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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Total revenues $ 484,625 $ 459,104 $ 1,371,822 $ 1,278,177
Cost of sales:        
Total cost of sales 338,116 303,442 928,933 823,495
Operating, selling, administrative and general expenses 83,172 86,298 251,124 250,048
Litigation settlement and judgment expense 4,104 0 5,791 2,350
Restructuring charges 0 0 0 41
Operating income 59,233 69,364 185,974 202,243
Other income (expenses):        
Interest expense (43,234) (37,365) (136,146) (104,454)
Loss on extinguishment of debt 0 0 (34,110) 0
Change in fair value of derivatives embedded within convertible debt 9,437 6,112 26,142 23,222
Equity in (losses) earnings from real estate ventures (47) 1,022 26,357 3,328
Equity in losses from investments (303) (1,526) (2,823) (2,108)
Gain on sale of investment securities available for sale 96 142 283 848
Impairment of investment securities available for sale (53) (54) (179) (4,916)
Other, net 1,821 1,328 4,818 2,956
Income before provision for income taxes 26,950 39,023 70,316 121,119
Income tax expense 6,472 13,316 22,517 46,682
Net income 20,478 25,707 47,799 74,437
Net income attributed to non-controlling interest (1,214) (2,532) (5,951) (7,909)
Net income attributed to Vector Group Ltd. $ 19,264 $ 23,175 $ 41,848 $ 66,528
Per basic common share:        
Net income applicable to common share attributed to Vector Group Ltd. (in dollars per share) $ 0.13 $ 0.17 $ 0.28 $ 0.49
Per diluted common share:        
Net income applicable to common share attributed to Vector Group Ltd. (in dollars per share) 0.13 0.17 0.28 0.49
Dividends declared per share (in dollars per share) $ 0.38 $ 0.36 $ 1.14 $ 1.09
Tobacco        
Revenues:        
Total revenues [1] $ 294,245 $ 274,164 $ 823,876 $ 750,677
Cost of sales:        
Total cost of sales [1] 207,800 186,343 570,461 491,688
Litigation settlement and judgment expense 4,104   5,791 2,350
Restructuring charges       41
Real Estate        
Revenues:        
Total revenues 190,860 184,936 548,426 527,448
Cost of sales:        
Total cost of sales 130,316 117,089 358,472 331,784
E-Cigarettes        
Revenues:        
Total revenues (480) 4 (480) 52
Cost of sales:        
Total cost of sales $ 0 $ 10 $ 0 $ 23
[1] Revenues and cost of sales include federal excise taxes of $126,912, $116,024, $351,474 and $313,731, respectively.