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 and comprehensive income were as follows:



	Three Months Ended December 31,						Nine Months Ended December 31,
(in thousands of dollars)	2018			2017			2018			2017

SALES AND OTHER OPERATING REVENUES
Flue-Cured and Burley Leaf Tobacco Operations:
North America	$	78,009		$	99,452		$	261,347		$	211,444
Other Regions ⁽¹⁾	483,161			474,351			1,089,180			1,039,927
Subtotal	561,170			573,803			1,350,527			1,251,371
Other Tobacco Operations ⁽²⁾	74,937			79,778			204,903			175,080
Consolidated sales and other operating revenue	$	636,107		$	653,581		$	1,555,430		$	1,426,451

OPERATING INCOME
Flue-Cured and Burley Leaf Tobacco Operations:
North America	$	3,147		$	3,588		$	20,395		$	13,784
Other Regions ⁽¹⁾	53,283			56,895			96,828			98,225
Subtotal	56,430			60,483			117,223			112,009
Other Tobacco Operations ⁽²⁾	6,210			5,422			8,081			5,310
Segment operating income	62,640			65,905			125,304			117,319
Deduct: Equity in pretax earnings of unconsolidated affiliates ⁽³⁾	(5,512		)	(6,404		)	(5,437		)	(6,636		)
Restructuring and impairment costs ⁽⁴⁾	(19,447		)	—			(19,447		)	—
Consolidated operating income	$	37,681		$	59,501		$	100,420		$	110,683


⁽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 the business is accounted for on the equity method and 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.