Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets And Liabilities Measured At Fair Value On Recurring Basis [Table Text Block]

At December 31, 2020 and 2019, and at March 31, 2020, the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy or the NAV practical expedient:

	December 31, 2020
			Fair Value Hierarchy
(in thousands of dollars)	NAV		Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	380	$	—	$	—	$	—	$	380
Trading securities associated with deferred compensation plans	—		15,703		—		—		15,703
Foreign currency exchange contracts	—		—		7,313		—		7,313
Total financial assets measured and reported at fair value	$	380	$	15,703	$	7,313	$	—	$	23,396
Liabilities
Acquisition-related contingent consideration obligations - long term	$	—	$	—	$	—	$	2,532	$	2,532
Interest rate swap agreements	—		—		33,950		—		33,950
Foreign currency exchange contracts	—		—		1,235		—		1,235
Total financial liabilities measured and reported at fair value	$	—	$	—	$	35,185	$	2,532	$	37,717

	December 31, 2019
			Fair Value Hierarchy
(in thousands of dollars)	NAV		Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	4,003	$	—	$	—	$	—	$	4,003
Trading securities associated with deferred compensation plans	—		16,410		—		—		16,410
Foreign currency exchange contracts	—		—		1,789		—		1,789
Total financial assets measured and reported at fair value	$	4,003	$	16,410	$	1,789	$	—	$	22,202
Liabilities
Guarantees of bank loans to tobacco growers	$	—	$	—	$	—	$	131	$	131
Interest rate swap agreements	—		—		15,978		—		15,978
Foreign currency exchange contracts	—		—		1,211		—		1,211
Total financial liabilities measured and reported at fair value	$	—	$	—	$	17,189	$	131	$	17,320

	March 31, 2020
			Fair Value Hierarchy
(in thousands of dollars)	NAV		Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	4,011	$	—	$	—	$	—	$	4,011
Trading securities associated with deferred compensation plans	—		12,635		—		—		12,635
Foreign currency exchange contracts	—		—		314		—		314
Total financial assets measured and reported at fair value	$	4,011	$	12,635	$	314	$	—	$	16,960
Liabilities
Guarantees of bank loans to tobacco growers	$	—	$	—	$	—	$	103	$	103
Acquisition-related contingent consideration obligations - short-term	—		—		—		4,173		4,173
Acquisition-related contingent consideration obligations - long-term	—		—		—		2,532		2,532
Interest rate swap agreements	—		—		37,163		—		37,163
Foreign currency exchange contracts	—		—		15,842		—		15,842
Total financial liabilities measured and reported at fair value	$	—	$	—	$	53,005	$	6,808	$	59,813

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

A reconciliation of the change in the balance of the acquisition-related contingent consideration obligation (Level 3) for the nine months ended December 31, 2020 and 2019 is provided below.

(in thousands of dollars)	Nine Months Ended December 31,
	2020		2019
Balance beginning of year	$	6,705	$	—
Change in fair value of contingent consideration liability	(4,173)		—
Balance at end of period	$	2,532	$	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

A reconciliation of the change in the balance of the financial liability for guarantees of bank loans to tobacco growers (Level 3) for the nine months ended December 31, 2020 and 2019 is provided below.

(in thousands of dollars)	Nine Months Ended December 31,
	2020		2019
Balance at beginning of year	$	103	$	803
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio)	(96)		(661)
Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans)	—		(5)
Change in discount rate and estimated collection period	(2)		(7)
Currency remeasurement	(5)		1
Balance at end of year	$	—	$	131

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The following table summarizes the fair and carrying value of the Company’s long-term debt, including the current portion at each of the balance sheet dates December 31, 2020, and 2019 and March 31, 2020:

(in millions of dollars)	December 31, 2020		December 31, 2019		March 31, 2020
Fair market value of long term obligations	$	516	$	370	$	370
Carrying value of long term obligations	$	520	$	370	$	370