Financial Information


Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 281,986 $ 301,353
Investment securities at fair value 138,816 150,489
Accounts receivable - trade, net 23,321 29,481
Inventories 91,185 89,790
Income taxes receivable, net 3,576 11,217
Restricted assets 4,480 10,258
Other current assets 28,320 21,121
Total current assets 571,684 613,709
Property, plant and equipment, net 85,478 85,516
Investments in real estate, net 24,228 23,952
Long-term investments ($71,019 and $0 carried at fair value) 87,608 81,291
Investments in real estate ventures 181,011 188,131
Restricted assets 7,001 3,488
Goodwill and other intangible assets, net 267,286 267,708
Prepaid pension costs 28,077 27,697
Other assets 46,749 36,786
Total assets 1,299,122 1,328,278
Current liabilities:    
Current portion of notes payable and long-term debt 196,464 33,820
Current portion of fair value of derivatives embedded within convertible debt 25,061 0
Current payments due under the Master Settlement Agreement 50,111 12,384
Current portion of employee benefits 952 952
Income taxes payable, net 102 100
Litigation accruals 240 260
Other current liabilities 131,407 157,123
Total current liabilities 404,337 204,639
Notes payable, long-term debt and other obligations, less current portion 1,045,433 1,194,244
Fair value of derivatives embedded within convertible debt 40,785 76,413
Non-current employee benefits 62,392 62,242
Deferred income taxes, net 48,421 58,801
Payments due under the Master Settlement Agreement 18,552 21,479
Litigation accruals 20,136 19,840
Other liabilities 53,285 22,380
Total liabilities 1,693,341 1,660,038
Commitments and contingencies (Note 8)
Stockholders' deficiency:    
Preferred stock, par value $1.00 per share, 10,000,000 shares authorized 0 0
Common stock, par value $0.10 per share, 250,000,000 shares authorized,134,365,424 and 134,365,424 shares issued and outstanding 13,437 13,437
Accumulated deficit (459,996) (414,785)
Accumulated other comprehensive loss (18,357) (12,571)
Total Vector Group Ltd. stockholders' deficiency (464,916) (413,919)
Non-controlling interest 70,697 82,159
Total stockholders' deficiency (394,219) (331,760)
Total liabilities and stockholders' deficiency $ 1,299,122 $ 1,328,278
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Cash Flows [Abstract]    
Net cash provided by operating activities $ 40,714 $ 27,896
Cash flows from investing activities:    
Sale of debt securities 1,999 13,456
Maturities of debt securities 7,810 7,174
Purchase of debt securities (3,366) (14,974)
Purchase of equity securities (998) 0
Sale of equity securities 358 0
Maturities of equity securities 302 0
Purchase of long-term investments 0 (22,400)
Investments in real estate ventures (533) (1,436)
Distributions from investments in real estate ventures 219 0
Increase in cash surrender value of life insurance policies (36) (49)
(Increase) decrease in restricted assets (4) 2,104
Issuance of notes receivable 0 (1,500)
Proceeds from sale of fixed assets 0 2
Capital expenditures (3,987) (4,588)
Repayments of notes receivable 32 0
Pay downs of investment securities 446 864
Investments in real estate, net (355) (70)
Net cash provided by (used in) investing activities 1,887 (21,417)
Cash flows from financing activities:    
Proceeds from issuance of debt 0 850,000
Deferred financing costs 0 (19,200)
Repayments of debt (490) (835,697)
Borrowings under revolver 55,170 39,956
Repayments on revolver (61,728) (68,305)
Dividends and distributions on common stock (57,187) (52,358)
Proceeds from issuance of Vector common stock 0 43,230
Net cash used in financing activities (64,235) (42,374)
Net decrease in cash, cash equivalents and restricted cash (21,634) (35,895)
Cash, cash equivalents and restricted cash, beginning of period 310,937 398,608
Cash, cash equivalents and restricted cash, end of period $ 289,303 $ 362,713
Date Filed Filing Description 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
May 3, 2012 10-Q quarterly report XBRL
Feb 24, 2012 10-K annual report XBRL
Nov 3, 2011 10-Q quarterly report XBRL
Aug 4, 2011 10-Q quarterly report XBRL
May 5, 2011 10-Q quarterly report XBRL
Feb 25, 2011 10-K annual report XBRL
FirstPrevious
3
NextLast


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