Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Jun. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) attributable to the Company for the three months ended June 30, 2021 and 2020:

	Three Months Ended June 30,
(in thousands of dollars)	2021		2020
Foreign currency translation:
Balance at beginning of year	$	(35,135)	$	(42,923)
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on foreign currency translation	1,719		2,303
Less: Net (gain) loss on foreign currency translation attributable to noncontrolling interests	(29)		(156)
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes	1,690		2,147
Balance at end of period	$	(33,445)	$	(40,776)
Foreign currency hedge:
Balance at beginning of year	$	(414)	$	(12,226)
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(1,566) and $255)	5,698		(601)
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $(108) and $(152)) (1)	284		560
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes	5,982		(41)
Balance at end of period	$	5,568	$	(12,267)
Interest rate hedge:
Balance at beginning of year	$	(19,480)	$	(27,402)
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $293 and $776)	(1,103)		(2,921)
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $(392) and $(312)) (2)	1,477		1,172
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes	374		(1,749)
Balance at end of period	$	(19,106)	$	(29,151)
Pension and other postretirement benefit plans:
Balance at beginning of year	$	(52,008)	$	(69,046)
Other comprehensive income (loss) attributable to Universal Corporation:
Amortization included in earnings (net of tax expense (benefit) of $(175) and $(193))(3)	759		108
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes	759		108
Balance at end of period	$	(51,249)	$	(68,938)
Total accumulated other comprehensive loss at end of period	$	(98,232)	$	(151,132)

(1)     Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco and crop input sales is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 11 for additional information.

(2) Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the underlying debt, or as amortized to interest expense over the period to original maturity for terminated swap agreements. See Note 11 for additional information.

(3)     This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 13 for additional information.