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Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Financial Assets And Liabilities Measured At Fair Value On Recurring Basis

At June 30, 2017 and 2016, and at March 31, 2017, 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 or the NAV practical expedient:

		June 30, 2017
						Fair Value Hierarchy
(in thousands of dollars)		NAV				Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	22,209			$	—			$	—			$	—			$	22,209
Trading securities associated with deferred compensation plans		—				17,273				—				—				17,273
Interest rate swap agreements		—				—				1,201				—				1,201
Forward foreign currency exchange contracts		—				—				626				—				626
Total financial assets measured and reported at fair value		$	22,209			$	17,273			$	1,827			$	—			$	41,309
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	—			$	1,169			$	1,169
Forward foreign currency exchange contracts		—				—				947				—				947
Total financial liabilities measured and reported at fair value		$	—			$	—			$	947			$	1,169			$	2,116

		June 30, 2016
						Fair Value Hierarchy
(in thousands of dollars)		NAV				Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	181,786			$	—			$	—			$	—			$	181,786
Trading securities associated with deferred compensation plans		—				17,347				—				—				17,347
Forward foreign currency exchange contracts		—				—				323				—				323
Total financial assets measured and reported at fair value		$	181,786			$	17,347			$	323			$	—			$	199,456
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	—			$	1,848			$	1,848
Interest rate swap agreements		—				—				14,077				—				14,077
Forward foreign currency exchange contracts		—				—				1,518				—				1,518
Total financial liabilities measured and reported at fair value		$	—			$	—			$	15,595			$	1,848			$	17,443

		March 31, 2017
						Fair Value Hierarchy
(in thousands of dollars)		NAV				Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	137,145			$	—			$	—			$	—			$	137,145
Trading securities associated with deferred compensation plans		—				17,726				—				—				17,726
Interest rate swap agreements		—				—				2,149				—				2,149
Forward foreign currency exchange contracts		—				—				973				—				973
Total financial assets measured and reported at fair value		$	137,145			$	17,726			$	3,122			$	—			$	157,993
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	—			$	1,177			$	1,177
Forward foreign currency exchange contracts		—				—				175				—				175
Total financial liabilities measured and reported at fair value		$	—			$	—			$	175			$	1,177			$	1,352

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 three months ended June 30, 2017 and 2016 is provided below.

		Three Months Ended June 30,
(in thousands of dollars)		2017				2016
Balance at beginning of year		$	1,177			$	1,628
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from portfolio)		—				—
Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans)		28				16
Change in discount rate and estimated collection period		15				24
Currency remeasurement		(51		)		180
Balance at end of period		$	1,169			$	1,848

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- References

No definition available.

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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=66048111&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=66048111&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=66048111&loc=d3e19190-110258

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