Vector (VGR) 10-Q 8 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 05, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	VECTOR GROUP LTD
Entity Central Index Key	59,440
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		123,754,768

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 474,738	$ 240,368
Investment securities available for sale	160,854	181,976
Accounts receivable - trade, net	25,076	23,889
Inventories	92,735	86,516
Income taxes receivable, net	218	2,841
Restricted assets	9,437	9,195
Other current assets	40,163	38,954
Total current assets	803,221	583,739
Property, plant and equipment, net	71,904	75,632
Investments in real estate, net	23,328	23,318
Long-term investments	59,369	62,726
Investments in real estate ventures	206,139	217,168
Restricted assets	9,386	12,303
Goodwill and other intangible assets, net	262,866	263,959
Prepaid pension costs	21,302	20,650
Other assets	21,985	21,120
Total assets	1,479,500	1,280,615
Current liabilities:
Current portion of notes payable and long-term debt	16,615	8,919
Current payments due under the Master Settlement Agreement	56,972	29,241
Current portion of employee benefits	914	915
Income taxes payable, net	0	96
Litigation accruals	3,514	22,904
Other current liabilities	140,388	154,217
Total current liabilities	218,403	216,292
Notes payable, long-term debt and other obligations, less current portion	1,110,731	856,108
Fair value of derivatives embedded within convertible debt	126,932	144,042
Non-current employee benefits	55,308	55,055
Deferred income taxes, net	87,914	79,429
Payments due under the Master Settlement Agreement	22,257	20,094
Litigation accruals	22,619	24,718
Other liabilities	10,772	7,038
Total liabilities	1,654,936	1,402,776
Commitments and contingencies (Note 7)
Stockholders' deficiency:
Preferred stock, par value $1.00 per share, 10,000,000 shares authorized	0	0
Common stock, par value $0.10 per share, 250,000,000 shares authorized, 123,842,329 and 123,792,329 shares issued and outstanding	12,384	12,379
Accumulated deficit	(261,370)	(210,113)
Accumulated other comprehensive income	(8,539)	(8,313)
Total Vector Group Ltd. stockholders' deficiency	(257,525)	(206,047)
Non-controlling interest	82,089	83,886
Total stockholders' deficiency	(175,436)	(122,161)
Total liabilities and stockholders' deficiency	$ 1,479,500	$ 1,280,615

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Stockholders' deficiency:
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	123,842,329	123,792,329
Common stock, shares outstanding (in shares)	123,842,329	123,792,329

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Total revenues		$ 438,273	$ 416,173	$ 819,073	$ 776,933
Cost of sales:
Total cost of sales		283,631	279,204	520,053	521,222
Operating, selling, administrative and general expenses		83,922	79,916	163,750	154,097
Litigation settlement and judgment expense		0	1,250	2,350	2,093
Restructuring charges		0	0	41	0
Operating income		70,720	55,803	132,879	99,521
Other income (expenses):
Interest expense		(36,369)	(31,761)	(67,089)	(63,507)
Change in fair value of derivatives embedded within convertible debt		7,416	5,256	17,110	11,716
Equity in earnings from real estate ventures		2,813	1,856	2,306	2,194
Equity in earnings (losses) from investments		1,089	(2,163)	(582)	(1,551)
Gain (loss) on sale of investment securities available for sale		139	(190)	706	12,839
Impairment of investment securities available for sale		(49)	0	(4,862)	0
Other, net		581	1,821	1,628	3,758
Income before provision for income taxes		46,340	30,622	82,096	64,970
Income tax expense		19,003	11,178	33,366	24,045
Net income		27,337	19,444	48,730	40,925
Net income attributed to non-controlling interest		(3,322)	(1,837)	(5,377)	(2,097)
Net income attributed to Vector Group Ltd.		$ 24,015	$ 17,607	$ 43,353	$ 38,828
Per basic common share:
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share)		$ 0.20	$ 0.14	$ 0.36	$ 0.32
Per diluted common share:
Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share)		0.20	0.14	0.35	0.32
Cash distributions and dividends declared per share (in dollars per share)		$ 0.40	$ 0.38	$ 0.80	$ 0.76
Tobacco
Revenues:
Total revenues	[1]	$ 255,498	$ 254,890	$ 476,513	$ 482,975
Cost of sales:
Total cost of sales	[1]	168,607	174,867	305,345	331,897
Restructuring charges				41
Real Estate
Revenues:
Total revenues		182,765	161,022	342,512	293,278
Cost of sales:
Total cost of sales		115,017	103,870	214,695	188,228
E-Cigarettes
Revenues:
Total revenues		10	261	48	680
Cost of sales:
Total cost of sales		$ 7	$ 467	$ 13	$ 1,097
[1]	Revenues and cost of sales include federal excise taxes of $106,861, $108,912, $197,707 and $206,271, respectively.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Tax portion of revenues and cost of goods sold	$ 106,861	$ 108,912	$ 197,707	$ 206,271

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 27,337	$ 19,444	$ 48,730	$ 40,925
Net unrealized losses on investment securities available for sale:
Change in net unrealized (losses) gains	(820)	(4,493)	(5,454)	16,417
Net unrealized (gains) losses reclassified into net income	(90)	190	4,156	(12,839)
Net unrealized (losses) gains on investment securities available for sale	(910)	(4,303)	(1,298)	3,578
Net unrealized gains on long-term investments accounted for under the equity method:
Change in net unrealized gains	0	1,176	0	1,190
Net unrealized losses reclassified into net income	0	1,624	0	1,624
Net unrealized gains on long-term investments accounted for under the equity method	0	2,800	0	2,814
Net change in forward contracts	9	16	18	32
Net change in pension-related amounts
Net loss arising during the year	0	1,607	0	1,607
Amortization of loss	445	254	890	521
Net change in pension-related amounts	445	1,861	890	2,128
Other comprehensive (loss) income	(456)	374	(390)	8,552
Income tax effect on:
Change in net unrealized (losses) gains on investment securities	337	1,857	2,245	(6,603)
Net unrealized losses (gains) reclassified into net income on investment securities	37	(78)	(1,708)	5,309
Change in unrealized gains on long-term investments accounted for under the equity method	0	(478)	0	(484)
Net unrealized losses reclassified into net income on long-term investments accounted for under the equity method	0	(672)	0	(672)
Forward contracts	(4)	(7)	(7)	(13)
Pension-related amounts	(183)	(769)	(366)	(880)
Income tax benefit (provision) on other comprehensive income	187	(147)	164	(3,343)
Other comprehensive (loss) income, net of tax	(269)	227	(226)	5,209
Comprehensive income	27,068	19,671	48,504	46,134
Comprehensive income attributed to non-controlling interest	(3,322)	(1,837)	(5,377)	(2,097)
Comprehensive income attributed to Vector Group Ltd.	$ 23,746	$ 17,834	$ 43,127	$ 44,037

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Stockholders' Deficiency - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		$ (122,161)
Beginning Balance (in shares)		123,792,329
Net income	$ 27,337	$ 48,730
Total other comprehensive loss	(269)	(226)
Comprehensive income	27,068	48,504
Distributions and dividends on common stock		(99,443)
Restricted stock grant		0
Stock-based compensation		4,838
Contributions from non-controlling interest		248
Distributions to non-controlling interest		(7,422)
Ending Balance	$ (175,436)	$ (175,436)
Beginning Balance (in shares)	123,842,329	123,842,329
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		$ 12,379
Beginning Balance (in shares)		123,792,329
Restricted stock grant (in shares)		50,000
Restricted stock grant		$ 5
Ending Balance	$ 12,384	$ 12,384
Beginning Balance (in shares)	123,842,329	123,842,329
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		$ 0
Distributions and dividends on common stock		(4,833)
Restricted stock grant		(5)
Stock-based compensation		4,838
Ending Balance	$ 0	0
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		(210,113)
Net income		43,353
Distributions and dividends on common stock		(94,610)
Ending Balance	(261,370)	(261,370)
Accumulated Other Comprehensive Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		(8,313)
Total other comprehensive loss		(226)
Ending Balance	(8,539)	(8,539)
Non-controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		83,886
Net income		5,377
Contributions from non-controlling interest		248
Distributions to non-controlling interest		(7,422)
Ending Balance	$ 82,089	$ 82,089

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Cash Flows [Abstract]
Net cash provided by operating activities	$ 78,825	$ 83,885
Cash flows from investing activities:
Sale of investment securities	67,033	118,261
Maturities of investment securities	343	1,737
Purchase of investment securities	(56,691)	(113,595)
Proceeds from sale or liquidation of long-term investments	1,000	1,254
Purchase of long-term investments	(50)	(5,000)
Investments in real estate ventures	(11,806)	(34,857)
Distributions from investments in real estate ventures	17,983	0
Increase in cash surrender value of life insurance policies	(393)	(1,118)
Decrease (increase) in restricted assets	2,674	(7,934)
Issuance of notes receivable	0	(4,410)
Proceeds from sale of fixed assets	5	3
Capital expenditures	(7,615)	(5,379)
Pay downs of investment securities	4,926	3,530
Proceeds from sale of preferred securities	0	1,000
Investments in real estate, net	(81)	(12,502)
Net cash provided by (used in) investing activities	17,328	(59,010)
Cash flows from financing activities:
Proceeds from issuance of debt	243,282	22
Deferred financing costs	(6,600)	(625)
Repayments of debt	(2,917)	(3,374)
Borrowings under revolver	89,695	126,727
Repayments on revolver	(80,223)	(144,492)
Dividends and distributions on common stock	(97,846)	(92,778)
Contributions from non-controlling interest	248	0
Distributions to non-controlling interest	(7,422)	0
Proceeds from exercise of Vector options	0	1,219
Tax benefit of options exercised	0	384
Net cash provided by (used in) financing activities	138,217	(112,917)
Net increase (decrease) in cash and cash equivalents	234,370	(88,042)
Cash and cash equivalents, beginning of period	240,368	326,365
Cash and cash equivalents, end of period	$ 474,738	$ 238,323

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation : The condensed consolidated financial statements of Vector Group Ltd. (the “Company” or “Vector”) include the accounts of VGR Holding LLC (“VGR Holding”), Liggett Group LLC (“Liggett”), Vector Tobacco Inc. (“Vector Tobacco”), Liggett Vector Brands LLC (“Liggett Vector Brands”), Zoom E-Cigs LLC (“Zoom”), New Valley LLC (“New Valley”) and other less significant subsidiaries. New Valley includes the accounts of Douglas Elliman Realty, LLC (“Douglas Elliman”) and other less significant subsidiaries. All intercompany balances and transactions have been eliminated. Liggett and Vector Tobacco are engaged in the manufacture and sale of cigarettes in the United States. Zoom is engaged in the sale of electronic cigarettes in the United States. New Valley is engaged in the real estate business. The unaudited, interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and, in management's opinion, contain all adjustments, consisting only of normal recurring items, necessary for a fair statement of the results for the periods presented. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission. The consolidated results of operations for interim periods should not be regarded as necessarily indicative of the results that may be expected for the entire year. Revisions to December 31, 2015 Consolidated Balance Sheet. In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest” (“ASU 2015-03”), which requires debt issuance costs to be reported in the balance sheet as a direct deduction from the face amount of the note. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015. This amendment must be applied retrospectively to all periods presented. The Company adopted the provisions of this ASU retrospectively in the first quarter of 2016, and adjusted all prior periods accordingly. The adoption of this ASU will simplify the presentation of debt issuance costs and reduce complexity without decreasing the usefulness of information provided to users of financial statements. The cumulative impacts of the application of the new ASU are presented in the table below: December 31, 2015 As Previously Reported ASU Adoption As Revised Other assets $ 51,261 $ (30,141 ) $ 21,120 Total assets $ 1,310,756 $ (30,141 ) $ 1,280,615 Notes payable, long-term debt and other obligations, less current portion $ 886,249 $ (30,141 ) $ 856,108 Total liabilities 1,432,917 (30,141 ) 1,402,776 Total stockholders' deficiency (122,161 ) — (122,161 ) Total liabilities and stockholders' deficiency $ 1,310,756 $ (30,141 ) $ 1,280,615 Adoption of Equity Method. The Company adopted the equity method of accounting for its investments in Ladenburg Thalmann Financial Services Inc. (“LTS”) and Castle Brands Inc. (“Castle”) in 2015 because the Company determined that it had significant influence due to the evolution of the relationships with each company. In accordance with ASC 323-35-33, the Company has adjusted its condensed consolidated financial statements, retrospectively, on a step-by-step basis as if the equity method had been in effect since inception. The cumulative impact of the retrospective application of the equity method of accounting for the two investments are presented in the table below: Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 As Previously Reported Revision As Revised As Previously Reported Revision As Revised Operating, selling, administrative and general expenses $ 79,679 $ 237 $ 79,916 $ 153,623 $ 474 $ 154,097 Operating income 56,040 (237 ) 55,803 99,995 (474 ) 99,521 Equity in losses from investments (1,657 ) (506 ) (2,163 ) (1,694 ) 143 (1,551 ) Other, net 1,525 296 1,821 3,421 337 3,758 Income before provision for income taxes 31,069 (447 ) 30,622 64,964 6 64,970 Income tax expense 11,364 (186 ) 11,178 24,043 2 24,045 Net income 19,705 (261 ) 19,444 40,921 4 40,925 Net income attributed to Vector Group Ltd. 17,868 (261 ) 17,607 38,824 4 38,828 Other comprehensive (loss) income, net of tax (2,781 ) 3,008 227 (782 ) 5,991 5,209 Comprehensive income 16,924 2,747 19,671 40,139 5,995 46,134 Comprehensive income attributed to Vector Group Ltd. $ 15,087 $ 2,747 $ 17,834 $ 38,042 $ 5,995 $ 44,037 (b) Distributions and Dividends on Common Stock : The Company records distributions on its common stock as dividends in its condensed consolidated statement of stockholders' deficiency to the extent of retained earnings and accumulated paid-in capital. Any amounts exceeding retained earnings are recorded as a reduction to additional paid-in capital to the extent paid-in-capital is available. The Company’s stock dividends are recorded as stock splits and given retroactive effect to earnings per share for all periods presented. (c) Revenue Recognition : Tobacco and E-Cigarettes sales: Revenues from sales are recognized upon the shipment of finished goods when title and risk of loss have passed to the customer, there is persuasive evidence of an arrangement, the sale price is fixed or determinable and collectibility is reasonably assured. The Company provides an allowance for expected sales returns, net of any related inventory cost recoveries (e.g. federal excise taxes). Certain sales incentives, including promotional price discounts, are classified as reductions of net sales. The Company includes federal excise taxes on tobacco sales in revenues and cost of goods sold. Since the Company’s primary line of business is tobacco, the Company’s financial position and its results of operations and cash flows have been and could continue to be materially adversely affected by significant unit sales volume declines at the Company and industry levels, regulation, litigation and defense costs, increased tobacco costs or reductions in the selling price of cigarettes in the near term. Real estate sales: Revenue is recognized only when persuasive evidence of an arrangement exists, the price is fixed or determinable, the transaction has been completed and collectibility of the resulting receivable is reasonably assured. Real estate commissions earned by the Company’s real estate brokerage businesses are recorded as revenue on a gross basis upon the closing of a real estate transaction as evidenced when the escrow or similar account is closed, the transaction documents have been recorded and funds are distributed to all appropriate parties. Commission expenses are recognized concurrently with related revenues. Property management fees and rental commissions earned are recorded as revenue when the related services are performed and the earnings process is complete. (d) Earnings Per Share (“EPS”) : Information concerning the Company's common stock has been adjusted to give retroactive effect to the 5% stock dividend paid to Company stockholders on September 29, 2015 . All per share amounts and references to share amounts have been updated to reflect the retrospective effect of the stock dividends. Net income for purposes of determining basic and diluted EPS was as follows: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Net income attributed to Vector Group Ltd. $ 24,015 $ 17,607 $ 43,353 $ 38,828 Income attributed to participating securities (784 ) (521 ) (1,417 ) (1,151 ) Net income available to common shares attributed to Vector Group Ltd. $ 23,231 $ 17,086 $ 41,936 $ 37,677 Basic and diluted EPS were calculated using the following common shares: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Weighted-average shares for basic EPS 118,065,857 117,954,708 118,062,358 117,475,380 Plus incremental shares related to stock options and non-vested restricted stock 236,348 209,067 215,386 205,262 Weighted-average shares for diluted EPS 118,302,205 118,163,775 118,277,744 117,680,642 The following were outstanding during the three and six months ended June 30, 2016 and 2015 , but were not included in the computation of diluted EPS because the effect was anti-dilutive. Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Weighted-average number of shares issuable upon conversion of debt 24,895,477 24,895,477 24,895,477 25,334,835 Weighted-average conversion price $ 19.63 $ 19.63 $ 19.63 $ 19.48 (e) Fair Value of Derivatives Embedded within Convertible Debt : The Company has estimated the fair value of the embedded derivatives based principally on the results of a valuation model. A readily determinable fair value of the embedded derivatives is not available. The estimated fair value of the derivatives embedded within the convertible debt is based principally on the present value of future dividend payments expected to be received by the convertible debt holders over the term of the debt. The discount rate applied to the future cash flows is estimated based on a spread in the yield of the Company's debt when compared to risk-free securities with the same duration. The valuation model assumes future dividend payments by the Company and utilizes interest rates and credit spreads for secured to unsecured debt, unsecured to subordinated debt and subordinated debt to preferred stock to determine the fair value of the derivatives embedded within the convertible debt. At June 30, 2016 , the range of estimated fair values of the Company's embedded derivatives was between $125,983 and $127,870 . The Company recorded the fair value of its embedded derivatives at the approximate midpoint of the range at $126,932 as of June 30, 2016 . At December 31, 2015 , the range of estimated fair values of the Company's embedded derivatives was between $143,422 and $144,660 . The Company recorded the fair value of its embedded derivatives at the midpoint of the range at $144,042 as of December 31, 2015 . The estimated fair value of the Company's embedded derivatives could change significantly based on future market conditions. (See Note 6 .) (f) Investment in Real Estate Ventures: The Company's investment in real estate ventures are subject to evaluation under ASU No. 2015-02, “Consolidation” (“ASU 2015-02”) which requires all legal entities to be evaluated as either a voting interest entity or a Variable Interest Entities (“VIE”). The guidance is effective for financial statements of public companies issued for fiscal years beginning after December 15, 2015. The Company has followed the decision tree set forth in ASC 810-10-05-6 in analyzing each of its investments in real estate ventures. The Company examines specific criteria and uses judgment when determining if the real estate venture is a VIE and then if the Company is the primary beneficiary of a VIE. Factors considered in the qualification of a VIE include sufficient equity investment at risk, disproportionate voting rights and substantially all of the activities are conducted on behalf of an investor with disproportionately few voting rights, and characteristics of a controlling financial interest. Accounting guidance requires the Company to perform the VIE primary-beneficiary assessment for entities determined to be VIEs. The Company is required to consolidate all VIEs in which the Company is the primary beneficiary. The guidance requires consolidation of VIEs that a reporting entity has a controlling financial interest. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly affect the VIE's economic performance and (b) the obligation to absorb losses or the right to receive residual returns of the VIE that could potentially be significant to the VIE. The Company's maximum exposure to loss in its investments in unconsolidated VIEs is limited to its investment in the unconsolidated VIEs which is the carrying value. The Company's maximum exposure to loss in its investment in its consolidated VIEs is limited to its investment which is the carrying value of the investment net of the non-controlling interest. Creditors of the consolidated VIEs have no recourse to the general credit of the primary beneficiary. (g) Other Income, Net : Other income, net consisted of: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest and dividend income $ 1,452 $ 1,795 $ 2,776 $ 3,535 Gain on long-term investment — 24 — 224 Impairment of long-term investments (921 ) — (1,203 ) — Other income (expense) 50 2 55 (1 ) Other income, net $ 581 $ 1,821 $ 1,628 $ 3,758 (h) Other Current Liabilities : Other current liabilities consisted of: June 30, 2016 December 31, 2015 Accounts payable $ 10,265 $ 19,639 Accrued promotional expenses 22,269 24,816 Accrued excise and payroll taxes payable, net 16,784 26,556 Accrued interest 35,028 28,147 Commissions payable 9,885 11,008 Accrued salary and benefits 18,179 22,774 Other current liabilities 27,978 21,277 Total other current liabilities $ 140,388 $ 154,217 (i) Goodwill and Other Intangible Assets : The components of “Goodwill and other intangible assets, net” were as follows: June 30, December 31, Goodwill $ 70,791 $ 70,791 Indefinite life intangibles: Intangible asset associated with benefit under the MSA 107,511 107,511 Trademark - Douglas Elliman 80,000 80,000 Intangibles with a finite life, net 4,564 5,657 Total goodwill and other intangible assets, net $ 262,866 $ 263,959 (j) Commitments : Douglas Elliman Lease Extension. On March 31, 2016, Douglas Elliman extended the duration of an existing lease and entered into a sublease for additional space in New York. The agreement extended the lease term from 2018 to 2032. The new agreements increase the Company’s lease commitments by $0 in 2016, $1,164 in 2017, $1,412 in 2018, $3,733 in 2019, $5,394 in 2020 and $69,460 thereafter. (k) New Accounting Pronouncements : In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 modifies U.S. Generally Accepted Accounting Principles (“GAAP”) by requiring the following, among others: (1) all excess tax benefits and tax deficiencies are to be recognized as income tax expense or benefit on the income statement (excess tax benefits are recognized regardless of whether the benefit reduces taxes payable in the current period); (2) excess tax benefits are to be classified along with other income tax cash flows as an operating activity in the statement of cash flows; (3) in the area of forfeitures, an entity can still follow the current U.S. GAAP practice of making an entity-wide accounting policy election to estimate the number of awards that are expected to vest or may instead account for forfeitures when they occur; and (4) classification as a financing activity in the statement of cash flows of cash paid by an employer to the taxing authorities when directly withholding shares for tax withholding purposes. ASU 2016-09 is effective for the Company's fiscal year beginning January 1, 2017, including interim periods. Early application is permitted. The Company is currently assessing the impact the adoption of ASU 2016-09 will have on the Company's condensed consolidated financial statements. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (“ASU 2016-08”). ASU 2016-08 does not change the core principle of the guidance stated in ASU 2014-09, instead, the amendments in this ASU are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations and whether an entity reports revenue on a gross or net basis. ASU 2016-08 will have the same effective date and transition requirements as the new revenue standard issued in ASU 2014-09. The Company is currently evaluating the method and impact the adoption of this ASU and ASU 2014-09 will have on the Company's condensed consolidated financial statements. In March 2016, the FASB issued ASU 2016-07, Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting (“ASU 2016-07”). ASU 2016-07 eliminates the requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant influence over a previously held investment. ASU 2016-07 will be effective for the Company’s fiscal year beginning January 1, 2017 and subsequent interim periods. The adoption of ASU 2016-07 is not expected to have a material effect on the Company’s condensed consolidated financial statements. In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (a consensus of the Emerging Issues Task Force) (“ASU 2016-06”). ASU 2016-06 clarifies the requirement for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under ASU 2016-06 is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. The amendments in ASU 2016-06 are effective for the Company's fiscal year beginning January 1, 2017, including interim periods. The Company is currently evaluating the method and impact the adoption of this ASU 2016-06 will have on the Company's condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight line basis over the term of the lease. Accounting for lessors remains largely unchanged from current U.S. GAAP. ASU 2016-02 will be effective for the Company’s fiscal year beginning January 1, 2019 and subsequent interim periods. The Company is currently evaluating the impact the adoption of ASU 2016-02 will have on the Company's condensed consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. A practicality exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value under ASC 820, Fair Value Measurements, and as such these investments may be measured at cost. ASU 2016-01 will be effective for the Company’s fiscal year beginning January 1, 2018 and subsequent interim periods. The Company is currently evaluating the impact the adoption of ASU 2016-01 will have on the Company’s condensed consolidated financial statements. In May 2014, FASB issued ASU 2014-9, Revenue from Contracts with Customers (Topic 606), (“ASU 2014-9”). ASU 2014-9 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. As amended by ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date the new standard is effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning subsequent to December 15, 2016. The new standard is required to be applied retrospectively to each prior reporting period presented or with the cumulative effect of initially applying it recognized at the date of initial application. The Company has not yet selected a transition method and it has not determined the impact of the new standard on the Company's condensed consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consist of: June 30, December 31, Leaf tobacco $ 49,537 $ 49,856 Other raw materials 3,586 3,578 Work-in-process 606 789 Finished goods 67,219 61,493 E-Cigarettes 67 80 Inventories at current cost 121,015 115,796 LIFO adjustments (28,280 ) (29,280 ) $ 92,735 $ 86,516 All of the Company's inventories at June 30, 2016 and December 31, 2015 are reported under the LIFO method. The $28,280 LIFO adjustment as of June 30, 2016 decreases the current cost of inventories by $18,863 for Leaf tobacco, $643 for Other raw materials, $33 for Work-in-Process, $8,736 for Finished goods and $5 for E-Cigarettes. The $29,280 LIFO adjustment as of December 31, 2015 decreased the current cost of inventories by $19,863 for Leaf tobacco, $643 for Other raw materials, $33 for Work-in-Process, $8,736 for Finished goods and $5 for E-Cigarettes. Liggett enters into purchase commitments with third party providers for leaf tobacco that will be used entirely for future production. The future quantities of leaf tobacco and prices are established at the date of the commitments. At June 30, 2016 , Liggett had tobacco purchase commitments of approximately $16,151 . Liggett has a single source supply agreement for reduced ignition propensity cigarette paper through 2019. The Company capitalizes the incremental prepaid cost of the MSA in ending inventory. Each period, the Company capitalizes in inventory that portion of its MSA liability that relates to cigarettes shipped to public warehouses but not sold. The amount of capitalized MSA cost in “Finished goods” inventory was $15,865 and $15,796 at June 30, 2016 and December 31, 2015 , respectively. Federal excise tax in inventory was $26,417 and $23,455 at June 30, 2016 and December 31, 2015 .

Investment Securities Available

Investment Securities Available for Sale	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investment Securities Available for Sale	INVESTMENT SECURITIES AVAILABLE FOR SALE The components of investment securities available for sale at June 30, 2016 were as follows: Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable equity securities $ 38,172 $ 17,343 $ (206 ) $ 55,309 Mutual funds invested in fixed income securities 20,307 211 — 20,518 Marketable debt securities 83,865 1,162 — 85,027 Total investment securities available for sale $ 142,344 $ 18,716 $ (206 ) $ 160,854 The components of investment securities available for sale at December 31, 2015 were as follows: Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable equity securities $ 47,502 $ 19,833 $ (62 ) $ 67,273 Mutual funds invested in fixed income securities 20,126 — (15 ) 20,111 Marketable debt securities 94,540 52 — 94,592 Total investment securities available for sale $ 162,168 $ 19,885 $ (77 ) $ 181,976 The table below summarizes the maturity dates of marketable debt securities at June 30, 2016 . Investment Type: Market Value Under 1 Year 1 Year up to 5 Years More than 5 Years U.S. Government securities $ 27,456 $ — $ 27,456 $ — Corporate securities 35,660 2,271 33,389 — U.S. mortgage-backed securities 7,343 — 49 7,294 Commercial mortgage-backed securities 3,675 — — 3,675 U.S. asset-backed securities 2,115 — 2,115 — Commercial paper 7,985 7,985 — — Index-linked U.S. bonds 793 — 793 — Total marketable debt securities by maturity dates $ 85,027 $ 10,256 $ 63,802 $ 10,969 The available-for-sale investment securities with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows: In loss position for Less than 12 months 12 months or more Fair Value Unrealized Losses Fair Value Unrealized Losses Total Fair Value Total Unrealized Losses June 30, 2016 Marketable equity securities $ — $ — $ 5,794 $ (206 ) $ 5,794 $ (206 ) $ — $ — $ 5,794 $ (206 ) $ 5,794 $ (206 ) December 31, 2015 Marketable equity securities $ 5,938 $ (62 ) $ — $ — $ 5,938 $ (62 ) Mutual funds invested in fixed income securities 10,053 (15 ) — — 10,053 (15 ) $ 15,991 $ (77 ) $ — $ — $ 15,991 $ (77 ) Unrealized losses from mutual funds invested in fixed-income securities are primarily attributable to changes in interest rates. Unrealized losses from equity securities are due to market price movements. The Company believes the unrealized losses associated with the Company's equity securities will be recovered in the future. Gross realized gains and losses on available-for-sale investment securities were as follows: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Gross realized gains on sales $ 206 $ 520 $ 955 $ 14,084 Gross realized losses on sales (67 ) (710 ) (249 ) (1,245 ) Gains (losses) on sale of investment securities available for sale $ 139 $ (190 ) $ 706 $ 12,839 Gross realized losses on other-than-temporary impairments $ (49 ) $ — $ (4,862 ) $ — The Company recorded an “Other-than-temporary impairment” charge of $49 and $4,862 during the three and six months ended June 30, 2016 . The largest component of the charge for the six months ended June 30, 2016 was $4,772 related to an investment in the common stock of Morgans Hotel Group Co., a company where Vector's President and Chief Executive Officer also serves as Chairman of the Board of Directors. Although management generally does not have the intent to sell any specific securities at the end of the period, in the ordinary course of managing the Company's investment securities portfolio, management may sell securities prior to their maturities for a variety of reasons, including diversification, credit quality, yield and liquidity requirements. Proceeds from investment securities sales totaled $67,033 and $118,261 and proceeds from early redemptions by issuers totaled $5,269 and $5,267 in the six months ended June 30, 2016 and 2015 , respectively, mainly from sales of Corporate securities and U.S. Government securities.

Long-Term Investments

Long-Term Investments	6 Months Ended
	Jun. 30, 2016
Long-term Investments [Abstract]
Long-Term Investments	LONG-TERM INVESTMENTS Long-term investments consisted of the following: June 30, 2016 December 31, 2015 Investments accounted at cost $ 39,028 $ 41,231 Investments accounted for under the equity method 20,341 21,495 $ 59,369 $ 62,726 (a) Cost-Method Investments: Long-term investments accounted for at cost consisted of the following: June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Value Value Value Value Investments partnerships $ 38,527 $ 41,522 $ 40,730 $ 44,217 Real estate partnership 501 504 501 552 $ 39,028 $ 42,026 $ 41,231 $ 44,769 The principal business of the investment partnerships is investing in investment securities and real estate. The estimated fair value of the investment partnerships was provided by the partnerships based on the indicated market values of the underlying assets or investment portfolio. The investments in these investment partnerships are illiquid and the ultimate realization of these investments is subject to the performance of the underlying partnership and its management by the general partners. In the future, the Company may invest in other investments, including limited partnerships, real estate investments, equity securities, debt securities, derivatives and certificates of deposit, depending on risk factors and potential rates of return. If it is determined that an other-than-temporary decline in fair value exists in long-term investments, the Company records an impairment charge with respect to such investment in its consolidated statements of operations. The Company will continue to perform additional assessments to determine the impact, if any, on the Company’s condensed consolidated financial statements. Thus, future impairment charges may occur. The Company has accounted for these investments using the cost method of accounting because the investments did not meet the requirements for equity method accounting. The Company received cash distributions of $1,000 and $371 from the Company's investments in long-term investments under the cost method for the six months ended June 30, 2016 and 2015 , respectively. The Company invested $5,000 in a reinsurance company during the six months ended June 30, 2015 . The long-term investments are carried on the consolidated balance sheet at cost. The fair value determination disclosed above would be classified as Level 3 under fair value hierarchy disclosed in Note 11 if such assets were recorded on the consolidated balance sheet at fair value. The fair value determinations disclosed above were based on company assumptions, and information obtained from the partnerships based on the indicated market values of the underlying assets of the investment portfolio. (b) Equity-Method Investments: Long-term investments accounted for under the equity method consisted of the following: June 30, December 31, 2015 Indian Creek Investors LP $ 4,929 $ 4,989 Boyar Value Fund 7,312 7,302 Ladenburg Thalmann Financial Services Inc. 8,100 9,204 Castle Brands, Inc. — — $ 20,341 $ 21,495 The Company's investments accounted for under the equity method include the following: Indian Creek Investors LP (“Indian Creek”), Boyar Value Fund (“Boyar”), Ladenburg Thalmann Financial Services Inc. (“LTS”) and Castle Brands Inc. (“Castle”). At June 30, 2016 , the Company's ownership percentages in Indian Creek, Boyar, LTS and Castle were 20.13% , 30.65% , 7.75% and 7.91% , respectively. The Company accounted for its Indian Creek and Boyar interests as equity-method investments because the Company's ownership percentage meets the threshold for equity-method accounting. The Company accounted for its LTS and Castle interests as equity-method investments because, in accordance with generally accepted accounting principles, the Company has the ability to exercise significant influence over their operating and financial policies. The principal business of Indian Creek is investing in investment securities. Fair value approximates carrying value. The estimated fair value of the investment partnership was provided by the partnership based on the indicated market values of the underlying assets or investment portfolio. The investment in the investment partnership is illiquid and the ultimate realization of the investment is subject to the performance of the underlying partnership and its management by the general partners. The Company's investments under the equity method include an investment in Boyar. The value of the investment based on the quoted market price as of June 30, 2016 was $7,312 , equal to its carrying value. Ladenburg Thalmann Fund Management, LLC, an indirect subsidiary of LTS, is the manager of Boyar. At June 30, 2016 , the aggregate values of the LTS and Castle investments based on the quoted market price were $33,491 and $9,250 , respectively. The Company received cash distributions of $572 and $1,754 from the Company's investments in long-term investments under the equity method for the six months ended June 30, 2016 and 2015 , respectively. The Company recognized equity in earnings from long-term investments under the equity method of $1,089 for the three months ended June 30, 2016 and equity in losses from long-term investments under the equity method of $582 for the six months ended June 30, 2016 . The Company recognized equity in losses from long-term investments under the equity method of $2,163 and $1,551 for the three and six months ended June 30, 2015 , respectively. The Company has suspended its recognition of equity in losses from Castle to the extent such losses exceed its basis. If it is determined that an other-than-temporary decline in fair value exists in long-term investments, the Company records an impairment charge with respect to such investment in its consolidated statements of operations. The Company will continue to perform additional assessments to determine the impact, if any, on the Company’s condensed consolidated financial statements. Thus, future impairment charges may occur.

New Valley LLC

New Valley LLC	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
New Valley LLC	NEW VALLEY LLC Residential Brokerage Business. New Valley is engaged in the real estate business and is seeking to acquire or invest in additional real estate properties or projects. The Company owns a 70.59% interest in Douglas Elliman and the condensed consolidated financial statements of the Company include the account balances of Douglas Elliman. Investments in real estate ventures. New Valley also holds equity investments in various real estate projects domestically and internationally. The components of “Investments in real estate ventures” were as follows: June 30, December 31, 10 Madison Square Park (1107 Broadway) $ 9,188 $ 11,391 The Marquand (11 East 68th Street) 9,333 13,900 11 Beach Street 13,702 13,209 20 Times Square (701 Seventh Avenue) 16,487 14,985 111 Murray Street 25,308 25,567 160 Leroy Street 4,511 3,952 215 Chrystie Street 5,729 5,592 The Dutch (25-19 43rd Avenue) 1,129 1,077 Queens Plaza (23-10 Queens Plaza South) 16,834 16,177 87 Park (8701 Collins Avenue) 8,846 8,658 125 Greenwich Street 9,780 9,750 West Hollywood Edition (9040 Sunset Boulevard) 7,050 10,510 76 Eleventh Avenue 18,867 17,967 Monad Terrace 7,774 6,608 Takanasee 4,916 4,680 Condominium and Mixed Use Development 159,454 164,023 Maryland Portfolio — — ST Portfolio 9,193 15,754 Apartment Buildings 9,193 15,754 Park Lane Hotel 21,138 19,697 Hotel Taiwana 7,786 7,069 Coral Beach and Tennis Club 3,162 3,159 Hotels 32,086 29,925 The Plaza at Harmon Meadow 3,682 5,449 Commercial 3,682 5,449 Other 1,724 2,017 Investments in real estate ventures $ 206,139 $ 217,168 Condominium and Mixed-Use Development: Condominium and mixed-use development investments range in ownership percentage from 3.1% to 49.5% . New Valley recorded net equity in earnings from real estate ventures of $2,962 and $1,779 for the three and six months ended June 30, 2016 from its condominium and mixed-used developments. For the three months ended June 30, 2016 equity in earnings from real estate related to $3,788 in equity earnings from New Valley's proportionate share of the sale of condominium units at 10 Madison Square Park offset by equity in losses of $826 from the other condominiums and mixed-use development projects. For the six months ended June 30, 2016 equity in earnings from real estate was related to $4,211 in equity earnings from New Valley's proportionate share of the sale of condominium units at 10 Madison Square Park and $34 equity in earnings from other condominiums and mixed-use development projects offset by equity losses of $962 at the Marquand, $160 at 11 Beach Street, $247 at 111 Murray Street, $144 at 215 Chrystie Street, $122 at Queens Plaza, $250 at 87 Park, $177 at West Hollywood Edition, and $404 at Monad Terrace. New Valley recorded equity in earnings from real estate ventures of $138 and $675 for the the three and six months ended June 30, 2015 . The Company recorded $1,501 of equity in earnings related to its proportionate share of the Marquand’s equity earnings from the sale of three of its units for the six months ended June 30, 2015 . The Company also recorded $236 of equity in earnings from Chelsea Eleven for a distribution of excess amounts held back in 2012 for final expenses of the investment for the six months ended June 30, 2015 . During the six months ended June 30, 2016 , New Valley made capital contributions totaling $8,801 related to ventures where New Valley previously held an investment, primarily at 20 Times Square, 160 Leroy Street, West Hollywood Edition, and Monad Terrace. For ventures where New Valley previously held an investment, New Valley contributed its proportionate share of additional capital along with contributions by the other investment partners. New Valley's direct investment percentage did not change. During the six months ended June 30, 2015 , New Valley made capital contributions totaling $27,091 primarily related to 215 Chrystie Street, 76 Eleventh Avenue and Monad Terrace. New Valley contributed its proportionate share of additional capital along with contributions by the other investment partners. New Valley's investment percentages did not change. During the six months ended June 30, 2016 , New Valley received distributions of $19,985 primarily related to 10 Madison Square West, the Marquand, West Hollywood Edition and income from marketing fees paid by 125 Greenwich Street. During the six months ended June 30, 2015 , New Valley received distributions of $236 from its investment in Chelsea Eleven, which sold its last unit in 2012, for excess amounts held back in 2012 for final expenses of the investment. New Valley's maximum exposure to loss, net of non-controlling interest, as a result of its investments in condominium and mixed-use developments was $140,667 at June 30, 2016 . New Valley capitalized $4,836 of interest expense into the carrying value of its ventures whose projects were currently under development during the six months ended June 30, 2016 . Douglas Elliman has been engaged by the developers as the sole broker or the co-broker for several of the real estate development projects that New Valley owns an interest in through its joint venture investments. Douglas Elliman had gross commissions of approximately $5,674 and $8,079 for the three and six months ended June 30, 2016 from these projects. Apartment Buildings: Apartment building investments range in ownership percentage from 7.6% to 16.3% . New Valley recorded equity in earnings from real estate ventures of $1,630 and $2,146 for the three and six months ended June 30, 2016 , primarily related to the ST Portfolio apartment portfolio. In 2015, ST Portfolio sold one (Highgrove) of its two remaining Class A multi-family buildings. New Valley recorded equity in earnings from real estate ventures of $1,848 and $1,801 for the three and six months ended June 30, 2015 , related to the ST Portfolio. In 2015, ST Portfolio sold one (Phoenix) of its three remaining Class A multi-family buildings. New Valley received distributions of $8,707 during the six months ended June 30, 2016 , primarily related to ST Portfolio and Maryland Portfolio. New Valley received distributions of $493 during the six months ended June 30, 2015 , primarily related to the Maryland Portfolio. New Valley has suspended its recognition of equity losses in Maryland Portfolio to the extent such losses exceed its basis. New Valley's maximum exposure to loss as a result of its investment in apartment buildings was $9,193 at June 30, 2016 . Hotels: Hotel investments range in ownership percentage from 5.2% to 49.0% . New Valley recorded equity in losses from real estate ventures of $189 and $844 for the three and six months ended June 30, 2016 , related to hotel operations. New Valley recorded equity in losses from real estate ventures of $261 and $1,006 for the three and six months ended June 30, 2015 . New Valley made capital contributions totaling $3,005 for the six months ended June 30, 2016 , related to the Park Lane Hotel and Coral Beach and Tennis Club. New Valley made capital contributions totaling $1,980 for the six months ended June 30, 2015 , related to the Park Lane Hotel and Coral Beach and Tennis Club. New Valley's maximum exposure to loss as a result of its investments in hotels was $32,086 at June 30, 2016 . Commercial: New Valley recorded equity in losses from real estate ventures of $1,744 and $1,532 for the three and six months ended June 30, 2016 , related to shopping center rental operations. New Valley recorded equity in earnings from real estate ventures of $27 for the three and six months ended June 30, 2015 , related to shopping center rental operations. New Valley received distributions totaling $235 for the six months ended June 30, 2016 , related to Harmon Meadow. New Valley's maximum exposure to loss as a result of its investments in commercial ventures was $3,682 at June 30, 2016 . Other: Other investments in real estate ventures relate to a 50% investment in an insurance consulting company owned by Douglas Elliman. Investments in Real Estate, net: The components of “Investments in real estate, net” were as follows: June 30, December 31, Escena, net $ 10,644 $ 10,716 Sagaponack 12,684 12,602 Investments in real estate, net $ 23,328 $ 23,318 Escena. The assets of “Escena, net” were as follows: June 30, December 31, Land and land improvements $ 8,907 $ 8,907 Building and building improvements 1,874 1,875 Other 2,001 1,923 12,782 12,705 Less accumulated depreciation (2,138 ) (1,989 ) $ 10,644 $ 10,716 New Valley recorded operating losses of $299 and $173 for the three months ended June 30, 2016 and 2015 , respectively, from Escena. New Valley recorded operating income of and $209 and $552 for the six months ended June 30, 2016 and 2015 , respectively, from Escena. Investment in Sagaponack. In April 2015, New Valley invested $12,502 in a residential real estate project located in Sagaponack, NY. The project is wholly owned and the balances of the project are included in the condensed consolidated financial statements of the Company. As of June 30, 2016 , the assets of Sagaponack consisted of land and land improvements of $12,684 .

Notes Payable, Long Term Debt a

Notes Payable, Long Term Debt and Other Obligations	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Notes Payable, Long-Term Debt and Other Obligations	NOTES PAYABLE, LONG-TERM DEBT AND OTHER OBLIGATIONS Notes payable, long-term debt and other obligations consist of: June 30, December 31, Vector: 7.75% Senior Secured Notes due 2021, including premium of $15,391 and $8,014 $ 850,391 $ 608,014 7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $121,788 and $132,119* 108,212 97,881 5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $79,010 and $86,136* 179,740 172,614 Liggett: Revolving credit facility 12,808 3,213 Term loan under credit facility 3,147 3,269 Equipment loans 6,866 9,716 Other 354 461 Notes payable, long-term debt and other obligations 1,161,518 895,168 Less: Debt issuance costs (34,172 ) (30,141 ) Total notes payable, long-term debt and other obligations 1,127,346 865,027 Less: Current maturities (16,615 ) (8,919 ) Amount due after one year $ 1,110,731 $ 856,108 ______________________ * The fair value of the derivatives embedded within the 7.5% Variable Interest Senior Convertible Notes ( $61,998 at June 30, 2016 and $72,083 at December 31, 2015 , respectively) and the 5.5% Variable Interest Senior Convertible Debentures ( $64,934 at June 30, 2016 and $71,959 at December 31, 2015 , respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets. 7.75% Senior Secured Notes due 2021 - Vector : On May 9, 2016, the Company completed the sale of an additional $235,000 principal amount of its 7.75% Senior Secured Notes due 2021 for a price of 103.50% in a private offering to qualified institutional investors in accordance with Rule 144A of the Securities Act of 1933 (the "Securities Act"). The Company received net proceeds of approximately $236,900 after deducting underwriting discounts, commissions, fees and offering expenses. The net proceeds will be used for general corporate purposes, including for additional investments in real estate and in the Company's tobacco business. The Company will amortize the deferred costs and debt premium related to the additional Senior Secured Notes over the estimated remaining life of the debt. In August 2016, the Company completed an offer to exchange the 7.75% Senior Secured Notes issued in May 2016 for an equal amount of newly issued 7.75% Senior Secured Notes due 2021. The new 7.75% Senior Secured Notes have substantially the same terms as the original notes, except that the new 7.75% Senior Secured Notes have been registered under the Securities Act. 6.75% Variable Interest Senior Convertible Note due 2015 - Vector : On February 3, 2015, the holder of the 6.75% Variable Interest Senior Convertible Note due 2015, converted the remaining $25,000 principal balance of the $50,000 Note into 2,338,930 of the Company's common shares. The debt conversion resulted in a reduction of debt and an increase to equity in the amount of $25,000 . Revolving Credit Facility and Term Loan Under Credit Facility - Liggett : As of June 30, 2016 , a total of $15,955 was outstanding under the revolving and term loan portions of the credit facility. Availability, as determined under the facility, was approximately $44,000 based on eligible collateral at June 30, 2016 . Shares of Common Stock per $1,000 Principal Amount due on Convertible Notes : The conversion rates for all convertible debt outstanding as of June 30, 2016 and December 31, 2015 , are summarized below: June 30, 2016 December 31, 2015 Conversion Price Shares per $1,000 Conversion Price Shares per $1,000 7.5% Variable Interest Senior Convertible Notes due 2019 $ 15.98 62.5743 $ 15.98 62.5743 5.5% Variable Interest Senior Convertible Debentures due 2020 $ 24.64 40.5891 $ 24.64 40.5891 Non-Cash Interest Expense - Vector : Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Amortization of debt discount, net $ 8,653 $ 6,213 $ 16,609 $ 11,840 Amortization of debt issuance costs 1,401 1,022 2,569 1,988 $ 10,054 $ 7,235 $ 19,178 $ 13,828 Fair Value of Notes Payable and Long-Term Debt : June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Value Value Value Value Notes payable and long-term debt $ 1,161,518 (1) $ 1,513,012 $ 895,168 (1) $ 1,297,875 ______________________ (1) The carrying value does not include the carrying value of the embedded derivative. See Note 11 . Notes payable and long-term debt are carried on the condensed consolidated balance sheet at amortized cost. The fair value determinations disclosed above are classified as Level 2 under the fair value hierarchy disclosed in Note 11 if such liabilities were recorded on the condensed consolidated balance sheet at fair value. The estimated fair value of the Company's notes payable and long-term debt has been determined by the Company using available market information and appropriate valuation methodologies including the evaluation of the Company's credit risk as described in the Company's Form 10-K. The Company used the quoted market prices as of June 30, 2016 to determine the fair value of its publicly-traded notes and debentures. The carrying value of the credit facility and term loan is equal to the fair value. The fair value of the equipment loans and other obligations was determined by calculating the present value of the required future cash flows. However, considerable judgment is required to develop the estimates of fair value and, accordingly, the estimate presented herein is not necessarily indicative of the amount that could be realized in a current market exchange.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES Tobacco-Related Litigation : Overview. Since 1954, Liggett and other United States cigarette manufacturers have been named as defendants in numerous direct, third-party and purported class actions predicated on the theory that cigarette manufacturers should be liable for damages alleged to have been caused by cigarette smoking or by exposure to secondary smoke from cigarettes. The cases have generally fallen into the following categories: (i) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs (“Individual Actions”); (ii) lawsuits by individuals requesting the benefit of the Engle ruling (“ Engle progeny cases”); (iii) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring, as well as cases alleging that use of the terms “lights” and/or “ultra lights” constitutes a deceptive and unfair trade practice, common law fraud or violation of federal law, purporting to be brought on behalf of a class of individual plaintiffs (“Class Actions”); and (iv) health care cost recovery actions brought by various foreign and domestic governmental plaintiffs and non-governmental plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits (“Health Care Cost Recovery Actions”). With the commencement of new cases, the defense costs and the risks relating to the unpredictability of litigation increase. The future financial impact of the risks and expenses of litigation are not quantifiable. For the three months ended June 30, 2016 and 2015 , Liggett incurred tobacco product liability legal expenses and costs totaling $1,707 and $3,158 , respectively. For the six months ended June 30, 2016 and 2015 , Liggett incurred tobacco product liability legal expenses and costs totaling $5,878 and $5,713 , respectively. The tobacco product liability legal expenses and costs are included in the operating, selling, administrative and general expenses and litigation settlement and judgment expense line items in the Condensed Consolidated Statements of Operations. Litigation is subject to uncertainty and it is possible that there could be adverse developments in pending cases. Management reviews on a quarterly basis with counsel all pending litigation and evaluates the probability of a loss being incurred and whether an estimate can be made of the possible loss or range of loss that could result from an unfavorable outcome. An unfavorable outcome or settlement of pending tobacco-related litigation could encourage the commencement of additional litigation. Damages awarded in tobacco-related litigation can be significant. Bonds. Although Liggett has been able to obtain required bonds or relief from bonding requirements in order to prevent plaintiffs from seeking to collect judgments while adverse verdicts are on appeal, there remains a risk that such relief may not be obtainable in all cases. This risk has been reduced given that a majority of states now limit the dollar amount of bonds or require no bond at all. To obtain stays on judgments pending current appeals of the Putney , Calloway , Boatright, Buchanan and Ward cases Liggett, as of June 30, 2016, had secured approximately $10,767 in bonds. In June 2009, Florida amended its existing bond cap statute by adding a $200,000 bond cap that applies to all Engle progeny cases in the aggregate and establishes individual bond caps for individual Engle progeny cases in amounts that vary depending on the number of judgments in effect at a given time but in any event, the maximum amount of any such bond for an appeal in the Florida state courts will be no greater than $5,000 . In several cases, plaintiffs challenged the constitutionality of the bond cap statute, but to date the courts have upheld the constitutionality of the statute. It is possible that the Company’s consolidated financial position, results of operations, and cash flows could be materially adversely affected by an unfavorable outcome of such challenges. Accounting Policy . The Company and its subsidiaries record provisions in their consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of loss can be reasonably estimated. At the present time, while it is reasonably possible that an unfavorable outcome in a case may occur, except as disclosed in this Note 7 : (i) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases; or (ii) management is unable to reasonably estimate the possible loss or range of loss that could result from an unfavorable outcome of any of the pending tobacco-related cases and, therefore, management has not provided any amounts in the consolidated financial statements for unfavorable outcomes, if any. Legal defense costs are expensed as incurred. Cautionary Statement About Engle Progeny Cases . Judgments have been entered against Liggett and other industry defendants in more than 100 Engle progeny cases. A number of the judgments have been affirmed on appeal and satisfied by the defendants. As of June 30, 2016 , 24 Engle progeny cases where Liggett was a defendant at trial resulted in verdicts. Fifteen verdicts were returned in favor of the plaintiffs (although in two of these cases ( Irimi and Cohen ) the court granted defendants' motion for a new trial) and nine in favor of Liggett. In four of the cases, punitive damages were awarded against Liggett (although in Calloway , the punitive damages award was reversed and remanded to the trial court). In certain cases, the judgments were entered jointly and severally with other defendants and Liggett may face the risk that one or more co-defendants decline or otherwise fail to participate in the bonding required for an appeal or to pay their proportionate or jury-allocated share of a judgment. As a result, under certain circumstances, Liggett may have to pay more than its proportionate share of any bonding or judgment related amounts. Several of the judgments against Liggett remain on appeal. Except as discussed in this Note 7 regarding the cases where an adverse verdict against Liggett remains on appeal, management is unable to estimate the possible loss or range of loss from the remaining Engle progeny cases as there are currently multiple defendants in each case and, in most cases, discovery has not occurred or is limited. As a result, the Company lacks information about whether plaintiffs are in fact Engle class members (non-class members’ claims are generally time-barred), the relevant smoking history, the nature of the alleged injury and the availability of various defenses, among other things. Further, plaintiffs typically do not specify their demand for damages. Although Liggett has generally been successful in managing litigation, litigation is subject to uncertainty and significant challenges remain, including with respect to the remaining Engle progeny cases. There can be no assurances that Liggett’s past litigation experience will be representative of future results. Judgments have been entered against Liggett in the past, in Individual Actions and Engle progeny cases, and several of those judgments were affirmed on appeal and satisfied by Liggett. It is possible that the consolidated financial position, results of operations and cash flows of the Company could be materially adversely affected by an unfavorable outcome or settlement of any of the remaining smoking-related litigation. Liggett believes, and has been so advised by counsel, that it has valid defenses to the litigation pending against it, as well as valid bases for appeal of adverse verdicts. All such cases are, and will continue to be, vigorously defended, however, Liggett has entered into settlement discussions in individual cases or groups of cases, where Liggett has determined it was in its best interest to do so, and it may continue to do so in the future, including with respect to the remaining Engle progeny cases. In October 2013, Liggett announced a settlement of the claims of over 4,900 Engle progeny plaintiffs (see Engle Progeny Settlement below). As of June 30, 2016 , Liggett (and in certain cases the Company) had, on an individual basis, settled 175 Engle progeny cases for approximately $5,999 in the aggregate. One of those settlements occurred in the second quarter of 2016 . Individual Actions As of June 30, 2016 , there were 38 Individual Actions pending against Liggett and, in certain cases, the Company, where one or more individual plaintiffs allege injury resulting from cigarette smoking, addiction to cigarette smoking or exposure to secondary smoke and seek compensatory and, in some cases, punitive damages. These cases do not include the remaining Engle progeny cases or the individual cases pending in West Virginia state court as part of a consolidated action. The following table lists the number of Individual Actions by state: State Number of Cases Maryland 13 Florida 11 New York 7 Louisiana 3 West Virginia 2 Missouri 1 Ohio 1 The plaintiffs’ allegations of liability in cases in which individuals seek recovery for injuries allegedly caused by cigarette smoking are based on various theories of recovery, including negligence, gross negligence, breach of special duty, strict liability, fraud, concealment, misrepresentation, design defect, failure to warn, breach of express and implied warranties, conspiracy, aiding and abetting, concert of action, unjust enrichment, common law public nuisance, property damage, invasion of privacy, mental anguish, emotional distress, disability, shock, indemnity, violations of deceptive trade practice laws, the federal Racketeer Influenced and Corrupt Organizations Act (“RICO”), state RICO statutes and antitrust statutes. In many of these cases, in addition to compensatory damages, plaintiffs also seek other forms of relief including treble/multiple damages, medical monitoring, disgorgement of profits and punitive damages. Although alleged damages often are not determinable from a complaint, and the law governing the pleading and calculation of damages varies from state to state and jurisdiction to jurisdiction, compensatory and punitive damages have been specifically pleaded in a number of cases, sometimes in amounts ranging into the hundreds of millions and even billions of dollars. Defenses raised in Individual Actions include lack of proximate cause, assumption of the risk, comparative fault and/or contributory negligence, lack of design defect, statute of limitations, equitable defenses such as “unclean hands” and lack of benefit, failure to state a claim and federal preemption. Engle Progeny Cases Engle Case. In May 1994, Engle was filed against Liggett and others in Miami-Dade County, Florida. The class consisted of all Florida residents who, by November 21, 1996, “have suffered, presently suffer or have died from diseases and medical conditions caused by their addiction to cigarette smoking.” In July 1999, after the conclusion of Phase I of the trial, the jury returned a verdict against Liggett and other cigarette manufacturers on certain issues determined by the trial court to be “common” to the causes of action of the plaintiff class. The jury made several findings adverse to the defendants including that defendants’ conduct “rose to a level that would permit a potential award or entitlement to punitive damages.” Phase II of the trial was a causation and damages trial for three of the class plaintiffs and a punitive damages trial on a class-wide basis before the same jury that returned the verdict in Phase I. In April 2000, the jury awarded compensatory damages of $ 12,704 to the three class plaintiffs, to be reduced in proportion to the respective plaintiff’s fault. In July 2000, the jury awarded approximately $145,000,000 in punitive damages, including $790,000 against Liggett. In May 2003, Florida’s Third District Court of Appeal reversed the trial court and remanded the case with instructions to decertify the class. The judgment in favor of one of the three class plaintiffs, in the amount of $5,831 , was overturned as time barred and the court found that Liggett was not liable to the other two class plaintiffs. In July 2006, the Florida Supreme Court affirmed the decision vacating the punitive damages award and held that the class should be decertified prospectively, but determined that the following Phase I findings are entitled to res judicata effect in Engle progeny cases: (i) that smoking causes lung cancer, among other diseases; (ii) that nicotine in cigarettes is addictive; (iii) that defendants placed cigarettes on the market that were defective and unreasonably dangerous; (iv) that defendants concealed material information knowing that the information was false or misleading or failed to disclose a material fact concerning the health effects or addictive nature of smoking; (v) that defendants agreed to conceal or omit information regarding the health effects of cigarettes or their addictive nature with the intention that smokers would rely on the information to their detriment; (vi) that defendants sold or supplied cigarettes that were defective; and (vii) that defendants were negligent. The Florida Supreme Court decision also allowed former class members to proceed to trial on individual liability issues (using the above findings) and compensatory and punitive damage issues, provided they filed their individual lawsuits by January 2008. In December 2006, the Florida Supreme Court added the finding that defendants sold or supplied cigarettes that, at the time of sale or supply, did not conform to the representations made by defendants. In October 2007, the United States Supreme Court denied defendants’ petition for writ of certiorari. Pursuant to the Florida Supreme Court’s July 2006 ruling in Engle , which decertified the class on a prospective basis, and affirmed the appellate court’s reversal of the punitive damages award, former class members had until January 2008 in which to file individual lawsuits. As a result, Liggett and the Company, and other cigarette manufacturers, were sued in thousands of Engle progeny cases in both federal and state courts in Florida. Although the Company was not named as a defendant in the Engle case, it was named as a defendant in substantially all of the Engle progeny cases where Liggett was named as a defendant. Engle Progeny Settlement. In October 2013, the Company entered into a settlement with approximately 4,900 Engle progeny plaintiffs and their counsel. Pursuant to the terms of the settlement, Liggett agreed to pay a total of approximately $110,000 , with approximately $61,600 paid in a lump sum and the balance to be paid in installments over 14 years , starting in February 2015. In exchange, the claims of over 4,900 plaintiffs, including the claims of all plaintiffs with cases pending in federal court, were dismissed with prejudice against the Company and Liggett. Due to the settlement, in 2013 the Company recorded a charge of $86,213 , of which $25,213 is related to certain payments discounted to their present value using an 11% annual discount rate. The installment payments total approximately $48,000 on an undiscounted basis. The Company’s future payments will be approximately $3,400 per annum through 2028, with a cost of living increase beginning in 2021. Notwithstanding the comprehensive nature of the Engle Progeny Settlement, approximately 245 plaintiffs’ claims remain pending in state court. Therefore, the Company and Liggett may still be subject to periodic adverse judgments which could have a material adverse affect on the Company’s consolidated financial position, results of operations and cash flows. As of June 30, 2016 , the following Engle progeny cases have resulted in judgments against Liggett: Date Case Name County Liggett Compensatory (1) Liggett Punitive Damages Status (2) June 2002 Lukacs v. R.J. Reynolds Miami-Dade $12,418 $— Liggett satisfied the judgment and the case is concluded. August 2009 Campbell v. R.J. Reynolds Escambia 156 — Liggett satisfied the judgment and the case is concluded. March 2010 Douglas v. R.J. Reynolds Hillsborough 1,350 — Liggett satisfied the judgment and the case is concluded. April 2010 Clay v. R.J. Reynolds Escambia 349 1,000 Liggett satisfied the judgment and the case is concluded. April 2010 Putney v. R.J. Reynolds Broward 3,008 — On June 12, 2013, the Fourth District Court of Appeal reversed and remanded the case for further proceedings regarding the amount of the award. Both sides sought discretionary review from the Florida Supreme Court. In February 2016, the Florida Supreme Court reinstated the jury's verdict. The defendants moved for clarification of that order, which was granted in March 2016. The court clarified that it reversed the district court's decision regarding the statute of repose only, leaving the remaining portions of the decision intact. The case will be remanded to the trial court for proceedings consistent with those portions of the district court's decision that were not reversed. April 2011 Tullo v. R.J. Reynolds Palm Beach 225 — Liggett satisfied the judgment and other than an issue with respect to the calculation of interest on the judgment and the amount of costs owed by Liggett, the case is concluded. January 2012 Ward v. R.J. Reynolds Escambia 1 — Liggett satisfied the merits judgment. Subsequently, the trial court entered a joint and several final judgment on attorneys' fees and costs for $981 and defendants appealed that judgment. May 2012 Calloway v. R.J. Reynolds Broward 1,530 — A joint and several judgment for $16,100 was entered against R.J. Reynolds, Philip Morris, Lorillard and Liggett. On January 6, 2016, the Fourth District Court of Appeal reversed in part, including the $7,600 punitive damages award against Liggett, and remanded the case to the trial court for a new trial on certain issues. Both sides have moved for rehearing. December 2012 Buchanan v. R.J. Reynolds Leon 2,750 — Liggett satisfied the judgment and the case is concluded. May 2013 Cohen v. R.J. Reynolds Palm Beach — — In May 2013, the jury awarded compensatory damages in the amount of $2,055 and apportioned 10% of the fault to Liggett ($205). Defendants' motion seeking a new trial was granted by the trial court. Plaintiff appealed and defendants cross-appealed. Oral argument occurred on June 7, 2016. A decision is pending. August 2013 Rizzuto v. R.J. Reynolds Hernando 3,479 — Liggett settled its portion of the judgment for $1,500 and the case is concluded as to Liggett. August 2014 Irimi v. R.J. Reynolds Broward — — In August 2014, the jury awarded compensatory damages in the amount of $3,123 and apportioned 1% of the fault to Liggett ($31). In January 2015, the trial court granted defendants' motion for a new trial. Plaintiff appealed. October 2014 Lambert v. R.J. Reynolds Pinellas 3,600 9,500 Liggett satisfied the judgment and the case is concluded. November 2014 Boatright v. R.J. Reynolds Polk — 300 In November 2014, the jury awarded compensatory damages in the amount of $15,000 with 15% fault apportioned to plaintiff and 85% to Philip Morris. The jury further assessed punitive damages against Philip Morris for $19,700 and Liggett for $300. Post trial motions were denied. A joint and several judgment was entered in the amount of $12,750 on the compensatory damages. Judgment was further entered against Liggett for $300 in punitive damages. Defendants appealed and plaintiff cross-appealed. June 2015 Caprio v. R.J. Reynolds Broward — — In February 2015, the jury answered certain questions on the verdict form, but were deadlocked as to others. The jury returned a verdict of $559 in economic damages. The court entered a partial judgment and ordered a new trial on the remaining issues, including comparative fault and punitive damages. Defendants appealed. Total Damages Awarded: 28,866 10,800 Amounts accrued, paid or compromised: (24,328) (10,500) Damages remaining on Appeal: $4,538 $300 (1) Compensatory damages are adjusted to reflect the jury's allocation of comparative fault and only include Liggett's jury allocated share, regardless of whether a judgment was joint and several. The amounts listed above do not include attorneys' fees or statutory interest. (2) See Exhibit 99.1 for a more complete description of the cases currently on appeal. Through June 30, 2016 , Liggett paid $ 39,773 , including interest and attorneys' fees, to satisfy the judgments in the following Engle progeny cases: Lukacs , Campbell , Douglas , Clay, Tullo, Ward, Rizzuto, Lambert and Buchanan . The Company’s current potential range of loss in the remaining cases on appeal is between $0 and $4,838 in the aggregate, plus interest and attorneys' fees, however, this is only an estimate and final damages in any case might increase as a result of pending appeals. In determining the range of loss, the Company considers potential settlements as well as future appellate relief. Except as disclosed elsewhere in this Note 7 , the Company is unable to determine a range of loss related to the remaining Engle progeny cases. As cases proceed through the appellate process, the Company will consider accruals on a case-by-case basis if an unfavorable outcome becomes probable and the amount can be reasonably estimated. Appeals of Engle Progeny Judgments. In December 2010, in the Martin case, a state court case against R.J. Reynolds, the First District Court of Appeal held that the trial court correctly construed the Florida Supreme Court’s 2006 decision in Engle in instructing the jury on the preclusive effect of the Phase I Engle findings. In July 2011, the Florida Supreme Court declined to review the First District Court of Appeal’s decision. In March 2012, the United States Supreme Court declined to review the Martin case, along with the Campbell case and two other Engle progeny cases. The Martin decision has led to additional adverse rulings by other state appellate courts. In Jimmie Lee Brown , a state court case against R.J. Reynolds, the trial court tried the case in two phases. In the first phase, the jury determined that the smoker was addicted to cigarettes that contained nicotine and that his addiction was a legal cause of his death, thereby establishing he was an Engle class member. In the second phase, the jury determined whether the plaintiff established legal cause and damages with regard to each of the underlying claims. The jury found in favor of plaintiff in both phases. In September 2011, the Fourth District Court of Appeal affirmed the judgment entered in plaintiff’s favor and approved the trial court’s procedure of bifurcating the trial. The Fourth District Court of Appeal agreed with Martin that individual post- Engle plaintiffs need not prove conduct elements as part of their burden of proof, but disagreed with Martin to the extent that the First District Court of Appeal only required a finding that the smoker was a class member to establish legal causation as to addiction and the underlying claims. The Fourth District Court of Appeal held that in addition to establishing class membership, Engle progeny plaintiffs must also establish legal causation and damages as to each claim asserted. In so finding, the Fourth District Court of Appeal’s decision in Jimmie Lee Brown is in conflict with Martin . In Rey, a state court case, the trial court entered final summary judgment on all claims in favor of the Company, Liggett and Lorillard based on what has been referred to in the Engle progeny litigation as the “Liggett Rule.” The Liggett Rule stands for the proposition that a manufacturer cannot have liability to a smoker under any asserted claim if the smoker did not use a product manufactured by that particular defendant. The Liggett Rule is based on the entry of final judgment in favor of Liggett/Brooke Group in Engle on all of the claims asserted against them by class representatives Mary Farnan and Angie Della Vecchia, even though the Florida Supreme Court upheld, as res judicata, the generic finding that Liggett/Brooke Group engaged in a conspiracy to commit fraud by concealment. In September 2011, the Third District Court of Appeal affirmed in part and reversed in part holding that the defendants were entitled to summary judgment on all claims asserted against them other than the claim for civil conspiracy. Defendants’ further appellate efforts were unsuccessful. In Douglas , a state court case, the Second District Court of Appeal issued a decision affirming the judgment of the trial court in favor of the plaintiff and upholding the use of the Engle jury findings, but certified to the Florida Supreme Court the question of whether granting res judicata effect to the Engle jury findings violates defendants’ federal due process rights. In March 2013, the Florida Supreme Court affirmed the use of Engle jury findings and determined that there is no violation of the defendants’ due process rights. This was the first time the Florida Supreme Court addressed the merits of an Engle progeny case. In October 2013, the United States Supreme Court declined to review the decision and Liggett satisfied the judgment. To date, the United States Supreme Court has declined to review any Engle progeny decisions. In Hess , a state court case, in April 2015, the Florida Supreme Court held that Engle defendants cannot raise a statute of repose defense to claims for concealment or conspiracy. Defendants' motion for rehearing was denied. In April 2015, in Graham , a federal case, the Eleventh Circuit held that federal law impliedly preempts use of the res judicata Engle findings to establish claims for strict liability or negligence. In February 2016, the Eleventh Circuit Court of Appeals vacated the panel’s opinion and granted Plaintiff’s motion for rehearing en banc . Defendants filed a motion requesting that the court enter a briefing order directing the parties to address both implied preemption and whether the application of the Engle findings violates federal due process. That motion was granted. Oral argument occurred in June 2016 and a decision is pending. Maryland Cases Liggett is currently a defendant in 13 multi-defendant personal injury cases in Maryland that allege claims arising from asbestos and tobacco exposure. Liggett along with other tobacco defendants have moved (or are in the process of moving) to dismiss the cases. In the past, motions to dismiss have generally been successful, typically resulting in the dismissal without prejudice of the tobacco company defendants, including Liggett. Recently, however, a Maryland intermediate appellate court ruled, in Stidham, et al. v. R. J. Reynolds Tobacco Company, et al., that dismissal of tobacco company defendants may not be appropriate where injury is asserted based on both asbestos and tobacco usage. On May 9, 2016, the Court of Appeals for Maryland (Maryland's highest court) heard oral argument on the appeal of the intermediate appellate court's decision. On July 5, 2016, the Court of Appeals ruled that joinder of tobacco and asbestos cases may be possible in certain circumstances, but plaintiffs must demonstrate at the trial court level how such cases may be joined while providing appropriate safeguards to prevent embarrassment, delay, expense or prejudice to defendants and "the extent to which, if at all, the special procedures applicable to asbestos cases should extend to tobacco companies." Other than providing guidance, the Court of Appeals remanded these issues to be determined at the trial court level. It is possible that Liggett and other tobacco company defendants will not be dismissed from pending synergy exposure cases, and may be named as defendants in asbestos-related personal injury actions in Maryland going forward, including approximately 20 additional synergy exposure cases currently pending in Maryland state court. Liggett Only Cases There are currently three cases pending where Liggett is the only remaining defendant. Each of these cases is an Individual Action. In November 2015, in Hausrath (NY state court), the court entered a case management order providing discovery deadlines. A status conference is scheduled for August 2, 2016. There has been no further activity in the other two Individual Actions. Cases where Liggett is the only defendant could increase as a result of the remaining Engle progeny cases. Class Actions As of June 30, 2016 , three actions were pending for which either a class had been certified or plaintiffs were seeking class certification where Liggett is a named defendant. Other cigarette manufacturers are also named in these actions. Plaintiffs’ allegations of liability in class action cases are based on various theories of recovery, including negligence, gross negligence, strict liability, fraud, misrepresentation, design defect, failure to warn, nuisance, breach of express and implied warranties, breach of special duty, conspiracy, concert of action, violation of deceptive trade practice laws and consumer protection statutes and claims under the federal and state anti-racketeering statutes. Plaintiffs in the class actions seek various forms of relief, including compensatory and punitive damages, treble/multiple damages and other statutory damages and penalties, creation of medical monitoring and smoking cessation funds, disgorgement of profits, and injunctive and equitable relief. Defenses raised in these cases include, among others, lack of proximate cause, individual issues predominate, assumption of the risk, comparative fault and/or contributory negligence, statute of limitations and federal preemption. In November 1997, in Young v. American Tobacco Co., a purported personal injury class action was commenced on behalf of plaintiff and all similarly situated residents in Louisiana who, though not themselves cigarette smokers, allege they were exposed to secondhand smoke from cigarettes that were manufactured by the defendants, including Liggett, and suffered injury as a result of that exposure. The plaintiffs seek to recover an unspecified amount of compensatory and punitive damages. No class certification hearing has been held. In 2013, plaintiffs’ filed a motion to stay the case and that motion was granted. In February 1998, in Parsons v. AC & S Inc. , a purported class action was commenced on behalf of all West Virginia residents who allegedly have personal injury claims arising from exposure to cigarette smoke and asbestos fibers. The complaint seeks to recover $1,000 in compensatory and punitive damages individually and unspecified compensatory and punitive damages for the class. The case is stayed due to the December 2000 bankruptcy of three of the defendants. Although not technically a class action, in In Re: Tobacco Litigation (Personal Injury Cases) , a West Virginia state court consolidated approximately 750 individual smoker actions that were pending prior to 2001 for trial of certain "common" issues. Liggett was severed from trial of the consolidated action. After two mistrials, in May 2013, the jury rejected all but one of the plaintiffs' claims, finding in favor of plaintiffs on the claim that ventilated filter cigarettes between 1964 and July 1, 1969 should have included instructions on how to use them. The issue of damages was reserved for further proceedings. The court entered judgment in October 2013, dismissing all claims except the ventilated filter claim. The judgment was affirmed on appeal and remanded to the trial court for further proceedings. In April 2015, the plaintiffs filed a petition for writ of certiorari to the United States Supreme Court which subsequently declined review. In July 2015, the trial court ruled on the scope of the ventilated filter claim and determined that only 30 plaintiffs have potentially viable claims against the non-Liggett defendants, which may be pursued in a second phase of the trial. The court intends to try the claims of these plaintiffs in six consolidated trials, each with five plaintiffs. The trial court set the first date for the consolidated trials for January 9, 2017. With respect to Liggett, the trial court requested that Liggett and plaintiffs brief whether any claims against Liggett survive given the outcome of the first phase of the trial. On May 23, 2016 , the trial court ruled that the case may proceed against Liggett. Liggett intends to seek appellate review of this decision. It is estimated that Liggett could be a defendant in approximately 25 of the remaining individual cases. In add

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The following table summarizes key information related to the Company's pension plans and other postretirement benefits: Pension Benefits Pension Benefits Other Postretirement Benefits Other Postretirement Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2016 2015 2016 2015 2016 2015 2016 2015 Service cost — benefits earned during the period $ 137 $ 133 $ 274 $ 265 $ 1 $ 2 $ 2 $ 4 Interest cost on projected benefit obligation 1,355 1,280 2,710 2,598 97 93 194 185 Expected return on assets (1,519 ) (1,888 ) (3,038 ) (3,813 ) — — — — Settlement loss — 1,607 — 1,607 — — — — Amortization of net loss (gain) 464 278 928 569 (19 ) (24 ) (38 ) (48 ) Net expense $ 437 $ 1,410 $ 874 $ 1,226 $ 79 $ 71 $ 158 $ 141

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING The following table presents the activity under the Tobacco segment restructuring plan for the six months ended June 30, 2016 : Employee Severance and Benefits Contract Termination/Exit Costs Other Total Accrual balance as of January 1, 2016 $ 422 $ 48 $ 20 $ 490 Restructuring charges — 41 — 41 Utilized (315 ) (89 ) (20 ) (424 ) Accrual balance as of June 30, 2016 $ 107 $ — $ — $ 107

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company's provision for income taxes in interim periods is based on an estimated annual effective income tax rate derived, in part, from estimated annual pre-tax results from ordinary operations. The annual effective income tax rate is reviewed and, if necessary, adjusted on a quarterly basis. The Company's income tax expense consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Income before provision for income taxes $ 46,340 $ 30,622 $ 82,096 $ 64,970 Income tax expense using estimated annual effective income tax rate 18,793 11,347 33,317 24,145 Changes in effective tax rates 210 (78 ) — — Impact of discrete items, net — (91 ) 49 (100 ) Income tax expense $ 19,003 $ 11,178 $ 33,366 $ 24,045 The discrete item for the six months ended June 30, 2016 is primarily related to the results of recent state income tax audits. The discrete item for the six months ended June 30, 2015 is primarily related to the rate differential in other comprehensive income and the results of a recent state income tax audit.

Investments and Fair Value Meas

Investments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	INVESTMENTS AND FAIR VALUE MEASUREMENTS The Company's recurring financial assets and liabilities subject to fair value measurements were as follows: Fair Value Measurements as of June 30, 2016 Description Total Quoted Prices in Active Markets for Identical Assets Total Gains (Losses) Assets: Money market funds $ 336,845 $ 336,845 $ — $ — Commercial paper 42,044 — 42,044 — Certificates of deposit 2,976 — 2,976 — Bonds 10,767 10,767 — — Investment securities available for sale Equity securities 55,309 55,309 — — Mutual funds invested in fixed income securities 20,518 20,518 — — Fixed income securities U.S. government securities 27,456 — 27,456 — Corporate securities 35,660 — 35,660 — U.S. government and federal agency 7,343 — 7,343 — Commercial mortgage-backed securities 3,675 — 3,675 — U.S. asset-backed securities 2,115 — 2,115 — Commercial paper 7,985 — 7,985 — Index-linked U.S. bonds 793 — 793 — Total fixed income securities 85,027 — 85,027 — Total investment securities available for sale 160,854 75,827 85,027 — Total $ 553,486 $ 423,439 $ 130,047 $ — Liabilities: Fair value of derivatives embedded within convertible debt $ 126,932 $ — $ — $ 126,932 Nonrecurring fair value measurements Long-term investments (1) $ 6,396 $ 6,396 $ (1,203 ) (1) Long-term investments with a carrying amount of $7,599 were written down to their fair value of $6,396 , resulting in an impairment charge of $1,203 , which was included in earnings. Fair Value Measurements as of December 31, 2015 Description Total Quoted Prices in Active Markets for Identical Assets Total Gains (Losses) Assets: Money market funds $ 93,915 $ 93,915 $ — $ — Certificates of deposit 3,469 — 3,469 — Bonds 12,767 12,767 — — Investment securities available for sale Equity securities 67,273 67,273 — — Mutual funds invested in fixed income securities 20,111 20,111 — — Fixed income securities U.S. government securities 28,132 — 28,132 — Corporate securities 41,561 — 41,561 — U.S. government and federal agency 5,790 — 5,790 — Commercial mortgage-backed securities 8,728 — 8,728 — U.S. asset-backed securities 8,276 — 8,276 — Index-linked U.S. bonds 2,105 — 2,105 — Total fixed income securities 94,592 — 94,592 — Total investment securities available for sale 181,976 87,384 94,592 — Total $ 292,127 $ 194,066 $ 98,061 $ — Liabilities: Fair value of derivatives embedded within convertible debt $ 144,042 $ — $ — $ 144,042 Nonrecurring fair value measurements Long-term investments (1) $ 11,189 $ 11,189 $ (811 ) Investments in real estate, net (2) 3,780 3,780 (230 ) $ 14,969 $ 14,969 $ (1,041 ) (1) Long-term investments with a carrying amount of $12,000 were written down to their fair value of $11,189 , resulting in an impairment charge of $811 , which was included in earnings. (2) Investment in real estate, net with a carrying value of $4,010 was written down to its fair value of $3,780 , resulting in an impairment charge of $230 , which was included in earnings. The fair value of the Level 2 certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is the rate offered by the financial institution. The fair value of investment securities available for sale included in Level 1 are based on quoted market prices from various stock exchanges. The Level 2 investment securities available for sale are based on quoted market prices of securities that are thinly traded. The fair value of derivatives embedded within convertible debt was derived using a valuation model. These derivatives have been classified as Level 3. The valuation model assumes future dividend payments by the Company and utilizes interest rates and credit spreads based upon the implied credit spread of the 5.50% Convertible Notes due 2020 to determine the fair value of the derivatives embedded within the convertible debt. The changes in fair value of derivatives embedded within convertible debt are presented on the consolidated statements of operations. The value of the embedded derivatives is contingent on changes in implied interest rates of the convertible debt, the Company's stock price, stock volatility as well as projections of future cash and stock dividends over the term of the debt. The interest rate component of the value of the embedded derivative is computed by calculating an equivalent non-convertible, unsecured and subordinated borrowing cost. This rate is determined by calculating the implied rate on the Company's 2020 Convertible Notes when removing the embedded option value within the convertible security. This rate is based upon market observable inputs and influenced by the Company's stock price, convertible bond trading price, risk free interest rates and stock volatility. The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at June 30, 2016 : Quantitative Information about Level 3 Fair Value Measurements Fair Value at June 30, Valuation Technique Unobservable Input Range (Actual) Fair value of derivatives embedded within convertible debt $ 126,932 Discounted cash flow Assumed annual stock dividend 5 % Assumed annual cash dividend $ 1.60 Stock price $ 22.42 Convertible trading price (as a percentage of par value) 110.88 % Volatility 19.33 % Risk-free rate Term structure of US Treasury Securities Implied credit spread 6.0% - 7.0% (6.5%) The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at December 31, 2015 : Quantitative Information about Level 3 Fair Value Measurements Fair Value at December 31, Valuation Technique Unobservable Input Range (Actual) Fair value of derivatives embedded within convertible debt $ 144,042 Discounted cash flow Assumed annual stock dividend 5 % Assumed annual cash dividend $ 1.60 Stock price $ 23.59 Convertible trading price (as a percentage of par value) 114.31 % Volatility 18.30 % Risk-free rate Term structure of US Treasury Securities Implied credit spread 5.0% - 5.5% (5.25%)

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company's significant business segments for the three and six months ended June 30, 2016 and 2015 were Tobacco, E-Cigarettes and Real Estate. The Tobacco segment consists of the manufacture and sale of conventional cigarettes. The E-Cigarettes segment includes the operations of the Company's e-cigarette business. The Real Estate segment includes the Company’s investment in New Valley LLC, which includes Douglas Elliman, Escena, Sagaponack and investments in real estate ventures. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Financial information for the Company’s operations before taxes and non-controlling interests for the three and six months ended June 30, 2016 and 2015 were as follows: Real Corporate Tobacco E-Cigarettes Estate and Other Total Three months ended June 30, 2016 Revenues $ 255,498 $ 10 $ 182,765 $ — $ 438,273 Operating income (loss) 66,016 (91 ) 11,706 (6,911 ) 70,720 Equity in earnings from real estate ventures — — 2,813 — 2,813 Depreciation and amortization 2,499 — 2,943 428 5,870 Three months ended June 30, 2015 Revenues $ 254,890 $ 261 $ 161,022 $ — $ 416,173 Operating income (loss) 56,215 (1) (2,400 ) 6,892 (4,904 ) 55,803 Equity in earnings from real estate ventures — — 1,856 — 1,856 Depreciation and amortization 2,931 — 3,076 435 6,442 Six months ended June 30, 2016 Revenues $ 476,513 $ 48 $ 342,512 $ — $ 819,073 Operating income (loss) 127,499 (2) (284 ) 19,380 (13,716 ) 132,879 Equity in earnings from real estate ventures — — 2,306 — 2,306 Depreciation and amortization 4,939 — 5,225 870 11,034 Capital expenditures 3,716 — 3,873 26 7,615 Six months ended June 30, 2015 Revenues $ 482,975 $ 680 $ 293,278 $ — $ 776,933 Operating income (loss) 105,885 (3) (5,564 ) 9,043 (9,843 ) 99,521 Equity in earnings from real estate ventures — — 2,194 — 2,194 Depreciation and amortization 5,867 — 5,984 872 12,723 Capital expenditures 2,350 — 3,029 — 5,379 (1) Operating income includes $1,250 of litigation settlement expense and $1,607 of pension settlement expense. (2) Operating income includes $2,350 of litigation settlement expense, and $41 of restructuring expense. (3) Operating income includes $2,093 of litigation settlement expense and $1,607 of pension settlement expense.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	CONDENSED CONSOLIDATING FINANCIAL INFORMATION The accompanying condensed consolidating financial information has been prepared and presented pursuant to Securities and Exchange Commission (“SEC”) Regulation S-X, Rule 3-10, “Financial Statements of Guarantors and Affiliates Whose Securities Collateralize an Issue Registered or Being Registered.” Each of the subsidiary guarantors is 100% owned, directly or indirectly, by the Company, and all guarantees are full and unconditional and joint and several. The Company’s investments in its consolidated subsidiaries are presented under the equity method of accounting. The Company has outstanding $835,000 principal amount of its 7.75% Senior Secured Notes due 2021 that are guaranteed subject to certain customary automatic release provisions on a joint and several basis by all of the 100% owned domestic subsidiaries of the Company that are engaged in the conduct of its cigarette businesses. (See Note 6 ). The notes are not guaranteed by any of the Company’s subsidiaries engaged in the real estate businesses conducted through its subsidiary New Valley. Presented herein are Condensed Consolidating Balance Sheets as of June 30, 2016 and December 31, 2015 , the related Condensed Consolidating Statements of Operations for the three and six months ended June 30, 2016 and the related Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 2016 and 2015 of Vector Group. (Parent/Issuer), the guarantor subsidiaries (Subsidiary Guarantors) and the subsidiaries that are not guarantors (Subsidiary Non-Guarantors). The indenture contains covenants that restrict the payment of dividends by the Company if the Company’s consolidated earnings before interest, taxes, depreciation and amortization (“Consolidated EBITDA”), as defined in the indenture, for the most recently ended four full quarters is less than $75,000 . The indenture also restricts the incurrence of debt if the Company’s Leverage Ratio and its Secured Leverage Ratio, as defined in the indenture, exceed 3.0 and 1.5 , respectively. The Company’s Leverage Ratio is defined in the indenture as the ratio of the Company’s and the guaranteeing subsidiaries’ total debt less the fair market value of the Company’s cash, investments in marketable securities and long-term investments to Consolidated EBITDA, as defined in the indenture. The Company’s Secured Leverage Ratio is defined in the indenture in the same manner as the Leverage Ratio, except that secured indebtedness is substituted for indebtedness. CONDENSED CONSOLIDATING BALANCE SHEETS June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. ASSETS: Current assets: Cash and cash equivalents $ 335,034 $ 32,246 $ 107,458 $ — $ 474,738 Investment securities available for sale 120,283 40,571 — — 160,854 Accounts receivable - trade, net — 15,015 10,061 — 25,076 Intercompany receivables 16,435 — — (16,435 ) — Inventories — 92,735 — — 92,735 Income taxes receivable, net 12,342 — — (12,124 ) 218 Restricted assets — 8,523 914 — 9,437 Other current assets 618 3,794 35,751 — 40,163 Total current assets 484,712 192,884 154,184 (28,559 ) 803,221 Property, plant and equipment, net 1,452 51,122 19,330 — 71,904 Investments in real estate, net — — 23,328 — 23,328 Long-term investments 58,414 454 501 — 59,369 Investments in real estate ventures — — 206,139 — 206,139 Investments in consolidated subsidiaries 517,365 — — (517,365 ) — Restricted assets 1,720 7,666 — — 9,386 Goodwill and other intangible assets, net — 107,511 155,355 — 262,866 Prepaid pension costs — 21,302 — — 21,302 Other assets 7,621 12,002 2,362 — 21,985 Total assets $ 1,071,284 $ 392,941 $ 561,199 $ (545,924 ) $ 1,479,500 LIABILITIES AND STOCKHOLDERS' DEFICIENCY: Current liabilities: Current portion of notes payable and long-term debt $ — $ 16,523 $ 92 $ — $ 16,615 Current portion of employee benefits — 914 — — 914 Intercompany payables — 585 15,850 (16,435 ) — Income taxes payable, net — 11,501 623 (12,124 ) — Litigation accruals and current payments due under the Master Settlement Agreement — 60,486 — — 60,486 Other current liabilities 44,520 55,350 40,518 — 140,388 Total current liabilities 44,520 145,359 57,083 (28,559 ) 218,403 Notes payable, long-term debt and other obligations, less current portion 1,104,171 6,338 222 — 1,110,731 Fair value of derivatives embedded within convertible debt 126,932 — — — 126,932 Non-current employee benefits 40,075 15,233 — — 55,308 Deferred income taxes, net 7,826 35,138 44,950 — 87,914 Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement 5,285 45,010 5,353 — 55,648 Total liabilities 1,328,809 247,078 107,608 (28,559 ) 1,654,936 Commitments and contingencies Stockholders' (deficiency) equity attributed to Vector Group Ltd. (257,525 ) 145,863 371,502 (517,365 ) (257,525 ) Non-controlling interest — — 82,089 — 82,089 Total stockholders' (deficiency) equity (257,525 ) 145,863 453,591 (517,365 ) (175,436 ) Total liabilities and stockholders' deficiency $ 1,071,284 $ 392,941 $ 561,199 $ (545,924 ) $ 1,479,500 CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. ASSETS: Current assets: Cash and cash equivalents $ 111,470 $ 12,375 $ 116,523 $ — $ 240,368 Investment securities available for sale 131,810 50,166 — — 181,976 Accounts receivable - trade, net — 15,913 7,976 — 23,889 Intercompany receivables 11,293 — — (11,293 ) — Inventories — 86,516 — — 86,516 Income taxes receivable, net 8,213 — — (5,372 ) 2,841 Restricted assets — 7,781 1,414 — 9,195 Other current assets 575 3,747 34,632 — 38,954 Total current assets 263,361 176,498 160,545 (16,665 ) 583,739 Property, plant and equipment, net 1,711 54,097 19,824 — 75,632 Investments in real estate, net — — 23,318 — 23,318 Long-term investments 61,747 478 501 — 62,726 Investments in real estate ventures — — 217,168 — 217,168 Investments in consolidated subsidiaries 532,501 — — (532,501 ) — Restricted assets 1,713 10,590 — — 12,303 Goodwill and other intangible assets, net — 107,511 156,448 — 263,959 Prepaid pension costs — 20,650 — — 20,650 Other assets 7,582 11,769 1,769 — 21,120 Total assets $ 868,615 $ 381,593 $ 579,573 $ (549,166 ) $ 1,280,615 LIABILITIES AND STOCKHOLDERS' DEFICIENCY: Current liabilities: Current portion of notes payable and long-term debt $ — $ 8,733 $ 186 $ — $ 8,919 Current portion of employee benefits — 915 — — 915 Intercompany payables — 586 10,707 (11,293 ) — Income taxes payable, net — 5,464 4 (5,372 ) 96 Litigation accruals and current payments due under the Master Settlement Agreement — 52,145 — — 52,145 Other current liabilities 38,140 74,083 41,994 — 154,217 Total current liabilities 38,140 141,926 52,891 (16,665 ) 216,292 Notes payable, long-term debt and other obligations, less current portion 848,368 7,519 221 — 856,108 Fair value of derivatives embedded within convertible debt 144,042 — — — 144,042 Non-current employee benefits 39,244 15,811 — — 55,055 Deferred income taxes, net 2,675 33,791 42,963 — 79,429 Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement 2,193 44,982 4,675 — 51,850 Total liabilities 1,074,662 244,029 100,750 (16,665 ) 1,402,776 Commitments and contingencies Stockholders' (deficiency) equity attributed to Vector Group Ltd. (206,047 ) 137,564 394,937 (532,501 ) (206,047 ) Non-controlling interest — — 83,886 — 83,886 Total stockholders' (deficiency) equity (206,047 ) 137,564 478,823 (532,501 ) (122,161 ) Total liabilities and stockholders' deficiency $ 868,615 $ 381,593 $ 579,573 $ (549,166 ) $ 1,280,615 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 255,648 $ 182,765 $ (140 ) $ 438,273 Expenses: Cost of sales — 168,614 115,017 — 283,631 Operating, selling, administrative and general expenses 9,019 18,943 56,100 (140 ) 83,922 Management fee expense — 2,663 — (2,663 ) — Operating (loss) income (9,019 ) 65,428 11,648 2,663 70,720 Other income (expenses): Interest expense (35,522 ) (843 ) (4 ) — (36,369 ) Change in fair value of derivatives embedded within convertible debt 7,416 — — — 7,416 Equity in earnings from real estate ventures — — 2,813 — 2,813 Equity in earnings (loss) from investments 1,097 (8 ) — — 1,089 Gain on sale of investment securities available for sale 139 — — — 139 Impairment of investment securities available for sale (49 ) — — — (49 ) Equity in earnings in consolidated subsidiaries 46,441 — — (46,441 ) — Management fee income 2,663 — — (2,663 ) — Other, net (93 ) 244 430 — 581 Income before provision for income taxes 13,073 64,821 14,887 (46,441 ) 46,340 Income tax benefit (expense) 10,942 (24,907 ) (5,038 ) — (19,003 ) Net income 24,015 39,914 9,849 (46,441 ) 27,337 Net income attributed to non-controlling interest — — (3,322 ) — (3,322 ) Net income attributed to Vector Group Ltd. $ 24,015 $ 39,914 $ 6,527 $ (46,441 ) $ 24,015 Comprehensive income attributed to non-controlling interest $ — $ — $ (3,322 ) $ — $ (3,322 ) Comprehensive income attributed to Vector Group Ltd. $ 23,746 $ 39,793 $ 6,527 $ (46,320 ) $ 23,746 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended June 30, 2015 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 255,291 $ 161,022 $ (140 ) $ 416,173 Expenses: Cost of sales — 175,334 103,870 — 279,204 Operating, selling, administrative and general expenses 7,174 22,555 50,327 (140 ) 79,916 Litigation settlement and judgment expense — 1,250 — — 1,250 Management fee expense — 2,563 — (2,563 ) — Operating (loss) income (7,174 ) 53,589 6,825 2,563 55,803 Other income (expenses): Interest expense (30,880 ) (879 ) (2 ) — (31,761 ) Change in fair value of derivatives embedded within convertible debt 5,256 — — — 5,256 Equity in earnings from real estate ventures — — 1,856 — 1,856 Equity in loss from investments (2,147 ) (16 ) — — (2,163 ) Loss on sale of investment securities available for sale (190 ) — — — (190 ) Equity in earnings in consolidated subsidiaries 35,745 — — (35,745 ) — Management fee income 2,563 — — (2,563 ) — Other, net 1,192 200 429 — 1,821 Income before provision for income taxes 4,365 52,894 9,108 (35,745 ) 30,622 Income tax benefit (expense) 13,242 (21,219 ) (3,201 ) — (11,178 ) Net income 17,607 31,675 5,907 (35,745 ) 19,444 Net income attributed to non-controlling interest — — (1,837 ) — (1,837 ) Net income attributed to Vector Group Ltd. $ 17,607 $ 31,675 $ 4,070 $ (35,745 ) $ 17,607 Comprehensive income attributed to non-controlling interest $ — $ — $ (1,837 ) $ — $ (1,837 ) Comprehensive income attributed to Vector Group Ltd. $ 17,834 $ 31,131 $ 4,070 $ (35,201 ) $ 17,834 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Six Months Ended June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 476,790 $ 342,512 $ (229 ) $ 819,073 Expenses: Cost of sales — 305,358 214,695 — 520,053 Operating, selling, administrative and general expenses 18,215 37,216 108,548 (229 ) 163,750 Litigation settlement and judgment expense — 2,350 — — 2,350 Management fee expense — 5,325 — (5,325 ) — Restructuring charges — 41 — — 41 Operating (loss) income (18,215 ) 126,500 19,269 5,325 132,879 Other income (expenses): Interest expense (65,280 ) (1,802 ) (7 ) — (67,089 ) Change in fair value of derivatives embedded within convertible debt 17,110 — — — 17,110 Equity in earnings from real estate ventures — — 2,306 — 2,306 Equity in losses from investments (558 ) (24 ) — — (582 ) Gain on sale of investment securities available for sale 315 391 — — 706 Impairment of investment securities available for sale (90 ) (4,772 ) — — (4,862 ) Equity in earnings in consolidated subsidiaries 82,051 — — (82,051 ) — Management fee income 5,325 — — (5,325 ) — Other, net 307 481 840 — 1,628 Income before provision for income taxes 20,965 120,774 22,408 (82,051 ) 82,096 Income tax benefit (expense) 22,388 (48,293 ) (7,461 ) — (33,366 ) Net income 43,353 72,481 14,947 (82,051 ) 48,730 Net income attributed to non-controlling interest — — (5,377 ) — (5,377 ) Net income attributed to Vector Group Ltd. $ 43,353 $ 72,481 $ 9,570 $ (82,051 ) $ 43,353 Comprehensive income attributed to non-controlling interest $ — $ — $ (5,377 ) $ — $ (5,377 ) Comprehensive income attributed to Vector Group Ltd. $ 43,127 $ 72,503 $ 9,570 $ (82,073 ) $ 43,127 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Six Months Ended June 30, 2015 Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 483,914 $ 293,278 $ (259 ) $ 776,933 Expenses: Cost of sales — 332,994 188,228 — 521,222 Operating, selling, administrative and general expenses 14,368 43,892 96,096 (259 ) 154,097 Litigation settlement and judgment expense — 2,093 — — 2,093 Management fee expense — 5,125 — (5,125 ) — Operating (loss) income (14,368 ) 99,810 8,954 5,125 99,521 Other income (expenses): Interest expense (61,634 ) (1,870 ) (3 ) — (63,507 ) Change in fair value of derivatives embedded within convertible debt 11,716 — — — 11,716 Equity in earnings from real estate ventures — — 2,194 — 2,194 (Loss) gain on sale of investment securities available for sale (336 ) 13,175 — — 12,839 Equity in losses from investments (1,543 ) (8 ) — — (1,551 ) Equity in earnings in consolidated subsidiaries 71,744 — — (71,744 ) — Management fee income 5,125 — — (5,125 ) — Other, net 2,257 520 981 — 3,758 Income before provision for income taxes 12,961 111,627 12,126 (71,744 ) 64,970 Income tax benefit (expense) 25,867 (45,403 ) (4,509 ) — (24,045 ) Net income 38,828 66,224 7,617 (71,744 ) 40,925 Net income attributed to non-controlling interest — — (2,097 ) — (2,097 ) Net income attributed to Vector Group Ltd. $ 38,828 $ 66,224 $ 5,520 $ (71,744 ) $ 38,828 Comprehensive income attributed to non-controlling interest $ — $ — $ (2,097 ) $ — $ (2,097 ) Comprehensive income attributed to Vector Group Ltd. $ 44,037 $ 63,398 $ 5,520 $ (68,918 ) $ 44,037 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Net cash provided by operating activities $ 73,915 $ 75,513 $ 28,437 $ (99,040 ) $ 78,825 Cash flows from investing activities: Sale of investment securities 62,312 4,721 — — 67,033 Maturities of investment securities 343 — — — 343 Purchase of investment securities (56,691 ) — — — (56,691 ) Proceeds from sale or liquidation of long-term investments 1,000 — — — 1,000 Purchase of long-term investments — — (50 ) — (50 ) Investments in real estate ventures — — (11,806 ) — (11,806 ) Distributions from investments in real estate ventures — — 17,983 — 17,983 Increase in cash surrender value of life insurance policies — (393 ) — — (393 ) (Increase) decrease in restricted assets (7 ) 2,181 500 — 2,674 Investments in subsidiaries (987 ) — — 987 — Proceeds from sale of fixed assets — 4 1 — 5 Capital expenditures (26 ) (3,716 ) (3,873 ) — (7,615 ) Pay downs of investment securities 4,926 — — — 4,926 Investments in real estate, net — — (81 ) — (81 ) Net cash provided by investing activities 10,870 2,797 2,674 987 17,328 Cash flows from financing activities: Proceeds from issuance of debt 243,225 — 57 — 243,282 Deferred financing costs (6,600 ) — — — (6,600 ) Repayments of debt — (2,863 ) (54 ) — (2,917 ) Borrowings under revolver — 89,695 — — 89,695 Repayments on revolver — (80,223 ) — — (80,223 ) Capital contributions received — 600 387 (987 ) — Intercompany dividends paid — (65,648 ) (33,392 ) 99,040 — Dividends and distributions on common stock (97,846 ) — — — (97,846 ) Contributions from non-controlling interest — — 248 — 248 Distributions to non-controlling interest — — (7,422 ) — (7,422 ) Net cash provided by (used in) financing activities 138,779 (58,439 ) (40,176 ) 98,053 138,217 Net increase (decrease) in cash and cash equivalents 223,564 19,871 (9,065 ) — 234,370 Cash and cash equivalents, beginning of period 111,470 12,375 116,523 — 240,368 Cash and cash equivalents, end of period $ 335,034 $ 32,246 $ 107,458 $ — $ 474,738 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2015 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Net cash provided by operating activities $ 42,679 $ 99,159 $ 13,057 $ (71,010 ) $ 83,885 Cash flows from investing activities: Sale of investment securities 103,846 14,415 — — 118,261 Maturities of investment securities 1,737 — — — 1,737 Purchase of investment securities (112,119 ) (1,476 ) — — (113,595 ) Proceeds from sale or liquidation of long-term investments 1,106 — 148 — 1,254 Purchase of long-term investments (5,000 ) — — — (5,000 ) Investments in real estate ventures — — (34,857 ) — (34,857 ) Investments in real estate, net — — (12,502 ) — (12,502 ) Increase in cash surrender value of life insurance policies (717 ) (401 ) — — (1,118 ) Increase in restricted assets (1,327 ) (6,607 ) — — (7,934 ) Issuance of notes receivable — — (4,410 ) — (4,410 ) Pay downs of investment securities 3,530 — — — 3,530 Proceeds from sale of fixed assets — 3 — — 3 Investments in subsidiaries (42,808 ) — — 42,808 — Proceeds from sale of preferred securities — — 1,000 1,000 Capital expenditures — (2,350 ) (3,029 ) — (5,379 ) Net cash (used in) provided by investing activities (51,752 ) 3,584 (53,650 ) 42,808 (59,010 ) Cash flows from financing activities: Proceeds from issuance of debt — 22 — — 22 Deferred financing costs — (625 ) — — (625 ) Repayments of debt — (3,254 ) (120 ) — (3,374 ) Borrowings under revolver — 126,727 — — 126,727 Repayments on revolver — (144,492 ) — — (144,492 ) Capital contributions received — 2,250 40,558 (42,808 ) — Intercompany dividends paid — (69,075 ) (1,935 ) 71,010 — Dividends and distributions on common stock (92,778 ) — — — (92,778 ) Proceeds from exercise of Vector options 1,219 — — — 1,219 Tax benefit of options exercised 384 — — — 384 Net cash (used in) provided by financing activities (91,175 ) (88,447 ) 38,503 28,202 (112,917 ) Net (decrease) increase in cash and cash equivalents (100,248 ) 14,296 (2,090 ) — (88,042 ) Cash and cash equivalents, beginning of period 211,751 9,724 104,890 — 326,365 Cash and cash equivalents, end of period $ 111,503 $ 24,020 $ 102,800 $ — $ 238,323

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation : The condensed consolidated financial statements of Vector Group Ltd. (the “Company” or “Vector”) include the accounts of VGR Holding LLC (“VGR Holding”), Liggett Group LLC (“Liggett”), Vector Tobacco Inc. (“Vector Tobacco”), Liggett Vector Brands LLC (“Liggett Vector Brands”), Zoom E-Cigs LLC (“Zoom”), New Valley LLC (“New Valley”) and other less significant subsidiaries. New Valley includes the accounts of Douglas Elliman Realty, LLC (“Douglas Elliman”) and other less significant subsidiaries. All intercompany balances and transactions have been eliminated. Liggett and Vector Tobacco are engaged in the manufacture and sale of cigarettes in the United States. Zoom is engaged in the sale of electronic cigarettes in the United States. New Valley is engaged in the real estate business.
Basis of Accounting	The unaudited, interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and, in management's opinion, contain all adjustments, consisting only of normal recurring items, necessary for a fair statement of the results for the periods presented. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission. The consolidated results of operations for interim periods should not be regarded as necessarily indicative of the results that may be expected for the entire year.
Adoption of Equity Method		Adoption of Equity Method. The Company adopted the equity method of accounting for its investments in Ladenburg Thalmann Financial Services Inc. (“LTS”) and Castle Brands Inc. (“Castle”) in 2015 because the Company determined that it had significant influence due to the evolution of the relationships with each company. In accordance with ASC 323-35-33, the Company has adjusted its condensed consolidated financial statements, retrospectively, on a step-by-step basis as if the equity method had been in effect since inception.
Distributions and Dividends on Common Stock	Distributions and Dividends on Common Stock : The Company records distributions on its common stock as dividends in its condensed consolidated statement of stockholders' deficiency to the extent of retained earnings and accumulated paid-in capital. Any amounts exceeding retained earnings are recorded as a reduction to additional paid-in capital to the extent paid-in-capital is available. The Company’s stock dividends are recorded as stock splits and given retroactive effect to earnings per share for all periods presented.
Revenue Recognition	Revenue Recognition : Tobacco and E-Cigarettes sales: Revenues from sales are recognized upon the shipment of finished goods when title and risk of loss have passed to the customer, there is persuasive evidence of an arrangement, the sale price is fixed or determinable and collectibility is reasonably assured. The Company provides an allowance for expected sales returns, net of any related inventory cost recoveries (e.g. federal excise taxes). Certain sales incentives, including promotional price discounts, are classified as reductions of net sales. The Company includes federal excise taxes on tobacco sales in revenues and cost of goods sold. Since the Company’s primary line of business is tobacco, the Company’s financial position and its results of operations and cash flows have been and could continue to be materially adversely affected by significant unit sales volume declines at the Company and industry levels, regulation, litigation and defense costs, increased tobacco costs or reductions in the selling price of cigarettes in the near term. Real estate sales: Revenue is recognized only when persuasive evidence of an arrangement exists, the price is fixed or determinable, the transaction has been completed and collectibility of the resulting receivable is reasonably assured. Real estate commissions earned by the Company’s real estate brokerage businesses are recorded as revenue on a gross basis upon the closing of a real estate transaction as evidenced when the escrow or similar account is closed, the transaction documents have been recorded and funds are distributed to all appropriate parties. Commission expenses are recognized concurrently with related revenues. Property management fees and rental commissions earned are recorded as revenue when the related services are performed and the earnings process is complete.
Revenue Recognition, Tobacco and E-Cigarettes sales	Tobacco and E-Cigarettes sales: Revenues from sales are recognized upon the shipment of finished goods when title and risk of loss have passed to the customer, there is persuasive evidence of an arrangement, the sale price is fixed or determinable and collectibility is reasonably assured. The Company provides an allowance for expected sales returns, net of any related inventory cost recoveries (e.g. federal excise taxes). Certain sales incentives, including promotional price discounts, are classified as reductions of net sales. The Company includes federal excise taxes on tobacco sales in revenues and cost of goods sold. Since the Company’s primary line of business is tobacco, the Company’s financial position and its results of operations and cash flows have been and could continue to be materially adversely affected by significant unit sales volume declines at the Company and industry levels, regulation, litigation and defense costs, increased tobacco costs or reductions in the selling price of cigarettes in the near term.
Revenue Recognition, Real estate sales	Real estate sales: Revenue is recognized only when persuasive evidence of an arrangement exists, the price is fixed or determinable, the transaction has been completed and collectibility of the resulting receivable is reasonably assured. Real estate commissions earned by the Company’s real estate brokerage businesses are recorded as revenue on a gross basis upon the closing of a real estate transaction as evidenced when the escrow or similar account is closed, the transaction documents have been recorded and funds are distributed to all appropriate parties. Commission expenses are recognized concurrently with related revenues. Property management fees and rental commissions earned are recorded as revenue when the related services are performed and the earnings process is complete.
Earnings Per Share (“EPS”)	Earnings Per Share (“EPS”) : Information concerning the Company's common stock has been adjusted to give retroactive effect to the 5% stock dividend paid to Company stockholders on September 29, 2015 . All per share amounts and references to share amounts have been updated to reflect the retrospective effect of the stock dividends.
Fair Value of Derivatives Embedded within Convertible Debt	Fair Value of Derivatives Embedded within Convertible Debt : The Company has estimated the fair value of the embedded derivatives based principally on the results of a valuation model. A readily determinable fair value of the embedded derivatives is not available. The estimated fair value of the derivatives embedded within the convertible debt is based principally on the present value of future dividend payments expected to be received by the convertible debt holders over the term of the debt. The discount rate applied to the future cash flows is estimated based on a spread in the yield of the Company's debt when compared to risk-free securities with the same duration. The valuation model assumes future dividend payments by the Company and utilizes interest rates and credit spreads for secured to unsecured debt, unsecured to subordinated debt and subordinated debt to preferred stock to determine the fair value of the derivatives embedded within the convertible debt. At June 30, 2016 , the range of estimated fair values of the Company's embedded derivatives was between $125,983 and $127,870 . The Company recorded the fair value of its embedded derivatives at the approximate midpoint of the range at $126,932 as of June 30, 2016 . At December 31, 2015 , the range of estimated fair values of the Company's embedded derivatives was between $143,422 and $144,660 . The Company recorded the fair value of its embedded derivatives at the midpoint of the range at $144,042 as of December 31, 2015 . The estimated fair value of the Company's embedded derivatives could change significantly based on future market conditions. (See Note 6 .)
Investment in Real Estate Ventures	Investment in Real Estate Ventures: The Company's investment in real estate ventures are subject to evaluation under ASU No. 2015-02, “Consolidation” (“ASU 2015-02”) which requires all legal entities to be evaluated as either a voting interest entity or a Variable Interest Entities (“VIE”). The guidance is effective for financial statements of public companies issued for fiscal years beginning after December 15, 2015. The Company has followed the decision tree set forth in ASC 810-10-05-6 in analyzing each of its investments in real estate ventures. The Company examines specific criteria and uses judgment when determining if the real estate venture is a VIE and then if the Company is the primary beneficiary of a VIE. Factors considered in the qualification of a VIE include sufficient equity investment at risk, disproportionate voting rights and substantially all of the activities are conducted on behalf of an investor with disproportionately few voting rights, and characteristics of a controlling financial interest. Accounting guidance requires the Company to perform the VIE primary-beneficiary assessment for entities determined to be VIEs. The Company is required to consolidate all VIEs in which the Company is the primary beneficiary. The guidance requires consolidation of VIEs that a reporting entity has a controlling financial interest. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly affect the VIE's economic performance and (b) the obligation to absorb losses or the right to receive residual returns of the VIE that could potentially be significant to the VIE. The Company's maximum exposure to loss in its investments in unconsolidated VIEs is limited to its investment in the unconsolidated VIEs which is the carrying value. The Company's maximum exposure to loss in its investment in its consolidated VIEs is limited to its investment which is the carrying value of the investment net of the non-controlling interest. Creditors of the consolidated VIEs have no recourse to the general credit of the primary beneficiary.
New Accounting Pronouncements	Revisions to December 31, 2015 Consolidated Balance Sheet. In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest” (“ASU 2015-03”), which requires debt issuance costs to be reported in the balance sheet as a direct deduction from the face amount of the note. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015. This amendment must be applied retrospectively to all periods presented. The Company adopted the provisions of this ASU retrospectively in the first quarter of 2016, and adjusted all prior periods accordingly. The adoption of this ASU will simplify the presentation of debt issuance costs and reduce complexity without decreasing the usefulness of information provided to users of financial statements. New Accounting Pronouncements : In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 modifies U.S. Generally Accepted Accounting Principles (“GAAP”) by requiring the following, among others: (1) all excess tax benefits and tax deficiencies are to be recognized as income tax expense or benefit on the income statement (excess tax benefits are recognized regardless of whether the benefit reduces taxes payable in the current period); (2) excess tax benefits are to be classified along with other income tax cash flows as an operating activity in the statement of cash flows; (3) in the area of forfeitures, an entity can still follow the current U.S. GAAP practice of making an entity-wide accounting policy election to estimate the number of awards that are expected to vest or may instead account for forfeitures when they occur; and (4) classification as a financing activity in the statement of cash flows of cash paid by an employer to the taxing authorities when directly withholding shares for tax withholding purposes. ASU 2016-09 is effective for the Company's fiscal year beginning January 1, 2017, including interim periods. Early application is permitted. The Company is currently assessing the impact the adoption of ASU 2016-09 will have on the Company's condensed consolidated financial statements. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (“ASU 2016-08”). ASU 2016-08 does not change the core principle of the guidance stated in ASU 2014-09, instead, the amendments in this ASU are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations and whether an entity reports revenue on a gross or net basis. ASU 2016-08 will have the same effective date and transition requirements as the new revenue standard issued in ASU 2014-09. The Company is currently evaluating the method and impact the adoption of this ASU and ASU 2014-09 will have on the Company's condensed consolidated financial statements. In March 2016, the FASB issued ASU 2016-07, Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting (“ASU 2016-07”). ASU 2016-07 eliminates the requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant influence over a previously held investment. ASU 2016-07 will be effective for the Company’s fiscal year beginning January 1, 2017 and subsequent interim periods. The adoption of ASU 2016-07 is not expected to have a material effect on the Company’s condensed consolidated financial statements. In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (a consensus of the Emerging Issues Task Force) (“ASU 2016-06”). ASU 2016-06 clarifies the requirement for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under ASU 2016-06 is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. The amendments in ASU 2016-06 are effective for the Company's fiscal year beginning January 1, 2017, including interim periods. The Company is currently evaluating the method and impact the adoption of this ASU 2016-06 will have on the Company's condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight line basis over the term of the lease. Accounting for lessors remains largely unchanged from current U.S. GAAP. ASU 2016-02 will be effective for the Company’s fiscal year beginning January 1, 2019 and subsequent interim periods. The Company is currently evaluating the impact the adoption of ASU 2016-02 will have on the Company's condensed consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. A practicality exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value under ASC 820, Fair Value Measurements, and as such these investments may be measured at cost. ASU 2016-01 will be effective for the Company’s fiscal year beginning January 1, 2018 and subsequent interim periods. The Company is currently evaluating the impact the adoption of ASU 2016-01 will have on the Company’s condensed consolidated financial statements. In May 2014, FASB issued ASU 2014-9, Revenue from Contracts with Customers (Topic 606), (“ASU 2014-9”). ASU 2014-9 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. As amended by ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date the new standard is effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning subsequent to December 15, 2016. The new standard is required to be applied retrospectively to each prior reporting period presented or with the cumulative effect of initially applying it recognized at the date of initial application. The Company has not yet selected a transition method and it has not determined the impact of the new standard on the Company's condensed consolidated financial statements.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Schedule of impacts of application of new ASU	The cumulative impacts of the application of the new ASU are presented in the table below: December 31, 2015 As Previously Reported ASU Adoption As Revised Other assets $ 51,261 $ (30,141 ) $ 21,120 Total assets $ 1,310,756 $ (30,141 ) $ 1,280,615 Notes payable, long-term debt and other obligations, less current portion $ 886,249 $ (30,141 ) $ 856,108 Total liabilities 1,432,917 (30,141 ) 1,402,776 Total stockholders' deficiency (122,161 ) — (122,161 ) Total liabilities and stockholders' deficiency $ 1,310,756 $ (30,141 ) $ 1,280,615	The cumulative impact of the retrospective application of the equity method of accounting for the two investments are presented in the table below: Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 As Previously Reported Revision As Revised As Previously Reported Revision As Revised Operating, selling, administrative and general expenses $ 79,679 $ 237 $ 79,916 $ 153,623 $ 474 $ 154,097 Operating income 56,040 (237 ) 55,803 99,995 (474 ) 99,521 Equity in losses from investments (1,657 ) (506 ) (2,163 ) (1,694 ) 143 (1,551 ) Other, net 1,525 296 1,821 3,421 337 3,758 Income before provision for income taxes 31,069 (447 ) 30,622 64,964 6 64,970 Income tax expense 11,364 (186 ) 11,178 24,043 2 24,045 Net income 19,705 (261 ) 19,444 40,921 4 40,925 Net income attributed to Vector Group Ltd. 17,868 (261 ) 17,607 38,824 4 38,828 Other comprehensive (loss) income, net of tax (2,781 ) 3,008 227 (782 ) 5,991 5,209 Comprehensive income 16,924 2,747 19,671 40,139 5,995 46,134 Comprehensive income attributed to Vector Group Ltd. $ 15,087 $ 2,747 $ 17,834 $ 38,042 $ 5,995 $ 44,037
Net income for purposes of determining basic and diluted EPS	Net income for purposes of determining basic and diluted EPS was as follows: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Net income attributed to Vector Group Ltd. $ 24,015 $ 17,607 $ 43,353 $ 38,828 Income attributed to participating securities (784 ) (521 ) (1,417 ) (1,151 ) Net income available to common shares attributed to Vector Group Ltd. $ 23,231 $ 17,086 $ 41,936 $ 37,677
Basic and diluted EPS calculation shares	Basic and diluted EPS were calculated using the following common shares: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Weighted-average shares for basic EPS 118,065,857 117,954,708 118,062,358 117,475,380 Plus incremental shares related to stock options and non-vested restricted stock 236,348 209,067 215,386 205,262 Weighted-average shares for diluted EPS 118,302,205 118,163,775 118,277,744 117,680,642
Outstanding shares not included in the computation of diluted EPS	The following were outstanding during the three and six months ended June 30, 2016 and 2015 , but were not included in the computation of diluted EPS because the effect was anti-dilutive. Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Weighted-average number of shares issuable upon conversion of debt 24,895,477 24,895,477 24,895,477 25,334,835 Weighted-average conversion price $ 19.63 $ 19.63 $ 19.63 $ 19.48
Schedule of other income (loss), net	Other income, net consisted of: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest and dividend income $ 1,452 $ 1,795 $ 2,776 $ 3,535 Gain on long-term investment — 24 — 224 Impairment of long-term investments (921 ) — (1,203 ) — Other income (expense) 50 2 55 (1 ) Other income, net $ 581 $ 1,821 $ 1,628 $ 3,758
Schedule of other current liabilities	Other current liabilities consisted of: June 30, 2016 December 31, 2015 Accounts payable $ 10,265 $ 19,639 Accrued promotional expenses 22,269 24,816 Accrued excise and payroll taxes payable, net 16,784 26,556 Accrued interest 35,028 28,147 Commissions payable 9,885 11,008 Accrued salary and benefits 18,179 22,774 Other current liabilities 27,978 21,277 Total other current liabilities $ 140,388 $ 154,217
Schedule of goodwill and other intangible assets, net	The components of “Goodwill and other intangible assets, net” were as follows: June 30, December 31, Goodwill $ 70,791 $ 70,791 Indefinite life intangibles: Intangible asset associated with benefit under the MSA 107,511 107,511 Trademark - Douglas Elliman 80,000 80,000 Intangibles with a finite life, net 4,564 5,657 Total goodwill and other intangible assets, net $ 262,866 $ 263,959

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories consist of: June 30, December 31, Leaf tobacco $ 49,537 $ 49,856 Other raw materials 3,586 3,578 Work-in-process 606 789 Finished goods 67,219 61,493 E-Cigarettes 67 80 Inventories at current cost 121,015 115,796 LIFO adjustments (28,280 ) (29,280 ) $ 92,735 $ 86,516

Investment Securities Availab25

Investment Securities Available for Sale (Tables)	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities	The components of investment securities available for sale at June 30, 2016 were as follows: Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable equity securities $ 38,172 $ 17,343 $ (206 ) $ 55,309 Mutual funds invested in fixed income securities 20,307 211 — 20,518 Marketable debt securities 83,865 1,162 — 85,027 Total investment securities available for sale $ 142,344 $ 18,716 $ (206 ) $ 160,854 The components of investment securities available for sale at December 31, 2015 were as follows: Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Marketable equity securities $ 47,502 $ 19,833 $ (62 ) $ 67,273 Mutual funds invested in fixed income securities 20,126 — (15 ) 20,111 Marketable debt securities 94,540 52 — 94,592 Total investment securities available for sale $ 162,168 $ 19,885 $ (77 ) $ 181,976
Schedule of Maturity Dates of Fixed Income Securities	The table below summarizes the maturity dates of marketable debt securities at June 30, 2016 . Investment Type: Market Value Under 1 Year 1 Year up to 5 Years More than 5 Years U.S. Government securities $ 27,456 $ — $ 27,456 $ — Corporate securities 35,660 2,271 33,389 — U.S. mortgage-backed securities 7,343 — 49 7,294 Commercial mortgage-backed securities 3,675 — — 3,675 U.S. asset-backed securities 2,115 — 2,115 — Commercial paper 7,985 7,985 — — Index-linked U.S. bonds 793 — 793 — Total marketable debt securities by maturity dates $ 85,027 $ 10,256 $ 63,802 $ 10,969
Schedule of Unrealized Loss on Investments	The available-for-sale investment securities with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows: In loss position for Less than 12 months 12 months or more Fair Value Unrealized Losses Fair Value Unrealized Losses Total Fair Value Total Unrealized Losses June 30, 2016 Marketable equity securities $ — $ — $ 5,794 $ (206 ) $ 5,794 $ (206 ) $ — $ — $ 5,794 $ (206 ) $ 5,794 $ (206 ) December 31, 2015 Marketable equity securities $ 5,938 $ (62 ) $ — $ — $ 5,938 $ (62 ) Mutual funds invested in fixed income securities 10,053 (15 ) — — 10,053 (15 ) $ 15,991 $ (77 ) $ — $ — $ 15,991 $ (77 )
Schedule of Realized Gains (Losses)	Gross realized gains and losses on available-for-sale investment securities were as follows: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Gross realized gains on sales $ 206 $ 520 $ 955 $ 14,084 Gross realized losses on sales (67 ) (710 ) (249 ) (1,245 ) Gains (losses) on sale of investment securities available for sale $ 139 $ (190 ) $ 706 $ 12,839 Gross realized losses on other-than-temporary impairments $ (49 ) $ — $ (4,862 ) $ —

Long-Term Investments (Tables)

Long-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Long-term Investments [Abstract]
Cost method investments	Long-term investments consisted of the following: June 30, 2016 December 31, 2015 Investments accounted at cost $ 39,028 $ 41,231 Investments accounted for under the equity method 20,341 21,495 $ 59,369 $ 62,726 Long-term investments accounted for at cost consisted of the following: June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Value Value Value Value Investments partnerships $ 38,527 $ 41,522 $ 40,730 $ 44,217 Real estate partnership 501 504 501 552 $ 39,028 $ 42,026 $ 41,231 $ 44,769
Equity method investments	Long-term investments accounted for under the equity method consisted of the following: June 30, December 31, 2015 Indian Creek Investors LP $ 4,929 $ 4,989 Boyar Value Fund 7,312 7,302 Ladenburg Thalmann Financial Services Inc. 8,100 9,204 Castle Brands, Inc. — — $ 20,341 $ 21,495 Long-term investments consisted of the following: June 30, 2016 December 31, 2015 Investments accounted at cost $ 39,028 $ 41,231 Investments accounted for under the equity method 20,341 21,495 $ 59,369 $ 62,726

New Valley LLC (Tables)

New Valley LLC (Tables)	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Investments in real estate ventures	Investments in real estate ventures. New Valley also holds equity investments in various real estate projects domestically and internationally. The components of “Investments in real estate ventures” were as follows: June 30, December 31, 10 Madison Square Park (1107 Broadway) $ 9,188 $ 11,391 The Marquand (11 East 68th Street) 9,333 13,900 11 Beach Street 13,702 13,209 20 Times Square (701 Seventh Avenue) 16,487 14,985 111 Murray Street 25,308 25,567 160 Leroy Street 4,511 3,952 215 Chrystie Street 5,729 5,592 The Dutch (25-19 43rd Avenue) 1,129 1,077 Queens Plaza (23-10 Queens Plaza South) 16,834 16,177 87 Park (8701 Collins Avenue) 8,846 8,658 125 Greenwich Street 9,780 9,750 West Hollywood Edition (9040 Sunset Boulevard) 7,050 10,510 76 Eleventh Avenue 18,867 17,967 Monad Terrace 7,774 6,608 Takanasee 4,916 4,680 Condominium and Mixed Use Development 159,454 164,023 Maryland Portfolio — — ST Portfolio 9,193 15,754 Apartment Buildings 9,193 15,754 Park Lane Hotel 21,138 19,697 Hotel Taiwana 7,786 7,069 Coral Beach and Tennis Club 3,162 3,159 Hotels 32,086 29,925 The Plaza at Harmon Meadow 3,682 5,449 Commercial 3,682 5,449 Other 1,724 2,017 Investments in real estate ventures $ 206,139 $ 217,168
Schedule of real estate held for sale, net	The components of “Investments in real estate, net” were as follows: June 30, December 31, Escena, net $ 10,644 $ 10,716 Sagaponack 12,684 12,602 Investments in real estate, net $ 23,328 $ 23,318
Investment in Escena	Escena. The assets of “Escena, net” were as follows: June 30, December 31, Land and land improvements $ 8,907 $ 8,907 Building and building improvements 1,874 1,875 Other 2,001 1,923 12,782 12,705 Less accumulated depreciation (2,138 ) (1,989 ) $ 10,644 $ 10,716

Notes Payable, Long-Term Debt a

Notes Payable, Long-Term Debt and Other Obligations (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Notes payable, long-term debt and other obligations	Notes payable, long-term debt and other obligations consist of: June 30, December 31, Vector: 7.75% Senior Secured Notes due 2021, including premium of $15,391 and $8,014 $ 850,391 $ 608,014 7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $121,788 and $132,119* 108,212 97,881 5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $79,010 and $86,136* 179,740 172,614 Liggett: Revolving credit facility 12,808 3,213 Term loan under credit facility 3,147 3,269 Equipment loans 6,866 9,716 Other 354 461 Notes payable, long-term debt and other obligations 1,161,518 895,168 Less: Debt issuance costs (34,172 ) (30,141 ) Total notes payable, long-term debt and other obligations 1,127,346 865,027 Less: Current maturities (16,615 ) (8,919 ) Amount due after one year $ 1,110,731 $ 856,108 ______________________ * The fair value of the derivatives embedded within the 7.5% Variable Interest Senior Convertible Notes ( $61,998 at June 30, 2016 and $72,083 at December 31, 2015 , respectively) and the 5.5% Variable Interest Senior Convertible Debentures ( $64,934 at June 30, 2016 and $71,959 at December 31, 2015 , respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets.
Schedule of conversion rates for all convertible debt outstanding	The conversion rates for all convertible debt outstanding as of June 30, 2016 and December 31, 2015 , are summarized below: June 30, 2016 December 31, 2015 Conversion Price Shares per $1,000 Conversion Price Shares per $1,000 7.5% Variable Interest Senior Convertible Notes due 2019 $ 15.98 62.5743 $ 15.98 62.5743 5.5% Variable Interest Senior Convertible Debentures due 2020 $ 24.64 40.5891 $ 24.64 40.5891
Schedule of non-cash interest expense - Vector	Non-Cash Interest Expense - Vector : Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Amortization of debt discount, net $ 8,653 $ 6,213 $ 16,609 $ 11,840 Amortization of debt issuance costs 1,401 1,022 2,569 1,988 $ 10,054 $ 7,235 $ 19,178 $ 13,828
Schedule of fair value of notes payable and long-term debt	Fair Value of Notes Payable and Long-Term Debt : June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Value Value Value Value Notes payable and long-term debt $ 1,161,518 (1) $ 1,513,012 $ 895,168 (1) $ 1,297,875 ______________________ (1) The carrying value does not include the carrying value of the embedded derivative. See Note 11 .

Contingencies (Tables)

Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of contingencies	The activity in the Company's accruals for the MSA and tobacco litigation for the six months ended June 30, 2016 were as follows: Current Liabilities Non-Current Liabilities Payments due under Master Settlement Agreement Litigation Accruals Total Payments due under Master Settlement Agreement Litigation Accruals Total Balance at January 1, 2016 $ 29,241 $ 22,904 $ 52,145 $ 20,094 $ 24,718 $ 44,812 Expenses 42,637 2,583 45,220 — — — Change in MSA obligations capitalized as inventory 69 — 69 — — — Payments (12,847 ) (25,545 ) (38,392 ) — — — Reclassification to/(from) non-current liabilities (2,163 ) 3,252 1,089 2,163 (3,252 ) (1,089 ) Interest on withholding 35 320 355 — 1,153 1,153 Balance as of June 30, 2016 $ 56,972 $ 3,514 $ 60,486 $ 22,257 $ 22,619 $ 44,876 The activity in the Company's accruals for the MSA and tobacco litigation for the six months ended June 30, 2015 were as follows: Current Liabilities Non-Current Liabilities Payments due under Master Settlement Agreement Litigation Accruals Total Payments due under Master Settlement Agreement Litigation Accruals Total Balance at January 1, 2015 $ 26,322 $ 3,149 $ 29,471 $ 25,809 $ 25,700 $ 51,509 Expenses 53,435 2,490 55,925 — (195 ) (195 ) Change in MSA obligations capitalized as inventory 1,011 — 1,011 — — — Payments (18,142 ) (5,645 ) (23,787 ) — — — Reclassification from non-current liabilities — 3,305 3,305 — (3,305 ) (3,305 ) Interest on withholding — 178 178 — 1,244 1,244 Balance as of June 30, 2015 $ 62,626 $ 3,477 $ 66,103 $ 25,809 $ 23,444 $ 49,253 The following table lists the number of Individual Actions by state: State Number of Cases Maryland 13 Florida 11 New York 7 Louisiana 3 West Virginia 2 Missouri 1 Ohio 1 As of June 30, 2016 , the following Engle progeny cases have resulted in judgments against Liggett: Date Case Name County Liggett Compensatory (1) Liggett Punitive Damages Status (2) June 2002 Lukacs v. R.J. Reynolds Miami-Dade $12,418 $— Liggett satisfied the judgment and the case is concluded. August 2009 Campbell v. R.J. Reynolds Escambia 156 — Liggett satisfied the judgment and the case is concluded. March 2010 Douglas v. R.J. Reynolds Hillsborough 1,350 — Liggett satisfied the judgment and the case is concluded. April 2010 Clay v. R.J. Reynolds Escambia 349 1,000 Liggett satisfied the judgment and the case is concluded. April 2010 Putney v. R.J. Reynolds Broward 3,008 — On June 12, 2013, the Fourth District Court of Appeal reversed and remanded the case for further proceedings regarding the amount of the award. Both sides sought discretionary review from the Florida Supreme Court. In February 2016, the Florida Supreme Court reinstated the jury's verdict. The defendants moved for clarification of that order, which was granted in March 2016. The court clarified that it reversed the district court's decision regarding the statute of repose only, leaving the remaining portions of the decision intact. The case will be remanded to the trial court for proceedings consistent with those portions of the district court's decision that were not reversed. April 2011 Tullo v. R.J. Reynolds Palm Beach 225 — Liggett satisfied the judgment and other than an issue with respect to the calculation of interest on the judgment and the amount of costs owed by Liggett, the case is concluded. January 2012 Ward v. R.J. Reynolds Escambia 1 — Liggett satisfied the merits judgment. Subsequently, the trial court entered a joint and several final judgment on attorneys' fees and costs for $981 and defendants appealed that judgment. May 2012 Calloway v. R.J. Reynolds Broward 1,530 — A joint and several judgment for $16,100 was entered against R.J. Reynolds, Philip Morris, Lorillard and Liggett. On January 6, 2016, the Fourth District Court of Appeal reversed in part, including the $7,600 punitive damages award against Liggett, and remanded the case to the trial court for a new trial on certain issues. Both sides have moved for rehearing. December 2012 Buchanan v. R.J. Reynolds Leon 2,750 — Liggett satisfied the judgment and the case is concluded. May 2013 Cohen v. R.J. Reynolds Palm Beach — — In May 2013, the jury awarded compensatory damages in the amount of $2,055 and apportioned 10% of the fault to Liggett ($205). Defendants' motion seeking a new trial was granted by the trial court. Plaintiff appealed and defendants cross-appealed. Oral argument occurred on June 7, 2016. A decision is pending. August 2013 Rizzuto v. R.J. Reynolds Hernando 3,479 — Liggett settled its portion of the judgment for $1,500 and the case is concluded as to Liggett. August 2014 Irimi v. R.J. Reynolds Broward — — In August 2014, the jury awarded compensatory damages in the amount of $3,123 and apportioned 1% of the fault to Liggett ($31). In January 2015, the trial court granted defendants' motion for a new trial. Plaintiff appealed. October 2014 Lambert v. R.J. Reynolds Pinellas 3,600 9,500 Liggett satisfied the judgment and the case is concluded. November 2014 Boatright v. R.J. Reynolds Polk — 300 In November 2014, the jury awarded compensatory damages in the amount of $15,000 with 15% fault apportioned to plaintiff and 85% to Philip Morris. The jury further assessed punitive damages against Philip Morris for $19,700 and Liggett for $300. Post trial motions were denied. A joint and several judgment was entered in the amount of $12,750 on the compensatory damages. Judgment was further entered against Liggett for $300 in punitive damages. Defendants appealed and plaintiff cross-appealed. June 2015 Caprio v. R.J. Reynolds Broward — — In February 2015, the jury answered certain questions on the verdict form, but were deadlocked as to others. The jury returned a verdict of $559 in economic damages. The court entered a partial judgment and ordered a new trial on the remaining issues, including comparative fault and punitive damages. Defendants appealed. Total Damages Awarded: 28,866 10,800 Amounts accrued, paid or compromised: (24,328) (10,500) Damages remaining on Appeal: $4,538 $300 (1) Compensatory damages are adjusted to reflect the jury's allocation of comparative fault and only include Liggett's jury allocated share, regardless of whether a judgment was joint and several. The amounts listed above do not include attorneys' fees or statutory interest. (2) See Exhibit 99.1 for a more complete description of the cases currently on appeal.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs	The following table summarizes key information related to the Company's pension plans and other postretirement benefits: Pension Benefits Pension Benefits Other Postretirement Benefits Other Postretirement Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2016 2015 2016 2015 2016 2015 2016 2015 Service cost — benefits earned during the period $ 137 $ 133 $ 274 $ 265 $ 1 $ 2 $ 2 $ 4 Interest cost on projected benefit obligation 1,355 1,280 2,710 2,598 97 93 194 185 Expected return on assets (1,519 ) (1,888 ) (3,038 ) (3,813 ) — — — — Settlement loss — 1,607 — 1,607 — — — — Amortization of net loss (gain) 464 278 928 569 (19 ) (24 ) (38 ) (48 ) Net expense $ 437 $ 1,410 $ 874 $ 1,226 $ 79 $ 71 $ 158 $ 141

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table presents the activity under the Tobacco segment restructuring plan for the six months ended June 30, 2016 : Employee Severance and Benefits Contract Termination/Exit Costs Other Total Accrual balance as of January 1, 2016 $ 422 $ 48 $ 20 $ 490 Restructuring charges — 41 — 41 Utilized (315 ) (89 ) (20 ) (424 ) Accrual balance as of June 30, 2016 $ 107 $ — $ — $ 107

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	The Company's income tax expense consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Income before provision for income taxes $ 46,340 $ 30,622 $ 82,096 $ 64,970 Income tax expense using estimated annual effective income tax rate 18,793 11,347 33,317 24,145 Changes in effective tax rates 210 (78 ) — — Impact of discrete items, net — (91 ) 49 (100 ) Income tax expense $ 19,003 $ 11,178 $ 33,366 $ 24,045

Investments and Fair Value Me33

Investments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Company's recurring financial assets and liabilities subject to fair value measurements	The Company's recurring financial assets and liabilities subject to fair value measurements were as follows: Fair Value Measurements as of June 30, 2016 Description Total Quoted Prices in Active Markets for Identical Assets Total Gains (Losses) Assets: Money market funds $ 336,845 $ 336,845 $ — $ — Commercial paper 42,044 — 42,044 — Certificates of deposit 2,976 — 2,976 — Bonds 10,767 10,767 — — Investment securities available for sale Equity securities 55,309 55,309 — — Mutual funds invested in fixed income securities 20,518 20,518 — — Fixed income securities U.S. government securities 27,456 — 27,456 — Corporate securities 35,660 — 35,660 — U.S. government and federal agency 7,343 — 7,343 — Commercial mortgage-backed securities 3,675 — 3,675 — U.S. asset-backed securities 2,115 — 2,115 — Commercial paper 7,985 — 7,985 — Index-linked U.S. bonds 793 — 793 — Total fixed income securities 85,027 — 85,027 — Total investment securities available for sale 160,854 75,827 85,027 — Total $ 553,486 $ 423,439 $ 130,047 $ — Liabilities: Fair value of derivatives embedded within convertible debt $ 126,932 $ — $ — $ 126,932 Nonrecurring fair value measurements Long-term investments (1) $ 6,396 $ 6,396 $ (1,203 ) (1) Long-term investments with a carrying amount of $7,599 were written down to their fair value of $6,396 , resulting in an impairment charge of $1,203 , which was included in earnings. Fair Value Measurements as of December 31, 2015 Description Total Quoted Prices in Active Markets for Identical Assets Total Gains (Losses) Assets: Money market funds $ 93,915 $ 93,915 $ — $ — Certificates of deposit 3,469 — 3,469 — Bonds 12,767 12,767 — — Investment securities available for sale Equity securities 67,273 67,273 — — Mutual funds invested in fixed income securities 20,111 20,111 — — Fixed income securities U.S. government securities 28,132 — 28,132 — Corporate securities 41,561 — 41,561 — U.S. government and federal agency 5,790 — 5,790 — Commercial mortgage-backed securities 8,728 — 8,728 — U.S. asset-backed securities 8,276 — 8,276 — Index-linked U.S. bonds 2,105 — 2,105 — Total fixed income securities 94,592 — 94,592 — Total investment securities available for sale 181,976 87,384 94,592 — Total $ 292,127 $ 194,066 $ 98,061 $ — Liabilities: Fair value of derivatives embedded within convertible debt $ 144,042 $ — $ — $ 144,042 Nonrecurring fair value measurements Long-term investments (1) $ 11,189 $ 11,189 $ (811 ) Investments in real estate, net (2) 3,780 3,780 (230 ) $ 14,969 $ 14,969 $ (1,041 ) (1) Long-term investments with a carrying amount of $12,000 were written down to their fair value of $11,189 , resulting in an impairment charge of $811 , which was included in earnings. (2) Investment in real estate, net with a carrying value of $4,010 was written down to its fair value of $3,780 , resulting in an impairment charge of $230 , which was included in earnings.
Unobservable inputs related to the valuations of the Level 3 assets	The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at June 30, 2016 : Quantitative Information about Level 3 Fair Value Measurements Fair Value at June 30, Valuation Technique Unobservable Input Range (Actual) Fair value of derivatives embedded within convertible debt $ 126,932 Discounted cash flow Assumed annual stock dividend 5 % Assumed annual cash dividend $ 1.60 Stock price $ 22.42 Convertible trading price (as a percentage of par value) 110.88 % Volatility 19.33 % Risk-free rate Term structure of US Treasury Securities Implied credit spread 6.0% - 7.0% (6.5%) The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at December 31, 2015 : Quantitative Information about Level 3 Fair Value Measurements Fair Value at December 31, Valuation Technique Unobservable Input Range (Actual) Fair value of derivatives embedded within convertible debt $ 144,042 Discounted cash flow Assumed annual stock dividend 5 % Assumed annual cash dividend $ 1.60 Stock price $ 23.59 Convertible trading price (as a percentage of par value) 114.31 % Volatility 18.30 % Risk-free rate Term structure of US Treasury Securities Implied credit spread 5.0% - 5.5% (5.25%)
Unobservable inputs related to the valuations of the Level 3 liabilities	The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at June 30, 2016 : Quantitative Information about Level 3 Fair Value Measurements Fair Value at June 30, Valuation Technique Unobservable Input Range (Actual) Fair value of derivatives embedded within convertible debt $ 126,932 Discounted cash flow Assumed annual stock dividend 5 % Assumed annual cash dividend $ 1.60 Stock price $ 22.42 Convertible trading price (as a percentage of par value) 110.88 % Volatility 19.33 % Risk-free rate Term structure of US Treasury Securities Implied credit spread 6.0% - 7.0% (6.5%) The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at December 31, 2015 : Quantitative Information about Level 3 Fair Value Measurements Fair Value at December 31, Valuation Technique Unobservable Input Range (Actual) Fair value of derivatives embedded within convertible debt $ 144,042 Discounted cash flow Assumed annual stock dividend 5 % Assumed annual cash dividend $ 1.60 Stock price $ 23.59 Convertible trading price (as a percentage of par value) 114.31 % Volatility 18.30 % Risk-free rate Term structure of US Treasury Securities Implied credit spread 5.0% - 5.5% (5.25%)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Financial information for the company's operations before taxes	Financial information for the Company’s operations before taxes and non-controlling interests for the three and six months ended June 30, 2016 and 2015 were as follows: Real Corporate Tobacco E-Cigarettes Estate and Other Total Three months ended June 30, 2016 Revenues $ 255,498 $ 10 $ 182,765 $ — $ 438,273 Operating income (loss) 66,016 (91 ) 11,706 (6,911 ) 70,720 Equity in earnings from real estate ventures — — 2,813 — 2,813 Depreciation and amortization 2,499 — 2,943 428 5,870 Three months ended June 30, 2015 Revenues $ 254,890 $ 261 $ 161,022 $ — $ 416,173 Operating income (loss) 56,215 (1) (2,400 ) 6,892 (4,904 ) 55,803 Equity in earnings from real estate ventures — — 1,856 — 1,856 Depreciation and amortization 2,931 — 3,076 435 6,442 Six months ended June 30, 2016 Revenues $ 476,513 $ 48 $ 342,512 $ — $ 819,073 Operating income (loss) 127,499 (2) (284 ) 19,380 (13,716 ) 132,879 Equity in earnings from real estate ventures — — 2,306 — 2,306 Depreciation and amortization 4,939 — 5,225 870 11,034 Capital expenditures 3,716 — 3,873 26 7,615 Six months ended June 30, 2015 Revenues $ 482,975 $ 680 $ 293,278 $ — $ 776,933 Operating income (loss) 105,885 (3) (5,564 ) 9,043 (9,843 ) 99,521 Equity in earnings from real estate ventures — — 2,194 — 2,194 Depreciation and amortization 5,867 — 5,984 872 12,723 Capital expenditures 2,350 — 3,029 — 5,379 (1) Operating income includes $1,250 of litigation settlement expense and $1,607 of pension settlement expense. (2) Operating income includes $2,350 of litigation settlement expense, and $41 of restructuring expense. (3) Operating income includes $2,093 of litigation settlement expense and $1,607 of pension settlement expense.

Condensed Consolidating Finan35

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheets	CONDENSED CONSOLIDATING BALANCE SHEETS June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. ASSETS: Current assets: Cash and cash equivalents $ 335,034 $ 32,246 $ 107,458 $ — $ 474,738 Investment securities available for sale 120,283 40,571 — — 160,854 Accounts receivable - trade, net — 15,015 10,061 — 25,076 Intercompany receivables 16,435 — — (16,435 ) — Inventories — 92,735 — — 92,735 Income taxes receivable, net 12,342 — — (12,124 ) 218 Restricted assets — 8,523 914 — 9,437 Other current assets 618 3,794 35,751 — 40,163 Total current assets 484,712 192,884 154,184 (28,559 ) 803,221 Property, plant and equipment, net 1,452 51,122 19,330 — 71,904 Investments in real estate, net — — 23,328 — 23,328 Long-term investments 58,414 454 501 — 59,369 Investments in real estate ventures — — 206,139 — 206,139 Investments in consolidated subsidiaries 517,365 — — (517,365 ) — Restricted assets 1,720 7,666 — — 9,386 Goodwill and other intangible assets, net — 107,511 155,355 — 262,866 Prepaid pension costs — 21,302 — — 21,302 Other assets 7,621 12,002 2,362 — 21,985 Total assets $ 1,071,284 $ 392,941 $ 561,199 $ (545,924 ) $ 1,479,500 LIABILITIES AND STOCKHOLDERS' DEFICIENCY: Current liabilities: Current portion of notes payable and long-term debt $ — $ 16,523 $ 92 $ — $ 16,615 Current portion of employee benefits — 914 — — 914 Intercompany payables — 585 15,850 (16,435 ) — Income taxes payable, net — 11,501 623 (12,124 ) — Litigation accruals and current payments due under the Master Settlement Agreement — 60,486 — — 60,486 Other current liabilities 44,520 55,350 40,518 — 140,388 Total current liabilities 44,520 145,359 57,083 (28,559 ) 218,403 Notes payable, long-term debt and other obligations, less current portion 1,104,171 6,338 222 — 1,110,731 Fair value of derivatives embedded within convertible debt 126,932 — — — 126,932 Non-current employee benefits 40,075 15,233 — — 55,308 Deferred income taxes, net 7,826 35,138 44,950 — 87,914 Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement 5,285 45,010 5,353 — 55,648 Total liabilities 1,328,809 247,078 107,608 (28,559 ) 1,654,936 Commitments and contingencies Stockholders' (deficiency) equity attributed to Vector Group Ltd. (257,525 ) 145,863 371,502 (517,365 ) (257,525 ) Non-controlling interest — — 82,089 — 82,089 Total stockholders' (deficiency) equity (257,525 ) 145,863 453,591 (517,365 ) (175,436 ) Total liabilities and stockholders' deficiency $ 1,071,284 $ 392,941 $ 561,199 $ (545,924 ) $ 1,479,500 CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2015 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. ASSETS: Current assets: Cash and cash equivalents $ 111,470 $ 12,375 $ 116,523 $ — $ 240,368 Investment securities available for sale 131,810 50,166 — — 181,976 Accounts receivable - trade, net — 15,913 7,976 — 23,889 Intercompany receivables 11,293 — — (11,293 ) — Inventories — 86,516 — — 86,516 Income taxes receivable, net 8,213 — — (5,372 ) 2,841 Restricted assets — 7,781 1,414 — 9,195 Other current assets 575 3,747 34,632 — 38,954 Total current assets 263,361 176,498 160,545 (16,665 ) 583,739 Property, plant and equipment, net 1,711 54,097 19,824 — 75,632 Investments in real estate, net — — 23,318 — 23,318 Long-term investments 61,747 478 501 — 62,726 Investments in real estate ventures — — 217,168 — 217,168 Investments in consolidated subsidiaries 532,501 — — (532,501 ) — Restricted assets 1,713 10,590 — — 12,303 Goodwill and other intangible assets, net — 107,511 156,448 — 263,959 Prepaid pension costs — 20,650 — — 20,650 Other assets 7,582 11,769 1,769 — 21,120 Total assets $ 868,615 $ 381,593 $ 579,573 $ (549,166 ) $ 1,280,615 LIABILITIES AND STOCKHOLDERS' DEFICIENCY: Current liabilities: Current portion of notes payable and long-term debt $ — $ 8,733 $ 186 $ — $ 8,919 Current portion of employee benefits — 915 — — 915 Intercompany payables — 586 10,707 (11,293 ) — Income taxes payable, net — 5,464 4 (5,372 ) 96 Litigation accruals and current payments due under the Master Settlement Agreement — 52,145 — — 52,145 Other current liabilities 38,140 74,083 41,994 — 154,217 Total current liabilities 38,140 141,926 52,891 (16,665 ) 216,292 Notes payable, long-term debt and other obligations, less current portion 848,368 7,519 221 — 856,108 Fair value of derivatives embedded within convertible debt 144,042 — — — 144,042 Non-current employee benefits 39,244 15,811 — — 55,055 Deferred income taxes, net 2,675 33,791 42,963 — 79,429 Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement 2,193 44,982 4,675 — 51,850 Total liabilities 1,074,662 244,029 100,750 (16,665 ) 1,402,776 Commitments and contingencies Stockholders' (deficiency) equity attributed to Vector Group Ltd. (206,047 ) 137,564 394,937 (532,501 ) (206,047 ) Non-controlling interest — — 83,886 — 83,886 Total stockholders' (deficiency) equity (206,047 ) 137,564 478,823 (532,501 ) (122,161 ) Total liabilities and stockholders' deficiency $ 868,615 $ 381,593 $ 579,573 $ (549,166 ) $ 1,280,615
Condensed Consolidating Statements of Operations	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 255,648 $ 182,765 $ (140 ) $ 438,273 Expenses: Cost of sales — 168,614 115,017 — 283,631 Operating, selling, administrative and general expenses 9,019 18,943 56,100 (140 ) 83,922 Management fee expense — 2,663 — (2,663 ) — Operating (loss) income (9,019 ) 65,428 11,648 2,663 70,720 Other income (expenses): Interest expense (35,522 ) (843 ) (4 ) — (36,369 ) Change in fair value of derivatives embedded within convertible debt 7,416 — — — 7,416 Equity in earnings from real estate ventures — — 2,813 — 2,813 Equity in earnings (loss) from investments 1,097 (8 ) — — 1,089 Gain on sale of investment securities available for sale 139 — — — 139 Impairment of investment securities available for sale (49 ) — — — (49 ) Equity in earnings in consolidated subsidiaries 46,441 — — (46,441 ) — Management fee income 2,663 — — (2,663 ) — Other, net (93 ) 244 430 — 581 Income before provision for income taxes 13,073 64,821 14,887 (46,441 ) 46,340 Income tax benefit (expense) 10,942 (24,907 ) (5,038 ) — (19,003 ) Net income 24,015 39,914 9,849 (46,441 ) 27,337 Net income attributed to non-controlling interest — — (3,322 ) — (3,322 ) Net income attributed to Vector Group Ltd. $ 24,015 $ 39,914 $ 6,527 $ (46,441 ) $ 24,015 Comprehensive income attributed to non-controlling interest $ — $ — $ (3,322 ) $ — $ (3,322 ) Comprehensive income attributed to Vector Group Ltd. $ 23,746 $ 39,793 $ 6,527 $ (46,320 ) $ 23,746 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended June 30, 2015 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 255,291 $ 161,022 $ (140 ) $ 416,173 Expenses: Cost of sales — 175,334 103,870 — 279,204 Operating, selling, administrative and general expenses 7,174 22,555 50,327 (140 ) 79,916 Litigation settlement and judgment expense — 1,250 — — 1,250 Management fee expense — 2,563 — (2,563 ) — Operating (loss) income (7,174 ) 53,589 6,825 2,563 55,803 Other income (expenses): Interest expense (30,880 ) (879 ) (2 ) — (31,761 ) Change in fair value of derivatives embedded within convertible debt 5,256 — — — 5,256 Equity in earnings from real estate ventures — — 1,856 — 1,856 Equity in loss from investments (2,147 ) (16 ) — — (2,163 ) Loss on sale of investment securities available for sale (190 ) — — — (190 ) Equity in earnings in consolidated subsidiaries 35,745 — — (35,745 ) — Management fee income 2,563 — — (2,563 ) — Other, net 1,192 200 429 — 1,821 Income before provision for income taxes 4,365 52,894 9,108 (35,745 ) 30,622 Income tax benefit (expense) 13,242 (21,219 ) (3,201 ) — (11,178 ) Net income 17,607 31,675 5,907 (35,745 ) 19,444 Net income attributed to non-controlling interest — — (1,837 ) — (1,837 ) Net income attributed to Vector Group Ltd. $ 17,607 $ 31,675 $ 4,070 $ (35,745 ) $ 17,607 Comprehensive income attributed to non-controlling interest $ — $ — $ (1,837 ) $ — $ (1,837 ) Comprehensive income attributed to Vector Group Ltd. $ 17,834 $ 31,131 $ 4,070 $ (35,201 ) $ 17,834 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Six Months Ended June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 476,790 $ 342,512 $ (229 ) $ 819,073 Expenses: Cost of sales — 305,358 214,695 — 520,053 Operating, selling, administrative and general expenses 18,215 37,216 108,548 (229 ) 163,750 Litigation settlement and judgment expense — 2,350 — — 2,350 Management fee expense — 5,325 — (5,325 ) — Restructuring charges — 41 — — 41 Operating (loss) income (18,215 ) 126,500 19,269 5,325 132,879 Other income (expenses): Interest expense (65,280 ) (1,802 ) (7 ) — (67,089 ) Change in fair value of derivatives embedded within convertible debt 17,110 — — — 17,110 Equity in earnings from real estate ventures — — 2,306 — 2,306 Equity in losses from investments (558 ) (24 ) — — (582 ) Gain on sale of investment securities available for sale 315 391 — — 706 Impairment of investment securities available for sale (90 ) (4,772 ) — — (4,862 ) Equity in earnings in consolidated subsidiaries 82,051 — — (82,051 ) — Management fee income 5,325 — — (5,325 ) — Other, net 307 481 840 — 1,628 Income before provision for income taxes 20,965 120,774 22,408 (82,051 ) 82,096 Income tax benefit (expense) 22,388 (48,293 ) (7,461 ) — (33,366 ) Net income 43,353 72,481 14,947 (82,051 ) 48,730 Net income attributed to non-controlling interest — — (5,377 ) — (5,377 ) Net income attributed to Vector Group Ltd. $ 43,353 $ 72,481 $ 9,570 $ (82,051 ) $ 43,353 Comprehensive income attributed to non-controlling interest $ — $ — $ (5,377 ) $ — $ (5,377 ) Comprehensive income attributed to Vector Group Ltd. $ 43,127 $ 72,503 $ 9,570 $ (82,073 ) $ 43,127 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Six Months Ended June 30, 2015 Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Revenues $ — $ 483,914 $ 293,278 $ (259 ) $ 776,933 Expenses: Cost of sales — 332,994 188,228 — 521,222 Operating, selling, administrative and general expenses 14,368 43,892 96,096 (259 ) 154,097 Litigation settlement and judgment expense — 2,093 — — 2,093 Management fee expense — 5,125 — (5,125 ) — Operating (loss) income (14,368 ) 99,810 8,954 5,125 99,521 Other income (expenses): Interest expense (61,634 ) (1,870 ) (3 ) — (63,507 ) Change in fair value of derivatives embedded within convertible debt 11,716 — — — 11,716 Equity in earnings from real estate ventures — — 2,194 — 2,194 (Loss) gain on sale of investment securities available for sale (336 ) 13,175 — — 12,839 Equity in losses from investments (1,543 ) (8 ) — — (1,551 ) Equity in earnings in consolidated subsidiaries 71,744 — — (71,744 ) — Management fee income 5,125 — — (5,125 ) — Other, net 2,257 520 981 — 3,758 Income before provision for income taxes 12,961 111,627 12,126 (71,744 ) 64,970 Income tax benefit (expense) 25,867 (45,403 ) (4,509 ) — (24,045 ) Net income 38,828 66,224 7,617 (71,744 ) 40,925 Net income attributed to non-controlling interest — — (2,097 ) — (2,097 ) Net income attributed to Vector Group Ltd. $ 38,828 $ 66,224 $ 5,520 $ (71,744 ) $ 38,828 Comprehensive income attributed to non-controlling interest $ — $ — $ (2,097 ) $ — $ (2,097 ) Comprehensive income attributed to Vector Group Ltd. $ 44,037 $ 63,398 $ 5,520 $ (68,918 ) $ 44,037
Condensed Consolidating Statements of Cash Flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2016 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Net cash provided by operating activities $ 73,915 $ 75,513 $ 28,437 $ (99,040 ) $ 78,825 Cash flows from investing activities: Sale of investment securities 62,312 4,721 — — 67,033 Maturities of investment securities 343 — — — 343 Purchase of investment securities (56,691 ) — — — (56,691 ) Proceeds from sale or liquidation of long-term investments 1,000 — — — 1,000 Purchase of long-term investments — — (50 ) — (50 ) Investments in real estate ventures — — (11,806 ) — (11,806 ) Distributions from investments in real estate ventures — — 17,983 — 17,983 Increase in cash surrender value of life insurance policies — (393 ) — — (393 ) (Increase) decrease in restricted assets (7 ) 2,181 500 — 2,674 Investments in subsidiaries (987 ) — — 987 — Proceeds from sale of fixed assets — 4 1 — 5 Capital expenditures (26 ) (3,716 ) (3,873 ) — (7,615 ) Pay downs of investment securities 4,926 — — — 4,926 Investments in real estate, net — — (81 ) — (81 ) Net cash provided by investing activities 10,870 2,797 2,674 987 17,328 Cash flows from financing activities: Proceeds from issuance of debt 243,225 — 57 — 243,282 Deferred financing costs (6,600 ) — — — (6,600 ) Repayments of debt — (2,863 ) (54 ) — (2,917 ) Borrowings under revolver — 89,695 — — 89,695 Repayments on revolver — (80,223 ) — — (80,223 ) Capital contributions received — 600 387 (987 ) — Intercompany dividends paid — (65,648 ) (33,392 ) 99,040 — Dividends and distributions on common stock (97,846 ) — — — (97,846 ) Contributions from non-controlling interest — — 248 — 248 Distributions to non-controlling interest — — (7,422 ) — (7,422 ) Net cash provided by (used in) financing activities 138,779 (58,439 ) (40,176 ) 98,053 138,217 Net increase (decrease) in cash and cash equivalents 223,564 19,871 (9,065 ) — 234,370 Cash and cash equivalents, beginning of period 111,470 12,375 116,523 — 240,368 Cash and cash equivalents, end of period $ 335,034 $ 32,246 $ 107,458 $ — $ 474,738 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2015 Subsidiary Consolidated Parent/ Subsidiary Non- Consolidating Vector Group Issuer Guarantors Guarantors Adjustments Ltd. Net cash provided by operating activities $ 42,679 $ 99,159 $ 13,057 $ (71,010 ) $ 83,885 Cash flows from investing activities: Sale of investment securities 103,846 14,415 — — 118,261 Maturities of investment securities 1,737 — — — 1,737 Purchase of investment securities (112,119 ) (1,476 ) — — (113,595 ) Proceeds from sale or liquidation of long-term investments 1,106 — 148 — 1,254 Purchase of long-term investments (5,000 ) — — — (5,000 ) Investments in real estate ventures — — (34,857 ) — (34,857 ) Investments in real estate, net — — (12,502 ) — (12,502 ) Increase in cash surrender value of life insurance policies (717 ) (401 ) — — (1,118 ) Increase in restricted assets (1,327 ) (6,607 ) — — (7,934 ) Issuance of notes receivable — — (4,410 ) — (4,410 ) Pay downs of investment securities 3,530 — — — 3,530 Proceeds from sale of fixed assets — 3 — — 3 Investments in subsidiaries (42,808 ) — — 42,808 — Proceeds from sale of preferred securities — — 1,000 1,000 Capital expenditures — (2,350 ) (3,029 ) — (5,379 ) Net cash (used in) provided by investing activities (51,752 ) 3,584 (53,650 ) 42,808 (59,010 ) Cash flows from financing activities: Proceeds from issuance of debt — 22 — — 22 Deferred financing costs — (625 ) — — (625 ) Repayments of debt — (3,254 ) (120 ) — (3,374 ) Borrowings under revolver — 126,727 — — 126,727 Repayments on revolver — (144,492 ) — — (144,492 ) Capital contributions received — 2,250 40,558 (42,808 ) — Intercompany dividends paid — (69,075 ) (1,935 ) 71,010 — Dividends and distributions on common stock (92,778 ) — — — (92,778 ) Proceeds from exercise of Vector options 1,219 — — — 1,219 Tax benefit of options exercised 384 — — — 384 Net cash (used in) provided by financing activities (91,175 ) (88,447 ) 38,503 28,202 (112,917 ) Net (decrease) increase in cash and cash equivalents (100,248 ) 14,296 (2,090 ) — (88,042 ) Cash and cash equivalents, beginning of period 211,751 9,724 104,890 — 326,365 Cash and cash equivalents, end of period $ 111,503 $ 24,020 $ 102,800 $ — $ 238,323

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Schedule of prior period revisions) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets	$ 21,985		$ 21,985		$ 21,120
Total assets	1,479,500		1,479,500		1,280,615
Notes payable, long-term debt and other obligations, less current portion	1,110,731		1,110,731		856,108
Total liabilities	1,654,936		1,654,936		1,402,776
Total stockholders' equity	(175,436)		(175,436)		(122,161)
Total liabilities and stockholders' deficiency	1,479,500		1,479,500		1,280,615
Operating, selling, administrative and general expenses	83,922	$ 79,916	163,750	$ 154,097
Operating income (loss)	70,720	55,803	132,879	99,521
Equity in earnings (losses) from investments	1,089	(2,163)	(582)	(1,551)
Other, net	581	1,821	1,628	3,758
Income before provision for income taxes	46,340	30,622	82,096	64,970
Income tax expense	19,003	11,178	33,366	24,045
Net income	27,337	19,444	48,730	40,925
Net income attributed to Vector Group Ltd.	24,015	17,607	43,353	38,828
Other comprehensive (loss) income, net of tax	(269)	227	(226)	5,209
Comprehensive income	27,068	19,671	48,504	46,134
Comprehensive income attributed to Vector Group Ltd.	$ 23,746	17,834	$ 43,127	44,037
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets					51,261
Total assets					1,310,756
Notes payable, long-term debt and other obligations, less current portion					886,249
Total liabilities					1,432,917
Total stockholders' equity					(122,161)
Total liabilities and stockholders' deficiency					1,310,756
Operating, selling, administrative and general expenses		79,679		153,623
Operating income (loss)		56,040		99,995
Equity in earnings (losses) from investments		(1,657)		(1,694)
Other, net		1,525		3,421
Income before provision for income taxes		31,069		64,964
Income tax expense		11,364		24,043
Net income		19,705		40,921
Net income attributed to Vector Group Ltd.		17,868		38,824
Other comprehensive (loss) income, net of tax		(2,781)		(782)
Comprehensive income		16,924		40,139
Comprehensive income attributed to Vector Group Ltd.		15,087		38,042
Revision | Adoption of Equity Method
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating, selling, administrative and general expenses		237		474
Operating income (loss)		(237)		(474)
Equity in earnings (losses) from investments		(506)		143
Other, net		296		337
Income before provision for income taxes		(447)		6
Income tax expense		(186)		2
Net income		(261)		4
Net income attributed to Vector Group Ltd.		(261)		4
Other comprehensive (loss) income, net of tax		3,008		5,991
Comprehensive income		2,747		5,995
Comprehensive income attributed to Vector Group Ltd.		$ 2,747		$ 5,995
Revision | ASU 2015-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets					(30,141)
Total assets					(30,141)
Notes payable, long-term debt and other obligations, less current portion					(30,141)
Total liabilities					(30,141)
Total stockholders' equity					0
Total liabilities and stockholders' deficiency					$ (30,141)

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Sep. 29, 2015
Accounting Policies [Abstract]
Stock dividend paid to company stockholders			5.00%
Embedded Derivative [Line Items]
Fair market value of embedded derivatives at the midpoint of the inputs	$ 126,932	$ 144,042
Minimum
Embedded Derivative [Line Items]
Fair market value of embedded derivatives at the midpoint of the inputs	125,983	143,422
Maximum
Embedded Derivative [Line Items]
Fair market value of embedded derivatives at the midpoint of the inputs	$ 127,870	$ 144,660

Summary of Significant Accoun38

Summary of Significant Accounting Policies (Net Income (Loss) for Purposes of Determining Basic and Diluted EPS) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Net income attributed to Vector Group Ltd.	$ 24,015	$ 17,607	$ 43,353	$ 38,828
Income attributed to participating securities	(784)	(521)	(1,417)	(1,151)
Income attributed to participating securities	(784)	(521)	(1,417)	(1,151)
Net income available to common shares attributed to Vector Group Ltd.	23,231	17,086	41,936	37,677
Net income available to common shares attributed to Vector Group Ltd.	$ 23,231	$ 17,086	$ 41,936	$ 37,677

Summary of Significant Accoun39

Summary of Significant Accounting Policies (Basic and Diluted Earnings Per Share (in shares)) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Weighted-average shares for basic EPS	118,065,857	117,954,708	118,062,358	117,475,380
Plus incremental shares related to stock options and non-vested restricted stock	236,348	209,067	215,386	205,262
Weighted-average shares for diluted EPS	118,302,205	118,163,775	118,277,744	117,680,642

Summary of Significant Accoun40

Summary of Significant Accounting Policies (Antidilutive Securities Excluded from Earnings Per Share) (Details) - Weighted-average number of shares issuable upon conversion of debt - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidiliitive securities excluded from computation (in shares)	24,895,477	24,895,477	24,895,477	25,334,835
Weighted-average conversion price (in dollars per share)	$ 19.63	$ 19.63	$ 19.63	$ 19.48

Summary of Significant Accoun41

Summary of Significant Accounting Policies (Schedule of Other Income, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Interest and dividend income	$ 1,452	$ 1,795	$ 2,776	$ 3,535
Gain on long-term investment	0	24	0	224
Impairment of long-term investments	(921)	0	(1,203)	0
Other income (expense)	50	2	55	(1)
Other income, net	$ 581	$ 1,821	$ 1,628	$ 3,758

Summary of Significant Accoun42

Summary of Significant Accounting Policies (Other Current Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Accounts payable	$ 10,265	$ 19,639
Accrued promotional expenses	22,269	24,816
Accrued excise and payroll taxes payable, net	16,784	26,556
Accrued interest	35,028	28,147
Commissions payable	9,885	11,008
Accrued salary and benefits	18,179	22,774
Other current liabilities	27,978	21,277
Total other current liabilities	$ 140,388	$ 154,217

Summary of Significant Accoun43

Summary of Significant Accounting Policies (Goodwill and Other Intangible Assets, net) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 70,791	$ 70,791
Intangibles with a finite life, net	4,564	5,657
Total goodwill and other intangible assets, net	262,866	263,959
Intangible asset associated with benefit under the MSA
Indefinite-lived Intangible Assets [Line Items]
Indefinite life intangibles:	107,511	107,511
Trademark - Douglas Elliman
Indefinite-lived Intangible Assets [Line Items]
Indefinite life intangibles:	$ 80,000	$ 80,000

Summary of Significant Accoun44

Summary of Significant Accounting Policies (Commitments) (Details) - Douglas Elliman - Lease Extension and Sublease Agreement $ in Thousands	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
Possible increase in lease commitments 2016	$ 0
Possible increase in lease commitments 2017	1,164
Possible increase in lease commitments 2018	1,412
Possible increase in lease commitments 2019	3,733
Possible increase in lease commitments 2020	5,394
Possible increase in lease commitments, thereafter	$ 69,460

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Inventory [Line Items]
Leaf tobacco	$ 49,537	$ 49,856
Other raw materials	3,586	3,578
Work-in-process	606	789
Inventories at current cost	121,015	115,796
LIFO adjustments	(28,280)	(29,280)
Inventory, net	92,735	86,516
Cigarettes
Inventory [Line Items]
Finished goods	67,219	61,493
E-Cigarettes
Inventory [Line Items]
Finished goods	67	80
LIFO adjustments	$ (5)	$ (5)

Inventories (Narrartive) (Detai

Inventories (Narrartive) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Inventory [Line Items]
LIFO adjustments	$ 28,280	$ 29,280
Capitalized MSA cost in finished goods inventory	15,865	15,796
Inventories
Inventory [Line Items]
Federal excise tax in inventory	26,417	23,455
Liggett | Inventories
Inventory [Line Items]
Purchase commitments	16,151
Leaf tobacco
Inventory [Line Items]
LIFO adjustments	18,863	19,863
Other raw materials
Inventory [Line Items]
LIFO adjustments	643	643
Work-in-process
Inventory [Line Items]
LIFO adjustments	33	33
Finished goods
Inventory [Line Items]
LIFO adjustments	8,736	8,736
E-Cigarettes
Inventory [Line Items]
LIFO adjustments	$ 5	$ 5

Investment Securities Availab47

Investment Securities Available for Sale (Components of Investment Securities Available for Sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cost	$ 142,344	$ 162,168
Gross Unrealized Gains	18,716	19,885
Gross Unrealized Losses	(206)	(77)
Fair Value	160,854	181,976
Marketable equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost	38,172	47,502
Gross Unrealized Gains	17,343	19,833
Gross Unrealized Losses	(206)	(62)
Fair Value	55,309	67,273
Mutual funds invested in fixed income securities
Schedule of Available-for-sale Securities [Line Items]
Cost	20,307	20,126
Gross Unrealized Gains	211	0
Gross Unrealized Losses	0	(15)
Fair Value	20,518	20,111
Total marketable debt securities by maturity dates
Schedule of Available-for-sale Securities [Line Items]
Cost	83,865	94,540
Gross Unrealized Gains	1,162	52
Gross Unrealized Losses	0	0
Fair Value	$ 85,027	$ 94,592

Investment Securities Availab48

Investment Securities Available for Sale (Maturity Dates of Marketable Debt Securities) (Details) $ in Thousands	Jun. 30, 2016USD ($)
U.S. Government securities
Schedule of Available-for-sale Securities [Line Items]
Market Value	$ 27,456
Under 1 Year	0
1 Year up to 5 Years	27,456
More than 5 Years	0
Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Market Value	35,660
Under 1 Year	2,271
1 Year up to 5 Years	33,389
More than 5 Years	0
U.S. mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Market Value	7,343
Under 1 Year	0
1 Year up to 5 Years	49
More than 5 Years	7,294
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Market Value	3,675
Under 1 Year	0
1 Year up to 5 Years	0
More than 5 Years	3,675
U.S. asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Market Value	2,115
Under 1 Year	0
1 Year up to 5 Years	2,115
More than 5 Years	0
Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Market Value	7,985
Under 1 Year	7,985
1 Year up to 5 Years	0
More than 5 Years	0
Index-linked U.S. bonds
Schedule of Available-for-sale Securities [Line Items]
Market Value	793
Under 1 Year	0
1 Year up to 5 Years	793
More than 5 Years	0
Total marketable debt securities by maturity dates
Schedule of Available-for-sale Securities [Line Items]
Market Value	85,027
Under 1 Year	10,256
1 Year up to 5 Years	63,802
More than 5 Years	$ 10,969

Investment Securities Availab49

Investment Securities Available for Sale (Securities with Continuous Unrealized Losses) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
In loss position for Less than 12 months, Fair Value	$ 0	$ 15,991
In loss position for Less than 12 months, Unrealized Losses	0	(77)
Total Fair Value	5,794	15,991
In loss position for 12 months or more, Fair Value	5,794	0
In loss position for 12 months or more, Unrealized Losses	(206)	0
Total Unrealized Losses	(206)	(77)
Marketable equity securities
Schedule of Available-for-sale Securities [Line Items]
In loss position for Less than 12 months, Fair Value	0	5,938
In loss position for Less than 12 months, Unrealized Losses	0	(62)
Total Fair Value	5,794	5,938
In loss position for 12 months or more, Fair Value	5,794	0
In loss position for 12 months or more, Unrealized Losses	(206)	0
Total Unrealized Losses	$ (206)	(62)
Mutual funds invested in fixed income securities
Schedule of Available-for-sale Securities [Line Items]
In loss position for Less than 12 months, Fair Value		10,053
In loss position for Less than 12 months, Unrealized Losses		(15)
Total Fair Value		10,053
In loss position for 12 months or more, Fair Value		0
In loss position for 12 months or more, Unrealized Losses		0
Total Unrealized Losses		$ (15)

Investment Securities Availab50

Investment Securities Available for Sale (Gross Realized Gains and Losses on Available-for-Sale Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Gross realized gains on sales	$ 206	$ 520	$ 955	$ 14,084
Gross realized losses on sales	(67)	(710)	(249)	(1,245)
Gains (losses) on sale of investment securities available for sale	139	(190)	706	12,839
Gross realized losses on other-than-temporary impairments	$ (49)	$ 0	$ (4,862)	$ 0

Investment Securities Availab51

Investment Securities Available for Sale (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross realized losses on other-than-temporary impairments	$ (49)	$ 0	$ (4,862)	$ 0
Proceeds from investment securities sales			67,033	118,261
Maturities of investment securities			343	1,737
Morgans Hotel Group Co. [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross realized losses on other-than-temporary impairments			(4,772)
Corporate Securities and U.S. Government Securities
Schedule of Available-for-sale Securities [Line Items]
Maturities of investment securities			$ 5,269	$ 5,267

Long-Term Investments (Long-ter

Long-Term Investments (Long-term Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Long-term Investments [Abstract]
Investments accounted at cost	$ 39,028	$ 41,231
Investments accounted for under the equity method	20,341	21,495
Long-term investments	$ 59,369	$ 62,726

Long-Term Investments (Cost-Met

Long-Term Investments (Cost-Method Investments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Cost-method Investments [Line Items]
Cost-method investments, carrying value	$ 39,028		$ 41,231
Cost-method investments, fair value	42,026		44,769
Cash distributions from cost method investments	(1,000)	$ (371)
Purchase of long-term investments	50	$ 5,000
Reinsurance Company
Schedule of Cost-method Investments [Line Items]
Purchase of long-term investments	5,000
Investments partnerships
Schedule of Cost-method Investments [Line Items]
Cost-method investments, carrying value	38,527		40,730
Cost-method investments, fair value	41,522		44,217
Real estate partnership
Schedule of Cost-method Investments [Line Items]
Cost-method investments, carrying value	501		501
Cost-method investments, fair value	$ 504		$ 552

Long-Term Investments (Equity-M

Long-Term Investments (Equity-Method Investments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Investments accounted for under the equity method	$ 20,341		$ 20,341		$ 21,495
Distributions of equity method investment			572	$ 1,754
Equity in earnings (losses) from investments	1,089	$ (2,163)	(582)	$ (1,551)
Indian Creek Investors LP
Schedule of Equity Method Investments [Line Items]
Investments accounted for under the equity method	$ 4,929		$ 4,929		4,989
Equity-method ownership percentage	20.13%		20.13%
Boyar Value Fund
Schedule of Equity Method Investments [Line Items]
Investments accounted for under the equity method	$ 7,312		$ 7,312		7,302
Equity-method ownership percentage	30.65%		30.65%
Quoted market value	$ 7,312		$ 7,312
Ladenburg Thalmann Financial Services Inc.
Schedule of Equity Method Investments [Line Items]
Investments accounted for under the equity method	$ 8,100		$ 8,100		9,204
Equity-method ownership percentage	7.75%		7.75%
Quoted market value	$ 33,491		$ 33,491
Castle Brands, Inc.
Schedule of Equity Method Investments [Line Items]
Investments accounted for under the equity method	$ 0		$ 0		$ 0
Equity-method ownership percentage	7.91%		7.91%
Quoted market value	$ 9,250		$ 9,250

New Valley LLC (Details)

New Valley LLC (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016USD ($)unit	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)unit	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)building	Apr. 30, 2015USD ($)
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 206,139		$ 206,139		$ 217,168
Equity in earnings (losses) from investments	1,089	$ (2,163)	(582)	$ (1,551)
Investments in real estate ventures			11,806	34,857
Distributions from non-consolidated real estate businesses			(17,983)	0
Investments in real estate, net	23,328		23,328		$ 23,318
Escena
Schedule of Investments [Line Items]
Operating income (loss)	(299)	(173)	209	552
Apartment Buildings | ST Portfolio, Highgrove [Member]
Schedule of Investments [Line Items]
Number of real estate properties sold | building					1
Number of real estate properties | building					2
Apartment Buildings | ST Portfolio, Phoenix [Member]
Schedule of Investments [Line Items]
Number of real estate properties sold | building					1
Number of real estate properties | building					3
New Valley LLC [Member]
Schedule of Investments [Line Items]
Investments in real estate ventures	206,139		206,139		$ 217,168
Interest costs capitalized			4,836
Investments in real estate, net	$ 23,328		$ 23,328		23,318
New Valley LLC [Member] | Douglas Elliman Realty LLC [Member]
Schedule of Investments [Line Items]
Ownership percentage by parent	70.59%		70.59%
New Valley LLC [Member] | 10 Madison Square Park West (1107 Broadway)
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 9,188		$ 9,188		11,391
New Valley LLC [Member] | The Marquand (11 East 68th Street) [Member]
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 9,333		$ 9,333		13,900
Equity in earnings (losses) from investments		1,501
Number of units in real estate property sold | unit	3		3
New Valley LLC [Member] | 11 Beach Street
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 13,702		$ 13,702		13,209
New Valley LLC [Member] | 20 Times Square (701 Seventh Avenue)
Schedule of Investments [Line Items]
Investments in real estate ventures	16,487		16,487		14,985
New Valley LLC [Member] | 111 Murray Street
Schedule of Investments [Line Items]
Investments in real estate ventures	25,308		25,308		25,567
New Valley LLC [Member] | 160 Leroy Street
Schedule of Investments [Line Items]
Investments in real estate ventures	4,511		4,511		3,952
New Valley LLC [Member] | 215 Chrystie Street
Schedule of Investments [Line Items]
Investments in real estate ventures	5,729		5,729		5,592
New Valley LLC [Member] | The Dutch (25-19 43rd Avenue)
Schedule of Investments [Line Items]
Investments in real estate ventures	1,129		1,129		1,077
New Valley LLC [Member] | Queens Plaza (23-10 Queens Plaza South)
Schedule of Investments [Line Items]
Investments in real estate ventures	16,834		16,834		16,177
New Valley LLC [Member] | 87 Park (8701 Collins Avenue)
Schedule of Investments [Line Items]
Investments in real estate ventures	8,846		8,846		8,658
New Valley LLC [Member] | 125 Greenwich Street
Schedule of Investments [Line Items]
Investments in real estate ventures	9,780		9,780		9,750
New Valley LLC [Member] | West Hollywood Edition (9040 Sunset Boulevard)
Schedule of Investments [Line Items]
Investments in real estate ventures	7,050		7,050		10,510
New Valley LLC [Member] | 76 Eleventh Avenue
Schedule of Investments [Line Items]
Investments in real estate ventures	18,867		18,867		17,967
New Valley LLC [Member] | Monad Terrace
Schedule of Investments [Line Items]
Investments in real estate ventures	7,774		7,774		6,608
New Valley LLC [Member] | Takanasee
Schedule of Investments [Line Items]
Investments in real estate ventures	4,916		4,916		4,680
New Valley LLC [Member] | ST Portfolio and Maryland Portfolio [Member]
Schedule of Investments [Line Items]
Distributions from non-consolidated real estate businesses			(8,707)
New Valley LLC [Member] | Maryland Portfolio
Schedule of Investments [Line Items]
Investments in real estate ventures	0		0		0
Distributions from non-consolidated real estate businesses				(493)
New Valley LLC [Member] | ST Portfolio
Schedule of Investments [Line Items]
Investments in real estate ventures	9,193		9,193		15,754
New Valley LLC [Member] | Park Lane Hotel and Coral Beach and Tennis Club [Member]
Schedule of Investments [Line Items]
Investments in real estate ventures			3,005	1,980
New Valley LLC [Member] | Park Lane Hotel
Schedule of Investments [Line Items]
Investments in real estate ventures	21,138		21,138		19,697
New Valley LLC [Member] | Coral Beach and Tennis Club
Schedule of Investments [Line Items]
Investments in real estate ventures	3,162		3,162		3,159
New Valley LLC [Member] | Hotel Taiwana
Schedule of Investments [Line Items]
Investments in real estate ventures	7,786		7,786		7,069
New Valley LLC [Member] | The Plaza at Harmon Meadow
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 3,682		3,682		5,449
New Valley LLC [Member] | Chelsea Eleven LLC
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments		236
Distributions from non-consolidated real estate businesses				(236)
New Valley LLC [Member] | 20 Times Square, 160 Leroy Street, West Hollywood Edition, and Monad Terrace
Schedule of Investments [Line Items]
Investments in real estate ventures			8,801
New Valley LLC [Member] | 215 Chrystie Street, 76 Eleventh Avenue and Monad Terrace
Schedule of Investments [Line Items]
Investments in real estate ventures				27,091
New Valley LLC [Member] | 10 Madison Square West, the Marquand, West Hollywood Edition [Member]
Schedule of Investments [Line Items]
Distributions from non-consolidated real estate businesses			$ (19,985)
New Valley LLC [Member] | Insurance consulting company
Schedule of Investments [Line Items]
Equity-method ownership percentage	50.00%		50.00%
New Valley LLC [Member] | Harmon Meadow
Schedule of Investments [Line Items]
Distributions from non-consolidated real estate businesses			$ (235)
New Valley LLC [Member] | Escena
Schedule of Investments [Line Items]
Investments in real estate, net	$ 10,644		10,644		10,716
New Valley LLC [Member] | Escena | Escena
Schedule of Investments [Line Items]
Land and land improvements	8,907		8,907		8,907
Building and building improvements	1,874		1,874		1,875
Investments in real estate, net	2,001		2,001		1,923
Total investment in Escena before depreciation	12,782		12,782		12,705
Less accumulated depreciation	(2,138)		(2,138)		(1,989)
Assets of Escena, net	10,644		10,644		10,716
New Valley LLC [Member] | Sagaponack
Schedule of Investments [Line Items]
Investments in real estate, net	12,684		12,684		12,602
Total investment in Escena before depreciation						$ 12,502
New Valley LLC [Member] | Condominium and Mixed Use Development
Schedule of Investments [Line Items]
Investments in real estate ventures	159,454		159,454		164,023
Equity in earnings (losses) from investments	2,962	138	1,779	675
Maximum exposure to loss as a result of this investment	$ 140,667		$ 140,667
New Valley LLC [Member] | Condominium and Mixed Use Development | Minimum
Schedule of Investments [Line Items]
Equity-method ownership percentage	3.10%		3.10%
New Valley LLC [Member] | Condominium and Mixed Use Development | Maximum
Schedule of Investments [Line Items]
Equity-method ownership percentage	49.50%		49.50%
New Valley LLC [Member] | Condominium and Mixed Use Development | 10 Madison Square Park West (1107 Broadway)
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments	$ 3,788		$ 4,211
New Valley LLC [Member] | Condominium and Mixed Use Development | Other Condominiums and Mixed-Use Development Projects [Member]
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments	(826)		34
New Valley LLC [Member] | Condominium and Mixed Use Development | The Marquand (11 East 68th Street) [Member]
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(962)
New Valley LLC [Member] | Condominium and Mixed Use Development | 11 Beach Street
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(160)
New Valley LLC [Member] | Condominium and Mixed Use Development | 111 Murray Street
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(247)
New Valley LLC [Member] | Condominium and Mixed Use Development | 215 Chrystie Street
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(144)
New Valley LLC [Member] | Condominium and Mixed Use Development | Queens Plaza (23-10 Queens Plaza South)
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(122)
New Valley LLC [Member] | Condominium and Mixed Use Development | 87 Park (8701 Collins Avenue)
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(250)
New Valley LLC [Member] | Condominium and Mixed Use Development | West Hollywood Edition (9040 Sunset Boulevard)
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(177)
New Valley LLC [Member] | Condominium and Mixed Use Development | Monad Terrace
Schedule of Investments [Line Items]
Equity in earnings (losses) from investments			(404)
New Valley LLC [Member] | Apartment Buildings
Schedule of Investments [Line Items]
Investments in real estate ventures	9,193		9,193		15,754
Equity in earnings (losses) from investments	1,630	1,848	2,146	1,801
Maximum exposure to loss as a result of this investment	$ 9,193		$ 9,193
New Valley LLC [Member] | Apartment Buildings | Minimum
Schedule of Investments [Line Items]
Equity-method ownership percentage	7.60%		7.60%
New Valley LLC [Member] | Apartment Buildings | Maximum
Schedule of Investments [Line Items]
Equity-method ownership percentage	16.30%		16.30%
New Valley LLC [Member] | Hotels
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 32,086		$ 32,086		29,925
Equity in earnings (losses) from investments	(189)	(261)	(844)	(1,006)
Maximum exposure to loss as a result of this investment	$ 32,086		$ 32,086
New Valley LLC [Member] | Hotels | Minimum
Schedule of Investments [Line Items]
Equity-method ownership percentage	5.20%		5.20%
New Valley LLC [Member] | Hotels | Maximum
Schedule of Investments [Line Items]
Equity-method ownership percentage	49.00%		49.00%
New Valley LLC [Member] | Commercial
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 3,682		$ 3,682		5,449
Equity in earnings (losses) from investments	(1,744)	$ 27	(1,532)	$ 27
Maximum exposure to loss as a result of this investment	3,682		3,682
New Valley LLC [Member] | Other
Schedule of Investments [Line Items]
Investments in real estate ventures	1,724		1,724		$ 2,017
Douglas Elliman Realty LLC [Member]
Schedule of Investments [Line Items]
Proceeds from commissions received	$ 5,674		$ 8,079

Notes Payable, Long-Term Debt56

Notes Payable, Long-Term Debt and Other Obligations (Details) - USD ($)	May 09, 2016	Feb. 03, 2015	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			$ 1,161,518,000	$ 895,168,000
Less: Debt issuance costs			(34,172,000)	(30,141,000)
Total notes payable, long-term debt and other obligations			1,127,346,000	865,027,000
Less: Current maturities			(16,615,000)	(8,919,000)
Amount due after one year			1,110,731,000	856,108,000
Fair value of derivatives embedded within convertible debt			126,932,000	144,042,000
Common Stock
Debt Instrument [Line Items]
Note conversion (in shares)		2,338,930
Senior Notes | 7.75% Senior Secured Notes due 2021, including premium of $15,391 and $8,014
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			850,391,000	608,014,000
Premium			15,391,000	8,014,000
Interest rate	7.75%
Redemption price	103.50%
Net proceeds from issuance of debt	$ 236,900,000
Principal amount	$ 235,000,000		835,000,000
Convertible Debt | 7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $121,788 and $132,119
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			108,212,000	97,881,000
Unamortized discount			$ 121,788,000	132,119,000
Interest rate			7.50%
Fair value of derivatives embedded within convertible debt			$ 61,998,000	$ 72,083,000
Note conversion (in shares)			62.5743	62.5743
Convertible Debt | 5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $79,010 and $86,136
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			$ 179,740,000	$ 172,614,000
Unamortized discount			$ 79,010,000	86,136,000
Interest rate			5.50%
Fair value of derivatives embedded within convertible debt			$ 64,934,000	$ 71,959,000
Note conversion (in shares)			40.5891	40.5891
Convertible Debt | 6.75% Variable Interest Senior Convertible Note due 2015
Debt Instrument [Line Items]
Interest rate		6.75%
Convertible principal balance		$ 25,000,000
Principal amount		50,000,000
Increase in equity from conversion		$ 25,000,000
Line of Credit | Liggett
Debt Instrument [Line Items]
Amount outstanding			$ 15,955,000
Remaining borrowing capacity			44,000,000
Line of Credit | Term loan under credit facility | Liggett
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			3,147,000	$ 3,269,000
Line of Credit | Revolving credit facility | Liggett
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			12,808,000	3,213,000
Equipment loans | Liggett
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			6,866,000	9,716,000
Other
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations			$ 354,000	$ 461,000

Notes Payable, Long-Term Debt57

Notes Payable, Long-Term Debt and Other Obligations (Convertible Notes Table) (Details) - Convertible Debt	6 Months Ended	12 Months Ended
	Jun. 30, 2016shares	Dec. 31, 2015shares
7.5% Variable Interest Senior Convertible Notes due 2019
Debt Instrument [Line Items]
Conversion Price (in dollars per share)	15.98	15.98
Note conversion (in shares)	62.5743	62.5743
5.5% Variable Interest Senior Convertible Debentures due 2020
Debt Instrument [Line Items]
Conversion Price (in dollars per share)	24.64	24.64
Note conversion (in shares)	40.5891	40.5891

Notes Payable, Long-Term Debt58

Notes Payable, Long-Term Debt and Other Obligations (Non Cash Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Debt Disclosure [Abstract]
Amortization of debt discount, net	$ 8,653	$ 6,213	$ 16,609	$ 11,840
Amortization of debt issuance costs	1,401	1,022	2,569	1,988
Non-cash Interest Expense	$ 10,054	$ 7,235	$ 19,178	$ 13,828

Notes Payable, Long-Term Debt59

Notes Payable, Long-Term Debt and Other Obligations (Fair Value of Notes Payable and Long Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	$ 1,513,012	$ 1,297,875
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	$ 1,161,518	$ 895,168

Contingencies (Overview and Bon

Contingencies (Overview and Bonds) (Details) - Liggett - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2009
Loss Contingencies [Line Items]
Tobacco product liability legal expenses and costs	$ 1,707	$ 3,158	$ 5,878	$ 5,713
Engle Progeny Cases | Florida
Loss Contingencies [Line Items]
Maximum bond required for judgments on appeal					$ 200,000
Maximum bond required for judgments on appeal per case					$ 5,000
Bonds | Putney, Calloway, Boatright, Buchanan and Ward Cases
Loss Contingencies [Line Items]
Security posted for appeal of judgment	$ 10,767		$ 10,767

Contingencies (Cautionary State

Contingencies (Cautionary Statement About Engle Progeny Cases) (Details) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Oct. 31, 2013USD ($)case	Jun. 30, 2016case	Jun. 30, 2016USD ($)case
Engle Progeny Cases
Loss Contingencies [Line Items]
Cases with judgments (more than)		100	100
Liggett | Engle Progeny Cases
Loss Contingencies [Line Items]
Cases with verdicts		24	24
Cases with verdicts in favor of plaintiffs		15	15
Cases with verdicts in favor of defendants		9	9
Cases with verdicts in favor of plaintiffs and punitive damages awarded		4	4
Cases settled	4,900
Amount of litigation settlement to (against) entity | $	$ (110,000)
Liggett | Irimi and Cohen
Loss Contingencies [Line Items]
Cases with verdicts where defendants motion for new trial granted		2	2
Liggett and Vector Tobacco | Engle Progeny Cases
Loss Contingencies [Line Items]
Cases settled		1	175
Amount of litigation settlement to (against) entity | $			$ (5,999)

Contingencies (Individual Actio

Contingencies (Individual Actions) (Details) - Individual Actions Cases	Jun. 30, 2016case
Loss Contingencies [Line Items]
Cases pending	38
Liggett
Loss Contingencies [Line Items]
Cases pending	3
Liggett | Maryland
Loss Contingencies [Line Items]
Cases pending	13
Liggett | Florida
Loss Contingencies [Line Items]
Cases pending	11
Liggett | New York
Loss Contingencies [Line Items]
Cases pending	7
Liggett | Louisiana
Loss Contingencies [Line Items]
Cases pending	3
Liggett | West Virginia
Loss Contingencies [Line Items]
Cases pending	2
Liggett | Missouri
Loss Contingencies [Line Items]
Cases pending	1
Liggett | Ohio
Loss Contingencies [Line Items]
Cases pending	1

Contingencies (Engle Progeny Ca

Contingencies (Engle Progeny Cases and Settlement) (Details) $ in Thousands	1 Months Ended						3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2015	Oct. 31, 2013USD ($)case	May 31, 2003USD ($)plaintiff	Jul. 31, 2000USD ($)	Apr. 30, 2000USD ($)	Jul. 31, 1999plaintiff	Jun. 30, 2016USD ($)case	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)case	Jun. 30, 2015USD ($)	Dec. 31, 2013USD ($)
Loss Contingencies [Line Items]
Litigation settlement and judgment expense							$ 0	$ 1,250	$ 2,350	$ 2,093
Engle Progeny Cases
Loss Contingencies [Line Items]
Number of plaintiffs | plaintiff						3
Compensatory damages awarded					$ 12,704
Punitive damages awarded				$ 145,000,000
Number of favorable plaintiff verdicts | plaintiff			1
Damages awarded and subsequently overturned			$ 5,831
Number of unfavorable plaintiff verdicts | plaintiff			2
Liggett | Engle Progeny Cases
Loss Contingencies [Line Items]
Punitive damages awarded				$ 790,000
Cases settled | case		4,900
Litigation settlement amount paid in lump sum		$ 61,600
Litigation settlement, installment term	14 years
Cases settled and dismissed | case		4,900
Litigation settlement and judgment expense											$ 86,213
Litigation settlement and judgment expense, amount discounted											$ 25,213
Discount rate		11.00%
Litigation settlement amount paid in installment payments		$ 48,000
Litigation settlement amount of estimated future payments per annum		$ 3,400
Cases pending | case							245		245
Liggett | Lukacs, Campbell, Douglas, Clay, Tullo, Ward Rizzuto, Lambert and Buchanan
Loss Contingencies [Line Items]
Payments for legal settlements									$ 39,773

Contingencies (Engle Progeny Ju

Contingencies (Engle Progeny Judgments Schedule) (Details) - USD ($) $ in Thousands	Jan. 06, 2016	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May 31, 2013	Jun. 30, 2016
Liggett
Loss Contingencies [Line Items]
Compensatory damages accrued, paid or compromised						$ (24,328)
Punitive damages accrued, paid or compromised						(10,500)
Liggett | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						28,866
Punitive damages awarded						10,800
Liggett | Pending Litigation
Loss Contingencies [Line Items]
Compensatory damages awarded						4,538
Punitive damages awarded						300
Liggett | Lukacs v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						12,418
Punitive damages awarded						0
Liggett | Campbell v R J Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						156
Punitive damages awarded						0
Liggett | Douglas v R J Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						1,350
Punitive damages awarded						0
Liggett | Clay v R J Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						349
Punitive damages awarded						1,000
Liggett | Putney v R J Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						3,008
Punitive damages awarded						0
Liggett | Tullo v R J Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						225
Punitive damages awarded						0
Liggett | Ward v R J Reynolds
Loss Contingencies [Line Items]
Attorneys' fees and costs awarded						981
Liggett | Ward v R J Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						1
Punitive damages awarded						0
Liggett | Calloway v RJ Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						1,530
Punitive damages awarded						0
Liggett | Buchanan v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						2,750
Punitive damages awarded						0
Liggett | Cohen v. R.J. Reynolds
Loss Contingencies [Line Items]
Compensatory damages awarded					$ 205
Apportioned fault percentage to defendant					10.00%
Liggett | Cohen v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						0
Punitive damages awarded						0
Liggett | Rizzuto v. R.J. Reynolds
Loss Contingencies [Line Items]
Amount of litigation settlement to (against) entity						(1,500)
Liggett | Rizzuto v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						3,479
Punitive damages awarded						0
Liggett | Irimi v. R.J. Reynolds
Loss Contingencies [Line Items]
Compensatory damages awarded				$ 31
Apportioned fault percentage to defendant				1.00%
Liggett | Irimi v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						0
Punitive damages awarded						0
Liggett | Lambert v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						3,600
Punitive damages awarded						9,500
Liggett | Boatright v. R.J. Reynolds
Loss Contingencies [Line Items]
Compensatory damages awarded			$ 12,750
Punitive damages awarded			$ 300
Liggett | Boatright v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						0
Punitive damages awarded						300
Liggett | Caprio v. R.J. Reynolds | Judicial Ruling
Loss Contingencies [Line Items]
Compensatory damages awarded						0
Punitive damages awarded						0
RJ Reynolds | Cohen v. R.J. Reynolds
Loss Contingencies [Line Items]
Compensatory damages awarded					$ 2,055
RJ Reynolds | Irimi v. R.J. Reynolds
Loss Contingencies [Line Items]
Compensatory damages awarded				$ 3,123
RJ Reynolds | Boatright v. R.J. Reynolds
Loss Contingencies [Line Items]
Apportioned fault percentage to plaintiff			15.00%
RJ Reynolds | Caprio v. R.J. Reynolds
Loss Contingencies [Line Items]
Economic damages awarded		$ 559
R.J. Reynolds, Phillip Morris, Lorillard, and Liggett | Calloway v RJ Reynolds
Loss Contingencies [Line Items]
Damages awarded						$ 16,100
Punitive damages reversed	$ 7,600
Phillip Morris | Boatright v. R.J. Reynolds
Loss Contingencies [Line Items]
Compensatory damages awarded			$ 15,000
Punitive damages awarded			$ 19,700
Apportioned fault percentage to defendant			85.00%

Contingencies (Appeals of Engle

Contingencies (Appeals of Engle Progeny Judgments, Maryland and Only Liggett Cases) (Details) $ in Thousands	1 Months Ended
	Mar. 31, 2012case	Jun. 30, 2016USD ($)case
Engle Progeny Cases
Loss Contingencies [Line Items]
Number of cases declined for review by supreme court	2
Individual Actions Cases
Loss Contingencies [Line Items]
Cases pending		38
Liggett | Engle Progeny Cases
Loss Contingencies [Line Items]
Cases pending		245
Liggett | Putney, Calloway, Cohen, Irimi, Lambert, Boatright and Caprio [Member] | Minimum
Loss Contingencies [Line Items]
Estimate of possible loss | $		$ 0
Liggett | Putney, Calloway, Cohen, Irimi, Lambert, Boatright and Caprio [Member] | Maximum
Loss Contingencies [Line Items]
Estimate of possible loss | $		$ 4,838
Liggett | Individual Actions Cases
Loss Contingencies [Line Items]
Cases pending		3
Pending claims with no activity		2
Maryland | Synergy Exposure Cases
Loss Contingencies [Line Items]
Cases pending		20
Maryland | Liggett | Individual Actions Cases
Loss Contingencies [Line Items]
Cases pending		13

Contingencies (Class Actions, H

Contingencies (Class Actions, Health Care Cost Recovery Actions, and Upcoming Trials) (Details) $ in Thousands	1 Months Ended					3 Months Ended	6 Months Ended
	Jul. 31, 2015plaintiffclaimscase	Oct. 31, 2013case	May 31, 2013case	May 31, 2009	Jul. 31, 1999plaintiff	Jun. 30, 2016defendantcase	Jun. 30, 2016USD ($)defendantcase	Dec. 31, 2001case
Parsons v. AC & S Inc.
Loss Contingencies [Line Items]
Damages sought | $							$ 1,000
Number of defendants in bankruptcy | defendant						3	3
Department of Justice Lawsuit
Loss Contingencies [Line Items]
Required reporting period				10 years
Engle Progeny Cases
Loss Contingencies [Line Items]
Number of plaintiffs | plaintiff					3
Pending claims scheduled for trial						16	16
Individual Actions Cases
Loss Contingencies [Line Items]
Cases pending						38	38
Pending claims scheduled for trial						2	2
Liggett | Class Actions
Loss Contingencies [Line Items]
Cases pending						3	3
Liggett | Crow Creek Sioux Tribe v. American Tobacco Company
Loss Contingencies [Line Items]
Cases pending						1	1
Liggett | Engle Progeny Cases
Loss Contingencies [Line Items]
Cases pending						245	245
Cases settled		4,900
Liggett | Individual Actions Cases
Loss Contingencies [Line Items]
Cases pending						3	3
Liggett and Vector Tobacco | Engle Progeny Cases
Loss Contingencies [Line Items]
Cases settled						1	175
West Virginia | Tobacco Litigation Personal Injury Cases
Loss Contingencies [Line Items]
Cases pending								750
Number of mistrials			2
Claims dismissed			1
Number of plaintiffs	30
Number of consolidated trials | claims	6
Number of plaintiffs in each trial | plaintiff	5
West Virginia | Liggett | Tobacco Litigation Personal Injury Cases
Loss Contingencies [Line Items]
Cases pending						25	25
West Virginia | Liggett | Individual Actions Cases
Loss Contingencies [Line Items]
Cases pending						2	2

Contingencies (MSA and Other St

Contingencies (MSA and Other State Settlement Agreements) (Details)	Dec. 30, 2015USD ($)	Jun. 30, 2016USD ($)sponsorship	Dec. 31, 2015USD ($)	Mar. 31, 1998USD ($)state
Health Care Cost Recovery Actions
Loss Contingencies [Line Items]
Number of states with settled litigation | state				46
Number of brand name sponsorships allowed | sponsorship		1
Brand name sponsorship period		12 months
Annual payment requirement				$ 9,000,000,000
Liggett
Loss Contingencies [Line Items]
Number of states with settled litigation | state				45
Liggett | Health Care Cost Recovery Actions
Loss Contingencies [Line Items]
Estimated litigation liability		$ 0
Percentage of cigarettes sales exceeds market share exemption		1.65%
Vector Tobacco | Health Care Cost Recovery Actions
Loss Contingencies [Line Items]
Estimated litigation liability		$ 0
Percentage of cigarettes sales exceeds market share exemption		0.28%
Liggett and Vector Tobacco | Health Care Cost Recovery Actions
Loss Contingencies [Line Items]
Annual payment requirement			$ 115,000,000
Payments for legal settlements	$ 100,000,000
Cigarettes | Sales Revenue | Liggett and Vector Tobacco
Loss Contingencies [Line Items]
Concentration risk percentage			3.30%

Contingencies (Certain MSA Disp

Contingencies (Certain MSA Disputes) (Details) $ in Thousands	1 Months Ended	6 Months Ended	36 Months Ended
	Jun. 30, 2010state	Jun. 30, 2016USD ($)state	Dec. 31, 2015USD ($)	Sep. 30, 2013state	Jun. 30, 2013state
2003 NPM Adjustment
Loss Contingencies [Line Items]
Number of states agreed to single arbitration		48
Aggregate number of settling states		49
Reduction in NPM adjustment, percent		20.00%
Number of settling states with diligent enforcement not contested	16
Combined allocable share, percentage	14.00%
Non-settling states				15
Non-settling states that did not diligently enforce escrow statutes		4		6
2003-2012 NPM Adjustment
Loss Contingencies [Line Items]
Settling states wit term sheet		22
Kentucky and Indiana | 2003 NPM Adjustment
Loss Contingencies [Line Items]
Non-settling states that did not diligently enforce escrow statutes					2
Pennsylvania and Maryland | 2003 NPM Adjustment
Loss Contingencies [Line Items]
Reduction in NPM adjustment, percent		50.00%
Missouri and New Mexico | 2003 NPM Adjustment
Loss Contingencies [Line Items]
Non-settling states that did not diligently enforce escrow statutes		2
Liggett and Vector Tobacco | 2004-2010 NPM Adjustment
Loss Contingencies [Line Items]
Amounts accrued | $		$ 20,000
Liggett and Vector Tobacco | Cost of Sales | Health Care Cost Recovery Actions, NPM Adjustment
Loss Contingencies [Line Items]
Settlement adjustment credit | $			$ 22,356
Liggett | 2011-2015 NPM Adjustment
Loss Contingencies [Line Items]
Amounts accrued | $		$ 28,600

Contingencies (_Gross_ v. _Net_

Contingencies (“Gross” v. “Net” Calculations and Other State Settlements) (Details) - Health Care Cost Recovery Actions	Jan. 12, 2016USD ($)	Mar. 31, 2016USD ($)	Jul. 31, 2015USD ($)	Oct. 31, 2014	Feb. 28, 2013	Dec. 31, 2010USD ($)	Dec. 31, 2003USD ($)	Mar. 31, 1998USD ($)state
Loss Contingencies [Line Items]
Annual payment requirement								$ 9,000,000,000
Liggett
Loss Contingencies [Line Items]
Increase in market share value used in calculation of payment obligation					1.25%
Claims dismissed, Increase in market share value used in calculation of payment obligation				1.25%
Damages awarded		$ 8,100,000	$ 16,000,000
Number of states not included in settlement agreement | state								4
MINNESOTA | Liggett
Loss Contingencies [Line Items]
Annual payment requirement							$ 100,000
Florida | Liggett
Loss Contingencies [Line Items]
Annual payment requirement						$ 250,000
Amount of litigation settlement to (against) entity						$ (1,200,000)
Years annual payments required						21 years
Years annual payments required that are subject to inflation adjustment						12 years
MISSISSIPPI | Liggett
Loss Contingencies [Line Items]
Damages sought	$ 26,000,000

Contingencies (Activity in Accr

Contingencies (Activity in Accruals for MSA and Tobacco Litigation Schedule) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Loss Contingency Accrual [Roll Forward]
Current liabilities, beginning balance	$ 52,145	$ 29,471
Expenses	45,220	55,925
Change in MSA obligations capitalized as inventory	69	1,011
Payments	(38,392)	(23,787)
Interest on withholding	355	178
Current liabilities, ending balance	60,486	66,103
Noncurrent liabilities, beginning balance	44,812	51,509
Expenses		(195)
Reclassification from non-current liabilities	(1,089)	(3,305)
Interest on withholding	1,153	1,244
Noncurrent liabilities, ending balance	44,876	49,253
Settled Litigation
Loss Contingency Accrual [Roll Forward]
Current liabilities, beginning balance	29,241	26,322
Expenses	42,637	53,435
Change in MSA obligations capitalized as inventory	69	1,011
Payments	(12,847)	(18,142)
Interest on withholding	35	0
Current liabilities, ending balance	56,972	62,626
Noncurrent liabilities, beginning balance	20,094	25,809
Expenses		0
Reclassification from non-current liabilities	2,163	0
Interest on withholding	0	0
Noncurrent liabilities, ending balance	22,257	25,809
Pending Litigation
Loss Contingency Accrual [Roll Forward]
Current liabilities, beginning balance	22,904	3,149
Expenses	2,583	2,490
Change in MSA obligations capitalized as inventory	0	0
Payments	(25,545)	(5,645)
Interest on withholding	320	178
Current liabilities, ending balance	3,514	3,477
Noncurrent liabilities, beginning balance	24,718	25,700
Expenses		(195)
Reclassification from non-current liabilities	(3,252)	(3,305)
Interest on withholding	1,153	1,244
Noncurrent liabilities, ending balance	$ 22,619	$ 23,444

Contingencies (Other Matters) (

Contingencies (Other Matters) (Details) $ in Thousands	Jun. 30, 2016USD ($)
Liggett Vector Brands | Bonds | Maximum
Loss Contingencies [Line Items]
Estimate of possible loss	$ 500

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost — benefits earned during the period	$ 137	$ 133	$ 274	$ 265
Interest cost on projected benefit obligation	1,355	1,280	2,710	2,598
Expected return on assets	(1,519)	(1,888)	(3,038)	(3,813)
Settlement loss	0	1,607	0	1,607
Amortization of net loss (gain)	464	278	928	569
Net expense	437	1,410	874	1,226
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost — benefits earned during the period	1	2	2	4
Interest cost on projected benefit obligation	97	93	194	185
Expected return on assets	0	0	0	0
Settlement loss	0	0	0	0
Amortization of net loss (gain)	(19)	(24)	(38)	(48)
Net expense	$ 79	$ 71	$ 158	$ 141

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 0	$ 0	$ 41	$ 0
Tobacco
Restructuring Reserve [Roll Forward]
Accrual balance as of January 1, 2016			490
Restructuring charges			41
Utilized			(424)
June 30, 2016	107		107
Tobacco | Employee Severance and Benefits
Restructuring Reserve [Roll Forward]
Accrual balance as of January 1, 2016			422
Restructuring charges			0
Utilized			(315)
June 30, 2016	107		107
Tobacco | Contract Termination/Exit Costs
Restructuring Reserve [Roll Forward]
Accrual balance as of January 1, 2016			48
Restructuring charges			41
Utilized			(89)
June 30, 2016	0		0
Tobacco | Other
Restructuring Reserve [Roll Forward]
Accrual balance as of January 1, 2016			20
Restructuring charges			0
Utilized			(20)
June 30, 2016	$ 0		$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 46,340	$ 30,622	$ 82,096	$ 64,970
Income tax expense using estimated annual effective income tax rate	18,793	11,347	33,317	24,145
Changes in effective tax rates	210	(78)	0	0
Impact of discrete items, net	0	(91)	49	(100)
Income tax expense	$ 19,003	$ 11,178	$ 33,366	$ 24,045

Investments and Fair Value Me75

Investments and Fair Value Measurements (Fair Value Measurements) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Assets:
Investment securities available for sale	$ 160,854	$ 181,976
Liabilities:
Fair value of derivatives embedded within convertible debt	126,932	144,042
Long-term investments	59,369	62,726
Investments in real estate, net	23,328	23,318
5.5% Variable Interest Senior Convertible Debentures due 2020 | Convertible Debt
Liabilities:
Fair value of derivatives embedded within convertible debt	$ 64,934	71,959
Interest rate	5.50%
Equity securities
Assets:
Investment securities available for sale	$ 55,309	67,273
Mutual funds invested in fixed income securities
Assets:
Investment securities available for sale	20,518	20,111
Fair Value, Measurements, Recurring
Assets:
Investment securities available for sale	160,854	181,976
Total	553,486	292,127
Liabilities:
Fair value of derivatives embedded within convertible debt	126,932	144,042
Fair Value, Measurements, Recurring | Equity securities
Assets:
Investment securities available for sale	55,309	67,273
Fair Value, Measurements, Recurring | Mutual funds invested in fixed income securities
Assets:
Investment securities available for sale	20,518	20,111
Fair Value, Measurements, Recurring | U.S. Government securities
Assets:
Investment securities available for sale	27,456	28,132
Fair Value, Measurements, Recurring | Corporate securities
Assets:
Investment securities available for sale	35,660	41,561
Fair Value, Measurements, Recurring | U.S. mortgage-backed securities
Assets:
Investment securities available for sale	7,343	5,790
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Assets:
Investment securities available for sale	3,675	8,728
Fair Value, Measurements, Recurring | U.S. asset-backed securities
Assets:
Investment securities available for sale	2,115	8,276
Fair Value, Measurements, Recurring | Commercial paper
Assets:
Investment securities available for sale	7,985
Fair Value, Measurements, Recurring | Index-linked U.S. bonds
Assets:
Investment securities available for sale	793	2,105
Fair Value, Measurements, Recurring | Fixed income securities
Assets:
Investment securities available for sale	85,027	94,592
Fair Value, Measurements, Recurring | Money market funds
Assets:
Cash and cash equivalents	336,845	93,915
Fair Value, Measurements, Recurring | Commercial paper
Assets:
Cash and cash equivalents	42,044
Fair Value, Measurements, Recurring | Certificates of deposit
Assets:
Cash and cash equivalents	2,976	3,469
Fair Value, Measurements, Recurring | Bonds
Assets:
Cash and cash equivalents	10,767	12,767
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Investment securities available for sale	75,827	87,384
Total	423,439	194,066
Liabilities:
Fair value of derivatives embedded within convertible debt	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities
Assets:
Investment securities available for sale	55,309	67,273
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds invested in fixed income securities
Assets:
Investment securities available for sale	20,518	20,111
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Government securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. mortgage-backed securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial mortgage-backed securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. asset-backed securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper
Assets:
Investment securities available for sale	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Index-linked U.S. bonds
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fixed income securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Assets:
Cash and cash equivalents	336,845	93,915
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper
Assets:
Cash and cash equivalents	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Certificates of deposit
Assets:
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Bonds
Assets:
Cash and cash equivalents	10,767	12,767
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Investment securities available for sale	85,027	94,592
Total	130,047	98,061
Liabilities:
Fair value of derivatives embedded within convertible debt	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Equity securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Mutual funds invested in fixed income securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government securities
Assets:
Investment securities available for sale	27,456	28,132
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Corporate securities
Assets:
Investment securities available for sale	35,660	41,561
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. mortgage-backed securities
Assets:
Investment securities available for sale	7,343	5,790
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial mortgage-backed securities
Assets:
Investment securities available for sale	3,675	8,728
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. asset-backed securities
Assets:
Investment securities available for sale	2,115	8,276
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial paper
Assets:
Investment securities available for sale	7,985
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Index-linked U.S. bonds
Assets:
Investment securities available for sale	793	2,105
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Fixed income securities
Assets:
Investment securities available for sale	85,027	94,592
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Money market funds
Assets:
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial paper
Assets:
Cash and cash equivalents	42,044
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Certificates of deposit
Assets:
Cash and cash equivalents	2,976	3,469
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Bonds
Assets:
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Investment securities available for sale	0	0
Total	0	0
Liabilities:
Fair value of derivatives embedded within convertible debt	126,932	144,042
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Equity securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Mutual funds invested in fixed income securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. Government securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Corporate securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. mortgage-backed securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Commercial mortgage-backed securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. asset-backed securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Commercial paper
Assets:
Investment securities available for sale	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Index-linked U.S. bonds
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Fixed income securities
Assets:
Investment securities available for sale	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Money market funds
Assets:
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Commercial paper
Assets:
Cash and cash equivalents	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Certificates of deposit
Assets:
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Bonds
Assets:
Cash and cash equivalents	0	0
Fair Value, Measurements, Nonrecurring
Liabilities:
Long-term investments, fair value	6,396	11,189
Real estate held for sale, fair value		3,780
Nonrecurring nonfinancial assets subject to fair value measurements		14,969
Gain (loss) on long-term investments	(1,203)	(811)
Gain (loss) on real estate held for sale		(230)
Gain (loss) on long-term investments and real estate held for sale		(1,041)
Impairment charge included in earnings	1,203	811
Long-term investments	7,599	12,000
Investments in real estate, net		4,010
Impairment of real estate		230
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3)
Liabilities:
Long-term investments, fair value	$ 6,396	11,189
Real estate held for sale, fair value		3,780
Nonrecurring nonfinancial assets subject to fair value measurements		$ 14,969

Investments and Fair Value Me76

Investments and Fair Value Measurements (Quantitative Information about Level 3 Fair Value Measurements) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value of derivatives embedded within convertible debt	$ 126,932	$ 144,042
Significant Unobservable Inputs (Level 3) | Discounted cash flow
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value of derivatives embedded within convertible debt	$ 126,932	$ 144,042
Assumed annual stock dividend	5.00%	5.00%
Assumed annual cash dividend (in dollars per share)	$ 1.60	$ 1.60
Stock price (in dollars per share)	$ 22.42	$ 23.59
Convertible trading price (as a percentage of par value)	110.88%	114.31%
Volatility	19.33%	18.30%
Implied credit spread	6.50%	5.25%
Significant Unobservable Inputs (Level 3) | Discounted cash flow | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Implied credit spread	6.00%	5.00%
Significant Unobservable Inputs (Level 3) | Discounted cash flow | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Implied credit spread	7.00%	5.50%

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Revenues		$ 438,273	$ 416,173	$ 819,073	$ 776,933
Operating income (loss)		70,720	55,803	132,879	99,521
Equity in earnings from real estate ventures		2,813	1,856	2,306	2,194
Depreciation and amortization		5,870	6,442	11,034	12,723
Capital expenditures				7,615	5,379
Litigation settlement and judgment expense		0	1,250	2,350	2,093
Pension settlement expense			1,607		1,607
Restructuring charges		0	0	41	0
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Revenues		0	0	0	0
Operating income (loss)		(6,911)	(4,904)	(13,716)	(9,843)
Equity in earnings from real estate ventures		0	0	0	0
Depreciation and amortization		428	435	870	872
Capital expenditures				26	0
Tobacco
Segment Reporting Information [Line Items]
Revenues	[1]	255,498	254,890	476,513	482,975
Restructuring charges				41
Tobacco | Operating Segments
Segment Reporting Information [Line Items]
Revenues		255,498	254,890	476,513	482,975
Operating income (loss)		66,016	56,215	127,499	105,885
Equity in earnings from real estate ventures		0	0	0	0
Depreciation and amortization		2,499	2,931	4,939	5,867
Capital expenditures				3,716	2,350
E-Cigarettes
Segment Reporting Information [Line Items]
Revenues		10	261	48	680
E-Cigarettes | Operating Segments
Segment Reporting Information [Line Items]
Revenues		10	261	48	680
Operating income (loss)		(91)	(2,400)	(284)	(5,564)
Equity in earnings from real estate ventures		0	0	0	0
Depreciation and amortization		0	0	0	0
Capital expenditures				0	0
Real Estate
Segment Reporting Information [Line Items]
Revenues		182,765	161,022	342,512	293,278
Real Estate | Operating Segments
Segment Reporting Information [Line Items]
Revenues		182,765	161,022	342,512	293,278
Operating income (loss)		11,706	6,892	19,380	9,043
Equity in earnings from real estate ventures		2,813	1,856	2,306	2,194
Depreciation and amortization		$ 2,943	$ 3,076	5,225	5,984
Capital expenditures				$ 3,873	$ 3,029
[1]	Revenues and cost of sales include federal excise taxes of $106,861, $108,912, $197,707 and $206,271, respectively.

Condensed Consolidating Finan78

Condensed Consolidating Financial Information (Narrative) (Details) - 7.75% Senior Secured Notes Due 2021 [Member] - Senior Notes	6 Months Ended
	Jun. 30, 2016USD ($)	May 09, 2016USD ($)
Condensed Financial Statements, Captions [Line Items]
Principal amount	$ 835,000,000	$ 235,000,000
Interest rate		7.75%
Indenture threshold for earnings for payment of dividends (less than)	$ 75,000,000
Leverage ratio requirement	3
Secured leverage ratio requirement	1.5

Condensed Consolidating Finan79

Condensed Consolidating Financial Information (Balance Sheets) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 474,738	$ 240,368	$ 238,323	$ 326,365
Investment securities available for sale	160,854	181,976
Accounts receivable - trade, net	25,076	23,889
Intercompany receivables	0	0
Inventories	92,735	86,516
Income taxes receivable, net	218	2,841
Restricted assets	9,437	9,195
Other current assets	40,163	38,954
Total current assets	803,221	583,739
Property, plant and equipment, net	71,904	75,632
Investments in real estate, net	23,328	23,318
Long-term investments	59,369	62,726
Investments in real estate ventures	206,139	217,168
Investments in consolidated subsidiaries	0	0
Restricted assets	9,386	12,303
Goodwill and other intangible assets, net	262,866	263,959
Prepaid pension costs	21,302	20,650
Other assets	21,985	21,120
Total assets	1,479,500	1,280,615
Current liabilities:
Current portion of notes payable and long-term debt	16,615	8,919
Current portion of employee benefits	914	915
Intercompany payables	0	0
Income taxes payable, net	0	96
Litigation accruals and current payments due under the Master Settlement Agreement	60,486	52,145
Other current liabilities	140,388	154,217
Total current liabilities	218,403	216,292
Notes payable, long-term debt and other obligations, less current portion	1,110,731	856,108
Fair value of derivatives embedded within convertible debt	126,932	144,042
Non-current employee benefits	55,308	55,055
Deferred income taxes, net	87,914	79,429
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	55,648	51,850
Total liabilities	1,654,936	1,402,776
Commitments and contingencies (Note 7)
Total Vector Group Ltd. stockholders' deficiency	(257,525)	(206,047)
Non-controlling interest	82,089	83,886
Total stockholders' deficiency	(175,436)	(122,161)
Total liabilities and stockholders' deficiency	1,479,500	1,280,615
Consolidating Adjustments [Member]
Current assets:
Cash and cash equivalents	0	0	0	0
Investment securities available for sale	0	0
Accounts receivable - trade, net	0	0
Intercompany receivables	(16,435)	(11,293)
Inventories	0	0
Income taxes receivable, net	(12,124)	(5,372)
Restricted assets	0	0
Other current assets	0	0
Total current assets	(28,559)	(16,665)
Property, plant and equipment, net	0	0
Investments in real estate, net	0	0
Long-term investments	0	0
Investments in real estate ventures	0	0
Investments in consolidated subsidiaries	(517,365)	(532,501)
Restricted assets	0	0
Goodwill and other intangible assets, net	0	0
Prepaid pension costs	0	0
Other assets	0	0
Total assets	(545,924)	(549,166)
Current liabilities:
Current portion of notes payable and long-term debt	0	0
Current portion of employee benefits	0	0
Intercompany payables	(16,435)	(11,293)
Income taxes payable, net	(12,124)	(5,372)
Litigation accruals and current payments due under the Master Settlement Agreement	0	0
Other current liabilities	0	0
Total current liabilities	(28,559)	(16,665)
Notes payable, long-term debt and other obligations, less current portion	0	0
Fair value of derivatives embedded within convertible debt	0	0
Non-current employee benefits	0	0
Deferred income taxes, net	0	0
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	0	0
Total liabilities	(28,559)	(16,665)
Commitments and contingencies (Note 7)
Total Vector Group Ltd. stockholders' deficiency	(517,365)	(532,501)
Non-controlling interest	0	0
Total stockholders' deficiency	(517,365)	(532,501)
Total liabilities and stockholders' deficiency	(545,924)	(549,166)
Parent/Issuer [Member]
Current assets:
Cash and cash equivalents	335,034	111,470	111,503	211,751
Investment securities available for sale	120,283	131,810
Accounts receivable - trade, net	0	0
Intercompany receivables	16,435	11,293
Inventories	0	0
Income taxes receivable, net	12,342	8,213
Restricted assets	0	0
Other current assets	618	575
Total current assets	484,712	263,361
Property, plant and equipment, net	1,452	1,711
Investments in real estate, net	0	0
Long-term investments	58,414	61,747
Investments in real estate ventures	0	0
Investments in consolidated subsidiaries	517,365	532,501
Restricted assets	1,720	1,713
Goodwill and other intangible assets, net	0	0
Prepaid pension costs	0	0
Other assets	7,621	7,582
Total assets	1,071,284	868,615
Current liabilities:
Current portion of notes payable and long-term debt	0	0
Current portion of employee benefits	0	0
Intercompany payables	0	0
Income taxes payable, net	0	0
Litigation accruals and current payments due under the Master Settlement Agreement	0	0
Other current liabilities	44,520	38,140
Total current liabilities	44,520	38,140
Notes payable, long-term debt and other obligations, less current portion	1,104,171	848,368
Fair value of derivatives embedded within convertible debt	126,932	144,042
Non-current employee benefits	40,075	39,244
Deferred income taxes, net	7,826	2,675
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	5,285	2,193
Total liabilities	1,328,809	1,074,662
Commitments and contingencies (Note 7)
Total Vector Group Ltd. stockholders' deficiency	(257,525)	(206,047)
Non-controlling interest	0	0
Total stockholders' deficiency	(257,525)	(206,047)
Total liabilities and stockholders' deficiency	1,071,284	868,615
Subsidiary Guarantors [Member]
Current assets:
Cash and cash equivalents	32,246	12,375	24,020	9,724
Investment securities available for sale	40,571	50,166
Accounts receivable - trade, net	15,015	15,913
Intercompany receivables	0	0
Inventories	92,735	86,516
Income taxes receivable, net	0	0
Restricted assets	8,523	7,781
Other current assets	3,794	3,747
Total current assets	192,884	176,498
Property, plant and equipment, net	51,122	54,097
Investments in real estate, net	0	0
Long-term investments	454	478
Investments in real estate ventures	0	0
Investments in consolidated subsidiaries	0	0
Restricted assets	7,666	10,590
Goodwill and other intangible assets, net	107,511	107,511
Prepaid pension costs	21,302	20,650
Other assets	12,002	11,769
Total assets	392,941	381,593
Current liabilities:
Current portion of notes payable and long-term debt	16,523	8,733
Current portion of employee benefits	914	915
Intercompany payables	585	586
Income taxes payable, net	11,501	5,464
Litigation accruals and current payments due under the Master Settlement Agreement	60,486	52,145
Other current liabilities	55,350	74,083
Total current liabilities	145,359	141,926
Notes payable, long-term debt and other obligations, less current portion	6,338	7,519
Fair value of derivatives embedded within convertible debt	0	0
Non-current employee benefits	15,233	15,811
Deferred income taxes, net	35,138	33,791
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	45,010	44,982
Total liabilities	247,078	244,029
Commitments and contingencies (Note 7)
Total Vector Group Ltd. stockholders' deficiency	145,863	137,564
Non-controlling interest	0	0
Total stockholders' deficiency	145,863	137,564
Total liabilities and stockholders' deficiency	392,941	381,593
Subsidiary Non-Guarantors [Member]
Current assets:
Cash and cash equivalents	107,458	116,523	$ 102,800	$ 104,890
Investment securities available for sale	0	0
Accounts receivable - trade, net	10,061	7,976
Intercompany receivables	0	0
Inventories	0	0
Income taxes receivable, net	0	0
Restricted assets	914	1,414
Other current assets	35,751	34,632
Total current assets	154,184	160,545
Property, plant and equipment, net	19,330	19,824
Investments in real estate, net	23,328	23,318
Long-term investments	501	501
Investments in real estate ventures	206,139	217,168
Investments in consolidated subsidiaries	0	0
Restricted assets	0	0
Goodwill and other intangible assets, net	155,355	156,448
Prepaid pension costs	0	0
Other assets	2,362	1,769
Total assets	561,199	579,573
Current liabilities:
Current portion of notes payable and long-term debt	92	186
Current portion of employee benefits	0	0
Intercompany payables	15,850	10,707
Income taxes payable, net	623	4
Litigation accruals and current payments due under the Master Settlement Agreement	0	0
Other current liabilities	40,518	41,994
Total current liabilities	57,083	52,891
Notes payable, long-term debt and other obligations, less current portion	222	221
Fair value of derivatives embedded within convertible debt	0	0
Non-current employee benefits	0	0
Deferred income taxes, net	44,950	42,963
Other liabilities, primarily litigation accruals and payments due under the Master Settlement Agreement	5,353	4,675
Total liabilities	107,608	100,750
Commitments and contingencies (Note 7)
Total Vector Group Ltd. stockholders' deficiency	371,502	394,937
Non-controlling interest	82,089	83,886
Total stockholders' deficiency	453,591	478,823
Total liabilities and stockholders' deficiency	$ 561,199	$ 579,573

Condensed Consolidating Finan80

Condensed Consolidating Financial Information (Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 438,273	$ 416,173	$ 819,073	$ 776,933
Expenses:
Cost of sales	283,631	279,204	520,053	521,222
Operating, selling, administrative and general expenses	83,922	79,916	163,750	154,097
Litigation settlement and judgment expense	0	1,250	2,350	2,093
Management fee expense	0	0	0	0
Restructuring charges	0	0	41	0
Operating income	70,720	55,803	132,879	99,521
Other income (expenses):
Interest expense	(36,369)	(31,761)	(67,089)	(63,507)
Change in fair value of derivatives embedded within convertible debt	7,416	5,256	17,110	11,716
Equity in earnings from real estate ventures	2,813	1,856	2,306	2,194
Equity in earnings (losses) from investments	1,089	(2,163)	(582)	(1,551)
Gain (loss) on sale of investment securities available for sale	139	(190)	706	12,839
Impairment of investment securities available for sale	(49)	0	(4,862)	0
Equity income in consolidated subsidiaries	0	0	0	0
Management fee income	0	0	0	0
Other, net	581	1,821	1,628	3,758
Income before provision for income taxes	46,340	30,622	82,096	64,970
Income tax benefit (expense)	(19,003)	(11,178)	(33,366)	(24,045)
Net income	27,337	19,444	48,730	40,925
Net income attributed to non-controlling interest	(3,322)	(1,837)	(5,377)	(2,097)
Net income attributed to Vector Group Ltd.	24,015	17,607	43,353	38,828
Comprehensive income attributed to non-controlling interest	(3,322)	(1,837)	(5,377)	(2,097)
Comprehensive income attributed to Vector Group Ltd.	23,746	17,834	43,127	44,037
Consolidating Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	(140)	(140)	(229)	(259)
Expenses:
Cost of sales	0	0	0	0
Operating, selling, administrative and general expenses	(140)	(140)	(229)	(259)
Litigation settlement and judgment expense		0	0	0
Management fee expense	(2,663)	(2,563)	(5,325)	(5,125)
Restructuring charges			0
Operating income	2,663	2,563	5,325	5,125
Other income (expenses):
Interest expense	0	0	0	0
Change in fair value of derivatives embedded within convertible debt	0	0	0	0
Equity in earnings from real estate ventures	0	0	0	0
Equity in earnings (losses) from investments	0	0	0	0
Gain (loss) on sale of investment securities available for sale	0	0	0	0
Impairment of investment securities available for sale	0		0
Equity income in consolidated subsidiaries	(46,441)	(35,745)	(82,051)	(71,744)
Management fee income	(2,663)	(2,563)	(5,325)	(5,125)
Other, net	0	0	0	0
Income before provision for income taxes	(46,441)	(35,745)	(82,051)	(71,744)
Income tax benefit (expense)	0	0	0	0
Net income	(46,441)	(35,745)	(82,051)	(71,744)
Net income attributed to non-controlling interest	0	0	0	0
Net income attributed to Vector Group Ltd.	(46,441)	(35,745)	(82,051)	(71,744)
Comprehensive income attributed to non-controlling interest	0	0	0	0
Comprehensive income attributed to Vector Group Ltd.	(46,320)	(35,201)	(82,073)	(68,918)
Parent/Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	0	0	0	0
Expenses:
Cost of sales	0	0	0	0
Operating, selling, administrative and general expenses	9,019	7,174	18,215	14,368
Litigation settlement and judgment expense		0	0	0
Management fee expense	0	0	0	0
Restructuring charges			0
Operating income	(9,019)	(7,174)	(18,215)	(14,368)
Other income (expenses):
Interest expense	(35,522)	(30,880)	(65,280)	(61,634)
Change in fair value of derivatives embedded within convertible debt	7,416	5,256	17,110	11,716
Equity in earnings from real estate ventures	0	0	0	0
Equity in earnings (losses) from investments	1,097	(2,147)	(558)	(1,543)
Gain (loss) on sale of investment securities available for sale	139	(190)	315	(336)
Impairment of investment securities available for sale	(49)		(90)
Equity income in consolidated subsidiaries	46,441	35,745	82,051	71,744
Management fee income	2,663	2,563	5,325	5,125
Other, net	(93)	1,192	307	2,257
Income before provision for income taxes	13,073	4,365	20,965	12,961
Income tax benefit (expense)	10,942	13,242	22,388	25,867
Net income	24,015	17,607	43,353	38,828
Net income attributed to non-controlling interest	0	0	0	0
Net income attributed to Vector Group Ltd.	24,015	17,607	43,353	38,828
Comprehensive income attributed to non-controlling interest	0	0	0	0
Comprehensive income attributed to Vector Group Ltd.	23,746	17,834	43,127	44,037
Subsidiary Guarantors [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	255,648	255,291	476,790	483,914
Expenses:
Cost of sales	168,614	175,334	305,358	332,994
Operating, selling, administrative and general expenses	18,943	22,555	37,216	43,892
Litigation settlement and judgment expense		1,250	2,350	2,093
Management fee expense	2,663	2,563	5,325	5,125
Restructuring charges			41
Operating income	65,428	53,589	126,500	99,810
Other income (expenses):
Interest expense	(843)	(879)	(1,802)	(1,870)
Change in fair value of derivatives embedded within convertible debt	0	0	0	0
Equity in earnings from real estate ventures	0	0	0	0
Equity in earnings (losses) from investments	(8)	(16)	(24)	(8)
Gain (loss) on sale of investment securities available for sale	0	0	391	13,175
Impairment of investment securities available for sale	0		(4,772)
Equity income in consolidated subsidiaries	0	0	0	0
Management fee income	0	0	0	0
Other, net	244	200	481	520
Income before provision for income taxes	64,821	52,894	120,774	111,627
Income tax benefit (expense)	(24,907)	(21,219)	(48,293)	(45,403)
Net income	39,914	31,675	72,481	66,224
Net income attributed to non-controlling interest	0	0	0	0
Net income attributed to Vector Group Ltd.	39,914	31,675	72,481	66,224
Comprehensive income attributed to non-controlling interest	0	0	0	0
Comprehensive income attributed to Vector Group Ltd.	39,793	31,131	72,503	63,398
Subsidiary Non-Guarantors [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	182,765	161,022	342,512	293,278
Expenses:
Cost of sales	115,017	103,870	214,695	188,228
Operating, selling, administrative and general expenses	56,100	50,327	108,548	96,096
Litigation settlement and judgment expense		0	0	0
Management fee expense	0	0	0	0
Restructuring charges			0
Operating income	11,648	6,825	19,269	8,954
Other income (expenses):
Interest expense	(4)	(2)	(7)	(3)
Change in fair value of derivatives embedded within convertible debt	0	0	0	0
Equity in earnings from real estate ventures	2,813	1,856	2,306	2,194
Equity in earnings (losses) from investments	0	0	0	0
Gain (loss) on sale of investment securities available for sale	0	0	0	0
Impairment of investment securities available for sale	0		0
Equity income in consolidated subsidiaries	0	0	0	0
Management fee income	0	0	0	0
Other, net	430	429	840	981
Income before provision for income taxes	14,887	9,108	22,408	12,126
Income tax benefit (expense)	(5,038)	(3,201)	(7,461)	(4,509)
Net income	9,849	5,907	14,947	7,617
Net income attributed to non-controlling interest	(3,322)	(1,837)	(5,377)	(2,097)
Net income attributed to Vector Group Ltd.	6,527	4,070	9,570	5,520
Comprehensive income attributed to non-controlling interest	(3,322)	(1,837)	(5,377)	(2,097)
Comprehensive income attributed to Vector Group Ltd.	$ 6,527	$ 4,070	$ 9,570	$ 5,520

Condensed Consolidating Finan81

Condensed Consolidating Financial Information (Statements of Cash Flows) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 78,825	$ 83,885
Cash flows from investing activities:
Sale of investment securities	67,033	118,261
Maturities of investment securities	343	1,737
Purchase of investment securities	(56,691)	(113,595)
Purchase of long-term investments	(50)	(5,000)
Proceeds from sale or liquidation of long-term investments	1,000	1,254
Investments in real estate ventures	(11,806)	(34,857)
Distributions from investments in real estate ventures	17,983	0
Increase in cash surrender value of life insurance policies	(393)	(1,118)
Decrease (increase) in restricted assets	2,674	(7,934)
Issuance of notes receivable	0	(4,410)
Investments in subsidiaries	0	0
Proceeds from sale of preferred securities	0	1,000
Proceeds from sale of fixed assets	5	3
Capital expenditures	(7,615)	(5,379)
Pay downs of investment securities	4,926	3,530
Investments in real estate, net	(81)	(12,502)
Net cash provided by (used in) investing activities	17,328	(59,010)
Cash flows from financing activities:
Proceeds from issuance of debt	243,282	22
Deferred financing costs	(6,600)	(625)
Repayments of debt	(2,917)	(3,374)
Borrowings under revolver	89,695	126,727
Repayments on revolver	(80,223)	(144,492)
Capital contributions received	0	0
Intercompany dividends paid	0	0
Dividends and distributions on common stock	(97,846)	(92,778)
Contributions from non-controlling interest	248	0
Distributions to non-controlling interest	(7,422)	0
Proceeds from exercise of Vector options	0	1,219
Tax benefit of options exercised	0	384
Net cash provided by (used in) financing activities	138,217	(112,917)
Net increase (decrease) in cash and cash equivalents	234,370	(88,042)
Cash and cash equivalents, beginning of period	240,368	326,365
Cash and cash equivalents, end of period	474,738	238,323
Consolidating Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	(99,040)	(71,010)
Cash flows from investing activities:
Sale of investment securities	0	0
Maturities of investment securities	0	0
Purchase of investment securities	0	0
Purchase of long-term investments	0	0
Proceeds from sale or liquidation of long-term investments	0	0
Investments in real estate ventures	0	0
Distributions from investments in real estate ventures	0
Increase in cash surrender value of life insurance policies	0	0
Decrease (increase) in restricted assets	0	0
Issuance of notes receivable		0
Investments in subsidiaries	987	42,808
Proceeds from sale of fixed assets	0	0
Capital expenditures	0	0
Pay downs of investment securities	0	0
Investments in real estate, net	0	0
Net cash provided by (used in) investing activities	987	42,808
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Deferred financing costs	0	0
Repayments of debt	0	0
Borrowings under revolver	0	0
Repayments on revolver	0	0
Capital contributions received	(987)	(42,808)
Intercompany dividends paid	99,040	71,010
Dividends and distributions on common stock	0	0
Contributions from non-controlling interest	0
Distributions to non-controlling interest	0
Proceeds from exercise of Vector options		0
Tax benefit of options exercised		0
Net cash provided by (used in) financing activities	98,053	28,202
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Parent/Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	73,915	42,679
Cash flows from investing activities:
Sale of investment securities	62,312	103,846
Maturities of investment securities	343	1,737
Purchase of investment securities	(56,691)	(112,119)
Purchase of long-term investments	0	(5,000)
Proceeds from sale or liquidation of long-term investments	1,000	1,106
Investments in real estate ventures	0	0
Distributions from investments in real estate ventures	0
Increase in cash surrender value of life insurance policies	0	(717)
Decrease (increase) in restricted assets	(7)	(1,327)
Issuance of notes receivable		0
Investments in subsidiaries	(987)	(42,808)
Proceeds from sale of preferred securities		0
Proceeds from sale of fixed assets	0	0
Capital expenditures	(26)	0
Pay downs of investment securities	4,926	3,530
Investments in real estate, net	0	0
Net cash provided by (used in) investing activities	10,870	(51,752)
Cash flows from financing activities:
Proceeds from issuance of debt	243,225	0
Deferred financing costs	(6,600)	0
Repayments of debt	0	0
Borrowings under revolver	0	0
Repayments on revolver	0	0
Capital contributions received	0	0
Intercompany dividends paid	0	0
Dividends and distributions on common stock	(97,846)	(92,778)
Contributions from non-controlling interest	0
Distributions to non-controlling interest	0
Proceeds from exercise of Vector options		1,219
Tax benefit of options exercised		384
Net cash provided by (used in) financing activities	138,779	(91,175)
Net increase (decrease) in cash and cash equivalents	223,564	(100,248)
Cash and cash equivalents, beginning of period	111,470	211,751
Cash and cash equivalents, end of period	335,034	111,503
Subsidiary Guarantors [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	75,513	99,159
Cash flows from investing activities:
Sale of investment securities	4,721	14,415
Maturities of investment securities	0	0
Purchase of investment securities	0	(1,476)
Purchase of long-term investments	0	0
Proceeds from sale or liquidation of long-term investments	0	0
Investments in real estate ventures	0	0
Distributions from investments in real estate ventures	0
Increase in cash surrender value of life insurance policies	(393)	(401)
Decrease (increase) in restricted assets	2,181	(6,607)
Issuance of notes receivable		0
Investments in subsidiaries	0	0
Proceeds from sale of preferred securities		0
Proceeds from sale of fixed assets	4	3
Capital expenditures	(3,716)	(2,350)
Pay downs of investment securities	0	0
Investments in real estate, net	0	0
Net cash provided by (used in) investing activities	2,797	3,584
Cash flows from financing activities:
Proceeds from issuance of debt	0	22
Deferred financing costs	0	(625)
Repayments of debt	(2,863)	(3,254)
Borrowings under revolver	89,695	126,727
Repayments on revolver	(80,223)	(144,492)
Capital contributions received	600	2,250
Intercompany dividends paid	(65,648)	(69,075)
Dividends and distributions on common stock	0	0
Contributions from non-controlling interest	0
Distributions to non-controlling interest	0
Proceeds from exercise of Vector options		0
Tax benefit of options exercised		0
Net cash provided by (used in) financing activities	(58,439)	(88,447)
Net increase (decrease) in cash and cash equivalents	19,871	14,296
Cash and cash equivalents, beginning of period	12,375	9,724
Cash and cash equivalents, end of period	32,246	24,020
Subsidiary Non-Guarantors [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	28,437	13,057
Cash flows from investing activities:
Sale of investment securities	0	0
Maturities of investment securities	0	0
Purchase of investment securities	0	0
Purchase of long-term investments	(50)	0
Proceeds from sale or liquidation of long-term investments	0	148
Investments in real estate ventures	(11,806)	(34,857)
Distributions from investments in real estate ventures	17,983
Increase in cash surrender value of life insurance policies	0	0
Decrease (increase) in restricted assets	500	0
Issuance of notes receivable		(4,410)
Investments in subsidiaries	0	0
Proceeds from sale of preferred securities		1,000
Proceeds from sale of fixed assets	1	0
Capital expenditures	(3,873)	(3,029)
Pay downs of investment securities	0	0
Investments in real estate, net	(81)	(12,502)
Net cash provided by (used in) investing activities	2,674	(53,650)
Cash flows from financing activities:
Proceeds from issuance of debt	57	0
Deferred financing costs	0	0
Repayments of debt	(54)	(120)
Borrowings under revolver	0	0
Repayments on revolver	0	0
Capital contributions received	387	40,558
Intercompany dividends paid	(33,392)	(1,935)
Dividends and distributions on common stock	0	0
Contributions from non-controlling interest	248
Distributions to non-controlling interest	(7,422)
Proceeds from exercise of Vector options		0
Tax benefit of options exercised		0
Net cash provided by (used in) financing activities	(40,176)	38,503
Net increase (decrease) in cash and cash equivalents	(9,065)	(2,090)
Cash and cash equivalents, beginning of period	116,523	104,890
Cash and cash equivalents, end of period	$ 107,458	$ 102,800