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CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue $ 527,113 $ 518,920 $ 519,289
Costs 330,097 330,747 327,383
Gross Margin 197,016 188,173 191,906
Selling, marketing and administrative expenses 127,802 117,691 121,484
Earnings from operations 69,214 70,482 70,422
Other income, net 16,190 2,724 14,139
Earnings before income taxes 85,404 73,206 84,561
Provision for income taxes 20,565 16,401 3,907
Net earnings 64,839 56,805 80,654
Less: net earnings (loss) attributable to noncontrolling interests (81) (88) (210)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 64,920 $ 56,893 $ 80,864
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 0.99 $ 0.86 $ 1.21
Average number of shares outstanding (in shares) 65,474 66,130 66,962
Retained earnings at beginning of period $ 33,767 $ 57,225 $ 43,833
Net earnings attributable to Tootsie Roll Industries, Inc. 64,920 56,893 80,864
Adopted ASU's (See Note 1)   2,726  
Cash dividends (23,371) (22,929) (22,548)
Stock dividends (34,507) (60,148) (44,924)
Retained earnings at end of period 40,809 33,767 57,225
Product      
Revenue 523,616 515,251 515,674
Costs 329,102 329,880 326,411
Gross Margin 194,514 185,371 189,263
Rental and Royalty      
Revenue 3,497 3,669 3,615
Costs 995 867 972
Gross Margin $ 2,502 $ 2,802 $ 2,643