Segment Reporting

3 Months Ended

Jun. 30, 2011

Segment Reporting

Segment Reporting Disclosure [Text Block]

7.  SEGMENT INFORMATION

The Company purchases, processes, sells and stores leaf tobacco.  Tobacco is purchased in more than 45 countries and shipped to more than 90 countries.  The sales, logistics and billing functions of the Company are primarily concentrated in service centers outside of the producing areas to facilitate access to its major customers.  Within certain quality and grade constraints, tobacco is fungible and, subject to these constraints, customers may choose to fulfill their needs from any of the areas where the Company purchases tobacco.

          Selling, logistics, billing, and administrative overhead, including depreciation, which originates primarily from the Company’s corporate and sales offices are allocated to the segments based upon segment operating income.  The Company reviews performance data from purchase through sale based on the source of the product and all intercompany transactions are allocated to the region that either purchases or processes the tobacco.

          The following table presents the summary segment information for the three months and six months ended September 30, 2011 and 2010:

	Three Months Ended		Six Months Ended
	September 30,		September 30,
	2011	2010	2011	2010
Sales and other operating revenues:
South America	$  222,880	$   230,276	$  378,725	$    494,154
Other regions	291,651	328,973	497,370	556,051
Total revenue	$  514,531	$   559,249	$  876,095	$ 1,050,205
Operating income:
South America	$    12,252	$     30,768	$    26,574	$      49,917
Other regions	24,740	15,221	34,172	40,418
Total operating income	36,992	45,989	60,746	90,335
Debt retirement expense	-	2,511	-	3,443
Interest expense	27,027	27,089	52,803	53,825
Interest income	1,286	1,936	2,777	3,919
Income before income taxes and other items	$    11,251	$     18,325	$    10,720	$      36,986

Analysis of Segment Assets		September 30, 2011	September 30, 2010	March 31, 2011
Segment assets:
	South America	$    782,933	$   719,060	$     690,428
	Other regions	1,309,323	1,357,433	1,117,902
	Total assets	$ 2,092,256	$2,076,493	$  1,808,330