XML 48 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Significant Accounting Policies (Tables)
 12 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
Schedule of Other Income (Expense)
The following table summarizes the significant components of Other Income (Expense).
 
Years Ending March 31,
 
2017
2016
2015
Gain on reconsolidation of subsidiary
$
—

$
106,203

$
—

Other sales of assets and expenses
1,994

595

5,286

Sales of Brazilian intrastate trade tax credits
9,356

4,309

2,073

Losses on sale of receivables
(6,454
)
(5,680
)
(7,425
)
 
$
4,896

$
105,427

$
(66
)
Schedule of advances to tobacco suppliers
The following table reflects the classification of advances to tobacco suppliers:

 
March 31, 2017
March 31, 2016
Current
$
54,713

$
41,837

Noncurrent
5,855

2,612

 
$
60,568

$
44,449
Summary of guarantees and associated fair values
The following table summarizes amounts guaranteed and the fair value of those guarantees:

 
March 31, 2017
March 31, 2016
Amounts guaranteed (not to exceed)
$
194,656

$
210,703

Amounts outstanding under guarantees
106,465

107,615

Fair value of guarantees
7,126

7,350
Property, plant and equipment
Property, plant and equipment at March 31, 2017 and 2016, are summarized as follows:
 
2017
2016
   Land
$
27,705

$
26,995

   Buildings
207,833

211,540

   Machinery and equipment
178,182

183,000

      Total
413,720

421,535

   Less accumulated depreciation
(157,209
)
(144,010
)
          Total property, plant and equipment, net
$
256,511

$
277,525
Computation of earnings (loss) per common share
Computation of Earnings (Loss) Per Common Share
 
Years Ended March 31,
 
(in thousands, except per share data)
2017
 
2016
 
2015
 
BASIC EARNINGS (LOSS)
 
 
 
 
 
 
   Net income (loss) attributable to Alliance One International, Inc.
$
(62,928
)
 
$
65,532

 
$
(27,862
)
 
SHARES
 
 
 
 
 
 
   Weighted Average Number of Shares Outstanding
8,930

 
8,882

 
8,829

 
BASIC EARNINGS (LOSS) PER SHARE
$
(7.05
)
 
$
7.38

 
$
(3.16
)
 
 
 
 
 
 
 
 
DILUTED EARNINGS (LOSS)
 
 
 
 
 
 
   Net income (loss) attributable to Alliance One International, Inc.
$
(62,928
)
 
$
65,532

 
$
(27,862
)
 
   Plus interest expense on 5 ½% convertible notes, net of tax
—

 
—

 
—

*
   Net income (loss) attributable to Alliance One International, Inc. as
   adjusted
$
(62,928
)
 
$
65,532

 
$
(27,862
)
 
SHARES
 
 
 
 
 
 
   Weighted average number of shares outstanding
8,930

 
8,882

 
8,829

 
   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

 
—

*
             Assuming conversion of 5 ½% convertible notes
—

 
—

 
—

*
             Shares applicable to stock warrants
—

 
—

**
—

**
   Adjusted weighted average number of shares outstanding
8,930

 
8,883

 
8,829

 
DILUTED EARNINGS (LOSS) PER SHARE
$
(7.05
)
 
$
7.38

 
$
(3.16
)
 
  *
Assumed conversion of convertible notes at the beginning of the period has an antidilutive effect on earnings (loss) 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.
**
For the years ended March 31, 2016 and 2015 the warrants were not assumed exercised because the exercise price was more than the average price for the period. The warrants were fully expired on April 8, 2015.
Schedule of Accumulated Other Comprehensive Income (Loss)
The following tables set forth the changes in each component of accumulated other comprehensive income (loss), net of tax, attributable to the Company:
 
Currency Translation Adjustment
Pensions, Net of Tax
Derivatives, Net Tax
Accumulated Other Comprehensive Income (Loss)
Balances, March 31, 2014
$
(1,640
)
$
(36,686
)
$
—

$
(38,326
)
     Other comprehensive losses before reclassifications
(12,514
)
(16,257
)
—

(28,771
)
     Amounts reclassified to net income, net of tax
—

711

—

711

     Other comprehensive losses, net of tax
(12,514
)
(15,546
)
—

(28,060
)
Balances, March 31, 2015
(14,154
)
(52,232
)
—

(66,386
)
     Other comprehensive income before reclassifications
108

7,811

—

7,919

     Amounts reclassified to net loss, net of tax
—

4,619

—

4,619

     Other comprehensive income, net of tax
108

12,430

—

12,538

Balances, March 31, 2016
(14,046
)
(39,802
)
—

(53,848
)
     Other comprehensive losses before reclassifications
(8,247
)
(573
)
(1,100
)
(9,920
)
     Amounts reclassified to net loss, net of tax
—

3,721

—

3,721

     Other comprehensive losses, net of tax
(8,247
)
3,148

(1,100
)
(6,199
)
Balances, March 31, 2017
$
(22,293
)
$
(36,654
)
$
(1,100
)
$
(60,047
)
Reclassification out of Accumulated Other Comprehensive Income
The following table sets forth amounts by component, reclassified from accumulated other comprehensive income (loss) to net income (loss) for the years ended March 31, 2017, 2016 and 2015:
 
Years Ended
March 31,
 
 
2017
2016
2015
Pension and postretirement plans *:
 
 
 
     Actuarial loss
$
3,911

$
3,629

$
3,092

     Amortization of prior service cost (credit)
(670
)
840

(2,213
)
     Deferred income tax benefit
480

150

(168
)
Amounts reclassified from accumulated other comprehensive income (loss) to net income (loss)
$
3,721

$
4,619

$
711

 
 
 
 
* Amounts are included in net periodic benefit costs for pension and postretirement plans.