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Derivatives And Hedging Activities (Tables) | 12 Months Ended
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Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amount of Forward Contracts | The aggregate U.S. dollar notional amount of forward and option contracts entered for these purposes during fiscal years 2021, 2020, and 2019 was as follows:
|  | Fiscal Year Ended March 31,
(in millions) |  | 2021 |  | 2020 |  | 2019
Tobacco purchases |  | $ | 101.3 |  |  | $ | 123.2 |  |  | $ | 76.9 |
Processing costs |  | 27.8 |  |  | 35.1 |  |  | 19.8 |
Crop input sales |  | 23.5 |  |  | 21.7 |  |  | — |
Total |  | $ | 152.6 |  |  | $ | 180.0 |  |  | $ | 96.7 |
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 fiscal years ended March 31, 2021, 2020, and 2019.
|  | Fiscal Year Ended March 31,
|  | 2021 |  | 2020 |  | 2019
Cash Flow Hedges - Interest Rate Swap Agreements |  |  |  |  |  |
Derivative |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | 3,033 |  |  | $ | (32,389) |  |  | $ | (7,496) |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | (8,411) |  |  | $ | (1,577) |  |  | $ | 1,689 |
Gain on terminated interest rate swaps amortized from accumulated other comprehensive loss into earnings |  | $ | 1,416 |  |  | $ | 2,691 |  |  | $ | 260 |
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 loans
Cash Flow Hedges - Forward Foreign Currency Exchange Contracts |  |  |  |  |  |
Derivative |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | (272) |  |  | $ | (13,646) |  |  | $ | (2,623) |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | (13,926) |  |  | $ | 1,108 |  |  | $ | (3,034) |
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 |  | $ | — |  |  | $ | — |  |  | $ | — |
Location of gain (loss) recognized in earnings |  | Selling, general and administrative expenses
Hedged Item |  |  |  |  |  |
Description of hedged item |  | Forecast purchases of tobacco in Brazil and Africa
Derivatives Not Designated as Hedges - Forward Foreign Currency Exchange Contracts |  |  |  |  |  |
Gain (loss) recognized in earnings |  | $ | (872) |  |  | $ | (4,013) |  |  | $ | (4,671) |
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 March 31, 2021 and 2020:
|  | Derivatives in a Fair Value Asset Position |  | Derivatives in a Fair Value Liability Position
|  | Balance Sheet Location |  | Fair Value as of March 31, |  | Balance Sheet Location |  | Fair Value as of March 31,
|  |  | 2021 |  | 2020 |  |  | 2021 |  | 2020
Derivatives Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | Other non-current assets |  | $ | — |  |  | $ | — |  |  | Other long-term liabilities |  | $ | 25,719 |  |  | $ | 37,163 |
Forward foreign currency exchange contracts |  | Other current assets |  | 1,137 |  |  | — |  |  | Accounts payable and accrued expenses |  | 1,031 |  |  | 11,467 |
Total |  |  |  | $ | 1,137 |  |  | $ | — |  |  |  |  | $ | 26,750 |  |  | $ | 48,630 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | Other current assets |  | $ | 435 |  |  | $ | 314 |  |  | Accounts payable and accrued expenses |  | $ | 791 |  |  | $ | 4,375 |
Total |  |  |  | $ | 435 |  |  | $ | 314 |  |  |  |  | $ | 791 |  |  | $ | 4,375 |
Substantially all of the Company's forward foreign currency exchange contracts are subject to master netting arrangements, whereby the right to offset occurs in the event of default by a participating party. The Company has elected to present these contracts on a gross basis in the consolidated balance sheets.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
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