Turning Point Brands (TPB) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 28, 2021
Cover [Abstract]
Entity Registrant Name	TURNING POINT BRANDS, INC.
Entity Central Index Key	0001290677
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-37763
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0709285
Entity Address, Address Line One	5201 Interchange Way
Entity Address, City or Town	Louisville
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40229
City Area Code	502
Local Phone Number	778-4421
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TPB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,059,449

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash	$ 167,361	$ 41,765
Accounts receivable, net of allowances of $148 in 2021 and $150 in 2020	6,606	9,331
Inventories	98,351	85,856
Other current assets	24,866	26,451
Total current assets	297,184	163,403
Property, plant, and equipment, net	15,648	15,524
Deferred income taxes	0	610
Right of use assets	17,406	17,918
Deferred financing costs, net	464	641
Goodwill	159,808	159,621
Other intangible assets, net	78,945	79,422
Master Settlement Agreement (MSA) escrow deposits	31,477	32,074
Other assets	26,373	26,836
Total assets	627,305	496,049
Current liabilities:
Accounts payable	24,166	9,201
Accrued liabilities	31,845	35,225
Current portion of long-term debt	5,000	12,000
Other current liabilities	205	203
Total current liabilities	61,216	56,629
Notes payable and long-term debt	424,802	302,112
Deferred income taxes	735	0
Lease liabilities	15,570	16,117
Other long-term liabilities	0	3,704
Total liabilities	502,323	378,562
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	102,879	102,423
Cost of repurchased common stock (517,701 shares at March 31, 2021 and 398,670 shares at December 31, 2020)	(15,924)	(10,191)
Accumulated other comprehensive loss	(480)	(2,635)
Accumulated earnings	34,357	23,645
Non-controlling interest	3,954	4,050
Total stockholders' equity	124,982	117,487
Total liabilities and stockholders' equity	627,305	496,049
Common Stock, Voting [Member]
Stockholders' equity:
Common stock	196	195
Common Stock, Nonvoting [Member]
Stockholders' equity:
Common stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Accounts receivable, allowance	$ 148	$ 150
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
Repurchased common stock (in shares)	517,701	398,670
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)	19,576,821	19,532,464
Common stock, shares outstanding (in shares)	19,059,120	19,133,794
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 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Income [Abstract]
Net sales	$ 107,641	$ 90,689
Cost of sales	54,380	49,258
Gross profit	53,261	41,431
Selling, general, and administrative expenses	28,912	32,394
Operating income	24,349	9,037
Interest expense, net	4,486	3,309
Investment income	(25)	(91)
Loss on extinguishment of debt	5,706	0
Net periodic income, excluding service cost	0	(87)
Income before income taxes	14,182	5,906
Income tax expense	2,654	1,407
Consolidated net income	11,528	4,499
Net loss attributable to non-controlling interest	(255)	0
Net income attributable to Turning Point Brands, Inc.	$ 11,783	$ 4,499
Basic income per common share:
Net income attributable to Turning Point Brands, Inc. (in dollars per share)	$ 0.62	$ 0.23
Diluted income per common share:
Net income attributable to Turning Point Brands, Inc. (in dollars per share)	$ 0.57	$ 0.22
Weighted average common shares outstanding:
Basic (in shares)	19,093,961	19,689,446
Diluted (in shares)	22,665,067	20,106,800

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Comprehensive Income [Abstract]
Consolidated net income	$ 11,528	$ 4,499
Other comprehensive income, net of tax
Amortization of unrealized pension and postretirement gain (loss), net of tax of $0 in 2021 and $2 in 2020	0	9
Unrealized loss on MSA investments, net of tax of $144 in 2021 and $0 in 2020	(452)	0
Foreign currency translation, net of tax of $0 in 2021 and 2020	318	0
Unrealized gain (loss) on derivative instruments, net of tax of $937 in 2021 and $624 in 2020	2,448	(1,615)
Other comprehensive income (loss), net of tax	2,314	(1,606)
Consolidated comprehensive income	13,842	2,893
Comprehensive (loss) income attributable to non-controlling interest	(96)	0
Comprehensive income attributable to Turning Point Brands, Inc.	$ 13,938	$ 2,893

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other comprehensive income, net of tax
Amortization of unrealized pension and postretirement gain (loss), tax	$ 0	$ 2
Unrealized loss on MSA investments, tax	144	0
Foreign currency translation, tax	0	0
Unrealized gain (loss) on derivative instruments, tax	$ 937	$ 624

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Consolidated net income	$ 11,528	$ 4,499
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on extinguishment of debt	5,706	0
Gain on sale of property, plant, and equipment	(2)	0
Depreciation expense	788	851
Amortization of other intangible assets	477	425
Amortization of deferred financing costs	604	552
Deferred income taxes	552	1,006
Stock compensation expense	1,498	455
Noncash lease expense	6	13
Gain on investments	(13)	0
Changes in operating assets and liabilities:
Accounts receivable	2,735	2,596
Inventories	(12,461)	1,784
Other current assets	1,283	(2,420)
Other assets	464	(130)
Accounts payable	14,882	3,210
Accrued postretirement liabilities	0	(27)
Accrued liabilities and other	(3,806)	1,913
Net cash provided by operating activities	24,241	14,727
Cash flows from investing activities:
Capital expenditures	(842)	(877)
Restricted cash, MSA escrow deposits	(14,920)	0
Proceeds on the sale of property, plant and equipment	2	0
Net cash used in investing activities	(15,760)	(877)
Cash flows from financing activities:
Proceeds from Senior Secured Notes	250,000	0
Settlement of interest rate swaps	(3,573)	0
Payment of dividends	(958)	(886)
Payments of financing costs	(6,614)	(168)
Exercise of options	425	227
Redemption of options	(1,466)	0
Common stock repurchased	(5,733)	(2,627)
Net cash provided by (used in) financing activities	102,081	(9,694)
Net increase in cash	110,562	4,156
Effect of foreign currency translation on cash	101	0
Cash, beginning of period:
Unrestricted	41,765	95,250
Restricted	35,074	32,074
Total cash at beginning of period	76,839	127,324
Cash, end of period:
Unrestricted	167,361	99,406
Restricted	20,141	32,074
Total cash at end of period	187,502	131,480
Supplemental schedule of noncash financing activities:
Dividends declared not paid	1,071	998
Accrued expenses for incurred financing costs	301	13
2018 First Lien Term Loan [Member]
Cash flows from financing activities:
Payments of term loan	(130,000)	(2,000)
Payments of financing costs	(200)
IVG Note [Member]
Cash flows from financing activities:
Payments of term loan	$ 0	$ (4,240)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Common Stock [Member]Voting [Member]	Additional Paid-In Capital [Member]	Cost of Repurchased Common Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Earnings (Deficit) [Member]	Non-Controlling Interest [Member]	Total
Beginning balance at Dec. 31, 2019	$ 197	$ 125,469	$ 0	$ (3,773)	$ (15,308)	$ 0	$ 106,585
Beginning balance (Change in Accounting Principle [Member]) at Dec. 31, 2019	0	(24,939)	0	0	6,436		$ (18,503)
Beginning balance (in shares) at Dec. 31, 2019							19,680,673
Unrecognized pension and postretirement cost adjustment, net of tax	0	0	0	9	0		$ 9
Unrealized gain (loss) on MSA investments, net of tax							0
Unrealized gain (loss) on derivative instruments, net of tax of $937 in 2021 and $624 in 2020	0	0	0	(1,615)	0		(1,615)
Foreign currency translation, net of tax							0
Stock compensation expense	0	455	0	0	0		455
Exercise of options	$ 0	227	0	0	0		227
Exercise of options (in shares)	42,407
Cost of repurchased common stock	$ 0	0	$ (2,627)	0	0		(2,627)
Cost of repurchased common stock (in shares)			(134,130)
Dividends	0	0	$ 0	0	(998)		(998)
Net income	0	0	0	0	4,499		4,499
Ending balance at Mar. 31, 2020	197	101,212	(2,627)	(5,379)	(5,371)	0	$ 88,032
Ending balance (in shares) at Mar. 31, 2020							19,588,950
Beginning balance at Dec. 31, 2019	197	125,469	0	(3,773)	(15,308)	0	$ 106,585
Beginning balance (Change in Accounting Principle [Member]) at Dec. 31, 2019	0	(24,939)	0	0	6,436		$ (18,503)
Beginning balance (in shares) at Dec. 31, 2019							19,680,673
Ending balance at Dec. 31, 2020	195	102,423	(10,191)	(2,635)	23,645	4,050	$ 117,487
Ending balance (in shares) at Dec. 31, 2020							19,133,794
Unrecognized pension and postretirement cost adjustment, net of tax							$ 0
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	(452)	0	0	(452)
Unrealized gain (loss) on derivative instruments, net of tax of $937 in 2021 and $624 in 2020	0	0	0	2,448	0	0	2,448
Foreign currency translation, net of tax	0	0	0	159	0	159	318
Stock compensation expense	0	1,498	0	0	0	0	1,498
Exercise of options	$ 1	424	0	0	0	0	425
Exercise of options (in shares)	44,357
Redemption of options	$ 0	(1,466)	0	0	0	0	(1,466)
Cost of repurchased common stock	0	0	$ (5,733)	0	0	0	$ (5,733)
Cost of repurchased common stock (in shares)			(119,031)				(119,031)
Dividends	0	0	$ 0	0	(1,071)	0	$ (1,071)
Net income	0	0	0	0	11,783	(255)	11,528
Ending balance at Mar. 31, 2021	$ 196	$ 102,879	$ (15,924)	$ (480)	$ 34,357	$ 3,954	$ 124,982
Ending balance (in shares) at Mar. 31, 2021							19,059,120

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Change in Stockholders' Equity (Deficit) [Abstract]
Unrecognized pension and postretirement cost adjustment, tax	$ 0	$ 2
Unrealized loss on MSA investments, tax	144	0
Unrealized loss on derivative instruments, tax	937	624
Foreign currency translation, tax	$ 0	$ 0

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Description of Business and Basis of Presentation [Abstract]
Description of Business and Basis of Presentation	Note 1. Description of Business and Basis of Presentation Description of Business Turning Point Brands, Inc. and its subsidiaries (collectively referred to herein as the “Company,” “we,” “our,” or “us”) is a leading manufacturer, marketer and distributor of branded consumer products with active ingredients. We sell a wide range of products to adult consumers consisting of staple products with our iconic brands Zig-Zag ® and Stoker’s ® to our next generation products to fulfill evolving consumer preferences. We operate in segments: (i) Zig-Zag Products, (ii) Stoker’s Products, and (iii) NewGen Products. Our focus segments are led by our core, proprietary brands – Zig-Zag ® in the Zig-Zag Products segment; Stoker’s ® along with Beech-Nut ® and Trophy ® in the Stoker’s Products segment; and Nu-X TM , Solace ® along with our distribution platforms ( Vapor Beast ® , VaporFi ® and Direct Vapor ® ) in the NewGen Products segment. The Company’s products are available in more than retail outlets in North America. Basis of Presentation The accompanying unaudited 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, 2020. In the opinion of management, the unaudited, interim, consolidated financial statements included herein contain all adjustments necessary to present fairly the financial position, results of operations, and cash flows of the Company for the periods indicated. Such adjustments, other than nonrecurring adjustments separately disclosed, are of a normal and recurring nature. The operating results for interim periods are not necessarily indicative of results to be expected for a full year or future interim periods. The unaudited, interim, consolidated financial statements should be read in conjunction with the Company’s audited, consolidated financial statements and accompanying notes as of and for the year ended December 31, 2020. The accompanying interim, consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”)and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States (“GAAP”) with respect to annual financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
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, its subsidiaries, all of which are wholly-owned, and variable interest entities (“VIEs”) for which the Company is considered the primary beneficiary. All significant intercompany transactions have been eliminated . Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), which includes excise taxes and shipping and handling charges billed to customers, net of cash discounts for prompt payment, sales returns and incentives, upon delivery of goods to the customer – at which time the Company’s performance obligation is satisfied – 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 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. The Company excludes from the transaction price, sales taxes and value-added taxes imposed at the time of sale (which do not include excise taxes on smokeless tobacco, cigars or vaping products billed to customers). The Company records an allowance for sales returns, based principally on historical volume and return rates, which is included in accrued liabilities on the consolidated balance sheets. The Company records sales incentives, which consist of consumer incentives and trade promotion activities, as a reduction in revenues (a portion of which is based on amounts estimated as being due to wholesalers, retailers and consumers at the end of the period) based principally on historical volume and utilization rates. Expected payments for sales incentives are included in accrued liabilities on the consolidated balance sheets. A further requirement of ASU 2014-09 is for entities to disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The Company’s management views business performance through segments that closely resemble the performance of major product lines. Thus, the primary and most useful disaggregation of the Company’s contract revenue for decision making purposes is the disaggregation by segment which can be found in Note 18 of Notes to Consolidated Financial Statements. An additional disaggregation of contract revenue by sales channel can be found within Note 18 as well. Shipping Costs The Company records shipping costs incurred as a component of selling, general, and administrative expenses. Shipping costs incurred were approximately $ million and $ million for the three months ending March 31, 2021 and 2020, respectively Inventories Inventories are stated at the lower of cost or net realizable value. Effective January 1, 2021, the Company changed its method of accounting for inventory using the last-in, first-out (“LIFO”) method to the first-in, first-out (“FIFO”) method. The Company applied this change retrospectively to all prior periods presented, which is discussed further in Note 6. Leaf tobacco is presented in current assets in accordance with standard industry practice, notwithstanding the fact that such tobaccos are carried longer than one year for the purpose of curing. 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. In a number of states targeted flavor bans have been proposed or enacted legislatively or by the administrative process. Depending on the number and location of such bans, that legislation or regulation could have a material adverse effect on the Company’s financial position, results of operations or cash flows. Food and Drug Administration (“FDA”) continues to consider various restrictive regulations around our products, including targeted flavor bans; however, the details, timing, and ultimate implementation of such measures remain unclear. 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): Pursuant to the Master Settlement Agreement (the “MSA”) entered into in November 1998 by most states (represented by their attorneys general acting through the National Association of Attorneys General) and subsequent states’ statutes, a “cigarette manufacturer” (which is defined to include a manufacturer of make-your-own (“MYO”) cigarette tobacco) has the option of either becoming a signatory to the MSA or opening, funding, and maintaining an escrow account to have funds available for certain potential tobacco-related liabilities with sub-accounts on behalf of each settling state. Such companies are entitled to direct the investment of the escrowed funds and withdraw any appreciation, but cannot withdraw the principal for from the year of each annual deposit, except to withdraw funds deposited pursuant to an individual state’s escrow statute to pay a final judgement to that state’s plaintiffs in the event of such a final judgement against the Company. The Company chose to open and fund an escrow account as its method of compliance. It is the Company’s policy to record amounts on deposit in the escrow account for prior years as a non-current asset. Each year’s annual obligation is required to be deposited in the escrow account by April 15 of the following year. In addition to the annual deposit, many states have elected to require quarterly deposits for the previous quarter’s sales. As of March the Company had on deposit approximately , the fair value of which was approximately . At December the Company had on deposit approximately , the fair value of which was approximately . Effective in the quarter of the Company no longer sells any product covered under the MSA. Thus, absent a change in legislation, the Company will no longer be required to make deposits to the MSA escrow account. The Company has chosen to invest a portion of the MSA escrow, from time to time, 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 March and December . Fair values for the U.S. Governmental agency obligations are Level 2. The following tables show cost and estimated fair value of the assets held in the MSA account as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of As of December 31, 2020 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cost and Estimated Fair Value Cash and cash equivalents $ 17,141 $ - $ - $ 17,141 $ 32,074 U.S. Governmental agency obligations (unrealized loss position < 12 months) 14,933 - (597 ) 14,336 - $ 32,074 $ - $ (597 ) $ 31,477 $ 32,074 As of March 31, 2021 Less than one year $ - One to five years - Five to ten years 12,984 Greater than ten years 1,949 Total $ 14,933 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, 2021 December 31, 2020 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 4,553 4,553 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 $ 32,074 $ 32,074 Food and Drug Administration: FSPTCA On August 8, 2016, the FDA deeming regulation became effective. The deeming regulation gave the FDA the authority to additionally regulate cigars, pipe tobacco, e-cigarettes, vaporizers, and e-liquids as “deemed” tobacco products under the FSPTCA. The FDA assesses tobacco product user fees 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 In August 2016, the FDA’s regulatory authority under the Tobacco Control Act (the “TCA”) Under the deeming regulations, the FDA has responsibility for conducting premarket review of “new tobacco products”—defined as those products not commercially marketed in the United States as of February 15, 2007. There are three pathways for obtaining premarket authorization, including submission of a premarket tobacco product application (“PMTA”). We submitted premarket filings prior to the September 9, 2020 deadline for certain of our products and intend to supplement and complete the applications within FDA’s discretionary timeline. A successful PMTA must demonstrate that the subject product is “appropriate for the protection of public health,” taking into account the effect of the marketing of the product on all sub-populations while a Substantial Equivalence Report must demonstrate that a new product either has the same characteristics as its predicate product or different characteristics, but does not raise different questions of public health. The FDA is required under a court order to issue a decision related to the authorization of these products within twelve months; otherwise, these products cease to be subject to the FDA’s continued compliance policy, which allows products to be marketed pending premarket review. FDA may, in its discretion and on a case-by-case basis, deviate from this policy. FDA has issued a number of proposed rules related to premarket filings; however, those rules were not finalized until after September 9, 2020. As such, it is unclear whether and how FDA will apply any new or additional requirements to currently pending applications. We believe we have products that meet the requisite standards and have filed premarket filings supporting a showing of the respective required standard. However, there is no assurance that the FDA’s guidance or ultimate regulation will not change, or that the FDA will review and authorize the products in the requisite time period or that, in that circumstance, the FDA will use its discretion on a case-by-case basis to allow for the continued marketing of the products, or that unforeseen circumstances will not arise that prevent us from sufficiently supplementing or completing our applications or otherwise increase the amount of time and money we are required to spend to receive all necessary marketing orders. Although we filed many premarket applications in a timely manner, no assurance can be given that the applications will ultimately be successful. This may result in the prioritization of supplementing or completing applications for high priority SKUs in our inventory position, which could adversely impact future revenues. In addition, we currently distribute many third-party manufactured vapor products for which we will be completely dependent on the manufacturer complying with the premarket filing requirements. There can be no assurance that these third-party products will receive a marketing order. While we will take measures to pursue regulatory compliance for our own privately-branded or proprietary vape products that compete with these third-party products, there is no assurance that such proprietary products would be as successful in the marketplace or can fully displace third-party products that are currently being distributed by us, which could adversely affect our results of operations and liquidity. For a period of time after the filing deadline, we expect there to be a lack of enforcement, which may adversely affect our ability to compete in the marketplace against those who continue to sell unauthorized products. In January 2020, FDA issued a Guidance document (the “January 2020 Guidance”) that stated it would be prioritizing enforcement of several categories of electronic nicotine delivery system (“ENDS”) products: (1) flavored, cartridge-based ENDS products (other than tobacco- or menthol-flavored ENDS products; (2) ENDS products for which the manufacturer has failed to take (or is failing to take) adequate measures to prevent minors’ access; (3) ENDS products targeted to minors or whose marketing is likely to promote the use of ENDS by minors; and (4) ENDS products offered for sale after May 12, 2020, premarket application deadline (later updated to reflect the September 9, 2020 filing deadline) for which the manufacturer has not submitted a premarket application. The policy outlined several factors the agency would consider in its enforcement of flavored cigars going forward but did not restrict those products as it had considered in the March 2019 Guidance proposal. The FDA’s policy on these and other regulated products may change or expand over time in ways not yet known and may significantly impact our products or our premarket filings. Recent Accounting Pronouncements Adopted In December 2019, the FASB issued ASU 2019-12 to simplify the accounting in ASC 740, Income Taxes . This guidance removes certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. This guidance also clarifies and simplifies other areas of ASC 740. This ASU will be effective beginning in the first quarter of the Company’s fiscal year 2021. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. The ASU was effective for the Company beginning in the first quarter of 2021. The ASU did not have an impact to the Company’s financial statements and related disclosures. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) . This guidance simplifies the accounting for convertible debt instruments by reducing the number of accounting models and the number of embedded conversion features that could be recognized separately from the convertible instrument. This guidance also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. This ASU is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. This update permits the use of either the modified retrospective or fully retrospective method of transition. The Company early adopted this ASU effective January 1, 2021 using the full retrospective method of transition. The adoption resulted in a $ million increase in Accumulated earnings, a $ million increase in Notes payable and long-term debt, a $ million decrease in deferred income taxes and a $ million decrease in Additional paid-in capital as of December 31, 2020, and a $ million decrease in Accumulated deficit and a $ million decrease in Additional paid-in capital as of December 31, 2019. Interest expense will decrease by $ million annually and weighted average diluted common shares outstanding will increase by approximately million shares

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2021
Acquisitions [Abstract]
Acquisitions	Note 3. Acquisitions ReCreation Marketing In July 2019, the Company obtained a stake in a Canadian distribution entity, ReCreation for $ million paid at closing. In November 2020, the Company invested an additional $ million related to our stake. In November 2020, The Company also invested an additional $ million increasing its ownership interest to . The Company received board seats aligned with its ownership position. The Company also provided a $ million unsecured loan to ReCreation bearing interest at per annum and maturing . The Company has determined that ReCreation is a VIE due to its required subordinated financial support. The Company has determined it is the primary beneficiary due to its equity interest, additional subordinated financing and distribution agreement with ReCreation for the sale of the Company’s products. As a result, the Company began consolidating ReCreation effective November 2020. As of March 31, 2021, the Company had not completed the accounting for the acquisition. The following table summarizes the consideration transferred and calculation of goodwill based on excess of the acquisition price over the estimated fair value of the identifiable net assets acquired and are based on management’s preliminary estimates: Total consideration transferred $ 4,000 Adjustments to consideration transferred: Cash acquired (3,711 ) Working capital 418 Debt eliminated in consolidation 2,000 Adjusted consideration transferred 2,707 Assets acquired: Working capital (primarily AR and inventory) 1,551 Fixed assets and Other long term assets 70 Other liabilities (203 ) Non-controlling interest (4,050 ) Net assets acquired $ (2,632 ) Goodwill $ 5,339 The goodwill of $ million consists of the synergies expected from combining the operations and is currently not deductible for tax purposes. Standard Diversified Inc. (“SDI”) Reorganization On July 16, 2020, the Company completed its merger with SDI, whereby SDI was merged into a wholly-owned subsidiary of the Company in a tax-free downstream merger. Under the terms of the agreement, the holders of SDI’s Class A Common Stock and SDI’s Class B Common Stock (collectively, “SDI Common Stock”) received in the aggregate, in return for their SDI Common Stock, TPB Voting Common Stock (“TPB Common Stock”) at a ratio of 0.52095 shares of TPB Common Stock for each share of SDI Common Stock at the time of the merger. SDI divested its assets, other than SDI’s TPB Common Stock, prior to close such that the net liabilities at closing were minimal and the only assets that SDI retained were the remaining TPB Common Stock holdings. The transaction was accounted for as an asset purchase for $236.0 million in consideration, comprised of 7,934,704 shares of TPB Common Stock valued at $234.3 million plus transaction costs and assumed net liabilities. $236.0 million was assigned to the 8,178,918 shares of TPB Common Stock acquired. The 244,214 shares of TPB Common Stock acquired in excess of the shares issued were retired resulting in a charge of $1.7 million recorded in Accumulated earnings (deficit). The Company no longer has a controlling shareholder. Durfort Holdings In June 2020, the Company purchased certain tobacco assets and distribution rights from Durfort Holdings S.R.L. (“Durfort”) and Blunt Wrap USA for $47.7 million in total consideration, comprised of $37.7 million in cash, including $1.7 million of capitalized transaction costs, and a $10.0 million unsecured subordinated promissory note (“Promissory Note”). With this transaction, the Company acquired co-ownership in the intellectual property rights of all of Durfort’s and Blunt Wrap USA’s Homogenized Tobacco Leaf (“HTL”) cigar wraps and cones. The Company also entered into an exclusive Master Distribution Agreement to market and sell the original Blunt Wrap ®

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2021
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 of its anticipated purchases of inventory over a forward period that will not exceed rolling and consecutive months. The Company may, from time to time, hedge currency for non-inventory purchases, e.g. , production equipment, not to exceed of the purchase price. The foreign currency contracts’ fair value at March 31, 2021 , resulted in an asset of $ million included in Other current assets and a liability of $ million included in Accrued liabilities. At December 31, 2020 , the Company had forward contracts for the purchase of € million and sale of € million. The foreign currency contracts’ fair value at December 31, 2020 , resulted in an asset of $ million included in Other current assets and a liability of $ million included in Accrued liabilities. 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 fixed LIBOR at 2.755%. The swap agreements met the hedge accounting requirements; thus, any change in fair value was recorded to other comprehensive income. The Company used the Shortcut Method to account for the swap agreements. The Shortcut Method assumes the hedge to be perfectly effective; thus, there is ineffectiveness to be recorded in earnings. The swap agreements’ fair values at , resulted in a liability of $ million included in other long-term liabilities. Losses of $ million were reclassified into interest expense for the months ended . The Company terminated the interest rate swap agreement in conjunction with the prepayment of all outstanding amounts related to the Lien Credit Facility (as defined) in the quarter in the amount of $ million, which was reclassified out of accumulated other comprehensive loss into loss on extinguishment of debt.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
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. Long-Term Debt The Company’s Senior Secured Notes (as defined) bear interest at a rate of 5.625% per year and the fair value of the Senior Secured Notes approximate their carrying value of $250 million due to the recency of the notes’ issuance, related to the quarter ended March 31, 2021. The Company’s 2018 First Lien Credit Facility bore interest at variable rates that fluctuated with market rates, the carrying values of the 2018 First Lien Credit Facility approximated its fair value. As of December 31, 2020, the fair value of the 2018 First Lien Term Loan approximated $130.0 million. The Company prepaid all outstanding amounts related to the 2019 First Lien Credit Facility in the first quarter 2021. The Convertible Senior Notes (as defined) bear interest at a rate of per year and the fair value of the Convertible Senior Notes without the conversion feature approximated , with a carrying value of as of March 31, 2021 As of December 31, 2020 the fair value of the Convertible Senior Notes approximated , with a carrying value of . Note Payable – Promissory Note The fair value of the Promissory Note approximates its carrying value of due to the recency of the note’s issuance, related to the quarter ended March 31, 2021 Note Payable – Unsecured Loan The fair value of the Unsecured Note approximates its carrying value of due to the recency of the note’s issuance, related to the quarter ended March 31, 2021 See Note 11, “Notes Payable and Long-Term Debt”, for further information regarding the Company’s long-term debt. Foreign Exchange At , the Company had forward contracts for the purchase of € million and sale of € million. The fair value of the foreign exchange contracts are based upon quoted market prices for similar instruments, thus leading to them being categorized as level instruments within the fair value hierarchy, and resulted in an asset of $ million and a liability of $ million as of March . Interest Rate Swaps The Company had swap contracts for a total notional amount of $70 million at December 31, 2020. The fair values of the swap contracts were based upon quoted market prices for similar instruments, thus leading to them being categorized as level instruments within the fair value hierarchy, and resulted in a liability

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventories [Abstract]
Inventories	Note 6. Inventories Effective January 1, 2021, the Company changed its method of accounting for inventory from the LIFO method to the FIFO method. Costs determined using the LIFO method were utilized on approximately 45.1% of inventories at December 31, 2020, prior to this change in method, and consisted primarily of tobacco inventory. The Company believes the FIFO method is preferable because it: (i) conforms the accounting for all inventory with the method utilized for the majority of its inventory; (ii) better represents how management assesses and reports on the performance of the tobacco and other LIFO product lines as LIFO is excluded from management’s economic decision making; (iii) better aligns the accounting with the physical flow of that inventory; and (iv) better reflects inventory at more current costs. The Company applied this change retrospectively to all prior periods presented. This change resulted in a $4.5 million increase in Accumulated earnings as of December 31, 2020, from $12.1 million to $16.6 million and a $4.3 million decrease in Accumulated deficit as of December 31, 2019, from $15.3 million to $11.0 million. In addition, the following financial statement line items in the Company’s Consolidated Balance Sheets as of December 31, 2020 and its Consolidated Statements of Income and Consolidated Statements of Cash Flows for the three months ended March 31, 2020 were adjusted as follows: Consolidated Statement of Income For the three months ended March 31, 2020 As Originally Reported Effect of Change (a) As Adjusted Cost of sales $ 49,258 $ - $ 49,258 Income before income taxes $ 4,221 $ - $ 4,221 Income tax expense $ 946 $ - $ 946 Net income attributable to Turning Point Brands, Inc. $ 3,275 $ - $ 3,275 Earnings per common share: Basic $ 0.17 $ - $ 0.17 Diluted $ 0.16 $ - $ 0.16 Consolidated Balance Sheets December 31, 2020 As Originally Reported Effect of Change As Adjusted Inventories $ 79,750 $ 6,106 $ 85,856 Deferered income taxes $ 4,082 $ 1,584 $ 5,666 Accumulated earnings (deficit) $ 12,058 $ 4,522 $ 16,580 Consolidated Statement of Cash Flows For the three months ended March 31, 2020 As Originally Reported Effect of Change (a) As Adjusted Consolidated net income $ 3,275 $ - $ 3,275 Deferred income taxes $ 545 $ - $ 545 Inventories $ 1,784 $ - $ 1,784 (a) There was no LIFO impact for the three months ended March 31, 2020. The components of inventories are as follows: March 31, 2021 December 31, 2020 Raw materials and work in process $ 7,519 $ 8,137 Leaf tobacco 41,707 32,948 Finished goods - Zig-Zag Products 21,477 14,903 Finished goods - Stoker’s Products 9,777 9,727 Finished goods - NewGen products 16,668 18,916 Other 1,203 1,225 Inventory $ 98,351 $ 85,856 The inventory valuation allowance was $9.6 million and $9.9 million as of March 31, 2021, and December 31, 2020, respectively.

Other Current Assets

Other Current Assets	3 Months Ended
	Mar. 31, 2021
Other Current Assets [Abstract]
Other Current Assets	Note 7. Other Current Assets Other current assets consist of: March 31, 2021 December 31, 2020 Inventory deposits $ 7,369 $ 7,113 Insurance deposit 3,000 3,000 Prepaid taxes 526 813 Other 13,971 15,525 Total $ 24,866 $ 26,451

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
	Mar. 31, 2021
Property, Plant, and Equipment [Abstract]
Property, Plant, and Equipment	Note 8. Property, Plant, and Equipment Property, plant, and equipment consists of: March 31, 2021 December 31, 2020 Land $ 22 $ 22 Buildings and improvements 2,750 2,750 Leasehold improvements 4,702 4,702 Machinery and equipment 16,499 15,612 Furniture and fixtures 9,025 9,025 Gross property, plant and equipment 32,998 32,111 Accumulated depreciation (17,350 ) (16,587 ) Net property, plant and equipment $ 15,648 $ 15,524

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2021
Other Assets [Abstract]
Other Assets	Note 9. Other Assets Other assets consist of: March 31, 2021 December 31, 2020 Equity investments $ 24,016 $ 24,018 Other 2,357 2,818 Total $ 26,373 $ 26,836

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2021
Accrued Liabilities [Abstract]
Accrued Liabilities	Note 10. Accrued Liabilities Accrued liabilities consist of: March 31, 2021 December 31, 2020 Accrued payroll and related items $ 3,664 $ 9,459 Customer returns and allowances 5,683 5,259 Taxes payable 7,025 4,326 Lease liabilities 3,269 3,228 Accrued interest 2,924 2,096 Other 9,280 10,857 Total $ 31,845 $ 35,225

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	3 Months Ended
	Mar. 31, 2021
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Note 11. Notes Payable and Long-Term Debt Notes payable and long-term debt consists of the following in order of preference: March 31, 2021 December 31, 2020 Senior Secured Notes $ 250,000 $ - 2018 First Lien Term Loan - 130,000 Convertible Senior Notes 172,500 172,500 Note payable - Promissory Note 10,000 10,000 Note payable - Unsecured Loan 7,485 7,485 Gross notes payable and long-term debt 439,985 319,985 Less deferred finance charges (10,183 ) (5,873 ) Less current maturities (5,000 ) (12,000 ) Notes payable and long-term debt $ 424,802 $ 302,112 Senior Secured Notes On February 11, 2021, the Company closed a private offering (the “Offering”) of $250 million aggregate principal amount of its 5.625% senior secured notes due 2026 (the “Senior Secured Notes”). The Senior Secured Notes bear interest at a rate of 5.625% and will mature on February 15, 2026. Interest on the Senior Secured Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2021.The Company used the proceeds from the Offering (i) to repay all obligations under and terminate the 2018 First Lien Credit Facility, (ii) to pay related fees, costs, and expenses and (iii) for general corporate purposes. Obligations under the Senior Secured Notes are guaranteed by the Company’s existing and future wholly-owned domestic subsidiaries (the “Guarantors”) that guarantee any Credit Facility (as defined in the Indenture governing the Senior Secured Notes or the “Senior Secured Notes Indenture”) or capital markets debt securities of the Company or Guarantors in excess of $ million. The and the related guarantees are secured by first-priority liens on substantially all of the assets of the Company and the Guarantors, subject to certain exceptions. The Company may redeem the Senior Secured Notes, in whole or in part, at any time prior to February 15, 2023, at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to, but excluding the applicable redemption date, plus a “make-whole” premium. Thereafter, the Company may redeem the Senior Secured Notes, in whole or in part, at established redemption prices, set forth in the Senior Secured Notes Indenture, plus accrued and unpaid interest, if any. In addition, on or prior to February 15, 2023, the Company may redeem up to 40% of the aggregate principal amount of the Senior Secured Notes with the net cash proceeds from certain equity offerings at a redemption price equal to 105.625%, plus accrued and unpaid interest, if any to the redemption date; provided, however , If the Company experiences a change of control (as defined in the Senior Secured Notes Indenture), the Company must offer to repurchase the Senior Secured Notes at a repurchase price equal to 101% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest. The Indenture contains covenants that, among other things, restrict the ability of the Company and its restricted subsidiaries to: (i) grant or incur liens; (ii) incur, assume or guarantee additional indebtedness; (iii) sell or otherwise dispose of assets, including capital stock of subsidiaries; (iv) make certain investments; (v) pay dividends, make distributions or redeem or repurchase capital stock; (vi) engage in certain transactions with affiliates; and (vii) consolidate or merge with or into, or sell substantially all of our assets to another entity. These covenants are subject to a number of limitations and exceptions set forth in the Indenture. The Company incurred debt issuance costs attributable to the issuance of the Senior Secured Notes of $6.4 million which are amortized to interest expense using the effective interest method over the expected life of the Senior Secured Notes. The Indenture provides for customary events of default . 2021 Revolving Credit Facility In connection with the Offering, the Company also entered into a new $25 million senior secured revolving credit facility (the “ 2021 Revolving Credit Facility”) with the lenders party thereto (the “Lenders”) and Barclays Bank PLC, as administrative agent and collateral agent (in such capacity, the “Agent”). The 2021 Revolving Credit Facility provides for a revolving line of credit of up to $ million. Letters of credit are limited to $ million (and are a part of, and not in addition to, the revolving line of credit). The Company has t drawn any borrowings under the 2021 Revolving Credit Facility but does have letters of credit of approximately $ million outstanding under the facility. The 2021 Revolving Credit Facility will mature on if none of the Company’s Convertible Senior Notes are outstanding, and if any Convertible Senior Notes are outstanding, the date which is days prior to the maturity date of July 15, 2024 for such Convertible Senior Notes. Interest is payable on the 2021 Revolving Credit Facility at a fluctuating rate of interest determined by reference to the Eurodollar rate plus an applicable margin of 3.50% (with step-downs upon de-leveraging). The Company also has the option to borrow at a rate determined by reference to the base rate. The obligations under the 2021 Revolving Credit Agreement are guaranteed on a joint and several basis by the Guarantors. The Company’s and Guarantors’ obligations under the 2021 Revolving Credit Facility are secured on a pari passu basis with the Senior Secured Notes. The 2021 Revolving Credit Agreement contains covenants that are substantially the same as the covenants in the Senior Secured Notes Indenture. The 2021 Revolving Credit Facility also requires the maintenance of a Consolidated Leverage Ratio (as defined in the 2021 Revolving Credit Agreement) of 5.50 to 1.00 (with a step down to 5.25 to 1.00 beginning with the fiscal quarter ending March 31, 2023) at the end of each fiscal quarter when extensions of credit under the 2021 Revolving Credit Facility and certain drawn and undrawn letters of credit (excluding (a) letters of credit that have been cash collateralized and (b) letters of credit having an aggregate face amount less than $5,000,000) in the aggregate outstanding exceeds 35% of the total commitments under the 2021 Revolving Credit Facility. The Company incurred debt issuance costs attributable to the issuance of the 2021 Revolving Credit Facility of $ million which are amortized to interest expense using the effective interest method over the expected life of the 2021 Revolving Credit Facility. The 2021 Revolving Credit Agreement provides for customary events of default. 2018 Credit Facility On March 7, 2018, the Company entered into $250 million of credit facilities consisting of a $160 million 2018 First Lien Term Loan and a $50 million 2018 Revolving Credit Facility (collectively, the “2018 First Lien Credit Facility”), in each case, with Fifth Third Bank, as administrative agent, and other lenders, in addition to a $40 million 2018 Second Lien Term Loan (the “2018 Second Lien Credit Facility,” and, 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 contained a $40 million accordion feature. The 2018 Credit Facility contained 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 contained 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. See Note 19, “Dividends and Share Repurchase”, for further information regarding dividend restrictions. 2018 First Lien Credit Facility: Convertible Senior Notes In July 2019, the Company closed an offering of $172.5 million in aggregate principal amount of its 2.50%Convertible Senior Notes due July 15, 2024 (the “Convertible Senior Notes”). The Convertible Senior Notes bear interest at a rate of 2.50% per year, payable semiannually in arrears on January 15 and July 15 of each year, beginning on January 15, 2020. The Convertible Senior Notes will mature on July 15, 2024, unless earlier repurchased, redeemed or converted. The Convertible Senior Notes are senior unsecured obligations of the Company. The Convertible Senior Notes are convertible into approximately 3,205,895 shares of TPB Common Stock under certain circumstances prior to maturity at a conversion rate of 18.585 shares per $1,000 principal amount of the Convertible Senior Notes, which represents a conversion price of approximately $53.81 per share, subject to adjustment under certain conditions, but will not be adjusted for any accrued and unpaid interest. The conversion price is adjusted periodically as a result of dividends paid by the Company, in excess of pre-determined thresholds of $0.04 per share. Upon conversion, the Company may pay cash, shares of common stock or a combination of cash and stock, as determined by the Company at its discretion. The conditions required to allow the holders to convert their Convertible Senior Notes were not met as of March 31, 2021. The Company early adopted ASU 2020-06 effective January 1, 2021 on a retrospective basis to all periods presented. Under ASU 2020-06, the Company will account for the Convertible Senior Notes entirely as a liability and will no longer separately account for the Convertible Senior Notes with liability and equity components. See note 2 for further discussion of the impact of the adoption of ASU 2020-06. The Company incurred debt issuance costs attributable to the Convertible Senior Notes of $5.9 million which are amortized to interest expense using the effective interest method over the expected life of the Convertible Senior Notes. In connection with the Convertible Senior Notes offering, the Company entered into privately negotiated capped call transactions with certain financial institutions. The capped call transactions have a strike price of $53.81 per and a cap price of $82.86 per share, and are exercisable when, and if, the Convertible Senior Notes are converted. The Company paid $20.53 million for these capped calls at the time they were entered into and charged that amount to additional paid-in capital. Promissory Note On , in connection with the acquisition of certain Durfort assets, the Company issued the Promissory Note in the principal amount of $ million (the “Principal Amount”), with an annual interest rate of , payable , with the payment due . The Principal Amount is payable in $ million installments, with the installment due months after the closing date of the acquisition ( ), and the installment due months after the closing date of the acquisition. The installment is subject to reduction for certain amounts payable to the Company as a holdback. Unsecured Loan On , the Lien Credit Facility was amended to allow for an unsecured loan under the Coronavirus Aid, Relief, and Economic Security Act of (“CARES”). On , National Tobacco Company, L.P., a subsidiary of the Company, entered into a loan agreement with Regions Bank guaranteed by the Small Business Administration for a $ million unsecured loan. The proceeds of the loan were received on . The loan is scheduled to mature on and has a interest rate. Note Payable – IVG In September 2018, the Company issued a note payable to IVG’s former shareholders (“IVG Note”). The IVG Note had a principal amount of $4.0 million with an interest rate of 6.0% per year and matured on March 5, 2020. All principal and accrued and unpaid interest under the IVG Note were subject to indemnification obligations of the sellers pursuant to the International Vapor Group Stock Purchase Agreement dated as of September 5, 2018. The carrying amount of the IVG Note, $4.2 million, was deposited into an escrow account pending agreement with the sellers of any indemnification obligations.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Note 12. Leases The Company’s leases consist primarily of leased property for manufacturing warehouse, head offices and retail space as well as vehicle leases. At lease inception, the Company recognizes a lease right of use asset and lease liability calculated as the present value of future minimum lease payments. In general, the Company does not recognize any renewal periods within the lease terms as there are no significant barriers to ending the lease at the initial term. Lease and non-lease components are accounted for as a single lease component. 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, 2021 2020 Operating lease cost Cost of sales $ 225 $ 233 Selling, general and administrative 752 398 Variable lease cost (1) 205 312 Short-term lease cost 11 83 Sublease income (30 ) (30 ) Total $ 1,163 $ 996 (1) Variable lease cost includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying. March 31, 2021 December 31, 2020 Assets: Right of use assets $ 17,406 $ 17,918 Total lease assets $ 17,406 $ 17,918 Liabilities: Current lease liabilities $ 3,269 $ 3,228 Long-term lease liabilities 15,570 16,117 Total lease liabilities $ 18,839 $ 19,345 (2) Reported within accrued liabilities on the balance sheet As of March 31, 2021 2020 Weighted-average remaining lease term - operating leases 7.1 years 7.8 years Weighted-average discount rate - operating leases 4.93 % 5.84 % Nearly all the lease contracts for the Company do not provide a readily determinable implicit interest rate. For these contracts, the Company uses a discount rate that approximates its incremental borrowing rate at the time of the lease commencement. As of March 31, 2021, maturities of lease liabilities consisted of the following: March 31, 2021 2021 $ 3,078 2022 3,795 2023 3,528 2024 2,485 2025 2,125 Years thereafter 7,427 Total lease payments $ 22,438 Less: Imputed interest 3,599 Present value of lease liabilities $ 18,839

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Taxes [Abstract]
Income Taxes	Note 13. Income Taxes The Company’s effective income tax rate for the three ended March 31, 2021, was 18.7% which includes a discrete tax deduction of $3.3 million for the three months ended March 31, 2021 relating to stock option exercises. The Company’s effective income tax rate for the three months ended March 31, 2020, was 23.8% which includes a discrete tax deduction of $0.7 million for the three months ended March 31, 2020 relating to stock option exercises. 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 2017.

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans	3 Months Ended
	Mar. 31, 2021
Pension and Postretirement Benefit Plans [Abstract]
Pension and Postretirement Benefit Plans	Note 14. Pension and Postretirement Benefit Plans The Company had 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 Company’s policy was to make the minimum amount of contributions that can be deducted for federal income taxes. The Company made no contributions to the pension plan in 2020. In October 2019, the Company elected to terminate the defined benefit pension plan, effective December 31, 2019 with final distributions made in third quarter of 2020. The Company sponsored a defined benefit postretirement plan that covered hourly employees. This plan provided medical and dental benefits. This plan was contributory with retiree contributions adjusted annually. The Company’s policy was to make contributions equal to benefits paid during the year. In October 2019, the Company amended the plan to cease benefits effective June 30, 2020. 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 2021 2020 2021 2020 Service cost $ - $ - $ - $ - Interest cost - 95 - - Expected return on plan assets - (161 ) - - Amortization of (gains) losses - 36 - (57 ) Net periodic benefit income $ - $ (30 ) $ - $ (57 )

Share Incentive Plans

Share Incentive Plans	3 Months Ended
	Mar. 31, 2021
Share Incentive Plans [Abstract]
Share Incentive Plans	Note 15. Share Incentive Plans On March 22, 2021, the Company’s Board of Directors adopted the Turning Point Brands, Inc. 2021 Equity Incentive Plan (the “2021 Plan”), subject to the approval of our shareholders, pursuant to which awards may be granted to employees, non-employee directors, and consultants. In addition, the 2021 Plan provides for the granting of nonqualified stock options to employees of the Company or any subsidiary of the Company. Pursuant to the 2021 Plan, 1,290,000 shares, plus any shares remaining available for issuance under the 2015 Equity Incentive Plan (the “2015 Plan”), of TPB 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 2021 Plan is scheduled to terminate on March 21, 2031. The 2021 Plan is administered by the compensation 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, 2021, there were no awards granted under the 2021 Plan. There are 1,290,000 shares, plus any shares remaining available for issuance under the 2015 Plan, available for grant under the 2021 Plan. The Company intends on seeking shareholder approval of the plan at its 2021 annual meeting of shareholders. Until the 2021 Plan is approved by shareholders, no awards may be issued thereunder. On April 28, 2016, the Board of Directors of the Company adopted the Turning Point Brands, Inc., 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 TPB 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 the Committee. The Committee determines the vesting criteria for the awards, with such criteria to be specified in the award agreement. As of March 31, 2021, net of forfeitures, there were 16,159 shares of restricted stock, 563,911 PRSUs, and 707,878 options granted under the 2015 Plan. There are 112,052 shares available for grant under the 2015 Plan. The 2015 Plan will terminate upon approval by the Company’s shareholders of the 2021 Plan. However, all awards issued under the 2015 Plan that have not been previously terminated or forfeited will remain outstanding and continue unaffected upon termination of the 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, 2019 696,716 $ 18.13 $ 6.17 Granted 155,000 14.85 4.41 Exercised (135,146 ) 6.37 2.74 Forfeited (5,510 ) 27.25 8.64 Outstanding, December 31, 2020 711,060 19.58 6.42 Granted 100,000 51.75 13.77 Exercised (74,615 ) 5.70 2.66 Forfeited (850 ) 21.63 6.15 Outstanding, March 31 2021 735,595 $ 25.36 $ 7.80 Under the 2006 and 2015 Plans, the total intrinsic value of options exercised during the three months ended March 31, 2021 and 2020, was $3.3 million, and $0.9 million, respectively. At March 31,2021, under the 2006 Plan, the outstanding stock options’ exercise price for 133,612 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 2.89 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, the weighted average fair value of options was determined using the Black-Scholes model assuming a ten-year life from grant date, a current share price and exercise price of $3.83, a risk-free interest rate of 3.57%, volatility of 40%, and no assumed dividend yield. Based on these assumptions, the fair value of these options is approximately $2.17 per share option granted. At March 31, 2021, 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 October 24, 2019 March 18, 2020 February 18, 2021 Number of options granted 40,000 93,819 98,100 26,000 155,780 25,000 155,000 100,000 Options outstanding at March 31 2021 27,050 54,183 77,967 26,000 144,134 25,000 147,799 99,850 Number exercisable at March 31 2021 27,050 54,183 77,967 26,000 96,076 16,750 47,413 - Exercise price $ 13.00 $ 15.41 $ 21.21 $ 21.49 $ 47.58 $ 20.89 $ 14.85 $ 51.75 Remaining lives 5.87 6.13 6.94 6.96 7.98 8.57 8.97 9.89 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.62 % 2.34 % 1.58 % 0.79 % 0.56 % Expected volatility 27.44 % 26.92 % 28.76 % 28.76 % 30.95 % 31.93 % 35.72 % 28.69 % Expected life 6.000 6.000 6.000 5.495 6.000 6.000 6.000 6.000 Dividend yield - - 0.83 % 0.82 % 0.42 % 0.95 % 1.49 % 0.55 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 6.18 $ 15.63 $ 6.27 $ 4.41 $ 13.77 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 and for the three months ended March 31, 2021 and 2020 respectively. Total unrecognized compensation expense related to options at March 31, 2021 is , which will be expensed over years. Performance-Based Restricted Stock Units PRSUs are restricted stock units subject to both performance-based and service-based vesting conditions. The number of shares of TPB Common Stock 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 period. PRSUs will vest on the measurement date, which is no more than days after the performance period provided the applicable service and performance conditions are satisfied. As of March 31, 2021 there are PRSUs outstanding, all of which are unvested. The following table outlines the PRSUs granted and outstanding as of March 31, 2021 March 31, 2017 March 7, 2018 March 20, 2019 March 20, 2019 July 19, 2019 March 18, 2020 December 28, 2020 February 18, 2021 Number of PRSUs granted 94,000 96,000 92,500 4,901 88,582 94,000 88,169 100,000 PRSUs outstanding at March 31 2021 83,000 93,000 85,250 - 21,342 93,350 88,169 99,800 Fair value as of grant date $ 15.60 $ 21.21 $ 47.58 $ 47.58 $ 52.15 $ 14.85 $ 46.42 $ 51.75 Remaining lives 0.75 1.75 2.75 - 1.75 3.75 2.75 4.75 The Company recorded compensation expense related to the PRSUs of approximately and in the consolidated statements of income for the three months ended March 31,2021 and 2020 respectively, based on the probability of achieving the performance condition. Total unrecognized compensation expense related to these awards at March 31, 2021 is which will be expensed over the service periods based on the probability of achieving the performance condition.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2021
Contingencies [Abstract]
Contingencies	Note 16. Contingencies On October 9, 2020, a purported stockholder of Turning Point Brands, Inc., Paul-Emile Berteau, filed a complaint in the Delaware Court of Chancery relating to the merger of SDI with a subsidiary of the Company pursuant to the Agreement and Plan of Merger and Reorganization, dated as of April 7, 2020, by and among TPB, SDI and Merger Sub (the “SDI Merger”). The complaint asserts derivative counts purportedly on behalf of TPB for breaches of fiduciary duty against the Board of Directors of Turning Point Brands, Inc. and other parties. The third count asserts a direct claim against the Company and its Board of Directors seeking a declaration that TPB’s Bylaws are inconsistent with TPB’s certificate of incorporation. 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 subject to several lawsuits alleging personal injuries resulting from malfunctioning vaporizer devices or consumption of e-liquids 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. We have several subsidiaries engaged in making, distributing, and selling vapor products. As a result of the overall publicity and controversy surrounding the vapor industry generally, many companies have received informational subpoenas from various regulatory bodies and in some jurisdictions regulatory lawsuits have been filed regarding marketing practices and possible underage sales. We expect that our subsidiaries will be subject to some such cases and investigative requests. In the acquisition of the vapor businesses, we negotiated financial “hold-backs”, which we expect to be able to use to defray expenses associated with the information production and the cost of defending any such lawsuits as well as the franchisee lawsuit. To the extent that litigation becomes necessary, we believe that the subsidiaries have strong factual and legal defenses against claims that they unfairly marketed vapor products. We have two franchisor subsidiaries. Like many franchise businesses, in the ordinary course of their business, these subsidiaries are from time to time responding parties to arbitration demands brought by franchisees. One of our subsidiaries, which we acquired in 2018, is the franchisor of the VaporFi system. This subsidiary is a responding party in an arbitration brought by a franchisee claiming, among other things, violations of Federal Trade Commission Rules and Florida law. These allegations relate to the franchise disclosure document (FDD) utilized by the franchise system, a small vapor store chain, prior to our acquisition of the chain in 2018. We believe that we have good and valid substantive defenses against these claims and will vigorously defend ourselves in the arbitration. We have also been named in a lawsuit brought by a different franchisee represented by the same firm that represents the plaintiff in the action described above. This case relates to the termination of the franchise agreement by the franchisor for failure to pay franchising fees and our subsequent demand that the franchisee cease using our marks and de-image locations formerly housing the franchises. The franchisee filed suit against us in the U.S. District Court for the Southern District of Florida sixteen months after our demand. The franchisee is claiming tortious interference and conversion. We believe that the suit was improperly brought before the U.S. District Court for the South District of Florida because the related franchising agreements included a mandatory arbitration clause. We also believe we have valid substantive defenses against the claims and intend on vigorously defending our interests in this matter.

Income Per Share

Income Per Share	3 Months Ended
	Mar. 31, 2021
Income Per Share [Abstract]
Income Per Share	Note 17. 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, 2021 2020 Income Shares Per Share Income Shares Per Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 11,783 $ 4,499 Denominator Weighted average 19,093,961 $ 0.62 19,689,446 $ 0.23 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 11,783 $ 4,499 Interest expense related to Convertible Senior Notes, net of tax 1,054 - Diluted net income attributable to Turning Point Brands. Inc. $ 12,837 $ 4,499 Denominator Basic weighted average 19,093,961 19,689,446 Convertible Senior Notes 3,205,895 - Stock options 365,211 417,354 22,665,067 $ 0.57 20,106,800 $ 0.22 For the three months ended March 31, 2020, the effect of the 3,202,808 shares issuable upon conversion of the Convertible Senior Notes were excluded from the diluted net income per share calculation because the effect would have been antidilutive.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Information [Abstract]
Segment Information	Note 18. Segment Information In accordance with ASC 280, Segment Reporting, the Company has three reportable segments: (1) Zig-Zag Products; (2) Stoker’s Products; and (3) NewGen Products. The Zig-Zag Products segment markets and distributes (a) rolling papers, tubes, and related products; and (b) finished cigars and MYO cigar wraps. The Stoker’s Products segment (a) manufactures and markets moist snuff and (b) contracts for and markets loose leaf chewing tobacco products. The NewGen Products segment (a) markets and distributes CBD, liquid vapor products and certain other products without tobacco and/or nicotine; (b) distributes a wide assortment of products to non-traditional retail outlets via VaporBeast; and (c) markets and distributes a wide assortment of products to individual consumers via the VaporFi B2C online platform. Products in the Zig-Zag Products and Stoker’s Products segments are distributed primarily through wholesale distributors in the United States while products in the NewGen Products segment are distributed primarily through e-commerce to non-traditional retail outlets and direct to consumers 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. The tables below present financial information about reported segments: Three Months Ended March 31, 2021 2020 Net sales Zig-Zag products $ 41,004 $ 28,914 Stoker’s products 29,255 26,495 NewGen products 37,382 35,280 Total $ 107,641 $ 90,689 Gross profit Zig-Zag products $ 24,896 $ 16,132 Stoker’s products 15,892 13,874 NewGen products 12,473 11,425 Total $ 53,261 $ 41,431 Operating income (loss) Zig-Zag products $ 19,437 $ 12,417 Stoker’s products 12,255 9,746 NewGen products 2,006 477 Corporate unallocated (1)(2) (9,349 ) (13,603 ) Total $ 24,349 $ 9,037 Interest expense, net 4,486 3,309 Investment income (25 ) (91 ) Loss on extinguishment of debt 5,706 - Net periodic income, excluding service cost - (87 ) Income before income taxes $ 14,182 $ 5,906 Capital expenditures Zig-Zag products $ - $ - Stoker’s products 840 860 NewGen products 2 17 Total $ 842 $ 877 Depreciation and amortization Zig-Zag products $ 114 $ - Stoker’s products 635 519 NewGen products 516 757 Total $ 1,265 $ 1,276 (1) Includes corporate costs that are not allocated to any of the reportable segments. (2) Includes costs related to PMTA of $5.9 million in 2020. March 31, 2021 December 31, 2020 Assets Zig-Zag products $ 212,400 $ 206,900 Stoker’s products 148,093 133,016 NewGen products 91,616 91,116 Corporate unallocated (1) 175,196 65,017 Total $ 627,305 $ 496,049 (1) Includes assets not assigned to the reportable segments. All goodwill has been allocated to the reportable segments. Revenue Disaggregation—Sales Channel Revenues of the Zig-Zag Products and Stoker’s Products segments are primarily comprised of sales made to wholesalers while NewGen sales are made business to business and business to consumer, both online and through our corporate retail stores. NewGen net sales are broken out by sales channel below. NewGen Segment Three Months Ended March 31, 2021 2020 Business to Business $ 27,257 $ 25,278 Business to Consumer - Online 10,033 8,134 Business to Consumer - Corporate store - 1,794 Other 92 74 Total $ 37,382 $ 35,280 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, 2021 2020 Domestic $ 100,127 $ 87,568 Foreign 7,514 3,121 Total $ 107,641 $ 90,689

Dividends and Share Repurchase

Dividends and Share Repurchase	3 Months Ended
	Mar. 31, 2021
Dividends and Share Repurchase [Abstract]
Dividends and Share Repurchase	Note 19. Dividends and Share Repurchase The most recent dividend of $0.055 per common share was paid on April 9, 2021, to shareholders of record at the close of business on March 19, 2021. Dividends are considered restricted payments under the Senior Secured Notes Indenture and Revolving 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 earnings and market capitalization restrictions limit the aggregate amount of restricted, quarterly dividends during a fiscal year. On February 25, 2020, the Company’s Board of Directors approved a $50.0 million share repurchase program, which is intended for opportunistic execution based upon a variety of factors including market dynamics. The program is subject to the ongoing discretion of the Board. The total number of shares repurchased for the three months ended March 31, 2021, was 119,031 shares for a total cost of $5.7 million and an average price per share of $48.16. $34.1 million remains available for share repurchases under the program at March 31, 2021.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 20. Subsequent Events On April 19, 2021, the Company invested $8.7 million in Docklight Brands, Inc., a pioneering consumer products company with celebrated brands including Marley Natural ® Marley Marley

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Description of Business and Basis of Presentation [Abstract]
Basis of Presentation	The accompanying unaudited 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, 2020. In the opinion of management, the unaudited, interim, consolidated financial statements included herein contain all adjustments necessary to present fairly the financial position, results of operations, and cash flows of the Company for the periods indicated. Such adjustments, other than nonrecurring adjustments separately disclosed, are of a normal and recurring nature. The operating results for interim periods are not necessarily indicative of results to be expected for a full year or future interim periods. The unaudited, interim, consolidated financial statements should be read in conjunction with the Company’s audited, consolidated financial statements and accompanying notes as of and for the year ended December 31, 2020. The accompanying interim, consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”)and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States (“GAAP”) with respect to annual financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries, all of which are wholly-owned, and variable interest entities (“VIEs”) for which the Company is considered the primary beneficiary. All significant intercompany transactions have been eliminated .
Revenue Recognition	Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), which includes excise taxes and shipping and handling charges billed to customers, net of cash discounts for prompt payment, sales returns and incentives, upon delivery of goods to the customer – at which time the Company’s performance obligation is satisfied – 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 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. The Company excludes from the transaction price, sales taxes and value-added taxes imposed at the time of sale (which do not include excise taxes on smokeless tobacco, cigars or vaping products billed to customers). The Company records an allowance for sales returns, based principally on historical volume and return rates, which is included in accrued liabilities on the consolidated balance sheets. The Company records sales incentives, which consist of consumer incentives and trade promotion activities, as a reduction in revenues (a portion of which is based on amounts estimated as being due to wholesalers, retailers and consumers at the end of the period) based principally on historical volume and utilization rates. Expected payments for sales incentives are included in accrued liabilities on the consolidated balance sheets. A further requirement of ASU 2014-09 is for entities to disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The Company’s management views business performance through segments that closely resemble the performance of major product lines. Thus, the primary and most useful disaggregation of the Company’s contract revenue for decision making purposes is the disaggregation by segment which can be found in Note 18 of Notes to Consolidated Financial Statements. An additional disaggregation of contract revenue by sales channel can be found within Note 18 as well.
Shipping Costs	Shipping Costs The Company records shipping costs incurred as a component of selling, general, and administrative expenses. Shipping costs incurred were approximately $ million and $ million for the three months ending March 31, 2021 and 2020, respectively
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Effective January 1, 2021, the Company changed its method of accounting for inventory using the last-in, first-out (“LIFO”) method to the first-in, first-out (“FIFO”) method. The Company applied this change retrospectively to all prior periods presented, which is discussed further in Note 6. Leaf tobacco is presented in current assets in accordance with standard industry practice, notwithstanding the fact that such tobaccos are carried longer than one year for the purpose of curing.
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. In a number of states targeted flavor bans have been proposed or enacted legislatively or by the administrative process. Depending on the number and location of such bans, that legislation or regulation could have a material adverse effect on the Company’s financial position, results of operations or cash flows. Food and Drug Administration (“FDA”) continues to consider various restrictive regulations around our products, including targeted flavor bans; however, the details, timing, and ultimate implementation of such measures remain unclear. 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): Pursuant to the Master Settlement Agreement (the “MSA”) entered into in November 1998 by most states (represented by their attorneys general acting through the National Association of Attorneys General) and subsequent states’ statutes, a “cigarette manufacturer” (which is defined to include a manufacturer of make-your-own (“MYO”) cigarette tobacco) has the option of either becoming a signatory to the MSA or opening, funding, and maintaining an escrow account to have funds available for certain potential tobacco-related liabilities with sub-accounts on behalf of each settling state. Such companies are entitled to direct the investment of the escrowed funds and withdraw any appreciation, but cannot withdraw the principal for from the year of each annual deposit, except to withdraw funds deposited pursuant to an individual state’s escrow statute to pay a final judgement to that state’s plaintiffs in the event of such a final judgement against the Company. The Company chose to open and fund an escrow account as its method of compliance. It is the Company’s policy to record amounts on deposit in the escrow account for prior years as a non-current asset. Each year’s annual obligation is required to be deposited in the escrow account by April 15 of the following year. In addition to the annual deposit, many states have elected to require quarterly deposits for the previous quarter’s sales. As of March the Company had on deposit approximately , the fair value of which was approximately . At December the Company had on deposit approximately , the fair value of which was approximately . Effective in the quarter of the Company no longer sells any product covered under the MSA. Thus, absent a change in legislation, the Company will no longer be required to make deposits to the MSA escrow account. The Company has chosen to invest a portion of the MSA escrow, from time to time, 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 March and December . Fair values for the U.S. Governmental agency obligations are Level 2. The following tables show cost and estimated fair value of the assets held in the MSA account as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of As of December 31, 2020 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cost and Estimated Fair Value Cash and cash equivalents $ 17,141 $ - $ - $ 17,141 $ 32,074 U.S. Governmental agency obligations (unrealized loss position < 12 months) 14,933 - (597 ) 14,336 - $ 32,074 $ - $ (597 ) $ 31,477 $ 32,074 As of March 31, 2021 Less than one year $ - One to five years - Five to ten years 12,984 Greater than ten years 1,949 Total $ 14,933 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, 2021 December 31, 2020 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 4,553 4,553 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 $ 32,074 $ 32,074 Food and Drug Administration: FSPTCA On August 8, 2016, the FDA deeming regulation became effective. The deeming regulation gave the FDA the authority to additionally regulate cigars, pipe tobacco, e-cigarettes, vaporizers, and e-liquids as “deemed” tobacco products under the FSPTCA. The FDA assesses tobacco product user fees 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 In August 2016, the FDA’s regulatory authority under the Tobacco Control Act (the “TCA”) Under the deeming regulations, the FDA has responsibility for conducting premarket review of “new tobacco products”—defined as those products not commercially marketed in the United States as of February 15, 2007. There are three pathways for obtaining premarket authorization, including submission of a premarket tobacco product application (“PMTA”). We submitted premarket filings prior to the September 9, 2020 deadline for certain of our products and intend to supplement and complete the applications within FDA’s discretionary timeline. A successful PMTA must demonstrate that the subject product is “appropriate for the protection of public health,” taking into account the effect of the marketing of the product on all sub-populations while a Substantial Equivalence Report must demonstrate that a new product either has the same characteristics as its predicate product or different characteristics, but does not raise different questions of public health. The FDA is required under a court order to issue a decision related to the authorization of these products within twelve months; otherwise, these products cease to be subject to the FDA’s continued compliance policy, which allows products to be marketed pending premarket review. FDA may, in its discretion and on a case-by-case basis, deviate from this policy. FDA has issued a number of proposed rules related to premarket filings; however, those rules were not finalized until after September 9, 2020. As such, it is unclear whether and how FDA will apply any new or additional requirements to currently pending applications. We believe we have products that meet the requisite standards and have filed premarket filings supporting a showing of the respective required standard. However, there is no assurance that the FDA’s guidance or ultimate regulation will not change, or that the FDA will review and authorize the products in the requisite time period or that, in that circumstance, the FDA will use its discretion on a case-by-case basis to allow for the continued marketing of the products, or that unforeseen circumstances will not arise that prevent us from sufficiently supplementing or completing our applications or otherwise increase the amount of time and money we are required to spend to receive all necessary marketing orders. Although we filed many premarket applications in a timely manner, no assurance can be given that the applications will ultimately be successful. This may result in the prioritization of supplementing or completing applications for high priority SKUs in our inventory position, which could adversely impact future revenues. In addition, we currently distribute many third-party manufactured vapor products for which we will be completely dependent on the manufacturer complying with the premarket filing requirements. There can be no assurance that these third-party products will receive a marketing order. While we will take measures to pursue regulatory compliance for our own privately-branded or proprietary vape products that compete with these third-party products, there is no assurance that such proprietary products would be as successful in the marketplace or can fully displace third-party products that are currently being distributed by us, which could adversely affect our results of operations and liquidity. For a period of time after the filing deadline, we expect there to be a lack of enforcement, which may adversely affect our ability to compete in the marketplace against those who continue to sell unauthorized products. In January 2020, FDA issued a Guidance document (the “January 2020 Guidance”) that stated it would be prioritizing enforcement of several categories of electronic nicotine delivery system (“ENDS”) products: (1) flavored, cartridge-based ENDS products (other than tobacco- or menthol-flavored ENDS products; (2) ENDS products for which the manufacturer has failed to take (or is failing to take) adequate measures to prevent minors’ access; (3) ENDS products targeted to minors or whose marketing is likely to promote the use of ENDS by minors; and (4) ENDS products offered for sale after May 12, 2020, premarket application deadline (later updated to reflect the September 9, 2020 filing deadline) for which the manufacturer has not submitted a premarket application. The policy outlined several factors the agency would consider in its enforcement of flavored cigars going forward but did not restrict those products as it had considered in the March 2019 Guidance proposal. The FDA’s policy on these and other regulated products may change or expand over time in ways not yet known and may significantly impact our products or our premarket filings.
Recent Accounting Pronouncements Adopted	Recent Accounting Pronouncements Adopted In December 2019, the FASB issued ASU 2019-12 to simplify the accounting in ASC 740, Income Taxes . This guidance removes certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. This guidance also clarifies and simplifies other areas of ASC 740. This ASU will be effective beginning in the first quarter of the Company’s fiscal year 2021. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. The ASU was effective for the Company beginning in the first quarter of 2021. The ASU did not have an impact to the Company’s financial statements and related disclosures. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) . This guidance simplifies the accounting for convertible debt instruments by reducing the number of accounting models and the number of embedded conversion features that could be recognized separately from the convertible instrument. This guidance also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. This ASU is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. This update permits the use of either the modified retrospective or fully retrospective method of transition. The Company early adopted this ASU effective January 1, 2021 using the full retrospective method of transition. The adoption resulted in a $ million increase in Accumulated earnings, a $ million increase in Notes payable and long-term debt, a $ million decrease in deferred income taxes and a $ million decrease in Additional paid-in capital as of December 31, 2020, and a $ million decrease in Accumulated deficit and a $ million decrease in Additional paid-in capital as of December 31, 2019. Interest expense will decrease by $ million annually and weighted average diluted common shares outstanding will increase by approximately million shares

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Fair Value of MSA Escrow Account	The Company has chosen to invest a portion of the MSA escrow, from time to time, 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 March and December . Fair values for the U.S. Governmental agency obligations are Level 2. The following tables show cost and estimated fair value of the assets held in the MSA account as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of As of December 31, 2020 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cost and Estimated Fair Value Cash and cash equivalents $ 17,141 $ - $ - $ 17,141 $ 32,074 U.S. Governmental agency obligations (unrealized loss position < 12 months) 14,933 - (597 ) 14,336 - $ 32,074 $ - $ (597 ) $ 31,477 $ 32,074
Maturities of U.S. Governmental Agency Obligations	As of March 31, 2021 Less than one year $ - One to five years - Five to ten years 12,984 Greater than ten years 1,949 Total $ 14,933
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, 2021 December 31, 2020 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 4,553 4,553 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 $ 32,074 $ 32,074

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2021
Acquisitions [Abstract]
Acquisition of ReCreation Marketing	In July 2019, the Company obtained a stake in a Canadian distribution entity, ReCreation for $ million paid at closing. In November 2020, the Company invested an additional $ million related to our stake. In November 2020, The Company also invested an additional $ million increasing its ownership interest to . The Company received board seats aligned with its ownership position. The Company also provided a $ million unsecured loan to ReCreation bearing interest at per annum and maturing . The Company has determined that ReCreation is a VIE due to its required subordinated financial support. The Company has determined it is the primary beneficiary due to its equity interest, additional subordinated financing and distribution agreement with ReCreation for the sale of the Company’s products. As a result, the Company began consolidating ReCreation effective November 2020. As of March 31, 2021, the Company had not completed the accounting for the acquisition. The following table summarizes the consideration transferred and calculation of goodwill based on excess of the acquisition price over the estimated fair value of the identifiable net assets acquired and are based on management’s preliminary estimates: Total consideration transferred $ 4,000 Adjustments to consideration transferred: Cash acquired (3,711 ) Working capital 418 Debt eliminated in consolidation 2,000 Adjusted consideration transferred 2,707 Assets acquired: Working capital (primarily AR and inventory) 1,551 Fixed assets and Other long term assets 70 Other liabilities (203 ) Non-controlling interest (4,050 ) Net assets acquired $ (2,632 ) Goodwill $ 5,339

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventories [Abstract]
Impact of Change in Method of Accounting for Inventory on Financial Statements	The Company applied this change retrospectively to all prior periods presented. This change resulted in a $4.5 million increase in Accumulated earnings as of December 31, 2020, from $12.1 million to $16.6 million and a $4.3 million decrease in Accumulated deficit as of December 31, 2019, from $15.3 million to $11.0 million. In addition, the following financial statement line items in the Company’s Consolidated Balance Sheets as of December 31, 2020 and its Consolidated Statements of Income and Consolidated Statements of Cash Flows for the three months ended March 31, 2020 were adjusted as follows: Consolidated Statement of Income For the three months ended March 31, 2020 As Originally Reported Effect of Change (a) As Adjusted Cost of sales $ 49,258 $ - $ 49,258 Income before income taxes $ 4,221 $ - $ 4,221 Income tax expense $ 946 $ - $ 946 Net income attributable to Turning Point Brands, Inc. $ 3,275 $ - $ 3,275 Earnings per common share: Basic $ 0.17 $ - $ 0.17 Diluted $ 0.16 $ - $ 0.16 Consolidated Balance Sheets December 31, 2020 As Originally Reported Effect of Change As Adjusted Inventories $ 79,750 $ 6,106 $ 85,856 Deferered income taxes $ 4,082 $ 1,584 $ 5,666 Accumulated earnings (deficit) $ 12,058 $ 4,522 $ 16,580 Consolidated Statement of Cash Flows For the three months ended March 31, 2020 As Originally Reported Effect of Change (a) As Adjusted Consolidated net income $ 3,275 $ - $ 3,275 Deferred income taxes $ 545 $ - $ 545 Inventories $ 1,784 $ - $ 1,784 (a) There was no LIFO impact for the three months ended March 31, 2020.
Inventories	The components of inventories are as follows: March 31, 2021 December 31, 2020 Raw materials and work in process $ 7,519 $ 8,137 Leaf tobacco 41,707 32,948 Finished goods - Zig-Zag Products 21,477 14,903 Finished goods - Stoker’s Products 9,777 9,727 Finished goods - NewGen products 16,668 18,916 Other 1,203 1,225 Inventory $ 98,351 $ 85,856

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Other Current Assets [Abstract]
Other Current Assets	Other current assets consist of: March 31, 2021 December 31, 2020 Inventory deposits $ 7,369 $ 7,113 Insurance deposit 3,000 3,000 Prepaid taxes 526 813 Other 13,971 15,525 Total $ 24,866 $ 26,451

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant, and Equipment [Abstract]
Property, Plant, and Equipment	Property, plant, and equipment consists of: March 31, 2021 December 31, 2020 Land $ 22 $ 22 Buildings and improvements 2,750 2,750 Leasehold improvements 4,702 4,702 Machinery and equipment 16,499 15,612 Furniture and fixtures 9,025 9,025 Gross property, plant and equipment 32,998 32,111 Accumulated depreciation (17,350 ) (16,587 ) Net property, plant and equipment $ 15,648 $ 15,524

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Other Assets [Abstract]
Other Assets	Other assets consist of: March 31, 2021 December 31, 2020 Equity investments $ 24,016 $ 24,018 Other 2,357 2,818 Total $ 26,373 $ 26,836

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued liabilities consist of: March 31, 2021 December 31, 2020 Accrued payroll and related items $ 3,664 $ 9,459 Customer returns and allowances 5,683 5,259 Taxes payable 7,025 4,326 Lease liabilities 3,269 3,228 Accrued interest 2,924 2,096 Other 9,280 10,857 Total $ 31,845 $ 35,225

Notes Payable and Long-Term D_2

Notes Payable and Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Notes payable and long-term debt consists of the following in order of preference: March 31, 2021 December 31, 2020 Senior Secured Notes $ 250,000 $ - 2018 First Lien Term Loan - 130,000 Convertible Senior Notes 172,500 172,500 Note payable - Promissory Note 10,000 10,000 Note payable - Unsecured Loan 7,485 7,485 Gross notes payable and long-term debt 439,985 319,985 Less deferred finance charges (10,183 ) (5,873 ) Less current maturities (5,000 ) (12,000 ) Notes payable and long-term debt $ 424,802 $ 302,112

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Components of Lease Expense	The components of lease expense consisted of the following: Three Months Ended March 31, 2021 2020 Operating lease cost Cost of sales $ 225 $ 233 Selling, general and administrative 752 398 Variable lease cost (1) 205 312 Short-term lease cost 11 83 Sublease income (30 ) (30 ) Total $ 1,163 $ 996 (1) Variable lease cost 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, 2021 December 31, 2020 Assets: Right of use assets $ 17,406 $ 17,918 Total lease assets $ 17,406 $ 17,918 Liabilities: Current lease liabilities $ 3,269 $ 3,228 Long-term lease liabilities 15,570 16,117 Total lease liabilities $ 18,839 $ 19,345 (2) Reported within accrued liabilities on the balance sheet
Operating Lease Weighted-Average Remaining Lease Term and Discount Rate	As of March 31, 2021 2020 Weighted-average remaining lease term - operating leases 7.1 years 7.8 years Weighted-average discount rate - operating leases 4.93 % 5.84 %
Maturities of Lease Liabilities	As of March 31, 2021, maturities of lease liabilities consisted of the following: March 31, 2021 2021 $ 3,078 2022 3,795 2023 3,528 2024 2,485 2025 2,125 Years thereafter 7,427 Total lease payments $ 22,438 Less: Imputed interest 3,599 Present value of lease liabilities $ 18,839

Pension and Postretirement Be_2

Pension and Postretirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2021
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 2021 2020 2021 2020 Service cost $ - $ - $ - $ - Interest cost - 95 - - Expected return on plan assets - (161 ) - - Amortization of (gains) losses - 36 - (57 ) Net periodic benefit income $ - $ (30 ) $ - $ (57 )

Share Incentive Plans (Tables)

Share Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Share Incentive Plans [Abstract]
Stock Option Activity	Stock Option Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Outstanding, December 31, 2019 696,716 $ 18.13 $ 6.17 Granted 155,000 14.85 4.41 Exercised (135,146 ) 6.37 2.74 Forfeited (5,510 ) 27.25 8.64 Outstanding, December 31, 2020 711,060 19.58 6.42 Granted 100,000 51.75 13.77 Exercised (74,615 ) 5.70 2.66 Forfeited (850 ) 21.63 6.15 Outstanding, March 31 2021 735,595 $ 25.36 $ 7.80
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 October 24, 2019 March 18, 2020 February 18, 2021 Number of options granted 40,000 93,819 98,100 26,000 155,780 25,000 155,000 100,000 Options outstanding at March 31 2021 27,050 54,183 77,967 26,000 144,134 25,000 147,799 99,850 Number exercisable at March 31 2021 27,050 54,183 77,967 26,000 96,076 16,750 47,413 - Exercise price $ 13.00 $ 15.41 $ 21.21 $ 21.49 $ 47.58 $ 20.89 $ 14.85 $ 51.75 Remaining lives 5.87 6.13 6.94 6.96 7.98 8.57 8.97 9.89 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.62 % 2.34 % 1.58 % 0.79 % 0.56 % Expected volatility 27.44 % 26.92 % 28.76 % 28.76 % 30.95 % 31.93 % 35.72 % 28.69 % Expected life 6.000 6.000 6.000 5.495 6.000 6.000 6.000 6.000 Dividend yield - - 0.83 % 0.82 % 0.42 % 0.95 % 1.49 % 0.55 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 6.18 $ 15.63 $ 6.27 $ 4.41 $ 13.77
PRSU Activity	PRSUs are restricted stock units subject to both performance-based and service-based vesting conditions. The number of shares of TPB Common Stock 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 period. PRSUs will vest on the measurement date, which is no more than days after the performance period provided the applicable service and performance conditions are satisfied. As of March 31, 2021 there are PRSUs outstanding, all of which are unvested. The following table outlines the PRSUs granted and outstanding as of March 31, 2021 March 31, 2017 March 7, 2018 March 20, 2019 March 20, 2019 July 19, 2019 March 18, 2020 December 28, 2020 February 18, 2021 Number of PRSUs granted 94,000 96,000 92,500 4,901 88,582 94,000 88,169 100,000 PRSUs outstanding at March 31 2021 83,000 93,000 85,250 - 21,342 93,350 88,169 99,800 Fair value as of grant date $ 15.60 $ 21.21 $ 47.58 $ 47.58 $ 52.15 $ 14.85 $ 46.42 $ 51.75 Remaining lives 0.75 1.75 2.75 - 1.75 3.75 2.75 4.75

Income Per Share (Tables)

Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 2020 Income Shares Per Share Income Shares Per Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 11,783 $ 4,499 Denominator Weighted average 19,093,961 $ 0.62 19,689,446 $ 0.23 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 11,783 $ 4,499 Interest expense related to Convertible Senior Notes, net of tax 1,054 - Diluted net income attributable to Turning Point Brands. Inc. $ 12,837 $ 4,499 Denominator Basic weighted average 19,093,961 19,689,446 Convertible Senior Notes 3,205,895 - Stock options 365,211 417,354 22,665,067 $ 0.57 20,106,800 $ 0.22

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Information [Abstract]
Financial Information of Reported Segments	The tables below present financial information about reported segments: Three Months Ended March 31, 2021 2020 Net sales Zig-Zag products $ 41,004 $ 28,914 Stoker’s products 29,255 26,495 NewGen products 37,382 35,280 Total $ 107,641 $ 90,689 Gross profit Zig-Zag products $ 24,896 $ 16,132 Stoker’s products 15,892 13,874 NewGen products 12,473 11,425 Total $ 53,261 $ 41,431 Operating income (loss) Zig-Zag products $ 19,437 $ 12,417 Stoker’s products 12,255 9,746 NewGen products 2,006 477 Corporate unallocated (1)(2) (9,349 ) (13,603 ) Total $ 24,349 $ 9,037 Interest expense, net 4,486 3,309 Investment income (25 ) (91 ) Loss on extinguishment of debt 5,706 - Net periodic income, excluding service cost - (87 ) Income before income taxes $ 14,182 $ 5,906 Capital expenditures Zig-Zag products $ - $ - Stoker’s products 840 860 NewGen products 2 17 Total $ 842 $ 877 Depreciation and amortization Zig-Zag products $ 114 $ - Stoker’s products 635 519 NewGen products 516 757 Total $ 1,265 $ 1,276 (1) Includes corporate costs that are not allocated to any of the reportable segments. (2) Includes costs related to PMTA of $5.9 million in 2020. March 31, 2021 December 31, 2020 Assets Zig-Zag products $ 212,400 $ 206,900 Stoker’s products 148,093 133,016 NewGen products 91,616 91,116 Corporate unallocated (1) 175,196 65,017 Total $ 627,305 $ 496,049 (1) Includes assets not assigned to the reportable segments. All goodwill has been allocated to the reportable segments.
Revenue Disaggregation - Sales Channel	Revenues of the Zig-Zag Products and Stoker’s Products segments are primarily comprised of sales made to wholesalers while NewGen sales are made business to business and business to consumer, both online and through our corporate retail stores. NewGen net sales are broken out by sales channel below. NewGen Segment Three Months Ended March 31, 2021 2020 Business to Business $ 27,257 $ 25,278 Business to Consumer - Online 10,033 8,134 Business to Consumer - Corporate store - 1,794 Other 92 74 Total $ 37,382 $ 35,280
Net Sales - Domestic and Foreign	The following table shows a breakdown of consolidated net sales between domestic and foreign customers. Three Months Ended March 31, 2021 2020 Domestic $ 100,127 $ 87,568 Foreign 7,514 3,121 Total $ 107,641 $ 90,689

Description of Business and B_3

Description of Business and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2021SegmentOutlet
Description of Business and Basis of Presentation [Abstract]
Number of reportable segments | Segment	3
Number of retail outlets in North America | Outlet	210,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies, Shipping Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Shipping Costs [Abstract]
Shipping costs	$ 5.9	$ 5.3

Summary of Significant Accoun_5

Summary of Significant Accounting Policies, Derivative Instruments (Details) - Maximum [Member]	3 Months Ended
	Mar. 31, 2021
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, 2021	Dec. 31, 2020
Master Settlement Agreement [Abstract]
Term for restricted withdrawal of principal from MSA escrow account	25 years
Fair Value of MSA Escrow Account [Abstract]
Cost	$ 32,074	$ 32,074
Gross unrealized gains	0
Gross unrealized losses	(597)
Estimated fair value	31,477	32,074
Maturities of U.S. Governmental Agency Obligations [Abstract]
Less than one year	0
One to five years	0
Five to ten years	12,984
Greater than ten years	1,949
Total	14,933
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	4,553	4,553
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	32,074	32,074
Cash and Cash Equivalents [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	17,141	32,074
Gross unrealized gains	0
Gross unrealized losses	0
Estimated fair value	17,141	32,074
U. S. Governmental Agency Obligations (Unrealized Loss Position less than 12 Months) [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	14,933	0
Gross unrealized gains	0
Gross unrealized losses	(597)
Estimated fair value	$ 14,336	$ 0

Summary of Significant Accoun_7

Summary of Significant Accounting Policies, Food and Drug Administration (Details)	3 Months Ended
	Mar. 31, 2021ClassPathwayCategory
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 | Class	6
Number of pathways for obtaining premarket authorization | Pathway	3

Summary of Significant Accoun_8

Summary of Significant Accounting Policies, Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Recent Accounting Pronouncements [Abstract]
Accumulated earnings	$ 34,357			$ 23,645
Notes payable and long-term debt	424,802			302,112
Deferred income taxes	0			610
Additional paid-in capital	102,879			102,423
Interest expense	$ (4,486)	$ (3,309)
Weighted average diluted common shares (in shares)	22,665,067	20,106,800
ASU 2020-06 [Member] | Accounting Standards Update, Adjustment [Member]
Recent Accounting Pronouncements [Abstract]
Accumulated earnings				7,100	$ (2,200)
Notes payable and long-term debt				24,200
Deferred income taxes				(6,300)
Additional paid-in capital				$ (24,900)
Weighted average diluted common shares (in shares)	3,200,000
ASU 2020-06 [Member] | Accounting Standards Update, Adjustment [Member] | Forecast [Member]
Recent Accounting Pronouncements [Abstract]
Interest expense			$ (6,700)

Acquisitions, ReCreation Market

Acquisitions, ReCreation Marketing (Details) - USD ($) $ in Thousands	1 Months Ended
	Nov. 30, 2020	Jul. 31, 2019	Mar. 31, 2021	Dec. 31, 2020
Assets Acquired [Abstract]
Goodwill			$ 159,808	$ 159,621
30% Investment in ReCreation Marketing [Member]
Acquisitions [Abstract]
Ownership interest		30.00%
Payment for investment	$ 1,000
50% Investment in ReCreation Marketing [Member]
Acquisitions [Abstract]
Ownership interest	50.00%
Payment for investment	$ 2,000
ReCreation Marketing [Member]
Acquisitions [Abstract]
Payment for investment		$ 1,000
Unsecured loan	$ 2,000
Interest rate	8.00%
Purchase Price [Abstract]
Total consideration transferred	$ 4,000
Adjustments to Consideration Transferred [Abstract]
Cash acquired	(3,711)
Working capital	418
Debt eliminated in consolidation	2,000
Adjusted consideration transferred	2,707
Assets Acquired [Abstract]
Working capital (primarily AR and inventory)	1,551
Fixed assets and other long term assets	70
Other liabilities	(203)
Non-controlling interest	(4,050)
Net assets acquired	(2,632)
Goodwill	$ 5,339

Acquisitions, SDI Reorganizatio

Acquisitions, SDI Reorganization (Details) $ in Millions	Jul. 16, 2020USD ($)shares
Acquisitions [Abstract]
Common Stock conversation ratio	0.52095
Total consideration for asset purchase	$ 236
Common Stock issued (in shares) | shares	7,934,704
Common Stock issued	$ 234.3
Common Stock acquired	$ 236
Common Stock acquired (in shares) | shares	8,178,918
Common Stock retired (in shares) | shares	244,214
Accumulated Earnings (Deficit) [Member]
Acquisitions [Abstract]
Common Stock retired	$ 1.7

Acquisitions, Durfort Holdings

Acquisitions, Durfort Holdings (Details) - Durfort [Member] - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2021
Acquisitions [Abstract]
Total consideration transferred	$ 47.7
Cash paid for acquisition	37.7
Capitalized transaction costs	1.7
Issuance of promissory note	10
Master Distribution Agreement [Member]
Acquisitions [Abstract]
Finite-lived intangible asset acquired	5.5
Finite-lived intangible asset acquired, life		15 years
Intellectual Property [Member]
Acquisitions [Abstract]
Indefinite-lived intangible asset acquired	$ 42.2

Derivative Instruments (Details

Derivative Instruments (Details) $ in Thousands, € in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Mar. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Mar. 31, 2018USD ($)
Derivative Instruments [Abstract]
Settlement of interest rate swaps	$ 3,573	$ 0
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 Currency [Member]
Derivative Instruments [Abstract]
Fair value, asset					$ 400
Fair value, liability					0
Foreign Currency [Member] | Other Current Assets [Member]
Derivative Instruments [Abstract]
Fair value, asset	$ 100				400
Foreign Currency [Member] | Accrued Liabilities [Member]
Derivative Instruments [Abstract]
Fair value, liability	0				0
Foreign Currency [Member] | Purchase [Member]
Derivative Instruments [Abstract]
Notional amount of contracts executed | €			€ 19.7
Notional amount | €				€ 13.1		€ 18
Foreign Currency [Member] | Sale [Member]
Derivative Instruments [Abstract]
Notional amount of contracts executed | €			€ 21.4
Notional amount | €				€ 14.3		€ 19.6
Interest Rate Swaps [Member]
Derivative Instruments [Abstract]
Notional amount					70,000		$ 70,000
Settlement of interest rate swaps	$ 3,600
Interest Rate Swaps [Member] | Interest Expense [Member]
Derivative Instruments [Abstract]
Loss reclassified into interest expense		$ 200
Interest Rate Swaps [Member] | LIBOR [Member]
Derivative Instruments [Abstract]
Interest rate percentage	2.755%			2.755%
Interest Rate Swaps [Member] | Other Long-Term Liabilities [Member]
Derivative Instruments [Abstract]
Fair value, liability					$ 3,700

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Thousands, € in Millions	Mar. 31, 2021EUR (€)	Mar. 31, 2021USD ($)	Feb. 11, 2021USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2020USD ($)	Jun. 10, 2020USD ($)	Apr. 17, 2020USD ($)	Jul. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 07, 2018USD ($)
Fair Value of Financial Instruments [Abstract]
Note payable		$ 439,985			$ 319,985
Foreign Exchange [Member]
Fair Value of Financial Instruments [Abstract]
Fair value, asset					400
Fair value, liability					0
Foreign Exchange [Member] | Purchase [Member]
Fair Value of Financial Instruments [Abstract]
Notional amount | €	€ 13.1			€ 18
Foreign Exchange [Member] | Sale [Member]
Fair Value of Financial Instruments [Abstract]
Notional amount | €	€ 14.3			€ 19.6
Interest Rate Swaps [Member]
Fair Value of Financial Instruments [Abstract]
Notional amount					70,000				$ 70,000
Senior Secured Notes [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	5.625%	5.625%
Face amount		$ 250,000	$ 250,000
Note payable		250,000			0
2018 First Lien Term Loan [Member]
Fair Value of Financial Instruments [Abstract]
Face amount										$ 160,000
Note payable		$ 0			130,000
Convertible Senior Notes [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	2.50%	2.50%
Face amount								$ 172,500
Note payable		$ 172,500			172,500
Promissory Note [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	7.50%	7.50%
Face amount						$ 10,000
Note payable		$ 10,000			10,000
Unsecured Loan [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	1.00%	1.00%
Face amount							$ 7,500
Note payable		$ 7,485			7,485
Level 2 [Member] | Foreign Exchange [Member]
Fair Value of Financial Instruments [Abstract]
Fair value, asset		100
Fair value, liability		0
Level 2 [Member] | Interest Rate Swaps [Member]
Fair Value of Financial Instruments [Abstract]
Fair value, liability					3,700
Fair Value [Member] | 2018 First Lien Term Loan [Member]
Fair Value of Financial Instruments [Abstract]
Long-term debt					130,000
Fair Value [Member] | Convertible Senior Notes [Member]
Fair Value of Financial Instruments [Abstract]
Long-term debt		$ 156,400			$ 155,300

Inventories, Change in Method o

Inventories, Change in Method of Accounting for Inventory (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Inventories [Abstract]
Percentage of LIFO inventory				45.10%
Consolidated Statement of Income [Abstract]
Cost of sales		$ 54,380	$ 49,258
Income before income taxes		14,182	5,906
Income tax expense		2,654	1,407
Net income attributable to Turning Point Brands, Inc.		$ 11,783	$ 4,499
Earnings per common share [Abstract]
Basic (in dollars per share)		$ 0.62	$ 0.23
Diluted (in dollars per share)		$ 0.57	$ 0.22
Consolidated Balance Sheets [Abstract]
Inventories		$ 98,351		$ 85,856
Deferred income taxes		735		0
Accumulated earnings (deficit)		34,357		23,645
Consolidated Statement of Cash Flows [Abstract]
Consolidated net income		11,783	$ 4,499
Deferred income taxes		552	1,006
Inventories		$ (12,461)	1,784
Change in Method of Accounting for Inventory from LIFO to FIFO [Member]
Consolidated Statement of Income [Abstract]
Cost of sales			49,258
Income before income taxes			4,221
Income tax expense			946
Net income attributable to Turning Point Brands, Inc.			$ 3,275
Earnings per common share [Abstract]
Basic (in dollars per share)			$ 0.17
Diluted (in dollars per share)			$ 0.16
Consolidated Balance Sheets [Abstract]
Inventories				85,856
Deferred income taxes				5,666
Accumulated earnings (deficit)				16,580	$ 11,000
Consolidated Statement of Cash Flows [Abstract]
Consolidated net income			$ 3,275
Deferred income taxes			545
Inventories			1,784
As Originally Reported [Member]
Consolidated Statement of Income [Abstract]
Cost of sales			49,258
Income before income taxes			4,221
Income tax expense			946
Net income attributable to Turning Point Brands, Inc.			$ 3,275
Earnings per common share [Abstract]
Basic (in dollars per share)			$ 0.17
Diluted (in dollars per share)			$ 0.16
Consolidated Balance Sheets [Abstract]
Inventories				79,750
Deferred income taxes				4,082
Accumulated earnings (deficit)				12,058	15,300
Consolidated Statement of Cash Flows [Abstract]
Consolidated net income			$ 3,275
Deferred income taxes			545
Inventories			1,784
Effect of Change [Member] | Change in Method of Accounting for Inventory from LIFO to FIFO [Member]
Consolidated Statement of Income [Abstract]
Cost of sales	[1]		0
Income before income taxes	[1]		0
Income tax expense	[1]		0
Net income attributable to Turning Point Brands, Inc.	[1]		$ 0
Earnings per common share [Abstract]
Basic (in dollars per share)	[1]		$ 0
Diluted (in dollars per share)	[1]		$ 0
Consolidated Balance Sheets [Abstract]
Inventories				6,106
Deferred income taxes				1,584
Accumulated earnings (deficit)				$ 4,522	$ (4,300)
Consolidated Statement of Cash Flows [Abstract]
Consolidated net income	[1]		$ 0
Deferred income taxes	[1]		0
Inventories	[1]		$ 0
[1]	There was no LIFO impact for the three months ended March 31, 2020.

Inventories, Components of Inve

Inventories, Components of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Inventories [Abstract]
Raw materials and work in process	$ 7,519	$ 8,137
Leaf tobacco	41,707	32,948
Other	1,203	1,225
Inventory	98,351	85,856
Inventory valuation allowance	9,600	9,900
Zig-Zag Products [Member]
Inventories [Abstract]
Finished goods	21,477	14,903
Stoker's Products [Member]
Inventories [Abstract]
Finished goods	9,777	9,727
NewGen Products [Member]
Inventories [Abstract]
Finished goods	$ 16,668	$ 18,916

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Current Assets [Abstract]
Inventory deposits	$ 7,369	$ 7,113
Insurance deposit	3,000	3,000
Prepaid taxes	526	813
Other	13,971	15,525
Total	$ 24,866	$ 26,451

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	$ 32,998	$ 32,111
Accumulated depreciation	(17,350)	(16,587)
Net property, plant and equipment	15,648	15,524
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	2,750	2,750
Leasehold Improvements [Member]
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	4,702	4,702
Machinery and Equipment [Member]
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	16,499	15,612
Furniture and Fixtures [Member]
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	$ 9,025	$ 9,025

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Assets [Abstract]
Equity investments	$ 24,016	$ 24,018
Other	2,357	2,818
Total	$ 26,373	$ 26,836

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Accrued Liabilities [Abstract]
Accrued payroll and related items		$ 3,664	$ 9,459
Customer returns and allowances		5,683	5,259
Taxes payable		7,025	4,326
Lease liabilities	[1]	3,269	3,228
Accrued interest		2,924	2,096
Other		9,280	10,857
Total		$ 31,845	$ 35,225
[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, 2021	Dec. 31, 2020
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	$ 439,985	$ 319,985
Less deferred finance charges	(10,183)	(5,873)
Less current maturities	(5,000)	(12,000)
Net notes payable and long-term debt	424,802	302,112
Senior Secured Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	250,000	0
2018 First Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	0	130,000
Convertible Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	172,500	172,500
Promissory Note [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	10,000	10,000
Unsecured Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	$ 7,485	$ 7,485

Notes Payable and Long-Term D_4

Notes Payable and Long-Term Debt, Senior Secured Notes (Details) - Senior Secured Notes [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Feb. 11, 2021
Notes Payable and Long-Term Debt [Abstract]
Face amount	$ 250	$ 250
Interest rate	5.625%
Maturity date	Feb. 15, 2026
Guarantee threshold amount for obligations	$ 15
Redemption price as a percentage of principal amount for principal redeemed	100.00%
Percentage of principal amount that can be redeemed with net cash proceeds from certain equity offerings	40.00%
Redemption price as a percentage of principal amount for principal amount that can be redeemed with net cash proceeds from certain equity offerings	105.625%
Percentage of principal amount that must remain outstanding in order to redeem 40% of principal amount with net cash proceeds from certain equity offerings	50.00%
Period in which 10% of principal amount can be redeemed once	12 months
Percentage of principal amount that can be redeemed once in any twelve-month period	10.00%
Redemption price as a percentage of principal amount for principal amount that can be redeemed once in any twelve-month period	103.00%
Redemption price as a percentage of principal amount for principal amount that can be redeemed if the Company experiences a change in control	101.00%
Debt issuance costs		$ 6.4

Notes Payable and Long-Term D_5

Notes Payable and Long-Term Debt, 2021 Revolving Credit Facility (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2023	Feb. 11, 2021USD ($)
2021 Revolving Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity			$ 25
Amount drawn under credit facility	$ 0
Letters of credit outstanding	$ 3.6
Maturity date	Aug. 11, 2025
Period prior to maturity date of Convertible Senior Notes	91 days
Consolidated Leverage Ratio	5.50
Exclusion threshold for letters of credit	$ 5
Threshold percentage of total commitments outstanding	35.00%
Debt issuance costs	$ 0.5
2021 Revolving Credit Facility [Member] | Plan [Member]
Notes Payable and Long-Term Debt [Abstract]
Consolidated Leverage Ratio		5.25
2021 Revolving Credit Facility [Member] | Eurodollar [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	3.50%
Letters of Credit [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity			$ 10

Notes Payable and Long-Term D_6

Notes Payable and Long-Term Debt, 2018 Credit Facility (Details) $ in Millions	Mar. 07, 2018USD ($)
2018 Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Secured credit facility	$ 250
Additional borrowing capacity under accordion feature	40
2018 First Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount	160
2018 Revolving Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity	50
2018 Second Lien Term Loan [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount	$ 40

Notes Payable and Long-Term D_7

Notes Payable and Long-Term Debt, 2018 First Lien Credit Facility (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Notes Payable and Long-Term Debt [Abstract]
Financing costs of amending facility	$ 6,614	$ 168
Loss on extinguishment of debt	$ (5,706)	0
2018 First Lien Credit Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Maturity date	Mar. 7, 2023
Financing costs of amending facility	$ 700
Payment of term loan	130,000
Loss on extinguishment of debt	$ (5,700)
2018 First Lien Credit Facility [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Senior leverage ratio	2.50
Total leverage ratio	5
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
Total leverage ratio	5.50
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
Financing costs of amending facility	$ 200
Payment of term loan	130,000	$ 2,000
2018 First Lien Term Loan [Member] | June 30, 2018 through March 31, 2020 [Member]
Notes Payable and Long-Term Debt [Abstract]
Required payment	2,000
2018 First Lien Term Loan [Member] | June 30, 2020 through March 31, 2022 [Member]
Notes Payable and Long-Term Debt [Abstract]
Required payment	3,000
2018 First Lien Term Loan [Member] | June 30, 2022 and after [Member]
Notes Payable and Long-Term Debt [Abstract]
Required payment	$ 4,000
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%
Convertible Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Maturity date	Jul. 15, 2024
Maximum notes to be issued	$ 200,000

Notes Payable and Long-Term D_8

Notes Payable and Long-Term Debt, Convertible Senior Notes (Details)	1 Months Ended	3 Months Ended
	Jul. 31, 2019USD ($)	Mar. 31, 2021USD ($)shares$ / shares
Notes Payable and Long-Term Debt [Abstract]
Strike price (in dollars per share) | $ / shares		53.81
Cap price (in dollars per share) | $ / shares		82.86
Payment for cost of capped call transactions | $	$ 20,530,000
Convertible Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount | $	172,500,000
Interest rate		2.50%
Maturity date		Jul. 15, 2024
Shares issued upon conversion (in shares) | shares		3,205,895
Conversion rate		18.585
Principal amount of notes to be converted | $		$ 1,000
Conversion price (in dollars per share) | $ / shares		$ 53.81
Pre-determined threshold value for adjusting conversion price as a result of dividends paid (in dollars per share) | $ / shares		$ 0.04
Debt issuance costs | $	$ 5,900,000

Notes Payable and Long-Term D_9

Notes Payable and Long-Term Debt, Promissory Note (Details) - Promissory Note [Member] $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)Intallment	Jun. 10, 2020USD ($)
Notes Payable and Long-Term Debt [Abstract]
Face amount		$ 10
Interest rate	7.50%
Number of installment payments | Intallment	2
Required payment	$ 5
Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Term of note	18 months
Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Term of note	36 months

Notes Payable and Long-Term _10

Notes Payable and Long-Term Debt, Unsecured Loan (Details) - Unsecured Loan [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Apr. 17, 2020
Notes Payable and Long-Term Debt [Abstract]
Face amount		$ 7.5
Maturity date	Apr. 17, 2022
Interest rate	1.00%

Notes Payable and Long-Term _11

Notes Payable and Long-Term Debt, Note Payable - IVG (Details) - Note Payable - IVG [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2018
Notes Payable and Long-Term Debt [Abstract]
Face amount			$ 4,000
Interest rate			6.00%
Maturity date	Mar. 5, 2020
Payment of note	$ 0	$ 4,240

Leases (Details)

Leases (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Components of Lease Expense [Abstract]
Variable lease cost	[1]	$ 205	$ 312
Short-term lease cost		11	83
Sublease income		(30)	(30)
Total operating lease cost		1,163	$ 996
Assets [Abstract]
Right of use assets		17,406		$ 17,918
Liabilities [Abstract]
Current lease liabilities	[2]	$ 3,269		$ 3,228
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accrued Liabilities, Current		Accrued Liabilities, Current
Long-term lease liabilities		$ 15,570		$ 16,117
Total lease liabilities		$ 18,839		19,345
Weighted-Average Remaining Lease Term and Discount Rate [Abstract]
Weighted-average remaining lease term - operating leases		7 years 1 month 6 days	7 years 9 months 18 days
Weighted-average discount rate - operating leases		4.93%	5.84%
Maturities of Lease Liabilities [Abstract]
2021		$ 3,078
2022		3,795
2023		3,528
2024		2,485
2025		2,125
Years thereafter		7,427
Total lease payments		22,438
Less: Imputed interest		3,599
Total lease liabilities		18,839		$ 19,345
Cost of Sales [Member]
Components of Lease Expense [Abstract]
Operating lease cost		225	$ 233
Selling, General and Administrative [Member]
Components of Lease Expense [Abstract]
Operating lease cost		$ 752	$ 398
[1]	Variable lease cost 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, 2021	Mar. 31, 2020
Income Taxes [Abstract]
Effective income tax rate	18.70%	23.80%
Income tax deduction related to exercise of stock options	$ 3.3	$ 0.7

Pension and Postretirement Be_3

Pension and Postretirement Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Pension Benefits [Member]
Plan Contributions [Abstract]
Contributions made by employer			$ 0
Net Periodic Benefit Cost [Abstract]
Service cost	$ 0	$ 0
Interest cost	0	95
Expected return on plan assets	0	(161)
Amortization of (gains) losses	0	36
Net periodic benefit income	0	(30)
Postretirement Benefits [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	0	0
Interest cost	0	0
Expected return on plan assets	0	0
Amortization of (gains) losses	0	(57)
Net periodic benefit income	$ 0	$ (57)

Share Incentive Plans, Equity I

Share Incentive Plans, Equity Incentive Plans (Details) - shares	Mar. 31, 2021	Mar. 22, 2021	Apr. 28, 2016
2021 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)		1,290,000
Number of awards granted (in shares)	0
Number of shares available for grant (in shares)	1,290,000
2015 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)			1,400,000
Number of shares available for grant (in shares)	112,052
2015 Plan [Member] | Restricted Stock [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	16,159
2015 Plan [Member] | Performance-Based Restricted Stock Units [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	563,911
2015 Plan [Member] | Stock Options [Member]
Share Incentive Plans [Abstract]
Number of awards granted (in shares)	707,878
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, 2021	Mar. 31, 2020	Dec. 31, 2020
Stock Option Shares [Roll Forward]
Outstanding, beginning balance (in shares)	711,060	696,716	696,716
Granted (in shares)	100,000		155,000
Exercised (in shares)	(74,615)		(135,146)
Forfeited (in shares)	(850)		(5,510)
Outstanding, ending balance (in shares)	735,595		711,060
Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 19.58	$ 18.13	$ 18.13
Granted (in dollars per share)	51.75		14.85
Exercised (in dollars per share)	5.70		6.37
Forfeited (in dollars per share)	21.63		27.25
Outstanding, ending balance (in dollars per share)	25.36		19.58
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)	6.42	$ 6.17	6.17
Granted (in dollars per share)	13.77		4.41
Exercised (in dollars per share)	2.66		2.74
Forfeited (in dollars per share)	6.15		8.64
Outstanding, ending balance (in dollars per share)	$ 7.80		$ 6.42
Intrinsic value of options exercised	$ 3.3	$ 0.9

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, 2021$ / sharesshares
Share Incentive Plans [Abstract]
Expected life	10 years
Exercise Price $3.83 [Member]
Share Incentive Plans [Abstract]
Number of options (in shares) | shares	133,612
Exercise price (in dollars per share)	$ 3.83
Number of options exercisable (in shares) | shares	133,612
Remaining lives	2 years 10 months 20 days
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	Feb. 18, 2021	Mar. 18, 2020	Oct. 24, 2019	Mar. 20, 2019	Mar. 13, 2018	Mar. 07, 2018	May 17, 2017	Feb. 10, 2017	Mar. 31, 2021
February 10, 2017 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)								40,000
Options outstanding (in shares)									27,050
Number exercisable (in shares)									27,050
Exercise price (in dollars per share)									$ 13
Remaining lives									5 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)									54,183
Number exercisable (in shares)									54,183
Exercise price (in dollars per share)									$ 15.41
Remaining lives									6 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)									77,967
Number exercisable (in shares)									77,967
Exercise price (in dollars per share)									$ 21.21
Remaining lives									6 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)									26,000
Exercise price (in dollars per share)									$ 21.49
Remaining lives									6 years 11 months 15 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)									144,134
Number exercisable (in shares)									96,076
Exercise price (in dollars per share)									$ 47.58
Remaining lives									7 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
October 24, 2019 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)			25,000
Options outstanding (in shares)									25,000
Number exercisable (in shares)									16,750
Exercise price (in dollars per share)									$ 20.89
Remaining lives									8 years 6 months 25 days
Risk free interest rate									1.58%
Expected volatility									31.93%
Expected life									6 years
Dividend yield									0.95%
Fair value at grant date (in dollars per share)									$ 6.27
March 18, 2020 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)		155,000
Options outstanding (in shares)									147,799
Number exercisable (in shares)									47,413
Exercise price (in dollars per share)									$ 14.85
Remaining lives									8 years 11 months 19 days
Risk free interest rate									0.79%
Expected volatility									35.72%
Expected life									6 years
Dividend yield									1.49%
Fair value at grant date (in dollars per share)									$ 4.41
February 18, 2021 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)	100,000
Options outstanding (in shares)									99,850
Number exercisable (in shares)									0
Exercise price (in dollars per share)									$ 51.75
Remaining lives									9 years 10 months 20 days
Risk free interest rate									0.56%
Expected volatility									28.69%
Expected life									6 years
Dividend yield									0.55%
Fair value at grant date (in dollars per share)									$ 13.77

Share Incentive Plans, Compensa

Share Incentive Plans, Compensation Expense Related to Options (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Compensation Expense [Abstract]
Compensation expense related to options	$ 0.3	$ 0.2
Unrecognized compensation expense related to options	$ 1.7
Period over which unrecognized compensation expense will be expensed	2 years 4 months 9 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	Feb. 18, 2021	Dec. 28, 2020	Mar. 18, 2020	Jul. 19, 2019	Mar. 20, 2019	Mar. 07, 2018	Mar. 31, 2017	Mar. 31, 2021	Mar. 31, 2020
Share Incentive Plans [Abstract]
Period between performance period and measurement date								65 days
PRSUs outstanding at March 31, 2021 (in shares)								563,911
Compensation expense								$ 1.2	$ 0.2
Unrecognized compensation expense								$ 12.6
Employees [Member]
Share Incentive Plans [Abstract]
Performance period								5 years
March 31, 2017 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)							94,000
PRSUs outstanding at March 31, 2021 (in shares)								83,000
Fair value as of grant date (in dollars per share)							$ 15.60
Remaining lives								9 months
March 7, 2018 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)						96,000
PRSUs outstanding at March 31, 2021 (in shares)								93,000
Fair value as of grant date (in dollars per share)						$ 21.21
Remaining lives								1 year 9 months
March 20, 2019 [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)					4,901
PRSUs outstanding at March 31, 2021 (in shares)								0
Fair value as of grant date (in dollars per share)					$ 47.58
March 20, 2019 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)					92,500
PRSUs outstanding at March 31, 2021 (in shares)								85,250
Fair value as of grant date (in dollars per share)					$ 47.58
Remaining lives								2 years 9 months
July 19, 2019 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)				88,582
PRSUs outstanding at March 31, 2021 (in shares)								21,342
Fair value as of grant date (in dollars per share)				$ 52.15
Remaining lives								1 year 9 months
March 18, 2020 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)			94,000
PRSUs outstanding at March 31, 2021 (in shares)								93,350
Fair value as of grant date (in dollars per share)			$ 14.85
Remaining lives								3 years 9 months
December 28, 2020 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)		88,169
PRSUs outstanding at March 31, 2021 (in shares)								88,169
Fair value as of grant date (in dollars per share)		$ 46.42
Remaining lives								2 years 9 months
February 18, 2021 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)	100,000
PRSUs outstanding at March 31, 2021 (in shares)								99,800
Fair value as of grant date (in dollars per share)	$ 51.75
Remaining lives								4 years 9 months

Contingencies (Details)

Contingencies (Details)	Oct. 09, 2020Count	Mar. 31, 2021Subsidiary	Dec. 31, 2018Subsidiary
Contingencies [Abstract]
Number of derivative counts filed in complaint | Count	2
Number of franchisor subsidiaries		2
Number of acquired franchisor subsidiaries			1
Period after Company's demand when lawsuit was filed by franchisee		16 months

Income Per Share (Details)

Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator [Abstract]
Net income attributable to Turning Point Brands, Inc.	$ 11,783	$ 4,499
Denominator [Abstract]
Basic weighted average shares (in shares)	19,093,961	19,689,446
Basic EPS (in dollars per share)	$ 0.62	$ 0.23
Numerator [Abstract]
Net income attributable to Turning Point Brands, Inc.	$ 11,783	$ 4,499
Interest expense related to Convertible Senior Notes, net of tax	1,054	0
Diluted net income attributable to Turning Point Brands. Inc.	$ 12,837	$ 4,499
Denominator [Abstract]
Basic weighted average shares (in shares)	19,093,961	19,689,446
Convertible Senior Notes (in shares)	3,205,895	0
Stock options (in shares)	365,211	417,354
Diluted weighted average shares (in shares)	22,665,067	20,106,800
Diluted EPS (in dollars per share)	$ 0.57	$ 0.22
Convertible Senior Notes [Member]
Income per Share [Abstract]
Shares excluded from calculation of diluted net income per share (in shares)		3,202,808

Segment Information, Financial

Segment Information, Financial Information of Reportable Segments (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2021USD ($)Segment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Information [Abstract]
Number of reportable segments | Segment		3
Segment Information [Abstract]
Net sales		$ 107,641	$ 90,689
Gross profit		53,261	41,431
Operating income (loss)		24,349	9,037
Interest expense, net		4,486	3,309
Investment income		(25)	(91)
Loss on extinguishment of debt		5,706	0
Net periodic income, excluding service cost		0	(87)
Income before income taxes		14,182	5,906
Capital expenditures		842	877
Depreciation and amortization		1,265	1,276
Assets		627,305		$ 496,049
NewGen Products [Member]
Segment Information [Abstract]
Net sales		37,382	35,280
Corporate Unallocated [Member]
Segment Information [Abstract]
Operating income (loss)	[1],[2]	(9,349)	(13,603)
Assets	[3]	175,196		65,017
Operating costs related to PMTA			5,900
Reportable Segments [Member] | Zig-Zag Products [Member]
Segment Information [Abstract]
Net sales		41,004	28,914
Gross profit		24,896	16,132
Operating income (loss)		19,437	12,417
Capital expenditures		0	0
Depreciation and amortization		114	0
Assets		212,400		206,900
Reportable Segments [Member] | Stoker's Products [Member]
Segment Information [Abstract]
Net sales		29,255	26,495
Gross profit		15,892	13,874
Operating income (loss)		12,255	9,746
Capital expenditures		840	860
Depreciation and amortization		635	519
Assets		148,093		133,016
Reportable Segments [Member] | NewGen Products [Member]
Segment Information [Abstract]
Net sales		37,382	35,280
Gross profit		12,473	11,425
Operating income (loss)		2,006	477
Capital expenditures		2	17
Depreciation and amortization		516	$ 757
Assets		$ 91,616		$ 91,116
[1]	Includes corporate costs that are not allocated to any of the three reportable segments.
[2]	Includes costs related to PMTA of $5.9 million in 2020.
[3]	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, 2021	Mar. 31, 2020
Net Sales by Sales Channel [Abstract]
Net sales	$ 107,641	$ 90,689
NewGen Products [Member]
Net Sales by Sales Channel [Abstract]
Net sales	37,382	35,280
NewGen Products [Member] | Business to Business [Member]
Net Sales by Sales Channel [Abstract]
Net sales	27,257	25,278
NewGen Products [Member] | Business to Consumer - Online [Member]
Net Sales by Sales Channel [Abstract]
Net sales	10,033	8,134
NewGen Products [Member] | Business to Consumer - Corporate Store [Member]
Net Sales by Sales Channel [Abstract]
Net sales	0	1,794
NewGen Products [Member] | Other [Member]
Net Sales by Sales Channel [Abstract]
Net sales	$ 92	$ 74

Segment Information, Net Sales

Segment Information, Net Sales - Domestic and Foreign (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Information [Abstract]
Net sales	$ 107,641	$ 90,689
Reportable Geographical Component [Member] | Domestic [Member]
Segment Information [Abstract]
Net sales	100,127	87,568
Reportable Geographical Component [Member] | Foreign [Member]
Segment Information [Abstract]
Net sales	$ 7,514	$ 3,121

Dividends and Share Repurchase

Dividends and Share Repurchase (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 09, 2021	Mar. 31, 2021	Mar. 31, 2020	Feb. 25, 2020
Share Repurchase [Abstract]
Share repurchase program authorized amount				$ 50,000
Total number of shares repurchased (in shares)		119,031
Cost of shares repurchased		$ 5,733	$ 2,627
Average price per share (in dollars per share)		$ 48.16
Remaining share repurchase program authorized amount		$ 34,100
Dividend Declared Q1-2021 [Member]
Dividends [Abstract]
Dividend payable, date to be paid		Apr. 9, 2021
Dividend payable, date of record		Mar. 19, 2021
Dividend Declared Q1-2021 [Member] | Subsequent Event [Member]
Dividends [Abstract]
Cash dividend paid (in dollars per share)	$ 0.055

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Apr. 19, 2021USD ($)
Docklight Brands, Inc. [Member]
Subsequent Events [Abstract]
Payment for investment	$ 8.7