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Derivatives And Hedging Activities (Tables) | 3 Months Ended
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Jun. 30, 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 into for these purposes during the three-month periods in fiscal years 2025 and 2024 was as follows:
|  | Three Months Ended June 30,
(in millions of dollars) |  | 2024 |  | 2023
Tobacco purchases |  | $ | 97.0 |  |  | $ | 30.3 |
Processing costs |  | 15.2 |  |  | 4.9 |
Total |  | $ | 112.2 |  |  | $ | 35.2 |
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 June 30,
(in thousands of dollars) |  |  |  |  |  | 2024 |  | 2023
Cash Flow Hedges - Interest Rate Swap Agreements |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  |  |  |  |  | $ | 2,623 |  |  | $ | 10,096 |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  |  |  |  |  | $ | 1,475 |  |  | $ | 1,209 |
Gain on terminated interest rate swaps amortized from accumulated other comprehensive loss into earnings |  |  |  |  |  | $ | 689 |  |  | $ | 1,570 |
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 - Foreign Currency Exchange Contracts |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Effective Portion of Hedge |  |  |  |  |  |  |  |
Gain (loss) recorded in accumulated other comprehensive loss |  |  |  |  |  | $ | (5,237) |  |  | $ | 2,080 |
Gain (loss) reclassified from accumulated other comprehensive loss into earnings |  |  |  |  |  | $ | 592 |  |  | $ | 806 |
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 |  |  |  |  |  | $ | — |  |  | $ | 1,910 |
Location of gain (loss) recognized in earnings |  |  |  |  |  | Selling, general and administrative expenses
Hedged Item |  |  |  |  |  |  |  |
Description of hedged item |  |  |  |  |  | Forecast purchases of tobacco in Brazil
Derivatives Not Designated as Hedges - Foreign Currency Exchange Contracts |  |  |  |  |  |  |  |
Gain (loss) recognized in earnings |  |  |  |  |  | $ | 1,763 |  |  | $ | (2,486) |
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 June 30, 2024 and 2023, and March 31, 2024:
|  | 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) |  |  | June 30, 2024 |  | June 30, 2023 |  | March 31, 2024 |  |  | June 30, 2024 |  | June 30, 2023 |  | March 31, 2024
Derivatives Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  | Other non-current assets |  | $ | 7,854 |  |  | $ | 5,810 |  |  | $ | 6,706 |  |  | Other long-term liabilities |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign currency exchange contracts |  | Other current assets |  | 861 |  |  | 2,227 |  |  | 77 |  |  | Accounts payable and accrued expenses |  | 6,341 |  |  | 1,674 |  |  | 9 |
Total |  |  |  | $ | 8,715 |  |  | $ | 8,037 |  |  | $ | 6,783 |  |  |  |  | $ | 6,341 |  |  | $ | 1,674 |  |  | $ | 9 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | Other current assets |  | $ | 2,268 |  |  | $ | 787 |  |  | $ | 245 |  |  | Accounts payable and accrued expenses |  | $ | 1,027 |  |  | $ | 2,841 |  |  | $ | 12 |
Total |  |  |  | $ | 2,268 |  |  | $ | 787 |  |  | $ | 245 |  |  |  |  | $ | 1,027 |  |  | $ | 2,841 |  |  | $ | 12 |

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