The following tables present the effect of the restatement on selected line items of the previously reported consolidated financial statements for the years ended March 31, 2015, 2014 and 2013.



	Consolidated Balance Sheet as of
	March 31, 2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Trade and other receivables, net	$	200,403		$	—		$	(7,459	)	$	426		$	193,370
Inventories	772,608			(31,665		)	—			—			740,943
Advances to tobacco suppliers	38,589			—			—			(822		)	37,767
Current deferred taxes	15,587			—			—			(1		)	15,586
Prepaid expenses	23,541			—			—			360			23,901
Total current assets	1,256,256			(31,665		)	(7,459		)	(37		)	1,217,095
Deferred income taxes	31,649			—			—			1,506			33,155
Other noncurrent assets	27,858			—			—			(227		)	27,631
Property, plant and equipment, net	237,975			—			—			(61		)	237,914
Total assets	1,664,589			(31,665		)	(7,459		)	1,181			1,626,646
Accounts payable	73,358			—			—			(9		)	73,349
Accrued expenses and other current liabilities	87,132			—			—			683			87,815
Income taxes	12,964			(22		)	(182		)	(66		)	12,694
Total current liabilities	584,020			(22		)	(182		)	608			584,424
Deferred income taxes	5,284			—			—			(1,786		)	3,498
Liability for unrecognized tax benefits	8,826			—			—			2,185			11,011
Pension, postretirement and other long-term liabilities	91,252			—			—			250			91,502
Retained deficit	(169,413		)	(31,643		)	(7,277		)	149			(208,184		)
Accumulated other comprehensive income	(66,161		)	—			—			(225		)	(66,386		)
Total stockholders' equity of Alliance One International, Inc.	232,990			(31,643		)	(7,277		)	(76		)	193,994
Total equity	236,264			(31,643		)	(7,277		)	(76		)	197,268
Total liabilities and stockholders' equity	1,664,589			(31,665		)	(7,459		)	1,181			1,626,646

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 1A - Restatement of Previously Issued Consolidated Financial Statements (Continued)



	Statement of Consolidated Operations
	March 31, 2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)			As Restated
Sales and other operating revenues	$	2,065,850		$	—		$	1,584	$	(569	)	$	2,066,865
Cost of goods and services sold	1,810,771			14,727			—		(1,350		)	1,824,148
Gross profit	255,079			(14,727		)	1,584		781			242,717
Other income	1,894			—			—		(504		)	1,390
Operating income	110,835			(14,727		)	1,584		277			97,969
Interest expense	113,355			—			—		(82		)	113,273
Income (loss) before income taxes and other	4,519			(14,727		)	1,584		359			(8,265		)
Income tax expense (benefit)	22,939			(828		)	89		(1,340		)	20,860
Net income (loss)	(15,597		)	(13,899		)	1,495		1,699			(26,302		)
Net income (loss) attributable to Alliance One International, Inc.	(15,425		)	(13,899		)	1,495		1,699			(26,130		)
Earnings (loss) per share:
Basic	(1.75		)	(1.58		)	0.17		0.19			(2.96		)
Diluted	(1.75		)	(1.58		)	0.17		0.19			(2.96		)



	Consolidated Statement of Comprehensive Income (Loss)
	March 31, 2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)		As Restated
Net income (loss)	$	(15,597	)	$	(13,899	)	$	1,495	$	1,699	$	(26,302	)
Total comprehensive income (loss)	(43,657		)	(13,899		)	1,495		1,699		(54,362		)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(43,485		)	(13,899		)	1,495		1,699		(54,190		)

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 1A - Restatement of Previously Issued Consolidated Financial Statements (Continued)



	Statement of Consolidated Cash Flows
	March 31, 2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net income (loss)	$	(15,597	)	$	(13,899	)	$	1,495		$	1,699		$	(26,302	)
Loss on foreign currency transactions	8,570			—			—			(296		)	8,274
Trade and other receivables	(47,384		)	—			(1,495		)	(1,479		)	(50,358		)
Inventories and advances to tobacco suppliers	(19,552		)	13,899			—			987			(4,666		)
Deferred items	(15,118		)	—			—			(2,907		)	(18,025		)
Payables and accrued expenses	(24,018		)	—			—			610			(23,408		)
Prepaids	2,037			—			—			(294		)	1,743
Income taxes	4,682			—			—			829			5,511
Other operating assets and liabilities	637			—			—			815			1,452
Net cash used by operating activities	(55,187		)	—			—			(36		)	(55,223		)
Decrease in cash and cash equivalents	(90,893		)	—			—			(36		)	(90,929		)
Cash and cash equivalents at beginning of year	234,742			—			—			36			234,778

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 1A - Restatement of Previously Issued Consolidated Financial Statements (Continued)



	Consolidated Balance Sheet as of
	March 31, 2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Cash and cash equivalents	$	234,742		$	—		$	—		$	36		$	234,778
Trade and other receivables, net	176,459			—			(9,044		)	(962		)	166,453
Inventories	760,607			(16,937		)	—			(1		)	743,669
Advances to tobacco suppliers	49,598			—			—			(890		)	48,708
Prepaid expenses	27,667			—			—			66			27,733
Total current assets	1,320,797			(16,937		)	(9,044		)	(1,751		)	1,293,065
Investments in unconsolidated affiliates	50,876			—			—			530			51,406
Property, plant and equipment, net	261,246			—			—			(72		)	261,174
Total assets	1,775,287			(16,937		)	(9,044		)	(1,293		)	1,748,013
Accounts payable	115,177			—			—			26			115,203
Accrued expenses and other current liabilities	72,525			—			—			38			72,563
Income taxes	10,784			807			(272		)	(1,634		)	9,685
Total current liabilities	501,397			807			(272		)	(1,570		)	500,362
Deferred income taxes	5,788			—			—			(1,108		)	4,680
Liability for unrecognized tax benefits	9,436			—			—			2,910			12,346
Pension, postretirement and other long-term liabilities	81,415			—			—			250			81,665
Retained deficit	(153,988		)	(17,744		)	(8,772		)	(1,550		)	(182,054		)
Accumulated other comprehensive income	(38,101		)	—			—			(225		)	(38,326		)
Total stockholders' equity of Alliance One International, Inc.	273,593			(17,744		)	(8,772		)	(1,775		)	245,302
Total equity	276,888			(17,744		)	(8,772		)	(1,775		)	248,597
Total liabilities and stockholders' equity	1,775,287			(16,937		)	(9,044		)	(1,293		)	1,748,013

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 1A - Restatement of Previously Issued Consolidated Financial Statements (Continued)



	Statement of Consolidated Operations
	March 31, 2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Sales and other operating revenues	$	2,354,956		$	—		$	(344	)	$	(76	)	$	2,354,536
Cost of goods and services sold	2,114,929			10,567			—			2,384			2,127,880
Gross profit	240,027			(10,567		)	(344		)	(2,460		)	226,656
Other income	18,230			—			—			530			18,760
Operating income	119,059			(10,567		)	(344		)	(1,929		)	106,219
Interest expense	116,798			—			—			29			116,827
Loss before income taxes and other	(48,120		)	(10,567		)	(344		)	(1,958		)	(60,989		)
Income tax expense	38,942			439			14			1,080			40,475
Net loss	(87,002		)	(11,006		)	(358		)	(3,038		)	(101,404		)
Net loss attributable to Alliance One International, Inc.	(86,659		)	(11,006		)	(358		)	(3,038		)	(101,061		)
Loss per share:
Basic	(9.88		)	(1.25		)	(0.04		)	(0.35		)	(11.52		)
Diluted	(9.88		)	(1.25		)	(0.04		)	(0.35		)	(11.52		)



	Consolidated Statement of Comprehensive (Loss)
	Income March 31, 2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(87,002	)	$	(11,006	)	$	(358	)	$	(3,038	)	$	(101,404	)
Total comprehensive loss	(69,911		)	(11,006		)	(358		)	(3,038		)	(84,313		)
Comprehensive loss attributable to Alliance One International, Inc.	(69,568		)	(11,006		)	(358		)	(3,038		)	(83,970		)

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 1A - Restatement of Previously Issued Consolidated Financial Statements (Continued)



	Statement of Consolidated Cash Flows
	March 31, 2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(87,002	)	$	(11,006	)	$	(358	)	$	(3,038	)	$	(101,404	)
Loss on foreign currency transactions	12,286			—			—			62			12,348
Trade and other receivables	50,392			—			358			335			51,085
Inventories and advances to tobacco suppliers	157,212			11,006			—			(24		)	168,194
Deferred items	2,769			—			—			2,119			4,888
Payables and accrued expenses	24,989			—			—			1,849			26,838
Prepaids	4,304			—			—			(66		)	4,238
Income taxes	1,172			—			—			(634		)	538
Other operating assets and liabilities	(560		)	—			—			(567		)	(1,127		)
Net cash provided by operating activities	262,436			—			—			36			262,472
Increase in cash and cash equivalents	142,716			—			—			36			142,752
Cash and cash equivalents at end of year	234,742			—			—			36			234,778



	Statement of Consolidated Operations
	March 31, 2013
(in thousands)	As Previously Reported		Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Sales and other operating revenues	$	2,243,816	$	—		$	(3,279	)	$	459		$	2,240,996
Cost of goods and services sold	1,958,570		(4,230		)	—			(546		)	1,953,794
Gross profit	285,246		4,230			(3,279		)	1,005			287,202
Selling, general and administrative expenses	145,750		—			—			27			145,777
Operating income	160,272		4,230			(3,279		)	978			162,201
Interest expense	114,557		—			—			(29		)	114,528
Income (loss) before income taxes and other	51,067		4,230			(3,279		)	1,007			53,025
Income tax expense (benefit)	27,992		367			(285		)	1,976			30,050
Net income (loss)	24,712		3,863			(2,994		)	(969		)	24,612
Net income (loss) attributable to Alliance One International, Inc.	24,013		3,863			(2,994		)	(969		)	23,913
Earnings (loss) per share:
Basic	2.75		0.44			(0.34		)	(0.11		)	2.74
Diluted	2.54		0.35			(0.27		)	(0.09		)	2.53

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 1A - Restatement of Previously Issued Consolidated Financial Statements (Continued)



	Consolidated Statement of Comprehensive (Loss)
	Income March 31, 2013
(in thousands)	As Previously Reported			Inventory Adjustments (1)		Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net income (loss)	$	24,712		$	3,863	$	(2,994	)	$	(969	)	$	24,612
Pension prior service credit (cost) and net actuarial gain (loss), net of tax	(13,717		)	—		—			(225		)	(13,942		)
Total other comprehensive income (loss), net of tax	(16,519		)	—		—			(225		)	(16,744		)
Total comprehensive income (loss)	8,193			3,863		(2,994		)	(1,194		)	7,868
Comprehensive income (loss) attributable to Alliance One International, Inc.	7,494			3,863		(2,994		)	(1,194		)	7,169



	Statement of Consolidated Cash Flows
	March 31, 2013
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net income (loss)	$	24,712		$	3,863		$	(2,994	)	$	(969	)	$	24,612
Loss on foreign currency transactions	5,662			—			—			(98		)	5,564
Trade and other receivables	49,401			—			2,994			997			53,392
Inventories and advances to tobacco suppliers	(97,324		)	(3,863		)	—			108			(101,079		)
Deferred items	(29,797		)	—			—			1,317			(28,480		)
Payables and accrued expenses	5			—			—			(1,834		)	(1,829		)
Income taxes	(7,040		)	—			—			41			(6,999		)
Other operating assets and liabilities	722			—			—			438			1,160

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 1A - Restatement of Previously Issued Consolidated Financial Statements (Continued)



Statement of Consolidated Stockholders' Equity
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Retained Deficit at March 31, 2012	$	(91,342	)	$	(10,601	)	$	(5,420	)	$	2,457		$	(104,906	)
Net Income	24,013			3,863			(2,994		)	(969		)	23,913
Retained Deficit at March 31, 2013	(67,329		)	(6,738		)	(8,414		)	1,488			(80,993		)
Net Income	(86,659		)	(11,006		)	(358		)	(3,038		)	(101,061		)
Retained Deficit at March 31, 2014	(153,988		)	(17,744		)	(8,772		)	(1,550		)	(182,054		)
Net Income	(15,425		)	(13,899		)	1,495			1,699			(26,130		)
Retained Deficit at March 31, 2015	(169,413		)	(31,643		)	(7,277		)	149			(208,184		)



Accumulated Other Comprehensive Income (in thousands)	As Previously Reported			Inventory Adjustments (1)		Receivables Adjustments (2)		Other Adjustments (3)			As Restated
Other comprehensive loss, net of tax for twelve months ended March 31, 2013	$	(13,717	)	$	—	$	—	$	(225	)	$	(13,942	)
Pensions Net of Tax at March 31, 2013	(49,468		)	—		—		(225		)	(49,693		)
Pensions Net of Tax at March 31, 2014	(36,461		)	—		—		(225		)	(36,686		)
Pensions Net of Tax at March 31, 2015	(52,007		)	—		—		(225		)	(52,232		)



(in thousands)	As Previously Reported			Inventory Adjustments (1)		Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Total Stockholders' Equity at March 31, 2012	$	330,421		(10,601	)	$	(5,420	)	$	2,457		$	316,857
Net Income	24,712			3,863		(2,994		)	(969		)	24,612
Other comprehensive loss, net of tax	(16,519		)	—		—			(225		)	(16,744		)
Total Stockholders' Equity at March 31, 2013	342,031			(6,738	)	(8,414		)	1,263			328,142
Net Loss	(87,002		)	(11,006	)	(358		)	(3,038		)	(101,404		)
Total Stockholders' Equity at March 31, 2014	276,888			(17,744	)	(8,772		)	(1,775		)	248,597
Net Loss	(15,597		)	(13,899	)	1,495			1,699			(26,302		)
Total Stockholders' Equity at March 31, 2015	236,264			(31,643	)	(7,277		)	(76		)	197,268

(1) Adjustments 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.

(2) Adjustments related to improper revenue recognition.

(3) Adjustments for the previously identified immaterial accounting errors, primarily impacting inventories, costs of goods and services sold, income tax expense, and interest expense.