0000059440-24-000006 | 10-K | XBRL Viewer

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Investments and Fair Value Measurements (Fair Value Measurements) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Debt securities available for sale	$ 73,225	$ 81,643
Total investment securities at fair value	110,935	116,436
Long-term investment securities at fair value	29,402	28,919
Marketable equity securities
Assets:
Equity securities at fair value:	14,286	12,724
Mutual funds invested in debt securities
Assets:
Equity securities at fair value:	23,424	22,069
U.S. Government securities
Assets:
Debt securities available for sale	38,657
Corporate securities
Assets:
Debt securities available for sale	12,042
U.S. mortgage-backed securities
Assets:
Debt securities available for sale	17,358
Commercial paper
Assets:
Debt securities available for sale	5,168
Recurring
Assets:
Total	407,139	379,292
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3
Assets:
Total investment securities at fair value	110,935	116,436
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Total equity securities at fair value
Assets:
Equity securities at fair value:	37,710	34,793
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Marketable equity securities
Assets:
Equity securities at fair value:	14,286	12,724
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Mutual funds invested in debt securities
Assets:
Equity securities at fair value:	23,424	22,069
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Total debt securities available for sale
Assets:
Debt securities available for sale	73,225	81,643
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| U.S. Government securities
Assets:
Debt securities available for sale	38,657	779
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Corporate securities
Assets:
Debt securities available for sale	12,042	53,814
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| U.S. mortgage-backed securities
Assets:
Debt securities available for sale	17,358	27,050
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Commercial paper
Assets:
Debt securities available for sale	5,168
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Index-linked U.S. bonds
Assets:
Debt securities available for sale	0
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Money market funds
Assets:
Cash and cash equivalents	214,515	155,411
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Commercial paper
Assets:
Cash and cash equivalents	52,287	54,526
Recurring \| Fair Value, Inputs, Level 1, Level 2, and Level 3 \| Money market funds securing legal bonds
Assets:
Cash and cash equivalents		24,000
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total investment securities at fair value	37,710	34,793
Total	252,225	214,204
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Total equity securities at fair value
Assets:
Equity securities at fair value:	37,710	34,793
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Marketable equity securities
Assets:
Equity securities at fair value:	14,286	12,724
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Mutual funds invested in debt securities
Assets:
Equity securities at fair value:	23,424	22,069
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Total debt securities available for sale
Assets:
Debt securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. Government securities
Assets:
Debt securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate securities
Assets:
Debt securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. mortgage-backed securities
Assets:
Debt securities available for sale	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Commercial paper
Assets:
Debt securities available for sale	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Index-linked U.S. bonds
Assets:
Debt securities available for sale	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money market funds
Assets:
Cash and cash equivalents	214,515	155,411
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Commercial paper
Assets:
Cash and cash equivalents	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money market funds securing legal bonds
Assets:
Cash and cash equivalents		24,000
Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Total investment securities at fair value	73,225	81,643
Total	125,512	136,169
Recurring \| Significant Other Observable Inputs (Level 2) \| Total equity securities at fair value
Assets:
Equity securities at fair value:	0	0
Recurring \| Significant Other Observable Inputs (Level 2) \| Marketable equity securities
Assets:
Equity securities at fair value:	0	0
Recurring \| Significant Other Observable Inputs (Level 2) \| Mutual funds invested in debt securities
Assets:
Equity securities at fair value:	0	0
Recurring \| Significant Other Observable Inputs (Level 2) \| Total debt securities available for sale
Assets:
Debt securities available for sale	73,225	81,643
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. Government securities
Assets:
Debt securities available for sale	38,657	779
Recurring \| Significant Other Observable Inputs (Level 2) \| Corporate securities
Assets:
Debt securities available for sale	12,042	53,814
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. mortgage-backed securities
Assets:
Debt securities available for sale	17,358	27,050
Recurring \| Significant Other Observable Inputs (Level 2) \| Commercial paper
Assets:
Debt securities available for sale	5,168
Recurring \| Significant Other Observable Inputs (Level 2) \| Index-linked U.S. bonds
Assets:
Debt securities available for sale	0
Recurring \| Significant Other Observable Inputs (Level 2) \| Money market funds
Assets:
Cash and cash equivalents	0	0
Recurring \| Significant Other Observable Inputs (Level 2) \| Commercial paper
Assets:
Cash and cash equivalents	52,287	54,526
Recurring \| Significant Other Observable Inputs (Level 2) \| Money market funds securing legal bonds
Assets:
Cash and cash equivalents		0
Recurring \| Significant Unobservable Inputs (Level 3)
Assets:
Total investment securities at fair value	0	0
Total	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Total equity securities at fair value
Assets:
Equity securities at fair value:	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Marketable equity securities
Assets:
Equity securities at fair value:	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Mutual funds invested in debt securities
Assets:
Equity securities at fair value:	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Total debt securities available for sale
Assets:
Debt securities available for sale	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. Government securities
Assets:
Debt securities available for sale	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Corporate securities
Assets:
Debt securities available for sale	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. mortgage-backed securities
Assets:
Debt securities available for sale	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Commercial paper
Assets:
Debt securities available for sale	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Index-linked U.S. bonds
Assets:
Debt securities available for sale	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Money market funds
Assets:
Cash and cash equivalents	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Commercial paper
Assets:
Cash and cash equivalents	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Money market funds securing legal bonds
Assets:
Cash and cash equivalents		0
Recurring \| NAV
Assets:
Long-term investment securities at fair value	$ 29,402	$ 28,919

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid during the period for:
Interest, including interest related to finance leases	$ 109,449	$ 112,759	$ 111,759
Income taxes, net	$ 50,189	$ 42,426	$ 92,698

Earnings Per Share (Antidilutive Securities Excluded from Earnings Per Share) (Details) - Restricted Stock - Share-Based Payment Arrangement - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average shares (in shares)	0	1,973	524,606
Weighted-average expense per share (in dollars per share)	$ 0	$ 11.23	$ 17.42

Investments and Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

INVESTMENTS AND FAIR VALUE MEASUREMENTS

The Company’s financial assets and liabilities subject to fair value measurements were as follows:


	Fair Value Measurements as of December 31, 2023
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (1)	$	214,515	$	214,515	$	—	$	—

Commercial paper (1)	52,287		—		52,287		—





Investment securities at fair value
Equity securities at fair value
Marketable equity securities	14,286		14,286		—		—
Mutual funds invested in debt securities	23,424		23,424		—		—
Total equity securities at fair value	37,710		37,710		—		—
Debt securities available for sale
U.S. government securities	38,657		—		38,657		—
Corporate securities	12,042		—		12,042		—
U.S. government and federal agency	17,358		—		17,358		—


Commercial paper	5,168		—		5,168		—
Index-linked U.S. bonds	—		—		—		—

Total debt securities available for sale	73,225		—		73,225		—

Total investment securities at fair value	110,935		37,710		73,225		—

Long-term investments
Long-term investment securities at fair value (2)	29,402		—		—		—

Total	$	407,139	$	252,225	$	125,512	$	—

_____________________________

(1)Amounts included in Cash and cash equivalents on the consolidated balance sheets.

(2)In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.


	Fair Value Measurements as of December 31, 2022
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (1)	$	155,411	$	155,411	$	—	$	—

Commercial paper (1)	54,526		—		54,526		—



Money market funds securing legal bonds (2)	24,000		24,000		—		—

Investment securities at fair value
Equity securities at fair value
Marketable equity securities	12,724		12,724		—		—
Mutual funds invested in debt securities	22,069		22,069		—		—
Total equity securities at fair value	34,793		34,793		—		—
Debt securities available for sale
U.S. government securities	779		—		779		—
Corporate securities	53,814		—		53,814		—
U.S. government and federal agency	27,050		—		27,050		—





Total debt securities available for sale	81,643		—		81,643		—

Total investment securities at fair value	116,436		34,793		81,643		—

Long-term investments
Long-term investment securities at fair value (3)	28,919		—		—		—
Total	$	379,292	$	214,204	$	136,169	$	—

_____________________________

(1)Amounts included in Cash and cash equivalents on the consolidated balance sheets.

(2)Amounts included in Other assets on the consolidated balance sheets.

(3)In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

The fair value of investment securities at fair value included in Level 1 is based on quoted market prices from various stock exchanges. The Level 2 investment securities at fair value are based on quoted market prices of securities that are thinly traded, quoted prices for identical or similar assets in markets that are not active or inputs other than quoted prices such as interest rates and yield curves.

The long-term investments are based on NAV per share provided by the partnerships based on the indicated market value of the underlying assets or investment portfolio. In accordance with Subtopic 820-10, these investments are not classified under the fair value hierarchy disclosed above because they are measured at fair value using the NAV practical expedient.

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company is required to record assets and liabilities at fair value on a nonrecurring basis. Generally, assets and liabilities are recorded at fair value on a nonrecurring basis as a result of impairment charges. The Company had no nonrecurring nonfinancial assets subject to fair value measurements as of December 31, 2023 and 2022, respectively, except for investments in real estate ventures that were impaired as of December 31, 2022.

The Company’s investment in real estate ventures subject to nonrecurring fair value measurements are as follows:


			Fair Value Measurement Using:
	Year Ended December 31, 2023				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description	Impairment Charge		Total

Assets:
Investments in real estate ventures	$	1,202	$	—	$	—	$	—	$	—

The Company estimated the fair value of its investments in real estate ventures using observable inputs such as market pricing based on recent events, however, significant judgment was required to select certain inputs from observed market data. The decline in the investments in real estate ventures was attributed to the decline in the projected sales prices and the duration of the estimated sell out of the respective real estate ventures. The $1,202 of impairment charges were included in equity in earnings from real estate ventures for the year ended December 31, 2023.


			Fair Value Measurement Using:
	Year Ended December 31, 2022				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description	Impairment Charge		Total

Assets:
Investments in real estate ventures	$	490	$	—	$	—	$	—	$	—

The Company estimated the fair value of its investments in real estate ventures using observable inputs such as market pricing based on recent events, however, significant judgment was required to select certain inputs from observed market data. The decline in the investments in real estate ventures was attributed to the decline in the projected sales prices and the duration of the estimated sell out of the respective real estate ventures. The $490 of impairment charges were included in equity in losses from real estate ventures for the year ended December 31, 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Presentation:

The Consolidated Financial Statements included in this annual report present the financial position of Vector Group Ltd. (the “Company” or “Vector”) as of December 31, 2023 and 2022 and the results of operations of the Company for the years ended December 31, 2023, 2022 and 2021 giving effect to the Distribution of Douglas Elliman Inc. (“Douglas Elliman”) with the historical financial results of Douglas Elliman reflected as discontinued operations (See Note 6.). The cash flows and comprehensive income related to Douglas Elliman have not been segregated and are included in the Consolidated Statements of Cash Flows and Consolidated Statements of Comprehensive Income, respectively, for all periods presented. Unless otherwise indicated, the information in the Notes to the Consolidated Financial Statements refers only to the Company’s continuing operations and does not include discussion of balances or activity of Douglas Elliman.

The consolidated financial statements of the Company include the accounts of Liggett Group LLC (“Liggett”), Vector Tobacco LLC (“Vector Tobacco”), Liggett Vector Brands LLC (“Liggett Vector Brands”), New Valley LLC (“New Valley”) and other less significant subsidiaries. New Valley includes the accounts of other less significant subsidiaries. All significant intercompany balances and transactions have been eliminated.

Liggett and Vector Tobacco are engaged in the manufacture and sale of cigarettes in the U.S. Liggett Vector Brands coordinates Liggett and Vector Tobacco’s sales and marketing efforts. Certain references to “Liggett” refer to the Company’s tobacco operations, including the business of Liggett and Vector Tobacco, unless otherwise specified. New Valley is engaged in the real estate business.

(b) Estimates and Assumptions:

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant estimates subject to material changes in the near term include impairment charges, valuation of intangible assets, promotional accruals, actuarial assumptions of pension plans, deferred tax liabilities, settlement accruals, valuation of investments, including other-than-temporary impairments to such investments, and litigation and defense costs. Actual results could differ from those estimates.

Cash includes cash on hand, cash on deposit in banks, and money market accounts. Cash equivalents include short-term investments which have an original maturity of 90 days or less. Interest income from short-term investments is recognized when earned. The Company deposits its cash and cash equivalents at large financial institutions, including commercial banks and broker-dealers. The Federal Deposit Insurance Corporation and Securities Investor Protection Corporation insure these balances, up to $250 and $500, respectively. Substantially all cash balances as of December 31, 2023 are uninsured.

(d) Reconciliation of Cash, Cash Equivalents and Restricted Cash:

Restricted cash amounts included in other current assets and other assets represent cash and cash equivalents required to be deposited into escrow for bonds required to appeal adverse product liability judgments, amounts required for letters of credit related to office leases, and certain deposit requirements for banking arrangements. The restrictions related to the appellate bonds will remain in place until the appeal process has been completed. The restrictions related to the letters of credit will remain in place for the duration of the respective lease. The restrictions related to the banking arrangements will remain in place for the duration of the arrangement.

The components of “Cash, cash equivalents and restricted cash” in the Consolidated Statements of Cash Flows were as follows:


	December 31, 2023		December 31, 2022		December 31, 2021
Cash and cash equivalents	$	268,600	$	224,580	$	193,411

Restricted cash and cash equivalents included in other assets	1,506		25,794		1,438

Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	270,106	$	250,374	$	194,849

(e) Investment Securities:

The Company classifies investments in debt securities as available for sale. Investments classified as available for sale are recorded at fair value, with net unrealized gains and losses included as a separate component of stockholders’ deficiency. The cost of securities sold is determined based on average cost.

Gains are recognized when realized in the Company’s consolidated statements of operations. Losses are recognized as realized or upon the determination of the occurrence of an other-than-temporary decline in fair value. The Company’s policy is to review its securities on a periodic basis to evaluate whether any security has experienced an other-than-temporary decline in fair value. If it is determined that an other-than-temporary decline exists in one of the Company’s debt securities, it is the Company’s policy to record an impairment charge with respect to such investment in the Company’s consolidated statements of operations.

The Company classifies investments in marketable equity securities as equity securities at fair value. The Company’s marketable equity securities are measured at fair value with changes in fair value recognized in net income. Gains and losses are recognized when realized in the Company’s consolidated statements of operations. Investments in marketable equity securities represent less than a 20 percent interest in the investees and the Company does not exercise significant influence over such entities.

(f) Significant Concentrations of Credit Risk:

Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade receivables. The Company places its temporary cash in money market securities (investment grade or better) with, what management believes, high credit quality financial institutions.

Liggett’s customers are primarily wholesalers and distributors of tobacco and convenience products as well as large grocery, drug and convenience store chains. Two customers accounted for 13% and 10% of Liggett’s revenues in 2023, 15% and 11% in 2022 and 14% and 12% in 2021. Concentrations of credit risk with respect to trade receivables are generally limited due to Liggett’s large number of customers. Liggett’s two largest customers represented approximately 4% and 8%, respectively, of Liggett’s net accounts receivable as of December 31, 2023, and approximately 4% and 37%, respectively, as of December 31, 2022. Ongoing credit evaluations of customers’ financial condition are performed and, generally, no collateral is required. Liggett maintains reserves for potential credit losses and such losses, in the aggregate, have not exceeded management’s expectations.

(g) Accounts Receivable - trade, net:

Accounts receivable-trade are recorded net of an allowance for credit losses and cash discounts. The Company estimates the allowance for credit losses based on historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic conditions, supportable forecasts of future economic condition, and other factors that may affect our ability to collect from customers. The allowance for credit losses and cash discounts was $548 and $838 as of December 31, 2023 and 2022, respectively. Uncollectible accounts are written off when the likelihood of collection is remote and when collection efforts have been abandoned.

(h) Inventories:

Tobacco inventories are stated at the lower of cost and net realizable value with cost determined primarily by the last-in, first-out (LIFO) method at Liggett and Vector Tobacco. Although portions of leaf tobacco inventories may not be used or sold within one year because of the time required for aging, they are included in current assets, which is common practice in the industry.

(i) Property, Plant and Equipment:

Property, plant and equipment are stated at cost. Property, plant and equipment are depreciated using the straight-line method over the estimated useful lives of the respective assets, which are 20 to 30 years for buildings and 3 to 10 years for machinery and equipment.

Repairs and maintenance costs are charged to expense as incurred. The costs of major renewals and betterments are capitalized. The cost and related accumulated depreciation of property, plant and equipment are removed from the accounts upon retirement or other disposition and any resulting gain or loss is reflected in operations.

The cost of leasehold improvements is amortized over the lesser of the related leases or the estimated useful lives of the improvements. Costs of major additions and betterments are capitalized, while expenditures for routine maintenance and repairs are charged to expense as incurred.

(j) Investments in Real Estate Ventures:

In accounting for its investments in real estate ventures, the Company identified its participation in Variable Interest Entities (“VIE”), which are defined as (a) entities in which the equity investment at risk is not sufficient to finance its activities without additional subordinated financial support; (b) as a group, the equity investors at risk lack 1) the power to direct the activities of a legal entity that most significantly impact the entity’s economic performance, 2) the obligation to absorb the expected losses of the entity, or 3) the right to receive the expected residual returns of the entity; or (c) as a group, the equity investors have voting rights that are not proportionate to their economic interests and the entity’s activities involve or are conducted on behalf of an investor with a disproportionately small voting interest.

The Company’s interest in VIEs is primarily in the form of equity ownership. The Company examines specific criteria and uses judgment when determining if the Company is the primary beneficiary of a VIE. Factors considered include risk and reward sharing, experience and financial condition of other partner(s), voting rights, involvement in day-to-day capital and operating decisions, representation on a VIE’s executive committee, existence of unilateral kick-out rights exclusive of protective rights or voting rights and level of economic disproportionality between the Company and its other partner(s).

Accounting guidance requires the consolidation of VIEs in which the Company is the primary beneficiary. The guidance requires consolidation of VIEs that an enterprise 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 impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from 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 VIE, any unfunded capital commitments to the VIE, and, in some cases, guarantees in connection with debt on the specific project. The Company’s maximum exposure to loss in its investment in 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.

On a quarterly basis, the Company evaluates its investments in real estate ventures to determine if there are indicators of impairment. If so, the Company further investigates to determine if an impairment has occurred and whether such impairment is considered temporary or other than temporary. The Company believes that the assessment of temporary or other-than-temporary impairment includes judgment and all relevant facts and circumstances.

(k) Intangible Assets:

Intangible assets with indefinite lives are not amortized, but instead are tested for impairment at least annually as of December 31 and monitored for interim triggering events on an on-going basis. Our intangible asset associated with the benefit under the Master Settlement Agreement (“MSA”) relates to the market share payment exemption of The Medallion Company Inc. (now known as Vector Tobacco LLC), acquired in April 2002, under the MSA, which states payments under the MSA continue in perpetuity. As a result, the Company believes it will realize the benefit of the exemption for the foreseeable future.

The fair value of the intangible asset associated with the benefit under the MSA is calculated using discounted cash flows. This approach involves two steps: (i) estimating future cash savings due to the payment exemption under the MSA and (ii) discounting the resulting cash flow savings to determine fair value. This fair value is then compared with the carrying value of the intangible asset associated with the benefit under the MSA. To the extent that the carrying amount exceeds the implied fair value of the intangible asset, an impairment loss is recognized.

Indefinite life intangible assets as of December 31, 2023 and 2022, were $107,511. The Company performed its impairment test for the years ended December 31, 2023, 2022 and 2021 and no impairment was noted.

(l) Impairment of Long-Lived Assets:

The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company performs a test for recoverability, comparing projected undiscounted cash flows to the carrying value of the asset group to determine if impairment exists. If impairment is determined to exist, any related impairment loss is calculated based on fair value of the asset based on discounted cash flow. Impairment losses on assets to be disposed of, if any, are based on the estimated proceeds to be received, less costs of disposal.

Additionally, the Company performs impairment reviews on its long-term investments that are classified as equity securities without readily determinable fair values that do not qualify for the net asset value (“NAV”) practical expedient. On a quarterly basis, the Company evaluates the investments to determine if there are indicators of impairment. If so, a determination is made of whether there is an impairment and if it is considered temporary or other than temporary. The assessment of temporary or other-than-temporary impairment includes judgment and all relevant facts and circumstances. The impairment indicators that are taken into consideration as part of the analysis include (a) a significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee, (b) a significant adverse change in the regulatory, economic, or technological environment of the investee, (c) a significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates, and (d) factors that raise significant concerns about the investee’s ability to continue as a going concern, such as negative cash flows from operations, working capital deficiencies, or noncompliance with statutory capital requirements or debt covenants.

(m) Leases:

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and lease liabilities on the Company’s consolidated balance sheets. Finance leases are included in investments in real estate, net, property, plant and equipment and current and long-term portions of notes payable and long-term debt on the Company’s consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the duration of the lease term. Lease liabilities represent the Company’s obligation to make lease payments as determined by the lease agreement. Lease liabilities are recorded at commencement for the net present value of future lease payments over the lease term. The discount rate used is generally the Company’s estimated incremental borrowing rate unless the lessor’s implicit rate is readily determinable. Discount rates are calculated periodically to estimate the rate the Company would pay to borrow the funds necessary to obtain an asset of similar value, over a similar term, with a similar security. ROU assets are recorded and recognized at commencement for the lease liability amount, initial direct costs incurred and are reduced for lease incentives received. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Finance lease cost is recognized on a straight-line basis over the shorter of the useful life of the asset and the lease term.

The Company has lease agreements with lease and non-lease components; the Company has elected the accounting policy to combine lease and non-lease components for all underlying asset classes.

(n) Pension, Postretirement and Postemployment Benefits Plans:

The cost of providing retiree pension benefits, health care and life insurance benefits is actuarially determined and accrued over the service period of the active employee group. The Company recognizes the funded status of each defined benefit pension plan, retiree health care and other postretirement benefit plans and postemployment benefit plans on the Company’s consolidated balance sheets. (See Note 12).

(o) Stock Options and Awards:

The Company accounts for employee stock compensation plans by measuring compensation cost for share-based payments at fair value at the grant date. The fair value is recognized as compensation expense over the vesting period on a straight-line basis. The terms of certain stock options and restricted stock awarded under the 2023 Management Incentive Plan (the “2023 Plan”), the 2014 Management Incentive Plan (the “2014 Plan”) and the Amended and Restated 1999 Long-Term Incentive Plan (the “1999 Plan”) provide for common stock dividend equivalents (paid in cash at the same rate as paid on the common stock) with respect to the shares underlying the unvested portion of the options and restricted stock. The Company recognizes payments of the dividend equivalent rights on these options and restricted stock on the Company’s consolidated

balance sheets as reductions in additional paid-in capital until fully utilized and then accumulated deficit ($3,463, $4,239 and $3,832, net of income taxes, for the years ended December 31, 2023, 2022 and 2021, respectively), which are included as “Distributions and dividends on common stock” in the Company’s consolidated statement of stockholders’ deficiency.

(p) Income Taxes:

The Company accounts for income taxes under the liability method and records deferred taxes for the impact of temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes and the amounts recognized for tax purposes as well as tax credit carryforwards and loss carryforwards. These deferred taxes are measured by applying the enacted tax rates relative to when the deferred item is expected to reverse. A valuation allowance reduces deferred tax assets when it is deemed more likely than not that some portion or all deferred tax assets will not be realized. A current tax provision is recorded for income taxes currently payable.

The Company accounts for uncertainty in income taxes by recognizing the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. If the tax position meets the more-likely-than-not recognition threshold, the tax effect is recognized at the largest amount of the benefit that is greater than 50% likely of being realized upon ultimate settlement. The guidance requires that a liability created for unrecognized deferred tax benefits shall be presented as a liability and not combined with deferred tax liabilities or assets. The Company classifies all tax-related interest and penalties as income tax expense.

(q) Distributions and Dividends on Common Stock:

The Company records distributions on its common stock as dividends in its consolidated statement of stockholders’ deficiency to the extent of retained earnings. Any amounts exceeding retained earnings are recorded as a reduction to additional paid-in-capital to the extent paid-in-capital is available and then to accumulated deficit. The Company’s stock dividends are recorded as stock splits and given retroactive effect to earnings per share for all years presented.

(r) Revenue Recognition:

Tobacco: Revenue from cigarette sales, which include federal excise taxes billed to customers, are recognized upon shipment of cigarettes when control has passed to the customer. Average collection terms for Tobacco sales range between three and twelve days from the time that the cigarettes are shipped to the customer. The Company records an allowance for goods estimated to be returned in other current liabilities and the associated receivable for anticipated federal excise tax refunds in other current assets on the consolidated balance sheets. The allowance for returned goods is based principally on sales volumes and historical return rates. The estimated costs of sales incentives, including customer incentives and trade promotion activities, are based principally on historical experience and are accounted for as reductions in Tobacco revenue. Expected payments for sales incentives are included in other current liabilities on the Company’s consolidated balance sheets. The Company accounts for shipping and handling costs as fulfillment costs as part of its cost of sales.

Tobacco Shipping and Handling Fees and Costs: Shipping and handling fees related to sales transactions are neither billed to customers nor recorded as revenue. Shipping and handling costs were $8,453 in 2023, $8,747 in 2022 and $7,006 in 2021.

Real estate: Revenue from facilities primarily related to Escena and consisted of revenues from food and beverage sales, fees charged for gameplay and the sale of golf related equipment and apparel. Revenue is recognized at the time of sale. See Note 10 for details of the Escena investment. In April 2022, New Valley sold Escena and received approximately $15,300 in net cash proceeds. The Company recognized the revenue in accordance with the scope of ASC Topic 606 since New Valley has no continuing investment or involvement. The sale was presented as revenue and the cost of the investment as cost of sales on the consolidated statements of operations.

Revenue from investments in real estate is recognized from land and building sales at the time of the closing of a sale, which is typically when cash is due, the performance obligation is satisfied as the title to and possession of the real estate asset are transferred to the buyer and the Company has no further obligations or involvement in the real estate asset.

(s) Advertising:

Tobacco advertising costs, which are expensed as incurred and included within operating, selling, administration and general expenses, were $5,227, $4,748 and $4,464 for the years ended December 31, 2023, 2022 and 2021, respectively.

(t) Comprehensive Income:

The Company presents net income and other comprehensive income in two separate, and consecutive, statements. The items are presented before related tax effects with detailed amounts shown for the income tax expense or benefit related to each component of other comprehensive income.

The components of accumulated other comprehensive loss, net of income taxes, were as follows:


	December 31, 2023		December 31, 2022		December 31, 2021
Net unrealized gains on investment securities available for sale, net of income taxes of $78, $7, and $21, respectively	$	212	$	7	$	46


Pension-related amounts, net of income taxes of $4,771, $5,799, and $5,692, respectively	(13,125)		(16,080)		(15,769)
Accumulated other comprehensive loss	$	(12,913)	$	(16,073)	$	(15,723)

(u) Contingencies:

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. As discussed in Note 15, legal proceedings covering a wide range of matters are pending or threatened in various jurisdictions against Liggett and the Company. At the present time, while it is reasonably possible that an unfavorable outcome in a case may occur, except as disclosed in Note 15: (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 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.

The Company records Liggett’s product liability legal expenses as operating, selling, administrative and general expenses as those costs are incurred.

(v) Other, Net:

Other, net consisted of:


	Year Ended December 31,
	2023		2022		2021
Interest and dividend income	$	23,491	$	8,627	$	1,920




Change in derivative associated with guarantee	—		2,646		—

Expense related to Tax Disaffiliation indemnification	—		(589)		—
Net gains (losses) recognized on investment securities	2,594		(7,980)		9,384
Net periodic benefit cost other than the service costs	(1,353)		(944)		(975)





Other income	1,387		986		358
Other, net	$	26,119	$	2,746	$	10,687

(w) Other Assets:

Other assets consisted of:


	December 31, 2023		December 31, 2022
Restricted assets	$	1,619	$	25,907
Prepaid pension costs	45,292		38,100

Other assets	37,418		31,310
Total other assets	$	84,329	$	95,317

(x) Other Current Liabilities:

Other current liabilities consisted of:


	December 31, 2023		December 31, 2022
Accounts payable	$	6,749	$	6,351
Accrued promotional expenses	51,146		56,645
Accrued excise and payroll taxes payable, net	13,144		17,160
Accrued interest	30,041		30,451

Accrued salaries and benefits	10,952		9,614

Allowance for sales returns	12,675		7,526
Other current liabilities	6,973		7,423
Total other current liabilities	$	131,680	$	135,170

(y) New Accounting Pronouncements:

Accounting Standards Updates (“ASUs”) adopted in 2023:

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires that an acquirer recognize and measure contract assets and contract liabilities in a business combination in accordance with Topic 606. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of this update did not have a material impact on the Company’s consolidated financial statements.

ASUs to be adopted in future periods:

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures. The ASU requires that all public entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. The ASU requires that all public entities improve the reportable segment disclosure primarily through enhanced disclosures about significant segment expenses. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

SEC Proposed Rules

On March 21, 2022, the SEC proposed rule changes that would require registrants to provide certain climate-related information in their registration statements and annual reports. The proposed rules would require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks would also include disclosure of a registrant's greenhouse gas emissions, which have become a commonly used metric to assess a registrant's exposure to such risks. In addition, under the proposed rules, certain climate-related financial metrics would be required in a registrant's audited financial statements. The Company is currently evaluating the impact of the proposed rule changes.

Contingencies (MSA and Other State Settlement Agreements) (Details)		1 Months Ended		12 Months Ended		25 Months Ended
	Dec. 28, 2022 USD ($)	Apr. 30, 2023 USD ($)	Nov. 30, 1998 state	Dec. 31, 2023 USD ($) sponsorship	Dec. 31, 2022	Mar. 31, 1998 USD ($) state	Dec. 28, 2023 USD ($)
MSA
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 \| MSA
Loss Contingencies [Line Items]
Estimated litigation liability				$ 0
Percentage of cigarettes sales exceeds market share exemption				1.65%
Vector Tobacco \| MSA
Loss Contingencies [Line Items]
Estimated litigation liability				$ 0
Percentage of cigarettes sales exceeds market share exemption				0.28%
Liggett and Vector Tobacco \| Product Concentration Risk \| Sales Revenue
Loss Contingencies [Line Items]
Concentration risk percentage					5.50%
Liggett and Vector Tobacco \| MSA
Loss Contingencies [Line Items]
Estimated litigation liability							$ 272,000,000
Payments for legal settlements	$ 263,000,000	$ 9,000,000

Current Expected Credit Losses (Narrative) (Details) $ in Thousands	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
New Valley
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan	2
Total amortized cost basis	$ 15,928
Interest receivable	6,428	$ 6,428
New Valley \| Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	$ 15,928	$ 15,928	$ 15,928

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2023	Feb. 14, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	VECTOR GROUP LTD
Entity Incorporation, State or Country Code	DE
Entity File Number	1-5759
Entity Tax Identification Number	65-0949535
Entity Address, Address Line One	4400 Biscayne Boulevard
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33137
City Area Code	305
Local Phone Number	579-8000
Title of 12(b) Security	Common stock, par value $0.10 per share
Trading Symbol	VGR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,890
Entity Common Stock, Shares Outstanding		157,683,020
Documents Incorporated by Reference	Part III (Items 10, 11, 12, 13 and 14) from the definitive Proxy Statement for the 2024 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission no later than 120 days after the end of the Registrant’s fiscal year covered by this report.
Entity Central Index Key	0000059440
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Notes Payable, Long-Term Debt and Other Obligations (Notes Payable Narrative) (Details) - USD ($)				12 Months Ended
	Jan. 28, 2021	Nov. 18, 2019	Nov. 02, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 27, 2017	Mar. 24, 2014
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 549,000	$ (412,000)	$ 21,362,000
Other costs and non-cash interest expense				$ 20,162,000	24,672,000
Douglas Elliman Realty, LLC \| Douglas Elliman Realty, LLC
Debt Instrument [Line Items]
Equity method ownership percentage				100.00%
6.125% Senior Secured Notes due 2025 \| Senior Notes
Debt Instrument [Line Items]
Interest rate							6.125%
Principal amount							$ 850,000,000
Loss on extinguishment of debt						21,362,000
Premium						13,013,000
Other costs and non-cash interest expense						8,349,000
5.75% Senior Secured Notes due 2029
Debt Instrument [Line Items]
Principal amount	$ 875,000,000
Net proceeds from issuance of debt	$ 855,500,000
5.75% Senior Secured Notes due 2029 \| Senior Notes
Debt Instrument [Line Items]
Interest rate	5.75%
10.5% Senior Notes due 2026 \| Senior Notes
Debt Instrument [Line Items]
Interest rate			10.50%
Principal amount		$ 230,000,000	$ 325,000,000
Other costs and non-cash interest expense				$ 1,719,000	2,209,000
Net proceeds from issuance of debt		$ 220,400,000	$ 315,000,000
Debt instrument, repurchase amount				23,443,000	12,865,000
Gain (loss) on repurchase of debt instrument				$ (549,000)	$ 412,000	$ 0
5.5% Variable Interest Senior Convertible Debentures due 2020 \| Variable Interest Senior Convertible Debt
Debt Instrument [Line Items]
Interest rate								5.50%

Notes Payable, Long-Term Debt and Other Obligations (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Notes Payable, Long-term Debt and Other Obligations

Notes payable, long-term debt and other obligations consisted of:


	December 31, 2023		December 31, 2022
Vector:
5.75% Senior Secured Notes due 2029	$	875,000	$	875,000

10.5% Senior Notes due 2026, net of unamortized discount of $1,719 and $2,209	516,973		539,926

Liggett:
Revolving credit facility	—		22,035

Equipment loans	8		37

Total notes payable, long-term debt and other obligations	1,391,981		1,436,998
Less:
Debt issuance costs	(20,162)		(24,672)
Total notes payable, long-term debt and other obligations	1,371,819		1,412,326
Less:
Current maturities	(8)		(22,065)
Amount due after one year	$	1,371,811	$	1,390,261

Schedule of Non-Cash Interest Expense


	Year Ended December 31,
	2023		2022		2021

Amortization of debt discount, net	$	490	$	439	$	393
Amortization of debt issuance costs	4,371		4,102		3,775
Loss (gain) on repurchase of 10.5% Senior Notes	549		(412)		—
Loss on extinguishment of 6.125% Senior Secured Notes	—		—		8,349
	$	5,410	$	4,129	$	12,517

Schedule of Fair Value of Notes Payable and Long-term Debt

The estimated fair value of the Company’s notes payable and long-term debt was as follows:


	December 31, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.75% Senior Secured Notes due 2029	$	875,000	$	800,126	$	875,000	$	758,993
10.5% Senior Notes due 2026	516,973		522,194		539,926		537,202

Liggett and other	8		8		22,072		22,072
Notes payable and long-term debt	$	1,391,981	$	1,322,328	$	1,436,998	$	1,318,267

Schedule of Scheduled Maturities

Scheduled maturities of notes payable and long-term debt were as follows:


	Principal		Unamortized Discount/ (Premium)		Net
Year Ending December 31:
2024	$	8	$	—	$	8
2025	—		—		—
2026	518,692		1,719		516,973
2027	—		—		—
2028	—		—		—
Thereafter	875,000		—		875,000
Total	$	1,393,700	$	1,719	$	1,391,981

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 1,424,268	$ 1,441,009	$ 1,220,700
Real estate
Disaggregation of Revenue [Line Items]
Revenue	0	15,884	18,203
Real estate \| Sales on facilities primarily from Escena
Disaggregation of Revenue [Line Items]
Revenue	0	3,259	5,353
Real estate \| Revenues from investments in real estate
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 12,625	$ 12,850

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Contingencies (Activity in Accruals for MSA and Tobacco Litigation Schedule) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current Liabilities
Current liabilities, beginning balance	$ 15,134	$ 15,804	$ 42,734
Expenses	291,011	278,566	173,997
NPM Settlement adjustment	0	(15)	0
Change in MSA obligations capitalized as inventory	(97)	2,634	(670)
Payments, net of credits received	(302,544)	(285,942)	(208,797)
Reclassification to/(from) non-current liabilities	5,342	3,566	8,060
Interest on withholding	317	521	480
Current liabilities, ending balance	9,163	15,134	15,804
Non-Current Liabilities
Noncurrent liabilities, beginning balance	27,233	30,904	37,201
Expenses	0	0	0
NPM Settlement adjustment	(734)	(2,108)	0
Change in MSA obligations capitalized as inventory	0	0	0
Payments, net of credits received	0	0	0
Reclassification to/(from) non-current liabilities	(5,342)	(3,566)	(8,060)
Interest on withholding	1,475	2,003	1,763
Noncurrent liabilities, ending balance	22,632	27,233	30,904
Payments due under Master Settlement Agreement
Current Liabilities
Current liabilities, beginning balance	14,838	11,886	38,767
Expenses	272,212	278,327	173,786
NPM Settlement adjustment	0	(15)	0
Change in MSA obligations capitalized as inventory	(97)	2,634	(670)
Payments, net of credits received	(279,776)	(277,994)	(204,706)
Reclassification to/(from) non-current liabilities	1,635	0	4,709
Interest on withholding	0	0	0
Current liabilities, ending balance	8,812	14,838	11,886
Non-Current Liabilities
Noncurrent liabilities, beginning balance	11,116	13,224	17,933
Expenses	0	0	0
NPM Settlement adjustment	(734)	(2,108)	0
Change in MSA obligations capitalized as inventory	0	0	0
Payments, net of credits received	0	0	0
Reclassification to/(from) non-current liabilities	(1,635)	0	(4,709)
Interest on withholding	0	0	0
Noncurrent liabilities, ending balance	8,747	11,116	13,224
Litigation Accruals
Current Liabilities
Current liabilities, beginning balance	296	3,918	3,967
Expenses	18,799	239	211
NPM Settlement adjustment	0	0	0
Change in MSA obligations capitalized as inventory	0	0	0
Payments, net of credits received	(22,768)	(7,948)	(4,091)
Reclassification to/(from) non-current liabilities	3,707	3,566	3,351
Interest on withholding	317	521	480
Current liabilities, ending balance	351	296	3,918
Non-Current Liabilities
Noncurrent liabilities, beginning balance	16,117	17,680	19,268
Expenses	0	0	0
NPM Settlement adjustment	0	0	0
Change in MSA obligations capitalized as inventory	0	0	0
Payments, net of credits received	0	0	0
Reclassification to/(from) non-current liabilities	(3,707)	(3,566)	(3,351)
Interest on withholding	1,475	2,003	1,763
Noncurrent liabilities, ending balance	$ 13,885	$ 16,117	$ 17,680

New Valley LLC (Investment in Real Estate Ventures Schedules) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 131,497	$ 121,117
Total contributions	17,433	25,569	$ 49,463
Total equity in earnings (losses) from real estate ventures	2,202	(5,946)	10,250
New Valley
Schedule of Investments [Line Items]
Investments in real estate ventures	131,497	121,117
Total contributions	17,433	25,569
Total distributions	13,434	8,375
Total equity in earnings (losses) from real estate ventures	2,202	(5,946)	10,250
Total maximum exposure to loss	131,497
New Valley \| Condominium and Mixed-Use Development
Schedule of Investments [Line Items]
Investments in real estate ventures	108,334	93,350
Total contributions	17,285	17,221
Total distributions	7,797	2,348
Total equity in earnings (losses) from real estate ventures	$ 1,316	(6,469)	(4,148)
New Valley \| Condominium and Mixed-Use Development \| Minimum \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	4.10%
New Valley \| Condominium and Mixed-Use Development \| Maximum \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	77.80%
New Valley \| Apartment Buildings
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 7,791	9,471
Total contributions	148	0
Total distributions	0	550
Total equity in earnings (losses) from real estate ventures	$ (2,268)	(1,879)	18,566
New Valley \| Apartment Buildings \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	50.00%
New Valley \| Apartment Buildings \| Minimum \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	1.50%
New Valley \| Hotels
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 138	2,510
Total contributions	0	206
Total distributions	5,164	0
Total equity in earnings (losses) from real estate ventures	$ 2,792	(853)	(1,927)
New Valley \| Hotels \| Minimum \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	0.40%
New Valley \| Hotels \| Maximum \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	49.00%
New Valley \| Commercial
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 15,234	15,347
Total contributions	0	8,070
Total distributions	473	1,018
Total equity in earnings (losses) from real estate ventures	$ 362	1,005	(1,811)
New Valley \| Commercial \| Minimum \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	1.60%
New Valley \| Commercial \| Maximum \| Investments in real estate ventures
Schedule of Investments [Line Items]
Equity method ownership percentage	49.00%
New Valley \| Other
Schedule of Investments [Line Items]
Investments in real estate ventures	$ 0	439
Total contributions	0	72
Total distributions	0	4,459
Total equity in earnings (losses) from real estate ventures	$ 0	$ 2,250	$ (430)

Leases (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Lease renewal term	5 years
Lease termination term	1 year
Operating lease right-of-use assets	$ 11,017	$ 7,742
Operating lease liabilities	11,883
Rent expense	4,384	4,405	$ 4,578
Lease not yet commenced	2,071
Amortization and impairment	3,411	3,381	3,275
Interest accretion	973	$ 1,024	$ 1,303
Leased office space from affiliate of significant stockholder \| Leased office space from affiliate of significant stockholder
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	1,891
Operating lease liabilities	1,937
Rent expense	$ 541
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Lease terms not yet commenced	2 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years
Lease terms not yet commenced	3 years

New Valley LLC (Tables)

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

Schedule of Investments in Real Estate Ventures

The components of “Investments in real estate ventures” were as follows:


	Range of Ownership (1)	December 31, 2023		December 31, 2022
Condominium and Mixed-Use Development	4.1% - 77.8%	$	108,334	$	93,350
Apartment Buildings	1.5% - 50.0%	7,791		9,471
Hotels	0.4% - 49.0%	138		2,510
Commercial	1.6% - 49.0%	15,234		15,347
Other	—%	—		439
Investments in real estate ventures		$	131,497	$	121,117

_____________________________

(1)The Range of Ownership reflects New Valley’s estimated current ownership percentage. New Valley’s actual ownership percentage as well as the percentage of earnings and cash distributions may ultimately differ because of a number of factors including potential dilution, financing or admission of additional partners.

The components of New Valley’s contributions to its investments in real estate ventures were as follows:


	December 31, 2023		December 31, 2022
Condominium and Mixed-Use Development	$	17,285	$	17,221
Apartment Buildings	148		—
Hotels	—		206
Commercial	—		8,070
Other	—		72
Total contributions	$	17,433	$	25,569

The components of distributions received by New Valley from its investments in real estate ventures were as follows:


	December 31, 2023		December 31, 2022
Condominium and Mixed-Use Development	$	7,797	$	2,348
Apartment Buildings	—		550
Hotels	5,164		—
Commercial	473		1,018
Other	—		4,459
Total distributions	$	13,434	$	8,375

New Valley recognized equity in earnings (losses) from real estate ventures as follows:


	Year Ended December 31,
	2023		2022		2021
Condominium and Mixed-Use Development	$	1,316	$	(6,469)	$	(4,148)
Apartment Buildings	(2,268)		(1,879)		18,566
Hotels	2,792		(853)		(1,927)
Commercial	362		1,005		(1,811)
Other	—		2,250		(430)
Total equity in earnings (losses) from real estate ventures	$	2,202	$	(5,946)	$	10,250

The maximum exposure to loss was as follows:


	December 31, 2023
Condominium and Mixed-Use Development	$	108,334
Apartment Buildings	7,791
Hotels	138
Commercial	15,234

Total maximum exposure to loss	$	131,497

Schedule of Equity Method Investments

Equity-method investments consisted of the following:


	December 31, 2023		December 31, 2022
Mutual and hedge funds	$	17,358	$	16,040

Equity in earnings (losses) from investments were:


	Year Ended December 31,
	2023		2022		2021
Mutual fund and hedge funds	$	1,262	$	(4,995)	$	2,675

Pursuant to Rule 4-08(g), the following summarized financial data for unconsolidated subsidiaries includes information for the mutual fund and hedge funds.


	Year Ended December 31,
	2023		2022		2021
Investment income	$	4,713	$	3,209	$	1,574
Expenses	10,585		13,272		12,873
Net investment loss	(5,872)		(10,063)		(11,299)
Total net realized gain (loss) and net change in unrealized depreciation from investments	4,824		(84,466)		48,342
Net (decrease) increase in partners’ capital resulting from operations	$	(1,048)	$	(94,529)	$	37,043


	December 31, 2023		December 31, 2022
Investment securities	$	290,916	$	299,389
Cash and cash equivalents	695		2,860
Other assets	38,471		87,507
Total assets	$	330,082	$	389,756

Other liabilities	$	159,858	$	159,246
Total liabilities	159,858		159,246
Partners’ capital	170,224		230,510
Total liabilities and partners’ capital	$	330,082	$	389,756

Pursuant to Rule 4-08(g), the following summarized financial data for unconsolidated subsidiaries includes information for the following: Other Condominium and Mixed-Use Development, Apartment Buildings, Hotels, Commercial and Other.


	Year Ended December 31,
Income Statements	2023		2022		2021
Other Condominium and Mixed-Use Development:
Revenue	$	94,606	$	117,836	$	301,703
Cost of sales	451		63,618		317,894
Other expenses	129,509		143,619		117,985
Loss from continuing operations	$	(35,354)	$	(89,401)	$	(134,176)

Apartment Buildings:
Revenue	$	22,403	$	2,934	$	35,213

Other expenses	60,479		4,563		46,360
Loss from continuing operations	$	(38,076)	$	(1,629)	$	(11,147)

Hotels:
Revenue	$	175,921	$	166,169	$	42,549
Cost of sales	5,121		5,049		3,671
Other expenses	403,510		293,761		201,211
Loss from continuing operations	$	(232,710)	$	(132,641)	$	(162,333)

Commercial:
Revenue	$	7,052	$	10,226	$	1,662

Equity in earnings	1,241		37,690		24,383
Other expenses	6,028		12,274		1,412
Income from continuing operations	$	2,265	$	35,642	$	24,633

Other:
Revenue	$	—	$	6,761	$	180,092

Other expenses	—		21,548		303,352
Loss from continuing operations	$	—	$	(14,787)	$	(123,260)


Balance Sheets	December 31, 2023		December 31, 2022
Other Condominium and Mixed-Use Development:
Investment in real estate	$	1,890,797	$	1,529,516
Total assets	2,049,105		1,667,802
Total debt	1,535,543		1,193,638
Total liabilities	1,898,725		1,480,725
Non-controlling interest	91,146		73,391

Apartment Buildings:
Investment in real estate	$	478,669	$	64,350
Total assets	542,165		68,664
Total debt	378,978		48,449
Total liabilities	396,668		49,722
Non-controlling interest	93,871		—

Hotels:
Investment in real estate	$	759,515	$	1,580,798
Total assets	792,831		1,651,072
Total debt	248,419		1,113,419
Total liabilities	664,582		1,281,161
Non-controlling interest	141,060		374,608

Commercial:
Investment in real estate	$	55,094	$	51,468
Total assets	73,658		71,364
Total debt	59,994		56,394
Total liabilities	60,980		57,424
Non-controlling interest	—		—

Other:
Investment in real estate	$	—	$	430,961
Total assets	—		486,655
Total debt	—		321,587
Total liabilities	—		331,928
Non-controlling interest	—		112,141

Contingencies (Judgments Paid, Liggett Only Cases and Upcoming Trails) (Details) - Liggett $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) case
Lukacs, Campbell, Douglas, Clay, Tullo, Ward Rizzuto, Lambert, Buchanan and Santoro
Loss Contingencies [Line Items]
Payments for legal settlements \| $	$ 40,111
Cowart, Cunningham, Siler and Watson
Loss Contingencies [Line Items]
Cases pending (in cases)	5
Kanuha, Lane, Sandler and Taylor
Loss Contingencies [Line Items]
Cases pending (in cases)	4

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Employee benefit accruals	$ 6,452	$ 7,471
Impairment of investments	6,451	12,342
Impact of timing of settlement payments	6,210	9,054
Various U.S. federal and state tax loss carryforwards	1,284	1,828
Operating lease liabilities	3,000	2,328
Current expected credit losses	4,020	4,111
Other	2,564	3,000
Deferred tax assets	29,981	40,134
Less: Valuation allowance	(552)	(550)
Net deferred tax assets	29,429	39,584
Deferred tax liabilities:
Basis differences on non-consolidated entities	(38,413)	(39,884)
Basis differences on fixed and intangible assets	(33,354)	(34,794)
Basis differences on inventory	(9,776)	(11,165)
Basis differences on long-term investments	(1,943)	(2,777)
Operating lease right of use assets	(2,781)	(1,998)
Other	(1,132)	0
Deferred tax liabilities	(87,399)	(90,618)
Net deferred tax liabilities	$ (57,970)	$ (51,034)

Related Party Transactions (Details) $ in Thousands	12 Months Ended
Related Party Transactions (Details) $ in Thousands	Dec. 31, 2023 USD ($) lease director	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2012 USD ($)
Related Party Transaction [Line Items]
Revenue	$ 1,424,268	$ 1,441,009	$ 1,220,700
Other, net	$ 26,119	2,746	10,687
Number of shared board members \| director	3
Rent expense	$ 4,384	4,405	4,578
Indemnification Agreement \| Douglas Elliman Realty, LLC
Related Party Transaction [Line Items]
Other, net		589
Directors \| Compensation Paid to Director of Liggett
Related Party Transaction [Line Items]
Amount of transaction	$ 720	720	720
Directors \| LTS Common Stock \| Dr. Phillip Frost
Related Party Transaction [Line Items]
Percent of ownership by management (more than 10%)	5.00%
Subsidiaries \| Douglas Elliman Realty, LLC
Related Party Transaction [Line Items]
Gross commissions	$ 1,766	1,709	8,956
Subsidiaries \| Transition Services Agreement
Related Party Transaction [Line Items]
Revenue	$ 4,200	4,200
Aircraft Lease Agreements \| lease	2
Subsidiaries \| Aircraft Lease Agreement
Related Party Transaction [Line Items]
Revenue	$ 2,124	2,418
Son of Company's President and Chief Executive Officer \| Douglas Elliman Realty, LLC
Related Party Transaction [Line Items]
Other, net			925
President and Chief Executive Officer \| Insurance Commissions
Related Party Transaction [Line Items]
Amount of transaction	265	257	241
Affiliated Entity \| Frost Real Estate Holdings, LLC
Related Party Transaction [Line Items]
Monthly lease payments, initial				$ 43
Monthly lease payments, increase				$ 48
Rent expense	$ 541	$ 458	$ 458

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Finance lease, liability, current, statement of financial position [extensible enumeration]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Finance lease, liability, noncurrent, statement of financial position [extensible enumeration]	Amount due after one year	Amount due after one year
Finance leases:
Property, plant and equipment, at cost	$ 127	$ 127
Accumulated amortization	(120)	(95)
Property and equipment, net	7	32
Current portion of notes payable and long-term debt	8	29
Notes payable, long-term debt and other obligations, less current portion	0	8
Total	$ 8	$ 37
Weighted average remaining lease term in years:
Operating leases	3 years 10 months 6 days	2 years 6 months 25 days
Finance leases	3 months	1 year 3 months
Weighted average discount rate:
Operating leases	9.78%	9.89%
Finance leases	8.85%	8.85%

Contingencies (Engle Progeny Cases and Cautionary Statement About Engle Progeny Cases) (Details) - Engle Progeny Cases $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 21, 1996 USD ($)	Oct. 31, 2013 USD ($)	Dec. 31, 2023 USD ($) case
Loss Contingencies [Line Items]
Amount of litigation settlement awarded to other party \| $	$ 145,000,000
Liggett
Loss Contingencies [Line Items]
Amount of litigation settlement awarded to other party \| $	$ 790,000	$ 110,000	$ 23,150
Cases with verdicts			25
Plaintiffs' verdicts (in cases)			16
Cases with verdicts in favor of defendants			9
Cases including punitive damages (in cases)			5

Current Expected Credit Losses

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

CURRENT EXPECTED CREDIT LOSSES

Tobacco receivables: Average collection terms for Tobacco sales range between three and twelve days from the time that the cigarettes are shipped to the customer. Based on Tobacco historical and ongoing cash collections from customers, an estimated credit loss in accordance with ASU 2016-13 was not recorded for these trade receivables as of December 31, 2023 and December 31, 2022.

Term loan receivables: New Valley periodically provides term loans to commercial real estate developers, which are included in Other assets on the consolidated balance sheets. New Valley had two loans in maturity default as of December 31, 2023, with a total amortized cost basis of $15,928, including accrued interest receivable of $6,428 as of both December 31, 2023 and December 31, 2022. The loans are secured by guarantees and given their risk profiles are evaluated individually. As New Valley does not have internal historical loss information by which to evaluate the risk of credit losses, external market data measuring default risks on high yield loans as of each measurement date was utilized to estimate reserves for credit losses on these loans. Pursuant to the requirements of ASU 2016-13, New Valley’s expected credit loss estimate was $15,928 as of both December 31, 2023 and December 31, 2022.

The following is the reconciliation of the allowance for credit losses for the year ended December 31, 2023:


	January 1, 2023		Current Period Provision	Write-offs	Recoveries	December 31, 2023
Allowance for credit losses:
New Valley term loan receivables	$	15,928	—	—	—	$	15,928

The following is the reconciliation of the allowance for credit losses for the year ended December 31, 2022:


	January 1, 2022		Current Period Provision	Write-offs	Recoveries	December 31, 2022
Allowance for credit losses:
New Valley term loan receivables	$	15,928	—	—	—	$	15,928

- Definition

The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-42

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 44
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-44

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-21

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479106/326-30-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479106/326-30-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-20

+ Details

Investment Securities (Schedule of Net Gains Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net gains (losses) recognized on equity securities	$ 3,045	$ (5,011)	$ 9,615
Net (losses) gains recognized on debt and equity securities available for sale	(159)	6	45
Impairment expense	(292)	(2,975)	(276)
Net gains (losses) recognized on investment securities	$ 2,594	$ (7,980)	$ 9,384

- Definition

Amount of realized gain (loss) on investment in debt and equity securities.

+ References + Details

Discontinued Operations

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

On December 29, 2021, at 11:59 p.m., New York City time, the Company completed the distribution to its stockholders (including Vector common stock underlying outstanding stock options awards and restricted stock awards) of the common stock of Douglas Elliman (the “Distribution”). Each holder of Vector common stock received one share of Douglas Elliman’s common stock for every two shares of Vector common stock (including Vector common stock underlying outstanding stock option awards and restricted stock awards) held of record as of the close of business, New York City time, on December 20, 2021. In the Distribution, an aggregate of 77,720,159 shares of Douglas Elliman’s common stock were issued, with any fractional shares converted to cash and paid to applicable Vector stockholders. Prior to the Distribution, Douglas Elliman was a component of the Real Estate segment of the Company.

Following the Distribution, Douglas Elliman is a separate public company. The Company and Douglas Elliman entered into a distribution agreement (the “Distribution Agreement”) and several ancillary agreements for the purpose of accomplishing the Distribution. The Distribution Agreement includes an agreement that the Company and Douglas Elliman will provide each other with appropriate indemnities with respect to liabilities arising out of the business retained by Vector and the business transferred to Douglas Elliman by Vector. These agreements also govern the Company’s relationship with Douglas Elliman after the Distribution and provide for the allocation of employee benefit, tax and some other liabilities and obligations attributable to periods prior to, at and after the Distribution. These agreements also include arrangements with respect to transition services (the “Transition Services Agreement”). The Company entered into a Tax Disaffiliation Agreement with Douglas Elliman that governs Vector’s and Douglas Elliman’s respective rights, responsibilities and obligations with respect to taxes and tax benefits, the filing of tax returns, the control of audits and other tax matters. Douglas Elliman will be party to other arrangements with Vector and its subsidiaries.

Douglas Elliman and its eligible subsidiaries have previously joined with Vector in the filing of certain consolidated, combined, and unitary returns for state, local, and other applicable tax purposes. However, for periods (or portions thereof) beginning after the Distribution, Douglas Elliman will not join with Vector or any of its subsidiaries (as determined after the Distribution) in the filing of any federal, state, local or other applicable consolidated, combined or unitary tax returns.

Under the Tax Disaffiliation Agreement, with certain exceptions, Vector will be generally responsible for all of Douglas Elliman’s U.S. federal, state, local and other applicable income and non-income taxes for any taxable period or portion of such period ending on or before the Distribution date. Douglas Elliman will be generally responsible for all taxes that are attributable to it or one of its subsidiaries after the Distribution date. The Company paid Douglas Elliman $589 in 2022 and recorded Other expense in its consolidated statements of operations for the year ended December 31, 2022 related to the tax indemnifications.

There were no assets or liabilities of discontinued operations of Douglas Elliman as of December 31, 2023 and 2022, respectively.

The financial results of Douglas Elliman through the Distribution are presented as income from discontinued operations, net of income taxes on the Company’s consolidated statements of operations. The following table presents financial results of Douglas Elliman for the periods prior to the completion of the Distribution:


	Year Ended December 31,
	2023		2022		2021
	(Dollars in thousands, except per share amounts)
Revenues:
Real estate	$	—	$	—	$	1,344,825

Expenses:
Cost of sales	—		—		989,436

Operating, selling, administrative and general expenses	—		—		253,942



Operating income	—		—		101,447

Other expenses:
Interest expense	—		—		(164)
Equity in losses from real estate ventures	—		—		(278)
Other, net	—		—		(870)
Pretax income from discontinued operations	—		—		100,135
Income tax expense	—		—		28,016
Income from discontinued operations	—		—		72,119

Net loss from discontinued operations attributed to non-controlling interest	—		—		190

Net income from discontinued operations attributed to Vector Group Ltd.	$	—	$	—	$	72,309

The following table presents the information regarding certain components of cash flows from discontinued operations:


	Year Ended December 31,
	2023		2022		2021
	(Dollars in thousands, except per share amounts)
Depreciation and amortization	$	—	$	—	$	8,561
Non-cash lease expense	—		—		18,667



Capital expenditures	—		—		(4,106)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 183,526	$ 158,701	$ 219,273
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,941	7,218	16,334
Non-cash stock-based expense	10,111	7,848	14,799
(Loss) gain on extinguishment of debt	549	(412)	8,349
Gain on sale of assets	0	0	(724)
Deferred income taxes	5,932	15,226	14,464
Distributions from investments	0	0	134
Equity in (earnings) losses from investments	(1,262)	4,995	(2,675)
Net (gains) losses on investment securities	(2,594)	7,980	(9,648)
Equity in (earnings) losses from real estate ventures	(2,202)	5,946	(9,972)
Distributions from real estate ventures	4,248	3,429	25,326
Non-cash interest expense	2,225	4,114	4,838
Non-cash lease expense	3,410	3,381	21,941
Provision for credit losses	0	0	3,331
Other	18	376	393
Changes in assets and liabilities:
Receivables	13,825	(24,804)	(9,630)
Inventories	489	2,168	2,930
Accounts payable and accrued liabilities	(5,358)	(8,318)	196
Payments due under the Master Settlement Agreement	(8,395)	844	(31,590)
Investments in real estate, net	0	0	5,652
Litigation accruals	(2,177)	(5,185)	(1,637)
Other assets and liabilities, net	698	(2,190)	(16,865)
Net cash provided by operating activities	209,984	181,317	255,219
Cash flows from investing activities:
Sale of investment securities	34,705	23,929	45,627
Maturities of investment securities	89,681	53,030	71,505
Purchase of investment securities	(115,225)	(54,040)	(124,080)
Proceeds from sale or liquidation of long-term investments	5,530	9,266	11,509
Purchase of long-term investments	(9,416)	(4,363)	(14,316)
(Increase) decrease in restricted assets	(18)	5	(5)
Investments in real estate ventures	(17,433)	(25,569)	(49,463)
Distributions from investments in real estate ventures	9,186	4,946	11,936
Proceeds from sale of fixed assets	3	0	17
Capital expenditures	(10,557)	(9,957)	(13,506)
Increase in cash surrender value of life insurance policies	(1,169)	(1,173)	(1,219)
Purchase of subsidiaries	0	0	(500)
Pay downs of investment securities	113	198	525
Net cash used in investing activities	(14,600)	(3,728)	(61,970)
Cash flows from financing activities:
Proceeds from issuance of debt	0	0	875,000
Repayments of debt	(23,679)	(12,253)	(862,973)
Deferred financing costs	0	0	(20,109)
Borrowings under revolver	87,576	112,558	27,892
Repayments on revolver	(109,611)	(90,547)	(27,868)
Dividends and distributions on common stock	(126,232)	(128,262)	(131,798)
Contributions from non-controlling interest	0	0	1,625
Withholding of shares as payment of payroll tax liabilities in connection with restricted stock vesting and exercise of stock options	(3,706)	(2,622)	(13,145)
Cash transferred to Douglas Elliman Inc. at the Distribution	0	0	(212,571)
Other	0	(938)	(130)
Net cash used in financing activities	(175,652)	(122,064)	(364,077)
Net increase (decrease) in cash, cash equivalents and restricted cash	19,732	55,525	(170,828)
Cash, cash equivalents and restricted cash, beginning of year	250,374	194,849	365,677
Cash, cash equivalents and restricted cash, end of year	$ 270,106	$ 250,374	$ 194,849

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

The amounts provided for income taxes were as follows:


	Year Ended December 31,
	2023		2022		2021
Current:
U.S. Federal	$	47,991	$	35,733	$	33,398
State	11,003		10,902		14,945
	58,994		46,635		48,343
Deferred:
U.S. Federal	5,301		11,079		11,399
State	631		4,147		3,065
	5,932		15,226		14,464
Total	$	64,926	$	61,861	$	62,807

The tax effect of temporary differences which give rise to a significant portion of deferred tax assets and liabilities is as follows:


	December 31, 2023		December 31, 2022
Deferred tax assets:
Employee benefit accruals	$	6,452	$	7,471
Impairment of investments	6,451		12,342
Impact of timing of settlement payments	6,210		9,054

Various U.S. federal and state tax loss carryforwards	1,284		1,828
Operating lease liabilities	3,000		2,328
Current expected credit losses	4,020		4,111
Other	2,564		3,000
	29,981		40,134
Less: Valuation allowance	(552)		(550)
Net deferred tax assets	$	29,429	$	39,584

Deferred tax liabilities:
Basis differences on non-consolidated entities	$	(38,413)	$	(39,884)
Basis differences on fixed and intangible assets	(33,354)		(34,794)

Basis differences on inventory	(9,776)		(11,165)
Basis differences on long-term investments	(1,943)		(2,777)


Operating lease right of use assets	(2,781)		(1,998)
Other	(1,132)		—
	$	(87,399)	$	(90,618)

Net deferred tax liabilities	$	(57,970)	$	(51,034)

The Company files a consolidated U.S. income tax return that includes its more than 80%-owned U.S. subsidiaries. Standalone subsidiaries had tax-effected federal and state and local net operating loss (“NOL”) carryforwards of $1,284 and $1,828 as of December 31, 2023 and 2022, respectively, expiring through tax year 2027. The Company records a valuation allowance against deferred tax assets if, based on the weight of available evidence, it is more likely than not that some or all

deferred tax assets will not be realized. The Company had valuation allowances of $552 and $550 as of December 31, 2023 and 2022, respectively. The valuation allowances as of December 31, 2023 and 2022 primarily related to state net operating loss carryforwards of standalone subsidiaries.

The consolidated balance sheets of the Company include deferred income tax assets and liabilities, which represent temporary differences in the application of accounting rules established by U.S. GAAP and income tax laws.

Differences between the amounts provided for income taxes and amounts computed at the federal statutory tax rate are summarized as follows:


	Year Ended December 31,
	2023		2022		2021
Income before provision for income taxes	$	248,452	$	220,562	$	209,961
Federal income tax expense at statutory rate	52,175		46,318		44,092
Increases (decreases) resulting from:
State income taxes, net of federal income tax benefits	10,640		10,585		13,946

Non-deductible expenses	3,867		3,511		6,205


Excess tax benefits on stock-based compensation	(320)		(285)		(561)


Changes in valuation allowance, net of equity and tax audit adjustments	2		202		(504)

Other	(1,438)		1,530		(371)
Income tax expense	$	64,926	$	61,861	$	62,807

The Company’s income tax expense is principally attributable to the Company’s federal and state income taxes based on the Company’s earnings. The non-deductible expenses presented in the table above largely relate to the Company’s non-deductible executive compensation. The state NOLs and valuation allowance are decreased by the NOLs expiration. For the year ended December 31, 2021, the non-deductible expenses also included Distribution expenses and the federal and state NOLs and valuation allowance also decreased by the Distribution entity.

The following table summarizes the activity related to the unrecognized tax benefits:


Balance at January 1, 2021	$	1,653

Additions based on tax positions related to prior years	1,640

Settlements	(1,065)
Expirations of the statute of limitations	(19)
Balance at December 31, 2021	2,209

Additions based on tax positions related to prior years	1,409

Settlements	—
Expirations of the statute of limitations	(351)
Balance at December 31, 2022	3,267

Additions based on tax positions related to prior years	1,453

Settlements	(1,456)
Expirations of the statute of limitations	(266)
Balance at December 31, 2023	$	2,998

In the event the unrecognized tax benefits of $2,998 as of December 31, 2023 were recognized, such recognition would impact the effective tax rate. The Company classifies all tax-related interest and penalties as income tax expense. The Company had accrued, as a component of the unrecognized tax benefits, interest and penalties of $628 and $699 as of December 31, 2023 and 2022, respectively.

It is reasonably possible the Company may recognize up to approximately $331 of unrecognized tax benefits over the next 12 months, primarily pertaining to expiring statutes of limitations on prior state and local income tax return positions.

The Company files U.S. and state and local income tax returns in jurisdictions with varying statutes of limitations generally ranging from three to five years. The Company, from time-to-time, receives notices related to audits and adjustments related to its partnerships.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

New Valley LLC (Combined Financial Statements for Unconsolidated Subsidiaries) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statements
Revenue	$ 1,424,268	$ 1,441,009	$ 1,220,700
Total cost of sales	965,348	998,658	769,542
Equity in earnings	1,262	(4,995)	2,675
Income from continuing operations	183,526	158,701	147,154
Balance Sheets
Investments in real estate ventures	131,497	121,117
Total assets	934,095	908,591
Total liabilities	1,675,909	1,716,468
New Valley
Balance Sheets
Investments in real estate ventures	131,497	121,117
New Valley \| Condominium and Mixed-Use Development
Balance Sheets
Investments in real estate ventures	108,334	93,350
New Valley \| Apartment Buildings
Balance Sheets
Investments in real estate ventures	7,791	9,471
New Valley \| Hotels
Balance Sheets
Investments in real estate ventures	138	2,510
New Valley \| Commercial
Balance Sheets
Investments in real estate ventures	15,234	15,347
New Valley \| Other
Balance Sheets
Investments in real estate ventures	0	439
New Valley \| Unconsolidated Properties \| Condominium and Mixed-Use Development
Income Statements
Revenue	94,606	117,836	301,703
Total cost of sales	451	63,618	317,894
Other expenses	129,509	143,619	117,985
Income from continuing operations	(35,354)	(89,401)	(134,176)
Balance Sheets
Investments in real estate ventures	1,890,797	1,529,516
Total assets	2,049,105	1,667,802
Total debt	1,535,543	1,193,638
Total liabilities	1,898,725	1,480,725
Non-controlling interest	91,146	73,391
New Valley \| Unconsolidated Properties \| Apartment Buildings
Income Statements
Revenue	22,403	2,934	35,213
Other expenses	60,479	4,563	46,360
Income from continuing operations	(38,076)	(1,629)	(11,147)
Balance Sheets
Investments in real estate ventures	478,669	64,350
Total assets	542,165	68,664
Total debt	378,978	48,449
Total liabilities	396,668	49,722
Non-controlling interest	93,871	0
New Valley \| Unconsolidated Properties \| Hotels
Income Statements
Revenue	175,921	166,169	42,549
Total cost of sales	5,121	5,049	3,671
Other expenses	403,510	293,761	201,211
Income from continuing operations	(232,710)	(132,641)	(162,333)
Balance Sheets
Investments in real estate ventures	759,515	1,580,798
Total assets	792,831	1,651,072
Total debt	248,419	1,113,419
Total liabilities	664,582	1,281,161
Non-controlling interest	141,060	374,608
New Valley \| Unconsolidated Properties \| Commercial
Income Statements
Revenue	7,052	10,226	1,662
Equity in earnings	1,241	37,690	24,383
Other expenses	6,028	12,274	1,412
Income from continuing operations	2,265	35,642	24,633
Balance Sheets
Investments in real estate ventures	55,094	51,468
Total assets	73,658	71,364
Total debt	59,994	56,394
Total liabilities	60,980	57,424
Non-controlling interest	0	0
New Valley \| Unconsolidated Properties \| Other
Income Statements
Revenue	0	6,761	180,092
Other expenses	0	21,548	303,352
Income from continuing operations	0	(14,787)	$ (123,260)
Balance Sheets
Investments in real estate ventures	0	430,961
Total assets	0	486,655
Total debt	0	321,587
Total liabilities	0	331,928
Non-controlling interest	$ 0	$ 112,141

Contingencies (Schedule of Contingencies) (Details) - Liggett - Individual Actions Cases	Dec. 31, 2023 case
Loss Contingencies [Line Items]
Cases pending (in cases)	70
Massachusetts
Loss Contingencies [Line Items]
Cases pending (in cases)	33
Illinois
Loss Contingencies [Line Items]
Cases pending (in cases)	17
Florida
Loss Contingencies [Line Items]
Cases pending (in cases)	10
Nevada
Loss Contingencies [Line Items]
Cases pending (in cases)	4
Louisiana
Loss Contingencies [Line Items]
Cases pending (in cases)	2
Hawaii
Loss Contingencies [Line Items]
Cases pending (in cases)	1
California
Loss Contingencies [Line Items]
Cases pending (in cases)	1
New Mexico
Loss Contingencies [Line Items]
Cases pending (in cases)	1
Alabama
Loss Contingencies [Line Items]
Cases pending (in cases)	1

Contingencies (Class Actions and Health Care Cost Recovery Actions) (Details)	Dec. 31, 2023 case defendant
Parsons v. AC & S Inc.
Loss Contingencies [Line Items]
Number of defendants in bankruptcy \| defendant	3
Liggett \| Class Actions
Loss Contingencies [Line Items]
Cases pending (in cases)	2
Liggett \| Crow Creek Sioux Tribe v. American Tobacco Company
Loss Contingencies [Line Items]
Cases pending (in cases)	1
Liggett and Other Cigarette Manufacturers \| Class Actions
Loss Contingencies [Line Items]
Cases pending (in cases)	2

Stock Compensation (Schedule of Additional Information Relating to Options Outstanding) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding (in shares) \| shares	2,767,504
Outstanding, Weighted Average Remaining Contractual Life	2 years 7 months 6 days
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 16.89
Options Exercisable (in shares) \| shares	2,767,504
Options Exercisable, Weighted Average Remaining Contractual Life	2 years 7 months 6 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 16.89
Options Exercisable, Aggregate Intrinsic Value \| $	$ 146
Exercise Price Range One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Minimum (in dollars per share)	$ 9.86
Range of Exercise Prices, Maximum (in dollars per share)	$ 11.83
Options Outstanding (in shares) \| shares	406,875
Outstanding, Weighted Average Remaining Contractual Life	5 years 2 months 12 days
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 10.92
Options Exercisable (in shares) \| shares	406,875
Options Exercisable, Weighted Average Remaining Contractual Life	5 years 2 months 12 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 10.92
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0
Exercise Price Range Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Minimum (in dollars per share)	$ 11.83
Range of Exercise Prices, Maximum (in dollars per share)	$ 13.80
Options Outstanding (in shares) \| shares	0
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 0
Options Exercisable (in shares) \| shares	0
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 0
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0
Exercise Price Range Three
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Minimum (in dollars per share)	$ 13.80
Range of Exercise Prices, Maximum (in dollars per share)	$ 15.77
Options Outstanding (in shares) \| shares	519,278
Outstanding, Weighted Average Remaining Contractual Life	4 months 24 days
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 14.68
Options Exercisable (in shares) \| shares	519,278
Options Exercisable, Weighted Average Remaining Contractual Life	4 months 24 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 14.68
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0
Exercise Price Range Four
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Minimum (in dollars per share)	$ 15.77
Range of Exercise Prices, Maximum (in dollars per share)	$ 17.74
Options Outstanding (in shares) \| shares	0
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 0
Options Exercisable (in shares) \| shares	0
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 0
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0
Exercise Price Range Five
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Minimum (in dollars per share)	$ 17.74
Range of Exercise Prices, Maximum (in dollars per share)	$ 19.71
Options Outstanding (in shares) \| shares	1,841,351
Outstanding, Weighted Average Remaining Contractual Life	2 years 7 months 6 days
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 18.84
Options Exercisable (in shares) \| shares	1,841,351
Options Exercisable, Weighted Average Remaining Contractual Life	2 years 7 months 6 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 18.84
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0

Summary of Significant Accounting Policies (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), tax effect	$ (1,099)	$ 121	$ (1,978)
Accumulated other comprehensive loss	(741,814)	(807,877)	(841,553)	$ (659,687)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(12,913)	(16,073)	(15,723)	$ (21,074)
Net unrealized gains on investment securities available for sale, net of income taxes of $78, $7, and $21, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), tax effect	(78)	(7)	(21)
Accumulated other comprehensive loss	212	7	46
Pension-related amounts, net of income taxes of $4,771, $5,799, and $5,692, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), tax effect	(4,771)	(5,799)	(5,692)
Accumulated other comprehensive loss	$ (13,125)	$ (16,080)	$ (15,769)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-12

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-2

+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of:


	December 31, 2023		December 31, 2022
Leaf tobacco	$	46,190	$	39,893
Other raw materials	9,372		8,808
Work-in-process	814		798
Finished goods	65,295		64,865

Inventories at current cost	121,671		114,364
LIFO adjustments:
Leaf tobacco	(19,941)		(15,213)
Other raw materials	(2,411)		(1,220)
Work-in-process	(105)		(25)
Finished goods	(7,255)		(5,458)
Total LIFO adjustments	(29,712)		(21,916)
	$	91,959	$	92,448

Earnings Per Share (Basic and Diluted Earnings Per Share) (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Weighted-average shares for basic EPS	153,196,070	152,752,874	152,403,072
Incremental shares related to stock options and non-vested restricted stock	134,718	141,977	71,777
Weighted-average shares for diluted EPS	153,330,788	152,894,851	152,474,849

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 8,914	$ 7,343	$ 8,542
Additions Charged to Costs and Expenses	41,792	37,372	31,102
Deductions	36,931	35,801	32,301
Balance at End of Period	13,775	8,914	7,343
Cash discounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	838	326	334
Additions Charged to Costs and Expenses	33,727	33,748	28,663
Deductions	34,017	33,236	28,671
Balance at End of Period	548	838	326
Deferred tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	550	348	852
Additions Charged to Costs and Expenses	2	202	0
Deductions	0	0	504
Balance at End of Period	552	550	348
Sales returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	7,526	6,669	7,356
Additions Charged to Costs and Expenses	8,063	3,422	2,439
Deductions	2,914	2,565	3,126
Balance at End of Period	$ 12,675	$ 7,526	$ 6,669

Consolidated Statements of Operations - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Revenues:

Revenue

$ 1,424,268

$ 1,441,009

$ 1,220,700

Cost of sales:

Total cost of sales

965,348

998,658

769,542

Operating, selling, administrative and general expenses

112,086

103,102

131,418

Litigation settlement and judgment expense

18,799

239

211

Net gains on sales of assets

(910)

Operating income

328,035

339,010

320,439

Other income (expenses):

Interest expense

(108,617)

(110,665)

(112,728)

(Loss) gain on extinguishment of debt

(549)

412

(21,362)

Equity in earnings (losses) from investments

1,262

(4,995)

2,675

Equity in earnings (losses) from real estate ventures

2,202

(5,946)

10,250

Other, net

26,119

2,746

10,687

Income before provision for income taxes

248,452

220,562

209,961

Income tax expense

64,926

61,861

62,807

Income from continuing operations

183,526

158,701

147,154

Income from discontinued operations, net of income taxes

72,119

Net income

183,526

158,701

219,273

Net loss from continuing operations attributed to non-controlling interest

Net loss from discontinued operations attributed to non-controlling interest

190

Net loss attributed to non-controlling interest

190

Net income attributed to Vector Group Ltd. from continuing operations

183,526

158,701

147,154

Net income attributed to Vector Group Ltd. from discontinued operations

72,309

Net income

$ 183,526

$ 158,701

$ 219,463

Per basic common share:

Net income from continuing operations applicable to common shares attributed to Vector Group Ltd. (in dollars per share)

$ 1.17

$ 1.01

$ 0.94

Net income from discontinued operations applicable to common shares attributed to Vector Group Ltd. (in dollars per share)

0.46

Net income applicable to common shares attributed to Vector Group Ltd. (in dollars per share)

1.17

1.01

1.40

Per diluted common share:

Net income from continuing operations applicable to common shares attributed to Vector Group Ltd. (in dollars per share)

1.16

1.01

0.94

Net income from discontinued operations applicable to common shares attributed to Vector Group Ltd. (in dollars per share)

0.46

Net income applicable to common share attributed to Vector Group Ltd. (in dollars per share)

$ 1.16

$ 1.01

$ 1.40

Tobacco

Revenues:

Revenue

^[1]

$ 1,424,268

$ 1,425,125

$ 1,202,497

Cost of sales:

Total cost of sales

^[1]

965,348

991,331

758,015

Real estate

Revenues:

Revenue

15,884

18,203

Cost of sales:

Total cost of sales

$ 0

$ 7,327

$ 11,527

[1]	Revenues and cost of sales include federal excise taxes of $486,263, $520,760 and $434,695 for the years ended December 31, 2023, 2022 and 2021, respectively.

Employee Benefit Plans (Narrative) (Details) $ in Thousands	12 Months Ended
Employee Benefit Plans (Narrative) (Details) $ in Thousands	Dec. 31, 2023 USD ($) plan employee	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit plans \| plan	4
Target allocation, rebalancing range	5.00%
Assumed annual increases in Medicare Part B trends after eight years	4.50%	4.50%
Anticipated required contributions	$ 88
401 (k) plan cost recognized	$ 1,756	$ 1,590	$ 1,473
Minimum
Defined Benefit Plan Disclosure [Line Items]
Assumed annual increases in Medicare Part B trends for next eight years	5.54%	3.06%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Assumed annual increases in Medicare Part B trends for next eight years	7.23%	8.01%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation	35.00%
Investment grade fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation	65.00%
Hourly Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Period for amortization of benefit plan gains and losses	12 years 7 months 20 days
Salaried Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Period for amortization of benefit plan gains and losses	11 years 3 days
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit plans \| plan	4
2024	$ 5,524
2025	5,177
2026	4,860
2027	4,539
2028	72,548
2029 - 2033	$ 23,577
Ten-year rate of return	4.42%	4.83%	7.74%
Five-year rate of return	3.00%	2.42%	7.86%
Pension Benefits \| Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit plans \| plan	2
Pension Benefits \| Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit plans \| plan	2
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Age requirement for participant	60 years
Required employment period	8 years
2028	$ 68,316
2029 - 2033	6,866
Supplemental Employee Retirement Plan \| President and Chief Executive Officer
Defined Benefit Plan Disclosure [Line Items]
Additional benefit	$ 1,788
Service period credit upon termination	36 months
Postretirement Medical
Defined Benefit Plan Disclosure [Line Items]
2024	$ 601
2025	590
2026	579
2027	551
2028	533
2029 - 2033	$ 2,313
Employee contribution percentage	100.00%
Number of retired employees \| employee	43
Postretirement Life Insurance
Defined Benefit Plan Disclosure [Line Items]
Number of retired employees \| employee	326
Number of active employees \| employee	66

Contingencies (Engle Progeny Settlements) (Details) $ in Thousands		1 Months Ended		12 Months Ended
	Nov. 21, 1996 USD ($)	Feb. 28, 2015	Oct. 31, 2013 USD ($) case	Dec. 31, 2023 USD ($) case agreement plaintiff
Engle Progeny Cases
Loss Contingencies [Line Items]
Amount of litigation settlement awarded to other party	$ 145,000,000
Liggett \| Engle Progeny Cases
Loss Contingencies [Line Items]
Cases settled \| case			4,900	214
Amount of litigation settlement awarded to other party	$ 790,000		$ 110,000	$ 23,150
Litigation settlement amount paid in lump sum			61,600
Litigation settlement, installment term		14 years
Litigation settlement amount of estimated future payments per annum			$ 4,000
Payments for legal settlements				$ 8,400
Liggett \| Engle Progeny Cases, Settled Separate
Loss Contingencies [Line Items]
Cases settled \| agreement				2
Number of plaintiffs \| plaintiff				152
Liggett and Vector Tobacco \| Engle Progeny Cases
Loss Contingencies [Line Items]
Cases pending (in cases) \| case				14

Income Taxes (Components of Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
U.S. Federal	$ 47,991	$ 35,733	$ 33,398
State	11,003	10,902	14,945
Current Total	58,994	46,635	48,343
Deferred:
U.S. Federal	5,301	11,079	11,399
State	631	4,147	3,065
Deferred Total	5,932	15,226	14,464
Income tax expense	$ 64,926	$ 61,861	$ 62,807

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Components of Cash, Cash Equivalents and Restricted Cash

The components of “Cash, cash equivalents and restricted cash” in the Consolidated Statements of Cash Flows were as follows:


	December 31, 2023		December 31, 2022		December 31, 2021
Cash and cash equivalents	$	268,600	$	224,580	$	193,411

Restricted cash and cash equivalents included in other assets	1,506		25,794		1,438

Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	270,106	$	250,374	$	194,849

Schedule of Cash and Cash Equivalents

The components of “Cash, cash equivalents and restricted cash” in the Consolidated Statements of Cash Flows were as follows:


	December 31, 2023		December 31, 2022		December 31, 2021
Cash and cash equivalents	$	268,600	$	224,580	$	193,411

Restricted cash and cash equivalents included in other assets	1,506		25,794		1,438

Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	270,106	$	250,374	$	194,849

Schedule of Accumulated Other Comprehensive Loss, Net of Income Taxes

The components of accumulated other comprehensive loss, net of income taxes, were as follows:


	December 31, 2023		December 31, 2022		December 31, 2021
Net unrealized gains on investment securities available for sale, net of income taxes of $78, $7, and $21, respectively	$	212	$	7	$	46


Pension-related amounts, net of income taxes of $4,771, $5,799, and $5,692, respectively	(13,125)		(16,080)		(15,769)
Accumulated other comprehensive loss	$	(12,913)	$	(16,073)	$	(15,723)

Schedule of Other, Net

Other, net consisted of:


	Year Ended December 31,
	2023		2022		2021
Interest and dividend income	$	23,491	$	8,627	$	1,920




Change in derivative associated with guarantee	—		2,646		—

Expense related to Tax Disaffiliation indemnification	—		(589)		—
Net gains (losses) recognized on investment securities	2,594		(7,980)		9,384
Net periodic benefit cost other than the service costs	(1,353)		(944)		(975)





Other income	1,387		986		358
Other, net	$	26,119	$	2,746	$	10,687

Schedule of Other Assets

Other assets consisted of:


	December 31, 2023		December 31, 2022
Restricted assets	$	1,619	$	25,907
Prepaid pension costs	45,292		38,100

Other assets	37,418		31,310
Total other assets	$	84,329	$	95,317

Schedule of Other Current Liabilities

Other current liabilities consisted of:


	December 31, 2023		December 31, 2022
Accounts payable	$	6,749	$	6,351
Accrued promotional expenses	51,146		56,645
Accrued excise and payroll taxes payable, net	13,144		17,160
Accrued interest	30,041		30,451

Accrued salaries and benefits	10,952		9,614

Allowance for sales returns	12,675		7,526
Other current liabilities	6,973		7,423
Total other current liabilities	$	131,680	$	135,170

Employee Benefit Plans (Accumulated Benefit Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Accumulated benefit obligation	$ 61,724	$ 57,618
Projected benefit obligation	61,724	57,618
Fair value of plan assets	$ 0	$ 0

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of:


	December 31, 2023		December 31, 2022
Land and improvements	$	1,678	$	1,678
Buildings	18,911		18,792
Machinery and equipment	185,966		175,816
Leasehold improvements	1,266		1,266
	207,821		197,552
Less accumulated depreciation and amortization	(164,441)		(157,972)
	$	43,380	$	39,580

Notes Payable, Long-Term Debt and Other Obligations (Schedule of Non-Cash Interest Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 02, 2018	Jan. 27, 2017
Debt Instrument [Line Items]
Amortization of debt discount, net	$ 490	$ 439	$ 393
Amortization of debt issuance costs	4,371	4,102	3,775
Non-Cash Interest Expense	5,410	4,129	12,517
10.5% Senior Notes due 2026 \| Senior Notes
Debt Instrument [Line Items]
Interest rate				10.50%
Loss (gain) on repurchase of 10.5% Senior Notes	549	(412)	0
6.125% Senior Secured Notes due 2025 \| Senior Notes
Debt Instrument [Line Items]
Interest rate					6.125%
Loss on extinguishment of 6.125% Senior Secured Notes	$ 0	$ 0	$ 8,349

Investment Securities (Narrative) (Details)	12 Months Ended
Investment Securities (Narrative) (Details)	Dec. 31, 2023 USD ($) investment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Securities, Available-for-sale [Line Items]
Long-term investments	$ 46,760,000	$ 44,959,000
Proceeds from sale or liquidation of long-term investments	5,530,000	9,266,000	$ 11,509,000
In-transit redemptions	88,000
Proceeds from long-term equity method investment	55,000
Investment	$ 5,000,000
Number of investments not qualify for the NAV practical expedient \| investment	2,000
Equity securities and other long-term investments at cost	$ 7,555,000	2,755,000
Impairment or other adjustments related to observable price changes	$ 0	0	0
Dividends received		51,000
Proceeds from long-term equity method investment, gross			50,000
Mutual fund and hedge funds \| Minimum
Debt Securities, Available-for-sale [Line Items]
Equity method ownership percentage	7.54%
Mutual fund and hedge funds \| Maximum
Debt Securities, Available-for-sale [Line Items]
Equity method ownership percentage	38.67%
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Unfunded commitments
Debt Securities, Available-for-sale [Line Items]
Long-term investments	$ 303,000
NAV
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale or liquidation of long-term investments	$ 5,330,000	$ 4,971,000	11,509,000
Proceeds from long-term equity method investment			$ 11,642,000

Contingencies (Overview and Bonds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liggett
Loss Contingencies [Line Items]
Tobacco product liability legal expenses and costs	$ 8,612	$ 8,031	$ 6,256

Investments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Company's Recurring Financial Assets and Liabilities Subject to Fair Value Measurements

The Company’s financial assets and liabilities subject to fair value measurements were as follows:


	Fair Value Measurements as of December 31, 2023
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (1)	$	214,515	$	214,515	$	—	$	—

Commercial paper (1)	52,287		—		52,287		—





Investment securities at fair value
Equity securities at fair value
Marketable equity securities	14,286		14,286		—		—
Mutual funds invested in debt securities	23,424		23,424		—		—
Total equity securities at fair value	37,710		37,710		—		—
Debt securities available for sale
U.S. government securities	38,657		—		38,657		—
Corporate securities	12,042		—		12,042		—
U.S. government and federal agency	17,358		—		17,358		—


Commercial paper	5,168		—		5,168		—
Index-linked U.S. bonds	—		—		—		—

Total debt securities available for sale	73,225		—		73,225		—

Total investment securities at fair value	110,935		37,710		73,225		—

Long-term investments
Long-term investment securities at fair value (2)	29,402		—		—		—

Total	$	407,139	$	252,225	$	125,512	$	—

_____________________________

(1)Amounts included in Cash and cash equivalents on the consolidated balance sheets.

(2)In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.


	Fair Value Measurements as of December 31, 2022
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (1)	$	155,411	$	155,411	$	—	$	—

Commercial paper (1)	54,526		—		54,526		—



Money market funds securing legal bonds (2)	24,000		24,000		—		—

Investment securities at fair value
Equity securities at fair value
Marketable equity securities	12,724		12,724		—		—
Mutual funds invested in debt securities	22,069		22,069		—		—
Total equity securities at fair value	34,793		34,793		—		—
Debt securities available for sale
U.S. government securities	779		—		779		—
Corporate securities	53,814		—		53,814		—
U.S. government and federal agency	27,050		—		27,050		—





Total debt securities available for sale	81,643		—		81,643		—

Total investment securities at fair value	116,436		34,793		81,643		—

Long-term investments
Long-term investment securities at fair value (3)	28,919		—		—		—
Total	$	379,292	$	214,204	$	136,169	$	—

_____________________________

(1)Amounts included in Cash and cash equivalents on the consolidated balance sheets.

(2)Amounts included in Other assets on the consolidated balance sheets.

(3)In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Schedule of Investment in Real Estate Ventures Subject to Nonrecurring Fair Value Measurements

The Company’s investment in real estate ventures subject to nonrecurring fair value measurements are as follows:


			Fair Value Measurement Using:
	Year Ended December 31, 2023				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description	Impairment Charge		Total

Assets:
Investments in real estate ventures	$	1,202	$	—	$	—	$	—	$	—


			Fair Value Measurement Using:
	Year Ended December 31, 2022				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description	Impairment Charge		Total

Assets:
Investments in real estate ventures	$	490	$	—	$	—	$	—	$	—

Contingencies (Other State Settlements) (Details) - MSA	1 Months Ended		12 Months Ended			25 Months Ended
Contingencies (Other State Settlements) (Details) - MSA	Aug. 31, 2023 USD ($)	Jan. 31, 2016 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2003 USD ($)	Mar. 31, 1998 USD ($) state
Loss Contingencies [Line Items]
Annual payment requirement						$ 9,000,000,000
Liggett
Loss Contingencies [Line Items]
Number of states not included in settlement agreement \| state						4
Liggett \| Minnesota
Loss Contingencies [Line Items]
Annual payment requirement			$ 1,000,000		$ 100,000
Years annual payments required					10 years
Liggett \| Florida
Loss Contingencies [Line Items]
Annual payment requirement				$ 250,000
Amount of litigation settlement awarded to other party				$ 1,200,000
Liggett \| Mississippi
Loss Contingencies [Line Items]
Damages sought		$ 27,000,000
Damages awarded	$ 18,000,000

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Ownership percentage of subsidiaries included in tax return (more than 80%)	80.00%
Various U.S. federal and state tax loss carryforwards	$ 1,284	$ 1,828
Valuation allowance	552	550
Unrecognized tax benefits	2,998	3,267	$ 2,209	$ 1,653
Unrecognized tax benefits interest and penalties	628	$ 699
Reasonably possible amount recognized over next 12 months	$ 331

Investment Securities (Components of Investment Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Debt securities available for sale	$ 73,225	$ 81,643
Long-term investment securities at fair value	29,402	28,919
Total equity securities at fair value	67,112	63,712
Total investment securities at fair value	140,337	145,355
Current investment securities at fair value	110,935	116,436
Equity-method investments	17,358	16,040
Total long-term investments	46,760	44,959
Equity securities and other long-term investments at cost	7,555	2,755
Marketable equity securities
Debt and Equity Securities, FV-NI [Line Items]
Equity securities at fair value:	14,286	12,724
Mutual funds invested in debt securities
Debt and Equity Securities, FV-NI [Line Items]
Equity securities at fair value:	$ 23,424	$ 22,069

Consolidated Statement of Stockholders' Deficiency - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance (in shares)	154,840,902
Beginning Balance	$ (807,877)	$ (841,553)	$ (659,687)
Net income	183,526	158,701	219,273
Total other comprehensive income (loss)	3,160	(350)	5,351
Comprehensive income	186,686	158,351	224,624
Distributions and dividends on common stock	(127,029)	(127,003)	(126,371)
Restricted stock grants	0	0	0
Withholding of shares as payment of payroll tax liabilities in connection with restricted stock vesting and exercise of stock options	(3,177)	$ (2,668)	$ (3,563)
Withholding of shares as payment of payroll tax liabilities in connection with stock option exercise	$ (12,633)
Exercise of stock options (in shares)	1,055,315	0	0
Exercise of stock options	$ 12,105
Stock-based compensation	$ 10,111	$ 7,848	$ 14,799
Acquisition of subsidiary			500
Contributions from non-controlling interest			1,625
Distribution of Douglas Elliman Inc.		0	(293,480)
Other		$ (2,852)
Ending Balance (in shares)	154,840,902	154,840,902
Ending Balance	$ (741,814)	$ (807,877)	$ (841,553)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance (in shares)	154,840,902	153,959,427	153,324,629
Beginning Balance	$ 15,484	$ 15,396	$ 15,332
Restricted stock grants (in shares)	1,335,000	1,115,000	873,500
Restricted stock grants	$ 134	$ 111	$ 88
Withholding of shares as payment of payroll tax liabilities in connection with restricted stock vesting and exercise of stock options (in shares)	(240,948)	(233,525)	(238,702)
Withholding of shares as payment of payroll tax liabilities in connection with restricted stock vesting and exercise of stock options	$ (25)	$ (23)	$ (24)
Withholding of shares as payment of payroll tax liabilities in connection with stock option exercise (in shares)	(1,012,249)
Withholding of shares as payment of payroll tax liabilities in connection with stock option exercise	$ (101)
Exercise of stock options (in shares)	1,055,315
Exercise of stock options	$ 106
Ending Balance (in shares)	155,978,020	154,840,902	153,959,427
Ending Balance	$ 15,598	$ 15,484	$ 15,396
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	5,092	11,172	0
Restricted stock grants	(134)	(111)	(88)
Withholding of shares as payment of payroll tax liabilities in connection with restricted stock vesting and exercise of stock options	(3,152)	(2,645)	(3,539)
Withholding of shares as payment of payroll tax liabilities in connection with stock option exercise	(12,532)
Exercise of stock options	11,999
Stock-based compensation	10,111	7,848	14,799
Distribution of Douglas Elliman Inc.		(11,172)
Ending Balance	11,384	5,092	11,172
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(812,380)	(852,398)	(653,945)
Net income	183,526	158,701	219,463
Distributions and dividends on common stock	(127,029)	(127,003)	(126,371)
Distribution of Douglas Elliman Inc.		11,172	(291,545)
Other		(2,852)
Ending Balance	(755,883)	(812,380)	(852,398)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(16,073)	(15,723)	(21,074)
Total other comprehensive income (loss)	3,160	(350)	5,351
Ending Balance	(12,913)	(16,073)	(15,723)
Non-controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	0	0	0
Net income			(190)
Acquisition of subsidiary			500
Contributions from non-controlling interest			1,625
Distribution of Douglas Elliman Inc.			(1,935)
Ending Balance	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies (Stock Options and Awards and Revenue Recognition and Advertising Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Tax on payments of dividend equivalent rights		$ 3,463	$ 4,239	$ 3,832
Segment Reporting Information [Line Items]
Timing of revenue and collections		Revenue from cigarette sales, which include federal excise taxes billed to customers, are recognized upon shipment of cigarettes when control has passed to the customer. Average collection terms for Tobacco sales range between three and twelve days from the time that the cigarettes are shipped to the customer.
Shipping and handling fees and costs		$ 965,348	998,658	769,542
Escena \| New Valley
Segment Reporting Information [Line Items]
Sale of project	$ 15,300
Tobacco and E-Cigarettes
Segment Reporting Information [Line Items]
Advertising costs		5,227	4,748	4,464
Shipping and Handling
Segment Reporting Information [Line Items]
Shipping and handling fees and costs		$ 8,453	$ 8,747	$ 7,006

Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consisted of:


	December 31, 2023		December 31, 2022
Leaf tobacco	$	46,190	$	39,893
Other raw materials	9,372		8,808
Work-in-process	814		798
Finished goods	65,295		64,865

Inventories at current cost	121,671		114,364
LIFO adjustments:
Leaf tobacco	(19,941)		(15,213)
Other raw materials	(2,411)		(1,220)
Work-in-process	(105)		(25)
Finished goods	(7,255)		(5,458)
Total LIFO adjustments	(29,712)		(21,916)
	$	91,959	$	92,448

All inventories as of December 31, 2023 and 2022 were reported under the LIFO method. Cost of sales was reduced by $576 and $3,248 for the years ended December 31, 2023 and December 31, 2022, respectively, due to liquidations of LIFO inventories.

The amount of capitalized MSA cost in “Finished goods” inventory was $22,988 and $23,084 as of December 31, 2023 and 2022, respectively. Federal excise tax capitalized in inventory was $25,151 and $26,423 as of December 31, 2023 and 2022, respectively.

As of December 31, 2023, Liggett had tobacco purchase commitments of approximately $31,508. Liggett has a single source supply agreement for reduced ignition propensity cigarette paper through December 2025.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Long-term investments, fair value	$ 29,402	$ 28,919
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)	$ 0.1	$ 0.1
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	155,978,020	155,978,020
Common stock, shares outstanding (in shares)	154,840,902	154,840,902

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Net Income for Purposes of Determining Basic and Diluted EPS

Net income for purposes of determining basic EPS for discontinued operations and net income available to common stockholders attributed to Vector Group Ltd. were as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154
Net income attributed to Vector Group Ltd. from discontinued operations	—		—		72,309
Net income attributed to Vector Group Ltd.	183,526		158,701		219,463
Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(5,862)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	213,601

Net income for purposes of determining basic EPS for continuing operations applicable to common shares attributed to Vector Group Ltd. was as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154
Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(3,694)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	143,460

Net income for purposes of determining diluted EPS for discontinued operations and net income available to common stockholders attributed to Vector Group Ltd. were as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154
Net income attributed to Vector Group Ltd. from discontinued operations	—		—		72,309
Net income attributed to Vector Group Ltd.	183,526		158,701		219,463

Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(5,862)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	213,601

Net income for purposes of determining diluted EPS for continuing operations applicable to common shares attributed to Vector Group Ltd. was as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154

Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(3,694)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	143,460

Schedule of Basic and Diluted EPS Calculation Shares

Basic and diluted EPS for continuing and discontinued operations were calculated using the following common shares for the years ended December 31, 2023, 2022 and 2021:


	For the year ended December 31,
	2023	2022	2021
Weighted-average shares for basic EPS	153,196,070	152,752,874	152,403,072

Incremental shares related to stock options and non-vested restricted stock	134,718	141,977	71,777

Weighted-average shares for diluted EPS	153,330,788	152,894,851	152,474,849

Schedule of Outstanding Shares Not Included in the Computation of Diluted EPS

The following non-vested restricted stock was outstanding during the years ended December 31, 2023, 2022 and 2021, respectively, but was not included in the computation of diluted EPS because the impact of the per-share expense associated with the non-vested restricted stock was greater than the average market price of the common shares during the respective periods.


	Year Ended December 31,
	2023		2022		2021


Weighted-average shares of non-vested restricted stock	—		1,973		524,606
Weighted-average expense per share	$	—	$	11.23	$	17.42

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

As discussed in Note 14, the Company has stock option awards and restricted stock awards which provide for common stock dividend equivalents at the same rate as paid on the common stock with respect to the shares underlying the unexercised portion of the options. These outstanding options and restricted stock awards represent participating securities under authoritative guidance. The Company recognizes payments of the dividend equivalent rights ($3,463, $4,239, and $3,832, for the years ended December 31, 2023, 2022 and 2021, respectively) on these options and restricted stock awards as reductions in additional paid-in-capital on the Company’s consolidated balance sheets. Income from continuing operations attributable to participating securities represent the undistributed earnings allocated to the participating securities using the two-class method permitted by U.S. GAAP for computing diluted earnings per share (“EPS”). The Company included the income tax benefit associated with the dividend equivalent rights as a component of income tax expense due to the adoption of ASU 2016-09. As a result, in its calculation of basic EPS for the years ended December 31, 2023, 2022 and 2021, respectively, the Company has adjusted its net income for the effect of these participating securities as follows:

Net income for purposes of determining basic EPS for discontinued operations and net income available to common stockholders attributed to Vector Group Ltd. were as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154
Net income attributed to Vector Group Ltd. from discontinued operations	—		—		72,309
Net income attributed to Vector Group Ltd.	183,526		158,701		219,463
Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(5,862)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	213,601

Net income for purposes of determining basic EPS for continuing operations applicable to common shares attributed to Vector Group Ltd. was as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154
Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(3,694)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	143,460

Basic EPS is computed by dividing net income available to common stockholders attributed to Vector Group Ltd. by the weighted-average number of shares outstanding, which includes vested restricted stock.

Net income for purposes of determining diluted EPS for discontinued operations and net income available to common stockholders attributed to Vector Group Ltd. were as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154
Net income attributed to Vector Group Ltd. from discontinued operations	—		—		72,309
Net income attributed to Vector Group Ltd.	183,526		158,701		219,463

Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(5,862)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	213,601

Net income for purposes of determining diluted EPS for continuing operations applicable to common shares attributed to Vector Group Ltd. was as follows:


	For the year ended December 31,
	2023		2022		2021
Net income attributed to Vector Group Ltd. from continuing operations	$	183,526	$	158,701	$	147,154

Income from continuing operations attributable to participating securities	(5,005)		(4,947)		(3,694)
Net income available to common stockholders attributed to Vector Group Ltd.	$	178,521	$	153,754	$	143,460

Basic and diluted EPS for continuing and discontinued operations were calculated using the following common shares for the years ended December 31, 2023, 2022 and 2021:


	For the year ended December 31,
	2023	2022	2021
Weighted-average shares for basic EPS	153,196,070	152,752,874	152,403,072

Incremental shares related to stock options and non-vested restricted stock	134,718	141,977	71,777

Weighted-average shares for diluted EPS	153,330,788	152,894,851	152,474,849

It may not be possible to recalculate EPS attributable to common stockholders by adjusting EPS from continuing operations by EPS from discontinued operations as each amount is calculated independently.


	Year Ended December 31,
	2023		2022		2021


Weighted-average shares of non-vested restricted stock	—		1,973		524,606
Weighted-average expense per share	$	—	$	11.23	$	17.42

Investment Securities

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

Investment securities consisted of the following:


	December 31, 2023		December 31, 2022
Debt securities available for sale	$	73,225	$	81,643


Equity securities at fair value:
Marketable equity securities	14,286		12,724
Mutual funds invested in debt securities	23,424		22,069
Long-term investment securities at fair value (1)	29,402		28,919
Total equity securities at fair value	67,112		63,712

Total investment securities at fair value	140,337		145,355
Less:
Long-term investment securities at fair value (1)	29,402		28,919
Current investment securities at fair value	$	110,935	$	116,436

Long-term investment securities at fair value (1)	$	29,402	$	28,919
Equity-method investments	17,358		16,040
Total long-term investments	$	46,760	$	44,959

Equity securities and other long-term investments at cost (2)	$	7,555	$	2,755

_____________________________

(1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820.

(2) These assets are without readily determinable fair values that do not qualify for the NAV practical expedient and are included in Other assets on the consolidated balance sheets.

Net gains (losses) recognized on investment securities were as follows:


	Year Ended December 31,
	2023		2022		2021
Net gains (losses) recognized on equity securities	$	3,045	$	(5,011)	$	9,615
Net (losses) gains recognized on debt and equity securities available for sale	(159)		6		45

Impairment expense	(292)		(2,975)		(276)




Net gains (losses) recognized on investment securities	$	2,594	$	(7,980)	$	9,384

(a) Debt Securities Available for Sale:

The components of debt securities available for sale as of December 31, 2023 were as follows:


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value


Marketable debt securities	$	72,939	$	286	$	—	$	73,225

The table below summarizes the maturity dates of debt securities available for sale as of December 31, 2023.


Investment Type:	Fair Value		Under 1 Year		1 Year up to 5 Years		More than 5 Years
U.S. Government securities	$	38,657	$	9,647	$	29,010	$	—
Corporate securities	12,042		12,042		—		—
U.S. mortgage-backed securities	17,358		15,724		1,634		—


Commercial paper	5,168		5,168		—		—


Total debt securities available for sale by maturity dates	$	73,225	$	42,581	$	30,644	$	—

The components of debt securities available for sale as of December 31, 2022 were as follows:


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value


Marketable debt securities	$	81,629	$	14	$	—	$	81,643

There were no available-for-sale debt securities with continuous unrealized losses for less than 12 months and 12 months or greater as of December 31, 2023 and 2022, respectively.

Gross realized gains and losses recognized on debt securities available for sale were as follows:


	Year Ended December 31,
	2023		2022		2021
Gross realized gains on sales	$	26	$	8	$	108
Gross realized losses on sales	(185)		(2)		(63)
Net (losses) gains recognized on debt securities available for sale	$	(159)	$	6	$	45

Impairment expense	$	(292)	$	(2,975)	$	(276)

Although management 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.

(b) Equity Securities at Fair Value:

The following is a summary of unrealized and realized net gains and losses recognized in net income on equity securities at fair value for the years ended December 31, 2023, 2022 and 2021, respectively:


	Year Ended December 31,
	2023		2022		2021
Net gains (losses) recognized on equity securities	$	3,045	$	(5,011)	$	9,615
Less: Net (losses) gains recognized on equity securities sold	(1,289)		1,198		7,534
Net unrealized gains (losses) recognized on equity securities still held at the reporting date	$	4,334	$	(6,209)	$	2,081

The Company’s investments in mutual funds that invest in debt securities are classified as Level 1 under the fair value hierarchy disclosed in Note 18. Their fair values are based on quoted prices for identical assets in active markets or inputs that are based upon quoted prices for similar instruments in active markets. The Company has unfunded commitments of $303 related to long-term investment securities at fair value as of December 31, 2023.

The Company received $5,330 of cash distributions for the year ended December 31, 2023, all of which were classified as investing cash inflows. The company recorded $88 of in-transit redemptions as of December 31, 2023. The Company received $4,971 of cash distributions for the year ended December 31, 2022, all of which were classified as investing cash inflows. The Company received $11,642 of cash distributions for the year ended December 31, 2021, of which $11,509 were classified as investing cash inflows.

(c) Equity Securities and Other Long-Term Investments Without Readily Determinable Fair Values That Do Not Qualify for the NAV Practical Expedient

Equity securities and other long-term investments without readily determinable fair values that do not qualify for the NAV practical expedient consisted of profit participation agreements and investments in various limited liability companies. During the year ended December 31, 2023, the Company invested $5,000 into two additional investments, which do not qualify for the NAV practical expedient. The total carrying value of these investments that do not qualify for the NAV practical expedient was $7,555 as of December 31, 2023 and $2,755 as of December 31, 2022, and was included in “Other assets” on the consolidated balance sheets. No impairment or other adjustments related to observable price changes in orderly transactions for identical or similar investments were identified for the years ended December 31, 2023, 2022 and 2021, respectively.

(d) Equity-Method Investments:

Equity-method investments consisted of the following:


	December 31, 2023		December 31, 2022
Mutual and hedge funds	$	17,358	$	16,040

As of December 31, 2023, the Company’s ownership percentages in the mutual fund and hedge funds accounted for under the equity method ranged from 7.54% to 38.67%. The Company’s ownership percentage in these investments meets the threshold for equity-method accounting.

Equity in earnings (losses) from investments were:


	Year Ended December 31,
	2023		2022		2021
Mutual fund and hedge funds	$	1,262	$	(4,995)	$	2,675

The Company received $55, $51 and $50 in dividends from one of its equity-method investments that were reinvested back into the fund in 2023, 2022 and 2021, respectively.

(e) Combined Financial Statements for Unconsolidated Subsidiaries Accounted for on Equity Method

Pursuant to Rule 4-08(g), the following summarized financial data for unconsolidated subsidiaries includes information for the mutual fund and hedge funds.


	Year Ended December 31,
	2023		2022		2021
Investment income	$	4,713	$	3,209	$	1,574
Expenses	10,585		13,272		12,873
Net investment loss	(5,872)		(10,063)		(11,299)
Total net realized gain (loss) and net change in unrealized depreciation from investments	4,824		(84,466)		48,342
Net (decrease) increase in partners’ capital resulting from operations	$	(1,048)	$	(94,529)	$	37,043


	December 31, 2023		December 31, 2022
Investment securities	$	290,916	$	299,389
Cash and cash equivalents	695		2,860
Other assets	38,471		87,507
Total assets	$	330,082	$	389,756

Other liabilities	$	159,858	$	159,246
Total liabilities	159,858		159,246
Partners’ capital	170,224		230,510
Total liabilities and partners’ capital	$	330,082	$	389,756

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

VECTOR GROUP LTD.

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

(Dollars in Thousands)


Description	Balance at Beginning of Period		Additions Charged to Costs and Expenses		Deductions		Balance at End of Period
Year Ended December 31, 2023
Allowances for:

Cash discounts	$	838	$	33,727	$	34,017	$	548
Deferred tax valuation allowance	550		2		—		552
Sales returns	7,526		8,063		2,914		12,675
Total	$	8,914	$	41,792	$	36,931	$	13,775
Year Ended December 31, 2022
Allowances for:

Cash discounts	$	326	$	33,748	$	33,236	$	838
Deferred tax valuation allowance	348		202		—		550
Sales returns	6,669		3,422		2,565		7,526
Total	$	7,343	$	37,372	$	35,801	$	8,914
Year Ended December 31, 2021
Allowances for:

Cash discounts	$	334	$	28,663	$	28,671	$	326
Deferred tax valuation allowance	852		—		504		348
Sales returns	7,356		2,439		3,126		6,669
Total	$	8,542	$	31,102	$	32,301	$	7,343

Investment Securities (Equity in Earnings of Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses) from investments	$ 1,262	$ (4,995)	$ 2,675
Mutual fund and hedge funds
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses) from investments	$ 1,262	$ (4,995)	$ 2,675

Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCIES

Tobacco-Related Litigation:

Overview. Since 1954, Liggett and other U.S. 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”). The future financial impact of the risks and expenses of litigation are not quantifiable. For the years ended December 31, 2023, 2022 and 2021, Liggett incurred tobacco product liability legal expenses and costs totaling $8,612, $8,031, and $6,256, respectively. Legal defense costs are expensed as incurred.

Litigation is subject to uncertainty and it is possible that there could be adverse developments in pending cases. With the commencement of new cases, the defense costs and the risks relating to the unpredictability of litigation increase. 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. As of December 31, 2023, there are no litigation bonds posted.

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 discussed in this Note 15: (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.

Although Liggett has generally been successful in managing the litigation filed against it, litigation is subject to uncertainty and significant challenges remain. 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. All such cases are and will continue to be vigorously defended. 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. 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.

Individual Actions

As of December 31, 2023, there were 70 Individual Actions pending against Liggett, 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. The following table lists the number of Individual Actions by state:


State						Number of Cases

Massachusetts						33
Illinois						17
Florida						10
Nevada						4
Louisiana						2
Hawaii						1

California						1
New Mexico						1
Alabama						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, statute of repose, equitable defenses such as “unclean hands” and lack of benefit, failure to state a claim and federal preemption.

Engle Progeny Cases

In May 1994, the Engle case was filed as a class action 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.” A trial was held and the jury returned a verdict adverse to the defendants (approximately $145,000,000 in punitive damages, including $790,000 against Liggett). Following an appeal to the Third District Court of Appeal, the Florida Supreme Court in July 2006 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 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.

Cautionary Statement About Engle Progeny Cases. Since 2009, judgments have been entered against Liggett and other cigarette manufacturers in Engle progeny cases. A number of the judgments were affirmed on appeal and satisfied by the defendants. Many were overturned on appeal. As of December 31, 2023, 25 Engle progeny cases where Liggett was a defendant at trial resulted in verdicts.

There have been 16 verdicts returned in favor of the plaintiffs and nine in favor of Liggett. In five of the cases, punitive damages were awarded against Liggett. Several of the adverse verdicts were overturned on appeal and new trials were ordered. In certain cases, the judgments were entered jointly and severally with other defendants and Liggett faces 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. Except as discussed in this Note 15, 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, except as discussed herein and, in most of the remaining cases, discovery has not occurred or is limited. As a result, the Company lacks information about whether plaintiffs are in fact Engle class members, 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 the amount of their demand for damages.

Engle Progeny Settlements.

In October 2013, the Company and Liggett 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 $110,000, with $61,600 paid in an initial lump sum and the balance to be paid in installments over 14 years starting in February 2015. The Company’s future payments will be approximately $4,000 per annum through 2028, including an annual cost of living increase that began in 2021. In exchange, the claims of these plaintiffs were dismissed with prejudice against the Company and Liggett.

Liggett subsequently entered into two separate settlement agreements with a total of 152 Engle progeny plaintiffs where Liggett paid a total of $23,150 and individually, Liggett settled an additional 214 Engle progeny cases for approximately $8,400.

As of December 31, 2023, 14 Engle progeny cases remain pending in state court. Therefore, the Company and Liggett may still be subject to periodic adverse judgments which could have a material adverse effect on the Company’s consolidated financial position, results of operations and cash flows.

Judgments Paid in Engle Progeny Cases.

As of December 31, 2023, Liggett paid in the aggregate $40,111, including interest and attorneys’ fees, to satisfy the judgments in the following Engle progeny cases: Lukacs, Campbell, Douglas, Clay, Tullo, Ward, Rizzuto, Lambert, Buchanan and Santoro.

Liggett Only Cases

As of December 31, 2023, there were five cases pending where Liggett is the sole defendant: Cowart, Cunningham, Siler and Watson are Individual Actions and Forbing is an Engle progeny case. It is possible that cases where Liggett is the only defendant could increase.

Upcoming Trials

As of December 31, 2023, there were four Individual Actions (Kanuha, Lane, Sandler and Taylor) scheduled for trial through December 31, 2024, where Liggett is a named defendant. Trial dates are subject to change and additional cases could be set for trial during this time.

City of Baltimore

In December 2022, the Mayor and City Council of Baltimore sued Liggett and others, claiming, among other things, that defendants’ failure to use biodegradable filters on their cigarette products resulted in littering by smokers of the city’s streets, sidewalks, beaches, parks, lawns and waterways, which in turn resulted in contamination of the soil and water, increased costs of clean-up and disposal of this litter, as well as the reduction of property values and tourism to the city. Plaintiffs seek compensatory damages, punitive damages, penalties, fines, disgorgement of profits and equitable relief.

Class Actions

As of December 31, 2023, two 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 two cases.

In November 1997, in Young v. American Tobacco Co., a purported class action was brought on behalf of plaintiff and all similarly situated residents in Louisiana who, though not themselves cigarette smokers, allege they were exposed to and suffered injury from secondhand smoke from cigarettes. The plaintiffs seek an unspecified amount of compensatory and punitive damages. The case has been stayed since March 2016 pending completion of the smoking cessation program ordered by the court in Scott v. The American Tobacco Co.

In February 1998, in Parsons v. AC & S Inc., a purported class action was brought on behalf of plaintiff and all West Virginia residents who allegedly have claims arising from their exposure to cigarette smoke and asbestos fibers and seeks compensatory and punitive damages. The case has been stayed since December 2000 as a result of bankruptcy petitions filed by three co-defendants.

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.

Health Care Cost Recovery Actions

As of December 31, 2023, one Health Care Cost Recovery Action was pending against Liggett where the plaintiff seeks to recover damages from Liggett and other cigarette manufacturers based on various theories of recovery as a result of alleged sales of tobacco products to minors. The case is dormant.

The claims asserted in health care cost recovery actions vary, but can include the equitable claim of indemnity, common law claims of negligence, strict liability, breach of express and implied warranty, breach of special duty, fraud, negligent misrepresentation, conspiracy, public nuisance, claims under state and federal statutes governing consumer fraud, antitrust, deceptive trade practices and false advertising, and claims under RICO. Although no specific damage amounts are typically pleaded, it is possible that requested damages might be in billions of dollars. In these cases, plaintiffs have asserted equitable claims that the tobacco industry was “unjustly enriched” by their payment of health care costs allegedly attributable to smoking and seek reimbursement of those costs. Relief sought by some, but not all, plaintiffs include punitive damages, multiple damages and other statutory damages and penalties, injunctions prohibiting alleged marketing and sales to minors, disclosure of research, disgorgement of profits, funding of anti-smoking programs, additional disclosure of nicotine yields, and payment of attorney and expert witness fees.

MSA and Other State Settlement Agreements

In March 1996, March 1997 and March 1998, Liggett entered into settlements of smoking-related litigation with 45 states and territories. The settlements released Liggett from all smoking-related claims made by those states and territories, including claims for health care cost reimbursement and claims concerning sales of cigarettes to minors.

In November 1998, Philip Morris, R.J. Reynolds and two other companies (the “Original Participating Manufacturers” or “OPMs”) and Liggett and Vector Tobacco (together with any other tobacco product manufacturer that becomes a signatory, the “Subsequent Participating Manufacturers” or “SPMs”) (the OPMs and SPMs are hereinafter referred to jointly as “PMs”) entered into the Master Settlement Agreement (the “MSA”) with 46 states, the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa and the Northern Mariana Islands (collectively, the “Settling States”) to settle the asserted

and unasserted health care cost recovery and certain other claims of the Settling States. The MSA received final judicial approval in each Settling State.

As a result of the MSA, the Settling States released Liggett and Vector Tobacco from:

•all claims of the Settling States and their respective political subdivisions and other recipients of state health care funds, relating to: (i) past conduct arising out of the use, sale, distribution, manufacture, development, advertising and marketing of tobacco products; (ii) the health effects of the exposure to, or research, statements or warnings about, tobacco products; and

•all monetary claims of the Settling States and their respective subdivisions and other recipients of state health care funds relating to future conduct arising out of the use of, or exposure to, tobacco products that have been manufactured in the ordinary course of business.

The MSA restricts tobacco product advertising and marketing within the Settling States and otherwise restricts the activities of PMs. Among other things, the MSA prohibits the targeting of youth in the advertising, promotion or marketing of tobacco products; bans the use of cartoon characters in all tobacco advertising and promotion; limits each PM to one tobacco brand name sponsorship during any 12-month period; bans all outdoor advertising, with certain limited exceptions; prohibits payments for tobacco product placement in various media; bans gift offers based on the purchase of tobacco products without sufficient proof that the intended recipient is an adult; prohibits PMs from licensing third parties to advertise tobacco brand names in any manner prohibited under the MSA; and prohibits PMs from using as a tobacco product brand name any nationally recognized non-tobacco brand or trade name or the names of sports teams, entertainment groups or individual celebrities.

The MSA also requires PMs to affirm corporate principles to comply with the MSA and to reduce underage use of tobacco products and imposes restrictions on lobbying activities conducted on behalf of PMs. In addition, the MSA provides for the appointment of an independent auditor to calculate and determine the amounts of payments owed pursuant to the MSA.

Under the payment provisions of the MSA, PMs are required to make annual payments of $9,000,000 (subject to applicable adjustments, offsets and reductions including a “Non-Participating Manufacturers Adjustment” or “NPM Adjustment”). These annual payments are allocated based on unit volume of domestic cigarette shipments. The payment obligations under the MSA are the several, and not joint, obligations of each PM and are not the responsibility of any parent or affiliate of a PM.

Liggett has no payment obligations under the MSA except to the extent its market share exceeds a market share exemption of approximately 1.65% of total cigarettes sold in the U.S. Vector Tobacco has no payment obligations under the MSA except to the extent its market share exceeds a market share exemption of approximately 0.28% of total cigarettes sold in the U.S. Liggett and Vector Tobacco’s domestic shipments accounted for approximately 5.5% of the total cigarettes sold in the U.S. in 2023. If Liggett’s or Vector Tobacco’s market share exceeds their respective market share exemption in a given year, then on April 15 of the following year, Liggett and/or Vector Tobacco must pay on each excess unit an amount equal (on a per-unit basis) to that due from the OPMs for that year. On December 28, 2023, Liggett and Vector Tobacco pre-paid $263,000 of their approximate $272,000 2023 MSA obligation. The remaining balance of $9,000 will be paid in April 2024.

Certain MSA Disputes

NPM Adjustment. Liggett and Vector Tobacco contend that they are entitled to an NPM Adjustment for 2003 - 2023. The NPM Adjustment is a potential adjustment to annual MSA payments, available when PMs suffer a market share loss to NPMs for a particular year and an economic consulting firm selected pursuant to the MSA determines (or the parties agree) that the MSA was a “significant factor contributing to” that loss. A Settling State that has “diligently enforced” its qualifying escrow statute in the year in question may be able to avoid its allocable share of the NPM Adjustment. For 2003 - 2023, Liggett and Vector Tobacco, as applicable, disputed that they owed the Settling States the NPM Adjustments as calculated by the independent auditor. As permitted by the MSA, Liggett and Vector Tobacco either paid subject to dispute, withheld payment, or paid into a disputed payment account, the amounts associated with these NPM Adjustments.

To date, the PMs have settled the NPM Adjustment dispute with 40 states representing approximately 81% of the MSA allocable share. As a result of the settlements described above, for the years ended December 31, 2023, 2022 and 2021, Liggett and Vector Tobacco reduced cost of sales by $14,809, $12,278 and $7,896, respectively. Liggett and Vector Tobacco may be entitled to further adjustments. As of December 31, 2023, Liggett and Vector Tobacco had accrued approximately $8,700 related to the disputed amounts withheld from the non-settling states for 2005 - 2010, which may be subject to payment, with interest, if Liggett and Vector Tobacco lose the disputes for those years.

The 2004 NPM Adjustment arbitration with the non-settling states commenced in 2016, with the arbitration panel finding three states liable for the NPM Adjustment. Two of these states filed motions challenging these determinations and several issues remain to be resolved by the arbitration panels that will affect the final amount of the 2004 NPM Adjustment. Individual state hearings with respect to the NPM Adjustments for 2005 - 2007 are ongoing with the non- settling states.

Other State Settlements. The MSA replaced Liggett’s prior settlements with all states and territories except for Florida, Mississippi, Texas and Minnesota. Each of these four states, prior to the effective date of the MSA, negotiated and executed settlement agreements with each of the other major tobacco companies, separate from those settlements reached previously with Liggett. Except as described below, Liggett’s agreements with these states remain in full force and effect. These states’ settlement agreements with Liggett contained most favored nation provisions which could reduce Liggett’s payment obligations based on subsequent settlements or resolutions by those states with certain other tobacco companies. Beginning in 1999, Liggett determined that, based on settlements or resolutions with U.S. Tobacco Company, Liggett’s payment obligations to those four states were eliminated. With respect to all non-economic obligations under the previous settlements, Liggett believes it is entitled to the most favorable provisions as between the MSA and each state’s respective settlement with the other major tobacco companies. Therefore, Liggett’s non-economic obligations to all states and territories are now defined by the MSA.

In 2003, as a result of a dispute with Minnesota Liggett agreed to pay $100 a year in any year cigarettes manufactured by Liggett sold in that state, through 2022. In 2023, Minnesota and Liggett agreed to amend that agreement with Liggett agreeing to pay $1,000 per year for an additional ten years. In 2010, Liggett resolved the dispute with Florida and agreed to pay $1,200 and to make annual payments of $250 through 2032, with the payments in 2022 through the duration of the agreement subject to an inflation adjustment.

In January 2016, the Attorney General for Mississippi filed a motion in Chancery Court in Jackson County, Mississippi to enforce the March 1996 settlement agreement among Liggett, Mississippi and other states alleging that Liggett owed Mississippi at least $27,000 in compensatory damages plus interest, attorneys’ fees and punitive damages. In August 2023, Liggett resolved the dispute with Mississippi for payment of $18,000.

Cautionary Statement

Management is not able to reasonably predict the outcome of the litigation pending or threatened against Liggett or the Company. Litigation is subject to many uncertainties. Liggett has been found liable in multiple Engle progeny cases and Individual Actions, several of which were affirmed on appeal and satisfied by Liggett. It is possible that other cases could be decided unfavorably against Liggett and that Liggett will be unsuccessful on appeal. Liggett may attempt to settle particular cases if it believes it is in its best interest to do so.

Management cannot predict the cash requirements related to any future defense costs, settlements or judgments, including cash required to bond any appeals, and there is a risk that Liggett may not be able to meet those requirements. An unfavorable outcome of a pending smoking-related case could encourage the commencement of additional litigation. Except as discussed in this Note 15, management is unable to estimate the loss or range of loss that could result from an unfavorable outcome of the cases pending against Liggett or the costs of defending such cases and as a result has not provided any amounts in its consolidated financial statements for unfavorable outcomes.

The tobacco industry is subject to a wide range of laws and regulations regarding the marketing, sale, taxation and use of tobacco products imposed by local, state and federal governments. There have been a number of restrictive regulatory actions, adverse legislative and political decisions and other unfavorable developments concerning cigarette smoking and the tobacco industry. These developments may negatively affect the perception of potential triers of fact with respect to the tobacco industry, possibly to the detriment of certain pending litigation, and may prompt the commencement of additional litigation or legislation.

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 in any of the smoking-related litigation.

The activity in the Company’s accruals for the MSA and tobacco litigation for the three years ended December 31, 2023 was 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 as of January 1, 2021	$	38,767	$	3,967	$	42,734	$	17,933	$	19,268	$	37,201
Expenses	173,786		211		173,997		—		—		—
NPM Settlement adjustment	—		—		—		—		—		—
Change in MSA obligations capitalized as inventory	(670)		—		(670)		—		—		—
Payments, net of credits received	(204,706)		(4,091)		(208,797)		—		—		—
Reclassification to/(from) non-current liabilities	4,709		3,351		8,060		(4,709)		(3,351)		(8,060)
Interest on withholding	—		480		480		—		1,763		1,763
Balance as of December 31, 2021	11,886		3,918		15,804		13,224		17,680		30,904
Expenses	278,327		239		278,566		—		—		—
NPM Settlement adjustment	(15)		—		(15)		(2,108)		—		(2,108)
Change in MSA obligations capitalized as inventory	2,634		—		2,634		—		—		—
Payments, net of credits received	(277,994)		(7,948)		(285,942)		—		—		—
Reclassification to/(from) non-current liabilities	—		3,566		3,566		—		(3,566)		(3,566)
Interest on withholding	—		521		521		—		2,003		2,003
Balance as of December 31, 2022	14,838		296		15,134		11,116		16,117		27,233
Expenses	272,212		18,799		291,011		—		—		—
NPM Settlement adjustment	—		—		—		(734)		—		(734)
Change in MSA obligations capitalized as inventory	(97)		—		(97)		—		—		—
Payments, net of credits received	(279,776)		(22,768)		(302,544)		—		—		—
Reclassification to/(from) non-current liabilities	1,635		3,707		5,342		(1,635)		(3,707)		(5,342)
Interest on withholding	—		317		317		—		1,475		1,475
Balance as of December 31, 2023	$	8,812	$	351	$	9,163	$	8,747	$	13,885	$	22,632

Other Matters:

Liggett’s and Vector Tobacco’s management are unaware of any material environmental conditions affecting their existing facilities. Liggett’s and Vector Tobacco’s management believe that current operations are conducted in material compliance with all environmental laws and regulations and other laws and regulations governing cigarette manufacturers. Compliance with federal, state and local provisions regulating the discharge of materials into the environment, or otherwise relating to the protection of the environment, has not had a material impact on the capital expenditures, results of operations or competitive position of Liggett or Vector Tobacco.

Over the years, Liggett and the Company have received various demands for indemnification from Altria Client Services, on behalf of Philip Morris, relating to lawsuits alleging smokers’ use of L&M cigarettes. The indemnification demands are purportedly issued in connection with Eve Holdings’ 1999 sale of certain trademarks to Philip Morris. It is unclear what, if any, liability the Company may have in connection with these matters.

Management is of the opinion that the liabilities, if any, resulting from other proceedings, lawsuits and claims pending against the Company and its consolidated subsidiaries, unrelated to tobacco product liability, should not materially affect the Company’s consolidated financial position, results of operations or cash flows.

Investments and Fair Value Measurements (Investments in Real Estate Ventures) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in real estate ventures	$ 131,497	$ 121,117
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate, net	1,202	490
Investments in real estate ventures	0	0
Nonrecurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in real estate ventures	0	0
Nonrecurring \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in real estate ventures	0	0
Nonrecurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in real estate ventures	$ 0	$ 0

New Valley LLC (Investments in Real Estate, net Narrative) (Details) - New Valley $ in Thousands	1 Months Ended		12 Months Ended
	Apr. 30, 2022 USD ($)	Apr. 30, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Apr. 30, 2009 a lot hole_golf_course room	Mar. 31, 2008 a
Escena
Schedule of Investments [Line Items]
Area of real estate property \| a							450
Number of real estate properties \| lot						615
Number of holes in golf course \| hole_golf_course						18
Area of land \| a						7
Number of units in real estate property \| room						450
Operating income			$ 0	$ 1,316	$ 63
Sale of project	$ 15,300
Manhattan, NY
Schedule of Investments [Line Items]
Sale of project		$ 6,750

Summary of Significant Accounting Policies (Accounts Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Allowance for doubtful accounts and cash discounts	$ 548	$ 838

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures

The following table provides a reconciliation of benefit obligations, plan assets and the funded status of the pension plans and other postretirement benefits:


	Pension Benefits				Other Postretirement Benefits
	2023		2022		2023		2022
Change in benefit obligation:
Benefit obligation at January 1	$	(103,576)	$	(121,166)	$	(6,283)	$	(8,480)
Service cost	(397)		(414)		—		—
Interest cost	(5,090)		(2,628)		(323)		(233)



Benefits paid	5,634		5,993		960		975
Expenses paid	247		264		—		—
Actuarial gain	(807)		14,375		(429)		1,455
Benefit obligation at December 31	$	(103,989)	$	(103,576)	$	(6,075)	$	(6,283)
Change in plan assets:
Fair value of plan assets at January 1	$	84,058	$	104,545	$	—	$	—

Actual return on plan assets	9,279		(14,331)		—		—

Expenses paid	(247)		(264)		—		—
Contributions	100		101		960		975
Benefits paid	(5,634)		(5,993)		(960)		(975)
Fair value of plan assets at December 31	$	87,556	$	84,058	$	—	$	—
Unfunded status at December 31	$	(16,433)	$	(19,518)	$	(6,075)	$	(6,283)
Amounts recognized in the consolidated balance sheets:
Prepaid pension costs	$	45,292	$	38,100	$	—	$	—
Other accrued liabilities	(88)		(89)		(601)		(596)
Non-current employee benefit liabilities	(61,637)		(57,529)		(5,474)		(5,687)
Net amounts recognized	$	(16,433)	$	(19,518)	$	(6,075)	$	(6,283)

Schedule of Net Benefit Costs


	Pension Benefits						Other Postretirement Benefits
	2023		2022		2021		2023		2022		2021
Service cost — benefits earned during the period	$	397	$	414	$	415	$	—	$	—	$	—
Interest cost on projected benefit obligation	5,090		2,628		2,284		323		233		224
Expected return on assets	(5,038)		(3,530)		(3,458)		—		—		—
Prior service cost	—		—		—		8		8		4



Amortization of net loss (gain)	1,055		1,636		1,835		(85)		(31)		86
Net expense	$	1,504	$	1,148	$	1,076	$	246	$	210	$	314

Schedule of Amounts Recognized in Other Comprehensive Loss

As of December 31, 2023, accumulated other comprehensive (loss) income, before income taxes, consisted of the following:


	Defined Benefit Pension Plans		Post- Retirement Plans		Total
Accumulated other comprehensive (loss) gain as of January 1, 2023	$	(22,667)	$	788	$	(21,879)
Amortization of prior service costs	—		8		8


Amortization of loss (gain)	1,055		(85)		970
Net (loss) gain arising during the year	3,434		(429)		3,005
Accumulated other comprehensive (loss) income as of December 31, 2023	$	(18,178)	$	282	$	(17,896)

As of December 31, 2022, accumulated other comprehensive (loss) income, before income taxes, consisted of the following:


	Defined Benefit Pension Plans		Post- Retirement Plans		Total
Accumulated other comprehensive loss as of January 1, 2022	$	(20,817)	$	(644)	$	(21,461)
Amortization of prior service costs	—		8		8

Amortization of loss (gain)	1,636		(31)		1,605
Net (loss) gain arising during the year	(3,486)		1,455		(2,031)
Accumulated other comprehensive (loss) income as of December 31, 2022	$	(22,667)	$	788	$	(21,879)

Schedule of Accumulated Benefit Obligations

As of December 31, 2023, our total accumulated benefit obligations, as well as our projected benefit obligations more than the fair value of the related plan assets, for defined benefit pension plans were as follows:


	December 31,
	2023		2022
Accumulated benefit obligation	$	61,724	$	57,618
Fair value of plan assets	$	—	$	—


	December 31,
	2023		2022
Projected benefit obligation	$	61,724	$	57,618
Fair value of plan assets	$	—	$	—

Schedule of Assumptions Used

The assumptions used for the pension benefits and other postretirement benefits were:


	Pension Benefits			Other Postretirement Benefits
	2023	2022	2021	2023	2022	2021
Weighted average assumptions:
Discount rates — benefit obligation	4.95% - 5.35%	4.90% - 5.30%	1.80% - 2.70%	5.40%	5.40%	2.85%
Discount rates — service cost	4.90% - 5.30%	1.80% - 2.70%	1.40% - 2.30%	5.40%	2.85%	2.55%
Assumed rates of return on invested assets	6.25%	3.50%	3.50%	N/A	N/A	N/A
Salary increase assumptions	N/A	N/A	N/A	3.00%	3.00%	3.00%

Schedule of Allocation of Plan Assets

Vector’s defined benefit retirement plan allocations by asset category, were as follows:


	Plan Assets at December 31,
	2023		2022
Asset category:
Equity securities	35	%	34	%
Investment grade fixed income securities	65	%	66	%



Total	100	%	100	%

The defined benefit plans’ recurring financial assets subject to fair value measurements and the necessary disclosures were as follows:


	Fair Value Measurements as of December 31, 2023
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Insurance contracts	$	1,535	$	—	$	1,535	$	—
Amounts in individually managed investment accounts:
Cash, mutual funds and common stock	118		118		—		—


Common collective trusts at NAV (1)	85,903		—		—		—

Total	$	87,556	$	118	$	1,535	$	—
(1) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.


	Fair Value Measurements as of December 31, 2022
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Insurance contracts	$	1,679	$	—	$	1,679	$	—
Amounts in individually managed investment accounts:
Cash, mutual funds and common stock	85		85		—		—


Common collective trusts at NAV (1)	82,294		—		—		—

Total	$	84,058	$	85	$	1,679	$	—
(1) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Schedule of Expected Benefit Payments

Estimated future pension and postretirement medical benefits payments were as follows:


	Pension		Postretirement Medical
2024	$	5,524	$	601
2025	5,177		590
2026	4,860		579
2027	4,539		551
2028	72,548		533
2029 - 2033	23,577		2,313

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operation


	Year Ended December 31,
	2023		2022		2021
	(Dollars in thousands, except per share amounts)
Revenues:
Real estate	$	—	$	—	$	1,344,825

Expenses:
Cost of sales	—		—		989,436

Operating, selling, administrative and general expenses	—		—		253,942



Operating income	—		—		101,447

Other expenses:
Interest expense	—		—		(164)
Equity in losses from real estate ventures	—		—		(278)
Other, net	—		—		(870)
Pretax income from discontinued operations	—		—		100,135
Income tax expense	—		—		28,016
Income from discontinued operations	—		—		72,119

Net loss from discontinued operations attributed to non-controlling interest	—		—		190

Net income from discontinued operations attributed to Vector Group Ltd.	$	—	$	—	$	72,309

The following table presents the information regarding certain components of cash flows from discontinued operations:


	Year Ended December 31,
	2023		2022		2021
	(Dollars in thousands, except per share amounts)
Depreciation and amortization	$	—	$	—	$	8,561
Non-cash lease expense	—		—		18,667



Capital expenditures	—		—		(4,106)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Employee Benefit Plans (Schedule of Defined Benefit Plan Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amounts recognized in the consolidated balance sheets:
Prepaid pension costs	$ 45,292	$ 38,100
Non-current employee benefit liabilities	(67,111)	(63,216)
Pension Benefits
Change in benefit obligation:
Benefit obligation at January 1	(103,576)	(121,166)
Service cost	(397)	(414)	$ (415)
Interest cost	(5,090)	(2,628)	(2,284)
Benefits paid	5,634	5,993
Expenses paid	247	264
Actuarial gain	(807)	14,375
Benefit obligation at December 31	(103,989)	(103,576)	(121,166)
Change in plan assets:
Fair value of plan assets at January 1	84,058	104,545
Actual return on plan assets	9,279	(14,331)
Expenses paid	(247)	(264)
Contributions	100	101
Benefits paid	(5,634)	(5,993)
Fair value of plan assets at December 31	87,556	84,058	104,545
Unfunded status at December 31	(16,433)	(19,518)
Amounts recognized in the consolidated balance sheets:
Prepaid pension costs	45,292	38,100
Other accrued liabilities	(88)	(89)
Non-current employee benefit liabilities	(61,637)	(57,529)
Net amounts recognized	(16,433)	(19,518)
Other Postretirement Benefits
Change in benefit obligation:
Benefit obligation at January 1	(6,283)	(8,480)
Service cost	0	0	0
Interest cost	(323)	(233)	(224)
Benefits paid	960	975
Expenses paid	0	0
Actuarial gain	(429)	1,455
Benefit obligation at December 31	(6,075)	(6,283)	(8,480)
Change in plan assets:
Fair value of plan assets at January 1	0	0
Actual return on plan assets	0	0
Expenses paid	0	0
Contributions	960	975
Benefits paid	(960)	(975)
Fair value of plan assets at December 31	0	0	$ 0
Unfunded status at December 31	(6,075)	(6,283)
Amounts recognized in the consolidated balance sheets:
Prepaid pension costs	0	0
Other accrued liabilities	(601)	(596)
Non-current employee benefit liabilities	(5,474)	(5,687)
Net amounts recognized	$ (6,075)	$ (6,283)

Summary of Significant Accounting Policies (Concentration of Credit Risk Narrative) (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Sales Revenue \| First Largest Customer
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	15.00%	14.00%
Sales Revenue \| Second Largest Customer
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	11.00%	12.00%
Accounts Receivable \| First Largest Customer
Concentration Risk [Line Items]
Concentration risk percentage	4.00%	4.00%
Accounts Receivable \| Second Largest Customer
Concentration Risk [Line Items]
Concentration risk percentage	8.00%	37.00%

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION


	Year Ended December 31,
	2023		2022		2021
Cash paid during the period for:
Interest, including interest related to finance leases	$	109,449	$	112,759	$	111,759
Income taxes, net	50,189		42,426		92,698

Investment Securities (Combined Financial Statements for Unconsolidated Subsidiaries Accounted for on Equity Method) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investment income	$ 1,424,268	$ 1,441,009	$ 1,220,700
Expenses	965,348	998,658	769,542
Operating income	328,035	339,010	320,439
Net income	183,526	158,701	219,273
Investment securities	140,337	145,355
Cash and cash equivalents	268,600	224,580	193,411
Total assets	934,095	908,591
Total liabilities	1,675,909	1,716,468
Total liabilities and stockholders' deficiency	934,095	908,591
Unconsolidated Subsidiaries Accounted For As An Equity Method Investment
Schedule of Equity Method Investments [Line Items]
Investment income	4,713	3,209	1,574
Expenses	10,585	13,272	12,873
Operating income	(5,872)	(10,063)	(11,299)
Total net realized gain (loss) and net change in unrealized depreciation from investments	4,824	(84,466)	48,342
Net income	(1,048)	(94,529)	$ 37,043
Investment securities	290,916	299,389
Cash and cash equivalents	695	2,860
Other assets	38,471	87,507
Total assets	330,082	389,756
Other liabilities	159,858	159,246
Total liabilities	159,858	159,246
Partners’ capital	170,224	230,510
Total liabilities and stockholders' deficiency	$ 330,082	$ 389,756

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Financial Information for the Company’s Operations Before Taxes and Non-controlling Interests

Financial information for the Company’s operations before taxes and non-controlling interests for the years ended December 31, 2023, 2022 and 2021 was as follows:


				Real			Corporate
	Tobacco			Estate			and Other			Total

2023
Revenues	$	1,424,268		$	—		$	—		$	1,424,268
Operating income (loss)	346,673		(1)	313			(18,951)			328,035
Equity in earnings from real estate ventures	—			2,202			—			2,202
Identifiable assets	320,925			156,690		(4)	456,480		(6)	934,095
Depreciation and amortization	5,686			—			1,255			6,941
Capital expenditures	10,279			—			278			10,557

2022
Revenues	$	1,425,125		$	15,884		$	—		$	1,441,009
Operating income (loss)	347,044		(2)	8,016			(16,050)			339,010
Equity in losses from real estate ventures	—			(5,946)			—			(5,946)
Identifiable assets of continuing operations	343,874			137,747		(4)	426,970		(6)	908,591
Depreciation and amortization	5,901			66			1,251			7,218
Capital expenditures	9,872			1			84			9,957

2021
Revenues	$	1,202,497		$	18,203		$	—		$	1,220,700
Operating income (loss)	360,317		(3)	4,066			(43,944)		(5)	320,439
Equity in earnings from real estate ventures	—			10,250			—			10,250
Identifiable assets of continuing operations	302,051			128,256		(4)	440,780		(6)	871,087
Depreciation and amortization	6,525			249			1,042			7,816
Capital expenditures	5,827			3			3,570			9,400

_____________________________

(1)Includes $734 received from a litigation settlement associated with the MSA (which reduced cost of sales) and $18,799 of litigation settlement and judgment expense.

(2)Includes $2,123 received from a litigation settlement associated with the MSA (which reduced cost of sales) and $239 of litigation settlement and judgment expense.

(3)Includes $2,722 received from a litigation settlement associated with the MSA (which reduced cost of sales) and $211 of litigation settlement and judgment expense.

(4)Includes real estate investments accounted for under the equity method of accounting of $131,497, $121,117 and $105,062 as of December 31, 2023, 2022 and 2021, respectively.

(5)Includes transaction expenses of $10,468 and accelerated stock compensation of $4,317 related to the Distribution of Douglas Elliman; and $910 of gain on sale of assets.

(6)Includes cash of $251,732, investment securities of $110,935 and long-term investments of $46,760 as of December 31, 2023; cash of $213,988, investment securities of $116,436, and long-term investments of $44,959 as of December 31, 2022; and cash of $167,383, investment securities of $146,687, and long-term investments of $53,073 as of December 31, 2021.

Investment Securities (Equity-Method Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Equity-method investments	$ 17,358	$ 16,040
Mutual fund and hedge funds
Debt Securities, Available-for-sale [Line Items]
Equity-method investments	$ 17,358	$ 16,040

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
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-Paragraph 3
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
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-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Stock Compensation (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option exercises in period, intrinsic value	$ 1,066
Tax benefit of options exercised	417
Corporate and Other \| Spin-off of Douglas Elliman
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock compensation			$ 4,317
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 42	$ 339	849
Contractual term	10 years
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 10,069	$ 7,509	$ 13,949
Total compensation cost not yet recognized	$ 22,566
Total compensation cost not yet recognized, period for recognition	1 year 3 months 29 days
Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	12 months
Shares available for issuance (in shares)	7,955

Employee Benefit Plans (Plan Asset Allocation) (Details)	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual allocation	100.00%	100.00%
Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual allocation	35.00%	34.00%
Investment grade fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual allocation	65.00%	66.00%

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company’s business segments for the years ended December 31, 2023, 2022 and 2021 were Tobacco and Real Estate. 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 years ended December 31, 2023, 2022 and 2021 was as follows:


				Real			Corporate
	Tobacco			Estate			and Other			Total

2023
Revenues	$	1,424,268		$	—		$	—		$	1,424,268
Operating income (loss)	346,673		(1)	313			(18,951)			328,035
Equity in earnings from real estate ventures	—			2,202			—			2,202
Identifiable assets	320,925			156,690		(4)	456,480		(6)	934,095
Depreciation and amortization	5,686			—			1,255			6,941
Capital expenditures	10,279			—			278			10,557

2022
Revenues	$	1,425,125		$	15,884		$	—		$	1,441,009
Operating income (loss)	347,044		(2)	8,016			(16,050)			339,010
Equity in losses from real estate ventures	—			(5,946)			—			(5,946)
Identifiable assets of continuing operations	343,874			137,747		(4)	426,970		(6)	908,591
Depreciation and amortization	5,901			66			1,251			7,218
Capital expenditures	9,872			1			84			9,957

2021
Revenues	$	1,202,497		$	18,203		$	—		$	1,220,700
Operating income (loss)	360,317		(3)	4,066			(43,944)		(5)	320,439
Equity in earnings from real estate ventures	—			10,250			—			10,250
Identifiable assets of continuing operations	302,051			128,256		(4)	440,780		(6)	871,087
Depreciation and amortization	6,525			249			1,042			7,816
Capital expenditures	5,827			3			3,570			9,400

_____________________________

(1)Includes $734 received from a litigation settlement associated with the MSA (which reduced cost of sales) and $18,799 of litigation settlement and judgment expense.

(2)Includes $2,123 received from a litigation settlement associated with the MSA (which reduced cost of sales) and $239 of litigation settlement and judgment expense.

(3)Includes $2,722 received from a litigation settlement associated with the MSA (which reduced cost of sales) and $211 of litigation settlement and judgment expense.

(4)Includes real estate investments accounted for under the equity method of accounting of $131,497, $121,117 and $105,062 as of December 31, 2023, 2022 and 2021, respectively.

(5)Includes transaction expenses of $10,468 and accelerated stock compensation of $4,317 related to the Distribution of Douglas Elliman; and $910 of gain on sale of assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Earnings Per Share (Net Income for Purposes of Determining Basic and Diluted EPS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net income attributed to Vector Group Ltd. from continuing operations	$ 183,526	$ 158,701	$ 147,154
Net income attributed to Vector Group Ltd. from discontinued operations	0	0	72,309
Net income	183,526	158,701	219,463
Income from continuing operations attributable to participating securities	(5,005)	(4,947)	(5,862)
Income from continuing operations attributable to participating securities	(5,005)	(4,947)	(3,694)
Income from continuing operations attributable to participating securities	(5,005)	(4,947)	(5,862)
Income from continuing operations attributable to participating securities	(5,005)	(4,947)	(3,694)
Net income available to common stockholders attributed to Vector Group Ltd.	178,521	153,754	213,601
Net income available to common stockholders attributed to Vector Group Ltd.	178,521	153,754	143,460
Net income available to common stockholders attributed to Vector Group Ltd.	178,521	153,754	213,601
Net income available to common stockholders attributed to Vector Group Ltd.	$ 178,521	$ 153,754	$ 143,460

New Valley LLC (Investment in Real Estate Ventures Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) venture	Dec. 31, 2022 USD ($) venture	Dec. 31, 2021 USD ($) venture
Schedule of Investments [Line Items]
Distributions from real estate ventures, return on capital	$ 4,248	$ 3,429	$ 25,326
Distributions from real estate ventures	9,186	4,946	11,936
Total equity in earnings (losses) from real estate ventures	2,202	(5,946)	10,250
Investments in real estate ventures	131,497	121,117
New Valley
Schedule of Investments [Line Items]
Distributions from real estate ventures, return on capital	4,248	3,429
Distributions from real estate ventures	9,186	4,946
Impairment of real estate, net	1,202	490	2,713
Total equity in earnings (losses) from real estate ventures	2,202	(5,946)	10,250
Investments in real estate ventures	131,497	121,117
Total maximum exposure to loss	131,497
Interest costs capitalized	4,287	4,432
New Valley \| New Valley’s Park Lane Hotel Joint Venture
Schedule of Investments [Line Items]
Distributions from real estate ventures, return on capital	4,931
Total equity in earnings (losses) from real estate ventures	4,657
Investments in real estate ventures	0
New Valley \| New Valley’s Ritz-Carlton Villas Joint Venture
Schedule of Investments [Line Items]
Distributions from real estate ventures, return on capital	3,935
Total equity in earnings (losses) from real estate ventures	3,909
Investments in real estate ventures	0
New Valley \| New Valley’s Natura joint venture
Schedule of Investments [Line Items]
Distributions from real estate ventures, return on capital			5,168
Total equity in earnings (losses) from real estate ventures			3,899
Investments in real estate ventures	11,054
New Valley \| New Valley’s Maryland joint venture
Schedule of Investments [Line Items]
Distributions from real estate ventures, return on capital			18,566
Total equity in earnings (losses) from real estate ventures			18,566
Investments in real estate ventures	0
New Valley \| 353 6th LLC \| Corporate Joint Venture
Schedule of Investments [Line Items]
Payments to acquire real estate	$ 700
Equity method ownership percentage	27.00%
Total maximum exposure to loss	$ 727
New Valley \| Banyan Cay \| Corporate Joint Venture
Schedule of Investments [Line Items]
Payments to acquire real estate	$ 3,983
Equity method ownership percentage	13.50%
Total maximum exposure to loss	$ 3,983
New Valley \| Hotels
Schedule of Investments [Line Items]
Number of impaired real estate properties \| venture	1
Total equity in earnings (losses) from real estate ventures	$ 2,792	(853)	$ (1,927)
Investments in real estate ventures	138	$ 2,510
New Valley \| Commercial
Schedule of Investments [Line Items]
Number of impaired real estate properties \| venture		1	1
Total equity in earnings (losses) from real estate ventures	362	$ 1,005	$ (1,811)
Investments in real estate ventures	15,234	15,347
New Valley \| Condominium and Mixed-Use Development
Schedule of Investments [Line Items]
Total equity in earnings (losses) from real estate ventures	1,316	(6,469)	(4,148)
Investments in real estate ventures	108,334	93,350
New Valley \| Other
Schedule of Investments [Line Items]
Total equity in earnings (losses) from real estate ventures	0	2,250	(430)
Investments in real estate ventures	0	439
New Valley \| Apartment Buildings
Schedule of Investments [Line Items]
Total equity in earnings (losses) from real estate ventures	(2,268)	(1,879)	$ 18,566
Investments in real estate ventures	$ 7,791	$ 9,471

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 207,821	$ 197,552
Less accumulated depreciation and amortization	(164,441)	(157,972)
Property, plant and equipment, net	43,380	39,580
Depreciation and amortization expense	6,738	7,218	$ 7,816
Liggett \| Purchase commitments
Property, Plant and Equipment [Line Items]
Future machinery and equipment purchase commitments and factory modernization	6,767
Liggett \| Factory Modernization
Property, Plant and Equipment [Line Items]
Future machinery and equipment purchase commitments and factory modernization	3,842
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,678	1,678
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	18,911	18,792
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	185,966	175,816
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,266	$ 1,266

Notes Payable, Long-Term Debt and Other Obligations (Schedule of Components of Debt and Other Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jan. 28, 2021	Nov. 02, 2018
Debt Instrument [Line Items]
Debt issuance costs	$ 20,162	$ 24,672
Notes payable, long-term debt and other obligations	1,391,981	1,436,998
Debt issuance costs	(20,162)	(24,672)
Total notes payable, long-term debt and other obligations	1,371,819	1,412,326
Current maturities	(8)	(22,065)
Amount due after one year	1,371,811	1,390,261
Senior Notes \| 5.75% Senior Secured Notes due 2029
Debt Instrument [Line Items]
Interest rate			5.75%
Notes payable, long-term debt and other obligations	875,000	875,000
Senior Notes \| 10.5% Senior Notes due 2026, net of unamortized discount of $1,719 and $2,209
Debt Instrument [Line Items]
Interest rate				10.50%
Debt issuance costs	1,719	2,209
Notes payable, long-term debt and other obligations	516,973	539,926
Debt issuance costs	(1,719)	(2,209)
Revolving credit facility \| Revolving credit facility \| Liggett
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations	0	22,035
Equipment loans \| Liggett
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations	$ 8	$ 37

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Real Estate Segment Revenue

Real Estate segment revenues are disaggregated in the table below. The Real Estate segment includes the Company’s investment in New Valley, investments in real estate ventures and, prior to April 2022 when Escena was sold, included investments in real estate. After the sale of Escena, the Company has no revenues from its real estate segment.


	Year Ended December 31,
	2023		2022		2021
Real Estate Segment Revenues
Sales on facilities primarily from Escena	$	—	$	3,259	$	5,353
Revenues from investments in real estate	—		12,625		12,850
Total real estate revenues	$	—	$	15,884	$	18,203

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Consulting services. Beginning in April 2020, a director of the Company, who served as President and Chief Executive Officer of Liggett Group and Liggett Vector Brands until March 2020, has served as Non-Executive Chairman of the Board of Managers of Liggett Vector Brands and as a Senior Advisor to Liggett. In addition to fees earned as a director of the Company, he has received $720, $720 and $720 under the agreement for the years ended December 31, 2023, 2022 and 2021. Douglas Elliman Inc. On December 29, 2021, the Company completed the Distribution of Douglas Elliman, which included the real estate services and PropTech investment business formerly owned by the Company through its subsidiary, New Valley. Vector Group and Douglas Elliman entered into the Distribution Agreement and the Transition Services Agreement with respect to transition services and several ongoing commercial relationships. Under the Transition Services Agreement, Douglas Elliman paid the Company $4,200 in both 2023 and 2022. The Company and Douglas Elliman also entered into two Aircraft Lease Agreements for the right to lease on a flight-by-flight basis certain aircraft owned by subsidiaries of the Company. Under the agreements, Douglas Elliman paid $2,124 in 2023 and $2,418 in 2022 to the Company. The Company has agreed to indemnify Douglas Elliman for certain tax matters under the Tax Disaffiliation Agreement. The Company paid Douglas Elliman $589 in 2022 and recorded Other expense in its consolidated statements of operations for the year ended December 31, 2022 related to the tax indemnifications. Following the Distribution, there is an overlap between certain officers of Vector Group and Douglas Elliman. The President and Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer and Treasurer, and the General Counsel and Secretary of Vector Group serve in the same role at Douglas Elliman. Furthermore, three of the members of Vector Group’s Board of Directors also serve as directors of Douglas Elliman. Douglas Elliman Realty LLC has been engaged by certain 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 real estate venture investments. Douglas Elliman had gross commissions of approximately $1,766, $1,709 and $8,956 from these projects for the years ended December 31, 2023, 2022 and 2021, respectively. A son of the Company’s President and Chief Executive Officer is an associate broker with Douglas Elliman and he received commissions and other payments of $925 in accordance with brokerage activities in 2021. Insurance. The Company’s Chief Executive Officer, a firm in which he is a shareholder, and affiliates of that firm received insurance commissions aggregating approximately $265, $257 and $241 in 2023, 2022 and 2021, respectively, on various insurance policies issued for the Company and its subsidiaries. Other. In September 2012, the Company entered into an office lease with an entity affiliated with Dr. Phillip Frost, who beneficially owns more than 5% of the Company’s common stock. The lease is for space in an office building in Miami, Florida and will expire on April 30, 2028, as amended in February 2023. The amended lease provides for payments of $43 per month increasing to $48 per month. The Company recorded rental expense of $541, $458, and $458 for the years ended December 31, 2023, 2022 and 2021, associated with the lease.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Employee Benefit Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

Defined Benefit Plans and Postretirement Plans:

Defined Benefit Plans. The Company sponsors four defined benefit pension plans (two qualified and two non-qualified) covering virtually all individuals who were employed by Liggett on a full-time basis prior to 1994. Future accruals of benefits under these four defined benefit plans were frozen between 1993 and 1995. These benefit plans provide pension benefits for eligible employees based primarily on their compensation and length of service. Contributions are made to the two qualified pension plans in amounts necessary to meet the minimum funding requirements of the Employee Retirement Income Security Act of 1974. The plans’ assets and benefit obligations were measured on December 31, 2023 and 2022, respectively.

The Company also sponsors a Supplemental Retirement Plan (“SERP”) where the Company will pay supplemental retirement benefits to certain key employees, including certain executive officers of the Company. The plan meets the applicable requirements of Section 409A of the Internal Revenue Code and is intended to be unfunded for tax purposes. Payments under the SERP are made from the general assets of the Company. The SERP is a defined benefit plan. Under the SERP, the benefit payable to a participant at his normal retirement date is a lump sum amount which is the actuarial equivalent of a predetermined annual retirement benefit set by the Company’s Board of Directors. Normal retirement date is defined as the January 1 following the attainment by the participant of the latter of age 60 or the completion of eight years of employment following January 1, 2002 with the Company or a subsidiary.

The SERP provides the Company’s President and Chief Executive Officer with an additional benefit paid as a lump sum under the SERP that is actuarially equivalent to a $1,788 lifetime annuity. In addition, in the event of a termination of his employment under the circumstances where he is entitled to severance payments under his employment agreement, he will be credited with an additional 36 months of service towards vesting under the SERP.

As of December 31, 2023, the aggregate lump sum equivalents of the annual retirement benefits payable under the Amended SERP at normal retirement dates occurring during the following years is as follows: 2028 – $68,316 and 2029 to 2033 – $6,866. In the case of a participant who becomes disabled prior to his normal retirement date or whose service is terminated without cause, the participant’s benefit consists of a pro-rata portion of the full projected retirement benefit to which he would have been entitled had he remained employed through his normal retirement date, as actuarially discounted back to the date of payment. A participant who dies while working for the Company or a subsidiary (and before becoming disabled or attaining his normal retirement date) will be paid an actuarially discounted equivalent of his projected retirement benefit; conversely, a participant who retires beyond his normal retirement date will receive an actuarially increased equivalent of his projected retirement benefit.

Postretirement Medical and Life Plans. The Company provides certain postretirement medical and life insurance benefits to certain employees and retirees. Substantially all Liggett manufacturing employees as of December 31, 2023 are eligible for postretirement medical benefits if they reach retirement age while working for Liggett or certain affiliates. Retirees are required to fund 100% of participant medical premiums and, pursuant to union contracts, Liggett reimburses 43 hourly retirees, who retired prior to 1991, for Medicare Part B premiums. In addition, the Company provides life insurance benefits to 66 active employees and 326 retirees who reach retirement age and are eligible to receive benefits under two of the Company’s defined benefit pension plans. The Company’s postretirement liabilities are comprised of Medicare Part B and life insurance premiums.

The following table provides a reconciliation of benefit obligations, plan assets and the funded status of the pension plans and other postretirement benefits:


	Pension Benefits				Other Postretirement Benefits
	2023		2022		2023		2022
Change in benefit obligation:
Benefit obligation at January 1	$	(103,576)	$	(121,166)	$	(6,283)	$	(8,480)
Service cost	(397)		(414)		—		—
Interest cost	(5,090)		(2,628)		(323)		(233)



Benefits paid	5,634		5,993		960		975
Expenses paid	247		264		—		—
Actuarial gain	(807)		14,375		(429)		1,455
Benefit obligation at December 31	$	(103,989)	$	(103,576)	$	(6,075)	$	(6,283)
Change in plan assets:
Fair value of plan assets at January 1	$	84,058	$	104,545	$	—	$	—

Actual return on plan assets	9,279		(14,331)		—		—

Expenses paid	(247)		(264)		—		—
Contributions	100		101		960		975
Benefits paid	(5,634)		(5,993)		(960)		(975)
Fair value of plan assets at December 31	$	87,556	$	84,058	$	—	$	—
Unfunded status at December 31	$	(16,433)	$	(19,518)	$	(6,075)	$	(6,283)
Amounts recognized in the consolidated balance sheets:
Prepaid pension costs	$	45,292	$	38,100	$	—	$	—
Other accrued liabilities	(88)		(89)		(601)		(596)
Non-current employee benefit liabilities	(61,637)		(57,529)		(5,474)		(5,687)
Net amounts recognized	$	(16,433)	$	(19,518)	$	(6,075)	$	(6,283)


	Pension Benefits						Other Postretirement Benefits
	2023		2022		2021		2023		2022		2021
Service cost — benefits earned during the period	$	397	$	414	$	415	$	—	$	—	$	—
Interest cost on projected benefit obligation	5,090		2,628		2,284		323		233		224
Expected return on assets	(5,038)		(3,530)		(3,458)		—		—		—
Prior service cost	—		—		—		8		8		4



Amortization of net loss (gain)	1,055		1,636		1,835		(85)		(31)		86
Net expense	$	1,504	$	1,148	$	1,076	$	246	$	210	$	314

As of December 31, 2023, accumulated other comprehensive (loss) income, before income taxes, consisted of the following:


	Defined Benefit Pension Plans		Post- Retirement Plans		Total
Accumulated other comprehensive (loss) gain as of January 1, 2023	$	(22,667)	$	788	$	(21,879)
Amortization of prior service costs	—		8		8


Amortization of loss (gain)	1,055		(85)		970
Net (loss) gain arising during the year	3,434		(429)		3,005
Accumulated other comprehensive (loss) income as of December 31, 2023	$	(18,178)	$	282	$	(17,896)

As of December 31, 2022, accumulated other comprehensive (loss) income, before income taxes, consisted of the following:


	Defined Benefit Pension Plans		Post- Retirement Plans		Total
Accumulated other comprehensive loss as of January 1, 2022	$	(20,817)	$	(644)	$	(21,461)
Amortization of prior service costs	—		8		8

Amortization of loss (gain)	1,636		(31)		1,605
Net (loss) gain arising during the year	(3,486)		1,455		(2,031)
Accumulated other comprehensive (loss) income as of December 31, 2022	$	(22,667)	$	788	$	(21,879)


	December 31,
	2023		2022
Accumulated benefit obligation	$	61,724	$	57,618
Fair value of plan assets	$	—	$	—


	December 31,
	2023		2022
Projected benefit obligation	$	61,724	$	57,618
Fair value of plan assets	$	—	$	—

The information for other postretirement benefit plans with an accumulated postretirement benefit obligation more than plan assets has been disclosed in the Obligations table above because all the other postretirement benefit plans are unfunded or underfunded.

The assumptions used for the pension benefits and other postretirement benefits were:


	Pension Benefits			Other Postretirement Benefits
	2023	2022	2021	2023	2022	2021
Weighted average assumptions:
Discount rates — benefit obligation	4.95% - 5.35%	4.90% - 5.30%	1.80% - 2.70%	5.40%	5.40%	2.85%
Discount rates — service cost	4.90% - 5.30%	1.80% - 2.70%	1.40% - 2.30%	5.40%	2.85%	2.55%
Assumed rates of return on invested assets	6.25%	3.50%	3.50%	N/A	N/A	N/A
Salary increase assumptions	N/A	N/A	N/A	3.00%	3.00%	3.00%

Discount rates were determined by a quantitative analysis examining the prevailing prices of high-quality bonds to determine an appropriate discount rate for measuring obligations. The aforementioned analyses analyze the cash flow from each of the Company’s four benefit plans as well as a separate analysis of the cash flows from the postretirement medical and life insurance plans sponsored by Liggett. The aforementioned analyses then construct a hypothetical bond portfolio whose cash flow from coupons and maturities match the year-by-year, projected benefit cash flow from the respective pension or retiree health plans. The Company uses the lower discount rate derived from the two independent analyses in the computation of the benefit obligation and service cost for each respective retirement liability.

The Company considers input from its external advisors and historical returns in developing its expected rate of return on plan assets. The expected long-term rate of return is the weighted average of the target asset allocation of each individual asset class. The Company’s actual 10-year annual rate of return on its pension plan assets was 4.42%, 4.83% and 7.74% for the years ended December 31, 2023, 2022 and 2021, respectively, and the Company’s actual five-year annual rate of return on its pension plan assets was 3.00%, 2.42% and 7.86% for the years ended December 31, 2023, 2022 and 2021, respectively.

Gains and losses resulted from changes in actuarial assumptions and from differences between assumed and actual experience, including, among other items, changes in discount rates and changes in actual returns on plan assets as compared to

assumed returns. These gains and losses are amortized to the extent that they exceed 10% of the greater of Projected Benefit Obligation and the fair value of assets. For the year ended December 31, 2023, Liggett used a 12.64-year period for its Hourly Plan and an 11.01-year period for its Salaried Plan to amortize pension fund gains and losses on a straight-line basis. Such amounts are reflected in the pension expense calculation beginning the year after the gains or losses occur. The amortization of deferred losses negatively impacts pension expense in the future periods.

Plan assets are invested employing multiple investment management firms. Managers within each asset class cover a range of investment styles and focus primarily on issue selection to add value. Risk is controlled through a diversification among asset classes, managers, styles and securities. Risk is further controlled both at the manager and asset class level by assigning excess return and tracking error targets. Investment managers are monitored to evaluate performance against these benchmark indices and targets.

Allowable investment types include equity, investment grade fixed income and short-term investments. The equity fund is comprised of a Large Cap Index fund and a Mid Cap Index fund, both of which are U.S. based. The investment grade fixed income fund includes two managed funds investing in fixed income securities issued or guaranteed by the U.S. government, or by its respective agencies, mortgage-backed securities, including collateralized mortgage obligations, and corporate debt obligations. The Company generally utilizes its short-term investments, including interest-bearing cash, to pay benefits and to deploy in special situations.

The Liggett Employee Benefits Committee has established the following target assets allocation to equal 35% equity investments and 65% investment grade fixed income, with a rebalancing range of approximately plus or minus 5% around the target asset allocations.

Vector’s defined benefit retirement plan allocations by asset category, were as follows:


	Plan Assets at December 31,
	2023		2022
Asset category:
Equity securities	35	%	34	%
Investment grade fixed income securities	65	%	66	%



Total	100	%	100	%

The defined benefit plans’ recurring financial assets subject to fair value measurements and the necessary disclosures were as follows:


	Fair Value Measurements as of December 31, 2023
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Insurance contracts	$	1,535	$	—	$	1,535	$	—
Amounts in individually managed investment accounts:
Cash, mutual funds and common stock	118		118		—		—


Common collective trusts at NAV (1)	85,903		—		—		—

Total	$	87,556	$	118	$	1,535	$	—
(1) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.


	Fair Value Measurements as of December 31, 2022
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Insurance contracts	$	1,679	$	—	$	1,679	$	—
Amounts in individually managed investment accounts:
Cash, mutual funds and common stock	85		85		—		—


Common collective trusts at NAV (1)	82,294		—		—		—

Total	$	84,058	$	85	$	1,679	$	—
(1) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

The fair value of investment included in Level 1 is based on quoted market prices from various stock exchanges. The Level 2 investments are based on quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets in markets that are not active.

For 2023 measurement purposes, annual increases in Medicare Part B trends were assumed to equal rates between 5.54% and 7.23% between 2024 and 2031 and 4.5% thereafter. For 2022 measurement purposes, annual increases in Medicare Part B trends were assumed to equal rates between 3.06% and 8.01% between 2023 and 2030 and 4.5% thereafter.

To comply with ERISA’s minimum funding requirements, the Company currently anticipates that it will be required to make $88 of contributions to the pension plan year beginning on January 1, 2024 and ending on December 31, 2024. Any additional funding obligation that the Company may have for subsequent years is contingent on several factors and is not reasonably estimable at this time.

Estimated future pension and postretirement medical benefits payments were as follows:


	Pension		Postretirement Medical
2024	$	5,524	$	601
2025	5,177		590
2026	4,860		579
2027	4,539		551
2028	72,548		533
2029 - 2033	23,577		2,313

Profit Sharing and 401(k) Plans:

The Company maintains 401(k) plans for substantially all U.S. employees which allow eligible employees to invest a percentage of their pre-tax compensation. The Company contributed to the 401(k) plans and expensed $1,756, $1,590 and $1,473 for the years ended December 31, 2023, 2022 and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
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-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Employee Benefit Plans (Amounts Recognized Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), before Income Taxes [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	$ (21,879)	$ (21,461)
Amortization of prior service costs	8	8
Amortization of loss (gain)	970	1,605
Net (loss) gain arising during the year	3,005	(2,031)	$ 5,967
Accumulated other comprehensive income (loss), ending balance	(17,896)	(21,879)	(21,461)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss), before Income Taxes [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	(22,667)	(20,817)
Amortization of prior service costs	0	0
Amortization of loss (gain)	1,055	1,636
Net (loss) gain arising during the year	3,434	(3,486)
Accumulated other comprehensive income (loss), ending balance	(18,178)	(22,667)	(20,817)
Post- Retirement Plans
Accumulated Other Comprehensive Income (Loss), before Income Taxes [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	788	(644)
Amortization of prior service costs	8	8
Amortization of loss (gain)	(85)	(31)
Net (loss) gain arising during the year	(429)	1,455
Accumulated other comprehensive income (loss), ending balance	$ 282	$ 788	$ (644)

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Leaf tobacco	$ 46,190	$ 39,893
Other raw materials	9,372	8,808
Work-in-process	814	798
Finished goods	65,295	64,865
Inventories at current cost	121,671	114,364
Total LIFO adjustments	(29,712)	(21,916)
Inventory, net	91,959	92,448
Leaf tobacco
Inventory [Line Items]
Total LIFO adjustments	(19,941)	(15,213)
Other raw materials
Inventory [Line Items]
Total LIFO adjustments	(2,411)	(1,220)
Work-in-process
Inventory [Line Items]
Total LIFO adjustments	(105)	(25)
Finished goods
Inventory [Line Items]
Total LIFO adjustments	$ (7,255)	$ (5,458)

Notes Payable, Long-Term Debt and Other Obligations (Fair Value of Notes Payable and Long Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	$ 1,391,981	$ 1,436,998
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	1,322,328	1,318,267
Senior Notes \| Carrying Value \| 5.75% Senior Secured Notes due 2029
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	875,000	875,000
Senior Notes \| Carrying Value \| 10.5% Senior Notes due 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	516,973	539,926
Senior Notes \| Fair Value \| 5.75% Senior Secured Notes due 2029
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	800,126	758,993
Senior Notes \| Fair Value \| 10.5% Senior Notes due 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	522,194	537,202
Liggett and other \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	8	22,072
Liggett and other \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and long-term debt	$ 8	$ 22,072

Inventories (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Inventories (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Effect of liquidations of LIFO inventory	$ 576	$ 3,248
Capitalized MSA cost in finished goods inventory	22,988	23,084
Federal excise tax in inventory	25,151	$ 26,423
Inventories \| Liggett
Inventory [Line Items]
Purchase commitments	$ 31,508

Stock Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK COMPENSATION

On May 16, 2014, the Company’s stockholders approved the 2014 Plan. The 2014 Plan replaced the 1999 Plan. On July 26, 2023, the Company’s stockholders approved the 2023 Plan. The 2023 Plan replaced the 2014 Plan. Like the 1999 Plan and 2014 Plan, the 2023 Plan provides for the Company to grant stock options, stock appreciation rights and restricted stock. The 2023 Plan also provides for awards based on a multi-year performance period and for annual short-term awards based on a twelve-month performance period. Shares available for issuance under the 2023 Plan are 7,955,000 shares. The Company may satisfy its obligations under any award granted under the 2023 Plan by issuing new shares. Awards previously granted under the 1999 Plan and the 2014 Plan remain outstanding in accordance with their terms.

Stock Options. The Company recognized stock-based compensation expense of $42, $339 and $849 related to stock options for the years ended December 31, 2023, 2022 and 2021, respectively. The Company has not granted option awards to employees since 2019.

All stock option awards have a contractual term of 10 years and they vested over a period of four years. The fair value of option grants was estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes option pricing model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions, including expected stock price characteristics which are significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, the existing models do not necessarily provide a reliable single measure of the fair value of stock-based compensation awards.

The assumptions used under the Black-Scholes option pricing model in computing fair value of options are based on the expected option life considering both the contractual term of the option and expected employee exercise behavior, the interest rate associated with U.S. Treasury issues with a remaining term equal to the expected option life and the expected volatility of the Company’s common stock over the expected term of the option.

A summary of employee stock option transactions follows:


	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (1)
Outstanding on January 1, 2021	3,822,819	$	15.40	4.6	$	487

Exercised	—	$	—

Outstanding on December 31, 2021	3,822,819	$	15.40	3.6	$	238

Exercised	—	$	—

Outstanding on December 31, 2022	3,822,819	$	15.40	2.6	$	794

Exercised	(1,055,315)	$	11.47

Outstanding on December 31, 2023	2,767,504	$	16.89	2.6	$	146
Options exercisable at:
December 31, 2021	2,988,727
December 31, 2022	3,415,944
December 31, 2023	2,767,504

_____________________________

(1)The aggregate intrinsic value represents the amount by which the fair value of the underlying common stock ($11.28, $11.86 and $11.48 as of December 31, 2023, 2022 and 2021, respectively) exceeds the option exercise price.

Additional information relating to options outstanding as of December 31, 2023 follows:


			Options Outstanding				Options Exercisable
Range of Exercise Prices			Outstanding as of	Weighted-Average Remaining Contractual Life (Years)	Weighted-Average Exercise Price		Exercisable as of	Weighted-Average Remaining Contractual Life (Years)	Weighted-Average Exercise Price		Aggregate Intrinsic Value
			12/31/2023				12/31/2023
$9.86	-	$11.83	406,875	5.2	$	10.92	406,875	5.2	$	10.92	$	—
$11.83	-	$13.80	—	—	$	—	—	—	$	—	$	—
$13.80	-	$15.77	519,278	0.4	$	14.68	519,278	0.4	$	14.68	$	—
$15.77	-	$17.74	—	—	$	—	—	—	$	—	$	—
$17.74	-	$19.71	1,841,351	2.6	$	18.84	1,841,351	2.6	$	18.84	$	—



			2,767,504	2.6	$	16.89	2,767,504	2.6	$	16.89	$	146

In accordance with ASU 2016-09, the Company reflects the net excess tax benefits of stock-based compensation in its consolidated financial statements as a component of “Cash Flows from Operating Activities.”

The Company has elected to use the long-form method under which each award grant is tracked on an employee-by-employee basis and grant-by-grant basis to determine if there is a tax benefit or tax deficiency for such award. The Company then compares the fair value expense to the tax deduction received for each grant in order to calculate the related tax benefits and deficiencies. All excess tax benefits and deficiencies are recognized as a component of income tax expense or benefit on the income statement.

The total intrinsic value of options exercised during the year ended December 31, 2023 was $1,066. Tax benefits related to option exercises of $417 were recorded as reductions to income tax expense for the year ended December 31, 2023.

Restricted Stock Awards. The Company recognizes compensation expense using the fair value method. All awards vest over a period that ranges between two and four years. For time-based share awards, the Company recognizes compensation cost net of an estimated forfeiture rate ratably using the straight-line attribution method over the expected vesting period. For performance-based share awards, the Company estimates compensation cost based on the probability of the performance condition being achieved and recognizes expense ratably using the straight-line attribution method over the expected vesting period. If all or a portion of the performance condition is not expected to be met, the appropriate amount of previously recognized compensation expense is reversed and future compensation expense is adjusted accordingly.

The Company recognized stock-based compensation expense of $10,069, $7,509 and $13,949 related to restricted stock awards for the years ended December 31, 2023, 2022 and 2021, respectively.

A summary of nonvested restricted stock award activities follows:


	Number of Shares	Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2023	1,980,000	$	12.24
Granted (1)	1,335,000	$	12.83
Vested (2)	(613,750)	$	12.37
Forfeited	—	$	—
Nonvested at December 31, 2023	2,701,250	$	12.51

_____________________________

(1)The weighted-average grant-date fair value of restricted stock awards granted during 2022 and 2021 was $11.11 and $14.31, respectively.

(2)The total fair value of restricted stock awards vested during 2023, 2022, and 2021 was $8,081, $6,125, and $7,492, respectively.

As of December 31, 2023, there was $22,566 of total unrecognized compensation costs related to unvested restricted stock awards. The cost is expected to be recognized over a weighted-average period of approximately 1.33 years.

The Company’s accounting policy is to treat dividends paid on unvested restricted stock as a reduction to additional paid-in capital on the Company’s consolidated balance sheets.

Included in the stock compensation costs for the year ended December 31, 2021, were expenses of $4,317 associated with the acceleration of stock compensation in connection with the Company’s Distribution of Douglas Elliman.

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Tax portion of revenues and cost of goods sold	$ 486,263	$ 520,760	$ 434,695

Leases (Maturities of Operating and Financing Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 4,702
2025	3,292
2026	2,675
2027	2,067
2028	1,602
Thereafter	0
Total lease payments	14,338
Less imputed interest	(2,455)
Total	11,883
Finance Leases
2024	8
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total lease payments	8
Less imputed interest	0
Total	$ 8	$ 37

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 268,600	$ 224,580
Investment securities at fair value	110,935	116,436
Accounts receivable - trade, net	26,442	40,677
Inventories	91,959	92,448
Income taxes receivable, net	0	8,454
Other current assets	11,665	9,770
Total current assets	509,601	492,365
Property, plant and equipment, net	43,380	39,580
Long-term investments (includes $29,402 and $28,919 at fair value)	46,760	44,959
Investments in real estate ventures	131,497	121,117
Operating lease right-of-use assets	11,017	7,742
Intangible assets	107,511	107,511
Other assets	84,329	95,317
Total assets	934,095	908,591
Current liabilities:
Current portion of notes payable and long-term debt	8	22,065
Current payments due under the Master Settlement Agreement	8,812	14,838
Current operating lease liability	3,706	3,551
Income taxes payable, net	717	0
Other current liabilities	131,680	135,170
Total current liabilities	144,923	175,624
Notes payable, long-term debt and other obligations, less current portion	1,371,811	1,390,261
Non-current employee benefits	67,111	63,216
Deferred income taxes, net	57,970	51,034
Non-current operating lease liability	8,177	5,469
Payments due under the Master Settlement Agreement	8,747	11,116
Other liabilities	17,170	19,748
Total liabilities	1,675,909	1,716,468
Commitments and contingencies (Notes 5 and 15)
Stockholders' deficiency:
Preferred stock, par value $1 per share, 10,000,000 shares authorized	0	0
Common stock, par value $0.1 per share, 250,000,000 shares authorized, 155,978,020 and 154,840,902 shares issued and outstanding	15,598	15,484
Additional paid-in capital	11,384	5,092
Accumulated deficit	(755,883)	(812,380)
Accumulated other comprehensive loss	(12,913)	(16,073)
Total Vector Group Ltd. stockholders' deficiency	(741,814)	(807,877)
Total liabilities and stockholders' deficiency	$ 934,095	$ 908,591

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of:


	December 31, 2023		December 31, 2022
Land and improvements	$	1,678	$	1,678
Buildings	18,911		18,792
Machinery and equipment	185,966		175,816
Leasehold improvements	1,266		1,266
	207,821		197,552
Less accumulated depreciation and amortization	(164,441)		(157,972)
	$	43,380	$	39,580

Depreciation and amortization expense related to property, plant and equipment for the years ended December 31, 2023, 2022 and 2021 was $6,738, $7,218 and $7,816, respectively.

The Company, through Liggett, had future machinery and equipment purchase commitments of $6,767 including $3,842 for factory modernization as of December 31, 2023.

Income Taxes (Income Tax Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 248,452	$ 220,562	$ 209,961
Federal income tax expense at statutory rate	52,175	46,318	44,092
Increases (decreases) resulting from:
State income taxes, net of federal income tax benefits	10,640	10,585	13,946
Non-deductible expenses	3,867	3,511	6,205
Excess tax benefits on stock-based compensation	(320)	(285)	(561)
Changes in valuation allowance, net of equity and tax audit adjustments	2	202	(504)
Other	(1,438)	1,530	(371)
Income tax expense	$ 64,926	$ 61,861	$ 62,807

Contingencies (Certain MSA Disputes) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) state	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
2003 NPM Adjustment
Loss Contingencies [Line Items]
Number of settling states with diligent enforcement not contested \| state	40
Combined allocable share, percentage	81.00%
Liggett and Vector Tobacco \| 2005-2010 NPM Adjustment
Loss Contingencies [Line Items]
Amounts accrued	$ 8,700
Liggett and Vector Tobacco \| Cost of Sales \| MSA
Loss Contingencies [Line Items]
Settlement adjustment credit	$ 14,809	$ 12,278	$ 7,896

Notes Payable, Long-Term Debt and Other Obligations (Revolving Credit and Other Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Jan. 28, 2021
Senior Notes \| 5.75% Senior Secured Notes due 2029
Debt Instrument [Line Items]
Interest rate		5.75%
Liggett, Maple and Vector Tobacco \| Revolving credit facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 90,000,000
Interest rate at end of period	7.56%
Unused commitment fee percentage	0.25%
Borrowing base limit	$ 15,000,000
Eligible trade receivables percent	85.00%
Maximum carryover amount	$ 10,000,000
Eligible inventory percent	80.00%
Inventory multiplier percent	65.00%
Appraised liquidation of inventory percent	85.00%
Fair market value of eligible real property percent	60.00%
Minimum EBITDA ratio on trailing 12-month basis	$ 150,000,000
Covenant, excess availability in credit facility threshold	30,000,000
Maximum annual capital expenditures	20,000,000
Amount outstanding	0
Current borrowing capacity	$ 84,000,000
Liggett, Maple and Vector Tobacco \| Revolving credit facility \| Secured Overnight Financing Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Liggett, Maple and Vector Tobacco \| Revolving credit facility \| Daily Simple Secured Overnight Financing Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%

Employee Benefit Plans (Future Benefit Payments) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2024	$ 5,524
2025	5,177
2026	4,860
2027	4,539
2028	72,548
2029 - 2033	23,577
Postretirement Medical
Defined Benefit Plan Disclosure [Line Items]
2024	601
2025	590
2026	579
2027	551
2028	533
2029 - 2033	$ 2,313

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

The Company has operating and finance leases for corporate and sales offices, and certain vehicles and equipment accounted for under ASC 842. The leases have remaining lease terms of less than one year to five years, some of which include options to extend for up to five years, and some of which include options to terminate the leases within one year. However, the Company in general is not reasonably certain to exercise options to renew or terminate, and therefore renewal and termination options are not considered in the lease term or the ROU asset and lease liability balances. The Company’s lease population includes purchase options on equipment leases that are included in the lease payments when reasonably certain to be exercised. The Company’s lease population does not include any residual value guarantees. The Company’s lease population does not contain any material restrictive covenants.

The Company has leases with variable payments, most commonly in the form of Common Area Maintenance (“CAM”) and tax charges which are based on actual costs incurred. These variable payments were excluded from the ROU asset and lease liability balances since they are not fixed or in-substance fixed payments. Variable payments are expensed as incurred.

The components of lease expense were as follows:


	Year Ended December 31,
	2023		2022		2021
Operating lease cost	$	4,384	$	4,405	$	4,578
Short-term lease cost	710		415		374
Variable lease cost	478		299		320

Finance lease cost:
Amortization	25		33		58
Interest on lease liabilities	2		5		9
Total lease cost	$	5,599	$	5,157	$	5,339

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31,
	2023		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	4,793	$	4,850	$	4,961
Operating cash flows from finance leases	2		5		10
Financing cash flows from finance leases	29		37		57

ROU assets obtained in exchange for lease obligations:
Operating leases	6,752		208		1,993
Finance leases	—		—		—

Supplemental balance sheet information related to leases was as follows:



	December 31,			December 31,
	2023			2022







Finance leases:


Property, plant and equipment, at cost	$	127		$	127
Accumulated amortization	(120)			(95)
Property and equipment, net	$	7		$	32

Current portion of notes payable and long-term debt	$	8		$	29
Notes payable, long-term debt and other obligations, less current portion	—			8
Total finance lease liabilities	$	8		$	37

Weighted average remaining lease term in years:
Operating leases	3.85			2.57
Finance leases	0.25			1.25

Weighted average discount rate:
Operating leases	9.78		%	9.89		%
Finance leases	8.85		%	8.85		%

As of December 31, 2023, maturities of lease liabilities were as follows:


	Operating Leases		Finance Leases
Year Ending December 31:
2024	$	4,702	$	8
2025	3,292		—
2026	2,675		—
2027	2,067		—
2028	1,602		—
Thereafter	—		—

Total lease payments	14,338		8
Less imputed interest	(2,455)		—
Total	$	11,883	$	8

The Company leases office space from an affiliate of a significant stockholder of the Company. This lease represents $1,891 of the ROU asset balances and $1,937 of lease liability balances as of December 31, 2023. The rent expense for this lease was approximately $541 for the year ended December 31, 2023.

As of December 31, 2023, the Company had $2,071 undiscounted lease payments relating to leases that have not yet commenced. The operating leases will commence in the first half of 2024 with lease terms ranging between 2 and 3 years.

The Company’s rental expense for the years ended December 31, 2023, 2022 and 2021 was $4,384, $4,405 and $4,578, respectively. Rent expense for the year ended December 31, 2023 consisted of $3,411 of amortization and $973 of lease expense for interest accretion on operating lease liabilities. Rent expense for the year ended December 31, 2022 consisted of $3,381 of amortization and $1,024 of lease expense for interest accretion on operating lease liabilities. Rent expense for the year ended December 31, 2021 consisted of $3,275 of amortization and impairment of ROU assets and $1,303 of lease expense for interest accretion on operating lease liabilities.

LEASES

The components of lease expense were as follows:


	Year Ended December 31,
	2023		2022		2021
Operating lease cost	$	4,384	$	4,405	$	4,578
Short-term lease cost	710		415		374
Variable lease cost	478		299		320

Finance lease cost:
Amortization	25		33		58
Interest on lease liabilities	2		5		9
Total lease cost	$	5,599	$	5,157	$	5,339

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31,
	2023		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	4,793	$	4,850	$	4,961
Operating cash flows from finance leases	2		5		10
Financing cash flows from finance leases	29		37		57

ROU assets obtained in exchange for lease obligations:
Operating leases	6,752		208		1,993
Finance leases	—		—		—

Supplemental balance sheet information related to leases was as follows:



	December 31,			December 31,
	2023			2022







Finance leases:


Property, plant and equipment, at cost	$	127		$	127
Accumulated amortization	(120)			(95)
Property and equipment, net	$	7		$	32

Current portion of notes payable and long-term debt	$	8		$	29
Notes payable, long-term debt and other obligations, less current portion	—			8
Total finance lease liabilities	$	8		$	37

Weighted average remaining lease term in years:
Operating leases	3.85			2.57
Finance leases	0.25			1.25

Weighted average discount rate:
Operating leases	9.78		%	9.89		%
Finance leases	8.85		%	8.85		%

As of December 31, 2023, maturities of lease liabilities were as follows:


	Operating Leases		Finance Leases
Year Ending December 31:
2024	$	4,702	$	8
2025	3,292		—
2026	2,675		—
2027	2,067		—
2028	1,602		—
Thereafter	—		—

Total lease payments	14,338		8
Less imputed interest	(2,455)		—
Total	$	11,883	$	8

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Miami, Florida
Auditor Firm ID	34

Discontinued Operations (Income (Loss) From Discontinued Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other expenses:
Income from discontinued operations	$ 0	$ 0	$ 72,119
Net loss from discontinued operations attributed to non-controlling interest	0	0	190
Net income from discontinued operations attributed to Vector Group Ltd.	0	0	72,309
Distribution \| Douglas Elliman
Revenues:
Revenues	0	0	1,344,825
Expenses:
Cost of sales	0	0	989,436
Operating, selling, administrative and general expenses	0	0	253,942
Operating income	0	0	101,447
Other expenses:
Interest expense	0	0	(164)
Equity in losses from real estate ventures	0	0	(278)
Other, net	0	0	(870)
Pretax income from discontinued operations	0	0	100,135
Income tax expense	0	0	28,016
Income from discontinued operations	0	0	72,119
Net loss from discontinued operations attributed to non-controlling interest	0	0	190
Net income from discontinued operations attributed to Vector Group Ltd.	$ 0	$ 0	$ 72,309

Summary of Significant Accounting Policies (Components of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 268,600	$ 224,580	$ 193,411
Restricted cash and cash equivalents included in other assets	1,506	25,794	1,438
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 270,106	$ 250,374	$ 194,849

Summary of Significant Accounting Policies (Schedule of Other, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Interest and dividend income	$ 23,491	$ 8,627	$ 1,920
Change in derivative associated with guarantee	0	2,646	0
Expense related to Tax Disaffiliation indemnification	0	(589)	0
Net gains (losses) recognized on investment securities	2,594	(7,980)	9,384
Net periodic benefit cost other than the service costs	(1,353)	(944)	(975)
Other income	1,387	986	358
Other, net	$ 26,119	$ 2,746	$ 10,687

Stock Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Shares
Outstanding (in shares)	3,822,819	3,822,819	3,822,819
Exercised (in shares)	(1,055,315)	0	0
Outstanding (in shares)	2,767,504	3,822,819	3,822,819	3,822,819
Options exercisable (in shares)	2,767,504	3,415,944	2,988,727
Weighted-Average Exercise Price
Outstanding (in dollars per share)	$ 15.40	$ 15.40	$ 15.40
Exercised (in dollars per share)	11.47	0	0
Outstanding (in dollars per share)	$ 16.89	$ 15.40	$ 15.40	$ 15.40
Weighted-Average Remaining Contractual Term (Years)	2 years 7 months 6 days	2 years 7 months 6 days	3 years 7 months 6 days	4 years 7 months 6 days
Outstanding, Aggregate Intrinsic Value	$ 146	$ 794	$ 238	$ 487
Common stock fair value (in dollars per share)	$ 11.28	$ 11.86	$ 11.48

Investment Securities (Gross Realized Gains and Losses on Investment Securities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Gross realized gains on sales	$ 26	$ 8	$ 108
Gross realized losses on sales	(185)	(2)	(63)
Net (losses) gains recognized on debt securities available for sale	(159)	6	45
Impairment expense	(292)	(2,975)	(276)
Net gains (losses) recognized on equity securities	3,045	(5,011)	9,615
Less: Net (losses) gains recognized on equity securities sold	(1,289)	1,198	7,534
Net unrealized gains (losses) recognized on equity securities still held at the reporting date	$ 4,334	$ (6,209)	$ 2,081

Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Contingencies

The following table lists the number of Individual Actions by state:


State						Number of Cases

Massachusetts						33
Illinois						17
Florida						10
Nevada						4
Louisiana						2
Hawaii						1

California						1
New Mexico						1
Alabama						1

The activity in the Company’s accruals for the MSA and tobacco litigation for the three years ended December 31, 2023 was 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 as of January 1, 2021	$	38,767	$	3,967	$	42,734	$	17,933	$	19,268	$	37,201
Expenses	173,786		211		173,997		—		—		—
NPM Settlement adjustment	—		—		—		—		—		—
Change in MSA obligations capitalized as inventory	(670)		—		(670)		—		—		—
Payments, net of credits received	(204,706)		(4,091)		(208,797)		—		—		—
Reclassification to/(from) non-current liabilities	4,709		3,351		8,060		(4,709)		(3,351)		(8,060)
Interest on withholding	—		480		480		—		1,763		1,763
Balance as of December 31, 2021	11,886		3,918		15,804		13,224		17,680		30,904
Expenses	278,327		239		278,566		—		—		—
NPM Settlement adjustment	(15)		—		(15)		(2,108)		—		(2,108)
Change in MSA obligations capitalized as inventory	2,634		—		2,634		—		—		—
Payments, net of credits received	(277,994)		(7,948)		(285,942)		—		—		—
Reclassification to/(from) non-current liabilities	—		3,566		3,566		—		(3,566)		(3,566)
Interest on withholding	—		521		521		—		2,003		2,003
Balance as of December 31, 2022	14,838		296		15,134		11,116		16,117		27,233
Expenses	272,212		18,799		291,011		—		—		—
NPM Settlement adjustment	—		—		—		(734)		—		(734)
Change in MSA obligations capitalized as inventory	(97)		—		(97)		—		—		—
Payments, net of credits received	(279,776)		(22,768)		(302,544)		—		—		—
Reclassification to/(from) non-current liabilities	1,635		3,707		5,342		(1,635)		(3,707)		(5,342)
Interest on withholding	—		317		317		—		1,475		1,475
Balance as of December 31, 2023	$	8,812	$	351	$	9,163	$	8,747	$	13,885	$	22,632

Revenue Recognition

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Disaggregation of Revenue

The Company disaggregates revenues by segment.

Tobacco. Tobacco segment revenues are not disaggregated because all revenues are generated from the discount segment of the U.S. cigarette industry.

Real Estate. Real Estate segment revenues are disaggregated in the table below. The Real Estate segment includes the Company’s investment in New Valley, investments in real estate ventures and, prior to April 2022 when Escena was sold, included investments in real estate. After the sale of Escena, the Company has no revenues from its real estate segment.


	Year Ended December 31,
	2023		2022		2021
Real Estate Segment Revenues
Sales on facilities primarily from Escena	$	—	$	3,259	$	5,353
Revenues from investments in real estate	—		12,625		12,850
Total real estate revenues	$	—	$	15,884	$	18,203

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Consolidated Statement of Stockholders' Deficiency (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Distributions and dividends on common stock (in dollars per share)	$ 0.80	$ 0.80	$ 0.80

Investment Securities (Maturity Dates of Marketable Debt Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 73,225	$ 81,643
Total debt securities available for sale by maturity dates
Debt Securities, Available-for-sale [Line Items]
Fair Value	73,225
Under 1 Year	42,581
1 Year up to 5 Years	30,644
More than 5 Years	0
U.S. Government securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	38,657
Under 1 Year	9,647
1 Year up to 5 Years	29,010
More than 5 Years	0
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	12,042
Under 1 Year	12,042
1 Year up to 5 Years	0
More than 5 Years	0
U.S. mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	17,358
Under 1 Year	15,724
1 Year up to 5 Years	1,634
More than 5 Years	0
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Fair Value	5,168
Under 1 Year	5,168
1 Year up to 5 Years	0
More than 5 Years	$ 0

Notes Payable, Long-Term Debt and Other Obligations

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

NOTES PAYABLE, LONG-TERM DEBT AND OTHER OBLIGATIONS

Notes payable, long-term debt and other obligations consisted of:


	December 31, 2023		December 31, 2022
Vector:
5.75% Senior Secured Notes due 2029	$	875,000	$	875,000

10.5% Senior Notes due 2026, net of unamortized discount of $1,719 and $2,209	516,973		539,926

Liggett:
Revolving credit facility	—		22,035

Equipment loans	8		37

Total notes payable, long-term debt and other obligations	1,391,981		1,436,998
Less:
Debt issuance costs	(20,162)		(24,672)
Total notes payable, long-term debt and other obligations	1,371,819		1,412,326
Less:
Current maturities	(8)		(22,065)
Amount due after one year	$	1,371,811	$	1,390,261

Vector:

6.125% Senior Secured Notes due 2025:

On February 1, 2021, the 6.125% Senior Secured Notes due 2025, which had an aggregate principal amount of $850,000, were redeemed in full and the Company recorded a loss on the extinguishment of debt of $21,362 in 2021, including $13,013 of premium and $8,349 of other costs and non-cash interest expense related to the recognition of previously unamortized deferred finance costs.

5.75% Senior Secured Notes due 2029:

On January 28, 2021, the Company completed the sale of $875,000 in aggregate principal amount of its 5.75% Senior Secured Notes due 2029 (“5.75% Senior Secured Notes”) to qualified institutional buyers and non-U.S. persons in a private offering pursuant to the exemptions from the registration requirements of the Securities Act 1933 (“Securities Act”) contained in Rule 144A and Regulation S under the Securities Act. The aggregate net cash proceeds from the sale of the 5.75% Senior Secured Notes were approximately $855,500 after deducting the initial purchaser’s discount and estimated expenses and fees payable by the Company in connection with the offering. The Company used the net cash proceeds from the 5.75% Senior Secured Notes offering, together with cash on hand, to redeem all the Company’s outstanding 6.125% Senior Secured Notes due 2025, including accrued interest and any premium thereon, and to pay fees and expenses in connection with the offering of the 5.75% Senior Secured Notes.

The 5.75% Senior Secured Notes pay interest on a semi-annual basis at a rate of 5.75% per year and mature on the earlier of February 1, 2029 and the date that is 91 days before November 1, 2026, the final stated maturity date of the 10.5% Senior Notes due 2026 (“10.5% Senior Notes”) if such 10.5% Senior Notes have not been repurchased and cancelled or refinanced by such date.

The 5.75% Senior Secured Notes are fully and unconditionally guaranteed, subject to certain customary automatic release provisions, on a joint and several basis by all the wholly owned domestic subsidiaries of the Company that are engaged in the conduct of the Company’s cigarette businesses, which subsidiaries, as of the issuance date of the 5.75% Senior Secured Notes were also guarantors under the Company’s outstanding 10.5% Senior Notes. The guarantees provided by certain of the guarantors are secured by first priority or second priority security interests in certain collateral of such guarantors, including, in the case of VGR Holding LLC, a pledge of the membership interests of Liggett and Vector Tobacco, pursuant to security and pledge agreements, subject to certain permitted liens and exceptions as further described in the indenture and the security documents relating thereto. Neither New Valley LLC nor any of the Company’s subsidiaries engaged in the real estate business guarantee the 5.75% Senior Secured Notes. The Company does not pledge any collateral for the 5.75% Senior Secured Notes.

As of December 31, 2023, the Company was in compliance with all debt covenants.

10.5% Senior Notes due 2026:

On November 2, 2018, the Company completed the sale of $325,000 in aggregate principal amount of its 10.5% Senior Notes to qualified institutional buyers and non-U.S. persons in a private offering pursuant to the exemptions from the registration requirements of the Securities Act contained in Rule 144A and Regulation S under the Securities Act. The aggregate net proceeds from the initial sale of the 10.5% Senior Notes were approximately $315,000 after deducting underwriting discounts, commissions, fees and offering expenses.

On November 18, 2019, the Company completed the sale of an additional $230,000 in aggregate principal amount of its 10.5% Senior Notes. The Company received net proceeds of approximately $220,400 after deducting underwriting discounts, commissions, fees and offering expenses. The Company used a portion of the net cash proceeds from the offering to retire the Company’s outstanding 5.5% Variable Interest Senior Convertible Notes in April 2020.

For the years ended December 31, 2023 and 2022, the Company repurchased in the market $23,443 and $12,865, respectively, in aggregate principal amount of its 10.5% Senior Notes outstanding and recorded a loss of $549 and a gain of $412, respectively. The Senior Notes that were repurchased have been retired.

The Company pays cash interest on the 10.5% Senior Notes at a rate of 10.5% per year, payable semi-annually on May 1 and November 1 of each year. The 10.5% Senior Notes mature on November 1, 2026.

The 10.5% Senior Notes were fully and unconditionally guaranteed subject to certain customary automatic release provisions on a joint and several basis by all the Company’s wholly owned domestic subsidiaries that are engaged in the conduct of its cigarette businesses, and, prior to the Distribution, by DER Holdings LLC, through which the Company indirectly owned a 100% interest in Douglas Elliman as of December 31, 2023. In connection with the Distribution, the guarantee by DER Holdings LLC was released. DER Holdings LLC did not guarantee our 5.75% Senior Secured Notes.

As of December 31, 2023, the Company was in compliance with all debt covenants.

Revolving Credit Agreement — Liggett:

Liggett, 100 Maple LLC (“Maple”), a subsidiary of Liggett, and Vector Tobacco are party to the Credit Agreement with Wells Fargo, as agent and lender, which provides a maximum credit line of $90,000 and matures on March 22, 2026.

Loans under the Credit Agreement bear interest at a rate equal to, at the borrower’s option, (a) the base rate, (b) Term SOFR for the applicable interest period plus 2.25% or (c) Daily Simple SOFR plus 2.25%, where “SOFR” means the Secured Overnight Financing Rate. The interest rate as of December 31, 2023 was 7.56%. An unused line fee is also payable on the average undrawn commitments at a rate of 0.25%, regardless of the amount borrowed under the facility.

Borrowings are limited by a borrowing base equal to the sum of (a) the lesser of (i) 85% of eligible trade receivables less certain reserves and (ii) $15,000; plus (b) 80% of the value of eligible inventory consisting of packaged cigarettes; plus (c) the designated percentage of the value of eligible inventory consisting of leaf tobacco (i.e., 65% of Liggett’s eligible cost of inventory consisting of leaf tobacco less certain reserves or 85% of the net orderly liquidation value of eligible inventory); plus (d) the lesser of (i) the real property subline amount or (ii) 60% of the fair market value of eligible real property.

The obligations under the Credit Agreement are collateralized on a first priority basis by all inventories, receivables and certain other personal property of Liggett, Maple, and Vector Tobacco, and a mortgage on Liggett’s manufacturing facility and certain real property of Maple, subject to certain permitted liens.

Wells Fargo, Liggett, Maple, Vector Tobacco and the collateral agent for the holders of the 5.75% Senior Secured Notes have entered into an intercreditor agreement, pursuant to which the liens of such collateral agent on the assets that are subject to the Credit Agreement are subordinated to the liens of Wells Fargo on such assets.

The Credit Agreement contains customary affirmative and negative covenants, including covenants that limit the incurrence of indebtedness and liens, the acquisition of investments, the making of dividends and certain mergers, consolidations and asset sales. The Credit Agreement also contains financial covenants, including (a) a requirement that the Tobacco segment’s earnings before interest, taxes, depreciation and amortization, as defined under the Credit Agreement, on a trailing twelve month basis, shall not be less than $150,000 if the Tobacco segment’s excess availability, as defined under the Credit Agreement, is less than $30,000, and (b) a requirement that annual capital expenditures, as defined under the Credit Agreement (before a maximum carryover amount of $10,000), shall not exceed $20,000 during any fiscal year. The Credit Agreement also contains customary events of default. The borrowers were in compliance with these covenants as of December 31, 2023.

As of December 31, 2023, there was no outstanding balance due under the Credit Agreement. Availability, as determined under the Credit Agreement, was $84,000 based on eligible collateral as of December 31, 2023.

Non-Cash Interest Expense — Vector:


	Year Ended December 31,
	2023		2022		2021

Amortization of debt discount, net	$	490	$	439	$	393
Amortization of debt issuance costs	4,371		4,102		3,775
Loss (gain) on repurchase of 10.5% Senior Notes	549		(412)		—
Loss on extinguishment of 6.125% Senior Secured Notes	—		—		8,349
	$	5,410	$	4,129	$	12,517

Fair Value of Notes Payable and Long-Term Debt:

The estimated fair value of the Company’s notes payable and long-term debt was as follows:


	December 31, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.75% Senior Secured Notes due 2029	$	875,000	$	800,126	$	875,000	$	758,993
10.5% Senior Notes due 2026	516,973		522,194		539,926		537,202

Liggett and other	8		8		22,072		22,072
Notes payable and long-term debt	$	1,391,981	$	1,322,328	$	1,436,998	$	1,318,267

Notes payable and long-term debt are recorded on the consolidated balance sheets at amortized cost. The fair value determinations disclosed above would be classified as Level 2 under the fair value hierarchy disclosed in Note 18 if such liabilities were recorded on the consolidated balance sheets 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 Note 1. The Company used a derived price based upon quoted market prices and trade activity as of December 31, 2023 to determine the fair value of its publicly traded notes and debentures. The carrying value of the revolving credit facility is equal to the fair value. The fair value of the equipment loans 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.

Scheduled Maturities:

Scheduled maturities of notes payable and long-term debt were as follows:


	Principal		Unamortized Discount/ (Premium)		Net
Year Ending December 31:
2024	$	8	$	—	$	8
2025	—		—		—
2026	518,692		1,719		516,973
2027	—		—		—
2028	—		—		—
Thereafter	875,000		—		875,000
Total	$	1,393,700	$	1,719	$	1,391,981

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax

The amounts provided for income taxes were as follows:


	Year Ended December 31,
	2023		2022		2021
Current:
U.S. Federal	$	47,991	$	35,733	$	33,398
State	11,003		10,902		14,945
	58,994		46,635		48,343
Deferred:
U.S. Federal	5,301		11,079		11,399
State	631		4,147		3,065
	5,932		15,226		14,464
Total	$	64,926	$	61,861	$	62,807

Schedule of Deferred Tax Assets and Liabilities

The tax effect of temporary differences which give rise to a significant portion of deferred tax assets and liabilities is as follows:


	December 31, 2023		December 31, 2022
Deferred tax assets:
Employee benefit accruals	$	6,452	$	7,471
Impairment of investments	6,451		12,342
Impact of timing of settlement payments	6,210		9,054

Various U.S. federal and state tax loss carryforwards	1,284		1,828
Operating lease liabilities	3,000		2,328
Current expected credit losses	4,020		4,111
Other	2,564		3,000
	29,981		40,134
Less: Valuation allowance	(552)		(550)
Net deferred tax assets	$	29,429	$	39,584

Deferred tax liabilities:
Basis differences on non-consolidated entities	$	(38,413)	$	(39,884)
Basis differences on fixed and intangible assets	(33,354)		(34,794)

Basis differences on inventory	(9,776)		(11,165)
Basis differences on long-term investments	(1,943)		(2,777)


Operating lease right of use assets	(2,781)		(1,998)
Other	(1,132)		—
	$	(87,399)	$	(90,618)

Net deferred tax liabilities	$	(57,970)	$	(51,034)

Schedule of Effective Income Tax Rate Reconciliation

Differences between the amounts provided for income taxes and amounts computed at the federal statutory tax rate are summarized as follows:


	Year Ended December 31,
	2023		2022		2021
Income before provision for income taxes	$	248,452	$	220,562	$	209,961
Federal income tax expense at statutory rate	52,175		46,318		44,092
Increases (decreases) resulting from:
State income taxes, net of federal income tax benefits	10,640		10,585		13,946

Non-deductible expenses	3,867		3,511		6,205


Excess tax benefits on stock-based compensation	(320)		(285)		(561)


Changes in valuation allowance, net of equity and tax audit adjustments	2		202		(504)

Other	(1,438)		1,530		(371)
Income tax expense	$	64,926	$	61,861	$	62,807

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to the unrecognized tax benefits:


Balance at January 1, 2021	$	1,653

Additions based on tax positions related to prior years	1,640

Settlements	(1,065)
Expirations of the statute of limitations	(19)
Balance at December 31, 2021	2,209

Additions based on tax positions related to prior years	1,409

Settlements	—
Expirations of the statute of limitations	(351)
Balance at December 31, 2022	3,267

Additions based on tax positions related to prior years	1,453

Settlements	(1,456)
Expirations of the statute of limitations	(266)
Balance at December 31, 2023	$	2,998

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Cash Flow Information


	Year Ended December 31,
	2023		2022		2021
Cash paid during the period for:
Interest, including interest related to finance leases	$	109,449	$	112,759	$	111,759
Income taxes, net	50,189		42,426		92,698

Discontinued Operations (Cash Flow From Discontinued Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Depreciation and amortization	$ 0	$ 0	$ 8,561
Non-cash lease expense	0	0	18,667
Capital expenditures	$ 0	$ 0	$ (4,106)

Notes Payable, Long-Term Debt and Other Obligations (Schedule of Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Principal
2024	$ 8
2025	0
2026	518,692
2027	0
2028	0
Thereafter	875,000
Total	1,393,700
Unamortized Discount/ (Premium)
2024	0
2025	0
2026	1,719
2027	0
2028	0
Thereafter	0
Total	1,719
Net
2024	8
2025	0
2026	516,973
2027	0
2028	0
Thereafter	875,000
Total	$ 1,391,981	$ 1,436,998

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 183,526	$ 158,701	$ 219,273
Net unrealized gains (losses) on investment securities available for sale:
Change in net unrealized losses	(175)	(3,022)	(747)
Net unrealized losses reclassified into net income	451	2,969	232
Net unrealized gains (losses) on investment securities available for sale	276	(53)	(515)
Net change in pension-related amounts:
Amortization of prior service costs	8	8	(44)
Net gain (loss) arising during the year	3,005	(2,031)	5,967
Amortization of loss	970	1,605	1,921
Net change in pension-related amounts	3,983	(418)	7,844
Other comprehensive income (loss)	4,259	(471)	7,329
Income tax effect on:
Change in net unrealized losses on investment securities	45	780	202
Net unrealized losses reclassified into net income on investment securities	(116)	(766)	(63)
Pension-related amounts	(1,028)	107	(2,117)
Income tax (provision) benefit on other comprehensive income (loss)	(1,099)	121	(1,978)
Other comprehensive income (loss), net of tax	3,160	(350)	5,351
Comprehensive income	186,686	158,351	224,624
Comprehensive loss attributed to non-controlling interest	0	0	190
Comprehensive income attributed to Vector Group Ltd.	$ 186,686	$ 158,351	$ 224,814

Employee Benefit Plans (Defined Benefit Plan Assumptions Used) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Assumed rates of return on invested assets	6.25%	3.50%	3.50%
Pension Benefits \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rates — benefit obligation	4.95%	4.90%	1.80%
Discount rates — service cost	4.90%	1.80%	1.40%
Pension Benefits \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rates — benefit obligation	5.35%	5.30%	2.70%
Discount rates — service cost	5.30%	2.70%	2.30%
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rates — benefit obligation	5.40%	5.40%	2.85%
Discount rates — service cost	5.40%	2.85%	2.55%
Salary increase assumptions	3.00%	3.00%	3.00%

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The Consolidated Financial Statements included in this annual report present the financial position of Vector Group Ltd. (the “Company” or “Vector”) as of December 31, 2023 and 2022 and the results of operations of the Company for the years ended December 31, 2023, 2022 and 2021 giving effect to the Distribution of Douglas Elliman Inc. (“Douglas Elliman”) with the historical financial results of Douglas Elliman reflected as discontinued operations (See Note 6.). The cash flows and comprehensive income related to Douglas Elliman have not been segregated and are included in the Consolidated Statements of Cash Flows and Consolidated Statements of Comprehensive Income, respectively, for all periods presented. Unless otherwise indicated, the information in the Notes to the Consolidated Financial Statements refers only to the Company’s continuing operations and does not include discussion of balances or activity of Douglas Elliman. The consolidated financial statements of the Company include the accounts of Liggett Group LLC (“Liggett”), Vector Tobacco LLC (“Vector Tobacco”), Liggett Vector Brands LLC (“Liggett Vector Brands”), New Valley LLC (“New Valley”) and other less significant subsidiaries. New Valley includes the accounts of other less significant subsidiaries. All significant intercompany balances and transactions have been eliminated. Liggett and Vector Tobacco are engaged in the manufacture and sale of cigarettes in the U.S. Liggett Vector Brands coordinates Liggett and Vector Tobacco’s sales and marketing efforts. Certain references to “Liggett” refer to the Company’s tobacco operations, including the business of Liggett and Vector Tobacco, unless otherwise specified. New Valley is engaged in the real estate business.
Estimates and Assumptions	Estimates and Assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant estimates subject to material changes in the near term include impairment charges, valuation of intangible assets, promotional accruals, actuarial assumptions of pension plans, deferred tax liabilities, settlement accruals, valuation of investments, including other-than-temporary impairments to such investments, and litigation and defense costs. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents: Cash includes cash on hand, cash on deposit in banks, and money market accounts. Cash equivalents include short-term investments which have an original maturity of 90 days or less. Interest income from short-term investments is recognized when earned. The Company deposits its cash and cash equivalents at large financial institutions, including commercial banks and broker-dealers. The Federal Deposit Insurance Corporation and Securities Investor Protection Corporation insure these balances, up to $250 and $500, respectively. Substantially all cash balances as of December 31, 2023 are uninsured.
Reconciliation of Cash, Cash Equivalents and Restricted Cash	Reconciliation of Cash, Cash Equivalents and Restricted Cash: Restricted cash amounts included in other current assets and other assets represent cash and cash equivalents required to be deposited into escrow for bonds required to appeal adverse product liability judgments, amounts required for letters of credit related to office leases, and certain deposit requirements for banking arrangements. The restrictions related to the appellate bonds will remain in place until the appeal process has been completed. The restrictions related to the letters of credit will remain in place for the duration of the respective lease. The restrictions related to the banking arrangements will remain in place for the duration of the arrangement.
Investment Securities	Investment Securities: The Company classifies investments in debt securities as available for sale. Investments classified as available for sale are recorded at fair value, with net unrealized gains and losses included as a separate component of stockholders’ deficiency. The cost of securities sold is determined based on average cost. Gains are recognized when realized in the Company’s consolidated statements of operations. Losses are recognized as realized or upon the determination of the occurrence of an other-than-temporary decline in fair value. The Company’s policy is to review its securities on a periodic basis to evaluate whether any security has experienced an other-than-temporary decline in fair value. If it is determined that an other-than-temporary decline exists in one of the Company’s debt securities, it is the Company’s policy to record an impairment charge with respect to such investment in the Company’s consolidated statements of operations. The Company classifies investments in marketable equity securities as equity securities at fair value. The Company’s marketable equity securities are measured at fair value with changes in fair value recognized in net income. Gains and losses are recognized when realized in the Company’s consolidated statements of operations. Investments in marketable equity securities represent less than a 20 percent interest in the investees and the Company does not exercise significant influence over such entities.
Significant Concentrations of Credit Risk	Significant Concentrations of Credit Risk: Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade receivables. The Company places its temporary cash in money market securities (investment grade or better) with, what management believes, high credit quality financial institutions. Liggett’s customers are primarily wholesalers and distributors of tobacco and convenience products as well as large grocery, drug and convenience store chains. Two customers accounted for 13% and 10% of Liggett’s revenues in 2023, 15% and 11% in 2022 and 14% and 12% in 2021. Concentrations of credit risk with respect to trade receivables are generally limited due to Liggett’s large number of customers. Liggett’s two largest customers represented approximately 4% and 8%, respectively, of Liggett’s net accounts receivable as of December 31, 2023, and approximately 4% and 37%, respectively, as of December 31, 2022. Ongoing credit evaluations of customers’ financial condition are performed and, generally, no collateral is required. Liggett maintains reserves for potential credit losses and such losses, in the aggregate, have not exceeded management’s expectations.
Accounts Receivable - trade, net	Accounts Receivable - trade, net: Accounts receivable-trade are recorded net of an allowance for credit losses and cash discounts. The Company estimates the allowance for credit losses based on historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic conditions, supportable forecasts of future economic condition, and other factors that may affect our ability to collect from customers. The allowance for credit losses and cash discounts was $548 and $838 as of December 31, 2023 and 2022, respectively. Uncollectible accounts are written off when the likelihood of collection is remote and when collection efforts have been abandoned.
Inventories	Inventories:Tobacco inventories are stated at the lower of cost and net realizable value with cost determined primarily by the last-in, first-out (LIFO) method at Liggett and Vector Tobacco. Although portions of leaf tobacco inventories may not be used or sold within one year because of the time required for aging, they are included in current assets, which is common practice in the industry.
Property, Plant and Equipment	Property, Plant and Equipment: Property, plant and equipment are stated at cost. Property, plant and equipment are depreciated using the straight-line method over the estimated useful lives of the respective assets, which are 20 to 30 years for buildings and 3 to 10 years for machinery and equipment. Repairs and maintenance costs are charged to expense as incurred. The costs of major renewals and betterments are capitalized. The cost and related accumulated depreciation of property, plant and equipment are removed from the accounts upon retirement or other disposition and any resulting gain or loss is reflected in operations. The cost of leasehold improvements is amortized over the lesser of the related leases or the estimated useful lives of the improvements. Costs of major additions and betterments are capitalized, while expenditures for routine maintenance and repairs are charged to expense as incurred.
Investment in Real Estate Ventures	Investments in Real Estate Ventures: In accounting for its investments in real estate ventures, the Company identified its participation in Variable Interest Entities (“VIE”), which are defined as (a) entities in which the equity investment at risk is not sufficient to finance its activities without additional subordinated financial support; (b) as a group, the equity investors at risk lack 1) the power to direct the activities of a legal entity that most significantly impact the entity’s economic performance, 2) the obligation to absorb the expected losses of the entity, or 3) the right to receive the expected residual returns of the entity; or (c) as a group, the equity investors have voting rights that are not proportionate to their economic interests and the entity’s activities involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company’s interest in VIEs is primarily in the form of equity ownership. The Company examines specific criteria and uses judgment when determining if the Company is the primary beneficiary of a VIE. Factors considered include risk and reward sharing, experience and financial condition of other partner(s), voting rights, involvement in day-to-day capital and operating decisions, representation on a VIE’s executive committee, existence of unilateral kick-out rights exclusive of protective rights or voting rights and level of economic disproportionality between the Company and its other partner(s). Accounting guidance requires the consolidation of VIEs in which the Company is the primary beneficiary. The guidance requires consolidation of VIEs that an enterprise 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 impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from 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 VIE, any unfunded capital commitments to the VIE, and, in some cases, guarantees in connection with debt on the specific project. The Company’s maximum exposure to loss in its investment in 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. On a quarterly basis, the Company evaluates its investments in real estate ventures to determine if there are indicators of impairment. If so, the Company further investigates to determine if an impairment has occurred and whether such impairment is considered temporary or other than temporary. The Company believes that the assessment of temporary or other-than-temporary impairment includes judgment and all relevant facts and circumstances.
Intangible Assets	Intangible Assets: Intangible assets with indefinite lives are not amortized, but instead are tested for impairment at least annually as of December 31 and monitored for interim triggering events on an on-going basis. Our intangible asset associated with the benefit under the Master Settlement Agreement (“MSA”) relates to the market share payment exemption of The Medallion Company Inc. (now known as Vector Tobacco LLC), acquired in April 2002, under the MSA, which states payments under the MSA continue in perpetuity. As a result, the Company believes it will realize the benefit of the exemption for the foreseeable future. The fair value of the intangible asset associated with the benefit under the MSA is calculated using discounted cash flows. This approach involves two steps: (i) estimating future cash savings due to the payment exemption under the MSA and (ii) discounting the resulting cash flow savings to determine fair value. This fair value is then compared with the carrying value of the intangible asset associated with the benefit under the MSA. To the extent that the carrying amount exceeds the implied fair value of the intangible asset, an impairment loss is recognized.
Impairment Long-Lived Assets	Impairment of Long-Lived Assets: The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company performs a test for recoverability, comparing projected undiscounted cash flows to the carrying value of the asset group to determine if impairment exists. If impairment is determined to exist, any related impairment loss is calculated based on fair value of the asset based on discounted cash flow. Impairment losses on assets to be disposed of, if any, are based on the estimated proceeds to be received, less costs of disposal. Additionally, the Company performs impairment reviews on its long-term investments that are classified as equity securities without readily determinable fair values that do not qualify for the net asset value (“NAV”) practical expedient. On a quarterly basis, the Company evaluates the investments to determine if there are indicators of impairment. If so, a determination is made of whether there is an impairment and if it is considered temporary or other than temporary. The assessment of temporary or other-than-temporary impairment includes judgment and all relevant facts and circumstances. The impairment indicators that are taken into consideration as part of the analysis include (a) a significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee, (b) a significant adverse change in the regulatory, economic, or technological environment of the investee, (c) a significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates, and (d) factors that raise significant concerns about the investee’s ability to continue as a going concern, such as negative cash flows from operations, working capital deficiencies, or noncompliance with statutory capital requirements or debt covenants.
Leases	Leases: The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and lease liabilities on the Company’s consolidated balance sheets. Finance leases are included in investments in real estate, net, property, plant and equipment and current and long-term portions of notes payable and long-term debt on the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the duration of the lease term. Lease liabilities represent the Company’s obligation to make lease payments as determined by the lease agreement. Lease liabilities are recorded at commencement for the net present value of future lease payments over the lease term. The discount rate used is generally the Company’s estimated incremental borrowing rate unless the lessor’s implicit rate is readily determinable. Discount rates are calculated periodically to estimate the rate the Company would pay to borrow the funds necessary to obtain an asset of similar value, over a similar term, with a similar security. ROU assets are recorded and recognized at commencement for the lease liability amount, initial direct costs incurred and are reduced for lease incentives received. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Finance lease cost is recognized on a straight-line basis over the shorter of the useful life of the asset and the lease term. The Company has lease agreements with lease and non-lease components; the Company has elected the accounting policy to combine lease and non-lease components for all underlying asset classes.
Pension, Postretirement and Postemployment Benefit Plans	Pension, Postretirement and Postemployment Benefits Plans: The cost of providing retiree pension benefits, health care and life insurance benefits is actuarially determined and accrued over the service period of the active employee group. The Company recognizes the funded status of each defined benefit pension plan, retiree health care and other postretirement benefit plans and postemployment benefit plans on the Company’s consolidated balance sheets. (See Note 12).
Stock Options and Awards	Stock Options and Awards: The Company accounts for employee stock compensation plans by measuring compensation cost for share-based payments at fair value at the grant date. The fair value is recognized as compensation expense over the vesting period on a straight-line basis. The terms of certain stock options and restricted stock awarded under the 2023 Management Incentive Plan (the “2023 Plan”), the 2014 Management Incentive Plan (the “2014 Plan”) and the Amended and Restated 1999 Long-Term Incentive Plan (the “1999 Plan”) provide for common stock dividend equivalents (paid in cash at the same rate as paid on the common stock) with respect to the shares underlying the unvested portion of the options and restricted stock. The Company recognizes payments of the dividend equivalent rights on these options and restricted stock on the Company’s consolidated balance sheets as reductions in additional paid-in capital until fully utilized and then accumulated deficit ($3,463, $4,239 and $3,832, net of income taxes, for the years ended December 31, 2023, 2022 and 2021, respectively), which are included as “Distributions and dividends on common stock” in the Company’s consolidated statement of stockholders’ deficiency.
Income Taxes	Income Taxes: The Company accounts for income taxes under the liability method and records deferred taxes for the impact of temporary differences between the amounts of assets and liabilities recognized for financial reporting purposes and the amounts recognized for tax purposes as well as tax credit carryforwards and loss carryforwards. These deferred taxes are measured by applying the enacted tax rates relative to when the deferred item is expected to reverse. A valuation allowance reduces deferred tax assets when it is deemed more likely than not that some portion or all deferred tax assets will not be realized. A current tax provision is recorded for income taxes currently payable. The Company accounts for uncertainty in income taxes by recognizing the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. If the tax position meets the more-likely-than-not recognition threshold, the tax effect is recognized at the largest amount of the benefit that is greater than 50% likely of being realized upon ultimate settlement. The guidance requires that a liability created for unrecognized deferred tax benefits shall be presented as a liability and not combined with deferred tax liabilities or assets. The Company classifies all tax-related interest and penalties as income tax expense.
Distributions and Dividends on Common Stock	Distributions and Dividends on Common Stock: The Company records distributions on its common stock as dividends in its consolidated statement of stockholders’ deficiency to the extent of retained earnings. Any amounts exceeding retained earnings are recorded as a reduction to additional paid-in-capital to the extent paid-in-capital is available and then to accumulated deficit. The Company’s stock dividends are recorded as stock splits and given retroactive effect to earnings per share for all years presented.
Revenue Recognition	Revenue Recognition: Tobacco: Revenue from cigarette sales, which include federal excise taxes billed to customers, are recognized upon shipment of cigarettes when control has passed to the customer. Average collection terms for Tobacco sales range between three and twelve days from the time that the cigarettes are shipped to the customer. The Company records an allowance for goods estimated to be returned in other current liabilities and the associated receivable for anticipated federal excise tax refunds in other current assets on the consolidated balance sheets. The allowance for returned goods is based principally on sales volumes and historical return rates. The estimated costs of sales incentives, including customer incentives and trade promotion activities, are based principally on historical experience and are accounted for as reductions in Tobacco revenue. Expected payments for sales incentives are included in other current liabilities on the Company’s consolidated balance sheets. The Company accounts for shipping and handling costs as fulfillment costs as part of its cost of sales. Tobacco Shipping and Handling Fees and Costs: Shipping and handling fees related to sales transactions are neither billed to customers nor recorded as revenue. Shipping and handling costs were $8,453 in 2023, $8,747 in 2022 and $7,006 in 2021. Real estate: Revenue from facilities primarily related to Escena and consisted of revenues from food and beverage sales, fees charged for gameplay and the sale of golf related equipment and apparel. Revenue is recognized at the time of sale. See Note 10 for details of the Escena investment. In April 2022, New Valley sold Escena and received approximately $15,300 in net cash proceeds. The Company recognized the revenue in accordance with the scope of ASC Topic 606 since New Valley has no continuing investment or involvement. The sale was presented as revenue and the cost of the investment as cost of sales on the consolidated statements of operations. Revenue from investments in real estate is recognized from land and building sales at the time of the closing of a sale, which is typically when cash is due, the performance obligation is satisfied as the title to and possession of the real estate asset are transferred to the buyer and the Company has no further obligations or involvement in the real estate asset.
Advertising	Advertising: Tobacco advertising costs, which are expensed as incurred and included within operating, selling, administration and general expenses, were $5,227, $4,748 and $4,464 for the years ended December 31, 2023, 2022 and 2021, respectively.
Comprehensive Income	Comprehensive Income: The Company presents net income and other comprehensive income in two separate, and consecutive, statements. The items are presented before related tax effects with detailed amounts shown for the income tax expense or benefit related to each component of other comprehensive income.
Contingencies	Contingencies: 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. As discussed in Note 15, legal proceedings covering a wide range of matters are pending or threatened in various jurisdictions against Liggett and the Company. At the present time, while it is reasonably possible that an unfavorable outcome in a case may occur, except as disclosed in Note 15: (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 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. The Company records Liggett’s product liability legal expenses as operating, selling, administrative and general expenses as those costs are incurred.
New Accounting Pronouncements	New Accounting Pronouncements: Accounting Standards Updates (“ASUs”) adopted in 2023: In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires that an acquirer recognize and measure contract assets and contract liabilities in a business combination in accordance with Topic 606. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of this update did not have a material impact on the Company’s consolidated financial statements. ASUs to be adopted in future periods: In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures. The ASU requires that all public entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. The ASU requires that all public entities improve the reportable segment disclosure primarily through enhanced disclosures about significant segment expenses. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. SEC Proposed Rules On March 21, 2022, the SEC proposed rule changes that would require registrants to provide certain climate-related information in their registration statements and annual reports. The proposed rules would require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks would also include disclosure of a registrant's greenhouse gas emissions, which have become a commonly used metric to assess a registrant's exposure to such risks. In addition, under the proposed rules, certain climate-related financial metrics would be required in a registrant's audited financial statements. The Company is currently evaluating the impact of the proposed rule changes.
Earnings Per Share	Basic EPS is computed by dividing net income available to common stockholders attributed to Vector Group Ltd. by the weighted-average number of shares outstanding, which includes vested restricted stock.

Stock Compensation (Summary of Nonvested Restricted Stock Award Activities) (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares
Nonvested beginning balance (in shares)	1,980,000
Granted (in shares)	1,335,000
Vested (in shares)	(613,750)
Forfeited (in shares)	0
Nonvested ending balance (in shares)	2,701,250	1,980,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested beginning balance (in dollars per share)	$ 12.24
Granted (in dollars per share)	12.83	$ 11.11	$ 14.31
Vested (in dollars per share)	12.37
Forfeitures (in dollars per share)	0
Nonvested ending balance (in dollars per share)	$ 12.51	$ 12.24
Fair value of restricted stock vested	$ 8,081	$ 6,125	$ 7,492

Current Expected Credit Losses (Reconciliation) (Details) - Affiliated Entity - New Valley - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 15,928	$ 15,928
Current Period Provision	0	0
Write-offs	0	0
Recoveries	0	0
Ending balance	$ 15,928	$ 15,928

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Employee Benefit Plans (Pension Plan Assets Fair Value Measurements) (Details) - Pension Benefits - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 87,556	$ 84,058	$ 104,545
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	118	85
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,535	1,679
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,535	1,679
Insurance contracts \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance contracts \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,535	1,679
Insurance contracts \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash, mutual funds and common stock
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	118	85
Cash, mutual funds and common stock \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	118	85
Cash, mutual funds and common stock \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash, mutual funds and common stock \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Common collective trusts at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	85,903	82,294
Common collective trusts at NAV \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Common collective trusts at NAV \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Common collective trusts at NAV \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Summary of Significant Accounting Policies (Other Current Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Accounts payable	$ 6,749	$ 6,351
Accrued promotional expenses	51,146	56,645
Accrued excise and payroll taxes payable, net	13,144	17,160
Accrued interest	30,041	30,451
Accrued salaries and benefits	10,952	9,614
Allowance for sales returns	12,675	7,526
Other current liabilities	6,973	7,423
Total other current liabilities	$ 131,680	$ 135,170

New Valley LLC

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

NEW VALLEY LLC

(a) Investments in real estate ventures.

The components of “Investments in real estate ventures” were as follows:


	Range of Ownership (1)	December 31, 2023		December 31, 2022
Condominium and Mixed-Use Development	4.1% - 77.8%	$	108,334	$	93,350
Apartment Buildings	1.5% - 50.0%	7,791		9,471
Hotels	0.4% - 49.0%	138		2,510
Commercial	1.6% - 49.0%	15,234		15,347
Other	—%	—		439
Investments in real estate ventures		$	131,497	$	121,117

_____________________________

Contributions

The components of New Valley’s contributions to its investments in real estate ventures were as follows:


	December 31, 2023		December 31, 2022
Condominium and Mixed-Use Development	$	17,285	$	17,221
Apartment Buildings	148		—
Hotels	—		206
Commercial	—		8,070
Other	—		72
Total contributions	$	17,433	$	25,569

For ventures where New Valley previously held an investment and made an additional contribution, New Valley contributed its proportionate share of additional capital along with contributions by the other investment partners during the years ended December 31, 2023 and 2022. New Valley’s direct investment percentage in its existing ventures did not significantly change.

Distributions

The components of distributions received by New Valley from its investments in real estate ventures were as follows:


	December 31, 2023		December 31, 2022
Condominium and Mixed-Use Development	$	7,797	$	2,348
Apartment Buildings	—		550
Hotels	5,164		—
Commercial	473		1,018
Other	—		4,459
Total distributions	$	13,434	$	8,375

Of the distributions received by New Valley from its investment in real estate ventures, $4,248 and $3,429 were from distributions of earnings and $9,186 and $4,946 were a return of capital for the years ended December 31, 2023 and 2022, respectively. Distributions from earnings are included in cash from operations in the consolidated statements of cash flows, while distributions from return of capital are included in cash flows from investing activities in the consolidated statements of cash flows.

Equity in Earnings (Losses) from Real Estate Ventures

New Valley recognized equity in earnings (losses) from real estate ventures as follows:


	Year Ended December 31,
	2023		2022		2021
Condominium and Mixed-Use Development	$	1,316	$	(6,469)	$	(4,148)
Apartment Buildings	(2,268)		(1,879)		18,566
Hotels	2,792		(853)		(1,927)
Commercial	362		1,005		(1,811)
Other	—		2,250		(430)
Total equity in earnings (losses) from real estate ventures	$	2,202	$	(5,946)	$	10,250

The Company recorded impairment expense of $1,202, $490 and $2,713 for the years ended December 31, 2023, 2022 and 2021, respectively. The expense related to one hotel venture in 2023 and one commercial venture in each of 2022 and 2021. Because the Company has recorded impairment charges on certain of its investments in real estate ventures, the impaired real estate ventures have been recorded at fair value as of the period when the impairment charge was recorded. The impaired real estate ventures were measured at fair value on a nonrecurring basis when an other-than-temporary impairment charge was recorded.

During the year ended 2023, New Valley’s Park Lane Hotel joint venture sold its property located in Manhattan. New Valley recognized equity in earnings of $4,657 from the venture and received distributions of $4,931 for the year ended 2023. As of December 31, 2023, the venture had a carrying value of $0.

During the year ended 2023, New Valley’s Ritz-Carlton Villas joint venture sold its condominiums located in Miami, FL. New Valley recognized equity in earnings of $3,909 from the venture and received distributions of $3,935 for the year ended 2021. As of December 31, 2023, the venture had a carrying value of $0.

During the year ended 2021, New Valley’s Natura joint venture sold a parcel of land located in Miami, FL. New Valley recognized equity in earnings of $3,899 from the venture and received distributions of $5,168 for the year ended 2021. As of December 31, 2023, the venture had a carrying value of $11,054.

During the year ended 2021, New Valley’s Maryland joint venture sold its apartment complexes located in Baltimore, Maryland. New Valley recognized equity in earnings of $18,566 from the venture and received distributions of $18,566 for the year ended 2021. As of December 31, 2023, the venture had a carrying value of $0.

Investment in Real Estate Ventures Entered Into During 2023:

New Valley invested $700 during the year ended December 31, 2023 for an approximate 27% interest in 353 6th LLC. The joint venture plans to develop a condominium complex. The venture is a VIE; however, New Valley is not the primary

beneficiary. New Valley accounts for this investment under the equity method of accounting. New Valley's maximum exposure to loss in its investment in 353 6th LLC was $727 as of December 31, 2023.

New Valley invested $3,983 during the year ended December 31, 2023 for an approximate 13.5% interest in Banyan Cay. The joint venture plans to develop a resort. The venture is a variable interest entity (“VIE”); however, New Valley is not the primary beneficiary. New Valley accounts for this investment under the equity method of accounting. New Valley's maximum exposure to loss in its investment in Banyan Cay was $3,983 as of December 31, 2023.

VIE Consideration

For the investments in real estate ventures, New Valley determined that the entities were VIEs but New Valley was not the primary beneficiary. Therefore, New Valley’s investment in such real estate ventures has been accounted for under the equity method of accounting.

Maximum Exposure to Loss

New Valley’s maximum exposure to loss from its investments in real estate ventures consisted of the net carrying value of the venture adjusted for any future capital commitments and/or guarantee arrangements. The maximum exposure to loss was as follows:


	December 31, 2023
Condominium and Mixed-Use Development	$	108,334
Apartment Buildings	7,791
Hotels	138
Commercial	15,234

Total maximum exposure to loss	$	131,497

New Valley capitalized $4,287 and $4,432 of interest costs into the carrying value of its ventures whose projects were currently under development during the years ended December 31, 2023 and December 31, 2022, respectively.

(b) Guarantees and Commitments:

The joint venture agreements through which New Valley invests in real estate ventures set forth certain conditions where New Valley or its affiliate may be required to contribute payments towards the satisfaction of liabilities of the other partners in the joint venture, or to otherwise indemnify other partners. Mostly, these contribution/indemnity requirements are triggered in the event New Valley, or its affiliate, commits an act that results in liability of another partner under a guarantee that the other partner has given to a lender in connection with a loan. The guarantees given in connection with the loans may include non-recourse carve-out, environmental, carry and/or completion guarantees, depending on the specific project. In some instances, New Valley or its affiliate would be proportionately liable in the event of liability under a guarantee that is not the fault of any of the partners in the joint venture. In very limited circumstances, New Valley has agreed to be a guarantor directly in connection with a loan.

The Company believes that as of December 31, 2023, in the event New Valley becomes legally obligated to contribute funds or otherwise indemnify another partner due to a triggering event under a guarantee, or becomes legally obligated as a guarantor (in the limited circumstances where New Valley is a direct guarantor under the loan documents), the real estate underlying the applicable project is expected to be sufficient to largely repay any guaranteed obligation (although a lender need not necessarily resort to foreclosing on the real estate before seeking recourse under a loan guarantee). New Valley has no additional capital commitments as of December 31, 2023.


	Year Ended December 31,
Income Statements	2023		2022		2021
Other Condominium and Mixed-Use Development:
Revenue	$	94,606	$	117,836	$	301,703
Cost of sales	451		63,618		317,894
Other expenses	129,509		143,619		117,985
Loss from continuing operations	$	(35,354)	$	(89,401)	$	(134,176)

Apartment Buildings:
Revenue	$	22,403	$	2,934	$	35,213

Other expenses	60,479		4,563		46,360
Loss from continuing operations	$	(38,076)	$	(1,629)	$	(11,147)

Hotels:
Revenue	$	175,921	$	166,169	$	42,549
Cost of sales	5,121		5,049		3,671
Other expenses	403,510		293,761		201,211
Loss from continuing operations	$	(232,710)	$	(132,641)	$	(162,333)

Commercial:
Revenue	$	7,052	$	10,226	$	1,662

Equity in earnings	1,241		37,690		24,383
Other expenses	6,028		12,274		1,412
Income from continuing operations	$	2,265	$	35,642	$	24,633

Other:
Revenue	$	—	$	6,761	$	180,092

Other expenses	—		21,548		303,352
Loss from continuing operations	$	—	$	(14,787)	$	(123,260)


Balance Sheets	December 31, 2023		December 31, 2022
Other Condominium and Mixed-Use Development:
Investment in real estate	$	1,890,797	$	1,529,516
Total assets	2,049,105		1,667,802
Total debt	1,535,543		1,193,638
Total liabilities	1,898,725		1,480,725
Non-controlling interest	91,146		73,391

Apartment Buildings:
Investment in real estate	$	478,669	$	64,350
Total assets	542,165		68,664
Total debt	378,978		48,449
Total liabilities	396,668		49,722
Non-controlling interest	93,871		—

Hotels:
Investment in real estate	$	759,515	$	1,580,798
Total assets	792,831		1,651,072
Total debt	248,419		1,113,419
Total liabilities	664,582		1,281,161
Non-controlling interest	141,060		374,608

Commercial:
Investment in real estate	$	55,094	$	51,468
Total assets	73,658		71,364
Total debt	59,994		56,394
Total liabilities	60,980		57,424
Non-controlling interest	—		—

Other:
Investment in real estate	$	—	$	430,961
Total assets	—		486,655
Total debt	—		321,587
Total liabilities	—		331,928
Non-controlling interest	—		112,141

(d) Investments in real estate, net:

Escena. In March 2008, a wholly owned subsidiary of New Valley purchased a loan collateralized by a substantial portion of a 450-acre approved master planned community in Palm Springs, California known as “Escena.” In April 2009, New Valley completed the foreclosure process and took title to the collateral. The project consisted of 615 residential lots with site and public infrastructure, an 18-hole golf course, a completed clubhouse, and a seven-acre site approved for a 450-room hotel.

The Company recorded operating income of $0, $1,316 and $63 for the years ended December 31, 2023, 2022 and 2021, respectively, from Escena. In April 2022, New Valley sold Escena and received approximately $15,300 in net cash proceeds. The Company recognized the revenue in accordance with the scope of ASC Topic 606 since New Valley had no continuing investment or involvement. The sale was presented as revenue and the cost of the investment as cost of sales on the consolidated statements of operations.

Townhome A (11 Beach Street). In November 2020, New Valley received, as part of a liquidating distribution from a real estate joint venture, Unit TH-A, a townhouse located in Manhattan, NY. In April 2021, New Valley sold the unit for $6,750 and recognized the revenue in accordance with the scope of ASC Topic 606 since New Valley has no continuing investment or involvement. The sale was presented as revenue and the cost of the investment as cost of sales on the consolidated statements of operations.

Real Estate Market Conditions. Because of the risks and uncertainties of the real estate markets, the Company will continue to perform additional assessments to determine the impact of the markets, if any, on the Company’s consolidated financial statements. Thus, future impairment charges may occur.

Summary of Significant Accounting Policies (Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Restricted assets	$ 1,619	$ 25,907
Prepaid pension costs	45,292	38,100
Other assets	37,418	31,310
Total other assets	$ 84,329	$ 95,317

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

Investment securities consisted of the following:


	December 31, 2023		December 31, 2022
Debt securities available for sale	$	73,225	$	81,643


Equity securities at fair value:
Marketable equity securities	14,286		12,724
Mutual funds invested in debt securities	23,424		22,069
Long-term investment securities at fair value (1)	29,402		28,919
Total equity securities at fair value	67,112		63,712

Total investment securities at fair value	140,337		145,355
Less:
Long-term investment securities at fair value (1)	29,402		28,919
Current investment securities at fair value	$	110,935	$	116,436

Long-term investment securities at fair value (1)	$	29,402	$	28,919
Equity-method investments	17,358		16,040
Total long-term investments	$	46,760	$	44,959

Equity securities and other long-term investments at cost (2)	$	7,555	$	2,755

_____________________________

(1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820.

(2) These assets are without readily determinable fair values that do not qualify for the NAV practical expedient and are included in Other assets on the consolidated balance sheets.

The components of debt securities available for sale as of December 31, 2023 were as follows:


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value


Marketable debt securities	$	72,939	$	286	$	—	$	73,225

The components of debt securities available for sale as of December 31, 2022 were as follows:


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value


Marketable debt securities	$	81,629	$	14	$	—	$	81,643


	Year Ended December 31,
	2023		2022		2021
Net gains (losses) recognized on equity securities	$	3,045	$	(5,011)	$	9,615
Less: Net (losses) gains recognized on equity securities sold	(1,289)		1,198		7,534
Net unrealized gains (losses) recognized on equity securities still held at the reporting date	$	4,334	$	(6,209)	$	2,081

Schedule of Net Gains Recognized

Net gains (losses) recognized on investment securities were as follows:


	Year Ended December 31,
	2023		2022		2021
Net gains (losses) recognized on equity securities	$	3,045	$	(5,011)	$	9,615
Net (losses) gains recognized on debt and equity securities available for sale	(159)		6		45

Impairment expense	(292)		(2,975)		(276)




Net gains (losses) recognized on investment securities	$	2,594	$	(7,980)	$	9,384

Gross realized gains and losses recognized on debt securities available for sale were as follows:


	Year Ended December 31,
	2023		2022		2021
Gross realized gains on sales	$	26	$	8	$	108
Gross realized losses on sales	(185)		(2)		(63)
Net (losses) gains recognized on debt securities available for sale	$	(159)	$	6	$	45

Impairment expense	$	(292)	$	(2,975)	$	(276)

Schedule of Maturity Dates of Fixed Income Securities

The table below summarizes the maturity dates of debt securities available for sale as of December 31, 2023.


Investment Type:	Fair Value		Under 1 Year		1 Year up to 5 Years		More than 5 Years
U.S. Government securities	$	38,657	$	9,647	$	29,010	$	—
Corporate securities	12,042		12,042		—		—
U.S. mortgage-backed securities	17,358		15,724		1,634		—


Commercial paper	5,168		5,168		—		—


Total debt securities available for sale by maturity dates	$	73,225	$	42,581	$	30,644	$	—

Schedule of Equity Method Investments

Equity-method investments consisted of the following:


	December 31, 2023		December 31, 2022
Mutual and hedge funds	$	17,358	$	16,040

Equity in earnings (losses) from investments were:


	Year Ended December 31,
	2023		2022		2021
Mutual fund and hedge funds	$	1,262	$	(4,995)	$	2,675

Pursuant to Rule 4-08(g), the following summarized financial data for unconsolidated subsidiaries includes information for the mutual fund and hedge funds.


	Year Ended December 31,
	2023		2022		2021
Investment income	$	4,713	$	3,209	$	1,574
Expenses	10,585		13,272		12,873
Net investment loss	(5,872)		(10,063)		(11,299)
Total net realized gain (loss) and net change in unrealized depreciation from investments	4,824		(84,466)		48,342
Net (decrease) increase in partners’ capital resulting from operations	$	(1,048)	$	(94,529)	$	37,043


	December 31, 2023		December 31, 2022
Investment securities	$	290,916	$	299,389
Cash and cash equivalents	695		2,860
Other assets	38,471		87,507
Total assets	$	330,082	$	389,756

Other liabilities	$	159,858	$	159,246
Total liabilities	159,858		159,246
Partners’ capital	170,224		230,510
Total liabilities and partners’ capital	$	330,082	$	389,756


	Year Ended December 31,
Income Statements	2023		2022		2021
Other Condominium and Mixed-Use Development:
Revenue	$	94,606	$	117,836	$	301,703
Cost of sales	451		63,618		317,894
Other expenses	129,509		143,619		117,985
Loss from continuing operations	$	(35,354)	$	(89,401)	$	(134,176)

Apartment Buildings:
Revenue	$	22,403	$	2,934	$	35,213

Other expenses	60,479		4,563		46,360
Loss from continuing operations	$	(38,076)	$	(1,629)	$	(11,147)

Hotels:
Revenue	$	175,921	$	166,169	$	42,549
Cost of sales	5,121		5,049		3,671
Other expenses	403,510		293,761		201,211
Loss from continuing operations	$	(232,710)	$	(132,641)	$	(162,333)

Commercial:
Revenue	$	7,052	$	10,226	$	1,662

Equity in earnings	1,241		37,690		24,383
Other expenses	6,028		12,274		1,412
Income from continuing operations	$	2,265	$	35,642	$	24,633

Other:
Revenue	$	—	$	6,761	$	180,092

Other expenses	—		21,548		303,352
Loss from continuing operations	$	—	$	(14,787)	$	(123,260)


Balance Sheets	December 31, 2023		December 31, 2022
Other Condominium and Mixed-Use Development:
Investment in real estate	$	1,890,797	$	1,529,516
Total assets	2,049,105		1,667,802
Total debt	1,535,543		1,193,638
Total liabilities	1,898,725		1,480,725
Non-controlling interest	91,146		73,391

Apartment Buildings:
Investment in real estate	$	478,669	$	64,350
Total assets	542,165		68,664
Total debt	378,978		48,449
Total liabilities	396,668		49,722
Non-controlling interest	93,871		—

Hotels:
Investment in real estate	$	759,515	$	1,580,798
Total assets	792,831		1,651,072
Total debt	248,419		1,113,419
Total liabilities	664,582		1,281,161
Non-controlling interest	141,060		374,608

Commercial:
Investment in real estate	$	55,094	$	51,468
Total assets	73,658		71,364
Total debt	59,994		56,394
Total liabilities	60,980		57,424
Non-controlling interest	—		—

Other:
Investment in real estate	$	—	$	430,961
Total assets	—		486,655
Total debt	—		321,587
Total liabilities	—		331,928
Non-controlling interest	—		112,141

Earnings Per Share (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Dividend equivalent rights	$ 3,463	$ 4,239	$ 3,832

Leases (Lease Expense and Cash Outflows from Operating and Finance Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 4,384	$ 4,405	$ 4,578
Short-term lease cost	710	415	374
Variable lease cost	478	299	320
Amortization	25	33	58
Interest on lease liabilities	2	5	9
Total lease cost	5,599	5,157	5,339
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	4,793	4,850	4,961
Operating cash flows from finance leases	2	5	10
Financing cash flows from finance leases	29	37	57
ROU assets obtained in exchange for lease obligations:
Operating leases	6,752	208	1,993
Finance leases	$ 0	$ 0	$ 0

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information

The components of lease expense were as follows:


	Year Ended December 31,
	2023		2022		2021
Operating lease cost	$	4,384	$	4,405	$	4,578
Short-term lease cost	710		415		374
Variable lease cost	478		299		320

Finance lease cost:
Amortization	25		33		58
Interest on lease liabilities	2		5		9
Total lease cost	$	5,599	$	5,157	$	5,339

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31,
	2023		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	4,793	$	4,850	$	4,961
Operating cash flows from finance leases	2		5		10
Financing cash flows from finance leases	29		37		57

ROU assets obtained in exchange for lease obligations:
Operating leases	6,752		208		1,993
Finance leases	—		—		—

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows:



	December 31,			December 31,
	2023			2022







Finance leases:


Property, plant and equipment, at cost	$	127		$	127
Accumulated amortization	(120)			(95)
Property and equipment, net	$	7		$	32

Current portion of notes payable and long-term debt	$	8		$	29
Notes payable, long-term debt and other obligations, less current portion	—			8
Total finance lease liabilities	$	8		$	37

Weighted average remaining lease term in years:
Operating leases	3.85			2.57
Finance leases	0.25			1.25

Weighted average discount rate:
Operating leases	9.78		%	9.89		%
Finance leases	8.85		%	8.85		%

Schedule of Maturities of Operating Lease Liabilities

As of December 31, 2023, maturities of lease liabilities were as follows:


	Operating Leases		Finance Leases
Year Ending December 31:
2024	$	4,702	$	8
2025	3,292		—
2026	2,675		—
2027	2,067		—
2028	1,602		—
Thereafter	—		—

Total lease payments	14,338		8
Less imputed interest	(2,455)		—
Total	$	11,883	$	8

Schedule of Maturities of Financing Lease Liabilities

As of December 31, 2023, maturities of lease liabilities were as follows:


	Operating Leases		Finance Leases
Year Ending December 31:
2024	$	4,702	$	8
2025	3,292		—
2026	2,675		—
2027	2,067		—
2028	1,602		—
Thereafter	—		—

Total lease payments	14,338		8
Less imputed interest	(2,455)		—
Total	$	11,883	$	8

Employee Benefit Plans (Net Periodic Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost — benefits earned during the period	$ 397	$ 414	$ 415
Interest cost on projected benefit obligation	5,090	2,628	2,284
Expected return on assets	(5,038)	(3,530)	(3,458)
Prior service cost	0	0	0
Amortization of net loss (gain)	1,055	1,636	1,835
Net expense	1,504	1,148	1,076
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost — benefits earned during the period	0	0	0
Interest cost on projected benefit obligation	323	233	224
Expected return on assets	0	0	0
Prior service cost	8	8	4
Amortization of net loss (gain)	(85)	(31)	86
Net expense	$ 246	$ 210	$ 314

Discontinued Operations (Narrative) (Details) $ in Thousands		12 Months Ended
	Dec. 29, 2021 shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued ratio	2
Other, net		$ 26,119	$ 2,746	$ 10,687
Douglas Elliman Realty, LLC \| Indemnification Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other, net			$ 589
Douglas Elliman
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued ratio	1
Distribution \| Douglas Elliman
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued ratio	0.5
Shares issued (in shares) \| shares	77,720,159

Investment Securities (Components of Debt Securities Available for Sale) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 73,225	$ 81,643
Marketable debt securities
Debt Securities, Available-for-sale [Line Items]
Cost	72,939	81,629
Gross Unrealized Gains	286	14
Gross Unrealized Losses	0	0
Fair Value	$ 73,225	$ 81,643

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 1,424,268	$ 1,441,009	$ 1,220,700
Operating income (loss)	328,035	339,010	320,439
Equity in earnings (losses) from real estate ventures	2,202	(5,946)	10,250
Identifiable assets of continuing operations	934,095	908,591	871,087
Depreciation and amortization	6,941	7,218	7,816
Capital expenditures	10,557	9,957	9,400
Litigation settlement and judgment expense	18,799	239	211
Investment securities at fair value	110,935	116,436
Long-term investments	46,760	44,959
Operating Segments \| Tobacco
Segment Reporting Information [Line Items]
Revenues	1,424,268	1,425,125	1,202,497
Operating income (loss)	346,673	347,044	360,317
Equity in earnings (losses) from real estate ventures	0	0	0
Identifiable assets of continuing operations	320,925	343,874	302,051
Depreciation and amortization	5,686	5,901	6,525
Capital expenditures	10,279	9,872	5,827
Litigation settlement and judgment expense	18,799	239	211
Operating Segments \| Tobacco \| MSA
Segment Reporting Information [Line Items]
Litigation settlement, amount awarded from other party	(734)	(2,123)
Litigation settlement and judgment expense			2,722
Operating Segments \| Real estate
Segment Reporting Information [Line Items]
Revenues	0	15,884	18,203
Operating income (loss)	313	8,016	4,066
Equity in earnings (losses) from real estate ventures	2,202	(5,946)	10,250
Identifiable assets of continuing operations	156,690	137,747	128,256
Depreciation and amortization	0	66	249
Capital expenditures	0	1	3
Investments in real estate ventures	131,497	121,117	105,062
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	0	0	0
Operating income (loss)	(18,951)	(16,050)	(43,944)
Equity in earnings (losses) from real estate ventures	0	0	0
Identifiable assets of continuing operations	456,480	426,970	440,780
Depreciation and amortization	1,255	1,251	1,042
Capital expenditures	278	84	3,570
Gain on sale of assets			910
Cash	251,732	213,988	167,383
Investment securities at fair value	110,935	116,436	146,687
Long-term investments	$ 46,760	$ 44,959	53,073
Corporate and Other \| Spin-off of Douglas Elliman
Segment Reporting Information [Line Items]
Transaction charges			10,468
Accelerated stock compensation			$ 4,317

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance	$ 3,267	$ 2,209	$ 1,653
Additions based on tax positions related to prior years	1,453	1,409	1,640
Settlements	(1,456)	0	(1,065)
Expirations of the statute of limitations	(266)	(351)	(19)
Balance	$ 2,998	$ 3,267	$ 2,209

Summary of Significant Accounting Policies (Property, Plant and Equipment and Intangible Assets Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Indefinite life intangibles	$ 107,511,000	$ 107,511,000
Impairment of intangible assets	$ 0	$ 0	$ 0
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years

Current Expected Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

Schedule of Reconciliation of Allowance for Credit Losses

The following is the reconciliation of the allowance for credit losses for the year ended December 31, 2023:


	January 1, 2023		Current Period Provision	Write-offs	Recoveries	December 31, 2023
Allowance for credit losses:
New Valley term loan receivables	$	15,928	—	—	—	$	15,928

The following is the reconciliation of the allowance for credit losses for the year ended December 31, 2022:


	January 1, 2022		Current Period Provision	Write-offs	Recoveries	December 31, 2022
Allowance for credit losses:
New Valley term loan receivables	$	15,928	—	—	—	$	15,928

Stock Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

A summary of employee stock option transactions follows:


	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (1)
Outstanding on January 1, 2021	3,822,819	$	15.40	4.6	$	487

Exercised	—	$	—

Outstanding on December 31, 2021	3,822,819	$	15.40	3.6	$	238

Exercised	—	$	—

Outstanding on December 31, 2022	3,822,819	$	15.40	2.6	$	794

Exercised	(1,055,315)	$	11.47

Outstanding on December 31, 2023	2,767,504	$	16.89	2.6	$	146
Options exercisable at:
December 31, 2021	2,988,727
December 31, 2022	3,415,944
December 31, 2023	2,767,504

_____________________________

Schedule of Additional Information Relating to Options Outstanding

Additional information relating to options outstanding as of December 31, 2023 follows:


			Options Outstanding				Options Exercisable
Range of Exercise Prices			Outstanding as of	Weighted-Average Remaining Contractual Life (Years)	Weighted-Average Exercise Price		Exercisable as of	Weighted-Average Remaining Contractual Life (Years)	Weighted-Average Exercise Price		Aggregate Intrinsic Value
			12/31/2023				12/31/2023
$9.86	-	$11.83	406,875	5.2	$	10.92	406,875	5.2	$	10.92	$	—
$11.83	-	$13.80	—	—	$	—	—	—	$	—	$	—
$13.80	-	$15.77	519,278	0.4	$	14.68	519,278	0.4	$	14.68	$	—
$15.77	-	$17.74	—	—	$	—	—	—	$	—	$	—
$17.74	-	$19.71	1,841,351	2.6	$	18.84	1,841,351	2.6	$	18.84	$	—



			2,767,504	2.6	$	16.89	2,767,504	2.6	$	16.89	$	146

Summary of Nonvested Restricted Stock Award Activities

A summary of nonvested restricted stock award activities follows:


	Number of Shares	Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2023	1,980,000	$	12.24
Granted (1)	1,335,000	$	12.83
Vested (2)	(613,750)	$	12.37
Forfeited	—	$	—
Nonvested at December 31, 2023	2,701,250	$	12.51

_____________________________

(1)The weighted-average grant-date fair value of restricted stock awards granted during 2022 and 2021 was $11.11 and $14.31, respectively.

(2)The total fair value of restricted stock awards vested during 2023, 2022, and 2021 was $8,081, $6,125, and $7,492, respectively.