diff --git a/lib/rules_core/typographer.js b/lib/rules_core/typographer.js
index 54c8f4a..4f2eda6 100644
--- a/lib/rules_core/typographer.js
+++ b/lib/rules_core/typographer.js
@@ -2,13 +2,6 @@
 
 module.exports = function typographer(state) {
   if (!state.options.typographer) { return; }
-  var tokens = state.tokens, tok, i, l;
 
-  // Parse inlines
-  for (i = 0, l = tokens.length; i < l; i++) {
-    tok = tokens[i];
-    if (tok.type === 'inline') {
-      state.typographer.process(tok, state);
-    }
-  }
+  state.typographer.process(state);
 };
diff --git a/lib/rules_text/replace.js b/lib/rules_text/replace.js
index 88d5c39..9d76b61 100644
--- a/lib/rules_text/replace.js
+++ b/lib/rules_text/replace.js
@@ -6,54 +6,61 @@
 var COPY_RE = /\((c|tm|r|p)\)/i;
 var RARE_RE = /\+-|\.\.|\?\?\?\?|!!!!|,,|--/;
 
-module.exports = function replace(typographer, blockToken) {
-  var i, token, text,
-      tokens = blockToken.children,
+module.exports = function replace(state) {
+  var i, token, text, inlineTokens, blkIdx,
+      typographer = state.typographer,
       options = typographer.options;
 
-  for (i = tokens.length - 1; i >= 0; i--) {
-    token = tokens[i];
-    if (token.type === 'text') {
-      text = token.content;
+  for (blkIdx = state.tokens.length - 1; blkIdx >= 0; blkIdx--) {
 
-      if (COPY_RE.test(text)) {
-        if (options.copyright) {
-          text = text.replace(/\(c\)/gi, '©');
-        }
-        if (options.trademark) {
-          text = text.replace(/\(tm\)/gi, '™');
-        }
-        if (options.registered) {
-          text = text.replace(/\(r\)/gi, '®');
-        }
-        if (options.paragraph) {
-          text = text.replace(/\(p\)/gi, '§');
-        }
-      }
+    if (state.tokens[blkIdx].type !== 'inline') { continue; }
 
-      if (RARE_RE.test(text)) {
-        if (options.plusminus) {
-          text = text.replace(/\+-/g, '±');
-        }
-        if (options.ellipsis) {
-          // .., ..., ....... -> …
-          // but ?..... & !..... -> ?.. & !..
-          text = text.replace(/\.{2,}/g, '…').replace(/([?!])…/g, '$1..');
-        }
-        if (options.dupes) {
-          text = text.replace(/([?!]){4,}/g, '$1$1$1').replace(/,{2,}/g, ',');
+    inlineTokens = state.tokens[blkIdx].children;
+
+    for (i = inlineTokens.length - 1; i >= 0; i--) {
+      token = inlineTokens[i];
+      if (token.type === 'text') {
+        text = token.content;
+
+        if (COPY_RE.test(text)) {
+          if (options.copyright) {
+            text = text.replace(/\(c\)/gi, '©');
+          }
+          if (options.trademark) {
+            text = text.replace(/\(tm\)/gi, '™');
+          }
+          if (options.registered) {
+            text = text.replace(/\(r\)/gi, '®');
+          }
+          if (options.paragraph) {
+            text = text.replace(/\(p\)/gi, '§');
+          }
         }
-        if (options.dashes) {
-          text = text
-                  // em-dash
-                  .replace(/(^|[^-])---([^-]|$)/mg, '$1\u2014$2')
-                  // en-dash
-                  .replace(/(^|\s)--(\s|$)/mg, '$1\u2013$2')
-                  .replace(/(^|[^-\s])--([^-\s]|$)/mg, '$1\u2013$2');
+
+        if (RARE_RE.test(text)) {
+          if (options.plusminus) {
+            text = text.replace(/\+-/g, '±');
+          }
+          if (options.ellipsis) {
+            // .., ..., ....... -> …
+            // but ?..... & !..... -> ?.. & !..
+            text = text.replace(/\.{2,}/g, '…').replace(/([?!])…/g, '$1..');
+          }
+          if (options.dupes) {
+            text = text.replace(/([?!]){4,}/g, '$1$1$1').replace(/,{2,}/g, ',');
+          }
+          if (options.dashes) {
+            text = text
+                    // em-dash
+                    .replace(/(^|[^-])---([^-]|$)/mg, '$1\u2014$2')
+                    // en-dash
+                    .replace(/(^|\s)--(\s|$)/mg, '$1\u2013$2')
+                    .replace(/(^|[^-\s])--([^-\s]|$)/mg, '$1\u2013$2');
+          }
         }
-      }
 
-      token.content = text;
+        token.content = text;
+      }
     }
   }
 };
diff --git a/lib/rules_text/smartquotes.js b/lib/rules_text/smartquotes.js
index 8febc38..fe495ec 100644
--- a/lib/rules_text/smartquotes.js
+++ b/lib/rules_text/smartquotes.js
@@ -20,82 +20,90 @@ function replaceAt(str, index, ch) {
   return str.substr(0, index) + ch + str.substr(index + 1);
 }
 
-var stack = [];
 
-module.exports = function smartquotes(typographer, blockToken) {
+module.exports = function smartquotes(state) {
   /*eslint max-depth:0*/
-  var i, token, text, t, pos, max, thisLevel, lastSpace, nextSpace, item, canOpen, canClose, j, isSingle, chars,
+  var i, token, text, t, pos, max, thisLevel, lastSpace, nextSpace, item,
+      canOpen, canClose, j, isSingle, chars, blkIdx, tokens,
+      typographer = state.typographer,
       options = typographer.options,
-      tokens = blockToken.children;
+      stack = [];
 
-  stack.length = 0;
 
-  for (i = 0; i < tokens.length; i++) {
-    token = tokens[i];
+  for (blkIdx = state.tokens.length - 1; blkIdx >= 0; blkIdx--) {
 
-    if (token.type !== 'text' || QUOTE_TEST_RE.test(token.text)) { continue; }
+    if (state.tokens[blkIdx].type !== 'inline') { continue; }
 
-    thisLevel = tokens[i].level;
+    tokens = state.tokens[blkIdx].children;
+    stack.length = 0;
 
-    for (j = stack.length - 1; j >= 0; j--) {
-      if (stack[j].level <= thisLevel) { break; }
-    }
-    stack.length = j + 1;
-
-    text = token.content;
-    pos = 0;
-    max = text.length;
-
-    /*eslint no-labels:0,block-scoped-var:0*/
-    OUTER:
-    while (pos < max) {
-      QUOTE_RE.lastIndex = pos;
-      t = QUOTE_RE.exec(text);
-      if (!t) { break; }
-
-      lastSpace = !isLetter(text, t.index - 1);
-      pos = t.index + 1;
-      isSingle = (t[0] === "'");
-      nextSpace = !isLetter(text, pos);
-
-      if (!nextSpace && !lastSpace) {
-        // middle of word
-        if (isSingle) {
-          token.content = replaceAt(token.content, t.index, APOSTROPHE);
-        }
-        continue;
+    for (i = 0; i < tokens.length; i++) {
+      token = tokens[i];
+
+      if (token.type !== 'text' || QUOTE_TEST_RE.test(token.text)) { continue; }
+
+      thisLevel = tokens[i].level;
+
+      for (j = stack.length - 1; j >= 0; j--) {
+        if (stack[j].level <= thisLevel) { break; }
       }
+      stack.length = j + 1;
+
+      text = token.content;
+      pos = 0;
+      max = text.length;
+
+      /*eslint no-labels:0,block-scoped-var:0*/
+      OUTER:
+      while (pos < max) {
+        QUOTE_RE.lastIndex = pos;
+        t = QUOTE_RE.exec(text);
+        if (!t) { break; }
+
+        lastSpace = !isLetter(text, t.index - 1);
+        pos = t.index + 1;
+        isSingle = (t[0] === "'");
+        nextSpace = !isLetter(text, pos);
+
+        if (!nextSpace && !lastSpace) {
+          // middle of word
+          if (isSingle) {
+            token.content = replaceAt(token.content, t.index, APOSTROPHE);
+          }
+          continue;
+        }
 
-      canOpen = !nextSpace;
-      canClose = !lastSpace;
+        canOpen = !nextSpace;
+        canClose = !lastSpace;
 
-      if (canClose) {
-        // this could be a closing quote, rewind the stack to get a match
-        for (j = stack.length - 1; j >= 0; j--) {
-          item = stack[j];
-          if (stack[j].level < thisLevel) { break; }
-          if (item.single === isSingle && stack[j].level === thisLevel) {
+        if (canClose) {
+          // this could be a closing quote, rewind the stack to get a match
+          for (j = stack.length - 1; j >= 0; j--) {
             item = stack[j];
-            chars = isSingle ? options.singleQuotes : options.doubleQuotes;
-            if (chars) {
-              tokens[item.token].content = replaceAt(tokens[item.token].content, item.pos, chars[0]);
-              token.content = replaceAt(token.content, t.index, chars[1]);
+            if (stack[j].level < thisLevel) { break; }
+            if (item.single === isSingle && stack[j].level === thisLevel) {
+              item = stack[j];
+              chars = isSingle ? options.singleQuotes : options.doubleQuotes;
+              if (chars) {
+                tokens[item.token].content = replaceAt(tokens[item.token].content, item.pos, chars[0]);
+                token.content = replaceAt(token.content, t.index, chars[1]);
+              }
+              stack.length = j;
+              continue OUTER;
             }
-            stack.length = j;
-            continue OUTER;
           }
         }
-      }
 
-      if (canOpen) {
-        stack.push({
-          token: i,
-          pos: t.index,
-          single: isSingle,
-          level: thisLevel
-        });
-      } else if (canClose && isSingle) {
-        token.content = replaceAt(token.content, t.index, APOSTROPHE);
+        if (canOpen) {
+          stack.push({
+            token: i,
+            pos: t.index,
+            single: isSingle,
+            level: thisLevel
+          });
+        } else if (canClose && isSingle) {
+          token.content = replaceAt(token.content, t.index, APOSTROPHE);
+        }
       }
     }
   }
diff --git a/lib/typographer.js b/lib/typographer.js
index dd549e1..1d30d02 100644
--- a/lib/typographer.js
+++ b/lib/typographer.js
@@ -33,13 +33,13 @@ Typographer.prototype.set = function (options) {
 };
 
 
-Typographer.prototype.process = function (token) {
+Typographer.prototype.process = function (state) {
   var i, l, rules;
 
   rules = this.ruler.getRules('');
 
   for (i = 0, l = rules.length; i < l; i++) {
-    rules[i](this, token);
+    rules[i](state);
   }
 };