Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consisted of:

	December 31, 2023		December 31, 2022
Leaf tobacco	$	46,190	$	39,893
Other raw materials	9,372		8,808
Work-in-process	814		798
Finished goods	65,295		64,865
Inventories at current cost	121,671		114,364
LIFO adjustments:
Leaf tobacco	(19,941)		(15,213)
Other raw materials	(2,411)		(1,220)
Work-in-process	(105)		(25)
Finished goods	(7,255)		(5,458)
Total LIFO adjustments	(29,712)		(21,916)
	$	91,959	$	92,448

All inventories as of December 31, 2023 and 2022 were reported under the LIFO method. Cost of sales was reduced by $576 and $3,248 for the years ended December 31, 2023 and December 31, 2022, respectively, due to liquidations of LIFO inventories.

The amount of capitalized MSA cost in “Finished goods” inventory was $22,988 and $23,084 as of December 31, 2023 and 2022, respectively. Federal excise tax capitalized in inventory was $25,151 and $26,423 as of December 31, 2023 and 2022, respectively.

As of December 31, 2023, Liggett had tobacco purchase commitments of approximately $31,508. Liggett has a single source supply agreement for reduced ignition propensity cigarette paper through December 2025.