Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company’s business segments were Tobacco and Real Estate. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

Financial information for the Company’s operations before taxes and non-controlling interests for the years ended December 31, 2022, 2021 and 2020 was as follows:

				Real			Corporate
	Tobacco			Estate			and Other			Total
2022
Revenues	$	1,425,125		$	15,884		$	—		$	1,441,009
Operating income (loss)	347,044		(1)	8,016			(16,050)			339,010
Equity in losses from real estate ventures	—			(5,946)			—			(5,946)
Identifiable assets	343,874			137,747		(4)	426,970		(7)	908,591
Depreciation and amortization	5,901			66			1,251			7,218
Capital expenditures	9,872			1			84			9,957
2021
Revenues	$	1,202,497		$	18,203		$	—		$	1,220,700
Operating income (loss)	360,317		(2)	4,066			(43,944)		(5)	320,439
Equity in earnings from real estate ventures	—			10,250			—			10,250
Identifiable assets of continuing operations	302,051			128,256		(4)	440,780		(7)	871,087
Depreciation and amortization	6,525			249			1,042			7,816
Capital expenditures	5,827			3			3,570			9,400
2020
Revenues	$	1,204,501		$	24,181		$	—		$	1,228,682
Operating income (loss)	319,536		(3)	(610)			(24,498)		(6)	294,428
Equity in losses from real estate ventures				(44,728)						(44,728)
Identifiable assets of continuing operations	357,518			103,523		(4)	428,386		(7)	889,427
Depreciation and amortization	7,877			337			878			9,092
Capital expenditures	4,491			100			8,346			12,937

_____________________________

(1)Includes $2,123 received from a litigation settlement associated with the MSA expense (which reduced cost of sales) and $239 of litigation settlement and judgment expense.

(2)Includes $2,722 received from a litigation settlement associated with the MSA expense (which reduced cost of sales) and $211 of litigation settlement and judgment expense.

(3)Includes $337 of litigation settlement and judgment expense and $299 of expense from MSA settlement.

(4)Includes real estate investments accounted for under the equity method of accounting of $121,117, $105,062 and $85,400 as of December 31, 2022, 2021 and 2020, respectively.

(5)Includes transaction expenses of $10,468 and accelerated stock compensation of $4,317 related to the Distribution of Douglas Elliman; and $910 of gain on sale of assets.

(6)Includes $2,283 of gain on sale of assets.

(7)Includes cash of $213,988, investment securities of $116,436 and long-term investments of $44,959 as of December 31, 2022; cash of $167,383, investment securities of $146,687, and long-term investments of $53,073 as of December 31, 2021 and cash of $211,729, investment securities of $135,585, and long-term investments of $52,291 as of December 31, 2020.