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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenues $ 387,202 $ 337,554 $ 699,244 $ 608,542
Cost of sales:        
Total cost of sales 271,238 213,891 484,053 378,798
Operating, selling, administrative and general expenses 25,196 29,770 49,225 59,871
Litigation settlement and judgment expense 57 0 129 5
Operating income 90,711 93,893 165,837 169,868
Other income (expenses):        
Interest expense (30,724) (28,072) (55,822) (56,793)
Loss on extinguishment of debt 0 0 0 (21,362)
Equity in (losses) earnings from investments (2,311) 941 (4,553) 1,518
Equity in (losses) earnings from real estate ventures (460) 16,610 (2,337) 18,199
Other, net (3,094) 8,613 (4,239) 11,319
Income before provision for income taxes 54,122 91,985 98,886 122,749
Income tax expense 14,969 27,004 27,191 36,218
Income from continuing operations 39,153 64,981 71,695 86,531
Income from discontinued operations, net of income taxes 0 28,324 0 38,731
Net income $ 39,153 $ 93,305 $ 71,695 $ 125,262
Per basic common share:        
Net income from continuing operations applicable to common shares (in dollars per share) $ 0.25 $ 0.41 $ 0.46 $ 0.55
Net income from discontinued operations applicable to common shares (in dollars per share) 0 0.19 0 0.25
Net income applicable to common shares (in dollars per share) 0.25 0.60 0.46 0.80
Per diluted common share:        
Net income from continuing operations applicable to common shares (in dollars per share) 0.25 0.41 0.45 0.55
Net income from discontinued operations applicable to common shares (in dollars per share) 0 0.19 0 0.25
Net income applicable to common shares (in dollars per share) $ 0.25 $ 0.60 $ 0.45 $ 0.80
Tobacco        
Revenues:        
Tobacco [1] $ 374,312 $ 329,496 $ 683,360 $ 597,959
Cost of sales:        
Total cost of sales [1] 265,189 206,145 476,726 370,176
Real estate        
Revenues:        
Real estate 12,890 8,058 15,884 10,583
Cost of sales:        
Total cost of sales $ 6,049 $ 7,746 $ 7,327 $ 8,622
[1] Revenues and cost of sales include federal excise taxes of $137,884, $118,735, $253,963, and $216,449 for the three and six months ended June 30, 2022 and 2021, respectively.