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Consolidated Statements Of Income And Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Sales and other operating revenues $ 672,931 $ 505,049 $ 1,365,767 $ 1,277,885
Costs and expenses        
Cost of goods sold 533,431 412,076 1,103,744 1,030,233
Selling, general and administrative expenses 59,335 48,858 161,152 152,824
Other income [1] 0 0 4,173 0
Restructuring and impairment costs [2] 19,979 0 19,979 0
Operating income 60,186 44,115 85,065 94,828
Equity in pretax earnings (loss) of unconsolidated affiliates [3] 1,506 (69) 2,089 2,281
Other non-operating income (expense) 30 633 (8) 1,893
Interest income 2 164 262 1,412
Interest expense 6,735 5,197 19,140 14,361
Income before income taxes and other items 54,989 39,646 68,268 86,053
Income taxes 14,548 10,328 12,678 26,093
Net income 40,441 29,318 55,590 59,960
Less: net loss (income) attributable to noncontrolling interests in subsidiaries (7,168) (3,352) (7,541) (3,845)
Net income attributable to Universal Corporation $ 33,273 $ 25,966 $ 48,049 $ 56,115
Earnings per share:        
Basic $ 1.35 $ 1.04 $ 1.95 $ 2.24
Diluted $ 1.34 $ 1.04 $ 1.94 $ 2.23
Weighted average common shares outstanding:        
Basic 24,677,122 24,931,711 24,646,342 25,058,525
Diluted 24,818,918 25,055,054 24,764,439 25,178,517
Total comprehensive income (loss)        
Total comprehensive income, net of income taxes $ 55,681 $ 40,023 $ 84,950 $ 51,479
Less: comprehensive (income) loss attributable to noncontrolling interests (7,114) (3,491) (7,566) (3,983)
Comprehensive income (loss) attributable to Universal Corporation $ 48,567 $ 36,532 $ 77,384 $ 47,496
Dividends declared per common share $ 0.77 $ 0.76 $ 2.31 $ 2.28
[1] Other income represents the reversal of a portion of the contingent consideration liability associated with the acquisition of FruitSmart. See Note 3 for additional information.
[2] 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. See Note 4 for additional information.
[3] Equity in pretax earnings (loss) of unconsolidated affiliates is included in segment operating income (Tobacco Operations), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income and comprehensive income.