177			—			—			205,177
Operating, selling, administrative and general expenses	6,330			17,552			(157		)	—			23,725
Management fee expense	—			2,208			—			(2,208		)	—
Operating (loss) income	(6,330		)	35,441			157			2,208			31,476
Other income (expenses):
Interest expense	(24,486		)	(433		)	(9		)	—			(24,928		)
Changes in fair value of derivatives embedded within convertible debt	(575		)	—			—			—			(575		)
Equity income from non-consolidated real estate businesses	—			—			4,904			—			4,904
Equity income on long-term investments	763			—			—			—			763
Gain on sale of investment securities available for sale	—			13,035			—			—			13,035
Gain on liquidation of long-term investment	4,136			—			—			—			4,136
Gain on sale of townhome	—			—			3,135			—			3,135
Equity income in consolidated subsidiaries	33,980			—			—			(33,980		)	—
Management fee income	2,208			—			—			(2,208		)	—
Other, net	66			10			—			—			76
Income before provision for income taxes	9,762			48,053			8,187			(33,980		)	32,022
Income tax benefit (expense)	9,611			(18,985		)	(3,275		)	—			(12,649		)
Net income	19,373			29,068			4,912			(33,980		)	19,373
Comprehensive income	$	14,850		$	24,631		$	4,912		$	(29,543	)	$	14,850

Schedule of Condensed Cash Flow Statement

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

				Three Months Ended March 31, 2012
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Net cash (used in) provided by operating activities	$	(7,184	)	$	53,892		$	2,682		$	(8,814	)	$	40,576
Cash flows from investing activities:
Purchase of long-term investments	(5,000		)	—			—			—			(5,000		)
Investments in non-consolidated real estate businesses	—			—			(25		)	—			(25		)
Distributions from non-consolidated real estate businesses	—			—			740			—			740
Increase in cash surrender value of life insurance policies	(425		)	(47		)	—			—			(472		)
Decrease in restricted assets	271			1,015			—			—			1,286
Issuance of notes receivable	(43		)	—			—			—			(43		)
Investments in subsidiaries	(658		)	—			—			658			—
Proceeds from sale of fixed assets	—			11			—			—			11
Capital expenditures	(759		)	(1,442		)	(42		)	—			(2,243		)
Net cash (used in) provided by investing activities	(6,614		)	(463		)	673			658			(5,746		)
Cash flows from financing activities:
Proceeds from debt issuance	—			9,870			—			—			9,870
Deferred financing costs	—			(150		)	—			—			(150		)
Repayments of debt	—			(11,494		)	(32		)	—			(11,526		)
Borrowings under revolver	—			236,595			—			—			236,595
Repayments on revolver	—			(258,064		)	—			—			(258,064		)
Capital contributions received	—			600			58			(658		)	—
Intercompany dividends paid	—			(6,000		)	(2,814		)	8,814			—
Dividends and distributions on common stock	(32,975		)	—			—			—			(32,975		)
Proceeds from exercise of Vector options	44			—			—			—			44
Tax benefit of options exercised	4			—			—			—			4
Net cash (used in) provided by financing activities	(32,927		)	(28,643		)	(2,788		)	8,156			(56,202		)
Net (decrease) increase in cash and cash equivalents	(46,725		)	24,786			567			—			(21,372		)
Cash and cash equivalents, beginning of period	238,262			2,488			173			—			240,923
Cash and cash equivalents, end of period	$	191,537		$	27,274		$	740		$	—		$	219,551

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

				Three Months Ended March 31, 2011
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Net cash provided by (used in) operating activities	$	10,006		$	49,780		$	595		$	(59,827	)	$	554
Cash flows from investing activities:
Sale of investment securities	—			17,792			—			—			17,792
Purchase of investment securities	—			(1,788		)	—			—			(1,788		)
Proceeds from sale of or liquidation of long-term investments	8,886			—			—			—			8,886
Investments in non-consolidated real estate businesses	—			—			(1,672		)	—			(1,672		)
Proceeds from sale of townhome	—			—			11,635			—			11,635
Distributions from non-consolidated real estate businesses	—			—			2,165			—			2,165
Increase in cash surrender value of life insurance policies	(286		)	(119		)	—			—			(405		)
Decrease in restricted assets	543			48			240			—			831
Issuance of notes receivable	(91		)	—			—			—			(91		)
Investments in subsidiaries	(2,328		)	—			—			2,328			—
Capital expenditures	(11		)	(2,617		)	(33		)	—			(2,661		)
Net cash provided by investing activities	6,713			13,316			12,335			2,328			34,692
Cash flows from financing activities:
Proceeds from debt issuance	6			54			373			—			433
Deferred financing costs	—			—			—			—			—
Repayments of debt	—			(1,038		)	(406		)	—			(1,444		)
Borrowings under revolver	—			216,843			—			—			216,843
Repayments on revolver	—			(244,076		)	—			—			(244,076		)
Capital contributions received	—			2,288			40			(2,328		)	—
Intercompany dividends paid	—			(47,592		)	(12,235		)	59,827			—
Dividends and distributions on common stock	(31,076		)	—			—			—			(31,076		)
Tax benefits from exercise of Vector options and warrants	665			—			—			—			665
Net cash (used in) provided by financing activities	(30,405		)	(73,521		)	(12,228		)	57,499			(58,655		)
Net (decrease) increase in cash and cash equivalents	(13,686		)	(10,425		)	702			—			(23,409		)
Cash and cash equivalents, beginning of period	283,409			16,214			202			—			299,825
Cash and cash equivalents, end of period	$	269,723		$	5,789		$	904		$	—		$	276,416