XML 16 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements Of Income - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]      
Sales and other operating revenues $ 2,033,947 $ 2,071,218 $ 2,120,373
Costs and expenses      
Cost of goods sold 1,661,999 1,676,539 1,713,042
Selling, general and administrative expenses 200,461 211,969 226,685
Other income [1] 0 0 (3,390)
Restructuring and impairment costs 0 4,359 2,389
Operating income 171,487 178,351 181,647
Equity in pretax earnings of unconsolidated affiliates [2] 9,125 5,774 5,422
Interest income 1,686 1,397 1,178
Interest expense 15,621 16,284 15,669
Income before income taxes 166,677 169,238 172,578
Income taxes 50,509 56,732 54,430
Net income 116,168 112,506 118,148
Less: net income attributable to noncontrolling interests in subsidiaries (10,506) (6,202) (9,132)
Net income attributable to Universal Corporation 105,662 106,304 109,016
Dividends on Universal Corporation convertible perpetual preferred stock 0 (11,061) (14,748)
Cost in excess of carrying value on conversion/repurchase of convertible perpetual preferred stock 0 (74,353) 0
Earnings available to Universal Corporation common shareholders $ 105,662 $ 20,890 $ 94,268
Earnings per share attributable to Universal Corporation common shareholders:      
Basic $ 4.18 $ 0.89 $ 4.16
Diluted $ 4.14 $ 0.88 $ 3.92
Weighted average common shares outstanding:      
Basic 25,274,975 23,433,860 22,683,290
Diluted 25,508,144 23,770,088 27,825,491
[1] Other income in fiscal year 2016 represents a gain from remeasuring to fair value the Company's original 50% ownership in Procesadora Unitab, S.A., a tobacco processing joint venture in Guatemala, upon acquiring the 50% interest held by the Company's joint venture partner (See Note 13).
[2] Equity in pretax earnings of unconsolidated affiliates is included in segment operating income (Other Tobacco Operations segment), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income.