Equity in Net Assets of Investee Companies

12 Months Ended

Mar. 31, 2012

Equity in Net Assets of Investee Companies [Abstract]

Equity in Net Assets of Investee Companies

The Company has equity basis investments in companies located in Asia which purchase and process tobacco. The Asia investees and ownership percentages are as follows: Transcontinental Leaf Tobacco India Private Ltd. (India) 49%, Siam Tobacco Export Company (Thailand) 49%, Adams International Ltd. (Thailand) 49%. Summarized financial information for these investees for fiscal years ended March 31, 2012, 2011 and 2010 follows:



	Years Ended March 31,
Operations Statement Information	2012		2011		2010
Sales	$	119,252	$	112,362	$	105,123
Gross profit	9,191		15,057		14,947
Net income	147		5,026		3,994
Company's dividends received	1,480		—		430



	March 31,
Balance Sheet Information	2012		2011
Current assets	$	63,732	$	74,468
Property, plant and equipment and other assets	35,697		35,811
Current liabilities	47,766		54,283
Long-term obligations and other liabilities	4,019		5,479
Interests of other shareholders	24,299		25,764
Company’s interest	23,346		24,753

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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