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CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue $ 686,970 $ 570,776 $ 471,063
Costs 454,239 371,535 300,702
Gross Margin 232,731 199,241 170,361
Selling, marketing and administrative expenses 121,976 132,108 112,117
Earnings from operations 110,755 67,133 58,244
Other income (expense), net (12,614) 18,596 18,018
Earnings before income taxes 98,141 85,729 76,262
Provision for income taxes 22,249 20,421 17,288
Net earnings 75,892 65,308 58,974
Less: net earnings (loss) attributable to noncontrolling interests (45) (18) (21)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 75,937 $ 65,326 $ 58,995
Net earnings attributable to Tootsie Roll Industries, Inc. per share (in dollars per share) $ 1.10 $ 0.94 $ 0.84
Average number of shares outstanding (in shares) 68,829 69,438 70,488
Product      
Revenue $ 681,440 $ 566,043 $ 467,427
Costs 452,552 370,105 299,710
Gross Margin 228,888 195,938 167,717
Rental and Royalty      
Revenue 5,530 4,733 3,636
Costs 1,687 1,430 992
Gross Margin $ 3,843 $ 3,303 $ 2,644