Attached files
| file | filename |
|---|---|
| EX-99.3 - EXHIBIT 99.3 - VECTOR GROUP LTD | vectorgroupfactsheetnov2.htm |
| EX-99.4 - EXHIBIT 99.4 - VECTOR GROUP LTD | newvalleyfactsheetnov201.htm |
| EX-99.2 - EXHIBIT 99.2 - VECTOR GROUP LTD | vgr-2017q3xex992sfdstockdiv.htm |
| 8-K - 8-K - VECTOR GROUP LTD | vgr-2017q3x8kstockdiv.htm |
EXHIBIT 99.1
Selected Financial Data
The following table sets forth our summary condensed consolidated financial data for the periods presented below and our earnings per share as adjusted for the stock dividends described below. The summary condensed consolidated financial data as of September 30, 2017 have been derived from our unaudited condensed consolidated financial statements. Our unaudited condensed consolidated financial statements include only normal and recurring adjustments, necessary to state fairly the data included therein.
The per-share amounts shown below have been retroactively adjusted to reflect the 5% stock dividend which was paid on September 28, 2017 to stockholders of record on September 20, 2017 (see note (2) below).
Our historical results are not necessarily indicative of the results of operations for future periods, and our results of operations for the nine-month period ended September 30, 2017 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2017. You should read the following summary condensed consolidated financial data in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our condensed consolidated financial statements and related notes included in our Quarterly Report on Form 10-Q for the period ended September 30, 2017.
Year Ended December 31, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Statement of Operations Data: | |||||||||||||||||||
Total revenues (1) | $ | 1,690,949 | $ | 1,657,197 | $ | 1,591,315 | $ | 1,079,921 | $ | 1,095,533 | |||||||||
Operating income (3) | 232,997 | 199,920 | 212,438 | 111,186 | 154,083 | ||||||||||||||
Net income attributed to Vector Group Ltd. (4) | 71,127 | 59,198 | 36,856 | 37,300 | 30,675 | ||||||||||||||
Per basic common share (2) | |||||||||||||||||||
Net income attributed to Vector Group Ltd. applicable to common shares | $ | 0.53 | $ | 0.44 | $ | 0.30 | $ | 0.33 | $ | 0.28 | |||||||||
Per diluted common share (2) | |||||||||||||||||||
Net income attributed to Vector Group Ltd. applicable to common shares | $ | 0.53 | $ | 0.44 | $ | 0.30 | $ | 0.33 | $ | 0.28 | |||||||||
Cash distributions declared per common share (2) | $ | 1.47 | $ | 1.40 | $ | 1.33 | $ | 1.27 | $ | 1.21 | |||||||||
September 30, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
Balance Sheet Data: | |||||||||||||||||||||||
Current assets | $ | 699,932 | $ | 705,463 | $ | 583,739 | $ | 751,397 | $ | 484,388 | $ | 579,336 | |||||||||||
Total assets | 1,409,904 | 1,404,035 | 1,280,615 | 1,389,042 | 1,089,965 | 967,443 | |||||||||||||||||
Current liabilities | 268,202 | 196,148 | 216,292 | 212,424 | 359,376 | 167,860 | |||||||||||||||||
Notes payable, embedded derivatives, long-term debt and other obligations, less current portion | 1,262,100 | 1,245,275 | 1,000,150 | 995,001 | 607,872 | 739,589 | |||||||||||||||||
Noncurrent employee benefits, deferred income taxes and other long-term liabilities | 197,776 | 215,884 | 186,334 | 202,297 | 173,322 | 149,064 | |||||||||||||||||
Total stockholders' deficiency | (318,174 | ) | (253,272 | ) | (122,161 | ) | (20,680 | ) | (50,605 | ) | (89,070 | ) | |||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||||||||
September 30, 2017 | June 30, 2017 | March 31, 2017 | December 31, 2016 | September 30, 2016 | June 30, 2016 | March 31, 2016 | September 30, 2017 | September 30, 2016 | |||||||||||||||||||||||||||
Statement of Operations Data: | |||||||||||||||||||||||||||||||||||
Total revenues (5) | $ | 484,625 | $ | 471,989 | $ | 415,208 | $ | 412,772 | $ | 459,104 | $ | 438,273 | $ | 380,800 | $ | 1,371,822 | $ | 1,278,177 | |||||||||||||||||
Operating income | 59,233 | 73,810 | 52,931 | 30,754 | 69,364 | 70,720 | 62,159 | 185,974 | 202,243 | ||||||||||||||||||||||||||
Net income (loss) attributed to Vector Group Ltd. | 19,264 | 26,811 | (4,227 | ) | 4,599 | 23,175 | 24,015 | 19,338 | 41,848 | 66,528 | |||||||||||||||||||||||||
Per basic common share (2) | |||||||||||||||||||||||||||||||||||
Net income (loss) attributed to Vector Group Ltd. applicable to common shares | $ | 0.13 | $ | 0.19 | $ | (0.04 | ) | $ | 0.03 | $ | 0.17 | $ | 0.18 | $ | 0.14 | $ | 0.28 | $ | 0.49 | ||||||||||||||||
Per diluted common share (2) | |||||||||||||||||||||||||||||||||||
Net income (loss) attributed to Vector Group Ltd. applicable to common shares | $ | 0.13 | $ | 0.19 | $ | (0.04 | ) | $ | 0.03 | $ | 0.17 | $ | 0.18 | $ | 0.14 | $ | 0.28 | $ | 0.49 | ||||||||||||||||
Cash distributions declared per common share (2) | $ | 0.38 | $ | 0.38 | $ | 0.38 | $ | 0.38 | $ | 0.36 | $ | 0.36 | $ | 0.36 | $ | 1.14 | $ | 1.09 | |||||||||||||||||
______________________________
(1) | Revenues include excise taxes of $425,980, $439,647, $446,086, $456,703, and $508,027, respectively. |
(2) | Per share computations include the impact of 5% stock dividends on September 28, 2017, September 29, 2016, September 29, 2015, September 26, 2014, September 27, 2013, and September 28, 2012, respectively. |
(3) | Operating income includes $247 of expense from MSA Settlements for the year ended December 31, 2016, and $4,364, $1,419 and $11,823 of income from MSA Settlements for the years ended December 31, 2015, 2014, and 2013, respectively; and $20,000, $20,072, $2,475 and $88,106 of litigation judgment and settlement expense for the years ended December 31, 2016, 2015, 2014, and 2013, respectively; and $41 and $7,257 of restructuring charges for the years ended December 31, 2016 and 2015, respectively; and $1,607 of pension settlement expense for the year ended December 31, 2015. |
(4) | Net income attributed to Vector Group Ltd. includes a gain of $36,140, net of taxes, to account for the difference between the carrying value and the fair value of the previously held 50% interest in Douglas Elliman. |
(5) | Revenues include excise taxes of $126,912, $115,194, $109,368, $112,249, $116,024, $106,861, $90,846, $351,474, and $313,731 respectively. |