XML 59 R2.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements Of Income And Retained Earnings (USD $)
In Thousands, except Per Share data
3 Months Ended6 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Consolidated Statements Of Income And Retained Earnings [Abstract]    
Sales and other operating revenues$ 641,026[1]$ 664,188[1]$ 1,120,491[1]$ 1,203,104[1]
Costs and expenses    
Cost of goods sold521,600530,914906,707967,593
Selling, general and administrative expenses57,66059,094119,238119,277
Other income  (9,592)[2] 
Restructuring costs2,962[2]2,020[2]9,821[2]2,969[2]
Charge for (reversal of) European Commission fines in Italy and Spain49,091[2](7,445)[2]49,091[2](7,445)[2]
Operating income9,71379,60545,226120,710
Equity in pretax earnings (loss) of unconsolidated affiliates153[3]2,014[3](3,336)[3]2,392[3]
Interest income3641,4167211,860
Interest expense5,6655,86211,19810,988
Income before income taxes and other items4,56577,17331,413113,974
Income taxes12,56223,39022,08835,773
Net income (loss)(7,997)53,7839,32578,201
Less: net (income) loss attributable to noncontrolling interests in subsidiaries(42)(1,952)(1,476)(1,050)
Net income (loss) attributable to Universal Corporation(8,039)51,8317,84977,151
Series B 6.75% Convertible Perpetual Preferred Stock(3,713)(3,713)(7,425)(7,425)
Earnings (loss) available to Universal Corporation common shareholders(11,752)48,11842469,726
Earnings (loss) per share attributable to Universal Corporation common shareholders:    
Basic$ (0.51)$ 2.00$ 0.02$ 2.89
Diluted$ (0.51)$ 1.78$ 0.02$ 2.65
Retained earnings - beginning of year  825,751767,213
Net income attributable to Universal Corporation(8,039)51,8317,84977,151
Cash dividends declared:    
Series B 6.75% Convertible Perpetual Preferred Stock(3,713)(3,713)(7,425)(7,425)
Common stock (2011 - $0.96 per share; 2010 - $0.94 per share)  (22,338)(22,583)
Repurchase of common stock - cost in excess of stated capital amount  (2,827)(15,885)
Dividend equivalents on restricted stock units  (247)(202)
Retained earnings - end of period$ 800,763$ 798,269$ 800,763$ 798,269
[1] 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 its financial results consist principally of equity in the pretax earnings of an unconsolidated affiliate.
[2] Item is not included in segment operating income, but is included in consolidated operating income.
[3] Item is included in segment operating income, but not included in consolidated operating income.