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Operating Segments | 12 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Operating Segments | OPERATING SEGMENTS As a result of recent acquisitions of plant-based ingredients companies in fiscal year 2020 and 2021, during the fiscal year ended March 31, 2021 management evaluated the Company’s global business activities, including product and service offerings to its customers, as well as senior management’s operational and financial responsibilities. This assessment included an analysis of how its chief operating decision maker measures business performance and allocates resources. As a result of this analysis, senior management determined the Company conducts operations across two reportable operating segments, Tobacco Operations and Ingredients Operations. The Tobacco Operations segment activities involve selecting, procuring, processing, packing, storing, shipping, and financing leaf tobacco for sale to, or for the account of, manufacturers of consumer tobacco products throughout the world. Through various operating subsidiaries located in tobacco-growing countries around the world and significant ownership interests in unconsolidated affiliates, the Company processes and/or sells flue-cured and burley tobaccos, dark air-cured tobaccos, and oriental tobaccos. Flue-cured, burley, and oriental tobaccos are used principally in the manufacture of cigarettes, and dark air-cured tobaccos are used mainly in the manufacture of cigars, pipe tobacco, and smokeless tobacco products. Some of these tobacco types are also increasingly used in the manufacture of non-combustible tobacco products that are intended to provide consumers with an alternative to traditional combustible products. The Tobacco Operations segment also provides physical and chemical product testing and smoke testing for tobacco customers. A substantial portion of the Company’s Tobacco Operations' revenues are derived from sales to a limited number of large, multinational cigarette and cigar manufacturers. The Ingredients Operations segment provides its customers with a broad variety of plant-based ingredients for both human and pet consumption. The Ingredients Operations segment utilizes a variety of value-added manufacturing processes converting raw materials into a wide spectrum of fruit and vegetable juices, concentrates, and dehydrated products. Customers for the Ingredients Operations segment include large multinational food and beverage companies, as well as smaller independent entities. FruitSmart, Silva, and CIFI are the primary operations for the Ingredients Operations segment. FruitSmart manufactures fruit and vegetable juices, purees, concentrates, essences, fibers, seeds, seed oils, and seed powders. Silva is primarily a dehydrated product manufacturer of fruit and vegetable based flakes, dices, granules, powders, and blends. In December 2020, the Company announced the wind-down of CIFI, a greenfield operation that primarily manufactured both dehydrated and liquid sweet potato products. See Note 4 for additional information about the wind-down of CIFI. Universal incurs overhead expenses related to senior management, sales, finance, legal, and other functions that are centralized at its corporate headquarters, as well as functions performed at several sales and administrative offices around the world. These overhead expenses are currently allocated to the reportable operating segments, generally on the basis of volumes planned to be purchased and/or processed. Management believes this method of allocation is currently representative of the value of the related services provided to the operating segments. The Company currently evaluates the performance of its segments based on operating income after allocated overhead expenses, plus equity in the pretax earnings of unconsolidated affiliates. Reportable segment data as of, or for, the fiscal years ended March 31, 2021, 2020, and 2019, is as follows, including a recast of the new reportable operating segments presentation for all periods:
| Sales and Other Operating Revenues |  | Operating Income
| Fiscal Year Ended March 31, |  | Fiscal Year Ended March 31,
| 2021 |  | 2020 |  | 2019 |  | 2021 |  | 2020 |  | 2019
Tobacco Operations | $ | 1,841,837 |  |  | $ | 1,887,084 |  |  | $ | 2,222,246 |  |  | $ | 168,832 |  |  | $ | 146,637 |  |  | $ | 195,383 |
Ingredients Operations | 141,520 |  |  | 22,895 |  |  | 4,907 |  |  | 367 |  |  | (8,516) |  |  | (8,611) |
Subtotal | 1,983,357 |  |  | 1,909,979 |  |  | 2,227,153 |  |  | 169,199 |  |  | 138,121 |  |  | 186,772 |
Deduct: Equity in pretax earnings of unconsolidated affiliates (1) |  |  |  |  |  |  | (2,985) |  |  | (4,211) |  |  | (5,299) |
Restructuring and impairment costs (2) |  |  |  |  |  |  | (22,577) |  |  | (7,543) |  |  | (20,304) |
Add: Other income (3) |  |  |  |  |  |  | 4,173 |  |  | — |  |  | — |
Consolidated total | $ | 1,983,357 |  |  | $ | 1,909,979 |  |  | $ | 2,227,153 |  |  | $ | 147,810 |  |  | $ | 126,367 |  |  | $ | 161,169 |
| Segment Assets |  | Accounts Receivable, net
| March 31, |  | March 31,
| 2021 |  | 2020 |  | 2019 |  | 2021 |  | 2020 |  | 2019
Tobacco Operations | $ | 2,002,059 |  |  | $ | 1,985,732 |  |  | $ | 2,108,641 |  |  | $ | 336,876 |  |  | $ | 330,367 |  |  | $ | 367,579 |
Ingredients Operations | 339,865 |  |  | 135,189 |  |  | 24,543 |  |  | 30,606 |  |  | 10,344 |  |  | 531 |
Consolidated total | $ | 2,341,924 |  |  | $ | 2,120,921 |  |  | $ | 2,133,184 |  |  | $ | 367,482 |  |  | $ | 340,711 |  |  | $ | 368,110 |
| Goodwill, net |  | Intangibles, net
| March 31, |  | Fiscal Year Ended March 31,
| 2021 |  | 2020 |  | 2019 |  | 2021 |  | 2020 |  | 2019
Tobacco Operations | $ | 98,044 |  |  | $ | 97,963 |  |  | $ | 97,907 |  |  | $ | 82 |  |  | $ | 59 |  |  | $ | 87 |
Ingredients Operations | 75,007 |  |  | 28,863 |  |  | — |  |  | 72,222 |  |  | 17,802 |  |  | — |
Consolidated total | $ | 173,051 |  |  | $ | 126,826 |  |  | $ | 97,907 |  |  | $ | 72,304 |  |  | $ | 17,861 |  |  | $ | 87 |
| Capital Expenditures |  | Depreciation and Amortization
| Fiscal Year Ended March 31, |  | Fiscal Year Ended March 31,
| 2021 |  | 2020 |  | 2019 |  | 2021 |  | 2020 |  | 2019
Tobacco Operations | $ | 46,037 |  |  | $ | 35,175 |  |  | $ | 38,206 |  |  | $ | 33,895 |  |  | $ | 35,251 |  |  | $ | 35,449 |
Ingredients Operations | 20,117 |  |  | 52 |  |  | 554 |  |  | 10,838 |  |  | 3,128 |  |  | 1,655 |
Consolidated total | $ | 66,154 |  |  | $ | 35,227 |  |  | $ | 38,760 |  |  | $ | 44,733 |  |  | $ | 38,379 |  |  | $ | 37,104 |
(1)Equity in pretax earnings of unconsolidated affiliates is included in reportable segment operating income, but is reported below consolidated operating income and excluded from that total in the consolidated statements of income. (2)Restructuring and impairment costs are excluded from reportable segment operating income, but are included in consolidated operating income in the consolidated statements of income (see Note 4). (3)Other income represents the reversal of a portion of the contingent consideration liability associated with the acquisition of FruitSmart. See Note 2 for additional information. Geographic data as of, or for, the fiscal years ended March 31, 2021, 2020, and 2019, is presented below. Sales and other operating revenues are attributed to individual countries based on the final destination of the shipment. Long-lived assets generally consist of net property, plant, and equipment, goodwill, and other intangibles.
Geographic Data | Sales and Other Operating Revenues
| Fiscal Year Ended March 31,
| 2021 |  | 2020 |  | 2019
United States | $ | 369,074 |  |  | $ | 221,428 |  |  | $ | 227,771 |
Belgium | 366,476 |  |  | 361,889 |  |  | 390,433 |
Poland | 97,001 |  |  | 84,011 |  |  | 145,478 |
Germany | 94,519 |  |  | 104,525 |  |  | 166,397 |
Philippines | 94,493 |  |  | 68,143 |  |  | 69,820 |
China | 52,837 |  |  | 105,683 |  |  | 115,174 |
Mexico | 51,448 |  |  | 35,475 |  |  | 64,700 |
All other countries | 857,509 |  |  | 928,825 |  |  | 1,047,380 |
Consolidated total | $ | 1,983,357 |  |  | $ | 1,909,979 |  |  | $ | 2,227,153 |
| Long-Lived Assets
| March 31,
| 2021 |  | 2020 |  | 2019
United States | $ | 266,258 |  |  | $ | 145,764 |  |  | $ | 81,270 |
Brazil | 134,909 |  |  | 138,157 |  |  | 139,624 |
Mozambique | 44,206 |  |  | 42,964 |  |  | 45,051 |
All other countries | 149,492 |  |  | 132,955 |  |  | 134,543 |
Consolidated total | $ | 594,865 |  |  | $ | 459,840 |  |  | $ | 400,488 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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