Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company's significant business segments for the three and six months ended June 30, 2014 and 2013 were Tobacco and Real Estate. The Tobacco segment consists of the manufacture and sale of conventional cigarettes. The Real Estate segment includes the Company’s investment in New Valley LLC, which includes Douglas Elliman, Escena, Indian Creek and investments in non-consolidated real estate businesses. Corporate and other includes the operations of the Company's e-cigarette business ("Zoom"). 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 for the three and six months ended June 30, 2014 and 2013 follows:

					Real			Corporate
	Tobacco				Estate			and Other			Total
Three months ended June 30, 2014
Revenues	$	250,556			$	153,488		$	2,569		$	406,613
Operating income (loss)	51,506		(1	)	15,901			(7,099		)	60,308
Equity loss from non-consolidated real estate businesses	—				(1,808		)	—			(1,808		)
Depreciation and amortization	2,588				2,622			252			5,462
Three months ended June 30, 2013
Revenues	$	249,120			$	7,106		$	—		$	256,226
Operating income (loss)	48,294		(2)		(407		)	(3,647		)	44,240
Equity income from non-consolidated real estate businesses	—				6,804			—			6,804
Depreciation and amortization	2,368				152			117			2,637
Six months ended June 30, 2014
Revenues	$	483,948			$	261,532		$	8,369		$	753,849
Operating income (loss)	94,402		(3	)	20,645			(12,017		)	103,030
Equity loss from non-consolidated real estate businesses	—				(256		)	—			(256		)
Depreciation and amortization	5,081				6,969			504			12,554
Capital expenditures	6,563				3,570			11			10,144
Six months ended June 30, 2013
Revenues	$	489,522			$	12,873		$	—		$	502,395
Operating income (loss)	95,454		(4)		(321		)	(7,797		)	87,336
Equity income from non-consolidated real estate businesses	—				7,285			—			7,285
Depreciation and amortization	4,753				280			200			5,233
Capital expenditures	3,319				429			2,247			5,995

⁽¹⁾ Operating income includes $1,419 of income from NPM Settlement.

⁽²⁾ Operating income includes $1,345 of income from NPM Settlement.

⁽³⁾ Operating income includes $1,419 of income from NPM Settlement and $1,500 of litigation settlement charges.

⁽⁴⁾ Operating income includes $6,947 of income from NPM Settlement.