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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, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue $ 143,440 $ 115,458 $ 284,077 $ 218,687
Costs 95,788 76,176 188,517 142,186
Gross Margin 47,652 39,282 95,560 76,501
Selling, marketing and administrative expenses 20,674 32,378 47,747 59,187
Earnings from operations 26,978 6,904 47,813 17,314
Other income (loss), net (11,137) 6,244 (16,153) 10,060
Earnings before income taxes 15,841 13,148 31,660 27,374
Provision for income taxes 3,860 3,356 7,660 6,819
Net earnings 11,981 9,792 24,000 20,555
Less: net loss attributable to noncontrolling interests (8) (2) (16) (6)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 11,989 $ 9,794 $ 24,016 $ 20,561
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 0.17 $ 0.14 $ 0.35 $ 0.29
Dividends per share (in dollars per share) [1] $ 0.09 $ 0.09 $ 0.18 $ 0.18
Average number of shares outstanding (in shares) 68,945 69,570 68,989 69,712
Product        
Revenue $ 142,081 $ 114,560 $ 281,372 $ 216,355
Costs 95,402 75,948 187,752 141,513
Gross Margin 46,679 38,612 93,620 74,842
Rental and Royalty        
Revenue 1,359 898 2,705 2,332
Costs 386 228 765 673
Gross Margin $ 973 $ 670 $ 1,940 $ 1,659
[1] Does not include 3% stock dividend to shareholders of record on 3/7/22 and 3/5/21.