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Operating Segments
 6 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Operating Segments OPERATING SEGMENTS
Management regularly evaluates the Company’s global business activities, including product and service offerings to its customers, as well as senior management’s operational and financial responsibilities. Assessments include an analysis of how its Chief Operating Decision Maker (“CODM”) measures business performance and allocates resources. As a result of this analysis, senior management has determined the Company conducts operations across two reportable operating segments, Tobacco Operations and Ingredients Operations.
The Tobacco Operations segment activities involve contracting, procuring, processing, packing, storing, and shipping leaf tobacco for sale to, or for the account of, manufacturers of consumer tobacco products throughout the world. Through various operating subsidiaries located in tobacco-growing countries around the world and significant ownership interests in unconsolidated affiliates, the Company processes and/or sells flue-cured and burley tobaccos, dark air-cured tobaccos, and oriental tobaccos. Flue-cured, burley, and oriental tobaccos are used principally in the manufacture of cigarettes, and dark air-cured tobaccos are used mainly in the manufacture of cigars, pipe tobacco, and smokeless tobacco products. Some of these tobacco types are also used in the manufacture of next generation tobacco products that are intended to provide consumers with an alternative to traditional combustible products. The Tobacco Operations segment also provides physical and chemical product testing for tobacco customers. A substantial portion of the Company’s Tobacco Operations’ revenues are derived from sales to a limited number of large, multinational cigarette and cigar manufacturers.
The Ingredients Operations segment provides its customers with a broad variety of plant-based ingredients for both human and pet consumption. The Ingredients Operations segment utilizes a variety of value-added manufacturing processes converting raw materials into a wide spectrum of fruit and vegetable juices, concentrates, dehydrated products, botanical extracts, and flavorings. Customers for the Ingredients Operations segment include large multinational food and beverage companies, smaller independent manufacturers, and retail organizations. FruitSmart, Inc. (“FruitSmart”), Silva International, Inc. (“Silva”),
and Shank’s Extracts, LLC d/b/a Universal Ingredients–Shank’s (“Universal Ingredients–Shank’s”) are the primary operations for the Ingredients Operations segment. FruitSmart supplies a broad set of juices, concentrates, pomaces, purees, fruit fibers, seeds, seed powders, and other value-added products to food, beverage, and flavor companies throughout the United States and internationally. Silva procures dehydrated vegetables, fruits, and herbs from around the world and specializes in processing natural materials into custom designed dehydrated vegetable and fruit-based ingredients for a variety of end products. Universal Ingredients–Shank’s offers a diversified portfolio of botanical extracts, distillates, natural flavors, and color for industrial and private label customers worldwide, and is known for their significant vanilla expertise. Universal Ingredients–Shank’s is also equipped to offer customers custom bottling and packaging for their products.
Universal incurs corporate overhead expenses related to senior management, sales, finance, legal, and other functions that are centralized at its corporate headquarters, as well as functions performed at several sales and administrative offices around the world. These overhead expenses are currently allocated to the reportable operating segments, generally on the basis of projected annual financial and operational performance, including volumes planned to be purchased and/or processed. Management believes this method of allocation is currently representative of the value of the related services provided to the operating segments. The CODM, which has been identified as a group comprised of the Company’s Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, currently evaluates the performance of the operating segments based on operating income after allocated overhead expenses, plus equity in the pretax earnings of unconsolidated affiliates (“Segment Operating Income”). The CODM also uses Segment Operating Income for planning, forecasting, and allocating capital and other resources to the operating segments.
Reportable segment data as of, or for, each period presented in the consolidated statements of income and comprehensive income, the consolidated balance sheets, and the consolidated statements of cash flows is as follows:
Three Months Ended September 30, 2025Three Months Ended September 30, 2024
Tobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidated
Sales and other operating revenues$659,423 $94,754 $754,177 $630,212 $80,550 $710,762 
Cost of goods sold(534,668)(79,679)(614,347)(503,147)(64,470)(567,617)
Selling, general and administrative expenses(40,057)(12,041)(52,098)(33,657)(11,873)(45,530)
Corporate overhead allocated to the segments(16,889)(3,194)(20,083)(15,432)(2,874)(18,306)
Equity in pretax earnings (loss) of unconsolidated affiliates (1)
(2,561)— (2,561)(642)— (642)
Segment operating income65,248 (160)65,088 77,334 1,333 78,667 
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates (1)
2,561 642 
Restructuring and impairment costs (2)
— (10,573)
Consolidated total$67,649 $68,736 
Six Months Ended September 30, 2025Six Months Ended September 30, 2024
Tobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidated
Sales and other operating revenues$1,164,119 $183,820 $1,347,939 $1,142,167 $165,645 $1,307,812 
Cost of goods sold(942,535)(151,447)(1,093,982)(937,912)(130,834)(1,068,746)
Selling, general and administrative expenses(84,811)(24,078)(108,889)(80,205)(24,652)(104,857)
Corporate overhead allocated to the segments(35,729)(6,755)(42,484)(31,760)(5,915)(37,675)
Equity in pretax earnings (loss) of unconsolidated affiliates(1)
(126)— (126)(502)— (502)
Segment operating income100,918 1,540 102,458 91,788 4,244 96,032 
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates(1)
126 502 
Restructuring and impairment costs (2)
(1,122)(10,573)
Consolidated operating income$101,462 $85,961 
(1)Equity in pretax earnings (loss) of unconsolidated affiliates is included in segment operating income (Tobacco Operations), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income and comprehensive income.
(2)Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income. See Note 2 for additional information.
Segment AssetsAccounts Receivable, net
September 30,
2025		September 30,
2024		March 31,
2025		September 30,
2025		September 30,
2024		March 31,
2025
Tobacco Operations$2,555,801 $2,533,062 $2,436,416 $383,623 $477,855 $566,755 
Ingredients Operations514,638 512,524 553,136 61,634 59,747 59,121 
Consolidated total$3,070,439 $3,045,586 $2,989,552 $445,257 $537,602 $625,876 
Goodwill, netIntangibles, net
September 30,
2025		September 30,
2024		March 31,
2025		September 30,
2025		September 30,
2024		March 31,
2025
Tobacco Operations$97,747 $97,804 $97,772 $55 $66 $47 
Ingredients Operations116,068 116,068 116,068 52,595 63,197 57,789 
Consolidated total$213,815 $213,872 $213,840 $52,650 $63,263 $57,836 
Capital ExpendituresDepreciation and Amortization
Six Months Ended September 30,Six Months Ended September 30,
2025202420252024
Tobacco Operations$13,711 $18,781 $16,378 $19,835 
Ingredients Operations7,388 20,015 10,820 9,585 
Consolidated total$21,099 $38,796 $27,198 $29,420