XML 77 R62.htm IDEA: XBRL DOCUMENT v3.10.0.1
Revenue Recognition - New Accounting Pronouncement (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Jan. 01, 2018
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Current assets:                          
Accounts receivable - trade, net $ 33,995 $ 34,246       $ 29,481       $ 34,246 $ 29,481    
Other current assets 28,770 26,351       21,121       26,351 21,121    
Total current assets 625,872 872,221       613,709       872,221 613,709    
Other assets 46,298 60,177       36,786       60,177 36,786    
Total assets 1,349,953 1,549,504       1,328,278       1,549,504 1,328,278 $ 1,404,035  
Current liabilities:                          
Income taxes payable, net   5,252       100       5,252 100    
Other current liabilities 167,454 179,153       157,123       179,153 157,123    
Total current liabilities 214,970 484,920       204,639       484,920 204,639    
Deferred income taxes, net 55,577 37,411       58,801       37,411 58,801    
Other liabilities 50,363 63,588       22,380       63,588 22,380    
Total liabilities 1,695,128 2,096,870       1,660,038       2,096,870 1,660,038    
Accumulated deficit (423,306) (542,169)       (414,785)       (542,169) (414,785)    
Total Vector Group Ltd. stockholders' deficiency (422,440) (548,059)       (413,919)       (548,059) (413,919)    
Non-controlling interest 77,265 693       82,159       693 82,159    
Total stockholders' deficiency (345,175) (547,366)       (331,760)       (547,366) (331,760) (253,272) $ (122,161)
Total liabilities and stockholders' deficiency 1,349,953 1,549,504       1,328,278       1,549,504 1,328,278    
Revenues:                          
Revenues   445,939 $ 513,869 $ 481,488 $ 428,966 435,654 $ 484,625 $ 471,989 $ 415,208 1,870,262 1,807,476 1,690,949  
Cost of sales:                          
Total cost of sales                   1,292,484 1,228,046 1,097,344  
Operating, selling, administrative and general expenses                   355,513 337,191 339,059  
Operating income   48,086 66,018 61,861 48,084 48,204 59,723 74,300 53,421 224,049 235,648 234,505  
Income before provision for income taxes                   79,559 89,168 126,429  
Income tax expense (benefit)                   21,552 (1,582) 49,163  
Net income   20,319 15,028 18,996 3,664 42,951 20,478 31,546 (4,225) 58,007 90,750 77,266  
Net loss (income) attributed to non-controlling interest                   98 (6,178) (6,139)  
Net income attributed to Vector Group Ltd.   $ 21,074 $ 12,002 $ 17,818 $ 7,211 $ 42,724 $ 19,264 $ 26,811 $ (4,227) $ 58,105 $ 84,572 $ 71,127  
Per basic common share:                          
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share)   $ 0.14 $ 0.07 $ 0.12 $ 0.04 $ 0.30 $ 0.13 $ 0.18 $ (0.04) $ 0.37 $ 0.56 $ 0.50  
Per diluted common share:                          
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share)   $ 0.14 $ 0.07 $ 0.12 $ 0.04 $ 0.26 $ 0.13 $ 0.18 $ (0.04) $ 0.37 $ 0.56 $ 0.50  
Impact of adoption of new accounting standard, increase to beginning retained earnings $ 4,576         $ (8,838)         $ (8,838)    
Accounting Standards Update 2014-09                          
Current assets:                          
Other assets   $ 7,171               $ 7,171      
Per diluted common share:                          
Annual effective tax rate 35.49%                        
Deferred tax rate 27.26%                        
Tobacco                          
Revenues:                          
Revenues [1]                   1,111,094 1,080,950 $ 1,011,620  
Cost of sales:                          
Total cost of sales [1]                   787,251 750,768 672,431  
Real Estate                          
Revenues:                          
Revenues                   759,168 727,364 680,105  
Cost of sales:                          
Total cost of sales                   505,233 477,278 424,829  
Real Estate | Accounting Standards Update 2014-09                          
Per diluted common share:                          
Relative ownership interest 70.59%                        
Relative ownership interest 29.41%                        
Real Estate | Accounting Standards Update 2014-09 | Real Estate Commercial Leasing                          
Current liabilities:                          
Other current liabilities $ 3,139                        
Real Estate | Accounting Standards Update 2014-09 | Real Estate Development Marketing                          
Current liabilities:                          
Other current liabilities 4,667                        
Calculated under Revenue Guidance in Effect before Topic 606                          
Current assets:                          
Accounts receivable - trade, net   32,196               32,196      
Other current assets   17,085               17,085      
Total current assets   860,905               860,905      
Other assets   47,068               47,068      
Total assets   1,525,079               1,525,079      
Current liabilities:                          
Income taxes payable, net   5,375               5,375      
Other current liabilities   168,905               168,905      
Total current liabilities   474,795               474,795      
Deferred income taxes, net   40,563               40,563      
Other liabilities   33,143               33,143      
Total liabilities   2,059,452               2,059,452      
Accumulated deficit   (533,961)               (533,961)      
Total Vector Group Ltd. stockholders' deficiency   (539,851)               (539,851)      
Non-controlling interest   5,478               5,478      
Total stockholders' deficiency   (534,373)               (534,373)      
Total liabilities and stockholders' deficiency   1,525,079               1,525,079      
Revenues:                          
Revenues                   1,878,282      
Cost of sales:                          
Total cost of sales                   1,293,907      
Operating, selling, administrative and general expenses                   362,481      
Operating income                   223,678      
Income before provision for income taxes                   79,188      
Income tax expense (benefit)                   21,501      
Net income                   57,687      
Net loss (income) attributed to non-controlling interest                   207      
Net income attributed to Vector Group Ltd.                   $ 57,894      
Per basic common share:                          
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share)                   $ 0.36      
Per diluted common share:                          
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share)                   $ 0.36      
Calculated under Revenue Guidance in Effect before Topic 606 | Tobacco                          
Revenues:                          
Revenues                   $ 1,112,733      
Cost of sales:                          
Total cost of sales                   781,163      
Calculated under Revenue Guidance in Effect before Topic 606 | Real Estate                          
Revenues:                          
Revenues                   765,549      
Cost of sales:                          
Total cost of sales                   512,744      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09                          
Current assets:                          
Accounts receivable - trade, net   2,050               2,050      
Other current assets   9,266               9,266      
Total current assets   11,316               11,316      
Other assets   13,109               13,109      
Total assets   24,425               24,425      
Current liabilities:                          
Income taxes payable, net   (123)               (123)      
Other current liabilities   10,248               10,248      
Total current liabilities   10,125               10,125      
Deferred income taxes, net   (3,152)               (3,152)      
Other liabilities   30,445               30,445      
Total liabilities   37,418               37,418      
Accumulated deficit   (8,208)               (8,208)      
Total Vector Group Ltd. stockholders' deficiency   (8,208)               (8,208)      
Non-controlling interest   (4,785)               (4,785)      
Total stockholders' deficiency   (12,993)               (12,993)      
Total liabilities and stockholders' deficiency   24,425               24,425      
Revenues:                          
Revenues                   (8,020)      
Cost of sales:                          
Total cost of sales                   (1,423)      
Operating, selling, administrative and general expenses                   (6,968)      
Operating income                   371      
Income before provision for income taxes                   371      
Income tax expense (benefit)                   51      
Net income                   320      
Net loss (income) attributed to non-controlling interest                   (109)      
Net income attributed to Vector Group Ltd.                   211      
Per diluted common share:                          
Revenue recognized for performance obligations satisfied                   18,683      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Real Estate Commercial Leasing                          
Current liabilities:                          
Other current liabilities   1,082               1,082      
Revenues:                          
Revenues                   4,677      
Cost of sales:                          
Total cost of sales                   (2,057)      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Real Estate Development Marketing                          
Revenues:                          
Revenues                   20,385      
Cost of sales:                          
Total cost of sales                   18,322      
Operating, selling, administrative and general expenses                   949      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Incentive Payments [Member]                          
Revenues:                          
Revenues                   2,069      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Tobacco Shipping and Handling Costs                          
Cost of sales:                          
Total cost of sales                   5,658      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Real Estate Business                          
Cost of sales:                          
Total cost of sales                   (7,511)      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Tobacco Sales Returns                          
Current liabilities:                          
Other current liabilities   2,095               2,095      
Cost of sales:                          
Total cost of sales                   430      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Previously Deferred Contract Costs                          
Cost of sales:                          
Total cost of sales                   12,678      
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Real Estate Commercial Leasing Commissions                          
Revenues:                          
Revenues                   (2,464)      
Cost of sales:                          
Total cost of sales                   2,837      
Difference between Revenue Guidance in Effect before and after Topic 606 | Tobacco | Accounting Standards Update 2014-09                          
Current assets:                          
Accounts receivable - trade, net 0                        
Other current assets 2,525                        
Total current assets 2,525                        
Other assets 0                        
Total assets 2,525                        
Current liabilities:                          
Other current liabilities 2,525                        
Total current liabilities 2,525                        
Deferred income taxes, net 0                        
Other liabilities 0                        
Total liabilities 2,525                        
Accumulated deficit 0                        
Total Vector Group Ltd. stockholders' deficiency 0                        
Non-controlling interest 0                        
Total stockholders' deficiency 0                        
Total liabilities and stockholders' deficiency 2,525                        
Revenues:                          
Revenues                   (1,639)      
Cost of sales:                          
Total cost of sales                   6,088      
Difference between Revenue Guidance in Effect before and after Topic 606 | Real Estate | Accounting Standards Update 2014-09                          
Current assets:                          
Accounts receivable - trade, net 4,514                        
Other current assets 5,124                        
Total current assets 9,638                        
Other assets 9,512                        
Total assets 19,150                        
Current liabilities:                          
Other current liabilities 7,806                        
Total current liabilities 7,806                        
Deferred income taxes, net (3,224) (5,217)               (5,217)      
Other liabilities 27,983                        
Total liabilities 32,565                        
Accumulated deficit (8,521)                        
Total Vector Group Ltd. stockholders' deficiency (8,521)                        
Non-controlling interest (4,894)                        
Total stockholders' deficiency (13,415)                        
Total liabilities and stockholders' deficiency 19,150                        
Revenues:                          
Revenues                   (6,381)      
Cost of sales:                          
Total cost of sales                   (7,511)      
As Previously Reported                          
Cost of sales:                          
Operating, selling, administrative and general expenses                     339,151 340,567  
Operating income                     233,688 232,997  
Income before provision for income taxes                     89,168 126,429  
As Previously Reported | Calculated under Revenue Guidance in Effect before Topic 606                          
Current assets:                          
Accounts receivable - trade, net           29,481         29,481    
Other current assets           21,121         21,121    
Total current assets           613,709         613,709    
Other assets           36,786         36,786    
Total assets           1,328,278         1,328,278    
Current liabilities:                          
Other current liabilities           157,123         157,123    
Total current liabilities           204,639         204,639    
Deferred income taxes, net           58,801         58,801    
Other liabilities           22,380         22,380    
Total liabilities           1,660,038         1,660,038    
Accumulated deficit           (414,785)         (414,785)    
Total Vector Group Ltd. stockholders' deficiency           (413,919)         (413,919)    
Non-controlling interest           82,159         82,159    
Total stockholders' deficiency           (331,760)         (331,760)    
Total liabilities and stockholders' deficiency           1,328,278         1,328,278    
As Previously Reported | Difference between Revenue Guidance in Effect before and after Topic 606 | Real Estate | Accounting Standards Update 2014-09                          
Current assets:                          
Other current assets 623                        
Other assets 3,740                        
Accumulated Deficit                          
Current liabilities:                          
Total stockholders' deficiency   $ (542,169)       $ (414,785)       (542,169) (414,785) (333,529) $ (210,113)
Cost of sales:                          
Net income                   $ 58,105 $ 84,572 $ 71,127  
Per diluted common share:                          
Impact of adoption of new accounting standard, increase to beginning retained earnings (6,354)                        
Accumulated Deficit | Real Estate | Accounting Standards Update 2014-09                          
Per diluted common share:                          
Impact of adoption of new accounting standard, increase to beginning retained earnings (13,415)                        
Accumulated Deficit | As Previously Reported | Real Estate | Accounting Standards Update 2014-09                          
Per diluted common share:                          
Impact of adoption of new accounting standard, increase to beginning retained earnings $ 21,695                        
[1] Revenues and cost of sales include federal excise taxes of $469,836, $460,561 and $425,980 for the years ended December 31, 2018, 2017 and 2016, respectively.