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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Tobacco [1] $ 264,170 $ 264,520 $ 747,145 $ 748,468
Real estate 185,563 153,748 478,841 415,280
E-Cigarettes 201 1,608 881 9,977
Total revenues 449,934 419,876 1,226,867 1,173,725
Cost of sales:        
Tobacco [1] 174,418 189,728 506,315 537,667
Real estate 121,078 96,442 309,306 261,531
E-Cigarettes 421 1,066 1,518 6,357
Total cost of sales 295,917 287,236 817,139 805,555
Operating, selling, administrative and general expenses 79,114 69,431 232,737 200,431
Litigation settlement and judgment expense 3,750 225 5,843 1,725
Restructuring expenses 1,548 0 1,548 0
Operating income 69,605 62,984 169,600 166,014
Other income (expenses):        
Interest expense (32,898) (44,034) (96,405) (123,670)
Change in fair value of derivatives embedded within convertible debt 7,044 7,127 18,760 7,447
Acceleration of interest expense related to debt conversion 0 (994) 0 (5,112)
Equity (loss) income from real estate ventures (916) 3,258 1,278 3,002
Equity (loss) income from investments (579) 829 (2,273) 1,462
(Loss) gain on sale of investment securities available for sale (821) 33 12,018 (38)
Impairment of investment securities available for sale (12,211) 0 (12,211) 0
Other, net 133 2,466 3,554 8,167
Income before provision for income taxes 29,357 31,669 94,321 57,272
Income tax expense 13,508 11,964 37,551 21,007
Net income 15,849 19,705 56,770 36,265
Net income attributed to non-controlling interest (3,644) (4,826) (5,741) (10,881)
Net income attributed to Vector Group Ltd. $ 12,205 $ 14,879 $ 51,029 $ 25,384
Per basic common share:        
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) $ 0.10 $ 0.13 $ 0.42 $ 0.23
Per diluted common share:        
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) 0.10 0.13 0.42 0.23
Cash distributions and dividends declared per share (in dollars per share) $ 0.38 $ 0.36 $ 1.14 $ 1.09
[1] Revenues and cost of sales include excise taxes of $112,773, $115,323, $319,044 and $327,434, respectively.