Turning Point Brands (TPB) 10-Q 1 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 22, 2019
Entity Information [Line Items]
Entity Registrant Name	Turning Point Brands, Inc.
Entity Central Index Key	0001290677
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Voting Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,589,410

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash	$ 1,741	$ 3,306
Accounts receivable, net of allowances of $47 in 2019 and $42 in 2018	4,343	2,617
Inventories	90,871	91,237
Other current assets	11,666	14,694
Total current assets	108,621	111,854
Property, plant, and equipment, net	10,942	10,589
Right of use assets	10,951	0
Deferred financing costs, net	818	870
Goodwill	145,961	145,939
Other intangible assets, net	34,979	35,339
Master Settlement Agreement (MSA) escrow deposits	31,045	30,550
Other assets	4,225	4,236
Total assets	347,542	339,377
Current liabilities:
Accounts payable	15,070	6,841
Accrued liabilities	20,419	22,925
Current portion of long-term debt	12,000	8,000
Revolving credit facility	14,000	26,000
Total current liabilities	61,489	63,766
Notes payable and long-term debt	180,900	186,715
Deferred income taxes	2,172	2,291
Postretirement benefits	3,092	3,096
Lease liabilities	9,504	0
Other long-term liabilities	1,544	886
Total liabilities	258,701	256,754
Commitments and contingencies
Stockholders' equity:
Preferred stock; $0.01 par value; authorized shares 40,000,000; issued and outstanding shares -0-	0	0
Additional paid-in capital	111,089	110,466
Accumulated other comprehensive loss	(2,614)	(2,536)
Accumulated deficit	(19,830)	(25,503)
Total stockholders' equity	88,841	82,623
Total liabilities and stockholders' equity	347,542	339,377
Common Stock, Voting [Member]
Stockholders' equity:
Common stock	196	196
Common Stock, Nonvoting [Member]
Stockholders' equity:
Common stock	$ 0	$ 0

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Accounts receivable, allowance	$ 47	$ 42
Stockholders' equity:
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' equity:
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)	19,576,398	19,553,857
Common stock, shares outstanding (in shares)	19,576,398	19,553,857
Common Stock, Nonvoting [Member]
Stockholders' equity:
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)	0	0
Common stock, shares outstanding (in shares)	0	0

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Income [Abstract]
Net sales	$ 91,628	$ 73,942
Cost of sales	51,164	42,133
Gross profit	40,464	31,809
Selling, general, and administrative expenses	28,429	22,068
Operating income	12,035	9,741
Interest expense, net	3,856	3,654
Investment income	(144)	(95)
Loss on extinguishment of debt	0	2,384
Net periodic benefit income, excluding service cost	(11)	(43)
Income before income taxes	8,334	3,841
Income tax expense	1,774	809
Consolidated net income	$ 6,560	$ 3,032
Basic income per common share:
Consolidated net income (in dollars per share)	$ 0.34	$ 0.16
Diluted income per common share:
Consolidated net income (in dollars per share)	$ 0.33	$ 0.15
Weighted average common shares outstanding:
Basic (in shares)	19,559,596	19,221,892
Diluted (in shares)	20,045,964	19,762,194

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Comprehensive Income (unaudited) [Abstract]
Consolidated net income	$ 6,560	$ 3,032
Other comprehensive loss, net of tax
Amortization of unrealized pension and postretirement gain (loss), net of tax of $1 in 2019 and $10 in 2018	(4)	30
Unrealized gain (loss) on investments, net of tax of $93 in 2019 and $135 in 2018	402	(384)
Unrealized loss on interest rate swaps, net of tax of $182 in 2019 and $185 in 2018	(476)	(526)
Other comprehensive income (loss), net of tax	(78)	(880)
Consolidated comprehensive income	$ 6,482	$ 2,152

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other comprehensive loss, net of tax
Amortization of unrealized pension and postretirement gain (loss), tax	$ 1	$ 10
Unrealized gain (loss) on investments, tax	93	135
Unrealized loss on interest rate swaps, tax	$ 182	$ 185

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Consolidated net income	$ 6,560	$ 3,032
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on extinguishment of debt	0	2,384
Loss on disposal of property, plant, and equipment	23	0
Depreciation expense	531	560
Amortization of other intangible assets	359	176
Amortization of deferred financing costs	237	238
Deferred income taxes	(29)	793
Stock compensation expense	466	197
Changes in operating assets and liabilities:
Accounts receivable	(1,726)	965
Inventories	366	5,237
Other current assets	2,984	(2,051)
Other assets	(427)	(23)
Accounts payable	8,229	2,955
Accrued postretirement liabilities	(9)	(14)
Accrued liabilities and other	(3,539)	(6,029)
Net cash provided by operating activities	14,025	8,420
Cash flows from investing activities:
Capital expenditures	(886)	(363)
Restricted cash, MSA escrow deposits	1,702	(530)
Net cash provided by (used in) investing activities	816	(893)
Cash flows from financing activities:
Payments of 2018 revolving credit facility	(12,000)	0
Payment of dividends	(880)	0
Proceeds from (payments of) 2017 revolving credit facility, net	0	(8,000)
Payments of financing costs	0	(3,279)
Exercise of options	187	20
Redemption of options	(12)	0
Net cash used in financing activities	(14,705)	(6,872)
Net increase in cash	136	655
Cash, beginning of period:
Unrestricted	3,306	2,607
Restricted	2,361	4,709
Total cash at beginning of period	5,667	7,316
Cash, end of period:
Unrestricted	1,741	3,792
Restricted	4,062	4,179
Total cash at end of period	5,803	7,971
Supplemental schedule of noncash financing activities:
Accrued expenses incurred for financing costs	0	154
Dividends declared not paid	887	0
2018 First Lien Term Loan [Member]
Cash flows from financing activities:
Proceeds from term loan	0	160,000
Payments of term loan	(2,000)	0
2018 Second Lien Term Loan [Member]
Cash flows from financing activities:
Proceeds from term loan	0	40,000
2017 First Lien Term Loans [Member]
Cash flows from financing activities:
Payments of term loan	0	(140,613)
2017 Second Lien Term Loan [Member]
Cash flows from financing activities:
Payments of term loan	$ 0	$ (55,000)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Common Stock [Member]Voting [Member]	Common Stock [Member]Non-Voting [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
Beginning balance at Dec. 31, 2017	$ 192	$ 0	$ 103,640	$ (2,973)	$ (47,535)	$ 53,324
Beginning balance (in shares) at Dec. 31, 2017	19,210,633
Unrecognized pension and postretirement cost adjustment, net of tax	$ 0	0	0	30	0	30
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	(379)	0	(379)
Unrealized loss on other investments, net of tax	0	0	0	(5)	0	(5)
Unrealized loss on interest rate swaps, net of tax	0	0	0	(526)	0	(526)
Stock compensation expense	0	0	177	0	0	177
Restricted stock forfeitures	$ 0	0	(4)	0	0	(4)
Restricted stock forfeitures (in shares)	(517)
Exercise of options	$ 0	0	20	0	0	20
Exercise of options (in shares)	12,501
Dividends	$ 0	0	0	0	(777)	(777)
Reclassification of tax effects from accumulated other comprehensive income	0	0	0	24	(24)	0
Net income	0	0	0	0	3,032	3,032
Ending balance at Mar. 31, 2018	$ 192	0	103,833	(3,829)	(45,304)	54,892
Ending balance (in shares) at Mar. 31, 2018	19,222,617
Beginning balance at Dec. 31, 2017	$ 192	0	103,640	(2,973)	(47,535)	53,324
Beginning balance (in shares) at Dec. 31, 2017	19,210,633
Ending balance at Dec. 31, 2018	$ 196	0	110,466	(2,536)	(25,503)	82,623
Ending balance (in shares) at Dec. 31, 2018	19,553,857
Unrecognized pension and postretirement cost adjustment, net of tax	$ 0	0	0	(4)	0	(4)
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	402	0	402
Unrealized loss on other investments, net of tax	0	0	0	0	0	0
Unrealized loss on interest rate swaps, net of tax	0	0	0	(476)	0	(476)
Stock compensation expense	0	0	449	0	0	449
Restricted stock forfeitures	$ 0	0	(1)	0	0	(1)
Restricted stock forfeitures (in shares)	(47)
Exercise of options	$ 0	0	187	0	0	187
Exercise of options (in shares)	22,588
Redemption of options	$ 0	0	(12)	0	0	(12)
Dividends	0	0	0	0	(887)	(887)
Net income	0	0	0	0	6,560	6,560
Ending balance at Mar. 31, 2019	$ 196	$ 0	$ 111,089	$ (2,614)	$ (19,830)	$ 88,841
Ending balance (in shares) at Mar. 31, 2019	19,576,398

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Changes in Stockholders' Equity (Deficit) [Abstract]
Unrecognized pension and postretirement cost adjustment, tax	$ 1	$ 10
Unrealized gain (loss) on MSA investments, tax	93	133
Unrealized loss on other investments, tax	0	2
Unrealized loss on interest rate swaps, tax	$ 182	$ 185

Organizations and Basis of Pres

Organizations and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organizations and Basis of Presentation [Abstract]
Organizations and Basis of Presentation	Note 1. Organizations and Basis of Presentation Organizations Turning Point Brands, Inc. (the “Company”), is a holding company which owns North Atlantic Trading Company, Inc. (“NATC”), and its subsidiaries and Turning Point Brands, LLC (“TPLLC”), and its subsidiaries. Except where the context indicates otherwise, references to the Company include the Company; NATC and its subsidiaries National Tobacco Company, L.P. (“NTC”), National Tobacco Finance, LLC (“NTFLLC”), North Atlantic Operating Company, Inc. (“NAOC”), North Atlantic Cigarette Company, Inc. (“NACC”), and RBJ Sales, Inc. (“RBJ”); and TPLLC and its subsidiaries Intrepid Brands, LLC (“Intrepid”), Vapor Beast, LLC (“VaporBeast,” f/k/a Smoke Free Technologies, Inc.), Vapor Shark, LLC, and its subsidiaries (collectively, “Vapor Shark,” f/k/a The Hand Media), Vapor Acquisitions Company, LLC (“Vapor Supply”), Vapor Finance, LLC (“VFIN”), International Vapor Group, LLC and its subsidiaries (collectively, “IVG”), and Nu-X Ventures LLC (“Nu-X”). Basis of Presentation The accompanying interim, consolidated financial statements have been prepared in accordance with the accounting practices described in the Company’s audited, consolidated financial statements as of and for the year ended December 31, 2018, and are unaudited.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. All significant intercompany transactions have been eliminated. Revenue Recognition The Company recognizes revenues, net of sales incentives and sales returns, including shipping and handling charges billed to customers, upon delivery of goods to the customer at an amount that the Company expects to be entitled to in exchange for those goods in accordance with the five-step analysis outlined in Revenue from Contracts with Customers (Topic 606): (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. Topic 606 requires entities to Shipping Costs The Company records shipping costs incurred as a component of selling, general, and administrative expenses. Shipping costs incurred were approximately $4.3 million and $3.2 million for the three months ending , 2019 and 2018, respectively. Fair Value GAAP establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The three levels of the fair value hierarchy under GAAP are described below: • Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets at the measurement date. • Level 2 – Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Derivative Instruments Foreign Currency Forward Contracts: Interest Rate Swap Agreements: Risks and Uncertainties Manufacturers and sellers of tobacco products are subject to regulation at the federal, state, and local levels. Such regulations include, among others, labeling requirements, limitations on advertising, and prohibition of sales to minors. The tobacco industry is likely to continue to be heavily regulated. There can be no assurance as to the ultimate content, timing, or effect of any regulation of tobacco products by any federal, state, or local legislative or regulatory body, nor can there be any assurance that any such legislation or regulation would not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. The tobacco industry has experienced, and is experiencing, significant product liability litigation. Most tobacco liability lawsuits have been brought against manufacturers and sellers of cigarettes for injuries allegedly caused by smoking or exposure to smoke. However, several lawsuits have been brought against manufacturers and sellers of smokeless products for injuries to health allegedly caused by use of smokeless products. Typically, such claims assert that use of smokeless products is addictive and causes oral cancer. Additionally, several lawsuits have been brought against manufacturers and distributors of NewGen products due to malfunctioning devices. There can be no assurance the Company will not sustain losses in connection with such lawsuits and that such losses will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. Master Settlement Agreement (MSA): The Company has chosen to invest a portion of the MSA escrow deposits in U.S. Government securities including TIPS, Treasury Notes, and Treasury Bonds. These investments are classified as available-for-sale and carried at fair value. Realized losses are prohibited under the MSA; any investment in an unrealized loss position will be held until the value is recovered, or until maturity. The following shows the fair value of the MSA escrow account: As of December 31, 2018 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents $ 4,062 $ - $ - $ 4,062 $ 2,361 $ - $ - $ 2,361 U.S. Governmental agency obligations (unrealized gain position < 12 months) 500 2 - 502 1,193 9 - 1,202 U.S. Governmental agency obligations (unrealized loss position < 12 months) - - - - 1,000 - (3 ) 997 U.S. Governmental agency obligations (unrealized loss position > 12 months) 27,511 - (1,030 ) 26,481 27,519 - (1,529 ) 25,990 $ 32,073 $ 2 $ (1,030 ) $ 31,045 $ 32,073 $ 9 $ (1,532 ) $ 30,550 Fair value for the U.S. Governmental agency obligations are Level 2. The following shows the maturities of the U.S. Governmental agency obligations: As of March 31, 2019 December 31, 2018 Less than one year $ 1,499 $ 1,499 One to five years 14,091 13,591 Five to ten years 9,453 11,152 Greater than ten years 2,968 3,470 Total U.S. Governmental agency obligations $ 28,011 $ 29,712 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, December 31, 2018 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,714 3,714 2005 4,552 4,552 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,619 1,619 2010 406 406 2011 193 193 2012 199 199 2013 173 173 2014 143 143 2015 101 101 2016 91 91 2017 83 83 Total $ 32,073 $ 32,073 Food and Drug Administration (“FDA”): cigars, pipe tobacco, electronic cigarettes (“e-cigarettes”), vaporizers, and e-liquids as “deemed” tobacco products under the FSPTCA. The FDA assesses tobacco product user fees on six classes of regulated tobacco products and computes user fees using a methodology similar to the methodology used by the U.S Department of Agriculture to compute the Tobacco Transition Payment Program (“TTPP,” also known as the “Tobacco Buyout”) assessment. First, the total, annual, congressionally established user fee assessment is allocated among the various classes of tobacco products using the federal excise tax weighted market share of tobacco products subject to regulation. Then, the assessment for each class of tobacco products is divided among individual manufacturers and importers. Prior to October 1, 2016, these FDA user fees applied only to those products then regulated by the FDA. Effective October 1, 2016, the FDA began additionally applying FDA user fees to newly “deemed” tobacco products subject to FDA user fees as described above, i.e. On July 28, 2017, the FDA announced a new direction in regulating tobacco products, including the newly “deemed” markets such as cigars and vapor products. The FDA stated it intends to begin several new rulemaking processes, some of which will outline foundational rules governing the premarket application process for the deemed products, including Substantial Equivalence Applications and Premarket Tobacco Applications. Compliance and related costs could be significant and could increase the costs of operating in our NewGen segment. The original filing deadlines for newly “deemed” products on the market as of August 8, 2016, have been postponed until August 8, 2021, for “combustible” products ( e.g. e.g. i.e. Recent Accounting Pronouncements Adopted Effective January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02, “Leases.” This ASU requires substantially all leases be recorded on the balance sheet as right of use assets and lease obligations. The Company adopted the ASU using a retrospective adoption method at January 1, 2019, as outlined in ASU No. 2018-11, “Leases - Targeted Improvements.” Under this method of adoption, there is no impact to the comparative consolidated statement of income and consolidated balance sheet. The Company determined that there was no cumulative-effect adjustment to beginning retained earnings on the consolidated balance sheet. The Company will continue to report periods prior to January 1, 2019 in its financial statements under prior guidance as outlined in Accounting Standards Codification Topic 840, “Leases”. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed carry forward of historical lease classifications. Adoption of this standard did not materially impact the Company’s income before income taxes and had no impact on the statement of cash flows. See Note 11, “Leases” for further details.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2019
Acquisitions [Abstract]
Acquisitions	Note 3. Acquisitions IVG In September 2018, the Company acquired 100% of the equity interest of IVG for total consideration of $23.8 million satisfied through $14.5 million paid in cash, 153,079 shares of common stock with a fair value of $5.3 million, and a $4.0 million note payable to IVG’s former owners (“IVG Note”) which matures 18 months from the acquisition date. All principal and accrued and unpaid interest under the IVG Note is subject to indemnification obligations of the sellers pursuant to the . The arrangement includes an additional $4.5 million of earnouts with both performance-based and service-based conditions payable to former IVG owners who became employees of the Company as a result of the acquisition. Such amounts will be considered compensation and not a component of the IVG purchase price. The portion of earnout payments a recipient will receive will be calculated by reference to certain performance metrics not to exceed a two-year period as specified within the acquisition agreement. The Company recorded earnout expense of approximately $0.4 million within the consolidated statement of income for the three months ended March 31, 2019, based on the probability of achieving the performance conditions. IVG markets and sells a broad array of proprietary and third-party vapor products directly to adult consumers through an online platform under brand names such as VaporFi, South Beach Smoke, and Direct Vapor. IVG operates company-owned stores under the VaporFi brand and also operates as a franchisor to franchisee-owned stores. The acquisition of IVG adds a significant business-to-consumer distribution platform to the Company’s NewGen portfolio. As of March 31, 2019, the Company had not completed the accounting for the acquisition. The following purchase price and goodwill are based on the excess of the acquisition price over the estimated fair value of the tangible and intangible assets acquired and are based on management’s preliminary estimates. Total consideration transferred $ 24,292 Adjustments to consideration transferred: Cash acquired, net of debt assumed (221 ) Working capital (245 ) Adjusted consideration transferred 23,826 Assets acquired: Working capital (primarily inventory) 3,331 Fixed assets 1,274 Intangible assets 7,880 Net assets acquired 12,485 Goodwill $ 11,341 The goodwill of $11.3 million consists of the synergies and scale expected from combining the operations and is currently deductible for tax purposes. Vapor Supply On April 30, 2018, the Company purchased the assets of Vapor Supply LLC, vaporsupply.com, and some of its affiliates including the Ecig.com domain through its subsidiary Vapor Acquisitions Company, LLC, for total consideration of $4.8 million paid in cash to strengthen its presence within the NewGen segment. Vapor Supply is a business-to-business e-commerce distribution platform servicing independent retail vape shops. Additionally, Vapor Supply manufactures and markets proprietary e-liquids under the DripCo brand and operates company-owned stores. As of March 31, 2019, the Company had not completed the accounting for the acquisition of these assets. The following fair value for working capital (primarily inventory), fixed assets, and trade name are based on management’s preliminary estimates: Fair Value Working capital $ 2,500 Fixed assets 272 Trade name 2,028 Total consideration transferred $ 4,800

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2019
Derivative Instruments [Abstract]
Derivative Instruments	Note 4. Derivative Instruments Foreign Currency The Company’s policy is to manage the risks associated with foreign exchange rate movements. The policy allows hedging up to 100% of its anticipated purchases of inventory over a forward period that will not exceed 12 rolling and consecutive months. The Company may, from time to time, hedge currency for non-inventory purchases, e.g. Interest Rate Swaps The Company’s policy is to manage interest rate risk by reducing the volatility of future cash flows associated with debt instruments bearing interest at variable rates. In March 2018, the Company executed various interest rate swap agreements for a notional amount of $70 million with an expiration of December 2022. The swap agreements fix LIBOR at 2.755%. The swap agreements met the hedge accounting requirements; thus, any change in fair value is recorded to other comprehensive income. The Company uses the Shortcut Method to account for the swap agreements. The Shortcut Method assumes the hedge to be perfectly effective; thus, there is no ineffectiveness to be recorded in earnings. The swap agreements’ fair values at March 31, 2019, and December 31, 2018, resulted in a liability of $1.5 million and $0.9 million, respectively, included in other long-term liabilities.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2019
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 5. Fair Value of 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 Cash and cash equivalents are, by definition, short-term. Thus, the carrying amount is a reasonable estimate of fair value. Accounts Receivable The fair value of accounts receivable approximates their carrying value due to their short-term nature. 2018 Revolving Credit Facility The fair value of the 2018 Revolving Credit Facility approximates its carrying value as the interest rate fluctuates with changes in market rates. Note Payable – IVG The fair value of the IVG Note approximates its carrying value of $4.0 million due to the recency of the note’s issuance, relative to the end of the quarter, March 31, 2019. Long-Term Debt As the Company’s long-term debt bears interest at variable rates that fluctuate with market rates, the carrying values of the long-term debt instruments approximate their respective fair values. As of March 31, 2019, the fair values of the 2018 First Lien Term Loan and the 2018 Second Lien Term Loan approximated $152.0 million and $40.0 million, respectively. As of December 31, 2018, the fair values of the 2018 First Lien Term Loan and the 2018 Second Lien Term Loan approximated $154.0 million and $40.0 million, respectively. Foreign Exchange The Company did not have any open forward contracts at March 31, 2019. The Company had forward contracts for the purchase of €1.5 million as of December 31, 2018. The fair values of the foreign exchange contracts are based upon quoted market prices and resulted in a gain of approximately $0.1 million for the three months ended March 31, 2019. As there were no open contracts as of March 31, 2019, there is no resulting balance sheet position related to the fair value. Interest Rate Swaps The Company had swap contracts for a total notional amount of $70 million at March 31, 2019 and December 31, 2018. The fair values of the swap contracts are based upon quoted market prices and resulted in a liability of $1.5 million and $0.9 million as of March 31, 2019 and December 31, 2018, respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2019
Inventories [Abstract]
Inventories	Note 6. Inventories The components of inventories are as follows: March 31, 2019 December 31, 2018 Raw materials and work in process $ 3,967 $ 2,722 Leaf tobacco 35,929 34,977 Finished goods - Smokeless products 6,540 6,321 Finished goods - Smoking products 15,079 14,666 Finished goods - NewGen products 33,810 37,194 Other 903 738 96,228 96,618 LIFO reserve (5,357 ) (5,381 ) $ 90,871 $ 91,237 The inventory valuation allowance was $1.5 million and $2.5 million as of March 31

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 7. Property, Plant, and Equipment Property, plant, and equipment consisted of the following: March 31, 2019 December 31, 2018 Land $ 22 $ 22 Buildings and improvements 2,320 2,320 Leasehold improvements 2,101 2,101 Machinery and equipment 14,214 13,292 Furniture and fixtures 5,003 5,045 23,660 22,780 Accumulated depreciation (12,718 ) (12,191 ) $ 10,942 $ 10,589

Other Current Assets

Other Current Assets	3 Months Ended
	Mar. 31, 2019
Other Current Assets [Abstract]
Other Current Assets	Note 8. Other Current Assets Other current assets consisted of the following: March 31, 2019 December 31, 2018 Inventory deposits $ 7,134 $ 9,739 Other 4,532 4,955 $ 11,666 $ 14,694

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2019
Accrued Liabilities [Abstract]
Accrued Liabilities	Note 9. Accrued Liabilities Accrued liabilities consisted of the following: March 31, 2019 December 31, 2018 Accrued payroll and related items $ 3,093 $ 6,063 Customer returns and allowances 3,082 3,634 Taxes payable 3,758 2,138 Lease liabilities 1,700 - Other 8,786 11,090 $ 20,419 $ 22,925

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	3 Months Ended
	Mar. 31, 2019
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Note 10. Notes Payable and Long-Term Debt Notes payable and long-term debt consisted of the following in order of preference: March 31, 2019 December 31, 2018 2018 First Lien Term Loan $ 152,000 $ 154,000 2018 Second Lien Term Loan 40,000 40,000 Note payable - IVG 4,000 4,000 Total notes payable and long-term debt 196,000 198,000 Less deferred finance charges (3,100 ) (3,285 ) Less current maturities (12,000 ) (8,000 ) $ 180,900 $ 186,715 2018 Credit Facility On March 7, 2018, the Company entered into a $250 million credit facility consisting of a $160 million 2018 First Lien Term Loan with Fifth Third Bank, as administrative agent, and other lenders, and a $50 million 2018 Revolving Credit Facility (collectively, the “2018 First Lien Credit Facility”) in addition to a $40 million 2018 Second Lien Term Loan (together with the 2018 First Lien Credit Facility, the “2018 Credit Facility”) with Prospect Capital Corporation, as administrative agent, and other lenders. The 2018 Credit Facility contains customary events of default including payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to certain other material indebtedness in excess of specified amounts, certain events of bankruptcy and insolvency, certain ERISA events, judgments in excess of specified amounts, and change in control defaults. The 2018 Credit Facility also contains certain negative covenants customary for facilities of these types including covenants that, subject to exceptions described in the 2018 Credit Facility, restrict the ability of the Company and its subsidiary guarantors: (i) to pledge assets, (ii) to incur additional indebtedness, (iii) to pay dividends, (iv) to make distributions, (v) to sell assets, and (vi) to make investments. Refer to Note 18 of Notes to Consolidated Financial Statements for further information regarding dividend restrictions. 2018 First Lien Credit Facility: March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 2018 Second Lien Credit Facility: March 31, 2019 Note Payable – IVG In September 2018, the Company issued a note payable to IVG’s former shareholders (“IVG Note”). The IVG Note is $4.0 million principal with 6.0% interest compounding annually and matures on March 5, 2020. All principal and accrued and unpaid interest under the IVG Note is subject to indemnification obligations of the sellers pursuant to the International Vapor Group Stock Purchase Agreement dated as of September 5, 2018.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Note 11. Leases As of January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842) . Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense for these leases is recognized on a straight-line basis over the lease term. The components of lease expense consisted of the following: Three months ended March 31, 2019 Operating lease cost Cost of sales $ 192 Selling, general and administrative 555 Variable lease cost (1) 245 Short-term lease cost 54 Sublease income (30 ) Total operating lease cost $ 1,016 (1) Variable lease expense includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying. March 31, 2019 Assets: Right of use assets $ 10,951 Total leased assets $ 10,951 Liabilities: Current lease liabilities (2) $ 1,700 Long-term lease liabilities 9,504 Total Lease Liabilities $ 11,204 (2) Reported within accrued liabilities on the balance sheet As of March 31, 2019 Weighted-average remaining lease term - operating leases 9.0 years Weighted-average discount rate - operating leases 6.49 % Nearly all the lease contracts for the Company do not provide a readily determinable implicit rate. For these contracts, the Company estimated the incremental borrowing rate based on information available upon adoption of ASU 2016-02. As of March 31, 2019, maturities of lease liabilities consisted of the following: March 31, 2019 Remaining nine months of 2019 $ 1,736 2020 2,167 2021 1,788 2022 1,144 2023 973 Years thereafter 7,245 Total lease payments $ 15,053 Less: Imputed interest 3,849 Present value of lease liabilities $ 11,204

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Taxes [Abstract]
Income Taxes	Note 12. Income Taxes In December 2017, the U.S. Congress passed the Tax Cuts and Jobs Act of 2017 (”TCJA”) which the President signed in the same month. The TCJA reduced the corporate income tax rate to 21%, effective January 1, 2018. Other significant changes accompanying the corporate income tax rate reduction include eliminating the corporate alternative minimum tax, limiting the interest expense deduction to 30% of adjusted taxable income, and limiting net operating losses to 80% of taxable income for losses arising in tax years beginning after 2017. The TCJA required the Company to remeasure its deferred tax assets and liabilities at the newly enacted tax rate in December 2017, the period of enactment. The Company’s effective income tax rate for the three months ended March 31 March 31 March 31 March 31 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 the Company 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 2014.

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans	3 Months Ended
	Mar. 31, 2019
Pension and Postretirement Benefit Plans [Abstract]
Pension and Postretirement Benefit Plans	Note 13. Pension and Postretirement Benefit Plans The Company has a defined benefit pension plan. Benefits for hourly employees were based on a stated benefit per year of service, reduced by amounts earned in a previous plan. Benefits for salaried employees were based on years of service and the employees’ final compensation. The defined benefit pension plan is frozen. The Company’s policy is to make the minimum amount of contributions that can be deducted for federal income taxes. The Company expects to make no contributions to the pension plan in 2019. In the second quarter of 2018, the Company made mutually agreed upon lump-sum payments to certain individuals covered by the defined benefit pension plan which resulted in a curtailment loss of approximately $0.3 million during the second quarter of 2018. The Company 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. The Company’s policy is to make contributions equal to benefits paid during the year. The Company expects to contribute approximately $0.2 million to its postretirement plan in 2019 for the payment of benefits. The following table provides the components of net periodic pension and postretirement benefit costs and total costs for the plans: Three Months Ended March 31, Pension Benefits Postretirement Benefits 2019 2018 2019 2018 Service cost $ 26 $ 26 $ - $ - Interest cost 130 142 25 29 Expected return on plan assets (161 ) (254 ) - - Amortization of (gains) losses 37 60 (42 ) (20 ) Net periodic benefit (income) cost $ 32 $ (26 ) $ (17 ) $ 9

Share Incentive Plans

Share Incentive Plans	3 Months Ended
	Mar. 31, 2019
Share Incentive Plans [Abstract]
Share Incentive Plans	Note 14. Share Incentive Plans On April 28, 2016, the Board of Directors of the Company adopted the Turning Point Brands, Inc., 2015 Equity Incentive Plan (the “2015 Plan”), pursuant to which awards may be granted to employees, non-employee directors, and consultants. In addition, the 2015 Plan provides for the granting of nonqualified stock options to employees of the Company or any subsidiary of the Company. Pursuant to the 2015 Plan, 1,400,000 shares of the Company’s voting common stock are reserved for issuance as awards to employees, non-employee directors, and consultants as compensation for past or future services or the attainment of certain performance goals. The 2015 Plan is scheduled to terminate on April 27, 2026. The 2015 Plan is administered by a committee (the “Committee”) of the Company’s Board of Directors. The Committee determines the vesting criteria for the awards, with such criteria to be specified in the award agreement. As of March 31, 2019, net of forfeitures, there were 18,059 shares of restricted stock, 272,776 performance-based restricted stock units, and 447,728 options granted under the 2015 Plan. There are 661,437 shares available for grant under the 2015 Plan. On February 8, 2006, the Board of Directors of the Company adopted the 2006 Equity Incentive Plan (the “2006 Plan”) of North Atlantic Holding Company, Inc., pursuant to which awards may be granted to employees. The 2006 Plan provides for the granting of nonqualified stock options and restricted stock awards to employees. Upon the adoption of the Company’s 2015 Equity Incentive Plan in connection with its IPO, the Company determined no additional grants would be made under the 2006 Plan. However, all awards issued under the 2006 Plan that have not been previously terminated or forfeited remain outstanding and continue unaffected. There are no shares available for grant under the 2006 Plan. Stock option activity for the 2006 and 2015 Plans is summarized below: Stock Option Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Outstanding, December 31, 2017 763,672 5.73 2.36 Granted 124,100 21.27 6.33 Exercised (209,943 ) 3.97 1.47 Forfeited (18,255 ) 13.46 3.90 Outstanding, December 31, 2018 659,574 $ 9.00 $ 3.34 Granted 155,780 47.58 15.63 Exercised (22,892 ) 8.16 3.08 Forfeited (912 ) 44.69 14.64 Outstanding, March 31, 2019 791,550 $ 16.58 $ 5.75 Under the 2006 and 2015 Plans, the total intrinsic value of options exercised during the three months ended March 31, 2019 and 2018, was $0.8 million, and $0.3 million, respectively. At March 31, 2019, under the 2006 Plan, the outstanding stock options’ exercise price for 405,296 options is $3.83 per share, all of which are exercisable. The weighted average of the remaining lives of the outstanding stock options with an exercise price of $3.83 is approximately 4.17 years. The Company estimates the expected life of these stock options is ten years from the date of grant. For the $3.83 per share options, At March 31, 2019, under the 2015 Plan, the risk-free interest rate is based on the U.S. Treasury rate for the expected life at the time of grant. The expected volatility is based on the average long-term historical volatilities of peer companies. We intend to continue to consistently use the same group of publicly traded peer companies to determine expected volatility until sufficient information regarding volatility of our share price becomes available or until the selected companies are no longer suitable for this purpose. Due to our limited trading history, we are using the simplified method presented by SEC Staff Accounting Bulletin No. 107 to calculate expected holding periods, which represent the periods of time for which options granted are expected to be outstanding. We will continue to use this method until we have sufficient historical exercise experience to give us confidence in the reliability of our calculations. The fair values of these options were determined using the Black-Scholes option pricing model. The following table outlines the assumptions based on the number of options granted under the 2015 Plan. February 10, 2017 May 17, 2017 March 7, 2018 March 13, 2018 March 20, 2019 Number of options granted 40,000 93,819 98,100 26,000 155,780 Options outstanding at March 31, 2019 30,700 79,874 94,730 26,000 154,950 Number exercisable at March 31, 2019 19,150 53,511 33,746 17,420 - Exercise price $ 13.00 $ 15.41 $ 21.21 $ 21.49 $ 47.58 Remaining lives 7.87 8.13 8.94 8.96 9.98 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.62 % 2.34 % Expected volatility 27.44 % 26.92 % 28.76 % 28.76 % 30.95 % Expected life 6.000 6.000 6.000 5.495 6.000 Dividend yield - - 0.83 % 0.82 % 0.42 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 6.18 $ 15.63 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 related to the options of approximately $0.2 million and $0.1 million for the three months ended March 31, 2019 and 2018. Total unrecognized compensation expense related to options at March 31, 2019, is $2.5 million, which will be expensed over 2.62 years. Performance-Based Restricted Stock Units (“PRSUs”) PRSUs are restricted stock units subject to both performance-based and service-based vesting conditions. The number of common stock shares a recipient will receive upon vesting of a PRSU will be calculated by reference to certain performance metrics related to the Company’s performance over a five-year period. PRSUs will vest on the measurement date, which is no more than 65 days after the performance period (provided the applicable service and performance conditions are satisfied). On March 7, 2018, the Company’s Board of Directors granted 96,000 PRSUs to employees of the Company. On March 20, 2019, the Company’s Board of Directors granted an additional 92,500 PRSUs to employees of the Company. The fair values of the PRSUs granted on March 7, 2018, and March 20, 2019, are $21.21 and $47.58, respectively, the Company’s stock price on the date of grant. As of March 31, 2019, there are 267,900 PRSUs outstanding, all of which are unvested. On March 20, 2019, the Company’s Board of Directors granted 4,876 PRSUs with a one-year performance period. The fair value of these awards is $47.58. The Company recorded compensation expense related to the PRSUs of approximately $0.2 million and $0.1 million in the consolidated statements of income for the three months ended March 31, 2019 and 2018, based on the probability of achieving the performance condition. Total unrecognized compensation expense related to these awards at March 31, 2019, is $6.7 million which will be expensed over the service periods based on the probability of achieving the performance condition.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2019
Contingencies [Abstract]
Contingencies	Note 15. Contingencies Other major tobacco companies are defendants in product liability claims. In a number of these cases, the amounts of punitive and compensatory damages sought are significant and could have a material adverse effect on our business and results of operations. The Company is a defendant in certain cases which have been dormant for many years, which cases have now been dismissed with prejudice. The Company is subject to several lawsuits alleging personal injuries resulting from malfunctioning vaporizer devices and may be subject to claims in the future relating to other NewGen products. The Company is still evaluating these claims and the potential defenses to them. For example, the Company did not design or manufacture the products at issue; rather, the Company was merely the distributor. Nonetheless, there can be no assurance that the Company will prevail in these cases, and they could have a material adverse effect on the financial position, results of operations, or cash flows of the Company.

Income Per Share

Income Per Share	3 Months Ended
	Mar. 31, 2019
Income Per Share [Abstract]
Income Per Share	Note 16. Income 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, 2019 2018 Income Shares Per Share Income Shares Per Share Consolidated net income $ 6,560 $ 3,032 Basic EPS: Weighted average 19,559,596 $ 0.34 19,221,892 $ 0.16 Diluted EPS: Effect of dilutive securities: Stock options 486,368 540,302 20,045,964 $ 0.33 19,762,194 $ 0.15

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Information [Abstract]
Segment Information	Note 17. Segment Information In accordance with ASC 280, Segment Reporting, the Company has three reportable segments: Smokeless products, Smoking products, and NewGen products. The Smokeless products segment (i) manufactures and markets moist snuff and (ii) contracts for and markets chewing tobacco products. The Smoking products segment (i) markets and distributes cigarette papers, tubes, and related products; (ii) markets and distributes finished cigars and MYO cigar wraps; and (iii) processes, packages, markets, and distributes traditional pipe tobaccos. The NewGen products segment (i) markets and distributes e-cigarettes, e-liquids, vaporizers, and certain other products without tobacco and/or nicotine; (ii) distributes a wide assortment of vaping and CBD related products to non-traditional retail outlets via VaporBeast, Vapor Shark, Vapor Supply, and IVG; and (iii) distributes a wide assortment of vaping and CBD related products to individual consumers via Vapor Shark, Vapor World, and VaporFi branded retail outlets in addition to online platforms. Smokeless and Smoking products are distributed primarily through wholesale distributors in the United States while NewGen products are distributed primarily through e-commerce to non-traditional retail outlets in the United States. The Other segment includes the costs and assets of the Company not assigned to one of the three reportable segments such as intercompany transfers, deferred taxes, deferred financing fees, and investments in subsidiaries. The accounting policies of these segments are the same as those of the Company. Corporate costs are not directly charged to the three reportable segments in the ordinary course of operations. The Company evaluates the performance of its segments and allocates resources to them based on operating income. In 2018, corporate costs were allocated to the segments based on net sales. Management believes this allocation does not reflect the operations of the business. Prior periods have been adjusted to conform to the current year presentation. The tables below present financial information about reported segments: Three Months Ended March 31, 2019 2018 Net sales Smokeless products $ 22,544 $ 20,747 Smoking products 25,519 26,996 NewGen products 43,565 26,199 $ 91,628 $ 73,942 Gross profit Smokeless products $ 12,073 $ 10,993 Smoking products 13,484 13,164 NewGen products 14,907 7,652 $ 40,464 $ 31,809 Operating income (loss) Smokeless products $ 7,487 $ 6,805 Smoking products 9,946 9,544 NewGen products 2,838 1,010 Corporate unallocated (1) (8,236 ) (7,618 ) $ 12,035 $ 9,741 Interest expense, net 3,856 3,654 Investment Income (144 ) (95 ) Loss on extinguishment of debt - 2,384 Net periodic benefit income, excluding service cost (11 ) (43 ) Income before income taxes $ 8,334 $ 3,841 Capital expenditures Smokeless products $ 577 $ 349 Smoking products - - NewGen products 309 14 $ 886 $ 363 Depreciation and amortization Smokeless products $ 357 $ 339 Smoking products - - NewGen products 533 396 $ 890 $ 735 (1) Includes corporate costs that are not allocated to any of the three reportable segments. March 31, 2019 December 31, 2018 Assets Smokeless products $ 108,762 $ 99,441 Smoking products 143,108 142,520 NewGen products 93,990 95,397 Corporate unallocated (1) 1,682 2,019 $ 347,542 $ 339,377 (1) Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments. Revenue Disaggregation—Sales Channel Revenues of the Smokeless and Smoking segments are primarily comprised of sales made to wholesalers while NewGen sales are made to wholesalers, retailers, and ultimate end-customers. NewGen net sales are broken out by sales channel below. NewGen Segment Three Months Ended March 31, 2019 2018 Wholesalers $ 2,197 $ 2,330 Retail outlets 28,645 20,884 End-customers 12,673 2,935 Other 50 50 $ 43,565 $ 26,199 Net Sales—Domestic vs. Foreign The following table shows a breakdown of consolidated net sales between domestic and foreign customers. Three Months Ended March 31, 2019 2018 Domestic $ 88,769 $ 70,858 Foreign 2,859 3,084 Total $ 91,628 $ 73,942

Dividends

Dividends	3 Months Ended
	Mar. 31, 2019
Dividends [Abstract]
Dividends	Note 18. Dividends On November 9, 2017, the Company’s Board of Directors approved the initiation of a cash dividend to shareholders. The initial quarterly dividend of $0.04 per common share was paid on December 15, 2017, to shareholders of record at the close of business on November 27, 2017. The most recent dividend of $0.045 per common share was paid on April 12, 2019, to shareholders of record at the close of business on March 22, 2019. Dividends are classified as restricted payments within the 2018 Credit Facility. The Company is generally permitted to make restricted payments provided that, at the time of payment, or as a result of payment, the Company is not in default on its debt covenants. Additional restrictions limit the aggregate amount of restricted, quarterly dividends during a fiscal year to the aggregate amount of mandatory and voluntary principal payments made on the priority term loans during the fiscal year.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 19. Subsequent Events The company engaged in discussions and mediation with VMR Products LLC (“VMR”), which was acquired in 2018. Pursuant to a Distribution and Supply agreement (“VMR Agreement”), VMR was providing the Company with V2 e-cigarettes for the exclusive distribution in bricks-and-mortar stores in the United States. Under the terms of the VMR Agreement, in the event of termination following a change in control, the acquirer was required to make a payment to the Company under a formula designed to provide the Company with a fair share of the value created by the Company’s performance under the VMR Agreement. The discussions have been completed and the Company received $6.7 million in April 2019 to settle the issue.

Organizations and Basis of Pr_2

Organizations and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Organizations and Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim, consolidated financial statements have been prepared in accordance with the accounting practices described in the Company’s audited, consolidated financial statements as of and for the year ended December 31, 2018, and are unaudited.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Summary of Significant Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. All significant intercompany transactions have been eliminated.
Revenue Recognition	Revenue Recognition The Company recognizes revenues, net of sales incentives and sales returns, including shipping and handling charges billed to customers, upon delivery of goods to the customer at an amount that the Company expects to be entitled to in exchange for those goods in accordance with the five-step analysis outlined in Revenue from Contracts with Customers (Topic 606): (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. Topic 606 requires entities to
Shipping Costs	Shipping Costs The Company records shipping costs incurred as a component of selling, general, and administrative expenses. Shipping costs incurred were approximately $4.3 million and $3.2 million for the three months ending , 2019 and 2018, respectively.
Fair Value	Fair Value GAAP establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The three levels of the fair value hierarchy under GAAP are described below: • Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets at the measurement date. • Level 2 – Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.
Derivative Instruments	Derivative Instruments Foreign Currency Forward Contracts: Interest Rate Swap Agreements:
Risks and Uncertainties	Risks and Uncertainties Manufacturers and sellers of tobacco products are subject to regulation at the federal, state, and local levels. Such regulations include, among others, labeling requirements, limitations on advertising, and prohibition of sales to minors. The tobacco industry is likely to continue to be heavily regulated. There can be no assurance as to the ultimate content, timing, or effect of any regulation of tobacco products by any federal, state, or local legislative or regulatory body, nor can there be any assurance that any such legislation or regulation would not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. The tobacco industry has experienced, and is experiencing, significant product liability litigation. Most tobacco liability lawsuits have been brought against manufacturers and sellers of cigarettes for injuries allegedly caused by smoking or exposure to smoke. However, several lawsuits have been brought against manufacturers and sellers of smokeless products for injuries to health allegedly caused by use of smokeless products. Typically, such claims assert that use of smokeless products is addictive and causes oral cancer. Additionally, several lawsuits have been brought against manufacturers and distributors of NewGen products due to malfunctioning devices. There can be no assurance the Company will not sustain losses in connection with such lawsuits and that such losses will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. Master Settlement Agreement (MSA): The Company has chosen to invest a portion of the MSA escrow deposits in U.S. Government securities including TIPS, Treasury Notes, and Treasury Bonds. These investments are classified as available-for-sale and carried at fair value. Realized losses are prohibited under the MSA; any investment in an unrealized loss position will be held until the value is recovered, or until maturity. The following shows the fair value of the MSA escrow account: As of December 31, 2018 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents $ 4,062 $ - $ - $ 4,062 $ 2,361 $ - $ - $ 2,361 U.S. Governmental agency obligations (unrealized gain position < 12 months) 500 2 - 502 1,193 9 - 1,202 U.S. Governmental agency obligations (unrealized loss position < 12 months) - - - - 1,000 - (3 ) 997 U.S. Governmental agency obligations (unrealized loss position > 12 months) 27,511 - (1,030 ) 26,481 27,519 - (1,529 ) 25,990 $ 32,073 $ 2 $ (1,030 ) $ 31,045 $ 32,073 $ 9 $ (1,532 ) $ 30,550 Fair value for the U.S. Governmental agency obligations are Level 2. The following shows the maturities of the U.S. Governmental agency obligations: As of March 31, 2019 December 31, 2018 Less than one year $ 1,499 $ 1,499 One to five years 14,091 13,591 Five to ten years 9,453 11,152 Greater than ten years 2,968 3,470 Total U.S. Governmental agency obligations $ 28,011 $ 29,712 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, December 31, 2018 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,714 3,714 2005 4,552 4,552 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,619 1,619 2010 406 406 2011 193 193 2012 199 199 2013 173 173 2014 143 143 2015 101 101 2016 91 91 2017 83 83 Total $ 32,073 $ 32,073 Food and Drug Administration (“FDA”): cigars, pipe tobacco, electronic cigarettes (“e-cigarettes”), vaporizers, and e-liquids as “deemed” tobacco products under the FSPTCA. The FDA assesses tobacco product user fees on six classes of regulated tobacco products and computes user fees using a methodology similar to the methodology used by the U.S Department of Agriculture to compute the Tobacco Transition Payment Program (“TTPP,” also known as the “Tobacco Buyout”) assessment. First, the total, annual, congressionally established user fee assessment is allocated among the various classes of tobacco products using the federal excise tax weighted market share of tobacco products subject to regulation. Then, the assessment for each class of tobacco products is divided among individual manufacturers and importers. Prior to October 1, 2016, these FDA user fees applied only to those products then regulated by the FDA. Effective October 1, 2016, the FDA began additionally applying FDA user fees to newly “deemed” tobacco products subject to FDA user fees as described above, i.e. On July 28, 2017, the FDA announced a new direction in regulating tobacco products, including the newly “deemed” markets such as cigars and vapor products. The FDA stated it intends to begin several new rulemaking processes, some of which will outline foundational rules governing the premarket application process for the deemed products, including Substantial Equivalence Applications and Premarket Tobacco Applications. Compliance and related costs could be significant and could increase the costs of operating in our NewGen segment. The original filing deadlines for newly “deemed” products on the market as of August 8, 2016, have been postponed until August 8, 2021, for “combustible” products ( e.g. e.g. i.e.
Recent Accounting Pronouncements Adopted	Recent Accounting Pronouncements Adopted Effective January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02, “Leases.” This ASU requires substantially all leases be recorded on the balance sheet as right of use assets and lease obligations. The Company adopted the ASU using a retrospective adoption method at January 1, 2019, as outlined in ASU No. 2018-11, “Leases - Targeted Improvements.” Under this method of adoption, there is no impact to the comparative consolidated statement of income and consolidated balance sheet. The Company determined that there was no cumulative-effect adjustment to beginning retained earnings on the consolidated balance sheet. The Company will continue to report periods prior to January 1, 2019 in its financial statements under prior guidance as outlined in Accounting Standards Codification Topic 840, “Leases”. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed carry forward of historical lease classifications. Adoption of this standard did not materially impact the Company’s income before income taxes and had no impact on the statement of cash flows. See Note 11, “Leases” for further details.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Summary of Significant Accounting Policies [Abstract]
Fair Value of MSA Escrow Account	The following shows the fair value of the MSA escrow account: As of December 31, 2018 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash and cash equivalents $ 4,062 $ - $ - $ 4,062 $ 2,361 $ - $ - $ 2,361 U.S. Governmental agency obligations (unrealized gain position < 12 months) 500 2 - 502 1,193 9 - 1,202 U.S. Governmental agency obligations (unrealized loss position < 12 months) - - - - 1,000 - (3 ) 997 U.S. Governmental agency obligations (unrealized loss position > 12 months) 27,511 - (1,030 ) 26,481 27,519 - (1,529 ) 25,990 $ 32,073 $ 2 $ (1,030 ) $ 31,045 $ 32,073 $ 9 $ (1,532 ) $ 30,550
Maturities of U.S. Governmental Agency Obligations	The following shows the maturities of the U.S. Governmental agency obligations: As of March 31, 2019 December 31, 2018 Less than one year $ 1,499 $ 1,499 One to five years 14,091 13,591 Five to ten years 9,453 11,152 Greater than ten years 2,968 3,470 Total U.S. Governmental agency obligations $ 28,011 $ 29,712
Deposits by Sales Year for MSA Escrow Account	The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, December 31, 2018 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,714 3,714 2005 4,552 4,552 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,619 1,619 2010 406 406 2011 193 193 2012 199 199 2013 173 173 2014 143 143 2015 101 101 2016 91 91 2017 83 83 Total $ 32,073 $ 32,073

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2019
IVG [Member]
Acquisitions [Abstract]
Acquisition	IVG markets and sells a broad array of proprietary and third-party vapor products directly to adult consumers through an online platform under brand names such as VaporFi, South Beach Smoke, and Direct Vapor. IVG operates company-owned stores under the VaporFi brand and also operates as a franchisor to franchisee-owned stores. The acquisition of IVG adds a significant business-to-consumer distribution platform to the Company’s NewGen portfolio. As of March 31, 2019, the Company had not completed the accounting for the acquisition. The following purchase price and goodwill are based on the excess of the acquisition price over the estimated fair value of the tangible and intangible assets acquired and are based on management’s preliminary estimates. Total consideration transferred $ 24,292 Adjustments to consideration transferred: Cash acquired, net of debt assumed (221 ) Working capital (245 ) Adjusted consideration transferred 23,826 Assets acquired: Working capital (primarily inventory) 3,331 Fixed assets 1,274 Intangible assets 7,880 Net assets acquired 12,485 Goodwill $ 11,341
Vapor Supply [Member]
Acquisitions [Abstract]
Acquisition	On April 30, 2018, the Company purchased the assets of Vapor Supply LLC, vaporsupply.com, and some of its affiliates including the Ecig.com domain through its subsidiary Vapor Acquisitions Company, LLC, for total consideration of $4.8 million paid in cash to strengthen its presence within the NewGen segment. Vapor Supply is a business-to-business e-commerce distribution platform servicing independent retail vape shops. Additionally, Vapor Supply manufactures and markets proprietary e-liquids under the DripCo brand and operates company-owned stores. As of March 31, 2019, the Company had not completed the accounting for the acquisition of these assets. The following fair value for working capital (primarily inventory), fixed assets, and trade name are based on management’s preliminary estimates: Fair Value Working capital $ 2,500 Fixed assets 272 Trade name 2,028 Total consideration transferred $ 4,800

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Inventories [Abstract]
Inventories	The components of inventories are as follows: March 31, 2019 December 31, 2018 Raw materials and work in process $ 3,967 $ 2,722 Leaf tobacco 35,929 34,977 Finished goods - Smokeless products 6,540 6,321 Finished goods - Smoking products 15,079 14,666 Finished goods - NewGen products 33,810 37,194 Other 903 738 96,228 96,618 LIFO reserve (5,357 ) (5,381 ) $ 90,871 $ 91,237

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant, and equipment consisted of the following: March 31, 2019 December 31, 2018 Land $ 22 $ 22 Buildings and improvements 2,320 2,320 Leasehold improvements 2,101 2,101 Machinery and equipment 14,214 13,292 Furniture and fixtures 5,003 5,045 23,660 22,780 Accumulated depreciation (12,718 ) (12,191 ) $ 10,942 $ 10,589

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Other Current Assets [Abstract]
Other Current Assets	Other current assets consisted of the following: March 31, 2019 December 31, 2018 Inventory deposits $ 7,134 $ 9,739 Other 4,532 4,955 $ 11,666 $ 14,694

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued liabilities consisted of the following: March 31, 2019 December 31, 2018 Accrued payroll and related items $ 3,093 $ 6,063 Customer returns and allowances 3,082 3,634 Taxes payable 3,758 2,138 Lease liabilities 1,700 - Other 8,786 11,090 $ 20,419 $ 22,925

Notes Payable and Long-Term D_2

Notes Payable and Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Notes payable and long-term debt consisted of the following in order of preference: March 31, 2019 December 31, 2018 2018 First Lien Term Loan $ 152,000 $ 154,000 2018 Second Lien Term Loan 40,000 40,000 Note payable - IVG 4,000 4,000 Total notes payable and long-term debt 196,000 198,000 Less deferred finance charges (3,100 ) (3,285 ) Less current maturities (12,000 ) (8,000 ) $ 180,900 $ 186,715

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Components of Lease Expense	The components of lease expense consisted of the following: Three months ended March 31, 2019 Operating lease cost Cost of sales $ 192 Selling, general and administrative 555 Variable lease cost (1) 245 Short-term lease cost 54 Sublease income (30 ) Total operating lease cost $ 1,016 (1) Variable lease expense includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying.
Operating Lease Assets and Liabilities	March 31, 2019 Assets: Right of use assets $ 10,951 Total leased assets $ 10,951 Liabilities: Current lease liabilities (2) $ 1,700 Long-term lease liabilities 9,504 Total Lease Liabilities $ 11,204 (2) Reported within accrued liabilities on the balance sheet
Operating Lease Weighted-Average Remaining Lease Term and Discount Rate	As of March 31, 2019 Weighted-average remaining lease term - operating leases 9.0 years Weighted-average discount rate - operating leases 6.49 %
Maturities of Lease Liabilities	As of March 31, 2019, maturities of lease liabilities consisted of the following: March 31, 2019 Remaining nine months of 2019 $ 1,736 2020 2,167 2021 1,788 2022 1,144 2023 973 Years thereafter 7,245 Total lease payments $ 15,053 Less: Imputed interest 3,849 Present value of lease liabilities $ 11,204

Pension and Postretirement Be_2

Pension and Postretirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Pension and Postretirement Benefit Plans [Abstract]
Net Periodic Benefit Cost	The following table provides the components of net periodic pension and postretirement benefit costs and total costs for the plans: Three Months Ended March 31, Pension Benefits Postretirement Benefits 2019 2018 2019 2018 Service cost $ 26 $ 26 $ - $ - Interest cost 130 142 25 29 Expected return on plan assets (161 ) (254 ) - - Amortization of (gains) losses 37 60 (42 ) (20 ) Net periodic benefit (income) cost $ 32 $ (26 ) $ (17 ) $ 9

Share Incentive Plans (Tables)

Share Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Share Incentive Plans [Abstract]
Stock Option Activity	There are no shares available for grant under the 2006 Plan. Stock option activity for the 2006 and 2015 Plans is summarized below: Stock Option Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Outstanding, December 31, 2017 763,672 5.73 2.36 Granted 124,100 21.27 6.33 Exercised (209,943 ) 3.97 1.47 Forfeited (18,255 ) 13.46 3.90 Outstanding, December 31, 2018 659,574 $ 9.00 $ 3.34 Granted 155,780 47.58 15.63 Exercised (22,892 ) 8.16 3.08 Forfeited (912 ) 44.69 14.64 Outstanding, March 31, 2019 791,550 $ 16.58 $ 5.75
Assumptions for Options Granted Under 2015 Plan	The following table outlines the assumptions based on the number of options granted under the 2015 Plan. February 10, 2017 May 17, 2017 March 7, 2018 March 13, 2018 March 20, 2019 Number of options granted 40,000 93,819 98,100 26,000 155,780 Options outstanding at March 31, 2019 30,700 79,874 94,730 26,000 154,950 Number exercisable at March 31, 2019 19,150 53,511 33,746 17,420 - Exercise price $ 13.00 $ 15.41 $ 21.21 $ 21.49 $ 47.58 Remaining lives 7.87 8.13 8.94 8.96 9.98 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.62 % 2.34 % Expected volatility 27.44 % 26.92 % 28.76 % 28.76 % 30.95 % Expected life 6.000 6.000 6.000 5.495 6.000 Dividend yield - - 0.83 % 0.82 % 0.42 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 6.18 $ 15.63

Income Per Share (Tables)

Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Income Per Share [Abstract]
Basic and Diluted Net Income 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, 2019 2018 Income Shares Per Share Income Shares Per Share Consolidated net income $ 6,560 $ 3,032 Basic EPS: Weighted average 19,559,596 $ 0.34 19,221,892 $ 0.16 Diluted EPS: Effect of dilutive securities: Stock options 486,368 540,302 20,045,964 $ 0.33 19,762,194 $ 0.15

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Information [Abstract]
Financial Information of Reported Segments	The tables below present financial information about reported segments: Three Months Ended March 31, 2019 2018 Net sales Smokeless products $ 22,544 $ 20,747 Smoking products 25,519 26,996 NewGen products 43,565 26,199 $ 91,628 $ 73,942 Gross profit Smokeless products $ 12,073 $ 10,993 Smoking products 13,484 13,164 NewGen products 14,907 7,652 $ 40,464 $ 31,809 Operating income (loss) Smokeless products $ 7,487 $ 6,805 Smoking products 9,946 9,544 NewGen products 2,838 1,010 Corporate unallocated (1) (8,236 ) (7,618 ) $ 12,035 $ 9,741 Interest expense, net 3,856 3,654 Investment Income (144 ) (95 ) Loss on extinguishment of debt - 2,384 Net periodic benefit income, excluding service cost (11 ) (43 ) Income before income taxes $ 8,334 $ 3,841 Capital expenditures Smokeless products $ 577 $ 349 Smoking products - - NewGen products 309 14 $ 886 $ 363 Depreciation and amortization Smokeless products $ 357 $ 339 Smoking products - - NewGen products 533 396 $ 890 $ 735 (1) Includes corporate costs that are not allocated to any of the three reportable segments. March 31, 2019 December 31, 2018 Assets Smokeless products $ 108,762 $ 99,441 Smoking products 143,108 142,520 NewGen products 93,990 95,397 Corporate unallocated (1) 1,682 2,019 $ 347,542 $ 339,377 (1) Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments.
Revenue Disaggregation - Sales Channel	NewGen net sales are broken out by sales channel below. NewGen Segment Three Months Ended March 31, 2019 2018 Wholesalers $ 2,197 $ 2,330 Retail outlets 28,645 20,884 End-customers 12,673 2,935 Other 50 50 $ 43,565 $ 26,199
Net Sales - Domestic vs. Foreign	The following table shows a breakdown of consolidated net sales between domestic and foreign customers. Three Months Ended March 31, 2019 2018 Domestic $ 88,769 $ 70,858 Foreign 2,859 3,084 Total $ 91,628 $ 73,942

Summary of Significant Accoun_4

Summary of Significant Accounting Policies, Shipping Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Shipping Costs [Abstract]
Shipping costs	$ 4.3	$ 3.2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies, Derivative Instruments (Details) - Maximum [Member]	3 Months Ended
	Mar. 31, 2019
Derivative Instruments [Abstract]
Percentage of anticipated purchases of inventory that may be hedged	100.00%
Term of hedge	12 months
Percentage of non-inventory purchases that may be hedged	90.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies, Master Settlement Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Master Settlement Agreement [Abstract]
Term for restricted withdrawal of principal from MSA escrow account	25 years
Fair Value of MSA Escrow Account [Abstract]
Cost	$ 32,073	$ 32,073
Gross unrealized gains	2	9
Gross unrealized losses	(1,030)	(1,532)
Estimated fair value	31,045	30,550
Master Settlement Agreement Escrow Account by Sales Year [Abstract]
1999	211	211
2000	1,017	1,017
2001	1,673	1,673
2002	2,271	2,271
2003	4,249	4,249
2004	3,714	3,714
2005	4,552	4,552
2006	3,847	3,847
2007	4,167	4,167
2008	3,364	3,364
2009	1,619	1,619
2010	406	406
2011	193	193
2012	199	199
2013	173	173
2014	143	143
2015	101	101
2016	91	91
2017	83	83
Total	32,073	32,073
Cash and Cash Equivalents [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	4,062	2,361
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	4,062	2,361
U. S. Governmental Agency Obligations (Unrealized Gain Position less than 12 Months) [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	500	1,193
Gross unrealized gains	2	9
Gross unrealized losses	0	0
Estimated fair value	502	1,202
U. S. Governmental Agency Obligations (Unrealized Loss Position less than 12 Months) [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	0	1,000
Gross unrealized gains	0	0
Gross unrealized losses	0	(3)
Estimated fair value	0	997
U. S. Governmental Agency Obligations (Unrealized Loss Position more than 12 Months) [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	27,511	27,519
Gross unrealized gains	0	0
Gross unrealized losses	(1,030)	(1,529)
Estimated fair value	26,481	25,990
U. S. Governmental Agency Obligations [Member]
Maturities of U.S. Governmental Agency Obligations [Abstract]
Less than one year	1,499	1,499
One to five years	14,091	13,591
Five to ten years	9,453	11,152
Greater than ten years	2,968	3,470
Total U.S. Governmental agency obligations	$ 28,011	$ 29,712

Summary of Significant Accoun_7

Summary of Significant Accounting Policies, Food and Drug Administration (Details)	3 Months Ended
	Mar. 31, 2019CategoryClass
Food and Drug Administration [Abstract]
Number of categories of tobacco products regulated by the FDA | Category	4
Number of classes of regulated tobacco products on which user fees are assessed by the FDA | Class	6

Acquisitions, IVG (Details)

Acquisitions, IVG (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 30, 2018	Mar. 31, 2019	Dec. 31, 2018
Acquisitions [Abstract]
Note payable issued for acquisition		$ 196,000	$ 198,000
Assets Acquired [Abstract]
Goodwill		$ 145,961	$ 145,939
IVG [Member]
Acquisitions [Abstract]
Equity interest acquired	100.00%
Cash paid for acquisition	$ 14,500
Common stock issued for acquisition (in shares)	153,079
Fair value of common stock issued for acquisition	$ 5,300
Note payable issued for acquisition	4,000
Maturity period of note payable		18 months
Earnouts payable to former IVG owners	4,500
Term for payment of performance-based earnouts		2 years
Earnout expense		$ 400
Purchase Price [Abstract]
Total consideration transferred	24,292
Adjustments to Consideration Transferred [Abstract]
Cash acquired, net of debt assumed	(221)
Working capital	(245)
Adjusted consideration transferred	23,826
Assets Acquired [Abstract]
Working capital (primarily inventory)	3,331
Fixed assets	1,274
Intangible assets	7,880
Net assets acquired	12,485
Goodwill	$ 11,341

Acquisitions, Vapor Supply (Det

Acquisitions, Vapor Supply (Details) - Vapor Supply [Member] $ in Thousands	Apr. 30, 2018USD ($)
Acquisitions [Abstract]
Cash paid at closing	$ 4,800
Working capital	2,500
Fixed assets	272
Trade name	2,028
Total consideration transferred	$ 4,800

Derivative Instruments (Details

Derivative Instruments (Details) € in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)	Mar. 31, 2019USD ($)	Mar. 31, 2019EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Mar. 31, 2018USD ($)
Maximum [Member]
Derivative Instruments [Abstract]
Percentage of anticipated purchases of inventory that may be hedged	100.00%
Term of hedge	12 months
Percentage of non-inventory purchases that may be hedged	90.00%
Foreign Exchange Contracts [Member]
Derivative Instruments [Abstract]
Notional amount of contracts purchased | €	€ 0	€ 14.5
Notional amount			$ 0	€ 0		€ 1.5
Fair value			0
Interest Rate Swap [Member]
Derivative Instruments [Abstract]
Notional amount			70		$ 70		$ 70
Fair value			$ 1.5		$ 0.9
Interest Rate Swap [Member] | LIBOR [Member]
Derivative Instruments [Abstract]
Interest rate percentage			2.755%	2.755%

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Thousands, € in Millions	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2019EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Mar. 31, 2018USD ($)
Fair Value of Financial Instruments [Abstract]
Note payable	$ 196,000		$ 198,000
Foreign Exchange Contracts [Member]
Fair Value of Financial Instruments [Abstract]
Notional amount	0	€ 0		€ 1.5
Gain on fair value	100
Fair value	0
Interest Rate Swap [Member]
Fair Value of Financial Instruments [Abstract]
Notional amount	70,000		70,000		$ 70,000
Fair value	1,500		900
Note Payable - IVG [Member]
Fair Value of Financial Instruments [Abstract]
Note payable	4,000		4,000
2018 First Lien Term Loan [Member]
Fair Value of Financial Instruments [Abstract]
Note payable	152,000		154,000
2018 Second Lien Term Loan [Member]
Fair Value of Financial Instruments [Abstract]
Note payable	40,000		40,000
Fair Value [Member] | 2018 First Lien Term Loan [Member]
Fair Value of Financial Instruments [Abstract]
Long-term debt	152,000		154,000
Fair Value [Member] | 2018 Second Lien Term Loan [Member]
Fair Value of Financial Instruments [Abstract]
Long-term debt	$ 40,000		$ 40,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventories [Abstract]
Raw materials and work in process	$ 3,967	$ 2,722
Leaf tobacco	35,929	34,977
Other	903	738
Inventory	96,228	96,618
LIFO reserve	(5,357)	(5,381)
Inventory, net	90,871	91,237
Inventory valuation allowance	1,500	2,500
Smokeless Products [Member]
Inventories [Abstract]
Finished goods	6,540	6,321
Smoking Products [Member]
Inventories [Abstract]
Finished goods	15,079	14,666
NewGen Products [Member]
Inventories [Abstract]
Finished goods	$ 33,810	$ 37,194

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 23,660	$ 22,780
Accumulated depreciation	(12,718)	(12,191)
Property, plant and equipment, net	10,942	10,589
Land [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	22	22
Buildings and Improvements [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	2,320	2,320
Leasehold Improvements [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	2,101	2,101
Machinery and Equipment [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	14,214	13,292
Furniture and Fixtures [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 5,003	$ 5,045

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Other Current Assets [Abstract]
Inventory deposits	$ 7,134	$ 9,739
Other	4,532	4,955
Other current assets	$ 11,666	$ 14,694

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019		Dec. 31, 2018
Accrued Liabilities [Abstract]
Accrued payroll and related items	$ 3,093		$ 6,063
Customer returns and allowances	3,082		3,634
Taxes payable	3,758		2,138
Lease liabilities	1,700	[1]	0
Other	8,786		11,090
Total accrued liabilities	$ 20,419		$ 22,925
[1]	Reported within accrued liabilities on the balance sheet.

Notes Payable and Long-Term D_3

Notes Payable and Long-Term Debt, Summary of Notes Payable and Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Notes Payable and Long-Term Debt [Abstract]
Notes payable and long-term debt	$ 196,000	$ 198,000
Less deferred finance charges	(3,100)	(3,285)
Less current maturities	(12,000)	(8,000)
Long-term debt	180,900	186,715
2018 First Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes payable and long-term debt	152,000	154,000
2018 Second Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes payable and long-term debt	40,000	40,000
Note Payable - IVG [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes payable and long-term debt	$ 4,000	$ 4,000

Notes Payable and Long-Term D_4

Notes Payable and Long-Term Debt, 2018 Credit Facility (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 07, 2018
Notes Payable and Long-Term Debt [Abstract]
Loss on extinguishment of debt	$ 0	$ (2,384)
2018 Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Secured credit facility			$ 250,000
Additional borrowing capacity under accordion feature			40,000
2018 First Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount			160,000
2018 Revolving Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity			50,000
2018 Second Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount			$ 40,000
2017 Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Loss on extinguishment of debt		$ (2,400)

Notes Payable and Long-Term D_5

Notes Payable and Long-Term Debt, 2018 First Lien Credit Facility (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 07, 2018
Letter of Credit [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity	$ 1.3
2018 First Lien Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Maturity date	Mar. 7, 2023
2018 First Lien Credit Facility [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Senior leverage ratio	3
Total leverage ratio	4
Fixed charge coverage ratio	1.20
2018 First Lien Credit Facility [Member] | Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Senior leverage ratio	3.50
Total leverage ratio	4.50
2018 Revolving Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Weighted average interest rate	6.61%
Outstanding borrowings	$ 14
Unused portion of credit facility	36
Maximum borrowing capacity		$ 50
Availability under credit facility	$ 34.7
2018 Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	2.75%
2018 Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	3.50%
2018 First Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Frequency of required payment	Quarterly
Weighted average interest rate	5.75%
2018 First Lien Term Loan [Member] | June 30, 2018 through March 31, 2020 [Member]
Notes Payable and Long-Term Debt [Abstract]
Required payment	$ 2
2018 First Lien Term Loan [Member] | June 30, 2020 through March 31, 2022 [Member]
Notes Payable and Long-Term Debt [Abstract]
Required payment	3
2018 First Lien Term Loan [Member] | June 30, 2022 and after [Member]
Notes Payable and Long-Term Debt [Abstract]
Required payment	$ 4
2018 First Lien Term Loan [Member] | LIBOR [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	2.75%
2018 First Lien Term Loan [Member] | LIBOR [Member] | Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	3.50%

Notes Payable and Long-Term D_6

Notes Payable and Long-Term Debt, 2018 Second Lien Credit Facility (Details) - 2018 Second Lien Term Loan [Member]	3 Months Ended
	Mar. 31, 2019
Notes Payable and Long-Term Debt [Abstract]
Maturity date	Mar. 7, 2024
Weighted average interest rate	9.48%
Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Senior leverage ratio	3.50
Total leverage ratio	4.50
Fixed charge coverage ratio	1.10
Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Senior leverage ratio	3.75
Total leverage ratio	4.75
LIBOR [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	7.00%

Notes Payable and Long-Term D_7

Notes Payable and Long-Term Debt, Note Payable - IVG (Details) - Note Payable - IVG [Member] $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Notes Payable and Long-Term Debt [Abstract]
Face amount	$ 4
Interest rate	6.00%
Maturity date	Mar. 5, 2020

Leases (Details)

Leases (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019		Dec. 31, 2018
Components of Lease Expense [Abstract]
Variable lease cost	[1]	$ 245
Short-term lease cost		54
Sublease income		(30)
Total operating lease cost		1,016
Assets [Abstract]
Right of use assets		10,951		$ 0
Liabilities [Abstract]
Current lease liabilities		1,700	[2]	0
Long-term lease liabilities		9,504		$ 0
Total lease liabilities		$ 11,204
Weighted-Average Remaining Lease Term and Discount Rate [Abstract]
Weighted-average remaining lease term - operating leases		9 years
Weighted-average discount rate - operating leases		6.49%
Maturities of Lease Liabilities [Abstract]
Remaining nine months of 2019		$ 1,736
2020		2,167
2021		1,788
2022		1,144
2023		973
Years thereafter		7,245
Total lease payments		15,053
Less: Imputed interest		3,849
Present value of lease liabilities		11,204
Cost of Sales [Member]
Components of Lease Expense [Abstract]
Operating lease cost		192
Selling, General and Administrative [Member]
Components of Lease Expense [Abstract]
Operating lease cost		$ 555
[1]	Variable lease expense includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying.
[2]	Reported within accrued liabilities on the balance sheet.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Taxes [Abstract]
Federal statutory rate	21.00%
Effective income tax rate	21.30%	21.00%
Discrete tax deduction related to stock option exercises	$ 0.9	$ 0.3

Pension and Postretirement Be_3

Pension and Postretirement Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Pension Benefits [Member]
Plan Contributions [Abstract]
Expected contributions in 2019	$ 0
Curtailment loss		$ 300
Net Periodic Benefit Cost [Abstract]
Service cost	26		$ 26
Interest cost	130		142
Expected return on plan assets	(161)		(254)
Amortization of (gains) losses	37		60
Net periodic benefit (income) cost	32		(26)
Postretirement Benefits [Member]
Plan Contributions [Abstract]
Expected contributions in 2019	200
Net Periodic Benefit Cost [Abstract]
Service cost	0		0
Interest cost	25		29
Expected return on plan assets	0		0
Amortization of (gains) losses	(42)		(20)
Net periodic benefit (income) cost	$ (17)		$ 9

Share Incentive Plans, Equity I

Share Incentive Plans, Equity Incentive Plans (Details) - shares	Mar. 31, 2019	Apr. 28, 2016
2015 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares available for grant (in shares)	661,437
2015 Plan [Member] | Restricted Stock [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	18,059
2015 Plan [Member] | Performance-Based Restricted Stock Units [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	272,776
2015 Plan [Member] | Stock Options [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	447,728
2015 Plan [Member] | Voting Common Stock [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)		1,400,000
2006 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares available for grant (in shares)	0

Share Incentive Plans, Stock Op

Share Incentive Plans, Stock Option Activity (Details) - 2006 and 2015 Plans [Member] - Stock Options [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Incentive Shares [Roll Forward]
Outstanding, beginning balance (in shares)	659,574	763,672	763,672
Granted (in shares)	155,780		124,100
Exercised (in shares)	(22,892)		(209,943)
Forfeited (in shares)	(912)		(18,255)
Outstanding, ending balance (in shares)	791,550		659,574
Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 9	$ 5.73	$ 5.73
Granted (in dollars per share)	47.58		21.27
Exercised (in dollars per share)	8.16		3.97
Forfeited (in dollars per share)	44.69		13.46
Outstanding, ending balance (in dollars per share)	16.58		9
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)	3.34	$ 2.36	2.36
Granted (in dollars per share)	15.63		6.33
Exercised (in dollars per share)	3.08		1.47
Forfeited (in dollars per share)	14.64		3.90
Outstanding, ending balance (in dollars per share)	$ 5.75		$ 3.34
Intrinsic value of options exercised	$ 0.8	$ 0.3

Share Incentive Plans, Assumpti

Share Incentive Plans, Assumptions for Options Granted Under 2006 Plan (Details) - 2006 Plan [Member] - Stock Options [Member]	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Share Incentive Plans [Abstract]
Expected life	10 years
Exercise Price $3.83 [Member]
Share Incentive Plans [Abstract]
Number of options (in shares) | shares	405,296
Exercise price (in dollars per share)	$ 3.83
Number of options exercisable (in shares) | shares	405,296
Remaining lives	4 years 2 months 1 day
Expected life	10 years
Exercise price (in dollars per share)	$ 3.83
Risk free interest rate	3.57%
Expected volatility	40.00%
Dividend yield	0.00%
Fair value at grant date (in dollars per share)	$ 2.17

Share Incentive Plans, Assump_2

Share Incentive Plans, Assumptions for Options Granted Under 2015 Plan (Details) - 2015 Plan [Member] - Stock Options [Member] - $ / shares	Mar. 20, 2019	Mar. 13, 2018	Mar. 07, 2018	May 17, 2017	Feb. 10, 2017	Mar. 31, 2019
February 10, 2017 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)					40,000
Options outstanding (in shares)						30,700
Number exercisable (in shares)						19,150
Exercise price (in dollars per share)						$ 13
Remaining lives						7 years 10 months 13 days
Risk free interest rate						1.89%
Expected volatility						27.44%
Expected life						6 years
Dividend yield						0.00%
Fair value at grant date (in dollars per share)						$ 3.98
May 17, 2017 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)				93,819
Options outstanding (in shares)						79,874
Number exercisable (in shares)						53,511
Exercise price (in dollars per share)						$ 15.41
Remaining lives						8 years 1 month 17 days
Risk free interest rate						1.76%
Expected volatility						26.92%
Expected life						6 years
Dividend yield						0.00%
Fair value at grant date (in dollars per share)						$ 4.60
March 7, 2018 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)			98,100
Options outstanding (in shares)						94,730
Number exercisable (in shares)						33,746
Exercise price (in dollars per share)						$ 21.21
Remaining lives						8 years 11 months 8 days
Risk free interest rate						2.65%
Expected volatility						28.76%
Expected life						6 years
Dividend yield						0.83%
Fair value at grant date (in dollars per share)						$ 6.37
March 13, 2018 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)		26,000
Options outstanding (in shares)						26,000
Number exercisable (in shares)						17,420
Exercise price (in dollars per share)						$ 21.49
Remaining lives						8 years 11 months 16 days
Risk free interest rate						2.62%
Expected volatility						28.76%
Expected life						5 years 5 months 28 days
Dividend yield						0.82%
Fair value at grant date (in dollars per share)						$ 6.18
March 20, 2019 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)	155,780
Options outstanding (in shares)						154,950
Number exercisable (in shares)						0
Exercise price (in dollars per share)						$ 47.58
Remaining lives						9 years 11 months 23 days
Risk free interest rate						2.34%
Expected volatility						30.95%
Expected life						6 years
Dividend yield						0.42%
Fair value at grant date (in dollars per share)						$ 15.63

Share Incentive Plans, Compensa

Share Incentive Plans, Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Compensation Expense [Abstract]
Compensation expense related to options	$ 0.2	$ 0.1
Unrecognized compensation expense related to options	$ 2.5
Period over which unrecognized compensation expense will be expensed	2 years 7 months 13 days

Share Incentive Plans, Performa

Share Incentive Plans, Performance-Based Restricted Stock Units (Details) - Performance-Based Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	Mar. 20, 2019	Mar. 07, 2018	Mar. 31, 2019	Mar. 31, 2018
Share Incentive Plans [Abstract]
Performance period			5 years
Period between performance period and measurement date for vesting			65 days
Unvested units outstanding (in shares)			267,900
Compensation expense			$ 0.2	$ 0.1
Unrecognized compensation expense			$ 6.7
March 7, 2018 [Member]
Share Incentive Plans [Abstract]
Number of units granted (in shares)		96,000
Fair value (in dollars per share)		$ 21.21
March 20, 2019 [Member]
Share Incentive Plans [Abstract]
Number of units granted (in shares)	92,500
Fair value (in dollars per share)	$ 47.58
Performance period			1 year
March 20, 2019 [Member]
Share Incentive Plans [Abstract]
Number of units granted (in shares)	4,876
Fair value (in dollars per share)	$ 47.58

Income Per Share (Details)

Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Per Share [Abstract]
Consolidated net income	$ 6,560	$ 3,032
Basic EPS [Abstract]
Basic weighted average shares (in shares)	19,559,596	19,221,892
Basic EPS (in dollars per share)	$ 0.34	$ 0.16
Effect of Dilutive Securities [Abstract]
Stock options (in shares)	486,368	540,302
Diluted weighted average shares (in shares)	20,045,964	19,762,194
Diluted EPS (in dollars per share)	$ 0.33	$ 0.15

Segment Information, Financial

Segment Information, Financial Information of Reportable Segments (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2019USD ($)Segment	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Information [Abstract]
Number of reportable segments | Segment		3
Segment Information [Abstract]
Net sales		$ 91,628	$ 73,942
Gross profit		40,464	31,809
Operating income (loss)		12,035	9,741
Interest expense, net		3,856	3,654
Investment income		(144)	(95)
Loss on extinguishment of debt		0	2,384
Net periodic benefit income, excluding service cost		(11)	(43)
Income before income taxes		8,334	3,841
Capital expenditures		886	363
Depreciation and amortization		890	735
Assets		347,542		$ 339,377
NewGen Products [Member]
Segment Information [Abstract]
Net sales		43,565	26,199
Corporate Unallocated [Member]
Segment Information [Abstract]
Operating income (loss)	[1]	(8,236)	(7,618)
Assets	[2]	1,682		2,019
Reportable Segments [Member] | Smokeless Products [Member]
Segment Information [Abstract]
Net sales		22,544	20,747
Gross profit		12,073	10,993
Operating income (loss)		7,487	6,805
Capital expenditures		577	349
Depreciation and amortization		357	339
Assets		108,762		99,441
Reportable Segments [Member] | Smoking Products [Member]
Segment Information [Abstract]
Net sales		25,519	26,996
Gross profit		13,484	13,164
Operating income (loss)		9,946	9,544
Capital expenditures		0	0
Depreciation and amortization		0	0
Assets		143,108		142,520
Reportable Segments [Member] | NewGen Products [Member]
Segment Information [Abstract]
Net sales		43,565	26,199
Gross profit		14,907	7,652
Operating income (loss)		2,838	1,010
Capital expenditures		309	14
Depreciation and amortization		533	$ 396
Assets		$ 93,990		$ 95,397
[1]	Includes corporate costs that are not allocated to any of the three reportable segments.
[2]	Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments.

Segment Information, Revenue Di

Segment Information, Revenue Disaggregation - Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Sales by Sales Channel [Abstract]
Net sales	$ 91,628	$ 73,942
NewGen Products [Member]
Net Sales by Sales Channel [Abstract]
Net sales	43,565	26,199
NewGen Products [Member] | Wholesalers [Member]
Net Sales by Sales Channel [Abstract]
Net sales	2,197	2,330
NewGen Products [Member] | Retail Outlets [Member]
Net Sales by Sales Channel [Abstract]
Net sales	28,645	20,884
NewGen Products [Member] | End-customers [Member]
Net Sales by Sales Channel [Abstract]
Net sales	12,673	2,935
NewGen Products [Member] | Other [Member]
Net Sales by Sales Channel [Abstract]
Net sales	$ 50	$ 50

Segment Information, Net Sales

Segment Information, Net Sales - Domestic vs. Foreign (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Information [Abstract]
Net sales	$ 91,628	$ 73,942
Reportable Geographical Component [Member] | Domestic [Member]
Segment Information [Abstract]
Net sales	88,769	70,858
Reportable Geographical Component [Member] | Foreign [Member]
Segment Information [Abstract]
Net sales	$ 2,859	$ 3,084

Dividends (Details)

Dividends (Details) - $ / shares	Apr. 12, 2019	Dec. 15, 2017	Mar. 31, 2019
Dividend Declared Q4-2017 [Member]
Dividends [Abstract]
Dividend payable, date declared			Nov. 9, 2017
Cash dividend paid (in dollars per share)		$ 0.04
Dividend payable, date to be paid			Dec. 15, 2017
Dividend payable, date of record			Nov. 27, 2017
Dividend Declared Q1-2019 [Member] | Subsequent Event [Member]
Dividends [Abstract]
Cash dividend paid (in dollars per share)	$ 0.045
Dividend payable, date to be paid	Apr. 12, 2019
Dividend payable, date of record	Mar. 22, 2019

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2019	Jun. 30, 2019
Plan [Member]
Subsequent Events [Abstract]
Gain on settlement of VMR Agreement		$ 5.5
Subsequent Event [Member]
Subsequent Events [Abstract]
Proceeds from settlement of VMR Agreement	$ 6.7