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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue $ 115,458 $ 80,641 $ 218,687 $ 184,402
Costs 76,176 50,589 142,186 117,334
Gross Margin 39,282 30,052 76,501 67,068
Selling, marketing and administrative expenses 32,378 29,559 59,187 45,831
Earnings from operations 6,904 493 17,314 21,237
Other income (loss), net 6,244 9,727 10,060 4,233
Earnings before income taxes 13,148 10,220 27,374 25,470
Provision for income taxes 3,356 2,838 6,819 6,112
Net earnings 9,792 7,382 20,555 19,358
Less: net earnings (loss) attributable to noncontrolling interests (2) (6) (6) (12)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 9,794 $ 7,388 $ 20,561 $ 19,370
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 0.14 $ 0.11 $ 0.30 $ 0.28
Dividends per share (in dollars per share) [1] $ 0.09 $ 0.09 $ 0.18 $ 0.18
Average number of shares outstanding (in shares) 67,564 68,641 67,705 68,751
Product        
Revenue $ 114,560 $ 79,796 $ 216,355 $ 182,599
Costs 75,948 50,379 141,513 116,822
Gross Margin 38,612 29,417 74,842 65,777
Rental and Royalty        
Revenue 898 845 2,332 1,803
Costs 228 210 673 512
Gross Margin $ 670 $ 635 $ 1,659 $ 1,291
[1] Does not include 3% stock dividend to shareholders of record on 3/5/21 and 3/3/20.