Segment Information

12 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company’s significant business segments for the three years ended December 31, 2012 were Tobacco and Real Estate. The Tobacco segment consists of the manufacture and sale of cigarettes. The Real Estate segment includes the Company’s investment in Escena, Aberdeen and investments in non-consolidated real estate businesses. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

Financial information for the Company’s operations before taxes and minority interests for the years ended December 31, 2012, 2011 and 2010 follows:

	Tobacco			Real Estate				Corporate and Other			Total
2012
Revenues	$	1,084,546		$	—			$	—		$	1,084,546
Operating income (loss)	176,017			(2,013		)		(19,071		)	154,933
Equity income from non-consolidated real estate businesses	—			29,764				—			29,764
Identifiable assets	426,027			139,940			(2)	520,764			1,086,731
Depreciation and amortization	9,759			414				435			10,608
Capital expenditures	9,339			406				1,520			11,265
2011
Revenues	$	1,133,380		$	—			$	—		$	1,133,380
Operating income (loss)	164,581			(1,929		)		(19,331		)	143,321
Equity income from non-consolidated real estate businesses	—			19,966				—			19,966
Identifiable assets	440,564			138,096			(2)	349,108			927,768
Depreciation and amortization	9,118			326				1,163			10,607
Capital expenditures	10,725			252				861			11,838
2010
Revenues	$	1,063,289		$	—			$	—		$	1,063,289
Operating income (loss)	130,157		(1)	(631		)		(18,213		)	111,313
Equity income from non-consolidated real estate businesses	—			23,963				—			23,963
Identifiable assets	434,842			110,532			(2)	404,221			949,595
Depreciation and amortization	8,179			298				2,313			10,790
Capital expenditures	23,073			226				92			23,391

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(1) Operating income includes litigation judgment expense of $16,161 and a $3,000 settlement charge.

(2) Includes investments accounted for under the equity method of accounting of $125,651, $140,968 and $86,333 as of December 31, 2012, 2011 and 2010, respectively.