10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

(AMENDMENT NO. 2)

[X] QUARTERLYREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30 2015.

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______.

Alliance One International, Inc.

(Exact name of registrant as specified in its charter)

Virginia	001-13684	54-1746567
________________	_____________________________	____________________
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

8001 Aerial Center Parkway
Morrisville, NC 27560-8417
(Address of principal executive offices)

(919) 379-4300
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [ ] No [X]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [ ] No [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.                                                                                                                                               

Large accelerated filer  [ ]                                                                        Accelerated filer  [X]                                           

Non-accelerated filer    [ ]                                                                        Smaller reporting company  [ ]                                 

(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
                                               Yes [ ]                                                                              No [X]

As of July 31, 2015, the registrant had 8,883,239 shares outstanding of Common Stock (no par value) excluding 785,312 shares owned by a wholly owned subsidiary. After the close of business on June 26, 2015, the registrant effected a one-for-ten reverse split of its Common Stock.

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Explanatory Note

We are filing this amended Form 10-Q/A (“Form 10-Q/A”) to amend our Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, originally filed with the Securities and Exchange Commission (the “SEC”) on August 5, 2015 (“Original Filing”), to restate our unaudited condensed consolidated financial statements and related footnote disclosures for the three months ended June 30, 2015 and 2014. This Form 10-Q/A also amends certain other Items in the Original Filing, as listed in “Items Amended in this Form 10-Q/A” below. The Company is concurrently filing an amended Annual Report on Form 10-K/A for the year ended March 31, 2015 and Quarterly Reports on Form 10-Q for the quarterly periods ended September 30, 2015 and December 31, 2015.

Restatement Background

On February 15, 2016, the Audit Committee of our Board of Directors (the “Audit Committee”), after discussion with management, determined that the following financial statements previously filed with the SEC should no longer be relied upon: (1) the audited consolidated financial statements included in our Annual Report on Form 10-K for the years ended March 31, 2015, 2014 and 2013; and (2) the unaudited condensed consolidated financial statements included in our Quarterly Reports on Form 10-Q for the quarters ended June 30, 2015, 2014 and 2013, September 30, 2014 and 2013, and December 31, 2014 and 2013. Similarly, the related press releases, auditor reports on the consolidated financial statements as of and for the year ended March 31, 2015, 2014 and 2013, and the effectiveness of internal control over financial reporting, management’s report on the effectiveness of internal control over financial reporting, and stockholder communications describing the portion of our financial statements for these periods that needed to be restated should no longer be relied upon.

In the course of downsizing and terminating certain operations of Alliance One Tobacco (Kenya) Limited (“AOTK”), and preparing our financial statements for the quarter ended September 30, 2015, the Company identified errors in accounts receivable, inventory, sales and cost of goods sold in AOTK. Specifically, the value of inventory was overstated due to improper accounting for shrinkage, deferred crop costs, lower of cost or market valuations and inventory counts. Further, sales and other operating revenues, and trade and other receivables, net were incorrectly stated due to improper revenue recognition for external sales. As a result of these errors, we have restated our consolidated financial statements for the years ended March 31, 2015, 2014 and 2013 and our unaudited condensed consolidated financial information for the three months ended June 30, 2015 and 2014 on this Form 10-Q/A.

As of June 30, 2015, the correction of these errors decreased the reported amount of inventory by approximately $40 million, decreased accounts receivable by approximately $5 million, and decreased retained earnings by approximately $45 million. Approximately $39 million of the decrease in retained earnings is related to March 31, 2015 and prior periods, with a portion in each quarter dating back to fiscal 2011 and prior. Further, these corrections decreased operating income for the three months ended June 30, 2015 by approximately $6 million. Please refer to Note 1A “Restatement of Previously Issued Consolidated Financial Statements” of Notes to Condensed Consolidated Financial Statements (As Restated) included in Part I, Item 1, of this Form 10-Q/A for more information regarding the impact of these adjustments.

Along with restating our financial statements to correct the errors discussed above, we have recorded adjustments for certain previously identified immaterial accounting errors related to the periods covered by this Form 10-Q/A. When these financial statements were originally issued, we assessed the impact of these errors and concluded that they were not material to our financial statements for the three months ended June 30, 2015 and 2014. However, in conjunction with our need to restate our financial statements as a result of the errors above, we have determined that it would be appropriate within this Form 10-Q/A to record all such previously unrecorded adjustments. Please refer to Note 1A "Restatement of Previously Issued Consolidated Financial Statements" of Notes to Condensed Consolidated Financial Statements (As Restated) included in Part I, Item 1, of this Form 10-Q/A for more information regarding the impact of these adjustments.

Because our prior period financial results have been corrected for errors, they are considered to be "restated" under U.S. generally accepted accounting principles. Accordingly, the revised financial information included in this Quarterly Report on Form 10-Q/A has been identified as “restated”.

Internal Control Consideration

Our Chief Executive Officer and Chief Financial Officer have determined that there were deficiencies in our internal control over financial reporting that constitute material weaknesses, as defined by SEC regulations, at June 30, 2015. Accordingly, our Chief Executive Officer and Chief Financial Officer have concluded that our internal control over financial reporting and our disclosure controls and procedures, as defined by SEC regulations, were not effective at June 30, 2015, as discussed in Part I, Item 4 of this Form 10-Q/A.

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Items Amended in this Form 10-Q/A

For the convenience of the reader, this Form 10-Q/A sets forth the Original Filing, in its entirety, as modified and superseded as necessary to reflect the restatement. The following items in the Original Filing have been amended as a result of, and to reflect, the restatement:

A. Part I, Item 1. Financial Statements

B. Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

C. Part I, Item 4. Controls and Procedures

In accordance with applicable SEC rules, this Form 10-Q/A includes new certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, from our Chief Executive Officer and Chief Financial Officer dated as of the filing of this Form 10-Q/A.

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Alliance One International, Inc. and Subsidiaries
Table of Contents
			Page No.
Part I.	Financial Information
	Item 1.	Financial Statements (Unaudited)
		Condensed Consolidated Statements of Operations (As Restated)
		Three Months Ended June 30, 2015 and 2014	5
		Condensed Consolidated Statements of Comprehensive Income (Loss) (As Restated)
		Three Months Ended June 30, 2015 and 2014	6
		Condensed Consolidated Balance Sheets (As Restated)
		June 30, 2015 and 2014 and March 31, 2015	7
		Condensed Statements of Consolidated Stockholders’ Equity (As Restated)
		Three Months Ended June 30, 2015 and 2014	8
		Condensed Consolidated Statements of Cash Flows (As Restated)
		Three Months Ended June 30, 2015 and 2014	9
		Notes to Condensed Consolidated Financial Statements (As Restated)	10 – 32
	Item 2.	Management's Discussion and Analysis
		of Financial Condition and Results of Operations (As Restated)	33 – 39
	Item 3.	Quantitative and Qualitative Disclosures about Market Risk	39
	Item 4.	Controls and Procedures (As Restated)	39 - 41
Part II.	Other Information
	Item 1.	Legal Proceedings	41
	Item 1A.	Risk Factors	41
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	41
	Item 3.	Defaults Upon Senior Securities	41
	Item 4.	Mine Safety Disclosures	41
	Item 5.	Other Information	41
	Item 6.	Exhibits	42
Signature			43
Index of Exhibits			44

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Part I. Financial Information

Item 1. Financial Statements

Alliance One International, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (AS RESTATED)
Three Months Ended June 30, 2015 and 2014
(Unaudited)
	Three Months Ended June 30,
(in thousands, except per share data)	2015 (As Restated)			2014 (As Restated)
Sales and other operating revenues	$	266,282		$	249,144
Cost of goods and services sold	236,884			215,873
Gross profit	29,398			33,271
Selling, general and administrative expenses	29,914			31,325
Other income	560			800
Restructuring and asset impairment charges	2,948			—
Operating income (loss)	(2,904		)	2,746
Interest expense (includes debt amortization of $2,244 and $1,552 for the three months in 2015 and 2014, respectively)	27,773			26,922
Interest income	1,374			1,351
Loss before income taxes and other items	(29,303		)	(22,825		)
Income tax expense (benefit)	(3,214		)	320
Equity in net income (loss) of investee companies	132			(485		)
Net loss	(25,957		)	(23,630		)
Less: Net income (loss) attributable to noncontrolling interests	(7		)	55
Net loss attributable to Alliance One International, Inc.	$	(25,950	)	$	(23,685	)
Loss per share:
Basic	$	(2.93	)	$	(2.69	)
Diluted	$	(2.93	)	$	(2.69	)
Weighted average number of shares outstanding:
Basic	8,862			8,799
Diluted	8,862			8,799
See notes to condensed consolidated financial statements

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Alliance One International, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (AS RESTATED)
Three Months Ended June 30, 2015
(Unaudited)
	Three Months Ended June 30,
(in thousands)	2015 (As Restated)			2014 (As Restated)
Net loss	$	(25,957	)	$	(23,630	)
Other comprehensive income (loss), net of tax:
Currency translation adjustment	2,307			208
Defined benefit pension plan:
Amount reclassified to liability	225			—
Amount reclassified to income	1,000			414
Defined benefit pension plan adjustments	1,225			414
Total other comprehensive income (loss), net of tax	3,532			622
Total comprehensive income (loss)	(22,425		)	(23,008		)
Comprehensive income (loss) attributable to noncontrolling interests	(7		)	55
Comprehensive income (loss) attributable to Alliance One International, Inc.	$	(22,418	)	$	(23,063	)
See notes to condensed consolidated financial statements

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Alliance One International, Inc. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (AS RESTATED)(Unaudited)
(in thousands)				June 30, 2015 (As Restated)			June 30, 2014 (As Restated)			March 31, 2015(As Restated)
ASSETS
Current assets
Cash and cash equivalents				$	163,942		$	126,199		$	143,849
Trade and other receivables, net				173,223			177,942			193,370
Accounts receivable, related parties				89,285			76,672			41,816
Inventories				885,897			993,678			740,943
Advances to tobacco suppliers				47,273			58,563			37,767
Recoverable income taxes				5,851			5,991			5,257
Current deferred taxes, net				22,824			13,376			15,586
Prepaid expenses				24,179			34,213			23,901
Other current assets				14,795			14,074			14,606
Total current assets				1,427,269			1,500,708			1,217,095
Other assets
Investments in unconsolidated affiliates				54,508			51,457			54,694
Goodwill and other intangible assets				30,994			34,235			31,891
Long-term recoverable income taxes				7,252			5,644			6,571
Deferred income taxes, net				30,899			40,878			33,155
Other deferred charges				18,296			19,711			17,695
Other noncurrent assets				27,141			39,015			27,631
				169,090			190,940			171,637
Property, plant and equipment, net				235,327			258,613			237,914
				$	1,831,686		$	1,950,261		$	1,626,646
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Notes payable to banks				$	401,089		$	541,199		$	330,254
Accounts payable				78,147			89,054			73,349
Due to related parties				22,920			8,824			58,512
Advances from customers				20,042			40,889			18,906
Accrued expenses and other current liabilities				95,928			105,518			87,815
Income taxes				9,470			8,521			12,694
Long-term debt current				32,894			4,329			2,894
Total current liabilities				660,490			798,334			584,424
Long-term debt				894,059			825,423			738,943
Deferred income taxes				1,478			7,850			3,498
Liability for unrecognized tax benefits				10,522			12,511			11,011
Pension, postretirement and other long-term liabilities				89,301			79,969			91,502
				995,360			925,753			844,954
Commitments and contingencies
Stockholders’ equity	June 30, 2015	June 30, 2014	March 31, 2015
Common Stock—no par value:
Authorized shares	250,000	250,000	250,000
Issued shares	9,668	9,617	9,644	469,357			466,267			468,564
Retained deficit				(234,134		)	(205,739		)	(208,184		)
Accumulated other comprehensive loss				(62,854		)	(37,704		)	(66,386		)
Total stockholders’ equity of Alliance One International, Inc.				172,369			222,824			193,994
Noncontrolling interests				3,467			3,350			3,274
Total equity				175,836			226,174			197,268
				$	1,831,686		$	1,950,261		$	1,626,646
See notes to condensed consolidated financial statements

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Alliance One International, Inc. and Subsidiaries CONDENSED STATEMENTS OF CONSOLIDATED STOCKHOLDERS’ EQUITY (AS RESTATED) (Unaudited)
	Attributable to Alliance One International, Inc.
						Accumulated Other Comprehensive Loss
(in thousands)	Common Stock		Retained Deficit (As Restated)			Currency Translation Adjustment			Pensions, Net of Tax			Noncontrolling Interests			Total Equity (As Restated)
Balance, March 31, 2014	$	465,682	$	(182,054	)	$	(1,640	)	$	(36,686	)	$	3,295		$	248,597
Net loss	—		(23,685		)	—			—			55			(23,630		)
Stock-based compensation	585		—			—			—			—			585
Other comprehensive income, net of tax	—		—			208			414			—			622
Balance, June 30, 2014	$	466,267	$	(205,739	)	$	(1,432	)	$	(36,272	)	$	3,350		$	226,174
Balance, March 31, 2015	$	468,564	$	(208,184	)	$	(14,154	)	$	(52,232	)	$	3,274		$	197,268
Net loss	—		(25,950		)	—			—			(7		)	(25,957		)
Increase in capitalization of non-controlling interest	—		—			—			—			200			200
Stock-based compensation	793		—			—			—			—			793
Other comprehensive income, net of tax	—		—			2,307			1,225			—			3,532
Balance, June 30, 2015	$	469,357	$	(234,134	)	$	(11,847	)	$	(51,007	)	$	3,467		$	175,836
See notes to condensed consolidated financial statements

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Alliance One International, Inc. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (AS RESTATED)  Three Months Ended June 30, 2015 and 2014 (Unaudited)
(in thousands)	June 30, 2015 (As Restated)			June 30, 2014 (As Restated)
Operating activities
Net loss	$	(25,957	)	$	(23,630	)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	7,064			7,500
Debt amortization/interest	2,596			1,889
(Gain) loss on foreign currency transactions	1,143			(331		)
Restructuring and asset impairment charges	2,948			—
Stock-based compensation	1,104			750
Changes in operating assets and liabilities, net	(222,717		)	(334,560		)
Other, net	(234		)	175
Net cash used by operating activities	(234,053		)	(348,207		)
Investing activities
Purchases of property, plant and equipment	(6,179		)	(8,052		)
Proceeds from sale of property, plant and equipment	446			409
Restricted cash	(577		)	(1,114		)
Other, net	8			(719		)
Net cash used by investing activities	(6,302		)	(9,476		)
Financing activities
Net proceeds from short-term borrowings	79,440			329,572
Proceeds from long-term borrowings	185,000			—
Repayment of long-term borrowings	(242		)	(75,489		)
Debt issuance cost	(3,847		)	(4,125		)
Other, net	200			—
Net cash provided by financing activities	260,551			249,958
Effect of exchange rate changes on cash	(103		)	(854		)
Increase (decrease) in cash and cash equivalents	20,093			(108,579		)
Cash and cash equivalents at beginning of period	143,849			234,778
Cash and cash equivalents at end of period	$	163,942		$	126,199
Other information:
Cash paid for income taxes	$	6,177		$	2,638
Cash paid for interest	10,233			5,380
Cash received from interest	(1,370		)	(1,276		)
See notes to condensed consolidated financial statements

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Alliance One International, Inc. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (AS RESTATED) (in thousands)

Note 1A - Restatement of Previously Issued Consolidated Financial Statements

In the course of downsizing and terminating certain operations of Alliance One Tobacco (Kenya) Limited (“AOTK”), and preparing our financial statements for the quarter ended September 30, 2015, the Company identified errors in accounts receivable, inventory, sales and cost of goods sold in AOTK. Specifically, the value of inventory was overstated due to improper accounting for shrinkage, deferred crop costs, lower of cost or market valuations and accurate inventory counts. Further, sales and other operating revenues, and trade and other receivables, net were incorrectly stated due to improper revenue recognition for external sales. As a result of these errors, we have restated our audited consolidated financial statements for the years ended March 31, 2015, 2014 and 2013 and our unaudited condensed consolidated financial information for the three months ended June 30, 2015 and 2014 on this Form 10-Q/A. See the Company’s Annual Report on Form 10-K/A for the fiscal year ended March 31, 2015 for further information.

As of June 30, 2015, the correction of these errors decreased the reported amount of inventory by approximately $40 million, decreased accounts receivable by approximately $5 million, and decreased retained earnings by approximately $45 million. Approximately $39 million of the decrease in retained earnings is related to March 31, 2015 and prior periods, with a portion in each quarter dating back to fiscal 2011. Further, these corrections decreased operating income for the three months ended June 30, 2015 by approximately $6 million.

Along with restating our financial statements to correct the errors discussed above, we are making adjustments for certain previously identified immaterial accounting errors related to the periods covered by this Form 10-Q/A. When these financial statements were originally issued, we assessed the impact of these errors and concluded that they were not material to our financial statements for the three months ended June 30, 2015 and 2014. However, in conjunction with our need to restate our financial statements as a result of the errors above, we have determined that it would be appropriate within this Form 10-Q/A to make adjustments for all such previously unrecorded adjustments.

The combined impacts of all the adjustments to the applicable line items in our unaudited consolidated financial statements for the periods covered by this Form 10Q/A are provided in the tables below.

Financial Statement Presentation

In addition to the restatement of our consolidated financial statements, we have also restated the following Notes for the effects of the errors above.

• Note 1. Summary of Significant Accounting Policies

• Note 2. Income Taxes

• Note 6. Variable Interest Entities

• Note 7. Segment Information

• Note 8. Earnings Per Share

• Note 13. Pension and Postretirement Benefits

• Note 14. Inventories

• Note 15. Other Comprehensive Income (Loss)

• Note 19. Investee Companies

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Alliance One International, Inc. and Subsidiaries

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

The following tables present the effect of the correction of the error on selected line items of our previously reported unaudited condensed consolidated financial statements for the three months ended June 30, 2015 and 2014:

	Condensed Consolidated Statements of Operations
	Three Months Ended June 30,
							2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)			As Restated
Sales and other operating revenues	$	263,812		$	—		$	2,923	$	(455	)	$	266,282
Cost of goods and services sold	229,598			8,456			—		(1,172		)	236,884
Gross profit (loss)	34,214			(8,456		)	2,923		717			29,398
Selling, general and administrative expenses	29,939			—			—		(25		)	29,914
Other income (expense)	586			—			—		(26		)	560
Operating income (loss)	1,913			(8,456		)	2,923		716			(2,904		)
Interest expense	27,691			—			—		82			27,773
Income (loss) before income taxes and other items	(24,404		)	(8,456		)	2,923		634			(29,303		)
Income tax expense (benefit)	(1,362		)	(2,174		)	202		120			(3,214		)
Net income (loss)	(22,910		)	(6,282		)	2,721		514			(25,957		)
Net income (loss) attributable to Alliance One International, Inc.	(22,903		)	(6,282		)	2,721		514			(25,950		)
Income (loss) per share:
Basic	(2.58		)	(0.71		)	0.31		0.06			(2.93		)
Diluted	(2.58		)	(0.71		)	0.31		0.06			(2.93		)

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Alliance One International, Inc. and Subsidiaries

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

	Condensed Consolidated Statements of Operations
	Three Months Ended June 30,
								2014
(in thousands)		As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Sales and other operating revenues		$	249,017		$	—		$	125		$	—		$	249,144
Cost of goods and services sold		213,913			3,797			—			(1,839		)	215,873
Gross profit (loss)		35,104			(3,797		)	125			1,839			33,271
Selling, general and administrative expenses		31,325			—			—			—			31,325
Other income		800			—			—			—			800
Operating income (loss)		4,579			(3,797		)	125			1,839			2,746
Interest expense		26,922			—			—			—			26,922
Income (loss) before income taxes and other items		(20,992		)	(3,797		)	125			1,839			(22,825		)
Income tax expense (benefit)		(2,914		)	6,325			(3,167		)	76			320
Net income (loss)		(18,563		)	(10,122		)	3,292			1,763			(23,630		)
Net income (loss) attributable to Alliance One International, Inc.		(18,618		)	(10,122		)	3,292			1,763			(23,685		)
Income (loss) per share:
Basic		(2.12		)	(1.15		)	0.37			0.20			(2.69		)
Diluted		(2.12		)	(1.15		)	0.37			0.20			(2.69		)

	Condensed Consolidated Statements of Comprehensive Income (Loss)
	Three Months Ended June 30,
							2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)		As Restated
Net income (loss)	$	(22,910	)	$	(6,282	)	$	2,721	$	514	$	(25,957	)
Total comprehensive income (loss), net of tax	(19,603		)	(6,282		)	2,721		739		(22,425		)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(19,596		)	(6,282		)	2,721		739		(22,418		)

	Condensed Consolidated Statements of Comprehensive Income (Loss)
	Three Months Ended June 30,
							2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)		As Restated
Net income (loss)	$	(18,563	)	$	(10,122	)	$	3,292	$	1,763	$	(23,630	)
Total comprehensive income (loss), net of tax	(17,941		)	(10,122		)	3,292		1,763		(23,008		)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(17,996		)	(10,122		)	3,292		1,763		(23,063		)

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Alliance One International, Inc. and Subsidiaries

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

	June 30, 2015
Condensed Consolidated Balance Sheets (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Trade and other receivables, net	$	177,759		$	—		$	(4,536	)	$	—		$	173,223
Inventories	926,018			(40,121		)	—			—			885,897
Total current assets	1,471,926			(40,121		)	(4,536		)	—			1,427,269
Investments in unconsolidated affiliates	54,508			—			—			—			54,508
Deferred income taxes, net	29,394			—			—			1,505			30,899
Total assets	1,874,838			(40,121		)	(4,536		)	1,505			1,831,686
Accounts payable	77,758			—			—			389			78,147
Income taxes	9,740			(2,196		)	20			1,906			9,470
Total current liabilities	660,371			(2,196		)	20			2,295			660,490
Deferred income taxes	5,227			—			—			(3,749		)	1,478
Liability for unrecognized tax benefits	8,226			—			—			2,296			10,522
Pension, postretirement and other long-term benefits	89,301			—			—			—			89,301
Retained deficit	(192,316		)	(37,925		)	(4,556		)	663			(234,134		)
Accumulated other comprehensive loss	(62,854		)	—			—			—			(62,854		)
Total stockholders' equity of Alliance One International, Inc.	214,187			(37,925		)	(4,556		)	663			172,369
Total equity	217,654			(37,925		)	(4,556		)	663			175,836
Total liabilities and stockholders' equity	1,874,838			(40,121		)	(4,536		)	1,505			1,831,686

	June 30, 2014
Condensed Consolidated Balance Sheets (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Trade and other receivables, net	$	186,860		$	—		$	(8,918	)	$	—		$	177,942
Inventories	1,014,413			(20,735		)	—			—			993,678
Total current assets	1,530,361			(20,735		)	(8,918		)	—			1,500,708
Investments in unconsolidated affiliates	50,927			—			—			530			51,457
Deferred income taxes, net	40,878			—			—			—			40,878
Total assets	1,979,384			(20,735		)	(8,918		)	530			1,950,261
Accounts payable	89,054			—			—			—			89,054
Income taxes	9,619			7,131			(3,438		)	(4,791		)	8,521
Total current liabilities	799,432			7,131			(3,438		)	(4,791		)	798,334
Deferred income taxes	5,752			—			—			2,098			7,850
Liability for unrecognized tax benefits	9,526			—			—			2,985			12,511
Pension, postretirement and other long-term benefits	79,719			—			—			250			79,969
Retained deficit	(172,606		)	(27,866		)	(5,480		)	213			(205,739		)
Accumulated other comprehensive loss	(37,479		)	—			—			(225		)	(37,704		)
Total stockholders' equity of Alliance One International, Inc.	256,182			(27,866		)	(5,480		)	(12		)	222,824
Total equity	259,532			(27,866		)	(5,480		)	(12		)	226,174
Total liabilities and stockholders' equity	1,979,384			(20,735		)	(8,918		)	530			1,950,261

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Alliance One International, Inc. and Subsidiaries

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

Condensed Statements 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, 2014	$	(153,988	)	$	(17,744	)	$	(8,772	)	$	(1,550	)	$	(182,054	)
Net loss	(18,618		)	(10,122		)	3,292			1,763			(23,685		)
Retained Deficit at June 30, 2014	(172,606		)	(27,866		)	(5,480		)	213			(205,739		)
Retained Deficit at March 31, 2015	(169,413		)	(31,643		)	(7,277		)	149			(208,184		)
Net loss	(22,903		)	(6,282		)	2,721			514			(25,950		)
Retained Deficit at June 30, 2015	(192,316		)	(37,925		)	(4,556		)	663			(234,134		)
Accumulated Other Comprehensive Income (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Pensions, Net of Tax at March 31, 2014	$	(36,461	)	$	—		$	—		$	(225	)	$	(36,686	)
Pensions, Net of Tax at June 30, 2014	(36,047		)	—			—			(225		)	(36,272		)
Pensions, Net of Tax at March 31, 2015	(52,007		)	—			—			(225		)	(52,232		)
Other comprehensive loss, net of tax for three months ended June 30, 2015	1,000			—			—			225			1,225
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Total Stockholders' Equity at March 31, 2014	$	276,888		$	(17,744	)	$	(8,772	)	$	(1,775	)	$	248,597
Net Loss	(18,563		)	(10,122		)	3,292			1,763			(23,630		)
Total Stockholders' Equity at June 30, 2014	259,532			(27,866		)	(5,480		)	(12		)	226,174
Total Stockholders' Equity at March 31, 2015	236,264			(31,643		)	(7,277		)	(76		)	197,268
Net Loss	(22,910		)	(6,282		)	2,721			514			(25,957		)
Other comprehensive loss, net of tax	3,307			—			—			225			3,532
Total Stockholders' Equity at June 30, 2015	217,654			(37,925		)	(4,556		)	663			175,836

	Condensed Statement of Consolidated Cash Flows for June 30, 2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(22,910	)	$	(6,282	)	$	2,721		$	514		$	(25,957	)
Changes in operating assets and liabilities, net	(225,764		)	6,282			(2,721		)	(514		)	(222,717		)

	Condensed Statement of Consolidated Cash Flows for June 30, 2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(18,563	)	$	(10,122	)	$	3,292		$	1,763		$	(23,630	)
Changes in operating assets and liabilities, net	(339,591		)	10,122			(3,292		)	(1,799		)	(334,560		)
Net cash used by operating acitivities	(348,171		)	—			—			(36		)	(348,207		)
Increase (decrease) in cash and cash equivalents	(108,543		)	—			—			(36		)	(108,579		)
Cash and cash equivalents at beginning of period	234,742			—			—			36			234,778

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Alliance One International, Inc. and Subsidiaries

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

(1) Adjustments per the errors described above 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 for the errors described above related to improper revenue recognition.

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

1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (AS RESTATED)

Basis of Presentation

Because of the seasonal nature of the Company’s business, the results of operations for any fiscal quarter will not necessarily be indicative of results to be expected for other quarters or a full fiscal year. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of financial position, results of operation and cash flows at the dates and for the periods presented have been included. The unaudited information included in this Form 10-Q/A should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K/A for the fiscal year ended March 31, 2015.

Beginning April 1, 2015, the Company's management ceased evaluating performance of value added services as a separate operating segment. The Company's cut rag and other specialty products and services are now combined within the geographic operating segments in which they operate. The Company reviewed certain long-term financial performance and economic characteristics such as nature of products and services, production processes, type or class of customer, distribution methods for products and services, and regulatory environment. Based on review of the aggregation criteria, the Company concluded that Africa, Asia, Europe, and South America share similar economic indicators and are aggregated into one reportable segment “Other Regions.” The Company concluded that the economic characteristics of North America are dissimilar from the other operating segments and is disclosing it separately.               

Taxes Collected from Customers

Certain subsidiaries are subject to value added taxes on local sales. These amounts have been included in sales and cost of sales and were $5,675 and $6,241 for the three months ended June 30, 2015 and 2014, respectively.

Other Deferred Charges

Other deferred charges are primarily deferred financing costs that are amortized over the life of the debt.

New Accounting Standards

Recent Accounting Pronouncements Not Yet Adopted

In May 2014, the Financial Accounting Standards Board ("FASB") issued new accounting guidance that outlines a single comprehensive model to use in accounting for revenue from contracts with customers. The primary objective of this accounting guidance is to recognize revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. This accounting guidance is effective for the Company on April 1, 2018. The Company is currently evaluating the impact of this new guidance.

     In August 2014, the FASB issued new accounting guidance on determining when and how to disclose going concern uncertainties in the financial statements. The primary objective of this accounting guidance is for management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. This accounting guidance is effective for the Company on March 31, 2017. The Company is currently evaluating the impact of this new guidance.

In April 2015, the FASB issued new accounting guidance that changes the presentation of debt issuance costs in financial statements. The primary objective of this accounting guidance is to present these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is still reported as interest expense. This accounting guidance is effective for the Company on April 1, 2016. The Company is currently evaluating the impact of this new guidance.

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Alliance One International, Inc. and Subsidiaries

2. INCOME TAXES

Accounting for Uncertainty in Income Taxes

As of June 30, 2015, the Company’s unrecognized tax benefits totaled $17,522, all of which would impact the Company’s effective tax rate if recognized.

         The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. As of June 30, 2015, accrued interest and penalties totaled $1,174 and $905 respectively.

         The Company expects to continue accruing interest expense related to the unrecognized tax benefits described above. Additionally, the Company may be subject to fluctuations in the unrecognized tax liability due to currency exchange rate movements.

         The Company does not foresee any reasonably possible changes in the unrecognized tax benefits in the next twelve months but acknowledges circumstances can change due to unexpected developments in the law. In certain jurisdictions, tax authorities have challenged positions that the Company has taken that resulted in recognizing benefits that are material to its financial statements. The Company believes it is more likely than not that it will prevail in these situations and accordingly has not recorded liabilities for these positions. The Company expects the challenged positions to be settled at a time greater than twelve months from its balance sheet date.

         The Company and its subsidiaries file a U.S. federal consolidated income tax return as well as returns in several U.S. states and a number of foreign jurisdictions. As of June 30, 2015, the Company’s earliest open tax year for U.S. federal income tax purposes is its fiscal year ended March 31, 2012; however, the Company's net operating loss carryovers from prior periods remain subject to adjustment. Open tax years in state and foreign jurisdictions generally range from three to six years.

Provision for the Three Months Ended June 30, 2015

The effective tax rate used for the three months ended June 30, 2015 was 11.0% compared to (1.4)% for the three months ended June 30, 2014. The effective tax rates for these periods are based on the current estimate of full year results including the effect of taxes related to discrete events which are recorded in the interim period in which they occur. The difference in the effective tax rate in one year compared to another is the result of many factors that include, but are not limited to, differences in forecasted income for the respective years, differences in year-to-date income for the periods, certain losses for which no tax benefit is recorded; and, differences between discrete items recognized for the periods that include changes in valuation allowances, net exchanges losses on income tax accounts and net exchange gains related to liabilities for unrecognized tax benefits.

         For the three months ended June 30, 2015, the Company recorded a discrete event adjustment expense of $1,762, bringing the effective tax rate estimated for the three months of 5.0% to 11.0%. This discrete event adjustment expense relates primarily to net exchange losses on income tax accounts and net exchange gains related to liabilities for unrecognized tax benefits. For the three months ended June 30, 2014 , the Company recorded a discrete event adjustment benefit of $1,335, bringing the effective tax rate estimated for the three months of (7.3)% to (1.4)%. This discrete event adjustment benefit relates primarily to net exchange losses on income tax accounts and net exchange gains related to liabilities for unrecognized tax benefits. The significant difference in the estimated effective tax rate for the three months ended June 30, 2015 from the U.S. federal statutory rate is primarily due to net exchange losses on income tax accounts, foreign income tax rates lower than the U.S. rate and certain losses for which no benefit is currently recorded.

3. GUARANTEES

The Company and certain of its foreign subsidiaries guarantee bank loans to suppliers to finance their crops. Under longer-term arrangements, the Company may also guarantee financing on suppliers’ construction of curing barns or other tobacco production assets. Guaranteed loans are generally repaid concurrent with the delivery of tobacco to the Company. The Company is obligated to repay any guaranteed loan should the supplier default. If default occurs, the Company has recourse against the supplier. The Company also guarantees bank loans of certain unconsolidated subsidiaries in Asia, Brazil and Zimbabwe.

         The following table summarizes amounts guaranteed and the fair value of those guarantees:

	June 30, 2015		June 30, 2014		March 31, 2015
Amounts guaranteed (not to exceed)	$	276,566	$	283,228	$	300,557
Amounts outstanding under guarantee	165,222		186,522		185,486
Fair value of guarantees	7,723		7,262		8,650

         Of the guarantees outstanding at June 30, 2015, all expire within one year. The fair value of guarantees is recorded in Accrued Expenses and Other Current Liabilities in the Condensed Consolidated Balance Sheets and included in crop costs except for Zimbabwe and the joint venture in Brazil which is included in Accounts Receivable, Related Parties.

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Alliance One International, Inc. and Subsidiaries

3. GUARANTEES (continued)

         In Brazil, certain suppliers obtain government subsidized rural credit financing from local banks that is guaranteed by the Company. The Company withholds amounts owed to suppliers related to the rural credit financing of the supplier upon delivery of tobacco to the Company. The Company remits payments to the local banks on behalf of the guaranteed suppliers. Terms of rural credit financing are such that repayment is due to local banks based on contractual due dates. As of June 30, 2015 and 2014 and March 31, 2015, respectively, the Company had balances of $11,212, $15,863 and $16,412 that were due to local banks on behalf of suppliers. These amounts are included in Accounts Payable in the Condensed Consolidated Balance Sheets.

4. RESTRUCTURING AND ASSET IMPAIRMENT CHARGES

During the quarter ended March 31, 2015, the Company announced the first phase of a global restructuring plan focusing on efficiency and cost improvements. The Company reviewed origin and corporate operations and initiatives were implemented to increase operational efficiency and effectiveness. These initiatives continue to occur as the Company restructures certain operations not meeting strategic business objectives and performance metrics. During the three months ended June 30, 2015, the Company recorded $375 of additional employee severance charges and $2,573 of asset impairment charges in connection with the restructuring of certain operations primarily in Africa. The asset impairment charges are for unrecoverable tobacco supplier advances and tobacco production property and equipment due to exiting and redefining the Company’s position in certain African markets. At June 30, 2015, the costs of any future initiatives are not estimable.

The following table summarizes the restructuring charges recorded in the Company’s reporting segments during the three months ended June 30, 2015 and 2014, respectively:

	Three Months Ended June 30,
Restructuring and Asset Impairment Charges	2015			2014
Employee separation and other cash charges:
Beginning balance	$	8,087		$	397
Period charges:
Severance charges	375			—
Total period charges	375			—
Payments through June 30	(1,246		)	(296		)
Ending balance June 30	$	7,216		$	101
Asset impairment and other non-cash charges	$	2,573		$	—
Total restructuring charges for the period	$	2,948		$	—

On April 1, 2015, the Company revised its reportable segments. See Note 1 "Basis of Presentation and Significant Accounting Policies" to the "Notes to Condensed Consolidated Financial Statements." The following table summarizes the employee separations and other cash charges recorded in the Company's North America and Other Regions segment during the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
Employee Separation and Other Cash Charges	2015			2014
Beginning balance:	$	8,087		$	397
North America	—			—
Other regions	8,087			397
Period charges:	$	375		$	—
North America	—			—
Other regions	375			—
Payments through June 30	$	(1,246	)	$	(296	)
North America	—			—
Other regions	(1,246		)	(296		)
Ending balance June 30	$	7,216		$	101
North America	—			—
Other regions	7,216			101

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Alliance One International, Inc. and Subsidiaries

5. GOODWILL AND INTANGIBLES

Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to amortization, but rather is tested for impairment annually or whenever events and circumstances indicate that an impairment may have occurred. The Company has chosen the first day of the last quarter of its fiscal year as the date to perform its annual goodwill impairment test.

         The Company has no intangible assets with indefinite useful lives. It does have intangible assets which are amortized. The following table summarizes the changes in the Company’s goodwill and other intangibles for the periods provided below:

			Amortizable Intangibles
	Goodwill (1)		Customer Relationship Intangible			Production and Supply Contract Intangibles			Internally Developed Software Intangible			Total
Weighted average remaining useful     life in years as of June 30, 2015			9.75			5.50			—
March 31, 2014 balance
Gross carrying amount	$	2,794	$	33,700		$	14,893		$	17,804		$	69,191
Accumulated amortization	—		(14,954		)	(4,752		)	(14,760		)	(34,466		)
Net March 31, 2014	2,794		18,746			10,141			3,044			34,725
Additions	—		—			—			269			269
Amortization expense	—		(421		)	(146		)	(192		)	(759		)
Net June 30, 2014	2,794		18,325			9,995			3,121			34,235
Additions	—		—			—			429			429
Amortization expense	—		(1,264		)	(888		)	(621		)	(2,773		)
Net March 31, 2015	2,794		17,061			9,107			2,929			31,891
Amortization expense	—		(421		)	(270		)	(206		)	(897		)
Net June 30, 2015	$	2,794	$	16,640		$	8,837		$	2,723		$	30,994

(1) Goodwill of $2,794 relates to the North America segment.

         The following table summarizes the estimated future intangible asset amortization expense:

For Fiscal Years Ended	Customer Relationship Intangible		Production and Supply Contract Intangible		Internally Developed Software Intangible*		Total
July 1, 2015 through March 31, 2016	$	1,264	$	2,189	$	1,071	$	4,524
2017	1,685		1,405		740		3,830
2018	1,685		1,403		512		3,600
2019	1,685		1,397		259		3,341
2020	1,685		1,396		141		3,222
Later	8,636		1,047		—		9,683
	$	16,640	$	8,837	$	2,723	$	28,200

*  Estimated amortization expense for the internally developed software is based on costs accumulated as of June 30, 2015. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

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Alliance One International, Inc. and Subsidiaries

6. VARIABLE INTEREST ENTITIES

The Company holds variable interests in seven joint ventures that are accounted for under the equity method of accounting. These joint ventures primarily procure or process inventory on behalf of the Company and the other joint venture partners. The variable interests relate to equity investments and advances made by the Company to the joint ventures. In addition, the Company also guarantees two of its joint venture’s borrowings which also represents a variable interest in those joint ventures. The Company is not the primary beneficiary, as it does not have the power to direct the activities that most significantly impact the economic performance of the entities as a result of the entities’ management and board of directors structure. Therefore, these entities are not consolidated. At June 30, 2015 and 2014, and March 31, 2015, the Company’s investment in these joint ventures was $53,491, $50,441, and $53,678, respectively and is classified as Investments in Unconsolidated Affiliates in the Condensed Consolidated Balance Sheets. The Company’s advances to these joint ventures at June 30, 2015 and 2014, and March 31, 2015, respectively were $3,796, $8,222 and $3,293 and are classified as Accounts Receivable, Related Parties in the Condensed Consolidated Balance Sheets. The Company guaranteed an amount to two joint ventures not to exceed $111,622, $137,333 and $105,983 at June 30, 2015 and 2014, and March 31, 2015, respectively. The investments, advances and guarantees in these joint ventures represent the Company’s maximum exposure to loss.

7. SEGMENT INFORMATION

The Company purchases, processes, sells and stores leaf tobacco. Tobacco is purchased in more than 35 countries and shipped to approximately 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.

Beginning April 1, 2015, the Company has revised its reportable segments. Prior year segment data has been recast to conform with the current year segment presentation. See Note 1 "Basis of Presentation and Significant Accounting Policies" to the "Notes to Condensed Consolidated Financial Statements" for further information.         

    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 the purchase of the product or the service provided through sale based on the source of the product or service and all intercompany transactions are allocated to the operating segment that either purchases or processes the tobacco.

          The following table presents the summary segment information for the three months ended June 30, 2015 and 2014:       

	Three Months Ended June 30,
	2015			2014
Sales and other operating revenues:
North America	$	30,300		$	35,389
Other regions	235,982			213,755
Total revenue	$	266,282		$	249,144
Operating income:
North America	$	871		$	2,034
Other regions	(3,775		)	712
Total operating income (loss)	(2,904		)	2,746
Interest expense	27,773			26,922
Interest income	1,374			1,351
Loss before income taxes and other items	$	(29,303	)	$	(22,825	)

Analysis of Segment Assets		June 30, 2015		June 30, 2014		March 31, 2015
Segment assets:
	North America	$	328,461	$	259,968	$	231,131
	Other regions	1,503,225		1,690,293		1,395,515
	Total assets	$	1,831,686	$	1,950,261	$	1,626,646

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Alliance One International, Inc. and Subsidiaries

8. EARNINGS PER SHARE

After the close of all trading on June 26, 2015, the Company’s approved 1-for-10 reverse stock split of its common stock became effective. As a result, every 10 shares of Alliance One common stock outstanding were combined into one share of Alliance One common stock, reducing the number of outstanding shares of the Company’s common stock at June 26, 2015 from approximately 88.6 million shares to approximately 8.86 million shares. This change did not affect any shareholder’s rights. No fractional shares were issued in connection with the reverse stock split. Instead, the Company issued one full share of the post-reverse stock split common stock to any shareholder who would have been entitled to receive a fractional share as a result of the reverse stock split. Each common shareholder holds the same percentage of the outstanding common stock immediately following the reverse split as that shareholder did immediately prior to the reverse split, except for minor adjustments due to the additional net share fraction issued as a result of the treatment of fractional shares. For the three months ended June 30, 2014, the weighted average number of common shares has been restated to a post-reverse stock split-adjusted basis.

The weighted average number of common shares outstanding is reported as the weighted average of the total shares of common stock outstanding net of shares of common stock held by a wholly owned subsidiary. Shares of common stock owned by the subsidiary were 785 at June 30, 2015 and 2014. This subsidiary waives its right to receive dividends and it does not have the right to vote.

          Certain potentially dilutive options were not included in the computation of earnings per diluted share because their exercise prices were greater than the average market price of the shares of common stock during the period and their effect would be antidilutive. These shares totaled 656 at a weighted average exercise price of $60.39 per share at June 30, 2015 and 686 at a weighted average exercise price of $60.42 per share at June 30, 2014.

          In connection with the offering of the Company’s 5.5% Convertible Senior Subordinated Notes due 2014, issued on July 2, 2009 (the “Convertible Notes”), the Company entered into privately negotiated convertible note hedge transactions (the “convertible note hedge transactions”) equal to the number of shares that underlie the Company’s Convertible Notes. These convertible note hedge transactions were designed to reduce the potential dilution of the Company’s common stock upon conversion of the Convertible Notes in the event that the value per share of common stock exceeded the initial conversion price of $50.28 per share on a post-reverse stock split basis. These shares were not included in the computation of earnings per diluted share because their inclusion would be antidilutive. The Convertible Notes matured during the three months ended September 30, 2014.

          The following table summarizes the computation of earnings per share for the three months ended June 30, 2015 and 2014, respectively.

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Alliance One International, Inc. and Subsidiaries

8. EARNINGS PER SHARE (continued)

	Three Months Ended June 30,
(in thousands, except per share data)	2015				2014
BASIC LOSS
Net loss attributable to Alliance One International, Inc.	$	(25,950	)		$	(23,685	)
SHARES
Weighted average number of shares outstanding	8,862				8,799
BASIC LOSS PER SHARE	$	(2.93	)		$	(2.69	)
DILUTED LOSS
Net loss attributable to Alliance One International, Inc.	$	(25,950	)		$	(23,685	)
Plus interest expense on 5 1/2% convertible notes,    net of tax	—				—			*
Net loss attributable to Alliance One International, Inc.          as adjusted	$	(25,950	)		$	(23,685	)
SHARES
Weighted average number of common shares    outstanding	8,862				8,799
Plus: Restricted shares issued and shares applicable to               stock options and restricted stock units, net of              shares assumed to be purchased from proceeds              at average market price	—			*	—			*
Assuming conversion of 5 1/2% convertible               notes at the time of issuance	—				—			*
Shares applicable to stock warrants	—			**	—			**
Adjusted weighted average number of common   shares outstanding	8,862				8,799
DILUTED LOSS PER SHARE	$	(2.93	)		$	(2.69	)
* Assumed conversion of convertible notes at the beginning of the period has an antidilutive effect on earnings per share. The convertible notes matured during the three months ended September 30, 2014. All outstanding restricted shares and shares applicable to stock options and restricted stock units are excluded because their inclusion would have an antidilutive effect on the loss per share.
** For the three months ended June 30, 2015 and 2014, the warrants were not assumed exercised because the exercise price was more than the average price for the periods presented. The warrants began expiring October 15, 2014 and were fully expired on April 8, 2015.

9. STOCK-BASED COMPENSATION

The Company recorded stock-based compensation expense related to stock-based awards granted under its various employee and non-employee stock incentive plans of $1,104 and $750 for the three months ended June 30, 2015 and 2014, respectively, of which $291 and $19, respectively were with respect to stock-based awards payable in cash.

          The Company’s shareholders approved amendments to the 2007 Incentive Plan (the “2007 Plan”) at its annual meetings of shareholders held on August 11, 2011 and August 6, 2009. The 2007 Plan is an omnibus plan that provides the flexibility to grant a variety of equity awards including stock options, stock appreciation rights, stock awards, stock units, performance awards and incentive awards to officers, directors and employees of the Company.

          During the three months ended June 30, 2015 and 2014, respectively, the Company made the following stock-based compensation awards on a post-split basis:

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Alliance One International, Inc. and Subsidiaries

9. STOCK-BASED COMPENSATION (continued)

	Three Months Ended June 30,		Three Months Ended June 30,
(in thousands, except grant date fair value)	2015		2014
Restricted Stock
Number Granted	6		—
Grant Date Fair Value	$	23.91	—
Restricted Stock Units
Number Granted	—		22
Grant Date Fair Value	$	—	$	27.20
Cash-Settled Restricted Stock Units
Number Granted	—		44
Grant Date Fair Value	$	—	$	27.20
PerformanceBased Stock Units
Number Granted	—		22
Grant Date Fair Value	$	—	$	27.20
Cash-Settled Performance Based Stock Units
Number Granted	—		44
Grant Date Fair Value	$	—	$	27.20

          Under the terms of the Performance Based Stock Units, shares ultimately issued will be contingent upon specified business performance goals. Unrestricted stock consists of shares issued to non-employee directors of the Company which are not subject to a minimum vesting period.

10. CONTINGENCIES AND OTHER INFORMATION

Non-Income Tax

The government in the Brazilian State of Parana (“Parana”) issued a tax assessment on October 26, 2007 with respect to local intrastate trade tax credits that result primarily from tobacco transferred between states within Brazil. The assessment for intrastate trade tax credits taken is $4,246 and the total assessment including penalties and interest at June 30, 2015 is $12,273. The Company believes it has properly complied with Brazilian law and will contest any assessment through the judicial process. Should the Company lose in the judicial process, the loss of the intrastate trade tax credits would have a material impact on the financial statements of the Company.  The Company also has local intrastate trade tax credits in the Brazilian State of Santa Catarina. This jurisdiction permits the sale or transfer of excess credits to third parties, however approval must be obtained from the tax authorities. The Company has an agreement with the state government regarding the amounts and timing of credits that can be sold. The tax credits have a carrying value of $5,890 at June 30, 2015, which is net of impairment charges based on management’s expectations about future realization. The intrastate trade tax credits will continue to be monitored for impairment in future periods based on market conditions and the Company’s ability to use or sell the tax credits.

         In 1969, the Brazilian government created a tax credit program that allowed companies to earn IPI tax credits (“IPI credits”) based on the value of their exports. The government began to phase out this program in 1979, which resulted in numerous lawsuits between taxpayers and the Brazilian government. The Company has a long legal history with respect to credits it earned while the IPI credit program was in effect. In 2001, the Company won a claim related to certain IPI credits it earned between 1983 and 1990. The Brazilian government appealed this decision and numerous rulings and appeals were rendered on behalf of both the government and the Company from 2001 through 2013. Because of this favorable ruling, the Company began to use these earned IPI credits to offset federal taxes in 2004 and 2005, until it received a Judicial Order to suspend the IPI offsetting in 2005. The value of the federal taxes offset in 2004 and 2005 was $24,142 and the Company established a reserve on these credits at the time of offsetting as they were not yet realizable due to the legal uncertainty that existed. Specifically, the Company extinguished other federal tax liabilities using IPI credits and recorded a liability in Pension, Postretirement and Other Long-Term Liabilities to reflect that the credits were not realizable at that time due to the prevalent legal uncertainty. On March 7, 2013, the Brazilian Supreme Court rendered a final decision in favor of the Company that recognized the validity of the IPI credits and secured the Company's right to benefit from the IPI credits earned from March 1983 to October 1990. This final decision expressly stated the Company has the right to the IPI credits. The Company estimated the total amount of the IPI credits to be approximately $94,316 at March 31, 2013. Since the March 2013 ruling definitively (without the government's ability to appeal) granted the Company the ownership of the IPI credits generated between 1983 and 1990 the Company believed the amount of IPI credits that were used to offset other federal taxes in 2004 and 2005 were realizable beyond a reasonable doubt. Accordingly, and at March 31, 2013, the Company

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Alliance One International, Inc. and Subsidiaries

10. CONTINGENCIES AND OTHER INFORMATION (continued)

Non-Income Tax (continued)

recorded the $24,142 IPI credits it realized in the Statements of Consolidated Operations in Other Income. No further benefit has been recognized pending the outcome of the judicial procedure to ascertain the final amount as those amounts have not yet been

realized.

Other

Mindo, S.r.l., the purchaser in 2004 of the Company's Italian subsidiary Dimon Italia, S.r.l., asserted claims against a subsidiary of the Company arising out of that sale transaction in an action filed before the Court of Rome on April 12, 2007.  The claim involved a guaranty letter issued by a consolidated subsidiary of the Company in connection with the sale transaction, and sought the recovery of €7,400 plus interest and costs.On November 11, 2013, the court issued its judgment in favor of the Company’s subsidiary, rejecting the claims asserted by Mindo, S.r.l., and awarding the Company’s subsidiary legal costs of €48.  On December 23, 2014, Mindo, S.r.l. appealed the judgment of the Court of Rome to the Court of Appeal of Rome.  A hearing before the Court of Appeal of Rome was held on June 12, 2015, which was adjourned pending a further hearing set for February 2018.  The outcome of, and timing of a decision on, the appeal are uncertain.

          In addition to the above-mentioned matter, certain of the Company’s subsidiaries are involved in other litigation or legal matters incidental to their business activities, including tax matters.  While the outcome of these matters cannot be predicted with certainty, the Company is vigorously defending them and does not currently expect that any of them will have a material adverse effect on its business or financial position. However, should one or more of these matters be resolved in a manner adverse to its current expectation, the effect on the Company’s results of operations for a particular fiscal reporting period could be material.

          In accordance with generally accepted accounting principles, the Company records all known asset retirement obligations (“ARO”) for which the liability can be reasonably estimated. Currently, it has identified an ARO associated with one of its facilities that requires it to restore the land to its initial condition upon vacating the facility. The Company has not recognized a liability under generally accepted accounting principles for this ARO because the fair value of restoring the land at this site cannot be reasonably estimated since the settlement date is unknown at this time. The settlement date is unknown because the land restoration is not required until title is returned to the government, and the Company has no current or future plans to return the title. The Company will recognize a liability in the period in which sufficient information is available to reasonably estimate its fair value.

11. DEBT ARRANGEMENTS

At June 30, 2015, $185,000 was outstanding under the senior secured revolving credit facility. The Company continuously monitors its compliance with the covenants of its senior secured revolving credit facility and its senior notes. Significant changes in market conditions or other factors could adversely affect the Company's business and future debt covenant compliance thereunder. As a result, the Company may not be able to maintain compliance with the covenants over the next twelve months. If the Company were unable to maintain compliance with the covenants in the senior secured revolving credit facility agreement, as amended from time-to-time, the Company would seek modification to the existing agreement to further amend covenants and extend maturities.

          If the Company were unable to obtain modification, in a scenario where it is required, the Company could decide to pay off outstanding amounts and terminate the agreement. In such case, the liquidity provided by the agreement would not be available and the Company believes that it has sufficient liquidity from operations and other available funding sources to meet future requirements.

          As amended, the senior secured credit facility restricts the Company from paying any dividends during the remaining term of the facility. In addition, the indenture governing the Company's senior notes contains similar restrictions and also prohibits the payment of dividends and other distributions if the Company fails to satisfy a ratio of consolidated EBITDA to fixed charges of at least 2.0 to 1.0. At June 30, 2015, the Company did not satisfy this fixed charge coverage ratio. The Company may from time to time not satisfy this ratio.

On May 20, 2016, the Company entered into the Fourth Amendment to Amended and Restated Credit Agreement (the "Fourth Amendment"), which amended the Credit Agreement as described in Note 20 “Subsequent Events” of the Notes to the Condensed Consolidated Financial Statements (As Restated).

12. DERIVATIVE FINANCIAL INSTRUMENTS

Fair Value of Derivative Financial Instruments

The Company recognizes all derivative financial instruments, such as foreign exchange contracts at fair value. Changes in the fair value of derivative financial instruments are either recognized periodically in income or in shareholders’ equity as a component of other comprehensive income depending on whether the derivative financial instrument qualifies for hedge accounting, and if so, whether it qualifies as a fair value hedge or a cash flow hedge. The Company has elected not to offset fair value amounts recognized for derivative instruments with the same counterparty under a master netting agreement. See Note 17 “Fair Value Measurements” to the “Notes to Condensed Consolidated Financial Statements” for further information on fair value methodology.

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Alliance One International, Inc. and Subsidiaries

 12. DERIVATIVE FINANCIAL INSTRUMENTS (continued)

The following table summarizes the fair value of the Company’s derivatives by type at June 30, 2015 and 2014, and March 31, 2015.

	Fair Values of Derivative Instruments
	Assets			Liabilities
Derivatives Not Designated as Hedging Instruments:	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Foreign currency contracts at June 30, 2015	Other Current Assets	$	609	Accrued Expenses and Other Current Liabilities	$	—
Foreign currency contracts at June 30, 2014	Other Current Assets	$	1,550	Accrued Expenses and Other Current Liabilities	$	—
Foreign currency contracts at March 31, 2015	Other Current Assets	$	1,373	Accrued Expenses and Other Current Liabilities	$	—

Earnings Effects of Derivatives

The Company periodically enters into forward or option currency contracts to protect against volatility associated with certain non-U.S. dollar denominated forecasted transactions. These contracts are for green tobacco purchases and processing costs as well as selling, general and administrative costs as the Company deems necessary. These contracts do not meet the requirements for hedge accounting treatment under generally accepted accounting principles, and as such, all changes in fair value are reported in income each period.

          The following table summarizes the earnings effects of derivatives in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2015 and 2014.

		Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	Three Months Ended June 30,
		2015			2014
Foreign currency contracts	Cost of goods and services sold	$	(1,392	)	$	2,072

Credit Risk

Financial instruments, including derivatives, expose the Company to credit loss in the event of non-performance by counterparties. The Company manages its exposure to counterparty credit risk through specific minimum credit standards, diversification of counterparties, and procedures to monitor concentrations of credit risk. If a counterparty fails to meet the terms of an arrangement, the Company’s exposure is limited to the net amount that would have been received, if any, over the arrangement’s remaining life. The Company does not anticipate non-performance by the counterparties and no material loss would be expected from non-performance by any one of such counterparties.

13. PENSION AND POSTRETIREMENT BENEFITS

The Company has multiple benefit plans at several locations. The Company has a defined benefit plan that provides retirement benefits for substantially all U.S. salaried personnel based on years of service rendered, age and compensation. The Company also maintains various other Excess Benefit and Supplemental Plans that provide additional benefits to (1) certain individuals whose compensation and the resulting benefits that would have actually been paid are limited by regulations imposed by the Internal Revenue Code and (2) certain individuals in key positions. The Company funds these plans in amounts consistent with the funding requirements of federal law and regulations.

         Additional non-U.S. defined benefit plans sponsored by certain subsidiaries cover certain full-time employees located in Germany, Turkey, and the United Kingdom.

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Alliance One International, Inc. and Subsidiaries

13. PENSION AND POSTRETIREMENT BENEFITS (continued)

Components of Net Periodic Benefit Cost

Net periodic pension cost for continuing operations consisted of the following:

	Three Months Ended June 30,
	2015			2014
Service cost	$	502		$	510
Interest expense	1,462			1,693
Expected return on plan assets	(1,554		)	(1,677		)
Amortization of prior service cost	42			48
Actuarial loss	849			557
Net periodic pension cost	$	1,301		$	1,131

Employer Contributions

The Company’s investment objectives are to generate consistent total investment return to pay anticipated plan benefits, while minimizing long-term costs. Financial objectives underlying this policy include maintaining plan contributions at a reasonable level relative to benefits provided and assuring that unfunded obligations do not grow to a level to adversely affect the Company’s financial health. For the three months ended June 30, 2015, contributions of $2,127 were made to pension plans for fiscal 2016. Additional contributions to pension plans of approximately $6,552 are expected during the remainder of fiscal 2016. However, this amount is subject to change, due primarily to asset performance significantly above or below the assumed long-term rate of return on pension assets and significant changes in interest rates.

Postretirement Health and Life Insurance Benefits

The Company also provides certain health and life insurance benefits to retired employees, and their eligible dependents, who meet specified age and service requirements. As of June 30, 2015, contributions of $170 were made to the plans for fiscal 2016. Additional contributions of $560 to the plans are expected during the rest of fiscal 2016. The Company retains the right, subject to existing agreements, to modify or eliminate the postretirement medical benefits.

Components of Net Periodic Benefit Cost

Net periodic benefit cost for postretirement health and life insurance benefit plans consisted of the following:

	Three Months Ended June 30,
	2015			2014
Service cost	$	10		$	11
Interest expense	111			134
Amortization of prior service cost	(3		)	(303		)
Actuarial loss	112			111
Net periodic pension cost (benefit)	$	230		$	(47	)

14. INVENTORIES

The following table summarizes the Company’s costs in inventory:

	June 30, 2015		June 30, 2014		March 31, 2015
Processed tobacco	$	640,558	$	636,354	$	490,674
Unprocessed tobacco	201,553		312,641		206,760
Other	43,786		44,683		43,509
	$	885,897	$	993,678	$	740,943

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Alliance One International, Inc. and Subsidiaries

15. OTHER COMPREHENSIVE INCOME (LOSS)

The following tables set forth the changes in each component of accumulated other comprehensive loss, net of tax, attributable to the Company:

	Currency Translation Adjustment			Pensions, Net of Tax			Accumulated Other Comprehensive Loss
Balances, March 31, 2015	$	(14,154	)	$	(52,232	)	$	(66,386	)
Other comprehensive earnings before reclassifications	2,307			225			2,532
Amounts reclassified to net earnings, net of tax	—			1,000			1,000
Other comprehensive earnings, net of tax	2,307			1,225			3,532
Balances, June 30, 2015	$	(11,847	)	$	(51,007	)	$	(62,854	)
Balances, March 31, 2014	$	(1,640	)	$	(36,686	)	$	(38,326	)
Other comprehensive earnings before reclassifications	208			—			208
Amounts reclassified to net earnings, net of tax	—			414			414
Other comprehensive earnings, net of tax	208			414			622
Balances, June 30, 2014	$	(1,432	)	$	(36,272	)	$	(37,704	)

The following table sets forth amounts by component, reclassified from accumulated other comprehensive loss to earnings for the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
	2015		2014
Pension and postretirement plans (*):
Actuarial loss	$	961	$	669
Amortization of prior service cost	39		(255		)
	$	1,000	$	414
Amounts reclassified from accumulated other comprehensive losses to net earnings	$	1,000	$	414

(*) Amounts are included in net periodic benefit costs for pension and postretirement plans. See Note 13 "Pension and

Postretirement Benefits" to the "Notes to Condensed Consolidated Financial Statements" for further information.

16. SALE OF RECEIVABLES

The Company sells trade receivables to unaffiliated financial institutions under three accounts receivable securitization programs. Under the first program, the Company continuously sells a designated pool of trade receivables to a special purpose entity, which in turn sells 100% of the receivables to an unaffiliated financial institution. During the three months ended June 30, 2015, the designated pool was adjusted from up to $250,000 trade receivables to $150,000 trade receivables. This program allows the Company to receive a cash payment and a deferred purchase price receivable for sold receivables. Following the sale and transfer of the receivables to the special purpose entity, the receivables are isolated from the Company and its affiliates, and upon the sale and transfer of the receivables from the special purpose entity to the unaffiliated financial institution effective control of the receivables is passed to the unaffiliated financial institution, which has all rights, including the right to pledge or sell the receivables. This program requires a minimum level of deferred purchase price to be retained by the Company in connection with the sales. The Company services, administers and collects the receivables on behalf of the special purpose entity and receives a servicing fee of 0.5% of serviced receivables per annum. As the Company estimates the fee it receives in return for its obligation to service these receivables at fair value, no servicing assets or liabilities are recognized. Servicing fees recognized were not material and are recorded as a reduction of Selling, General and Administrative Expenses within the Condensed Consolidated Statements of Operations.

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Alliance One International, Inc. and Subsidiaries

16. SALE OF RECEIVABLES (continued)

The agreements for the second and third securitization programs also allow the Company to receive a cash payment and a deferred purchase price receivable for sold receivables. These are uncommitted programs, whereby the Company offers receivables for sale to the respective unaffiliated financial institution, which are then subject to acceptance by the unaffiliated financial institution. Following the sale and transfer of the receivables to the unaffiliated financial institution, the receivables are isolated from the Company and its affiliates, and effective control of the receivables is passed to the unaffiliated financial institution, which

has all rights, including the right to pledge or sell the receivables. The Company receives no servicing fee from the unaffiliated financial institution and as a result, has established a servicing liability based upon unobservable inputs, primarily discounted cash flow. This liability is recorded in Accrued Expenses and Other Current Liabilities in the Condensed Consolidated Balance Sheets. The investment limits under these agreements are $35,000 and $100,000, respectively.

          Under the programs, all of the receivables sold for cash are removed from the Condensed Consolidated Balance Sheets and the net cash proceeds received by the Company are included as cash provided by operating activities in the Condensed Consolidated Statements of Cash Flows. A portion of the purchase price for the receivables is paid by the unaffiliated financial institutions in cash and the balance is a deferred purchase price receivable, which is paid as payments on the receivables are collected from account debtors. The deferred purchase price receivable represents a continuing involvement and a beneficial interest in the transferred financial assets and is recognized at fair value as part of the sale transaction. The deferred purchase price receivables are included in Trade and Other Receivables, Net in the Condensed Consolidated Balance Sheets and are valued using unobservable inputs (i.e., level three inputs), primarily discounted cash flow. As servicer of these facilities, the Company may receive funds that are due to the unaffiliated financial institutions which are net settled on the next settlement date. Trade and Other Receivables, Net in the Condensed Consolidated Balance Sheets has been reduced by $22,090, $13,721 and $20,396 as a result of the net settlement as of June 30, 2015 and 2014 and March 31, 2015, respectively. See Note 17 "Fair Value Measurements" to the "Notes to Condensed Consolidated Financial Statements" for further information.

          The difference between the carrying amount of the receivables sold under these programs and the sum of the cash and fair value of the other assets received at the time of transfer is recognized as a loss on sale of the related receivables and recorded in Other Income (Expense) in the Condensed Consolidated Statements of Operations.

          The following table summarizes the Company’s accounts receivable securitization information as of the dates shown:

	June 30,				March 31,
	2015		2014		2015
Receivables outstanding in facility	$	109,400	$	70,506	$	235,162
Beneficial interest	$	23,256	$	24,883	$	40,712
Servicing liability	$	22	$	43	$	131
Cash proceeds for the three months ended June 30:
Cash purchase price	$	82,672	$	41,637	$	622,844
Deferred purchase price	44,663		38,502		229,573
Service fees	167		172		589
Total	$	127,502	$	80,311	$	853,006

17. FAIR VALUE MEASUREMENTS

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. A three-level valuation hierarchy based upon observable and non-observable inputs is utilized. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy:

• Level 1 - Quoted prices for identical assets or liabilities in active markets.

• Level 2 - Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

• Level 3 - Significant inputs to the valuation model are unobservable.

          The Company's financial assets and liabilities measured at fair value include derivative instruments, securitized beneficial interests and guarantees. The application of the fair value guidance to the non-financial assets and liabilities primarily includes assessments of investments in subsidiaries, goodwill and other intangible assets and long-lived assets for potential impairment.

          Following are descriptions of the valuation methodologies the Company uses to measure different assets or liabilities at fair value.

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Alliance One International, Inc. and Subsidiaries

17. FAIR VALUE MEASUREMENTS (continued)

Debt

The fair value of debt is measured for purpose of disclosure. Debt is shown at historical value in the Condensed Consolidated Balance Sheets. When possible, to measure the fair value of its debt the Company uses quoted market prices of its own debt with approximately the same remaining maturities. When this is not possible, the fair value of debt is calculated using discounted cash flow models with interest rates based upon market based expectations, the Company's credit risk and the contractual terms of the debt instrument. The Company also has portions of its debt with maturities of one year or less for which book value is a reasonable approximation of the fair value of this debt. The fair value of debt is considered to fall within Level 2 of the fair value hierarchy as significant value drivers such as interest rates are readily observable. The carrying value and estimated fair value of the Company's Long-Term Debt are shown in the table below.

	June 30, 2015		June 30, 2014		March 31, 2015
Carrying value	$	926,953	$	829,752	$	741,837
Estimated fair value	855,886		864,938		653,548

Derivative financial instruments

The Company's derivatives consist of foreign currency contracts. The fair value of the derivatives are determined using a discounted cash flow analysis on the expected future cash flows of each derivative. This analysis utilizes observable market data including forward yield curves and implied volatilities to determine the market's expectation of the future cash flows of the variable component. The fixed and variable components of the derivative are then discounted using calculated discount factors developed based on the LIBOR swap rate and are netted to arrive at a single valuation for the period. The Company also incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. As of June 30, 2015 and 2014 and March 31, 2015 the inputs used to value the Company's derivatives fall within Level 2 of the fair value hierarchy. However, credit valuation adjustments associated with its derivatives could utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. Should the use of such credit valuation adjustment estimates result in a significant impact on the overall valuation, this would require reclassification to Level 3.

Securitized beneficial interests

The fair value of securitized beneficial interests is based upon a valuation model that calculates the present value of future expected cash flows using key assumptions for payment speeds and discount rates. The assumptions for payment speed are based on the Company's historical experience. The discount rates are based upon market trends and anticipated performance relative to the particular assets securitized which have been assumed to be commercial paper rate plus a margin or LIBOR plus a margin. Due to the use of the Company's own assumptions and the uniqueness of these transactions, securitized beneficial interests fall within Level 3 of the fair value hierarchy. Since the discount rate and the payment speed are components of the same equation, a change in either by 10% or 20% would change the value of the recorded beneficial interest at June 30, 2015 by $72 and $144, respectively.

Guarantees

The Company guarantees funds issued to tobacco suppliers by third party lending institutions and also guarantees funds borrowed by certain unconsolidated subsidiaries. The fair value of guarantees is based upon either the premium the Company would require to issue the same inputs or historical loss rates and as such these guarantees fall into Level 3 of the fair value hierarchy.

Tobacco supplier guarantees - The Company provides guarantees to third parties for indebtedness of certain tobacco suppliers to finance their crops. The fair value of these guarantees is determined using historical loss rates on both guaranteed and non-guaranteed tobacco supplier loans. Should the loss rates change 10% or 20%, the fair value of the guarantee at June 30, 2015 would change by $690 or $1,366, respectively.

Unconsolidated subsidiary guarantees - The fair value of these guarantees is determined using a discounted cash flow model based on the differential between interest rates available with and without the guarantees. The fair value of these guarantees is most closely tied to the theoretical interest rate differential. Should interest rates used in the model change by 10% or 20%, the fair value of the guarantee, at June 30, 2015 would change by $525 or $1,039, respectively.

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Alliance One International, Inc. and Subsidiaries

17. FAIR VALUE MEASUREMENTS(continued)

Input Hierarchy of Items Measured at Fair Value on a Recurring Basis

The following table summarizes the items measured at fair value on a recurring basis:

	June 30, 2015						June 30, 2014						March 31, 2015
					Total Assets /						Total Assets /						Total Assets /
					Liabilities						Liabilities						Liabilities
	Level 2		Level 3		at Fair Value		Level 2		Level 3		at Fair Value		Level 2		Level 3		at Fair Value
Assets
Derivative financial instruments	$	609	$	—	$	609	$	1,550	$	—	$	1,550	$	1,373	$	—	$	1,373
Securitized beneficial interests	—		23,256		23,256		—		24,883		24,883		—		40,712		40,712
Total Assets	$	609	$	23,256	$	23,865	$	1,550	$	24,883	$	26,433	$	1,373	$	40,712	$	42,085
Liabilities
Guarantees	$	—	$	7,723	$	7,723	$	—	$	7,262	$	7,262	$	—	$	8,650	$	8,650
Derivative financial instruments	—		—		—		—		—		—		—		—		—
Total liabilities	$	—	$	7,723	$	7,723	$	—	$	7,262	$	7,262	$	—	$	8,650	$	8,650

Reconciliation of Change in Recurring Level 3 Balances

The following tables present the changes in Level 3 instruments measured on a recurring basis.

	Three Months Ended June 30, 2015
	Securitized Beneficial Interests			Guarantees
Beginning Balance, March 31, 2015	$	40,712		$	8,650
Issuances of guarantees/sales of receivables	33,782			4,557
Settlements	(51,167		)	(5,484		)
Losses recognized in earnings	(71		)	—
Ending Balance June 30, 2015	$	23,256		$	7,723

	Three Months Ended June 30, 2014
	Securitized Beneficial Interest			Guarantees
Beginning Balance, March 31, 2014	$	35,559		$	7,344
Issuances of guarantees/sales of receivables	21,513			4,281
Settlements	(31,725		)	(4,363		)
Losses recognized in earnings	(464		)	—
Ending Balance June 30, 2014	$	24,883		$	7,262

The amount of unrealized losses relating to assets still held at the respective dates of June 30, 2015 and 2014 and March 31, 2015 were $733, $509 and $2,034 on securitized beneficial interests.

          Gains and losses included in earnings are reported in Other Income.

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Alliance One International, Inc. and Subsidiaries

17. FAIR VALUE MEASUREMENTS(continued)

Information About Fair Value Measurements Using Significant Unobservable Inputs

The following table summarizes significant unobservable inputs and the valuation techniques thereof at June 30, 2015:

	Fair Value at June 30, 2015			Unobservable Input	Range (Weighted Average)
Securitized Beneficial Interests	$	23,256	Discounted Cash Flow	Discount Rate	2.73% to 2.79%
				Payment Speed	82 to 99 days
Tobacco Supplier Guarantees	$	2,075	Historical Loss	Historical Loss	10.80% to 15.77%
Tobacco Supplier Guarantees	$	2,923	Discounted Cash Flow	Market Interest Rate	13.00% to 21.95%
Unconsolidated Subsidiary Guarantees	$	2,725	Discounted Cash Flow	Market Interest Rate	12.00	%

18. RELATED PARTY TRANSACTIONS

The Company’s operating subsidiaries engage in transactions with related parties in the normal course of business. The following is a summary of balances and transactions with related parties of the Company:

	June 30, 2015		June 30, 2014		March 31, 2015
Balances:
Accounts receivable, related parties	$	89,285	$	76,672	$	41,816
Due to related parties	22,920		8,824		58,512

	Three Months Ended June 30,
	2015		2014
Transactions:
Sales	$	7,563	$	—
Purchases	22,651		18,100

          The Company’s operating subsidiaries have entered into transactions with affiliates of the Company for the purpose of procuring or processing inventory.

          The Company’s balances due to and from related parties are primarily with its deconsolidated Zimbabwe subsidiary. The remaining related party balances and transactions relate to the Company’s equity basis investments in companies located in Asia, South America, North America and Europe which purchase and process tobacco or produce consumable e-liquids.

19. INVESTEE COMPANIES

The Company has equity method investments in companies in India, Thailand, Turkey and Brazil that purchase and process tobacco. The investees and ownership percentages are as follows: Alliance One Industries India Private Ltd. (India) 49%, Siam Tobacco Export Company (Thailand) 49%, Adams International Ltd. (Thailand) 49%, Oryantal Tutun Paketleme 50%, and China Brasil Tobacos Exportadora SA (“CBT”) 49%. On April 2, 2014, the Company completed the purchase of a 50% interest in Purilum, LLC, a U.S. company that develops, produces, and sells consumable e-liquids to manufacturers and distributors of e-vapor products.

          On March 26, 2014, upon the disposition of 51% interest in CBT, the difference between the book basis of the Company’s 49% interest and the fair value of the investment recorded created a basis difference of $15,990. The Company evaluated the contributed assets and identified basis differences in certain accounts, including inventory, intangible assets and deferred taxes. The basis differences are being amortized over the respective estimated lives of these assets and liabilities, which range from one to ten years. The Company’s earnings from the equity method investment are reduced by amortization expense related to these basis differences. At June 30, 2015, the basis difference was $12,855.

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Alliance One International, Inc. and Subsidiaries

20. SUBSEQUENT EVENTS

On July 23, 2015, the Company’s deconsolidated Zimbabwe subsidiary experienced a fire at its warehouse located in Harare which stored a portion of the green tobacco from the most recent harvest in that country. In addition to destroying green tobacco, the fire severely damaged the building and other fixed assets. The Company maintains insurance which provides for the recovery of loss from fire, including lost profit. The timing, and the exact amount, of insurance recovery related to the Harare fire is uncertain and an extended delay in receiving the full anticipated insurance recovery could adversely affect liquidity.

On May 20, 2016, the Company entered into the Fourth Amendment to the Amended and Restated Credit Agreement (the “Fourth Amendment"), which amended the Credit Agreement dated as of July 2, 2009, as amended and restated as of August 1, 2013, between the Company, certain of its subsidiaries, the lenders party thereto and Deutsche Bank Trust Company Americas, as administrative agent (as so amended and restated, the “Credit Agreement”).

The Fourth Amendment effected the following modifications to the Credit Agreement (capitalized terms are as defined in the Credit Agreement):

• modified the threshold for the Consolidated Interest Coverage Ratio for the fiscal quarter ending March 31, 2017 from 1.90 to 1.00 to 1.65 to 1.00;

• modified the threshold for the Consolidated Leverage Ratio for the fiscal quarter ending March 31, 2017 from 5.10 to 1.00 to 5.50 to 1.00; and

• modified the definition of Consolidated EBIT to permit the add backs for the specified periods as set forth in the table below in connection with certain discrepancies discovered with respect to the Company’s Kenyan subsidiary:

For the Quarter Ended	Kenyan Discrepancies	Legal and Professional Costs in Respect of Kenyan Discrepancies
March 31, 2013	$(1,745,717)	0
June 30, 2013	$2,198,708	0
September 30, 2013	$(1,492,481)	0
December 31, 2013	$4,681,765	0
March 31, 2014	$7,869,112	0
June 30, 2014	$1,834,281	0
September 30, 2014	$6,606,350	0
December 31, 2014	$449,593	0
March 31, 2015	$3,577,392	0
June 30, 2015	$5,263,723	0
September 30, 2015	$5,821,224	0
December 31, 2015	0	$1,771,000
March 31, 2016	0	$6,129,000
June 30, 2016	0	$4,000,000
September 30, 2016	0	$3,500,000

Prior to the execution of the Fourth Amendment, the Company would have been in violation of one or more covenants in fiscal years 2014, 2015 and 2016 as a result of improper accounting for accounts receivable, inventory, sales and cost of goods sold in Kenya.  In the Fourth Amendment, the lenders modified certain financial covenants and definitions as described above and, as a result, the Company was in compliance with all such amended covenants for fiscal years 2013, 2014 and 2015, and as of and for the three months ended June 30, 2015.

Note that in March 2016, Moody's Investors Service downgraded the Corporate Family Rating of the Company to Caa2 from Caa1. Moody's also downgraded the Probability of Default Rating to Caa2-PD from Caa1-PD, and the senior secured second lien note rating to Caa3 with a Loss Given Default (“LGD”) of 5 from Caa2 and a LGD of 5. At the same time Moody's affirmed the Company's senior secured bank credit facility rating at B1 with a LGD of 1 and the Speculative Grade Liquidity Rating at SGL-4. Standard & Poor’s (“S&P”) ratings are Corporate Credit Rating CCC+, senior secured second lien note rating CCC with a recovery rating (“RR”) of 5 and a senior secured debt rating of B with a RR of 1. Both Moody’s and S&P have outlook negative.

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Alliance One International, Inc. and Subsidiaries

20. SUBSEQUENT EVENTS (continued)

However, the Company affirms its belief that the sources of capital it has access to are sufficient to fund its anticipated needs for fiscal years 2016 and 2017. As of March 31, 2016, available credit lines and cash were $604.5 million, comprised of $189.2 million in cash; $415.3 million of credit lines, of which $10.3 million was available under the U.S. revolving credit facility; and $405.0 million of foreign seasonal credit lines with $13.1 million exclusively for letters of credit. Notes payable to banks are typically for 180 to 270 days and are entered into each year in various locales around the world. The U.S revolver matures April 15, 2017 and the Company plans to either extend or refinance this facility during fiscal year 2017.  The Company's access to capital meets its current expectations and outlook that is anticipated to provide sufficient liquidity to fulfill its future funding requirements. General deterioration of its business and the cash flow that it generates, failure to renew foreign lines or an inability to extend or refinance its U.S. revolver could impact its ability to meet its future liquidity requirements.

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Alliance One International, Inc. and Subsidiaries

Item 2.    Management’s Discussion and Analysis of
                Financial Condition and Results of Operations (As Restated)

Beginning April 1, 2015, the Company's management ceased evaluating performance of its value added services as a separate operating segment. The Company's cut rag and other specialty products and services are now combined within the geographic operating segments in which they operate. In reviewing its operating segments, based on changes in its business, the Company has now concluded that the economic characteristics of North America are dissimilar from the other operating segments. As a result, the Company is disclosing North America separately and has aggregated the remaining four operating segments, Africa, Asia, Europe and South America into one reportable segment "Other Regions."

Restatement

As discussed in the Explanatory Note and in Note 1A of the Notes to Condensed Consolidated Financial Statements included in this Form 10-Q/A, we are restating our unaudited condensed consolidated financial statements and related disclosures for the three months ended June 30, 2015 and 2014. The following discussion and analysis of our financial condition and results of operations incorporates the restated amounts. For this reason, the data set forth in this Item 2 may not be comparable to the discussion and data in our previously filed quarterly reports on Form 10-Q for the quarters ended June 30, 2015 and 2014.

EXECUTIVE OVERVIEW

The following executive overview is intended to provide significant highlights of the discussion and analysis that follows.

Financial Results

Despite global oversupply and reduced average sales prices, our sales for the first quarter improved 6.9% versus last year primarily due to increased volumes shipped from South America and enhanced customer demand for Asian products. Gross profit and gross profit as a percentage of sales decreased driven by Brazilian Real hedging expense, change in product mix, customer processing requirements and the weather-related delay in crop timing. Selling, general and administrative expenses decreased mainly due to lower travel and legal and professional fees. Restructuring and asset impairment charges in the first quarter were primarily attributable to impairment of advances to tobacco suppliers and property in Africa, due to our restructuring initiative that began in the fourth quarter of last fiscal year. Operating income decreased primarily due to the current period restructuring charges.

Liquidity

Our liquidity requirements are affected by various factors including crop seasonality, foreign currency and interest rates, green tobacco prices, customer mix, crop size and quality. Again, this year, working capital and cash cycle improvements are focal areas. Our improved cost structure and well positioned inventories are important elements. Inventories are positioned below our internal plan and are below last year’s quarter-end. In addition, total debt less cash decreased $80.7 million when compared to the prior year, driven by the inventory reduction on lower green tobacco prices and a slow start to the current buying season. We will continue to monitor and adjust funding sources as needed to enhance and drive various business opportunities that maintain flexibility and meet cost expectations.

Outlook

Global markets are still in oversupply with some regions beginning to tighten. Market prices paid in U.S dollars for suppliers’ green tobacco have again been generally lower this year, and conditions highlighted since the end of fiscal year 2014 when global oversupply was building have continued. We anticipate that oversupply will further correct through the current crop cycle. The South American and African markets have been delayed by 4 to 6 weeks this year mainly related to weather. As a result, we have experienced a slow start that is expected to improve through the year with sales building each subsequent quarter and resulting in improved full-year revenue when compared to last fiscal year. We continue to make progress toward our global plans and strategies. Those plans include investing in sustainable tobacco production where appropriate returns are achievable, eliminating costs from the supply chain and optimizing our global footprint to match future customer requirements. We have made solid progress in all these initiatives during the quarter and expect execution of these plans to improve our results and shareholder value.

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Alliance One International, Inc. and Subsidiaries

RESULTS OF OPERATIONS (AS RESTATED)

Condensed Consolidated Statement of Operations and Supplemental Information
	Three Months Ended
	June 30,
					Change
(in millions, except per kilo amounts)	2015				$				%		2014
Kilos sold	55.6				7.9				16.6		47.7
Tobacco sales and other operating revenues:
Sales and other operating revenues	$	246.2			$	13.9			6.0		$	232.3
Average price per kilo	4.43				(0.44		)		(9.0	)	4.87
Processing and other revenues	20.1				3.3				19.6		16.8
Total sales and other operating revenues	266.3				17.2				6.9		249.1
Tobacco cost of goods sold:
Tobacco costs	203.1				7.7				3.9		195.4
Transportation, storage and other period costs	16.2				3.4				26.6		12.8
Derivative financial instrument and           exchange losses	3.9				5.1				425.0		(1.2		)
Total tobacco cost of goods sold	223.2				16.2				7.8		207.0
Average cost per kilo	4.01				(0.33		)		(7.6	)	4.34
Processing and other revenues cost of services sold	13.7				4.9				55.7		8.8
Total cost of goods and services sold	236.9				21.1				9.8		215.8
Gross profit	29.4				(3.9		)		(11.7	)	33.3
Selling, general and administrative expenses	29.9				(1.4		)		(4.5	)	31.3
Other income	0.6				(0.2		)		(25.0	)	0.8
Restructuring and asset impairment charges	2.9				2.9				100.0		—
Operating income (loss)	(2.9		)	*	(5.7		)	*	(203.6	)	2.8
Interest expense	27.8				0.9				3.3		26.9
Interest income	1.4				—				—		1.4
Income tax expense (benefit)	(3.2		)		(3.5		)		(1,166.7	)	0.3
Equity in net income (loss) of investee companies	0.1				0.6				120.0		(0.5		)
Income (loss) attributable to noncontrolling interests	—				—				—		—
Loss attributable to Alliance One International, Inc.	$	(25.9	)	*	$	(2.2	)	*	(9.3	)	$	(23.7	)	*
*  Amounts do not equal column totals due to rounding

Three Months Ended June 30, 2015 Compared to Three Months Ended June 30, 2014

Summary. Total sales and other operating revenues increased 6.9% to $266.3 million primarily due to a 16.6% increase in volumes resulting from the timing of shipments in South America and increased customer demand in Asia. Changes in product mix and customer mix in Asia lowered average sales prices and average tobacco costs on a per kilo basis. Processing revenue and cost of services increases are primarily related to processing for our former Brazilian subsidiary. As a result of the change in currency movement, increased losses on sales in Kenya, product mix and customer processing requirements, gross margin decreased 11.7% to $29.4 million and gross margin as a percentage of sales decreased from 13.4% to 11.0%. Selling, general and administrative expense ("SG&A") decreased primarily from lower travel and legal and professional fees. Restructuring and asset impairment charges in the current period are primarily attributable to impairment of advances to tobacco suppliers and real property in Africa as a result of our restructuring initiative that began in the prior fiscal year. Due to the changes in our results for the quarter, operating income decreased 200.0% to an operating loss of $2.8 million.

Our interest costs increased from the prior year primarily due to higher amortization of debt costs as lower average borrowings were offset by higher average rates. Our effective tax rate was 11.0% this year compared to (1.4)% last year. The variance in the effective tax rate between this year and last year is the result of many factors that include but are not limited to differences in forecasted income for the respective years; differences in year-to-date income for the quarters; certain losses for which no tax benefit is recorded; and, differences between discrete items recognized for the quarters that include changes in valuation allowanced, net exchanges losses on income tax accounts and net exchange gains related to liabilities for unrecognized tax benefits.

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Alliance One International, Inc. and Subsidiaries

Item 2.    Management’s Discussion and Analysis of
        Financial Condition and Results of Operations (As Restated) (continued)

Results of Operations (As Restated) (continued)

Three Months Ended June 30, 2015 Compared to Three Months Ended June 30, 2014 (continued)

North America Region

North America Region Supplemental Information (As Restated)
	Three Months Ended
			June 30,
			Change
	2015		$			%		2014
Kilos sold	5.9		(0.1		)	(1.7	)	6.0
Tobacco sales and other operating revenues:
Sales and other operating revenues	$	27.0	$	(2.7	)	(9.1	)	$	29.7
Average price per kilo	4.58		(0.37		)	(7.5	)	4.95
Processing and other revenues	3.3		(2.4		)	(42.1	)	5.7
Total sales and other operating revenues	30.3		(5.1		)	(14.4	)	35.4
Tobacco cost of goods sold:
Tobacco costs	21.3		(2.5		)	(10.5	)	23.8
Transportation, storage and other period costs	1.7		0.5			41.7		1.2
Derivative financial instrument and exchange losses	0.7		0.5			250.0		0.2
Total tobacco cost of goods sold	23.7		(1.5		)	(6.0	)	25.2
Average cost per kilo	4.02		(0.18		)	(4.3	)	4.20
Processing and other revenues cost of services sold	1.9		(1.5		)	(44.1	)	3.4
Total cost of goods and services sold	25.6		(3.0		)	(10.5	)	28.6
Gross profit	4.7		(2.1		)	(30.9	)	6.8
Selling, general and administrative expenses	3.8		(1.0		)	(20.8	)	4.8
Other income	—		—			—		—
Restructuring and asset impairment charges	—		—			—		—
Operating income	$	0.9	$	(1.1	)	(55.0	)	$	2.0

Total sales and other operating revenues decreased 14.4% to $30.3 million primarily due to a 7.5% decrease in average sales prices per kilo primarily due to product mix and a 42.1% decrease in processing and other revenues due to changes in customer requirements. Total volumes this year were consistent with the prior year although the lamina/byproduct mix changed. The change in product mix also lowered average tobacco costs and average tobacco costs on a per kilo basis. As a result of the change in product mix and customer processing requirements, gross margin decreased 30.9% to $4.7 million compared to last year. Gross margin as a percentage of sales decreased 3.7 percentage basis points from 19.2% to 15.5% primarily due to period costs of our new U.S. cut rag facility that is not fully operational yet. Reductions in SG&A were attributable to lower taxes and licenses and allocations for general corporate services. Operating income declined 55.0% from the prior year as a result of the impact of the change in results for the region.

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Alliance One International, Inc. and Subsidiaries

Item 2.    Management’s Discussion and Analysis of
                Financial Condition and Results of Operations (As Restated) (continued)

Results of Operations (As Restated) (continued)

Three Months Ended June 30, 2015 Compared to Three Months Ended June 30, 2014 (continued)

Other Regions

Other Regions Supplemental Information (As Restated)
	Three Months Ended
				June 30,
				Change
	2015			$			%		2014
Kilos sold	49.7			8.0			19.2		41.7
Tobacco sales and other operating revenues:
Sales and other operating revenues	$	219.2		$	16.6		8.2		$	202.6
Average price per kilo	4.41			(0.45		)	(9.3	)	4.86
Processing and other revenues	16.8			5.7			51.4		11.1
Total sales and other operating revenues	236.0			22.3			10.4		213.7
Tobacco cost of goods sold:
Tobacco costs	181.8			10.2			5.9		171.6
Transportation, storage and other period costs	14.5			2.9			25.0		11.6
Derivative financial instrument and exchange gains	3.2			4.6			328.6		(1.4		)
Total tobacco cost of goods sold	199.5			17.7			9.7		181.8
Average cost per kilo	4.01			(0.35		)	(8.0	)	4.36
Processing and other revenues cost of services sold	11.8			6.4			118.5		5.4
Total cost of goods and services sold	211.3			24.1			12.9		187.2
Gross profit	24.7			(1.8		)	(6.8	)	26.5
Selling, general and administrative expenses	26.1			(0.4		)	(1.5	)	26.5
Other income	0.6			(0.2		)	(25.0	)	0.8
Restructuring and asset impairment charges	2.9			2.9			100.0		—
Operating income (loss)	$	(3.7	)	$	(4.5	)	(562.5	)	$	0.8

Total sales and other operating revenues increased 10.4% to $236.0 million primarily due to a 19.2% increase in volumes sold primarily due to the timing of shipments in South America and increased customer demand in Asia. Average sales prices decreased 9.3% and average tobacco costs per kilo decreased 8.0% primarily due to product mix and customer mix in Asia. Processing and other revenues and processing costs increased primarily due to processing for our former Brazilian subsidiary and higher conversion costs in South America. As a result of increased losses on sales in Kenya, gross margin decreased 6.8% to $24.7 million. In addition, currency movement and hedging losses primarily in South America lowered gross margin as a percentage of sales from 12.4% to 10.5%. Decreases in SG&A are associated with reduced travel and legal and professional fees partially offset by lower allocations for general corporate services. Restructuring and asset impairment charges in the current year are primarily attributable to impairment of advances to tobacco suppliers and real property in Africa as a result of our restructuring initiative that began in the prior fiscal year. Primarily a result of restructuring and asset impairment charges, operating income decreased 562.5% to an operating loss of $3.7 million this year.

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Alliance One International, Inc. and Subsidiaries

LIQUIDITY AND CAPITAL RESOURCES:

Overview

Our business is seasonal, and purchasing, processing and selling activities have several associated peaks where cash on hand and outstanding indebtedness may be significantly greater or less than at fiscal year-end. We utilize capital in excess of cash flow from operations to finance accounts receivable, inventory and advances to tobacco suppliers in foreign countries, including Argentina, Brazil, Guatemala, Malawi, Tanzania, Turkey and Zambia. In addition, from time to time, we may elect to purchase, redeem, repay, retire or cancel indebtedness prior to stated maturity under our various foreign credit lines, senior secured credit agreement or indentures, as permitted therein.

As of June 30, 2015, we are approaching the seasonally adjusted high for our South American crop lines as we are completing purchasing and processing in these markets with shipping stepping into full mode. In Africa, purchasing will continue through August in most sourcing areas while processing and consequently shipping will peak in the second and third quarters. In Asia, the Chinese crop is fully processed and the Thai crops are fully purchased, with significant shipping still to come, while some Indian traditional crop is still left to purchase and process. The Indonesian purchasing season begins in August. Europe has completed purchases of the 2015 crop and is finishing processing with most shipping to come. North America is preparing to begin flue cured purchasing in August with processing and shipping to follow, which will commence its seasonally elevated working capital needs. Fluctuation of the U.S. dollar versus many of the currencies in which we have costs may continue to have an impact on our working capital requirements; as such, we will monitor and hedge foreign currency costs actively, and as needed on a currency-by-currency basis.

Working Capital (As Restated)

Our working capital increased from $632.7 million at March 31, 2015 to $766.8 million at June 30, 2015. Our current ratio was 2.2 to 1 at June 30, 2015 and 2.1 to 1 at March 31, 2015. The increase in working capital is primarily related to the seasonal buildup of inventories and advances to tobacco suppliers related to the timing of the Africa and South America crop cycles including the net advances to our Zimbabwe operation that is partially offset by the seasonal increase in notes payable to banks.

         The following table is a summary of items from the Condensed Consolidated Balance Sheets and Condensed Statements of Consolidated Cash Flows. Approximately $76.4 million of our outstanding cash balance at June 30, 2015 was held in foreign jurisdictions. As a result of our cash needs abroad, it is our intention to permanently reinvest these funds in foreign jurisdictions regardless of the fact that, due to the valuation allowance on foreign tax credit carryovers, the cost of repatriation would not have a material financial impact.

	As of
	June 30,						March 31,
(in millions except for current ratio)	2015			2014			2015
Cash and cash equivalents	$	163.9		$	126.2		$	143.8
Trade and other receivables, net	173.2			177.9			193.4
Inventories and advances to tobacco suppliers	933.2			1,052.2			778.7
Total current assets	1,427.3			1,500.7			1,217.1
Notes payable to banks	401.1			541.2			330.3
Accounts payable	78.1			89.1			73.3
Advances from customers	20.0			40.9			18.9
Total current liabilities	660.5			798.3			584.4
Current ratio	2.2 to 1			1.9 to 1			2.1 to 1
Working capital	766.8			702.4			632.7
Long-term debt	894.1			825.4			738.9
Stockholders’ equity attributable to Alliance One International, Inc.	172.4			222.8			194.0
Net cash provided (used) by:
Operating activities	(234.1		)	(348.2		)	(55.2		)
Investing activities	(6.3		)	(9.5		)	(11.7		)
Financing activities	260.6			250.0			(23.4		)

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Alliance One International, Inc. and Subsidiaries

LIQUIDITY AND CAPITAL RESOURCES: (continued)

Operating Cash Flows

Net cash used by operating activities decreased $114.1 million in 2015 compared to 2014. The decrease in cash used was primarily due to less cash used for inventories and advances to tobacco suppliers in response to the timing of shipments and delays in the purchasing of the current African crops, and less cash used for receivables as well as payables in accordance with payment terms and timing of shipments. These decreases in cash used were partially offset by less cash from customer advances related to changes in customer requirements.

Investing Cash Flows

Net cash used by investing activities decreased $3.2 million in 2015 compared to 2014. The decrease in cash used was primarily due to decreased purchases of property, plant and equipment due to timing of investment in capital assets and restrictions on cash in accordance with terms.

Financing Cash Flows

Net cash provided by financing activities increased $10.6 million in 2015 compared to 2014. This increase is primarily due to increased proceeds from our revolver and lower repayment of long-term debt in accordance with terms. Partially offsetting the cash provided by net long-term borrowings is lower net proceeds from short-term borrowings due to lower tobacco inventory levels than the prior year as a result of the timing of shipments and the delay in purchasing the current crop in most African markets.

Debt Financing

We continue to finance our business with a combination of short-term and long-term seasonal credit lines, our senior secured revolving credit facility, long-term debt securities, customer advances and cash from operations when available. At June 30, 2015, we had cash of $163.9 million and total debt outstanding of $1,328.1 million comprised of $431.1 million of short-term and long-term notes payable to banks, $185.0 million of borrowings under the senior secured revolving credit facility, $3.9 million of other long-term debt and $708.1 million of 9.875% senior secured second lien notes. The $70.8 million seasonal increase in notes payable to banks from March 31, 2015 to June 30, 2015 results from anticipated seasonal fluctuation to account for borrowings under the South America and Africa credit lines. Aggregated peak borrowings by facility occurring at anytime during the three months ended June 30, 2015 and 2014, respectively, were $504.8 million at a weighted average interest rate of 4.9% and $540.5 million at a weighted average interest rate of 4.7%. Aggregated peak borrowings by facility occurring at anytime during the three months ended June 30, 2015 and 2014 were repaid with cash provided by operating activities. Available credit as of June 30, 2015 was $525.1 million comprised of $25.3 million under our senior secured revolving credit facility, $488.3 million of notes payable to banks and $11.5 million of availability exclusively for letters of credit. In fiscal 2016, we expect to incur capital expenditures of approximately $20.0 million for routine replacement of equipment as well as investment in assets that will add value to the customer or increase efficiency. No cash dividends were paid to stockholders during the quarter ended June 30, 2015 and payment of dividends is restricted under the terms of our senior secured revolving credit facility and the indenture governing our senior notes. We believe that these sources of liquidity versus our requirements will be sufficient to fund our anticipated needs for the next twelve months.

Note that in March 2016, Moody's Investors Service downgraded the Corporate Family Rating of the Company to Caa2 from Caa1. Moody's also downgraded the Probability of Default Rating to Caa2-PD from Caa1-PD, and the senior secured second lien note rating to Caa3 with a Loss Given Default (“LGD”) of 5 from Caa2 and a LGD of 5. At the same time Moody's affirmed the Company's senior secured bank credit facility rating at B1 with a LGD of 1 and the Speculative Grade Liquidity Rating at SGL-4. Standard & Poor’s (“S&P”) ratings are Corporate Credit Rating CCC+, senior secured second lien note rating CCC with a recovery rating (“RR”) of 5 and a senior secured debt rating of B with a RR of 1. Both Moody’s and S&P have outlook negative. However, the Company affirms its belief that the sources of capital it has access to are sufficient to fund its anticipated needs for fiscal years 2016 and 2017. As of March 31, 2016, available credit lines and cash were $604.5 million, comprised of $189.2 million in cash; $415.3 million of credit lines, of which $10.3 million was available under the U.S. revolving credit facility; and $405.0 million of foreign seasonal credit lines with $13.1 million exclusively for letters of credit. Notes payable to banks are typically for 180 to 270 days and are entered into each year in various locales around the world. The U.S revolver matures April 15, 2017 and the Company plans to either extend or refinance this facility during fiscal year 2017.  The Company's access to capital meets its current expectations and outlook that is anticipated to provide sufficient liquidity to fulfill its future funding requirements. General deterioration of its business and the cash flow that it generates, failure to renew foreign lines or an inability to extend or refinance its U.S. revolver could impact its ability to meet its future liquidity requirements.

On May 20, 2016, we entered into the Fourth Amendment to Amended and Restated Credit Agreement (the "Fourth Amendment"), which amended the Credit Agreement as described in Note 20 “Subsequent Events” of Notes to Condensed Consolidated Financial Statements (As Restated).

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Alliance One International, Inc. and Subsidiaries

LIQUIDITY AND CAPITAL RESOURCES: (continued)

Debt Financing (continued)

All debt agreements contain certain cross-default or cross-acceleration provisions. The following table summarizes our debt financing as of June 30, 2015:

					June 30, 2015
	Outstanding				Lines and
	March 31,		June 30		Letters		Interest
	2015		2015		Available		Rate
Senior secured credit facility:
Revolver (1)	$	—	$	185.0	25.3		5.6	%
Senior notes:
9.875% senior notes due 2021	707.7		708.1		—		9.9	%
Long-term foreign seasonal borrowings	30.0		30.0		—		2.7	%
Other long-term debt	4.1		3.9		—		7.3	%	(2)
Notes payable to banks (3)	330.3		401.1		488.3		5.2	%	(2)
Total debt	$	1,072.1	1,328.1		513.6
Short term	$	330.3	$	401.1
Long term:
Long term debt current	$	2.9	$	32.9
Long term debt	738.9		894.1
	$	741.8	$	927.0
Letters of credit	$	6.3	$	6.2	11.5
Total credit available					$	525.1
(1)  As of June 30, 2015 pursuant to Section 2.1 (A) (iv) of the Credit Agreement, the full Revolving Committed Amount was available based on the calculation of the lesser of the Revolving Committed Amount and the Working Capital Amount.
(2)  Weighted average rate for the three months ended June 30, 2015.
(3)  Primarily foreign seasonal lines of credit

Foreign Seasonal Lines of Credit

We have typically financed our non-U.S. operations with uncommitted unsecured short-term seasonal lines of credit at the local level. These operating lines are seasonal in nature, normally extending for a term of 180 to 270 days corresponding to the tobacco crop cycle in that location. These facilities are typically uncommitted in that the lenders have the right to cease making loans and demand repayment of loans at any time. These loans are typically renewed at the outset of each tobacco season. As of June 30, 2015, we had approximately $401.1 million drawn and outstanding on foreign seasonal lines with maximum capacity totaling $907.1 million subject to limitations as provided for in the agreement governing our revolving credit facility. Additionally against these lines there was $11.5 million available in unused letter of credit capacity with $6.2 million issued but unfunded.

         The Company also has foreign seasonal borrowings with a maturity greater than one year. As of June 30, 2015, approximately $30.0 million was drawn and outstanding with a maximum capacity totaling $30.0 million.

- 39 -

Alliance One International, Inc. and Subsidiaries

RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED:

In May 2014, the Financial Accounting Standards Board ("FASB") issued new accounting guidance that outlines a single comprehensive model to use in accounting for revenue from contracts with customers. The primary objective of this accounting guidance is to recognize revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. This accounting guidance is effective for the Company on April 1, 2018. The Company is currently evaluating the impact of this new guidance.

         In August 2014, the FASB issued new accounting guidance on determining when and how to disclose going concern uncertainties in the financial statements. The primary objective of this accounting guidance is for management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. This accounting guidance is effective for the Company on March 31, 2017. The Company is currently evaluating the impact of this new guidance.

In April 2015, the FASB issued new accounting guidance that changes the presentation of debt issuance costs in financial statements. The primary objective of this accounting guidance is to present these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is still reported as interest expense. This accounting guidance is effective for the Company on April 1, 2016. The Company is currently evaluating the impact of this new guidance.

FACTORS THAT MAY AFFECT FUTURE RESULTS:

Readers are cautioned that the statements contained in this report regarding expectations of our performance or other matters that may affect our business, results of operations or financial condition are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which are based on current expectations of future events, may be identified by use of words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning. These statements also may be identified by the fact that they do not relate strictly to historical or current facts. If underlying assumptions prove inaccurate or if known or unknown risks or uncertainties materialize, actual results could vary materially from those anticipated, estimated or projected. Some of these risks and uncertainties include changes in the timing of anticipated shipments, changes in anticipated geographic product sourcing, political instability in sourcing locations, currency and interest rate fluctuations, shifts in the global supply and demand position for our tobacco products, and the impact of regulation and litigation on our customers. A further list and description of these risks, uncertainties and other factors can be found in the “Risk Factors” section of our Annual Report on Form 10-K/A for the fiscal year ended March 31, 2015 and in our other filings with the Securities and Exchange Commission. We do not undertake to update any forward-looking statements that we may make from time to time.

Item 3.    Quantitative and Qualitative Disclosures About Market Risk.

There have been no significant changes to our market risk since March 31, 2015. For a discussion on our exposure to market risk, refer to Part II, Item 7A “Quantitative and Qualitative Disclosures About Market Risk” contained in our Annual Report on Form 10-K/A for the year ended March 31, 2015.

Item 4.    Controls and Procedures (As Revised)

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of our original filing of the Quarterly Report on Form 10-Q, an evaluation was carried out by the Company’s management, with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (Exchange Act)) as of June 30, 2015. Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods required by the U.S. Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosures. At the time the original filing was filed on August 5, 2015, our Chief Executive Officer and Chief Financial Officer concluded our disclosure controls and procedures were effective as of June 30, 2015.

Subsequent to that evaluation, management reassessed the effectiveness of internal control over financial reporting as of June 30, 2015, based on the criteria in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in 2013. As a result of this reassessment, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were not effective as of June 30, 2015.

Item 4.    Controls and Procedures (As Revised) (continued)

Evaluation of Disclosure Controls and Procedures (continued)

Our Chief Executive Officer and Chief Financial Officer have concluded that the following material weaknesses in internal control over financial reporting existed at the Kenyan subsidiary as of March 31, 2015 and had not been remediated as of June 30, 2015:

• Processes and control activities designed to support the amounts of inventory recorded in the general ledger were not effective, were incorrectly applied or were overridden. It appears that local management, through collusion, overrode controls to record fictional inventory balances.

• Processes and control activities designed to support the amounts of deferred crop costs recorded in the general ledger were not effective, were incorrectly applied or were overridden. It appears that local management, through collusion, overrode controls to inappropriately cost redried inventory and understate cost of goods sold.

• Processes and control activities designed to support the revenue transactions recorded in the general ledger were not effective, were incorrectly applied or were overridden. Specifically, revenues were recorded based on estimated transactions and actual transactions were processed outside the general ledger system. As a result revenue recorded did not reflect actual sales transactions and accounts receivable balances were recorded which would not be realized.

Our Chief Executive Officer and Chief Financial Officer have also concluded that the following material weaknesses existed at the regional and corporate levels as of March 31, 2015 and had not been remediated as of June 30, 2015:

• The Company’s regional review of operations at African origins was ineffective due to the lack of adequate qualified resources to appropriately examine and investigate financial results. Although the financial information at the Kenya origin was reviewed on a timely basis, the regional review did not incorporate the qualitative and operational context needed to perform an adequate review, which allowed the misstated balances to build up over extended periods of time.

• The Company’s fraud risk assessment was not adequately designed or implemented to address the risks of fraud in the African origins. The Company’s assessment did not determine that the African region warranted additional control activities to respond to additional fraud risks in Africa.

Changes in Internal Control Over Financial Reporting

There were no changes that occurred during the three months ended June 30, 2015 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting, except as noted above related to the material weaknesses at the Kenya subsidiary, Africa regional and corporate levels.

The Company has completed or undertaken plans to remediate these control deficiencies that constituted material weaknesses:

• The Kenyan management, including the Head of Operations, Deputy Managing and Finance Director, and Financial Controller believed to have been key directors of the collusion are no longer with the Company.

• The Company is in the process of standardizing key controls. As part of this process, which is being led by Corporate Audit Services, the deficient control activities at the Kenya location will be replaced with the standardized key control activities. The control activities in Kenya will be tested for design and operating effectiveness in fiscal 2017.

• Two new regional controller positions have been created for the Africa region. These positions will add an additional layer of review and oversight of African entities, and will function as “super” financial directors of three entities each, as well as being part of the regional team. The entities for which each position is responsible for will rotate every two years.

• This African regional controller team will perform new analyses, which may include but are not limited to trend analyses over time, crop information and inventory turns (including by comparison to other origins within the region) to corroborate accounting amounts, sign off on quarterly packet reviews and account reconciliations, and monitoring controls around the financial close process. Additionally, the regional controllers will regularly visit origins for their work to help assess monthly and quarterly financial processes. We will enhance regional review procedures at the Corporate level with the implementation of semi-annual regional risk management committee meetings to review business risks and controls, and results of the region based on new analyses and trends as well.

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Alliance One International, Inc. and Subsidiaries

Item 4.    Controls and Procedures (As Revised) (continued)

Changes in Internal Control Over Financial Reporting (continued)

• The Company’s fraud risk assessment of a location will be included as a factor in determining the scope of our SOX compliance program, in order to more specifically tailor the design of internal control over financial reporting to mitigate the risk of material misstatement caused by fraud or otherwise.

In light of the material weakness referred to above, we performed additional analyses and procedures in order to conclude that our condensed consolidated financial statements in this Form 10-Q/A for the quarters ended June 30, 2015 and 2014 are fairly presented, in all material respects, in accordance with US GAAP.

Part II. Other Information

Item 1.    Legal Proceedings

Mindo, S.r.l., the purchaser in 2004 of the Company's Italian subsidiary Dimon Italia, S.r.l., asserted claims against a subsidiary of the Company arising out of that sale transaction in an action filed before the Court of Rome on April 12, 2007.  The claim involved a guaranty letter issued by a consolidated subsidiary of the Company in connection with the sale transaction, and sought the recovery of €7.4 million plus interest and costs.On November 11, 2013, the court issued its judgment in favor of the Company’s subsidiary, rejecting the claims asserted by Mindo, S.r.l., and awarding the Company’s subsidiary legal costs of €0.05 million.  On December 23, 2014, Mindo, S.r.l. appealed the judgment of the Court of Rome to the Court of Appeal of Rome.  A hearing before the Court of Appeal of Rome was held on June 12, 2015, which was adjourned pending a further hearing set for February 2018.  The outcome of, and timing of a decision on, the appeal are uncertain.

          In addition to the above-mentioned matter, certain of the Company’s subsidiaries are involved in other litigation or legal matters incidental to their business activities, including tax matters.  While the outcome of these matters cannot be predicted with certainty, the Company is vigorously defending them and does not currently expect that any of them will have a material adverse effect on its business or financial position. However, should one or more of these matters be resolved in a manner adverse to its current expectation, the effect on the Company’s results of operations for a particular fiscal reporting period could be material.

Item 1A.    Risk Factors

None.

Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3.    Defaults Upon Senior Securities

None.

Item 4.    Mine Safety Disclosures

N/A

Item 5.    Other Information

None.

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Alliance One International, Inc. and Subsidiaries

Item 6.    Exhibits.
3.01	Amended and Restated Articles of Incorporation of Alliance One International, Inc., as amended, incorporated by reference to Exhibit 3.01 to Alliance One International, Inc.'s Quarterly Report on Form 10-Q for the period ended June 30, 2015, filed on August 5, 2015 (SEC File No. 001-13684)
3.02	Amended and Restated Bylaws of Alliance One International, Inc., incorporated by reference to Exhibit 3.2 to Alliance One International, Inc.'s Current Report on Form 8-K, filed June 29, 2015 (SEC File No. 001-13684)
4.01	Form of certificate of common stock of Alliance One International, Inc., incorporated by reference to Exhibit 4.1 to Alliance One International, Inc.'s Current Report on Form 8-K, filed June 29, 2015 (SEC File No. 001-13684)
10.1	Third Amendment to Amended and Restated Credit Agreement dated as of June 2, 2015 among Alliance One International, Inc., Intabex Netherlands B.V., Alliance One International AG, the Lenders party thereto, and Deutsche Bank Trust Company Americas, as administrative agent, incorporated by reference to Exhibit 10.04 to Alliance One International, Inc.'s Annual Report on Form 10-K for the year ended March 31, 2015, filed June 8, 2015 (SEC File No. 001-13684)
31.01	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
31.02	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
32	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (filed herewith)
101.INS	XBRL Instance Document (filed herewith)
101.SCH	XBRL Taxonomy Extension Schema (filed herewith)
101.CAL	XBRL Taxonomy Extension Calculation Linkbase (filed herewith)
101.DEF	XBRL Taxonomy Extension Definition Linkbase (filed herewith)
101.LAB	XBRL Taxonomy Extension Label Linkbase (filed herewith)
101.PRE	XBRL Taxonomy Extension Presentation Linkbase (filed herewith)

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Alliance One International, Inc. and Subsidiaries

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
	Alliance One International, Inc.
	/s/ Todd B. Compton
Date: May 24, 2016	Todd B. Compton Vice President - Controller (Principal Accounting Officer)

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Alliance One International, Inc. and Subsidiaries

Index of Exhibits
Exhibits
3.01	Amended and Restated Articles of Incorporation of Alliance One International, Inc., as amended, incorporated by reference to Exhibit 3.01 to Alliance One International Inc.'s Quarterly Report on Form 10-Q for the period ended June 30, 2015, filed on August 5, 2015 (SEC File No. 001-13684)
3.02	Amended and Restated Bylaws of Alliance One International, Inc., incorporated by reference to Exhibit 3.2 to Alliance One International, Inc.'s Current Report on Form 8-K, filed June 29, 2015 (SEC File No. 001-13684)
4.01	Form of certificate of common stock of Alliance One International, Inc., incorporated by reference to Exhibit 4.1 to Alliance One International, Inc.'s Current Report on Form 8-K, filed June 29, 2015 (SEC File No. 001-13684)
10.01	Third Amendment to Amended and Restated Credit Agreement dated as of June 2, 2015 among Alliance One International, Inc., Intabex Netherlands B.V., Alliance One International AG, the Lenders party thereto, and Deutsche Bank Trust Company Americas, as administrative agent, incorporated by reference to Exhibit 10.04 to Alliance One International, Inc.'s Annual Report on Form 10-K for the year ended March 31, 2015, filed June 8, 2015 (SEC File No. 001-13684)
31.01	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
31.02	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
32	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (filed herewith)
101.INS	XBRL Instance Document (filed herewith)
101.SCH	XBRL Taxonomy Extension Schema (filed herewith)
101.CAL	XBRL Taxonomy Extension Calculation Linkbase (filed herewith)
101.DEF	XBRL Taxonomy Extension Definition Linkbase (filed herewith)
101.LAB	XBRL Taxonomy Extension Label Linkbase (filed herewith)
101.PRE	XBRL Taxonomy Extension Presentation Linkbase (filed herewith)

- 44 -

EX-31.01

Exhibit 31.01

CERTIFICATION

I, J. Pieter Sikkel, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q/A of Alliance One International, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/s/ J. Pieter Sikkel

_____________________________________________

J. Pieter Sikkel

President and Chief Executive Officer

May 24, 2016

A signed original of this written statement required by Section 302, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 302, has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-31.02

Exhibit 31.02

CERTIFICATION

I, Joel L. Thomas, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q/A of Alliance One International, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/s/ Joel L. Thomas

_____________________________________________

Joel L. Thomas

Executive Vice President-Chief Financial Officer

May 24, 2016

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)

Pursuant to section 906 of The Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), each of the undersigned officers of Alliance One International, Inc., a Virginia corporation (the "Company"), does hereby certify, to such officer's knowledge, that:

The Quarterly Report on Form 10-Q/A for the period ended June 30, 2015 (the "Form 10-Q") of the Company fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to Alliance One International, Inc. and will be retained by Alliance One International, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

Dated: May 24, 2016

/s/ J. Pieter Sikkel

_________________________________________________________

J. Pieter Sikkel

President and Chief Executive Officer

/s/ Joel L. Thomas

_________________________________________________________

Joel L. Thomas

Executive Vice President - Chief Financial Officer

XML

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	ALLIANCE ONE INTERNATIONAL, INC.
Document Type	10-Q/A
Document Period End Date	Jun. 30, 2015
Amendment Flag	true
Amendment Description	We are filing this amended Form 10-Q/A (“Form 10-Q/A”) to amend our Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, originally filed with the Securities and Exchange Commission (the “SEC”) on August 5, 2015 (“Original Filing”), to restate our unaudited condensed consolidated financial statements and related footnote disclosures for the months ended June 30, 2015 and 2014.
Entity Central Index Key	0000939930
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		8,883,239
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

XML

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (AS RESTATED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Sales and other operating revenues	$ 266,282	$ 249,144
Cost of goods and services sold	236,884	215,873
Gross profit	29,398	33,271
Selling, general and administrative expenses	29,914	31,325
Other income	560	800
Restructuring and asset impairment charges	2,948	0
Operating income (loss)	(2,904)	2,746
Interest expense (includes debt amortization of $2,244 and $1,552 for the three months in 2015 and 2014, respectively)	27,773	26,922
Interest income	1,374	1,351
Loss before income taxes and other items	(29,303)	(22,825)
Income tax expense (benefit)	(3,214)	320
Equity in net income (loss) of investee companies	132	(485)
Net loss	(25,957)	(23,630)
Less: Net income (loss) attributable to noncontrolling interests	(7)	55
Net loss attributable to Alliance One International, Inc.	$ (25,950)	$ (23,685)
Loss per share:
Basic (usd per share)	$ (2.93)	$ (2.69)
Diluted (usd per share)	$ (2.93)	$ (2.69)
Weighted average number of shares outstanding:
Basic (in shares)	8,862	8,799
Diluted (in shares)	8,862	8,799

XML

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (AS RESTATED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Debt amortization	$ 2,244	$ 1,552

XML

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (AS RESTATED) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (25,957)	$ (23,630)
Other comprehensive income (loss), net of tax:
Currency translation adjustment	2,307	208
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax [Abstract]
Amount reclassified to liability	225	0
Amount reclassified to income	1,000	414
Defined benefit pension plan adjustments	1,225	414
Other comprehensive earnings, net of tax	3,532	622
Total comprehensive income (loss)	(22,425)	(23,008)
Comprehensive income (loss) attributable to noncontrolling interests	(7)	55
Comprehensive income (loss) attributable to Alliance One International, Inc.	$ (22,418)	$ (23,063)

XML

CONDENSED CONSOLIDATED BALANCE SHEETS (AS RESTATED) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Current assets
Cash and cash equivalents	$ 163,942	$ 143,849	$ 126,199
Trade and other receivables, net	173,223	193,370	177,942
Accounts receivable, related parties	89,285	41,816	76,672
Inventories	885,897	740,943	993,678
Advances to tobacco suppliers	47,273	37,767	58,563
Recoverable income taxes	5,851	5,257	5,991
Current deferred taxes, net	22,824	15,586	13,376
Prepaid expenses	24,179	23,901	34,213
Other current assets	14,795	14,606	14,074
Total current assets	1,427,269	1,217,095	1,500,708
Other assets
Investments in unconsolidated affiliates	54,508	54,694	51,457
Goodwill and other intangible assets	30,994	31,891	34,235
Long-term recoverable income taxes	7,252	6,571	5,644
Deferred income taxes, net	30,899	33,155	40,878
Other deferred charges	18,296	17,695	19,711
Other noncurrent assets	27,141	27,631	39,015
Total other assets	169,090	171,637	190,940
Property, plant and equipment, net	235,327	237,914	258,613
Total assets	1,831,686	1,626,646	1,950,261
Current liabilities
Notes payable to banks	401,089	330,254	541,199
Accounts payable	78,147	73,349	89,054
Due to related parties	22,920	58,512	8,824
Advances from customers	20,042	18,906	40,889
Accrued expenses and other current liabilities	95,928	87,815	105,518
Income taxes	9,470	12,694	8,521
Long-term debt current	32,894	2,894	4,329
Total current liabilities	660,490	584,424	798,334
Long-term debt	894,059	738,943	825,423
Deferred income taxes	1,478	3,498	7,850
Liability for unrecognized tax benefits	10,522	11,011	12,511
Pension, postretirement and other long-term liabilities	89,301	91,502	79,969
Total noncurrent liabilities	$ 995,360	$ 844,954	$ 925,753
Commitments and contingencies
Common Stock—no par value:
Common stock, shares authorized	250,000	250,000	250,000
Common stock, shares, issued	9,668	9,644	9,617
Issued shares	$ 469,357	$ 468,564	$ 466,267
Retained deficit	(234,134)	(208,184)	(205,739)
Accumulated other comprehensive loss	(62,854)	(66,386)	(37,704)
Total stockholders’ equity of Alliance One International, Inc.	172,369	193,994	222,824
Noncontrolling interests	3,467	3,274	3,350
Total equity	175,836	197,268	226,174
Liabilities and Equity	$ 1,831,686	$ 1,626,646	$ 1,950,261

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CONDENSED STATEMENTS OF CONSOLIDATED STOCKHOLDERS' EQUITY (AS RESTATED) - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Deficit [Member]	Currency Translation Adjustment [Member]	Pensions, Net of Tax [Member]	Noncontrolling Interest [Member]
Beginning balance at Mar. 31, 2014	$ 248,597	$ 465,682	$ (182,054)	$ (1,640)	$ (36,686)	$ 3,295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(23,630)		(23,685)			55
Stock-based compensation	585	585
Other comprehensive income, net of tax	622			208	414
Ending balance at Jun. 30, 2014	226,174	466,267	(205,739)	(1,432)	(36,272)	3,350
Beginning balance at Mar. 31, 2015	197,268	468,564	(208,184)	(14,154)	(52,232)	3,274
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(25,957)		(25,950)			(7)
Increase in capitalization of non-controlling interest	200					200
Stock-based compensation	793	793
Other comprehensive income, net of tax	3,532			2,307	1,225
Ending balance at Jun. 30, 2015	$ 175,836	$ 469,357	$ (234,134)	$ (11,847)	$ (51,007)	$ 3,467

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (AS RESTATED) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net loss	$ (25,957)	$ (23,630)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	7,064	7,500
Debt amortization/interest	2,596	1,889
(Gain) loss on foreign currency transactions	1,143	(331)
Restructuring and asset impairment charges	2,948	0
Stock-based compensation	1,104	750
Changes in operating assets and liabilities, net	(222,717)	(334,560)
Other, net	(234)	175
Net cash used by operating activities	(234,053)	(348,207)
Investing activities
Purchases of property, plant and equipment	(6,179)	(8,052)
Proceeds from sale of property, plant and equipment	446	409
Restricted cash	(577)	(1,114)
Other, net	8	(719)
Net cash used by investing activities	(6,302)	(9,476)
Financing activities
Net proceeds from short-term borrowings	79,440	329,572
Proceeds from long-term borrowings	185,000	0
Repayment of long-term borrowings	(242)	(75,489)
Debt issuance cost	(3,847)	(4,125)
Other, net	200	0
Net cash provided by financing activities	260,551	249,958
Effect of exchange rate changes on cash	(103)	(854)
Increase (decrease) in cash and cash equivalents	20,093	(108,579)
Cash and cash equivalents at beginning of period	143,849	234,778
Cash and cash equivalents at end of period	163,942	126,199
Other information:
Cash paid for income taxes	6,177	2,638
Cash paid for interest	10,233	5,380
Cash received from interest	$ (1,370)	$ (1,276)

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Restatement of Previously Issued Consolidated Financial Statements

3 Months Ended

Jun. 30, 2015

Accounting Changes and Error Corrections [Abstract]

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS

Restatement of Previously Issued Consolidated Financial Statements

In the course of downsizing and terminating certain operations of Alliance One Tobacco (Kenya) Limited (“AOTK”), and preparing our financial statements for the quarter ended September 30, 2015, the Company identified errors in accounts receivable, inventory, sales and cost of goods sold in AOTK. Specifically, the value of inventory was overstated due to improper accounting for shrinkage, deferred crop costs, lower of cost or market valuations and accurate inventory counts. Further, sales and other operating revenues, and trade and other receivables, net were incorrectly stated due to improper revenue recognition for external sales. As a result of these errors, we have restated our audited consolidated financial statements for the years ended March 31, 2015, 2014 and 2013 and our unaudited condensed consolidated financial information for the three months ended June 30, 2015 and 2014 on this Form 10-Q/A. See the Company’s Annual Report on Form 10-K/A for the fiscal year ended March 31, 2015 for further information.

As of June 30, 2015, the correction of these errors decreased the reported amount of inventory by approximately $40 million, decreased accounts receivable by approximately $5 million, and decreased retained earnings by approximately $45 million. Approximately $39 million of the decrease in retained earnings is related to March 31, 2015 and prior periods, with a portion in each quarter dating back to fiscal 2011. Further, these corrections decreased operating income for the three months ended June 30, 2015 by approximately $6 million.

Along with restating our financial statements to correct the errors discussed above, we are making adjustments for certain previously identified immaterial accounting errors related to the periods covered by this Form 10-Q/A. When these financial statements were originally issued, we assessed the impact of these errors and concluded that they were not material to our financial statements for the three months ended June 30, 2015 and 2014. However, in conjunction with our need to restate our financial statements as a result of the errors above, we have determined that it would be appropriate within this Form 10-Q/A to make adjustments for all such previously unrecorded adjustments.

The combined impacts of all the adjustments to the applicable line items in our unaudited consolidated financial statements for the periods covered by this Form 10Q/A are provided in the tables below.

Financial Statement Presentation

In addition to the restatement of our consolidated financial statements, we have also restated the following Notes for the effects of the errors above.

• Note 1. Summary of Significant Accounting Policies

• Note 2. Income Taxes

• Note 6. Variable Interest Entities

• Note 7. Segment Information

• Note 8. Earnings Per Share

• Note 13. Pension and Postretirement Benefits

• Note 14. Inventories

• Note 15. Other Comprehensive Income (Loss)

• Note 19. Investee Companies

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

The following tables present the effect of the correction of the error on selected line items of our previously reported unaudited condensed consolidated financial statements for the three months ended June 30, 2015 and 2014:

	Condensed Consolidated Statements of Operations
	Three Months Ended June 30,
							2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)			As Restated
Sales and other operating revenues	$	263,812		$	—		$	2,923	$	(455	)	$	266,282
Cost of goods and services sold	229,598			8,456			—		(1,172		)	236,884
Gross profit (loss)	34,214			(8,456		)	2,923		717			29,398
Selling, general and administrative expenses	29,939			—			—		(25		)	29,914
Other income (expense)	586			—			—		(26		)	560
Operating income (loss)	1,913			(8,456		)	2,923		716			(2,904		)
Interest expense	27,691			—			—		82			27,773
Income (loss) before income taxes and other items	(24,404		)	(8,456		)	2,923		634			(29,303		)
Income tax expense (benefit)	(1,362		)	(2,174		)	202		120			(3,214		)
Net income (loss)	(22,910		)	(6,282		)	2,721		514			(25,957		)
Net income (loss) attributable to Alliance One International, Inc.	(22,903		)	(6,282		)	2,721		514			(25,950		)
Income (loss) per share:
Basic	(2.58		)	(0.71		)	0.31		0.06			(2.93		)
Diluted	(2.58		)	(0.71		)	0.31		0.06			(2.93		)

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

	Condensed Consolidated Statements of Operations
	Three Months Ended June 30,
								2014
(in thousands)		As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Sales and other operating revenues		$	249,017		$	—		$	125		$	—		$	249,144
Cost of goods and services sold		213,913			3,797			—			(1,839		)	215,873
Gross profit (loss)		35,104			(3,797		)	125			1,839			33,271
Selling, general and administrative expenses		31,325			—			—			—			31,325
Other income		800			—			—			—			800
Operating income (loss)		4,579			(3,797		)	125			1,839			2,746
Interest expense		26,922			—			—			—			26,922
Income (loss) before income taxes and other items		(20,992		)	(3,797		)	125			1,839			(22,825		)
Income tax expense (benefit)		(2,914		)	6,325			(3,167		)	76			320
Net income (loss)		(18,563		)	(10,122		)	3,292			1,763			(23,630		)
Net income (loss) attributable to Alliance One International, Inc.		(18,618		)	(10,122		)	3,292			1,763			(23,685		)
Income (loss) per share:
Basic		(2.12		)	(1.15		)	0.37			0.20			(2.69		)
Diluted		(2.12		)	(1.15		)	0.37			0.20			(2.69		)

	Condensed Consolidated Statements of Comprehensive Income (Loss)
	Three Months Ended June 30,
							2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)		As Restated
Net income (loss)	$	(22,910	)	$	(6,282	)	$	2,721	$	514	$	(25,957	)
Total comprehensive income (loss), net of tax	(19,603		)	(6,282		)	2,721		739		(22,425		)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(19,596		)	(6,282		)	2,721		739		(22,418		)

	Condensed Consolidated Statements of Comprehensive Income (Loss)
	Three Months Ended June 30,
							2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)		As Restated
Net income (loss)	$	(18,563	)	$	(10,122	)	$	3,292	$	1,763	$	(23,630	)
Total comprehensive income (loss), net of tax	(17,941		)	(10,122		)	3,292		1,763		(23,008		)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(17,996		)	(10,122		)	3,292		1,763		(23,063		)

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

	June 30, 2015
Condensed Consolidated Balance Sheets (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Trade and other receivables, net	$	177,759		$	—		$	(4,536	)	$	—		$	173,223
Inventories	926,018			(40,121		)	—			—			885,897
Total current assets	1,471,926			(40,121		)	(4,536		)	—			1,427,269
Investments in unconsolidated affiliates	54,508			—			—			—			54,508
Deferred income taxes, net	29,394			—			—			1,505			30,899
Total assets	1,874,838			(40,121		)	(4,536		)	1,505			1,831,686
Accounts payable	77,758			—			—			389			78,147
Income taxes	9,740			(2,196		)	20			1,906			9,470
Total current liabilities	660,371			(2,196		)	20			2,295			660,490
Deferred income taxes	5,227			—			—			(3,749		)	1,478
Liability for unrecognized tax benefits	8,226			—			—			2,296			10,522
Pension, postretirement and other long-term benefits	89,301			—			—			—			89,301
Retained deficit	(192,316		)	(37,925		)	(4,556		)	663			(234,134		)
Accumulated other comprehensive loss	(62,854		)	—			—			—			(62,854		)
Total stockholders' equity of Alliance One International, Inc.	214,187			(37,925		)	(4,556		)	663			172,369
Total equity	217,654			(37,925		)	(4,556		)	663			175,836
Total liabilities and stockholders' equity	1,874,838			(40,121		)	(4,536		)	1,505			1,831,686

	June 30, 2014
Condensed Consolidated Balance Sheets (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Trade and other receivables, net	$	186,860		$	—		$	(8,918	)	$	—		$	177,942
Inventories	1,014,413			(20,735		)	—			—			993,678
Total current assets	1,530,361			(20,735		)	(8,918		)	—			1,500,708
Investments in unconsolidated affiliates	50,927			—			—			530			51,457
Deferred income taxes, net	40,878			—			—			—			40,878
Total assets	1,979,384			(20,735		)	(8,918		)	530			1,950,261
Accounts payable	89,054			—			—			—			89,054
Income taxes	9,619			7,131			(3,438		)	(4,791		)	8,521
Total current liabilities	799,432			7,131			(3,438		)	(4,791		)	798,334
Deferred income taxes	5,752			—			—			2,098			7,850
Liability for unrecognized tax benefits	9,526			—			—			2,985			12,511
Pension, postretirement and other long-term benefits	79,719			—			—			250			79,969
Retained deficit	(172,606		)	(27,866		)	(5,480		)	213			(205,739		)
Accumulated other comprehensive loss	(37,479		)	—			—			(225		)	(37,704		)
Total stockholders' equity of Alliance One International, Inc.	256,182			(27,866		)	(5,480		)	(12		)	222,824
Total equity	259,532			(27,866		)	(5,480		)	(12		)	226,174
Total liabilities and stockholders' equity	1,979,384			(20,735		)	(8,918		)	530			1,950,261

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

Condensed Statements 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, 2014	$	(153,988	)	$	(17,744	)	$	(8,772	)	$	(1,550	)	$	(182,054	)
Net loss	(18,618		)	(10,122		)	3,292			1,763			(23,685		)
Retained Deficit at June 30, 2014	(172,606		)	(27,866		)	(5,480		)	213			(205,739		)
Retained Deficit at March 31, 2015	(169,413		)	(31,643		)	(7,277		)	149			(208,184		)
Net loss	(22,903		)	(6,282		)	2,721			514			(25,950		)
Retained Deficit at June 30, 2015	(192,316		)	(37,925		)	(4,556		)	663			(234,134		)
Accumulated Other Comprehensive Income (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Pensions, Net of Tax at March 31, 2014	$	(36,461	)	$	—		$	—		$	(225	)	$	(36,686	)
Pensions, Net of Tax at June 30, 2014	(36,047		)	—			—			(225		)	(36,272		)
Pensions, Net of Tax at March 31, 2015	(52,007		)	—			—			(225		)	(52,232		)
Other comprehensive loss, net of tax for three months ended June 30, 2015	1,000			—			—			225			1,225
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Total Stockholders' Equity at March 31, 2014	$	276,888		$	(17,744	)	$	(8,772	)	$	(1,775	)	$	248,597
Net Loss	(18,563		)	(10,122		)	3,292			1,763			(23,630		)
Total Stockholders' Equity at June 30, 2014	259,532			(27,866		)	(5,480		)	(12		)	226,174
Total Stockholders' Equity at March 31, 2015	236,264			(31,643		)	(7,277		)	(76		)	197,268
Net Loss	(22,910		)	(6,282		)	2,721			514			(25,957		)
Other comprehensive loss, net of tax	3,307			—			—			225			3,532
Total Stockholders' Equity at June 30, 2015	217,654			(37,925		)	(4,556		)	663			175,836

	Condensed Statement of Consolidated Cash Flows for June 30, 2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(22,910	)	$	(6,282	)	$	2,721		$	514		$	(25,957	)
Changes in operating assets and liabilities, net	(225,764		)	6,282			(2,721		)	(514		)	(222,717		)

	Condensed Statement of Consolidated Cash Flows for June 30, 2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(18,563	)	$	(10,122	)	$	3,292		$	1,763		$	(23,630	)
Changes in operating assets and liabilities, net	(339,591		)	10,122			(3,292		)	(1,799		)	(334,560		)
Net cash used by operating acitivities	(348,171		)	—			—			(36		)	(348,207		)
Increase (decrease) in cash and cash equivalents	(108,543		)	—			—			(36		)	(108,579		)
Cash and cash equivalents at beginning of period	234,742			—			—			36			234,778

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

(1) Adjustments per the errors described above 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 for the errors described above related to improper revenue recognition.

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

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Basis of Presentation and Significant Accounting Policies

3 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (AS RESTATED)

Basis of Presentation

Because of the seasonal nature of the Company’s business, the results of operations for any fiscal quarter will not necessarily be indicative of results to be expected for other quarters or a full fiscal year. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of financial position, results of operation and cash flows at the dates and for the periods presented have been included. The unaudited information included in this Form 10-Q/A should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K/A for the fiscal year ended March 31, 2015.

Beginning April 1, 2015, the Company's management ceased evaluating performance of value added services as a separate operating segment. The Company's cut rag and other specialty products and services are now combined within the geographic operating segments in which they operate. The Company reviewed certain long-term financial performance and economic characteristics such as nature of products and services, production processes, type or class of customer, distribution methods for products and services, and regulatory environment. Based on review of the aggregation criteria, the Company concluded that Africa, Asia, Europe, and South America share similar economic indicators and are aggregated into one reportable segment “Other Regions.” The Company concluded that the economic characteristics of North America are dissimilar from the other operating segments and is disclosing it separately.               

Taxes Collected from Customers

Certain subsidiaries are subject to value added taxes on local sales. These amounts have been included in sales and cost of sales and were $5,675 and $6,241 for the three months ended June 30, 2015 and 2014, respectively.

Other Deferred Charges

Other deferred charges are primarily deferred financing costs that are amortized over the life of the debt.

New Accounting Standards

Recent Accounting Pronouncements Not Yet Adopted

In May 2014, the Financial Accounting Standards Board ("FASB") issued new accounting guidance that outlines a single comprehensive model to use in accounting for revenue from contracts with customers. The primary objective of this accounting guidance is to recognize revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. This accounting guidance is effective for the Company on April 1, 2018. The Company is currently evaluating the impact of this new guidance.

     In August 2014, the FASB issued new accounting guidance on determining when and how to disclose going concern uncertainties in the financial statements. The primary objective of this accounting guidance is for management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. This accounting guidance is effective for the Company on March 31, 2017. The Company is currently evaluating the impact of this new guidance.

In April 2015, the FASB issued new accounting guidance that changes the presentation of debt issuance costs in financial statements. The primary objective of this accounting guidance is to present these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is still reported as interest expense. This accounting guidance is effective for the Company on April 1, 2016. The Company is currently evaluating the impact of this new guidance.

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Income Taxes

3 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

Accounting for Uncertainty in Income Taxes

As of June 30, 2015, the Company’s unrecognized tax benefits totaled $17,522, all of which would impact the Company’s effective tax rate if recognized.

         The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. As of June 30, 2015, accrued interest and penalties totaled $1,174 and $905 respectively.

         The Company expects to continue accruing interest expense related to the unrecognized tax benefits described above. Additionally, the Company may be subject to fluctuations in the unrecognized tax liability due to currency exchange rate movements.

         The Company does not foresee any reasonably possible changes in the unrecognized tax benefits in the next twelve months but acknowledges circumstances can change due to unexpected developments in the law. In certain jurisdictions, tax authorities have challenged positions that the Company has taken that resulted in recognizing benefits that are material to its financial statements. The Company believes it is more likely than not that it will prevail in these situations and accordingly has not recorded liabilities for these positions. The Company expects the challenged positions to be settled at a time greater than twelve months from its balance sheet date.

         The Company and its subsidiaries file a U.S. federal consolidated income tax return as well as returns in several U.S. states and a number of foreign jurisdictions. As of June 30, 2015, the Company’s earliest open tax year for U.S. federal income tax purposes is its fiscal year ended March 31, 2012; however, the Company's net operating loss carryovers from prior periods remain subject to adjustment. Open tax years in state and foreign jurisdictions generally range from three to six years.

Provision for the Three Months Ended June 30, 2015

The effective tax rate used for the three months ended June 30, 2015 was 11.0% compared to (1.4)% for the three months ended June 30, 2014. The effective tax rates for these periods are based on the current estimate of full year results including the effect of taxes related to discrete events which are recorded in the interim period in which they occur. The difference in the effective tax rate in one year compared to another is the result of many factors that include, but are not limited to, differences in forecasted income for the respective years, differences in year-to-date income for the periods, certain losses for which no tax benefit is recorded; and, differences between discrete items recognized for the periods that include changes in valuation allowances, net exchanges losses on income tax accounts and net exchange gains related to liabilities for unrecognized tax benefits.

         For the three months ended June 30, 2015, the Company recorded a discrete event adjustment expense of $1,762, bringing the effective tax rate estimated for the three months of 5.0% to 11.0%. This discrete event adjustment expense relates primarily to net exchange losses on income tax accounts and net exchange gains related to liabilities for unrecognized tax benefits. For the three months ended June 30, 2014 , the Company recorded a discrete event adjustment benefit of $1,335, bringing the effective tax rate estimated for the three months of (7.3)% to (1.4)%. This discrete event adjustment benefit relates primarily to net exchange losses on income tax accounts and net exchange gains related to liabilities for unrecognized tax benefits. The significant difference in the estimated effective tax rate for the three months ended June 30, 2015 from the U.S. federal statutory rate is primarily due to net exchange losses on income tax accounts, foreign income tax rates lower than the U.S. rate and certain losses for which no benefit is currently recorded.

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Guarantees

3 Months Ended

Jun. 30, 2015

Guarantees [Abstract]

GUARANTEES

GUARANTEES

The Company and certain of its foreign subsidiaries guarantee bank loans to suppliers to finance their crops. Under longer-term arrangements, the Company may also guarantee financing on suppliers’ construction of curing barns or other tobacco production assets. Guaranteed loans are generally repaid concurrent with the delivery of tobacco to the Company. The Company is obligated to repay any guaranteed loan should the supplier default. If default occurs, the Company has recourse against the supplier. The Company also guarantees bank loans of certain unconsolidated subsidiaries in Asia, Brazil and Zimbabwe.

         The following table summarizes amounts guaranteed and the fair value of those guarantees:

	June 30, 2015		June 30, 2014		March 31, 2015
Amounts guaranteed (not to exceed)	$	276,566	$	283,228	$	300,557
Amounts outstanding under guarantee	165,222		186,522		185,486
Fair value of guarantees	7,723		7,262		8,650

         Of the guarantees outstanding at June 30, 2015, all expire within one year. The fair value of guarantees is recorded in Accrued Expenses and Other Current Liabilities in the Condensed Consolidated Balance Sheets and included in crop costs except for Zimbabwe and the joint venture in Brazil which is included in Accounts Receivable, Related Parties.

3. GUARANTEES (continued)

         In Brazil, certain suppliers obtain government subsidized rural credit financing from local banks that is guaranteed by the Company. The Company withholds amounts owed to suppliers related to the rural credit financing of the supplier upon delivery of tobacco to the Company. The Company remits payments to the local banks on behalf of the guaranteed suppliers. Terms of rural credit financing are such that repayment is due to local banks based on contractual due dates. As of June 30, 2015 and 2014 and March 31, 2015, respectively, the Company had balances of $11,212, $15,863 and $16,412 that were due to local banks on behalf of suppliers. These amounts are included in Accounts Payable in the Condensed Consolidated Balance Sheets.

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Restructuring and Asset Impairment Charges

3 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES

During the quarter ended March 31, 2015, the Company announced the first phase of a global restructuring plan focusing on efficiency and cost improvements. The Company reviewed origin and corporate operations and initiatives were implemented to increase operational efficiency and effectiveness. These initiatives continue to occur as the Company restructures certain operations not meeting strategic business objectives and performance metrics. During the three months ended June 30, 2015, the Company recorded $375 of additional employee severance charges and $2,573 of asset impairment charges in connection with the restructuring of certain operations primarily in Africa. The asset impairment charges are for unrecoverable tobacco supplier advances and tobacco production property and equipment due to exiting and redefining the Company’s position in certain African markets. At June 30, 2015, the costs of any future initiatives are not estimable.

The following table summarizes the restructuring charges recorded in the Company’s reporting segments during the three months ended June 30, 2015 and 2014, respectively:

	Three Months Ended June 30,
Restructuring and Asset Impairment Charges	2015			2014
Employee separation and other cash charges:
Beginning balance	$	8,087		$	397
Period charges:
Severance charges	375			—
Total period charges	375			—
Payments through June 30	(1,246		)	(296		)
Ending balance June 30	$	7,216		$	101
Asset impairment and other non-cash charges	$	2,573		$	—
Total restructuring charges for the period	$	2,948		$	—

On April 1, 2015, the Company revised its reportable segments. See Note 1 "Basis of Presentation and Significant Accounting Policies" to the "Notes to Condensed Consolidated Financial Statements." The following table summarizes the employee separations and other cash charges recorded in the Company's North America and Other Regions segment during the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
Employee Separation and Other Cash Charges	2015			2014
Beginning balance:	$	8,087		$	397
North America	—			—
Other regions	8,087			397
Period charges:	$	375		$	—
North America	—			—
Other regions	375			—
Payments through June 30	$	(1,246	)	$	(296	)
North America	—			—
Other regions	(1,246		)	(296		)
Ending balance June 30	$	7,216		$	101
North America	—			—
Other regions	7,216			101

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Goodwill and Other Intangibles

3 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES

Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to amortization, but rather is tested for impairment annually or whenever events and circumstances indicate that an impairment may have occurred. The Company has chosen the first day of the last quarter of its fiscal year as the date to perform its annual goodwill impairment test.

         The Company has no intangible assets with indefinite useful lives. It does have intangible assets which are amortized. The following table summarizes the changes in the Company’s goodwill and other intangibles for the periods provided below:

			Amortizable Intangibles
	Goodwill (1)		Customer Relationship Intangible			Production and Supply Contract Intangibles			Internally Developed Software Intangible			Total
Weighted average remaining useful     life in years as of June 30, 2015			9.75			5.50			—
March 31, 2014 balance
Gross carrying amount	$	2,794	$	33,700		$	14,893		$	17,804		$	69,191
Accumulated amortization	—		(14,954		)	(4,752		)	(14,760		)	(34,466		)
Net March 31, 2014	2,794		18,746			10,141			3,044			34,725
Additions	—		—			—			269			269
Amortization expense	—		(421		)	(146		)	(192		)	(759		)
Net June 30, 2014	2,794		18,325			9,995			3,121			34,235
Additions	—		—			—			429			429
Amortization expense	—		(1,264		)	(888		)	(621		)	(2,773		)
Net March 31, 2015	2,794		17,061			9,107			2,929			31,891
Amortization expense	—		(421		)	(270		)	(206		)	(897		)
Net June 30, 2015	$	2,794	$	16,640		$	8,837		$	2,723		$	30,994

(1) Goodwill of $2,794 relates to the North America segment.

         The following table summarizes the estimated future intangible asset amortization expense:

For Fiscal Years Ended	Customer Relationship Intangible		Production and Supply Contract Intangible		Internally Developed Software Intangible*		Total
July 1, 2015 through March 31, 2016	$	1,264	$	2,189	$	1,071	$	4,524
2017	1,685		1,405		740		3,830
2018	1,685		1,403		512		3,600
2019	1,685		1,397		259		3,341
2020	1,685		1,396		141		3,222
Later	8,636		1,047		—		9,683
	$	16,640	$	8,837	$	2,723	$	28,200

*  Estimated amortization expense for the internally developed software is based on costs accumulated as of June 30, 2015. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

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Variable Interest Entities

3 Months Ended

Jun. 30, 2015

Variable Interest Entities [Abstract]

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES

The Company holds variable interests in seven joint ventures that are accounted for under the equity method of accounting. These joint ventures primarily procure or process inventory on behalf of the Company and the other joint venture partners. The variable interests relate to equity investments and advances made by the Company to the joint ventures. In addition, the Company also guarantees two of its joint venture’s borrowings which also represents a variable interest in those joint ventures. The Company is not the primary beneficiary, as it does not have the power to direct the activities that most significantly impact the economic performance of the entities as a result of the entities’ management and board of directors structure. Therefore, these entities are not consolidated. At June 30, 2015 and 2014, and March 31, 2015, the Company’s investment in these joint ventures was $53,491, $50,441, and $53,678, respectively and is classified as Investments in Unconsolidated Affiliates in the Condensed Consolidated Balance Sheets. The Company’s advances to these joint ventures at June 30, 2015 and 2014, and March 31, 2015, respectively were $3,796, $8,222 and $3,293 and are classified as Accounts Receivable, Related Parties in the Condensed Consolidated Balance Sheets. The Company guaranteed an amount to two joint ventures not to exceed $111,622, $137,333 and $105,983 at June 30, 2015 and 2014, and March 31, 2015, respectively. The investments, advances and guarantees in these joint ventures represent the Company’s maximum exposure to loss.

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Segment Information

3 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company purchases, processes, sells and stores leaf tobacco. Tobacco is purchased in more than 35 countries and shipped to approximately 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.

Beginning April 1, 2015, the Company has revised its reportable segments. Prior year segment data has been recast to conform with the current year segment presentation. See Note 1 "Basis of Presentation and Significant Accounting Policies" to the "Notes to Condensed Consolidated Financial Statements" for further information.         

    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 the purchase of the product or the service provided through sale based on the source of the product or service and all intercompany transactions are allocated to the operating segment that either purchases or processes the tobacco.

          The following table presents the summary segment information for the three months ended June 30, 2015 and 2014:       

	Three Months Ended June 30,
	2015			2014
Sales and other operating revenues:
North America	$	30,300		$	35,389
Other regions	235,982			213,755
Total revenue	$	266,282		$	249,144
Operating income:
North America	$	871		$	2,034
Other regions	(3,775		)	712
Total operating income (loss)	(2,904		)	2,746
Interest expense	27,773			26,922
Interest income	1,374			1,351
Loss before income taxes and other items	$	(29,303	)	$	(22,825	)

Analysis of Segment Assets		June 30, 2015		June 30, 2014		March 31, 2015
Segment assets:
	North America	$	328,461	$	259,968	$	231,131
	Other regions	1,503,225		1,690,293		1,395,515
	Total assets	$	1,831,686	$	1,950,261	$	1,626,646

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Earnings Per Share

3 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

After the close of all trading on June 26, 2015, the Company’s approved 1-for-10 reverse stock split of its common stock became effective. As a result, every 10 shares of Alliance One common stock outstanding were combined into one share of Alliance One common stock, reducing the number of outstanding shares of the Company’s common stock at June 26, 2015 from approximately 88.6 million shares to approximately 8.86 million shares. This change did not affect any shareholder’s rights. No fractional shares were issued in connection with the reverse stock split. Instead, the Company issued one full share of the post-reverse stock split common stock to any shareholder who would have been entitled to receive a fractional share as a result of the reverse stock split. Each common shareholder holds the same percentage of the outstanding common stock immediately following the reverse split as that shareholder did immediately prior to the reverse split, except for minor adjustments due to the additional net share fraction issued as a result of the treatment of fractional shares. For the three months ended June 30, 2014, the weighted average number of common shares has been restated to a post-reverse stock split-adjusted basis.

The weighted average number of common shares outstanding is reported as the weighted average of the total shares of common stock outstanding net of shares of common stock held by a wholly owned subsidiary. Shares of common stock owned by the subsidiary were 785 at June 30, 2015 and 2014. This subsidiary waives its right to receive dividends and it does not have the right to vote.

          Certain potentially dilutive options were not included in the computation of earnings per diluted share because their exercise prices were greater than the average market price of the shares of common stock during the period and their effect would be antidilutive. These shares totaled 656 at a weighted average exercise price of $60.39 per share at June 30, 2015 and 686 at a weighted average exercise price of $60.42 per share at June 30, 2014.

          In connection with the offering of the Company’s 5.5% Convertible Senior Subordinated Notes due 2014, issued on July 2, 2009 (the “Convertible Notes”), the Company entered into privately negotiated convertible note hedge transactions (the “convertible note hedge transactions”) equal to the number of shares that underlie the Company’s Convertible Notes. These convertible note hedge transactions were designed to reduce the potential dilution of the Company’s common stock upon conversion of the Convertible Notes in the event that the value per share of common stock exceeded the initial conversion price of $50.28 per share on a post-reverse stock split basis. These shares were not included in the computation of earnings per diluted share because their inclusion would be antidilutive. The Convertible Notes matured during the three months ended September 30, 2014.

          The following table summarizes the computation of earnings per share for the three months ended June 30, 2015 and 2014, respectively.

8. EARNINGS PER SHARE (continued)

	Three Months Ended June 30,
(in thousands, except per share data)	2015				2014
BASIC LOSS
Net loss attributable to Alliance One International, Inc.	$	(25,950	)		$	(23,685	)
SHARES
Weighted average number of shares outstanding	8,862				8,799
BASIC LOSS PER SHARE	$	(2.93	)		$	(2.69	)
DILUTED LOSS
Net loss attributable to Alliance One International, Inc.	$	(25,950	)		$	(23,685	)
Plus interest expense on 5 1/2% convertible notes,    net of tax	—				—			*
Net loss attributable to Alliance One International, Inc.          as adjusted	$	(25,950	)		$	(23,685	)
SHARES
Weighted average number of common shares    outstanding	8,862				8,799
Plus: Restricted shares issued and shares applicable to               stock options and restricted stock units, net of              shares assumed to be purchased from proceeds              at average market price	—			*	—			*
Assuming conversion of 5 1/2% convertible               notes at the time of issuance	—				—			*
Shares applicable to stock warrants	—			**	—			**
Adjusted weighted average number of common   shares outstanding	8,862				8,799
DILUTED LOSS PER SHARE	$	(2.93	)		$	(2.69	)
* Assumed conversion of convertible notes at the beginning of the period has an antidilutive effect on earnings per share. The convertible notes matured during the three months ended September 30, 2014. All outstanding restricted shares and shares applicable to stock options and restricted stock units are excluded because their inclusion would have an antidilutive effect on the loss per share.
** For the three months ended June 30, 2015 and 2014, the warrants were not assumed exercised because the exercise price was more than the average price for the periods presented. The warrants began expiring October 15, 2014 and were fully expired on April 8, 2015.

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Stock-Based Compensation

3 Months Ended

Jun. 30, 2015

Share-based Compensation [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

The Company recorded stock-based compensation expense related to stock-based awards granted under its various employee and non-employee stock incentive plans of $1,104 and $750 for the three months ended June 30, 2015 and 2014, respectively, of which $291 and $19, respectively were with respect to stock-based awards payable in cash.

          The Company’s shareholders approved amendments to the 2007 Incentive Plan (the “2007 Plan”) at its annual meetings of shareholders held on August 11, 2011 and August 6, 2009. The 2007 Plan is an omnibus plan that provides the flexibility to grant a variety of equity awards including stock options, stock appreciation rights, stock awards, stock units, performance awards and incentive awards to officers, directors and employees of the Company.

          During the three months ended June 30, 2015 and 2014, respectively, the Company made the following stock-based compensation awards on a post-split basis:

9. STOCK-BASED COMPENSATION (continued)

	Three Months Ended June 30,		Three Months Ended June 30,
(in thousands, except grant date fair value)	2015		2014
Restricted Stock
Number Granted	6		—
Grant Date Fair Value	$	23.91	—
Restricted Stock Units
Number Granted	—		22
Grant Date Fair Value	$	—	$	27.20
Cash-Settled Restricted Stock Units
Number Granted	—		44
Grant Date Fair Value	$	—	$	27.20
PerformanceBased Stock Units
Number Granted	—		22
Grant Date Fair Value	$	—	$	27.20
Cash-Settled Performance Based Stock Units
Number Granted	—		44
Grant Date Fair Value	$	—	$	27.20

          Under the terms of the Performance Based Stock Units, shares ultimately issued will be contingent upon specified business performance goals. Unrestricted stock consists of shares issued to non-employee directors of the Company which are not subject to a minimum vesting period.

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Contingencies and Other Information

3 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCIES AND OTHER INFORMATION

CONTINGENCIES AND OTHER INFORMATION

Non-Income Tax

The government in the Brazilian State of Parana (“Parana”) issued a tax assessment on October 26, 2007 with respect to local intrastate trade tax credits that result primarily from tobacco transferred between states within Brazil. The assessment for intrastate trade tax credits taken is $4,246 and the total assessment including penalties and interest at June 30, 2015 is $12,273. The Company believes it has properly complied with Brazilian law and will contest any assessment through the judicial process. Should the Company lose in the judicial process, the loss of the intrastate trade tax credits would have a material impact on the financial statements of the Company.  The Company also has local intrastate trade tax credits in the Brazilian State of Santa Catarina. This jurisdiction permits the sale or transfer of excess credits to third parties, however approval must be obtained from the tax authorities. The Company has an agreement with the state government regarding the amounts and timing of credits that can be sold. The tax credits have a carrying value of $5,890 at June 30, 2015, which is net of impairment charges based on management’s expectations about future realization. The intrastate trade tax credits will continue to be monitored for impairment in future periods based on market conditions and the Company’s ability to use or sell the tax credits.

         In 1969, the Brazilian government created a tax credit program that allowed companies to earn IPI tax credits (“IPI credits”) based on the value of their exports. The government began to phase out this program in 1979, which resulted in numerous lawsuits between taxpayers and the Brazilian government. The Company has a long legal history with respect to credits it earned while the IPI credit program was in effect. In 2001, the Company won a claim related to certain IPI credits it earned between 1983 and 1990. The Brazilian government appealed this decision and numerous rulings and appeals were rendered on behalf of both the government and the Company from 2001 through 2013. Because of this favorable ruling, the Company began to use these earned IPI credits to offset federal taxes in 2004 and 2005, until it received a Judicial Order to suspend the IPI offsetting in 2005. The value of the federal taxes offset in 2004 and 2005 was $24,142 and the Company established a reserve on these credits at the time of offsetting as they were not yet realizable due to the legal uncertainty that existed. Specifically, the Company extinguished other federal tax liabilities using IPI credits and recorded a liability in Pension, Postretirement and Other Long-Term Liabilities to reflect that the credits were not realizable at that time due to the prevalent legal uncertainty. On March 7, 2013, the Brazilian Supreme Court rendered a final decision in favor of the Company that recognized the validity of the IPI credits and secured the Company's right to benefit from the IPI credits earned from March 1983 to October 1990. This final decision expressly stated the Company has the right to the IPI credits. The Company estimated the total amount of the IPI credits to be approximately $94,316 at March 31, 2013. Since the March 2013 ruling definitively (without the government's ability to appeal) granted the Company the ownership of the IPI credits generated between 1983 and 1990 the Company believed the amount of IPI credits that were used to offset other federal taxes in 2004 and 2005 were realizable beyond a reasonable doubt. Accordingly, and at March 31, 2013, the Company

10. CONTINGENCIES AND OTHER INFORMATION (continued)

Non-Income Tax (continued)

recorded the $24,142 IPI credits it realized in the Statements of Consolidated Operations in Other Income. No further benefit has been recognized pending the outcome of the judicial procedure to ascertain the final amount as those amounts have not yet been

realized.

Other

Mindo, S.r.l., the purchaser in 2004 of the Company's Italian subsidiary Dimon Italia, S.r.l., asserted claims against a subsidiary of the Company arising out of that sale transaction in an action filed before the Court of Rome on April 12, 2007.  The claim involved a guaranty letter issued by a consolidated subsidiary of the Company in connection with the sale transaction, and sought the recovery of €7,400 plus interest and costs.On November 11, 2013, the court issued its judgment in favor of the Company’s subsidiary, rejecting the claims asserted by Mindo, S.r.l., and awarding the Company’s subsidiary legal costs of €48.  On December 23, 2014, Mindo, S.r.l. appealed the judgment of the Court of Rome to the Court of Appeal of Rome.  A hearing before the Court of Appeal of Rome was held on June 12, 2015, which was adjourned pending a further hearing set for February 2018.  The outcome of, and timing of a decision on, the appeal are uncertain.

          In addition to the above-mentioned matter, certain of the Company’s subsidiaries are involved in other litigation or legal matters incidental to their business activities, including tax matters.  While the outcome of these matters cannot be predicted with certainty, the Company is vigorously defending them and does not currently expect that any of them will have a material adverse effect on its business or financial position. However, should one or more of these matters be resolved in a manner adverse to its current expectation, the effect on the Company’s results of operations for a particular fiscal reporting period could be material.

          In accordance with generally accepted accounting principles, the Company records all known asset retirement obligations (“ARO”) for which the liability can be reasonably estimated. Currently, it has identified an ARO associated with one of its facilities that requires it to restore the land to its initial condition upon vacating the facility. The Company has not recognized a liability under generally accepted accounting principles for this ARO because the fair value of restoring the land at this site cannot be reasonably estimated since the settlement date is unknown at this time. The settlement date is unknown because the land restoration is not required until title is returned to the government, and the Company has no current or future plans to return the title. The Company will recognize a liability in the period in which sufficient information is available to reasonably estimate its fair value.

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Debt Arrangements

3 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

DEBT ARRANGEMENTS

DEBT ARRANGEMENTS

At June 30, 2015, $185,000 was outstanding under the senior secured revolving credit facility. The Company continuously monitors its compliance with the covenants of its senior secured revolving credit facility and its senior notes. Significant changes in market conditions or other factors could adversely affect the Company's business and future debt covenant compliance thereunder. As a result, the Company may not be able to maintain compliance with the covenants over the next twelve months. If the Company were unable to maintain compliance with the covenants in the senior secured revolving credit facility agreement, as amended from time-to-time, the Company would seek modification to the existing agreement to further amend covenants and extend maturities.

          If the Company were unable to obtain modification, in a scenario where it is required, the Company could decide to pay off outstanding amounts and terminate the agreement. In such case, the liquidity provided by the agreement would not be available and the Company believes that it has sufficient liquidity from operations and other available funding sources to meet future requirements.

          As amended, the senior secured credit facility restricts the Company from paying any dividends during the remaining term of the facility. In addition, the indenture governing the Company's senior notes contains similar restrictions and also prohibits the payment of dividends and other distributions if the Company fails to satisfy a ratio of consolidated EBITDA to fixed charges of at least 2.0 to 1.0. At June 30, 2015, the Company did not satisfy this fixed charge coverage ratio. The Company may from time to time not satisfy this ratio.

On May 20, 2016, the Company entered into the Fourth Amendment to Amended and Restated Credit Agreement (the "Fourth Amendment"), which amended the Credit Agreement as described in Note 20 “Subsequent Events” of the Notes to the Condensed Consolidated Financial Statements (As Restated).

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Derivative and Other Financial Instruments

3 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

DERIVATIVE FINANCIAL INSTRUMENTS

Fair Value of Derivative Financial Instruments

The Company recognizes all derivative financial instruments, such as foreign exchange contracts at fair value. Changes in the fair value of derivative financial instruments are either recognized periodically in income or in shareholders’ equity as a component of other comprehensive income depending on whether the derivative financial instrument qualifies for hedge accounting, and if so, whether it qualifies as a fair value hedge or a cash flow hedge. The Company has elected not to offset fair value amounts recognized for derivative instruments with the same counterparty under a master netting agreement. See Note 17 “Fair Value Measurements” to the “Notes to Condensed Consolidated Financial Statements” for further information on fair value methodology.

 12. DERIVATIVE FINANCIAL INSTRUMENTS (continued)

The following table summarizes the fair value of the Company’s derivatives by type at June 30, 2015 and 2014, and March 31, 2015.

	Fair Values of Derivative Instruments
	Assets			Liabilities
Derivatives Not Designated as Hedging Instruments:	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Foreign currency contracts at June 30, 2015	Other Current Assets	$	609	Accrued Expenses and Other Current Liabilities	$	—
Foreign currency contracts at June 30, 2014	Other Current Assets	$	1,550	Accrued Expenses and Other Current Liabilities	$	—
Foreign currency contracts at March 31, 2015	Other Current Assets	$	1,373	Accrued Expenses and Other Current Liabilities	$	—

Earnings Effects of Derivatives

The Company periodically enters into forward or option currency contracts to protect against volatility associated with certain non-U.S. dollar denominated forecasted transactions. These contracts are for green tobacco purchases and processing costs as well as selling, general and administrative costs as the Company deems necessary. These contracts do not meet the requirements for hedge accounting treatment under generally accepted accounting principles, and as such, all changes in fair value are reported in income each period.

          The following table summarizes the earnings effects of derivatives in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2015 and 2014.

		Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	Three Months Ended June 30,
		2015			2014
Foreign currency contracts	Cost of goods and services sold	$	(1,392	)	$	2,072

Credit Risk

Financial instruments, including derivatives, expose the Company to credit loss in the event of non-performance by counterparties. The Company manages its exposure to counterparty credit risk through specific minimum credit standards, diversification of counterparties, and procedures to monitor concentrations of credit risk. If a counterparty fails to meet the terms of an arrangement, the Company’s exposure is limited to the net amount that would have been received, if any, over the arrangement’s remaining life. The Company does not anticipate non-performance by the counterparties and no material loss would be expected from non-performance by any one of such counterparties.

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Pension and Postretirement Benefits

3 Months Ended

Jun. 30, 2015

Pension and Other Postretirement Benefit Expense [Abstract]

PENSION AND POSTRETIREMENT BENEFITS

PENSION AND POSTRETIREMENT BENEFITS

The Company has multiple benefit plans at several locations. The Company has a defined benefit plan that provides retirement benefits for substantially all U.S. salaried personnel based on years of service rendered, age and compensation. The Company also maintains various other Excess Benefit and Supplemental Plans that provide additional benefits to (1) certain individuals whose compensation and the resulting benefits that would have actually been paid are limited by regulations imposed by the Internal Revenue Code and (2) certain individuals in key positions. The Company funds these plans in amounts consistent with the funding requirements of federal law and regulations.

         Additional non-U.S. defined benefit plans sponsored by certain subsidiaries cover certain full-time employees located in Germany, Turkey, and the United Kingdom.

13. PENSION AND POSTRETIREMENT BENEFITS (continued)

Components of Net Periodic Benefit Cost

Net periodic pension cost for continuing operations consisted of the following:

	Three Months Ended June 30,
	2015			2014
Service cost	$	502		$	510
Interest expense	1,462			1,693
Expected return on plan assets	(1,554		)	(1,677		)
Amortization of prior service cost	42			48
Actuarial loss	849			557
Net periodic pension cost	$	1,301		$	1,131

Employer Contributions

The Company’s investment objectives are to generate consistent total investment return to pay anticipated plan benefits, while minimizing long-term costs. Financial objectives underlying this policy include maintaining plan contributions at a reasonable level relative to benefits provided and assuring that unfunded obligations do not grow to a level to adversely affect the Company’s financial health. For the three months ended June 30, 2015, contributions of $2,127 were made to pension plans for fiscal 2016. Additional contributions to pension plans of approximately $6,552 are expected during the remainder of fiscal 2016. However, this amount is subject to change, due primarily to asset performance significantly above or below the assumed long-term rate of return on pension assets and significant changes in interest rates.

Postretirement Health and Life Insurance Benefits

The Company also provides certain health and life insurance benefits to retired employees, and their eligible dependents, who meet specified age and service requirements. As of June 30, 2015, contributions of $170 were made to the plans for fiscal 2016. Additional contributions of $560 to the plans are expected during the rest of fiscal 2016. The Company retains the right, subject to existing agreements, to modify or eliminate the postretirement medical benefits.

Components of Net Periodic Benefit Cost

Net periodic benefit cost for postretirement health and life insurance benefit plans consisted of the following:

	Three Months Ended June 30,
	2015			2014
Service cost	$	10		$	11
Interest expense	111			134
Amortization of prior service cost	(3		)	(303		)
Actuarial loss	112			111
Net periodic pension cost (benefit)	$	230		$	(47	)

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Inventories

3 Months Ended

Jun. 30, 2015

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

The following table summarizes the Company’s costs in inventory:

	June 30, 2015		June 30, 2014		March 31, 2015
Processed tobacco	$	640,558	$	636,354	$	490,674
Unprocessed tobacco	201,553		312,641		206,760
Other	43,786		44,683		43,509
	$	885,897	$	993,678	$	740,943

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Other Comprehensive Income (Loss)

3 Months Ended

Jun. 30, 2015

Equity [Abstract]

OTHER COMPREHENSIVE INCOME (LOSS)

OTHER COMPREHENSIVE INCOME (LOSS)

The following tables set forth the changes in each component of accumulated other comprehensive loss, net of tax, attributable to the Company:

	Currency Translation Adjustment			Pensions, Net of Tax			Accumulated Other Comprehensive Loss
Balances, March 31, 2015	$	(14,154	)	$	(52,232	)	$	(66,386	)
Other comprehensive earnings before reclassifications	2,307			225			2,532
Amounts reclassified to net earnings, net of tax	—			1,000			1,000
Other comprehensive earnings, net of tax	2,307			1,225			3,532
Balances, June 30, 2015	$	(11,847	)	$	(51,007	)	$	(62,854	)
Balances, March 31, 2014	$	(1,640	)	$	(36,686	)	$	(38,326	)
Other comprehensive earnings before reclassifications	208			—			208
Amounts reclassified to net earnings, net of tax	—			414			414
Other comprehensive earnings, net of tax	208			414			622
Balances, June 30, 2014	$	(1,432	)	$	(36,272	)	$	(37,704	)

The following table sets forth amounts by component, reclassified from accumulated other comprehensive loss to earnings for the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
	2015		2014
Pension and postretirement plans (*):
Actuarial loss	$	961	$	669
Amortization of prior service cost	39		(255		)
	$	1,000	$	414
Amounts reclassified from accumulated other comprehensive losses to net earnings	$	1,000	$	414

(*) Amounts are included in net periodic benefit costs for pension and postretirement plans. See Note 13 "Pension and

Postretirement Benefits" to the "Notes to Condensed Consolidated Financial Statements" for further information.

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Sale of Receivables

3 Months Ended

Jun. 30, 2015

Disclosure of Securitized or Asset-backed Financing Arrangement Assets and Other Financial Assets Managed Together [Abstract]

SALE OF RECEIVABLES

SALE OF RECEIVABLES

The Company sells trade receivables to unaffiliated financial institutions under three accounts receivable securitization programs. Under the first program, the Company continuously sells a designated pool of trade receivables to a special purpose entity, which in turn sells 100% of the receivables to an unaffiliated financial institution. During the three months ended June 30, 2015, the designated pool was adjusted from up to $250,000 trade receivables to $150,000 trade receivables. This program allows the Company to receive a cash payment and a deferred purchase price receivable for sold receivables. Following the sale and transfer of the receivables to the special purpose entity, the receivables are isolated from the Company and its affiliates, and upon the sale and transfer of the receivables from the special purpose entity to the unaffiliated financial institution effective control of the receivables is passed to the unaffiliated financial institution, which has all rights, including the right to pledge or sell the receivables. This program requires a minimum level of deferred purchase price to be retained by the Company in connection with the sales. The Company services, administers and collects the receivables on behalf of the special purpose entity and receives a servicing fee of 0.5% of serviced receivables per annum. As the Company estimates the fee it receives in return for its obligation to service these receivables at fair value, no servicing assets or liabilities are recognized. Servicing fees recognized were not material and are recorded as a reduction of Selling, General and Administrative Expenses within the Condensed Consolidated Statements of Operations.

16. SALE OF RECEIVABLES (continued)

The agreements for the second and third securitization programs also allow the Company to receive a cash payment and a deferred purchase price receivable for sold receivables. These are uncommitted programs, whereby the Company offers receivables for sale to the respective unaffiliated financial institution, which are then subject to acceptance by the unaffiliated financial institution. Following the sale and transfer of the receivables to the unaffiliated financial institution, the receivables are isolated from the Company and its affiliates, and effective control of the receivables is passed to the unaffiliated financial institution, which

has all rights, including the right to pledge or sell the receivables. The Company receives no servicing fee from the unaffiliated financial institution and as a result, has established a servicing liability based upon unobservable inputs, primarily discounted cash flow. This liability is recorded in Accrued Expenses and Other Current Liabilities in the Condensed Consolidated Balance Sheets. The investment limits under these agreements are $35,000 and $100,000, respectively.

          Under the programs, all of the receivables sold for cash are removed from the Condensed Consolidated Balance Sheets and the net cash proceeds received by the Company are included as cash provided by operating activities in the Condensed Consolidated Statements of Cash Flows. A portion of the purchase price for the receivables is paid by the unaffiliated financial institutions in cash and the balance is a deferred purchase price receivable, which is paid as payments on the receivables are collected from account debtors. The deferred purchase price receivable represents a continuing involvement and a beneficial interest in the transferred financial assets and is recognized at fair value as part of the sale transaction. The deferred purchase price receivables are included in Trade and Other Receivables, Net in the Condensed Consolidated Balance Sheets and are valued using unobservable inputs (i.e., level three inputs), primarily discounted cash flow. As servicer of these facilities, the Company may receive funds that are due to the unaffiliated financial institutions which are net settled on the next settlement date. Trade and Other Receivables, Net in the Condensed Consolidated Balance Sheets has been reduced by $22,090, $13,721 and $20,396 as a result of the net settlement as of June 30, 2015 and 2014 and March 31, 2015, respectively. See Note 17 "Fair Value Measurements" to the "Notes to Condensed Consolidated Financial Statements" for further information.

          The difference between the carrying amount of the receivables sold under these programs and the sum of the cash and fair value of the other assets received at the time of transfer is recognized as a loss on sale of the related receivables and recorded in Other Income (Expense) in the Condensed Consolidated Statements of Operations.

          The following table summarizes the Company’s accounts receivable securitization information as of the dates shown:

	June 30,				March 31,
	2015		2014		2015
Receivables outstanding in facility	$	109,400	$	70,506	$	235,162
Beneficial interest	$	23,256	$	24,883	$	40,712
Servicing liability	$	22	$	43	$	131
Cash proceeds for the three months ended June 30:
Cash purchase price	$	82,672	$	41,637	$	622,844
Deferred purchase price	44,663		38,502		229,573
Service fees	167		172		589
Total	$	127,502	$	80,311	$	853,006

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Fair Value Measurements

3 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. A three-level valuation hierarchy based upon observable and non-observable inputs is utilized. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy:

• Level 1 - Quoted prices for identical assets or liabilities in active markets.

• Level 2 - Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

• Level 3 - Significant inputs to the valuation model are unobservable.

          The Company's financial assets and liabilities measured at fair value include derivative instruments, securitized beneficial interests and guarantees. The application of the fair value guidance to the non-financial assets and liabilities primarily includes assessments of investments in subsidiaries, goodwill and other intangible assets and long-lived assets for potential impairment.

          Following are descriptions of the valuation methodologies the Company uses to measure different assets or liabilities at fair value.

17. FAIR VALUE MEASUREMENTS (continued)

Debt

The fair value of debt is measured for purpose of disclosure. Debt is shown at historical value in the Condensed Consolidated Balance Sheets. When possible, to measure the fair value of its debt the Company uses quoted market prices of its own debt with approximately the same remaining maturities. When this is not possible, the fair value of debt is calculated using discounted cash flow models with interest rates based upon market based expectations, the Company's credit risk and the contractual terms of the debt instrument. The Company also has portions of its debt with maturities of one year or less for which book value is a reasonable approximation of the fair value of this debt. The fair value of debt is considered to fall within Level 2 of the fair value hierarchy as significant value drivers such as interest rates are readily observable. The carrying value and estimated fair value of the Company's Long-Term Debt are shown in the table below.

	June 30, 2015		June 30, 2014		March 31, 2015
Carrying value	$	926,953	$	829,752	$	741,837
Estimated fair value	855,886		864,938		653,548

Derivative financial instruments

The Company's derivatives consist of foreign currency contracts. The fair value of the derivatives are determined using a discounted cash flow analysis on the expected future cash flows of each derivative. This analysis utilizes observable market data including forward yield curves and implied volatilities to determine the market's expectation of the future cash flows of the variable component. The fixed and variable components of the derivative are then discounted using calculated discount factors developed based on the LIBOR swap rate and are netted to arrive at a single valuation for the period. The Company also incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. As of June 30, 2015 and 2014 and March 31, 2015 the inputs used to value the Company's derivatives fall within Level 2 of the fair value hierarchy. However, credit valuation adjustments associated with its derivatives could utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. Should the use of such credit valuation adjustment estimates result in a significant impact on the overall valuation, this would require reclassification to Level 3.

Securitized beneficial interests

The fair value of securitized beneficial interests is based upon a valuation model that calculates the present value of future expected cash flows using key assumptions for payment speeds and discount rates. The assumptions for payment speed are based on the Company's historical experience. The discount rates are based upon market trends and anticipated performance relative to the particular assets securitized which have been assumed to be commercial paper rate plus a margin or LIBOR plus a margin. Due to the use of the Company's own assumptions and the uniqueness of these transactions, securitized beneficial interests fall within Level 3 of the fair value hierarchy. Since the discount rate and the payment speed are components of the same equation, a change in either by 10% or 20% would change the value of the recorded beneficial interest at June 30, 2015 by $72 and $144, respectively.

Guarantees

The Company guarantees funds issued to tobacco suppliers by third party lending institutions and also guarantees funds borrowed by certain unconsolidated subsidiaries. The fair value of guarantees is based upon either the premium the Company would require to issue the same inputs or historical loss rates and as such these guarantees fall into Level 3 of the fair value hierarchy.

Tobacco supplier guarantees - The Company provides guarantees to third parties for indebtedness of certain tobacco suppliers to finance their crops. The fair value of these guarantees is determined using historical loss rates on both guaranteed and non-guaranteed tobacco supplier loans. Should the loss rates change 10% or 20%, the fair value of the guarantee at June 30, 2015 would change by $690 or $1,366, respectively.

Unconsolidated subsidiary guarantees - The fair value of these guarantees is determined using a discounted cash flow model based on the differential between interest rates available with and without the guarantees. The fair value of these guarantees is most closely tied to the theoretical interest rate differential. Should interest rates used in the model change by 10% or 20%, the fair value of the guarantee, at June 30, 2015 would change by $525 or $1,039, respectively.

17. FAIR VALUE MEASUREMENTS(continued)

Input Hierarchy of Items Measured at Fair Value on a Recurring Basis

The following table summarizes the items measured at fair value on a recurring basis:

	June 30, 2015						June 30, 2014						March 31, 2015
					Total Assets /						Total Assets /						Total Assets /
					Liabilities						Liabilities						Liabilities
	Level 2		Level 3		at Fair Value		Level 2		Level 3		at Fair Value		Level 2		Level 3		at Fair Value
Assets
Derivative financial instruments	$	609	$	—	$	609	$	1,550	$	—	$	1,550	$	1,373	$	—	$	1,373
Securitized beneficial interests	—		23,256		23,256		—		24,883		24,883		—		40,712		40,712
Total Assets	$	609	$	23,256	$	23,865	$	1,550	$	24,883	$	26,433	$	1,373	$	40,712	$	42,085
Liabilities
Guarantees	$	—	$	7,723	$	7,723	$	—	$	7,262	$	7,262	$	—	$	8,650	$	8,650
Derivative financial instruments	—		—		—		—		—		—		—		—		—
Total liabilities	$	—	$	7,723	$	7,723	$	—	$	7,262	$	7,262	$	—	$	8,650	$	8,650

Reconciliation of Change in Recurring Level 3 Balances

The following tables present the changes in Level 3 instruments measured on a recurring basis.

	Three Months Ended June 30, 2015
	Securitized Beneficial Interests			Guarantees
Beginning Balance, March 31, 2015	$	40,712		$	8,650
Issuances of guarantees/sales of receivables	33,782			4,557
Settlements	(51,167		)	(5,484		)
Losses recognized in earnings	(71		)	—
Ending Balance June 30, 2015	$	23,256		$	7,723

	Three Months Ended June 30, 2014
	Securitized Beneficial Interest			Guarantees
Beginning Balance, March 31, 2014	$	35,559		$	7,344
Issuances of guarantees/sales of receivables	21,513			4,281
Settlements	(31,725		)	(4,363		)
Losses recognized in earnings	(464		)	—
Ending Balance June 30, 2014	$	24,883		$	7,262

The amount of unrealized losses relating to assets still held at the respective dates of June 30, 2015 and 2014 and March 31, 2015 were $733, $509 and $2,034 on securitized beneficial interests.

          Gains and losses included in earnings are reported in Other Income.

17. FAIR VALUE MEASUREMENTS(continued)

Information About Fair Value Measurements Using Significant Unobservable Inputs

The following table summarizes significant unobservable inputs and the valuation techniques thereof at June 30, 2015:

	Fair Value at June 30, 2015			Unobservable Input	Range (Weighted Average)
Securitized Beneficial Interests	$	23,256	Discounted Cash Flow	Discount Rate	2.73% to 2.79%
				Payment Speed	82 to 99 days
Tobacco Supplier Guarantees	$	2,075	Historical Loss	Historical Loss	10.80% to 15.77%
Tobacco Supplier Guarantees	$	2,923	Discounted Cash Flow	Market Interest Rate	13.00% to 21.95%
Unconsolidated Subsidiary Guarantees	$	2,725	Discounted Cash Flow	Market Interest Rate	12.00	%

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Related Party Transactions

3 Months Ended

Jun. 30, 2015

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

The Company’s operating subsidiaries engage in transactions with related parties in the normal course of business. The following is a summary of balances and transactions with related parties of the Company:

	June 30, 2015		June 30, 2014		March 31, 2015
Balances:
Accounts receivable, related parties	$	89,285	$	76,672	$	41,816
Due to related parties	22,920		8,824		58,512

	Three Months Ended June 30,
	2015		2014
Transactions:
Sales	$	7,563	$	—
Purchases	22,651		18,100

          The Company’s operating subsidiaries have entered into transactions with affiliates of the Company for the purpose of procuring or processing inventory.

          The Company’s balances due to and from related parties are primarily with its deconsolidated Zimbabwe subsidiary. The remaining related party balances and transactions relate to the Company’s equity basis investments in companies located in Asia, South America, North America and Europe which purchase and process tobacco or produce consumable e-liquids.

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Investee Companies

3 Months Ended

Jun. 30, 2015

Equity Method Investments and Joint Ventures [Abstract]

INVESTEE COMPANIES

INVESTEE COMPANIES

The Company has equity method investments in companies in India, Thailand, Turkey and Brazil that purchase and process tobacco. The investees and ownership percentages are as follows: Alliance One Industries India Private Ltd. (India) 49%, Siam Tobacco Export Company (Thailand) 49%, Adams International Ltd. (Thailand) 49%, Oryantal Tutun Paketleme 50%, and China Brasil Tobacos Exportadora SA (“CBT”) 49%. On April 2, 2014, the Company completed the purchase of a 50% interest in Purilum, LLC, a U.S. company that develops, produces, and sells consumable e-liquids to manufacturers and distributors of e-vapor products.

          On March 26, 2014, upon the disposition of 51% interest in CBT, the difference between the book basis of the Company’s 49% interest and the fair value of the investment recorded created a basis difference of $15,990. The Company evaluated the contributed assets and identified basis differences in certain accounts, including inventory, intangible assets and deferred taxes. The basis differences are being amortized over the respective estimated lives of these assets and liabilities, which range from one to ten years. The Company’s earnings from the equity method investment are reduced by amortization expense related to these basis differences. At June 30, 2015, the basis difference was $12,855.

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Subsequent Events

3 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

SUBSEQUENT EVENT

SUBSEQUENT EVENTS

On July 23, 2015, the Company’s deconsolidated Zimbabwe subsidiary experienced a fire at its warehouse located in Harare which stored a portion of the green tobacco from the most recent harvest in that country. In addition to destroying green tobacco, the fire severely damaged the building and other fixed assets. The Company maintains insurance which provides for the recovery of loss from fire, including lost profit. The timing, and the exact amount, of insurance recovery related to the Harare fire is uncertain and an extended delay in receiving the full anticipated insurance recovery could adversely affect liquidity.

On May 20, 2016, the Company entered into the Fourth Amendment to the Amended and Restated Credit Agreement (the “Fourth Amendment"), which amended the Credit Agreement dated as of July 2, 2009, as amended and restated as of August 1, 2013, between the Company, certain of its subsidiaries, the lenders party thereto and Deutsche Bank Trust Company Americas, as administrative agent (as so amended and restated, the “Credit Agreement”).

The Fourth Amendment effected the following modifications to the Credit Agreement (capitalized terms are as defined in the Credit Agreement):

• modified the threshold for the Consolidated Interest Coverage Ratio for the fiscal quarter ending March 31, 2017 from 1.90 to 1.00 to 1.65 to 1.00;

• modified the threshold for the Consolidated Leverage Ratio for the fiscal quarter ending March 31, 2017 from 5.10 to 1.00 to 5.50 to 1.00; and

• modified the definition of Consolidated EBIT to permit the add backs for the specified periods as set forth in the table below in connection with certain discrepancies discovered with respect to the Company’s Kenyan subsidiary:

For the Quarter Ended	Kenyan Discrepancies	Legal and Professional Costs in Respect of Kenyan Discrepancies
March 31, 2013	$(1,745,717)	0
June 30, 2013	$2,198,708	0
September 30, 2013	$(1,492,481)	0
December 31, 2013	$4,681,765	0
March 31, 2014	$7,869,112	0
June 30, 2014	$1,834,281	0
September 30, 2014	$6,606,350	0
December 31, 2014	$449,593	0
March 31, 2015	$3,577,392	0
June 30, 2015	$5,263,723	0
September 30, 2015	$5,821,224	0
December 31, 2015	0	$1,771,000
March 31, 2016	0	$6,129,000
June 30, 2016	0	$4,000,000
September 30, 2016	0	$3,500,000

Prior to the execution of the Fourth Amendment, the Company would have been in violation of one or more covenants in fiscal years 2014, 2015 and 2016 as a result of improper accounting for accounts receivable, inventory, sales and cost of goods sold in Kenya.  In the Fourth Amendment, the lenders modified certain financial covenants and definitions as described above and, as a result, the Company was in compliance with all such amended covenants for fiscal years 2013, 2014 and 2015, and as of and for the three months ended June 30, 2015.

Note that in March 2016, Moody's Investors Service downgraded the Corporate Family Rating of the Company to Caa2 from Caa1. Moody's also downgraded the Probability of Default Rating to Caa2-PD from Caa1-PD, and the senior secured second lien note rating to Caa3 with a Loss Given Default (“LGD”) of 5 from Caa2 and a LGD of 5. At the same time Moody's affirmed the Company's senior secured bank credit facility rating at B1 with a LGD of 1 and the Speculative Grade Liquidity Rating at SGL-4. Standard & Poor’s (“S&P”) ratings are Corporate Credit Rating CCC+, senior secured second lien note rating CCC with a recovery rating (“RR”) of 5 and a senior secured debt rating of B with a RR of 1. Both Moody’s and S&P have outlook negative.

20. SUBSEQUENT EVENTS (continued)

However, the Company affirms its belief that the sources of capital it has access to are sufficient to fund its anticipated needs for fiscal years 2016 and 2017. As of March 31, 2016, available credit lines and cash were $604.5 million, comprised of $189.2 million in cash; $415.3 million of credit lines, of which $10.3 million was available under the U.S. revolving credit facility; and $405.0 million of foreign seasonal credit lines with $13.1 million exclusively for letters of credit. Notes payable to banks are typically for 180 to 270 days and are entered into each year in various locales around the world. The U.S revolver matures April 15, 2017 and the Company plans to either extend or refinance this facility during fiscal year 2017.  The Company's access to capital meets its current expectations and outlook that is anticipated to provide sufficient liquidity to fulfill its future funding requirements. General deterioration of its business and the cash flow that it generates, failure to renew foreign lines or an inability to extend or refinance its U.S. revolver could impact its ability to meet its future liquidity requirements.

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Basis of Presentation and Significant Accounting Policies (Policies)

3 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Because of the seasonal nature of the Company’s business, the results of operations for any fiscal quarter will not necessarily be indicative of results to be expected for other quarters or a full fiscal year. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of financial position, results of operation and cash flows at the dates and for the periods presented have been included. The unaudited information included in this Form 10-Q/A should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K/A for the fiscal year ended March 31, 2015.

Beginning April 1, 2015, the Company's management ceased evaluating performance of value added services as a separate operating segment. The Company's cut rag and other specialty products and services are now combined within the geographic operating segments in which they operate. The Company reviewed certain long-term financial performance and economic characteristics such as nature of products and services, production processes, type or class of customer, distribution methods for products and services, and regulatory environment. Based on review of the aggregation criteria, the Company concluded that Africa, Asia, Europe, and South America share similar economic indicators and are aggregated into one reportable segment “Other Regions.” The Company concluded that the economic characteristics of North America are dissimilar from the other operating segments and is disclosing it separately.               

Taxes Collected from Customers

Taxes Collected from Customers

Certain subsidiaries are subject to value added taxes on local sales.

Other Deferred Charges

Other Deferred Charges

Other deferred charges are primarily deferred financing costs that are amortized over the life of the debt.

New Accounting Standards

New Accounting Standards

Recent Accounting Pronouncements Not Yet Adopted

In May 2014, the Financial Accounting Standards Board ("FASB") issued new accounting guidance that outlines a single comprehensive model to use in accounting for revenue from contracts with customers. The primary objective of this accounting guidance is to recognize revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. This accounting guidance is effective for the Company on April 1, 2018. The Company is currently evaluating the impact of this new guidance.

     In August 2014, the FASB issued new accounting guidance on determining when and how to disclose going concern uncertainties in the financial statements. The primary objective of this accounting guidance is for management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. This accounting guidance is effective for the Company on March 31, 2017. The Company is currently evaluating the impact of this new guidance.

In April 2015, the FASB issued new accounting guidance that changes the presentation of debt issuance costs in financial statements. The primary objective of this accounting guidance is to present these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is still reported as interest expense. This accounting guidance is effective for the Company on April 1, 2016. The Company is currently evaluating the impact of this new guidance.

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Restatement of Previously Issued Consolidated Financial Statements (Tables)

3 Months Ended

Jun. 30, 2015

Accounting Changes and Error Corrections [Abstract]

Schedule of effect of correction of an error on previously reported financial statements

The following tables present the effect of the correction of the error on selected line items of our previously reported unaudited condensed consolidated financial statements for the three months ended June 30, 2015 and 2014:

	Condensed Consolidated Statements of Operations
	Three Months Ended June 30,
							2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)			As Restated
Sales and other operating revenues	$	263,812		$	—		$	2,923	$	(455	)	$	266,282
Cost of goods and services sold	229,598			8,456			—		(1,172		)	236,884
Gross profit (loss)	34,214			(8,456		)	2,923		717			29,398
Selling, general and administrative expenses	29,939			—			—		(25		)	29,914
Other income (expense)	586			—			—		(26		)	560
Operating income (loss)	1,913			(8,456		)	2,923		716			(2,904		)
Interest expense	27,691			—			—		82			27,773
Income (loss) before income taxes and other items	(24,404		)	(8,456		)	2,923		634			(29,303		)
Income tax expense (benefit)	(1,362		)	(2,174		)	202		120			(3,214		)
Net income (loss)	(22,910		)	(6,282		)	2,721		514			(25,957		)
Net income (loss) attributable to Alliance One International, Inc.	(22,903		)	(6,282		)	2,721		514			(25,950		)
Income (loss) per share:
Basic	(2.58		)	(0.71		)	0.31		0.06			(2.93		)
Diluted	(2.58		)	(0.71		)	0.31		0.06			(2.93		)

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

	Condensed Consolidated Statements of Operations
	Three Months Ended June 30,
								2014
(in thousands)		As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Sales and other operating revenues		$	249,017		$	—		$	125		$	—		$	249,144
Cost of goods and services sold		213,913			3,797			—			(1,839		)	215,873
Gross profit (loss)		35,104			(3,797		)	125			1,839			33,271
Selling, general and administrative expenses		31,325			—			—			—			31,325
Other income		800			—			—			—			800
Operating income (loss)		4,579			(3,797		)	125			1,839			2,746
Interest expense		26,922			—			—			—			26,922
Income (loss) before income taxes and other items		(20,992		)	(3,797		)	125			1,839			(22,825		)
Income tax expense (benefit)		(2,914		)	6,325			(3,167		)	76			320
Net income (loss)		(18,563		)	(10,122		)	3,292			1,763			(23,630		)
Net income (loss) attributable to Alliance One International, Inc.		(18,618		)	(10,122		)	3,292			1,763			(23,685		)
Income (loss) per share:
Basic		(2.12		)	(1.15		)	0.37			0.20			(2.69		)
Diluted		(2.12		)	(1.15		)	0.37			0.20			(2.69		)

	Condensed Consolidated Statements of Comprehensive Income (Loss)
	Three Months Ended June 30,
							2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)		As Restated
Net income (loss)	$	(22,910	)	$	(6,282	)	$	2,721	$	514	$	(25,957	)
Total comprehensive income (loss), net of tax	(19,603		)	(6,282		)	2,721		739		(22,425		)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(19,596		)	(6,282		)	2,721		739		(22,418		)

	Condensed Consolidated Statements of Comprehensive Income (Loss)
	Three Months Ended June 30,
							2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)		Other Adjustments (3)		As Restated
Net income (loss)	$	(18,563	)	$	(10,122	)	$	3,292	$	1,763	$	(23,630	)
Total comprehensive income (loss), net of tax	(17,941		)	(10,122		)	3,292		1,763		(23,008		)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(17,996		)	(10,122		)	3,292		1,763		(23,063		)

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

	June 30, 2015
Condensed Consolidated Balance Sheets (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Trade and other receivables, net	$	177,759		$	—		$	(4,536	)	$	—		$	173,223
Inventories	926,018			(40,121		)	—			—			885,897
Total current assets	1,471,926			(40,121		)	(4,536		)	—			1,427,269
Investments in unconsolidated affiliates	54,508			—			—			—			54,508
Deferred income taxes, net	29,394			—			—			1,505			30,899
Total assets	1,874,838			(40,121		)	(4,536		)	1,505			1,831,686
Accounts payable	77,758			—			—			389			78,147
Income taxes	9,740			(2,196		)	20			1,906			9,470
Total current liabilities	660,371			(2,196		)	20			2,295			660,490
Deferred income taxes	5,227			—			—			(3,749		)	1,478
Liability for unrecognized tax benefits	8,226			—			—			2,296			10,522
Pension, postretirement and other long-term benefits	89,301			—			—			—			89,301
Retained deficit	(192,316		)	(37,925		)	(4,556		)	663			(234,134		)
Accumulated other comprehensive loss	(62,854		)	—			—			—			(62,854		)
Total stockholders' equity of Alliance One International, Inc.	214,187			(37,925		)	(4,556		)	663			172,369
Total equity	217,654			(37,925		)	(4,556		)	663			175,836
Total liabilities and stockholders' equity	1,874,838			(40,121		)	(4,536		)	1,505			1,831,686

	June 30, 2014
Condensed Consolidated Balance Sheets (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Trade and other receivables, net	$	186,860		$	—		$	(8,918	)	$	—		$	177,942
Inventories	1,014,413			(20,735		)	—			—			993,678
Total current assets	1,530,361			(20,735		)	(8,918		)	—			1,500,708
Investments in unconsolidated affiliates	50,927			—			—			530			51,457
Deferred income taxes, net	40,878			—			—			—			40,878
Total assets	1,979,384			(20,735		)	(8,918		)	530			1,950,261
Accounts payable	89,054			—			—			—			89,054
Income taxes	9,619			7,131			(3,438		)	(4,791		)	8,521
Total current liabilities	799,432			7,131			(3,438		)	(4,791		)	798,334
Deferred income taxes	5,752			—			—			2,098			7,850
Liability for unrecognized tax benefits	9,526			—			—			2,985			12,511
Pension, postretirement and other long-term benefits	79,719			—			—			250			79,969
Retained deficit	(172,606		)	(27,866		)	(5,480		)	213			(205,739		)
Accumulated other comprehensive loss	(37,479		)	—			—			(225		)	(37,704		)
Total stockholders' equity of Alliance One International, Inc.	256,182			(27,866		)	(5,480		)	(12		)	222,824
Total equity	259,532			(27,866		)	(5,480		)	(12		)	226,174
Total liabilities and stockholders' equity	1,979,384			(20,735		)	(8,918		)	530			1,950,261

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

Condensed Statements 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, 2014	$	(153,988	)	$	(17,744	)	$	(8,772	)	$	(1,550	)	$	(182,054	)
Net loss	(18,618		)	(10,122		)	3,292			1,763			(23,685		)
Retained Deficit at June 30, 2014	(172,606		)	(27,866		)	(5,480		)	213			(205,739		)
Retained Deficit at March 31, 2015	(169,413		)	(31,643		)	(7,277		)	149			(208,184		)
Net loss	(22,903		)	(6,282		)	2,721			514			(25,950		)
Retained Deficit at June 30, 2015	(192,316		)	(37,925		)	(4,556		)	663			(234,134		)
Accumulated Other Comprehensive Income (in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Pensions, Net of Tax at March 31, 2014	$	(36,461	)	$	—		$	—		$	(225	)	$	(36,686	)
Pensions, Net of Tax at June 30, 2014	(36,047		)	—			—			(225		)	(36,272		)
Pensions, Net of Tax at March 31, 2015	(52,007		)	—			—			(225		)	(52,232		)
Other comprehensive loss, net of tax for three months ended June 30, 2015	1,000			—			—			225			1,225
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Total Stockholders' Equity at March 31, 2014	$	276,888		$	(17,744	)	$	(8,772	)	$	(1,775	)	$	248,597
Net Loss	(18,563		)	(10,122		)	3,292			1,763			(23,630		)
Total Stockholders' Equity at June 30, 2014	259,532			(27,866		)	(5,480		)	(12		)	226,174
Total Stockholders' Equity at March 31, 2015	236,264			(31,643		)	(7,277		)	(76		)	197,268
Net Loss	(22,910		)	(6,282		)	2,721			514			(25,957		)
Other comprehensive loss, net of tax	3,307			—			—			225			3,532
Total Stockholders' Equity at June 30, 2015	217,654			(37,925		)	(4,556		)	663			175,836

	Condensed Statement of Consolidated Cash Flows for June 30, 2015
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(22,910	)	$	(6,282	)	$	2,721		$	514		$	(25,957	)
Changes in operating assets and liabilities, net	(225,764		)	6,282			(2,721		)	(514		)	(222,717		)

	Condensed Statement of Consolidated Cash Flows for June 30, 2014
(in thousands)	As Previously Reported			Inventory Adjustments (1)			Receivables Adjustments (2)			Other Adjustments (3)			As Restated
Net loss	$	(18,563	)	$	(10,122	)	$	3,292		$	1,763		$	(23,630	)
Changes in operating assets and liabilities, net	(339,591		)	10,122			(3,292		)	(1,799		)	(334,560		)
Net cash used by operating acitivities	(348,171		)	—			—			(36		)	(348,207		)
Increase (decrease) in cash and cash equivalents	(108,543		)	—			—			(36		)	(108,579		)
Cash and cash equivalents at beginning of period	234,742			—			—			36			234,778

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

(1) Adjustments per the errors described above 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 for the errors described above related to improper revenue recognition.

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

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Guarantees (Tables)

3 Months Ended

Jun. 30, 2015

Guarantees [Abstract]

Summary of guarantees and associated fair values

The following table summarizes amounts guaranteed and the fair value of those guarantees:

	June 30, 2015		June 30, 2014		March 31, 2015
Amounts guaranteed (not to exceed)	$	276,566	$	283,228	$	300,557
Amounts outstanding under guarantee	165,222		186,522		185,486
Fair value of guarantees	7,723		7,262		8,650

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Restructuring and Asset Impairment Charges (Tables)

3 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following table summarizes the restructuring charges recorded in the Company’s reporting segments during the three months ended June 30, 2015 and 2014, respectively:

	Three Months Ended June 30,
Restructuring and Asset Impairment Charges	2015			2014
Employee separation and other cash charges:
Beginning balance	$	8,087		$	397
Period charges:
Severance charges	375			—
Total period charges	375			—
Payments through June 30	(1,246		)	(296		)
Ending balance June 30	$	7,216		$	101
Asset impairment and other non-cash charges	$	2,573		$	—
Total restructuring charges for the period	$	2,948		$	—

Schedule of Restructuring, Employee Separation and Other Cash Charges

The following table summarizes the employee separations and other cash charges recorded in the Company's North America and Other Regions segment during the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
Employee Separation and Other Cash Charges	2015			2014
Beginning balance:	$	8,087		$	397
North America	—			—
Other regions	8,087			397
Period charges:	$	375		$	—
North America	—			—
Other regions	375			—
Payments through June 30	$	(1,246	)	$	(296	)
North America	—			—
Other regions	(1,246		)	(296		)
Ending balance June 30	$	7,216		$	101
North America	—			—
Other regions	7,216			101

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Goodwill and Other Intangibles (Tables)

3 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Asset Rollforward

The following table summarizes the changes in the Company’s goodwill and other intangibles for the periods provided below:

			Amortizable Intangibles
	Goodwill (1)		Customer Relationship Intangible			Production and Supply Contract Intangibles			Internally Developed Software Intangible			Total
Weighted average remaining useful     life in years as of June 30, 2015			9.75			5.50			—
March 31, 2014 balance
Gross carrying amount	$	2,794	$	33,700		$	14,893		$	17,804		$	69,191
Accumulated amortization	—		(14,954		)	(4,752		)	(14,760		)	(34,466		)
Net March 31, 2014	2,794		18,746			10,141			3,044			34,725
Additions	—		—			—			269			269
Amortization expense	—		(421		)	(146		)	(192		)	(759		)
Net June 30, 2014	2,794		18,325			9,995			3,121			34,235
Additions	—		—			—			429			429
Amortization expense	—		(1,264		)	(888		)	(621		)	(2,773		)
Net March 31, 2015	2,794		17,061			9,107			2,929			31,891
Amortization expense	—		(421		)	(270		)	(206		)	(897		)
Net June 30, 2015	$	2,794	$	16,640		$	8,837		$	2,723		$	30,994

(1) Goodwill of $2,794 relates to the North America segment.

Estimated Intangible Asset Amortization Expense

The following table summarizes the estimated future intangible asset amortization expense:

For Fiscal Years Ended	Customer Relationship Intangible		Production and Supply Contract Intangible		Internally Developed Software Intangible*		Total
July 1, 2015 through March 31, 2016	$	1,264	$	2,189	$	1,071	$	4,524
2017	1,685		1,405		740		3,830
2018	1,685		1,403		512		3,600
2019	1,685		1,397		259		3,341
2020	1,685		1,396		141		3,222
Later	8,636		1,047		—		9,683
	$	16,640	$	8,837	$	2,723	$	28,200

*  Estimated amortization expense for the internally developed software is based on costs accumulated as of June 30, 2015. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

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Segment Information (Tables)

3 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

The following table presents the summary segment information for the three months ended June 30, 2015 and 2014:       

	Three Months Ended June 30,
	2015			2014
Sales and other operating revenues:
North America	$	30,300		$	35,389
Other regions	235,982			213,755
Total revenue	$	266,282		$	249,144
Operating income:
North America	$	871		$	2,034
Other regions	(3,775		)	712
Total operating income (loss)	(2,904		)	2,746
Interest expense	27,773			26,922
Interest income	1,374			1,351
Loss before income taxes and other items	$	(29,303	)	$	(22,825	)

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

Analysis of Segment Assets		June 30, 2015		June 30, 2014		March 31, 2015
Segment assets:
	North America	$	328,461	$	259,968	$	231,131
	Other regions	1,503,225		1,690,293		1,395,515
	Total assets	$	1,831,686	$	1,950,261	$	1,626,646

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Earnings Per Share (Tables)

3 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

 The following table summarizes the computation of earnings per share for the three months ended June 30, 2015 and 2014, respectively.

8. EARNINGS PER SHARE (continued)

	Three Months Ended June 30,
(in thousands, except per share data)	2015				2014
BASIC LOSS
Net loss attributable to Alliance One International, Inc.	$	(25,950	)		$	(23,685	)
SHARES
Weighted average number of shares outstanding	8,862				8,799
BASIC LOSS PER SHARE	$	(2.93	)		$	(2.69	)
DILUTED LOSS
Net loss attributable to Alliance One International, Inc.	$	(25,950	)		$	(23,685	)
Plus interest expense on 5 1/2% convertible notes,    net of tax	—				—			*
Net loss attributable to Alliance One International, Inc.          as adjusted	$	(25,950	)		$	(23,685	)
SHARES
Weighted average number of common shares    outstanding	8,862				8,799
Plus: Restricted shares issued and shares applicable to               stock options and restricted stock units, net of              shares assumed to be purchased from proceeds              at average market price	—			*	—			*
Assuming conversion of 5 1/2% convertible               notes at the time of issuance	—				—			*
Shares applicable to stock warrants	—			**	—			**
Adjusted weighted average number of common   shares outstanding	8,862				8,799
DILUTED LOSS PER SHARE	$	(2.93	)		$	(2.69	)
* Assumed conversion of convertible notes at the beginning of the period has an antidilutive effect on earnings per share. The convertible notes matured during the three months ended September 30, 2014. All outstanding restricted shares and shares applicable to stock options and restricted stock units are excluded because their inclusion would have an antidilutive effect on the loss per share.
** For the three months ended June 30, 2015 and 2014, the warrants were not assumed exercised because the exercise price was more than the average price for the periods presented. The warrants began expiring October 15, 2014 and were fully expired on April 8, 2015.

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Stock-Based Compensation (Tables)

3 Months Ended

Jun. 30, 2015

Share-based Compensation [Abstract]

Schedule of Share-based Compensation, Activity

During the three months ended June 30, 2015 and 2014, respectively, the Company made the following stock-based compensation awards on a post-split basis:

9. STOCK-BASED COMPENSATION (continued)

	Three Months Ended June 30,		Three Months Ended June 30,
(in thousands, except grant date fair value)	2015		2014
Restricted Stock
Number Granted	6		—
Grant Date Fair Value	$	23.91	—
Restricted Stock Units
Number Granted	—		22
Grant Date Fair Value	$	—	$	27.20
Cash-Settled Restricted Stock Units
Number Granted	—		44
Grant Date Fair Value	$	—	$	27.20
PerformanceBased Stock Units
Number Granted	—		22
Grant Date Fair Value	$	—	$	27.20
Cash-Settled Performance Based Stock Units
Number Granted	—		44
Grant Date Fair Value	$	—	$	27.20

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Derivative and Other Financial Instruments (Tables)

3 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Other Derivatives Not Designated As Hedging Instruments Statements Of Financial Performance And Financial Position Location

 The following table summarizes the earnings effects of derivatives in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2015 and 2014.

		Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	Three Months Ended June 30,
		2015			2014
Foreign currency contracts	Cost of goods and services sold	$	(1,392	)	$	2,072

The following table summarizes the fair value of the Company’s derivatives by type at June 30, 2015 and 2014, and March 31, 2015.

	Fair Values of Derivative Instruments
	Assets			Liabilities
Derivatives Not Designated as Hedging Instruments:	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Foreign currency contracts at June 30, 2015	Other Current Assets	$	609	Accrued Expenses and Other Current Liabilities	$	—
Foreign currency contracts at June 30, 2014	Other Current Assets	$	1,550	Accrued Expenses and Other Current Liabilities	$	—
Foreign currency contracts at March 31, 2015	Other Current Assets	$	1,373	Accrued Expenses and Other Current Liabilities	$	—

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Pension and Postretirement Benefits (Tables)

3 Months Ended

Jun. 30, 2015

Pension and Other Postretirement Benefit Expense [Abstract]

Schedule of Net Periodic Benefit Cost Not yet Recognized

Net periodic pension cost for continuing operations consisted of the following:

	Three Months Ended June 30,
	2015			2014
Service cost	$	502		$	510
Interest expense	1,462			1,693
Expected return on plan assets	(1,554		)	(1,677		)
Amortization of prior service cost	42			48
Actuarial loss	849			557
Net periodic pension cost	$	1,301		$	1,131

Schedule of Net Periodic Benefit Cost, Post Employment Benefits

Net periodic benefit cost for postretirement health and life insurance benefit plans consisted of the following:

	Three Months Ended June 30,
	2015			2014
Service cost	$	10		$	11
Interest expense	111			134
Amortization of prior service cost	(3		)	(303		)
Actuarial loss	112			111
Net periodic pension cost (benefit)	$	230		$	(47	)

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Inventories (Tables)

3 Months Ended

Jun. 30, 2015

Inventory Disclosure [Abstract]

Schedule of Inventory

The following table summarizes the Company’s costs in inventory:

	June 30, 2015		June 30, 2014		March 31, 2015
Processed tobacco	$	640,558	$	636,354	$	490,674
Unprocessed tobacco	201,553		312,641		206,760
Other	43,786		44,683		43,509
	$	885,897	$	993,678	$	740,943

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Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Jun. 30, 2015

Equity [Abstract]

Component of Accumulated Other Comprehensive Loss, Net of Tax

The following tables set forth the changes in each component of accumulated other comprehensive loss, net of tax, attributable to the Company:

	Currency Translation Adjustment			Pensions, Net of Tax			Accumulated Other Comprehensive Loss
Balances, March 31, 2015	$	(14,154	)	$	(52,232	)	$	(66,386	)
Other comprehensive earnings before reclassifications	2,307			225			2,532
Amounts reclassified to net earnings, net of tax	—			1,000			1,000
Other comprehensive earnings, net of tax	2,307			1,225			3,532
Balances, June 30, 2015	$	(11,847	)	$	(51,007	)	$	(62,854	)
Balances, March 31, 2014	$	(1,640	)	$	(36,686	)	$	(38,326	)
Other comprehensive earnings before reclassifications	208			—			208
Amounts reclassified to net earnings, net of tax	—			414			414
Other comprehensive earnings, net of tax	208			414			622
Balances, June 30, 2014	$	(1,432	)	$	(36,272	)	$	(37,704	)

Pretax Amounts by Component, Reclassified from Accumulated Other Comprehensive Loss to Earnings

The following table sets forth amounts by component, reclassified from accumulated other comprehensive loss to earnings for the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
	2015		2014
Pension and postretirement plans (*):
Actuarial loss	$	961	$	669
Amortization of prior service cost	39		(255		)
	$	1,000	$	414
Amounts reclassified from accumulated other comprehensive losses to net earnings	$	1,000	$	414

(*) Amounts are included in net periodic benefit costs for pension and postretirement plans. See Note 13 "Pension and

Postretirement Benefits" to the "Notes to Condensed Consolidated Financial Statements" for further information.

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Sale of Receivables (Tables)

3 Months Ended

Jun. 30, 2015

Disclosure of Securitized or Asset-backed Financing Arrangement Assets and Other Financial Assets Managed Together [Abstract]

Summary of the Company’s Accounts Receivable Securitization Information

The following table summarizes the Company’s accounts receivable securitization information as of the dates shown:

	June 30,				March 31,
	2015		2014		2015
Receivables outstanding in facility	$	109,400	$	70,506	$	235,162
Beneficial interest	$	23,256	$	24,883	$	40,712
Servicing liability	$	22	$	43	$	131
Cash proceeds for the three months ended June 30:
Cash purchase price	$	82,672	$	41,637	$	622,844
Deferred purchase price	44,663		38,502		229,573
Service fees	167		172		589
Total	$	127,502	$	80,311	$	853,006

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Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value, Long-term Debt

The carrying value and estimated fair value of the Company's Long-Term Debt are shown in the table below.

	June 30, 2015		June 30, 2014		March 31, 2015
Carrying value	$	926,953	$	829,752	$	741,837
Estimated fair value	855,886		864,938		653,548

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis

The following table summarizes the items measured at fair value on a recurring basis:

	June 30, 2015						June 30, 2014						March 31, 2015
					Total Assets /						Total Assets /						Total Assets /
					Liabilities						Liabilities						Liabilities
	Level 2		Level 3		at Fair Value		Level 2		Level 3		at Fair Value		Level 2		Level 3		at Fair Value
Assets
Derivative financial instruments	$	609	$	—	$	609	$	1,550	$	—	$	1,550	$	1,373	$	—	$	1,373
Securitized beneficial interests	—		23,256		23,256		—		24,883		24,883		—		40,712		40,712
Total Assets	$	609	$	23,256	$	23,865	$	1,550	$	24,883	$	26,433	$	1,373	$	40,712	$	42,085
Liabilities
Guarantees	$	—	$	7,723	$	7,723	$	—	$	7,262	$	7,262	$	—	$	8,650	$	8,650
Derivative financial instruments	—		—		—		—		—		—		—		—		—
Total liabilities	$	—	$	7,723	$	7,723	$	—	$	7,262	$	7,262	$	—	$	8,650	$	8,650

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables present the changes in Level 3 instruments measured on a recurring basis.

	Three Months Ended June 30, 2015
	Securitized Beneficial Interests			Guarantees
Beginning Balance, March 31, 2015	$	40,712		$	8,650
Issuances of guarantees/sales of receivables	33,782			4,557
Settlements	(51,167		)	(5,484		)
Losses recognized in earnings	(71		)	—
Ending Balance June 30, 2015	$	23,256		$	7,723

	Three Months Ended June 30, 2014
	Securitized Beneficial Interest			Guarantees
Beginning Balance, March 31, 2014	$	35,559		$	7,344
Issuances of guarantees/sales of receivables	21,513			4,281
Settlements	(31,725		)	(4,363		)
Losses recognized in earnings	(464		)	—
Ending Balance June 30, 2014	$	24,883		$	7,262

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The following table summarizes significant unobservable inputs and the valuation techniques thereof at June 30, 2015:

	Fair Value at June 30, 2015			Unobservable Input	Range (Weighted Average)
Securitized Beneficial Interests	$	23,256	Discounted Cash Flow	Discount Rate	2.73% to 2.79%
				Payment Speed	82 to 99 days
Tobacco Supplier Guarantees	$	2,075	Historical Loss	Historical Loss	10.80% to 15.77%
Tobacco Supplier Guarantees	$	2,923	Discounted Cash Flow	Market Interest Rate	13.00% to 21.95%
Unconsolidated Subsidiary Guarantees	$	2,725	Discounted Cash Flow	Market Interest Rate	12.00	%

XML

Related Party Transactions (Tables)

3 Months Ended

Jun. 30, 2015

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

The following is a summary of balances and transactions with related parties of the Company:

	June 30, 2015		June 30, 2014		March 31, 2015
Balances:
Accounts receivable, related parties	$	89,285	$	76,672	$	41,816
Due to related parties	22,920		8,824		58,512

	Three Months Ended June 30,
	2015		2014
Transactions:
Sales	$	7,563	$	—
Purchases	22,651		18,100

XML

Subsequent Events (Tables)

3 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Schedule of Subsequent Events

For the Quarter Ended	Kenyan Discrepancies	Legal and Professional Costs in Respect of Kenyan Discrepancies
March 31, 2013	$(1,745,717)	0
June 30, 2013	$2,198,708	0
September 30, 2013	$(1,492,481)	0
December 31, 2013	$4,681,765	0
March 31, 2014	$7,869,112	0
June 30, 2014	$1,834,281	0
September 30, 2014	$6,606,350	0
December 31, 2014	$449,593	0
March 31, 2015	$3,577,392	0
June 30, 2015	$5,263,723	0
September 30, 2015	$5,821,224	0
December 31, 2015	0	$1,771,000
March 31, 2016	0	$6,129,000
June 30, 2016	0	$4,000,000
September 30, 2016	0	$3,500,000

XML

Restatement of Previously Issued Consolidated Financial Statements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in inventory	$ 885,897	$ 993,678	$ 740,943
Increase (decrease) in accounts receivables	173,223	177,942	193,370
Increase (decrease) in retained earnings	(234,134)	(205,739)	(208,184)
Increase (decrease) in net income	(25,950)	$ (23,685)
Adjustments For Accounting Errors [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in inventory	(40,000)
Increase (decrease) in accounts receivables	(5,000)
Increase (decrease) in retained earnings	(45,000)		$ (39,000)
Increase (decrease) in net income	$ (6,000)

XML

Restatement of Previously Issued Consolidated Financial Statements - Adjustments for Error Corrections in Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales and other operating revenues	$ 266,282	$ 249,144
Cost of goods and services sold	236,884	215,873
Gross profit	29,398	33,271
Selling, general and administrative expenses	29,914	31,325
Other income (expense)	560	800
Operating income (loss)	(2,904)	2,746
Interest expense	27,773	26,922
Income (loss) before income taxes and other items	(29,303)	(22,825)
Income tax expense (benefit)	(3,214)	320
Net income (loss)	(25,957)	(23,630)
Net loss attributable to Alliance One International, Inc.	$ (25,950)	$ (23,685)
Income (loss) per share:
Basic (usd per share)	$ (2.93)	$ (2.69)
Diluted (usd per share)	$ (2.93)	$ (2.69)
Inventory Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales and other operating revenues	$ 0	$ 0
Cost of goods and services sold	8,456	3,797
Gross profit	(8,456)	(3,797)
Selling, general and administrative expenses	0	0
Other income (expense)	0	0
Operating income (loss)	(8,456)	(3,797)
Interest expense	0	0
Income (loss) before income taxes and other items	(8,456)	(3,797)
Income tax expense (benefit)	(2,174)	6,325
Net income (loss)	(6,282)	(10,122)
Net loss attributable to Alliance One International, Inc.	$ (6,282)	$ (10,122)
Income (loss) per share:
Basic (usd per share)	$ (0.71)	$ (1.15)
Diluted (usd per share)	$ (0.71)	$ (1.15)
Receivables Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales and other operating revenues	$ 2,923	$ 125
Cost of goods and services sold	0	0
Gross profit	2,923	125
Selling, general and administrative expenses	0	0
Other income (expense)	0	0
Operating income (loss)	2,923	125
Interest expense	0	0
Income (loss) before income taxes and other items	2,923	125
Income tax expense (benefit)	202	(3,167)
Net income (loss)	2,721	3,292
Net loss attributable to Alliance One International, Inc.	$ 2,721	$ 3,292
Income (loss) per share:
Basic (usd per share)	$ 0.31	$ 0.37
Diluted (usd per share)	$ 0.31	$ 0.37
Other Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales and other operating revenues	$ (455)	$ 0
Cost of goods and services sold	(1,172)	(1,839)
Gross profit	717	1,839
Selling, general and administrative expenses	(25)	0
Other income (expense)	(26)	0
Operating income (loss)	716	1,839
Interest expense	82	0
Income (loss) before income taxes and other items	634	1,839
Income tax expense (benefit)	120	76
Net income (loss)	514	1,763
Net loss attributable to Alliance One International, Inc.	$ 514	$ 1,763
Income (loss) per share:
Basic (usd per share)	$ 0.06	$ 0.20
Diluted (usd per share)	$ 0.06	$ 0.20
As Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales and other operating revenues	$ 263,812	$ 249,017
Cost of goods and services sold	229,598	213,913
Gross profit	34,214	35,104
Selling, general and administrative expenses	29,939	31,325
Other income (expense)	586	800
Operating income (loss)	1,913	4,579
Interest expense	27,691	26,922
Income (loss) before income taxes and other items	(24,404)	(20,992)
Income tax expense (benefit)	(1,362)	(2,914)
Net income (loss)	(22,910)	(18,563)
Net loss attributable to Alliance One International, Inc.	$ (22,903)	$ (18,618)
Income (loss) per share:
Basic (usd per share)	$ (2.58)	$ (2.12)
Diluted (usd per share)	$ (2.58)	$ (2.12)

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Restatement of Previously Issued Consolidated Financial Statements - Adjustments for Error Corrections in Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ (25,957)	$ (23,630)
Total comprehensive income (loss), net of tax	(22,425)	(23,008)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(22,418)	(23,063)
Inventory Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(6,282)	(10,122)
Total comprehensive income (loss), net of tax	(6,282)	(10,122)
Comprehensive income (loss) attributable to Alliance One International, Inc.	(6,282)	(10,122)
Receivables Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	2,721	3,292
Total comprehensive income (loss), net of tax	2,721	3,292
Comprehensive income (loss) attributable to Alliance One International, Inc.	2,721	3,292
Other Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	514	1,763
Total comprehensive income (loss), net of tax	739	1,763
Comprehensive income (loss) attributable to Alliance One International, Inc.	739	1,763
As Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(22,910)	(18,563)
Total comprehensive income (loss), net of tax	(19,603)	(17,941)
Comprehensive income (loss) attributable to Alliance One International, Inc.	$ (19,596)	$ (17,996)

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Restatement of Previously Issued Consolidated Financial Statements - Adjustments for Error Corrections in Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade and other receivables, net	$ 173,223	$ 193,370	$ 177,942
Inventories	885,897	740,943	993,678
Total current assets	1,427,269	1,217,095	1,500,708
Investments in unconsolidated affiliates	54,508	54,694	51,457
Deferred income taxes, net	30,899	33,155	40,878
Total assets	1,831,686	1,626,646	1,950,261
Accounts payable	78,147	73,349	89,054
Income taxes	9,470	12,694	8,521
Total current liabilities	660,490	584,424	798,334
Deferred income taxes	1,478	3,498	7,850
Liability for unrecognized tax benefits	10,522	11,011	12,511
Pension, postretirement and other long-term liabilities	89,301	91,502	79,969
Retained deficit	(234,134)	(208,184)	(205,739)
Accumulated other comprehensive loss	(62,854)	(66,386)	(37,704)	$ (38,326)
Total stockholders' equity of Alliance One International, Inc.	172,369	193,994	222,824
Total equity	175,836	197,268	226,174	248,597
Total liabilities and stockholders' equity	1,831,686	1,626,646	1,950,261
Inventory Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade and other receivables, net	0		0
Inventories	(40,121)		(20,735)
Total current assets	(40,121)		(20,735)
Investments in unconsolidated affiliates	0		0
Deferred income taxes, net	0		0
Total assets	(40,121)		(20,735)
Accounts payable	0		0
Income taxes	(2,196)		7,131
Total current liabilities	(2,196)		7,131
Deferred income taxes	0		0
Liability for unrecognized tax benefits	0		0
Pension, postretirement and other long-term liabilities	0		0
Retained deficit	(37,925)		(27,866)
Accumulated other comprehensive loss	0		0
Total stockholders' equity of Alliance One International, Inc.	(37,925)		(27,866)
Total equity	(37,925)	(31,643)	(27,866)	(17,744)
Total liabilities and stockholders' equity	(40,121)		(20,735)
Receivables Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade and other receivables, net	(4,536)		(8,918)
Inventories	0		0
Total current assets	(4,536)		(8,918)
Investments in unconsolidated affiliates	0		0
Deferred income taxes, net	0		0
Total assets	(4,536)		(8,918)
Accounts payable	0		0
Income taxes	20		(3,438)
Total current liabilities	20		(3,438)
Deferred income taxes	0		0
Liability for unrecognized tax benefits	0		0
Pension, postretirement and other long-term liabilities	0		0
Retained deficit	(4,556)		(5,480)
Accumulated other comprehensive loss	0		0
Total stockholders' equity of Alliance One International, Inc.	(4,556)		(5,480)
Total equity	(4,556)	(7,277)	(5,480)	(8,772)
Total liabilities and stockholders' equity	(4,536)		(8,918)
Other Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade and other receivables, net	0		0
Inventories	0		0
Total current assets	0		0
Investments in unconsolidated affiliates	0		530
Deferred income taxes, net	1,505		0
Total assets	1,505		530
Accounts payable	389		0
Income taxes	1,906		(4,791)
Total current liabilities	2,295		(4,791)
Deferred income taxes	(3,749)		2,098
Liability for unrecognized tax benefits	2,296		2,985
Pension, postretirement and other long-term liabilities	0		250
Retained deficit	663		213
Accumulated other comprehensive loss	0		(225)
Total stockholders' equity of Alliance One International, Inc.	663		(12)
Total equity	663	(76)	(12)	(1,775)
Total liabilities and stockholders' equity	1,505		530
As Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Trade and other receivables, net	177,759		186,860
Inventories	926,018		1,014,413
Total current assets	1,471,926		1,530,361
Investments in unconsolidated affiliates	54,508		50,927
Deferred income taxes, net	29,394		40,878
Total assets	1,874,838		1,979,384
Accounts payable	77,758		89,054
Income taxes	9,740		9,619
Total current liabilities	660,371		799,432
Deferred income taxes	5,227		5,752
Liability for unrecognized tax benefits	8,226		9,526
Pension, postretirement and other long-term liabilities	89,301		79,719
Retained deficit	(192,316)		(172,606)
Accumulated other comprehensive loss	(62,854)		(37,479)
Total stockholders' equity of Alliance One International, Inc.	214,187		256,182
Total equity	217,654	$ 236,264	259,532	$ 276,888
Total liabilities and stockholders' equity	$ 1,874,838		$ 1,979,384

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Restatement of Previously Issued Consolidated Financial Statements - Adjustments for Error Corrections in Statements of Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 197,268	$ 248,597
Net income (loss)	(25,957)	(23,630)
Ending balance	175,836	226,174
Other comprehensive income, net of tax	3,532	622
Retained Deficit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(208,184)	(182,054)
Net income (loss)	(25,950)	(23,685)
Ending balance	(234,134)	(205,739)
Pensions, Net of Tax [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(52,232)	(36,686)
Ending balance	(51,007)	(36,272)
Other comprehensive income, net of tax	1,225	414
Inventory Adjustments [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(31,643)	(17,744)
Net income (loss)	(6,282)	(10,122)
Ending balance	(37,925)	(27,866)
Other comprehensive income, net of tax	0
Inventory Adjustments [Member] | Retained Deficit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(31,643)	(17,744)
Net income (loss)	(6,282)	(10,122)
Ending balance	(37,925)	(27,866)
Inventory Adjustments [Member] | Pensions, Net of Tax [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	0
Ending balance		0
Other comprehensive income, net of tax	0
Receivables Adjustments [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(7,277)	(8,772)
Net income (loss)	2,721	3,292
Ending balance	(4,556)	(5,480)
Other comprehensive income, net of tax	0
Receivables Adjustments [Member] | Retained Deficit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(7,277)	(8,772)
Net income (loss)	2,721	3,292
Ending balance	(4,556)	(5,480)
Receivables Adjustments [Member] | Pensions, Net of Tax [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	0
Ending balance		0
Other comprehensive income, net of tax	0
Other Adjustments [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(76)	(1,775)
Net income (loss)	514	1,763
Ending balance	663	(12)
Other comprehensive income, net of tax	225
Other Adjustments [Member] | Retained Deficit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	149	(1,550)
Net income (loss)	514	1,763
Ending balance	663	213
Other Adjustments [Member] | Pensions, Net of Tax [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(225)	(225)
Ending balance		(225)
Other comprehensive income, net of tax	225
As Previously Reported [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	236,264	276,888
Net income (loss)	(22,910)	(18,563)
Ending balance	217,654	259,532
Other comprehensive income, net of tax	3,307
As Previously Reported [Member] | Retained Deficit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(169,413)	(153,988)
Net income (loss)	(22,903)	(18,618)
Ending balance	(192,316)	(172,606)
As Previously Reported [Member] | Pensions, Net of Tax [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(52,007)	(36,461)
Ending balance		$ (36,047)
Other comprehensive income, net of tax	$ 1,000

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Restatement of Previously Issued Consolidated Financial Statements - Adjustments for Error Corrections in Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Mar. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ (25,957)	$ (23,630)
Changes in operating assets and liabilities, net	(222,717)	(334,560)
Net cash used by operating acitivities	(234,053)	(348,207)
Increase (decrease) in cash and cash equivalents	20,093	(108,579)
Cash and cash equivalents	163,942	126,199	$ 143,849	$ 234,778
Inventory Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(6,282)	(10,122)
Changes in operating assets and liabilities, net	6,282	10,122
Net cash used by operating acitivities		0
Increase (decrease) in cash and cash equivalents		0
Cash and cash equivalents				0
Receivables Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	2,721	3,292
Changes in operating assets and liabilities, net	(2,721)	(3,292)
Net cash used by operating acitivities		0
Increase (decrease) in cash and cash equivalents		0
Cash and cash equivalents				0
Other Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	514	1,763
Changes in operating assets and liabilities, net	(514)	(1,799)
Net cash used by operating acitivities		(36)
Increase (decrease) in cash and cash equivalents		(36)
Cash and cash equivalents				36
As Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(22,910)	(18,563)
Changes in operating assets and liabilities, net	$ (225,764)	(339,591)
Net cash used by operating acitivities		(348,171)
Increase (decrease) in cash and cash equivalents		$ (108,543)
Cash and cash equivalents				$ 234,742

XML

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Accounting Policies [Abstract]
Value added tax expense	$ 5,675	$ 6,241

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Income Taxes Accounting for Uncertainty in Income Taxes (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015 USD ($)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits	$ 17,522
Unrecognized tax benefits, interest on income taxes accrued	1,174
Unrecognized tax benefits, income tax penalties accrued	$ 905
Non-U.S [Member] | Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax examination, open tax years	3 years
Non-U.S [Member] | Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax examination, open tax years	6 years
State and Local Jurisdiction [Member] | Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax examination, open tax years	3 years
State and Local Jurisdiction [Member] | Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax examination, open tax years	6 years

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Income Taxes Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate	11.00%	(1.40%)
Permanent items	$ 1,762	$ 1,335
Effective income tax rate reconciliation, adjustment	5.00%	(7.30%)

XML

Guarantees (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Guarantor Obligations [Line Items]
Amounts guaranteed (not to exceed)	$ 276,566	$ 300,557	$ 283,228
Amounts outstanding under guarantee	165,222	185,486	186,522
Fair value of guarantees	$ 7,723	8,650	7,262
Number of years, before expiring guarantees	1 year
Financial Guarantee [Member]
Guarantor Obligations [Line Items]
Amounts outstanding under guarantee	$ 11,212	$ 16,412	$ 15,863

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Restructuring and Asset Impairment Charges Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	$ 2,573	$ 0
Global Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs	375
Asset impairment charges	$ 2,573

XML

Restructuring and Asset Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Restructuring Reserve [Roll Forward]
Beginning balance	$ 8,087	$ 397
Severance charges	375	0
Total period charges	375	0
Payments through June 30	(1,246)	(296)
Ending balance	7,216	101
Asset impairment and other non-cash charges	2,573	0
Total restructuring and asset impairment charges for the period	$ 2,948	$ 0

XML

Restructuring and Asset Impairment Charges Employee Separation and Other Cash Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Restructuring Reserve [Roll Forward]
Beginning balance	$ 8,087	$ 397
Period charges	375	0
Payments through June 30	(1,246)	(296)
Ending balance	7,216	101
South America [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	0	0
Period charges	0	0
Payments through June 30	0	0
Ending balance	0	0
Other regions [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	8,087	397
Period charges	375	0
Payments through June 30	(1,246)	(296)
Ending balance	$ 7,216	$ 101

XML

Goodwill and Other Intangibles Goodwill and Intangible Asset Rollforward (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2015		Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014
Goodwill and Intangible Assets [Line Items]
Goodwill	[1]	$ 2,794		$ 2,794	$ 2,794	$ 2,794
Gross balance						69,191
Amortizable Intangibles, Accumulated amortization						(34,466)
Finite-lived Intangible Assets [Roll Forward]
Net balance		31,891			34,725
Additions				429	269
Amortizable Intangibles, Amortization expense		(897)		(2,773)	(759)
Amortizable Intangibles, Net		28,200
Net balance		30,994		31,891	34,235
North America [Member]
Goodwill and Intangible Assets [Line Items]
Goodwill		$ 2,794
Customer Relationships Intangible [Member]
Goodwill and Intangible Assets [Line Items]
Weighted average remaining useful life in years		9 years 9 months
Amortizable Intangibles, Gross carrying amount						33,700
Amortizable Intangibles, Accumulated amortization						(14,954)
Finite-lived Intangible Assets [Roll Forward]
Amortizable Intangibles, Net		$ 17,061			18,746
Additions				0	0
Amortizable Intangibles, Amortization expense		(421)		(1,264)	(421)
Amortizable Intangibles, Net		$ 16,640		17,061	18,325
Production and Supply Contract Intangibles [Member]
Goodwill and Intangible Assets [Line Items]
Weighted average remaining useful life in years		5 years 6 months
Amortizable Intangibles, Gross carrying amount						14,893
Amortizable Intangibles, Accumulated amortization						(4,752)
Finite-lived Intangible Assets [Roll Forward]
Amortizable Intangibles, Net		$ 9,107			10,141
Additions				0	0
Amortizable Intangibles, Amortization expense		(270)		(888)	(146)
Amortizable Intangibles, Net		$ 8,837		9,107	9,995
Internally Developed Software Intangible [Member]
Goodwill and Intangible Assets [Line Items]
Weighted average remaining useful life in years		0 years
Amortizable Intangibles, Gross carrying amount						17,804
Amortizable Intangibles, Accumulated amortization						$ (14,760)
Finite-lived Intangible Assets [Roll Forward]
Amortizable Intangibles, Net		$ 2,929			3,044
Additions				429	269
Amortizable Intangibles, Amortization expense		(206)		(621)	(192)
Amortizable Intangibles, Net		$ 2,723	[2]	$ 2,929	$ 3,121

[1] Goodwill of $2,794 relates to the North America segment.

[2] Estimated amortization expense for the internally developed software is based on costs accumulated as of June 30, 2015. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

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Goodwill and Other Intangibles Estimated Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands		Jun. 30, 2015		Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]
July 1, 2015 through March 31, 2016		$ 4,524
2017		3,830
2018		3,600
2019		3,341
2020		3,222
Later		9,683
Amortizable Intangibles, Net		28,200
Customer Relationships Intangible [Member]
Finite-Lived Intangible Assets [Line Items]
July 1, 2015 through March 31, 2016		1,264
2017		1,685
2018		1,685
2019		1,685
2020		1,685
Later		8,636
Amortizable Intangibles, Net		16,640		$ 17,061	$ 18,325	$ 18,746
Production and Supply Contract Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
July 1, 2015 through March 31, 2016		2,189
2017		1,405
2018		1,403
2019		1,397
2020		1,396
Later		1,047
Amortizable Intangibles, Net		8,837		9,107	9,995	10,141
Internally Developed Software Intangible [Member]
Finite-Lived Intangible Assets [Line Items]
July 1, 2015 through March 31, 2016	[1]	1,071
2017	[1]	740
2018	[1]	512
2019	[1]	259
2020	[1]	141
Later	[1]	0
Amortizable Intangibles, Net		$ 2,723	[1]	$ 2,929	$ 3,121	$ 3,044

[1] Estimated amortization expense for the internally developed software is based on costs accumulated as of June 30, 2015. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

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Variable Interest Entities Nonconsolidated VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Variable Interest Entity [Line Items]
Investment in joint ventures	$ 54,508	$ 54,694	$ 51,457
Advances to joint ventures	89,285	41,816	76,672
Corporate Joint Venture [Member]
Variable Interest Entity [Line Items]
Investment in joint ventures	53,491	53,678	50,441
Advances to joint ventures	3,796	3,293	8,222
Joint venture, maximum loss exposure	$ 111,622	$ 105,983	$ 137,333

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Segment Information Analysis of Segment Information (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015 USD ($) country	Jun. 30, 2014 USD ($)	Mar. 31, 2015 USD ($)
Segment Reporting Information [Line Items]
Number of countries, tobacco is purchased in (more than 35) | country	35
Number of countries, tobacco is shipped to | country	90
Sales and other operating revenues	$ 266,282	$ 249,144
Operating income (loss)	(2,904)	2,746
Interest expense	27,773	26,922
Interest income	1,374	1,351
Loss before income taxes and other items	(29,303)	(22,825)
Segment assets	1,831,686	1,950,261	$ 1,626,646
North America [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	30,300	35,389
Operating income (loss)	871	2,034
Segment assets	328,461	259,968	231,131
All Other Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	235,982	213,755
Operating income (loss)	(3,775)	712
Segment assets	$ 1,503,225	$ 1,690,293	$ 1,395,515

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Earnings Per Share (Details) $ / shares in Units, shares in Thousands, $ in Thousands			3 Months Ended
		Jun. 26, 2015 shares	Jun. 30, 2015 USD ($) $ / shares shares	Jun. 30, 2014 USD ($) $ / shares shares	Jun. 25, 2015 shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock outstanding		8,860			88,600
Stock split ratio		0.1
Common shares, owned by subsidiary			785	785
Net loss attributable to Alliance One International, Inc. | $			$ (25,950)	$ (23,685)
Weighted average number of shares outstanding (in shares)			8,862	8,799
BASIC LOSS PER SHARE (usd per share) | $ / shares			$ 2.93	$ 2.69
Plus interest expense on 5 1/2% convertible notes, net of tax | $	[1]		$ 0	$ 0
Net loss attributable to Alliance One International, Inc. as adjusted | $			$ (25,950)	$ (23,685)
Plus: Restricted shares issued and shares applicable to stock options and restricted stock units, net of shares assumed to be purchased from proceeds at average market price	[1]		0	0
Assuming conversion of 5 1/2% convertible notes at the time of issuance	[1]		0	0
Shares applicable to stock warrants (in shares)	[2]		0	0
Adjusted weighted average number of common shares outstanding			8,862	8,799
DILUTED LOSS PER SHARE (usd per share) | $ / shares			$ (2.93)	$ (2.69)
Convertible Senior Subordinated Notes 5.5% Due 2014 [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Interest rate, stated percentage			5.50%
Debt instrument, convertible, conversion price | $ / shares			$ 50.28
Stock Options [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount			656	686
Weighted average exercise price, antidilutive shares | $ / shares			$ 60.39	$ 60.42

[1] Assumed conversion of convertible notes at the beginning of the period has an antidilutive effect on earnings per share. All outstanding restricted shares and shares applicable to stock options and restricted stock units are excluded because their inclusion would have an antidilutive effect on the loss per share.

[2] For the three months and six months ended September 30, 2014 and 2013, the warrants were not assumed exercised because the exercise price was more than the average price for the periods presented.

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Stock-Based Compensation Stock Option Awards (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 1,104	$ 750
Stock-based Awards Payable in Cash [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 291	$ 19
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Granted	6
Grant Date Fair Value	$ 23.91
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Granted		22
Grant Date Fair Value		$ 27.20
Cash-Settled Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Granted		44
Grant Date Fair Value		$ 27.20
Performance Based Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Granted		22
Grant Date Fair Value		$ 27.20
Cash-Settled Performance Based Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Granted		44
Grant Date Fair Value		$ 27.20

XML

Contingencies and Other Information (Details) € in Thousands, $ in Thousands			12 Months Ended
	Nov. 11, 2013 EUR (€)	Apr. 12, 2007 EUR (€)	Mar. 31, 2013 USD ($)	Jun. 30, 2015 USD ($)	Oct. 26, 2007 USD ($)
Loss Contingencies [Line Items]
Amount of federal taxes offset			$ 24,142
Damages sought, including interest and costs | €		€ 7,400
Fines related to litigation settlement | €	€ 48
Brazilian State of Parana [Member] | Tax Assessment [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss				$ 12,273	$ 4,246
Brazil State of Rio Grande do Sul and the State of Santa Catarina [Member] | Tax Assessment [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss				$ 5,890
IPI Credit Bonus [Member]
Loss Contingencies [Line Items]
Gain contingency, unrecorded amount			94,316
Other Income (Expense)
Loss Contingencies [Line Items]
Benefit of excise tax			$ 24,142

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Debt Arrangements Debt Arrangements (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015 USD ($)
Minimum [Member]
Line of Credit Facility [Line Items]
Ratio of EBITDA to fixed charges	2.0
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Amount outstanding	$ 185,000

XML

Derivative Financial Instruments Fair Value of Derivative Instruments (Details) - Foreign Exchange Contract [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Current derivative asset	$ 609	$ 1,373	$ 1,550
Accrued Expenses and Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Current derivative liability	$ 0	$ 0	$ 0

XML

Derivative Financial Instruments Foreign Currency Contracts (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Cost of goods and services sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ (1,392)	$ 2,072

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Pension and Postretirement Benefits Net Periodic Pension Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Pension and Other Postretirement Benefit Expense [Abstract]
Service cost	$ 502	$ 510
Interest expense	1,462	1,693
Expected return on plan assets	(1,554)	(1,677)
Amortization of prior service cost	42	48
Actuarial loss	849	557
Net periodic pension cost (benefit)	$ 1,301	$ 1,131

XML

Pension and Postretirement Benefits Postretirement Health and Life Insurance Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	$ 2,127
Additional contributions to the plans are expected during the rest of fiscal 2013	6,552
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	502	$ 510
Interest expense	1,462	1,693
Amortization of prior service cost	42	48
Actuarial loss	849	557
Net periodic pension cost (benefit)	1,301	1,131
Health and Life Insurance Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	170
Additional contributions to the plans are expected during the rest of fiscal 2013	560
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	10	11
Interest expense	111	134
Amortization of prior service cost	(3)	(303)
Actuarial loss	112	111
Net periodic pension cost (benefit)	$ 230	$ (47)

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Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Inventory Disclosure [Abstract]
Processed tobacco	$ 640,558	$ 490,674	$ 636,354
Unprocessed tobacco	201,553	206,760	312,641
Other	43,786	43,509	44,683
Inventory total	$ 885,897	$ 740,943	$ 993,678

XML

Other Comprehensive Income (Loss) Component of Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance	$ (66,386)	$ (38,326)
Other comprehensive earnings before reclassifications	2,532	208
Amounts reclassified to net earnings, net of tax	1,000	414
Other comprehensive earnings, net of tax	3,532	622
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance	(62,854)	(37,704)
Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance	(14,154)	(1,640)
Other comprehensive earnings before reclassifications	2,307	208
Amounts reclassified to net earnings, net of tax	0	0
Other comprehensive earnings, net of tax	2,307	208
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance	(11,847)	(1,432)
Pensions, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance	(52,232)	(36,686)
Other comprehensive earnings before reclassifications	225	0
Amounts reclassified to net earnings, net of tax	1,000	414
Other comprehensive earnings, net of tax	1,225	414
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance	$ (51,007)	$ (36,272)

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Other Comprehensive Income (Loss) Pretax Amounts by Component, Reclassified from Accumulated Other Comprehensive Loss to Earnings (Details) - Reclassification out of Accumulated Other Comprehensive Income [Member] - Pensions, Net of Tax [Member] - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Reclassification Out Of Accumulated Other Comprehensive Income [Line Items]
Actuarial loss	[1]	$ 961	$ 669
Amortization of prior service cost	[1]	39	(255)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	[1]	1,000	414
Amounts reclassified from accumulated other comprehensive losses to net earnings		$ 1,000	$ 414

[1] Amounts are included in net periodic benefit costs for pension and postretirement plans. See Note 13 "Pension and Postretirement Benefits" to the "Notes to Condensed Consolidated Financial Statements" for further information.

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Sale of Receivables (Details)	3 Months Ended		12 Months Ended
	Jun. 30, 2015 USD ($) program	Jun. 30, 2014 USD ($)	Mar. 31, 2015 USD ($)	Jun. 29, 2015 USD ($)
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets [Line Items]
Number of accounts receivable securitization programs | program	3
Receivables sold, face value discounted, percentage	100.00%
Reductions of trade and other receivables due to settlements	$ 22,090,000	$ 13,721,000	$ 20,396,000
Receivables outstanding in facility	109,400,000	70,506,000	235,162,000
Beneficial interest	23,256,000	24,883,000	40,712,000
Servicing liability	22,000	43,000	131,000
Cash purchase price	82,672,000	41,637,000	622,844,000
Deferred purchase price	44,663,000	38,502,000	229,573,000
Service fees	167,000	172,000	589,000
Total	127,502,000	$ 80,311,000	$ 853,006,000
Accounts Receivable Securitization, Program One
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets [Line Items]
Trade receivables sold, maximum amount	$ 150,000			$ 250,000
Service fee percentage	0.50%
Accounts Receivable Securitization, Program Two
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets [Line Items]
Trade receivables sold, maximum amount	$ 35,000,000
Asset Backed Securities Programs Number Three [Member]
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets [Line Items]
Trade receivables sold, maximum amount	$ 100,000,000

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Fair Value Measurements Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Carrying value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 926,953	$ 741,837	$ 829,752
Estimate of Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 855,886	$ 653,548	$ 864,938

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Fair Value Measurements Textuals (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Securitized Beneficial Interests [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in other income	$ 733	$ 509	$ 2,034
Securitized Beneficial Interests [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 10 percent adverse change in other assumption	72
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 20 percent adverse change in other assumption	144
Guarantees [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 10 percent adverse change in other assumption	690
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 20 percent adverse change in other assumption	1,366
Guarantees of Unconsolidated Subsidiary [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 10 percent adverse change in other assumption	525
Sensitivity analysis of fair value, transferor's interests in transferred financial assets, impact of 20 percent adverse change in other assumption	$ 1,039

XML

Fair Value Measurements Input Hierarchy of Items Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments	$ 609	$ 1,373	$ 1,550
Securitized beneficial interests	0	0	0
Total Assets	609	1,373	1,550
Guarantees	0	0	0
Derivative financial instruments	0	0	0
Total liabilities	0	0	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments	0	0	0
Securitized beneficial interests	23,256	40,712	24,883
Total Assets	23,256	40,712	24,883
Guarantees	7,723	8,650	7,262
Derivative financial instruments	0	0	0
Total liabilities	7,723	8,650	7,262
Total Assets / Liabilities, at Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments	609	1,373	1,550
Securitized beneficial interests	23,256	40,712	24,883
Total Assets	23,865	42,085	26,433
Guarantees	7,723	8,650	7,262
Derivative financial instruments	0	0	0
Total liabilities	$ 7,723	$ 8,650	$ 7,262

XML

Fair Value Measurements Reconciliation of Change in Recurring Level 3 Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Securitized Beneficial Interests [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending Balance	$ 23,256
Fair Value, Measurements, Recurring [Member] | Securitized Beneficial Interests [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance, March 31, 2015	40,712	$ 35,559
Issuances of guarantees/sales of receivables	33,782	21,513
Settlements	(51,167)	(31,725)
Losses recognized in earnings	(71)	(464)
Ending Balance	23,256	24,883
Fair Value, Measurements, Recurring [Member] | Guarantees [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance, March 31, 2015	8,650	7,344
Issuances of guarantees/sales of receivables	4,557	4,281
Settlements	(5,484)	(4,363)
Losses recognized in earnings	0	0
Ending Balance	$ 7,723	$ 7,262

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Fair Value Measurements Information About Fair Value Measurements Using Significant Unobservable Inputs (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015 USD ($)
Securitized Beneficial Interests [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value of unobservable inputs	$ 23,256
Unconsolidated Subsidiary Guarantees [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value of unobservable inputs	2,725
Historical Loss Valuation Technique [Member] | Tobacco Supplier Guarantees One [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value of unobservable inputs	$ 2,075
Historical Loss Valuation Technique [Member] | Minimum [Member] | Tobacco Supplier Guarantees One [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Market Interest Rate	10.80%
Historical Loss Valuation Technique [Member] | Maximum [Member] | Tobacco Supplier Guarantees One [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Market Interest Rate	15.77%
Discounted Cash Flow Valuation Technique [Member] | Tobacco Supplier Guarantees One [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair value of unobservable inputs	$ 2,923
Discounted Cash Flow Valuation Technique [Member] | Unconsolidated Subsidiary Guarantees [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Market Interest Rate	12.00%
Discounted Cash Flow Valuation Technique [Member] | Minimum [Member] | Securitized Beneficial Interests [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Securitized Market Rate	2.73%
Payment Speed	82 days
Discounted Cash Flow Valuation Technique [Member] | Minimum [Member] | Tobacco Supplier Guarantees One [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Market Interest Rate	13.00%
Discounted Cash Flow Valuation Technique [Member] | Maximum [Member] | Securitized Beneficial Interests [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Securitized Market Rate	2.79%
Payment Speed	99 days
Discounted Cash Flow Valuation Technique [Member] | Maximum [Member] | Tobacco Supplier Guarantees One [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Market Interest Rate	21.95%

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Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Related Party Transactions [Abstract]
Accounts receivable, related parties	$ 89,285	$ 76,672	$ 41,816
Due to related parties	22,920	8,824	$ 58,512
Sales	7,563	0
Purchases	$ 22,651	$ 18,100

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Investee Companies (Details) - USD ($) $ in Thousands	Mar. 26, 2014	Jun. 30, 2015	Apr. 02, 2014
Schedule of Equity Method Investments [Line Items]
Basis difference for CBT	$ 15,990	$ 12,855
Alliance One Industries India Private Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		49.00%
Siam Tobacco Export Company [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		49.00%
Adams International Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		49.00%
Oryantal Tutun Paketleme [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%
China Brasil Tobacos Exportadora SA [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		49.00%
Equity method investment, ownership percentage sold	51.00%
Purilum LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			50.00%

XML

Subsequent Events (Details)			3 Months Ended
	May. 20, 2016	Aug. 01, 2013	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Sep. 30, 2013 USD ($)	Jun. 30, 2013 USD ($)	Mar. 31, 2013 USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Available Credit Line And Cash					$ 604,500,000
Cash					189,200,000
Kenyan Subsidiary [Member] | Fourth Amendment to Amended and Restated Credit Agreement [Member]
Subsequent Event [Line Items]
Kenyan Discrepancies								$ 5,263,723	$ 3,577,392	$ 449,593	$ 6,606,350	$ 1,834,281	$ 7,869,112	$ 4,681,765	$ (1,492,481)	$ 2,198,708	$ (1,745,717)
Legal and Professional Costs in Respect of Kenyan Discrepancies								$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Scenario, Forecast [Member] | Kenyan Subsidiary [Member] | Fourth Amendment to Amended and Restated Credit Agreement [Member]
Subsequent Event [Line Items]
Kenyan Discrepancies			$ 0	$ 0	0	$ 0	$ 5,821,224
Legal and Professional Costs in Respect of Kenyan Discrepancies			$ 3,500,000	$ 4,000,000	6,129,000	$ 1,771,000	$ 0
Line of Credit [Member] | Third Amendment to Amended and Restated Credit Agreement [Member]
Subsequent Event [Line Items]
Debt Instrument, Covenant Terms, Consolidated Interest Ratio		1.90
Debt Instrument, Covenant Terms, Consolidated Leverage Ratio		5.10
Line of Credit [Member] | Applicable Ratio, Period Two [Member] | Fourth Amendment to Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Debt Instrument, Covenant Terms, Consolidated Interest Ratio	1.65
Debt Instrument, Covenant Terms, Consolidated Leverage Ratio	5.50
Revolving Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity					10,300,000
Line of Credit [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity					415,300,000
Foreign Seasonal Credit [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity					405,000,000
Letter of Credit [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity					$ 13,100,000