Turning Point Brands (TPB) 10-Q2 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-37763
Entity Registrant Name	TURNING POINT BRANDS, INC.
Entity Central Index Key	0001290677
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0709285
Entity Address, Address Line One	5201 Interchange Way
Entity Address, City or Town	Louisville
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40229
City Area Code	502
Local Phone Number	778-4421
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TPB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,621,706

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash	$ 130,903	$ 117,886
Accounts receivable, net of allowances of $43 in 2024 and $78 in 2023	8,198	9,989
Inventories, net	105,467	98,960
Other current assets	34,437	40,781
Total current assets	279,005	267,616
Property, plant, and equipment, net	24,790	25,300
Deferred income taxes	1,426	1,468
Right of use assets	10,868	11,480
Deferred financing costs, net	2,305	2,450
Goodwill	136,365	136,250
Other intangible assets, net	80,177	80,942
Master Settlement Agreement (MSA) escrow deposits	28,427	28,684
Other assets	22,953	15,166
Total assets	586,316	569,356
Current liabilities:
Accounts payable	18,934	8,407
Accrued liabilities	30,974	33,635
Current portion of long-term debt	59,397	58,294
Total current liabilities	109,305	100,336
Notes payable and long-term debt	306,496	307,064
Lease liabilities	9,360	9,950
Total liabilities	425,161	417,350
Commitments and contingencies
Stockholders' equity:
Preferred stock; $0.01 par value; authorized shares 40,000,000; issued and outstanding shares -0-	0	0
Additional paid-in capital	119,792	119,075
Cost of repurchased common stock (2,389,005 shares at March 31, 2024 and December 31, 2023)	(80,172)	(78,093)
Accumulated other comprehensive loss	(3,048)	(2,648)
Accumulated earnings	123,192	112,443
Non-controlling interest	1,191	1,030
Total stockholders' equity	161,155	152,006
Total liabilities and stockholders' equity	586,316	569,356
Common Stock, Voting [Member]
Stockholders' equity:
Common stock	200	199
Common Stock, Nonvoting [Member]
Stockholders' equity:
Common stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Accounts receivable, allowance	$ 43	$ 78
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	40,000,000	40,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Repurchased common stock (in shares)	2,389,005	2,316,460
Common Stock, Voting [Member]
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	190,000,000	190,000,000
Common stock, shares issued (in shares)	20,016,822	19,922,137
Common stock, shares outstanding (in shares)	17,627,817	17,605,677
Common Stock, Nonvoting [Member]
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Consolidated Statements of Income [Abstract]
Net sales	$ 97,058	$ 100,956
Cost of sales	45,146	52,339
Gross profit	51,912	48,617
Selling, general, and administrative expenses	32,646	30,775
Operating income	19,266	17,842
Interest expense, net	3,479	4,010
Investment (gain) loss	(119)	4,799
Gain on extinguishment of debt	0	(777)
Income before income taxes	15,906	9,810
Income tax expense	3,727	2,468
Consolidated net income	12,179	7,342
Net income (loss) attributable to non-controlling interest	169	(255)
Net income attributable to Turning Point Brands, Inc.	$ 12,010	$ 7,597
Basic income per common share:
Net income attributable to Turning Point Brands, Inc. (in dollars per share)	$ 0.68	$ 0.43
Diluted income per common share:
Net income attributable to Turning Point Brands, Inc. (in dollars per share)	$ 0.63	$ 0.41
Weighted average common shares outstanding:
Basic (in shares)	17,654,684	17,531,414
Diluted (in shares)	20,170,314	20,669,152

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Consolidated Statements of Comprehensive Income [Abstract]
Consolidated net income	$ 12,179	$ 7,342
Other comprehensive income (loss), net of tax
Unrealized loss on MSA investments, net of tax	(242)	553
Foreign currency translation, net of tax	13	(78)
Unrealized loss on derivative instruments, net of tax	(185)	(344)
Unrealized gain on investments, net of tax	6	0
Other comprehensive income (loss), net of tax	(408)	131
Consolidated comprehensive income	11,771	7,473
Comprehensive income (loss) attributable to non-controlling interest	169	(255)
Comprehensive income attributable to Turning Point Brands, Inc.	$ 11,602	$ 7,728

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other comprehensive income (loss), net of tax
Unrealized loss on MSA investments, tax	$ 15	$ 176
Foreign currency translation, tax	0	0
Unrealized loss on derivative instruments, tax	57	$ 109
Unrealized gain on investments, tax	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cash flows from operating activities:
Consolidated net income	$ 12,179	$ 7,342
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on extinguishment of debt	0	(777)
Loss (gain) on sale of property, plant, and equipment	1	(6)
Gain on MSA investments	6	0
Depreciation and other amortization expense	944	776
Amortization of other intangible assets	779	771
Amortization of deferred financing costs	696	626
Deferred income tax expense (benefit)	114	299
Stock compensation expense	2,062	743
Noncash lease income	(42)	(14)
Loss on investments	0	4,897
Changes in operating assets and liabilities:
Accounts receivable	1,929	(216)
Inventories	(6,296)	6,173
Other current assets	3,130	2,639
Other assets	(270)	(2,895)
Accounts payable	10,525	2,051
Accrued liabilities and other	(3,118)	(7,025)
Net cash provided by operating activities	22,639	15,384
Cash flows from investing activities:
Capital expenditures	(366)	(2,435)
Purchases of investments	(7,119)	0
Purchases of non-marketable equity investments	(500)	0
Proceeds on sale of property, plant and equipment	0	3
Restricted cash, MSA escrow deposits	(1)	0
Net cash used in investing activities	(7,986)	(2,432)
Cash flows from financing activities:
Convertible Senior Notes repurchased	0	(13,002)
Proceeds from call options	0	33
Payment of dividends	(1,149)	(1,052)
Exercise of options	3	357
Redemption of restricted stock units	(136)	0
Redemption of performance restricted stock units	(1,212)	(889)
Common stock repurchased	(2,079)	0
Net cash used in financing activities	(4,573)	(14,553)
Net increase (decrease) in cash	10,080	(1,601)
Effect of foreign currency translation on cash	(58)	(1)
Cash, beginning of period:
Unrestricted	117,886	106,403	$ 106,403
Restricted	4,929	4,929	4,929
Total cash at beginning of period	122,815	111,332	111,332
Cash, end of period:
Unrestricted	130,903	104,801	117,886
Restricted	1,934	4,929	4,929
Total cash at end of period	132,837	109,730	$ 122,815
Supplemental schedule of noncash investing activities:
Accrued capital expenditures	10	7
Supplemental schedule of noncash financing activities:
Dividends declared not paid	$ 1,261	$ 1,155

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member] Voting [Member]	Additional Paid-In Capital [Member]	Cost of Repurchased Common Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Earnings [Member]	Non-Controlling Interest [Member]	Total
Beginning balance at Dec. 31, 2022	$ 198	$ 113,242	$ (78,093)	$ (2,393)	$ 78,691	$ 1,735	$ 113,380
Beginning balance (in shares) at Dec. 31, 2022							17,485,163
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	553	0	0	$ 553
Unrealized loss on derivative instruments, net of tax	0	0	0	(344)	0	0	(344)
Foreign currency translation, net of tax	0	0	0	(50)	0	(28)	(78)
Unrealized gain on investments, net of tax							0
Stock compensation expense	0	743	0	0	0	0	743
Exercise of options	$ 0	357	0	0	0	0	357
Exercise of options (in shares)	24,955
Issuance of performance based restricted stock units	$ 1	(1)	0	0	0	0	0
Issuance of performance based restricted stock units (in shares)	114,274
Performance restricted stock units redeemed	$ 0	(889)	0	0	0	0	(889)
Performance restricted stock units redeemed (in shares)	(38,863)
Settlement of call options, net of tax	$ 0	25	0	0	0	0	25
Dividends	0	0	0	0	(1,155)	0	(1,155)
Net income	0	0	0	0	7,597	(255)	7,342
Ending balance at Mar. 31, 2023	199	113,477	(78,093)	(2,234)	85,133	1,452	$ 119,934
Ending balance (in shares) at Mar. 31, 2023							17,585,529
Beginning balance at Dec. 31, 2022	198	113,242	(78,093)	(2,393)	78,691	1,735	$ 113,380
Beginning balance (in shares) at Dec. 31, 2022							17,485,163
Ending balance at Dec. 31, 2023	199	119,075	(78,093)	(2,648)	112,443	1,030	$ 152,006
Ending balance (in shares) at Dec. 31, 2023							17,605,677
Unrealized gain (loss) on MSA investments, net of tax	0	0	0	(242)	0	0	$ (242)
Unrealized loss on derivative instruments, net of tax	0	0	0	(185)	0	0	(185)
Foreign currency translation, net of tax	0	0	0	21	0	(8)	13
Unrealized gain on investments, net of tax	0	0	0	6	0	0	6
Stock compensation expense	0	2,062	0	0	0	0	2,062
Exercise of options	$ 0	3	0	0	0	0	3
Exercise of options (in shares)	198
Cost of repurchased common stock	$ 0	0	$ (2,079)	0	0	0	(2,079)
Cost of repurchased common stock (in shares)			(72,545)
Issuance of performance based restricted stock units	$ 1	0	$ 0	0	0	0	1
Issuance of performance based restricted stock units (in shares)	126,109
Issuance of restricted stock units	$ 0	0	0	0	0	0	0
Issuance of restricted stock units (in shares)	21,697
Redemption of performance based restricted stock units	$ 0	(1,212)	0	0	0	0	(1,212)
Redemption of performance based restricted stock units (in shares)	(48,177)
Redemption of restricted stock units	$ 0	(136)	0	0	0	0	(136)
Redemption of restricted stock units (in shares)	(5,142)
Dividends	$ 0	0	0	0	(1,261)	0	(1,261)
Net income	0	0	0	0	12,010	169	12,179
Ending balance at Mar. 31, 2024	$ 200	$ 119,792	$ (80,172)	$ (3,048)	$ 123,192	$ 1,191	$ 161,155
Ending balance (in shares) at Mar. 31, 2024							17,627,817

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Consolidated Statements of Changes in Stockholders' Equity [Abstract]
Unrealized loss on MSA investments, tax	$ 176
Unrealized loss on derivative instruments, tax	109
Foreign currency translation, tax	0
Settlement of call options, tax	$ 8

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
Description of Business and Basis of Presentation	Mar. 31, 2024
Description of Business and Basis of Presentation [Abstract]
Description of Business and Basis of Presentation	Note 1. Description of Business 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. The Company sells a wide range of products to adult consumers consisting of staple products with its iconic brands Zig-Zag ® and Stoker’s ® Zig-Zag ® and CLIPPER ® in the Zig-Zag Products segment and Stoker’s ® along with Beech-Nut ® and Trophy ® in the Stoker’s Products segment. 217 three Basis of Presentation The accompanying unaudited, interim, consolidated financial statements have been prepared in accordance with the accounting practices described in the Company’s audited, consolidated financial statements as of and for the year ended December 31, 2023. In the opinion of management, the unaudited, interim, consolidated financial statements included herein contain all adjustments necessary to present fairly the financial position, results of operations, and cash flows of the Company for the periods presented. Such adjustments, other than nonrecurring adjustments separately disclosed, are of a normal and recurring nature. The operating results for interim periods are not necessarily indicative of results to be expected for a full year or future interim periods. The unaudited, interim, consolidated financial statements should be read in conjunction with the Company’s audited, consolidated financial statements and accompanying notes as of and for the year ended December 31, 2023. The accompanying interim, consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States (“GAAP”) with respect to annual financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries, all of which are wholly-owned, and variable interest entities for which the Company is considered the primary beneficiary. All significant intercompany transactions have been eliminated . Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (Topic 606), which includes excise taxes and shipping and handling charges billed to customers, net of cash discounts for prompt payment, sales returns and incentives, upon delivery of goods to the customer – at which time the Company’s performance obligation is satisfied - at an amount that the Company expects to be entitled to in exchange for those goods in accordance with the five-step analysis outlined in Topic 606: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. The Company excludes from the transaction price, sales taxes and value-added taxes imposed at the time of sale (which do not include excise taxes on smokeless tobacco, cigars or other nicotine products billed to customers). The Company records an allowance for sales returns, based principally on historical volume and return rates, which is included in accrued liabilities on the consolidated balance sheets. The Company records sales incentives, which consist of consumer incentives and trade promotion activities, as a reduction in revenues (a portion of which is based on amounts estimated to be due to wholesalers, retailers and consumers at the end of the period) based principally on historical volume and utilization rates. Expected payments for sales incentives are included in accrued liabilities on the consolidated balance sheets. A further requirement of ASC 606 is for entities to disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The Company’s management views business performance through segments that closely resemble the performance of major product lines. Thus, the primary and most useful disaggregation of the Company’s contract revenue for decision making purposes is the disaggregation by segment which can be found in Note 16, “Segment Information”. An additional disaggregation of contract revenue by sales channel can be found within Note 16 as well. Shipping Costs The Company records shipping costs incurred as a component of selling, general, and administrative expenses. Shipping costs incurred were approximately $5.6 million and $6.2 million for the three months ending March 31 , 2024 and 2023, respectively. Inventories Inventories are stated at the lower of cost or net realizable value using the first -in, -out method. Leaf tobacco is presented in current assets in accordance with standard industry practice, notwithstanding the fact that such tobaccos are carried longer than year for the purpose of curing. Fair Value GAAP establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under GAAP are described below: ● Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets at the measurement date. ● Level 2 – Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Derivative Instruments The Compan y enters into foreign currency forwar under the provisions of ASC 815, Derivatives and Hedging. Under the Company’s policy, the Company may hedge up to 100% of its anticipated purchases of inventory in the denominated invoice currency over a forwa Risks and Uncertainties Manufacturers and sellers of tobacco products are subject to regulation at the federal, state, and local levels. Such regulations include, among others, labeling requirements, limitations on advertising, and prohibition of sales to minors. The tobacco industry is likely to continue to be heavily regulated. There can be no assurance as to the ultimate content, timing, or effect of any regulation of tobacco products by any federal, state, or local legislative or regulatory body, nor can there be any assurance that any such legislation or regulation would not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. In a number of states targeted flavor bans have been proposed or enacted legislatively or by the administrative process. Depending on the number and location of such bans, that legislation or regulation could have a material adverse effect on the Company’s financial position, results of operations or cash flows. The U.S. Food and Drug Administration The tobacco industry has experienced, and is experiencing, significant product liability litigation. Most tobacco liability lawsuits have been brought against manufacturers and sellers of cigarettes for injuries allegedly caused by smoking or exposure to smoke. However, several lawsuits have been brought against manufacturers and sellers of smokeless products for injuries to health allegedly caused by use of smokeless products. Typically, such claims assert that use of smokeless products is addictive and causes oral cancer. Additionally, several lawsuits have been brought against manufacturers and distributors of Creative Distribution Solutions products due to malfunctioning devices. Master Settlement Agreement (MSA) Pursuant to the Master Settlement Agreement (the “MSA”) entered into in November 1998 by most states (represented by their attorneys general acting through the National Association of Attorneys General) and subsequent states’ statutes, a “cigarette manufacturer” (which is defined to include a manufacturer of make-your-own (“MYO”) cigarette tobacco) has the option of either becoming a signatory to the MSA or opening, funding, and maintaining an escrow account to have funds available for certain potential tobacco-related liabilities with sub-accounts on behalf of each settling state. Such companies are entitled to direct the investment of the escrowed funds and withdraw any appreciation but cannot withdraw the principal for twenty-five years from the year of each annual deposit, except to withdraw funds deposited pursuant to an individual state’s escrow statute to pay a final judgement to that state’s plaintiffs in the event of such a final judgement against the Company. The Company chose to open and fund an escrow account as its method of compliance. It is the Company’s policy to record amounts on deposit in the escrow account for prior years as a non-current asset. As of March 31, 2024, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $28.4 million. At December 31, 2023, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $28.7 million. The Company discontinued its generic category of MYO in 2019 and its Zig-Zag branded MYO cigarette smoking tobacco in 2017. Thus, pending a change in MSA legislation, the Company has no remaining product lines covered by the MSA and will not be required to make future escrow deposits. The Company has chosen to invest a portion of the MSA escrow, from time to time, in U.S. Government securities including TIPS, Treasury Notes, and Treasury Bonds. These investments are classified as available-for-sale and carried at fair value. Realized losses are prohibited under the MSA; any investment in an unrealized loss position will be held until the value is recovered, or until maturity. Fair values for the U.S. Governmental agency obligations are Level 2 in the fair value hierarchy. The following tables show cost and estimated fair value of the assets held in the MSA account, respectively, as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of March 31, 2024 As of December 31, 2023 Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Cost Gains (Losses) Value Cost Losses Value Cash and cash equivalents $ 1,934 $ – $ 1,934 $ 1,929 $ – $ 1,929 U.S. Governmental agency obligations (unrealized position < 12 months) 1,196 6 1,202 – – – U.S. Governmental agency obligations (unrealized position > 12 months) 28,943 (3,652 ) 25,291 30,144 (3,389 ) 26,755 $ 32,073 $ (3,646 ) $ 28,427 $ 32,073 $ (3,389 ) $ 28,684 As of March 31, 2024 Less than one year $ 3,250 One to five years 13,775 Five to ten years 11,159 Greater than ten years 1,955 Total $ 30,139 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, 2024 December 31, 2023 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,714 3,714 2005 4,553 4,553 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,619 1,619 2010 406 406 2011 193 193 2012 199 199 2013 173 173 2014 143 143 2015 101 101 2016 91 91 2017 82 82 Total $ 32,073 $ 32,073

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Mar. 31, 2024
Derivative Instruments [Abstract]
Derivative Instruments	Note 3. Derivative Instruments Foreign Currency During the three months ended March 31, 2024 , the Company executed no foreign exchange contracts meeting hedge accounting requirements. At March 31, 2024, the Company had foreign currency contracts outstanding for the purchase of €9.2 million and sale of €9.2 million. The foreign currency contracts’ fair value at March 31, 2024, resulted in an asset of $0.0 million included in Other current assets and a liability of $0.1 million included in Accrued liabilities. At December 31, 2023, the Company had foreign currency contracts outstanding for the purchase of €15.2 million and sale of €15.2 million. The foreign currency contracts’ fair value at December 31, 2023, resulted in an asset of $0.3 million included in Other current assets and a liability of $0.1 million included in Accrued liabilities.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
Fair Value of Financial Instruments	Mar. 31, 2024
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 4. Fair Value of Financial Instruments The estimated fair value amounts have been determined by the Company using the methods and assumptions described below. However, considerable judgment is required to interpret market data to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Cash and Cash Equivalents Cash and cash equivalents are, by definition, short-term. Thus, the carrying amount is a reasonable estimate of fair value. Accounts Receivable The fair value of accounts receivable approximates their carrying value due to their short-term nature. Long-Term Debt The Company’s Senior Secured Notes (as defined in Note 10) bear interest at a rate of per year. As of March 31, 2024 million, with a carrying value of As of December 31, 2023, the fair value of the Senior Secured Notes approximated $234.9 million, with a carrying value of The Convertible Senior Notes (as defined in Note 10) bear interest at a rate of 2.50% per year, and the fair value of the Convertible Senior Notes without the conversion feature approximated million, with a carrying value of million as of March 31, 2024 approximated $114.7 million, with a carrying value of million. See Note 10, “Notes Payable and Long-Term Debt”, for further information regarding the Company’s long-term debt.

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2024
Inventories [Abstract]
Inventories	Note 5. Inventories The components of inventories are as follows: March 31, December 31, 2024 2023 Raw materials and work in process $ 7,148 $ 5,201 Leaf tobacco 41,461 34,894 Finished goods - Zig-Zag Products 39,103 41,783 Finished goods - Stoker’s Products 10,232 8,090 Finished goods - Creative Distribution Solutions 6,086 7,281 Other 1,437 1,711 Inventories $ 105,467 $ 98,960 The inventory valuation allowance was $20.6 million as of March 31, 2024 and December 31, 2023. In December 2023, a third-party warehouse in Tennessee used to store some of the Company’s leaf tobacco incurred significant tornado damage resulting in damage to the leaf tobacco. As a result, the Company recorded a $15.2 million inventory reserve related to its leaf tobacco inventory which is included in Other operating income, net in the consolidated statement of income for the quarter ended December 31, 2023. The leaf tobacco inventory is covered by the Company’s stock throughput insurance policy and the Company believes the inventory loss is probable of being fully recovered under the policy. The Company does not expect to incur any delays in customer deliveries as a result of the damage.

Other Current Assets

Other Current Assets	3 Months Ended
Other Current Assets	Mar. 31, 2024
Other Current Assets [Abstract]
Other Current Assets	Note 6. Other Current Assets Other current assets consist of: March 31, December 31, 2024 2023 Inventory deposits $ 7,392 $ 5,707 Insurance deposit – 3,000 Prepaid taxes – 153 Settlement receivable – 4,000 Insurance recovery receivable 15,181 15,181 Other 11,864 12,740 Total $ 34,437 $ 40,781

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
Property, Plant, and Equipment	Mar. 31, 2024
Property, Plant, and Equipment [Abstract]
Property, Plant, and Equipment	Note 7. Property, Plant, and Equipment Property, plant, and equipment consists of: March 31, December 31, 2024 2023 Land $ 22 $ 22 Buildings and improvements 4,217 3,956 Leasehold improvements 6,614 5,440 Machinery and equipment 28,568 29,751 Furniture and fixtures 8,439 8,391 Gross property, plant and equipment 47,860 47,560 Accumulated depreciation (23,070 ) (22,260 ) Net property, plant and equipment $ 24,790 $ 25,300

Other Assets

Other Assets	3 Months Ended
Other Assets	Mar. 31, 2024
Other Assets [Abstract]
Other Assets	Note 8. Other Assets Other assets consist of: March 31, December 31, 2024 2023 Non-marketable equity investments $ 2,882 $ 2,405 Debt security investment 6,750 6,750 Capitalized software 6,108 5,923 Available-for-sale marketable securities 7,125 – Other 88 88 Total $ 22,953 $ 15,166 Debt and Non-Marketable Equity Investments The Company records its non-marketable equity investments without a readily determinable fair value, that are not accounted for under the equity method, at cost, with adjustments for impairment and observable price changes. Should assumptions underlying the determination of the fair values of the Company’s non-marketable equity and debt security investments change, it could result in material future impairment charges. In January 2024, the Company invested $0.8 million to acquire an 18.744% stake in Teaza Energy, LLC (“TeaZa”). TeaZa is an innovative brand of flavorful oral pouch products that can be dipped or sipped, designed as a health-conscious alternative to high energy drinks and other conventional oral stimulants. The investment is comprised of $0.5 million in cash and a $0.3 million payable to be offset against the Company’s allocated portion of future profit distributions. The Company also has options to purchase, at fair value, up to 51.744% of the equity interest in TeaZa between September 30, 2024 and January 31, 2025, and up to 100% of the equity interest from February 1, 2025 to June 30, 2026. The Company accounts for its investment in TeaZa In July 2021, the Company invested $8.0 million in Old Pal Holding Company LLC (“Old Pal”). In July 2022, the Company invested an additional $1.0 million in Old Pal. The Company invested in the form of a convertible note which includes additional follow-on investment rights. The accrued interest of $0.2 $9.2 million. Old Pal is a leading brand in the cannabis lifestyle space that operates a non-plant touching licensing model. The convertible note bears an interest rate of 3.0% per year and matures July 31, 2026. one-year increments. The interest rate is subject to change based on Old Pal reaching certain sales thresholds. The weighted average 3.0% for the three months ended March 31, 2024 and 2023. Old Pal has the option to convert the note into shares once sales reach a certain threshold. The conditions required to allow Old Pal to convert the note were not met as of March 31, 2024. Additionally, the Company has the right to convert the note into shares at any time. The Company has classified the debt security with Old Pal as available for sale. The Company reports interest income on available for sale debt securities in interest income in our Consolidated Statements of Income. Quarterly, we perform a qualitative assessment to determine if the fair value of the In April 2021, the Company invested $8.7 million in Docklight Brands, Inc., a pioneering consumer products company with celebrated brands including Marley Natural® and Marley™. The Company has additional follow-on investment rights. As part of the investment, the Company has obtained exclusive U.S. distribution rights for Docklight’s Marley™ CBD topical products. In the first quarter of 2023, based on Docklight’s financial results and other operating difficulties, and the decline in the revenue multiples for public companies comparable to Docklight, the Company deemed the investment in Docklight was impaired resulting in a loss of $4.9 million which was recorded for the three months ended March 31, 2023. In the second quarter of 2023, based on a significant change in Docklight’s business model, the Company deemed its investment in Docklight fully impaired. Fair value for all periods presented was determined using a valuation derived from relevant revenue multiples (Level 3). Available-for-Sale Marketable Securities In December 2023, the Company formed a captive insurance company, Interchange IC, incorporated in the District of Columbia, to write a portion of our general product, and officer and director liability coverages under deductible reinsurance policies. Interchange IC is a fully licensed captive insurance company holding a certificate of authority from the District of Columbia Department of Insurance, Securities and Banking. Interchange IC is a wholly-owned subsidiary of Turning Point Brands and is consolidated in the Company’s financial statements. The investments held within the captive are not available for operating activities and are carried at fair value on the consolidated balance sheet. They consist of money market, corporate bonds, government securities, real e state investment trusts and exchange traded funds. The Company believes any impairment of investments held with gross unrealized losses to be temporary and not the result of credit risk. The Company’s captive investments are summarized in the following table. As of March 31, 2024 Gross Estimated Amortized Unrealized Fair Cost Gains (Losses) Value Corporate bonds $ 1,703 $ 8 $ 1,711 U.S. Governmental agency obligations 1,799 (3 ) 1,796 Real estate investment trusts and exchange traded funds 3,617 1 3,618 $ 7,119 $ 6 $ 7,125 The following table summarizes the fair value of the Company’s captive investments by contractual maturity. As of March 31, 2024 Due within one year $ 1,711 Due after ten years 1,796 Real estate investment trusts and exchange traded funds 3,618 Total investments at fair value $ 7,125

Accrued Liabilities

Accrued Liabilities	3 Months Ended
Accrued Liabilities	Mar. 31, 2024
Accrued Liabilities [Abstract]
Accrued Liabilities	Note 9. Accrued Liabilities Accrued liabilities consist of: March 31, December 31, 2024 2023 Accrued payroll and related items $ 4,669 $ 7,085 Customer returns and allowances 4,642 5,239 Taxes payable 6,995 3,821 Lease liabilities 2,615 2,678 Accrued interest 2,221 6,682 Other 9,832 8,130 Total $ 30,974 $ 33,635

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	3 Months Ended
Notes Payable and Long-Term Debt	Mar. 31, 2024
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Note 10. Notes Payable and Long-Term Debt Notes payable and long-term debt consists of the following in order of preference: March 31, December 31, 2024 2023 Senior Secured Notes $ 250,000 $ 250,000 Convertible Senior Notes 118,541 118,541 Gross notes payable and long-term debt 368,541 368,541 Less deferred finance charges (2,648 ) (3,183 ) Less current maturities (59,397 ) (58,294 ) Notes payable and long-term debt $ 306,496 $ 307,064 Senior Secured Notes On February 11, 2021, the Company closed a private offering (the “Offering”) of $250.0 million aggregate principal amount of its 5.625% senior secured notes due 2026 (the “Senior Secured Notes” or the “Notes”). The Senior Secured Notes bear interest at a rate of 5.625% and will mature on February 15, 2026. Interest on the Senior Secured Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2021.The Company used the proceeds from the Offering (i) to repay all obligations under and terminate the 2018 First Lien Credit Facility, (ii) to pay related fees, costs, and expenses and (iii) for general corporate purposes. Obligations under the Senior Secured Notes are guaranteed by the Company’s existing and future wholly-owned domestic subsidiaries (the “Guarantors”) that guarantee any credit facility (as defined in the indenture governing the Senior Secured Notes or the “Senior Secured Notes Indenture”) or capital markets debt securities of the Company or Guarantors in excess of $ 15.0 million. The and the related guarantees are secured by first-priority liens on substantially all of the assets of the Company and the Guarantors, subject to certain exceptions. The Company may redeem the Senior Secured Notes, in whole or in part, at any time at the redemption prices (expressed as a percentage of the principal amount to be redeemed) set forth below, plus accrued and unpaid interest, if any, on the Senior Secured Notes to be redeemed to (but not including) the applicable redemption date if redeemed during the period indicated below: On or after February 15, 2023 102.813 % On or after February 15, 2024 101.406 % On or after February 15, 2025 and thereafter 100.000 % If the Company experiences a change of control (as defined in the Senior Secured Notes Indenture), the Company must offer to repurchase the Senior Secured Notes at a repurchase price equal to 101% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest. The Senior Secured Notes Indenture contains covenants that, among other things, restrict the ability of the Company and its restricted subsidiaries to: (i) grant or incur liens; (ii) incur, assume or guarantee additional indebtedness; (iii) sell or otherwise dispose of assets, including capital stock of subsidiaries; (iv) make certain investments; (v) pay dividends, make distributions or redeem or repurchase capital stock; (vi) engage in certain transactions with affiliates; and (vii) consolidate or merge with or into, or sell substantially all of our assets to another entity. These covenants are subject to a number of limitations and exceptions set forth in the Senior Secured Notes Indenture. The Senior Secured Notes Indenture provides for customary events of default . The Company was in compliance with all covenants as of March 31, 2024. The Company incurred debt issuance costs attributable to the issuance of the Senior Secured Notes of $6.4 million which are amortized to interest expense using the straight-line method over the expected life of the Senior Secured Notes. 2021 Revolving Credit Facility In connection with the Offering, the Company also entered into a $25.0 million senior secured revolving credit facility (the “ 2021 Revolving Credit Facility”) with the lenders party thereto and Barclays Bank PLC, as administrative agent and collateral agent (in such capacity, the “Agent”). On November 7, 2023, in connection with the entry by a subsidiary of the Company in a new asset-backed revolving credit facility, the Company terminated the Amended Revolving Credit Facility. See “2023 ABL Facility” below. The Company had letters of credit outstanding under the Amended Revolving Credit Facility of approximately $1.4 million that were terminated with the facility in the fourth quarter of 2023. The Company incurred debt issuance costs attributable to the issuance of the Amended Revolving Credit Facility of $0.5 million, with the remaining $0.2 million written off to gain on debt extinguishment upon termination of the facility. 2023 ABL Facility On November 7, The 2023 ABL Facility contains customary borrowing conditions including a borrowing base equal to the sum of Amounts borrowed under the 2023 ABL Facility are subject to an interest rate per annum equal to Level Historical Excess Availability Applicable Margin for SOFR Loans Applicable Margin for Base Rate Loans I Greater than or equal to 66.66% 1.75% 0.75% II Less than 66.66%, but greater than or equal to 33.33% 2.00% 1.00% III Less than 33.33% 2.25% 1.25% The 2023 ABL Facility also requires the Company and its restricted subsidiaries to maintain a fixed charge coverage ratio of at least 1.00 to 1.00 as of the end of any four consecutive fiscal quarters if The 2023 ABL Facility shall mature on the earlier of (x) November 7, 2027 and (y) the date that is 91 days prior to the maturity date of any material debt of the ABL Borrower or the Company or any of its restricted subsidiaries (subject to customary extensions agreed by the lenders thereunder); provided that clause (y) shall not apply to the extent that on any applicable date of determination (on any date prior to the date set forth in clause (y)), (A) the sum of (x) cash that is held in escrow for the repayment of such material debt pursuant to arrangements satisfactory to the Administrative Agent, (y) cash that is held in accounts with the Administrative Agent and/or the Additional Collateral Agent, plus (z) excess availability, is sufficient to repay such material debt and (B) the ABL Borrower has excess availability of at least $15.0 million after giving effect to such repayment of material debt, including any borrowings under the commitments in connection therewith. The Company has not drawn any borrowings under the 2023 ABL Facility but has letters of credit of approximately $1.2 million outstanding under the facility and has an available balance of $59.0 million based on the borrowing base as of March 31, 2024. Convertible Senior Notes In July 2019, the Company closed an offering of $172.5 million in aggregate principal amount of its 2.50% Convertible Senior Notes due July 15, 2024 (the “Convertible Senior Notes”). The Convertible Senior Notes bear interest at a rate of 2.50% per year, payable semiannually in arrears on January 15 and July 15 of each year, beginning on January 15, 2020. The Convertible Senior Notes are senior unsecured obligations of the Company. In 2023, a wholly owned subsidiary of the Company repurchased $44.0 million in aggregate principal amount of the Convertible Senior Notes on the open market resulting in a $1.9 million gain on extinguishment of debt. The Convertible Senior Notes held by third parties are convertible into approximately 2,219,704 shares of TPB Common Stock under certain circumstances prior to maturity at a conversion rate of 18.7252 shares per $1,000 principal amount of the Convertible Senior Notes, which represents a conversion price of approximately $53.40 per share, subject to adjustment under certain conditions, but will not be adjusted for any accrued and unpaid interest. The conversion price is adjusted periodically as a result of dividends paid by the Company in excess of pre-determined thresholds of $0.04 per share. Upon conversion, the Company may pay cash, shares of common stock or a combination of cash and stock, as determined by the Company at its discretion. The conditions required to allow the holders to convert their Convertible Senior Notes were not met as of March 31, 2024. As discussed above, on November 7 , $75.0 million . As a result, the Company classified $59.0 million related to the Convertible Senior Notes in Notes payable long-term debt The Company incurred debt issuance costs attributable to the Convertible Senior Notes of $5.9 million which are amortized to interest expense using the straight-line method over the expected life of the Convertible Senior Notes. In connection with the Convertible Senior Notes offering, the Company entered into privately negotiated capped call transactions with certain financial institutions. The capped call transactions have a strike price of $53.40 per share and a cap price of $82.86 per share, and are exercisable when, and if, the Convertible Senior Notes are converted. The Company paid $20.53 million for these capped calls at the time they were entered into and charged that amount to additional paid-in capital.

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	Note 11. Leases The Company’s leases consist primarily of leased property for manufacturing, warehouse, corporate offices and retail space, as well as vehicle leases. At lease inception, the Company recognizes a lease right of use asset and lease liability calculated as the present value of future minimum lease payments. In general, the Company does not recognize any renewal periods within the lease terms as there are no significant barriers to ending the lease at the initial term. Lease and non-lease components are accounted for as a single lease component. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense for these leases is recognized on a straight-line basis over the lease term. The components of lease expense consisted of the following: Three Months Ended March 31, 2024 2023 Operating lease cost Cost of sales $ 133 $ 128 Selling, general and administrative 464 521 Variable lease cost (1) 297 225 Short-term lease cost – 6 Total $ 894 $ 880 (1) Variable lease cost includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying. Three Months Ended March 31, 2024 2023 Financing lease cost Selling, general and administrative $ 150 $ 338 Total $ 150 $ 338 March 31, December 31, 2024 2023 Assets: Right of use assets - Operating $ 8,714 $ 8,950 Right of use assets - Financing 2,154 2,530 Total lease assets $ 10,868 $ 11,480 Liabilities: Current lease liabilities - Operating $ 1,946 $ 1,991 Current lease liabilities - Financing (2) 669 687 Long-term lease liabilities - Operating 7,925 8,374 Long-term lease liabilities - Financing 1,435 1,576 Total lease liabilities $ 11,975 $ 12,628 (2) Reported within accrued liabilities on the balance sheet.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Taxes [Abstract]
Income Taxes	Note 12. Income Taxes The Company’s effective income tax rate for the three months ended March 31, 2024 was 23.4%. The Company’s effective income tax rate for the three months ended March 31, 2023 was 25.2% . The Company follows the provisions of ASC 740-10-25, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company has determined that the Company did not have any uncertain tax positions requiring recognition under the provisions of ASC 740-10-25. The Company’s policy is to recognize interest and penalties accrued on uncertain tax positions, if any, as part of interest expense. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. In general, the Company is no longer subject to U.S. federal and state tax examinations for years prior to 2020.

Share Incentive Plans

Share Incentive Plans	3 Months Ended
Share Incentive Plans	Mar. 31, 2024
Share Incentive Plans [Abstract]
Share Incentive Plans	Note 13. Share Incentive Plans On March 22, 2021, the Company’s Board of Directors adopted the Turning Point Brands, Inc. 2021 Equity Incentive Plan (the “2021 Plan”), pursuant to which awards may be granted to employees, non-employee directors, and consultants. In addition, the 2021 Plan provides for the granting of nonqualified stock options to employees of the Company or any subsidiary of the Company. Pursuant to the 2021 Plan, 1,290,000 shares, plus 100,052 shares remaining available for issuance under the 2015 Equity Incentive Plan (the “2015 Plan”), of TPB Common Stock are reserved for issuance as awards to employees, non-employee directors, and consultants as compensation for past or future services or the attainment of certain performance goals. The 2021 Plan is scheduled to terminate on March 21, 2031. The 2021 Plan is administered by the compensation committee (the “Committee”) of the Company’s Board of Directors. The Committee determines the vesting criteria for the awards, with such criteria to be specified in the award agreement. As of March 31, 2024, net of forfeitures, there were Restricted Stock Units (“RSUs”), options and Performance Based Restricted Stock Units (“PRSUs”) On April 28, 2016, the Board of Directors of the Company adopted the 2015 Plan, pursuant to which awards could have been granted to employees, non-employee directors, and consultants. In addition, the 2015 Plan provided for the granting of nonqualified stock options to employees of the Company or any subsidiary of the Company. Upon adoption of the 2021 Plan, the 2015 Plan was terminated, and the Company determined additional grants would be made under the 2015 Plan. However, all awards issued under the 2015 Plan that have not been previously terminated or forfeited remain outstanding and continue unaffected. There are shares available for grant under the 2015 Plan. On February 8, 2006, the Board of Directors of the Company adopted the 2006 Equity Incentive Plan (the “2006 Plan”) of North Atlantic Holding Company, Inc., pursuant to which nonqualified stock options and restricted stock awards may be granted to employees. Upon the adoption of the Company’s 2015 Equity Incentive Plan in connection with its IPO, the Company determined no additional grants would be made under the 2006 Plan. However, all awards issued under the 2006 Plan that have not been previously terminated or forfeited remain outstanding and continue unaffected. There are no shares available for grant under the 2006 Plan. Stock option activity for the 2006, 2015 and 2021 Plans is summarized below: Weighted Weighted Stock Average Average Option Exercise Grant Date Shares Price Fair Value Outstanding, December 31, 2022 683,214 $ 29.74 $ 9.24 Granted 77,519 20.71 6.45 Exercised (33,851 ) 13.30 4.24 Forfeited (69,931 ) 27.51 9.11 Outstanding, December 31, 2023 656,951 $ 29.79 $ 9.18 Granted 54,289 27.19 9.21 Exercised (198 ) 14.85 4.41 Forfeited (6,433 ) 30.19 8.85 Outstanding, March 31 2024 704,609 $ 29.59 $ 9.19 Under the 2006, 2015 and 2021 Plans, the total intrinsic value of options exercised during the three months ended March 31, 2024 and 2023, was $0.0 million, and $0.2 million, respectively. At March 31, 2024, under the 2006 Plan, the exercise price for the 43,693 outstanding options is $3.83 per share, all of which are exercisable. The weighted average of the remaining lives of the outstanding stock options with an exercise price of $3.83 is approximately 0.35 years. The Company estimates the expected life of these stock options is ten years from the date of grant. For the $3.83 per share options, the weighted average fair value of options at the date of grant was determined using the Black-Scholes model with the following assumptions: a ten-year life from grant date, a current share price and exercise price of $3.83, a risk-free interest rate of 3.57%, volatility of 40%, and no assumed dividend yield. Based on these assumptions, the fair value of these options is approximately $2.17 per share option granted. At March 31, 2024, under the 2015 and 2021 Plans, the risk-free interest rate is based on the U.S. Treasury rate for the expected life at the time of grant. The expected volatility is based on the average long-term historical volatilities of peer companies. We intend to continue to consistently use the same group of publicly traded peer companies to determine expected volatility until sufficient information regarding volatility of our share price becomes available or until the selected companies are no longer suitable for this purpose. Due to our limited trading history, we are using the simplified method presented by SEC Staff Accounting Bulletin No. 107 to calculate expected holding periods, which represent the periods of time for which options granted are expected to be outstanding. We will continue to use this method until we have sufficient historical exercise experience to give us confidence in the reliability of our calculations. The fair values of these options were determined using the Black-Scholes option pricing model. The following table outlines the assumptions based on the number of options granted under the 2015 Plan. February 10, May 17, March 7, March 20, October 24, March 18, February 18, May 3, 2017 2017 2018 2019 2019 2020 2021 2021 Number of options granted 40,000 93,819 98,100 155,780 25,000 155,000 100,000 12,000 Options outstanding at March 31 2024 20,000 38,033 51,067 124,864 25,000 77,777 87,350 12,000 Number exercisable at March 31 2024 20,000 38,033 51,067 124,864 25,000 77,777 87,350 12,000 Exercise price $ 13.00 $ 15.41 $ 21.21 $ 47.58 $ 20.89 $ 14.85 $ 51.75 $ 47.76 Remaining lives 2.87 3.13 3.94 4.97 5.57 5.97 6.89 7.09 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.34 % 1.58 % 0.79 % 0.56 % 0.84 % Expected volatility 27.44 % 26.92 % 28.76 % 30.95 % 31.93 % 35.72 % 28.69 % 29.03 % Expected life 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 Dividend yield – – 0.83 % 0.42 % 0.95 % 1.49 % 0.55 % 0.59 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 15.63 $ 6.27 $ 4.41 $ 13.77 $ 13.06 The following table outlines the assumptions based on the number of options granted under the 2021 Plan. May 17, March 14, April 29, May 12 March 11, 2021 2022 2022 2023 2024 Number of options granted 7,500 100,000 14,827 77,519 54,289 Options outstanding at March 31 2024 7,500 70,690 14,827 77,519 54,289 Number exercisable at March 31 2024 7,500 47,442 9,935 77,519 – Exercise price $ 45.05 $ 30.46 $ 31.39 $ 20.71 $ 27.19 Remaining lives 7.13 7.96 8.08 9.12 9.95 Risk free interest rate 0.84 % 2.10 % 2.92 % 3.41 % 4.06 % Expected volatility 31.50 % 35.33 % 35.33 % 34.51 % 35.09 % Expected life 6.000 6.000 6.000 5.186 5.186 Dividend yield 0.63 % 1.01 % 0.98 % 1.61 % 1.26 % Fair value at grant date $ 13.23 $ 10.23 $ 11.07 $ 6.45 $ 9.21 The Company has recorded compensation expense related to the options based on the provisions of ASC 718 under which the fixed portion of such expense is determined as the fair value of the options on the date of grant and amortized over the vesting period. The Company recorded compensation expense related to the options of approximately $0.3 million and $0.0 million for the three months ended March 31, 2024 and 2023, respectively. Total unrecognized compensation expense related to options at March 31, 2024, is $0.3 million, which will be expensed over 0.75 year s. PRSUs are restricted stock units subject to both performance-based and service-based vesting conditions. The number of shares of TPB Common Stock a recipient will receive upon vesting of a PRSU will be calculated by reference to certain performance metrics related to the Company’s performance over a five-year period. PRSUs will vest on the measurement date, which is no more than days after the performance period provided the applicable service and performance conditions are satisfied. As of March 31, 2024 there are PRSUs outstanding. The following table outlines the PRSUs granted and outstanding as of March 31, 2024 . March 18, February 18, March 14, May 4, March 1, 2020 2021 2022 2023 2024 Number of PRSUs granted 94,000 100,000 49,996 133,578 111,321 PRSUs outstanding at March 31 2024 80,910 82,190 40,325 132,520 111,321 Fair value as of grant date $ 14.85 $ 51.75 $ 30.46 $ 22.25 $ 26.52 Remaining lives 0.75 1.75 2.75 1.75 2.75 The Company recorded compensation expense related to the PRSUs of approximately $0.9 million and $0.5 million in the consolidated statements of income for the three months ended March 31, 2024 and 2023, respectively, based on the probability of achieving the performance condition. Total unrecognized compensation expense related to these awards at March 31, 2024, is $6.1 million which will be expensed over the service periods based on the probability of achieving the performance conditio n. The Company has granted 325,523 RSUs which are outstanding and vest over one The following table outlines the RSUs granted and outstanding as of March 31, 2024 March 14, March 14, April 29, May 5, May 8, March 1, March 11, 2022 2022 2022 2023 2023 2024 2024 Number of RSUs granted 50,004 28,726 4,522 130,873 20,101 105,257 18,389 RSUs outstanding at March 31, 2024 39,367 9,481 4,522 128,406 20,101 105,257 18,389 Fair value as of grant date $ 30.46 $ 30.46 $ 31.39 $ 22.25 $ 21.77 $ 26.52 $ 27.19 Remaining lives 2.75 0.75 2.75 2.00 0.10 3.00 0.75 The Company has recorded compensation expense related to the RSUs based on the provisions of ASC 718 under which the fixed portion of such expense is determined as the fair value of the RSUs on the date of grant and amortized over the vesting period. The Company recorded compensation expense related to the RSUs of approximately $0.9 million and $0.3 million for the three months ended March 31, 2024 and 2023. Total unrecognized compensation expense related to RSUs at March 31, 2024, is $5.1 million, which will be expensed over 2.52 years.

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2024
Contingencies [Abstract]
Contingencies	Note 14. Contingencies On October 9, 2020, a purported stockholder of Turning Point Brands, Inc., Paul-Emile Berteau, filed a complaint in the Delaware Court of Chancery relating to the merger of Standard Diversified, Inc. (“SDI”) with a TPB subsidiary (“Merger Sub”)pursuant to the Agreement and Plan of Merger and Reorganization, dated as of April 7, 2020, by and among TPB, SDI and Merger Sub. The parties attended a mediation in late November 2022 where a settlement was reached. On December 12, 2023, the Court approved the settlement and dismissed the action with prejudice. As of December 31, 2023, the Company recorded a $4.0 million receivable in other current assets, and a corresponding gain on settlement in other income on its Consolidated Statement of Income for the year ended December 31, 2023. These funds were received in January 2024. Other major tobacco companies are defendants in product liability claims. In a number of these cases, the amounts of punitive and compensatory damages sought are significant and, if such a claim were brought against the Company, could have a material adverse effect on our business and results of operations. The Company is subject to several lawsuits alleging personal injuries resulting from malfunctioning vaporizer devices or batteries and may be subject to claims in the future relating to our other products. . We have several subsidiaries engaged in making, distributing, and selling liquid nicotine products. We expect that our subsidiaries will be

Income Per Share

Income Per Share	3 Months Ended
Income Per Share	Mar. 31, 2024
Income Per Share [Abstract]
Income Per Share	Note 15. Income Per Share The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations of net income: Three Months Ended March 31, 2024 2023 Per Per Income Shares Share Income Shares Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 12,010 $ 7,597 Denominator Weighted average 17,654,684 $ 0.68 17,531,414 $ 0.43 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 12,010 $ 7,597 Interest expense related to Convertible Senior Notes, net of tax 731 954 Diluted net income attributable to Turning Point Brands. Inc. $ 12,741 $ 8,551 Denominator Basic weighted average 17,654,684 17,531,414 Convertible Senior Notes 2,218,018 3,029,699 Stock options and restricted stock units 297,612 108,039 20,170,314 $ 0.63 20,669,152 $ 0.41

Segment Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2024
Segment Information [Abstract]
Segment Information	Note 16. Segment Information In accordance with ASC 280, Segment Reporting, the Company has three reportable segments, (1) Zig-Zag Products; (2) Stoker’s Products; and (3) Creative Distribution Solutions. The Zig-Zag Products segment markets and distributes (a) rolling papers, tubes, and related products; (b) finished cigars and MYO cigar wraps and (c) CLIPPER reusable lighters and other accessories. The Stoker’s Products segment (a) manufactures and markets moist snuff and (b) contracts for and markets loose-leaf chewing tobacco products. The Creative Distribution Solutions segment (a) markets and distributes liquid nicotine products and certain other products without tobacco and/or nicotine; (b) distributes a wide assortment of products to non-traditional retail outlets via Vapor Beast; and (c) markets and distributes a wide assortment of products to individual consumers via the VaporFi B2C online platform. Products in the Zig-Zag Products and Stoker’s Products segments are distributed primarily through wholesale distributors in the U.S. and Canada while products in the Creative Distribution Solutions segment are distributed primarily through e-commerce to non-traditional retail outlets and direct to consumers in the U.S. Corporate unallocated includes the costs and assets of the Company not assigned to one of the three reportable segments such as intercompany transfers, deferred taxes, deferred financing fees, and investments in subsidiaries. The accounting policies of these segments are the same as those of the Company. Corporate costs are not directly charged to the three reportable segments in the ordinary course of operations. The Company evaluates the performance of its segments and allocates resources to them based on operating income. The tables below present financial information about reported segments: Three Months Ended March 31, 2024 2023 Net sales Zig-Zag products $ 46,697 $ 41,887 Stoker’s products 36,367 33,662 Total Zig-Zag and Stoker’s products $ 83,064 $ 75,549 Creative Distribution Solutions 13,994 25,407 Total $ 97,058 $ 100,956 Gross profit Zig-Zag products $ 27,538 $ 22,390 Stoker’s products 20,815 19,465 Total Zig-Zag and Stoker’s products $ 48,353 $ 41,855 Creative Distribution Solutions 3,559 6,762 Total $ 51,912 $ 48,617 Operating income (loss) Zig-Zag products $ 18,000 $ 13,641 Stoker’s products 15,396 14,563 Corporate unallocated (1)(2) (14,127 ) (10,623 ) Total Zig-Zag and Stoker’s products $ 19,269 $ 17,581 Creative Distribution Solutions (3 ) 261 Total $ 19,266 $ 17,842 Interest expense, net 3,479 4,010 Investment (income) loss (119 ) 4,799 Gain on extinguishment of debt – (777 ) Income before income taxes $ 15,906 $ 9,810 Capital expenditures Zig-Zag products $ 166 $ 973 Stoker’s products 200 1,462 Total Zig-Zag and Stoker’s products $ 366 $ 2,435 Creative Distribution Solutions – – Total $ 366 $ 2,435 Depreciation and amortization Zig-Zag products $ 274 $ 267 Stoker’s products 879 706 Total Zig-Zag and Stoker’s products $ 1,153 $ 973 Creative Distribution Solutions 570 574 Total $ 1,723 $ 1,547 (1) Includes corporate costs that are not allocated to any of the three reportable segments. (2) Includes costs related to PMTA of $0.8 million in 2024 and $0.1 million in 2023. March 31, December 31, 2024 2023 Assets Zig-Zag products $ 176,629 $ 177,135 Stoker’s products 187,794 174,994 Corporate unallocated (1) 194,702 190,223 Total Zig-Zag and Stoker’s products $ 559,125 $ 542,352 Creative Distribution Solutions 27,191 27,004 Total $ 586,316 $ 569,356 (1) Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments. Revenue Disaggregation—Sales Channel Revenues of the Zig-Zag Products and Stoker’s Products segments are primarily comprised of sales made to wholesalers while Creative Distribution Solutions sales are made business to business and business to consumer, both online and through our corporate retail stores. Creative Distribution Solutions net sales are broken out by sales channel below. Creative Distribution Solutions Segment Three Months Ended March 31, 2024 2023 Business to Business $ 12,585 $ 22,493 Business to Consumer - Online 1,380 2,810 Other 29 104 Total $ 13,994 $ 25,407 Net Sales—Domestic vs. Foreign The following table shows a breakdown of consolidated net sales between domestic and foreign customers. Three Months Ended March 31, 2024 2023 Domestic $ 89,910 $ 93,860 Foreign 7,148 7,096 Total $ 97,058 $ 100,956

Additional Information with Res

Additional Information with Respect to Unrestricted Subsidiary	3 Months Ended
	Mar. 31, 2024
Additional Information with Respect to Unrestricted Subsidiary [Abstract]
Additional Information with Respect to Unrestricted Subsidiary	Note 17. Additional Information with Respect to Unrestricted Subsidiary Under the terms of the Senior Secured Notes Indenture and Senior Secured Notes, the Company has designated its subsidiaries, South Beach Brands LLC, TPB Beast LLC and Intrepid Brands, LLC as “Unrestricted Subsidiaries”. South Beach Brands LLC is a holding company under which our vape business TPB Beast LLC operating as Creative Distribution Solutions sits. The Company is required under the terms of the Senior Secured Notes Indenture and the Senior Secured Notes to present additional information that reflects the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Company’s Unrestricted Subsidiaries as of and for the periods presented. This additional information is below. Income Statement for the Three Months Ended March 31, 2024 and 2023 (unaudited): Three Months Ended March 31 2024 2023 Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Net sales $ 83,064 $ 13,994 $ 97,058 $ 75,549 $ 25,407 $ 100,956 Cost of sales 34,711 10,435 45,146 33,694 18,645 52,339 Gross profit 48,353 3,559 51,912 41,855 6,762 48,617 Selling, general, and administrative expenses 29,084 3,562 32,646 24,274 6,501 30,775 Operating income (loss) 19,269 (3 ) 19,266 17,581 261 17,842 Interest expense, net 3,479 – 3,479 4,010 – 4,010 Investment (gain) loss (119 ) – (119 ) 4,799 – 4,799 Gain on extinguishment of debt – – – (777 ) – (777 ) Income (loss) before income taxes 15,909 (3 ) 15,906 9,549 261 9,810 Income tax expense (benefit) 3,728 (1 ) 3,727 2,402 66 2,468 Consolidated net income (loss) 12,181 (2 ) 12,179 7,147 195 7,342 Net income (loss) attributable to non-controlling interest 169 – 169 (255 ) – (255 ) Net income (loss) attributable to Turning Point Brands, Inc. $ 12,012 $ (2 ) $ 12,010 $ 7,402 $ 195 $ 7,597 Balance Sheet as of March 31, 2024 (unaudited): ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 126,066 $ 4,837 $ – $ 130,903 Accounts receivable, net 8,198 – – 8,198 Inventories, net 99,381 6,086 – 105,467 Other current assets 32,836 1,601 – 34,437 Total current assets 266,481 12,524 – 279,005 Property, plant, and equipment, net 24,705 85 – 24,790 Deferred income taxes 1,426 – – 1,426 Right of use assets 10,764 104 – 10,868 Deferred financing costs, net 2,305 – – 2,305 Goodwill 136,365 – – 136,365 Other intangible assets, net 66,199 13,978 – 80,177 Master Settlement Agreement (MSA) escrow deposits 28,427 – – 28,427 Other assets 22,453 500 – 22,953 Investment in unrestricted subsidiaries 62,732 – (62,732 ) – Total assets $ 621,857 $ 27,191 $ (62,732 ) $ 586,316 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 18,596 $ 338 $ – $ 18,934 Accrued liabilities 29,618 1,356 – 30,974 Current portion of long-term debt 59,397 – – 59,397 Total current liabilities 107,611 1,694 – 109,305 Notes payable and long-term debt 306,496 – – 306,496 Lease liabilities 9,327 33 – 9,360 Total liabilities 423,434 1,727 – 425,161 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands, Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 197,232 25,464 (62,732 ) 159,964 Non-controlling interest 1,191 – – 1,191 Total stockholders’ equity 198,423 25,464 (62,732 ) 161,155 Total liabilities and stockholders’ equity $ 621,857 $ 27,191 $ (62,732 ) $ 586,316 Balance Sheet as of December 31, 2023: ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 116,725 $ 1,161 $ – $ 117,886 Accounts receivable, net 9,989 – – 9,989 Inventories, net 91,679 7,281 – 98,960 Other current assets 36,937 3,844 – 40,781 Total current assets 255,330 12,286 – 267,616 Property, plant, and equipment, net 25,142 158 – 25,300 Deferred income taxes 1,468 – – 1,468 Right of use assets 11,359 121 – 11,480 Deferred financing costs, net 2,450 – – 2,450 Goodwill 136,250 – – 136,250 Other intangible assets, net 66,490 14,452 – 80,942 Master Settlement Agreement (MSA) escrow deposits 28,684 – – 28,684 Other assets 15,166 – – 15,166 Investment in unrestricted subsidiaries 48,229 – (48,229 ) – Total assets $ 590,568 $ 27,017 $ (48,229 ) $ 569,356 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 7,781 $ 626 $ – $ 8,407 Accrued liabilities 32,052 1,583 – 33,635 Current portion of long-term debt 58,294 – – 58,294 Total current liabilities 98,127 2,209 – 100,336 Notes payable and long-term debt 307,064 – – 307,064 Lease liabilities 9,898 52 – 9,950 Total liabilities 415,089 2,261 – 417,350 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands, Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 174,449 24,756 (48,229 ) 150,976 Non-controlling interest 1,030 – – 1,030 Total stockholders’ equity 175,479 24,756 (48,229 ) 152,006 Total liabilities and stockholders’ equity $ 590,568 $ 27,017 $ (48,229 ) $ 569,356

Dividends and Share Repurchases

Dividends and Share Repurchases	3 Months Ended
Dividends and Share Repurchases	Mar. 31, 2024
Dividends and Share Repurchases [Abstract]
Dividends and Share Repurchases	Note 18. Dividends and Share Repurchases A dividend of $0.07 per common share was paid on April 12, 2024, to shareholders of record at the close of business on March 22, 2024. The Company currently pays a quarterly cash dividend. Dividends are considered restricted payments under the Senior Secured Notes Indenture. The Company is generally permitted to make restricted payments provided that, at the time of payment, or as a result of payment, the Company is not in default on its debt covenants. Additional earnings and market capitalization restrictions limit the aggregate amount of restricted, quarterly dividends during a fiscal year. On February 25, 2020, the Company’s Board of Directors approved a $50.0 million share repurchase program which is intended for opportunistic execution based upon a variety of factors including market dynamics. The program is subject to the ongoing discretion of the Board of Directors. of Directors , in each case bringing the aggregate approval back to $50.0 million. In the first quarter of 2024, the Company repurchased $2.1 million of common stock, with $25.1 million remaining available for share repurchases under the program at March 31, 202

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Description of Business and Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited, interim, consolidated financial statements have been prepared in accordance with the accounting practices described in the Company’s audited, consolidated financial statements as of and for the year ended December 31, 2023. In the opinion of management, the unaudited, interim, consolidated financial statements included herein contain all adjustments necessary to present fairly the financial position, results of operations, and cash flows of the Company for the periods presented. Such adjustments, other than nonrecurring adjustments separately disclosed, are of a normal and recurring nature. The operating results for interim periods are not necessarily indicative of results to be expected for a full year or future interim periods. The unaudited, interim, consolidated financial statements should be read in conjunction with the Company’s audited, consolidated financial statements and accompanying notes as of and for the year ended December 31, 2023. The accompanying interim, consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States (“GAAP”) with respect to annual financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries, all of which are wholly-owned, and variable interest entities for which the Company is considered the primary beneficiary. All significant intercompany transactions have been eliminated .
Revenue Recognition	Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (Topic 606), which includes excise taxes and shipping and handling charges billed to customers, net of cash discounts for prompt payment, sales returns and incentives, upon delivery of goods to the customer – at which time the Company’s performance obligation is satisfied - at an amount that the Company expects to be entitled to in exchange for those goods in accordance with the five-step analysis outlined in Topic 606: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. The Company excludes from the transaction price, sales taxes and value-added taxes imposed at the time of sale (which do not include excise taxes on smokeless tobacco, cigars or other nicotine products billed to customers). The Company records an allowance for sales returns, based principally on historical volume and return rates, which is included in accrued liabilities on the consolidated balance sheets. The Company records sales incentives, which consist of consumer incentives and trade promotion activities, as a reduction in revenues (a portion of which is based on amounts estimated to be due to wholesalers, retailers and consumers at the end of the period) based principally on historical volume and utilization rates. Expected payments for sales incentives are included in accrued liabilities on the consolidated balance sheets. A further requirement of ASC 606 is for entities to disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The Company’s management views business performance through segments that closely resemble the performance of major product lines. Thus, the primary and most useful disaggregation of the Company’s contract revenue for decision making purposes is the disaggregation by segment which can be found in Note 16, “Segment Information”. An additional disaggregation of contract revenue by sales channel can be found within Note 16 as well.
Shipping Costs	Shipping Costs The Company records shipping costs incurred as a component of selling, general, and administrative expenses. Shipping costs incurred were approximately $5.6 million and $6.2 million for the three months ending March 31 , 2024 and 2023, respectively.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value using the first -in, -out method. Leaf tobacco is presented in current assets in accordance with standard industry practice, notwithstanding the fact that such tobaccos are carried longer than year for the purpose of curing.
Fair Value	Fair Value GAAP establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under GAAP are described below: ● Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets at the measurement date. ● Level 2 – Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.
Derivative Instruments	Derivative Instruments The Compan y enters into foreign currency forwar under the provisions of ASC 815, Derivatives and Hedging. Under the Company’s policy, the Company may hedge up to 100% of its anticipated purchases of inventory in the denominated invoice currency over a forwa
Risks and Uncertainties	Risks and Uncertainties Manufacturers and sellers of tobacco products are subject to regulation at the federal, state, and local levels. Such regulations include, among others, labeling requirements, limitations on advertising, and prohibition of sales to minors. The tobacco industry is likely to continue to be heavily regulated. There can be no assurance as to the ultimate content, timing, or effect of any regulation of tobacco products by any federal, state, or local legislative or regulatory body, nor can there be any assurance that any such legislation or regulation would not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. In a number of states targeted flavor bans have been proposed or enacted legislatively or by the administrative process. Depending on the number and location of such bans, that legislation or regulation could have a material adverse effect on the Company’s financial position, results of operations or cash flows. The U.S. Food and Drug Administration The tobacco industry has experienced, and is experiencing, significant product liability litigation. Most tobacco liability lawsuits have been brought against manufacturers and sellers of cigarettes for injuries allegedly caused by smoking or exposure to smoke. However, several lawsuits have been brought against manufacturers and sellers of smokeless products for injuries to health allegedly caused by use of smokeless products. Typically, such claims assert that use of smokeless products is addictive and causes oral cancer. Additionally, several lawsuits have been brought against manufacturers and distributors of Creative Distribution Solutions products due to malfunctioning devices. Master Settlement Agreement (MSA) Pursuant to the Master Settlement Agreement (the “MSA”) entered into in November 1998 by most states (represented by their attorneys general acting through the National Association of Attorneys General) and subsequent states’ statutes, a “cigarette manufacturer” (which is defined to include a manufacturer of make-your-own (“MYO”) cigarette tobacco) has the option of either becoming a signatory to the MSA or opening, funding, and maintaining an escrow account to have funds available for certain potential tobacco-related liabilities with sub-accounts on behalf of each settling state. Such companies are entitled to direct the investment of the escrowed funds and withdraw any appreciation but cannot withdraw the principal for twenty-five years from the year of each annual deposit, except to withdraw funds deposited pursuant to an individual state’s escrow statute to pay a final judgement to that state’s plaintiffs in the event of such a final judgement against the Company. The Company chose to open and fund an escrow account as its method of compliance. It is the Company’s policy to record amounts on deposit in the escrow account for prior years as a non-current asset. As of March 31, 2024, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $28.4 million. At December 31, 2023, the Company had on deposit approximately $32.1 million, the fair value of which was approximately $28.7 million. The Company discontinued its generic category of MYO in 2019 and its Zig-Zag branded MYO cigarette smoking tobacco in 2017. Thus, pending a change in MSA legislation, the Company has no remaining product lines covered by the MSA and will not be required to make future escrow deposits. The Company has chosen to invest a portion of the MSA escrow, from time to time, in U.S. Government securities including TIPS, Treasury Notes, and Treasury Bonds. These investments are classified as available-for-sale and carried at fair value. Realized losses are prohibited under the MSA; any investment in an unrealized loss position will be held until the value is recovered, or until maturity. Fair values for the U.S. Governmental agency obligations are Level 2 in the fair value hierarchy. The following tables show cost and estimated fair value of the assets held in the MSA account, respectively, as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of March 31, 2024 As of December 31, 2023 Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Cost Gains (Losses) Value Cost Losses Value Cash and cash equivalents $ 1,934 $ – $ 1,934 $ 1,929 $ – $ 1,929 U.S. Governmental agency obligations (unrealized position < 12 months) 1,196 6 1,202 – – – U.S. Governmental agency obligations (unrealized position > 12 months) 28,943 (3,652 ) 25,291 30,144 (3,389 ) 26,755 $ 32,073 $ (3,646 ) $ 28,427 $ 32,073 $ (3,389 ) $ 28,684 As of March 31, 2024 Less than one year $ 3,250 One to five years 13,775 Five to ten years 11,159 Greater than ten years 1,955 Total $ 30,139 The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, 2024 December 31, 2023 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,714 3,714 2005 4,553 4,553 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,619 1,619 2010 406 406 2011 193 193 2012 199 199 2013 173 173 2014 143 143 2015 101 101 2016 91 91 2017 82 82 Total $ 32,073 $ 32,073

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Fair Value of Investments	The following tables show cost and estimated fair value of the assets held in the MSA account, respectively, as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of March 31, 2024 As of December 31, 2023 Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Cost Gains (Losses) Value Cost Losses Value Cash and cash equivalents $ 1,934 $ – $ 1,934 $ 1,929 $ – $ 1,929 U.S. Governmental agency obligations (unrealized position < 12 months) 1,196 6 1,202 – – – U.S. Governmental agency obligations (unrealized position > 12 months) 28,943 (3,652 ) 25,291 30,144 (3,389 ) 26,755 $ 32,073 $ (3,646 ) $ 28,427 $ 32,073 $ (3,389 ) $ 28,684
Maturities of U.S. Governmental Agency Obligations	As of March 31, 2024 Less than one year $ 3,250 One to five years 13,775 Five to ten years 11,159 Greater than ten years 1,955 Total $ 30,139
Deposits by Sales Year for MSA Escrow Account	The following shows the amount of deposits by sales year for the MSA escrow account: Deposits as of Sales Year March 31, 2024 December 31, 2023 1999 $ 211 $ 211 2000 1,017 1,017 2001 1,673 1,673 2002 2,271 2,271 2003 4,249 4,249 2004 3,714 3,714 2005 4,553 4,553 2006 3,847 3,847 2007 4,167 4,167 2008 3,364 3,364 2009 1,619 1,619 2010 406 406 2011 193 193 2012 199 199 2013 173 173 2014 143 143 2015 101 101 2016 91 91 2017 82 82 Total $ 32,073 $ 32,073

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2024
Inventories [Abstract]
Inventories	The components of inventories are as follows: March 31, December 31, 2024 2023 Raw materials and work in process $ 7,148 $ 5,201 Leaf tobacco 41,461 34,894 Finished goods - Zig-Zag Products 39,103 41,783 Finished goods - Stoker’s Products 10,232 8,090 Finished goods - Creative Distribution Solutions 6,086 7,281 Other 1,437 1,711 Inventories $ 105,467 $ 98,960

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
Other Current Assets (Tables)	Mar. 31, 2024
Other Current Assets [Abstract]
Other Current Assets	Other current assets consist of: March 31, December 31, 2024 2023 Inventory deposits $ 7,392 $ 5,707 Insurance deposit – 3,000 Prepaid taxes – 153 Settlement receivable – 4,000 Insurance recovery receivable 15,181 15,181 Other 11,864 12,740 Total $ 34,437 $ 40,781

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
Property, Plant, and Equipment (Tables)	Mar. 31, 2024
Property, Plant, and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, plant, and equipment consists of: March 31, December 31, 2024 2023 Land $ 22 $ 22 Buildings and improvements 4,217 3,956 Leasehold improvements 6,614 5,440 Machinery and equipment 28,568 29,751 Furniture and fixtures 8,439 8,391 Gross property, plant and equipment 47,860 47,560 Accumulated depreciation (23,070 ) (22,260 ) Net property, plant and equipment $ 24,790 $ 25,300

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
Other Assets (Tables)	Mar. 31, 2024
Other Assets [Abstract]
Other Assets	Other assets consist of: March 31, December 31, 2024 2023 Non-marketable equity investments $ 2,882 $ 2,405 Debt security investment 6,750 6,750 Capitalized software 6,108 5,923 Available-for-sale marketable securities 7,125 – Other 88 88 Total $ 22,953 $ 15,166
Other Assets [Abstract]
Fair Value of Investments	The following tables show cost and estimated fair value of the assets held in the MSA account, respectively, as well as the maturities of the U.S. Governmental agency obligations held in such account for the periods indicated. As of March 31, 2024 As of December 31, 2023 Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Cost Gains (Losses) Value Cost Losses Value Cash and cash equivalents $ 1,934 $ – $ 1,934 $ 1,929 $ – $ 1,929 U.S. Governmental agency obligations (unrealized position < 12 months) 1,196 6 1,202 – – – U.S. Governmental agency obligations (unrealized position > 12 months) 28,943 (3,652 ) 25,291 30,144 (3,389 ) 26,755 $ 32,073 $ (3,646 ) $ 28,427 $ 32,073 $ (3,389 ) $ 28,684
Investments Classified by Contractual Maturity	As of March 31, 2024 Less than one year $ 3,250 One to five years 13,775 Five to ten years 11,159 Greater than ten years 1,955 Total $ 30,139
Interchange IC [Member]
Other Assets [Abstract]
Fair Value of Investments	The Company’s captive investments are summarized in the following table. As of March 31, 2024 Gross Estimated Amortized Unrealized Fair Cost Gains (Losses) Value Corporate bonds $ 1,703 $ 8 $ 1,711 U.S. Governmental agency obligations 1,799 (3 ) 1,796 Real estate investment trusts and exchange traded funds 3,617 1 3,618 $ 7,119 $ 6 $ 7,125
Investments Classified by Contractual Maturity	The following table summarizes the fair value of the Company’s captive investments by contractual maturity. As of March 31, 2024 Due within one year $ 1,711 Due after ten years 1,796 Real estate investment trusts and exchange traded funds 3,618 Total investments at fair value $ 7,125

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
Accrued Liabilities (Tables)	Mar. 31, 2024
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued liabilities consist of: March 31, December 31, 2024 2023 Accrued payroll and related items $ 4,669 $ 7,085 Customer returns and allowances 4,642 5,239 Taxes payable 6,995 3,821 Lease liabilities 2,615 2,678 Accrued interest 2,221 6,682 Other 9,832 8,130 Total $ 30,974 $ 33,635

Notes Payable and Long-Term D_2

Notes Payable and Long-Term Debt (Tables)	3 Months Ended
Notes Payable and Long-Term Debt (Tables)	Mar. 31, 2024
Notes Payable and Long-Term Debt [Abstract]
Notes Payable and Long-Term Debt	Notes payable and long-term debt consists of the following in order of preference: March 31, December 31, 2024 2023 Senior Secured Notes $ 250,000 $ 250,000 Convertible Senior Notes 118,541 118,541 Gross notes payable and long-term debt 368,541 368,541 Less deferred finance charges (2,648 ) (3,183 ) Less current maturities (59,397 ) (58,294 ) Notes payable and long-term debt $ 306,496 $ 307,064
Redemption Prices of Senior Secured Notes	The Company may redeem the Senior Secured Notes, in whole or in part, at any time at the redemption prices (expressed as a percentage of the principal amount to be redeemed) set forth below, plus accrued and unpaid interest, if any, on the Senior Secured Notes to be redeemed to (but not including) the applicable redemption date if redeemed during the period indicated below: On or after February 15, 2023 102.813 % On or after February 15, 2024 101.406 % On or after February 15, 2025 and thereafter 100.000 %
Interest Rate Margins	Amounts borrowed under the 2023 ABL Facility are subject to an interest rate per annum equal to Level Historical Excess Availability Applicable Margin for SOFR Loans Applicable Margin for Base Rate Loans I Greater than or equal to 66.66% 1.75% 0.75% II Less than 66.66%, but greater than or equal to 33.33% 2.00% 1.00% III Less than 33.33% 2.25% 1.25%

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Components of Lease Expense	The components of lease expense consisted of the following: Three Months Ended March 31, 2024 2023 Operating lease cost Cost of sales $ 133 $ 128 Selling, general and administrative 464 521 Variable lease cost (1) 297 225 Short-term lease cost – 6 Total $ 894 $ 880 (1) Variable lease cost includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying.
Amounts Related to Operating and Financing Leases	Three Months Ended March 31, 2024 2023 Financing lease cost Selling, general and administrative $ 150 $ 338 Total $ 150 $ 338 March 31, December 31, 2024 2023 Assets: Right of use assets - Operating $ 8,714 $ 8,950 Right of use assets - Financing 2,154 2,530 Total lease assets $ 10,868 $ 11,480 Liabilities: Current lease liabilities - Operating $ 1,946 $ 1,991 Current lease liabilities - Financing (2) 669 687 Long-term lease liabilities - Operating 7,925 8,374 Long-term lease liabilities - Financing 1,435 1,576 Total lease liabilities $ 11,975 $ 12,628 (2) Reported within accrued liabilities on the balance sheet.

Share Incentive Plans (Tables)

Share Incentive Plans (Tables)	3 Months Ended
Share Incentive Plans (Tables)	Mar. 31, 2024
Share Incentive Plans [Abstract]
Stock Option Activity	Stock option activity for the 2006, 2015 and 2021 Plans is summarized below: Weighted Weighted Stock Average Average Option Exercise Grant Date Shares Price Fair Value Outstanding, December 31, 2022 683,214 $ 29.74 $ 9.24 Granted 77,519 20.71 6.45 Exercised (33,851 ) 13.30 4.24 Forfeited (69,931 ) 27.51 9.11 Outstanding, December 31, 2023 656,951 $ 29.79 $ 9.18 Granted 54,289 27.19 9.21 Exercised (198 ) 14.85 4.41 Forfeited (6,433 ) 30.19 8.85 Outstanding, March 31 2024 704,609 $ 29.59 $ 9.19
Assumptions for Options Granted Under 2015 and 2021 Plan	The following table outlines the assumptions based on the number of options granted under the 2015 Plan. February 10, May 17, March 7, March 20, October 24, March 18, February 18, May 3, 2017 2017 2018 2019 2019 2020 2021 2021 Number of options granted 40,000 93,819 98,100 155,780 25,000 155,000 100,000 12,000 Options outstanding at March 31 2024 20,000 38,033 51,067 124,864 25,000 77,777 87,350 12,000 Number exercisable at March 31 2024 20,000 38,033 51,067 124,864 25,000 77,777 87,350 12,000 Exercise price $ 13.00 $ 15.41 $ 21.21 $ 47.58 $ 20.89 $ 14.85 $ 51.75 $ 47.76 Remaining lives 2.87 3.13 3.94 4.97 5.57 5.97 6.89 7.09 Risk free interest rate 1.89 % 1.76 % 2.65 % 2.34 % 1.58 % 0.79 % 0.56 % 0.84 % Expected volatility 27.44 % 26.92 % 28.76 % 30.95 % 31.93 % 35.72 % 28.69 % 29.03 % Expected life 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 Dividend yield – – 0.83 % 0.42 % 0.95 % 1.49 % 0.55 % 0.59 % Fair value at grant date $ 3.98 $ 4.60 $ 6.37 $ 15.63 $ 6.27 $ 4.41 $ 13.77 $ 13.06 The following table outlines the assumptions based on the number of options granted under the 2021 Plan. May 17, March 14, April 29, May 12 March 11, 2021 2022 2022 2023 2024 Number of options granted 7,500 100,000 14,827 77,519 54,289 Options outstanding at March 31 2024 7,500 70,690 14,827 77,519 54,289 Number exercisable at March 31 2024 7,500 47,442 9,935 77,519 – Exercise price $ 45.05 $ 30.46 $ 31.39 $ 20.71 $ 27.19 Remaining lives 7.13 7.96 8.08 9.12 9.95 Risk free interest rate 0.84 % 2.10 % 2.92 % 3.41 % 4.06 % Expected volatility 31.50 % 35.33 % 35.33 % 34.51 % 35.09 % Expected life 6.000 6.000 6.000 5.186 5.186 Dividend yield 0.63 % 1.01 % 0.98 % 1.61 % 1.26 % Fair value at grant date $ 13.23 $ 10.23 $ 11.07 $ 6.45 $ 9.21
PRSU Activity	The following table outlines the PRSUs granted and outstanding as of March 31, 2024 . March 18, February 18, March 14, May 4, March 1, 2020 2021 2022 2023 2024 Number of PRSUs granted 94,000 100,000 49,996 133,578 111,321 PRSUs outstanding at March 31 2024 80,910 82,190 40,325 132,520 111,321 Fair value as of grant date $ 14.85 $ 51.75 $ 30.46 $ 22.25 $ 26.52 Remaining lives 0.75 1.75 2.75 1.75 2.75
RSU Activity	The following table outlines the RSUs granted and outstanding as of March 31, 2024 March 14, March 14, April 29, May 5, May 8, March 1, March 11, 2022 2022 2022 2023 2023 2024 2024 Number of RSUs granted 50,004 28,726 4,522 130,873 20,101 105,257 18,389 RSUs outstanding at March 31, 2024 39,367 9,481 4,522 128,406 20,101 105,257 18,389 Fair value as of grant date $ 30.46 $ 30.46 $ 31.39 $ 22.25 $ 21.77 $ 26.52 $ 27.19 Remaining lives 2.75 0.75 2.75 2.00 0.10 3.00 0.75

Income Per Share (Tables)

Income Per Share (Tables)	3 Months Ended
Income Per Share (Tables)	Mar. 31, 2024
Income Per Share [Abstract]
Basic and Diluted Net Income per Share	The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations of net income: Three Months Ended March 31, 2024 2023 Per Per Income Shares Share Income Shares Share Basic EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 12,010 $ 7,597 Denominator Weighted average 17,654,684 $ 0.68 17,531,414 $ 0.43 Diluted EPS: Numerator Net income attributable to Turning Point Brands, Inc. $ 12,010 $ 7,597 Interest expense related to Convertible Senior Notes, net of tax 731 954 Diluted net income attributable to Turning Point Brands. Inc. $ 12,741 $ 8,551 Denominator Basic weighted average 17,654,684 17,531,414 Convertible Senior Notes 2,218,018 3,029,699 Stock options and restricted stock units 297,612 108,039 20,170,314 $ 0.63 20,669,152 $ 0.41

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2024
Segment Information [Abstract]
Financial Information of Reportable Segments	The tables below present financial information about reported segments: Three Months Ended March 31, 2024 2023 Net sales Zig-Zag products $ 46,697 $ 41,887 Stoker’s products 36,367 33,662 Total Zig-Zag and Stoker’s products $ 83,064 $ 75,549 Creative Distribution Solutions 13,994 25,407 Total $ 97,058 $ 100,956 Gross profit Zig-Zag products $ 27,538 $ 22,390 Stoker’s products 20,815 19,465 Total Zig-Zag and Stoker’s products $ 48,353 $ 41,855 Creative Distribution Solutions 3,559 6,762 Total $ 51,912 $ 48,617 Operating income (loss) Zig-Zag products $ 18,000 $ 13,641 Stoker’s products 15,396 14,563 Corporate unallocated (1)(2) (14,127 ) (10,623 ) Total Zig-Zag and Stoker’s products $ 19,269 $ 17,581 Creative Distribution Solutions (3 ) 261 Total $ 19,266 $ 17,842 Interest expense, net 3,479 4,010 Investment (income) loss (119 ) 4,799 Gain on extinguishment of debt – (777 ) Income before income taxes $ 15,906 $ 9,810 Capital expenditures Zig-Zag products $ 166 $ 973 Stoker’s products 200 1,462 Total Zig-Zag and Stoker’s products $ 366 $ 2,435 Creative Distribution Solutions – – Total $ 366 $ 2,435 Depreciation and amortization Zig-Zag products $ 274 $ 267 Stoker’s products 879 706 Total Zig-Zag and Stoker’s products $ 1,153 $ 973 Creative Distribution Solutions 570 574 Total $ 1,723 $ 1,547 (1) Includes corporate costs that are not allocated to any of the three reportable segments. (2) Includes costs related to PMTA of $0.8 million in 2024 and $0.1 million in 2023. March 31, December 31, 2024 2023 Assets Zig-Zag products $ 176,629 $ 177,135 Stoker’s products 187,794 174,994 Corporate unallocated (1) 194,702 190,223 Total Zig-Zag and Stoker’s products $ 559,125 $ 542,352 Creative Distribution Solutions 27,191 27,004 Total $ 586,316 $ 569,356 (1) Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments.
Revenue Disaggregation - Sales Channel	Revenues of the Zig-Zag Products and Stoker’s Products segments are primarily comprised of sales made to wholesalers while Creative Distribution Solutions sales are made business to business and business to consumer, both online and through our corporate retail stores. Creative Distribution Solutions net sales are broken out by sales channel below. Creative Distribution Solutions Segment Three Months Ended March 31, 2024 2023 Business to Business $ 12,585 $ 22,493 Business to Consumer - Online 1,380 2,810 Other 29 104 Total $ 13,994 $ 25,407
Net Sales - Domestic and Foreign	The following table shows a breakdown of consolidated net sales between domestic and foreign customers. Three Months Ended March 31, 2024 2023 Domestic $ 89,910 $ 93,860 Foreign 7,148 7,096 Total $ 97,058 $ 100,956

Additional Information with R_2

Additional Information with Respect to Unrestricted Subsidiary (Tables)	3 Months Ended
	Mar. 31, 2024
Additional Information with Respect to Unrestricted Subsidiary [Abstract]
Income Statement	Income Statement for the Three Months Ended March 31, 2024 and 2023 (unaudited): Three Months Ended March 31 2024 2023 Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Company and Restricted Subsidiaries Unrestricted Subsidiaries Consolidated Net sales $ 83,064 $ 13,994 $ 97,058 $ 75,549 $ 25,407 $ 100,956 Cost of sales 34,711 10,435 45,146 33,694 18,645 52,339 Gross profit 48,353 3,559 51,912 41,855 6,762 48,617 Selling, general, and administrative expenses 29,084 3,562 32,646 24,274 6,501 30,775 Operating income (loss) 19,269 (3 ) 19,266 17,581 261 17,842 Interest expense, net 3,479 – 3,479 4,010 – 4,010 Investment (gain) loss (119 ) – (119 ) 4,799 – 4,799 Gain on extinguishment of debt – – – (777 ) – (777 ) Income (loss) before income taxes 15,909 (3 ) 15,906 9,549 261 9,810 Income tax expense (benefit) 3,728 (1 ) 3,727 2,402 66 2,468 Consolidated net income (loss) 12,181 (2 ) 12,179 7,147 195 7,342 Net income (loss) attributable to non-controlling interest 169 – 169 (255 ) – (255 ) Net income (loss) attributable to Turning Point Brands, Inc. $ 12,012 $ (2 ) $ 12,010 $ 7,402 $ 195 $ 7,597
Balance Sheets	Balance Sheet as of March 31, 2024 (unaudited): ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 126,066 $ 4,837 $ – $ 130,903 Accounts receivable, net 8,198 – – 8,198 Inventories, net 99,381 6,086 – 105,467 Other current assets 32,836 1,601 – 34,437 Total current assets 266,481 12,524 – 279,005 Property, plant, and equipment, net 24,705 85 – 24,790 Deferred income taxes 1,426 – – 1,426 Right of use assets 10,764 104 – 10,868 Deferred financing costs, net 2,305 – – 2,305 Goodwill 136,365 – – 136,365 Other intangible assets, net 66,199 13,978 – 80,177 Master Settlement Agreement (MSA) escrow deposits 28,427 – – 28,427 Other assets 22,453 500 – 22,953 Investment in unrestricted subsidiaries 62,732 – (62,732 ) – Total assets $ 621,857 $ 27,191 $ (62,732 ) $ 586,316 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 18,596 $ 338 $ – $ 18,934 Accrued liabilities 29,618 1,356 – 30,974 Current portion of long-term debt 59,397 – – 59,397 Total current liabilities 107,611 1,694 – 109,305 Notes payable and long-term debt 306,496 – – 306,496 Lease liabilities 9,327 33 – 9,360 Total liabilities 423,434 1,727 – 425,161 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands, Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 197,232 25,464 (62,732 ) 159,964 Non-controlling interest 1,191 – – 1,191 Total stockholders’ equity 198,423 25,464 (62,732 ) 161,155 Total liabilities and stockholders’ equity $ 621,857 $ 27,191 $ (62,732 ) $ 586,316 Balance Sheet as of December 31, 2023: ASSETS Company and Restricted Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Current assets: Cash $ 116,725 $ 1,161 $ – $ 117,886 Accounts receivable, net 9,989 – – 9,989 Inventories, net 91,679 7,281 – 98,960 Other current assets 36,937 3,844 – 40,781 Total current assets 255,330 12,286 – 267,616 Property, plant, and equipment, net 25,142 158 – 25,300 Deferred income taxes 1,468 – – 1,468 Right of use assets 11,359 121 – 11,480 Deferred financing costs, net 2,450 – – 2,450 Goodwill 136,250 – – 136,250 Other intangible assets, net 66,490 14,452 – 80,942 Master Settlement Agreement (MSA) escrow deposits 28,684 – – 28,684 Other assets 15,166 – – 15,166 Investment in unrestricted subsidiaries 48,229 – (48,229 ) – Total assets $ 590,568 $ 27,017 $ (48,229 ) $ 569,356 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 7,781 $ 626 $ – $ 8,407 Accrued liabilities 32,052 1,583 – 33,635 Current portion of long-term debt 58,294 – – 58,294 Total current liabilities 98,127 2,209 – 100,336 Notes payable and long-term debt 307,064 – – 307,064 Lease liabilities 9,898 52 – 9,950 Total liabilities 415,089 2,261 – 417,350 Commitments and contingencies Stockholders’ equity: Total Turning Point Brands, Inc. Stockholders’ Equity/Net parent investment in unrestricted subsidiaries 174,449 24,756 (48,229 ) 150,976 Non-controlling interest 1,030 – – 1,030 Total stockholders’ equity 175,479 24,756 (48,229 ) 152,006 Total liabilities and stockholders’ equity $ 590,568 $ 27,017 $ (48,229 ) $ 569,356

Description of Business and B_3

Description of Business and Basis of Presentation (Details) Outlet in Thousands	3 Months Ended
	Mar. 31, 2024 Outlet Segment
Description of Business and Basis of Presentation [Abstract]
Number of reportable segments \| Segment	3
Number of retail outlets in North America \| Outlet	217

Summary of Significant Accoun_4

Summary of Significant Accounting Policies, Shipping Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Shipping Costs [Abstract]
Shipping costs	$ 5.6	$ 6.2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies, Derivative Instruments (Details) - Maximum [Member]	3 Months Ended
	Mar. 31, 2024
Derivative Instruments [Abstract]
Percentage of anticipated purchases of inventory that may be hedged	100%
Term of hedge	12 months
Percentage of non-inventory purchases that may be hedged	100%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies, Master Settlement Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Master Settlement Agreement [Abstract]
Term for restricted withdrawal of principal from MSA escrow account	25 years
Fair Value of MSA Escrow Account, More than 12 Months [Abstract]
Estimated fair value, more than 12 months	$ 6,750	$ 6,750
Fair Value of MSA Escrow Account [Abstract]
Cost	32,073	32,073
Gross unrealized gains (losses)	(3,646)	(3,389)
Estimated fair value	28,427	28,684
Maturities of U.S. Governmental Agency Obligations [Abstract]
Less than one year	3,250
One to five years	13,775
Five to ten years	11,159
Greater than ten years	1,955
Total	30,139
Master Settlement Agreement Escrow Account by Sales Year [Abstract]
1999	211	211
2000	1,017	1,017
2001	1,673	1,673
2002	2,271	2,271
2003	4,249	4,249
2004	3,714	3,714
2005	4,553	4,553
2006	3,847	3,847
2007	4,167	4,167
2008	3,364	3,364
2009	1,619	1,619
2010	406	406
2011	193	193
2012	199	199
2013	173	173
2014	143	143
2015	101	101
2016	91	91
2017	82	82
Total	32,073	32,073
Cash and Cash Equivalents [Member]
Fair Value of MSA Escrow Account [Abstract]
Cost	1,934	1,929
Gross unrealized gains (losses)	0	0
Estimated fair value	1,934	1,929
U.S. Governmental Agency Obligations [Member]
Fair Value of MSA Escrow Account, Less than 12 Months [Abstract]
Cost, less than 12 months	1,196	0
Gross unrealized gains (losses), less than 12 months	6	0
Estimated fair value, less than 12 months	1,202	0
Fair Value of MSA Escrow Account, More than 12 Months [Abstract]
Cost, more than 12 months	28,943	30,144
Gross unrealized gains (losses), more than 12 months	(3,652)	(3,389)
Estimated fair value, more than 12 months	$ 25,291	$ 26,755

Derivative Instruments (Details

Derivative Instruments (Details) - Foreign Currency [Member] € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Derivative Instruments [Abstract]
Notional amount of contracts executed	$ 0
Other Current Assets [Member]
Derivative Instruments [Abstract]
Fair value, asset	0		$ 0.3
Accrued Liabilities [Member]
Derivative Instruments [Abstract]
Fair value, liability	$ 0.1		$ 0.1
Purchase [Member]
Derivative Instruments [Abstract]
Notional amount \| €		€ 9.2		€ 15.2
Sale [Member]
Derivative Instruments [Abstract]
Notional amount \| €		€ 9.2		€ 15.2

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value of Financial Instruments [Abstract]
Carrying value of long-term debt	$ 368,541	$ 368,541
Senior Secured Notes [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	5.625%
Carrying value of long-term debt	$ 250,000	250,000
Convertible Senior Notes [Member]
Fair Value of Financial Instruments [Abstract]
Interest rate	2.50%
Carrying value of long-term debt	$ 118,541	118,541
Fair Value [Member] \| Senior Secured Notes [Member]
Fair Value of Financial Instruments [Abstract]
Fair value of long-term debt	237,300	234,900
Fair Value [Member] \| Convertible Senior Notes [Member]
Fair Value of Financial Instruments [Abstract]
Fair value of long-term debt	$ 117,500	$ 114,700

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	12 Months Ended
Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2024
Inventories [Abstract]
Raw materials and work in process	$ 5,201	$ 7,148
Leaf tobacco	34,894	41,461
Other	1,711	1,437
Inventories	98,960	105,467
Inventory valuation allowance	20,600	20,600
Zig-Zag Products [Member]
Inventories [Abstract]
Finished goods	41,783	39,103
Stoker's Products [Member]
Inventories [Abstract]
Finished goods	8,090	10,232
Creative Distribution Solutions [Member]
Inventories [Abstract]
Finished goods	7,281	$ 6,086
Leaf Tobacco Inventory [Member] \| Other Operating Income [Member]
Inventories [Abstract]
Inventory reserve	$ 15,200

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Current Assets [Abstract]
Inventory deposits	$ 7,392	$ 5,707
Insurance deposit	0	3,000
Prepaid taxes	0	153
Settlement receivable	0	4,000
Insurance recovery receivable	15,181	15,181
Other	11,864	12,740
Total	$ 34,437	$ 40,781

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 47,860	$ 47,560
Accumulated depreciation	(23,070)	(22,260)
Net property, plant and equipment	24,790	25,300
Land [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	22	22
Buildings and Improvements [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	4,217	3,956
Leasehold Improvements [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	6,614	5,440
Machinery and Equipment [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	28,568	29,751
Furniture and Fixtures [Member]
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 8,439	$ 8,391

Other Assets, Summary (Details)

Other Assets, Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Assets [Abstract]
Non-marketable equity investments	$ 2,882	$ 2,405
Debt security investment	6,750	6,750
Capitalized software	6,108	5,923
Available-for-sale marketable securities	7,125	0
Other	88	88
Total	$ 22,953	$ 15,166

Other Assets, Debt and Non-Mark

Other Assets, Debt and Non-Marketable Equity Investments (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended
	Jul. 31, 2022	Jan. 31, 2024	Jul. 31, 2021	Apr. 30, 2021	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023
Other Assets [Abstract]
Equity investments					$ 2,882	$ 2,405
Payment for investment					500			$ 0
Debt security investment					$ 6,750	6,750
Old Pal Holding Company LLC [Member]
Other Assets [Abstract]
Payment for investment	$ 1,000		$ 8,000
Accrued interest receivable	200
Debt security investment	$ 9,200
Interest rate					3%
Extension period for maturity date					1 year
Weighted average interest rate					3%			3%
Allowance for credit losses						1,000	$ 300
Old Pal Holding Company LLC [Member] \| Other Current Assets [Member]
Other Assets [Abstract]
Accrued interest receivable					$ 200	100
Old Pal Holding Company LLC [Member] \| Level 3 [Member]
Other Assets [Abstract]
Debt security investment						$ 6,900	$ 7,700
TeaZa [Member]
Other Assets [Abstract]
Equity investments		$ 800
Ownership interest		18.744%
Payment for investment		$ 500
Payable to be offset against allocated portion of future profit distributions		$ 300
TeaZa [Member] \| Minimum [Member]
Other Assets [Abstract]
Ownership interest that can be purchased					51.744%
TeaZa [Member] \| Maximum [Member]
Other Assets [Abstract]
Ownership interest that can be purchased					100%
Docklight Brands, Inc. [Member]
Other Assets [Abstract]
Payment for investment				$ 8,700
Gain (loss) on investment								$ (4,900)

Other Assets, Captive Investmen

Other Assets, Captive Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Captive Investments [Abstract]
Amortized cost	$ 32,073	$ 32,073
Gross unrealized gains (losses)	(3,646)	(3,389)
Estimated fair value	28,427	$ 28,684
Interchange IC [Member]
Captive Investments [Abstract]
Amortized cost	7,119
Gross unrealized gains (losses)	6
Estimated fair value	7,125
Interchange IC [Member] \| Corporate Bonds [Member]
Captive Investments [Abstract]
Amortized cost	1,703
Gross unrealized gains (losses)	8
Estimated fair value	1,711
Interchange IC [Member] \| U.S. Governmental Agency Obligations [Member]
Captive Investments [Abstract]
Amortized cost	1,799
Gross unrealized gains (losses)	(3)
Estimated fair value	1,796
Interchange IC [Member] \| Real Estate Investment Trusts and Exchange Traded Funds [Member]
Captive Investments [Abstract]
Amortized cost	3,617
Gross unrealized gains (losses)	1
Estimated fair value	$ 3,618

Other Assets, Captive Investm_2

Other Assets, Captive Investments by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Captive Investments [Abstract]
Total	$ 28,427	$ 28,684
Interchange IC [Member]
Captive Investments [Abstract]
Due within one year	1,711
Due after ten years	1,796
Real estate investment trusts and exchange traded funds	3,618
Total	$ 7,125

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accrued Liabilities [Abstract]
Accrued payroll and related items	$ 4,669	$ 7,085
Customer returns and allowances	4,642	5,239
Taxes payable	6,995	3,821
Lease liabilities	2,615	2,678
Accrued interest	2,221	6,682
Other	9,832	8,130
Total	$ 30,974	$ 33,635

Notes Payable and Long-Term D_3

Notes Payable and Long-Term Debt, Summary of Notes Payable and Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	$ 368,541	$ 368,541
Less deferred finance charges	(2,648)	(3,183)
Less current maturities	(59,397)	(58,294)
Net notes payable and long-term debt	306,496	307,064
Senior Secured Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	250,000	250,000
Convertible Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Gross notes payable and long-term debt	118,541	$ 118,541
Net notes payable and long-term debt	$ 59,000

Notes Payable and Long-Term D_4

Notes Payable and Long-Term Debt, Senior Secured Notes (Details) - Senior Secured Notes [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Feb. 11, 2021
Notes Payable and Long-Term Debt [Abstract]
Face amount		$ 250
Interest rate	5.625%
Maturity date	Feb. 15, 2026
Guarantee threshold amount for obligations	$ 15
Redemption price (expressed as a percentage of the principal amount to be redeemed) if the Company experiences a change in control	101%
Debt issuance costs		$ 6.4
On or after February 15, 2023 [Member]
Notes Payable and Long-Term Debt [Abstract]
Redemption price (expressed as a percentage of the principal amount to be redeemed)	102.813%
On or after February 15, 2024 [Member]
Notes Payable and Long-Term Debt [Abstract]
Redemption price (expressed as a percentage of the principal amount to be redeemed)	101.406%
On or after February 15, 2025 and thereafter [Member]
Notes Payable and Long-Term Debt [Abstract]
Redemption price (expressed as a percentage of the principal amount to be redeemed)	100%

Notes Payable and Long-Term D_5

Notes Payable and Long-Term Debt, 2021 Revolving Credit Facility (Details) - Amended Revolving Credit Facility [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Feb. 11, 2021
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity			$ 25
Letters of credit outstanding		$ 1.4
Debt issuance costs	$ 0.5
Gain on debt extinguishment	$ 0.2

Notes Payable and Long-Term D_6

Notes Payable and Long-Term Debt, 2023 ABL Facility (Details) $ in Millions		3 Months Ended
	Nov. 07, 2023 USD ($) qtr	Mar. 31, 2024 USD ($)
2023 ABL Facility [Member]
Notes Payable and Long-Term Debt [Abstract]
Maximum borrowing capacity	$ 75
Accordion feature	$ 40
Percentage used in calculation of borrowing base	85%
Percentage used in calculation of LILO borrowing base	10%
Fixed charge coverage ratio	1
Number of consecutive quarters to maintain minimum fixed charge coverage ratio \| qtr	4
Percentage of line cap	12.50%
Threshold excess availability	$ 9.4
Period to maintain excess availability	30 days
Period prior to maturity date of any material debt outstanding	91 days
Excess availability threshold	$ 15
Amount drawn under credit facility		$ 0
Letters of credit outstanding		1.2
Available balance		59
Debt issuance costs		$ 2.6
2023 ABL Facility [Member] \| Minimum [Member]
Notes Payable and Long-Term Debt [Abstract]
Historical excess availability threshold	33.33%
2023 ABL Facility [Member] \| Maximum [Member]
Notes Payable and Long-Term Debt [Abstract]
Historical excess availability threshold	66.66%
SOFR Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	2.25%
Applicable margin on variable rate, Level I	1.75%
Applicable margin on variable rate, Level II	2%
Applicable margin on variable rate, Level III	2.25%
Base Rate Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	1.25%
Applicable margin on variable rate, Level I	0.75%
Applicable margin on variable rate, Level II	1%
Applicable margin on variable rate, Level III	1.25%
LILO Loans that are Base Rate Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	2.25%
LILO Loans that are SOFR Loans [Member]
Notes Payable and Long-Term Debt [Abstract]
Interest rate margin	3.25%

Notes Payable and Long-Term D_7

Notes Payable and Long-Term Debt, Convertible Senior Notes (Details)	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 31, 2019 USD ($)	Mar. 31, 2024 USD ($) shares $ / shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Nov. 07, 2023 USD ($)
Notes Payable and Long-Term Debt [Abstract]
Gain on extinguishment of debt		$ 0	$ 777,000
Outstanding principal amount		368,541,000		$ 368,541,000
Notes payable and long-term debt		$ 306,496,000		307,064,000
Strike price (in dollars per share) \| $ / shares		53.4
Cap price (in dollars per share) \| $ / shares		82.86
Payment for cost of capped call transactions	$ 20,530,000
Convertible Senior Notes [Member]
Notes Payable and Long-Term Debt [Abstract]
Face amount	172,500,000
Interest rate		2.50%
Maturity date		Jul. 15, 2024
Principal amount of convertible debt repurchased				44,000,000
Gain on extinguishment of debt				1,900,000
Outstanding principal amount		$ 118,541,000		$ 118,541,000
Shares issued upon conversion (in shares) \| shares		2,219,704
Conversion rate		18.7252
Principal amount of notes to be converted		$ 1,000
Conversion price (in dollars per share) \| $ / shares		$ 53.4
Pre-determined threshold value for adjusting conversion price as a result of dividends paid (in dollars per share) \| $ / shares		$ 0.04
Notes to be refinanced					$ 75,000,000
Notes payable and long-term debt		$ 59,000,000
Debt issuance costs	$ 5,900,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands		3 Months Ended
Leases (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Operating Lease Cost [Abstract]
Variable lease cost	[1]	$ 297	$ 225
Short-term lease cost		0	6
Total operating lease cost		894	880
Financing Lease Cost [Abstract]
Financing lease cost		150	338
Assets [Abstract]
Right of use assets - Operating		$ 8,714		$ 8,950
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Total lease assets		Total lease assets
Right of use assets - Financing		$ 2,154		$ 2,530
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Total lease assets		Total lease assets
Total lease assets		$ 10,868		$ 11,480
Liabilities [Abstract]
Current lease liabilities - Operating	[2]	$ 1,946		$ 1,991
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accrued Liabilities, Current		Accrued Liabilities, Current
Current lease liabilities - Financing	[2]	$ 669		$ 687
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current		Accrued Liabilities, Current
Long-term lease liabilities - Operating		$ 7,925		$ 8,374
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Operating and Finance Lease, Liability, Noncurrent		Operating and Finance Lease, Liability, Noncurrent
Long-term lease liabilities - Financing		$ 1,435		$ 1,576
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Operating and Finance Lease, Liability, Noncurrent		Operating and Finance Lease, Liability, Noncurrent
Total lease liabilities		$ 11,975		$ 12,628
Cost of Sales [Member]
Operating Lease Cost [Abstract]
Operating lease cost		133	128
Selling, General and Administrative [Member]
Operating Lease Cost [Abstract]
Operating lease cost		464	521
Financing Lease Cost [Abstract]
Financing lease cost		$ 150	$ 338

[1]Variable lease cost includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying.[2]Reported within accrued liabilities on the balance sheet.

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2024	Mar. 31, 2023
Income Taxes [Abstract]
Effective income tax rate	23.40%	25.20%

Share Incentive Plans, Equity I

Share Incentive Plans, Equity Incentive Plans (Details) - shares	Mar. 31, 2024	Mar. 22, 2021
RSUs [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	325,523
2021 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)		1,290,000
Number of shares available for future grant (in shares)	725,496
2021 Plan [Member] \| RSUs [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	400,682
2021 Plan [Member] \| Stock Options [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	161,658
2021 Plan [Member] \| Performance-Based Restricted Stock Units [Member]
Share Incentive Plans [Abstract]
Number of awards granted, net of forfeitures (in shares)	102,216
2015 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)		100,052
Number of shares available for future grant (in shares)	0
2006 Plan [Member]
Share Incentive Plans [Abstract]
Number of shares available for future grant (in shares)	0

Share Incentive Plans, Stock Op

Share Incentive Plans, Stock Option Activity (Details) - 2006, 2015 and 2021 Plans [Member] - Stock Options [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Stock Option Shares [Roll Forward]
Outstanding, beginning balance (in shares)	656,951	683,214	683,214
Granted (in shares)	54,289		77,519
Exercised (in shares)	(198)		(33,851)
Forfeited (in shares)	(6,433)		(69,931)
Outstanding, ending balance (in shares)	704,609		656,951
Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 29.79	$ 29.74	$ 29.74
Granted (in dollars per share)	27.19		20.71
Exercised (in dollars per share)	14.85		13.3
Forfeited (in dollars per share)	30.19		27.51
Outstanding, ending balance (in dollars per share)	29.59		29.79
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)	9.18	$ 9.24	9.24
Granted (in dollars per share)	9.21		6.45
Exercised (in dollars per share)	4.41		4.24
Forfeited (in dollars per share)	8.85		9.11
Outstanding, ending balance (in dollars per share)	$ 9.19		$ 9.18
Intrinsic value of options exercised	$ 0	$ 0.2

Share Incentive Plans, Assumpti

Share Incentive Plans, Assumptions for Options Granted Under 2006 Plan (Details) - 2006 Plan [Member] - Stock Options [Member] - Exercise Price $3.83 [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share Incentive Plans [Abstract]
Number of options (in shares) \| shares	43,693
Exercise price (in dollars per share)	$ 3.83
Number of options exercisable (in shares) \| shares	43,693
Remaining lives	4 months 6 days
Expected life	10 years
Exercise price (in dollars per share)	$ 3.83
Risk free interest rate	3.57%
Expected volatility	40%
Dividend yield	0%
Fair value at grant date (in dollars per share)	$ 2.17

Share Incentive Plans, Assump_2

Share Incentive Plans, Assumptions for Options Granted Under 2015 Plan (Details) - 2015 Plan [Member] - Stock Options [Member] - $ / shares									3 Months Ended
	May 03, 2021	Feb. 18, 2021	Mar. 18, 2020	Oct. 24, 2019	Mar. 20, 2019	Mar. 07, 2018	May 17, 2017	Feb. 10, 2017	Mar. 31, 2024
February 10, 2017 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)								40,000
Options outstanding (in shares)									20,000
Number exercisable (in shares)									20,000
Exercise price (in dollars per share)									$ 13
Remaining lives									2 years 10 months 13 days
Risk free interest rate									1.89%
Expected volatility									27.44%
Expected life									6 years
Dividend yield									0%
Fair value at grant date (in dollars per share)									$ 3.98
May 17, 2017 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)							93,819
Options outstanding (in shares)									38,033
Number exercisable (in shares)									38,033
Exercise price (in dollars per share)									$ 15.41
Remaining lives									3 years 1 month 17 days
Risk free interest rate									1.76%
Expected volatility									26.92%
Expected life									6 years
Dividend yield									0%
Fair value at grant date (in dollars per share)									$ 4.6
March 7, 2018 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)						98,100
Options outstanding (in shares)									51,067
Number exercisable (in shares)									51,067
Exercise price (in dollars per share)									$ 21.21
Remaining lives									3 years 11 months 8 days
Risk free interest rate									2.65%
Expected volatility									28.76%
Expected life									6 years
Dividend yield									0.83%
Fair value at grant date (in dollars per share)									$ 6.37
March 20, 2019 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)					155,780
Options outstanding (in shares)									124,864
Number exercisable (in shares)									124,864
Exercise price (in dollars per share)									$ 47.58
Remaining lives									4 years 11 months 19 days
Risk free interest rate									2.34%
Expected volatility									30.95%
Expected life									6 years
Dividend yield									0.42%
Fair value at grant date (in dollars per share)									$ 15.63
October 24, 2019 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)				25,000
Options outstanding (in shares)									25,000
Number exercisable (in shares)									25,000
Exercise price (in dollars per share)									$ 20.89
Remaining lives									5 years 6 months 25 days
Risk free interest rate									1.58%
Expected volatility									31.93%
Expected life									6 years
Dividend yield									0.95%
Fair value at grant date (in dollars per share)									$ 6.27
March 18, 2020 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)			155,000
Options outstanding (in shares)									77,777
Number exercisable (in shares)									77,777
Exercise price (in dollars per share)									$ 14.85
Remaining lives									5 years 11 months 19 days
Risk free interest rate									0.79%
Expected volatility									35.72%
Expected life									6 years
Dividend yield									1.49%
Fair value at grant date (in dollars per share)									$ 4.41
February 18, 2021 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)		100,000
Options outstanding (in shares)									87,350
Number exercisable (in shares)									87,350
Exercise price (in dollars per share)									$ 51.75
Remaining lives									6 years 10 months 20 days
Risk free interest rate									0.56%
Expected volatility									28.69%
Expected life									6 years
Dividend yield									0.55%
Fair value at grant date (in dollars per share)									$ 13.77
May 3, 2021 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)	12,000
Options outstanding (in shares)									12,000
Number exercisable (in shares)									12,000
Exercise price (in dollars per share)									$ 47.76
Remaining lives									7 years 1 month 2 days
Risk free interest rate									0.84%
Expected volatility									29.03%
Expected life									6 years
Dividend yield									0.59%
Fair value at grant date (in dollars per share)									$ 13.06

Share Incentive Plans, Assump_3

Share Incentive Plans, Assumptions for Options Granted Under 2021 Plan (Details) - 2021 Plan [Member] - Stock Options [Member] - $ / shares						3 Months Ended
	Mar. 11, 2024	May 12, 2023	Apr. 29, 2022	Mar. 14, 2022	May 17, 2021	Mar. 31, 2024
May 17, 2021 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)					7,500
Options outstanding (in shares)						7,500
Number exercisable (in shares)						7,500
Exercise price (in dollars per share)						$ 45.05
Remaining lives						7 years 1 month 17 days
Risk free interest rate						0.84%
Expected volatility						31.50%
Expected life						6 years
Dividend yield						0.63%
Fair value at grant date (in dollars per share)						$ 13.23
March 14, 2022 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)				100,000
Options outstanding (in shares)						70,690
Number exercisable (in shares)						47,442
Exercise price (in dollars per share)						$ 30.46
Remaining lives						7 years 11 months 15 days
Risk free interest rate						2.10%
Expected volatility						35.33%
Expected life						6 years
Dividend yield						1.01%
Fair value at grant date (in dollars per share)						$ 10.23
April 29, 2022 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)			14,827
Options outstanding (in shares)						14,827
Number exercisable (in shares)						9,935
Exercise price (in dollars per share)						$ 31.39
Remaining lives						8 years 29 days
Risk free interest rate						2.92%
Expected volatility						35.33%
Expected life						6 years
Dividend yield						0.98%
Fair value at grant date (in dollars per share)						$ 11.07
May 12, 2023 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)		77,519
Options outstanding (in shares)						77,519
Number exercisable (in shares)						77,519
Exercise price (in dollars per share)						$ 20.71
Remaining lives						9 years 1 month 13 days
Risk free interest rate						3.41%
Expected volatility						34.51%
Expected life						5 years 2 months 7 days
Dividend yield						1.61%
Fair value at grant date (in dollars per share)						$ 6.45
March 11, 2024 [Member]
Share Incentive Plans [Abstract]
Number of options granted (in shares)	54,289
Options outstanding (in shares)						54,289
Number exercisable (in shares)						0
Exercise price (in dollars per share)						$ 27.19
Remaining lives						9 years 11 months 12 days
Risk free interest rate						4.06%
Expected volatility						35.09%
Expected life						5 years 2 months 7 days
Dividend yield						1.26%
Fair value at grant date (in dollars per share)						$ 9.21

Share Incentive Plans, Compensa

Share Incentive Plans, Compensation Expense Related to Options (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Compensation Expense [Abstract]
Compensation expense related to options	$ 0.3	$ 0
Unrecognized compensation expense related to options	$ 0.3
Period over which unrecognized compensation expense will be expensed	9 months

Share Incentive Plans, Performa

Share Incentive Plans, Performance-Based Restricted Stock Units (Details) - Performance-Based Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions						3 Months Ended
	Mar. 01, 2024	May 04, 2023	Mar. 14, 2022	Feb. 18, 2021	Mar. 18, 2020	Mar. 31, 2024	Mar. 31, 2023
Share Incentive Plans [Abstract]
Period between performance period and measurement date						65 days
PRSUs outstanding (in shares)						447,266
Compensation expense						$ 0.9	$ 0.5
Unrecognized compensation expense						$ 6.1
Employees [Member]
Share Incentive Plans [Abstract]
Performance period						5 years
March 18, 2020 [Member] \| Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)					94,000
PRSUs outstanding (in shares)						80,910
Fair value as of grant date (in dollars per share)					$ 14.85
Remaining lives						9 months
February 18, 2021 [Member] \| Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)				100,000
PRSUs outstanding (in shares)						82,190
Fair value as of grant date (in dollars per share)				$ 51.75
Remaining lives						1 year 9 months
March 14, 2022 [Member] \| Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)			49,996
PRSUs outstanding (in shares)						40,325
Fair value as of grant date (in dollars per share)			$ 30.46
Remaining lives						2 years 9 months
May 4, 2023 [Member] \| Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)		133,578
PRSUs outstanding (in shares)						132,520
Fair value as of grant date (in dollars per share)		$ 22.25
Remaining lives						1 year 9 months
March 1, 2024 [Member] \| Employees [Member]
Share Incentive Plans [Abstract]
Number of PRSUs granted (in shares)	111,321
PRSUs outstanding (in shares)						111,321
Fair value as of grant date (in dollars per share)	$ 26.52
Remaining lives						2 years 9 months

Share Incentive Plans, Restrict

Share Incentive Plans, Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Millions							3 Months Ended
	Mar. 11, 2024	Mar. 01, 2024	May 08, 2023	May 05, 2023	Apr. 29, 2022	Mar. 14, 2022	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Period over which unrecognized compensation expense will be expensed							9 months
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of awards granted (in shares)							325,523
Compensation expense							$ 0.9	$ 0.3
Unrecognized compensation expense							$ 5.1
Period over which unrecognized compensation expense will be expensed							2 years 6 months 7 days
RSUs [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Vesting period							1 year
RSUs [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Vesting period							5 years
RSUs [Member] \| March 14, 2022 [Member] \| Vest in Five Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)						50,004
RSUs outstanding (in shares)							39,367
Fair value as of grant date (in dollars per share)						$ 30.46
Remaining lives							2 years 9 months
RSUs [Member] \| March 14, 2022 [Member] \| Vest in Three Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)						28,726
RSUs outstanding (in shares)							9,481
Fair value as of grant date (in dollars per share)						$ 30.46
Remaining lives							9 months
RSUs [Member] \| April 29, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)					4,522
RSUs outstanding (in shares)							4,522
Fair value as of grant date (in dollars per share)					$ 31.39
Remaining lives							2 years 9 months
RSUs [Member] \| May 5, 2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)				130,873
RSUs outstanding (in shares)							128,406
Fair value as of grant date (in dollars per share)				$ 22.25
Remaining lives							2 years
RSUs [Member] \| May 8, 2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)			20,101
RSUs outstanding (in shares)							20,101
Fair value as of grant date (in dollars per share)			$ 21.77
Remaining lives							1 month 6 days
RSUs [Member] \| March 1, 2024 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)		105,257
RSUs outstanding (in shares)							105,257
Fair value as of grant date (in dollars per share)		$ 26.52
Remaining lives							3 years
RSUs [Member] \| March 11, 2024 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of RSUs granted (in shares)	18,389
RSUs outstanding (in shares)							18,389
Fair value as of grant date (in dollars per share)	$ 27.19
Remaining lives							9 months

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2024
Contingencies [Abstract]
Settlement receivable	$ 4,000	$ 0
Complaint Related to Merger of SDI [Member] \| Other Income [Member]
Contingencies [Abstract]
Gain on settlement	4,000
Complaint Related to Merger of SDI [Member] \| Other Current Assets [Member]
Contingencies [Abstract]
Settlement receivable	$ 4,000

Income Per Share (Details)

Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator [Abstract]
Net income attributable to Turning Point Brands, Inc.	$ 12,010	$ 7,597
Denominator [Abstract]
Basic weighted average shares (in shares)	17,654,684	17,531,414
Basic EPS (in dollars per share)	$ 0.68	$ 0.43
Numerator [Abstract]
Net income attributable to Turning Point Brands, Inc.	$ 12,010	$ 7,597
Interest expense related to Convertible Senior Notes, net of tax	731	954
Diluted net income attributable to Turning Point Brands. Inc.	$ 12,741	$ 8,551
Denominator [Abstract]
Basic weighted average shares (in shares)	17,654,684	17,531,414
Convertible Senior Notes (in shares)	2,218,018	3,029,699
Stock options and restricted stock units (in shares)	297,612	108,039
Diluted weighted average shares (in shares)	20,170,314	20,669,152
Diluted EPS (in dollars per share)	$ 0.63	$ 0.41

Segment Information, Financial

Segment Information, Financial Information of Reportable Segments (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2024 USD ($) Segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Information [Abstract]
Number of reportable segments \| Segment		3
Segment Information [Abstract]
Net sales		$ 97,058	$ 100,956
Gross profit		51,912	48,617
Operating income (loss)		19,266	17,842
Interest expense, net		3,479	4,010
Investment (income) loss		(119)	4,799
Gain on extinguishment of debt		0	(777)
Income before income taxes		15,906	9,810
Capital expenditures		366	2,435
Depreciation and amortization		1,723	1,547
Assets		586,316		$ 569,356
Zig- Zag and Stoker's Products [Member]
Segment Information [Abstract]
Net sales		83,064	75,549
Gross profit		48,353	41,855
Operating income (loss)		19,269	17,581
Capital expenditures		366	2,435
Depreciation and amortization		1,153	973
Assets		559,125		542,352
Creative Distribution Solutions [Member]
Segment Information [Abstract]
Net sales		13,994	25,407
Reportable Segments [Member] \| Zig-Zag Products [Member]
Segment Information [Abstract]
Net sales		46,697	41,887
Gross profit		27,538	22,390
Operating income (loss)		18,000	13,641
Capital expenditures		166	973
Depreciation and amortization		274	267
Assets		176,629		177,135
Reportable Segments [Member] \| Stoker's Products [Member]
Segment Information [Abstract]
Net sales		36,367	33,662
Gross profit		20,815	19,465
Operating income (loss)		15,396	14,563
Capital expenditures		200	1,462
Depreciation and amortization		879	706
Assets		187,794		174,994
Reportable Segments [Member] \| Creative Distribution Solutions [Member]
Segment Information [Abstract]
Net sales		13,994	25,407
Gross profit		3,559	6,762
Operating income (loss)		(3)	261
Capital expenditures		0	0
Depreciation and amortization		570	574
Assets		27,191		27,004
Corporate Unallocated [Member]
Segment Information [Abstract]
Operating income (loss)	[1],[2]	(14,127)	(10,623)
Operating costs related to PMTA		800	100
Assets	[3]	194,702		$ 190,223
Reconciling Items [Member]
Segment Information [Abstract]
Interest expense, net		3,479	4,010
Investment (income) loss		(119)	4,799
Gain on extinguishment of debt		$ 0	$ (777)

[1] Includes corporate costs that are not allocated to any of the three reportable segments. Includes costs related to PMTA of $0.8 million in 2024 and $0.1 million in 2023. Includes assets not assigned to the three reportable segments. All goodwill has been allocated to the reportable segments.

Segment Information, Revenue Di

Segment Information, Revenue Disaggregation - Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Sales by Sales Channel [Abstract]
Net sales	$ 97,058	$ 100,956
Creative Distribution Solutions [Member]
Net Sales by Sales Channel [Abstract]
Net sales	13,994	25,407
Creative Distribution Solutions [Member] \| Business to Business [Member]
Net Sales by Sales Channel [Abstract]
Net sales	12,585	22,493
Creative Distribution Solutions [Member] \| Business to Consumer - Online [Member]
Net Sales by Sales Channel [Abstract]
Net sales	1,380	2,810
Creative Distribution Solutions [Member] \| Other [Member]
Net Sales by Sales Channel [Abstract]
Net sales	$ 29	$ 104

Segment Information, Net Sales

Segment Information, Net Sales - Domestic and Foreign (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Information [Abstract]
Net sales	$ 97,058	$ 100,956
Reportable Geographical Component [Member] \| Domestic [Member]
Segment Information [Abstract]
Net sales	89,910	93,860
Reportable Geographical Component [Member] \| Foreign [Member]
Segment Information [Abstract]
Net sales	$ 7,148	$ 7,096

Additional Information with R_3

Additional Information with Respect to Unrestricted Subsidiary, Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 97,058	$ 100,956
Cost of sales	45,146	52,339
Gross profit	51,912	48,617
Selling, general, and administrative expenses	32,646	30,775
Operating income	19,266	17,842
Interest expense, net	3,479	4,010
Investment (gain) loss	(119)	4,799
Gain on extinguishment of debt	0	(777)
Income before income taxes	15,906	9,810
Income tax expense (benefit)	3,727	2,468
Consolidated net income	12,179	7,342
Net income (loss) attributable to non-controlling interest	169	(255)
Net income attributable to Turning Point Brands, Inc.	12,010	7,597
Company and Restricted Subsidiaries [Member]
Income Statement [Abstract]
Net sales	83,064	75,549
Cost of sales	34,711	33,694
Gross profit	48,353	41,855
Selling, general, and administrative expenses	29,084	24,274
Operating income	19,269	17,581
Interest expense, net	3,479	4,010
Investment (gain) loss	(119)	4,799
Gain on extinguishment of debt	0	(777)
Income before income taxes	15,909	9,549
Income tax expense (benefit)	3,728	2,402
Consolidated net income	12,181	7,147
Net income (loss) attributable to non-controlling interest	169	(255)
Net income attributable to Turning Point Brands, Inc.	12,012	7,402
Unrestricted Subsidiary [Member]
Income Statement [Abstract]
Net sales	13,994	25,407
Cost of sales	10,435	18,645
Gross profit	3,559	6,762
Selling, general, and administrative expenses	3,562	6,501
Operating income	(3)	261
Interest expense, net	0	0
Investment (gain) loss	0	0
Gain on extinguishment of debt	0	0
Income before income taxes	(3)	261
Income tax expense (benefit)	(1)	66
Consolidated net income	(2)	195
Net income (loss) attributable to non-controlling interest	0	0
Net income attributable to Turning Point Brands, Inc.	$ (2)	$ 195

Additional Information with R_4

Additional Information with Respect to Unrestricted Subsidiary, Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash	$ 130,903	$ 117,886	$ 104,801	$ 106,403
Accounts receivable, net	8,198	9,989
Inventories, net	105,467	98,960
Other current assets	34,437	40,781
Total current assets	279,005	267,616
Property, plant, and equipment, net	24,790	25,300
Deferred income taxes	1,426	1,468
Right of use assets	10,868	11,480
Deferred financing costs, net	2,305	2,450
Goodwill	136,365	136,250
Other intangible assets, net	80,177	80,942
Master Settlement Agreement (MSA) escrow deposits	28,427	28,684
Other assets	22,953	15,166
Investment in unrestricted subsidiaries	0	0
Total assets	586,316	569,356
Current liabilities:
Accounts payable	18,934	8,407
Accrued liabilities	30,974	33,635
Current portion of long-term debt	59,397	58,294
Total current liabilities	109,305	100,336
Notes payable and long-term debt	306,496	307,064
Lease liabilities	9,360	9,950
Total liabilities	425,161	417,350
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands, Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	159,964	150,976
Non-controlling interest	1,191	1,030
Total stockholders' equity	161,155	152,006	$ 119,934	$ 113,380
Total liabilities and stockholders' equity	586,316	569,356
Eliminations [Member]
Current assets:
Cash	0	0
Accounts receivable, net	0	0
Inventories, net	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant, and equipment, net	0	0
Deferred income taxes	0	0
Right of use assets	0	0
Deferred financing costs, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Master Settlement Agreement (MSA) escrow deposits	0	0
Other assets	0	0
Investment in unrestricted subsidiaries	(62,732)	(48,229)
Total assets	(62,732)	(48,229)
Current liabilities:
Accounts payable	0	0
Accrued liabilities	0	0
Current portion of long-term debt	0	0
Total current liabilities	0	0
Notes payable and long-term debt	0	0
Lease liabilities	0	0
Total liabilities	0	0
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands, Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	(62,732)	(48,229)
Non-controlling interest	0	0
Total stockholders' equity	(62,732)	(48,229)
Total liabilities and stockholders' equity	(62,732)	(48,229)
Company and Restricted Subsidiaries [Member]
Current assets:
Cash	126,066	116,725
Accounts receivable, net	8,198	9,989
Inventories, net	99,381	91,679
Other current assets	32,836	36,937
Total current assets	266,481	255,330
Property, plant, and equipment, net	24,705	25,142
Deferred income taxes	1,426	1,468
Right of use assets	10,764	11,359
Deferred financing costs, net	2,305	2,450
Goodwill	136,365	136,250
Other intangible assets, net	66,199	66,490
Master Settlement Agreement (MSA) escrow deposits	28,427	28,684
Other assets	22,453	15,166
Investment in unrestricted subsidiaries	62,732	48,229
Total assets	621,857	590,568
Current liabilities:
Accounts payable	18,596	7,781
Accrued liabilities	29,618	32,052
Current portion of long-term debt	59,397	58,294
Total current liabilities	107,611	98,127
Notes payable and long-term debt	306,496	307,064
Lease liabilities	9,327	9,898
Total liabilities	423,434	415,089
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands, Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	197,232	174,449
Non-controlling interest	1,191	1,030
Total stockholders' equity	198,423	175,479
Total liabilities and stockholders' equity	621,857	590,568
Unrestricted Subsidiary [Member]
Current assets:
Cash	4,837	1,161
Accounts receivable, net	0	0
Inventories, net	6,086	7,281
Other current assets	1,601	3,844
Total current assets	12,524	12,286
Property, plant, and equipment, net	85	158
Deferred income taxes	0	0
Right of use assets	104	121
Deferred financing costs, net	0	0
Goodwill	0	0
Other intangible assets, net	13,978	14,452
Master Settlement Agreement (MSA) escrow deposits	0	0
Other assets	500	0
Investment in unrestricted subsidiaries	0	0
Total assets	27,191	27,017
Current liabilities:
Accounts payable	338	626
Accrued liabilities	1,356	1,583
Current portion of long-term debt	0	0
Total current liabilities	1,694	2,209
Notes payable and long-term debt	0	0
Lease liabilities	33	52
Total liabilities	1,727	2,261
Commitments and contingencies
Stockholders' equity:
Total Turning Point Brands, Inc. Stockholders' Equity/Net parent investment in unrestricted subsidiaries	25,464	24,756
Non-controlling interest	0	0
Total stockholders' equity	25,464	24,756
Total liabilities and stockholders' equity	$ 27,191	$ 27,017

Dividends and Share Repurchas_2

Dividends and Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended
	Apr. 12, 2024	Feb. 24, 2022	Oct. 25, 2021	Mar. 31, 2024	Feb. 25, 2020
Share Repurchases [Abstract]
Share repurchase program authorized amount		$ 50,000	$ 50,000		$ 50,000
Increase in share repurchase program authorized amount		$ 24,600	$ 30,700
Common stock repurchased				$ 2,079
Remaining share repurchase program authorized amount				$ 25,100
Dividend Declared Q1-2024 [Member]
Dividends [Abstract]
Dividend payable, date to be paid				Apr. 12, 2024
Dividend payable, date of record				Mar. 22, 2024
Dividend Declared Q1-2024 [Member] \| Subsequent Event [Member]
Dividends [Abstract]
Cash dividends paid per common share (in dollars per share)	$ 0.07