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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 364,111 $ 377,995 $ 1,063,918 $ 1,077,239
Cost of sales:        
Total cost of sales 245,680 267,023 726,950 751,076
Operating, selling, administrative and general expenses 27,512 27,040 81,734 76,265
Litigation settlement and judgment expense 414 31 18,789 160
Operating income 90,505 83,901 236,445 249,738
Other income (expenses):        
Interest expense (27,256) (27,598) (81,854) (83,420)
Gain (loss) on extinguishment of debt 0 412 (181) 412
Equity in losses from investments (941) (619) (141) (5,172)
Equity in earnings (losses) from real estate ventures 3,739 (1,903) 4,800 (4,240)
Other, net 7,107 (804) 15,518 (5,043)
Income before provision for income taxes 73,154 53,389 174,587 152,275
Income tax expense 20,455 14,533 49,058 41,724
Net income $ 52,699 $ 38,856 $ 125,529 $ 110,551
Per basic common share:        
Net income applicable to common shares (in dollars per share) $ 0.33 $ 0.25 $ 0.80 $ 0.70
Per diluted common share:        
Net income applicable to common shares (in dollars per share) $ 0.33 $ 0.25 $ 0.80 $ 0.70
Tobacco        
Revenues:        
Total revenues [1] $ 364,111 $ 377,995 $ 1,063,918 $ 1,061,355
Cost of sales:        
Total cost of sales [1] 245,680 267,023 726,950 743,749
Real estate        
Revenues:        
Total revenues 0 0 0 15,884
Cost of sales:        
Total cost of sales $ 0 $ 0 $ 0 $ 7,327
[1] Revenues and cost of sales include federal excise taxes of $122,943, $138,041, $367,511, and $392,004 for the three and nine months ended September 30, 2023 and 2022, respectively.