Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2020

Financial Assets And Liabilities Measured At Fair Value On Recurring Basis [Table Text Block]

At September 30, 2020 and 2019, and at March 31, 2020, the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy or the NAV practical expedient:


	September 30, 2020
			Fair Value Hierarchy
(in thousands of dollars)	NAV		Level 1		Level 2		Level 3		Total

Assets
Money market funds	$	1,991	$	—	$	—	$	—	$	1,991
Trading securities associated with deferred compensation plans	—		14,495		—		—		14,495

Foreign currency exchange contracts	—		—		291		—		291
Total financial assets measured and reported at fair value	$	1,991	$	14,495	$	291	$	—	$	16,777

Liabilities


Acquisition-related contingent consideration obligations - long term	$	—	$	—	$	—	$	2,532	$	2,532
Interest rate swap agreements	—		—		37,109		—		37,109
Foreign currency exchange contracts	—		—		1,400		—		1,400
Total financial liabilities measured and reported at fair value	$	—	$	—	$	38,509	$	2,532	$	41,041


	September 30, 2019
			Fair Value Hierarchy
(in thousands of dollars)	NAV		Level 1		Level 2		Level 3		Total

Assets
Money market funds	$	2,032	$	—	$	—	$	—	$	2,032
Trading securities associated with deferred compensation plans	—		16,100		—		—		16,100

Foreign currency exchange contracts	—		—		45		—		45
Total financial assets measured and reported at fair value	$	2,032	$	16,100	$	45	$	—	$	18,177

Liabilities
Guarantees of bank loans to tobacco growers	$	—	$	—	$	—	$	137	$	137


Interest rate swap agreements	—		—		21,381		—		21,381
Foreign currency exchange contracts	—		—		1,293		—		1,293
Total financial liabilities measured and reported at fair value	$	—	$	—	$	22,674	$	137	$	22,811


	March 31, 2020
			Fair Value Hierarchy
(in thousands of dollars)	NAV		Level 1		Level 2		Level 3		Total

Assets
Money market funds	$	4,011	$	—	$	—	$	—	$	4,011
Trading securities associated with deferred compensation plans	—		12,635		—		—		12,635

Foreign currency exchange contracts	—		—		314		—		314
Total financial assets measured and reported at fair value	$	4,011	$	12,635	$	314	$	—	$	16,960

Liabilities
Guarantees of bank loans to tobacco growers	$	—	$	—	$	—	$	103	$	103
Acquisition-related contingent consideration obligations - short-term	—		—		—		4,173		4,173
Acquisition-related contingent consideration obligations - long-term	—		—		—		2,532		2,532
Interest rate swap agreements	—		—		37,163		—		37,163
Foreign currency exchange contracts	—		—		15,842		—		15,842
Total financial liabilities measured and reported at fair value	$	—	$	—	$	53,005	$	6,808	$	59,813

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

A reconciliation of the change in the balance of the acquisition-related contingent consideration obligation (Level 3) for the six months ended September 30, 2020 and 2019 is provided below.


(in thousands of dollars)	Six Months Ended September 30,
	2020		2019
Balance beginning of year	$	6,705	$	—


Change in fair value of contingent consideration liability	(4,173)		—
Balance at end of period	$	2,532	$	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

A reconciliation of the change in the balance of the financial liability for guarantees of bank loans to tobacco growers (Level 3) for the six months ended September 30, 2020 and 2019 is provided below.


(in thousands of dollars)	Six Months Ended September 30,
	2020		2019
Balance at beginning of year	$	103	$	803
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio)	(96)		(651)
Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans)	—		(5)
Change in discount rate and estimated collection period	(2)		(7)
Currency remeasurement	(5)		(3)
Balance at end of year	$	—	$	137