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Derivatives And Hedging Activities (Tables) | 6 Months Ended
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Sep. 30, 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 into for these purposes during the six-month periods in fiscal years 2022 and 2021 was as follows:
|  | Six Months Ended September 30,
(in millions of dollars) |  | 2021 |  | 2020
Tobacco purchases |  | $ | 99.7 |  |  | $ | 39.5 |
Processing costs |  | 18.7 |  |  | 10.5 |
Crop input sales |  | 20.8 |  |  | 23.5 |
Total |  | $ | 139.2 |  |  | $ | 73.5 |
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:
|  | Three Months Ended September 30, |  | Six Months Ended September 30,
(in thousands of dollars) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Cash Flow Hedges - Interest Rate Swap Agreements |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | (253) |  |  | $ | (276) |  |  | $ | (1,649) |  |  | $ | (3,973) |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | (2,257) |  |  | $ | (2,189) |  |  | $ | (4,480) |  |  | $ | (4,027) |
Gain on terminated interest rate swaps amortized from accumulated other comprehensive loss into earnings |  | $ | 355 |  |  | $ | 354 |  |  | $ | 708 |  |  | $ | 708 |
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 loan
Cash Flow Hedges - Foreign Currency Exchange Contracts |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | (5,234) |  |  | $ | (337) |  |  | $ | 2,999 |  |  | $ | (1,784) |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | 1,805 |  |  | $ | (6,479) |  |  | $ | 1,289 |  |  | $ | (7,213) |
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 |  | $ | (217) |  |  | $ | — |  |  | $ | 451 |  |  | $ | — |
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 - Foreign Currency Exchange Contracts |  |  |  |  |  |  |  |
Gain (loss) recognized in earnings |  | $ | (839) |  |  | $ | (272) |  |  | $ | 3,765 |  |  | $ | (416) |
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 September 30, 2021 and 2020, and March 31, 2021:
|  | Derivatives in a Fair Value Asset Position |  | Derivatives in a Fair Value Liability Position
|  | Balance Sheet Location |  | Fair Value as of |  | Balance Sheet Location |  | Fair Value as of
(in thousands of dollars) |  |  | September 30, 2021 |  | September 30, 2020 |  | March 31, 2021 |  |  | September 30, 2021 |  | September 30, 2020 |  | March 31, 2021
Derivatives Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | Other non-current assets |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | Other long-term liabilities |  | $ | 22,888 |  |  | $ | 37,109 |  |  | $ | 25,719 |
Foreign currency exchange contracts |  | Other current assets |  | 889 |  |  | 1 |  |  | 1,137 |  |  | Accounts payable and accrued expenses |  | 3,152 |  |  | 982 |  |  | 1,031 |
Total |  |  |  | $ | 889 |  |  | $ | 1 |  |  | $ | 1,137 |  |  |  |  | $ | 26,040 |  |  | $ | 38,091 |  |  | $ | 26,750 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | Other current assets |  | $ | 1,028 |  |  | $ | 290 |  |  | $ | 435 |  |  | Accounts payable and accrued expenses |  | $ | 639 |  |  | $ | 418 |  |  | $ | 791 |
Total |  |  |  | $ | 1,028 |  |  | $ | 290 |  |  | $ | 435 |  |  |  |  | $ | 639 |  |  | $ | 418 |  |  | $ | 791 |

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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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&loc=SL5579240-113959 + Details
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