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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue $ 103,229 $ 103,761
Costs 66,010 66,745
Gross Margin 37,219 37,016
Selling, marketing and administrative expenses 26,809 16,272
Earnings from operations 10,410 20,744
Other income (loss), net 3,816 (5,494)
Earnings before income taxes 14,226 15,250
Provision for income taxes 3,463 3,274
Net earnings 10,763 11,976
Less: net earnings (loss) attributable to noncontrolling interests (4) (6)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 10,767 $ 11,982
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 0.16 $ 0.17
Dividends per share (in dollars per share) [1] $ 0.09 $ 0.09
Average number of shares outstanding (in shares) 67,852 68,845
Product    
Revenue $ 101,795 $ 102,803
Costs 65,565 66,443
Gross Margin 36,230 36,360
Rental and Royalty    
Revenue 1,434 958
Costs 445 302
Gross Margin $ 989 $ 656
[1] Does not include 3% stock dividend to shareholders of record on 3/5/21 and 3/3/20.