Inventories

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consisted of:

	June 30, 2023		December 31, 2022
Leaf tobacco	$	46,020	$	39,893
Other raw materials	11,232		8,808
Work-in-process	589		798
Finished goods	66,128		64,865
Inventories at current cost	123,969		114,364
LIFO adjustments:
Leaf tobacco	(17,248)		(15,213)
Other raw materials	(1,470)		(1,220)
Work-in-process	(25)		(25)
Finished goods	(6,510)		(5,458)
Total LIFO adjustments	(25,253)		(21,916)
	$	98,716	$	92,448

All of the Company’s inventories at June 30, 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 $23,050 and $23,084 at June 30, 2023 and December 31, 2022, respectively. Federal excise tax capitalized in inventory was $25,237 and $26,423 at June 30, 2023 and December 31, 2022, respectively.

At June 30, 2023, Liggett had tobacco purchase commitments of approximately $34,695. Liggett has a single-source supply agreement for reduced ignition propensity cigarette paper through December 2025.