XML 62 R20.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Derivatives And Hedging Activities (Tables) | 3 Months Ended
--- | ---
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amount of Forward Contracts | The aggregate U.S. dollar notional amount of forward contracts entered for these purposes during the first three months of fiscal years 2016 and 2015, was as follows:
|  | Three Months Ended June 30,
(in millions of dollars) |  | 2015 |  | 2014
Tobacco purchases |  | $ | 19.1 |  |  | $ | 53.8 |
Processing costs |  | 5.1 |  |  | 12.3 |
Total |  | $ | 24.2 |  |  | $ | 66.1 |
Effect Of Derivative Financial Instruments On The Consolidated Statements Of Income | The table below outlines the effects of the Company’s use of derivative financial instruments on the consolidated statements of income for the three-month periods ended June 30, 2015 and 2014:
|  | Three Months Ended June 30,
(in thousands of dollars) |  | 2015 |  | 2014
Cash Flow Hedges - Interest Rate Swap Agreements |  |  |  |
Derivative |  |  |  |
Effective Portion of Hedge |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | 3,676 |  |  | $ | (159 | )
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | (1,335 | ) |  | $ | (207 | )
Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | Interest expense
Ineffective Portion of Hedge |  |  |  |
Gain (loss) recognized in earnings |  | $ | — |  |  | $ | — |
Location of gain (loss) recognized in earnings |  | Selling, general and administrative expenses
Hedged Item |  |  |  |
Description of hedged item |  | Floating rate interest payments on term loan
Cash Flow Hedges - Forward Foreign Currency Exchange Contracts |  |  |  |
Derivative |  |  |  |
Effective Portion of Hedge |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | 1,182 |  |  | $ | 1,653 |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | 14 |  |  | $ | 251 |
Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | Cost of goods sold
Ineffective Portion and Early De-designation of Hedges |  |  |  |
Gain (loss) recognized in earnings |  | $ | 1,418 |  |  | $ | 227 |
Location of gain (loss) recognized in earnings |  | Selling, general and administrative expenses
Hedged Item |  |  |  |
Description of hedged item |  | Forecast purchases of tobacco in Brazil
Derivatives Not Designated as Hedges - Forward Foreign Currency Exchange Contracts |  |  |  |
Gain (loss) recognized in earnings |  | $ | (2,144 | ) |  | $ | (1,295 | )
Location of gain (loss) recognized in earnings |  | Selling, general and administrative expenses
Effect Of Derivative Financial Instruments On The Consolidated Balance Sheets | The table below outlines the effects of the Company’s derivative financial instruments on the consolidated balance sheets at June 30, 2015 and 2014, and March 31, 2015:
|  | Derivatives in a Fair Value Asset Position |  | Derivatives in a Fair Value Liability Position
|  | Balance Sheet Location |  | Fair Value as of |  | Balance Sheet Location |  | Fair Value as of
(in thousands of dollars) |  |  | June 30, 2015 |  | June 30, 2014 |  | March 31, 2015 |  |  | June 30, 2015 |  | June 30, 2014 |  | March 31, 2015
Derivatives Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | Other non-current assets |  | $ | 1,961 |  |  | $ | — |  |  | $ | — |  |  | Other long-term liabilities |  | $ | — |  |  | $ | 887 |  |  | $ | 3,050 |
Forward foreign currency exchange contracts |  | Other current assets |  | 117 |  |  | 276 |  |  | 106 |  |  | Accounts payable and accrued expenses |  | 207 |  |  | — |  |  | 396 |
Total |  |  |  | $ | 2,078 |  |  | $ | 276 |  |  | $ | 106 |  |  |  |  | $ | 207 |  |  | $ | 887 |  |  | $ | 3,446 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | Other current assets |  | $ | 503 |  |  | $ | 121 |  |  | $ | 5,148 |  |  | Accounts payable and accrued expenses |  | $ | 153 |  |  | $ | 1,635 |  |  | $ | 183 |
Total |  |  |  | $ | 503 |  |  | $ | 121 |  |  | $ | 5,148 |  |  |  |  | $ | 153 |  |  | $ | 1,635 |  |  | $ | 183 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration