Turning Point Brands (TPB) 10-Q 15 Jun 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Jun. 14, 2016
Entity Information [Line Items]
Entity Registrant Name	Turning Point Brands, Inc.
Entity Central Index Key	1,290,677
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Voting Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		16,927,737
Nonvoting Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		938,857

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 2,940	$ 4,835
Accounts receivable, net of allowances of $137 in 2016 and 2015	2,649	3,940
Inventories	47,976	44,339
Other current assets	9,383	10,838
Total current assets	62,948	63,952
Property, plant and equipment, net	5,764	5,603
Deferred financing costs, net	191	208
Goodwill	128,697	128,697
Other intangible assets, net	8,553	8,553
Master Settlement Agreement - escrow deposits	31,856	31,842
Other assets	3,530	3,608
Total assets	241,539	242,463
Current liabilities:
Accounts payable	4,895	4,087
Accrued expenses	9,743	11,053
Accrued interest expense	866	4,329
First lien term loan	1,650	1,650
Revolving credit facility	1,018	18
Total current liabilities	18,172	21,137
Notes payable and long-term debt	290,480	290,772
Deferred income taxes	7,054	7,013
Postretirement benefits	4,638	4,666
Pension benefits	428	487
Total liabilities	$ 320,772	$ 324,075
Commitments and contingencies
Stockholders' deficit:
Preferred stock; $0.01 par value; authorized shares 40,000,000; issued and outstanding shares -0-	$ 0	$ 0
Additional paid-in capital	12,650	12,628
Accumulated other comprehensive loss	(3,389)	(3,512)
Accumulated deficit	(88,566)	(90,800)
Total stockholders' deficit	(79,233)	(81,612)
Total liabilities and stockholders' deficit	241,539	242,463
Common Stock, Voting [Member]
Stockholders' deficit:
Common stock	63	63
Common Stock, Nonvoting [Member]
Stockholders' deficit:
Common stock	$ 9	$ 9

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Accounts receivable, allowance	$ 137	$ 137
Stockholders' deficit:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	40,000,000	40,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common Stock, Voting [Member]
Stockholders' deficit:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	190,000,000	190,000,000
Common stock, shares issued (in shares)	7,312,642	7,312,642
Common stock, shares outstanding (in shares)	6,259,480	6,259,480
Common stock, shares held in treasury (in shares)	1,053,162	1,053,162
Common Stock, Nonvoting [Member]
Stockholders' deficit:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	938,857	938,857
Common stock, shares outstanding (in shares)	938,857	938,857

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Income (unaudited) [Abstract]
Net sales	$ 49,866	$ 51,086
Cost of sales	25,219	26,431
Gross profit	24,647	24,655
Selling, general and administrative expenses	13,738	12,671
Operating income	10,909	11,984
Interest expense and financing costs	8,462	8,482
Income before income taxes	2,447	3,502
Income tax expense	213	75
Net income	$ 2,234	$ 3,427
Basic earnings per common share:
Net income (in dollars per share)	$ 0.31	$ 0.48
Diluted earnings per common share:
Net income (in dollars per share)	$ 0.27	$ 0.41
Weighted average common shares outstanding:
Basic - inclusive of voting and non-voting shares (in shares)	7,198,337	7,197,523
Diluted - inclusive of voting and non-voting shares (in shares)	8,354,659	8,353,843

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income	$ 2,234	$ 3,427
Other comprehensive income, net of tax
Pension and postretirement amortization of unrealized losses	123	132
Comprehensive income	2,357	3,559
Cost of Sales [Member]
Other comprehensive income, net of tax
Pension and postretirement amortization of unrealized losses	6	6
Selling, General and Administrative Expenses [Member]
Other comprehensive income, net of tax
Pension and postretirement amortization of unrealized losses	$ 117	$ 126

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 2,234	$ 3,427
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	293	251
Amortization of deferred financing costs	362	362
Amortization of original issue discount	259	261
Interest incurred but not paid on PIK toggle notes	2,254	1,945
Deferred income taxes	41	(35)
Stock compensation expense	12	46
Member unit compensation expense	10	29
Changes in operating assets and liabilities:
Accounts receivable	1,291	(1,931)
Inventories	(3,637)	(1,742)
Other current assets	1,455	1,749
Other assets	416	(12)
Accounts payable	724	1,159
Accrued pension liabilities	64	42
Accrued postretirement liabilities	(28)	(31)
Accrued expenses and other	(4,773)	1,322
Net cash provided by operating activities	977	6,842
Cash flows from investing activities:
Capital expenditures	(454)	(327)
Net cash used in investing activities	(454)	(327)
Cash flows from financing activities:
Proceeds from revolving credit facility	1,000	93
Prepaid equity issuance costs	(268)	0
Payment of first lien term loan	(3,150)	(412)
Proceeds from issuance of stock	0	1
Net cash used in financing activities	(2,418)	(318)
Net increase (decrease) in cash	(1,895)	6,197
Cash, beginning of period	4,835	8,467
Cash, end of period	2,940	14,664
Supplemental schedule of noncash financing activities:
Accrued expenses incurred for prepaid equity costs	$ 84	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation	Note 1. Basis of Presentation: Turning Point Brands, Inc. (formerly known as North Atlantic Holding Company, Inc.), (the “Company”) is a holding company which owns NATC Holding Company, Inc. (“NATC Holding”) and its subsidiaries and Turning Point Brands, LLC (“TPLLC”) and its subsidiary, Intrepid Brands, LLC (“Intrepid”). Except where the context otherwise requires, references to the Company include the Company, NATC Holding and its subsidiary, North Atlantic Trading Company, Inc. (“NATC”) and its subsidiaries, National Tobacco Company, L.P. ), North Atlantic Operating Company, Inc. (“NAOC”), North Atlantic Cigarette Company, Inc. (“NACC”), National Tobacco Finance Corporation (“NTFC”), Fred Stoker & Sons, Inc., RBJ Sales, Inc. and Stoker, Inc. (collectively, “Stoker”) and TPLLC and Intrepid. The accompanying interim condensed consolidated financial statements have been prepared in accordance with our accounting practices described in our audited consolidated financial statements as of and for the year ended December 31, 2015, and are unaudited. In the opinion of management, the unaudited interim condensed consolidated financial statements included herein contain all adjustments necessary to present fairly our financial position, results of operations and cash flows for the periods indicated. Such adjustments, other than nonrecurring adjustments that have been separately disclosed, are of a normal, recurring nature. The operating results for interim periods are not necessarily indicative of results to be expected for a full year of future interim periods. The unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2015. The accompanying interim condensed consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States (“U.S. GAAP”) with respect to annual financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies: Consolidation: Revenue Recognition: © . Shipping Costs: Master Settlement Agreement Escrow Account: The following shows the amount of deposits by sales year for the MSA escrow account: Deposits At Sales Year March 31, 2016 December 31, 2015 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,715 3,715 2005 4,552 4,552 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,626 1,626 2010 406 406 2011 193 193 2012 198 198 2013 173 173 2014 142 142 2015 52 38 Total $ 31,856 $ 31,842 Recent Accounting Pronouncements Adopted: The Company adopted ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Cost . The Company adopted ASU 2015-17, Income Taxes ( Balance sheet classification of deferred taxes Subsequent Events: The Company’s management has evaluated events and transactions that occurred from April 1, 2016 through June 14, 2016, the date these unaudited condensed consolidated financial statements were issued, for subsequent events requiring recognition or disclosure in the financial statements. See Note 16. Subsequent Events for a description of these events.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 3. Fair Value of Financial Instruments: The following disclosure of the estimated fair value of financial instruments is made in accordance with the requirements of ASC 825, Financial Instruments. The estimated fair value amounts have been determined by the Company using the methods and assumptions described below. However, considerable judgment is required to interpret market data to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Cash and Cash Equivalents: Accounts Receivable: Revolving Credit Facility: Long-Term Debt: As of March 31, 2016, the fair value of the First Lien Term Loan and the Second Lien Term Loan approximate their face amounts of $148.6 million and $80.0 million, respectively. At December 31, 2015, the fair value of the First Lien Term Loan and the Second Lien Term Loan approximate their face amounts of $151.7 million and $80.0 million, respectively. Foreign Exchange:

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventories	Note 4. Inventories: Inventories are stated at the lower of cost or market. Cost is determined on the last-in, first-out (“LIFO”) method for approximately 56% of the inventories. Leaf tobacco is presented in current assets in accordance with standard industry practice, notwithstanding the fact that such tobaccos are carried longer than one year for the purpose of curing. The components of inventories are as follows: March 31, 2016 December 31, 2015 Raw materials and work in process $ 1,932 $ 1,940 Leaf tobacco 23,547 20,839 Finished goods - smokeless products 4,763 3,615 Finished goods - smoking products 12,498 14,077 Finished goods - electronic / vaporizer products 7,436 5,939 Other 1,417 1,237 51,593 47,647 LIFO reserve (3,617 ) (3,308 ) $ 47,976 $ 44,339 The Company recorded an inventory valuation allowance of $0.3 million as of March 31, 2016 and December 31, 2015.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 5. Property, Plant and Equipment: Property, plant and equipment at March 31, 2016 and December 31, 2015 consists of: March 31, 2016 December 31, 2015 Leasehold improvements $ 2,196 $ 2,196 Machinery and equipment 9,425 8,997 Furniture and fixtures 3,147 3,121 14,768 14,314 Accumulated depreciation (9,004 ) (8,711 ) $ 5,764 $ 5,603

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2016
Accrued Expenses [Abstract]
Accrued Expenses	Note 6. Accrued Expenses: Accrued expenses at March 31, 2016 and December 31, 2015 consist of: March 31, 2016 December 31, 2015 Accrued payroll and related items $ 4,053 $ 3,659 Customer returns and allowances 1,533 2,015 Other 4,157 5,379 $ 9,743 $ 11,053

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	3 Months Ended
	Mar. 31, 2016
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Note 7. Notes Payable and Long-Term Debt: Notes payable and long-term debt consists of the following in order of preference: March 31, 2016 December 31, 2015 First Lien Term Loan $ 147,475 $ 150,555 Second Lien Term Loan 78,943 78,882 PIK Toggle Notes 61,195 58,882 7% Senior Notes 10,429 10,360 298,042 298,679 Less deferred finance charges (5,912 ) (6,257 ) Less current maturities (1,650 ) (1,650 ) Total Notes Payable and Long-Term Debt $ 290,480 $ 290,772 Long-term Debt On January 13, 2014, NATC entered into (i) a $170 million First Lien Term Loan Credit Agreement among NATC, the Company, NATC Holding, a wholly owned subsidiary of the Company to which the Company transferred its ownership of all outstanding capital stock of NATC, and Wells Fargo Bank, National Association, as administrative agent (the “First Lien Credit Agreement”), (ii) a $80 million Second Lien Term Loan Credit Agreement among NATC, the Company, NATC Holding and Wells Fargo Bank, National Association, as administrative agent (the “Second Lien Credit Agreement”), and (iii) a $40 million ABL Credit Agreement among NATC, NATC Holding and Wells Fargo Bank, National Association, as ABL Agent (the “ABL Credit Agreement”). First Lien Credit Agreement All of NATC’s subsidiaries, as well as the Company and NATC Holding, are guarantors under the First Lien Credit Agreement. The First Lien Credit Agreement is secured by a first priority lien on substantially all of the assets of the borrowers and the guarantors (other than TPLLC) thereunder, including a pledge of the capital stock of NATC and its subsidiaries held by NATC Holding, NATC or any guarantor (other than TPLLC), other than certain excluded assets (the “Collateral”). The loans designated as LIBOR rate loans bear interest at LIBOR Rate then in effect (but not less than 1.25%) plus 6.50% and the loans designated as base rate loans bear interest at the (i) highest of (A) the Prime Rate, (B) the Federal Funds Rate plus 0.50%, (C) LIBOR for an interest period of one month plus 1.00% and (D) 2.25% per year plus (ii) 5.50%. The weighted average interest rate at March 31, 2016 was 7.78%. The First Lien Credit Agreement matures in January 2020. The First Lien Credit Agreement contains customary representations and warranties, events of default, affirmative covenants and negative covenants, which impose restrictions on, among other things, the ability of NATC and its subsidiaries to make investments, pay dividends, sell assets, and incur debt and additional liens. In addition, the First Lien Credit Agreement requires NATC to maintain a total leverage ratio as follows: Period Maximum Ratio Closing Date through March 31, 2015 6.50 to 1.00 April 1, 2015 through September 30, 2016 6.25 to 1.00 October 1, 2016 through September 30, 2017 6.00 to 1.00 October 1, 2017 through September 30, 2018 5.75 to 1.00 October 1, 2018 and thereafter 5.50 to 1.00 NATC is required to make prepayments under the First Lien Credit Agreement upon the occurrence of certain events, including sales of certain assets, casualty events and the incurrence of additional indebtedness, subject to certain exceptions and reinvestment rights. NATC made a prepayment of approximately $2.7 million during the first quarter of 2016. Second Lien Credit Agreement The Second Lien Credit Agreement has the benefit of a second priority security interest in the Collateral and is guaranteed by the same entities as the First Lien Credit Agreement. The Second Lien Credit Agreement, contains substantially similar representations and warranties, events of default and covenants as the First Lien Credit Agreement; provided, however, that the total leverage ratio required to be maintained by NATC under the Second Lien Credit Agreement is as follows: Period Maximum Ratio Closing Date through March 31, 2015 6.75 to 1.00 April 1, 2015 through September 30, 2016 6.50 to 1.00 October 1, 2016 through September 30, 2017 6.25 to 1.00 October 1, 2017 through September 30, 2018 6.00 to 1.00 October 1, 2018 and thereafter 5.75 to 1.00 Under the Second Lien Credit Agreement the loans designated as LIBOR rate loans bear interest at a rate of at LIBOR Rate then in effect (but not less than 1.25%) plus 10.25% and the loans designated as base rate loans bear interest at (i) highest of (A) the Prime Rate, (B) the Federal Funds Rate plus 0.50%, (C) LIBOR for an interest period of one month plus 1.00% and (D) 2.25% per year plus (ii) 9.25%. The weighted average interest rate at March 31, 2016 was 11.5%. The Second Lien Credit Agreement matures in July 2020. In connection with the Company’s initial public offering (“IPO) in May 2016, the Company prepaid $20 million of the borrowings under the Second Lien Credit Agreement. See Note 16. Subsequent Events. ABL Credit Agreement The ABL Credit Agreement provides for aggregate commitments of up to $40 million, subject to a borrowing base, which is calculated as the sum of (i) 85% of eligible accounts receivable, plus (ii) the lesser of (A) the product of 70% multiplied by the value of eligible inventory and (B) the product of 85% multiplied by the net recovery percentage identified in the most recent inventory appraisal multiplied by the value of eligible inventory, plus (iii) the lesser of (A) the product of 75% multiplied by the value of eligible inventory and (B) the product of 85% multiplied by the net recovery percentage identified in the most recent inventory appraisal multiplied by the value of the eligible finished goods inventory, minus (iv) the aggregate amount of reserves established by the administrative agent. The interest rates per annum applicable to loans under the ABL Credit Agreement are, at the option of NATC, equal to the applicable Base Rate or LIBOR Rate plus the applicable Interest Margin, as defined below: Pricing Level Average Excess Availability Applicable Margin for Base Rate Loans (the “Base Rate Margin”) Applicable Margin for LIBOR Rate Loans (the “LIBOR Rate Margin”) I > $30,000,000 1.25% 2.25% II < $30,000,000 but > $15,000,000 1.50% 2.50% III < $15,000,000 1.75% 2.75% The ABL Credit Agreement matures in January 2019 and the balance outstanding at March 31, 2016 was $1.0 million. The weighted average interest rate at March 31, 2016 was 5.00%. PIK Toggle Notes On January 13, 2014, the Company issued PIK Toggle Notes (“PIK Toggle Notes”) to Standard General Master Fund, L.P. (“Standard General”) with a principal amount of $45 million and warrants to purchase 42,424 of the Company’s common stock at $.01 per share, as adjusted for stock splits and other events specified in the agreement. After adjustment for the stock split effected in connection with our IPO of 10.43174381 to 1, the warrants have been adjusted to provide for the purchase of 442,558 of the Company’s common stock. Due to the issuance of the warrants, the PIK Toggle Notes had an original issue discount of $1.7 million and were initially valued at $43.3 million. The PIK Toggle Notes mature and the warrants expire on January 13, 2021. The PIK Toggle Notes accrued interest based on the LIBOR Rate then in effect (but not less than 1.25%) plus 13.75%. Interest is payable on the last day of each quarter and upon maturity. The Company had the flexibility to pay interest in kind through an increase in the principal amount at the same interest rate as the PIK Toggle Notes. The Company chose to increase the PIK Toggle Notes for all interest for the first three months of 2016 and the face amount of the PIK Toggle Notes was $62.3 million at March 31, 2016. The PIK Toggle Notes contains covenants which limit the ability of the Company to enter into transactions with affiliates and make dividends or other distributions or repurchase capital stock. The PIK Toggle Notes are unsecured and do not limit the Company’s ability to incur additional debt or liens. In connection with the IPO, in May of 2016 the Company repurchased all of the outstanding PIK Toggle Notes in exchange for a combination of cash and shares of our common stock. See Note 16. Subsequent Events. 7% Senior Notes In January of 2014, the Company issued 7% Senior Notes to various stockholders with a principal amount of $11 million and warrants to purchase 11,000,000 units of membership interests in Intrepid, which represented 40% of the Intrepid Common Units outstanding on a fully diluted basis, at a purchase price of $1.00 per unit. Due to the issuance of the Intrepid warrants, the 7% Senior Notes had an original issue discount of $2.8 million and was initially valued at $8.2 million. The 7% Senior Notes mature and the warrants expire on December 31, 2023. The 7% Senior Notes accrued interest at a fixed rate of 7% per annum. Interest is payable on the last business day of June and December in each year and provided that the Company was permitted to elect to pay all or a portion of the interest in kind. The Company made such election for all of 2014 and 2015. The face amount of the 7% Senior Notes was $12.6 million at March 31, 2016. The 7% Senior Notes are the general unsecured obligations of the Company and will rank equally with the Company’s other unsecured and unsubordinated debt from time to time outstanding. Redemptions of the 7% Senior Notes may be made by the Company at any time without penalty or premium. In connection with the IPO, in May of 2016 we repurchased all of the outstanding 7% Senior Notes in exchange for shares of our common stock. See Note 16. Subsequent Events. Restricted / Non-Restricted Condensed Consolidating Financial Statements The payment of principal and interest on the First Lien Term Loan, Second Lien Term Loan and ABL are guaranteed by or obligations of NATC and its subsidiaries (“Issuer/Restricted”). TPLLC and its subsidiary (“Non-Restricted”) are not guarantors of the First Lien Term Loan, Second Lien Term Loan and ABL. The separate financial statements of the Issuer/Restricted are not included herein because the Issuer/Restricted are the Company’s wholly-owned consolidated subsidiaries and are jointly, severally, fully and unconditionally liable for the obligations represented by the First Lien Term Loan, Second Lien Term Loan and ABL. The Company believes that the consolidating financial information for the Issuer/Restricted and the Non-Restricted provide information that is more meaningful in understanding the financial position of the Issuer/Restricted than separate financial statements of the Issuer/Restricted. The following consolidating financial information presents consolidating financial data for the Issuer/Restricted, Non-Restricted and an elimination column for adjustments to arrive at the information for the Company on a consolidated basis as of March 31, 2016 and December 31, 2015 and for the three months ended March 31, 2016 and 2015. The principal elimination entries set forth below eliminate investments in subsidiaries and intercompany balances and transactions. Turning Point Brands, Inc. Consolidating Balance Sheet March 31, 2016 (in thousands) Issuer/ Restricted Non-Restricted Eliminations Consolidated ASSETS Current assets: Cash $ 953 $ 1,987 $ - $ 2,940 Accounts receivable 2,649 - - 2,649 Inventories 40,252 7,724 - 47,976 Other current assets 6,025 3,358 - 9,383 Total current assets 49,879 13,069 - 62,948 Property, plant and equipment, net 5,639 125 - 5,764 Deferred financing costs, net 191 - - 191 Goodwill 128,697 - - 128,697 Investment in subsidiaries 35,159 - (35,159 ) - Other intangible assets, net 8,553 - - 8,553 Master Settlement Agreement - escrow deposits 31,856 - - 31,856 Other assets 3,100 430 - 3,530 Total assets $ 263,074 $ 13,624 $ (35,159 ) $ 241,539 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 4,831 $ 64 $ - $ 4,895 Accrued expenses 8,802 941 - 9,743 Accrued interest expense 866 - - 866 First lien term loan 1,650 - - 1,650 Revolving credit facility 1,018 - - 1,018 Total current liabilities 17,167 1,005 - 18,172 Notes payable and long-term debt 290,480 - - 290,480 Deferred Income Taxes 7,054 - - 7,054 Postretirement benefits 4,638 - - 4,638 Pension benefits 428 - - 428 Total Liabilities 319,767 1,005 - 320,772 Stockholders' equity (deficit): Common stock, voting 63 - - 63 Common stock, non-voting 9 - - 9 Additional paid-in capital 76,423 11,222 (74,995 ) 12,650 Advance to TPB 757 (757 ) - - Accumulated other comprehensive loss (3,389 ) - - (3,389 ) Retained earnings (accumulated deficit) (130,556 ) 2,154 39,836 (88,566 ) Total stockholders' equity (deficit) (56,693 ) 12,619 (35,159 ) (79,233 ) Total liabilities and stockholders' equity (deficit) $ 263,074 $ 13,624 $ (35,159 ) $ 241,539 Turning Point Brands, Inc. Consolidating Statement of Income for the three months ended March 31, 2016 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Net sales $ 46,224 $ 3,642 $ 49,866 Cost of sales 22,706 2,513 25,219 Gross profit 23,518 1,129 24,647 Selling, general and administrative expenses 12,725 1,013 13,738 Operating income 10,793 116 10,909 Interest expense and financing costs 8,469 (7 ) 8,462 Income before income taxes 2,324 123 2,447 Income tax expense 213 - 213 Net income $ 2,111 $ 123 $ 2,234 Turning Point Brands, Inc. Consolidating Statement of Cash Flows for the three months ended March 31, 2016 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Cash flows from operating activities: Net income $ 2,111 $ 123 $ 2,234 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 293 - 293 Amortization of deferred financing costs 362 - 362 Amortization of original issue discount 259 - 259 Interest incurred but not paid on PIK toggle notes 2,254 - 2,254 Deferred income taxes 41 - 41 Stock compensation expense 12 - 12 Member unit compensation expense - 10 10 Changes in operating assets and liabilities: Accounts receivable 1,179 112 1,291 Inventories (2,187 ) (1,450 ) (3,637 ) Other current assets (435 ) 1,890 1,455 Other assets 416 - 416 Accounts payable 709 15 724 Accrued pension liabilities 64 - 64 Accrued postretirement liabilities (28 ) - (28 ) Accrued expenses and other (4,617 ) (156 ) (4,773 ) Net cash provided by operating activities 433 544 977 Cash flows from investing activities: Capital expenditures (329 ) (125 ) (454 ) Net cash used in investing activities (329 ) (125 ) (454 ) Cash flows from financing activities: Proceeds from revolving credit facility, net 1,000 - 1,000 Prepaid equity issuance costs (268 ) - (268 ) Payments for first lien term loan (3,150 ) - (3,150 ) Net cash used in financing activities (2,418 ) - (2,418 ) Net increase (decrease) in cash (2,314 ) 419 (1,895 ) Cash, beginning of period 3,267 1,568 4,835 Cash, end of period $ 953 $ 1,987 $ 2,940 Turning Point Brands, Inc. Consolidating Balance Sheet December 31, 2015 (in thousands) Issuer/ Restricted Non-Restricted Eliminations Consolidated ASSETS Current assets: Cash $ 3,267 $ 1,568 $ - $ 4,835 Accounts receivable 3,828 112 - 3,940 Inventories 38,065 6,274 - 44,339 Other current assets 5,590 5,248 - 10,838 Total current assets 50,750 13,202 - 63,952 Property, plant and equipment, net 5,603 - - 5,603 Deferred financing costs, net 208 - - 208 Goodwill 128,697 - - 128,697 Investment in subsidiaries 31,489 - (31,489 ) - Other intangible assets, net 8,553 - - 8,553 Master Settlement Agreement - escrow deposits 31,842 - - 31,842 Other assets 3,178 430 - 3,608 Total assets $ 260,320 $ 13,632 $ (31,489 ) $ 242,463 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 4,038 $ 49 $ - $ 4,087 Accrued expenses 9,956 1,097 - 11,053 Accrued interest expense 4,329 - - 4,329 First lien term loan 1,650 - - 1,650 Revolving credit facility 18 - - 18 Total current liabilities 19,991 1,146 - 21,137 Notes payable and long-term debt 290,772 - - 290,772 Deferred Income Taxes 7,013 - - 7,013 Postretirement benefits 4,666 - - 4,666 Pension benefits 487 - - 487 Total Liabilities 322,929 1,146 - 324,075 Stockholders' equity (deficit): Common stock, voting 63 - - 63 Common stock, non-voting 9 - - 9 Additional paid-in capital 76,410 11,213 (74,995 ) 12,628 Advance to TPB 793 (793 ) - - Accumulated other comprehensive loss (3,512 ) - - (3,512 ) Retained earnings (accumulated deficit) (136,372 ) 2,066 43,506 (90,800 ) Total stockholders' equity (deficit) (62,609 ) 12,486 (31,489 ) (81,612 ) Total liabilities and stockholders' equity (deficit) $ 260,320 $ 13,632 $ (31,489 ) $ 242,463 Turning Point Brands, Inc. Consolidating Statement of Income for the three months ended March 31, 2015 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Net sales $ 45,603 $ 5,483 $ 51,086 Cost of sales 22,999 3,432 26,431 Gross profit 22,604 2,051 24,655 Selling, general and administrative expenses 11,396 1,275 12,671 Operating income 11,208 776 11,984 Interest expense and financing costs 8,450 32 8,482 Income before income taxes 2,758 744 3,502 Income tax expense 75 - 75 Net income $ 2,683 $ 744 $ 3,427 Turning Point Brands, Inc. Consolidating Statement of Cash Flows for the three months ended March 31, 2015 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Cash flows from operating activities: Net income $ 2,683 $ 744 $ 3,427 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 251 - 251 Amortization of deferred financing costs 362 - 362 Amortization of original issue discount 261 - 261 Interest incurred but not paid on PIK toggle notes 1,945 - 1,945 Deferred income taxes (35 ) - (35 ) Stock compensation expense 46 - 46 Member unit compensation expense - 29 29 Changes in operating assets and liabilities: Accounts receivable (972 ) (959 ) (1,931 ) Inventories (721 ) (1,021 ) (1,742 ) Other current assets (836 ) 2,585 1,749 Other assets (12 ) - (12 ) Accounts payable 2,153 (994 ) 1,159 Accrued pension liabilities 42 - 42 Accrued postretirement liabilities (31 ) - (31 ) Accrued expenses and other 2,088 (766 ) 1,322 Net cash provided by operating activities 7,224 (382 ) 6,842 Cash flows from investing activities: Capital expenditures (327 ) - (327 ) Issuance of note receivable (800 ) 800 - Net cash provided by (used in) investing activities (1,127 ) 800 (327 ) Cash flows from financing activities: Proceeds from (payments of) revolving credit facility, net 93 - 93 Prepaid equity issuance costs - - - Payments for first lien term loan (412 ) - (412 ) Issuance of stock 1 - 1 Net cash used in financing activities (318 ) - (318 ) Net increase in cash 5,779 418 6,197 Cash, beginning of period 8,014 453 8,467 Cash, end of period $ 13,793 $ 871 $ 14,664

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Income Taxes	Note 8. Income Taxes: The Company has determined, that at March 31, 2016, its ability to realize future benefits of certain net deferred tax assets does not meet the “more likely than not” criteria in ASC 740, Income Taxes; therefore, a valuation allowance has been recorded. The Company’s income tax expense for the three months ended March 31, 2016 does not bear the normal relationship to income before income taxes because of net operating loss carryforwards that were utilized and were partially offset by certain minimum state income taxes. The Company’s income tax expense for the three months ended March 31, 2015 does not bear the normal relationship to income before income taxes because of net operating loss carryforwards which were utilized. The Company follows the provisions of ASC 740-10-25, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company has determined that they did not have any uncertain tax positions requiring recognition under the provisions of ASC 740-10-25. The Company’s policy is to recognize interest and penalties accrued on uncertain tax positions, if any, as part of interest expense. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. In general, the Company is no longer subject to U.S. federal and state tax examinations for years prior to 2012.

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans	3 Months Ended
	Mar. 31, 2016
Pension and Postretirement Benefit Plans [Abstract]
Pension and Postretirement Benefit Plans	Note 9. Pension and Postretirement Benefit Plans: The components of Net Periodic Benefit Cost for the three months ended March 31, 2016 and 2015 are as follows: Pension Benefits Postretirement Benefits For the three months ended March 31 2016 2015 2016 2015 Service cost $ 26 $ 31 $ - $ - Interest cost 175 174 52 52 Expected return on plan assets (259 ) (295 ) - - Amortization of gains and losses 123 132 - - Net periodic benefit cost $ 65 $ 42 $ 52 $ 52 NATC has a defined benefit pension plan covering its employees. Benefits for the hourly employees are based on a stated benefit per year of service, reduced by amounts earned in a previous plan. Benefits for salaried employees are based on years of service and the employees’ final compensation. This defined benefit plan is frozen. NATC sponsored a defined benefit postretirement plan that covered hourly employees. This plan provides medical and dental benefits. This plan is contributory, with retiree contributions adjusted annually. NATC expects to contribute approximately $0.3 million to its postretirement plan in 2016 for the payment of benefits. Plan contributions and benefits have amounted to $80 and $83 for the three months ended March 31, 2016 and 2015, respectively. NATC expects to make no contributions to the pension plan in the year ending December 31, 2016.

Share Incentive Plans

Share Incentive Plans	3 Months Ended
	Mar. 31, 2016
Share Incentive Plans [Abstract]
Share Incentive Plans	Note 10. Share Incentive Plans: On February 8, 2006, the Board of Directors of the Company adopted the North Atlantic Holding Company, Inc. 2006 Equity Incentive Plan (the “2006 Plan”) and approved a form of Restricted Stock Award Agreement (the “Form Award Agreement”) pursuant to which awards under the 2006 Plan may be granted to employees. The Form Award Agreement requires, as a condition of the award, that any and all stock options (vested or otherwise) previously granted to these individuals will be immediately cancelled as of the date of the award. On March 15, 2006, the Board of Directors of the Company approved a form of Restricted Stock Award Agreement pursuant to which awards under the 2006 Plan may be granted to non-employee directors (the “Director Form Award Agreement”). The 2006 Plan provides for the granting of nonqualified stock options and restricted stock awards. Pursuant to the 2006 Plan, 2,654,910 shares of common stock of the Company are reserved for issuance as awards to employees, consultants and directors as compensation for past or future services or the attainment of certain performance goals. On August 7, 2014, the Board of Directors of the Company amended the 2006 Plan. The 2006 Plan shares were increased to a maximum of 3,651,110 shares that may be issued pursuant to awards under the 2006 Plan. In addition, the term of the 2006 Plan was extended an additional 10 years. The 2006 Plan was initially scheduled to terminate on August 6, 2026. Upon the adoption of the Company’s 2015 Equity Incentive Plan in connection with the IPO (see Note 16. Subsequent Events) the Company determined that no additional grants would be made under the 2006 Plan, however all awards issued under the plan that have not been previously terminated or forfeited remain outstanding and continue unaffected. The Board of Directors of the Company may provide that awards under the 2006 Plan shall become vested in installments over a period of time or may specify that the attainment of certain performance measures will determine the degree of vesting, or a combination of both, as set forth in the applicable award agreements. Upon the occurrence of a change in control, the grantee shall be entitled to such consideration in respect of the outstanding shares subject to the 2006 Plan on the same terms and conditions as that provided to all other stockholders of the Company. As of March 31, 2016, 1,069,129 shares of restricted stock and 1,061,097 options have been granted to employees of NATC and 41,727 shares of restricted stock and 607,229 options have been granted to current and former non-employee directors of the Company under the 2006 Plan. The total number of shares available for grant under the 2006 Plan is 871,928. Stock option activity is summarized below: Incentive Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Outstanding, December 31, 2014 1,692,051 $ 2.17 $ 1.19 Granted - Exercised (1,043 ) 1.06 0.54 Expired - Forfeited (23,337 ) 1.06 0.54 Outstanding, December 31, 2015 1,667,671 2.19 1.20 Granted - Exercised - Expired - Forfeited (388 ) 3.83 2.17 Outstanding, March 31, 2016 1,667,283 $ 2.19 $ 1.21 The total intrinsic value of options exercised and vested during the three months ended March 31, 2016 and 2015 was $0 and $7, respectively. At March 31, 2016, the outstanding stock options’ exercise price for 986,356 options is $1.06 per share all of which are exercisable. The outstanding stock options’ exercise price for 680,927 options is $3.83 per share of which 628,984 options are exercisable. The weighted average of the remaining lives of the outstanding stock options is approximately 1.6 years for the options with the $1.06 exercise price, and 6.5 years for the options with the $3.83 exercise price. NATC estimates that the expected life of all stock options is ten years from the date of grant. For the $1.06 per share options, the weighted average fair value of options was determined using the Black-Scholes model assuming a ten-year life from grant date; a current share price and exercise price of $1.06; risk free interest rate of 4.366%; a volatility of 30%; and no assumed dividend yield. Based on these assumptions, the fair value of these options is approximately $0.54 per share option granted. For the $3.83 per share options, The Company has recorded compensation expense related to the options based on the provisions of ASC 718 under which the fixed portion of such expense is determined as the fair value of the options on the date of grant and amortized over the vesting period. The Company recorded compensation expense of approximately $12 and $46 in the consolidated statements of income for the three months ended March 31, 2016 and 2015, respectively.

Unit Incentive Plans and Warran

Unit Incentive Plans and Warrants for Intrepid Brands, LLC	3 Months Ended
	Mar. 31, 2016
Unit Incentive Plans and Warrants for Intrepid Brands, LLC [Abstract]
Unit Incentive Plans and Warrants for Intrepid Brands, LLC	Note 11. Unit Incentive Plans and Warrants for Intrepid Brands, LLC: Effective August 7, 2014, the Company adopted the Intrepid Brands, LLC 2014 Option Plan (“2014 Plan”) for units of ownership in Intrepid. The purpose of the 2014 Plan is to promote the success and enhance the value of the Company by linking the personal interests of the service providers (including employees, consultants and managers) to those of Company equity holders and by providing such individuals with an incentive for outstanding performance to generate superior returns to Company equity holders. The 2014 Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of employees, consultants and managers whose judgment, interest, and special effort the successful conduct of the Company's operation is largely dependent. The Administration Committee shall determine the treatment to be afforded to a participant in the event of termination of employment for any reason including death, disability, or retirement. The 2014 Plan contains provisions for equitable adjustment of benefits in the event of a merger, consolidation, reorganization, recapitalization, stock dividend, stock split, reverse stock split, split up, spin-off, combination of shares, exchange of shares, dividend in kind or other like change in capital structure or distribution (other than normal cash dividends) to stockholders of the Company. Pursuant to the 2014 Plan, the maximum number of Common Units of Intrepid that may be issued pursuant to an exercise of Options awarded under the 2014 Plan is 1,375,000 Common Units, reduced by one such Unit for every Incentive Unit (if any) that the Company issues in accordance with the terms of its LLC Agreement. The 2014 Plan shall terminate automatically on the day preceding the tenth anniversary of its adoption unless earlier terminated pursuant to Section 11 (b) of the plan. The 2014 Plan is scheduled to terminate on August 6, 2024. As of March 31, 2016, 1,322,852 unit options have been granted to employees of NTC. The total number of units available for grant under the 2014 Plan is 52,148. Unit option activity is summarized below: Unit Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Outstanding, December 31, 2014 1,358,889 $ 1.00 $ 0.25 Granted - Exercised - Expired - Forfeited (32,047 ) 1.00 0.25 Outstanding, December 31, 2015 1,326,842 1.00 0.25 Granted - Exercised - Expired - Forfeited (3,990 ) 1.00 0.25 Outstanding, March 31, 2016 1,322,852 $ 1.00 $ 0.25 At March 31, 2016, under the 2014 Plan, the outstanding unit options’ exercise price for 1,322,852 options is $1.00 per option of which 997,648 are exercisable. The weighted average of the remaining lives of the outstanding unit options is approximately 18.3 years. The weighted average fair value of options was determined using the Black-Scholes model assuming a 20-year life from grant date; a current unit price and exercise price of $1.00; risk-free interest rate of 2.65% and a volatility of 20% and no assumed dividend yield. Based on these assumptions, the fair value of the options is approximately $0.25 per unit option granted. The Company recorded approximately $10 in the statements of income for the three months ended March 31, 2016. The Company recorded approximately $29 in the statements of income for the three months ended March 31, 2015. In connection with the IPO, in May of 2016 all options outstanding under the 2014 Plan were repurchased for aggregate cash consideration of $683 which included $22 of payroll taxes. See Note 16. Subsequent Events. In January of 2014, the Company issued warrants to purchase 11,000,000 units of membership interests in Intrepid (the “Intrepid Warrants”) concurrent with the 7% Senior Notes (see Note 7). This represented 40% of the Intrepid Common Units outstanding on a fully diluted basis, at a purchase price of $1.00 per unit. The warrants were exercisable beginning January 21, 2014 and they expire on December 31, 2023. In connection with the IPO, in May of 2016 all outstanding Intrepid Warrants were repurchased for aggregate cash consideration of approximately $5.5 million. See Note 16. Subsequent Events.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2016
Contingencies [Abstract]
Contingencies	Note 12. Contingencies: The Company is involved in various claims and actions that arise in the normal course of business. While the outcome of these legal proceedings cannot be predicted with certainty, it is the opinion of management that the resolution of the proceedings should not have a material adverse effect on the financial position, results of operations or cash flows of the Company.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 13. Earnings Per Share: The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations of net income: Three Months Ended March 31, March 31, 2016 2015 Income Shares Per Share Income Shares Per Share Net income $ 2,234 $ 3,427 Basic EPS: Weighted average 7,198,337 $ 0.31 7,197,523 $ 0.48 Diluted EPS: Effect of Dilutive securities: Stock options and warrants 1,156,322 1,156,320 8,354,659 $ 0.27 8,353,843 $ 0.41 For the three months ended March 31, 2016, weighted average options to purchase 680,927 shares of common stock were outstanding but were not included in the computation of diluted earnings per share because the options were anti-dilutive. For the three months ended March 31, 2015, weighted average options to purchase 715,618 shares of common stock were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive. Due to the IPO in May 2016, the Company’s weighted average shares and basic and diluted earnings per share are expected to change significantly for the remainder of 2016. See Note 16. Subsequent Events, for a description of the IPO and shares issued in connection herewith.

Parent-Only Financial Informati

Parent-Only Financial Information	3 Months Ended
	Mar. 31, 2016
Parent-Only Financial Information [Abstract]
Parent-Only Financial Information	Note 14. Parent-Only Financial Information: The Company is a holding company with independent operations including cash and its investments in its subsidiaries. All of NATC’s subsidiaries are wholly-owned and guarantee the First Lien Term Loan and the Second Lien Term Loan of NATC on a full, unconditional, and joint and several basis. Within the First Lien Term Loan and the Second Lien Term Loan there are no significant restrictions on the ability of NATC to obtain funds from its subsidiaries by dividend or loan, but NATC is subject to significant restrictions on its ability to pay dividends or make other payments to the Company. NATC and its subsidiaries are generally unable to pay dividends and make other restricted payments to the Company, except in limited circumstances, including (i) to pay certain costs in the ordinary course of business, (ii) to redeem, retire or otherwise acquire certain of our outstanding equity interest and (iii) to pay certain tax obligations. As a result of such restrictions on the Company’s subsidiaries’ ability to make distributions to the Company, $227,915 of its consolidated total assets are currently restricted assets of its consolidated subsidiaries, which may not be transferred to the Company in the form of loans, advances or cash dividends without the consent of a third party. The Company has disclosed the amount of restricted total assets rather than restricted net assets due to the negative net assets of the Company and its restricted subsidiaries. TPLLC and Intrepid are wholly-owned by the Company. TPLLC and its subsidiary are not guarantors of the First Lien Term Loan and Second Lien Term Loan.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Information [Abstract]
Segment Information	Note 15. Segment Information: In accordance with ASC 280, Segment Reporting, the Company has three reportable segments, (1) the Smokeless Products; (2) the Smoking Products; and (3) the NewGen Products. The Smokeless Products segment: (a) manufactures and markets moist snuff; and (b) contracts for and markets chewing tobacco products. The Smoking Products segment: (a) imports and markets cigarette papers, tubes and related products; (b) processes, packages and markets MYO cigarette tobaccos; (c) imports and markets finished cigars and MYO cigar tobaccos and cigar wraps; and (d) processes, packages and markets pipe tobaccos. The NewGen Products segment markets e-cigarettes, e-liquids, vaporizers and other related products. The Company’s products are distributed primarily through wholesale distributors in the United States. The Other segment includes the assets of the Company not assigned to the three reportable segments and Elimination includes the elimination of intercompany accounts between segments. The accounting policies of these segments are the same as those of the Company. Segment data includes a charge allocating corporate costs to the three reportable segments based on their respective Net sales. The Company evaluates the performance of its segments and allocates resources to them based on Operating income. The table below presents financial information about reported segments for the three months ended March 31, 2016 and 2015: March 31, 2016 March 31, 2015 Net Sales Smokeless Products $ 18,339 $ 17,516 Smoking Products 27,885 28,087 NewGen Products 3,642 5,483 $ 49,866 $ 51,086 Operating Income Smokeless Products $ 3,559 $ 4,523 Smoking Products 7,540 6,985 NewGen Products 116 776 Other (1) (156 ) (130 ) $ 11,059 $ 12,154 Less Eliminations (2) (150 ) (170 ) $ 10,909 $ 11,984 Interest expense and financing costs (8,462 ) (8,482 ) Income before income taxes $ 2,447 $ 3,502 Assets Smokeless Products $ 77,010 $ 88,045 Smoking Products 525,233 495,211 NewGen Products 13,624 15,647 Other (1) 32,422 32,455 648,289 631,358 Less Eliminations (2) (406,750 ) (380,598 ) $ 241,539 $ 250,760 (1) “Other” includes our assets that are not assigned to our three reportable segments, such as intercompany transfers and investments in subsidiaries. All goodwill has been allocated to our reportable segments. (2) “Elimination” includes the elimination of intercompany accounts between segments and investments in subsidiaries. Net Sales - Domestic and Foreign (in thousands) The table below presents financial information about our domestic and foreign net sales for the three months ended March 31, 2016 and 2015: Three Months Ended March 31, 2016 March 31, 2015 Domestic $ 46,974 $ 48,773 Foreign 2,892 2,313 Net Sales $ 49,866 $ 51,086

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 16. Subsequent Events In April of 2016, the Company increased the total authorized shares of preferred and voting and non-voting common stock and effected a 10.43174381 for 1 stock split of the voting and nonvoting common stock. As a result of the stock split, all previously reported share amounts, including options and warrants in the accompanying financial statements and related notes have been retrospectively restated to reflect the stock split. In May of 2016, the Company sold 6,210,000 shares of voting common stock in its IPO(including shares sold pursuant to the underwriters’ option to purchase 810,000 shares to cover over-allotments) at a price of $10.00 per share. The gross proceeds totaled $62,100. The IPO proceeds were used as follows: 1) $3,884 for the payment of expenses in connection with the Initial Public Offering; 2) $3,250 to purchase and retire Intrepid Warrants (See Note 11); 3) $34,000 to redeem and retire PIK Toggle Notes (See Note 7); 4) $20,200 to redeem and retire $20,000 face amount of Second Lien Term Notes and pay $200 as a 1% prepayment penalty (See Note 7); 5) $683 to purchase and retire all outstanding options to buy Intrepid Common Units which include $22 of payroll taxes (See Note 11); and 6) increased cash of $83. In addition, in connection with the IPO the Company also: 1) exchanged 1,289,819 shares of voting common stock to repurchase all of the outstanding 7% Senior Notes (See Note 7); 2) exchanged 3,168,438 shares of voting common stock to redeem all of the remaining outstanding PIK Toggle Notes not repurchased for cash as described above (See Note 7); and 3) paid $2,250 to retire all the remaining Intrepid Warrants (for a total expenditure of $5,500 to retire all the Intrepid Warrants). As a result of the transactions summarized above, the Company has fully repurchased and retired the PIK Toggle Notes and 7% Senior Notes (See Note 7) and fully repurchased and retired all outstanding Intrepid Warrants and options to buy Intrepid Common Units. The Company has the following voting and non-voting shares of common stock outstanding after the transactions summarized above: Voting shares outstanding before transactions 6,259,480 Shares issued by the Initial Public Offering 6,210,000 Shares issued for 7% Senior Notes 1,289,819 Shares issued for PIK Toggle Notes 3,168,438 Voting shares outstanding after transactions 16,927,737 Non-Voting shares outstanding before and after transactions 938,857

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation	Turning Point Brands, Inc. (formerly known as North Atlantic Holding Company, Inc.), (the “Company”) is a holding company which owns NATC Holding Company, Inc. (“NATC Holding”) and its subsidiaries and Turning Point Brands, LLC (“TPLLC”) and its subsidiary, Intrepid Brands, LLC (“Intrepid”). Except where the context otherwise requires, references to the Company include the Company, NATC Holding and its subsidiary, North Atlantic Trading Company, Inc. (“NATC”) and its subsidiaries, National Tobacco Company, L.P. ), North Atlantic Operating Company, Inc. (“NAOC”), North Atlantic Cigarette Company, Inc. (“NACC”), National Tobacco Finance Corporation (“NTFC”), Fred Stoker & Sons, Inc., RBJ Sales, Inc. and Stoker, Inc. (collectively, “Stoker”) and TPLLC and Intrepid. The accompanying interim condensed consolidated financial statements have been prepared in accordance with our accounting practices described in our audited consolidated financial statements as of and for the year ended December 31, 2015, and are unaudited. In the opinion of management, the unaudited interim condensed consolidated financial statements included herein contain all adjustments necessary to present fairly our financial position, results of operations and cash flows for the periods indicated. Such adjustments, other than nonrecurring adjustments that have been separately disclosed, are of a normal, recurring nature. The operating results for interim periods are not necessarily indicative of results to be expected for a full year of future interim periods. The unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2015. The accompanying interim condensed consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States (“U.S. GAAP”) with respect to annual financial statements.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Consolidation	Consolidation:
Revenue Recognition	Revenue Recognition: © .
Shipping Costs	Shipping Costs:
Master Settlement Agreement Escrow Account	Master Settlement Agreement Escrow Account: The following shows the amount of deposits by sales year for the MSA escrow account: Deposits At Sales Year March 31, 2016 December 31, 2015 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,715 3,715 2005 4,552 4,552 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,626 1,626 2010 406 406 2011 193 193 2012 198 198 2013 173 173 2014 142 142 2015 52 38 Total $ 31,856 $ 31,842
Recent Accounting Pronouncements Adopted	Recent Accounting Pronouncements Adopted: The Company adopted ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Cost . The Company adopted ASU 2015-17, Income Taxes ( Balance sheet classification of deferred taxes
Subsequent Events	Subsequent Events: The Company’s management has evaluated events and transactions that occurred from April 1, 2016 through June 14, 2016, the date these unaudited condensed consolidated financial statements were issued, for subsequent events requiring recognition or disclosure in the financial statements. See Note 16. Subsequent Events for a description of these events.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Deposits by Sales Year for MSA Escrow Account	The following shows the amount of deposits by sales year for the MSA escrow account: Deposits At Sales Year March 31, 2016 December 31, 2015 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,715 3,715 2005 4,552 4,552 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,626 1,626 2010 406 406 2011 193 193 2012 198 198 2013 173 173 2014 142 142 2015 52 38 Total $ 31,856 $ 31,842

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventories	The components of inventories are as follows: March 31, 2016 December 31, 2015 Raw materials and work in process $ 1,932 $ 1,940 Leaf tobacco 23,547 20,839 Finished goods - smokeless products 4,763 3,615 Finished goods - smoking products 12,498 14,077 Finished goods - electronic / vaporizer products 7,436 5,939 Other 1,417 1,237 51,593 47,647 LIFO reserve (3,617 ) (3,308 ) $ 47,976 $ 44,339

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment at March 31, 2016 and December 31, 2015 consists of: March 31, 2016 December 31, 2015 Leasehold improvements $ 2,196 $ 2,196 Machinery and equipment 9,425 8,997 Furniture and fixtures 3,147 3,121 14,768 14,314 Accumulated depreciation (9,004 ) (8,711 ) $ 5,764 $ 5,603

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Accrued Expenses [Abstract]
Accrued Expenses	Accrued expenses at March 31, 2016 and December 31, 2015 consist of: March 31, 2016 December 31, 2015 Accrued payroll and related items $ 4,053 $ 3,659 Customer returns and allowances 1,533 2,015 Other 4,157 5,379 $ 9,743 $ 11,053

Notes Payable and Long-Term D29

Notes Payable and Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Notes payable and long-term debt consists of the following in order of preference: March 31, 2016 December 31, 2015 First Lien Term Loan $ 147,475 $ 150,555 Second Lien Term Loan 78,943 78,882 PIK Toggle Notes 61,195 58,882 7% Senior Notes 10,429 10,360 298,042 298,679 Less deferred finance charges (5,912 ) (6,257 ) Less current maturities (1,650 ) (1,650 ) Total Notes Payable and Long-Term Debt $ 290,480 $ 290,772
Notes Payable and Long-Term Debt [Abstract]
Interest Rates Applicable to Loans under the ABL Credit Agreement	The interest rates per annum applicable to loans under the ABL Credit Agreement are, at the option of NATC, equal to the applicable Base Rate or LIBOR Rate plus the applicable Interest Margin, as defined below: Pricing Level Average Excess Availability Applicable Margin for Base Rate Loans (the “Base Rate Margin”) Applicable Margin for LIBOR Rate Loans (the “LIBOR Rate Margin”) I > $30,000,000 1.25% 2.25% II < $30,000,000 but > $15,000,000 1.50% 2.50% III < $15,000,000 1.75% 2.75%
Restricted/Non-Restricted Consolidating Balance Sheet	Turning Point Brands, Inc. Consolidating Balance Sheet March 31, 2016 (in thousands) Issuer/ Restricted Non-Restricted Eliminations Consolidated ASSETS Current assets: Cash $ 953 $ 1,987 $ - $ 2,940 Accounts receivable 2,649 - - 2,649 Inventories 40,252 7,724 - 47,976 Other current assets 6,025 3,358 - 9,383 Total current assets 49,879 13,069 - 62,948 Property, plant and equipment, net 5,639 125 - 5,764 Deferred financing costs, net 191 - - 191 Goodwill 128,697 - - 128,697 Investment in subsidiaries 35,159 - (35,159 ) - Other intangible assets, net 8,553 - - 8,553 Master Settlement Agreement - escrow deposits 31,856 - - 31,856 Other assets 3,100 430 - 3,530 Total assets $ 263,074 $ 13,624 $ (35,159 ) $ 241,539 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 4,831 $ 64 $ - $ 4,895 Accrued expenses 8,802 941 - 9,743 Accrued interest expense 866 - - 866 First lien term loan 1,650 - - 1,650 Revolving credit facility 1,018 - - 1,018 Total current liabilities 17,167 1,005 - 18,172 Notes payable and long-term debt 290,480 - - 290,480 Deferred Income Taxes 7,054 - - 7,054 Postretirement benefits 4,638 - - 4,638 Pension benefits 428 - - 428 Total Liabilities 319,767 1,005 - 320,772 Stockholders' equity (deficit): Common stock, voting 63 - - 63 Common stock, non-voting 9 - - 9 Additional paid-in capital 76,423 11,222 (74,995 ) 12,650 Advance to TPB 757 (757 ) - - Accumulated other comprehensive loss (3,389 ) - - (3,389 ) Retained earnings (accumulated deficit) (130,556 ) 2,154 39,836 (88,566 ) Total stockholders' equity (deficit) (56,693 ) 12,619 (35,159 ) (79,233 ) Total liabilities and stockholders' equity (deficit) $ 263,074 $ 13,624 $ (35,159 ) $ 241,539 Turning Point Brands, Inc. Consolidating Balance Sheet December 31, 2015 (in thousands) Issuer/ Restricted Non-Restricted Eliminations Consolidated ASSETS Current assets: Cash $ 3,267 $ 1,568 $ - $ 4,835 Accounts receivable 3,828 112 - 3,940 Inventories 38,065 6,274 - 44,339 Other current assets 5,590 5,248 - 10,838 Total current assets 50,750 13,202 - 63,952 Property, plant and equipment, net 5,603 - - 5,603 Deferred financing costs, net 208 - - 208 Goodwill 128,697 - - 128,697 Investment in subsidiaries 31,489 - (31,489 ) - Other intangible assets, net 8,553 - - 8,553 Master Settlement Agreement - escrow deposits 31,842 - - 31,842 Other assets 3,178 430 - 3,608 Total assets $ 260,320 $ 13,632 $ (31,489 ) $ 242,463 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 4,038 $ 49 $ - $ 4,087 Accrued expenses 9,956 1,097 - 11,053 Accrued interest expense 4,329 - - 4,329 First lien term loan 1,650 - - 1,650 Revolving credit facility 18 - - 18 Total current liabilities 19,991 1,146 - 21,137 Notes payable and long-term debt 290,772 - - 290,772 Deferred Income Taxes 7,013 - - 7,013 Postretirement benefits 4,666 - - 4,666 Pension benefits 487 - - 487 Total Liabilities 322,929 1,146 - 324,075 Stockholders' equity (deficit): Common stock, voting 63 - - 63 Common stock, non-voting 9 - - 9 Additional paid-in capital 76,410 11,213 (74,995 ) 12,628 Advance to TPB 793 (793 ) - - Accumulated other comprehensive loss (3,512 ) - - (3,512 ) Retained earnings (accumulated deficit) (136,372 ) 2,066 43,506 (90,800 ) Total stockholders' equity (deficit) (62,609 ) 12,486 (31,489 ) (81,612 ) Total liabilities and stockholders' equity (deficit) $ 260,320 $ 13,632 $ (31,489 ) $ 242,463
Restricted/Non-Restricted Consolidating Statement of Income	Turning Point Brands, Inc. Consolidating Statement of Income for the three months ended March 31, 2016 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Net sales $ 46,224 $ 3,642 $ 49,866 Cost of sales 22,706 2,513 25,219 Gross profit 23,518 1,129 24,647 Selling, general and administrative expenses 12,725 1,013 13,738 Operating income 10,793 116 10,909 Interest expense and financing costs 8,469 (7 ) 8,462 Income before income taxes 2,324 123 2,447 Income tax expense 213 - 213 Net income $ 2,111 $ 123 $ 2,234 Turning Point Brands, Inc. Consolidating Statement of Income for the three months ended March 31, 2015 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Net sales $ 45,603 $ 5,483 $ 51,086 Cost of sales 22,999 3,432 26,431 Gross profit 22,604 2,051 24,655 Selling, general and administrative expenses 11,396 1,275 12,671 Operating income 11,208 776 11,984 Interest expense and financing costs 8,450 32 8,482 Income before income taxes 2,758 744 3,502 Income tax expense 75 - 75 Net income $ 2,683 $ 744 $ 3,427
Restricted/Non-Restricted Consolidating Statement of Cash Flows	Turning Point Brands, Inc. Consolidating Statement of Cash Flows for the three months ended March 31, 2016 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Cash flows from operating activities: Net income $ 2,111 $ 123 $ 2,234 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 293 - 293 Amortization of deferred financing costs 362 - 362 Amortization of original issue discount 259 - 259 Interest incurred but not paid on PIK toggle notes 2,254 - 2,254 Deferred income taxes 41 - 41 Stock compensation expense 12 - 12 Member unit compensation expense - 10 10 Changes in operating assets and liabilities: Accounts receivable 1,179 112 1,291 Inventories (2,187 ) (1,450 ) (3,637 ) Other current assets (435 ) 1,890 1,455 Other assets 416 - 416 Accounts payable 709 15 724 Accrued pension liabilities 64 - 64 Accrued postretirement liabilities (28 ) - (28 ) Accrued expenses and other (4,617 ) (156 ) (4,773 ) Net cash provided by operating activities 433 544 977 Cash flows from investing activities: Capital expenditures (329 ) (125 ) (454 ) Net cash used in investing activities (329 ) (125 ) (454 ) Cash flows from financing activities: Proceeds from revolving credit facility, net 1,000 - 1,000 Prepaid equity issuance costs (268 ) - (268 ) Payments for first lien term loan (3,150 ) - (3,150 ) Net cash used in financing activities (2,418 ) - (2,418 ) Net increase (decrease) in cash (2,314 ) 419 (1,895 ) Cash, beginning of period 3,267 1,568 4,835 Cash, end of period $ 953 $ 1,987 $ 2,940 Turning Point Brands, Inc. Consolidating Statement of Cash Flows for the three months ended March 31, 2015 (in thousands) Issuer/ Restricted Non-Restricted Consolidated Cash flows from operating activities: Net income $ 2,683 $ 744 $ 3,427 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 251 - 251 Amortization of deferred financing costs 362 - 362 Amortization of original issue discount 261 - 261 Interest incurred but not paid on PIK toggle notes 1,945 - 1,945 Deferred income taxes (35 ) - (35 ) Stock compensation expense 46 - 46 Member unit compensation expense - 29 29 Changes in operating assets and liabilities: Accounts receivable (972 ) (959 ) (1,931 ) Inventories (721 ) (1,021 ) (1,742 ) Other current assets (836 ) 2,585 1,749 Other assets (12 ) - (12 ) Accounts payable 2,153 (994 ) 1,159 Accrued pension liabilities 42 - 42 Accrued postretirement liabilities (31 ) - (31 ) Accrued expenses and other 2,088 (766 ) 1,322 Net cash provided by operating activities 7,224 (382 ) 6,842 Cash flows from investing activities: Capital expenditures (327 ) - (327 ) Issuance of note receivable (800 ) 800 - Net cash provided by (used in) investing activities (1,127 ) 800 (327 ) Cash flows from financing activities: Proceeds from (payments of) revolving credit facility, net 93 - 93 Prepaid equity issuance costs - - - Payments for first lien term loan (412 ) - (412 ) Issuance of stock 1 - 1 Net cash used in financing activities (318 ) - (318 ) Net increase in cash 5,779 418 6,197 Cash, beginning of period 8,014 453 8,467 Cash, end of period $ 13,793 $ 871 $ 14,664
First Lien Credit Agreement [Member]
Notes Payable and Long-Term Debt [Abstract]
Total Leverage Ratio	The First Lien Credit Agreement contains customary representations and warranties, events of default, affirmative covenants and negative covenants, which impose restrictions on, among other things, the ability of NATC and its subsidiaries to make investments, pay dividends, sell assets, and incur debt and additional liens. In addition, the First Lien Credit Agreement requires NATC to maintain a total leverage ratio as follows: Period Maximum Ratio Closing Date through March 31, 2015 6.50 to 1.00 April 1, 2015 through September 30, 2016 6.25 to 1.00 October 1, 2016 through September 30, 2017 6.00 to 1.00 October 1, 2017 through September 30, 2018 5.75 to 1.00 October 1, 2018 and thereafter 5.50 to 1.00
Second Lien Credit Agreement [Member]
Notes Payable and Long-Term Debt [Abstract]
Total Leverage Ratio	The Second Lien Credit Agreement has the benefit of a second priority security interest in the Collateral and is guaranteed by the same entities as the First Lien Credit Agreement. The Second Lien Credit Agreement, contains substantially similar representations and warranties, events of default and covenants as the First Lien Credit Agreement; provided, however, that the total leverage ratio required to be maintained by NATC under the Second Lien Credit Agreement is as follows: Period Maximum Ratio Closing Date through March 31, 2015 6.75 to 1.00 April 1, 2015 through September 30, 2016 6.50 to 1.00 October 1, 2016 through September 30, 2017 6.25 to 1.00 October 1, 2017 through September 30, 2018 6.00 to 1.00 October 1, 2018 and thereafter 5.75 to 1.00

Pension and Postretirement Be30

Pension and Postretirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Pension and Postretirement Benefit Plans [Abstract]
Components of Net Periodic Benefit Cost	The components of Net Periodic Benefit Cost for the three months ended March 31, 2016 and 2015 are as follows: Pension Benefits Postretirement Benefits For the three months ended March 31 2016 2015 2016 2015 Service cost $ 26 $ 31 $ - $ - Interest cost 175 174 52 52 Expected return on plan assets (259 ) (295 ) - - Amortization of gains and losses 123 132 - - Net periodic benefit cost $ 65 $ 42 $ 52 $ 52

Share Incentive Plans (Tables)

Share Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Share Incentive Plans [Abstract]
Stock Option Activity	Stock option activity is summarized below: Incentive Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Outstanding, December 31, 2014 1,692,051 $ 2.17 $ 1.19 Granted - Exercised (1,043 ) 1.06 0.54 Expired - Forfeited (23,337 ) 1.06 0.54 Outstanding, December 31, 2015 1,667,671 2.19 1.20 Granted - Exercised - Expired - Forfeited (388 ) 3.83 2.17 Outstanding, March 31, 2016 1,667,283 $ 2.19 $ 1.21

Unit Incentive Plans and Warr32

Unit Incentive Plans and Warrants for Intrepid Brands, LLC (Tables)	3 Months Ended
	Mar. 31, 2016
Unit Incentive Plans and Warrants for Intrepid Brands, LLC [Abstract]
Unit Option Activity	Unit option activity is summarized below: Unit Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Outstanding, December 31, 2014 1,358,889 $ 1.00 $ 0.25 Granted - Exercised - Expired - Forfeited (32,047 ) 1.00 0.25 Outstanding, December 31, 2015 1,326,842 1.00 0.25 Granted - Exercised - Expired - Forfeited (3,990 ) 1.00 0.25 Outstanding, March 31, 2016 1,322,852 $ 1.00 $ 0.25

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations of net income: Three Months Ended March 31, March 31, 2016 2015 Income Shares Per Share Income Shares Per Share Net income $ 2,234 $ 3,427 Basic EPS: Weighted average 7,198,337 $ 0.31 7,197,523 $ 0.48 Diluted EPS: Effect of Dilutive securities: Stock options and warrants 1,156,322 1,156,320 8,354,659 $ 0.27 8,353,843 $ 0.41

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Information [Abstract]
Financial Information of Reportable Segments	The table below presents financial information about reported segments for the three months ended March 31, 2016 and 2015: March 31, 2016 March 31, 2015 Net Sales Smokeless Products $ 18,339 $ 17,516 Smoking Products 27,885 28,087 NewGen Products 3,642 5,483 $ 49,866 $ 51,086 Operating Income Smokeless Products $ 3,559 $ 4,523 Smoking Products 7,540 6,985 NewGen Products 116 776 Other (1) (156 ) (130 ) $ 11,059 $ 12,154 Less Eliminations (2) (150 ) (170 ) $ 10,909 $ 11,984 Interest expense and financing costs (8,462 ) (8,482 ) Income before income taxes $ 2,447 $ 3,502 Assets Smokeless Products $ 77,010 $ 88,045 Smoking Products 525,233 495,211 NewGen Products 13,624 15,647 Other (1) 32,422 32,455 648,289 631,358 Less Eliminations (2) (406,750 ) (380,598 ) $ 241,539 $ 250,760 (1) “Other” includes our assets that are not assigned to our three reportable segments, such as intercompany transfers and investments in subsidiaries. All goodwill has been allocated to our reportable segments. (2) “Elimination” includes the elimination of intercompany accounts between segments and investments in subsidiaries.
Net Sales - Domestic and Foreign	The table below presents financial information about our domestic and foreign net sales for the three months ended March 31, 2016 and 2015: Three Months Ended March 31, 2016 March 31, 2015 Domestic $ 46,974 $ 48,773 Foreign 2,892 2,313 Net Sales $ 49,866 $ 51,086

Subsequent Events (Tables)

Subsequent Events (Tables)	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Voting and Non-Voting Shares of Common Stock Outstanding After Subsequent Events	The Company has the following voting and non-voting shares of common stock outstanding after the transactions summarized above: Voting shares outstanding before transactions 6,259,480 Shares issued by the Initial Public Offering 6,210,000 Shares issued for 7% Senior Notes 1,289,819 Shares issued for PIK Toggle Notes 3,168,438 Voting shares outstanding after transactions 16,927,737 Non-Voting shares outstanding before and after transactions 938,857

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Shipping Costs [Abstract]
Shipping costs	$ 1,500	$ 1,800
Master Settlement Agreement Escrow Account [Abstract]
1,999	211		$ 211
2,000	1,017		1,017
2,001	1,673		1,673
2,002	2,271		2,271
2,003	4,249		4,249
2,004	3,715		3,715
2,005	4,552		4,552
2,006	3,847		3,847
2,007	4,167		4,167
2,008	3,364		3,364
2,009	1,626		1,626
2,010	406		406
2,011	193		193
2,012	198		198
2,013	173		173
2,014	142		142
2,015	52		38
Total	31,856		31,842
Recent Accounting Pronouncements Adopted [Abstract]
Debt issuance costs	$ 5,912		6,257
ASU 2015-03 [Member]
Recent Accounting Pronouncements Adopted [Abstract]
Debt issuance costs			6,300
ASU 2015-17 [Member]
Recent Accounting Pronouncements Adopted [Abstract]
Deferred income taxes			$ 400

Fair Value of Financial Instr37

Fair Value of Financial Instruments (Details) € in Millions, $ in Millions		Mar. 31, 2016USD ($)Contract	Mar. 31, 2016EUR (€)Contract	Dec. 31, 2015USD ($)Contract	Dec. 31, 2015EUR (€)Contract	Jan. 31, 2014USD ($)	Jan. 13, 2014USD ($)
Foreign Exchange [Abstract]
Foreign exchange forward contracts	[1]
Number of foreign exchange forward contracts held | Contract		2	2	7	7
PIK Toggle Notes [Member]
Long-Term Debt [Abstract]
Face amount		$ 62.3		$ 60.1			$ 45
7% Senior Notes [Member]
Long-Term Debt [Abstract]
Face amount		$ 12.6		$ 12.6		$ 11
Interest rate		7.00%	7.00%	7.00%	7.00%	7.00%
First Lien Term Loan [Member]
Long-Term Debt [Abstract]
Face amount		$ 148.6		$ 151.7			170
Second Lien Term Loan [Member]
Long-Term Debt [Abstract]
Face amount		80		80			$ 80
Fair Value [Member]
Foreign Exchange [Abstract]
Notional amount | €			€ 1.1		€ 5.1
Fair Value [Member] | PIK Toggle Notes [Member]
Long-Term Debt [Abstract]
Long-term debt		62.3		60.1
Fair Value [Member] | 7% Senior Notes [Member]
Long-Term Debt [Abstract]
Long-term debt		12.6		12.6
Fair Value [Member] | First Lien Term Loan [Member]
Long-Term Debt [Abstract]
Long-term debt		148.6		151.7
Fair Value [Member] | Second Lien Term Loan [Member]
Long-Term Debt [Abstract]
Long-term debt		$ 80		$ 80
[1]	Insignificant asset.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventories [Abstract]
Percentage of LIFO inventories	56.00%
Raw materials and work in process	$ 1,932	$ 1,940
Leaf tobacco	23,547	20,839
Other	1,417	1,237
Inventory, gross	51,593	47,647
LIFO reserve	(3,617)	(3,308)
Inventory, net	47,976	44,339
Inventory valuation allowance	300	300
Smokeless Products [Member]
Inventories [Abstract]
Finished goods	4,763	3,615
Smoking Products [Member]
Inventories [Abstract]
Finished goods	12,498	14,077
Electronic / Vaporizer Products [Member]
Inventories [Abstract]
Finished goods	$ 7,436	$ 5,939

Property, Plant and Equipment39

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 14,768	$ 14,314
Accumulated depreciation	(9,004)	(8,711)
Property, plant and equipment, net	5,764	5,603
Leasehold Improvements [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	2,196	2,196
Machinery and Equipment [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	9,425	8,997
Furniture and Fixtures [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 3,147	$ 3,121

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accrued Expenses [Abstract]
Accrued payroll and related items	$ 4,053	$ 3,659
Customer returns and allowances	1,533	2,015
Other	4,157	5,379
Total accrued expenses	$ 9,743	$ 11,053

Notes Payable and Long-Term D41

Notes Payable and Long-Term Debt, Summary of Notes Payable and Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Jan. 31, 2014	Jan. 13, 2014
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	$ 298,042	$ 298,679
Less deferred finance charges	(5,912)	(6,257)
Less current maturities	(1,650)	(1,650)
Total Notes Payable and Long-Term Debt	290,480	290,772
First Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	147,475	150,555
Face amount	148,600	151,700		$ 170,000
Second Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	78,943	78,882
Face amount	80,000	80,000		80,000
PIK Toggle Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	61,195	58,882
Face amount	62,300	60,100		45,000
7% Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	10,429	10,360
Face amount	12,600	$ 12,600	$ 11,000
ABL Credit Agreement [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity	$ 40,000			$ 40,000

Notes Payable and Long-Term D42

Notes Payable and Long-Term Debt, First Lien Credit Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Total Leverage Ratio [Abstract]
Voluntary prepayment	$ 3,150	$ 412
NATC [Member] | First Lien Credit Agreement [Member]
Notes Payable and Long-Term Debt [Abstract]
Weighted average interest rate	7.78%
Total Leverage Ratio [Abstract]
Voluntary prepayment	$ 2,700
NATC [Member] | First Lien Credit Agreement [Member] | Maximum [Member]
Total Leverage Ratio [Abstract]
Closing Date through March 31, 2015	6.50
April 1, 2015 through September 30, 2016	6.25
October 1, 2016 through September 30, 2017	6
October 1, 2017 through September 30, 2018	5.75
October 1, 2018 and thereafter	5.50
NATC [Member] | First Lien Credit Agreement LIBOR Rate Loans [Member] | LIBOR [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	6.50%
NATC [Member] | First Lien Credit Agreement LIBOR Rate Loans [Member] | LIBOR [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate	1.25%
NATC [Member] | First Lien Credit Agreement Base Rate Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate	2.25%
Margin on variable rate	5.50%
NATC [Member] | First Lien Credit Agreement Base Rate Loans [Member] | LIBOR [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	1.00%
Term of variable rate	1 month
NATC [Member] | First Lien Credit Agreement Base Rate Loans [Member] | Federal Funds Rate [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	0.50%

Notes Payable and Long-Term D43

Notes Payable and Long-Term Debt, Second Lien Credit Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	May 31, 2016	Dec. 31, 2015	Jan. 13, 2014
Second Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount	$ 80,000		$ 80,000	$ 80,000
Second Lien Term Loan [Member] | Subsequent Event [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount		$ 20,000
NATC [Member] | Second Lien Credit Agreement [Member]
Notes Payable and Long-Term Debt [Abstract]
Weighted average interest rate	11.50%
NATC [Member] | Second Lien Credit Agreement [Member] | Maximum [Member]
Total Leverage Ratio [Abstract]
Closing Date through March 31, 2015	6.75
April 1, 2015 through September 30, 2016	6.50
October 1, 2016 through September 30, 2017	6.25
October 1, 2017 through September 30, 2018	6
October 1, 2018 and thereafter	5.75
NATC [Member] | Second Lien Credit Agreement LIBOR Rate Loans [Member] | LIBOR [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	10.25%
NATC [Member] | Second Lien Credit Agreement LIBOR Rate Loans [Member] | LIBOR [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate	1.25%
NATC [Member] | Second Lien Credit Agreement Base Rate Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate	2.25%
Margin on variable rate	9.25%
NATC [Member] | Second Lien Credit Agreement Base Rate Loans [Member] | LIBOR [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	1.00%
Term of variable rate	1 month
NATC [Member] | Second Lien Credit Agreement Base Rate Loans [Member] | Federal Funds Rate [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	0.50%

Notes Payable and Long-Term D44

Notes Payable and Long-Term Debt, ABL Credit Agreement (Details) - ABL Credit Agreement [Member] - USD ($)	3 Months Ended
	Mar. 31, 2016	Jan. 13, 2014
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity	$ 40,000,000	$ 40,000,000
Borrowing base	Borrowing base, which is the sum of (i) 85% of eligible accounts receivable, plus (ii) the lesser of (A) the product of 70% multiplied by the value of eligible inventory and (B) the product of 85% multiplied by the net recovery percentage identified in the most recent inventory appraisal multiplied by the value of eligible inventory, plus (iii) the lesser of (A) the product of 75% multiplied by the value of eligible inventory and (B) the product of 85% multiplied by the net recovery percentage identified in the most recent inventory appraisal multiplied by the value of the eligible finished goods inventory, minus (iv) the aggregate amount of reserves established by the administrative agent.
Balance outstanding	$ 1,000,000
Weighted average interest rate	5.00%
NATC [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Average excess availability	$ 15,000,000
NATC [Member] | Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Average excess availability	$ 30,000,000
NATC [Member] | Base Rate [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	1.50%
NATC [Member] | Base Rate [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	1.25%
NATC [Member] | Base Rate [Member] | Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	1.75%
NATC [Member] | LIBOR [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	2.50%
NATC [Member] | LIBOR [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	2.25%
NATC [Member] | LIBOR [Member] | Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	2.75%

Notes Payable and Long-Term D45

Notes Payable and Long-Term Debt, PIK Toggle Notes (Details) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2016shares	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 13, 2014USD ($)$ / sharesshares
Subsequent Event [Member]
Notes Payable and Long-Term Debt [Abstract]
Stock split conversion ratio	10.43174381
PIK Toggle Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount		$ 62.3	$ 60.1	$ 45
Number of shares of TPB common stock that can be purchased with warrants (in shares) | shares				42,424
Purchase price of common stock (in dollars per unit) | $ / shares				$ 0.01
Original issue discount				$ 1.7
Issue price				$ 43.3
PIK Toggle Notes [Member] | Subsequent Event [Member]
Notes Payable and Long-Term Debt [Abstract]
Number of shares of TPB common stock that can be purchased with warrants (in shares) | shares	442,558
PIK Toggle Notes [Member] | LIBOR [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate		13.75%
PIK Toggle Notes [Member] | LIBOR [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate		1.25%

Notes Payable and Long-Term D46

Notes Payable and Long-Term Debt, 7% Senior Notes (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Jan. 31, 2014
Intrepid Brands, LLC [Member]
Notes Payable and Long-Term Debt [Abstract]
Number of membership units in Intrepid that can be purchased with warrants (in shares)			11,000,000
Percentage of Common Units called by warrants to total Common Units outstanding			40.00%
Purchase price of common unit (in dollars per unit)			$ 1
7% Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate	7.00%	7.00%	7.00%
Face amount	$ 12.6	$ 12.6	$ 11
Original issue discount			2.8
Issue price			$ 8.2

Notes Payable and Long-Term D47

Notes Payable and Long-Term Debt, Restricted/Non-Restricted Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets [Abstract]
Cash	$ 2,940	$ 4,835	$ 14,664	$ 8,467
Accounts receivable	2,649	3,940
Inventories	47,976	44,339
Other current assets	9,383	10,838
Total current assets	62,948	63,952
Property, plant and equipment, net	5,764	5,603
Deferred financing costs, net	191	208
Goodwill	128,697	128,697
Investment in subsidiaries	0	0
Other intangible assets, net	8,553	8,553
Master Settlement Agreement - escrow deposits	31,856	31,842
Other assets	3,530	3,608
Total assets	241,539	242,463	250,760
Current liabilities [Abstract]
Accounts payable	4,895	4,087
Accrued expenses	9,743	11,053
Accrued interest expense	866	4,329
First lien term loan	1,650	1,650
Revolving credit facility	1,018	18
Total current liabilities	18,172	21,137
Notes payable and long-term debt	290,480	290,772
Deferred income taxes	7,054	7,013
Postretirement benefits	4,638	4,666
Pension benefits	428	487
Total liabilities	320,772	324,075
Stockholders' equity (deficit) [Abstract]
Additional paid-in capital	12,650	12,628
Advance to TPB	0	0
Accumulated other comprehensive loss	(3,389)	(3,512)
Retained earnings (accumulated deficit)	(88,566)	(90,800)
Total stockholders' deficit	(79,233)	(81,612)
Total liabilities and stockholders' deficit	241,539	242,463
Eliminations [Member]
Current assets [Abstract]
Cash	0	0
Accounts receivable	0	0
Inventories	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Deferred financing costs, net	0	0
Goodwill	0	0
Investment in subsidiaries	(35,159)	(31,489)
Other intangible assets, net	0	0
Master Settlement Agreement - escrow deposits	0	0
Other assets	0	0
Total assets	(35,159)	(31,489)
Current liabilities [Abstract]
Accounts payable	0	0
Accrued expenses	0	0
Accrued interest expense	0	0
First lien term loan	0	0
Revolving credit facility	0	0
Total current liabilities	0	0
Notes payable and long-term debt	0	0
Deferred income taxes	0	0
Postretirement benefits	0	0
Pension benefits	0	0
Total liabilities	0	0
Stockholders' equity (deficit) [Abstract]
Additional paid-in capital	(74,995)	(74,995)
Advance to TPB	0	0
Accumulated other comprehensive loss	0	0
Retained earnings (accumulated deficit)	39,836	43,506
Total stockholders' deficit	(35,159)	(31,489)
Total liabilities and stockholders' deficit	(35,159)	(31,489)
Issuer/Restricted [Member]
Current assets [Abstract]
Cash	953	3,267	13,793	8,014
Accounts receivable	2,649	3,828
Inventories	40,252	38,065
Other current assets	6,025	5,590
Total current assets	49,879	50,750
Property, plant and equipment, net	5,639	5,603
Deferred financing costs, net	191	208
Goodwill	128,697	128,697
Investment in subsidiaries	35,159	31,489
Other intangible assets, net	8,553	8,553
Master Settlement Agreement - escrow deposits	31,856	31,842
Other assets	3,100	3,178
Total assets	263,074	260,320
Current liabilities [Abstract]
Accounts payable	4,831	4,038
Accrued expenses	8,802	9,956
Accrued interest expense	866	4,329
First lien term loan	1,650	1,650
Revolving credit facility	1,018	18
Total current liabilities	17,167	19,991
Notes payable and long-term debt	290,480	290,772
Deferred income taxes	7,054	7,013
Postretirement benefits	4,638	4,666
Pension benefits	428	487
Total liabilities	319,767	322,929
Stockholders' equity (deficit) [Abstract]
Additional paid-in capital	76,423	76,410
Advance to TPB	757	793
Accumulated other comprehensive loss	(3,389)	(3,512)
Retained earnings (accumulated deficit)	(130,556)	(136,372)
Total stockholders' deficit	(56,693)	(62,609)
Total liabilities and stockholders' deficit	263,074	260,320
Non-Restricted [Member]
Current assets [Abstract]
Cash	1,987	1,568	$ 871	$ 453
Accounts receivable	0	112
Inventories	7,724	6,274
Other current assets	3,358	5,248
Total current assets	13,069	13,202
Property, plant and equipment, net	125	0
Deferred financing costs, net	0	0
Goodwill	0	0
Investment in subsidiaries	0	0
Other intangible assets, net	0	0
Master Settlement Agreement - escrow deposits	0	0
Other assets	430	430
Total assets	13,624	13,632
Current liabilities [Abstract]
Accounts payable	64	49
Accrued expenses	941	1,097
Accrued interest expense	0	0
First lien term loan	0	0
Revolving credit facility	0	0
Total current liabilities	1,005	1,146
Notes payable and long-term debt	0	0
Deferred income taxes	0	0
Postretirement benefits	0	0
Pension benefits	0	0
Total liabilities	1,005	1,146
Stockholders' equity (deficit) [Abstract]
Additional paid-in capital	11,222	11,213
Advance to TPB	(757)	(793)
Accumulated other comprehensive loss	0	0
Retained earnings (accumulated deficit)	2,154	2,066
Total stockholders' deficit	12,619	12,486
Total liabilities and stockholders' deficit	13,624	13,632
Voting Common Stock [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	63	63
Voting Common Stock [Member] | Eliminations [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	0	0
Voting Common Stock [Member] | Issuer/Restricted [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	63	63
Voting Common Stock [Member] | Non-Restricted [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	0	0
Common Stock, Nonvoting [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	9	9
Common Stock, Nonvoting [Member] | Eliminations [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	0	0
Common Stock, Nonvoting [Member] | Issuer/Restricted [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	9	9
Common Stock, Nonvoting [Member] | Non-Restricted [Member]
Stockholders' equity (deficit) [Abstract]
Common stock	$ 0	$ 0

Notes Payable and Long-Term D48

Notes Payable and Long-Term Debt, Restricted/Non-Restricted Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidating Statement of Income [Abstract]
Net sales	$ 49,866	$ 51,086
Cost of sales	25,219	26,431
Gross profit	24,647	24,655
Selling, general and administrative expenses	13,738	12,671
Operating income	10,909	11,984
Interest expense and financing costs	8,462	8,482
Income before income taxes	2,447	3,502
Income tax expense	213	75
Net income	2,234	3,427
Issuer/Restricted [Member]
Consolidating Statement of Income [Abstract]
Net sales	46,224	45,603
Cost of sales	22,706	22,999
Gross profit	23,518	22,604
Selling, general and administrative expenses	12,725	11,396
Operating income	10,793	11,208
Interest expense and financing costs	8,469	8,450
Income before income taxes	2,324	2,758
Income tax expense	213	75
Net income	2,111	2,683
Non-Restricted [Member]
Consolidating Statement of Income [Abstract]
Net sales	3,642	5,483
Cost of sales	2,513	3,432
Gross profit	1,129	2,051
Selling, general and administrative expenses	1,013	1,275
Operating income	116	776
Interest expense and financing costs	(7)	32
Income before income taxes	123	744
Income tax expense	0	0
Net income	$ 123	$ 744

Notes Payable and Long-Term D49

Notes Payable and Long-Term Debt, Restricted/Non-Restricted Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities [Abstract]
Net income	$ 2,234	$ 3,427
Adjustments to reconcile net income to net cash provided by operating activities [Abstract]
Depreciation expense	293	251
Amortization of deferred financing costs	362	362
Amortization of original issue discount	259	261
Interest incurred but not paid on PIK toggle notes	2,254	1,945
Deferred income taxes	41	(35)
Stock compensation expense	12	46
Member unit compensation expense	10	29
Changes in operating assets and liabilities [Abstract]
Accounts receivable	1,291	(1,931)
Inventories	(3,637)	(1,742)
Other current assets	1,455	1,749
Other assets	416	(12)
Accounts payable	724	1,159
Accrued pension liabilities	64	42
Accrued postretirement liabilities	(28)	(31)
Accrued expenses and other	(4,773)	1,322
Net cash provided by operating activities	977	6,842
Cash flows from investing activities [Abstract]
Capital expenditures	(454)	(327)
Issuance of note receivable		0
Net cash used in investing activities	(454)	(327)
Cash flows from financing activities [Abstract]
Proceeds from (payments of) revolving credit facility, net	1,000	93
Prepaid equity issuance costs	(268)	0
Payment of first lien term loan	(3,150)	(412)
Issuance of stock	0	1
Net cash used in financing activities	(2,418)	(318)
Net increase (decrease) in cash	(1,895)	6,197
Cash, beginning of period	4,835	8,467
Cash, end of period	2,940	14,664
Issuer/Restricted [Member]
Cash flows from operating activities [Abstract]
Net income	2,111	2,683
Adjustments to reconcile net income to net cash provided by operating activities [Abstract]
Depreciation expense	293	251
Amortization of deferred financing costs	362	362
Amortization of original issue discount	259	261
Interest incurred but not paid on PIK toggle notes	2,254	1,945
Deferred income taxes	41	(35)
Stock compensation expense	12	46
Member unit compensation expense	0	0
Changes in operating assets and liabilities [Abstract]
Accounts receivable	1,179	(972)
Inventories	(2,187)	(721)
Other current assets	(435)	(836)
Other assets	416	(12)
Accounts payable	709	2,153
Accrued pension liabilities	64	42
Accrued postretirement liabilities	(28)	(31)
Accrued expenses and other	(4,617)	2,088
Net cash provided by operating activities	433	7,224
Cash flows from investing activities [Abstract]
Capital expenditures	(329)	(327)
Issuance of note receivable		(800)
Net cash used in investing activities	(329)	(1,127)
Cash flows from financing activities [Abstract]
Proceeds from (payments of) revolving credit facility, net	1,000	93
Prepaid equity issuance costs	(268)	0
Payment of first lien term loan	(3,150)	(412)
Issuance of stock		1
Net cash used in financing activities	(2,418)	(318)
Net increase (decrease) in cash	(2,314)	5,779
Cash, beginning of period	3,267	8,014
Cash, end of period	953	13,793
Non-Restricted [Member]
Cash flows from operating activities [Abstract]
Net income	123	744
Adjustments to reconcile net income to net cash provided by operating activities [Abstract]
Depreciation expense	0	0
Amortization of deferred financing costs	0	0
Amortization of original issue discount	0	0
Interest incurred but not paid on PIK toggle notes	0	0
Deferred income taxes	0	0
Stock compensation expense	0	0
Member unit compensation expense	10	29
Changes in operating assets and liabilities [Abstract]
Accounts receivable	112	(959)
Inventories	(1,450)	(1,021)
Other current assets	1,890	2,585
Other assets	0	0
Accounts payable	15	(994)
Accrued pension liabilities	0	0
Accrued postretirement liabilities	0	0
Accrued expenses and other	(156)	(766)
Net cash provided by operating activities	544	(382)
Cash flows from investing activities [Abstract]
Capital expenditures	(125)	0
Issuance of note receivable		800
Net cash used in investing activities	(125)	800
Cash flows from financing activities [Abstract]
Proceeds from (payments of) revolving credit facility, net	0	0
Prepaid equity issuance costs	0	0
Payment of first lien term loan	0	0
Issuance of stock		0
Net cash used in financing activities	0	0
Net increase (decrease) in cash	419	418
Cash, beginning of period	1,568	453
Cash, end of period	$ 1,987	$ 871

Pension and Postretirement Be50

Pension and Postretirement Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
NATC [Member]
Plan Contributions [Abstract]
Plan contributions	$ 80	$ 83
Pension Benefits [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	26	31
Interest cost	175	174
Expected return on plan assets	(259)	(295)
Amortization of gains and losses	123	132
Net periodic benefit cost	65	42
Pension Benefits [Member] | NATC [Member]
Plan Contributions [Abstract]
Expected contribution to plan in 2016	0
Postretirement Benefits [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	0	0
Interest cost	52	52
Expected return on plan assets	0	0
Amortization of gains and losses	0	0
Net periodic benefit cost	52	$ 52
Postretirement Benefits [Member] | NATC [Member]
Plan Contributions [Abstract]
Expected contribution to plan in 2016	$ 300

Share Incentive Plans (Details)

Share Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Aug. 07, 2014	Mar. 15, 2006
Compensation Expense [Abstract]
Stock compensation expense	$ 12	$ 46
2006 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)				3,651,110	2,654,910
Term of plan extension	10 years
Number of shares available for grant (in shares)	871,928
2006 Plan [Member] | Restricted Stock [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	1,069,129
2006 Plan [Member] | Restricted Stock [Member] | Current and Former Non-Employee Directors [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	41,727
2006 Plan [Member] | Stock Options [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	1,061,097
Incentive Shares [Roll Forward]
Outstanding, beginning balance (in shares)	1,667,671	1,692,051	1,692,051
Granted (in shares)	0		0
Exercised (in shares)	0		(1,043)
Expired (in shares)	0		0
Forfeited (in shares)	(388)		(23,337)
Outstanding, ending balance (in shares)	1,667,283		1,667,671
Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 2.19	$ 2.17	$ 2.17
Exercised (in dollars per share)			1.06
Forfeited (in dollars per share)	3.83		1.06
Outstanding, ending balance (in dollars per share)	2.19		2.19
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)	1.20	$ 1.19	1.19
Exercised (in dollars per share)			0.54
Forfeited (in dollars per share)	2.17		0.54
Outstanding, ending balance (in dollars per share)	$ 1.21		$ 1.20
Intrinsic value of options exercised and vested	$ 0	$ 7
Fair Value Assumptions [Abstract]
Expected life of stock options	10 years
2006 Plan [Member] | Stock Options [Member] | Exercise Price $1.06 [Member]
Incentive Shares [Roll Forward]
Outstanding, ending balance (in shares)	986,356
Weighted Average Exercise Price [Abstract]
Outstanding, ending balance (in dollars per share)	$ 1.06
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, ending balance (in dollars per share)	$ 0.54
Number of options exercisable (in shares)	986,356
Weighted average remaining contractual term	1 year 7 months 6 days
Fair Value Assumptions [Abstract]
Expected life of stock options	10 years
Assumed exercise price (in dollars per share)	$ 1.06
Risk-free interest rate	4.366%
Volatility	30.00%
Dividend yield	0.00%
2006 Plan [Member] | Stock Options [Member] | Exercise Price $3.83 [Member]
Incentive Shares [Roll Forward]
Outstanding, ending balance (in shares)	680,927
Weighted Average Exercise Price [Abstract]
Outstanding, ending balance (in dollars per share)	$ 3.83
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, ending balance (in dollars per share)	$ 2.17
Number of options exercisable (in shares)	628,984
Weighted average remaining contractual term	6 years 6 months
Fair Value Assumptions [Abstract]
Expected life of stock options	10 years
Assumed exercise price (in dollars per share)	$ 3.83
Risk-free interest rate	3.57%
Volatility	40.00%
Dividend yield	0.00%
2006 Plan [Member] | Stock Options [Member] | Current and Former Non-Employee Directors [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	607,229

Unit Incentive Plans and Warr52

Unit Incentive Plans and Warrants for Intrepid Brands, LLC (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	May 31, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Jan. 31, 2014
Compensation Expense [Abstract]
Member unit compensation expense		$ 10	$ 29
Subsequent Event [Member]
Purchase of Options [Abstract]
Payments to repurchase and retire options to buy Intrepid Common Units	$ 683
Payroll taxes related to payments for repurchase of options	22
Warrants [Abstract]
Payment to purchase and retire Intrepid Warrants	$ 5,500
7% Senior Notes [Member]
Warrants [Abstract]
Interest rate		7.00%		7.00%	7.00%
Intrepid [Member]
Warrants [Abstract]
Number of membership units in Intrepid that can be purchased with warrants (in shares)					11,000,000
Percentage of Common Units called by warrants to total Common Units outstanding					40.00%
Purchase price of common unit (in dollars per unit)					$ 1
2014 Plan [Member] | Intrepid [Member]
Unit Incentive Plans [Abstract]
Number of Common Units authorized for issuance (in shares)		1,375,000
Number of Common Units reduced for every Incentive Unit issued (in shares)		1
2014 Plan [Member] | Membership Unit Options [Member]
Unit Incentive Plans [Abstract]
Number of units granted (in shares)		1,322,852
Number of units available for grant (in shares)		52,148
Incentive Shares [Roll Forward]
Outstanding, beginning balance (in shares)		1,326,842	1,358,889	1,358,889
Granted (in shares)		0		0
Exercised (in shares)		0		0
Expired (in shares)		0		0
Forfeited (in shares)		(3,990)		(32,047)
Outstanding, ending balance (in shares)		1,322,852		1,326,842
Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share)		$ 1	$ 1	$ 1
Forfeited (in dollars per share)		1		1
Outstanding, ending balance (in dollars per share)		1		1
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)		0.25	$ 0.25	0.25
Forfeited (in dollars per share)		0.25		0.25
Outstanding, ending balance (in dollars per share)		$ 0.25		$ 0.25
Number of unit options exercisable (in shares)		997,648
Weighted average remaining contractual term		18 years 3 months 18 days
Fair Value Assumptions [Abstract]
Expected life of unit options		20 years
Assumed exercise price (in dollars per share)		$ 1
Risk-free interest rate		2.65%
Volatility		20.00%
Dividend yield		0.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income	$ 2,234	$ 3,427
Basic EPS [Abstract]
Basic weighted average shares (in shares)	7,198,337	7,197,523
Basic EPS (in dollars per share)	$ 0.31	$ 0.48
Effect of Dilutive securities [Abstract]
Stock options and warrants (in shares)	1,156,322	1,156,320
Diluted weighted average shares (in shares)	8,354,659	8,353,843
Diluted EPS (in dollars per share)	$ 0.27	$ 0.41
Stock Options [Member]
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings (in shares)	680,927	715,618

Parent-Only Financial Informa54

Parent-Only Financial Information (Details) $ in Thousands	Mar. 31, 2016USD ($)
Parent-Only Financial Information [Abstract]
Restricted assets of consolidated subsidiaries	$ 227,915

Segment Information, Financial

Segment Information, Financial Information of Reportable Segments (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2016USD ($)Segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Information [Abstract]
Number of reportable segments | Segment		3
Segment Information [Abstract]
Net sales		$ 49,866	$ 51,086
Operating income		10,909	11,984
Interest expense and financing costs		(8,462)	(8,482)
Income before income taxes		2,447	3,502
Assets		241,539	250,760	$ 242,463
Other [Member]
Segment Information [Abstract]
Operating income	[1]	(156)	(130)
Assets	[1]	32,422	32,455
Reportable Segments [Member]
Segment Information [Abstract]
Operating income		11,059	12,154
Assets		648,289	631,358
Reportable Segments [Member] | Smokeless Products [Member]
Segment Information [Abstract]
Net sales		18,339	17,516
Operating income		3,559	4,523
Assets		77,010	88,045
Reportable Segments [Member] | Smoking Products [Member]
Segment Information [Abstract]
Net sales		27,885	28,087
Operating income		7,540	6,985
Assets		525,233	495,211
Reportable Segments [Member] | NewGen Products [Member]
Segment Information [Abstract]
Net sales		3,642	5,483
Operating income		116	776
Assets		13,624	15,647
Eliminations [Member]
Segment Information [Abstract]
Operating income	[2]	(150)	(170)
Assets	[2]	$ (406,750)	$ (380,598)
[1]	"Other" includes our assets that are not assigned to our three reportable segments, such as intercompany transfers and investments in subsidiaries. All goodwill has been allocated to our reportable segments.
[2]	"Elimination" includes the elimination of intercompany accounts between segments and investments in subsidiaries.

Segment Information, Net Sales

Segment Information, Net Sales - Domestic and Foreign (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Information [Abstract]
Net sales	$ 49,866	$ 51,086
Reportable Geographical Components [Member] | Domestic [Member]
Segment Information [Abstract]
Net sales	46,974	48,773
Reportable Geographical Components [Member] | Foreign [Member]
Segment Information [Abstract]
Net sales	$ 2,892	$ 2,313

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended
	May 31, 2016USD ($)$ / sharesshares	Apr. 30, 2016shares	Mar. 31, 2016USD ($)shares	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Jan. 31, 2014USD ($)	Jan. 13, 2014USD ($)
Subsequent Event [Abstract]
Payment of expenses in connection with Initial Public Offering			$ 268	$ 0
Payment to redeem and retire Second Lien Term Notes			3,150	412
Increase in cash			(1,895)	$ 6,197
Second Lien Term Loan [Member]
Subsequent Event [Abstract]
Face amount			80,000		$ 80,000		$ 80,000
7% Senior Notes [Member]
Subsequent Event [Abstract]
Face amount			$ 12,600		$ 12,600	$ 11,000
Interest rate			7.00%		7.00%	7.00%
Voting Common Stock [Member]
Common Stock Outstanding [Abstract]
Shares outstanding before transactions (in shares) | shares		6,259,480	6,259,480
Shares outstanding after transactions (in shares) | shares			6,259,480
Nonvoting Common Stock [Member]
Common Stock Outstanding [Abstract]
Shares outstanding before transactions (in shares) | shares		938,857	938,857
Shares outstanding after transactions (in shares) | shares			938,857
Subsequent Event [Member]
Subsequent Event [Abstract]
Stock split conversion ratio		10.43174381
Payment of expenses in connection with Initial Public Offering	$ 3,884
Payment to purchase and retire Intrepid Warrants	5,500
Payment to redeem and retire PIK Toggle Notes	34,000
Payment to redeem and retire Second Lien Term Notes	20,200
Payments to repurchase and retire options to buy Intrepid Common Units	683
Payroll taxes related to payments to repurchase and retire options to buy Intrepid Common Units	22
Increase in cash	83
Subsequent Event [Member] | Second Lien Term Loan [Member]
Subsequent Event [Abstract]
Face amount	20,000
Payment of debt redemption penalty	$ 200
Debt redemption penalty percentage	1.00%
Subsequent Event [Member] | Warrants Purchased and Retired with Proceeds from Initial Public Offering [Member]
Subsequent Event [Abstract]
Payment to purchase and retire Intrepid Warrants	$ 3,250
Subsequent Event [Member] | Warrants Purchased and Retired Upon Redemption of 7% Senior Notes and PIK Toggle Notes [Member]
Subsequent Event [Abstract]
Payment to purchase and retire Intrepid Warrants	$ 2,250
Subsequent Event [Member] | Voting Common Stock [Member]
Subsequent Event [Abstract]
Stock split conversion ratio		10.43174381
Sales price (in dollars per share) | $ / shares	$ 10
Gross proceeds from sale of common stock	$ 62,100
Common Stock Outstanding [Abstract]
Shares issued by the Initial Public Offering (in shares) | shares	6,210,000
Shares outstanding after transactions (in shares) | shares	16,927,737
Subsequent Event [Member] | Voting Common Stock [Member] | 7% Senior Notes [Member]
Common Stock Outstanding [Abstract]
Shares issued for Notes (in shares) | shares	1,289,819
Subsequent Event [Member] | Voting Common Stock [Member] | PIK Toggle Notes [Member]
Common Stock Outstanding [Abstract]
Shares issued for Notes (in shares) | shares	3,168,438
Subsequent Event [Member] | Voting Common Stock [Member] | Over-Allotment Option [Member]
Common Stock Outstanding [Abstract]
Shares issued by the Initial Public Offering (in shares) | shares	810,000
Subsequent Event [Member] | Nonvoting Common Stock [Member]
Subsequent Event [Abstract]
Stock split conversion ratio		10.43174381
Common Stock Outstanding [Abstract]
Shares outstanding after transactions (in shares) | shares	938,857