Inventories

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consisted of:

	March 31, 2023		December 31, 2022
Leaf tobacco	$	44,977	$	39,893
Other raw materials	10,579		8,808
Work-in-process	1,131		798
Finished goods	67,406		64,865
Inventories at current cost	124,093		114,364
LIFO adjustments:
Leaf tobacco	(16,249)		(15,213)
Other raw materials	(1,220)		(1,220)
Work-in-process	(25)		(25)
Finished goods	(5,924)		(5,458)
Total LIFO adjustments	(23,418)		(21,916)
	$	100,675	$	92,448

All of the Company’s inventories at March 31, 2023 and December 31, 2022 are reported under the LIFO method.

The amount of capitalized Master Settlement Agreement (“MSA”) cost in “Finished goods” inventory was $23,280 and $23,084 at March 31, 2023 and December 31, 2022, respectively. Federal excise tax capitalized in inventory was $25,222 and $26,423 at March 31, 2023 and December 31, 2022, respectively.

At March 31, 2023, Liggett had tobacco purchase commitments of approximately $7,305. Liggett has a single-source supply agreement for reduced ignition propensity cigarette paper through December 2025.