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Operating Segments
 12 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Operating Segments OPERATING SEGMENTS
Management regularly evaluates the Company’s global business activities, including product and service offerings to its customers, as well as senior management’s operational and financial responsibilities. Assessments include an analysis of how its
Chief Operating Decision Maker (“CODM”) measures business performance and allocates resources. As a result of this analysis, senior management has determined the Company conducts operations across two reportable operating segments, Tobacco Operations and Ingredients Operations.
The Tobacco Operations segment activities involve contracting, procuring, processing, packing, storing, and shipping leaf tobacco for sale to, or for the account of, manufacturers of consumer tobacco products throughout the world. Through various operating subsidiaries located in tobacco-growing countries around the world and significant ownership interests in unconsolidated affiliates, the Company processes and/or sells flue-cured and burley tobaccos, dark air-cured tobaccos, and oriental tobaccos. Flue-cured, burley, and oriental tobaccos are used principally in the manufacture of cigarettes, and dark air-cured tobaccos are used mainly in the manufacture of cigars, pipe tobacco, and smokeless tobacco products. Some of these tobacco types are also used in the manufacture of next generation tobacco products that are intended to provide consumers with an alternative to traditional combustible products. The Tobacco Operations segment also provides physical and chemical product testing for tobacco customers. A substantial portion of the Company’s Tobacco Operations’ revenues are derived from sales to a limited number of large, multinational cigarette and cigar manufacturers.
The Ingredients Operations segment provides its customers with a broad variety of plant-based ingredients for both human and pet consumption. The Ingredients Operations segment utilizes a variety of value-added manufacturing processes converting raw materials into a wide spectrum of fruit and vegetable juices, concentrates, dehydrated products, botanical extracts, and flavorings. Customers for the Ingredients Operations segment include large multinational food and beverage companies, smaller independent manufacturers, and retail organizations. FruitSmart, Inc. (“FruitSmart”), Silva International, Inc. (“Silva”), and Shank’s Extracts, LLC d/b/a Universal Ingredients–Shank’s (“Universal Ingredients–Shank’s”) are the primary operations for the Ingredients Operations segment. FruitSmart supplies a broad set of juices, concentrates, pomaces, purees, fruit fibers, seeds, seed powders, and other value-added products to food, beverage, and flavor companies throughout the United States and internationally. Silva procures dehydrated vegetables, fruits, and herbs from around the world and specializes in processing natural materials into custom designed dehydrated vegetable and fruit-based ingredients for a variety of end products. Universal Ingredients–Shank’s offers a diversified portfolio of botanical extracts, distillates, natural flavors, and color for industrial and private label customers worldwide, and is known for their significant vanilla expertise. Universal Ingredients–Shank’s is also equipped to offer customers custom bottling and packaging for their products.

Universal incurs corporate overhead expenses related to senior management, sales, finance, legal, and other functions that are centralized at its corporate headquarters, as well as functions performed at several sales and administrative offices around the world. These overhead expenses are currently allocated to the reportable operating segments, generally on the basis of projected annual financial and operational performance, including volumes planned to be purchased and/or processed. Management believes this method of allocation is currently representative of the value of the related services provided to the operating segments. The CODM, which has been identified as a group comprised of the Company’s Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, currently evaluates the performance of the operating segments based on operating income after allocated overhead expenses, plus equity in the pretax earnings of unconsolidated affiliates (“Segment Operating Income”). The CODM also uses Segment Operating Income for planning, forecasting, and allocating capital and other resources to the operating segments.
Reportable segment data as of, or for, the fiscal years ended March 31, 2025, 2024, and 2023, is as follows:
Fiscal Year Ended March 31, 2025Fiscal Year Ended March 31, 2024Fiscal Year Ended March 31, 2023
Tobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidated
Sales and other operating revenues$2,608,675 $338,609 $2,947,284 $2,438,775 $309,798 $2,748,573 $2,258,260 $311,564 $2,569,824 
Cost of goods sold(2,133,063)(265,564)(2,398,627)(1,975,955)(236,520)(2,212,475)(1,871,606)(239,933)(2,111,539)
Selling, general and administrative expenses(179,340)(48,610)(227,950)(179,569)(56,624)(236,193)(163,721)(49,557)(213,278)
Corporate overhead allocated to the segments(65,195)(12,142)(77,337)(61,655)(12,718)(74,373)(52,427)(11,508)(63,935)
Equity in pretax earnings (loss) of unconsolidated affiliates(1)
9,103 — 9,103 756 — 756 2,383 — 2,383 
Segment operating income240,180 12,293 252,473 222,352 3,936 226,288 172,889 10,566 183,455 
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates(1)
(9,103)(756)(2,383)
Restructuring and impairment costs (2)
(10,573)(3,523)— 
Consolidated operating income$232,797 $222,009 $181,072 
(1)Equity in pretax earnings of unconsolidated affiliates is included in reportable segment operating income, but is reported below consolidated operating income and excluded from that total in the consolidated statements of income.
(2)Restructuring and impairment costs are excluded from reportable segment operating income, but are included in consolidated operating income in the consolidated statements of income (see Note 3).

Segment AssetsAccounts Receivable, net
March 31,March 31,
202520242023202520242023
Tobacco Operations$2,436,416 $2,451,895 $2,164,600 $566,755 $472,357 $350,014 
Ingredients Operations553,136 485,344 474,582 59,121 52,905 52,059 
Consolidated total$2,989,552 $2,937,239 $2,639,182 $625,876 $525,262 $402,073 
Goodwill, netIntangibles, net
March 31,Fiscal Year Ended March 31,
202520242023202520242023
Tobacco Operations$97,772 $97,801 $97,854 $47 $62 $34 
Ingredients Operations
116,068 116,068 116,068 57,789 68,821 80,067 
Consolidated total$213,840 $213,869 $213,922 $57,836 $68,883 $80,101 
Capital ExpendituresDepreciation and Amortization
Fiscal Year Ended March 31,Fiscal Year Ended March 31,
202520242023202520242023
Tobacco Operations$35,387 $35,173 $38,084 $39,494 $40,267 $38,650 
Ingredients Operations27,214 30,840 16,590 20,279 18,059 18,650 
Consolidated total$62,601 $66,013 $54,674 $59,773 $58,326 $57,300 
Geographic data as of, or for, the fiscal years ended March 31, 2025, 2024, and 2023, is presented below. Sales and other operating revenues are attributed to individual countries based on the final destination of the shipment. Long-lived assets generally consist of net property, plant, and equipment, goodwill, and other intangibles.
Geographic DataSales and Other Operating Revenues
Fiscal Year Ended March 31,
202520242023
United States$622,325 $547,923 $530,467 
Belgium532,479 552,208 395,616 
China293,619 219,979 204,139 
Egypt143,527 18,892 19,465 
Philippines120,648 133,656 149,867 
Germany115,938 95,350 108,844 
Indonesia105,934 117,019 45,089 
Poland99,845 97,723 119,629 
Netherlands37,501 42,492 51,843 
Mexico29,073 26,438 51,847 
France22,999 16,669 64,563 
All other countries823,396 880,224 828,455 
Consolidated total$2,947,284 $2,748,573 $2,569,824 
Long-Lived Assets
March 31,
(in thousands)202520242023
United States$362,701 $355,905 $343,470 
Brazil139,497 139,642 134,232 
Mozambique39,415 35,845 38,979 
All other countries103,037 117,240 128,504 
Consolidated total$644,650 $648,632 $645,185