XML 15 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Total revenues $ 377,995 $ 298,485 $ 1,077,239 $ 907,027
Cost of sales:        
Total cost of sales 267,023 187,444 751,076 566,242
Operating, selling, administrative and general expenses 27,040 29,924 76,265 89,795
Litigation settlement and judgment expense 31 12 160 17
Net gains on sales of assets 0 (910) 0 (910)
Operating income 83,901 82,015 249,738 251,883
Other income (expenses):        
Interest expense (27,598) (28,226) (83,420) (85,019)
Gain (loss) on extinguishment of debt 412 0 412 (21,362)
Equity in (losses) earnings from investments (619) 44 (5,172) 1,562
Equity in (losses) earnings from real estate ventures (1,903) (5,694) (4,240) 12,505
Other, net (804) (1,451) (5,043) 9,868
Income before provision for income taxes 53,389 46,688 152,275 169,437
Income tax expense 14,533 16,776 41,724 52,994
Income from continuing operations 38,856 29,912 110,551 116,443
Income from discontinued operations, net of income taxes 0 18,857 0 57,588
Net income 38,856 48,769 110,551 174,031
Net loss from continuing operations attributed to non-controlling interest 0 0 0 0
Net loss from discontinued operations attributed to non-controlling interest 0 120 0 120
Net loss attributed to non-controlling interest 0 120 0 120
Net income attributed to Vector Group Ltd. from continuing operations 38,856 29,912 110,551 116,443
Net income attributed to Vector Group Ltd. from discontinued operations 0 18,977 0 57,708
Net income $ 38,856 $ 48,889 $ 110,551 $ 174,151
Per basic common share:        
Net income from continuing operations applicable to common shares (in dollars per share) $ 0.25 $ 0.19 $ 0.70 $ 0.74
Net income from discontinued operations applicable to common shares (in dollars per share) 0 0.12 0 0.37
Net income applicable to common shares (in dollars per share) 0.25 0.31 0.70 1.11
Per diluted common share:        
Net income from continuing operations applicable to common shares (in dollars per share) 0.25 0.19 0.70 0.74
Net income from discontinued operations applicable to common shares (in dollars per share) 0 0.12 0 0.37
Net income applicable to common shares (in dollars per share) $ 0.25 $ 0.31 $ 0.70 $ 1.11
Tobacco        
Revenues:        
Tobacco [1] $ 377,995 $ 297,942 $ 1,061,355 $ 895,901
Cost of sales:        
Total cost of sales [1] 267,023 186,398 743,749 556,574
Real estate        
Revenues:        
Real estate 0 543 15,884 11,126
Cost of sales:        
Total cost of sales $ 0 $ 1,046 $ 7,327 $ 9,668
[1] Revenues and cost of sales include federal excise taxes of $138,041, $106,408, $392,004, and $322,857 for the three and nine months ended September 30, 2022 and 2021, respectively.