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Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Abstract]  
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) attributable to the Company for the three months ended June 30, 2014 and 2013:

 
 
Three Months Ended June 30,
(in thousands of dollars)
 
2014
 
2013
Foreign currency translation:
 
 
 
 
Balance at beginning of year
 
$
(8,476
)
 
$
(15,555
)
Other comprehensive income (loss) attributable to Universal Corporation:
 
 
 
 
Net gain (loss) on foreign currency translation (net of tax (expense) benefit of $609 and $(805))
 
(1,132
)
 
1,494

Less: Net loss on foreign currency translation attributable to noncontrolling interests
 
245

 
326

Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes
 
(887
)
 
1,820

 
 
 
 
 
Balance at end of period
 
$
(9,363
)
 
$
(13,735
)
 
 
 
 
 
Foreign currency hedge:
 
 
 
 
Balance at beginning of year
 
$
769

 
$
(855
)
Other comprehensive income (loss) attributable to Universal Corporation:
 
 
 
 
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(583) and $976)
 
1,083

 
(1,811
)
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $98 and $(38)) (1)
 
(183
)
 
70

Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes
 
900

 
(1,741
)
 
 
 
 
 
Balance at end of period
 
$
1,669

 
$
(2,596
)
 
 
 
 
 
Interest rate hedge:
 
 
 
 
Balance at beginning of year
 
$
(608
)
 
$
(1,091
)
Other comprehensive income (loss) attributable to Universal Corporation:
 
 
 
 
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $55 and $(109))
 
(103
)
 
201

Reclassification of loss to earnings (net of tax benefit of $(72) and $(79)) (2)
 
135

 
148

Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes
 
32

 
349

 
 
 
 
 
Balance at end of period
 
$
(576
)
 
$
(742
)
 
 
 
 
 
Pension and other postretirement benefit plan:
 
 
 
 
Balance at beginning of year
 
$
(26,017
)
 
$
(58,039
)
Other comprehensive income (loss) attributable to Universal Corporation:
 
 
 
 
Amortization included in earnings (net of tax benefit of $(258) and $(755)) (3)
 
535

 
1,402

Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes
 
535

 
1,402

 
 
 
 
 
Balance at end of period
 
$
(25,482
)
 
$
(56,637
)
 
 
 
 
 
Total accumulated other comprehensive income (loss) at end of period
 
$
(33,752
)
 
$
(73,710
)

(1) Gain (loss) on foreign currency cash flow hedges is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the related tobacco is sold to customers. See Note 6 for additional information.
(2) Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the debt. See Note 6 for additional information.
(3) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 8 for additional information.