Restructuring and Related Activities

3 Months Ended

Dec. 31, 2011

Restructuring and Related Activities

Restructuring and Related Activities Disclosure [Text Block]

4.  RESTRUCTURING CHARGES

In response to shifting supply and demand balances and the changing business models of the Company’s customers, the Company began implementing several strategic initiatives during the third quarter of fiscal 2011.  As of December 31, 2011, these initiatives are substantially complete.  The following table summarizes the restructuring and asset impairment charges recorded in the Company’s reporting segments during the three months and nine months ended December 31, 2011 and 2010:

	Three Months Ended		Nine Months Ended
	December 31,		December 31,
Restructuring and Asset Impairment Charges	2011	2010	2011	2010
Employee separation and other cash charges:
Beginning balance	$ 3,793	$           -	$  6,193	$           -
Period charges:
Severance charges	67	13,181	792	13,181
Other cash charges	-	-	31	-
Total period charges	67	13,181	823	13,181
Payments through December 31	(433)	(1,838)	(3,589)	(1,838)
Ending balance December 31	$ 3,427	$ 11,343	$ 3,427	$ 11,343
Non-current asset impairment charges	-	204	760	204
Total restructuring and asset impairment charges for the    period	$      67	$ 13,385	$ 1,583	$ 13,385

          Non-current asset impairment charges are primarily for non-tobacco internally developed software intangible assets and real property in Macedonia.

         The following table summarizes the employee separation and other cash charges recorded in the Company’s South America and Other Regions segments during the three months and nine months ended December 31, 2011 and 2010:

	Three Months Ended		Nine Months Ended
	December 31,		December 31,
Employee Separation and Other Cash Charges	2011	2010	2011	2010
Beginning balance:	$ 3,793	$           -	$    6,193	$           -
South America	545	-	1,073	-
Other regions	3,248	-	5,120	-
Period charges:	$      67	$ 13,181	$       823	$ 13,181
South America	-	-	419	-
Other regions	67	13,181	404	13,181
Payments through December 31:	$  (433)	$ (1,838)	$  (3,589)	$ (1,838)
South America	(6)	-	(953)	-
Other regions	(427)	(1,838)	$  (2,636)	(1,838)
Ending balance December 31:	$ 3,427	$ 11,343	$    3,427	$ 11,343
South America	538	-	538	-
Other regions	2,889	11,343	2,889	11,343