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CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Total revenue $ 769,365 $ 686,970 $ 570,776
Total costs 512,525 454,239 371,535
Total gross margin 256,840 232,731 199,241
Selling, marketing and administrative expenses 155,012 121,976 132,108
Earnings from operations 101,828 110,755 67,133
Other income (expense), net 18,066 (12,614) 18,596
Earnings before income taxes 119,894 98,141 85,729
Provision for income taxes 28,008 22,249 20,421
Net earnings 91,886 75,892 65,308
Less: net earnings (loss) attributable to noncontrolling interests (26) (45) (18)
Net earnings attributable to Tootsie Roll Industries, Inc. $ 91,912 $ 75,937 $ 65,326
Net earnings attributable to Tootsie Roll Industries, Inc. per share $ 1.32 $ 1.07 $ 0.91
Average number of shares outstanding (in shares) 69,827 70,868 71,478
Product      
Total revenue $ 763,252 $ 681,440 $ 566,043
Total costs 510,737 452,552 370,105
Total gross margin 252,515 228,888 195,938
Rental and Royalty      
Total revenue 6,113 5,530 4,733
Total costs 1,788 1,687 1,430
Total gross margin $ 4,325 $ 3,843 $ 3,303