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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues:    
Tobacco [1] $ 221,015 $ 228,085
Real estate 159,747 132,256
E-Cigarettes 38 419
Total revenues 380,800 360,760
Cost of sales:    
Tobacco [1] 136,738 157,030
Real estate 99,678 84,358
E-Cigarettes 6 630
Total cost of sales 236,422 242,018
Operating, selling, administrative and general expenses 79,828 74,181
Litigation settlement and judgment expense 2,350 843
Restructuring charges 41 0
Operating income 62,159 43,718
Other income (expenses):    
Interest expense (30,720) (31,746)
Change in fair value of derivatives embedded within convertible debt 9,694 6,460
Equity in (losses) earnings from real estate ventures (507) 338
Equity in (losses) earnings from investments (1,671) 612
Gain on sale of investment securities available for sale 567 13,029
Impairment of investment securities available for sale (4,813) 0
Other, net 1,047 1,937
Income before provision for income taxes 35,756 34,348
Income tax expense 14,363 12,867
Net income 21,393 21,481
Net income attributed to non-controlling interest (2,055) (260)
Net income attributed to Vector Group Ltd. $ 19,338 $ 21,221
Per basic common share:    
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) $ 0.16 $ 0.18
Per diluted common share:    
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share) 0.16 0.18
Cash distributions and dividends declared per share (in dollars per share) $ 0.4 $ 0.38
[1] Revenues and cost of sales include excise taxes of $90,846 and $97,359, respectively.