Note 1. Organizations and Basis of Presentation
Description of Business
Turning Point Brands, Inc. and its Subsidiaries (collectively referred to
herein as the “Company,” “we,” “our,” or “us”) is a leading manufacturer, marketer and distributor of branded consumer products. We sell a wide range of products to adult consumers consisting of staple products with our iconic brands Zig-Zag ® and Stoker’s ® to our next generation
products to fulfill evolving consumer preferences. Our three focus segments are led by our core, proprietary brands: Zig-Zag ® in the Zig-Zag Products segment; Stoker’s ® along with Beech-Nut ® and Trophy ® in the Stoker’s Products segment; along with our distribution platforms ( Vapor
Beast ® , VaporFi ® and Direct Vapor ® ) and Solace ® in the NewGen Products segment. The Company’s products are available in more than 215,000 retail outlets in North America. We operate in three segments: (i) Zig-Zag Products, (ii) Stoker’s Products, and (iii) NewGen Products.
Basis of Presentation
The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States
(“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the dates of the
financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The Company’s significant estimates include those affecting the valuation of goodwill and other
intangible assets, deferred income tax valuation allowances, the valuation of investments and the valuation of inventory, including reserves.
Certain prior year amounts have been reclassified to conform to the current year’s presentation. The changes did not have an impact on the Company’s
consolidated financial position, results of operations, or cash flows in any of the periods presented.
Free historical financial statements for Turning Point Brands Inc.
See how revenue, income, cash flow, and balance sheet financials have changed over 31 quarters since 2017. Compare with TPB stock chart to see long term trends.
Data imported from Turning Point Brands Inc SEC filings. Check original filings before making any investment decision.