EXHIBIT 99.1
Selected Financial Data
The following table sets forth our summary condensed consolidated financial data for the periods presented below and our earnings per share as adjusted for the stock dividends described below. The summary condensed consolidated financial data as of June 30, 2014 have been derived from our unaudited condensed consolidated financial statements. Our unaudited condensed consolidated financial statements include only normal and recurring adjustments, necessary to state fairly the data included therein.
The per share amounts shown below have been retroactively adjusted to reflect the 5% stock dividend which was paid on September 26, 2014 to stockholders of record on September 15, 2014 (see note (3) below).
Our historical results are not necessarily indicative of the results of operations for future periods, and our results of operations for the six-month period ended June 30, 2014 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2014. You should read the following summary condensed consolidated financial data in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our condensed consolidated financial statements and related notes included in our Current Report on Form 8-K filed on July 30, 2014 and in our Quarterly Report on Form 10-Q for the period ended June 30, 2014.
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| | | | | | | | | | | | | | | | | | | |
| | Year Ended December 31, |
| | 2013 | | 2012 | | 2011 | | 2010 | | 2009 |
| Statement of Operations Data: | | | | | | | | | |
| Revenues: | | | | | | | | | |
| Tobacco (1) | $ | 1,014,341 |
| | $ | 1,084,546 |
| | $ | 1,133,380 |
| | $ | 1,063,289 |
| | $ | 801,494 |
|
| Real estate | 65,580 |
| | 10,987 |
| | 4,266 |
| | 3,257 |
| | — |
|
| E-cigarettes | — |
| | — |
| | — |
| | — |
| | — |
|
| Total revenues | 1,079,921 |
| | 1,095,533 |
| | 1,137,646 |
| | 1,066,546 |
| | 801,494 |
|
| Net income attributed to Vector Group Ltd. | 38,944 |
| | 30,622 |
| | 75,020 |
| | 54,084 |
| | 24,806 |
|
| Per basic common share (3) | | | | | | | | | |
| Net income attributed to Vector Group Ltd. applicable to common shares | $ | 0.39 |
| | $ | 0.32 |
| | $ | 0.81 |
| | $ | 0.59 |
| | $ | 0.27 |
|
| Per diluted common share (3) | | | | | | | | | |
| Net income attributed to Vector Group Ltd. applicable to common shares | $ | 0.39 |
| | $ | 0.32 |
| | $ | 0.80 |
| | $ | 0.58 |
| | $ | 0.27 |
|
| | | | | | | | | | |
| Cash distributions declared per common share (3) | $ | 1.47 |
| | $ | 1.40 |
| | $ | 1.33 |
| | $ | 1.27 |
| | $ | 1.21 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | |
| | June 30, | | December 31, | | December 31, | | December 31, | | December 31, | | December 31, |
| | 2014 | | 2013 | | 2012 | | 2011 | | 2010 | | 2009 |
| Balance Sheet Data: | | | | | | | | | | | |
| Current assets | $ | 940,320 |
| | $ | 588,311 |
| | $ | 639,056 |
| | $ | 509,741 |
| | $ | 526,763 |
| | $ | 389,208 |
|
| Total assets | 1,642,662 |
| | 1,260,264 |
| | 1,086,731 |
| | 927,768 |
| | 949,595 |
| | 735,542 |
|
| Current liabilities | 380,312 |
| | 405,110 |
| | 195,159 |
| | 315,198 |
| | 226,872 |
| | 149,008 |
|
| Notes payable, embedded derivatives, long-term debt and other obligations, less current portion | 1,037,455 |
| | 633,700 |
| | 759,074 |
| | 542,371 |
| | 647,064 |
| | 487,936 |
|
| Noncurrent employee benefits, deferred income taxes and other long-term liabilities | 256,008 |
| | 243,063 |
| | 211,750 |
| | 159,229 |
| | 121,893 |
| | 103,280 |
|
| Total stockholders' deficiency | (31,113 | ) | | (21,609 | ) | | (79,252 | ) | | (89,030 | ) | | (46,234 | ) | | (4,682 | ) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | For the Three Months Ended | | For the Six Months Ended |
| | June 30, 2014 | | March 31, 2014 | | December 31, 2013 | | September 30, 2013 | | June 30, 2013 | | March 31, 2013 | | June 30,
2014 | | June 30, 2013 |
| Statement of Operations Data: | | | | | | | | | | | | | | | |
| Revenues: | | | | | | | | | | | | | | | |
| Tobacco (2) | $ | 250,556 |
| | $ | 233,392 |
| | $ | 253,303 |
| | $ | 271,516 |
| | $ | 249,120 |
| | $ | 240,402 |
| | $ | 483,948 |
| | $ | 489,522 |
|
| Real estate | 153,488 |
| | 108,044 |
| | 46,282 |
| | 6,425 |
| | 7,106 |
| | 5,767 |
| | 261,532 |
| | 12,873 |
|
| E-cigarettes | 2,569 |
| | 5,800 |
| | — |
| | — |
| | — |
| | — |
| | 8,369 |
| | — |
|
| Total revenues | 406,613 |
| | 347,236 |
| | 299,585 |
| | 277,941 |
| | 256,226 |
| | 246,169 |
| | 753,849 |
| | 502,395 |
|
| Net income (loss) attributed to Vector Group Ltd. | 7,925 |
| | 2,580 |
| | 64,005 |
| | (36,891 | ) | | 13,511 |
| | (1,681 | ) | | 10,505 |
| | 11,830 |
|
| Per basic common share (3) | | | | | | | | | | | | | | | |
| Net income (loss) attributed to Vector Group Ltd. applicable to common shares | $ | 0.08 |
| | $ | 0.03 |
| | $ | 0.64 |
| | $ | (0.39 | ) | | $ | 0.14 |
| | $ | (0.02 | ) | | $ | 0.10 |
| | $ | 0.12 |
|
| Per diluted common share (3) | | | | | | | | | | | | | | | |
| Net income (loss) attributed to Vector Group Ltd. applicable to common shares | $ | 0.08 |
| | $ | 0.03 |
| | $ | 0.59 |
| | $ | (0.39 | ) | | $ | 0.14 |
| | $ | (0.02 | ) | | $ | 0.10 |
| | $ | 0.12 |
|
| | | | | | | | | | | | | | | | |
| Cash distributions declared per common share (3) | $ | 0.38 |
| | $ | 0.38 |
| | $ | 0.38 |
| | $ | 0.36 |
| | $ | 0.36 |
| | $ | 0.36 |
| | $ | 0.76 |
| | $ | 0.72 |
|
______________________________
| |
| (1) | Revenues include excise taxes of $456,703, $508,027, $552,965, $538,328, and $377,771, respectively. |
| |
| (2) | Revenues include excise taxes of $109,695, $102,413, $113,409, $121,787 ,$112,596, $108,911, $212,108, and $221,507 respectively. |
| |
| (3) | Per share computations include the impact of 5% stock dividends on September 26, 2014, September 27, 2013, September 28, 2012, September 29, 2011, September 29, 2010, and September 29, 2009. |
