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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Total Revenues $ 471,989 $ 438,273 $ 887,197 $ 819,073
Cost of sales:        
Total cost of sales 314,894 283,631 590,817 520,053
Operating, selling, administrative and general expenses 83,183 83,922 167,952 163,750
Litigation settlement and judgment expense 102 0 1,687 2,350
Restructuring charges 0 0 0 41
Operating income 73,810 70,720 126,741 132,879
Other income (expenses):        
Interest expense (46,691) (36,369) (92,912) (67,089)
Loss on extinguishment of debt 0 0 (34,110) 0
Change in fair value of derivatives embedded within convertible debt 8,134 7,416 16,705 17,110
Equity in earnings from real estate ventures 15,291 2,813 26,404 2,306
Equity in (losses) earnings from investments (1,459) 1,089 (2,520) (582)
Gain on sale of investment securities available for sale 37 139 187 706
Impairment of investment securities available for sale (87) (49) (126) (4,862)
Other, net 1,338 581 2,997 1,628
Income before provision for income taxes 50,373 46,340 43,366 82,096
Income tax expense 18,827 19,003 16,045 33,366
Net income 31,546 27,337 27,321 48,730
Net income attributed to non-controlling interest (4,735) (3,322) (4,737) (5,377)
Net income attributed to Vector Group Ltd. $ 26,811 $ 24,015 $ 22,584 $ 43,353
Per basic common share:        
Net income applicable to common share attributed to Vector Group Ltd. (in dollars per share) $ 0.20 $ 0.19 $ 0.16 $ 0.34
Per diluted common share:        
Net income applicable to common share attributed to Vector Group Ltd. (in dollars per share) 0.20 0.19 0.16 0.34
Dividends declared per share (in dollars per share) $ 0.40 $ 0.38 $ 0.8 $ 0.76
Tobacco        
Revenues        
Total Revenues [1] $ 272,177 $ 255,498 $ 529,631 $ 476,513
Cost of sales:        
Total cost of sales [1] 186,907 168,607 362,661 305,345
Litigation settlement and judgment expense 102   1,687 2,350
Restructuring charges       41
Real Estate        
Revenues        
Total Revenues 199,812 182,765 357,566 342,512
Cost of sales:        
Total cost of sales 127,987 115,017 228,156 214,695
E-Cigarettes        
Revenues        
Total Revenues 0 10 0 48
Cost of sales:        
Total cost of sales $ 0 $ 7 $ 0 $ 13
[1] Revenues and cost of sales include federal excise taxes of $115,194, $106,861, $224,562 and $197,707, respectively.