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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Tobacco [1] $ 254,890 $ 250,556 $ 482,975 $ 483,948
Real estate 161,022 153,488 293,278 261,532
E-Cigarettes 261 2,569 680 8,369
Total revenues 416,173 406,613 776,933 753,849
Cost of sales:        
Tobacco [1] 174,867 179,773 331,897 347,939
Real estate 103,870 97,763 188,228 165,087
E-Cigarettes 467 1,746 1,097 5,293
Total cost of sales 279,204 279,282 521,222 518,319
Operating, selling, administrative and general expenses 79,679 67,023 153,623 131,000
Litigation settlement and judgment expense 1,250 0 2,093 1,500
Operating income 56,040 60,308 99,995 103,030
Other income (expenses):        
Interest expense (31,761) (44,183) (63,507) (79,636)
Change in fair value of derivatives embedded within convertible debt 5,256 1,970 11,716 320
Acceleration of interest expense related to debt conversion 0 (439) 0 (4,118)
Equity income (loss) from real estate ventures 1,856 (1,808) 2,194 (256)
Equity (loss) income on long-term investments (1,657) (273) (1,694) 633
(Loss) gain on sale of investment securities available for sale (190) (18) 12,839 (71)
Other, net 1,525 3,575 3,421 5,701
Income before provision for income taxes 31,069 19,132 64,964 25,603
Income tax expense 11,364 6,101 24,043 9,043
Net income 19,705 13,031 40,921 16,560
Net income attributed to non-controlling interest (1,837) (5,106) (2,097) (6,055)
Net income attributed to Vector Group Ltd. $ 17,868 $ 7,925 $ 38,824 $ 10,505
Per basic common share:        
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) $ 0.15 $ 0.08 $ 0.34 $ 0.10
Per diluted common share:        
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) 0.15 0.08 0.34 0.10
Cash distributions and dividends declared per share (in dollars per share) $ 0.40 $ 0.38 $ 0.80 $ 0.76
[1] Revenues and cost of sales include excise taxes of $108,912, $109,695, $206,271 and $212,108, respectively.