Derivatives And Hedging Activities (Tables)

3 Months Ended

Jun. 30, 2011

Derivatives And Hedging Activities

Effect Of Derivative Financial Instruments On The Consolidated Statements Of Income

	Three Months Ended June 30,
(in thousands of dollars)	2011			2010
Fair Value Hedges - Interest Rate Swap Agreements
Derivative
Gain (loss) recognized in earnings	$	1,419		$	3,782
Location of gain (loss) recognized in earnings	Interest expense
Hedged Item
Description of hedged item	Fixed rate long-term debt
Gain (loss) recognized in earnings	$	(1,419	)	$	(3,782	)
Location of gain (loss) recognized in earnings	Interest expense
Cash Flow Hedges - Forward Foreign Currency Exchange Contracts
Derivative
Effective Portion of Hedge
Gain (loss) recorded in accumulated other comprehensive loss	$	3,447		$	(371	)
Gain (loss) reclassified from accumulated other comprehensive loss into earnings	$	438		$	(43	)
Location of gain (loss) reclassified from accumulated other
comprehensive loss into earnings	Cost of goods sold
Ineffective Portion and Early De-designation of Hedges
Gain (loss) recognized in earnings	$	796		$	99
Location of gain (loss) recognized in earnings	Selling, general and administrative expenses
Hedged Item
Description of hedged item	Forecast purchases of tobacco in Brazil
Derivatives Not Designated as Hedges - Forward Foreign Currency Exchange Contracts
Contracts related to forecast processing costs and forecast purchases of tobacco,
primarily in Brazil
Gain (loss) recognized in earnings	$	1,585		$	187
Location of gain (loss) recognized in earnings	Selling, general and administrative expenses
Contracts related to net local currency monetary assets and
liabilities of subsidiary in Brazil
Gain (loss) recognized in earnings	$	—		$	661
Location of gain (loss) recognized in earnings	Selling, general and administrative expenses
Contracts related to fixed-price orders and accounts receivable of non-U.S. dollar subsidiaries
Gain (loss) recognized in earnings	$	452		$	(744	)
Location of gain (loss) recognized in earnings	Selling, general and administrative expenses
Total gain (loss) recognized in earnings for forward foreign
currency exchange contracts not designated as hedges	$	2,037		$	104

Effect Of Derivative Financial Instruments On The Consolidated Balance Sheets

	Derivatives in a Fair Value Asset Position							Derivatives in a Fair Value Liability Position
	Balance	Fair Value as of						Balance	Fair Value as of
	Sheet	June 30,		June 30,		March 31,		Sheet	June 30,		June 30,		March 31,
(in thousands of dollars)	Location	2011		2010		2011		Location	2011		2010		2011
Derivatives Designated
as Hedging Instruments
Interest rate swap
agreements	Other
	non-current							Long-term
	assets	$	11,612	$	13,547	$	10,193	obligations	$	—	$	—	$	—
Forward foreign currency								Accounts
exchange contracts	Other							payable and
	current							accrued
	assets		758		157		2,400	expenses		—		5		—
Total		$	12,370	$	13,704	$	12,593		$	—	$	5	$	—
Derivatives Not Designated
as Hedging Instruments
Forward foreign currency								Accounts
exchange contracts	Other							payable and
	current							accrued
	assets	$	1,185	$	918	$	1,222	expenses	$	103	$	443	$	243
Total		$	1,185	$	918	$	1,222		$	103	$	443	$	243