Segment Information

9 Months Ended

Sep. 30, 2011

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company's significant business segments for the three and nine months ended September 30, 2011 and 2010 were Tobacco and Real Estate.  The Tobacco segment consists of the manufacture and sale of cigarettes and the research related to reduced risk products.  The Real Estate segment includes the Company's investments in consolidated and non-consolidated real estate businesses. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

Financial information for the Company's operations before taxes for the three and nine months endedSeptember 30, 2011 and 2010 follows:

				Real			Corporate
	Tobacco			Estate			and Other			Total
Three months ended September 30, 2011
Revenues	$	288,995		$	—		$	—		$	288,995
Operating income (loss)	42,888			(947		)	(4,086		)	37,855
Equity income from non-consolidated real estate businesses	—			6,496			—			6,496
Depreciation and amortization	2,337			82			194			2,613
Three months ended September 30, 2010
Revenues	$	295,124		$	—		$	—		$	295,124
Operating income (loss)	35,531		(1)	(682		)	(4,973		)	29,876
Equity income from non-consolidated real estate businesses	—			7,060			—			7,060
Depreciation and amortization	2,062			76			578			2,716
Nine months ended September 30, 2011
Revenues	$	840,553		$	—		$	—		$	840,553
Operating income (loss)	121,527			(1,277		)	(12,952		)	107,298
Equity income from non-consolidated real estate businesses	—			17,597			—			17,597
Depreciation and amortization	6,721			242			968			7,931
Capital expenditures	8,129			139			201			8,469
Nine months ended September 30, 2010
Revenues	$	785,671		$	—		$	—		$	785,671
Operating income (loss)	96,490		(2)	(564		)	(13,955		)	81,971
Equity income from non-consolidated real estate businesses	—			18,838			—			18,838
Depreciation and amortization	6,254			220			1,737			8,211
Capital expenditures	15,319			384			27			15,730

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(1) Operating income includes a non-recurring settlement charge of $3,000.

(2) Operating income includes litigation judgment expense of $14,361 and a non-recurring settlement charge of $3,000.