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Restructuring and Related Activities | 9 Months Ended
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Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Impairment Costs Disclosure | RESTRUCTURING AND IMPAIRMENT COSTS Universal continually reviews its business for opportunities to realize efficiencies, reduce costs, and realign its operations in response to business changes. Restructuring and impairment costs are periodically incurred in connection with those activities. There were no restructuring and impairment costs incurred for the three and nine months ended December 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 three months ended December 31, 2021, the Company determined the carrying value exceeded the estimated fair value of those assets and recognized a $9.4 million impairment charge. During the nine months ended December 31, 2022, the Company entered into a sales agreement to sell all outstanding shares of common stock, which included all properties, of the idled companies in Tanzania. See Note 6 for additional information about the sale of the idled tobacco operations in Tanzania. During the three and nine months ended December 31, 2021, the Company also incurred $0.6 million and $2.2 million of termination costs for the Tobacco Operations segment, respectively. Ingredients Operations During the three and nine months ended December 31, 2021, the Company recognized net gains of $1.6 million and $1.2 million, respectively, for the sale of the remaining property, plant, and equipment associated with wind-down of Carolina Innovative Food Ingredients, Inc. (“CIFI”), a sweet potato processing operation located in Nashville, North Carolina that was announced in fiscal year 2021. A summary of the restructuring and impairment costs recorded for the three and nine months ended December 31, 2021 and were as follows:
|  | Three Months Ended December 31, |  |  | Nine Months Ended December 31,
(in thousands) |  |  | 2021 |  |  |  | 2021
Restructuring costs: |  |  |  |  |  |  |
Employee termination benefits |  |  | $ | 627 |  |  |  |  | $ | 2,174 |
Other |  |  | — |  |  |  |  | (24) |
Total restructuring costs |  |  | 627 |  |  |  |  | 2,150 |
Impairment costs: |  |  |  |  |  |  |
Property, plant and equipment |  |  | 7,806 |  |  |  |  | 8,307 |
Total impairment costs |  |  | 7,806 |  |  |  |  | 8,307 |
Total restructuring and impairment costs |  |  | $ | 8,433 |  |  |  |  | $ | 10,457 |

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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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