VECTOR GROUP LTD VGR Cash Flow

Vector group ltd (VGR)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-	58,007	90,750	77,266	66,472	49,114	37,048	30,622	75,020	54,084	24,806	60,504
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
-	18,807	18,614	22,359	25,654	24,499	12,631	10,608	10,607	10,790	10,398	10,057
Non-cash stock-based expense
-	9,951	10,887	10,034	5,621	3,251	2,519	5,563	3,183	2,704	3,642	3,550
Loss on extinguishment of debt
-	3,758	1,754	0	0	-	-	-	-	-	-	-
Acceleration of interest expense related to debt conversion
-	-	-	-	-	5,205	12,414	14,960	1,217	0	-18,573	-
Non-cash portion of restructuring and impairment charges
-	-	-	-	-	-	-	-	-	-	100	53
Loss (gain) on sale of assets
-	-10	40	42	-77	540	-170	0	43	-74	-127	-
Deferred income taxes
-	-17,635	-33,311	12,571	-13,195	22,026	466	-	-	1,225	-	-
Distributions from long-term investments
-	1,472	1,436	1,347	1,258	1,416	2,011	-	-	0	-	-
Gain on sale of townhomes
-	-	-	-	-	-	-	-	3,843	0	0	-
Provision for loss on mortgage receivable
-	-	-	-	-	-	-	-	-	-	5,000	4,000
Provision for loss on non-consolidated real estate businesses
-	-	-	-	-	-	-	-	-	-	3,500	3,500
Gain on liquidation of long-term investments accounted for at cost
-	-	-	-	0	0	-	-	25,832	0	0	-
Deferred income taxes
-	-	-	-	-	-	-	-7,336	9,366	-1,757	-110,183	432
Provision for loss on long-term investments accounted for at cost
-	-	-	-	-	-	-	-	-	-	-	21,900
Equity in (losses) earnings from long-term investments
-	-	-	-	-	-	3,126	-1,261	-859	2,604	0	-568
(Gain) loss on sale of investment securities available for sale
-	-	-	-	-	-	5,152	1,640	23,257	-	-	-
Gain on sale of marketable securities
-	-	-	-	-	-	-	-	-	-19,869	0	-
Provision for loss on marketable securities
-	-	-	-	-	-	-	-	-	-	-	3,000
Income (Loss) from Equity Method Investments
-	3,158	-765	-2,754	-2,681	3,140	22,925	29,764	19,966	23,963	15,213	24,399
Net (gains) losses on investment securities
-	-9,570	-660	-3,487	11,138	-11	-	-	-	-	-	-
Equity Income (Loss) from Real Estate Ventures
-	14,446	21,395	5,200	2,001	4,103	-	-	-	-	-	-
Distributions from real estate ventures
-	25,935	37,995	23,446	5,894	5,152	3,142	49,221	8,450	3,539	6,730	19,393
Non-cash interest expense
-	52,048	29,620	10,549	6,504	35,584	-22,995	-28,150	-7,373	-1,082	-51,209	11,907
Non-cash lease expense
-	0	0	-	-	-	-	-	-	-	-	-
Excess tax benefit of stock compensation
-	-18,412	-1,143	0	0	-	-	-	-	-	-	-
Impairment of investment securities
-	-	-	-	12,846	0	0	-	-	-	-	-
Impairment of long-term investments
-	0	50	385	811	0	-	-	-	-	-	-
Premium on issuance of debt
-	-	-	-	-	-	-	-	-	-3,450	0	-
(Gain) loss on warrants
-	-	-	-	-	-	-	-1,193	700	0	0	-
Non-cash interest income
-	-	-	-	-	-	90	0	0	-	-	-
Gain on acquisition of Douglas Elliman
-	-	-	-	-	-	60,842	0	0	-	-	-
Impairment of real estate, net
-	-	-	-	230	0	0	-	-	-	-	-
Impairment of real estate held for sale
-	-	-	-	-	-	0	-	-	-	-	-
Changes in assets and liabilities:
Receivables
-	13,372	17,492	5,809	1,414	11,197	-5,975	-13,622	23,020	-6,249	-1,408	6,393
Inventories
-	1,207	-43	3,317	-3,806	-3,173	-6,897	-8,837	2,149	8,593	5,905	5,756
Change in book overdraft
-	-	-	-	-	-	-	-	-	-	-	198
Accounts payable and accrued liabilities
-	4,443	14,218	-22,922	37,936	5,708	41,047	4,497	-3,216	2,575	-6,618	11,850
Payments due under the Master Settlement Agreement
-	19,081	-4,679	-10,968	-2,796	-925	-32,690	-14,903	26,419	32,985	10,653	-
Cash payments on restructuring liabilities
-	-	-	-	-	-	-	-	-	179	902	-154
Other assets and liabilities, net
-	-10,158	-568	18,304	-5,233	27,858	-28,427	753	5,299	5,218	-8,606	-11,800
Net cash provided by operating activities
19,726	181,834	131,586	97,636	144,479	107,376	52,026	84,086	36,041	67,004	5,667	91,265
Cash flows from investing activities:
Sale of investment securities
7,759	18,628	28,761	116,070	270,576	154,615	-	-	-	-	-	-
Maturities of investment securities
11,308	24,719	101,097	10,822	5,491	930	27	-	-	-	-	-
Purchase of investment securities
20,623	34,445	132,654	117,211	214,146	305,731	170,463	5,647	5,039	9,394	12,427	6,411
Maturities of equity securities
-	-	-	-	-	-	117,021	3,831	31,643	28,587	78	-
Proceeds from Sale of Long-term Investments
0	19,487	966	4,552	1,303	2,416	10,927	72	66,190	1,002	2,254	8,334
Purchase of long-term investments
0	415	32,510	50	10,000	12,000	5,501	5,000	10,000	5,062	51	51
Payments to Acquire Real Estate Held-for-investment
871	9,728	38,807	44,107	70,272	40,916	75,731	33,375	-	-	-	-
Distributions from investments in real estate ventures
1,134	54,233	61,718	33,204	17,563	7,309	4,251	19,169	9,322	12,212	6,466	8,462
Issuance of notes receivable
-	450	1,633	0	4,410	8,250	8,600	383	15,256	930	0	-
Purchase of Aberdeen mortgages
-	-	-	-	-	-	-	-	-	13,462	0	21,704
Proceeds from sale of townhomes, net
-	-	-	-	-	-	-	-	19,629	0	0	-
Purchase of other minority equity interests
-	-	-	-	-	-	-	-	-	-	-	4,250
Cash acquired in purchase of subsidiaries
-	654	0	0	-	-	116,935	0	0	473	0	-
Proceeds from sale of fixed assets
-	9	76	45	4	4	48	444	205	187	-	-
Proceeds from sale of businesses and assets
-	-	-	-	-	-	-	-	-	-	41	452
Increase in cash surrender value of life insurance policies
238	764	802	484	1,742	484	628	907	744	936	839	938
Decrease (increase) in restricted assets
7	-526	-2,250	-410	6,889	872	-1,081	1,130	96	1,100	-1,720	411
Capital expenditures
3,825	17,682	19,869	26,691	10,977	23,404	13,275	11,265	11,838	23,391	3,848	6,309
Purchase of subsidiaries
668	10,404	6,569	250	0	750	67,616	0	0	-	-	-
Repayments of notes receivable
-	67	0	4,410	4,000	4,850	0	0	0	-	-	-
Purchase of preferred securities
-	-	-	-	-	1,000	0	0	-	-	-	-
Pay downs of investment securities
258	1,611	2,633	9,212	8,739	1,849	681	0	-	-	-	-
Investments in real estate, net
641	2,583	619	245	12,603	0	0	-	41,859	24,645	474	22,000
Proceeds from sale of preferred securities
-	-	-	-	1,000	0	0	-	-	-	-	-
Net cash provided by (used in) investing activities
-6,414	43,463	-35,962	-10,313	-22,363	-221,434	-91,952	-4,139	41,285	-45,132	-6,816	-33,895
Cash flows from financing activities:
Proceeds from issuance of debt
0	325,000	850,021	243,620	2,105	413,914	457,767	244,075	6,419	185,714	118,805	2,831
Repayments of debt
230,466	28,689	837,205	5,365	6,684	12,601	422,581	19,258	4,960	14,539	6,179	6,329
Deferred financing costs
-	9,400	19,200	6,600	624	12,360	11,750	11,479	0	5,077	5,573	137
Borrowings under revolver
94,400	307,023	157,630	144,294	153,361	886,130	978,788	1,074,050	1,064,270	1,034,924	749,474	531,251
Repayments on revolver
87,420	310,551	163,474	110,614	167,915	898,788	977,794	1,066,092	1,078,508	1,016,598	751,607	526,518
Dividends and distributions on common stock
60,459	225,367	211,488	198,947	188,151	167,328	144,711	137,114	125,299	117,459	115,778	103,870
Distributions to non-controlling interest
285	2,521	2,779	11,545	3,280	9,339	11,764	0	0	-	-	-
Contributions from non-controlling interest
-	-	-	248	813	0	0	-	-	-	-	-
Proceeds from the issuance of Vector stock
-	0	43,230	0	0	-	-	611	0	0	-	-
Tax withholdings related to net share settlements of stock option exercise
-	0	0	-	-	-	-	-	-	-	-	-
Other
-	0	0	-	-	-	-	-	-	-	-	-
Proceeds from exercise of Vector options
-	-	-	398	1,441	5,151	544	140	1,029	1,265	1,194	86
Tax benefit of options exercised
-	-	-	579	821	1,178	38	52	821	269	9,162	18,304
Net cash used in financing activities
-284,230	55,495	-183,265	56,068	-208,113	205,957	-131,463	84,985	-136,228	68,499	-502	-84,382
Net increase (decrease) in cash, cash equivalents and restricted cash
-270,918	280,792	-87,641	143,391	-85,997	91,899	-171,389	164,932	-58,902	90,371	-1,651	-27,012