v3.24.2.u1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Revenues:

Total revenues

^[1]

$ 371,914

$ 365,662

$ 696,481

$ 699,807

Cost of sales:

Total cost of sales

^[1]

244,594

248,984

462,495

481,270

Operating, selling, administrative and general expenses

29,461

26,930

58,155

54,222

Litigation settlement and judgment expense

18,105

264

18,375

Operating income

97,786

71,643

175,567

145,940

Other income (expenses):

Interest expense

(26,583)

(27,124)

(54,032)

(54,598)

Loss on extinguishment of debt

(40)

(181)

Equity in (losses) earnings from investments

(641)

959

1,497

800

Equity in (losses) earnings from real estate ventures

(1,213)

2,954

(11,934)

1,061

Other, net

5,585

4,791

11,970

8,411

Income before provision for income taxes

74,934

53,183

123,068

101,433

Income tax expense

20,756

15,094

34,090

28,603

Net income

$ 54,178

$ 38,089

$ 88,978

$ 72,830

Per basic common share:

Net income applicable to common shares (in dollars per share)

$ 0.34

$ 0.24

$ 0.56

$ 0.46

Per diluted common share:

Net income applicable to common shares (in dollars per share)

$ 0.34

$ 0.24

$ 0.56

$ 0.46

Revenue, Product and Service [Extensible Enumeration]

Tobacco [Member]

[1]	Revenues and cost of sales include federal excise taxes of $120,452, $126,750, $226,275 and $244,568 for the three and six months ended June 30, 2024 and 2023, respectively.

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

VECTOR GROUP LTD 10-Q