Operating Segments

9 Months Ended

Dec. 31, 2011

Operating Segments [Abstract]

Operating Segments

NOTE 12. OPERATING SEGMENTS

The principal approach used by management to evaluate the Company's performance is by geographic region, although some components of the business are evaluated on the basis of their worldwide operations. The Company evaluates the performance of its segments based on operating income after allocated overhead expenses (excluding significant non-recurring charges or credits), plus equity in pretax earnings of unconsolidated affiliates.

Operating results for the Company's reportable segments for each period presented in the consolidated statements of income and retained earnings were as follows:

	Three Months Ended						Nine Months Ended
	December 31,						December 31,
(in thousands of dollars)	2011			2010			2011			2010
SALES AND OTHER OPERATING REVENUES
Flue-cured and burley leaf tobacco operations:
North America	$	109,743		$	124,072		$	236,101		$	243,990
Other regions (1)		529,476			506,568			1,423,275			1,468,326
Subtotal		639,219			630,640			1,659,376			1,712,316
Other tobacco operations (2)		33,201			57,568			133,535			178,996
Consolidated sales and other operating revenues	$	672,420		$	688,208		$	1,792,911		$	1,891,312
OPERATING INCOME
Flue-cured and burley leaf tobacco operations:
North America	$	13,234		$	26,693		$	23,864		$	42,383
Other regions (1)		69,382			47,620			146,732			138,530
Subtotal		82,616			74,313			170,596			180,913
Other tobacco operations (2)		814			3,466			4,044			15,492
Segment operating income		83,430			77,779			174,640			196,405
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates (3)		(1,072	)		1,439			2,264			(953	)
Restructuring and impairment costs (4)		(399	)		(10,995	)		(10,220	)		(13,964	)
Charge for (reversal of) European Commission fines in Italy and Spain (4)		—			—			(49,091	)		7,445
Add: Other income (4)		11,111			19,368			20,703			19,368
Consolidated operating income	$	93,070		$	87,591		$	138,296		$	208,301

(1) Includes South America, Africa, Europe, and Asia regions, as well as inter-region eliminations.

(2) 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.

(3) Item is included in segment operating income, but not included in consolidated operating income.

(4) Item is not included in segment operating income, but is included in consolidated operating income.