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Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Financial Assets And Liabilities Measured At Fair Value On Recurring Basis

At March 31, 2014 and 2013, the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy:

		March 31, 2014
		Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	—			$	1,527			$	—			$	1,527
Trading securities associated with deferred compensation plans		19,754				—				—				19,754
Forward foreign currency exchange contracts		—				2,074				—				2,074
Total financial assets measured and reported at fair value		$	19,754			$	3,601			$	—			$	23,355
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	2,270			$	2,270
Interest rate swap agreements		—				936				—				936
Forward foreign currency exchange contracts		—				3,973				—				3,973
Total financial liabilities measured and reported at fair value		$	—			$	4,909			$	2,270			$	7,179
		March 31, 2013
		Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	—			$	174,551			$	—			$	174,551
Trading securities associated with deferred compensation plans		19,168				—				—				19,168
Total financial assets measured and reported at fair value		$	19,168			$	174,551			$	—			$	193,719
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	4,235			$	4,235
Interest rate swap agreements		—				1,679				—				1,679
Forward foreign currency exchange contracts		—				1,141				—				1,141
Total financial liabilities measured and reported at fair value		$	—			$	2,820			$	4,235			$	7,055

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

A reconciliation of the change in the balance of the financial liability for guarantees of bank loans to tobacco growers (Level 3) for the fiscal years ended March 31, 2014 and 2013 is provided below.

		Fiscal Year Ended March 31,
		2014				2013
Balance at beginning of year		$	4,235			$	5,932
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio)		(7,463		)		(7,352		)
Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans)		5,566				5,690
Change in discount rate and estimated collection period		130				135
Currency remeasurement		(198		)		(170		)
Balance at end of year		$	2,270			$	4,235

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258

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