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Accumulated Other Comprehensive Income (Loss) | 9 Months Ended
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Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) attributable to the Company for the nine months ended December 31, 2020 and 2019:
|  | Nine Months Ended December 31,
(in thousands of dollars) |  | 2020 |  | 2019
Foreign currency translation: |  |  |  |
Balance at beginning of year |  | $ | (42,923) |  |  | $ | (40,101) |
Other comprehensive income (loss) attributable to Universal Corporation: |  |  |  |
Net gain (loss) on foreign currency translation |  | 13,232 |  |  | (960) |
Less: Net (gain) loss on foreign currency translation attributable to noncontrolling interests |  | 25 |  |  | 138 |
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes |  | 13,257 |  |  | (822) |
Balance at end of period |  | $ | (29,666) |  |  | $ | (40,923) |
Foreign currency hedge: |  |  |  |
Balance at beginning of year |  | $ | (12,226) |  |  | $ | (376) |
Other comprehensive income (loss) attributable to Universal Corporation: |  |  |  |
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(1,092) and $(235)) |  | 6,423 |  |  | 1,348 |
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $(1,914) and $54) (1) |  | 6,682 |  |  | (89) |
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes |  | 13,105 |  |  | 1,259 |
Balance at end of period |  | $ | 879 |  |  | $ | 883 |
Interest rate hedge: |  |  |  |
Balance at beginning of year |  | $ | (27,402) |  |  | $ | (934) |
Other comprehensive income (loss) attributable to Universal Corporation: |  |  |  |
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $634 and $2,196) |  | (2,386) |  |  | (8,262) |
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $(1,086) and $(175)) (2) |  | 4,086 |  |  | (1,681) |
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes |  | 1,700 |  |  | (9,943) |
Balance at end of period |  | $ | (25,702) |  |  | $ | (10,877) |
Pension and other postretirement benefit plans: |  |  |  |
Balance at beginning of year |  | $ | (69,046) |  |  | $ | (54,280) |
Other comprehensive income (loss) attributable to Universal Corporation: |  |  |  |
Amortization included in earnings (net of tax expense (benefit) of $(561) and $(304))(3) |  | 1,273 |  |  | 887 |
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes |  | 1,273 |  |  | 887 |
Balance at end of period |  | $ | (67,773) |  |  | $ | (53,393) |
Total accumulated other comprehensive loss at end of period |  | $ | (122,262) |  |  | $ | (104,310) |
(1) Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 11 for additional information. (2) Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the underlying debt, or as amortized to interest expense over the period to original maturity for terminated swap agreements. See Note 11 for additional information. (3) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 13 for additional information.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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