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Consolidated Statements Of Income And Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Sales and other operating revenues $ 456,382 $ 464,116 $ 731,801 $ 735,588
Costs and Expenses        
Cost of goods sold 358,288 379,045 585,318 594,977
Selling, general and administrative expenses 60,810 59,809 112,106 123,586
Restructuring and impairment costs [1] 0 3,350 2,389 3,350
Operating income 37,284 21,912 31,988 13,675
Equity in pretax earnings (loss) of unconsolidated affiliates [2] 846 3,317 230 3,918
Interest income 205 67 444 210
Interest expense 3,912 4,852 7,796 8,872
Income before income taxes 34,423 20,444 24,866 8,931
Income tax expense (benefit) 9,359 4,960 5,927 (7,078)
Net income 25,064 15,484 18,939 16,009
Less: net income attributable to noncontrolling interests in subsidiaries (2,599) (459) (2,421) (267)
Net income attributable to Universal Corporation 22,465 15,025 16,518 15,742
Dividends on Universal Corporation convertible perpetual preferred stock (3,687) (3,713) (7,374) (7,425)
Earnings available to Universal Corporation common shareholders $ 18,778 $ 11,312 $ 9,144 $ 8,317
Earnings per share attributable to Universal Corporation common shareholders:        
Basic $ 0.83 $ 0.49 $ 0.40 $ 0.36
Diluted $ 0.81 $ 0.48 $ 0.40 $ 0.35
Weighted average common shares outstanding:        
Basic 22,675,323 23,178,082 22,649,270 23,200,589
Diluted 27,850,628 23,508,527 22,936,631 23,521,571
Total comprehensive income:        
Total comprehensive income, net of income taxes $ 19,470 $ 4,954 $ 21,850 $ 6,303
Less: comprehensive (income) loss attributable to noncontrolling interests, net of income taxes (2,259) (178) (1,995) (230)
Comprehensive income attributable to Universal Corporation, net of income taxes $ 17,211 $ 4,776 $ 19,855 $ 6,073
Dividends declared per common share $ 0.52 $ 0.51 $ 1.04 $ 1.02
[1] Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income.
[2] Equity in pretax earnings of unconsolidated affiliates is included in segment operating income (Other Tobacco Operations segment), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income and comprehensive income.