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Restructuring Costs | 12 Months Ended
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Mar. 31, 2023
Restructuring Costs [Abstract] |
Restructuring Costs | RESTRUCTURING AND IMPAIRMENT COSTS During the fiscal years ended March 31, 2022 and 2021, Universal recorded restructuring and impairment costs related to business changes and various initiatives to adjust certain operations and reduce costs. There were no restructuring costs incurred for the fiscal year ended March 31, 2023. Fiscal Year Ended March 31, 2022 Tobacco Operations As a result of efforts to exit the idled tobacco operations in Tanzania, the Company reevaluated the carrying values of property, plant, and equipment associated with the Tanzania operations. During the fiscal year ended March 31, 2022, the Company determined the carrying value exceeded the estimated fair value of those assets and recognized a $9.4 million impairment charge. During the fiscal year ended March 31, 2023, the Company sold all outstanding common stock, which included all properties, of the idled companies in Tanzania. During the fiscal year ended March 31, 2022, the Company also incurred $2.2 million of termination costs for the Tobacco Operations segment. Ingredients Operations During the fiscal year ended March 31, 2022, the Company recognized $1.2 million of net gains on the sale of the remaining property, plant, and equipment associated with the wind-down of the CIFI operations that was announced in fiscal year 2021. Fiscal Year Ended March 31, 2021 Tobacco Operations During the fiscal year ended March 31, 2021, the Company incurred $4.4 million of termination and impairment costs associated with the restructuring of tobacco buying and administrative operations in Africa, $1.2 million of combined termination costs in other regions, and a $0.9 million charge for the liquidation of an idled service entity in Tanzania. Total restructuring and impairments costs related to the Tobacco Operations segment were $6.5 million for the fiscal year ended March 31, 2021. Ingredients Operations In fiscal year 2021, the Company committed to a plan to wind-down its subsidiary, Carolina Innovative Food Ingredients, Inc. (“CIFI”), a sweet potato processing operation located in Nashville, North Carolina. The CIFI operation was a start-up project initially undertaken by the Company in fiscal year 2015. The decision to wind down CIFI was consistent with the Company’s capital allocation strategy to focus on delivering shareholder value through building and enhancing a plant-based ingredients platform, which includes integrating and exploring the synergies of acquired businesses, FruitSmart and Silva. The Company determined that CIFI was not a strategic fit for the platform’s long-term objectives. CIFI’s single-product focused processing facility and ongoing international pricing pressures, among other factors, created challenges that proved insurmountable. As a result of the decision to wind down the CIFI operations, the Company paid termination benefits totaling approximately $0.6 million to employees whose permanent positions were eliminated. In addition to the termination costs, the Company recognized various other costs associated with the wind-down of the CIFI facility. These costs include impairments of property, plant, and equipment (including the factory building), as well as inventory and supply write-downs. The total restructuring and impairment charge incurred for the CIFI wind-down was $16.1 million for the fiscal year ended March 31, 2021. A summary of the restructuring and impairment costs incurred during the fiscal years ended March 31, 2022 and 2021 is as follows:
|  |  |  | Fiscal Years Ended March 31,
|  |  |  | 2022 |  | 2021
Restructuring Costs: |  |  |  |  |  |
Employee termination benefits |  |  |  | $ | 2,174 |  |  | $ | 5,237 |
Other restructuring costs |  |  |  | (24) |  |  | 3,468 |
|  |  |  | 2,150 |  |  | 8,705 |
Impairment Costs: |  |  |  |  |  |
Property, plant, and equipment and other noncurrent assets |  |  |  | 8,307 |  |  | 13,872 |
Total restructuring and impairment costs |  |  |  | $ | 10,457 |  |  | $ | 22,577 |
A reconciliation of the Company’s liability for employee termination benefits and other restructuring costs for fiscal years 2021 through 2022 is as follows:
|  | Employee Termination Benefits |  | Other Costs |  | Total
Balance at April 1, 2020 |  | $ | 3,415 |  |  | $ | — |  |  | $ | 3,415 |
Fiscal Year 2021 Activity: |  |  |  |  |  |
Costs charged to expense |  | 5,237 |  |  | 3,468 |  |  | 8,705 |
Payments and write-offs |  | (7,282) |  |  | (2,855) |  |  | (10,137) |
Balance at March 31, 2021 |  | 1,370 |  |  | 613 |  |  | 1,983 |
Fiscal Year 2022 Activity: |  |  |  |  |  |
Costs charged to expense |  | 2,174 |  |  | (24) |  |  | 2,150 |
Payments and write-offs |  | (3,544) |  |  | (589) |  |  | (4,133) |
Balance at March 31, 2022 |  | $ | — |  |  | $ | — |  |  | $ | — |
Universal continually reviews its business for opportunities to realize efficiencies, reduce costs, and realign its operations in response to business changes. The Company may incur additional restructuring and impairment costs in future periods as business changes occur and additional cost savings initiatives are implemented.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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