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Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Financial Assets And Liabilities Measured At Fair Value On Recurring Basis

At December 31, 2018 and 2017, and at March 31, 2018, 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:

		December 31, 2018
						Fair Value Hierarchy
(in thousands of dollars)		NAV				Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	1,716			$	—			$	—			$	—			$	1,716
Trading securities associated with deferred compensation plans		—				15,115				—				—				15,115
Interest rate swap agreements		—				—				6,075				—				6,075
Foreign currency exchange contracts		—				—				697				—				697
Total financial assets measured and reported at fair value		$	1,716			$	15,115			$	6,772			$	—			$	23,603
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	—			$	784			$	784
Foreign currency exchange contracts		—				—				34				—				34
Total financial liabilities measured and reported at fair value		$	—			$	—			$	34			$	784			$	818

		December 31, 2017
						Fair Value Hierarchy
(in thousands of dollars)		NAV				Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	1,625			$	—			$	—			$	—			$	1,625
Trading securities associated with deferred compensation plans		—				17,386				—				—				17,386
Interest rate swap agreements		—				—				4,516				—				4,516
Foreign currency exchange contracts		—				—				379				—				379
Total financial assets measured and reported at fair value		$	1,625			$	17,386			$	4,895			$	—			$	23,906
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	—			$	1,149			$	1,149
Foreign currency exchange contracts		—				—				15				—				15
Total financial liabilities measured and reported at fair value		$	—			$	—			$	15			$	1,149			$	1,164

		March 31, 2018
						Fair Value Hierarchy
(in thousands of dollars)		NAV				Level 1				Level 2				Level 3				Total
Assets
Money market funds		$	89,767			$	—			$	—			$	—			$	89,767
Trading securities associated with deferred compensation plans		—				17,519				—				—				17,519
Interest rate swap agreements		—				—				8,262				—				8,262
Foreign currency exchange contracts		—				—				360				—				360
Total financial assets measured and reported at fair value		$	89,767			$	17,519			$	8,622			$	—			$	115,908
Liabilities
Guarantees of bank loans to tobacco growers		$	—			$	—			$	—			$	974			$	974
Foreign currency exchange contracts		—				—				392				—				392
Total financial liabilities measured and reported at fair value		$	—			$	—			$	392			$	974			$	1,366

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 nine months ended December 31, 2018 and 2017 is provided below.

		Nine Months Ended December 31,
(in thousands of dollars)		2018				2017
Balance at beginning of year		$	974			$	1,177
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from portfolio)		(777		)		(1,047		)
Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans)		746				1,051
Change in discount rate and estimated collection period		44				28
Currency remeasurement		(203		)		(60		)
Balance at end of period		$	784			$	1,149

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

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