Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Net Income for Purposes of Determining Basic and Diluted EPS

Net income for purposes of determining basic EPS was as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Net income attributed to Vector Group Ltd.	$	93,305	$	25,774	$	125,262	$	22,543
Income attributed to participating securities	(952)		(707)		(1,686)		(1,268)
Net income applicable to common shares attributed to Vector Group Ltd.	$	92,353	$	25,067	$	123,576	$	21,275

Net income for purposes of determining diluted EPS was as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Net income attributed to Vector Group Ltd.	$	93,305	$	25,774	$	125,262	$	22,543
Income attributable to 5.50% Variable Interest Senior Convertible Notes	—		(375)		—		—
Income attributed to participating securities	(952)		(707)		(1,686)		(1,268)
Net income applicable to common shares attributed to Vector Group Ltd.	$	92,353	$	24,692	$	123,576	$	21,275

Basic and Diluted EPS Calculation Shares

Basic and diluted EPS were calculated using the following common shares:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2021	2020	2021	2020
Weighted-average shares for basic EPS	152,285,182	149,379,306	152,267,410	148,189,710
Plus incremental shares related to convertible debt	—	1,379,454	—	—
Plus incremental shares related to stock options and non-vested restricted stock	282,313	88,100	206,381	85,701
Weighted-average shares for diluted EPS	152,567,495	150,846,860	152,473,791	148,275,411

Outstanding Shares Not Included in the Computation of Diluted EPS

The following non-vested restricted stock were outstanding during the three and six months ended June 30, 2021 and 2020, but were not included in the computation of diluted EPS because the impact of the per share expense associated with the restricted stock was greater than the average market price of the common shares during the respective periods. The following shares issuable upon the conversion of convertible debt were outstanding during the three and six months ended June 30, 2020, but were not included in the computation of diluted EPS because the impact of the common shares issuable under the convertible debt were anti-dilutive to EPS.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Weighted-average shares of non-vested restricted stock	—		625,122		—		625,122
Weighted-average expense per share	$	—	$	19.54	$	—	$	19.54
Weighted-average number of shares issuable upon conversion of debt	—		—		—		4,874,072
Weighted-average conversion price	$	—	$	—	$	—	$	20.27

Schedule of Amounts Expensed for Restructuring

The following table summarizes amounts expensed for the three and six months ended June 30, 2020:

	Three Months Ended		Six Months Ended
	June 30, 2020		June 30, 2020
Cash Charges:
Employee severance and benefits	$	1,599	$	1,599
Other restructuring expenses	218		218
	1,817		1,817
Non-Cash:
Loss on fixed assets associated with consolidation of sales offices	1,144		1,144
Total restructuring charges	$	2,961	$	2,961

Schedule of Activity for Restructuring

The following table presents the activity under the Real Estate segment restructuring plan for the six months ended June 30, 2020:

	Employee Severance and Benefits		Other		Non-Cash Loss on Fixed Assets		Total
Accrual balance as of January 1, 2020	$	—	$	—	$	—	$	—
Restructuring charges	1,599		218		1,144		2,961
Utilized	(1,239)		—		(1,144)		(2,383)
Accrual balance as of June 30, 2020	$	360	$	218	$	—	$	578

Schedule of Other Income (Loss), Net

Other, net consisted of:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Interest and dividend income	$	525	$	968	$	1,136	$	3,648
Net gains (losses) recognized on investment securities	8,469		4,781		10,918		(7,459)
Net periodic benefit cost other than the service costs	(243)		(454)		(487)		(909)
Credit loss income (expense)	—		1,128		—		(432)
Other (expense) income	(3,173)		1,212		(3,235)		2,132
Other, net	$	5,578	$	7,635	$	8,332	$	(3,020)

Schedule of Other Assets

Other assets consisted of:

	June 30, 2021		December 31, 2020
Restricted assets	$	4,170	$	3,456
Prepaid pension costs	35,751		35,209
Contract assets, net	23,538		24,002
Other assets	35,212		32,359
Total other assets	$	98,671	$	95,026

Schedule of Other Current Liabilities

Other current liabilities consisted of:

	June 30, 2021		December 31, 2020
Accounts payable	$	10,718	$	12,846
Accrued promotional expenses	49,269		45,579
Accrued excise and payroll taxes payable, net	22,973		13,849
Accrued interest	30,998		31,624
Commissions payable	38,832		25,615
Accrued salaries and benefits	25,517		27,104
Contract liabilities	7,507		7,633
Allowance for sales returns	7,414		7,356
Other current liabilities	30,270		27,331
Total other current liabilities	$	223,498	$	198,937

Schedule of Components of Cash, Cash Equivalents and Restricted Cash

The components of “Cash, cash equivalents and restricted cash” in the condensed consolidated statements of cash flows were as follows:

	June 30, 2021		December 31, 2020
Cash and cash equivalents	$	490,390	$	352,842
Restricted cash and cash equivalents included in other current assets	11,364		10,374
Restricted cash and cash equivalents included in other assets	3,343		2,461
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$	505,097	$	365,677