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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Total Revenues $ 459,104 $ 449,934 $ 1,278,177 $ 1,226,867
Cost of sales:        
Total cost of sales 303,442 295,917 823,495 817,139
Operating, selling, administrative and general expenses 86,298 79,352 250,048 233,449
Litigation settlement and judgment expense 0 3,750 2,350 5,843
Restructuring charges 0 1,548 41 1,548
Operating income 69,364 69,367 202,243 168,888
Other income (expenses):        
Interest expense (37,365) (32,898) (104,454) (96,405)
Change in fair value of derivatives embedded within convertible debt 6,112 7,044 23,222 18,760
Equity in earnings (losses) from real estate ventures 1,022 (916) 3,328 1,278
Equity in losses from investments (1,526) (1,103) (2,108) (2,654)
Gain (loss) on sale of investment securities available for sale 142 (821) 848 12,018
Impairment of investment securities available for sale (54) (12,211) (4,916) (12,211)
Other, net 1,328 1,342 2,956 5,100
Income before provision for income taxes 39,023 29,804 121,119 94,774
Income tax expense 13,316 13,694 46,682 37,739
Net income 25,707 16,110 74,437 57,035
Net income attributed to non-controlling interest (2,532) (3,644) (7,909) (5,741)
Net income attributed to Vector Group Ltd. $ 23,175 $ 12,466 $ 66,528 $ 51,294
Per basic common share:        
Net income applicable to common share attributed to Vector Group Ltd. (in dollars per share) $ 0.18 $ 0.10 $ 0.52 $ 0.40
Per diluted common share:        
Net income applicable to common share attributed to Vector Group Ltd. (in dollars per share) 0.18 0.10 0.52 0.40
Cash distributions and dividends declared per share (in dollars per share) $ 0.38 $ 0.36 $ 1.14 $ 1.09
Tobacco        
Revenues        
Total Revenues [1] $ 274,164 $ 264,170 $ 750,677 $ 747,145
Cost of sales:        
Total cost of sales [1] 186,343 174,418 491,688 506,315
Restructuring charges     41  
Real Estate        
Revenues        
Total Revenues 184,936 185,563 527,448 478,841
Cost of sales:        
Total cost of sales 117,089 121,078 331,784 309,306
E-Cigarettes        
Revenues        
Total Revenues 4 201 52 881
Cost of sales:        
Total cost of sales $ 10 $ 421 $ 23 $ 1,518
[1] Revenues and cost of sales include federal excise taxes of $116,024, $112,773, $313,731 and $319,044, respectively.