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Consolidated Statements Of Income And Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Sales and other operating revenues $ 456,942 $ 456,382 $ 752,417 $ 731,801
Costs and Expenses        
Cost of goods sold 369,098 358,288 612,376 585,318
Selling, general and administrative expenses 40,834 60,810 101,033 112,106
Restructuring and impairment costs [1] 3,682 0 3,682 2,389
Operating income 43,328 37,284 35,326 31,988
Equity in pretax earnings of unconsolidated affiliates [2] 1,260 846 1,130 230
Interest income 271 205 634 444
Interest expense 4,335 3,912 8,389 7,796
Income before income taxes 40,524 34,423 28,701 24,866
Income tax expense 14,026 9,359 9,707 5,927
Net income 26,498 25,064 18,994 18,939
Less: net (income) loss attributable to noncontrolling interests in subsidiaries (1,234) (2,599) 794 (2,421)
Net income attributable to Universal Corporation 25,264 22,465 19,788 16,518
Dividends on Universal Corporation convertible perpetual preferred stock (3,687) (3,687) (7,374) (7,374)
Earnings available to Universal Corporation common shareholders $ 21,577 $ 18,778 $ 12,414 $ 9,144
Earnings per share attributable to Universal Corporation common shareholders:        
Basic $ 0.95 $ 0.83 $ 0.55 $ 0.40
Diluted $ 0.90 $ 0.81 $ 0.54 $ 0.40
Weighted average common shares outstanding:        
Basic 22,777,394 22,675,323 22,755,927 22,649,270
Diluted 27,968,156 27,850,628 23,073,341 22,936,631
Total comprehensive income:        
Total comprehensive income, net of income taxes $ 29,651 $ 19,470 $ 17,321 $ 21,850
Less: comprehensive (income) loss attributable to noncontrolling interests, net of income taxes (1,007) (2,259) 1,238 (1,995)
Comprehensive income attributable to Universal Corporation, net of income taxes $ 28,644 $ 17,211 $ 18,559 $ 19,855
Dividends declared per common share $ 0.53 $ 0.52 $ 1.06 $ 1.04
[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.