Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Consolidated Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEETS

				December 31, 2014
						Subsidiary					Consolidated
	Parent/			Subsidiary		Non-		Consolidating			Vector Group
	Issuer			Guarantors		Guarantors		Adjustments			Ltd.
ASSETS:
Current assets:
Cash and cash equivalents	$	211,751		$	9,724	$	104,890	$	—		$	326,365
Investment securities available for sale	278,010			68,033		—		—			346,043
Accounts receivable - trade, net	—			18,024		5,304		—			23,328
Intercompany receivables	795			267		—		(1,062		)	—
Inventories	—			90,323		—		—			90,323
Deferred income taxes	24,541			4,651		—		—			29,192
Income taxes receivable, net	1,055			463		21		1,743			3,282
Restricted assets	—			1,181		1,414		—			2,595
Other current assets	899			9,133		26,686		—			36,718
Total current assets	517,051			201,799		138,315		681			857,846
Property, plant and equipment, net	2,648			61,149		20,315		—			84,112
Real estate held for sale, net	—			—		10,643		—			10,643
Long-term investments	39,594			—		698		—			40,292
Investments in real estate ventures	—			—		163,460		—			163,460
Investments in consolidated subsidiaries	518,963			—		—		(518,963		)	—
Restricted assets	1,707			10,306		—		—			12,013
Deferred income taxes	37,117			8,393		5,619		—			51,129
Goodwill and other intangible assets, net	—			107,511		162,461		—			269,972
Prepaid pension costs	—			25,032		—		—			25,032
Other assets	45,904			10,743		2,246		—			58,893
Total assets	$	1,162,984		$	424,933	$	503,757	$	(518,282	)	$	1,573,392
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Current liabilities:
Current portion of notes payable and long-term debt	$	25,000		$	27,248	$	392	$	—		$	52,640
Current portion of fair value of derivatives embedded within convertible debt	884			—		—		—			884
Current portion of employee benefits	—			931		—		—			931
Intercompany payables	—			—		1,062		(1,062		)	—
Income taxes payable, net	—			—		—		1,743			1,743
Litigation accruals and current payments due under the Master Settlement Agreement	—			29,471		—		—			29,471
Deferred income taxes	41,993			15,678		—		—			57,671
Other current liabilities	36,653			58,677		31,425		—			126,755
Total current liabilities	104,530			132,005		32,879		681			270,095
Notes payable, long-term debt and other obligations, less current portion	852,560			8,120		31		—			860,711
Fair value of derivatives embedded within convertible debt	168,502			—		—		—			168,502
Non-current employee benefits	32,842			16,472		—		—			49,314
Deferred income taxes	60,656			40,694		44,289		—			145,639
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	921			51,775		4,383		—			57,079
Total liabilities	1,220,011			249,066		81,582		681			1,551,340
Commitments and contingencies
Stockholders’ (deficiency) equity attributed to Vector Group Ltd.	(57,027		)	175,867		343,096		(518,963		)	(57,027		)
Non-controlling interest	—			—		79,079		—			79,079
Total Stockholders’ (deficiency) equity	(57,027		)	175,867		422,175		(518,963		)	22,052
Total liabilities and stockholders’ equity	$	1,162,984		$	424,933	$	503,757	$	(518,282	)	$	1,573,392

CONDENSED CONSOLIDATING BALANCE SHEETS

				December 31, 2013
						Subsidiary					Consolidated
	Parent/			Subsidiary		Non-		Consolidating			Vector Group
	Issuer			Guarantors		Guarantors		Adjustments			Ltd.
ASSETS:
Current assets:
Cash and cash equivalents	$	151,342		$	11,812	$	71,312	$	—		$	234,466
Investment securities available for sale	114,886			57,648		—		—			172,534
Accounts receivable - trade, net	—			10,154		2,005		—			12,159
Intercompany receivables	509			—		—		(509		)	—
Inventories	—			93,496		—		—			93,496
Deferred income taxes	45,578			4,901		—		—			50,479
Income taxes receivable, net	—			10,447		—		(10,447		)	—
Restricted assets	—			1,060		725		—			1,785
Other current assets	513			12,579		10,300		—			23,392
Total current assets	312,828			202,097		84,342		(10,956		)	588,311
Property, plant and equipment, net	3,641			55,093		20,524		—			79,258
Real estate held for sale, net	—			—		20,911		—			20,911
Long-term investments	28,636			—		747		—			29,383
Investments in real estate ventures	—			—		128,202		—			128,202
Investments in consolidated subsidiaries	410,442			—		—		(410,442		)	—
Restricted assets	1,895			10,086		—		—			11,981
Deferred income taxes	35,000			12,766		3,708		—			51,474
Goodwill and other intangible assets,net	—			107,511		167,597		—			275,108
Prepaid pension costs	—			26,080		—		—			26,080
Other assets	38,374			10,126		5,053		—			53,553
Total assets	$	830,816		$	423,759	$	431,084	$	(421,398	)	$	1,264,261
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY:
Current liabilities:
Current portion of notes payable and long-term debt	$	112,275		$	39,013	$	289	$	—		$	151,577
Current portion of fair value of derivatives embedded within convertible debt	19,128			—		—		—			19,128
Current portion of employee benefits	—			939		—		—			939
Intercompany payables	—			39		470		(509		)	—
Income taxes payable, net	16,870			—		—		(10,447		)	6,423
Litigation accruals and current payments due under the Master Settlement Agreement	—			84,658		—		—			84,658
Deferred income taxes	32,309			13,425		—		—			45,734
Other current liabilities	29,580			44,907		22,164		—			96,651
Total current liabilities	210,162			182,981		22,923		(10,956		)	405,110
Notes payable, long-term debt and other obligations, less current portion	524,182			12,573		4,011		—			540,766
Fair value of derivatives embedded within convertible debt	92,934			—		—		—			92,934
Non-current employee benefits	31,462			16,455		—		—			47,917
Deferred income taxes	65,759			37,602		34,289		—			137,650
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	1,353			54,924		5,216		—			61,493
Total liabilities	925,852			304,535		66,439		(10,956		)	1,285,870
Commitments and contingencies
Stockholders’ (deficiency) equity attributed to Vector Group Ltd.	(95,036		)	119,224		291,218		(410,442		)	(95,036		)
Non-controlling interest	—			—		73,427		—			73,427
Total Stockholders’ (deficiency) equity	(95,036		)	119,224		364,645		(410,442		)	(21,609		)
Total liabilities and stockholders’ deficiency	$	830,816		$	423,759	$	431,084	$	(421,398	)	$	1,264,261

Schedule of Condensed Consolidating Statemetns of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

				Year Ended December 31, 2014
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Revenues	$	—		$	1,030,157		$	561,467		$	(309	)	$	1,591,315
Expenses:
Cost of sales	—			743,032			354,028			—			1,097,060
Operating, selling, administrative and general expenses	23,312			90,208			165,181			(309		)	278,392
Litigation judgment expense	—			2,475			—			—			2,475
Management fee expense	—			9,870			—			(9,870		)	—
Operating (loss) income	(23,312		)	184,572			42,258			9,870			213,388
Other income (expenses):
Interest expense	(157,321		)	(4,241		)	(41		)	612			(160,991		)
Change in fair value of derivatives embedded within convertible debt	19,409			—			—			—			19,409
Acceleration of interest expense related to debt conversion	(5,205		)	—			—			—			(5,205		)
Equity income from real estate ventures	—			—			4,103			—			4,103
Equity income on long-term investments	1,242			—			—			—			1,242
Loss on sale of investment securities available for sale	(11		)	—			—			—			(11		)
Equity income in consolidated subsidiaries	124,001			—			—			(124,001		)	—
Management fee income	9,870			—			—			(9,870		)	—
Other, net	5,334			1,044			4,786			(612		)	10,552
(Loss) income before provision for income taxes	(25,993		)	181,375			51,106			(124,001		)	82,487
Income tax benefit (expense)	62,971			(78,794		)	(17,428		)	—			(33,251		)
Net income	36,978			102,581			33,678			(124,001		)	49,236
Net income attributed to non-controlling interest	—			—			(12,258		)	—			(12,258		)
Net income attributed to Vector Group Ltd.	36,978			102,581			21,420			(124,001		)	36,978
Comprehensive income attributed to non-controlling interest	—			—			(12,258		)	—			(12,258		)
Comprehensive income attributed to Vector Group Ltd.	$	48,658		$	102,669		$	21,420		$	(124,089	)	$	48,658

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

				Year Ended December 31, 2013
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Revenues	$	—		$	1,014,341		$	65,580		$	—		$	1,079,921
Expenses:
Cost of sales	—			729,393			37,638			—			767,031
Operating, selling, administrative and general expenses	22,835			77,780			12,133			—			112,748
Litigation judgment expense	—			88,106			—			—			88,106
Management fee expense	—			9,508			—			(9,508		)	—
Operating (loss) income	(22,835		)	109,554			15,809			9,508			112,036
Other income (expenses):
Interest expense	(130,417		)	(1,716		)	(14		)	—			(132,147		)
Change in fair value of derivatives embedded within convertible debt	18,935			—			—			—			18,935
Acceleration of interest expense related to debt conversion	(12,414		)	—			—			—			(12,414		)
Loss on extinguishment of debt	(21,458		)	—			—			—			(21,458		)
Equity income from real estate ventures	—			—			22,925			—			22,925
Equity income on long-term investments	2,066			—			—			—			2,066
(Loss) gain on investment securities available for sale	(272		)	5,424			—			—			5,152
Gain on acquisition of Douglas Elliman	—			—			60,842			—			60,842
Equity income in consolidated subsidiaries	144,689			—			—			(144,689		)	—
Management fee income	9,508			—			—			(9,508		)	—
Other, net	4,439			2,763			348			—			7,550
(Loss) income before provision for income taxes	(7,759		)	116,025			99,910			(144,689		)	63,487
Income tax benefit (expense)	46,703			(30,758		)	(40,740		)	—			(24,795		)
Net income	38,944			85,267			59,170			(144,689		)	38,692
Net loss attributed to non-controlling interest	—			—			252			—			252
Net income attributed to Vector Group Ltd.	38,944			85,267			59,422			(144,689		)	38,944
Comprehensive loss attributed to non-controlling interest	—			—			252			—			252
Comprehensive income	$	72,072		$	102,344		$	59,422		$	(161,766	)	$	72,072

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

	Year Ended December 31, 2012
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Revenues	$	—		$	1,084,546		$	10,987		$	—		$	1,095,533
Expenses:
Cost of sales	—			823,452			8,876			—			832,328
Operating, selling, administrative and general expenses	26,039			78,054			4,179			—			108,272
Management fee expense	—			9,163			—			(9,163		)	—
Operating (loss) income	(26,039		)	173,877			(2,068		)	9,163			154,933
Other income (expenses):
Interest expense	(105,465		)	(4,614		)	(23		)	—			(110,102		)
Changes in fair value of derivatives embedded within convertible debt	(7,476		)	—			—			—			(7,476		)
Acceleration of interest expense related to debt conversion	(14,960		)	—			—			—			(14,960		)
Equity income from real estate ventures	—			—			29,764			—			29,764
Gain on investment securities available for sale	—			1,640			—			—			1,640
Equity loss on long-term investments	(1,261		)	—			—			—			(1,261		)
Equity income in consolidated subsidiaries	120,036			—			—			(120,036		)	—
Management fee income	9,163			—			—			(9,163		)	—
Other, net	1,022			21			136			—			1,179
(Loss) Income before provision for income taxes	(24,980		)	170,924			27,809			(120,036		)	53,717
Income tax benefit (expense)	55,602			(67,294		)	(11,403		)	—			(23,095		)
Net income	30,622			103,630			16,406			(120,036		)	30,622
Comprehensive income	$	24,031		$	104,520		$	16,406		$	(120,926	)	$	24,031

Schedule of Condensed Consolidating Cash Flow Statement

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

				Year Ended December 31, 2014
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Net cash provided by operating activities	$	61,779		$	83,671		$	62,656		$	(100,730	)	$	107,376
Cash flows from investing activities:
Proceeds from the sale or maturity of investment securities	156,604			—			—			—			156,604
Purchase of investment securities	(299,417		)	(6,314		)	—			—			(305,731		)
Proceeds from sale or liquidation of long-term investments	500			—			49			—			549
Purchase of long-term investments	(12,000		)	—			—			—			(12,000		)
Investments in real estate ventures	—			—			(40,916		)	—			(40,916		)
Distributions from investment in real estate ventures	—			—			7,309			—			7,309
Increase in cash surrender value of life insurance policies	—			(484		)	—			—			(484		)
Decrease (increase) in restricted assets	188			(371		)	(689		)	—			(872		)
Issuance of notes receivable	(35,000		)	—			(8,250		)	35,000			(8,250		)
Investments in subsidiaries	(85,278		)	—			—			85,278			—
Proceeds from sale of businesses and assets	—			4			—			—			4
Purchase of subsidiaries	—			—			(750		)	—			(750		)
Repayment of notes receivable	36,867			—			4,850			(35,000		)	6,717
Capital expenditures	(15		)	(16,466		)	(6,923		)	—			(23,404		)
Purchase of preferred securities	—			—			(1,000		)	—			(1,000		)
Pay down of investment securities	790			—			—			—			790
Net cash used in investing activities	(236,761		)	(23,631		)	(46,320		)	85,278			(221,434		)
Cash flows from financing activities:
Proceeds from issuance of debt	408,750			40,164			—			(35,000		)	413,914
Deferred financing costs	(12,360		)	—			—			—			(12,360		)
Repayments of debt	—			(43,724		)	(3,877		)	35,000			(12,601		)
Borrowings under revolver	—			886,130			—			—			886,130
Repayments on revolver	—			(898,788		)	—			—			(898,788		)
Capital contributions received	—			15,270			70,008			(85,278		)	—
Intercompany dividends paid	—			(61,180		)	(39,550		)	100,730			—
Distributions on common stock	(167,328		)	—			—			—			(167,328		)
Distributions to non-controlling interest	—			—			(9,339		)	—			(9,339		)
Proceeds from exercise of Vector options	5,151			—			—			—			5,151
Tax benefit of options exercised	1,178			—			—			—			1,178
Net cash provided by (used in) financing activities	235,391			(62,128		)	17,242			15,452			205,957
Net increase (decrease) in cash and cash equivalents	60,409			(2,088		)	33,578			—			91,899
Cash and cash equivalents, beginning of period	151,342			11,812			71,312			—			234,466
Cash and cash equivalents, end of period	$	211,751		$	9,724		$	104,890		$	—		$	326,365

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

				Year Ended December 31, 2013
							Subsidiary						Consolidated
	Parent/			Subsidiary			Non-			Consolidating			Vector Group
	Issuer			Guarantors			Guarantors			Adjustments			Ltd.
Net cash provided by (used in) operating activities	$	71,730		$	115,829		$	(16,239	)	$	(119,294	)	$	52,026
Cash flows from investing activities:
Proceeds from the sale or maturity of investment securities	111,127			6,602			—			—			117,729
Purchase of investment securities	(159,463		)	(11,501		)	—			—			(170,964		)
Proceeds from sale of or liquidation of long-term investments	500			—			80			—			580
Purchase of long-term investments	(5,000		)	—			—			—			(5,000		)
Investments in real estate ventures	—			—			(75,731		)	—			(75,731		)
Distributions from investments in real estate ventures	—			—			3,142			—			3,142
Increase in cash surrender value of life insurance policies	(144		)	(484		)	—			—			(628		)
Decrease in restricted assets	3			1,078			—			—			1,081
Issuance of notes receivable	—			—			(8,600		)	—			(8,600		)
Investments in subsidiaries	(155,961		)	—			—			155,961			—
Proceeds from sale of businesses and assets	35			13			—			—			48
Cash acquired in Douglas Elliman consolidation	—			—			116,935			—			116,935
Purchase of subsidiaries	—			—			(67,616		)	—			(67,616		)
Repayments of notes receivable	10,347			—			—			—			10,347
Capital expenditures	(2,297		)	(9,784		)	(1,194		)	—			(13,275		)
Net cash used in investing activities	(200,853		)	(14,076		)	(32,984		)	155,961			(91,952		)
Cash flows from financing activities:
Proceeds from issuance of debt	450,000			4,687			3,080			—			457,767
Deferred financing costs	(11,750		)	—			—			—			(11,750		)
Repayments of debt	(415,000		)	(7,466		)	(115		)	—			(422,581		)
Borrowings under revolver	—			978,788			—			—			978,788
Repayments on revolver	—			(977,794		)	—			—			(977,794		)
Capital contributions received	—			13,950			142,011			(155,961		)	—
Intercompany dividends paid	—			(105,882		)	(13,412		)	119,294			—
Distributions on common stock	(144,711		)	—			—			—			(144,711		)
Distributions to non-controlling interest	—			—			(11,764		)	—			(11,764		)
Proceeds from exercise of Vector options	544			—			—			—			544
Tax benefit of options exercised	38			—			—			—			38
Net cash (used in) provided by financing activities	(120,879		)	(93,717		)	119,800			(36,667		)	(131,463		)
Net (decrease) increase in cash and cash equivalents	(250,002		)	8,036			70,577			—			(171,389		)
Cash and cash equivalents, beginning of period	401,344			3,776			735			—			405,855
Cash and cash equivalents, end of period	$	151,342		$	11,812		$	71,312		$	—		$	234,466

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Year Ended December 31, 2012
	Parent/ Issuer			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Vector Group Ltd.
Net cash provided by (used in) operating activities	$	118,399		$	133,308		$	(2,772	)	$	(164,849	)	$	84,086
Cash flows from investing activities:
Proceeds from sale or maturity of investment securities	—			3,831			—			—			3,831
Purchase of investment securities	—			(5,647		)	—			—			(5,647		)
Proceeds from sale or liquidation of long-term investments	—			—			72			—			72
Purchase of long-term investments	(5,000		)	—			—			—			(5,000		)
Investments in real estate ventures	—			—			(33,375		)	—			(33,375		)
Distributions from investments in real estate ventures	—			—			49,221			—			49,221
Increase in cash surrender value of life insurance policies	(425		)	(482		)	—			—			(907		)
Decrease (increase) in restricted assets	263			(1,393		)	—			—			(1,130		)
Issuance of notes receivable	(383		)	—			—			—			(383		)
Proceeds from sale of business and assets	432			12			—			—			444
Investments in subsidiaries	(31,209		)	—			—			31,209			—
Capital expenditures	(1,520		)	(9,339		)	(406		)	—			(11,265		)
Net cash (used in) provided by investing activities	(37,842		)	(13,018		)	15,512			31,209			(4,139		)
Cash flows from financing activities:
Proceeds from issuance of debt	230,000			14,033			42			—			244,075
Repayments of debt	—			(19,125		)	(133		)	—			(19,258		)
Deferred financing charges	(11,164		)	(315		)	—			—			(11,479		)
Borrowings under revolver	—			1,074,050			—			—			1,074,050
Repayments on revolver	—			(1,066,092		)	—			—			(1,066,092		)
Capital contributions received	—			6,991			24,218			(31,209		)	—
Intercompany dividends paid	—			(128,544		)	(36,305		)	164,849			—
Distributions on common stock	(137,114		)	—			—			—			(137,114		)
Proceeds from issuance of Vector stock	611			—			—			—			611
Proceeds from exercise of Vector options	140			—			—			—			140
Tax benefit of options exercised	52			—			—			—			52
Net cash provided by (used in) by financing activities	82,525			(119,002		)	(12,178		)	133,640			84,985
Net increase in cash and cash equivalents	163,082			1,288			562			—			164,932
Cash and cash equivalents, beginning of period	238,262			2,488			173			—			240,923
Cash and cash equivalents, end of period	$	401,344		$	3,776		$	735		$	—		$	405,855