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Discontinued Operations
12 Months Ended
Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations DISCONTINUED OPERATIONS
On December 29, 2021, at 11:59 p.m., New York City time, the Company completed the distribution to its stockholders (including Vector common stock underlying outstanding stock options awards and restricted stock awards) of the common stock of Douglas Elliman (the “Spin-off”). Each holder of Vector common stock received one share of Douglas Elliman’s common stock for every two shares of Vector common stock (including Vector common stock underlying outstanding stock option awards and restricted stock awards) held of record as of the close of business, New York City time, on December 20, 2021. In the Spin-off, an aggregate of 77,720,159 shares of Douglas Elliman’s common stock were issued, with any fractional shares converted to cash and paid to applicable Vector stockholders. Prior to the Spin-off, Douglas Elliman was a component of the Real Estate segment of the Company.
Following the Spin-off, Douglas Elliman is a separate public company. The Company and Douglas Elliman entered into a distribution agreement (the “Distribution Agreement”) and several ancillary agreements for the purpose of accomplishing the Spin-off. The Distribution Agreement includes an agreement that the Company and Douglas Elliman will provide each other with appropriate indemnities with respect to liabilities arising out of the business retained by Vector and the business transferred to Douglas Elliman by Vector. These agreements also govern the Company’s relationship with Douglas Elliman subsequent to the Spin-off and provide for the allocation of employee benefit, tax and some other liabilities and obligations attributable to periods prior to, at and after the Spin-off. These agreements also include arrangements with respect to transition services (the “Transition Services Agreement”). The Company entered into a Tax Disaffiliation Agreement with Douglas Elliman that governs Vector’s and Douglas Elliman’s respective rights, responsibilities and obligations with respect to taxes and tax benefits, the filing of tax returns, the control of audits and other tax matters. Douglas Elliman will be party to other arrangements with Vector and its subsidiaries.
Douglas Elliman and its eligible subsidiaries have previously joined with Vector in the filing of certain consolidated, combined, and unitary returns for state, local, and other applicable tax purposes. However, for periods (or portions thereof) beginning after the Spin-off, Douglas Elliman will not join with Vector or any of its subsidiaries (as determined after the Spin-off) in the filing of any federal, state, local or other applicable consolidated, combined or unitary tax returns.
Under the Tax Disaffiliation Agreement, with certain exceptions, Vector will be generally responsible for all of Douglas Elliman’s U.S. federal, state, local and other applicable income and non-income taxes for any taxable period or portion of such period ending on or before the Spin-off date. Douglas Elliman will be generally responsible for all taxes that are attributable to it or one of its subsidiaries after the Spin-off date.
Following the Spin-off, there is an overlap between certain officers of the Company and of Douglas Elliman. Howard M. Lorber serves as the President and Chief Executive Officer of the Company and of Douglas Elliman. Richard J. Lampen serves as the Chief Operating Officer of the Company and of Douglas Elliman, J. Bryant Kirkland III serves as the Chief Financial Officer and Treasurer of the Company and of Douglas Elliman, Marc N. Bell serves as the General Counsel and Secretary of the Company and of Douglas Elliman, and J. David Ballard serves as Senior Vice President, Enterprise Efficiency and Chief Technology Officer of the Company and of Douglas Elliman. Furthermore, immediately following the Spin-off, three of the members of the Board of Directors of the Company, Mr. Lorber, Mr. Lampen and Wilson L. White, will also serve as directors of Douglas Elliman.
The following table presents the aggregate carrying amounts of the classes of assets and liabilities of discontinued operations of Douglas Elliman:

December 31,
2021
December 31,
2020
ASSETS:
Current assets:
Cash and cash equivalents$— $94,421 
Accounts receivable - trade, net— 24,377 
Other current assets— 29,567 
Total current assets— 148,365 
Property, plant and equipment, net— 42,703 
Long-term investments (includes $237 at fair value)
— 237 
Operating lease right-of-use assets— 133,103 
Goodwill and other intangible assets, net— 100,066 
Other assets— 29,508 
Total long-term assets— 305,617 
Total assets$— $453,982 
LIABILITIES:
Current liabilities:
   Current portion of notes payable and long-term debt$— $12,500 
   Current operating lease liability— 23,753 
Income taxes payable, net— 17 
Other current liabilities— 63,379 
Total current liabilities— 99,649 
Notes payable, long-term debt and other obligations, less current portion— 12,920 
Deferred income taxes, net— 13,512 
Non-current operating lease liability— 143,296 
Other liabilities— 34,384 
Total long-term liabilities— 204,112 
Total liabilities$— $303,761 
The financial results of Douglas Elliman through the Spin-off are presented as income (loss) from discontinued operations, net of income taxes on the Company’s consolidated statements of operations. The following table presents financial results of Douglas Elliman for the periods prior to the completion of the Spin-off:
 Year Ended December 31,
 202120202019
 (Dollars in thousands, except per share amounts)
Revenues:
   Real estate$1,344,825 $773,987 $784,108 
Expenses:  
Cost of sales989,436 547,543 526,694 
Operating, selling, administrative and general expenses253,942 212,926 260,894 
Net loss on sales of asset— 1,169 — 
Impairments of goodwill and intangible assets— 58,252 — 
Restructuring charges— 3,382 — 
Operating income (loss)101,447 (49,285)(3,480)
Other income (expenses):   
Interest expense(164)(263)(905)
Equity in (losses) earnings from real estate ventures(278)30 8,472 
Other, net(870)3,190 4,726 
Pretax income (loss) from discontinued operations100,135 (46,328)8,813 
Income tax expense28,016 (12,344)1,728 
Income (loss) from discontinued operations72,119 (33,984)7,085 
Net loss from discontinued operations attributed to non-controlling interest190 — — 
Net income (loss) from discontinued operations attributed to Vector Group Ltd.$72,309 $(33,984)$7,085 

The following table presents the information regarding certain components of cash flows from discontinued operations:
 Year Ended December 31,
 202120202019
 (Dollars in thousands, except per share amounts)
Depreciation and amortization$8,561 $8,537 $8,638 
Non-cash lease expense18,667 17,326 17,973 
Capital expenditures(4,106)(6,126)(8,079)