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Derivatives And Hedging Activities (Tables) | 12 Months Ended
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Mar. 31, 2024
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 for these purposes during fiscal years 2024, 2023, and 2022 was as follows:
|  | Fiscal Year Ended March 31,
(in millions) |  | 2024 |  | 2023 |  | 2022
Tobacco purchases |  | $ | 30.3 |  |  | $ | 47.1 |  |  | $ | 134.7 |
Processing costs |  | 4.9 |  |  | 9.7 |  |  | 32.5 |
Crop input sales |  | 30.1 |  |  | 35.2 |  |  | 65.3 |
Total |  | $ | 65.3 |  |  | $ | 92.0 |  |  | $ | 232.5 |
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 for the fiscal years ended March 31, 2024, 2023, and 2022.
|  | Fiscal Year Ended March 31,
|  | 2024 |  | 2023 |  | 2022
Cash Flow Hedges - Interest Rate Swap Agreements |  |  |  |  |  |
Derivative |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | 15,375 |  |  | $ | 9,804 |  |  | $ | 15,651 |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | 5,592 |  |  | $ | (66) |  |  | $ | (8,907) |
Gain on terminated interest rate swaps amortized from accumulated other comprehensive loss into earnings |  | $ | 5,397 |  |  | $ | 1,570 |  |  | $ | 1,061 |
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 loans
Cash Flow Hedges - Forward Foreign Currency Exchange Contracts |  |  |  |  |  |
Derivative |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  | $ | 2,088 |  |  | $ | 5,274 |  |  | $ | 13,879 |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  | $ | 7,996 |  |  | $ | 4,469 |  |  | $ | 5,426 |
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 |  | $ | 1,138 |  |  | $ | (520) |  |  | $ | 2,040 |
Location of gain (loss) recognized in earnings |  | Selling, general and administrative expenses
Hedged Item |  |  |  |  |  |
Description of hedged item |  | Forecast purchases of tobacco and sales of crop inputs in Brazil and Africa
Derivatives Not Designated as Hedges - Forward Foreign Currency Exchange Contracts |  |  |  |  |  |
Gain (loss) recognized in earnings |  | $ | (3,484) |  |  | $ | (4,811) |  |  | $ | 16,732 |
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 March 31, 2024 and 2023:
|  | Derivatives in a Fair Value Asset Position |  | Derivatives in a Fair Value Liability Position
|  | Balance Sheet Location |  | Fair Value as of March 31, |  | Balance Sheet Location |  | Fair Value as of March 31,
|  |  | 2024 |  | 2023 |  |  | 2024 |  | 2023
Derivatives Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | Other non-current assets |  | $ | 6,706 |  |  | $ | — |  |  | Other long-term liabilities |  | $ | — |  |  | $ | 3,077 |
Forward foreign currency exchange contracts |  | Other current assets |  | 77 |  |  | 7,102 |  |  | Accounts payable and accrued expenses |  | 9 |  |  | 890 |
Total |  |  |  | $ | 6,783 |  |  | $ | 7,102 |  |  |  |  | $ | 9 |  |  | $ | 3,967 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | Other current assets |  | $ | 245 |  |  | $ | 1,320 |  |  | Accounts payable and accrued expenses |  | $ | 12 |  |  | $ | 435 |
Total |  |  |  | $ | 245 |  |  | $ | 1,320 |  |  |  |  | $ | 12 |  |  | $ | 435 |
Substantially all of the Company's forward foreign currency exchange contracts are subject to master netting arrangements, whereby the right to offset occurs in the event of default by a participating party. The Company has elected to present these contracts on a gross basis in the consolidated balance sheets.

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