Operating Segments (Tables)

9 Months Ended

Dec. 31, 2016

Operating Results For The Company's Reportable Segments

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



	Three Months Ended December 31,						Nine Months Ended December 31,
(in thousands of dollars)	2016			2015			2016			2015

SALES AND OTHER OPERATING REVENUES
Flue-Cured and Burley Leaf Tobacco Operations:
North America	$	93,198		$	81,463		$	246,669		$	179,456
Other Regions⁽¹⁾	495,982			460,729			992,574			1,009,162
Subtotal	589,180			542,192			1,239,243			1,188,618
Other Tobacco Operations⁽²⁾	79,591			42,400			181,945			127,775
Consolidated sales and other operating revenues	$	668,771		$	584,592		$	1,421,188		$	1,316,393

OPERATING INCOME
Flue-Cured and Burley Leaf Tobacco Operations:
North America	$	1,025		$	5,750		$	21,404		$	12,949
Other Regions⁽¹⁾	81,074			61,318			96,399			87,673
Subtotal	82,099			67,068			117,803			100,622
Other Tobacco Operations⁽²⁾	5,781			1,083			10,215			2,136
Segment operating income	87,880			68,151			128,018			102,758
Deduct: Equity in pretax earnings of unconsolidated affiliates ⁽³⁾	(4,495		)	(2,326		)	(5,625		)	(2,556		)
Restructuring and impairment costs ⁽⁴⁾	(178		)	—			(3,860		)	(2,389		)
Add: Other income ⁽⁵⁾	—			3,390			—			3,390
Consolidated operating income	$	83,207		$	69,215		$	118,533		$	101,203


⁽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⁾	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.


⁽⁴⁾	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.

⁽⁵⁾

Other income represents a gain from remeasuring to fair value the Company's original 50% ownership interest in Procesadora Unitab, S.A., a tobacco processing joint venture in Guatemala, upon acquiring the 50% interest held by the Company's joint venture partner. This item is excluded from segment operating income, but is included in consolidated operating income in the consolidated statements of income and comprehensive income.