Financial Information


Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2017Dec. 31, 2016
Current assets:
 
 
Cash and cash equivalents
$ 356,687 
$ 393,530 
Investment securities available for sale
150,231 
156,903 
Accounts receivable - trade, net
14,490 
18,801 
Inventories
86,961 
89,834 
Income taxes receivable, net
19,342 
16,110 
Restricted assets
6,411 
7,330 
Other current assets
26,330 
22,955 
Total current assets
660,452 
705,463 
Property, plant and equipment, net
80,367 
80,448 
Investments in real estate, net
23,618 
23,640 
Long-term investments
73,796 
53,197 
Investments in real estate ventures
227,249 
221,258 
Restricted assets
3,750 
3,986 
Goodwill and other intangible assets, net
261,553 
261,918 
Prepaid pension costs
22,577 
22,273 
Other assets
33,710 
31,852 
Total assets
1,387,072 
1,404,035 
Current liabilities:
 
 
Current portion of notes payable and long-term debt
10,996 
39,508 
Current payments due under the Master Settlement Agreement
48,342 
16,192 
Current portion of employee benefits
937 
937 
Litigation accruals
5,707 
3,659 
Other current liabilities
125,106 
135,852 
Total current liabilities
191,088 
196,148 
Notes payable, long-term debt and other obligations, less current portion
1,143,771 
1,132,943 
Fair value of derivatives embedded within convertible debt
103,761 
112,332 
Non-current employee benefits
59,168 
58,958 
Deferred income taxes, net
92,859 
93,085 
Payments due under the Master Settlement Agreement
21,329 
22,257 
Litigation accruals
23,917 
27,513 
Other liabilities
15,449 
14,071 
Total liabilities
1,651,342 
1,657,307 
Commitments and contingencies (Note 7)
   
   
Stockholders' deficiency:
 
 
Preferred stock, par value $1.00 per share, 10,000,000 shares authorized
Common stock, par value $0.10 per share, 250,000,000 shares authorized,129,434,081 and 127,739,481 shares issued and outstanding
12,943 
12,774 
Accumulated deficit
(344,854)
(333,529)
Accumulated other comprehensive loss
(11,121)
(11,245)
Total Vector Group Ltd. stockholders' deficiency
(343,032)
(332,000)
Non-controlling interest
78,762 
78,728 
Total stockholders' deficiency
(264,270)
(253,272)
Total liabilities and stockholders' deficiency
$ 1,387,072 
$ 1,404,035 
Condensed Consolidated Statements of Cash Flows (USD $) 3 Months Ended
In Thousands, unless otherwise specified Mar. 31, 2017 Mar. 31, 2016
Statement of Cash Flows [Abstract]
 
 
Net cash provided by (used in) operating activities
$ 27,896 
$ (4,936)
Cash flows from investing activities:
 
 
Sale of investment securities
13,456 
51,218 
Maturities of investment securities
7,174 
343 
Purchase of investment securities
(14,974)
(29,112)
Purchase of long-term investments
(22,400)
Investments in real estate ventures
(1,436)
(5,795)
Distributions from investments in real estate ventures
12 
Increase in cash surrender value of life insurance policies
(49)
(62)
Decrease (increase) in restricted assets
1,156 
(3,017)
Issuance of notes receivable
(1,500)
Proceeds from sale of fixed assets
Capital expenditures
(4,588)
(3,915)
Pay downs of investment securities
864 
2,174 
Investments in real estate, net
(70)
(49)
Net cash (used in) provided by investing activities
(22,365)
11,797 
Cash flows from financing activities:
 
 
Proceeds from issuance of debt
850,000 
57 
Deferred financing costs
(19,200)
Repayments of debt
(835,697)
(1,576)
Borrowings under revolver
39,956 
59,426 
Repayments on revolver
(68,305)
(41,482)
Dividends and distributions on common stock
(52,358)
(48,876)
Contributions from non-controlling interest
248 
Distributions to non-controlling interest
(5,978)
Proceeds from issuance of Vector stock
43,230 
Net cash used in financing activities
(42,374)
(38,181)
Net decrease in cash and cash equivalents
(36,843)
(31,320)
Cash and cash equivalents, beginning of period
393,530 
240,368 
Cash and cash equivalents, end of period
$ 356,687 
$ 209,048 
Condensed Consolidated Statements of Comprehensive (Loss) Income (USD $) 3 Months Ended
In Thousands, unless otherwise specified Mar. 31, 2017 Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
 
 
Net (loss) income
$ (4,225)
$ 21,393 
Net unrealized losses on investment securities available for sale:
 
 
Change in net unrealized losses
(176)
(4,634)
Net unrealized (gains) losses reclassified into net (loss) income
(111)
4,246 
Net unrealized losses on investment securities available for sale
(287)
(388)
Net change in forward contracts
Net change in pension-related amounts
 
 
Amortization of loss
488 
445 
Net change in pension-related amounts
488 
445 
Other comprehensive income
202 
66 
Income tax effect on:
 
 
Change in net unrealized losses on investment securities
76 
1,908 
Net unrealized (gains) losses reclassified into net (loss) income on investment securities
45 
(1,745)
Forward contracts
(1)
(3)
Pension-related amounts
(198)
(183)
Income tax provision on other comprehensive income
(78)
(23)
Other comprehensive income, net of tax
124 
43 
Comprehensive (loss) income
(4,101)
21,436 
Comprehensive income attributed to non-controlling interest
(2)
(2,055)
Comprehensive (loss) income attributed to Vector Group Ltd.
$ (4,103)
$ 19,381 
Date Filed Filing Description XBRL
Oct 31, 2014 10-Q quarterly report XBRL
Jul 30, 2014 10-Q quarterly report XBRL
May 12, 2014 10-Q quarterly report XBRL
Mar 3, 2014 10-K annual report XBRL
Oct 30, 2013 10-Q quarterly report XBRL
Aug 1, 2013 10-Q quarterly report XBRL
May 1, 2013 10-Q quarterly report XBRL
Feb 28, 2013 10-K annual report XBRL
Oct 31, 2012 10-Q quarterly report XBRL
Jul 31, 2012 10-Q quarterly report XBRL
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Investor Relations Contact — US

Emily Deissler
edeissler@sardverb.com
212-687-8080

Investor Relations Contact — Europe

Conrad Harrington
charrington@sardverb.com
+44 (0)20 3178 8914