Selected Quarterly Financial Data (Unaudited)

As discussed in Note 1A, the Company has identified certain accounting errors that affected consolidated financial statement amounts that were previously presented in its earlier filed Forms 10-Q and Form 10-K for the periods below.

The quarterly financial information in 2015 and 2014, as originally reported (“As Previously Reported”), as adjusted (“Adjustments”) and as restated to correct these errors (“As Restated), is presented below:



As Previously Reported		First Quarter			Second Quarter			Third Quarter			Fourth Quarter		Fiscal Year
Year Ended March 31, 2015
Sales and other operating revenue		$	249,017		$	589,815		$	488,921		$	738,097	$	2,065,850
Gross profit		35,104			71,483			69,704			78,788		255,079
Restructuring		—			500			—			8,618		9,118
Net income (loss)		(18,563		)	(1,917		)	1,122			3,761		(15,597		)
Net earnings (loss) attributable to noncontrolling interest		55			(7		)	(230		)	10		(172		)
Net income (loss) attributable to Alliance One International, Inc.		(18,618		)	(1,910		)	1,352			3,751		(15,425		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)		(2.12		)	(0.22		)	0.15			0.42		(1.75		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)		(2.12		)	(0.22		)	0.15			0.42		(1.75		)
Market Price	- High	30.10			27.40			21.00			16.30		30.10
	- Low	23.00			19.30			15.20			8.30		8.30



Inventory Adjustments (2)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter		Fiscal Year
Year Ended March 31, 2015
Sales and other operating revenue	$	—		$	—		$	—		$	—	$	—
Gross profit	(3,799		)	(13,762		)	(755		)	3,589		(14,727		)
Restructuring	—			—			—			—		—
Net income (loss)	(10,122		)	(10,741		)	1,008			5,956		(13,899		)
Net earnings (loss) attributable to noncontrolling interest	—			—			—			—		—
Net income (loss) attributable to Alliance One International, Inc.	(10,122		)	(10,741		)	1,008			5,956		(13,899		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)	(1.15		)	(1.20		)	0.11			0.67		(1.58		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)	(1.15		)	(1.20		)	0.11			0.67		(1.58		)

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (AS RESTATED) (continued)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (AS RESTATED) (continued)

Alliance One International, Inc. and Subsidiaries

(in thousands)

Note 20 – Selected Quarterly Financial Data (Unaudited) (continued)



Receivables Adjustments (3)	First Quarter		Second Quarter		Third Quarter			Fourth Quarter			Fiscal Year
Year Ended March 31, 2015
Sales and other operating revenue	$	127	$	7,155	$	306		$	(6,004	)	$	1,584
Gross profit	127		7,155		306			(6,004		)	1,584
Restructuring	—		—		—			—			—
Net income (loss)	3,292		4,580		(21		)	(6,356		)	1,495
Net earnings (loss) attributable to noncontrolling interest	—		—		—			—			—
Net income (loss) attributable to Alliance One International, Inc.	3,292		4,580		(21		)	(6,356		)	1,495
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)	0.37		0.51		—			(0.71		)	0.17
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)	0.37		0.51		—			(0.71		)	0.17



Other Adjustments (4)	First Quarter		Second Quarter			Third Quarter		Fourth Quarter			Fiscal Year
Year Ended March 31, 2015
Sales and other operating revenue	$	—	$	—		$	—	$	(569	)	$	(569	)
Gross profit	1,839		—			—		(1,058		)	781
Restructuring	—		—			—		—			—
Net income (loss)	1,763		(81		)	956		(939		)	1,699
Net earnings (loss) attributable to noncontrolling interest	—		—			—		—			—
Net income (loss) attributable to Alliance One International, Inc.	1,763		(81		)	956		(939		)	1,699
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)	0.20		(0.01		)	0.11		(0.11		)	0.19
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)	0.20		(0.01		)	0.11		(0.11		)	0.19

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (AS RESTATED) (continued)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (AS RESTATED) (continued)

Alliance One International, Inc. and Subsidiaries

(in thousands)

Note 20 – Selected Quarterly Financial Data (Unaudited) (continued)



As Restated		First Quarter			Second Quarter			Third Quarter			Fourth Quarter		Fiscal Year
Year Ended March 31, 2015
Sales and other operating revenue		$	249,144		$	596,970		$	489,227		$	731,524	$	2,066,865
Gross profit		33,271			64,876			69,255			75,315		242,717
Restructuring		—			500			—			8,618		9,118
Net income (loss)		(23,630		)	(8,158		)	3,065			2,421		(26,302		)
Net earnings (loss) attributable to noncontrolling interest		55			(7		)	(230		)	10		(172		)
Net income (loss) attributable to Alliance One International, Inc.		(23,685		)	(8,151		)	3,295			2,411		(26,130		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)		(2.69		)	(0.92		)	0.37			0.27		(2.96		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)		(2.69		)	(0.92		)	0.37			0.27		(2.96		)
Market Price	- High	30.10			27.40			21.00			16.30		30.10
	- Low	23.00			19.30			15.20			8.30		8.30



As Previously Reported		First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Fiscal Year
Year Ended March 31, 2014
Sales and other operating revenue		$	383,887		$	700,680		$	654,550		$	615,839		$	2,354,956
Gross profit		28,494			83,970			83,841			43,722			240,027
Debt Retirement Expense		17			55,582			64			1,786			57,449
Other Income (expense)		1,244			(499		)	(1,627		)	19,112			18,230
Net income (loss)		(36,733		)	(46,086		)	13,017			(17,200		)	(87,002		)
Net earnings (loss) attributable to non-controlling interest		129			(104		)	(270		)	(98		)	(343		)
Net income (loss) attributable to Alliance One International, Inc.		(36,862		)	(45,982		)	13,287			(17,102		)	(86,659		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)		(4.21		)	(5.25		)	1.51			(1.94		)	(9.88		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)		(4.21		)	(5.25		)	1.39			(1.94		)	(9.88		)
Market Price	- High	39.90			42.30			32.50			31.00			42.30
	- Low	34.10			27.90			28.10			24.10			24.10

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (AS RESTATED) (continued)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (AS RESTATED) (continued)

Alliance One International, Inc. and Subsidiaries

(in thousands)

Note 20 – Selected Quarterly Financial Data (Unaudited) (continued)



Inventory Adjustments (2)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter		Fiscal Year
Year Ended March 31, 2014
Sales and other operating revenue	$	—		$	—		$	—		$	—	$	—
Gross profit	(2,664		)	(2,700		)	(8,408		)	3,205		(10,567		)
Debt Retirement Expense	—			—			—			—		—
Other Income (expense)				—			—			—		—
Net income (loss)	(2,149		)	(3,343		)	(7,120		)	1,606		(11,006		)
Net earnings (loss) attributable to non-controlling interest	—			—			—			—		—
Net income (loss) attributable to Alliance One International, Inc.	(2,149		)	(3,343		)	(7,120		)	1,606		(11,006		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)	(0.25		)	(0.38		)	(0.80		)	0.18		(1.25		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)	(0.25		)	(0.38		)	(0.74		)	0.18		(1.25		)



Receivables Adjustments (3)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter			Fiscal Year
Year Ended March 31, 2014
Sales and other operating revenue	$	1,503	$	4,193	$	3,725	$	(9,765	)	$	(344	)
Gross profit	1,503		4,193		3,725		(9,765		)	(344		)
Debt Retirement Expense	—		—		—		—			—
Other Income (expense)	—		—		—		—			—
Net income (loss)	1,791		4,156		3,648		(9,953		)	(358		)
Net earnings (loss) attributable to non-controlling interest	—		—		—		—			—
Net income (loss) attributable to Alliance One International, Inc.	1,791		4,156		3,648		(9,953		)	(358		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)	0.20		0.47		0.41		(1.12		)	(0.04		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)	0.20		0.47		0.38		(1.12		)	(0.04		)

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (AS RESTATED) (continued)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (AS RESTATED) (continued)

Alliance One International, Inc. and Subsidiaries

(in thousands)

Note 20 – Selected Quarterly Financial Data (Unaudited) (continued)



Other Adjustments (4)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Fiscal Year
Year Ended March 31, 2014
Sales and other operating revenue	$	(76	)	$	—		$	—		$	—		$	(76	)
Gross profit	(621		)	—			—			(1,839		)	(2,460		)
Debt Retirement Expense	—			—			—			—			—
Other Income (expense)	—			—			—			530			530
Net income (loss)	(873		)	(224		)	(224		)	(1,717		)	(3,038		)
Net earnings (loss) attributable to non-controlling interest	—			—			—			—			—
Net income (loss) attributable to Alliance One International, Inc.	(873		)	(224		)	(224		)	(1,717		)	(3,038		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)	(0.10		)	(0.03		)	(0.03		)	(0.20		)	(0.35		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)	(0.10		)	(0.03		)	(0.03		)	(0.20		)	(0.35		)



As Restated		First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Fiscal Year
Year Ended March 31, 2014
Sales and other operating revenue		$	385,314		$	704,873		$	658,275		$	606,074		$	2,354,536
Gross profit		26,712			85,463			79,158			35,323			226,656
Debt Retirement Expense		17			55,582			64			1,786			57,449
Other Income (expense)		1,244			(499		)	(1,627		)	19,642			18,760
Net income (loss)		(37,964		)	(45,498		)	9,321			(27,263		)	(101,404		)
Net earnings (loss) attributable to non-controlling interest		129			(104		)	(270		)	(98		)	(343		)
Net income (loss) attributable to Alliance One International, Inc.		(38,093		)	(45,394		)	9,591			(27,165		)	(101,061		)
Per Share of Common Stock:
Basic earnings (loss) attributable to Alliance One International, Inc. (1)		(4.35		)	(5.18		)	1.09			(3.09		)	(11.52		)
Diluted earnings (loss) attributable to Alliance One International, Inc. (1)		(4.35		)	(5.18		)	1.02			(3.09		)	(11.52		)
Market Price	- High	39.90			42.30			32.50			31.00			42.30
	- Low	34.10			27.90			28.10			24.10			24.10

(1) Does not add due to quarterly change in average shares outstanding

(2) Adjustments for the errors described in Note 1A related to 1) improper accounting for shrinkage, deferred crop costs, lower of cost or market valuations and accurate inventory, and 2) costs of goods and services sold associated with improper revenue recognition.

(3) Adjustments for the errors described in Note 1A related to improper revenue recognition.

(4) Adjustments for the previously identified immaterial accounting errors described in Note 1A, primarily impacting inventories, costs of goods and services sold, income tax expense, and interest expense.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (AS RESTATED) (continued)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (AS RESTATED) (continued)

Alliance One International, Inc. and Subsidiaries

(in thousands)

Note 20 – Selected Quarterly Financial Data (Unaudited) (continued)

Second Quarter 2014 - Debt retirement expense of $55,582 related to redemption of the Company's $635,000 10% Senior Notes due 2016 and purchase of $60,000 of the Company's existing $115,000 5 1/2% Convertible Senior Subordinated Notes due 2014.

Fourth Quarter 2014 - Other income of $20,899 related to gain on sale of 51% of a Brazilian subsidiary to complete the formation of a new joint venture.

Fourth Quarter 2015 - Restructuring charges of $8,618 related to first phase of global restructuring plan in connection with reduction in global workforce.