Turning Point Brands (TPB) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	001-37763
Entity Registrant Name	TURNING POINT BRANDS, INC.
Entity Central Index Key	0001290677
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,604,527

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash	$ 96,071	$ 106,403
Accounts receivable, net of allowances of $59 in 2023 and $114 in 2022	10,493	8,377
Inventories, net	116,926	119,915
Other current assets	23,322	22,959
Total current assets	246,812	257,654
Property, plant, and equipment, net	24,613	22,788
Deferred income taxes	8,190	8,443
Right of use assets	12,060	12,465
Deferred financing costs, net	203	282
Goodwill	136,280	136,253
Other intangible assets, net	81,725	83,592
Master Settlement Agreement (MSA) escrow deposits	27,534	27,980
Other assets	16,526	22,649
Total assets	553,943	572,106
Current liabilities:
Accounts payable	11,237	8,355
Accrued liabilities	27,227	33,001
Current portion of long-term debt	48,248	0
Other current liabilities	6	20
Total current liabilities	86,718	41,376
Notes payable and long-term debt	316,573	406,757
Lease liabilities	10,433	10,593
Total liabilities	413,724	458,726
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	117,143	113,242
Cost of repurchased common stock (2,316,460 shares at September 30, 2023 and December 31, 2022)	(78,093)	(78,093)
Accumulated other comprehensive loss	(3,855)	(2,393)
Accumulated earnings	103,517	78,691
Non-controlling interest	1,308	1,735
Total stockholders' equity	140,219	113,380
Total liabilities and stockholders' equity	553,943	572,106
Common Stock, Voting [Member]
Stockholders' equity:
Common stock	199	198
Common Stock, Nonvoting [Member]
Stockholders' equity:
Common stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Accounts receivable, allowance	$ 59	$ 114
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)	2,316,460	2,316,460
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)	19,912,882	19,801,623
Common stock, shares outstanding (in shares)	17,596,422	17,485,163
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Consolidated Statements of Income [Abstract]
Net sales	$ 101,722	$ 107,802	$ 308,273	$ 311,621
Cost of sales	50,100	55,090	155,556	155,646
Gross profit	51,622	52,712	152,717	155,975
Selling, general, and administrative expenses	31,385	32,891	94,093	98,779
Operating income	20,237	19,821	58,624	57,196
Interest expense, net	3,984	4,802	12,013	15,142
Investment loss (gain)	2,101	(75)	10,980	6,074
Gain on extinguishment of debt	(481)	0	(1,858)	0
Income before income taxes	14,633	15,094	37,489	35,980
Income tax expense	3,767	3,797	9,573	8,706
Consolidated net income	10,866	11,297	27,916	27,274
Net gain (loss) attributable to non-controlling interest	35	(239)	(437)	(684)
Net income attributable to Turning Point Brands, Inc.	$ 10,831	$ 11,536	$ 28,353	$ 27,958
Basic income per common share:
Net income attributable to Turning Point Brands, Inc. (in dollars per share)	$ 0.62	$ 0.65	$ 1.61	$ 1.55
Diluted income per common share:
Net income attributable to Turning Point Brands, Inc. (in dollars per share)	$ 0.58	$ 0.6	$ 1.51	$ 1.45
Weighted average common shares outstanding:
Basic (in shares)	17,595,980	17,749,294	17,569,493	18,021,554
Diluted (in shares)	20,098,450	21,102,006	20,415,786	21,401,485

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Consolidated Statements of Comprehensive Income [Abstract]
Consolidated net income	$ 10,866	$ 11,297	$ 27,916	$ 27,274
Other comprehensive income (loss), net of tax
Unrealized loss on MSA investments, net of tax	(527)	(1,046)	(339)	(2,940)
Foreign currency translation, net of tax	270	(160)	23	(122)
Unrealized loss on derivative instruments, net of tax	(320)	(210)	(1,136)	(210)
Other comprehensive income, net of tax	(577)	(1,416)	(1,452)	(3,272)
Consolidated comprehensive income	10,289	9,881	26,464	24,002
Comprehensive gain (loss) attributable to non-controlling interest	35	(295)	(437)	(727)
Comprehensive income attributable to Turning Point Brands, Inc.	$ 10,254	$ 10,176	$ 26,901	$ 24,729

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other comprehensive income (loss), net of tax
Unrealized loss on MSA investments, tax	$ 168	$ 333	$ 108	$ 934
Foreign currency translation, tax	0	0	0	0
Unrealized loss on derivative instruments, tax	$ 102	$ 67	$ 361	$ 67

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Consolidated net income	$ 27,916	$ 27,274
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on extinguishment of debt	(1,858)	0
Loss (gain) on sale of property, plant, and equipment	34	(8)
Depreciation and other amortization expense	2,388	2,611
Amortization of other intangible assets	2,315	1,373
Amortization of deferred financing costs	1,795	1,936
Deferred income tax expense (benefit)	694	(431)
Stock compensation expense	4,660	4,103
Noncash lease income	(48)	0
Loss on investments	11,162	6,244
Changes in operating assets and liabilities:
Accounts receivable	(2,112)	(5,030)
Inventories	3,036	(26,467)
Other current assets	(1,384)	1,891
Other assets	(5,110)	1,211
Accounts payable	2,865	2,074
Accrued liabilities and other	(6,348)	(392)
Net cash provided by operating activities	40,005	16,389
Cash flows from investing activities:
Capital expenditures	(4,206)	(6,662)
Payments for investments	(200)	(1,000)
Restricted cash, MSA escrow deposits	0	(10,169)
Proceeds on the sale of property, plant and equipment	3	63
Net cash used in investing activities	(4,403)	(17,768)
Cash flows from financing activities:
Convertible Senior Notes repurchased	(41,794)	0
Proceeds from call options	114	0
Payment of dividends	(3,354)	(3,259)
Exercise of options	419	504
Redemption of options	(346)	(155)
Redemption of performance restricted stock units	(995)	(1,228)
Common stock repurchased	0	(27,032)
Net cash used in financing activities	(45,956)	(31,170)
Net decrease in cash	(10,354)	(32,549)
Effect of foreign currency translation on cash	22	(324)
Cash, beginning of period:
Unrestricted	106,403	128,320
Restricted	4,929	15,155
Total cash at beginning of period	111,332	143,475
Cash, end of period:
Unrestricted	96,071	105,672
Restricted	4,929	4,930
Total cash at end of period	101,000	110,602
Supplemental schedule of noncash investing activities:
Accrued capital expenditures	66	57
Accrued consideration for acquisition of investments	250	0
Supplemental schedule of noncash financing activities:
Dividends declared not paid	$ 1,187	$ 1,089

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member] Voting [Member]	Additional Paid-In Capital [Member]	Cost of Repurchased Common Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Earnings [Member]	Non-Controlling Interest [Member]	Total
Beginning balance at Dec. 31, 2021	$ 197	$ 108,811	$ (48,869)	$ (195)	$ 71,460	$ 2,312	$ 133,716
Beginning balance (in shares) at Dec. 31, 2021							18,395,476
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	(2,940)	0	0	$ (2,940)
Unrealized loss on derivative instruments, net of tax	0	0	0	(210)	0	0	(210)
Foreign currency translation, net of tax	0	0	0	(79)	0	(43)	(122)
Stock compensation expense	0	4,103	0	0	0	0	4,103
Exercise of options	$ 0	504	0	0	0	0	504
Exercise of options (in shares)	35,394
Redemption of options	$ 0	(155)	0	0	0	0	(155)
Redemption of options (in shares)	0
Performance restricted stock units issuance	$ 1	(1)	0	0	0	0	0
Performance restricted stock units issuance (in shares)	75,345
Performance restricted stock units redeemed	$ 0	(1,141)	0	0	0	0	(1,141)
Performance restricted stock units redeemed (in shares)	0
Redemption of restricted stock units	$ 0	(87)	0	0	0	0	(87)
Cost of repurchased common stock	0	0	$ (27,032)	0	0	0	(27,032)
Cost of repurchased common stock (in shares)			(919,093)
Dividends	0	0	$ 0	0	(3,330)	0	(3,330)
Net income	0	0	0	0	27,958	(684)	27,274
Ending balance at Sep. 30, 2022	198	112,034	(75,901)	(3,424)	96,088	1,585	$ 130,580
Ending balance (in shares) at Sep. 30, 2022							17,587,122
Beginning balance at Dec. 31, 2021	197	108,811	(48,869)	(195)	71,460	2,312	$ 133,716
Beginning balance (in shares) at Dec. 31, 2021							18,395,476
Ending balance at Dec. 31, 2022	198	113,242	(78,093)	(2,393)	78,691	1,735	$ 113,380
Ending balance (in shares) at Dec. 31, 2022							17,485,163
Beginning balance at Jun. 30, 2022	198	110,563	(68,287)	(2,064)	85,641	1,880	$ 127,931
Beginning balance (in shares) at Jun. 30, 2022							17,890,441
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	(1,046)	0	0	$ (1,046)
Unrealized loss on derivative instruments, net of tax	0	0	0	(210)	0	0	(210)
Foreign currency translation, net of tax	0	0	0	(104)	0	(56)	(160)
Stock compensation expense	0	1,442	0	0	0	0	1,442
Exercise of options	$ 0	29	0	0	0	0	29
Exercise of options (in shares)	3,053
Performance restricted stock units issuance	$ 0	0	0	0	0	0	0
Performance restricted stock units issuance (in shares)	835
Cost of repurchased common stock	$ 0	0	$ (7,614)	0	0	0	(7,614)
Cost of repurchased common stock (in shares)			(307,207)
Dividends	0	0	$ 0	0	(1,089)	0	(1,089)
Net income	0	0	0	0	11,536	(239)	11,297
Ending balance at Sep. 30, 2022	198	112,034	(75,901)	(3,424)	96,088	1,585	$ 130,580
Ending balance (in shares) at Sep. 30, 2022							17,587,122
Beginning balance at Dec. 31, 2022	198	113,242	(78,093)	(2,393)	78,691	1,735	$ 113,380
Beginning balance (in shares) at Dec. 31, 2022							17,485,163
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	(339)	0	0	$ (339)
Unrealized loss on derivative instruments, net of tax	0	0	0	(1,136)	0	0	(1,136)
Foreign currency translation, net of tax	0	0	0	13	0	10	23
Stock compensation expense	0	4,660	0	0	0	0	4,660
Exercise of options	$ 0	419	0	0	0	0	419
Exercise of options (in shares)	30,214
Redemption of options	$ 0	(346)	0	0	0	0	(346)
Redemption of options (in shares)	(15,985)
Performance restricted stock units issuance	$ 1	77	0	0	0	0	78
Performance restricted stock units issuance (in shares)	140,324
Performance restricted stock units redeemed	$ 0	(995)	0	0	0	0	(995)
Performance restricted stock units redeemed (in shares)	(43,294)
Settlement of call options, net of tax	$ 0	86	0	0	0	0	86
Dividends	0	0	0	0	(3,527)	0	(3,527)
Net income	0	0	0	0	28,353	(437)	27,916
Ending balance at Sep. 30, 2023	199	117,143	(78,093)	(3,855)	103,517	1,308	$ 140,219
Ending balance (in shares) at Sep. 30, 2023							17,596,422
Beginning balance at Jun. 30, 2023	199	115,272	(78,093)	(3,181)	93,873	1,176	$ 129,246
Beginning balance (in shares) at Jun. 30, 2023							17,595,579
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	(527)	0	0	$ (527)
Unrealized loss on derivative instruments, net of tax	0	0	0	(320)	0	0	(320)
Foreign currency translation, net of tax	0	0	0	173	0	97	270
Stock compensation expense	0	1,824	0	0	0	0	1,824
Exercise of options	$ 0	13	0	0	0	0	13
Exercise of options (in shares)	843
Settlement of call options, net of tax	$ 0	34	0	0	0	0	34
Dividends	0	0	0	0	(1,187)	0	(1,187)
Net income	0	0	0	0	10,831	35	10,866
Ending balance at Sep. 30, 2023	$ 199	$ 117,143	$ (78,093)	$ (3,855)	$ 103,517	$ 1,308	$ 140,219
Ending balance (in shares) at Sep. 30, 2023							17,596,422

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Consolidated Statements of Changes in Stockholders' Equity [Abstract]
Unrealized loss on MSA investments, tax	$ 168	$ 108
Unrealized loss on derivative instruments, tax	102	361
Foreign currency translation, tax	0	0
Settlement of call options, tax	$ 11	$ 28

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
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. The Company sells a wide range of products to adult consumers consisting of staple products with its iconic brands Zig-Zag ® and Stoker’s ® Zig-Zag ® and CLIPPER ® in the Zig-Zag Products segment and Stoker’s ® along with Beech-Nut ® and Trophy ® in the Stoker’s Products segment. 217 three 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, 2022. 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 presented. 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, 2022. 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	9 Months Ended
	Sep. 30, 2023
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 Codification (“ASC”) 606, 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 to be 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 ASC 606 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 16, “Segment Information”. An additional disaggregation of contract revenue by sales channel can be found within Note 16 as well. Shipping Costs The Company records shipping costs incurred as a component of selling, general, and administrative expenses. Shipping costs incurred were approximately $5.1 million and $5.8 million for the three months ending September 30 , 2023 and 2022, respectively. Shipping costs incurred were approximately $17.0 million and $17.9 million for the nine months ending September 30, 2023 and 2022, respectively. Inventories Inventories are stated at the lower of cost or net realizable value using the first -in, -out (“FIFO”) method. Leaf tobacco is presented in current assets in accordance with standard industry practice, notwithstanding the fact that such tobaccos are carried longer than 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 The Compan y enters into foreign currency forwar under the provisions of ASC 815, Derivatives and Hedging. Under the Company’s policy, the Company may hedge up to 100% of its anticipated purchases of inventory in the denominated invoice currency over a forwa 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. The U.S. Food and Drug Administration 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 Creative Distribution Solutions products due to malfunctioning devices. 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 twenty-five years 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. As of September 30, 2023, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $27.5 million. At December 31, 2022, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $28.0 million. The Company discontinued its generic category of MYO in 2019 and its Zig-Zag branded MYO cigarette smoking tobacco in 2017. Thus, pending a change in MSA legislation, the Company has no remaining product lines covered by the MSA and will not be required to make future escrow deposits. 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. Fair values for the U.S. Governmental agency obligations are Level 2 in the fair value hierarchy. The following tables show cost and estimated fair value of the assets held in the MSA account, respectively, as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of September 30, 2023 As of December 31, 2022 Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Cost Losses Value Cost Losses Value Cash and cash equivalents $ 1,929 $ – $ 1,929 $ 1,929 $ – $ 1,929 U.S. Governmental agency obligations (unrealized position < 12 months) – – – 10,226 (1,251 ) 8,975 U.S. Governmental agency obligations (unrealized position > 12 months) 30,144 (4,539 ) 25,605 19,918 (2,842 ) 17,076 $ 32,073 $ (4,539 ) $ 27,534 $ 32,073 $ (4,093 ) $ 27,980 As of September 30, 2023 Less than one year $ 2,200 One to five years 10,238 Five to ten years 15,751 Greater than ten years 1,955 Total $ 30,144 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year September 30, 2023 December 31, 2022 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 82 82 Total $ 32,073 $ 32,073 FDA: On June 22, 2009, the Family Smoking Prevention and Tobacco Control Act (the “FSPTCA”) authorized the FDA to immediately regulate the manufacturing, sale, and marketing of four categories of tobacco products – cigarettes, cigarette tobacco, roll-your-own tobacco, and smokeless tobacco. On August 8, 2016, the FDA deeming regulation became effective. The deeming regulation gave the FDA the authority to also regulate cigars, pipe tobacco, e-cigarettes, vaporizers, and e-liquids as “deemed” tobacco products under the FSPTCA. The FDA currently assesses tobacco product user fees on six classes of regulated tobacco products and computes user fees using a methodology similar to the methodology used by the U.S Department of Agriculture to compute the Tobacco Transition Payment Program (“TTPP,” also known as the “Tobacco Buyout”) assessment. First, the total, annual, congressionally established user fee assessment is allocated among the various classes of tobacco products using the federal excise tax weighted market share of tobacco products subject to regulation. Then, the assessment for each class of tobacco products is divided among individual manufacturers and importers. In August 2016, the FDA’s regulatory authority under the Tobacco Control Act was extended to all tobacco products not previously covered, including: (i) certain Creative Distribution Solutions products (such as electronic cigarettes, vaporizers and e-liquids) and their components or parts (such as tanks, coils and batteries); (ii) cigars and their components or parts (such as cigar tobacco and wraps); (iii) pipe tobacco; (iv) hookah products; and (v) any other tobacco product “newly deemed” by the FDA. These “deeming regulations” apply to all products made or derived from tobacco intended for human consumption, but excluding accessories of tobacco products (such as lighters). Accordingly, the FDA has since regulated our cigar and cigar wrap products as well as our vapor products containing tobacco-derived nicotine and products intended or reasonably expected to be used to consume such e-liquids. Subsequently, on April 14, 2022, the FDA Center for Tobacco Products also obtained jurisdiction over non-tobacco nicotine products (“NTN Products”), including synthetic nicotine. That law subjects NTN Products to the same requirements as tobacco-derived products, including not selling these products to persons under 21 years of age, not marketing these products as modified risk tobacco products without authorization, and not distributing free samples of these products. Additionally, NTN Products became subject to premarket filing requirements. Under the new law, manufacturers were required to file a Premarket Tobacco Application 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. We submitted premarket filings for certain of our regulated products in order to continue selling these products while they remain under review. We have continued to supplement these applications with additional information and have responded to information requests from the FDA; however, there can be no guarantee that the FDA will accept such amendments and responses or that the applications will meet the standard of “appropriate for the protection of public health” or “substantially equivalent,” as appropriate. The FDA has indicated its enforcement priority is those applicants who have received negative action on their application, such as a Marketing Denial Order or Refuse to File notification and who continue to illegally sell those unauthorized products, as well as products for which manufacturers failed to submit a marketing application. Despite these stated enforcement priorities, given the FDA’s limited resources we expect that for a period of time there may be a lack of enforcement, which may adversely impact our ability to compete in the marketplace against those who continue to sell unauthorized products. There can be no guarantee that the FDA will not shift its enforcement priorities or that it will increase in ability to enforce against unauthorized products over time. On October 5, 2021, the FDA finalized rules related to the Substantial Equivalence process and the Premarket Tobacco Product Application process, respectively, which both became effective November 4, 2021. Both final rules (collectively, the “Rules”) indicate that any new or additional requirements will not retroactively apply to currently pending PMTAs for tobacco and tobacco-derived products; however, the information outlined in the rule remains important to the FDA’s substantive review of an application. The FDA has yet to indicate how it might apply these Rules to NTN Product filings. We believe we have products that meet the Rules and have filed premarket filings supporting a showing of the respective required standards. However, there is no assurance that the FDA’s guidance or regulations will not change, or that the FDA will not prioritize its enforcement in a manner that negatively affects our pending applications, or that unforeseen circumstances will not arise that prevent us from sufficiently supplementing or completing our applications or otherwise increases 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 generated by lower priority SKUs. In addition, we currently distribute many third-party manufactured vapor products for which we are 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 or otherwise remain in compliance with relevant legal requirements. 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. Additionally, FDA has limited resources, which may impact its ability to meaningfully enforce these provisions. This . On May 4, 2022, the FDA proposed had provide comments These proposed rules remain pending. Prevent All Cigarette Trafficking Act (“PACT Act”): On December 27, 2020, President Trump signed the Further Consolidated Appropriations Act, 2021, into law. This law included an amendment to the Jenkins Act expanding the definition of “cigarette” to include “electronic nicotine delivery systems,” or ENDS, and required that the United States Postal Service (“USPS”) promulgate regulations clarifying the applicability of the prohibition on delivery sales of cigarettes to ENDS. USPS issued its final rule on October 21, 2021. We have received appropriate shipping exemptions from carrier services we use to carry the affected freight. Failure to comply with the PACT Act could result in significant financial or criminal penalties. To the extent we are unable to respond to, or comply with, these new requirements, we could lose our shipping exemptions, be subject to civil or criminal penalties, or there could be a material adverse effect on our business, results of operations and financial condition.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2023
Derivative Instruments [Abstract]
Derivative Instruments	Note 3. Derivative Instruments Foreign Currency During the nine months ended September 30, 2023 €20.1 million and the sale of € At September 30, 2023 September 30, 2023

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 4. 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 in Note 10) bear interest at a rate of per year. As of September 30, 2023 million, with a carrying value of As of December 31, 2022, the fair value of the Senior Secured Notes approximated $226.4 million, with a carrying value of The Convertible Senior Notes (as defined in Note 10) bear interest at a rate of 2.50% per year, and the fair value of the Convertible Senior Notes without the conversion feature approximated million, with a carrying value of million as of September 30, 2023 approximated $139.2 million, with a carrying value of million. See Note 10, “Notes Payable and Long-Term Debt”, for further information regarding the Company’s long-term debt.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventories [Abstract]
Inventories	Note 5. Inventories The components of inventories are as follows: September 30, December 31, 2023 2022 Raw materials and work in process $ 5,512 $ 7,283 Leaf tobacco 53,018 43,468 Finished goods - Zig-Zag Products 40,988 42,279 Finished goods - Stoker’s Products 8,729 9,667 Finished goods - Creative Distribution Solutions 7,059 15,431 Other 1,620 1,787 Inventories $ 116,926 $ 119,915 The inventory valuation allowance was $4.1 million and $4.5 million as of September 30, 2023 , and December 31, 2022, respectively.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2023
Other Current Assets [Abstract]
Other Current Assets	Note 6. Other Current Assets Other current assets consist of: September 30, December 31, 2023 2022 Inventory deposits $ 5,357 $ 6,395 Insurance deposit 3,000 3,000 Prepaid taxes 1,675 448 Other 13,290 13,116 Total $ 23,322 $ 22,959

Property, Plant, and Equipment

Property, Plant, and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant, and Equipment [Abstract]
Property, Plant, and Equipment	Note 7. Property, Plant, and Equipment Property, plant, and equipment consists of: September 30, December 31, 2023 2022 Land $ 22 $ 22 Buildings and improvements 3,940 3,096 Leasehold improvements 5,252 5,404 Machinery and equipment 28,837 25,832 Furniture and fixtures 8,138 9,264 Gross property, plant and equipment 46,189 43,618 Accumulated depreciation (21,576 ) (20,830 ) Net property, plant and equipment $ 24,613 $ 22,788

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2023
Other Assets [Abstract]
Other Assets	Note 8. Other Assets Other assets consist of: September 30, December 31, 2023 2022 Equity investments $ 2,421 $ 13,376 Debt security investment 7,765 7,820 Other 6,340 1,453 Total $ 16,526 $ 22,649 The Company records its equity investments without a readily determinable fair value, that are not accounted for under the equity method, at cost, with adjustments for impairment and observable price changes. In July 2021, the Company invested $8.0 million in Old Pal Holding Company LLC (“Old Pal”). In July 2022, the Company invested an additional $1.0 million in Old Pal. The Company invested in the form of a convertible note which includes additional follow-on investment rights. The accrued interest of $0.2 $9.2 million. Old Pal is a leading brand in the cannabis lifestyle space that operates a non-plant touching licensing model. The convertible note bears an interest rate of 3.0% per year and matures July 31, 2026. one-year increments. The interest rate is subject to change based on Old Pal reaching certain sales thresholds. The weighted average 3.0% for the three and nine months ended September 30, 2023. Old Pal has the option to convert the note into shares once sales reach a certain threshold. The conditions required to allow Old Pal to convert the note were not met as of September 30, 2023. Additionally, the Company has the right to convert the note into shares at any time after January 1, 2022. The Company has classified the debt security with Old Pal as available for sale. The Company reports interest income on available for sale debt securities in interest income in our Consolidated Statements of Income. Quarterly, we perform a qualitative assessment to determine if the fair value of the In April 2021, the Company invested $8.7 million in Docklight Brands, Inc., a pioneering consumer products company with celebrated brands including Marley Natural Marley Marley resulting in the fair value of the Company’s investment decreasing to $3.8 million resulting in a loss of $4.9 million which was recorded In October 2020, the Company invested $2.5 million to acquire a 20% sta ke in Wild Hempettes, LLC, a manufacturer of natural CBD cigarettes designed as the first cigarette-styled CBD pre-roll in the world. The Company has options to increase its stake to a 100% ownership position based on certain milestones. As part of the transaction, the Wild Hempettes joint venture was spun off from Crown Distributing LLC and formed as a vehicle for the Company to be the exclusive distributor of Hempettes™ cigarettes to U.S. bricks and mortar retailers under a profit-sharing arrangement. Effective January 2023, the Company terminated its distribution agreement. The Company accounts for its 20% share of Wild Hempettes profit or loss using the equity method of accounting. In the third quarter of 2023, based on Wild Hempettes financial results, the Company deemed its investment in Wild Hempettes to be other-than-temporarily impaired resulting in a $2.2 million impairment charge included in investment loss for the three and nine months ended September 30, 2023. Fair value for its share of investment in Wild Hempettes was determined using a valuation derived from relevant revenue multiples (Level 3). As a result of the analysis, th In October 2020, the Company invested $15.0 million in dosist ™ .

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2023
Accrued Liabilities [Abstract]
Accrued Liabilities	Note 9. Accrued Liabilities Accrued liabilities consist of: September 30, December 31, 2023 2022 Accrued payroll and related items $ 6,299 $ 7,685 Customer returns and allowances 6,384 7,291 Taxes payable 1,259 1,867 Lease liabilities 2,809 3,102 Accrued interest 2,507 7,277 Other 7,969 5,779 Total $ 27,227 $ 33,001

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Note 10. Notes Payable and Long-Term Debt Notes payable and long-term debt consists of the following in order of preference: September 30, December 31, 2023 2022 Senior Secured Notes $ 250,000 $ 250,000 Convertible Senior Notes 118,541 162,500 Gross notes payable and long-term debt 368,541 412,500 Less deferred finance charges (3,720 ) (5,743 ) Less current maturities (48,248 ) – Notes payable and long-term debt $ 316,573 $ 406,757 Senior Secured Notes On February 11, 2021, the Company closed a private offering (the “Offering”) of $250.0 million aggregate principal amount of its 5.625% senior secured notes due 2026 (the “Senior Secured Notes” or the “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 $ 15.0 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 on or after February 15, 2023, at the redemption prices (expressed as a percentage of the principal amount to be redeemed) set forth below, plus accrued and unpaid interest, if any, on the Senior Secured Notes to be redeemed to (but not including) the applicable redemption date if redeemed during the period indicated below: On or after February 15, 2023 102.813 % On or after February 15, 2024 101.406 % On or after February 15, 2025 and thereafter 100.000 % 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 Senior Secured Notes 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 Senior Secured Notes Indenture. The Senior Secured Notes Indenture provides for customary events of default . The Company was in compliance with all covenants as of September 30, 2023. 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. 2021 Revolving Credit Facility In connection with the Offering, the Company also entered into a new $25.0 million senior secured revolving credit facility (the “ 2021 Revolving Credit Facility”) with the lenders party thereto and Barclays Bank PLC, as administrative agent and collateral agent (in such capacity, the “Agent”). 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 Amended Revolving Credit Facility but does have letters of credit of approximately $ million outstanding under the facility as of September 30, 2023. The Amended 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 Amended Revolving Credit Facility at a fluctuating rate of interest determined by reference to the Eurodollar rate or the Term SOFR rate, as applicable, 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 Amended Revolving Credit Agreement are guaranteed on a joint and several basis by the Guarantors. The Company’s and Guarantors’ obligations under the Amended Revolving Credit Facility are secured on a pari passu basis with the Senior Secured Notes. The Amended Revolving Credit Agreement contains covenants that are substantially the same as the covenants in the Senior Secured Notes Indenture. The Amended Revolving Credit Facility also requires the maintenance of a Consolidated Leverage Ratio (as defined in the Amended 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 Amended 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 $5.0 million) in the aggregate outstanding exceeds 35% of the total commitments under the Amended Revolving Credit Facility. The Amended Revolving Credit Agreement provides for customary events of default. The Company was in compliance with all covenants as of September 30, 2023 The Company incurred debt issuance costs attributable to the issuance of the Amended Revolving Credit Facility of $ 0.5 million which are amortized to interest expense using the effective interest method over the expected life of the Amended Revolving Credit Facility. On November 7, 2023, in connection with the entry by a subsidiary of the Company in a new asset-backed revolving credit facility, the Company terminated the Amended Revolving Credit Agreement. 2023 ABL Facility On November 7, The 2023 ABL Facility contains customary borrowing conditions including a borrowing base equal to the sum of Amounts borrowed under the 2023 ABL Facility are subject to an interest rate per annum equal to Level Historical Excess Availability Applicable Margin for SOFR Loans Applicable Margin for Base Rate Loans I Greater than or equal to 66.66% 1.75% 0.75% II Less than 66.66%, but greater than or equal to 33.33% 2.00% 1.00% III Less than 33.33% 2.25% 1.25% The 2023 ABL Facility also requires the Company and its restricted subsidiaries to maintain a fixed charge coverage ratio of at least 1.00 to 1.00 as of the end of any four consecutive fiscal quarters on or after if The 2023 ABL Facility shall mature on the earlier of (x) November 7, 2027 and (y) the date that is 91 days prior to the maturity date of any material debt of the ABL Borrower or the Company or any of its restricted subsidiaries (subject to customary extensions agreed by the lenders thereunder); provided that clause (y) shall not apply to the extent that on any applicable date of determination (on any date prior to the date set forth in clause (y)), (A) the sum of (x) cash that is held in escrow for the repayment of such material debt pursuant to arrangements satisfactory to the Administrative Agent, (y) cash that is held in accounts with the Administrative Agent and/or the Additional Collateral Agent, plus (z) excess availability, is sufficient to repay such material debt and (B) the ABL Borrower has excess availability of at least $15.0 million after giving effect to such repayment of material debt, including any borrowings under the commitments in connection therewith. 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 are senior unsecured obligations of the Company. In the fourth quarter of 2022, a wholly owned subsidiary of the Company repurchased $10.0 million in aggregate principal amount of the Convertible Senior Notes on the open market resulting in a $0.9 million gain on extinguishment of debt. Subsequent principal repurchases occurred in the first, second and third quarters of 2023 for $13.9 million, $15.1 million and $15.0 million, respectively, in aggregate principal amounts resulting in gains on extinguishment of debt of $0.7 million, $0.6 million and $0.6 million, respectively. The Convertible Senior Notes held by third parties are convertible into approximately 2,216,029 shares of TPB Common Stock under certain circumstances prior to maturity at a conversion rate of 18.6942 shares per $1,000 principal amount of the Convertible Senior Notes, which represents a conversion price of approximately $53.49 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 September 30, 2023 The Convertible Senior Notes of $118.5 million as of September 30, 2023, became current in the third quarter of 2023. , $75.0 million . As a result, the Company reclassified Notes payable long-term debt 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 $53.49 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.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Note 11. Leases The Company’s leases consist primarily of leased property for manufacturing, warehouse, corporate 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. 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 September 30, 2023 2022 Operating lease cost Cost of sales $ 125 $ 240 Selling, general and administrative 496 348 Variable lease cost (1) 301 235 Short-term lease cost 7 6 Total $ 929 $ 829 (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. Three Months Ended September 30, 2023 2022 Financing lease cost Selling, general and administrative $ 397 $ 332 Total $ 397 $ 332 Nine Months Ended September 30, 2023 2022 Operating lease cost Cost of sales $ 382 $ 700 Selling, general and administrative 1,520 1,133 Variable lease cost (1) 933 558 Short-term lease cost 20 31 Total $ 2,855 $ 2,422 Nine Months Ended September 30, 2023 2022 Financing lease cost Selling, general and administrative $ 1,083 $ 920 Total $ 1,083 $ 920 September 30, December 31, 2023 2022 Assets: Right of use assets - Operating $ 10,332 $ 10,967 Right of use assets - Financing 1,728 1,498 Total lease assets $ 12,060 $ 12,465 Liabilities: Current lease liabilities - Operating $ 1,717 $ 2,007 Current lease liabilities - Financing 1,092 1,095 Long-term lease liabilities - Operating 9,854 10,243 Long-term lease liabilities - Financing 579 350 Total lease liabilities $ 13,242 $ 13,695 (2) Reported within accrued liabilities on the balance sheets.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Taxes [Abstract]
Income Taxes	Note 12. Income Taxes The Company’s effective income tax rate for the three and nine months ended September 30, 2023 was 25.7% and 25.5%, respectively. The Company’s effective income tax rate for the three and nine months ended September 30, 2022 was 25.2% and 24.2%, respectively, which includes a discrete tax deduction of $0.0 million and $0.7 million, respectively, relating to stock option exercise s . 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 2019.

Share Incentive Plans

Share Incentive Plans	9 Months Ended
	Sep. 30, 2023
Share Incentive Plans [Abstract]
Share Incentive Plans	Note 13. 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”), 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 100,052 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 September 30, 2023, net of forfeitures, there were Restricted Stock Units (“RSUs”), options and Performance-Based Restricted Stock Units (“PRSUs”) On April 28, 2016, the Board of Directors of the Company adopted the 2015 Plan, pursuant to which awards could have been granted to employees, non-employee directors, and consultants. In addition, the 2015 Plan provided 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 were 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 was scheduled to terminate on April 27, 2026. Upon adoption of the 2021 Plan, the 2015 Plan was terminated, and the Company determined additional grants would be made under the 2015 Plan. However, all awards issued under the 2015 Plan that have not been previously terminated or forfeited remain outstanding and continue unaffected. There are shares available for grant under the 2015 Plan. On February 8, 2006, the Board of Directors of the Company adopted the 2006 Equity Incentive Plan (the “2006 Plan”) of North Atlantic Holding Company, Inc., pursuant to which awards may be granted to employees. The 2006 Plan provides for the granting of nonqualified stock options and restricted stock awards to employees. Upon the adoption of the Company’s 2015 Equity Incentive Plan in connection with its IPO, the Company determined no additional grants would be made under the 2006 Plan. However, all awards issued under the 2006 Plan that have not been previously terminated or forfeited remain outstanding and continue unaffected. There are no shares available for grant under the 2006 Plan. Stock option activity for the 2006, 2015 and 2021 Plans is summarized below: Weighted Weighted Stock Average Average Option Exercise Grant Date Shares Price Fair Value Outstanding, December 31, 2021 619,835 $ 28.51 $ 8.70 Granted 114,827 30.58 10.34 Exercised (40,331 ) 12.49 4.08 Forfeited (11,117 ) 32.60 9.35 Outstanding, December 31, 2022 683,214 $ 29.74 $ 9.24 Granted 77,519 20.71 6.45 Exercised (30,214 ) 13.87 4.37 Forfeited (65,214 ) 27.38 9.11 Outstanding, September 30 2023 665,305 $ 29.67 $ 9.14 Under the 2006, 2015 and 2021 Plans, the total intrinsic value of options exercised during the nine months ended September 30, 2023 and 2022, was $0.2 million, and $0.7 million, respectively. At September 30, 2023, under the 2006 Plan, the exercise price for the 46,824 outstanding 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 .85 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 at the date of grant was determined using the Black-Scholes model with the following assumptions: 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 September 30, 2023, under the 2015 and 2021 Plans, 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, May 17, March 7, March 20, October 24, March 18, February 18, May 3, 2017 2017 2018 2019 2019 2020 2021 2021 Number of options granted 40,000 93,819 98,100 155,780 25,000 155,000 100,000 12,000 Options outstanding at September 30 2023 20,000 39,983 51,567 125,834 25,000 80,975 90,253 12,000 Number exercisable at September 30 2023 20,000 39,983 51,567 125,834 25,000 80,975 63,727 8,040 Exercise price $ 13.00 $ 15.41 $ 21.21 $ 47.58 $ 20.89 $ 14.85 $ 51.75 $ 47.76 Remaining lives 3.37 3.63 4.44 5.47 6.07 6.47 7.39 7.59 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.34 % 1.58 % 0.79 % 0.56 % 0.84 % Expected volatility 27.44 % 26.92 % 28.76 % 30.95 % 31.93 % 35.72 % 28.69 % 29.03 % Expected life 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 Dividend yield – – 0.83 % 0.42 % 0.95 % 1.49 % 0.55 % 0.59 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 15.63 $ 6.27 $ 4.41 $ 13.77 $ 13.06 The following table outlines the assumptions based on the number of options granted under the 2021 Plan. May 17, March 14, April 29, May 12 2021 2022 2022 2023 Number of options granted 7,500 100,000 14,827 77,519 Options outstanding at September 30 2023 7,500 73,023 14,827 77,519 Number exercisable at September 30 2023 5,100 24,995 5,042 58,139 Exercise price $ 45.05 $ 30.46 $ 31.39 $ 20.71 Remaining lives 7.63 8.46 8.59 9.62 Risk free interest rate 0.84 % 2.10 % 2.92 % 3.41 % Expected volatility 31.50 % 35.33 % 35.33 % 34.51 % Expected life 6.000 6.000 6.000 5.186 Dividend yield 0.63 % 1.01 % 0.98 % 1.61 % Fair value at grant date $ 13.23 $ 10.23 $ 11.07 $ 6.45 The Company has recorded compensation expense related to the options based on the provisions of ASC 718 under which the fixed portion of such expense is determined as the fair value of the options on the date of grant and amortized over the vesting period. The Company recorded compensation expense related to the options of approximately $0.2 million and $0.3 million for the three months ended September 30, 2023 and 2022, respectively. The Company recorded compensation expense related to the options of approximately $0.6 million and $0.8 million for the nine months ended September 30, 2023 and 2022, respectively. Total unrecognized compensation expense related to options at September 30, 2023, is $0.3 million, which will be expensed over 0.94 year s. 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 five-year 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 September 30, 2023 there are PRSUs outstanding. The following table outlines the PRSUs granted and outstanding as of September 30, 2023 . March 20, March 18, December 28, February 18, March 14, May 4, 2019 2020 2020 2021 2022 2023 Number of PRSUs granted 92,500 94,000 88,169 100,000 49,996 133,577 PRSUs outstanding at September 30 2023 77,080 84,360 31,040 87,340 43,525 133,577 Fair value as of grant date $ 47.58 $ 14.85 $ 46.42 $ 51.75 $ 30.46 $ 22.25 Remaining lives 0.25 1.25 0.25 2.25 3.25 2.50 The Company recorded compensation expense related to the PRSUs of approximately $0.8 million and $0.8 million in the consolidated statements of income for the three months ended September 30, 2023 and 2022, respectively, based on the probability of achieving the performance condition. The Company recorded compensation expense related to the PRSUs of approximately $1.9 million and $2.4 million in the consolidated statements of income for the nine months ended September 30, 2023 and 2022, respectively, based on the probability of achieving the performance condition. Total unrecognized compensation expense related to these awards at September 30, 2023, is $4.4 million which will be expensed over the service periods based on the probability of achieving the performance conditio n. The Company has granted 228,640 RSUs which are outstanding and vest over one September 30, 2023 March 14, March 14, April 29, May 5, May 5, May 8, 2022 2022 2022 2023 2023 2023 Number of RSUs granted 50,004 28,726 4,522 130,873 22,472 20,101 RSUs outstanding at September 30, 2023 42,947 18,961 4,522 130,873 11,236 20,101 Fair value as of grant date $ 30.46 $ 30.46 $ 31.39 $ 22.25 $ 22.25 $ 21.77 Remaining lives 3.25 1.25 3.25 2.50 0.25 0.60 The Company has recorded compensation expense related to the RSUs based on the provisions of ASC 718 under which the fixed portion of such expense is determined as the fair value of the RSUs on the date of grant and amortized over the vesting period. The Company recorded compensation expense related to the RSUs of approximately $0.8 million and $0.4 million for the three months ended September 30, 2023 and 2022. The Company recorded compensation expense related to the RSUs of approximately $2.2 million and $0.9 million for the nine months ended September 30, 2023 and 2022, respectively. Total unrecognized compensation expense related to RSUs at September 30, 2023, is $3.3 million, which will be expensed over 2.44 years.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2023
Contingencies [Abstract]
Contingencies	Note 14. Contingencies On October 9, 2020, a purported stockholder of Turning Point Brands, Inc. (“TPB” or the “Company”), Paul-Emile Berteau (the “Plaintiff”), filed a complaint in the Delaware Court of Chancery (the “Court”) relating to the merger of Standard Diversified, Inc. (“SDI”) with a TPB subsidiary (“Merger Sub”)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 “Action”). The complaint purports to assert two derivative counts for breach of fiduciary duty on TPB’s behalf and against the TPB Board of Directors and certain SDI affiliates (collectively, the “Defendants”). The third count also purports to assert a direct claim against TPB and its Board of Directors based on allegations that TPB’s Amended and Restated Bylaws are inconsistent with TPB’s certificate of incorporation. On October 26, 2020, the TPB Board of Directors adopted Amendment No. 1 to TPB’s Amended and Restated Bylaws, which amended the challenged section of the bylaws. On June 30, 2021, the Court granted in part and denied in part the Defendants’ motions to dismiss. Among other things, the Court dismissed TPB director H.C. Charles Diao as a defendant in the action and dismissed the third count of the Plaintiff’s complaint as moot. The Defendants and the Company deny any wrongdoing but following a mediation in November 2022, the Defendants agreed to settle with the Plaintiff to eliminate the distraction, burden, expense, risks and potential delay of further litigation involving the asserted claims. The parties entered into a Stipulation and Agreement of Compromise, Settlement and Release, dated and filed with the Court on June 27, 2023 (together with the exhibits thereto, the “Settlement Stipulation”). The material terms of the proposed settlement of the Action include, among other things, that the Defendants’ insurers will pay or cause to be paid an aggregate of $5,000,000 into an escrow account (the “Settlement Payment”) in exchange for a release of all claims. Plaintiff also intends to seek an award of attorneys’ fees and expenses to Plaintiff’s counsel of up to $1,000,000 that will be paid out of the Settlement Payment with the remaining funds paid to the Company, Plaintiff’s counsel 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, if such a claim were brought against the Company, 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 batteries and may be subject to claims in the future relating to other products. and may from time to time settle some such suits in order to eliminate distraction, burden, expense, risks and potential delay of further litigation involving the asserted claims. We have several subsidiaries engaged in making, distributing, and selling vapor products. While we have received with regard to the marketing of our vapor products, no regulatory bodies have taken action against us with regard to our marketing practices 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. We recently won a dispositive motion in an arbitration brought by a former franchisee. We ha remaining former franchisee arbitration relating to claims of breach of contract and negligence allegations, among others. We believe we have good and valid substantive defenses against these claims and intend on vigorously defending our interests in this matter.

Income Per Share

Income Per Share	9 Months Ended
	Sep. 30, 2023
Income Per Share [Abstract]
Income Per Share	Note 15. 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 September 30, 2023 2022 Per Per Income Shares Share Income Shares Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 10,831 $ 11,536 Denominator Weighted average 17,595,980 $ 0.62 17,749,294 $ 0.65 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 10,831 $ 11,536 Interest expense related to Convertible Senior Notes, net of tax 743 1,054 Diluted net income attributable to Turning Point Brands. Inc. $ 11,574 $ 12,590 Denominator Basic weighted average 17,595,980 17,749,294 Convertible Senior Notes 2,311,086 3,213,589 Stock options and restricted stock units 191,384 139,123 20,098,450 $ 0.58 21,102,006 $ 0.60 Nine Months Ended September 30, 2023 2022 Per Per Income Shares Share Income Shares Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 28,353 $ 27,958 Denominator Weighted average 17,569,493 $ 1.61 18,021,554 $ 1.55 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 28,353 $ 27,958 Interest expense related to Convertible Senior Notes 2,546 3,162 Diluted net income attributable to Turning Point Brands. Inc. $ 30,899 $ 31,120 Denominator Basic weighted average 17,569,493 18,021,554 Convertible Senior Notes 2,637,252 3,213,589 Stock options and restricted stock units 209,041 166,342 20,415,786 $ 1.51 21,401,485 $ 1.45

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Information [Abstract]
Segment Information	Note 16. 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) Creative Distribution Solutions. The Zig-Zag Products segment markets and distributes (a) rolling papers, tubes, and related products; and (b) finished cigars and MYO cigar wraps and (c) CLIPPER reusable lighters and other accessories. The Stoker’s Products segment (a) manufactures and markets moist snuff and (b) contracts for and markets loose leaf chewing tobacco products. The Creative Distribution Solutions segment (a) markets and distributes 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 U.S. and Canada while products in the Creative Distribution Solutions segment are distributed primarily through e-commerce to non-traditional retail outlets and direct to consumers in the U.S. Corporate unallocated 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 September 30, 2023 2022 Net sales Zig-Zag products $ 46,754 $ 52,061 Stoker’s products 36,916 33,525 Total Zig-Zag and Stoker’s products $ 83,670 $ 85,586 Creative Distribution Solutions 18,052 22,216 Total $ 101,722 $ 107,802 Gross profit Zig-Zag products $ 26,745 $ 28,035 Stoker’s products 20,572 18,279 Total Zig-Zag and Stoker’s products $ 47,317 $ 46,314 Creative Distribution Solutions 4,305 6,398 Total $ 51,622 $ 52,712 Operating income (loss) Zig-Zag products $ 16,672 $ 18,740 Stoker’s products 15,703 13,653 Corporate unallocated (1)(2) (11,678 ) (12,714 ) Total Zig-Zag and Stoker’s products $ 20,697 $ 19,679 Creative Distribution Solutions (460 ) 142 Total $ 20,237 $ 19,821 Interest expense, net 3,984 4,802 Investment loss 2,101 (75 ) Gain on extinguishment of debt (481 ) – Income before income taxes $ 14,633 $ 15,094 Capital expenditures Zig-Zag products $ 3 $ 29 Stoker’s products 1,211 940 Total Zig-Zag and Stoker’s products $ 1,214 $ 969 Creative Distribution Solutions – – Total $ 1,214 $ 969 Depreciation and amortization Zig-Zag products $ 269 $ 124 Stoker’s products 795 738 Total Zig-Zag and Stoker’s products $ 1,064 $ 862 Creative Distribution Solutions 562 453 Total $ 1,626 $ 1,315 (1) Includes corporate costs that are not allocated to any of the three reportable segments. (2) Includes costs related to PMTA of $0.3 million in 2023 and $1.2 million in 2022. Nine Months Ended September 30, 2023 2022 Net sales Zig-Zag products $ 135,363 $ 143,959 Stoker’s products 106,634 98,816 Total Zig-Zag and Stoker’s products $ 241,997 $ 242,775 Creative Distribution Solutions 66,276 68,846 Total $ 308,273 $ 311,621 Gross profit Zig-Zag products $ 75,557 $ 80,808 Stoker’s products 60,005 54,044 Total Zig-Zag and Stoker’s products $ 135,562 $ 134,852 Creative Distribution Solutions 17,155 21,123 Total $ 152,717 $ 155,975 Operating income (loss) Zig-Zag products $ 47,313 $ 55,980 Stoker’s products 45,375 40,536 Corporate unallocated (1)(2) (34,325 ) (40,692 ) Total Zig-Zag and Stoker’s products $ 58,363 $ 55,824 Creative Distribution Solutions 261 1,372 Total $ 58,624 $ 57,196 Interest expense, net 12,013 15,142 Investment loss 10,980 6,074 Gain on extinguishment of debt (1,858 ) – Income before income taxes $ 37,489 $ 35,980 Capital expenditures Zig-Zag products $ 1,088 $ 4,588 Stoker’s products 3,118 2,074 Total Zig-Zag and Stoker’s products $ 4,206 $ 6,662 Creative Distribution Solutions – – Total $ 4,206 $ 6,662 Depreciation and amortization Zig-Zag products $ 803 $ 309 Stoker’s products 2,210 2,275 Total Zig-Zag and Stoker’s products $ 3,013 $ 2,584 Creative Distribution Solutions 1,690 1,400 Total $ 4,703 $ 3,984 (1) Includes corporate costs that are not allocated to any of the three reportable segments. (2) Includes costs related to PMTA of $ 1.1 million in 2023 and $4.3 million in 2022. September 30, December 31, 2023 2022 Assets Zig-Zag products $ 176,975 $ 225,893 Stoker’s products 175,566 151,241 Corporate unallocated (1) 172,294 155,348 Total Zig-Zag and Stoker’s products $ 524,835 $ 532,482 Creative Distribution Solutions 29,108 39,624 Total $ 553,943 $ 572,106 (1) Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments. Revenue Disaggregation—Sales Channel Revenues of the Zig-Zag Products and Stoker’s Products segments are primarily comprised of sales made to wholesalers while Creative Distribution Solutions sales are made business to business and business to consumer, both online and through our corporate retail stores. Creative Distribution Solutions net sales are broken out by sales channel below. Creative Distribution Solutions Segment Three Months Ended September 30, 2023 2022 Business to Business $ 16,089 $ 18,226 Business to Consumer - Online 1,912 3,884 Other 51 106 Total $ 18,052 $ 22,216 Creative Distribution Solutions Segment Nine Months Ended September 30, 2023 2022 Business to Business $ 58,620 $ 55,024 Business to Consumer - Online 7,247 13,453 Other 409 369 Total $ 66,276 $ 68,846 Net Sales—Domestic vs. Foreign The following table shows a breakdown of consolidated net sales between domestic and foreign customers. Three Months Ended September 30, 2023 2022 Domestic $ 93,533 $ 98,173 Foreign 8,189 9,629 Total $ 101,722 $ 107,802 Nine Months Ended September 30, 2023 2022 Domestic $ 285,514 $ 287,381 Foreign 22,759 24,240 Total $ 308,273 $ 311,621

Additional Information with Res

Additional Information with Respect to Unrestricted Subsidiary	9 Months Ended
	Sep. 30, 2023
Additional Information with Respect to Unrestricted Subsidiary [Abstract]
Additional Information with Respect to Unrestricted Subsidiary	Note 17. Additional Information with Respect to Unrestricted Subsidiary Under the terms of the Senior Secured Notes Indenture and Senior Secured Notes, the Company has designated its subsidiaries, South Beach Brands LLC, TPB Beast LLC and Intrepid Brands, LLC as “Unrestricted Subsidiaries”. South Beach Brands LLC is a holding company under which our vape business TPB Beast LLC operating as Creative Distribution Solutions sits. The Company is required under the terms of the Senior Secured Notes Indenture and the Senior Secured Notes to present additional information that reflects the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Company’s Unrestricted Subsidiaries as of and for the periods presented. This additional information is below. Income Statement for the Three Months Ended September 30, 2023 and 2022 (unaudited): Three Months Ended September 30 2023 2022 Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Net sales $ 83,670 $ 18,052 $ 101,722 $ 85,586 $ 22,216 $ 107,802 Cost of sales 36,353 13,747 50,100 39,272 15,818 55,090 Gross profit 47,317 4,305 51,622 46,314 6,398 52,712 Selling, general, and administrative expenses 26,620 4,765 31,385 26,635 6,256 32,891 Operating income 20,697 (460 ) 20,237 19,679 142 19,821 Interest expense, net 3,984 – 3,984 4,802 – 4,802 Investment loss 2,101 – 2,101 (75 ) – (75 ) Gain on extinguishment of debt (481 ) – (481 ) – – – Income before income taxes 15,093 (460 ) 14,633 14,952 142 15,094 Income tax expense 3,885 (118 ) 3,767 3,761 36 3,797 Consolidated net income 11,208 (342 ) 10,866 11,191 106 11,297 Net loss attributable to non-controlling interest 35 – 35 (239 ) – (239 ) Net income attributable to Turning Point Brands, Inc. $ 11,173 $ (342 ) $ 10,831 $ 11,430 $ 106 $ 11,536 Income Statement for the Nine Months Ended September 30, 2023 and 2022 (unaudited): Nine Months Ended September 30 2023 2022 Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Net sales $ 241,997 $ 66,276 $ 308,273 $ 242,775 $ 68,846 $ 311,621 Cost of sales 106,435 49,121 155,556 107,923 47,723 155,646 Gross profit 135,562 17,155 152,717 134,852 21,123 155,975 Selling, general, and administrative expenses 77,199 16,894 94,093 79,028 19,751 98,779 Operating income 58,363 261 58,624 55,824 1,372 57,196 Interest expense, net 12,013 – 12,013 15,142 – 15,142 Investment loss 10,980 – 10,980 6,074 – 6,074 Gain on extinguishment of debt (1,858 ) – (1,858 ) – – – Income before income taxes 37,228 261 37,489 34,608 1,372 35,980 Income tax expense 9,506 67 9,573 8,374 332 8,706 Consolidated net income 27,722 194 27,916 26,234 1,040 27,274 Net loss attributable to non-controlling interest (437 ) – (437 ) (684 ) – (684 ) Net income attributable to Turning Point Brands, Inc. $ 28,159 $ 194 $ 28,353 $ 26,918 $ 1,040 $ 27,958 Balance Sheet as of September 30, 2023 (unaudited): ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 92,353 $ 3,718 $ – $ 96,071 Accounts receivable, net 10,363 130 – 10,493 Inventories 109,867 7,059 – 116,926 Other current assets 20,417 2,905 – 23,322 Total current assets 233,000 13,812 – 246,812 Property, plant, and equipment, net 24,382 231 – 24,613 Deferred income taxes 8,190 – – 8,190 Right of use assets 11,922 138 – 12,060 Deferred financing costs, net 203 – – 203 Goodwill 136,280 – – 136,280 Other intangible assets, net 66,798 14,927 – 81,725 Master Settlement Agreement (MSA) escrow deposits 27,534 – – 27,534 Other assets 16,526 – – 16,526 Investment in unrestricted subsidiaries 49,047 – (49,047 ) – Total assets $ 573,882 $ 29,108 $ (49,047 ) $ 553,943 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 10,305 $ 932 $ – $ 11,237 Accrued liabilities 25,243 1,984 – 27,227 Current portion of long-term debt 48,248 – – 48,248 Other current liabilities 6 – – 6 Total current liabilities 83,802 2,916 – 86,718 Notes payable and long-term debt 316,573 – – 316,573 Lease liabilities 10,363 70 – 10,433 Total liabilities 410,738 2,986 – 413,724 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 161,836 26,122 (49,047 ) 138,911 Non-controlling interest 1,308 – – 1,308 Total stockholders’ equity 163,144 26,122 (49,047 ) 140,219 Total liabilities and stockholders’ equity $ 573,882 $ 29,108 $ (49,047 ) $ 553,943 Balance Sheet as of December 31, 2022: ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 103,990 $ 2,413 $ – $ 106,403 Accounts receivable, net 7,374 1,003 – 8,377 Inventories 104,883 15,032 – 119,915 Other current assets 18,828 4,131 – 22,959 Total current assets 235,075 22,579 – 257,654 Property, plant, and equipment, net 22,261 527 – 22,788 Deferred income taxes 8,443 – – 8,443 Right of use assets 12,328 137 – 12,465 Deferred financing costs, net 282 – – 282 Goodwill 136,253 – – 136,253 Other intangible assets, net 67,241 16,351 – 83,592 Master Settlement Agreement (MSA) escrow deposits 27,980 – – 27,980 Other assets 22,619 30 – 22,649 Investment in unrestricted subsidiaries 60,120 – (60,120 ) – Total assets $ 592,602 $ 39,624 $ (60,120 ) $ 572,106 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 7,628 $ 727 $ – $ 8,355 Accrued liabilities 31,118 1,883 – 33,001 Other current liabilities 20 – – 20 Total current liabilities 38,766 2,610 – 41,376 Notes payable and long-term debt 406,757 – – 406,757 Lease liabilities 10,593 – – 10,593 Total liabilities 456,116 2,610 – 458,726 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 134,751 37,014 (60,120 ) 111,645 Non-controlling interest 1,735 – – 1,735 Total stockholders’ equity 136,486 37,014 (60,120 ) 113,380 Total liabilities and stockholders’ equity $ 592,602 $ 39,624 $ (60,120 ) $ 572,106

Dividends and Share Repurchases

Dividends and Share Repurchases	9 Months Ended
	Sep. 30, 2023
Dividends and Share Repurchases [Abstract]
Dividends and Share Repurchases	Note 18. Dividends and Share Repurchases A dividend of $0.065 per common share was paid on October 6, 2023, to shareholders of record at the close of business on September 15, 2023. The Company currently pays a quarterly cash dividend. Dividends are considered restricted payments under the Senior Secured Notes Indenture and 2021 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 of Directors. of Directors , in each case bringing the aggregate approval back to $50.0 million.

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2023
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Description of Business and Basis of Presentation [Abstract]
Basis of Presentation	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, 2022. 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 presented. 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, 2022. 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)	9 Months Ended
	Sep. 30, 2023
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 Codification (“ASC”) 606, 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 to be 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 ASC 606 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 16, “Segment Information”. An additional disaggregation of contract revenue by sales channel can be found within Note 16 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 $5.1 million and $5.8 million for the three months ending September 30 , 2023 and 2022, respectively. Shipping costs incurred were approximately $17.0 million and $17.9 million for the nine months ending September 30, 2023 and 2022, respectively.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value using the first -in, -out (“FIFO”) method. Leaf tobacco is presented in current assets in accordance with standard industry practice, notwithstanding the fact that such tobaccos are carried longer than 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 The Compan y enters into foreign currency forwar under the provisions of ASC 815, Derivatives and Hedging. Under the Company’s policy, the Company may hedge up to 100% of its anticipated purchases of inventory in the denominated invoice currency over a forwa
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. The U.S. Food and Drug Administration 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 Creative Distribution Solutions products due to malfunctioning devices. 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 twenty-five years 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. As of September 30, 2023, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $27.5 million. At December 31, 2022, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $28.0 million. The Company discontinued its generic category of MYO in 2019 and its Zig-Zag branded MYO cigarette smoking tobacco in 2017. Thus, pending a change in MSA legislation, the Company has no remaining product lines covered by the MSA and will not be required to make future escrow deposits. 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. Fair values for the U.S. Governmental agency obligations are Level 2 in the fair value hierarchy. The following tables show cost and estimated fair value of the assets held in the MSA account, respectively, as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of September 30, 2023 As of December 31, 2022 Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Cost Losses Value Cost Losses Value Cash and cash equivalents $ 1,929 $ – $ 1,929 $ 1,929 $ – $ 1,929 U.S. Governmental agency obligations (unrealized position < 12 months) – – – 10,226 (1,251 ) 8,975 U.S. Governmental agency obligations (unrealized position > 12 months) 30,144 (4,539 ) 25,605 19,918 (2,842 ) 17,076 $ 32,073 $ (4,539 ) $ 27,534 $ 32,073 $ (4,093 ) $ 27,980 As of September 30, 2023 Less than one year $ 2,200 One to five years 10,238 Five to ten years 15,751 Greater than ten years 1,955 Total $ 30,144 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year September 30, 2023 December 31, 2022 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 82 82 Total $ 32,073 $ 32,073 FDA: On June 22, 2009, the Family Smoking Prevention and Tobacco Control Act (the “FSPTCA”) authorized the FDA to immediately regulate the manufacturing, sale, and marketing of four categories of tobacco products – cigarettes, cigarette tobacco, roll-your-own tobacco, and smokeless tobacco. On August 8, 2016, the FDA deeming regulation became effective. The deeming regulation gave the FDA the authority to also regulate cigars, pipe tobacco, e-cigarettes, vaporizers, and e-liquids as “deemed” tobacco products under the FSPTCA. The FDA currently assesses tobacco product user fees on six classes of regulated tobacco products and computes user fees using a methodology similar to the methodology used by the U.S Department of Agriculture to compute the Tobacco Transition Payment Program (“TTPP,” also known as the “Tobacco Buyout”) assessment. First, the total, annual, congressionally established user fee assessment is allocated among the various classes of tobacco products using the federal excise tax weighted market share of tobacco products subject to regulation. Then, the assessment for each class of tobacco products is divided among individual manufacturers and importers. In August 2016, the FDA’s regulatory authority under the Tobacco Control Act was extended to all tobacco products not previously covered, including: (i) certain Creative Distribution Solutions products (such as electronic cigarettes, vaporizers and e-liquids) and their components or parts (such as tanks, coils and batteries); (ii) cigars and their components or parts (such as cigar tobacco and wraps); (iii) pipe tobacco; (iv) hookah products; and (v) any other tobacco product “newly deemed” by the FDA. These “deeming regulations” apply to all products made or derived from tobacco intended for human consumption, but excluding accessories of tobacco products (such as lighters). Accordingly, the FDA has since regulated our cigar and cigar wrap products as well as our vapor products containing tobacco-derived nicotine and products intended or reasonably expected to be used to consume such e-liquids. Subsequently, on April 14, 2022, the FDA Center for Tobacco Products also obtained jurisdiction over non-tobacco nicotine products (“NTN Products”), including synthetic nicotine. That law subjects NTN Products to the same requirements as tobacco-derived products, including not selling these products to persons under 21 years of age, not marketing these products as modified risk tobacco products without authorization, and not distributing free samples of these products. Additionally, NTN Products became subject to premarket filing requirements. Under the new law, manufacturers were required to file a Premarket Tobacco Application 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. We submitted premarket filings for certain of our regulated products in order to continue selling these products while they remain under review. We have continued to supplement these applications with additional information and have responded to information requests from the FDA; however, there can be no guarantee that the FDA will accept such amendments and responses or that the applications will meet the standard of “appropriate for the protection of public health” or “substantially equivalent,” as appropriate. The FDA has indicated its enforcement priority is those applicants who have received negative action on their application, such as a Marketing Denial Order or Refuse to File notification and who continue to illegally sell those unauthorized products, as well as products for which manufacturers failed to submit a marketing application. Despite these stated enforcement priorities, given the FDA’s limited resources we expect that for a period of time there may be a lack of enforcement, which may adversely impact our ability to compete in the marketplace against those who continue to sell unauthorized products. There can be no guarantee that the FDA will not shift its enforcement priorities or that it will increase in ability to enforce against unauthorized products over time. On October 5, 2021, the FDA finalized rules related to the Substantial Equivalence process and the Premarket Tobacco Product Application process, respectively, which both became effective November 4, 2021. Both final rules (collectively, the “Rules”) indicate that any new or additional requirements will not retroactively apply to currently pending PMTAs for tobacco and tobacco-derived products; however, the information outlined in the rule remains important to the FDA’s substantive review of an application. The FDA has yet to indicate how it might apply these Rules to NTN Product filings. We believe we have products that meet the Rules and have filed premarket filings supporting a showing of the respective required standards. However, there is no assurance that the FDA’s guidance or regulations will not change, or that the FDA will not prioritize its enforcement in a manner that negatively affects our pending applications, or that unforeseen circumstances will not arise that prevent us from sufficiently supplementing or completing our applications or otherwise increases 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 generated by lower priority SKUs. In addition, we currently distribute many third-party manufactured vapor products for which we are 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 or otherwise remain in compliance with relevant legal requirements. 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. Additionally, FDA has limited resources, which may impact its ability to meaningfully enforce these provisions. This . On May 4, 2022, the FDA proposed had provide comments These proposed rules remain pending. Prevent All Cigarette Trafficking Act (“PACT Act”): On December 27, 2020, President Trump signed the Further Consolidated Appropriations Act, 2021, into law. This law included an amendment to the Jenkins Act expanding the definition of “cigarette” to include “electronic nicotine delivery systems,” or ENDS, and required that the United States Postal Service (“USPS”) promulgate regulations clarifying the applicability of the prohibition on delivery sales of cigarettes to ENDS. USPS issued its final rule on October 21, 2021. We have received appropriate shipping exemptions from carrier services we use to carry the affected freight. Failure to comply with the PACT Act could result in significant financial or criminal penalties. To the extent we are unable to respond to, or comply with, these new requirements, we could lose our shipping exemptions, be subject to civil or criminal penalties, or there could be a material adverse effect on our business, results of operations and financial condition.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Fair Value of MSA Escrow Account	The following tables show cost and estimated fair value of the assets held in the MSA account, respectively, as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of September 30, 2023 As of December 31, 2022 Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Cost Losses Value Cost Losses Value Cash and cash equivalents $ 1,929 $ – $ 1,929 $ 1,929 $ – $ 1,929 U.S. Governmental agency obligations (unrealized position < 12 months) – – – 10,226 (1,251 ) 8,975 U.S. Governmental agency obligations (unrealized position > 12 months) 30,144 (4,539 ) 25,605 19,918 (2,842 ) 17,076 $ 32,073 $ (4,539 ) $ 27,534 $ 32,073 $ (4,093 ) $ 27,980
Maturities of U.S. Governmental Agency Obligations	As of September 30, 2023 Less than one year $ 2,200 One to five years 10,238 Five to ten years 15,751 Greater than ten years 1,955 Total $ 30,144
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 September 30, 2023 December 31, 2022 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 82 82 Total $ 32,073 $ 32,073

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventories [Abstract]
Inventories	The components of inventories are as follows: September 30, December 31, 2023 2022 Raw materials and work in process $ 5,512 $ 7,283 Leaf tobacco 53,018 43,468 Finished goods - Zig-Zag Products 40,988 42,279 Finished goods - Stoker’s Products 8,729 9,667 Finished goods - Creative Distribution Solutions 7,059 15,431 Other 1,620 1,787 Inventories $ 116,926 $ 119,915

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Other Current Assets [Abstract]
Other Current Assets	Other current assets consist of: September 30, December 31, 2023 2022 Inventory deposits $ 5,357 $ 6,395 Insurance deposit 3,000 3,000 Prepaid taxes 1,675 448 Other 13,290 13,116 Total $ 23,322 $ 22,959

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant, and Equipment [Abstract]
Property, Plant, and Equipment	Property, plant, and equipment consists of: September 30, December 31, 2023 2022 Land $ 22 $ 22 Buildings and improvements 3,940 3,096 Leasehold improvements 5,252 5,404 Machinery and equipment 28,837 25,832 Furniture and fixtures 8,138 9,264 Gross property, plant and equipment 46,189 43,618 Accumulated depreciation (21,576 ) (20,830 ) Net property, plant and equipment $ 24,613 $ 22,788

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Other Assets [Abstract]
Other Assets	Other assets consist of: September 30, December 31, 2023 2022 Equity investments $ 2,421 $ 13,376 Debt security investment 7,765 7,820 Other 6,340 1,453 Total $ 16,526 $ 22,649

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued liabilities consist of: September 30, December 31, 2023 2022 Accrued payroll and related items $ 6,299 $ 7,685 Customer returns and allowances 6,384 7,291 Taxes payable 1,259 1,867 Lease liabilities 2,809 3,102 Accrued interest 2,507 7,277 Other 7,969 5,779 Total $ 27,227 $ 33,001

Notes Payable and Long-Term D_2

Notes Payable and Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
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: September 30, December 31, 2023 2022 Senior Secured Notes $ 250,000 $ 250,000 Convertible Senior Notes 118,541 162,500 Gross notes payable and long-term debt 368,541 412,500 Less deferred finance charges (3,720 ) (5,743 ) Less current maturities (48,248 ) – Notes payable and long-term debt $ 316,573 $ 406,757
Redemption Prices of Senior Secured Notes	The Company may redeem the Senior Secured Notes, in whole or in part, at any time on or after February 15, 2023, at the redemption prices (expressed as a percentage of the principal amount to be redeemed) set forth below, plus accrued and unpaid interest, if any, on the Senior Secured Notes to be redeemed to (but not including) the applicable redemption date if redeemed during the period indicated below: On or after February 15, 2023 102.813 % On or after February 15, 2024 101.406 % On or after February 15, 2025 and thereafter 100.000 %
Interest Rate Margins	Amounts borrowed under the 2023 ABL Facility are subject to an interest rate per annum equal to Level Historical Excess Availability Applicable Margin for SOFR Loans Applicable Margin for Base Rate Loans I Greater than or equal to 66.66% 1.75% 0.75% II Less than 66.66%, but greater than or equal to 33.33% 2.00% 1.00% III Less than 33.33% 2.25% 1.25%

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Components of Lease Expense	The components of lease expense consisted of the following: Three Months Ended September 30, 2023 2022 Operating lease cost Cost of sales $ 125 $ 240 Selling, general and administrative 496 348 Variable lease cost (1) 301 235 Short-term lease cost 7 6 Total $ 929 $ 829 (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.
Amounts Related to Operating and Financing Leases	Three Months Ended September 30, 2023 2022 Financing lease cost Selling, general and administrative $ 397 $ 332 Total $ 397 $ 332 Nine Months Ended September 30, 2023 2022 Operating lease cost Cost of sales $ 382 $ 700 Selling, general and administrative 1,520 1,133 Variable lease cost (1) 933 558 Short-term lease cost 20 31 Total $ 2,855 $ 2,422 Nine Months Ended September 30, 2023 2022 Financing lease cost Selling, general and administrative $ 1,083 $ 920 Total $ 1,083 $ 920 September 30, December 31, 2023 2022 Assets: Right of use assets - Operating $ 10,332 $ 10,967 Right of use assets - Financing 1,728 1,498 Total lease assets $ 12,060 $ 12,465 Liabilities: Current lease liabilities - Operating $ 1,717 $ 2,007 Current lease liabilities - Financing 1,092 1,095 Long-term lease liabilities - Operating 9,854 10,243 Long-term lease liabilities - Financing 579 350 Total lease liabilities $ 13,242 $ 13,695 (2) Reported within accrued liabilities on the balance sheets.

Share Incentive Plans (Tables)

Share Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Share Incentive Plans [Abstract]
Stock Option Activity	Stock option activity for the 2006, 2015 and 2021 Plans is summarized below: Weighted Weighted Stock Average Average Option Exercise Grant Date Shares Price Fair Value Outstanding, December 31, 2021 619,835 $ 28.51 $ 8.70 Granted 114,827 30.58 10.34 Exercised (40,331 ) 12.49 4.08 Forfeited (11,117 ) 32.60 9.35 Outstanding, December 31, 2022 683,214 $ 29.74 $ 9.24 Granted 77,519 20.71 6.45 Exercised (30,214 ) 13.87 4.37 Forfeited (65,214 ) 27.38 9.11 Outstanding, September 30 2023 665,305 $ 29.67 $ 9.14
Assumptions for Options Granted Under 2015 and 2021 Plan	The following table outlines the assumptions based on the number of options granted under the 2015 Plan. February 10, May 17, March 7, March 20, October 24, March 18, February 18, May 3, 2017 2017 2018 2019 2019 2020 2021 2021 Number of options granted 40,000 93,819 98,100 155,780 25,000 155,000 100,000 12,000 Options outstanding at September 30 2023 20,000 39,983 51,567 125,834 25,000 80,975 90,253 12,000 Number exercisable at September 30 2023 20,000 39,983 51,567 125,834 25,000 80,975 63,727 8,040 Exercise price $ 13.00 $ 15.41 $ 21.21 $ 47.58 $ 20.89 $ 14.85 $ 51.75 $ 47.76 Remaining lives 3.37 3.63 4.44 5.47 6.07 6.47 7.39 7.59 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.34 % 1.58 % 0.79 % 0.56 % 0.84 % Expected volatility 27.44 % 26.92 % 28.76 % 30.95 % 31.93 % 35.72 % 28.69 % 29.03 % Expected life 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 Dividend yield – – 0.83 % 0.42 % 0.95 % 1.49 % 0.55 % 0.59 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 15.63 $ 6.27 $ 4.41 $ 13.77 $ 13.06 The following table outlines the assumptions based on the number of options granted under the 2021 Plan. May 17, March 14, April 29, May 12 2021 2022 2022 2023 Number of options granted 7,500 100,000 14,827 77,519 Options outstanding at September 30 2023 7,500 73,023 14,827 77,519 Number exercisable at September 30 2023 5,100 24,995 5,042 58,139 Exercise price $ 45.05 $ 30.46 $ 31.39 $ 20.71 Remaining lives 7.63 8.46 8.59 9.62 Risk free interest rate 0.84 % 2.10 % 2.92 % 3.41 % Expected volatility 31.50 % 35.33 % 35.33 % 34.51 % Expected life 6.000 6.000 6.000 5.186 Dividend yield 0.63 % 1.01 % 0.98 % 1.61 % Fair value at grant date $ 13.23 $ 10.23 $ 11.07 $ 6.45
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 five-year 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 September 30, 2023 there are PRSUs outstanding. The following table outlines the PRSUs granted and outstanding as of September 30, 2023 . March 20, March 18, December 28, February 18, March 14, May 4, 2019 2020 2020 2021 2022 2023 Number of PRSUs granted 92,500 94,000 88,169 100,000 49,996 133,577 PRSUs outstanding at September 30 2023 77,080 84,360 31,040 87,340 43,525 133,577 Fair value as of grant date $ 47.58 $ 14.85 $ 46.42 $ 51.75 $ 30.46 $ 22.25 Remaining lives 0.25 1.25 0.25 2.25 3.25 2.50
RSU Activity	The Company has granted 228,640 RSUs which are outstanding and vest over one September 30, 2023 March 14, March 14, April 29, May 5, May 5, May 8, 2022 2022 2022 2023 2023 2023 Number of RSUs granted 50,004 28,726 4,522 130,873 22,472 20,101 RSUs outstanding at September 30, 2023 42,947 18,961 4,522 130,873 11,236 20,101 Fair value as of grant date $ 30.46 $ 30.46 $ 31.39 $ 22.25 $ 22.25 $ 21.77 Remaining lives 3.25 1.25 3.25 2.50 0.25 0.60

Income Per Share (Tables)

Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 2022 Per Per Income Shares Share Income Shares Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 10,831 $ 11,536 Denominator Weighted average 17,595,980 $ 0.62 17,749,294 $ 0.65 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 10,831 $ 11,536 Interest expense related to Convertible Senior Notes, net of tax 743 1,054 Diluted net income attributable to Turning Point Brands. Inc. $ 11,574 $ 12,590 Denominator Basic weighted average 17,595,980 17,749,294 Convertible Senior Notes 2,311,086 3,213,589 Stock options and restricted stock units 191,384 139,123 20,098,450 $ 0.58 21,102,006 $ 0.60 Nine Months Ended September 30, 2023 2022 Per Per Income Shares Share Income Shares Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 28,353 $ 27,958 Denominator Weighted average 17,569,493 $ 1.61 18,021,554 $ 1.55 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 28,353 $ 27,958 Interest expense related to Convertible Senior Notes 2,546 3,162 Diluted net income attributable to Turning Point Brands. Inc. $ 30,899 $ 31,120 Denominator Basic weighted average 17,569,493 18,021,554 Convertible Senior Notes 2,637,252 3,213,589 Stock options and restricted stock units 209,041 166,342 20,415,786 $ 1.51 21,401,485 $ 1.45

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Information [Abstract]
Financial Information of Reportable Segments	The tables below present financial information about reported segments: Three Months Ended September 30, 2023 2022 Net sales Zig-Zag products $ 46,754 $ 52,061 Stoker’s products 36,916 33,525 Total Zig-Zag and Stoker’s products $ 83,670 $ 85,586 Creative Distribution Solutions 18,052 22,216 Total $ 101,722 $ 107,802 Gross profit Zig-Zag products $ 26,745 $ 28,035 Stoker’s products 20,572 18,279 Total Zig-Zag and Stoker’s products $ 47,317 $ 46,314 Creative Distribution Solutions 4,305 6,398 Total $ 51,622 $ 52,712 Operating income (loss) Zig-Zag products $ 16,672 $ 18,740 Stoker’s products 15,703 13,653 Corporate unallocated (1)(2) (11,678 ) (12,714 ) Total Zig-Zag and Stoker’s products $ 20,697 $ 19,679 Creative Distribution Solutions (460 ) 142 Total $ 20,237 $ 19,821 Interest expense, net 3,984 4,802 Investment loss 2,101 (75 ) Gain on extinguishment of debt (481 ) – Income before income taxes $ 14,633 $ 15,094 Capital expenditures Zig-Zag products $ 3 $ 29 Stoker’s products 1,211 940 Total Zig-Zag and Stoker’s products $ 1,214 $ 969 Creative Distribution Solutions – – Total $ 1,214 $ 969 Depreciation and amortization Zig-Zag products $ 269 $ 124 Stoker’s products 795 738 Total Zig-Zag and Stoker’s products $ 1,064 $ 862 Creative Distribution Solutions 562 453 Total $ 1,626 $ 1,315 (1) Includes corporate costs that are not allocated to any of the three reportable segments. (2) Includes costs related to PMTA of $0.3 million in 2023 and $1.2 million in 2022. Nine Months Ended September 30, 2023 2022 Net sales Zig-Zag products $ 135,363 $ 143,959 Stoker’s products 106,634 98,816 Total Zig-Zag and Stoker’s products $ 241,997 $ 242,775 Creative Distribution Solutions 66,276 68,846 Total $ 308,273 $ 311,621 Gross profit Zig-Zag products $ 75,557 $ 80,808 Stoker’s products 60,005 54,044 Total Zig-Zag and Stoker’s products $ 135,562 $ 134,852 Creative Distribution Solutions 17,155 21,123 Total $ 152,717 $ 155,975 Operating income (loss) Zig-Zag products $ 47,313 $ 55,980 Stoker’s products 45,375 40,536 Corporate unallocated (1)(2) (34,325 ) (40,692 ) Total Zig-Zag and Stoker’s products $ 58,363 $ 55,824 Creative Distribution Solutions 261 1,372 Total $ 58,624 $ 57,196 Interest expense, net 12,013 15,142 Investment loss 10,980 6,074 Gain on extinguishment of debt (1,858 ) – Income before income taxes $ 37,489 $ 35,980 Capital expenditures Zig-Zag products $ 1,088 $ 4,588 Stoker’s products 3,118 2,074 Total Zig-Zag and Stoker’s products $ 4,206 $ 6,662 Creative Distribution Solutions – – Total $ 4,206 $ 6,662 Depreciation and amortization Zig-Zag products $ 803 $ 309 Stoker’s products 2,210 2,275 Total Zig-Zag and Stoker’s products $ 3,013 $ 2,584 Creative Distribution Solutions 1,690 1,400 Total $ 4,703 $ 3,984 (1) Includes corporate costs that are not allocated to any of the three reportable segments. (2) Includes costs related to PMTA of $ 1.1 million in 2023 and $4.3 million in 2022. September 30, December 31, 2023 2022 Assets Zig-Zag products $ 176,975 $ 225,893 Stoker’s products 175,566 151,241 Corporate unallocated (1) 172,294 155,348 Total Zig-Zag and Stoker’s products $ 524,835 $ 532,482 Creative Distribution Solutions 29,108 39,624 Total $ 553,943 $ 572,106 (1) Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments.
Revenue Disaggregation - Sales Channel	Revenues of the Zig-Zag Products and Stoker’s Products segments are primarily comprised of sales made to wholesalers while Creative Distribution Solutions sales are made business to business and business to consumer, both online and through our corporate retail stores. Creative Distribution Solutions net sales are broken out by sales channel below. Creative Distribution Solutions Segment Three Months Ended September 30, 2023 2022 Business to Business $ 16,089 $ 18,226 Business to Consumer - Online 1,912 3,884 Other 51 106 Total $ 18,052 $ 22,216 Creative Distribution Solutions Segment Nine Months Ended September 30, 2023 2022 Business to Business $ 58,620 $ 55,024 Business to Consumer - Online 7,247 13,453 Other 409 369 Total $ 66,276 $ 68,846
Net Sales - Domestic and Foreign	The following table shows a breakdown of consolidated net sales between domestic and foreign customers. Three Months Ended September 30, 2023 2022 Domestic $ 93,533 $ 98,173 Foreign 8,189 9,629 Total $ 101,722 $ 107,802 Nine Months Ended September 30, 2023 2022 Domestic $ 285,514 $ 287,381 Foreign 22,759 24,240 Total $ 308,273 $ 311,621

Additional Information with R_2

Additional Information with Respect to Unrestricted Subsidiary (Tables)	9 Months Ended
	Sep. 30, 2023
Additional Information with Respect to Unrestricted Subsidiary [Abstract]
Income Statements	Income Statement for the Three Months Ended September 30, 2023 and 2022 (unaudited): Three Months Ended September 30 2023 2022 Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Net sales $ 83,670 $ 18,052 $ 101,722 $ 85,586 $ 22,216 $ 107,802 Cost of sales 36,353 13,747 50,100 39,272 15,818 55,090 Gross profit 47,317 4,305 51,622 46,314 6,398 52,712 Selling, general, and administrative expenses 26,620 4,765 31,385 26,635 6,256 32,891 Operating income 20,697 (460 ) 20,237 19,679 142 19,821 Interest expense, net 3,984 – 3,984 4,802 – 4,802 Investment loss 2,101 – 2,101 (75 ) – (75 ) Gain on extinguishment of debt (481 ) – (481 ) – – – Income before income taxes 15,093 (460 ) 14,633 14,952 142 15,094 Income tax expense 3,885 (118 ) 3,767 3,761 36 3,797 Consolidated net income 11,208 (342 ) 10,866 11,191 106 11,297 Net loss attributable to non-controlling interest 35 – 35 (239 ) – (239 ) Net income attributable to Turning Point Brands, Inc. $ 11,173 $ (342 ) $ 10,831 $ 11,430 $ 106 $ 11,536 Income Statement for the Nine Months Ended September 30, 2023 and 2022 (unaudited): Nine Months Ended September 30 2023 2022 Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Net sales $ 241,997 $ 66,276 $ 308,273 $ 242,775 $ 68,846 $ 311,621 Cost of sales 106,435 49,121 155,556 107,923 47,723 155,646 Gross profit 135,562 17,155 152,717 134,852 21,123 155,975 Selling, general, and administrative expenses 77,199 16,894 94,093 79,028 19,751 98,779 Operating income 58,363 261 58,624 55,824 1,372 57,196 Interest expense, net 12,013 – 12,013 15,142 – 15,142 Investment loss 10,980 – 10,980 6,074 – 6,074 Gain on extinguishment of debt (1,858 ) – (1,858 ) – – – Income before income taxes 37,228 261 37,489 34,608 1,372 35,980 Income tax expense 9,506 67 9,573 8,374 332 8,706 Consolidated net income 27,722 194 27,916 26,234 1,040 27,274 Net loss attributable to non-controlling interest (437 ) – (437 ) (684 ) – (684 ) Net income attributable to Turning Point Brands, Inc. $ 28,159 $ 194 $ 28,353 $ 26,918 $ 1,040 $ 27,958
Balance Sheets	Balance Sheet as of September 30, 2023 (unaudited): ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 92,353 $ 3,718 $ – $ 96,071 Accounts receivable, net 10,363 130 – 10,493 Inventories 109,867 7,059 – 116,926 Other current assets 20,417 2,905 – 23,322 Total current assets 233,000 13,812 – 246,812 Property, plant, and equipment, net 24,382 231 – 24,613 Deferred income taxes 8,190 – – 8,190 Right of use assets 11,922 138 – 12,060 Deferred financing costs, net 203 – – 203 Goodwill 136,280 – – 136,280 Other intangible assets, net 66,798 14,927 – 81,725 Master Settlement Agreement (MSA) escrow deposits 27,534 – – 27,534 Other assets 16,526 – – 16,526 Investment in unrestricted subsidiaries 49,047 – (49,047 ) – Total assets $ 573,882 $ 29,108 $ (49,047 ) $ 553,943 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 10,305 $ 932 $ – $ 11,237 Accrued liabilities 25,243 1,984 – 27,227 Current portion of long-term debt 48,248 – – 48,248 Other current liabilities 6 – – 6 Total current liabilities 83,802 2,916 – 86,718 Notes payable and long-term debt 316,573 – – 316,573 Lease liabilities 10,363 70 – 10,433 Total liabilities 410,738 2,986 – 413,724 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 161,836 26,122 (49,047 ) 138,911 Non-controlling interest 1,308 – – 1,308 Total stockholders’ equity 163,144 26,122 (49,047 ) 140,219 Total liabilities and stockholders’ equity $ 573,882 $ 29,108 $ (49,047 ) $ 553,943 Balance Sheet as of December 31, 2022: ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 103,990 $ 2,413 $ – $ 106,403 Accounts receivable, net 7,374 1,003 – 8,377 Inventories 104,883 15,032 – 119,915 Other current assets 18,828 4,131 – 22,959 Total current assets 235,075 22,579 – 257,654 Property, plant, and equipment, net 22,261 527 – 22,788 Deferred income taxes 8,443 – – 8,443 Right of use assets 12,328 137 – 12,465 Deferred financing costs, net 282 – – 282 Goodwill 136,253 – – 136,253 Other intangible assets, net 67,241 16,351 – 83,592 Master Settlement Agreement (MSA) escrow deposits 27,980 – – 27,980 Other assets 22,619 30 – 22,649 Investment in unrestricted subsidiaries 60,120 – (60,120 ) – Total assets $ 592,602 $ 39,624 $ (60,120 ) $ 572,106 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 7,628 $ 727 $ – $ 8,355 Accrued liabilities 31,118 1,883 – 33,001 Other current liabilities 20 – – 20 Total current liabilities 38,766 2,610 – 41,376 Notes payable and long-term debt 406,757 – – 406,757 Lease liabilities 10,593 – – 10,593 Total liabilities 456,116 2,610 – 458,726 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 134,751 37,014 (60,120 ) 111,645 Non-controlling interest 1,735 – – 1,735 Total stockholders’ equity 136,486 37,014 (60,120 ) 113,380 Total liabilities and stockholders’ equity $ 592,602 $ 39,624 $ (60,120 ) $ 572,106

Description of Business and B_3

Description of Business and Basis of Presentation (Details) Outlet in Thousands	9 Months Ended
	Sep. 30, 2023 Segment Outlet
Description of Business and Basis of Presentation [Abstract]
Number of reportable segments | Segment	3
Number of retail outlets in North America | Outlet	217

Summary of Significant Accoun_4

Summary of Significant Accounting Policies, Shipping Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Shipping Costs [Abstract]
Shipping costs	$ 5.1	$ 5.8	$ 17	$ 17.9

Summary of Significant Accoun_5

Summary of Significant Accounting Policies, Derivative Instruments (Details) - Maximum [Member]	9 Months Ended
	Sep. 30, 2023
Derivative Instruments [Abstract]
Percentage of anticipated purchases of inventory that may be hedged	100%
Term of hedge	12 months
Percentage of non-inventory purchases that may be hedged	100%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies, Master Settlement Agreement (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Master Settlement Agreement [Abstract]
Term for restricted withdrawal of principal from MSA escrow account	25 years
Fair Value of MSA Escrow Account, More than 12 Months [Abstract]
Estimated fair value, more than 12 months	$ 7,765	$ 7,820
Fair Value of MSA Escrow Account [Abstract]
Cost	32,073	32,073
Gross unrealized losses	(4,539)	(4,093)
Estimated fair value	27,534	27,980
Maturities of U.S. Governmental Agency Obligations [Abstract]
Less than one year	2,200
One to five years	10,238
Five to ten years	15,751
Greater than ten years	1,955
Total	30,144
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	82	82
Total	32,073	32,073
Cash and Cash Equivalents [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	1,929	1,929
Gross unrealized losses	0	0
Estimated fair value	1,929	1,929
U.S. Governmental Agency Obligations [Member]
Fair Value of MSA Escrow Account, Less than 12 Months [Abstract]
Cost, less than 12 months	0	10,226
Gross unrealized losses, less than 12 months	0	(1,251)
Estimated fair value, less than 12 months	0	8,975
Fair Value of MSA Escrow Account, More than 12 Months [Abstract]
Cost, more than 12 months	30,144	19,918
Gross unrealized losses, more than 12 months	(4,539)	(2,842)
Estimated fair value, more than 12 months	$ 25,605	$ 17,076

Summary of Significant Accoun_7

Summary of Significant Accounting Policies, Food and Drug Administration (Details)	9 Months Ended
	Sep. 30, 2023 Standard Class Category	Oct. 05, 2021 Rule
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 rules finalized by the FDA | Rule		2
Number of proposed tobacco product standards related to combusted tobacco products | Standard	2

Derivative Instruments (Details

Derivative Instruments (Details) - Foreign Currency [Member] € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)
Other Current Assets [Member]
Derivative Instruments [Abstract]
Fair value, asset | $		$ 0.1		$ 1.2
Accrued Liabilities [Member]
Derivative Instruments [Abstract]
Fair value, liability | $		$ 0.5		$ 0
Purchase [Member]
Derivative Instruments [Abstract]
Notional amount of contracts executed	€ 20.1
Notional amount	17.1		€ 18.5
Sale [Member]
Derivative Instruments [Abstract]
Notional amount of contracts executed	15.2
Notional amount	€ 15.2		€ 18.5

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value of Financial Instruments [Abstract]
Carrying value of long-term debt	$ 368,541	$ 412,500
Senior Secured Notes [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	5.625%
Fair value of long-term debt	$ 226,700	226,400
Carrying value of long-term debt	$ 250,000	250,000
Convertible Senior Notes [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	2.50%
Carrying value of long-term debt	$ 118,541	162,500
Fair Value [Member] | Convertible Senior Notes [Member]
Fair Value of Financial Instruments [Abstract]
Fair value of long-term debt	$ 112,400	$ 139,200

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventories [Abstract]
Raw materials and work in process	$ 5,512	$ 7,283
Leaf tobacco	53,018	43,468
Other	1,620	1,787
Inventories	116,926	119,915
Inventory valuation allowance	4,100	4,500
Zig-Zag Products [Member]
Inventories [Abstract]
Finished goods	40,988	42,279
Stoker's Products [Member]
Inventories [Abstract]
Finished goods	8,729	9,667
Creative Distribution Solutions [Member]
Inventories [Abstract]
Finished goods	$ 7,059	$ 15,431

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Current Assets [Abstract]
Inventory deposits	$ 5,357	$ 6,395
Insurance deposit	3,000	3,000
Prepaid taxes	1,675	448
Other	13,290	13,116
Total	$ 23,322	$ 22,959

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	$ 46,189	$ 43,618
Accumulated depreciation	(21,576)	(20,830)
Net property, plant and equipment	24,613	22,788
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	3,940	3,096
Leasehold Improvements [Member]
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	5,252	5,404
Machinery and Equipment [Member]
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	28,837	25,832
Furniture and Fixtures [Member]
Property, Plant, and Equipment [Abstract]
Property, plant and equipment	$ 8,138	$ 9,264

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended			9 Months Ended		12 Months Ended
	Jul. 31, 2022	Jul. 31, 2021	Apr. 30, 2021	Oct. 31, 2020	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Other Assets [Abstract]
Equity investments					$ 2,421			$ 2,421		$ 13,376
Debt security investment					7,765			7,765		7,820
Other					6,340			6,340		1,453
Total					16,526			16,526		22,649
Payment for investment								200	$ 1,000
Wild Hempettes [Member]
Other Assets [Abstract]
Payment for investment				$ 2,500
Ownership interest				20%
Percentage interest that can be acquired				100%
Impairment charge					2,200			2,200
Fair value of investment					$ 300			$ 300
dosist [Member]
Other Assets [Abstract]
Payment for investment				$ 15,000
Gain (loss) on investment									$ (6,300)
Additional investment that can be made				$ 15,000
Period to make additional investment								12 months
Fair value of investment										1,600	$ 1,600	$ 7,900
Old Pal Holding Company LLC [Member]
Other Assets [Abstract]
Debt security investment	$ 9,200
Payment for investment	1,000	$ 8,000
Interest rate					3%			3%
Extension period for maturity date								1 year
Weighted average interest rate					3%			3%
Allowance for credit losses								$ 300		1,400
Accrued interest receivable	$ 200
Old Pal Holding Company LLC [Member] | Other Current Assets [Member]
Other Assets [Abstract]
Accrued interest receivable					$ 100			100		100
Old Pal Holding Company LLC [Member] | Level 3 [Member]
Other Assets [Abstract]
Debt security investment					$ 7,700			$ 7,700		$ 7,900
Docklight Brands, Inc. [Member]
Other Assets [Abstract]
Equity investments						$ 0	$ 3,800
Payment for investment			$ 8,700
Gain (loss) on investment						$ (3,800)	$ (4,900)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accrued Liabilities [Abstract]
Accrued payroll and related items	$ 6,299	$ 7,685
Customer returns and allowances	6,384	7,291
Taxes payable	1,259	1,867
Lease liabilities	2,809	3,102
Accrued interest	2,507	7,277
Other	7,969	5,779
Total	$ 27,227	$ 33,001

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	Sep. 30, 2023	Dec. 31, 2022
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	$ 368,541	$ 412,500
Less deferred finance charges	(3,720)	(5,743)
Less current maturities	(48,248)	0
Net notes payable and long-term debt	316,573	406,757
Senior Secured Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	250,000	250,000
Convertible Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	$ 118,541	$ 162,500

Notes Payable and Long-Term D_4

Notes Payable and Long-Term Debt, Senior Secured Notes (Details) - Senior Secured Notes [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Feb. 11, 2021
Notes Payable and Long-Term Debt [Abstract]
Face amount		$ 250
Interest rate	5.625%
Maturity date	Feb. 15, 2026
Guarantee threshold amount for obligations	$ 15
Redemption price (expressed as a percentage of the principal amount to be redeemed) if the Company experiences a change in control	101%
Debt issuance costs		$ 6.4
On or after February 15, 2023 [Member]
Notes Payable and Long-Term Debt [Abstract]
Redemption price (expressed as a percentage of the principal amount to be redeemed)	102.813%
On or after February 15, 2024 [Member]
Notes Payable and Long-Term Debt [Abstract]
Redemption price (expressed as a percentage of the principal amount to be redeemed)	101.406%
On or after February 15, 2025 and thereafter [Member]
Notes Payable and Long-Term Debt [Abstract]
Redemption price (expressed as a percentage of the principal amount to be redeemed)	100%

Notes Payable and Long-Term D_5

Notes Payable and Long-Term Debt, 2021 Revolving Credit Facility (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)	Mar. 31, 2023	Dec. 31, 2022	Feb. 11, 2021 USD ($)
Amended 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	$ 1.4
Maturity date	Aug. 11, 2025
Period prior to maturity date of Convertible Senior Notes	91 days
Consolidated Leverage Ratio		5.25	5.5
Exclusion threshold for letters of credit	$ 5
Threshold percentage of total commitments outstanding	35%
Debt issuance costs	$ 0.5
Amended Revolving Credit Facility [Member] | Eurodollar [Member]
Notes Payable and Long-Term Debt [Abstract]
Margin on variable rate	3.50%
Amended Revolving Credit Facility [Member] | SOFR [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, 2023 ABL Facility (Details) - Subsequent Event [Member] $ in Millions	Nov. 07, 2023 USD ($) qtr
2023 ABL Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity	$ 75
Accordion feature	$ 40
Percentage used in calculation of borrowing base	85%
Percentage used in calculation of LILO borrowing base	10%
Fixed charge coverage ratio	1
Number of consecutive quarters to maintain minimum fixed charge coverage ratio | qtr	4
Percentage of line cap	12.50%
Threshold excess availability	$ 9.4
Period to maintain excess availability	30 days
Period prior to maturity date of any material debt outstanding	91 days
Excess availability threshhold	$ 15
2023 ABL Facility [Member] | Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Historical excess availability threshold	33.33%
2023 ABL Facility [Member] | Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Historical excess availability threshold	66.66%
SOFR Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	2.25%
Applicable margin on variable rate, Level I	1.75%
Applicable margin on variable rate, Level II	2%
Applicable margin on variable rate, Level III	2.25%
Base Rate Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	1.25%
Applicable margin on variable rate, Level I	0.75%
Applicable margin on variable rate, Level II	1%
Applicable margin on variable rate, Level III	1.25%
LILO Loans that are Base Rate Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	2.25%
LILO Loans that are SOFR Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	3.25%

Notes Payable and Long-Term D_7

Notes Payable and Long-Term Debt, Convertible Senior Notes (Details)	1 Months Ended	3 Months Ended					9 Months Ended
	Jul. 31, 2019 USD ($)	Sep. 30, 2023 USD ($) $ / shares	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) shares $ / shares	Sep. 30, 2022 USD ($)	Nov. 07, 2023 USD ($)
Notes Payable and Long-Term Debt [Abstract]
Gain on extinguishment of debt		$ 481,000				$ 0	$ 1,858,000	$ 0
Outstanding principal amount		368,541,000			$ 412,500,000		368,541,000
Current portion of long-term debt		48,248,000			0		48,248,000
Notes payable and long-term debt		$ 316,573,000			406,757,000		$ 316,573,000
Strike price (in dollars per share) | $ / shares		53.49					53.49
Cap price (in dollars per share) | $ / shares		82.86					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%					2.50%
Maturity date							Jul. 15, 2024
Principal amount of convertible debt repurchased		$ 15,000,000	$ 15,100,000	$ 13,900,000	10,000,000		$ 15,000,000
Gain on extinguishment of debt		600,000	$ 600,000	$ 700,000	900,000
Outstanding principal amount		$ 118,541,000			$ 162,500,000		$ 118,541,000
Shares issued upon conversion (in shares) | shares							2,216,029
Conversion rate							18.6942
Principal amount of notes to be converted							$ 1,000
Conversion price (in dollars per share) | $ / shares		$ 53.49					$ 53.49
Pre-determined threshold value for adjusting conversion price as a result of dividends paid (in dollars per share) | $ / shares							$ 0.04
Notes payable, current		$ 118,500,000					$ 118,500,000
Debt issuance costs	$ 5,900,000
Convertible Senior Notes [Member] | Reclassification [Member]
Notes Payable and Long-Term Debt [Abstract]
Current portion of long-term debt		(70,000,000)					(70,000,000)
Notes payable and long-term debt		$ 70,000,000					$ 70,000,000
Convertible Senior Notes [Member] | Subsequent Event [Member]
Notes Payable and Long-Term Debt [Abstract]
Notes to be refinanced									$ 75,000,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Operating Lease Cost [Abstract]
Variable lease cost	[1]	$ 301	$ 235	$ 933	$ 558
Short-term lease cost		7	6	20	31
Total operating lease cost		929	829	2,855	2,422
Financing Lease Cost [Abstract]
Financing lease cost		397	332	1,083	920
Assets [Abstract]
Right of use assets - Operating		$ 10,332		$ 10,332		$ 10,967
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Total lease assets		Total lease assets		Total lease assets
Right of use assets - Financing		$ 1,728		$ 1,728		$ 1,498
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Total lease assets		Total lease assets		Total lease assets
Total lease assets		$ 12,060		$ 12,060		$ 12,465
Liabilities [Abstract]
Current lease liabilities - Operating	[2]	$ 1,717		$ 1,717		$ 2,007
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accrued Liabilities, Current		Accrued Liabilities, Current		Accrued Liabilities, Current
Current lease liabilities - Financing	[2]	$ 1,092		$ 1,092		$ 1,095
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current		Accrued Liabilities, Current		Accrued Liabilities, Current
Long-term lease liabilities - Operating		$ 9,854		$ 9,854		$ 10,243
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Operating and Finance Lease, Liability, Noncurrent		Operating and Finance Lease, Liability, Noncurrent		Operating and Finance Lease, Liability, Noncurrent
Long-term lease liabilities - Financing		$ 579		$ 579		$ 350
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Operating and Finance Lease, Liability, Noncurrent		Operating and Finance Lease, Liability, Noncurrent		Operating and Finance Lease, Liability, Noncurrent
Total lease liabilities		$ 13,242		$ 13,242		$ 13,695
Cost of Sales [Member]
Operating Lease Cost [Abstract]
Operating lease cost		125	240	382	700
Selling, General and Administrative [Member]
Operating Lease Cost [Abstract]
Operating lease cost		496	348	1,520	1,133
Financing Lease Cost [Abstract]
Financing lease cost		$ 397	$ 332	$ 1,083	$ 920
[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 sheets.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Taxes [Abstract]
Effective income tax rate	25.70%	25.20%	25.50%	24.20%
Income tax deduction related to exercise of stock options		$ 0		$ 0.7

Share Incentive Plans, Equity I

Share Incentive Plans, Equity Incentive Plans (Details) - shares	Sep. 30, 2023	Mar. 22, 2021	Apr. 28, 2016
RSUs [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	228,640
2021 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)		1,290,000
Number of shares available for grant (in shares)	965,877
2021 Plan [Member] | RSUs [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	276,484
2021 Plan [Member] | Stock Options [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	118,519
2021 Plan [Member] | Performance-Based Restricted Stock Units [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	29,172
2015 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)		100,052	1,400,000
Number of shares available for grant (in shares)	0
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, 2015 and 2021 Plans [Member] - Stock Options [Member] - USD ($) $ / shares in Units, $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Stock Option Shares [Roll Forward]
Outstanding, beginning balance (in shares)	683,214	619,835	619,835
Granted (in shares)	77,519		114,827
Exercised (in shares)	(30,214)		(40,331)
Forfeited (in shares)	(65,214)		(11,117)
Outstanding, ending balance (in shares)	665,305		683,214
Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 29.74	$ 28.51	$ 28.51
Granted (in dollars per share)	20.71		30.58
Exercised (in dollars per share)	13.87		12.49
Forfeited (in dollars per share)	27.38		32.6
Outstanding, ending balance (in dollars per share)	29.67		29.74
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)	9.24	$ 8.7	8.7
Granted (in dollars per share)	6.45		10.34
Exercised (in dollars per share)	4.37		4.08
Forfeited (in dollars per share)	9.11		9.35
Outstanding, ending balance (in dollars per share)	$ 9.14		$ 9.24
Intrinsic value of options exercised	$ 0.2	$ 0.7

Share Incentive Plans, Assumpti

Share Incentive Plans, Assumptions for Options Granted Under 2006 Plan (Details) - 2006 Plan [Member] - Stock Options [Member] - Exercise Price $3.83 [Member]	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share Incentive Plans [Abstract]
Number of options (in shares) | shares	46,824
Exercise price (in dollars per share)	$ 3.83
Number of options exercisable (in shares) | shares	46,824
Remaining lives	10 months 6 days
Expected life	10 years
Exercise price (in dollars per share)	$ 3.83
Risk free interest rate	3.57%
Expected volatility	40%
Dividend yield	0%
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									9 Months Ended
	May 03, 2021	Feb. 18, 2021	Mar. 18, 2020	Oct. 24, 2019	Mar. 20, 2019	Mar. 07, 2018	May 17, 2017	Feb. 10, 2017	Sep. 30, 2023
February 10, 2017 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)								40,000
Options outstanding (in shares)									20,000
Number exercisable (in shares)									20,000
Exercise price (in dollars per share)									$ 13
Remaining lives									3 years 4 months 13 days
Risk free interest rate									1.89%
Expected volatility									27.44%
Expected life									6 years
Dividend yield									0%
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)									39,983
Number exercisable (in shares)									39,983
Exercise price (in dollars per share)									$ 15.41
Remaining lives									3 years 7 months 17 days
Risk free interest rate									1.76%
Expected volatility									26.92%
Expected life									6 years
Dividend yield									0%
Fair value at grant date (in dollars per share)									$ 4.6
March 7, 2018 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)						98,100
Options outstanding (in shares)									51,567
Number exercisable (in shares)									51,567
Exercise price (in dollars per share)									$ 21.21
Remaining lives									4 years 5 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 20, 2019 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)					155,780
Options outstanding (in shares)									125,834
Number exercisable (in shares)									125,834
Exercise price (in dollars per share)									$ 47.58
Remaining lives									5 years 5 months 19 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)									25,000
Exercise price (in dollars per share)									$ 20.89
Remaining lives									6 years 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)									80,975
Number exercisable (in shares)									80,975
Exercise price (in dollars per share)									$ 14.85
Remaining lives									6 years 5 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)									90,253
Number exercisable (in shares)									63,727
Exercise price (in dollars per share)									$ 51.75
Remaining lives									7 years 4 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
May 3, 2021 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)	12,000
Options outstanding (in shares)									12,000
Number exercisable (in shares)									8,040
Exercise price (in dollars per share)									$ 47.76
Remaining lives									7 years 7 months 2 days
Risk free interest rate									0.84%
Expected volatility									29.03%
Expected life									6 years
Dividend yield									0.59%
Fair value at grant date (in dollars per share)									$ 13.06

Share Incentive Plans, Assump_3

Share Incentive Plans, Assumptions for Options Granted Under 2021 Plan (Details) - 2021 Plan [Member] - Stock Options [Member] - $ / shares					9 Months Ended
	May 12, 2023	Apr. 29, 2022	Mar. 14, 2022	May 17, 2021	Sep. 30, 2023
May 17, 2021 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)				7,500
Options outstanding (in shares)					7,500
Number exercisable (in shares)					5,100
Exercise price (in dollars per share)					$ 45.05
Remaining lives					7 years 7 months 17 days
Risk free interest rate					0.84%
Expected volatility					31.50%
Expected life					6 years
Dividend yield					0.63%
Fair value at grant date (in dollars per share)					$ 13.23
March 14, 2022 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)			100,000
Options outstanding (in shares)					73,023
Number exercisable (in shares)					24,995
Exercise price (in dollars per share)					$ 30.46
Remaining lives					8 years 5 months 15 days
Risk free interest rate					2.10%
Expected volatility					35.33%
Expected life					6 years
Dividend yield					1.01%
Fair value at grant date (in dollars per share)					$ 10.23
April 29, 2022 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)		14,827
Options outstanding (in shares)					14,827
Number exercisable (in shares)					5,042
Exercise price (in dollars per share)					$ 31.39
Remaining lives					8 years 7 months 2 days
Risk free interest rate					2.92%
Expected volatility					35.33%
Expected life					6 years
Dividend yield					0.98%
Fair value at grant date (in dollars per share)					$ 11.07
May 12, 2023 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)	77,519
Options outstanding (in shares)					77,519
Number exercisable (in shares)					58,139
Exercise price (in dollars per share)					$ 20.71
Remaining lives					9 years 7 months 13 days
Risk free interest rate					3.41%
Expected volatility					34.51%
Expected life					5 years 2 months 7 days
Dividend yield					1.61%
Fair value at grant date (in dollars per share)					$ 6.45

Share Incentive Plans, Compensa

Share Incentive Plans, Compensation Expense Related to Options (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Compensation Expense [Abstract]
Compensation expense (income) related to options	$ 0.2	$ 0.3	$ 0.6	$ 0.8
Unrecognized compensation expense related to options	$ 0.3		$ 0.3
Period over which unrecognized compensation expense will be expensed			11 months 8 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							3 Months Ended		9 Months Ended
	May 04, 2023	Mar. 14, 2022	Feb. 18, 2021	Dec. 28, 2020	Mar. 18, 2020	Mar. 20, 2019	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share Incentive Plans [Abstract]
Period between performance period and measurement date									65 days
PRSUs outstanding (in shares)							456,922		456,922
Compensation expense							$ 0.8	$ 0.8	$ 1.9	$ 2.4
Unrecognized compensation expense							$ 4.4		$ 4.4
Employees [Member]
Share Incentive Plans [Abstract]
Performance period									5 years
March 20, 2019 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)						92,500
PRSUs outstanding (in shares)							77,080		77,080
Fair value as of grant date (in dollars per share)						$ 47.58
Remaining lives									3 months
March 18, 2020 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)					94,000
PRSUs outstanding (in shares)							84,360		84,360
Fair value as of grant date (in dollars per share)					$ 14.85
Remaining lives									1 year 3 months
December 28, 2020 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)				88,169
PRSUs outstanding (in shares)							31,040		31,040
Fair value as of grant date (in dollars per share)				$ 46.42
Remaining lives									3 months
February 18, 2021 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)			100,000
PRSUs outstanding (in shares)							87,340		87,340
Fair value as of grant date (in dollars per share)			$ 51.75
Remaining lives									2 years 3 months
March 14, 2022 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)		49,996
PRSUs outstanding (in shares)							43,525		43,525
Fair value as of grant date (in dollars per share)		$ 30.46
Remaining lives									3 years 3 months
May 4, 2023 [Member] | Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)	133,577
PRSUs outstanding (in shares)							133,577		133,577
Fair value as of grant date (in dollars per share)	$ 22.25
Remaining lives									2 years 6 months

Share Incentive Plans, Restrict

Share Incentive Plans, Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended		9 Months Ended
	May 08, 2023	May 05, 2023	Apr. 29, 2022	Mar. 14, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Period over which unrecognized compensation expense will be expensed							11 months 8 days
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of awards granted (in shares)					228,640		228,640
Compensation expense					$ 0.8	$ 0.4	$ 2.2	$ 0.9
Unrecognized compensation expense					$ 3.3		$ 3.3
Period over which unrecognized compensation expense will be expensed							2 years 5 months 8 days
RSUs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Vesting period							1 year
RSUs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Vesting period							5 years
RSUs [Member] | March 14, 2022 [Member] | Vest in Five Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)				50,004
RSUs outstanding (in shares)					42,947		42,947
Fair value as of grant date (in dollars per share)				$ 30.46
Remaining lives							3 years 3 months
RSUs [Member] | March 14, 2022 [Member] | Vest in Three Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)				28,726
RSUs outstanding (in shares)					18,961		18,961
Fair value as of grant date (in dollars per share)				$ 30.46
Remaining lives							1 year 3 months
RSUs [Member] | April 29, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)			4,522
RSUs outstanding (in shares)					4,522		4,522
Fair value as of grant date (in dollars per share)			$ 31.39
Remaining lives							3 years 3 months
RSUs [Member] | May 5, 2023 [Member] | Vest in Five Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)		130,873
RSUs outstanding (in shares)					130,873		130,873
Fair value as of grant date (in dollars per share)		$ 22.25
Remaining lives							2 years 6 months
RSUs [Member] | May 5, 2023 [Member] | Vest in Three Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)		22,472
RSUs outstanding (in shares)					11,236		11,236
Fair value as of grant date (in dollars per share)		$ 22.25
Remaining lives							3 months
RSUs [Member] | May 8, 2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)	20,101
RSUs outstanding (in shares)					20,101		20,101
Fair value as of grant date (in dollars per share)	$ 21.77
Remaining lives							7 months 6 days

Contingencies (Details)

Contingencies (Details)			9 Months Ended
	Jun. 27, 2023 USD ($)	Oct. 09, 2020 Count	Sep. 30, 2023 Subsidiary
Contingencies [Abstract]
Number of franchisor subsidiaries | Subsidiary			2
Complaint Related to Merger of Standard Diversified, Inc. [Member]
Contingencies [Abstract]
Number of derivative counts filed in complaint | Count		2
Settlement payment into escrow account	$ 5,000,000
Complaint Related to Merger of Standard Diversified, Inc. [Member] | Maximum [Member]
Contingencies [Abstract]
Attorneys' fees and expenses sought by Plaintiff	1,000,000
Mootness fee sought by Plaintiff	$ 400,000

Income Per Share (Details)

Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator [Abstract]
Net income attributable to Turning Point Brands, Inc.	$ 10,831	$ 11,536	$ 28,353	$ 27,958
Denominator [Abstract]
Basic weighted average shares (in shares)	17,595,980	17,749,294	17,569,493	18,021,554
Basic EPS (in dollars per share)	$ 0.62	$ 0.65	$ 1.61	$ 1.55
Numerator [Abstract]
Net income attributable to Turning Point Brands, Inc.	$ 10,831	$ 11,536	$ 28,353	$ 27,958
Interest expense related to Convertible Senior Notes, net of tax	743	1,054	2,546	3,162
Diluted net income attributable to Turning Point Brands. Inc.	$ 11,574	$ 12,590	$ 30,899	$ 31,120
Denominator [Abstract]
Basic weighted average shares (in shares)	17,595,980	17,749,294	17,569,493	18,021,554
Convertible Senior Notes (in shares)	2,311,086	3,213,589	2,637,252	3,213,589
Stock options and restricted stock units (in shares)	191,384	139,123	209,041	166,342
Diluted weighted average shares (in shares)	20,098,450	21,102,006	20,415,786	21,401,485
Diluted EPS (in dollars per share)	$ 0.58	$ 0.6	$ 1.51	$ 1.45

Segment Information, Financial

Segment Information, Financial Information of Reportable Segments (Details) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2023 USD ($)		Sep. 30, 2022 USD ($)		Sep. 30, 2023 USD ($) Segment		Sep. 30, 2022 USD ($)		Dec. 31, 2022 USD ($)
Segment Information [Abstract]
Number of reportable segments | Segment						3
Segment Information [Abstract]
Net sales		$ 101,722		$ 107,802		$ 308,273		$ 311,621
Gross profit		51,622		52,712		152,717		155,975
Operating income (loss)		20,237		19,821		58,624		57,196
Interest expense, net		3,984		4,802		12,013		15,142
Investment loss		2,101		(75)		10,980		6,074
Gain on extinguishment of debt		(481)		0		(1,858)		0
Income before income taxes		14,633		15,094		37,489		35,980
Capital expenditures		1,214		969		4,206		6,662
Depreciation and amortization		1,626		1,315		4,703		3,984
Assets		553,943				553,943				$ 572,106
Zig- Zag and Stoker's Products [Member]
Segment Information [Abstract]
Net sales		83,670		85,586		241,997		242,775
Gross profit		47,317		46,314		135,562		134,852
Operating income (loss)		20,697		19,679		58,363		55,824
Capital expenditures		1,214		969		4,206		6,662
Depreciation and amortization		1,064		862		3,013		2,584
Assets		524,835				524,835				532,482
Creative Distribution Solutions [Member]
Segment Information [Abstract]
Net sales		18,052		22,216		66,276		68,846
Reportable Segments [Member] | Zig-Zag Products [Member]
Segment Information [Abstract]
Net sales		46,754		52,061		135,363		143,959
Gross profit		26,745		28,035		75,557		80,808
Operating income (loss)		16,672		18,740		47,313		55,980
Capital expenditures		3		29		1,088		4,588
Depreciation and amortization		269		124		803		309
Assets		176,975				176,975				225,893
Reportable Segments [Member] | Stoker's Products [Member]
Segment Information [Abstract]
Net sales		36,916		33,525		106,634		98,816
Gross profit		20,572		18,279		60,005		54,044
Operating income (loss)		15,703		13,653		45,375		40,536
Capital expenditures		1,211		940		3,118		2,074
Depreciation and amortization		795		738		2,210		2,275
Assets		175,566				175,566				151,241
Reportable Segments [Member] | Creative Distribution Solutions [Member]
Segment Information [Abstract]
Net sales		18,052		22,216		66,276		68,846
Gross profit		4,305		6,398		17,155		21,123
Operating income (loss)		(460)		142		261		1,372
Capital expenditures		0		0		0		0
Depreciation and amortization		562		453		1,690		1,400
Assets		29,108				29,108				39,624
Corporate Unallocated [Member]
Segment Information [Abstract]
Operating income (loss)	[2]	(11,678)	[1]	(12,714)	[1]	(34,325)	[3]	(40,692)	[3]
Operating costs related to PMTA		300		$ 1,200		1,100		$ 4,300
Assets	[4]	$ 172,294				$ 172,294				$ 155,348
[1] Includes costs related to PMTA of $0.3 million in 2023 and $1.2 million in 2022. 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net Sales by Sales Channel [Abstract]
Net sales	$ 101,722	$ 107,802	$ 308,273	$ 311,621
Creative Distribution Solutions [Member]
Net Sales by Sales Channel [Abstract]
Net sales	18,052	22,216	66,276	68,846
Creative Distribution Solutions [Member] | Business to Business [Member]
Net Sales by Sales Channel [Abstract]
Net sales	16,089	18,226	58,620	55,024
Creative Distribution Solutions [Member] | Business to Consumer - Online [Member]
Net Sales by Sales Channel [Abstract]
Net sales	1,912	3,884	7,247	13,453
Creative Distribution Solutions [Member] | Other [Member]
Net Sales by Sales Channel [Abstract]
Net sales	$ 51	$ 106	$ 409	$ 369

Segment Information, Net Sales

Segment Information, Net Sales - Domestic and Foreign (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Information [Abstract]
Net sales	$ 101,722	$ 107,802	$ 308,273	$ 311,621
Reportable Geographical Component [Member] | Domestic [Member]
Segment Information [Abstract]
Net sales	93,533	98,173	285,514	287,381
Reportable Geographical Component [Member] | Foreign [Member]
Segment Information [Abstract]
Net sales	$ 8,189	$ 9,629	$ 22,759	$ 24,240

Additional Information with R_3

Additional Information with Respect to Unrestricted Subsidiary, Income Statements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 101,722	$ 107,802	$ 308,273	$ 311,621
Cost of sales	50,100	55,090	155,556	155,646
Gross profit	51,622	52,712	152,717	155,975
Selling, general, and administrative expenses	31,385	32,891	94,093	98,779
Operating income	20,237	19,821	58,624	57,196
Interest expense, net	3,984	4,802	12,013	15,142
Investment loss	2,101	(75)	10,980	6,074
Gain on extinguishment of debt	(481)	0	(1,858)	0
Income before income taxes	14,633	15,094	37,489	35,980
Income tax expense	3,767	3,797	9,573	8,706
Consolidated net income	10,866	11,297	27,916	27,274
Net loss attributable to non-controlling interest	35	(239)	(437)	(684)
Net income attributable to Turning Point Brands, Inc.	10,831	11,536	28,353	27,958
Company and Restricted Subsidiaries [Member]
Income Statement [Abstract]
Net sales	83,670	85,586	241,997	242,775
Cost of sales	36,353	39,272	106,435	107,923
Gross profit	47,317	46,314	135,562	134,852
Selling, general, and administrative expenses	26,620	26,635	77,199	79,028
Operating income	20,697	19,679	58,363	55,824
Interest expense, net	3,984	4,802	12,013	15,142
Investment loss	2,101	(75)	10,980	6,074
Gain on extinguishment of debt	(481)	0	(1,858)	0
Income before income taxes	15,093	14,952	37,228	34,608
Income tax expense	3,885	3,761	9,506	8,374
Consolidated net income	11,208	11,191	27,722	26,234
Net loss attributable to non-controlling interest	35	(239)	(437)	(684)
Net income attributable to Turning Point Brands, Inc.	11,173	11,430	28,159	26,918
Unrestricted Subsidiary [Member]
Income Statement [Abstract]
Net sales	18,052	22,216	66,276	68,846
Cost of sales	13,747	15,818	49,121	47,723
Gross profit	4,305	6,398	17,155	21,123
Selling, general, and administrative expenses	4,765	6,256	16,894	19,751
Operating income	(460)	142	261	1,372
Interest expense, net	0	0	0	0
Investment loss	0	0	0	0
Gain on extinguishment of debt	0	0	0	0
Income before income taxes	(460)	142	261	1,372
Income tax expense	(118)	36	67	332
Consolidated net income	(342)	106	194	1,040
Net loss attributable to non-controlling interest	0	0	0	0
Net income attributable to Turning Point Brands, Inc.	$ (342)	$ 106	$ 194	$ 1,040

Additional Information with R_4

Additional Information with Respect to Unrestricted Subsidiary, Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 96,071		$ 106,403	$ 105,672		$ 128,320
Accounts receivable, net	10,493		8,377
Inventories, net	116,926		119,915
Other current assets	23,322		22,959
Total current assets	246,812		257,654
Property, plant, and equipment, net	24,613		22,788
Deferred income taxes	8,190		8,443
Right of use assets	12,060		12,465
Deferred financing costs, net	203		282
Goodwill	136,280		136,253
Other intangible assets, net	81,725		83,592
Master Settlement Agreement (MSA) escrow deposits	27,534		27,980
Other assets	16,526		22,649
Investment in unrestricted subsidiaries	0		0
Total assets	553,943		572,106
Current liabilities:
Accounts payable	11,237		8,355
Accrued liabilities	27,227		33,001
Current portion of long-term debt	48,248		0
Other current liabilities	6		20
Total current liabilities	86,718		41,376
Notes payable and long-term debt	316,573		406,757
Lease liabilities	10,433		10,593
Total liabilities	413,724		458,726
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	138,911		111,645
Non-controlling interest	1,308		1,735
Total stockholders' equity	140,219	$ 129,246	113,380	$ 130,580	$ 127,931	$ 133,716
Total liabilities and stockholders' equity	553,943		572,106
Eliminations [Member]
Current assets:
Cash	0		0
Accounts receivable, net	0		0
Inventories, net	0		0
Other current assets	0		0
Total current assets	0		0
Property, plant, and equipment, net	0		0
Deferred income taxes	0		0
Right of use assets	0		0
Deferred financing costs, net	0		0
Goodwill	0		0
Other intangible assets, net	0		0
Master Settlement Agreement (MSA) escrow deposits	0		0
Other assets	0		0
Investment in unrestricted subsidiaries	(49,047)		(60,120)
Total assets	(49,047)		(60,120)
Current liabilities:
Accounts payable	0		0
Accrued liabilities	0		0
Current portion of long-term debt	0
Other current liabilities	0		0
Total current liabilities	0		0
Notes payable and long-term debt	0		0
Lease liabilities	0		0
Total liabilities	0		0
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	(49,047)		(60,120)
Non-controlling interest	0		0
Total stockholders' equity	(49,047)		(60,120)
Total liabilities and stockholders' equity	(49,047)		(60,120)
Company and Restricted Subsidiaries [Member]
Current assets:
Cash	92,353		103,990
Accounts receivable, net	10,363		7,374
Inventories, net	109,867		104,883
Other current assets	20,417		18,828
Total current assets	233,000		235,075
Property, plant, and equipment, net	24,382		22,261
Deferred income taxes	8,190		8,443
Right of use assets	11,922		12,328
Deferred financing costs, net	203		282
Goodwill	136,280		136,253
Other intangible assets, net	66,798		67,241
Master Settlement Agreement (MSA) escrow deposits	27,534		27,980
Other assets	16,526		22,619
Investment in unrestricted subsidiaries	49,047		60,120
Total assets	573,882		592,602
Current liabilities:
Accounts payable	10,305		7,628
Accrued liabilities	25,243		31,118
Current portion of long-term debt	48,248
Other current liabilities	6		20
Total current liabilities	83,802		38,766
Notes payable and long-term debt	316,573		406,757
Lease liabilities	10,363		10,593
Total liabilities	410,738		456,116
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	161,836		134,751
Non-controlling interest	1,308		1,735
Total stockholders' equity	163,144		136,486
Total liabilities and stockholders' equity	573,882		592,602
Unrestricted Subsidiary [Member]
Current assets:
Cash	3,718		2,413
Accounts receivable, net	130		1,003
Inventories, net	7,059		15,032
Other current assets	2,905		4,131
Total current assets	13,812		22,579
Property, plant, and equipment, net	231		527
Deferred income taxes	0		0
Right of use assets	138		137
Deferred financing costs, net	0		0
Goodwill	0		0
Other intangible assets, net	14,927		16,351
Master Settlement Agreement (MSA) escrow deposits	0		0
Other assets	0		30
Investment in unrestricted subsidiaries	0		0
Total assets	29,108		39,624
Current liabilities:
Accounts payable	932		727
Accrued liabilities	1,984		1,883
Current portion of long-term debt	0
Other current liabilities	0		0
Total current liabilities	2,916		2,610
Notes payable and long-term debt	0		0
Lease liabilities	70		0
Total liabilities	2,986		2,610
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	26,122		37,014
Non-controlling interest	0		0
Total stockholders' equity	26,122		37,014
Total liabilities and stockholders' equity	$ 29,108		$ 39,624

Dividends and Share Repurchas_2

Dividends and Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions				9 Months Ended
	Oct. 06, 2023	Feb. 24, 2022	Oct. 25, 2021	Sep. 30, 2023	Feb. 25, 2020
Share Repurchases [Abstract]
Share repurchase program authorized amount		$ 50	$ 50		$ 50
Increase in share repurchase program authorized amount		$ 24.6	$ 30.7
Remaining share repurchase program authorized amount				$ 27.2
Dividend Declared Q3-2023 [Member]
Dividends [Abstract]
Dividend payable, date to be paid				Oct. 06, 2023
Dividend payable, date of record				Sep. 15, 2023
Dividend Declared Q3-2023 [Member] | Subsequent Event [Member]
Dividends [Abstract]
Cash dividend paid (in dollars per share)	$ 0.065