Equity Method Investments |
Equity Method Investments The following summarizes the Company's equity method investments as of September 30, 2021:
| | | | | | | | | | | | | | | | Location | Primary Purpose | The Company's Ownership Percentage | Basis Difference (1) | Adams International Ltd. | Thailand | purchase and process tobacco | 49 | % | $ | (4,526) | | Alliance One Industries India Private Ltd. | India | purchase and process tobacco | 49 | % | (5,770) | | China Brasil Tobacos Exportadora SA | Brazil | purchase and process tobacco | 49 | % | 46,326 | | Oryantal Tütün Paketleme Sanayi ve Ticaret A.Ş. | Turkey | process tobacco | 50 | % | (416) | | Purilum, LLC | U.S. | produce flavor formulations and consumable e-liquids | 50 | % | 4,589 | | Siam Tobacco Export Company | Thailand | purchase and process tobacco | 49 | % | (6,098) | |
(1) The basis difference for the Company's equity method investments is primarily due to $30,531 of fair value adjustments from fresh start reporting that were recorded in the fiscal year-ended March 31, 2021.
The following summarizes financial information for these equity method investments:
| | | | | | | | | | | | | Successor | Predecessor | | Three months ended September 30, 2021 | One month ended September 30, 2020 | Two months ended August 31, 2020 | Operations statement: | | | | Sales | $ | 32,513 | | $ | 13,006 | | $ | 31,841 | | Gross profit | 2,448 | | 2,248 | | 7,202 | | Net income | 3,206 | | 738 | | 3,560 | | Company's dividends received | 18 | | — | | 40 | |
| | | | | | | | | | | | | Successor | Predecessor | | Six months ended September 30, 2021 | One month ended September 30, 2020 | Five months ended August 31, 2020 | Operations statement: | | | | Sales | $ | 63,945 | | $ | 13,006 | | $ | 67,553 | | Gross profit | 6,114 | | 2,248 | | 14,151 | | Net income | 306 | | 738 | | 5,869 | | Company's dividends received | 8,866 | | — | | 5,104 | |
| | | | | | | | | | | | | Successor | | September 30, 2021 | September 30, 2020 | March 31, 2021 | Balance sheet: | | | | Current assets | $ | 280,561 | | $ | 246,852 | | $ | 224,106 | | Property, plant, and equipment and other assets | 43,675 | | 42,544 | | 43,648 | | Current liabilities | 214,321 | | 185,187 | | 138,833 | | Long-term obligations and other liabilities | 3,144 | | 4,185 | | 3,937 | |
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