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Derivatives And Hedging Activities (Tables)
 3 Months Ended
Jun. 30, 2016
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 2017 and 2016, was as follows:

 
 
Three Months Ended June 30,
(in millions of dollars)
 
2016
 
2015
 
 
 
 
 
Tobacco purchases
 
$
9.7

 
$
19.1

Processing costs
 
2.7

 
5.1

Total
 
$
12.4

 
$
24.2
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, 2016 and 2015:
 
 
Three Months Ended June 30,
(in thousands of dollars)
 
2016
 
2015
 
 
 
 
 
Cash Flow Hedges - Interest Rate Swap Agreements
 
 
 
 
Derivative
 
 
 
 
Effective Portion of Hedge
 
 
 
 
Gain (loss) recorded in accumulated other comprehensive loss
 
$
(4,404
)
 
$
3,676

Gain (loss) reclassified from accumulated other comprehensive loss into earnings
 
$
(1,093
)
 
$
(1,335
)
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
 
$
453

 
$
1,182

Gain (loss) reclassified from accumulated other comprehensive loss into earnings
 
$
14

 
$
14

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
 
$
246

 
$
1,418

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
 
$
(1,469
)
 
$
(2,144
)
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, 2016 and 2015, and March 31, 2016:

 
 
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,
2016
 
June 30,
2015
 
March 31, 2016
 
 
June 30,
2016
 
June 30,
2015
 
March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives Designated as Hedging Instruments
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements
 
Other
non-current
assets
 
$
—

 
$
1,961

 
$
—

 
Other
long-term
liabilities
 
$
14,077

 
$
—

 
$
10,766

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forward foreign currency exchange contracts
 
Other
current
assets
 
—

 
117

 
475

 
Accounts
payable and
accrued
expenses
 
—

 
207

 
—

Total
 
 
 
$
—

 
$
2,078

 
$
475

 
 
 
$
14,077

 
$
207

 
$
10,766

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
 
 
 
 
 
Forward foreign currency exchange contracts
 
Other
current
assets
 
$
323

 
$
503

 
$
297

 
Accounts
payable and
accrued
expenses
 
$
1,518

 
$
153

 
$
5

Total
 
 
 
$
323

 
$
503

 
$
297

 
 
 
$
1,518

 
$
153

 
$
5