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Fair Value Measurements (Tables) | 12 Months Ended
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Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis | At March 31, 2021 and 2020, 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:
|  | March 31, 2021
|  |  |  | Fair Value Hierarchy |  |
|  | NAV |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 1,992 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,992 |
Trading securities associated with deferred compensation plans |  | — |  |  | 15,735 |  |  | — |  |  | — |  |  | 15,735 |
Forward foreign currency exchange contracts |  | — |  |  | — |  |  | 1,572 |  |  | — |  |  | 1,572 |
Total financial assets measured and reported at fair value |  | $ | 1,992 |  |  | $ | 15,735 |  |  | $ | 1,572 |  |  | $ | — |  |  | $ | 19,299 |
Liabilities |  |  |  |  |  |  |  |  |  |
Acquisition-related contingent consideration obligations - long-term |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,532 |  |  | $ | 2,532 |
Interest rate swap agreements |  | — |  |  | — |  |  | 25,719 |  |  | — |  |  | 25,719 |
Forward foreign currency exchange contracts |  | — |  |  | — |  |  | 1,822 |  |  | — |  |  | 1,822 |
Total financial liabilities measured and reported at fair value |  | $ | — |  |  | $ | — |  |  | $ | 27,541 |  |  | $ | 2,532 |  |  | $ | 30,073 |
|  | March 31, 2020
|  |  |  | Fair Value Hierarchy |  |
|  | NAV |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 4,011 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,011 |
Trading securities associated with deferred compensation plans |  | — |  |  | 12,635 |  |  | — |  |  | — |  |  | 12,635 |
Forward foreign currency exchange contracts |  | — |  |  | — |  |  | 314 |  |  | — |  |  | 314 |
Total financial assets measured and reported at fair value |  | $ | 4,011 |  |  | $ | 12,635 |  |  | $ | 314 |  |  | $ | — |  |  | $ | 16,960 |
Liabilities |  |  |  |  |  |  |  |  |  |
Guarantees of bank loans to tobacco growers |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 103 |  |  | $ | 103 |
Acquisition-related contingent consideration obligations - short-term |  | — |  |  | — |  |  | — |  |  | 4,173 |  |  | $ | 4,173 |
Acquisition-related contingent consideration obligations - long-term |  | — |  |  | — |  |  | — |  |  | 2,532 |  |  | $ | 2,532 |
Interest rate swap agreements |  | — |  |  | — |  |  | 37,163 |  |  | — |  |  | 37,163 |
Forward foreign currency exchange contracts |  | — |  |  | — |  |  | 15,842 |  |  | — |  |  | 15,842 |
Total financial liabilities measured and reported at fair value |  | $ | — |  |  | $ | — |  |  | $ | 53,005 |  |  | $ | 6,808 |  |  | $ | 59,813 |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration | A reconciliation of the change in the balance of the acquisition-related contingent consideration obligation (Level 3) for the fiscal years ended March 31, 2021 and 2020 is provided below.
| Fiscal Year Ended March 31,
| 2021 |  | 2020
Balance beginning of year | $ | 6,705 |  |  | $ | — |
Additions | — |  |  | 6,705 |
Change in fair value of contingent consideration liability | (4,173) |  |  | — |
Balance at end of year | $ | 2,532 |  |  | $ | 6,705 |
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 fiscal years ended March 31, 2021 and 2020 is provided below.
|  | Fiscal Year Ended March 31,
|  | 2021 |  | 2020
Balance at beginning of year |  | $ | 103 |  |  | $ | 803 |
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio) |  | (96) |  |  | (659) |
Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans) |  | — |  |  | (5) |
Change in discount rate and estimated collection period |  | (2) |  |  | (7) |
Currency remeasurement |  | (5) |  |  | (29) |
Balance at end of year |  | $ | — |  |  | $ | 103 |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table summarizes the fair and carrying value of the Company’s long-term debt, including the current portion at each of the balance sheet dates March 31, 2021 and 2020:
| Fiscal Year Ended March 31,
(in millions of dollars) | 2021 |  | 2020
Fair market value of long term obligations | $ | 517 |  |  | $ | 370 |
Carrying value of long term obligations | $ | 520 |  |  | $ | 370 |

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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=117815213&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=117815213&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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