Restatement of Previously Reported Financial Information

9 Months Ended

Dec. 31, 2016

Accounting Changes and Error Corrections [Abstract]

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL INFORMATION

RESTATEMENT OF PREVIOUSLY REPORTED FINANCIAL INFORMATION

As described in Note 1, “Basis of Presentation and Significant Accounting Policies” to the “Notes to Condensed Consolidated Financial Statements,” the Company identified and corrected certain misstatements relating to prior years’ consolidated financial statements that impact the December 31, 2015 condensed consolidated financial statements. In addition, the Company adopted new accounting guidance related to the classification of debt issuance costs on a retrospective basis that also impacts the December 31, 2015 condensed consolidated financial statements. The impact of these changes on selected financial amounts within the accompanying condensed consolidated financial statements are summarized below:

	Condensed Consolidated Statements of Operations
	Three Months Ended December 31, 2015
(in thousands)	As Previously Reported		Inventory and Tax Adjustments			Reclassifications		Adoption of New Accounting Guidance		As Restated
Cost of goods and services sold	$	422,566	$	(165	)	$	—	$	—	$	422,401
Gross profit	68,573		165			—		—		68,738
Operating income	38,518		165			—		—		38,683
Income before income taxes and other items	10,906		165			—		—		11,071
Net income	11,520		165			—		—		11,685
Net income attributable to Alliance One International, Inc.	11,570		165			—		—		11,735

	Condensed Consolidated Statements of Operations
	Nine Months Ended December 31, 2015
(in thousands)	As Previously Reported			Inventory and Tax Adjustments			Reclassifications		Adoption of New Accounting Guidance		As Restated
Cost of goods and services sold	$	1,020,066		$	(801	)	$	—	$	—	$	1,019,265
Gross profit	152,208			801			—		—		153,009
Operating income	61,260			801			—		—		62,061
Income (loss) before income taxes and other items	(20,258		)	801			—		—		(19,457		)
Net loss	(36,196		)	801			—		—		(35,395		)
Net loss attributable to Alliance One International, Inc.	(36,081		)	801			—		—		(35,280		)

20. RESTATEMENT OF PREVIOUSLY REPORTED FINANCIAL INFORMATION (Continued)

	Condensed Consolidated Balance Sheet as of
	December 31, 2015
(in thousands)	As Previously Reported		Inventory and Tax Adjustments			Reclassifications		Adoption of New Accounting Guidance			As Restated
Total current assets	$	1,577,699	$	(2,403	)	$	11,808	$	—		$	1,587,104
Total non-current assets	155,144		—			—		(10,343		)	144,801
Total assets	1,961,629		(2,403		)	11,808		(10,343		)	1,960,691
Non-current liabilities	1,011,710		—			11,808		(10,343		)	1,013,175
Total equity	173,761		(2,403		)	—		—			171,358
Total liabilities and equity	1,961,629		(2,403		)	11,808		(10,343		)	1,960,691

Statement of Consolidated Stockholders' Equity
(in thousands)	As Previously Reported			Inventory and Tax Adjustments			Reclassifications		Adoption of New Accounting Guidance		As Restated
Retained Deficit at March 31, 2015	$	(208,184	)	$	(3,204	)	$	—	$	—	$	(211,388	)
Net loss	(36,081		)	801			—		—		(35,280		)
Retained Deficit at December 31, 2015	(244,265		)	(2,403		)	—		—		(246,668		)

	Consolidated Balance Sheet as of
	March 31, 2016
(in thousands)	As Previously Reported		Inventory and Tax Adjustments		Reclassifications		Adoption of New Accounting Guidance			As Restated
Total non-current assets	$	210,190	$	—	$	—	$	(9,875	)	$	200,315
Total assets	1,978,073		—		—		(9,875		)	1,968,198
Non-current liabilities	1,028,575		—		—		(9,875		)	1,018,700
Total liabilities and equity	1,978,073		—		—		(9,875		)	1,968,198