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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 365,662 $ 387,202 $ 699,807 $ 699,244
Cost of sales:        
Total cost of sales 248,984 271,238 481,270 484,053
Operating, selling, administrative and general expenses 26,930 25,196 54,222 49,225
Litigation settlement and judgment expense 18,105 57 18,375 129
Operating income 71,643 90,711 145,940 165,837
Other income (expenses):        
Interest expense (27,124) (30,724) (54,598) (55,822)
Loss on extinguishment of debt (40) 0 (181) 0
Equity in earnings (losses) from investments 959 (2,311) 800 (4,553)
Equity in earnings (losses) from real estate ventures 2,954 (460) 1,061 (2,337)
Other, net 4,791 (3,094) 8,411 (4,239)
Income before provision for income taxes 53,183 54,122 101,433 98,886
Income tax expense 15,094 14,969 28,603 27,191
Net income $ 38,089 $ 39,153 $ 72,830 $ 71,695
Per basic common share:        
Net income applicable to common shares (in dollars per share) $ 0.24 $ 0.25 $ 0.46 $ 0.46
Per diluted common share:        
Net income applicable to common shares (in dollars per share) $ 0.24 $ 0.25 $ 0.46 $ 0.45
Tobacco        
Revenues:        
Total revenues [1] $ 365,662 $ 374,312 $ 699,807 $ 683,360
Cost of sales:        
Total cost of sales [1] 248,984 265,189 481,270 476,726
Real estate        
Revenues:        
Total revenues 0 12,890 0 15,884
Cost of sales:        
Total cost of sales $ 0 $ 6,049 $ 0 $ 7,327
[1] Revenues and cost of sales include federal excise taxes of $126,750, $137,884, $244,568, and $253,963 for the three and six months ended June 30, 2023 and 2022, respectively.