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CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenue $ 471,063 $ 527,113 $ 518,920
Costs 300,702 330,097 330,747
Gross Margin 170,361 197,016 188,173
Selling, marketing and administrative expenses 112,117 127,802 117,691
Earnings from operations 58,244 69,214 70,482
Other income, net 18,018 16,190 2,724
Earnings before income taxes 76,262 85,404 73,206
Provision for income taxes 17,288 20,565 16,401
Net earnings 58,974 64,839 56,805
Less: net earnings (loss) attributable to noncontrolling interests (21) (81) (88)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 58,995 $ 64,920 $ 56,893
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 0.89 $ 0.96 $ 0.84
Average number of shares outstanding (in shares) 66,512 67,416 68,072
Product      
Revenue $ 467,427 $ 523,616 $ 515,251
Costs 299,710 329,102 329,880
Gross Margin 167,717 194,514 185,371
Rental and Royalty      
Revenue 3,636 3,497 3,669
Costs 992 995 867
Gross Margin $ 2,644 $ 2,502 $ 2,802