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CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenue $ 518,920 $ 519,289 $ 521,100
Costs 330,747 327,383 321,888
Gross Margin 188,173 191,906 199,212
Selling, marketing and administrative expenses 117,691 121,484 107,979
Earnings from operations 70,482 70,422 91,233
Other income, net 2,724 14,139 6,679
Earnings before income taxes 73,206 84,561 97,912
Provision for income taxes 16,401 3,907 30,593
Net earnings 56,805 80,654 67,319
Less: Net earnings (loss) attributable to noncontrolling interests (88) (210) (191)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 56,893 $ 80,864 $ 67,510
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 0.89 $ 1.24 $ 1.02
Average number of shares outstanding (in shares) 64,216 65,048 65,955
Retained earnings at beginning of period $ 57,225 $ 43,833 $ 52,349
Net earnings attributable to Tootsie Roll Industries, Inc. 56,893 80,864 67,510
Adopted ASU's (See Note 1) 2,726    
Cash dividends (22,929) (22,548) (22,209)
Stock dividends (60,148) (44,924) (53,817)
Retained earnings at end of period 33,767 57,225 43,833
Product      
Revenue 515,251 515,674 517,373
Costs 329,880 326,411 320,869
Gross Margin 185,371 189,263 196,504
Rental and Royalty      
Revenue 3,669 3,615 3,727
Costs 867 972 1,019
Gross Margin $ 2,802 $ 2,643 $ 2,708