Operating Segments

6 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Operating Segments

OPERATING SEGMENTS

The principal approach used by management to evaluate the Company’s performance is by geographic region, although the dark air-cured and oriental tobacco businesses are each evaluated on the basis of their worldwide operations. The Company evaluates the performance of its segments based on operating income after allocated overhead expenses (excluding significant non-recurring charges or credits), plus equity in the pretax earnings of unconsolidated affiliates.

Operating results for the Company’s reportable segments for each period presented in the consolidated statements of income were as follows:

	Three Months Ended September 30,						Six Months Ended September 30,
(in thousands of dollars)	2013			2012			2013			2012
SALES AND OTHER OPERATING REVENUES
Flue-cured and burley leaf tobacco operations:
North America	$	80,967		$	59,370		$	145,118		$	119,856
Other regions (1)	530,610			571,981			826,870			909,514
Subtotal	611,577			631,351			971,988			1,029,370
Other tobacco operations (2)	39,292			43,836			112,409			107,208
Consolidated sales and other operating revenues	$	650,869		$	675,187		$	1,084,397		$	1,136,578
OPERATING INCOME
Flue-cured and burley leaf tobacco operations:
North America	$	8,539		$	3,551		$	10,894		$	4,529
Other regions (1)	42,454			73,935			37,270			108,776
Subtotal	50,993			77,486			48,164			113,305
Other tobacco operations (2)	(1,699		)	968			7,508			9,345
Segment operating income	49,294			78,454			55,672			122,650
Deduct: Equity in pretax loss (earnings) of unconsolidated affiliates (3)	1,563			320			34			(1,049		)
Restructuring costs(4)	(1,308		)	(3,687		)	(1,308		)	(3,687		)
Add: Other income(4)	—			—			81,619			—
Consolidated operating income	$	49,549		$	75,087		$	136,017		$	117,914

⁽¹⁾  Includes South America, Africa, Europe, and Asia regions, as well as inter-region eliminations.

⁽²⁾  Includes Dark Air-Cured, Special Services, and Oriental, as well as inter-company eliminations. Sales and other operating revenues for this reportable segment include limited amounts for Oriental because its financial results consist principally of equity in the pretax earnings of an unconsolidated affiliate.

⁽³⁾  Item is included in segment operating income, but is not included in consolidated operating income.

⁽⁴⁾  Item is not included in segment operating income, but is included in consolidated operating income.