Universal (UVV) 10-K 27 May 16 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	May. 20, 2016	Sep. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	UNIVERSAL CORP /VA/
Entity Central Index Key	102,037
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		22,717,735
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 1,107
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Sales and other operating revenues		$ 2,120,373	$ 2,271,801	$ 2,542,115
Costs and expenses
Cost of goods sold		1,713,042	1,861,527	2,108,824
Selling, general and administrative expenses		226,685	250,186	262,013
Other income	[1]	(3,390)	(12,676)	(81,619)
Restructuring and impairment costs		2,389	4,890	6,746
Operating income		181,647	167,874	246,151
Equity in pretax earnings of unconsolidated affiliates	[2]	5,422	7,137	3,897
Interest income		1,178	576	949
Interest expense		15,669	17,120	20,307
Income before income taxes		172,578	158,467	230,690
Income taxes		54,430	38,006	75,535
Net income		118,148	120,461	155,155
Less: net income attributable to noncontrolling interests in subsidiaries		(9,132)	(5,853)	(6,146)
Net income attributable to Universal Corporation		109,016	114,608	149,009
Dividends on Universal Corporation convertible perpetual preferred stock		(14,748)	(14,824)	(14,850)
Cost in excess of carrying value on repurchase of convertible perpetual preferred stock		0	(36)	0
Earnings available to Universal Corporation common shareholders		$ 94,268	$ 99,748	$ 134,159
Earnings per share attributable to Universal Corporation common shareholders:
Basic		$ 4.16	$ 4.33	$ 5.77
Diluted		$ 3.92	$ 4.06	$ 5.25
Weighted average common shares outstanding:
Basic		22,683,290	23,035,920	23,238,978
Diluted		27,825,491	28,221,264	28,392,033
[1]	Other income in fiscal year 2016 represents a gain from remeasuring to fair value the Company's original 50% ownership in Procesadora Unitab, S.A., a tobacco processing joint venture in Guatemala, upon acquiring the 50% interest held by the Company's joint venture partner (See Note 13). Other income represents the reversal of a valuation allowance on IPI excise tax credits in Brazil in fiscal year 2015 and the gain on the favorable outcome of the IPI tax credit case in fiscal year 2014 (see Note 13).
[2]	Equity in pretax earnings of unconsolidated affiliates is included in segment operating income (Other Tobacco Operations segment), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Net income	$ 118,148	$ 120,461	$ 155,155
Other comprehensive income (loss):
Foreign currency translation, net of income taxes	3,934	(22,625)	6,480
Pension and other postretirement benefit plans, net of income taxes	1,004	(14,023)	32,022
Total other comprehensive income (loss), net of income taxes	2,432	(40,625)	40,609
Total comprehensive income	120,580	79,836	195,764
Less: comprehensive income attributable to noncontrolling interests	(8,920)	(5,890)	(5,547)
Comprehensive income attributable to Universal Corporation	111,660	73,946	190,217
Foreign currency hedge, net of income taxes [Member]
Other comprehensive income (loss):
Hedges, net of income taxes	2,509	(2,603)	1,624
Interest rate hedge, net of income taxes [Member]
Other comprehensive income (loss):
Hedges, net of income taxes	$ (5,015)	$ (1,374)	$ 483

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
ASSETS
Cash and cash equivalents	$ 319,447	$ 248,783
Accounts receivable, net	428,659	434,362
Advances to suppliers, net	101,890	114,883
Accounts receivable - unconsolidated affiliates	2,316	1,907
Inventories - at lower of cost or market:
Tobacco	637,132	636,488
Other	60,888	62,195
Prepaid income taxes	17,814	17,811
Other current assets	70,400	81,570
Total current assets	1,638,546	1,597,999
Property, plant and equipment
Land	22,987	16,790
Buildings	264,838	238,372
Machinery and equipment	591,327	576,010
Total property, plant and equipment	879,152	831,172
Less accumulated depreciation	(553,265)	(525,783)
Property, plant and equipment, net	325,887	305,389
Other assets
Goodwill and other intangibles	99,071	99,146
Investments in unconsolidated affiliates	82,441	76,512
Deferred income taxes	23,853	32,888
Other noncurrent assets	62,999	76,515
Total other assets	268,364	285,061
Total assets	2,232,797	2,188,449
Liabilities, Current [Abstract]
Notes payable and overdrafts	66,179	59,862
Accounts payable and accrued expenses	120,527	140,112
Accounts payable - unconsolidated affiliates	8,343	3,281
Customer advances and deposits	16,438	30,183
Accrued compensation	27,593	28,232
Income taxes payable	7,190	6,559
Current portion of long-term debt	0	0
Total current liabilities	246,270	268,229
Long-term debt	370,000	370,000
Pensions and other postretirement benefits	92,177	97,048
Other long-term liabilities	41,794	36,790
Deferred income taxes	29,494	19,288
Total liabilities	779,735	791,355
Shareholders' equity
Common stock, no par value, 100,000,000 shares authorized, 22,717,735 shares issued and outstanding (22,593,266 at March 31, 2015)	208,946	206,002
Retained earnings	1,066,064	1,020,155
Accumulated other comprehensive loss	(72,350)	(74,994)
Total Universal Corporation shareholders' equity	1,414,222	1,362,725
Noncontrolling interests in subsidiaries	38,840	34,369
Total shareholders' equity	1,453,062	1,397,094
Total liabilities and shareholders' equity	2,232,797	2,188,449
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Shareholders' equity
Preferred Stock	$ 211,562	$ 211,562

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2016	Mar. 31, 2015
Preferred stock, shares authorized	5,000,000
Common stock, shares authorized	100,000,000
Common stock, shares outstanding	22,717,735
Common Stock [Member]
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	22,717,735	22,593,266
Common stock, shares outstanding	22,717,735	22,593,266
Series A Junior Participating Preferred Stock [Member]
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Preferred stock, shares authorized	220,000	220,000
Preferred stock, shares issued	218,490	218,490
Preferred stock, shares outstanding	218,490	218,490

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 118,148	$ 120,461	$ 155,155
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation	36,754	35,394	37,257
Amortization	890	1,930	1,642
Provisions for losses on advances and guaranteed loans to suppliers	815	3,734	6,705
Inventory write-downs	11,899	18,612	7,654
Stock-based compensation expense	5,206	6,230	6,278
Foreign currency remeasurement loss (gain), net	22,517	28,836	14,322
Deferred income taxes	15,046	(13,662)	(2,176)
Equity in net income of unconsolidated affiliates, net of dividends	156	(1,075)	3,420
Gain on favorable outcome of excise tax case in Brazil	0	(12,676)	(81,619)
Fair value gain upon acquisition of partner's interest in joint venture	(3,390)	0	0
Restructuring and impairment costs	2,389	4,890	6,746
Other, net	12,314	(9,272)	2,251
Changes in operating assets and liabilities, net:
Accounts and notes receivable	(2,806)	49,414	(89,536)
Inventories and other assets	(7,370)	37,751	(47,492)
Income taxes	(1,503)	4,790	11,391
Accounts payable and accrued liabilities	(13,678)	(63,257)	(27,345)
Customer advances and deposits	(13,796)	14,397	(8,156)
Net cash provided (used) by operating activities	183,591	226,497	(3,503)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(47,153)	(58,385)	(45,849)
Purchase of partner's interest in joint venture, net of cash held by the business	(5,964)	0	0
Proceeds from sale of property, plant and equipment	2,982	4,522	2,746
Other, net	(796)	(141)	1,033
Net cash used by investing activities	(50,931)	(54,004)	(42,070)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance (repayment) of short-term debt, net	4,880	2,618	(43,727)
Issuance of long-term debt	0	370,000	175,000
Repayment of long-term debt	0	(356,250)	(211,250)
Dividends paid to noncontrolling interests	(4,449)	(4,183)	(1,971)
Issuance of common stock	0	187	457
Repurchase of convertible perpetual preferred stock	0	(1,497)	0
Repurchase of common stock	0	(31,227)	(14,145)
Dividends paid on convertible perpetual preferred stock	(14,748)	(14,824)	(14,850)
Dividends paid on common stock	(47,389)	(47,337)	(46,721)
Debt issuance costs and other	0	(3,621)	(875)
Net cash used by financing activities	(61,706)	(86,134)	(158,082)
Effect of exchange rate changes on cash	(290)	(1,108)	(677)
Net increase (decrease) in cash and cash equivalents	70,664	85,251	(204,332)
Cash and cash equivalents at beginning of year	248,783	163,532	367,864
Cash and cash equivalents at end of year	319,447	248,783	163,532
Supplemental information - cash paid for:
Interest	15,704	19,184	25,116
Income taxes, net of refunds	$ 38,732	$ 46,044	$ 65,511

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Series B 6.75% Convertible Perpetual Preferred Stock [Member]	Common Stock - Class A [Member]	Forward Foreign Currency Exchange Contracts [Member]	Interest Rate Swap Agreements [Member]	Preferred Stock [Member]	Preferred Stock [Member]Series B 6.75% Convertible Perpetual Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]Common Stock - Class A [Member]	Retained Earnings [Member]	Retained Earnings [Member]Series B 6.75% Convertible Perpetual Preferred Stock [Member]	Retained Earnings [Member]Common Stock - Class A [Member]	AOCI Attributable to Parent [Member]	AOCI Attributable to Parent [Member]Forward Foreign Currency Exchange Contracts [Member]	AOCI Attributable to Parent [Member]Interest Rate Swap Agreements [Member]	Noncontrolling Interest [Member]
Balance at beginning of year at Mar. 31, 2013	$ 1,287,657					$ 213,023		$ 202,579		$ 918,509			$ (75,540)			$ 29,086
Balance at beginning of year, shares at Mar. 31, 2013		219,999
Balance at beginning of year, shares at Mar. 31, 2013			23,343,973
Changes in preferred and common stock
Issuance of common stock	457							457
Repurchase of stock			$ (2,049)						$ (2,049)
Issuance of stock, shares		0	110,825
Repurchase of stock, shares		0	(238,486)
Accrual of stock-based compensation	6,278							6,278
Withholding of shares from stock-based compensation for grantee income taxes	(1,410)							(1,410)
Dividend equivalents on RSUs	591							591
Changes in retained earnings
Net income	155,155									149,009						6,146
Cash dividends declared
Series B 6.75% convertible perpetual preferred stock ($67.50 per share)	(14,850)									(14,850)
Common stock	(46,888)									(46,888)
Repurchase of stock, retained earnings	0		$ (12,096)									$ (12,096)
Dividend equivalents on RSUs	(591)									(591)
Other comprehensive income (loss)
Foreign currency translation, net of income taxes	6,480												7,079			(599)
Hedges, net of income taxes				$ 1,624	$ 483									$ 1,624	$ 483
Pension and other postretirement benefit plans, net of income taxes	32,022												32,022
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders	(1,971)															(1,971)
Balance at end of year at Mar. 31, 2014	1,410,892					213,023		206,446		993,093			(34,332)			32,662
Balance at end of year, shares at Mar. 31, 2014		219,999
Balance at end of year, shares at Mar. 31, 2014			23,216,312
Changes in preferred and common stock
Issuance of common stock	187							187
Repurchase of stock	(1,461)		$ (6,439)				$ (1,461)		$ (6,439)
Issuance of stock, shares		0	96,947
Repurchase of stock, shares		(1,509)	(719,993)
Accrual of stock-based compensation	6,230							6,230
Withholding of shares from stock-based compensation for grantee income taxes	(1,076)							(1,076)
Dividend equivalents on RSUs	654							654
Changes in retained earnings
Net income	120,461									114,608						5,853
Cash dividends declared
Series B 6.75% convertible perpetual preferred stock ($67.50 per share)	(14,824)									(14,824)
Common stock	(47,244)									(47,244)
Repurchase of stock, retained earnings	36	$ (36)	$ (24,788)								$ (36)	$ (24,788)
Dividend equivalents on RSUs	(654)									(654)
Other comprehensive income (loss)
Foreign currency translation, net of income taxes	(22,625)												(22,662)			37
Hedges, net of income taxes				(2,603)	(1,374)									(2,603)	(1,374)
Pension and other postretirement benefit plans, net of income taxes	(14,023)												(14,023)
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders	(4,183)															(4,183)
Balance at end of year at Mar. 31, 2015	1,397,094					211,562		206,002		1,020,155			(74,994)			34,369
Balance at end of year, shares at Mar. 31, 2015		218,490
Balance at end of year, shares at Mar. 31, 2015			22,593,266
Changes in preferred and common stock
Issuance of stock, shares		0	124,469
Repurchase of stock, shares		0	0
Accrual of stock-based compensation	5,206							5,206
Withholding of shares from stock-based compensation for grantee income taxes	(2,940)							(2,940)
Dividend equivalents on RSUs	678							678
Changes in retained earnings
Net income	118,148									109,016						9,132
Cash dividends declared
Series B 6.75% convertible perpetual preferred stock ($67.50 per share)	(14,748)									(14,748)
Common stock	(47,681)									(47,681)
Repurchase of stock, retained earnings	0
Dividend equivalents on RSUs	(678)									(678)
Other comprehensive income (loss)
Foreign currency translation, net of income taxes	3,934												4,146			(212)
Hedges, net of income taxes				$ 2,509	$ (5,015)									$ 2,509	$ (5,015)
Pension and other postretirement benefit plans, net of income taxes	1,004												1,004
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders	(4,449)															(4,449)
Balance at end of year at Mar. 31, 2016	$ 1,453,062					$ 211,562		$ 208,946		$ 1,066,064			$ (72,350)			$ 38,840
Balance at end of year, shares at Mar. 31, 2016		218,490
Balance at end of year, shares at Mar. 31, 2016	22,717,735		22,717,735

Consolidated Statements of Cha8

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Statement of Stockholders' Equity [Abstract]
Series B 6.75% convertible perpetual preferred stock, cash dividends declared per share	$ 16.87	$ 16.88	$ 16.87	$ 16.88	$ 16.87	$ 16.88	$ 16.87	$ 16.88	$ 67.50	$ 67.50	$ 67.50
Common stock, cash dividends declared per share	$ 0.53	$ 0.53	$ 0.52	$ 0.52	$ 0.52	$ 0.52	$ 0.51	$ 0.51	$ 2.10	$ 2.06	$ 2.02

Nature Of Operations And Signif

Nature Of Operations And Significant Accounting Policies	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Nature Of Operations And Significant Accounting Policies	NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Universal Corporation, which together with its subsidiaries is referred to herein as “Universal” or the “Company,” is the leading global leaf tobacco supplier. The Company conducts business in over 30 countries, primarily in major tobacco-producing regions of the world. Consolidation The consolidated financial statements include the accounts of Universal Corporation and all domestic and foreign subsidiaries in which the Company maintains a controlling financial interest. Control is generally determined based on a voting interest of greater than 50%, such that Universal controls all significant corporate activities of the subsidiary. All significant intercompany accounts and transactions are eliminated in consolidation. The equity method of accounting is used for investments in companies where Universal Corporation has a voting interest of 20% to 50%. These investments are accounted for under the equity method because Universal exercises significant influence over those companies, but not control. The Company received dividends totaling $3.4 million in fiscal year 2016 , $5.2 million in fiscal year 2015 , and $6.5 million in fiscal year 2014 , from companies accounted for under the equity method. Investments where Universal has a voting interest of less than 20% are not significant and are accounted for under the cost method. Under the cost method, the Company recognizes earnings upon its receipt of dividends to the extent they represent a distribution of retained earnings. The Company's 49% ownership interest in Socotab L.L.C. (“Socotab”), a leading supplier of oriental tobaccos with operations located principally in Eastern Europe and Turkey, is the primary investment accounted for under the equity method. The investment in Socotab is an important part of the Company's overall product and service arrangements with its major customers. As discussed further below, the Company reviews the carrying value of its investments in unconsolidated affiliates on a regular basis and considers whether any factors exist that might indicate an impairment in value that is other than temporary. At March 31, 2016 , the Company determined that no such factors existed with respect to the investment in Socotab. The Company, together with Socotab management, regularly evaluates the outlook for the business, and an impairment charge could be recorded in a future period if it is determined that the fair value of the investment is less than the carrying value and the decline in value is not temporary. In fiscal year 2006, the Company deconsolidated its operations in Zimbabwe under accounting requirements that apply under certain conditions to foreign subsidiaries that are subject to foreign exchange controls and other government restrictions. Since that time, the investment has been accounted for using the cost method, as required under the accounting guidance. The investment in the Zimbabwe operations was zero at March 31, 2016 and 2015 . The Company has a net foreign currency translation loss associated with the Zimbabwe operations of approximately $7.2 million , which remains a component of accumulated other comprehensive loss. As a regular part of its reporting, the Company reviews the conditions that resulted in the deconsolidation of the Zimbabwe operations to confirm that such accounting treatment is still appropriate. Dividends from the Zimbabwe operations are recorded in income in the period received. The Company holds less than a 100% financial interest in certain consolidated subsidiaries. The net income and shareholders’ equity attributable to the noncontrolling interests in these subsidiaries are reported on the face of the consolidated financial statements. During fiscal years 2016 , 2015 , and 2014 , there were no changes in the Company’s ownership percentage in any of these subsidiaries. Investments in Unconsolidated Affiliates The Company’s equity method investments and its cost method investments, which include its Zimbabwe operations, are non-marketable securities. Universal reviews such investments for impairment whenever events or changes in circumstances indicate that the carrying amount of an investment may not be recovered. For example, the Company would review such an investment for impairment if the investee were to lose a significant customer, suffer a large reduction in sales margins, experience a major change in its business environment, or undergo any other significant change in its normal business. In assessing the recoverability of equity or cost method investments, the Company follows the applicable accounting guidance in determining the fair value of the investments. In most cases, this involves the use of discounted cash flow models (Level 3 of the fair value hierarchy under the accounting guidance). If the fair value of an equity or cost method investee is determined to be lower than its carrying value, an impairment loss is recognized. The determination of fair value using discounted cash flow models is normally not based on observable market data from independent sources and therefore requires significant management judgment with respect to estimates of future operating earnings and the selection of an appropriate discount rate. The use of different assumptions could increase or decrease estimated future operating cash flows, and the discounted value of those cash flows, and therefore could increase or decrease any impairment charge related to these investments. In its consolidated statements of income, the Company reports its proportional share of earnings of unconsolidated affiliates accounted for on the equity method based on the pretax earnings of those affiliates, as permitted under the applicable accounting guidance. All applicable foreign and U.S. income taxes are provided on these earnings and reported as a component of consolidated income tax expense. For unconsolidated affiliates located in foreign jurisdictions, repatriation of the Company’s share of the earnings through dividends is assumed in determining consolidated income tax expense. The following table provides a reconciliation of (1) equity in the pretax earnings of unconsolidated affiliates, as reported in the consolidated statements of income to (2) equity in the net income of unconsolidated affiliates, net of dividends, as reported in the consolidated statements of cash flows for the fiscal years ended March 31, 2016 , 2015 , and 2014 : Fiscal Year Ended March 31, 2016 2015 2014 Equity in pretax earnings reported in the consolidated statements of income $ 5,422 $ 7,137 $ 3,897 Less: Equity in income taxes (2,156 ) (834 ) (809 ) Equity in net income 3,266 6,303 3,088 Less: Dividends received on investments (1) (3,422 ) (5,228 ) (6,508 ) Equity in net income, net of dividends, reported in the consolidated statements of cash flows $ (156 ) $ 1,075 $ (3,420 ) (1) In accordance with the applicable accounting guidance, dividends received from unconsolidated affiliates accounted for on the equity method that represent a return on capital (i.e., a return of earnings on a cumulative basis) are presented as operating cash flows in the consolidated statements of cash flows. Earnings Per Share The Company calculates basic earnings per share based on earnings available to common shareholders after payment of dividends on the Company’s Series B 6.75% Convertible Perpetual Preferred Stock. The calculation uses the weighted average number of common shares outstanding during each period. Diluted earnings per share is computed in a similar manner using the weighted average number of common shares and dilutive potential common shares outstanding. Dilutive potential common shares are outstanding dilutive stock options and stock appreciation rights that are assumed to be exercised, unvested restricted stock units and performance share awards that are assumed to be fully vested and paid out in shares of common stock, and shares of convertible perpetual preferred stock that are assumed to be converted when the effect is dilutive. In periods when the effect of the convertible perpetual preferred stock is dilutive and these shares are assumed to be converted into common stock, dividends paid on the preferred stock are excluded from the calculation of diluted earnings per share. Calculations of earnings per share for the fiscal years ended March 31, 2016 , 2015 , and 2014 , are provided in Note 3. Cash and Cash Equivalents All highly liquid investments with a maturity of three months or less at the time of purchase are classified as cash equivalents. Advances to Suppliers In many sourcing origins where the Company operates, it provides agronomy services and seasonal advances of seed, fertilizer, and other supplies to tobacco farmers for crop production, or makes seasonal cash advances to farmers for the procurement of those inputs. These advances are short term, are repaid upon delivery of tobacco to the Company, and are reported in advances to suppliers in the consolidated balance sheets. In several origins, the Company has made long-term advances to tobacco farmers to finance curing barns and other farm infrastructure. In some years, due to low crop yields and other factors, individual farmers may not deliver sufficient volumes of tobacco to fully repay their seasonal advances, and the Company may extend repayment of those advances into future crop years. The long-term portion of advances is included in other noncurrent assets in the consolidated balance sheets. Both the current and the long-term portions of advances to suppliers are reported net of allowances recorded when the Company determines that amounts outstanding are not likely to be collected. Short-term and long-term advances to suppliers totaled approximately $134 million at March 31, 2016 , and $156 million at March 31, 2015 . The related valuation allowances totaled $29 million at March 31, 2016 , and $35 million at March 31, 2015 , and were estimated based on the Company’s historical loss information and crop projections. The allowances were increased by net provisions for estimated uncollectible amounts of approximately $0.8 million in fiscal year 2016 , $3.7 million in fiscal year 2015 , and $5.5 million in fiscal year 2014 . These provisions are included in selling, general, and administrative expenses in the consolidated statements of income. Interest on advances is recognized in earnings upon the farmers’ delivery of tobacco in payment of principal and interest. Advances on which interest accrual had been discontinued totaled approximately $11 million at March 31, 2016 , and $15 million at March 31, 2015 . Inventories Tobacco inventories are valued at the lower of cost or market. Raw materials primarily consist of unprocessed leaf tobacco, which is clearly identified by type and grade at the time of purchase. The Company tracks the costs associated with this tobacco in the final product lots, and maintains this identification through the time of sale. This method of cost accounting is referred to as the specific cost or specific identification method. The predominant cost component of the Company’s inventories is the cost of the unprocessed tobacco. Direct and indirect processing costs related to these raw materials are capitalized and allocated to inventory in a systematic manner. The Company does not capitalize any interest or sales-related costs in inventory. Freight costs are recorded in cost of goods sold. Other inventories consist primarily of seed, fertilizer, packing materials, and other supplies, and are valued principally at the lower of average cost or market. Recoverable Value-Added Tax Credits In many foreign countries, the Company’s local operating subsidiaries pay significant amounts of value-added tax (“VAT”) on purchases of unprocessed and processed tobacco, crop inputs, packing materials, and various other goods and services. In some countries, VAT is a national tax, and in other countries it is assessed at the state level. Items subject to VAT vary from jurisdiction to jurisdiction, as do the rates at which the tax is assessed. When tobacco is sold to customers in the country of origin, the operating subsidiaries generally collect VAT on those sales. The subsidiaries are normally permitted to offset their VAT payments against the collections and remit only the incremental VAT collections to the tax authorities. When tobacco is sold for export, VAT is normally not assessed. In countries where tobacco sales are predominately for export markets, VAT collections generated on downstream sales are often not sufficient to fully offset the subsidiaries’ VAT payments. In those situations, unused VAT credits can accumulate. Some jurisdictions have procedures that allow companies to apply for refunds of unused VAT credits from the tax authorities, but the refund process often takes an extended period of time, and it is not uncommon for refund applications to be challenged or rejected in part on technical grounds. Other jurisdictions may permit companies to sell or transfer unused VAT credits to third parties in private transactions, although approval for such transactions must normally be obtained from the tax authorities, limits on the amounts that can be transferred may be imposed, and the proceeds realized may be heavily discounted from the face value of the credits. Due to these factors, local operating subsidiaries in some countries can accumulate significant balances of VAT credits over time. The Company reviews these balances on a regular basis and records valuation allowances on the credits to reflect amounts that are not expected to be recovered, as well as discounts anticipated on credits that are expected to be sold or transferred. At March 31, 2016 and 2015 , the aggregate balances of recoverable tax credits held by the Company’s subsidiaries totaled approximately $52 million and $60 million , respectively, and the related valuation allowances totaled approximately $19 million and $23 million , respectively. The net balances are reported in other current assets and other noncurrent assets in the consolidated balance sheets. Property, Plant and Equipment Depreciation of plant and equipment is based upon historical cost and the estimated useful lives of the assets. Depreciation is calculated primarily using the straight-line method. Buildings include tobacco processing and blending facilities, offices, and warehouses. Machinery and equipment consists of processing and packing machinery and transport, office, and computer equipment. Estimated useful lives range as follows: buildings - 15 to 40 years; processing and packing machinery - 3 to 11 years; transport equipment - 3 to 10 years; and office and computer equipment - 3 to 10 years. Where applicable and material in amount, the Company capitalizes related interest costs during periods that property, plant and equipment are being constructed or made ready for service. No interest was capitalized in fiscal years 2016 , 2015 , or 2014 . Goodwill and Other Intangibles Goodwill and other intangibles principally consist of the excess of the purchase price of acquired companies over the fair value of the net assets. Goodwill is carried at the lower of cost or fair value. Accounting Standards Codification Topic 350 (“ASC 350”) permits companies to base their initial assessments of potential goodwill impairment on qualitative factors, and the Company elected to use that approach at March 31, 2016 and 2015 . Those factors did not indicate any potential impairment of the Company's recorded goodwill. Reporting units are distinct operating subsidiaries or groups of subsidiaries that typically compose the Company’s business in a specific country or location. Goodwill is allocated to reporting units based on the country or location to which a specific acquisition relates, or by allocation based on expected future cash flows if the acquisition relates to more than one country or location. The majority of the Company’s goodwill relates to its reporting unit in Brazil. Significant adverse changes in the operations or estimated future cash flows for a reporting unit with recorded goodwill could result in an impairment charge. No charges for goodwill impairment were recorded in fiscal years 2016 , 2015 , or 2014 . Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment whenever events, changes in business conditions, or other circumstances provide an indication that such assets may be impaired. Potential impairment is initially assessed by comparing management’s undiscounted estimates of future cash flows from the use or disposition of the assets to their carrying value. If the carrying value exceeds the undiscounted cash flows, an impairment charge is recorded to reduce the carrying value of the asset to its fair value determined in accordance with the accounting guidance. In many cases, this involves the use of discounted cash flow models that are not based on observable market data from independent sources (Level 3 of the fair value hierarchy under the accounting guidance). No significant charges for impairment of long-lived assets were recorded during fiscal years 2016 , 2015 , or 2014 . Income Taxes The Company provides deferred income taxes on temporary differences between the book and tax basis of its assets and liabilities. Those differences arise principally from employee benefit accruals, depreciation, deferred compensation, undistributed earnings of unconsolidated affiliates, undistributed earnings of foreign subsidiaries, goodwill, and valuation allowances on farmer advances and value-added tax credits. Fair Values of Financial Instruments The fair value of the Company’s long-term debt, disclosed in Note 6, approximates the carrying amount since the variable interest rates in the underlying credit agreement reflect the market interest rates that were available to the Company at March 31, 2016 . In periods when fixed-rate obligations are outstanding, fair values are estimated using market prices where they are available and discounted cash flow models based on current incremental borrowing rates for similar classes of borrowers and borrowing arrangements. The fair values of interest rate swap agreements designated as cash flow hedges and used to fix the variable benchmark rate on outstanding long-term debt are determined separately and recorded in other long-term liabilities. Except for interest rate swaps and forward foreign currency exchange contracts that are discussed below, the fair values of all other assets and liabilities that qualify as financial instruments approximate their carrying amounts. Derivative Financial Instruments The Company recognizes all derivatives on the balance sheet at fair value. Interest rate swaps and forward foreign currency exchange contracts are used from time to time to manage interest rate risk and foreign currency risk. The Company enters into such contracts only with counterparties of good standing. The credit exposure related to non-performance by the counterparties and the Company is considered in determining the fair values of the derivatives, and the effect has not been material to the financial statements or operations of the Company. Additional disclosures related to the Company’s derivatives and hedging activities are provided in Note 8. Translation and Remeasurement of Foreign Currencies The financial statements of foreign subsidiaries having the local currency as the functional currency are translated into U.S. dollars using exchange rates in effect at period end for assets and liabilities and average exchange rates applicable to each reporting period for results of operations. Adjustments resulting from translation of financial statements are reflected as a separate component of other comprehensive income or loss. The financial statements of foreign subsidiaries having the U.S. dollar as the functional currency, with certain transactions denominated in a local currency, are remeasured into U.S. dollars. The remeasurement of local currency amounts into U.S. dollars creates remeasurement gains and losses that are included in earnings as a component of selling, general, and administrative expense. The Company recognized net remeasurement losses of $22.5 million in fiscal year 2016 , $28.8 million in fiscal year 2015 , and $14.3 million in fiscal year 2014 . Foreign currency transactions and forward foreign currency exchange contracts that are not designated as hedges generate gains and losses when they are settled or when they are marked to market under the prescribed accounting guidance. These transaction gains and losses are also included in earnings as a component of selling, general, and administrative expenses. The Company recognized net foreign currency transaction gains of $8.0 million in fiscal year 2016 , net transaction gains of $17.7 million in fiscal year 2015 , and net transaction losses of $6.0 million in fiscal year 2014 . Revenue Recognition Revenue from the sale of tobacco is recognized when title and risk of loss is transferred to the customer and the earnings process is complete. Substantially all sales revenue is recorded based on the physical transfer of products to customers. A large percentage of the Company’s sales are to major multinational manufacturers of consumer tobacco products. The Company works closely with those customers to understand and plan for their requirements for volumes, styles, and grades of leaf tobacco from its various growing regions, and extensive coordination is maintained on an ongoing basis to determine and satisfy their requirements for physical shipment of processed tobacco. In most cases, customers request shipment within a relatively short period of time after the tobacco is processed and packed. The customers also specify, in sales contracts and in shipping documents, the precise terms for transfer of title and risk of loss for the tobacco. Customer returns and rejections are not significant, and the Company’s sales history indicates that customer-specific acceptance provisions are consistently met upon transfer of title and risk of loss. While most of the Company’s revenue consists of tobacco that is purchased from farmers, processed and packed in its factories, and then sold to customers, some revenue is earned from processing tobacco owned by customers. These arrangements usually exist in specific markets where the customers contract directly with farmers for leaf production, and they have accounted for less than 5% of total revenue on an annual basis through the fiscal year ended March 31, 2016 . Processing and packing of leaf tobacco is a short-duration process. Under normal operating conditions, raw tobacco that is placed into the production line exits as processed and packed tobacco within one hour, and is then transported to customer-designated storage facilities. The revenue for these services is recognized when processing is completed, and the Company’s operating history indicates that customer requirements for processed tobacco are consistently met upon completion of processing. Stock-Based Compensation Share-based payments, such as grants of stock options, stock appreciation rights, restricted stock, restricted stock units, and performance share awards, are measured at fair value and reported as expense in the financial statements over the requisite service period. Additional disclosures related to stock-based compensation are included in Note 12. Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Accounting Pronouncements Pronouncements Recently Adopted In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-17, "Balance Sheet Classification of Deferred Taxes" ("ASU 2015-17"). ASU 2015-17 eliminates the current requirement for an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified balance sheet. ASU 2015-17 requires that deferred tax liabilities, deferred tax assets, and valuation allowances be classified as noncurrent in a classified balance sheet. Early adoption of ASU 2015-17 is permitted, and the Company made the required balance sheet presentation change effective for March 31, 2016 and all prior comparative periods. Pronouncements to be Adopted in Future Periods In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which supersedes substantially all of the current revenue recognition guidance under U.S. generally accepted accounting principles (“U.S. GAAP”). ASU 2014-09 was developed under a joint project with the International Accounting Standards Board (“IASB”) to improve and converge the existing revenue recognition accounting guidance in U.S. GAAP and International Accounting Standards. Under ASU 2014-09, the central underlying principle is to recognize revenues when promised goods or services are transferred to customers at an amount determined by the consideration a company expects to receive for those goods or services. The guidance outlines a five-step process for determining the amount and timing of revenue to be recognized from those arrangements. It is more principles-based than the existing guidance under U.S. GAAP, and therefore is expected to require more management judgment and involve more estimates than the current guidance. ASU 2014-09 is effective for annual periods beginning after December 15, 2017, including all interim periods within the year of adoption. Companies are allowed to select between two transition methods: (1) a full retrospective transition method with the application of the new guidance to each prior reporting period presented, or (2) a retrospective transition method that recognizes the cumulative effect on prior periods at the date of adoption together with additional footnote disclosures. Since the issuance of ASU 2014-09, the FASB has issued several amendments to provide additional supplemental guidance on certain aspects of the original pronouncement. Universal expects to adopt ASU 2014-09 and the related supplemental amendments effective April 1, 2018, which is the beginning of the fiscal year ending March 31, 2019. The Company is currently evaluating the impact that the adoption of ASU 2014-09 and the related amendments will have on its consolidated financial statements and has not made a decision on the method of adoption. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years beginning after December 31, 2015. The Company will make the required balance sheet presentation change upon adoption of ASU 2015-03 effective for the quarter ending June 30, 2016, which is the first quarter of the fiscal year ending March 31, 2017. In July 2015, the FASB issued Accounting Standards Update No. 2015-11, “Simplifying the Measurement of Inventory” (“ASU 2015-11”). ASU 2015-11 requires that most inventory be measured at the lower of cost or net realizable value. ASU 2015-11 defines net realizable value as the "estimated selling price in the ordinary course of business, less reasonable predictable costs of completion, disposal, and transportation." ASU 2015-11 is effective for fiscal years beginning after December 31, 2016. The Company is currently evaluating the impact that the adoption of ASU 2015-11 will have on its consolidated financial statements. ASU 2015-11 will be applied prospectively after the date of adoption, as required by the guidance. In January 2016, the FASB issued Accounting Standards Update No. 2016-01 “Financial Instruments-Recognition and Measurement of Financial Assets and Financial Liabilities” ("ASU 2016-01"). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). This guidance is effective for fiscal years beginning after December 15, 2017. The Company is currently evaluating the impact that the adoption of ASU 2016-01 will have on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 requires a lessee to recognize lease payment obligations as a lease liability and the corresponding right-of-use asset as a leased asset in the balance sheet for the term of the lease. This guidance supersedes Topic 840 “Leases” and is effective for fiscal years beginning after December 15, 2018. The Company will be required to adopt ASU 2016-02 effective April 1, 2019, which is the beginning of its fiscal year ending March 31, 2020, and is currently evaluating the impact that the updated guidance will have on its consolidated financial statements. In March, 2016, the FASB issued Accounting Standards Update No. 2016-09, "Compensation - Stock Compensation (Topic 718)" ("ASU 2016-09"). ASU 2016-09 provides simplification for the accounting for employee stock-based payment transactions, including the related income tax consequences, the classification of awards as either equity or liabilities, and the classification of transactions in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017. Early adoption of ASU 2016-09 is permitted, and the Company expects to adopt the new guidance effective April 1, 2016, which is the beginning of its fiscal year ending March 31, 2017. The adoption of ASU 2016-09 is not expected to have a material impact on the Company's consolidated financial statements. Reclassifications Certain prior year amounts have been reclassified to conform to the current year’s presentation.

Restructuring Costs

Restructuring Costs	12 Months Ended
	Mar. 31, 2016
Restructuring Costs [Abstract]
Restructuring Costs	RESTRUCTURING AND IMPAIRMENT COSTS During the three fiscal years ended March 31, 2016 , Universal recorded restructuring and impairment costs related to various initiatives to adjust certain operations and reduce costs. For all three fiscal years, the restructuring and impairment costs incurred primarily related to operations that are part of the Other Regions reportable segment of the Company's flue-cured and burley leaf tobacco operations. Fiscal Year Ended March 31, 2016 In fiscal year 2016, the Company recorded restructuring and impairment costs totaling $2.4 million related to a decision to significantly scale back its operations in Zambia. Those costs included statutory employee termination benefits, impairment charges related to outstanding balances on loans to farmers whose contracts were terminated as a result of the decision, and impairment charges on certain property and equipment. Fiscal Year Ended March 31, 2015 In fiscal year 2015, the Company recorded restructuring costs totaling $4.9 million , primarily related to downsizing certain functions at its operations in Brazil and a decision to suspend its operations in Argentina effective December 31, 2014. The decision to discontinue the Argentina operations involved costs for employee termination benefits, as well as costs to exit the Company's business arrangements with a supplier. Restructuring costs were also incurred in connection with downsizing efforts at several other locations around the Company. Fiscal Year Ended March 31, 2014 In fiscal year 2014, the Company's operating subsidiary in Brazil closed a factory and centralized all tobacco processing activities in its primary facility. In connection with this initiative, the Company incurred restructuring costs of approximately $4.0 million , including employee termination benefits, costs to relocate personnel and equipment to the main facility, and lease exit costs on the building that housed the closed operations. Additional restructuring costs of approximately $2.7 million were incurred in connection with voluntary early retirement arrangements at several locations around the Company. A summary of the restructuring and impairment costs incurred during the fiscal years ended March 31, 2016 , 2015 , and 2014 , is as follows: Fiscal Years Ended March 31, 2016 2015 2014 Restructuring Costs: Employee termination benefits $ 1,629 $ 4,354 $ 3,743 Other restructuring costs 96 536 3,003 1,725 4,890 6,746 Impairment Costs: Farmer loans and property and equipment 664 — — Total restructuring and impairment costs $ 2,389 $ 4,890 $ 6,746 A reconciliation of the Company’s liability for employee termination benefits and other restructuring costs for fiscal years 2014 through 2016 is as follows: Employee Termination Benefits Other Costs Total Balance at April 1, 2013 $ 382 $ — $ 382 Fiscal Year 2014 Activity: Costs charged to expense 3,743 3,003 6,746 Payments (2,099 ) (2,843 ) (4,942 ) Balance at March 31, 2014 2,026 160 2,186 Fiscal Year 2015 Activity: Costs charged to expense 4,354 536 4,890 Payments (5,684 ) (498 ) (6,182 ) Balance at March 31, 2015 696 198 894 Fiscal Year 2016 Activity: Costs charged to expense 1,629 96 1,725 Payments (2,246 ) (92 ) (2,338 ) Balance at March 31, 2016 $ 79 $ 202 $ 281 The majority of the restructuring liability at March 31, 2016 will be paid in the early part of fiscal year 2017 . Universal continually reviews its business for opportunities to realize efficiencies, reduce costs, and realign its operations in response to business changes. The Company may incur additional restructuring costs in future periods as business changes occur and additional cost savings initiatives are implemented.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share: Fiscal Year Ended March 31, (in thousands, except share and per share data) 2016 2015 2014 Basic Earnings Per Share Numerator for basic earnings per share Net income attributable to Universal Corporation $ 109,016 $ 114,608 $ 149,009 Less: Dividends on convertible perpetual preferred stock (14,748 ) (14,824 ) (14,850 ) Less: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock — (36 ) — Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share 94,268 99,748 134,159 Denominator for basic earnings per share Weighted average shares outstanding 22,683,290 23,035,920 23,238,978 Basic earnings per share $ 4.16 $ 4.33 $ 5.77 Diluted Earnings Per Share Numerator for diluted earnings per share Earnings available to Universal Corporation common shareholders $ 94,268 $ 99,748 $ 134,159 Add: Dividends on convertible perpetual preferred stock (if conversion assumed) 14,748 14,824 14,850 Add: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock — 36 — Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share 109,016 114,608 149,009 Denominator for diluted earnings per share Weighted average shares outstanding 22,683,290 23,035,920 23,238,978 Effect of dilutive securities (if conversion or exercise assumed) Convertible perpetual preferred stock 4,853,268 4,843,309 4,821,557 Employee share-based awards 288,933 342,035 331,498 Denominator for diluted earnings per share 27,825,491 28,221,264 28,392,033 Diluted earnings per share $ 3.92 $ 4.06 $ 5.25 For the fiscal years ended March 31, 2016 , 2015 , and 2014 , the Company had the following potentially dilutive securities (stock appreciation rights) outstanding that were not included in the computation of diluted earnings per share because their effect would have been antidilutive: Fiscal Year Ended March 31, 2016 2015 2014 Potentially dilutive securities 133,600 156,200 169,000 Weighted-average exercise price $ 62.66 $ 61.83 $ 62.66

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company operates in the United States and many foreign countries and is subject to the tax laws of many jurisdictions. Changes in tax laws or the interpretation of tax laws can affect the Company’s earnings, as can the resolution of pending and contested tax issues. The Company's consolidated effective income tax rate is affected by a number of factors, including the mix of domestic and foreign earnings, the effect of exchange rate changes on deferred taxes, and the Company’s ability to utilize foreign tax credits. Income Tax Expense Income taxes for the fiscal years ended March 31, 2016 , 2015 , and 2014 consisted of the following: Fiscal Year Ended March 31, 2016 2015 2014 Current United States $ 5,371 $ 4,126 $ 1,433 State and local 1,116 657 507 Foreign 32,897 46,885 75,770 39,384 51,668 77,710 Deferred United States 5,780 3,352 1,686 State and local (445 ) 159 275 Foreign 9,711 (17,173 ) (4,136 ) 15,046 (13,662 ) (2,175 ) Total $ 54,430 $ 38,006 $ 75,535 Foreign taxes include U.S. tax expense on earnings of foreign subsidiaries. The Company has no undistributed earnings of consolidated foreign subsidiaries that are classified as permanently reinvested. Consolidated Effective Income Tax Rate A reconciliation of the statutory U.S. federal rate to the Company’s effective income tax rate is as follows: Fiscal Year Ended March 31, 2016 2015 2014 Statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 0.3 0.3 0.2 Dividends received from deconsolidated operations (1.5 ) (1.3 ) (0.9 ) Effect of exchange rate changes on deferred income taxes (1.6 ) (4.9 ) (1.0 ) Tax benefit arising from payment of a portion of a fine by a subsidiary — (5.0 ) — Other, including changes in liabilities recorded for uncertain tax positions (0.7 ) (0.1 ) (0.6 ) Effective income tax rate 31.5 % 24.0 % 32.7 % During the first quarter of fiscal year 2015, the Company recorded a consolidated income tax benefit of $8 million arising from the ability of its subsidiary, Deltafina S.p.A., to pay a significant portion of a fine and related interest charges in Italy that were settled during that quarter following the unsuccessful appeal of a case involving anti-competitive activities in the Italian tobacco market. Deltafina and Universal Corporation were jointly liable for the fine and interest charges. The Company’s initial accrual of the amounts imposed in September 2011 assumed that the entire obligation would be paid by Universal Corporation due to uncertainty with respect to Deltafina’s financial capacity to bear any significant portion of the cost upon the eventual settlement and to uncertainty as to when the payment would be made. Deltafina ultimately was able to assume responsibility for approximately $30 million of the total $53 million obligation for the fine and interest when those amounts were paid. Although the portion of the fine paid by Deltafina was not deductible for income tax purposes in Italy, it reduced the subsidiary’s cumulative undistributed earnings and the associated consolidated tax liability, resulting in the $8 million benefit in the Company's consolidated income tax provision. This discrete item reduced the effective income tax rate for fiscal year 2015 by 5.0% . Components of Income Before Income Taxes The U.S. and foreign components of income before income taxes were as follows: Fiscal Year Ended March 31, 2016 2015 2014 United States $ 37,877 $ 27,181 $ 9,156 Foreign 134,701 131,286 221,534 Total $ 172,578 $ 158,467 $ 230,690 Deferred Income Tax Liabilities and Assets Significant components of deferred tax liabilities and assets were as follows: March 31, 2016 2015 Liabilities Foreign withholding taxes $ 39,770 $ 34,339 Undistributed earnings 19,553 14,510 Goodwill 30,851 30,851 All other 10,424 8,922 Total deferred tax liabilities $ 100,598 $ 88,622 Assets Employee benefit plans $ 43,362 $ 50,977 Reserves and accruals 12,911 14,039 Deferred income 3,938 5,387 Currency translation losses of foreign subsidiaries 9,939 12,167 Local currency exchange losses of foreign subsidiaries 3,597 10,674 Foreign tax credit carryforward 4,664 — All other 16,546 9,607 Total deferred tax assets 94,957 102,851 Valuation allowance — (629 ) Net deferred tax assets $ 94,957 $ 102,222 At March 31, 2016 , the Company had no material net operating loss carryforwards in either its domestic or foreign operations. Combined Income Tax Expense (Benefit) The combined income tax expense (benefit) allocable to continuing operations, other comprehensive income, and direct adjustments to shareholders' equity was as follows: Fiscal Year Ended March 31, 2016 2015 2014 Continuing operations $ 54,430 $ 38,006 $ 75,535 Other comprehensive income 1,423 (21,900 ) 22,190 Direct adjustments to shareholders' equity (805 ) (932 ) (972 ) Total $ 55,048 $ 15,174 $ 96,753 Uncertain Tax Positions A reconciliation of the beginning and ending balance of the gross liability for uncertain tax positions for the fiscal years ended March 31, 2016 , 2015 and 2014 , is as follows: Fiscal Year Ended March 31, 2016 2015 2014 Liability for uncertain tax positions, beginning of year $ 2,894 $ 3,809 $ 5,385 Additions: Related to tax positions for the current year 98 272 194 Related to tax positions for prior years — — 168 Reductions: Due to lapses of statutes of limitations (215 ) (478 ) (1,776 ) Related to tax positions for prior years — (143 ) — Effect of currency rate movement (370 ) (566 ) (162 ) Liability for uncertain tax positions, end of year $ 2,407 $ 2,894 $ 3,809 Of the total liability for uncertain tax positions at March 31, 2016 , approximately $1.8 million could have an effect on the consolidated effective tax rate if the tax benefits are recognized. The liability for uncertain tax positions includes $0.1 million related to tax positions for which it is reasonably possible that the amounts could change significantly before March 31, 2017. This amount reflects a possible decrease in the liability for uncertain tax positions that could result from the completion and resolution of tax audits and the expiration of open tax years in various tax jurisdictions. The Company recognizes accrued interest related to uncertain tax positions as interest expense, and it recognizes penalties as a component of income tax expense. Amounts accrued or reversed for interest and penalties were not material for any of the fiscal years 2014 through 2016 , and liabilities recorded for interest and penalties at March 31, 2016 and 2015 also were not material. Universal 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 March 31, 2016 , the Company's earliest open tax year for U.S. federal income tax purposes was its fiscal year ended 2013 . Open tax years in state and foreign jurisdictions generally range from 3 to 6 years.

Credit Facilities

Credit Facilities	12 Months Ended
	Mar. 31, 2016
Line of Credit Facility [Abstract]
Credit Facilities	CREDIT FACILITIES Bank Credit Agreements In December 2014, the Company entered into a senior unsecured bank credit agreement that replaced its previous short-term and long-term borrowing facilities, consolidating and extending the maturities of those facilities. The agreement established a $430 million five -year revolving credit facility, along with a $150 million five -year term loan and a $220 million seven -year term loan. Borrowings under the revolving credit facility bear interest at a variable rate based on either (1) LIBOR plus a margin that is based on the Company's credit measures or (2) the higher of the federal funds rate plus 0.5% , prime rate, or one-month LIBOR plus 1.0% , each plus a margin. In addition to interest, the Company pays a facility fee on the revolving credit facility. No amounts were outstanding under the revolving credit facility at March 31, 2016 . The credit agreement provides for an expansion of the facility under certain conditions to allow additional borrowings of up to $100 million . Additional information related to the term loans is provided in Note 6. The credit agreement includes financial covenants that require the Company to maintain a minimum level of tangible net worth and observe limits on debt levels. The Company was in compliance with those covenants at March 31, 2016 . Short-Term Credit Facilities The Company maintains short-term uncommitted lines of credit in the United States and in a number of foreign countries. Foreign borrowings are generally in the form of overdraft facilities at rates competitive in the countries in which the Company operates. Generally, each foreign line is available only for borrowings related to operations of a specific country. As of March 31, 2016 and 2015 , approximately $66 million and $60 million , respectively, were outstanding under these uncommitted lines of credit. The weighted-average interest rates on short-term borrowings outstanding as of March 31, 2016 and 2015 , were approximately 2.2% and 2.7% , respectively. At March 31, 2016 , the Company and its consolidated affiliates had unused uncommitted lines of credit totaling approximately $306 million .

Long-Term Debt

Long-Term Debt	12 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	LONG-TERM DEBT The Company's long-term debt at March 31, 2016 and 2015 consisted of the following: March 31, 2016 2015 Senior bank term loans $ 370,000 $ 370,000 Total outstanding 370,000 370,000 Less: current portion — — Long-term debt $ 370,000 $ 370,000 As discussed in Note 5, the Company entered into a bank credit agreement in December 2014 that established a $150 million five -year term loan and a $220 million seven -year term loan. Both term loans were fully funded at closing, and the Company concurrently repaid approximately $250 million aggregate principal amount on term loans outstanding under two previous bank credit facilities and reduced its revolving credit borrowings by approximately $120 million . The term loans require no amortization and are prepayable without penalty prior to maturity. Under the credit agreement, both term loans bear interest at variable rates plus a margin based on the Company's credit measures. However, following closing on the term loans, the Company entered into receive-floating / pay-fixed interest rate swap agreements that convert the variable benchmark rate on both loans to a fixed rate over their full terms to maturity. With the swap agreements in place, the effective interest rate on the $150 million five -year loan and the $220 million seven -year loan were 2.94% and 3.48% , respectively, at March 31, 2016 and 2015 . The effective rates will change only if a change in the Company's credit measures results in adjustments to the applicable credit spreads specified in the underlying loan agreement. The $150 million five -year term loan matures in fiscal year 2020, and the $220 million seven -year term loan matures in fiscal year 2022. In November 2014, the Company filed an undenominated universal shelf registration statement with the U.S. Securities and Exchange Commission to provide for the future issuance of an undefined amount of additional debt or equity securities as determined by the Company and offered in one or more prospectus supplements prior to issuance. Disclosures about the fair value of long-term debt are provided in Note 9.

Leases

Leases	12 Months Ended
	Mar. 31, 2016
Leases [Abstract]
Leases	LEASES The Company’s subsidiaries lease various production, storage, distribution, and other facilities, as well as vehicles and equipment used in their operations. Some of the leases have options to extend the lease term at market rates. These arrangements are classified as operating leases for accounting purposes. Rent expense on operating leases totaled $ 14.7 million in fiscal year 2016 , $ 15.8 million in fiscal year 2015 , and $ 18.2 million in fiscal year 2014 . Future minimum payments under non-cancelable operating leases total $ 10.3 million in 2017 , $ 7.1 million in 2018 , $ 6.1 million in 2019 , $ 4.8 million in 2020 , $ 4.4 million in 2021 , and $ 15.0 million after 2021 .

Derivatives And Hedging Activit

Derivatives And Hedging Activities	12 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives And Hedging Activities	DERIVATIVES AND HEDGING ACTIVITIES Universal is exposed to various risks in its worldwide operations and uses derivative financial instruments to manage two specific types of risks – interest rate risk and foreign currency exchange rate risk. Interest rate risk has been managed by entering into interest rate swap agreements, and foreign currency exchange rate risk has been managed by entering into forward foreign currency exchange contracts. However, the Company’s policy also permits other types of derivative instruments. In addition, foreign currency exchange rate risk is also managed through strategies that do not involve derivative instruments, such as using local borrowings and other approaches to minimize net monetary positions in non-functional currencies. The disclosures below provide additional information about the Company’s hedging strategies, the derivative instruments used, and the effects of these activities on the consolidated statements of income and the consolidated balance sheets. In the consolidated statements of cash flows, the cash flows associated with all of these activities are reported in net cash provided by operating activities. Cash Flow Hedging Strategy for Interest Rate Risk In January 2015, the Company entered into receive-floating/pay-fixed interest rate swap agreements that were designated and qualified as hedges of the exposure to changes in interest payment cash flows created by fluctuations in variable interest rates on its two outstanding non-amortizing bank term loans (see Note 5). Although no significant ineffectiveness is expected with this hedging strategy, the effectiveness of the interest rate swaps is evaluated on a quarterly basis. At March 31, 2016 , the total notional amount of the interest rate swaps was $370 million , which corresponded with the aggregate outstanding balance of the term loans. Previously, the Company had receive-floating/pay-fixed interest rate swap agreements that were designated and qualified as cash flow hedges on an amortizing bank term loan that has since been repaid. Those swap agreements, which had an aggregate notional amount of approximately $74 million reflecting the principal balance outstanding on the loan, were terminated upon repayment of the debt in December 2014. The fair value of the swap agreements, approximately $0.6 million , was paid to the counterparties upon termination and charged to expense. Cash Flow Hedging Strategy for Foreign Currency Exchange Rate Risk Related to Forecast Purchases of Tobacco and Related Processing Costs The majority of the tobacco production in most countries outside the United States where Universal operates is sold in export markets at prices denominated in U.S. dollars. However, purchases of tobacco from farmers and most processing costs (such as labor and energy) in those countries are usually denominated in the local currency. Changes in exchange rates between the U.S. dollar and the local currencies where tobacco is grown and processed affect the ultimate U.S. dollar cost of the processed tobacco. From time to time, the Company enters into forward contracts to sell U.S. dollars and buy the local currency at future dates that coincide with the expected timing of a portion of the tobacco purchases and processing costs. This strategy offsets the variability of future U.S. dollar cash flows for tobacco purchases and processing costs for the foreign currency notional amount hedged. This hedging strategy has been used mainly for tobacco purchases and processing costs in Brazil. The aggregate U.S. dollar notional amount of forward contracts entered for these purposes during fiscal years 2016 , 2015 , and 2014 was as follows: Fiscal Year Ended March 31, (in millions) 2016 2015 2014 Tobacco purchases $ 43.1 $ 105.6 $ 126.1 Processing costs 13.2 22.9 26.8 Total $ 56.3 $ 128.5 $ 152.9 The reduced U.S. dollar notional amounts for tobacco purchases and processing costs hedged during fiscal year 2016 reflect the combined effect of the devaluation of the Brazilian currency since the prior fiscal year, the reduced size of the 2016 crop, and a variation in the timing of fixed-price orders from customers for their purchases from the respective crop years. All contracts related to tobacco purchases were designated and qualify as hedges of the future cash flows associated with the forecast purchases of tobacco. As a result, except for amounts related to any ineffective portion of the hedging strategy or any early de-designation of the hedge arrangement, changes in fair values of the forward contracts have been recognized in comprehensive income as they occurred, but only recognized in earnings upon sale of the related tobacco to third-party customers. Forward contracts related to processing costs have not been designated as hedges, and gains and losses on those contracts have been recognized in earnings on a mark-to-market basis. For substantially all hedge gains and losses recorded in accumulated other comprehensive loss at March 31, 2016 , the Company expects to complete the sale of the tobacco and recognize the amounts in earnings during fiscal year 2017 . At March 31, 2016 , all hedged forecast purchases of tobacco not yet completed remained probable of occurring within the originally designated time period and, as a result, no hedges had been discontinued. Purchases of the 2016 crop are expected to be completed by August 2016, and all forward contracts to hedge those purchases will mature and be settled by that time. Hedging Strategy for Foreign Currency Exchange Rate Risk Related to Net Local Currency Monetary Assets and Liabilities of Foreign Subsidiaries Most of the Company’s foreign subsidiaries transact the majority of their sales in U.S. dollars and finance the majority of their operating requirements with U.S. dollar borrowings, and therefore use the U.S. dollar as their functional currency. These subsidiaries normally have certain monetary assets and liabilities on their balance sheets that are denominated in the local currency. Those assets and liabilities can include cash and cash equivalents, accounts receivable and accounts payable, advances to farmers and suppliers, deferred income tax assets and liabilities, recoverable value-added taxes, and other items. Net monetary assets and liabilities denominated in the local currency are remeasured into U.S. dollars each reporting period, generating gains and losses that the Company records in earnings as a component of selling, general, and administrative expenses. The level of net monetary assets or liabilities denominated in the local currency normally fluctuates throughout the year based on the operating cycle, but it is most common for monetary assets to exceed monetary liabilities, sometimes by a significant amount. When this situation exists and the local currency weakens against the U.S. dollar, remeasurement losses are generated. Conversely, remeasurement gains are generated on a net monetary asset position when the local currency strengthens against the U.S. dollar. To manage a portion of its exposure to currency remeasurement gains and losses, the Company enters into forward contracts to buy or sell the local currency at future dates coinciding with expected changes in the overall net local currency monetary asset position of the subsidiary. Gains and losses on the forward contracts are recorded in earnings as a component of selling, general, and administrative expenses for each reporting period as they occur, and thus directly offset the related remeasurement losses or gains in the consolidated statements of income for the notional amount hedged. The Company does not designate these contracts as hedges for accounting purposes. The contracts are generally arranged to hedge the subsidiary's projected exposure to currency remeasurement risk for specified periods of time, and new contracts are entered as necessary throughout the year to replace previous contracts as they mature. During fiscal years ended March 31, 2016 , 2015 , and 2014 , the Company used forward currency contracts to manage its exposure to currency remeasurement risk in Brazil. At March 31, 2016 , the net local monetary asset position in Brazil was not significant, and there were no foreign currency contracts to manage currency remeasurement risk outstanding. The total notional amount of contracts outstanding at March 31, 2015 was approximately $80.4 million . To further mitigate currency remeasurement exposure, the Company’s foreign subsidiaries may utilize short-term local currency financing during certain periods. This strategy, while not involving the use of derivative instruments, is intended to minimize the subsidiary’s net monetary position by financing a portion of the local currency monetary assets with local currency monetary liabilities and thus hedging a portion of the overall position. Several of the Company’s foreign subsidiaries transact the majority of their sales and finance the majority of their operating requirements in their local currency, and therefore use their respective local currencies as the functional currency for reporting purposes. From time to time, these subsidiaries sell tobacco to customers in transactions that are not denominated in the functional currency. In those situations, the subsidiaries routinely enter into forward exchange contracts to offset currency risk for the period of time that a fixed-price order and the related trade account receivable are outstanding with the customer. The contracts are not designated as hedges for accounting purposes. Effect of Derivative Financial Instruments on the Consolidated Statements of Income The table below outlines the effects of the Company’s use of derivative financial instruments on the consolidated statements of income for the fiscal years ended March 31, 2016 , 2015 , and 2014 . Fiscal Year Ended March 31, 2016 2015 2014 Cash Flow Hedges - Interest Rate Swap Agreements Derivative Effective Portion of Hedge Gain (loss) recorded in accumulated other comprehensive loss $ (12,824 ) $ (4,044 ) $ (142 ) Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ (5,108 ) $ (1,929 ) $ (886 ) Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings Interest expense Ineffective Portion of Hedge Gain (loss) recognized in earnings $ — $ — $ — Location of gain (loss) recognized in earnings Selling, general and administrative expenses Hedged Item Description of hedged item Floating rate interest payments on term loans Cash Flow Hedges - Forward Foreign Currency Exchange Contracts Derivative Effective Portion of Hedge Gain (loss) recorded in accumulated other comprehensive loss $ 1,774 $ 1,410 $ (1,635 ) Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ 993 $ 3,099 $ (3,844 ) Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings Cost of goods sold Ineffective Portion and Early De-designation of Hedges Gain (loss) recognized in earnings $ 685 $ 257 $ (1,839 ) Location of gain (loss) recognized in earnings Selling, general and administrative expenses Hedged Item Description of hedged item Forecast purchases of tobacco in Brazil Derivatives Not Designated as Hedges - Forward Foreign Currency Exchange Contracts Gain (loss) recognized in earnings $ 5,973 $ 13,178 $ (6,609 ) Location of gain (loss) recognized in earnings Selling, general and administrative expenses For the interest rate swap agreements, the effective portion of the gain or loss on the derivative is recorded in accumulated other comprehensive loss and any ineffective portion is recorded in selling, general and administrative expenses. For the forward foreign currency exchange contracts designated as cash flow hedges of tobacco purchases in Brazil, a net hedge gain of approximately $0.5 million remained in accumulated other comprehensive loss at March 31, 2016 . That balance reflects net gains on contracts related to the 2016 crop. No hedge gain or loss had been reclassified to earnings at March 31, 2016 since shipments of those tobaccos had not yet started. The majority of the balance in accumulated other comprehensive loss will be recognized in earnings as a component of cost of goods sold in fiscal year 2017 as the 2016 Brazilian crop tobacco is sold to customers. Based on the hedging strategy, as the gain or loss is recognized in earnings, it is expected to be offset by a change in the direct cost for the tobacco or by a change in sales prices if the strategy has been mandated by the customer. Generally, margins on the sale of the tobacco will not be significantly affected. Effect of Derivative Financial Instruments on the Consolidated Balance Sheets The table below outlines the effects of the Company’s derivative financial instruments on the consolidated balance sheets at March 31, 2016 and 2015 : Derivatives in a Fair Value Asset Position Derivatives in a Fair Value Liability Position Balance Sheet Location Fair Value as of March 31, Balance Sheet Location Fair Value as of March 31, 2016 2015 2016 2015 Derivatives Designated as Hedging Instruments Interest rate swap agreements Other non-current assets $ — $ — Other long-term liabilities $ 10,766 $ 3,050 Forward foreign currency exchange contracts Other current assets 475 106 Accounts payable and accrued expenses — 396 Total $ 475 $ 106 $ 10,766 $ 3,446 Derivatives Not Designated as Hedging Instruments Forward foreign currency exchange contracts Other current assets $ 297 $ 5,148 Accounts payable and accrued expenses $ 5 $ 183 Total $ 297 $ 5,148 $ 5 $ 183 Substantially all of the Company's forward foreign currency exchange contracts are subject to master netting arrangements, whereby the right to offset occurs in the event of default by a participating party. The Company has elected to present these contracts on a gross basis in the consolidated balance sheets.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Universal measures certain financial and nonfinancial assets and liabilities at fair value based on applicable accounting guidance. The financial assets and liabilities measured at fair value include money market funds, trading securities associated with deferred compensation plans, interest rate swap agreements, forward foreign currency exchange contracts, and guarantees of bank loans to tobacco growers. The application of the fair value guidance to nonfinancial assets and liabilities primarily includes the determination of fair values for goodwill and long-lived assets when indicators of potential impairment are present. Under the accounting guidance, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The framework for measuring fair value is based on a fair value hierarchy that distinguishes between observable inputs and unobservable inputs. Observable inputs are based on market data obtained from independent sources. Unobservable inputs require the Company to make its own assumptions about the value placed on an asset or liability by market participants because little or no market data exists. There are three levels within the fair value hierarchy. Level Description 1 quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date; 2 quoted prices in active markets for similar assets or liabilities, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability; and 3 unobservable inputs for the asset or liability. In measuring the fair value of liabilities, the Company considers the risk of non-performance in determining fair value. Universal has not elected to report at fair value any financial instruments or any other assets or liabilities that are not required to be reported at fair value under current accounting guidance. At March 31, 2016 and 2015 , the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy: March 31, 2016 Level 1 Level 2 Level 3 Total Assets Money market funds $ — $ 116,618 $ — $ 116,618 Trading securities associated with deferred compensation plans 17,817 — — 17,817 Forward foreign currency exchange contracts — 772 — 772 Total financial assets measured and reported at fair value $ 17,817 $ 117,390 $ — $ 135,207 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ 1,628 $ 1,628 Interest rate swap agreements — 10,766 — 10,766 Forward foreign currency exchange contracts — 5 — 5 Total financial liabilities measured and reported at fair value $ — $ 10,771 $ 1,628 $ 12,399 March 31, 2015 Level 1 Level 2 Level 3 Total Assets Money market funds $ — $ 86,552 $ — $ 86,552 Trading securities associated with deferred compensation plans 20,692 — — 20,692 Forward foreign currency exchange contracts — 5,254 — 5,254 Total financial assets measured and reported at fair value $ 20,692 $ 91,806 $ — $ 112,498 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ 1,695 $ 1,695 Interest rate swap agreements — 3,050 — 3,050 Forward foreign currency exchange contracts — 579 — 579 Total financial liabilities measured and reported at fair value $ — $ 3,629 $ 1,695 $ 5,324 Money market funds The fair value of money market funds, which are reported in cash and cash equivalents in the consolidated balance sheets, is based on net asset value, which is computed based on amortized cost (Level 2). The fair values of these investments approximate cost due to the short-term maturities and the high credit quality of the issuers of the underlying securities. Trading securities associated with deferred compensation plans Trading securities represent mutual fund investments that are matched to employee deferred compensation obligations. These investments are bought and sold as employees defer compensation, receive distributions, or make changes in the funds underlying their accounts. Quoted market prices (Level 1) are used to determine the fair values of the mutual funds. Interest rate swap agreements The fair values of interest rate swap agreements are determined based on dealer quotes using a discounted cash flow model matched to the contractual terms of each instrument. Since inputs to the model are observable and significant judgment is not required in determining the fair values, interest rate swaps are classified within Level 2 of the fair value hierarchy. Forward foreign currency exchange contracts The fair values of forward foreign currency exchange contracts are also determined based on dealer quotes using a discounted cash flow model matched to the contractual terms of each instrument. Since inputs to the model are observable and significant judgment is not required in determining the fair values, forward foreign currency exchange contracts are classified within Level 2 of the fair value hierarchy. Guarantees of bank loans to tobacco growers The Company guarantees bank loans to tobacco growers in Brazil for crop financing and has previously guaranteed loans to those growers for the construction of curing barns or other tobacco producing assets. In the event that the farmers default on their payments to the banks, the Company would be required to perform under the guarantees. The Company regularly evaluates the likelihood of farmer defaults based on an expected loss analysis and records the fair value of its guarantees as an obligation in its consolidated financial statements. The fair value of the guarantees is determined using the expected loss data for all loans outstanding at each measurement date. The present value of the cash flows associated with the estimated losses is then calculated at a risk-adjusted interest rate that is aligned with the expected duration of the liability and includes an adjustment for nonperformance risk. This approach is sometimes referred to as the “contingent claims valuation method.” Although historical loss data is an observable input, significant judgment is required in applying this information to the portfolio of guaranteed loans outstanding at each measurement date and in selecting a risk-adjusted interest rate. Significant increases or decreases in the risk-adjusted interest rate may result in a significantly higher or lower fair value measurement. The guarantees of bank loans to tobacco growers are therefore classified within Level 3 of the fair value hierarchy. A reconciliation of the change in the balance of the financial liability for guarantees of bank loans to tobacco growers (Level 3) for the fiscal years ended March 31, 2016 and 2015 is provided below. Fiscal Year Ended March 31, 2016 2015 Balance at beginning of year $ 1,674 $ 2,270 Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio) (1,826 ) (2,392 ) Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans) 1,834 2,320 Change in discount rate and estimated collection period 106 130 Currency remeasurement (160 ) (654 ) Balance at end of year $ 1,628 $ 1,674 Long-term Debt The fair value of the Company’s long-term debt was approximately $370 million at March 31, 2016 and 2015 . The Company estimates the fair value of its long-term debt using Level 2 inputs which are based upon quoted market prices for the same or similar obligations or on calculations that are based on the current interest rates available to the Company for debt of similar terms and maturities.

Pension And Other Postretiremen

Pension And Other Postretirement Benefit Plans	12 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Pension And Other Postretirement Benefit Plans	PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Defined Benefit Plans Description of Plans The Company sponsors several defined benefit pension plans covering U.S. salaried employees and certain foreign and other employee groups. These plans provide retirement benefits based primarily on employee compensation and years of service. Plan assets consist primarily of equity and fixed income investments. The Company also sponsors defined benefit plans that provide postretirement health and life insurance benefits for eligible U.S. employees who have attained specific age and service levels, although postretirement life insurance benefits were discontinued for active employees during fiscal year 2015. The health benefits are funded by the Company as the costs of those benefits are incurred. The plan design includes cost-sharing features such as deductibles and coinsurance. The life insurance benefits are funded with deposits to a reserve account held by an insurance company. The Company has the right to amend or discontinue its pension and other postretirement benefit plans at any time. In the following disclosures, the term “accumulated benefit obligation” (“ABO”) represents the actuarial present value of estimated future benefit payments earned by participants in the Company's defined benefit pension plans as of the balance sheet date without regard to the estimated effect of future compensation increases on those benefits. The term does not apply to other postretirement benefits. “Projected benefit obligation” refers to the projected benefit obligation (“PBO”) for pension benefits and the accumulated postretirement benefit obligation (“APBO”) for other postretirement benefits. These amounts represent the actuarial present value of estimated future benefit payments earned by participants in the benefit plans as of the balance sheet date. For pension benefits, the projected benefit obligation includes the estimated effect of future compensation increases on those benefits. Actuarial Assumptions Assumptions used for financial reporting purposes to compute net periodic benefit cost and benefit obligations for the Company's primary defined benefit plans were as follows: Pension Benefits Other Postretirement Benefits 2016 2015 2014 2016 2015 2014 Discount rates: Benefit cost for plan year 3.80 % 4.50 % 4.20 % 3.70 % 4.30 % 3.90 % Benefit obligation at end of plan year 4.10 % 3.80 % 4.50 % 3.80 % 3.70 % 4.30 % Expected long-term return on plan assets: Benefit cost for plan year 7.25 % 7.75 % 8.00 % 3.00 % 4.30 % 4.30 % Benefit obligation at end of plan year 7.00 % 7.25 % 7.75 % 3.00 % 3.00 % 4.30 % Salary scale: Benefit cost for plan year 4.50 % 4.50 % 5.00 % 4.50 % 4.50 % 5.00 % Benefit obligation at end of plan year 4.00 % 4.50 % 4.50 % 4.00 % 4.50 % 4.50 % Healthcare cost trend rate N/A N/A N/A 7.00 % 7.20 % 7.40 % Changes in the discount rates in the above table reflect prevailing market interest rates at the end of each fiscal year when the benefit obligations are actuarially measured. The reduction in the expected long-term return on plan assets assumption from fiscal year 2014 to fiscal year 2016 is primarily due to changes in the underlying plan assets. These changes reflect a move toward a liability-driven investment strategy in the Company's ERISA-regulated U.S. defined benefit pension plan due to the high percentage of retired and inactive participants in the plan and the high funded status of the plan. The healthcare cost trend rate used by the Company is based on a study of medical cost inflation rates that is reviewed annually for continued applicability. The revised trend assumption of 7.00% in 2016 declines gradually to 4.50% in 2037 . Benefit Obligations, Plan Assets, and Funded Status The following table reflects the changes in benefit obligations and plan assets in 2016 and 2015 , as well as the funded status of the plans at March 31, 2016 and 2015 : Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 Actuarial present value of benefit obligation: Accumulated benefit obligation $ 273,479 $ 287,133 Projected benefit obligation 275,505 288,908 $ 37,225 $ 40,863 Change in projected benefit obligation: Projected benefit obligation, beginning of year $ 288,908 $ 259,928 $ 40,863 $ 41,846 Service cost 5,953 5,099 286 347 Interest cost 10,037 11,215 1,539 1,699 Effect of discount rate change (10,036 ) 30,744 (402 ) 2,669 Foreign currency exchange rate changes 330 (6,033 ) (215 ) (444 ) Curtailment — — — (1,465 ) Other (486 ) 2,879 (1,104 ) (788 ) Benefit payments (19,201 ) (14,924 ) (3,742 ) (3,001 ) Projected benefit obligation, end of year $ 275,505 $ 288,908 $ 37,225 $ 40,863 Change in plan assets: Plan assets at fair value, beginning of year $ 224,553 $ 213,282 $ 2,115 $ 2,535 Actual return on plan assets 61 23,486 69 73 Employer contributions 12,504 8,063 3,123 2,508 Foreign currency exchange rate changes (58 ) (5,354 ) — — Benefit payments (19,201 ) (14,924 ) (3,742 ) (3,001 ) Plan assets at fair value, end of year $ 217,859 $ 224,553 $ 1,565 $ 2,115 Funded status: Funded status of the plans, end of year $ (57,646 ) $ (64,355 ) $ (35,660 ) $ (38,748 ) The curtailment for other postretirement benefits in fiscal year 2015 was attributable to the discontinuation of postretirement life insurance benefits for active U.S. employees. The Company funds its non-regulated U.S. pension plan, one of its foreign pension plans, and its postretirement medical plans on a pay-as-you-go basis as the benefit payments are incurred. Those plans account for approximately 58% of the $57.6 million unfunded pension obligation and approximately 83% of the $35.7 million unfunded postretirement benefit obligation shown on the funded status line in the above table at March 31, 2016 . The funded status of the Company’s plans at the end of fiscal years 2016 and 2015 was reported in the consolidated balance sheets as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 Non-current asset (included in other noncurrent assets) $ 2,044 $ 1,900 $ — $ — Current liability (included in accounts payable and accrued expenses) (630 ) (5,458 ) (2,543 ) (2,497 ) Non-current liability (reported as pensions and other postretirement benefits) (59,060 ) (60,797 ) (33,117 ) (36,251 ) Amounts recognized in the consolidated balance sheets $ (57,646 ) $ (64,355 ) $ (35,660 ) $ (38,748 ) Additional information on the funded status of the Company’s plans as of the respective measurement dates for the fiscal years ended March 31, 2016 and 2015 , is as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 For plans with a projected benefit obligation in excess of plan assets: Aggregate projected benefit obligation (PBO) $ 270,058 $ 283,070 $ 37,225 $ 40,863 Aggregate fair value of plan assets 210,368 216,815 1,565 2,115 For plans with an accumulated benefit obligation in excess of plan assets: Aggregate accumulated benefit obligation (ABO) 268,087 281,354 N/A N/A Aggregate fair value of plan assets 210,368 216,815 N/A N/A Net Periodic Benefit Cost The components of the Company’s net periodic benefit cost were as follows: Pension Benefits Other Postretirement Benefits Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2016 2015 2014 2016 2015 2014 Components of net periodic benefit cost: Service cost $ 5,953 $ 5,099 $ 5,190 $ 286 $ 347 $ 527 Interest cost 10,037 11,215 12,223 1,539 1,699 2,106 Expected return on plan assets (15,110 ) (15,493 ) (14,218 ) (58 ) (102 ) (119 ) Curtailment gain — — — — (1,465 ) — Settlement cost — — 1,094 — — — Net amortization and deferral 4,394 6,169 6,779 (431 ) (671 ) (5 ) Net periodic benefit cost $ 5,274 $ 6,990 $ 11,068 $ 1,336 $ (192 ) $ 2,509 A one-percentage-point increase in the assumed healthcare cost trend rate would increase the March 31, 2016 accumulated postretirement benefit obligation by approximately $1.0 million , while a one-percentage-point decrease would reduce the benefit obligation by approximately $900 thousand . The aggregate service and interest cost components of the net periodic postretirement benefit expense for fiscal year 2017 would not change by a significant amount as a result of a one-percentage-point increase or decrease in the assumed healthcare cost trend rate. Amounts Included in Accumulated Other Comprehensive Loss Amounts included in accumulated other comprehensive loss at the beginning of the year are amortized as a component of net periodic benefit cost during the year. The amounts recognized in other comprehensive income or loss for fiscal years 2016 and 2015 and the amounts included in accumulated other comprehensive loss at the end of those fiscal years are shown below. All amounts shown are before allocated income taxes. Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 Change in net actuarial loss (gain): Net actuarial loss (gain), beginning of year $ 81,544 $ 70,488 $ (6,402 ) $ (9,952 ) Losses (gains) arising during the year 4,787 23,353 (1,263 ) 2,879 Amortization included in net periodic benefit cost during the year (7,032 ) (12,297 ) 431 671 Net actuarial loss (gain), end of year 79,299 81,544 (7,234 ) (6,402 ) Change in prior service cost (benefit): Prior service cost (benefit), beginning of year (17,630 ) (22,998 ) — — Prior service cost (benefit) arising during the year 111 (675 ) (108 ) — Amortization included in net periodic benefit cost during the year 2,458 6,043 — — Prior service cost (benefit), end of year (15,061 ) (17,630 ) (108 ) — Total amounts in accumulated other comprehensive loss at end of year, before income taxes $ 64,238 $ 63,914 $ (7,342 ) $ (6,402 ) Amounts in the above table reflect the Company and its consolidated subsidiaries. The accumulated other comprehensive loss reported in the consolidated balance sheets also includes pension and other postretirement benefit adjustments related to ownership interests in unconsolidated affiliates. The Company expects to recognize approximately $6.1 million of the March 31, 2016 net actuarial loss and $2.6 million of the March 31, 2016 prior service benefit in net periodic benefit cost during fiscal year 2017 . Allocation of Pension Plan Assets The Company has established, and periodically adjusts, target asset allocations for its investments in its U.S. ERISA-regulated defined benefit pension plan, which represents 90% of consolidated plan assets and 81% of consolidated PBO at March 31, 2016 , to balance the needs of liquidity, total return, and risk control. The assets are required to be diversified across asset classes and investment styles to achieve that balance. During the year, the asset allocation is reviewed for adherence to the target policy and rebalanced to the targeted weights. The Company reviews the expected long-term returns of the asset allocation each year to help determine whether changes are needed. The return is evaluated on a weighted-average basis in relation to inflation. As noted above and reflected in the table below, the Company has changed some of the underlying assets in the plan over the past two fiscal years to move toward a liability-driven investment strategy, resulting in a reduction of the expected long-term return on assets. The assumed long-term rate of return used to calculate annual benefit expense is based on the asset allocation and expected market returns for the respective asset classes. The weighted–average target pension asset allocation and target ranges at the March 31, 2016 measurement date and the actual asset allocations at the March 31, 2016 and 2015 measurement dates by major asset category were as follows: Actual Allocation Target Allocation March 31, Major Asset Category Range 2016 2015 Equity securities 26.0 % 16 % - 36% 22.4 % 25.3 % Fixed income securities (1) 69.0 % 59 % - 79% 71.5 % 69.1 % Alternative investments 5.0 % 0 % - 10% 6.1 % 5.6 % Total 100.0 % 100.0 % 100.0 % (1) Actual amounts include high yield securities and cash balances held for the payment of benefits. Universal makes regular contributions to its pension and other postretirement benefit plans. As previously noted, for postretirement health benefits, contributions reflect funding of those benefits as they are incurred. The Company expects to make contributions of approximately $7.3 million to its defined benefit pension plans in fiscal year 2017 , including $5.4 million to its ERISA-regulated U.S. plan and $1.9 million to its non-ERISA regulated and other plans. Estimated future benefit payments to be made from the Company’s plans are as follows: Fiscal Year Pension Benefits Other Postretirement Benefits 2017 $ 14,305 $ 2,944 2018 17,223 2,854 2019 22,358 2,874 2020 16,271 2,832 2021 16,799 2,807 2022 - 2026 90,913 12,915 Fair Values of Pension Plan Assets Assets held by the Company's defined benefit pension plans primarily consist of equity securities, fixed income securities, and alternative investments. Equity securities are primarily invested in actively-traded mutual funds with underlying common stock investments in U.S. and foreign companies ranging in size from small to large corporations. Fixed income securities are also held primarily through actively-traded mutual funds with the underlying investments in both U.S. and foreign securities. The methodologies for determining the fair values of the plan assets are outlined below. Where the values are based on quoted prices for the securities in an active market, they are classified as Level 1 of the fair value hierarchy. Where secondary pricing sources are used, they are classified as Level 2 of the hierarchy. Pricing models that use significant unobservable inputs are classified as Level 3. • Equity securities: Investments in equity securities through actively-traded mutual funds are valued based on the net asset values of the units held in the respective funds, which are determined by obtaining quoted prices on nationally recognized securities exchanges. These securities are classified as Level 1. • Fixed income securities: Fixed income investments that are held through mutual funds are valued based on the net asset values of the units held in the respective funds, which are determined by obtaining quoted prices on nationally recognized securities exchanges. These securities are classified as Level 1. Other fixed income investments are valued at an estimated price that a dealer would pay for a similar security on the valuation date using observable market inputs and are classified as Level 2. These market inputs may include yield curves for similarly rated securities. Small amounts of cash are held in common collective trusts. Fixed income securities also include insurance assets, which are valued based on an actuarial calculation. Those securities are classified as Level 3. • Alternative investments: Real estate assets are valued using valuation models that incorporate income and market approaches, including external appraisals, to derive fair values. The hedge fund allocation is a fund of hedge funds and is valued by the manager based on the net asset value of each fund. These models use significant unobservable inputs and are classified as Level 3 within the fair value hierarchy. Fair values of the assets of the Company’s pension plans as of March 31, 2016 and 2015 , classified based on how their values were determined under the fair value hierarchy are as follows: March 31, 2016 Level 1 Level 2 Level 3 Total Equity securities $ 43,807 $ — $ — $ 43,807 Fixed income securities (1) 141,218 7,491 13,382 162,091 Alternative investments — — 11,961 11,961 Total investments $ 185,025 $ 7,491 $ 25,343 $ 217,859 March 31, 2015 Level 1 Level 2 Level 3 Total Equity securities $ 51,300 $ — $ — $ 51,300 Fixed income securities (1) 141,655 7,738 12,424 161,817 Alternative investments — — 11,436 11,436 Total investments $ 192,955 $ 7,738 $ 23,860 $ 224,553 (1) Includes high yield securities and cash and cash equivalent balances. Other Benefit Plans Universal and several subsidiaries offer employer defined contribution savings plans. Amounts charged to expense for these plans were approximately $1.8 million for fiscal year 2016 , $1.8 million for fiscal year 2015 , and $1.6 million for fiscal year 2014 .

Common And Preferred Stock

Common And Preferred Stock	12 Months Ended
	Mar. 31, 2016
Class of Stock Disclosures [Abstract]
Common And Preferred Stock	COMMON AND PREFERRED STOCK Common Stock At March 31, 2016 , the Company’s shareholders had authorized 100,000,000 shares of its common stock, and 22,717,735 shares were issued and outstanding. Holders of the common stock are entitled to one vote for each share held on all matters requiring a vote. Holders of the common stock are also entitled to receive dividends when, as, and if declared by the Company’s Board of Directors. The Board of Directors customarily declares and pays regular quarterly dividends on the outstanding common shares; however, such dividends are at the Board’s full discretion, and there is no obligation to continue them. If dividends on the Company’s Series B 6.75% Convertible Perpetual Preferred Stock (the “Preferred Stock” or “Preferred Shares”) are not declared and paid for any dividend period, then the Company may not pay dividends on the common stock or repurchase common shares until the dividends on the Preferred Stock have been paid for a period of four consecutive quarters. Preferred Stock The Company is also authorized to issue up to 5,000,000 shares of preferred stock, 500,000 shares of which have been reserved for Series A Junior Participating Preferred Stock and 220,000 shares of which have been reserved for Series B 6.75% Convertible Perpetual Preferred Stock. No Series A Junior Participating Preferred Stock has been issued. In 2006, 220,000 shares of Series B 6.75% Convertible Perpetual Preferred Stock (the “Preferred Stock” or “Preferred Shares”) were issued under this authorization. At March 31, 2016 , 218,490 shares were issued and outstanding. The Preferred Stock has a liquidation preference of $1,000 per share. Holders of the Preferred Shares are entitled to receive quarterly dividends at the rate of 6.75% per annum on the liquidation preference when, as, and if declared by the Company’s Board of Directors. Dividends are not cumulative in the event the Board of Directors does not declare a dividend for one or more quarterly periods. Under the terms of the Preferred Stock, the Board of Directors is prohibited from declaring regular dividends on the Preferred Shares in any period in which the Company fails to meet specified levels of shareholders’ equity and net income; however, in that situation, the Board of Directors may instead declare such dividends payable in shares of the Company’s common stock or from net proceeds of common stock issued during the ninety-day period prior to the dividend declaration. The Preferred Shares have no voting rights, except in the event the Company fails to pay dividends for four consecutive or non-consecutive quarterly dividend periods or fails to pay the redemption price on any date that the Preferred Shares are called for redemption, in which case the holders of Preferred Shares will be entitled to elect two additional directors to the Company’s Board to serve until dividends on the Preferred Stock have been fully paid for four consecutive quarters. The Preferred Shares are convertible at any time, at the option of the holder, into shares of the Company’s common stock at a conversion rate that is adjusted each time the Company pays a dividend on its common stock that exceeds $0.43 per share. The conversion rate at March 31, 2016 , was 22.2744 shares of common stock per preferred share, which represents a conversion price of approximately $44.89 per common share. Upon conversion, the Company may, at its option, satisfy all or part of the conversion value in cash. Through March 15, 2018 , the Company may, at its option, cause the Preferred Shares to be automatically converted into shares of common stock that are issuable at the prevailing conversion rate, only if the closing price of the common stock during a specified period exceeds 135% of the then prevailing conversion price. With this conversion, the Company may, at its option, satisfy all or part of the conversion value in cash in lieu of delivering shares. On or after March 15, 2018 , the Company may, at its option, redeem all or part of the outstanding Preferred Shares for cash at the $1,000 per share liquidation preference. Share Repurchase Programs Universal’s Board of Directors has authorized programs to repurchase outstanding shares of the Company’s capital stock (common and preferred stock). Under these programs, the Company has made and may continue to make share repurchases from time to time in the open market or in privately negotiated transactions at prices not exceeding prevailing market rates. Programs have been in place continuously throughout fiscal years 2014 through 2016. The current program, which replaced an expiring program, was authorized and became effective on November 5, 2015. It authorizes the purchase of up to $100 million of the Company's outstanding common and/or preferred stock and expires on the earlier of November 15, 2017, or when the funds authorized for the program have been exhausted. At March 31, 2016 , the full $100 million authorization remained available for share repurchases under the current program. Share repurchases under the programs for the fiscal years ended March 31, 2016 , 2015 , and 2014 were as follows: Fiscal Year Ended March 31, 2016 2015 2014 Common Stock Number of shares repurchased — 719,993 238,486 Cost of shares repurchased (in thousands of dollars) $ — $ 31,227 $ 14,145 Weighted-average cost per share $ — $ 43.37 $ 59.31 Series B 6.75% Convertible Perpetual Preferred Stock Number of shares repurchased — 1,509 — Cost of shares repurchased (in thousands of dollars) $ — $ 1,497 $ — Weighted-average cost per share $ — $ 992.27 $ —

Executive Stock Plans And Stock

Executive Stock Plans And Stock-Based Compensation	12 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Executive Stock Plans And Stock-Based Compensation	EXECUTIVE STOCK PLANS AND STOCK-BASED COMPENSATION Executive Stock Plans The Company’s shareholders have approved executive stock plans under which officers, directors, and employees of the Company may receive grants and awards of common stock, restricted stock, restricted stock units (“RSUs”), performance share awards (“PSAs”), stock appreciation rights (“SARs”), incentive stock options, and non-qualified stock options. Currently, grants are outstanding under the 1997 Executive Stock Plan, the 2002 Executive Stock Plan, and the 2007 Stock Incentive Plan. Together, these plans are referred to in this disclosure as the “Plans.” Up to 2 million shares of the Company’s common stock may be issued under each of the Plans; however, direct awards of common stock, restricted stock, or RSUs are limited to 500,000 shares under the 2002 Executive Stock Plan and 1,350,000 shares under the 2007 Stock Incentive Plan. The Company’s practice is to award grants of stock-based compensation to officers at the first regularly-scheduled meeting of the Executive Compensation, Nominating, and Corporate Governance Committee of the Board of Directors (the “Compensation Committee”) in the fiscal year following the public release of the Company’s financial results for the prior year. Since fiscal year 2006, grants have been limited to restricted stock, RSUs, PSAs, and stock-settled SARs. In fiscal years 2014 through 2016 , the Compensation Committee has awarded only grants of RSUs and PSAs. Outside directors automatically receive restricted stock units following each annual meeting of shareholders. Non-qualified stock options and SARs granted under the Plans have an exercise price equal to the market price of a share of common stock on the date of grant. No stock options are currently outstanding under the Plans. SARs granted under the Plans vest in equal one-third tranches one, two, and three years after the grant date and expire 10 years after the grant date, except that SARs granted after fiscal year 2007 expire on the earlier of 3 years after the grantee’s retirement date or 10 years after the grant date. RSUs awarded under the Plans vest 5 years from the grant date and are then paid out in shares of common stock. Under the terms of the RSU awards, grantees receive dividend equivalents in the form of additional RSUs that vest and are paid out on the same date as the original RSU grant. The PSAs vest 3 years from the grant date, are paid out in shares of common stock at the vesting date, and do not carry rights to dividends or dividend equivalents prior to vesting. Shares ultimately paid out under PSA grants are dependent on the achievement of predetermined performance measures established by the Compensation Committee and can range from zero to 150% of the stated award. RSUs awarded to outside directors vest 3 years after the grant date, and restricted stock vests upon the individual’s retirement from service as a director. Stock Options and SARs The following tables summarize the Company’s stock option and SAR activity and related information for fiscal years 2014 through 2016 : Shares Weighted-Average Exercise Price Weighted-Average Contractual Term (in years) Aggregate Intrinsic Value Fiscal Year Ended March 31, 2014: Outstanding at beginning of year 418,477 $ 50.07 Exercised (161,137 ) 42.48 Outstanding at end of year 257,340 54.83 Fiscal Year Ended March 31, 2015: Exercised (63,539 ) 38.50 Cancelled/expired (24,200 ) 62.66 Outstanding at end of year 169,601 59.82 Fiscal Year Ended March 31, 2016: Exercised (6,200 ) 51.32 Cancelled/expired (11,200 ) 62.66 Outstanding at end of year 152,201 $ 59.96 1.14 $ 302 Fiscal Year Ended March 31, 2016 2015 2014 Total intrinsic value of stock options and SARs exercised $ 26 $ 1,091 $ 2,816 Total fair value of SARs vested $ — $ 375 $ 769 All of the grants outstanding at the end of fiscal year 2016 in the above tables represent SARs, all of which were exercisable at the end of the year. Intrinsic value and aggregate intrinsic value in the tables above are based on the difference between the market price of the underlying shares at the exercise date or balance sheet date, as applicable, and the exercise prices of the stock options and SARs. The closing market prices used to determine the aggregate intrinsic value at the end of each fiscal year were as follows: $56.81 at March 31, 2016 , $47.16 at March 31, 2015 , and $55.89 at March 31, 2014 . RSUs, Restricted Stock, and PSAs The following table summarizes the Company’s RSU, restricted stock, and PSA activity for fiscal years 2014 through 2016 : RSUs Restricted Stock PSAs Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Grant Date Fair Value Fiscal Year Ended March 31, 2014: Unvested at beginning of year 292,134 $ 41.23 59,850 $ 41.68 135,017 $ 35.12 Granted 70,092 57.79 — — 52,400 53.56 Vested (69,046 ) 44.89 (11,750 ) 39.02 (32,464 ) 33.95 Forfeited — — — — (5,566 ) 37.45 Unvested at end of year 293,180 44.33 48,100 42.33 149,387 41.76 Fiscal Year Ended March 31, 2015: Granted 94,539 51.86 — — 57,580 46.41 Vested (123,322 ) 42.02 — — (50,092 ) 31.95 Forfeited — — — — (3,400 ) 53.56 Unvested at end of year 264,397 48.10 48,100 42.33 153,475 45.58 Fiscal Year Ended March 31, 2016: Granted 80,932 51.62 — — 86,212 45.06 Vested (42,384 ) 41.64 — — (85,387 ) 38.14 Unvested at end of year 302,945 $ 49.95 48,100 $ 42.33 154,300 $ 48.13 Shares granted and vested in the above table include dividend equivalents on RSUs and any shares awarded above the base grant under the performance provisions of PSAs. Shares forfeited or canceled include any reductions from the base PSA grant under those same performance provisions. The fair values of RSUs, restricted stock, and PSAs are based on the market price of the common stock on the grant date. Stock-Based Compensation Expense Fair value expense for stock-based compensation is recognized ratably over the period from grant date to the earlier of (1) the vesting date of the award, or (2) the date the grantee is eligible to retire without forfeiting the award. For employees who are already eligible to retire at the date an award is granted, the total fair value of the award is recognized as expense at the date of grant. For the fiscal years ended March 31, 2016 , 2015 , and 2014 , total stock-based compensation expense and the related income tax benefit recognized were as follows: Fiscal Year Ended March 31, 2016 2015 2014 Total stock-based compensation expense $ 5,206 $ 6,230 $ 6,278 Income tax benefit recorded on stock-based compensation expense $ 1,822 $ 2,181 $ 2,197 At March 31, 2016 , the Company had $5.1 million of unrecognized compensation expense related to stock-based awards, which will be recognized over a weighted-average period of approximately 1.2 years . All stock options were exercised, cancelled, or expired before fiscal year 2016 . Cash proceeds from the exercise of stock options were not material for the fiscal years ended March 31, 2015 and 2014.

Commitments And Other Matters

Commitments And Other Matters	12 Months Ended
	Mar. 31, 2016
Commitments And Other Matters [Abstract]
Commitments And Other Matters	COMMITMENTS, CONTINGENCIES, AND OTHER MATTERS Commitments The Company enters into contracts to purchase tobacco from farmers in a number of the countries in which it operates. Contracts in most countries cover one annual growing season. Primarily with the farmer contracts in Brazil, Malawi, Mozambique, the Philippines, Guatemala, and Mexico, the Company provides seasonal financing to support the farmers’ production of their crops or guarantees their financing from third-party banks. At March 31, 2016 , the Company had contracts to purchase approximately $566 million of tobacco to be delivered during the coming fiscal year and $110 million of tobacco to be delivered in subsequent years. These amounts are estimates since actual quantities purchased will depend on crop yields, and prices will depend on the quality of the tobacco delivered and other market factors. Tobacco purchase obligations have been partially funded by advances to farmers and other suppliers, which totaled approximately $102 million , net of allowances, at March 31, 2016 . The Company withholds payments due to farmers on delivery of the tobacco to satisfy repayment of the financing it provided to the farmers. As noted above and discussed in more detail below, the Company also has arrangements to guarantee bank loans to farmers in Brazil, and payments are also withheld on delivery of tobacco to satisfy repayment of those loans. In addition to its contractual obligations to purchase tobacco, the Company had commitments related to agricultural materials, approved capital expenditures, and various other requirements that approximated $53 million at March 31, 2016 . Guarantees and Other Contingent Liabilities Guarantees of Bank Loans and Other Contingent Liabilities Guarantees of bank loans to growers for crop financing and construction of curing barns or other tobacco producing assets have long been industry practice in Brazil and support the farmers’ production of tobacco there. At March 31, 2016 , the Company’s total exposure under guarantees issued by its operating subsidiary for banking facilities of farmers in Brazil was approximately $11 million ( $13 million face amount including unpaid accrued interest, less $2 million recorded for the fair value of the guarantees). All of these guarantees expire within one year. As noted above, the subsidiary withholds payments due to the farmers on delivery of tobacco and forwards those payments to the third-party banks. Failure of farmers to deliver sufficient quantities of tobacco to the subsidiary to cover their obligations to the third-party banks could result in a liability for the subsidiary under the related guarantees; however, in that case, the subsidiary would have recourse against the farmers. The maximum potential amount of future payments that the Company’s subsidiary could be required to make at March 31, 2016 , was the face amount, $13 million including unpaid accrued interest ( $17 million as of March 31, 2015 ). The fair value of the guarantees was a liability of approximately $2 million at March 31, 2016 ( $2 million at March 31, 2015 ). In addition to these guarantees, the Company has other contingent liabilities totaling approximately $2 million at March 31, 2016 , primarily under outstanding letters of credit. Value-Added Tax Assessments in Brazil As discussed in Note 1, the Company's local operating subsidiaries pay significant amounts of value-added tax ("VAT") in connection with their normal operations. In Brazil, VAT is assessed at the state level when green tobacco is transferred between states. The Company's operating subsidiary there pays VAT when tobaccos grown in the states of Santa Catarina and Parana are transferred to its factory in the state of Rio Grande do Sul for processing. The subsidiary has received assessments for additional VAT plus interest and penalties from the tax authorities for the states of Santa Catarina and Parana based on audits of the subsidiary's VAT filings for specified periods. In June 2011, tax authorities for the state of Santa Catarina issued assessments for tax, interest, and penalties for periods from 2006 through 2009 totaling approximately $14 million . In September 2014, tax authorities for the state of Parana issued an assessment for tax, interest, and penalties for periods from 2009 through 2014 totaling approximately $15 million . These amounts are based on the exchange rate for the Brazilian currency at March 31, 2016 . Management of the operating subsidiary and outside counsel believe that errors were made by the tax authorities for both states in determining all or significant portions of these assessments and that various defenses support the subsidiary's positions. With respect to the Santa Catarina assessments, the subsidiary took appropriate steps to contest the full amount of the claims. As of March 31, 2016 , a portion of the subsidiary's arguments had been accepted, and the outstanding assessments had been reduced. The reduced assessment, together with the related accumulated interest through the end of the current reporting period, totaled approximately $12 million at the March 31, 2016 exchange rate. The subsidiary is continuing to contest the full remaining amount of the assessment. While the range of reasonably possible loss is zero up to the full $12 million remaining assessment, based on the strength of the subsidiary's defenses, no loss within that range is considered probable at this time and no liability has been recorded at March 31, 2016 . With respect to the Parana assessment, management of the subsidiary and outside counsel have undertaken the steps required to contest the full amount of the claim. A significant portion of the Parana assessment is based on positions taken by the tax authorities that management and outside counsel believe deviate significantly from the underlying statutes and relevant case law. In addition, under the law, the subsidiary's tax filings for certain periods covered in the assessment were no longer open to any challenge by the tax authorities. In December 2015, the Parana tax authorities withdrew the initial claim and subsequently issued a new assessment covering the same tax periods. The new assessment totaled approximately $5 million at the March 31, 2016 exchange rate, reflecting a substantial reduction from the original $15 million assessment. Notwithstanding the reduction, management and outside counsel continue to believe that the new assessment is not supported by the underlying statutes and relevant case law and have taken the necessary steps to challenge the full amount of the claim. The range of reasonably possible loss is considered to be zero up to the full $5 million assessment. However, based on the strength of the subsidiary's defenses, no loss within that range is considered probable at this time and no liability has been recorded at March 31, 2016 . In both states, the process for reaching a final resolution to the assessments is expected to be lengthy, and management is not currently able to predict when either case will be concluded. Should the subsidiary ultimately be required to pay any tax, interest, or penalties in either case, the portion paid for tax would generate value-added tax credits that the subsidiary may be able to recover. Other Contingent Liabilities Various subsidiaries of the Company are involved in other litigation and tax examinations incidental to their business activities. While the outcome of these matters cannot be predicted with certainty, management is vigorously defending the matters and does not currently expect that any of them will have a material adverse effect on the Company’s business or financial position. However, should one or more of these matters be resolved in a manner adverse to management’s current expectation, the effect on the Company’s results of operations for a particular fiscal reporting period could be material. Major Customers A material part of the Company’s business is dependent upon a few customers. The Company's five largest customers are Philip Morris International, Inc., British American Tobacco plc, Imperial Brands plc, Japan Tobacco, Inc., and China Tobacco International, Inc. In the aggregate, these customers have accounted for more than 60% of consolidated revenue for each of the past three fiscal years. For the fiscal years ended March 31, 2016 , 2015 , and 2014 , revenue from Philip Morris International, Inc. was approximately $640 million , $580 million , and $590 million , respectively. For the same periods, British American Tobacco plc accounted for revenue of approximately $230 million , $220 million , and $240 million , respectively, and Imperial Brands plc accounted for revenue of approximately $210 million , $280 million , and $340 million , respectively. These customers primarily do business with various affiliates in the Company’s flue-cured and burley leaf tobacco operations. The loss of, or substantial reduction in business from, any of these customers could have a material adverse effect on the Company. Accounts Receivable The Company’s operating subsidiaries perform credit evaluations of customers’ financial condition prior to the extension of credit. Generally, accounts receivable are unsecured and are due within 30 days. When collection terms are extended for longer periods, interest and carrying costs are usually recovered. Credit losses are provided for in the financial statements, and historically such amounts have not been material. The allowance for doubtful accounts was approximately $9 million and $5 million at March 31, 2016 and 2015 , respectively. At March 31, 2016 and 2015 , net accounts receivable by reportable operating segment were as follows: March 31, 2016 2015 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 85,985 $ 38,046 Other Regions 303,932 350,122 Subtotal 389,917 388,168 Other Tobacco Operations 38,742 46,194 Consolidated accounts receivable, net $ 428,659 $ 434,362 Favorable Outcome of IPI Tax Credit Case in Brazil During the first quarter of fiscal year 2014, a longstanding lawsuit related to IPI tax credits filed by the Company's operating subsidiary in Brazil was concluded in the subsidiary's favor with a decision by the Brazilian Superior Court of Justice on the final appeal filed by the Brazilian federal government. Although additional appeals by the government were expected in the case, the time period to file those appeals expired and the decision and overall outcome of the case were confirmed. IPI tax credits were established under Brazilian tax laws to allow recovery of a portion of the excise taxes paid on manufactured products when those products are sold in export markets. In prior years, the subsidiary paid excise taxes on the component cost of unprocessed tobacco purchased from growers, as well as the cost of electricity, packing materials, and other inputs used in its manufacturing process. Under the law, the subsidiary believed it was entitled to use IPI tax credits to recover excise taxes on the processed tobacco it exported. However, specific regulations issued by the Brazilian tax authorities did not permit the subsidiary to claim those credits. The suit filed by the subsidiary challenged the denial of the tax credits based on the law. Several decisions in lower courts were decided in the subsidiary's favor for a portion of the tax credits claimed in the suit, but those decisions were appealed on various grounds by both the government and the subsidiary. The expiration of the appeal period ended the matter in the courts. The final court decision entitled the subsidiary to approximately $104 million of IPI tax credits (based on the exchange rate at the date of the decision), which are being used to offset payments of other Brazilian federal taxes. That amount includes the tax credits generated over the period granted by the courts, as well as interest calculated from the date those credits should have been available to the subsidiary. The ability to use the tax credits to offset other Brazilian federal tax payments expires five years after the subsidiary's right to claim the credits was confirmed. Utilization of the credits is also subject to audit by the tax authorities. Based on estimates of the tax credits that were probable of being realized at the time the case was decided, the subsidiary recorded an allowance, reducing the net book value of the credits to approximately $90 million . After deducting related legal fees and Brazilian social contribution taxes assessed on the interest portion of the total IPI tax credits received, the subsidiary recorded a net gain of $81.6 million ( $53.1 million after tax, or $1.87 per diluted share) during the first quarter of fiscal year 2014, as a result of the favorable outcome of the case. In the fourth quarter of fiscal year 2015, based on actual realization of the tax credits to date, as well as updated tax payment projections for future periods, revised estimates indicated that all remaining IPI tax credits would be fully utilized prior to expiration. On that basis, the subsidiary reversed the full remaining valuation allowance on the credits of $12.7 million (based on the then current exchange rate) during the quarter. The original gain in fiscal year 2014 and the reversal of the valuation allowance in fiscal year 2015 are reported in Other Income in the consolidated statements of income. Acquisition of Partner's Interest in Tobacco Processing Joint Venture For a number of years, the Company held a 50% joint venture ownership interest in Procesadora Unitab, S.A., a tobacco processing entity in Guatemala. In December 2015, the Company acquired the 50% interest held by its joint venture partner for $6.0 million in cash. In accordance with Accounting Standards Codification Topic 805, "Business Combinations" (“ASC 805”), the transaction was accounted for using the acquisition method of accounting, which required the Company to record all underlying assets and liabilities of the entity at their fair values as of the transaction date and to consolidate the financial statements of the entity. Based on those fair values, the Company recorded a pretax gain of $3.4 million on the transaction during the third quarter of fiscal year 2016. The gain is reported in Other Income in the consolidated statements of income. The purchase price of the newly-acquired 50% interest approximated fair value, and the gain resulted from remeasuring the Company’s original 50% ownership interest in the entity to fair value. No goodwill or identifiable intangible assets were recorded as part of the transaction, and acquisition-related costs were not significant. The pro forma result of operations of the combined companies would not be materially different from the Company’s historical results, and the revenues and earnings of the acquired entity since the date of acquisition are not material. The allocation of the fair values to the net assets acquired was complete at the time the transaction was recorded. Based on the nature of its operations, the net assets of the acquired entity are comprised primarily of property, plant, and equipment, and the fair values recorded for those assets totaled approximately $12.0 million based primarily on a third-party appraisal. The acquired entity is included in the Company’s North America operating segment.

Operating Segments

Operating Segments	12 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Operating Segments	OPERATING SEGMENTS Universal’s operations involve selecting, procuring, processing, packing, storing, shipping, and financing leaf tobacco for sale to, or for the account of, manufacturers of consumer tobacco products throughout the world. Through various operating subsidiaries located in tobacco-growing countries around the world and significant ownership interests in unconsolidated affiliates, the Company processes and/or sells flue-cured and burley tobaccos, dark air-cured tobaccos, and oriental tobaccos. Flue-cured, burley, and oriental tobaccos are used principally in the manufacture of cigarettes, and dark air-cured tobaccos are used mainly in the manufacture of cigars, pipe tobacco, and smokeless tobacco products. A substantial portion of the Company’s revenues are derived from sales to a limited number of large, multinational cigarette manufacturers. The principal approach used by management to evaluate the Company’s performance is by geographic region, although the dark air-cured and oriental tobacco businesses are each evaluated on the basis of their worldwide operations. Oriental tobacco operations consist principally of a 49% interest in an affiliate, and the performance of those operations is evaluated based on the Company’s equity in the pretax earnings of that affiliate. Under this structure, the Company has the following primary operating segments: North America, South America, Africa, Europe, Asia, Dark Air-Cured, Oriental, and Special Services. North America, South America, Africa, Europe, and Asia are primarily involved in flue-cured and/or burley leaf tobacco operations for supply to cigarette manufacturers. The Dark Air-Cured group supplies dark air-cured tobacco principally to manufacturers of cigars, pipe tobacco, and smokeless tobacco products, and the Oriental business supplies oriental tobacco to cigarette manufacturers. From time to time, the segments may trade in tobaccos that differ from their main varieties, but those activities are not significant to their overall results. Special Services includes the Company's laboratory services business, which provides physical and chemical product testing and smoke testing for customers, as well as its liquid nicotine joint venture and its food ingredients business. The five regional operating segments serving the Company’s cigarette manufacturer customer base share similar characteristics in the nature of their products and services, production processes, class of customer, product distribution methods, and regulatory environment. Based on the applicable accounting guidance, four of the regions – South America, Africa, Europe, and Asia – are aggregated into a single reporting segment, “Other Regions”, because they also have similar economic characteristics. North America is reported as an individual operating segment because its economic characteristics differ from the other regions, generally because its operations require lower working capital investments for crop financing and inventory. The Dark Air-Cured, Oriental and Special Services segments, which have dissimilar characteristics in some of the categories mentioned above, are reported together as “Other Tobacco Operations” because each is below the measurement threshold for separate reporting. Universal incurs overhead expenses related to senior management, finance, legal, and other functions that are centralized at its corporate headquarters, as well as functions performed at several sales and administrative offices around the world. These overhead expenses are allocated to the various operating segments, generally on the basis of tobacco volumes planned to be purchased and/or processed. Management believes this method of allocation is representative of the value of the related services provided to the operating segments. The Company evaluates the performance of its segments based on operating income after allocated overhead expenses, plus equity in the pretax earnings of unconsolidated affiliates. Reportable segment data as of, or for, the fiscal years ended March 31, 2016 , 2015 , and 2014 , is as follows: Sales and Other Operating Revenues Operating Income Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2016 2015 2014 2016 2015 2014 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 361,827 $ 305,028 $ 348,627 $ 31,147 $ 31,060 $ 23,217 Other Regions (1) 1,538,971 1,739,781 1,932,228 143,596 125,839 133,447 Subtotal 1,900,798 2,044,809 2,280,855 174,743 156,899 156,664 Other Tobacco Operations (2) 219,575 226,992 261,260 11,325 10,326 18,511 Segment total 2,120,373 2,271,801 2,542,115 186,068 167,225 175,175 Deduct: Equity in pretax earnings of unconsolidated affiliates (3) (5,422 ) (7,137 ) (3,897 ) Restructuring and impairment costs (4) (2,389 ) (4,890 ) (6,746 ) Add: Other income (5) 3,390 12,676 81,619 Consolidated total $ 2,120,373 $ 2,271,801 $ 2,542,115 $ 181,647 $ 167,874 $ 246,151 Segment Assets Goodwill March 31, March 31, 2016 2015 2014 2016 2015 2014 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 364,271 $ 281,757 $ 272,161 $ — $ — $ — Other Regions (1) 1,549,758 1,609,393 1,676,507 97,318 97,372 97,367 Subtotal 1,914,029 1,891,150 1,948,668 97,318 97,372 97,367 Other Tobacco Operations (2) 318,768 297,299 316,225 1,713 1,713 1,713 Segment and consolidated totals $ 2,232,797 $ 2,188,449 $ 2,264,893 $ 99,031 $ 99,085 $ 99,080 Depreciation and Amortization Capital Expenditures Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2016 2015 2014 2016 2015 2014 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 4,314 $ 4,284 $ 6,018 $ 2,282 $ 5,814 $ 2,676 Other Regions (1) 29,187 28,827 29,044 25,122 39,303 37,584 Subtotal 33,501 33,111 35,062 27,404 45,117 40,260 Other Tobacco Operations (2) 4,143 4,213 3,837 19,749 13,268 5,589 Segment and consolidated totals $ 37,644 $ 37,324 $ 38,899 $ 47,153 $ 58,385 $ 45,849 (1) Includes South America, Africa, Europe, and Asia regions, as well as inter-region eliminations. (2) Includes Dark Air-Cured, Oriental, and Special Services, as well as inter-company eliminations. Sales and other operating revenues, goodwill, depreciation and amortization, and capital expenditures include limited amounts or no amounts for Oriental because the business is accounted for on the equity method and its financial results consist principally of equity in the pretax earnings of the unconsolidated affiliate. The investment in the unconsolidated affiliate is included in segment assets and was approximately $81.8 million , $74.9 million , and $93.3 million , at March 31, 2016 , 2015 , and 2014 , respectively. (3) Equity in pretax earnings of unconsolidated affiliates is included in segment operating income (Other Tobacco Operations segment), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income. (4) Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income (see Note 2). (5) Other income in fiscal year 2016 represents a gain from remeasuring to fair value the Company's original 50% ownership in Procesadora Unitab, S.A., a tobacco processing joint venture in Guatemala, upon acquiring the 50% interest held by the Company's joint venture partner (See Note 13). Other income represents the reversal of a valuation allowance on IPI excise tax credits in Brazil in fiscal year 2015 and the gain on the favorable outcome of the IPI tax credit case in fiscal year 2014 (see Note 13). Geographic data as of, or for, the fiscal years ended March 31, 2016 , 2015 , and 2014 , is presented below. Sales and other operating revenues are attributed to individual countries based on the final destination of the shipment. Long-lived assets generally consist of net property, plant, and equipment, goodwill, and other intangibles. Geographic Data Sales and Other Operating Revenues Fiscal Year Ended March 31, 2016 2015 2014 Belgium $ 371,580 $ 336,396 $ 289,206 United States 275,147 290,950 304,527 Germany 155,180 170,338 173,872 China 135,032 174,872 210,956 Netherlands 121,767 113,297 208,031 Russia 109,559 126,652 123,114 All other countries 952,108 1,059,296 1,232,409 Consolidated total $ 2,120,373 $ 2,271,801 $ 2,542,115 Long-Lived Assets March 31, 2016 2015 2014 United States $ 84,072 $ 70,929 $ 61,347 Brazil 133,727 135,980 135,359 Mozambique 53,069 55,733 49,543 All other countries 154,090 141,893 149,750 Consolidated total $ 424,958 $ 404,535 $ 395,999

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss), Net of Tax	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in the balances for each component of accumulated other comprehensive income (loss) attributable to the Company for the fiscal years ended March 31, 2016 , 2015 , and 2014 : Fiscal Year Ended March 31, (in thousands of dollars) 2016 2015 2014 Foreign currency translation: Balance at beginning of year $ (31,138 ) $ (8,476 ) $ (15,555 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on foreign currency translation (net of tax (expense) benefit of $(2,119), $12,181, and $(3,489)) 3,934 (22,625 ) 6,480 Less: Net loss (gain) on foreign currency translation attributable to noncontrolling interests 212 (37 ) 599 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 4,146 (22,662 ) 7,079 Balance at end of year $ (26,992 ) $ (31,138 ) $ (8,476 ) Foreign currency hedge: Balance at beginning of year $ (1,834 ) $ 769 $ (855 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(1,060), $2,304, and $(312)) 1,969 (4,280 ) 580 Reclassification of net loss to earnings (net of tax benefit of $(291), $(903), and $(563)) (1) 540 1,677 1,044 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 2,509 (2,603 ) 1,624 Balance at end of year $ 675 $ (1,834 ) $ 769 Interest rate hedge: Balance at beginning of year $ (1,982 ) $ (608 ) $ (1,091 ) Other comprehensive income (loss) attributable to Universal Corporation: Net loss on derivative instruments (net of tax benefit of $4,489, $1,416, and $49) (8,335 ) (2,628 ) (93 ) Reclassification of net loss to earnings (net of tax benefit of $(1,788), $(675), and $(310)) (2) 3,320 1,254 576 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes (5,015 ) (1,374 ) 483 Balance at end of year $ (6,997 ) $ (1,982 ) $ (608 ) Pension and other postretirement benefit plans: Balance at beginning of year $ (40,040 ) $ (26,017 ) $ (58,039 ) Other comprehensive income (loss) attributable to Universal Corporation: Gains (losses) arising during the year (net of tax (expense) benefit of $1,035, $9,719, and $(6,449)) (3) (1,921 ) (18,049 ) 11,977 Prior service credit arising during the year (net of tax expense of $7,751) (3) — — 14,394 Amortization included in earnings (net of tax benefit of $(1,576), $(2,163), and $(3,042)) (4) 2,925 4,026 5,651 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 1,004 (14,023 ) 32,022 Balance at end of year $ (39,036 ) $ (40,040 ) $ (26,017 ) Total accumulated other comprehensive income (loss) at end of year $ (72,350 ) $ (74,994 ) $ (34,332 ) (1) Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 8 for additional information. (2) Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the debt or upon termination of the interest rate swap agreements prior to their scheduled maturity dates. See Note 8 for additional information. (3) These items arise from the remeasurement of the assets and liabilities of the Company's defined benefit pension plans. Those remeasurements are made on an annual basis at the end of the fiscal year. In addition, the assets and liabilities of the Company's U.S.-based pension plans were also remeasured on an interim basis during the second quarter of fiscal year 2014 to reflect the effect of plan amendments adopted during the period. See Note 10 for additional information. (4) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10 for additional information.

Unaudited Quarterly Financial D

Unaudited Quarterly Financial Data	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	UNAUDITED QUARTERLY FINANCIAL DATA Unaudited quarterly financial data for the fiscal years ended March 31, 2016 and 2015 is provided in the table below. Due to the seasonal nature of the Company's business, management believes it is generally more meaningful to focus on cumulative rather than quarterly results. First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Ended March 31, 2016 Operating Results: Sales and other operating revenues $ 275,419 $ 456,382 $ 584,592 $ 803,980 Gross profit 48,389 98,094 119,906 140,942 Net income (loss) (6,125 ) 25,064 46,615 52,594 Net income (loss) attributable to Universal Corporation (5,947 ) 22,465 44,534 47,964 Earnings (loss) available to Universal Corporation common shareholders after dividends on convertible perpetual preferred stock (9,634 ) 18,778 40,847 44,277 Earnings (loss) per share attributable to Universal Corporation common shareholders: Basic (0.43 ) 0.83 1.80 1.95 Diluted (0.43 ) 0.81 1.60 1.72 Cash Dividends Declared: Per share of convertible perpetual preferred stock 16.88 16.87 16.88 16.87 Per share of common stock 0.52 0.52 0.53 0.53 Market Price Range of Common Stock: High 57.76 58.41 57.72 57.27 Low 46.80 46.98 49.70 51.49 Fiscal Year Ended March 31, 2015 Operating Results: Sales and other operating revenues $ 271,472 $ 464,116 $ 758,054 $ 778,159 Gross profit 55,540 85,071 147,572 122,091 Net income 525 15,484 58,077 46,375 Net income attributable to Universal Corporation 717 15,025 53,039 45,827 Earnings (loss) available to Universal Corporation common shareholders after dividends on convertible perpetual preferred stock (2,995 ) 11,312 49,309 42,122 Earnings (loss) per share attributable to Universal Corporation common shareholders: Basic (0.13 ) 0.49 2.13 1.86 Diluted (0.13 ) 0.48 1.87 1.64 Cash Dividends Declared: Per share of convertible perpetual preferred stock 16.88 16.87 16.88 16.87 Per share of common stock 0.51 0.51 0.52 0.52 Market Price Range of Common Stock: High 56.82 56.35 45.63 48.10 Low 52.16 44.39 38.53 39.27 Note: Earnings per share amounts for each fiscal year may not equal the total of the four quarterly amounts due to differences in weighted-average outstanding shares for the respective periods and to the fact that the Company’s convertible perpetual preferred stock may be antidilutive for some periods. Significant items included in the quarterly results were as follows: Fiscal Year Ended March 31, 2016 • First Quarter – restructuring and impairment costs totaling $2.4 million related to a decision to significantly scale back the Company's operations in Zambia. The costs included statutory employee termination benefits, impairment charges related to outstanding balances on loans to farmers whose contracts were terminated as a result of the decision, and impairment charges on certain property and equipment. The restructuring and impairment costs reduced net income attributable to Universal Corporation by $1.6 million and diluted earnings per share by $0.06 . • Third Quarter – a $3.4 million pretax gain arising from the acquisition of a joint venture partner's 50% ownership interest in a tobacco processing entity in Guatemala. The transaction increased the Company's ownership interest in the entity to 100%, requiring consolidation of the financial statements of the entity and remeasurement of the Company's original 50% ownership interest to fair value, resulting in the gain. The gain increased net income attributable to Universal Corporation by $2.2 million and diluted earnings per share by $0.08 . Fiscal Year Ended March 31, 2015 • First Quarter – an income tax benefit of $8.0 million resulting from the ability of the Company's subsidiary, Deltafina S.p.A, to pay a significant portion of a fine and related interest charges settled during the quarter following the unsuccessful appeal of a case brought by the European Commission related to tobacco buying practices in Italy. The tax benefit reduced the diluted loss per share after dividends on the Company's convertible perpetual preferred stock by $0.34 . • Second Quarter – restructuring costs of approximately $3.4 million , primarily related to workforce reductions in the Company's operations in Brazil, as well as the suspension of operations in Argentina. The restructuring costs reduced net income attributable to Universal Corporation by $2.2 million and diluted earnings per share by $0.09 . • Third Quarter – additional restructuring costs of approximately $1.1 million , primarily related to additional workforce reductions in Brazil, as well the suspension of operations in Argentina. The restructuring costs reduced net income attributable to Universal Corporation by $0.7 million and diluted earnings per share by $0.03 . • Fourth Quarter – a gain of $12.7 million from the reversal of a valuation allowance on the remaining unused balance of IPI excise tax credits in Brazil. The gain increased net income attributable to Universal Corporation by $8.2 million and diluted earnings per share by $0.30 . The Company also recorded additional restructuring costs of approximately $0.4 million , which reduced net income attributable to Universal Corporation by approximately $0.3 million and diluted earnings per share by $0.01 .

Schedule II - Valuation And Qua

Schedule II - Valuation And Qualifying Accounts	12 Months Ended
	Mar. 31, 2016
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation And Qualifying Accounts	Schedule II - Valuation and Qualifying Accounts Universal Corporation Fiscal Years Ended March 31, 2016 , 2015 , and 2014 Description Balance at Beginning of Year Net Additions (Reversals) Charged to Expense Additions Charged to Other Accounts Deductions (1) Balance at End of Year (in thousands of dollars) Fiscal Year Ended March 31, 2014: Allowance for doubtful accounts (deducted from accounts receivable) $ 7,968 $ 419 $ — $ (1,851 ) $ 6,536 Allowance for supplier accounts (deducted from advances to suppliers and other noncurrent assets) 54,393 5,461 — (13,776 ) 46,078 Allowance for recoverable taxes (deducted from other current assets and other noncurrent assets) 26,044 5,607 — (2,147 ) 29,504 Fiscal Year Ended March 31, 2015: Allowance for doubtful accounts (deducted from accounts receivable) $ 6,536 $ 1,341 $ — $ (2,395 ) $ 5,482 Allowance for supplier accounts (deducted from advances to suppliers and other noncurrent assets) 46,078 3,734 — (15,139 ) 34,673 Allowance for recoverable taxes (deducted from other current assets and other noncurrent assets) 29,504 1,855 — (8,141 ) 23,218 Fiscal Year Ended March 31, 2016: Allowance for doubtful accounts (deducted from accounts receivable) $ 5,482 $ 6,970 $ — $ (3,353 ) $ 9,099 Allowance for supplier accounts (deducted from advances to suppliers and other noncurrent assets) 34,673 815 — (6,623 ) 28,865 Allowance for recoverable taxes (deducted from other current assets and other noncurrent assets) 23,218 1,755 — (6,221 ) 18,752 (1) Includes direct write-offs of assets and currency remeasurement.

Nature Of Operations And Sign26

Nature Of Operations And Significant Accounting Policies Nature of Operations and Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Nature Of Operations [Policy Text Block]	Nature of Operations Universal Corporation, which together with its subsidiaries is referred to herein as “Universal” or the “Company,” is the leading global leaf tobacco supplier. The Company conducts business in over 30 countries, primarily in major tobacco-producing regions of the world.
Consolidation, Policy [Policy Text Block]	Consolidation The consolidated financial statements include the accounts of Universal Corporation and all domestic and foreign subsidiaries in which the Company maintains a controlling financial interest. Control is generally determined based on a voting interest of greater than 50%, such that Universal controls all significant corporate activities of the subsidiary. All significant intercompany accounts and transactions are eliminated in consolidation. The equity method of accounting is used for investments in companies where Universal Corporation has a voting interest of 20% to 50%. These investments are accounted for under the equity method because Universal exercises significant influence over those companies, but not control. The Company received dividends totaling $3.4 million in fiscal year 2016 , $5.2 million in fiscal year 2015 , and $6.5 million in fiscal year 2014 , from companies accounted for under the equity method. Investments where Universal has a voting interest of less than 20% are not significant and are accounted for under the cost method. Under the cost method, the Company recognizes earnings upon its receipt of dividends to the extent they represent a distribution of retained earnings. The Company's 49% ownership interest in Socotab L.L.C. (“Socotab”), a leading supplier of oriental tobaccos with operations located principally in Eastern Europe and Turkey, is the primary investment accounted for under the equity method. The investment in Socotab is an important part of the Company's overall product and service arrangements with its major customers. As discussed further below, the Company reviews the carrying value of its investments in unconsolidated affiliates on a regular basis and considers whether any factors exist that might indicate an impairment in value that is other than temporary. At March 31, 2016 , the Company determined that no such factors existed with respect to the investment in Socotab. The Company, together with Socotab management, regularly evaluates the outlook for the business, and an impairment charge could be recorded in a future period if it is determined that the fair value of the investment is less than the carrying value and the decline in value is not temporary. In fiscal year 2006, the Company deconsolidated its operations in Zimbabwe under accounting requirements that apply under certain conditions to foreign subsidiaries that are subject to foreign exchange controls and other government restrictions. Since that time, the investment has been accounted for using the cost method, as required under the accounting guidance. The investment in the Zimbabwe operations was zero at March 31, 2016 and 2015 . The Company has a net foreign currency translation loss associated with the Zimbabwe operations of approximately $7.2 million , which remains a component of accumulated other comprehensive loss. As a regular part of its reporting, the Company reviews the conditions that resulted in the deconsolidation of the Zimbabwe operations to confirm that such accounting treatment is still appropriate. Dividends from the Zimbabwe operations are recorded in income in the period received. The Company holds less than a 100% financial interest in certain consolidated subsidiaries. The net income and shareholders’ equity attributable to the noncontrolling interests in these subsidiaries are reported on the face of the consolidated financial statements. During fiscal years 2016 , 2015 , and 2014 , there were no changes in the Company’s ownership percentage in any of these subsidiaries.
Investment, Policy [Policy Text Block]	Investments in Unconsolidated Affiliates The Company’s equity method investments and its cost method investments, which include its Zimbabwe operations, are non-marketable securities. Universal reviews such investments for impairment whenever events or changes in circumstances indicate that the carrying amount of an investment may not be recovered. For example, the Company would review such an investment for impairment if the investee were to lose a significant customer, suffer a large reduction in sales margins, experience a major change in its business environment, or undergo any other significant change in its normal business. In assessing the recoverability of equity or cost method investments, the Company follows the applicable accounting guidance in determining the fair value of the investments. In most cases, this involves the use of discounted cash flow models (Level 3 of the fair value hierarchy under the accounting guidance). If the fair value of an equity or cost method investee is determined to be lower than its carrying value, an impairment loss is recognized. The determination of fair value using discounted cash flow models is normally not based on observable market data from independent sources and therefore requires significant management judgment with respect to estimates of future operating earnings and the selection of an appropriate discount rate. The use of different assumptions could increase or decrease estimated future operating cash flows, and the discounted value of those cash flows, and therefore could increase or decrease any impairment charge related to these investments. In its consolidated statements of income, the Company reports its proportional share of earnings of unconsolidated affiliates accounted for on the equity method based on the pretax earnings of those affiliates, as permitted under the applicable accounting guidance. All applicable foreign and U.S. income taxes are provided on these earnings and reported as a component of consolidated income tax expense. For unconsolidated affiliates located in foreign jurisdictions, repatriation of the Company’s share of the earnings through dividends is assumed in determining consolidated income tax expense. The following table provides a reconciliation of (1) equity in the pretax earnings of unconsolidated affiliates, as reported in the consolidated statements of income to (2) equity in the net income of unconsolidated affiliates, net of dividends, as reported in the consolidated statements of cash flows for the fiscal years ended March 31, 2016 , 2015 , and 2014 : Fiscal Year Ended March 31, 2016 2015 2014 Equity in pretax earnings reported in the consolidated statements of income $ 5,422 $ 7,137 $ 3,897 Less: Equity in income taxes (2,156 ) (834 ) (809 ) Equity in net income 3,266 6,303 3,088 Less: Dividends received on investments (1) (3,422 ) (5,228 ) (6,508 ) Equity in net income, net of dividends, reported in the consolidated statements of cash flows $ (156 ) $ 1,075 $ (3,420 ) (1) In accordance with the applicable accounting guidance, dividends received from unconsolidated affiliates accounted for on the equity method that represent a return on capital (i.e., a return of earnings on a cumulative basis) are presented as operating cash flows in the consolidated statements of cash flows.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share The Company calculates basic earnings per share based on earnings available to common shareholders after payment of dividends on the Company’s Series B 6.75% Convertible Perpetual Preferred Stock. The calculation uses the weighted average number of common shares outstanding during each period. Diluted earnings per share is computed in a similar manner using the weighted average number of common shares and dilutive potential common shares outstanding. Dilutive potential common shares are outstanding dilutive stock options and stock appreciation rights that are assumed to be exercised, unvested restricted stock units and performance share awards that are assumed to be fully vested and paid out in shares of common stock, and shares of convertible perpetual preferred stock that are assumed to be converted when the effect is dilutive. In periods when the effect of the convertible perpetual preferred stock is dilutive and these shares are assumed to be converted into common stock, dividends paid on the preferred stock are excluded from the calculation of diluted earnings per share. Calculations of earnings per share for the fiscal years ended March 31, 2016 , 2015 , and 2014 , are provided in Note 3.
Cash and Cash Equivalents [Policy Text Block]	Cash and Cash Equivalents All highly liquid investments with a maturity of three months or less at the time of purchase are classified as cash equivalents.
Advances to Suppliers [Policy Text Block]	Advances to Suppliers In many sourcing origins where the Company operates, it provides agronomy services and seasonal advances of seed, fertilizer, and other supplies to tobacco farmers for crop production, or makes seasonal cash advances to farmers for the procurement of those inputs. These advances are short term, are repaid upon delivery of tobacco to the Company, and are reported in advances to suppliers in the consolidated balance sheets. In several origins, the Company has made long-term advances to tobacco farmers to finance curing barns and other farm infrastructure. In some years, due to low crop yields and other factors, individual farmers may not deliver sufficient volumes of tobacco to fully repay their seasonal advances, and the Company may extend repayment of those advances into future crop years. The long-term portion of advances is included in other noncurrent assets in the consolidated balance sheets. Both the current and the long-term portions of advances to suppliers are reported net of allowances recorded when the Company determines that amounts outstanding are not likely to be collected. Short-term and long-term advances to suppliers totaled approximately $134 million at March 31, 2016 , and $156 million at March 31, 2015 . The related valuation allowances totaled $29 million at March 31, 2016 , and $35 million at March 31, 2015 , and were estimated based on the Company’s historical loss information and crop projections. The allowances were increased by net provisions for estimated uncollectible amounts of approximately $0.8 million in fiscal year 2016 , $3.7 million in fiscal year 2015 , and $5.5 million in fiscal year 2014 . These provisions are included in selling, general, and administrative expenses in the consolidated statements of income. Interest on advances is recognized in earnings upon the farmers’ delivery of tobacco in payment of principal and interest. Advances on which interest accrual had been discontinued totaled approximately $11 million at March 31, 2016 , and $15 million at March 31, 2015 .
Inventory, Policy [Policy Text Block]	Inventories Tobacco inventories are valued at the lower of cost or market. Raw materials primarily consist of unprocessed leaf tobacco, which is clearly identified by type and grade at the time of purchase. The Company tracks the costs associated with this tobacco in the final product lots, and maintains this identification through the time of sale. This method of cost accounting is referred to as the specific cost or specific identification method. The predominant cost component of the Company’s inventories is the cost of the unprocessed tobacco. Direct and indirect processing costs related to these raw materials are capitalized and allocated to inventory in a systematic manner. The Company does not capitalize any interest or sales-related costs in inventory. Freight costs are recorded in cost of goods sold. Other inventories consist primarily of seed, fertilizer, packing materials, and other supplies, and are valued principally at the lower of average cost or market.
Recoverable Value-Added Tax Credits [Policy Text Block]	Recoverable Value-Added Tax Credits In many foreign countries, the Company’s local operating subsidiaries pay significant amounts of value-added tax (“VAT”) on purchases of unprocessed and processed tobacco, crop inputs, packing materials, and various other goods and services. In some countries, VAT is a national tax, and in other countries it is assessed at the state level. Items subject to VAT vary from jurisdiction to jurisdiction, as do the rates at which the tax is assessed. When tobacco is sold to customers in the country of origin, the operating subsidiaries generally collect VAT on those sales. The subsidiaries are normally permitted to offset their VAT payments against the collections and remit only the incremental VAT collections to the tax authorities. When tobacco is sold for export, VAT is normally not assessed. In countries where tobacco sales are predominately for export markets, VAT collections generated on downstream sales are often not sufficient to fully offset the subsidiaries’ VAT payments. In those situations, unused VAT credits can accumulate. Some jurisdictions have procedures that allow companies to apply for refunds of unused VAT credits from the tax authorities, but the refund process often takes an extended period of time, and it is not uncommon for refund applications to be challenged or rejected in part on technical grounds. Other jurisdictions may permit companies to sell or transfer unused VAT credits to third parties in private transactions, although approval for such transactions must normally be obtained from the tax authorities, limits on the amounts that can be transferred may be imposed, and the proceeds realized may be heavily discounted from the face value of the credits. Due to these factors, local operating subsidiaries in some countries can accumulate significant balances of VAT credits over time. The Company reviews these balances on a regular basis and records valuation allowances on the credits to reflect amounts that are not expected to be recovered, as well as discounts anticipated on credits that are expected to be sold or transferred. At March 31, 2016 and 2015 , the aggregate balances of recoverable tax credits held by the Company’s subsidiaries totaled approximately $52 million and $60 million , respectively, and the related valuation allowances totaled approximately $19 million and $23 million , respectively. The net balances are reported in other current assets and other noncurrent assets in the consolidated balance sheets.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment Depreciation of plant and equipment is based upon historical cost and the estimated useful lives of the assets. Depreciation is calculated primarily using the straight-line method. Buildings include tobacco processing and blending facilities, offices, and warehouses. Machinery and equipment consists of processing and packing machinery and transport, office, and computer equipment. Estimated useful lives range as follows: buildings - 15 to 40 years; processing and packing machinery - 3 to 11 years; transport equipment - 3 to 10 years; and office and computer equipment - 3 to 10 years. Where applicable and material in amount, the Company capitalizes related interest costs during periods that property, plant and equipment are being constructed or made ready for service. No interest was capitalized in fiscal years 2016 , 2015 , or 2014 .
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Other Intangibles Goodwill and other intangibles principally consist of the excess of the purchase price of acquired companies over the fair value of the net assets. Goodwill is carried at the lower of cost or fair value. Accounting Standards Codification Topic 350 (“ASC 350”) permits companies to base their initial assessments of potential goodwill impairment on qualitative factors, and the Company elected to use that approach at March 31, 2016 and 2015 . Those factors did not indicate any potential impairment of the Company's recorded goodwill. Reporting units are distinct operating subsidiaries or groups of subsidiaries that typically compose the Company’s business in a specific country or location. Goodwill is allocated to reporting units based on the country or location to which a specific acquisition relates, or by allocation based on expected future cash flows if the acquisition relates to more than one country or location. The majority of the Company’s goodwill relates to its reporting unit in Brazil. Significant adverse changes in the operations or estimated future cash flows for a reporting unit with recorded goodwill could result in an impairment charge. No charges for goodwill impairment were recorded in fiscal years 2016 , 2015 , or 2014 .
Impairment or Disposal of Long-Lived Intangible Assets, Impairment, Policy [Policy Text Block]	Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment whenever events, changes in business conditions, or other circumstances provide an indication that such assets may be impaired. Potential impairment is initially assessed by comparing management’s undiscounted estimates of future cash flows from the use or disposition of the assets to their carrying value. If the carrying value exceeds the undiscounted cash flows, an impairment charge is recorded to reduce the carrying value of the asset to its fair value determined in accordance with the accounting guidance. In many cases, this involves the use of discounted cash flow models that are not based on observable market data from independent sources (Level 3 of the fair value hierarchy under the accounting guidance). No significant charges for impairment of long-lived assets were recorded during fiscal years 2016 , 2015 , or 2014 .
Income Tax, Policy [Policy Text Block]	Income Taxes The Company provides deferred income taxes on temporary differences between the book and tax basis of its assets and liabilities. Those differences arise principally from employee benefit accruals, depreciation, deferred compensation, undistributed earnings of unconsolidated affiliates, undistributed earnings of foreign subsidiaries, goodwill, and valuation allowances on farmer advances and value-added tax credits.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Values of Financial Instruments The fair value of the Company’s long-term debt, disclosed in Note 6, approximates the carrying amount since the variable interest rates in the underlying credit agreement reflect the market interest rates that were available to the Company at March 31, 2016 . In periods when fixed-rate obligations are outstanding, fair values are estimated using market prices where they are available and discounted cash flow models based on current incremental borrowing rates for similar classes of borrowers and borrowing arrangements. The fair values of interest rate swap agreements designated as cash flow hedges and used to fix the variable benchmark rate on outstanding long-term debt are determined separately and recorded in other long-term liabilities. Except for interest rate swaps and forward foreign currency exchange contracts that are discussed below, the fair values of all other assets and liabilities that qualify as financial instruments approximate their carrying amounts.
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments The Company recognizes all derivatives on the balance sheet at fair value. Interest rate swaps and forward foreign currency exchange contracts are used from time to time to manage interest rate risk and foreign currency risk. The Company enters into such contracts only with counterparties of good standing. The credit exposure related to non-performance by the counterparties and the Company is considered in determining the fair values of the derivatives, and the effect has not been material to the financial statements or operations of the Company. Additional disclosures related to the Company’s derivatives and hedging activities are provided in Note 8.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Translation and Remeasurement of Foreign Currencies The financial statements of foreign subsidiaries having the local currency as the functional currency are translated into U.S. dollars using exchange rates in effect at period end for assets and liabilities and average exchange rates applicable to each reporting period for results of operations. Adjustments resulting from translation of financial statements are reflected as a separate component of other comprehensive income or loss. The financial statements of foreign subsidiaries having the U.S. dollar as the functional currency, with certain transactions denominated in a local currency, are remeasured into U.S. dollars. The remeasurement of local currency amounts into U.S. dollars creates remeasurement gains and losses that are included in earnings as a component of selling, general, and administrative expense. The Company recognized net remeasurement losses of $22.5 million in fiscal year 2016 , $28.8 million in fiscal year 2015 , and $14.3 million in fiscal year 2014 . Foreign currency transactions and forward foreign currency exchange contracts that are not designated as hedges generate gains and losses when they are settled or when they are marked to market under the prescribed accounting guidance. These transaction gains and losses are also included in earnings as a component of selling, general, and administrative expenses. The Company recognized net foreign currency transaction gains of $8.0 million in fiscal year 2016 , net transaction gains of $17.7 million in fiscal year 2015 , and net transaction losses of $6.0 million in fiscal year 2014 .
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenue from the sale of tobacco is recognized when title and risk of loss is transferred to the customer and the earnings process is complete. Substantially all sales revenue is recorded based on the physical transfer of products to customers. A large percentage of the Company’s sales are to major multinational manufacturers of consumer tobacco products. The Company works closely with those customers to understand and plan for their requirements for volumes, styles, and grades of leaf tobacco from its various growing regions, and extensive coordination is maintained on an ongoing basis to determine and satisfy their requirements for physical shipment of processed tobacco. In most cases, customers request shipment within a relatively short period of time after the tobacco is processed and packed. The customers also specify, in sales contracts and in shipping documents, the precise terms for transfer of title and risk of loss for the tobacco. Customer returns and rejections are not significant, and the Company’s sales history indicates that customer-specific acceptance provisions are consistently met upon transfer of title and risk of loss. While most of the Company’s revenue consists of tobacco that is purchased from farmers, processed and packed in its factories, and then sold to customers, some revenue is earned from processing tobacco owned by customers. These arrangements usually exist in specific markets where the customers contract directly with farmers for leaf production, and they have accounted for less than 5% of total revenue on an annual basis through the fiscal year ended March 31, 2016 . Processing and packing of leaf tobacco is a short-duration process. Under normal operating conditions, raw tobacco that is placed into the production line exits as processed and packed tobacco within one hour, and is then transported to customer-designated storage facilities. The revenue for these services is recognized when processing is completed, and the Company’s operating history indicates that customer requirements for processed tobacco are consistently met upon completion of processing.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation Share-based payments, such as grants of stock options, stock appreciation rights, restricted stock, restricted stock units, and performance share awards, are measured at fair value and reported as expense in the financial statements over the requisite service period. Additional disclosures related to stock-based compensation are included in Note 12.
Use of Estimates, Policy [Policy Text Block]	Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Accounting Pronouncements [Policy Text Block]	Accounting Pronouncements Pronouncements Recently Adopted In November 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-17, "Balance Sheet Classification of Deferred Taxes" ("ASU 2015-17"). ASU 2015-17 eliminates the current requirement for an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified balance sheet. ASU 2015-17 requires that deferred tax liabilities, deferred tax assets, and valuation allowances be classified as noncurrent in a classified balance sheet. Early adoption of ASU 2015-17 is permitted, and the Company made the required balance sheet presentation change effective for March 31, 2016 and all prior comparative periods. Pronouncements to be Adopted in Future Periods In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which supersedes substantially all of the current revenue recognition guidance under U.S. generally accepted accounting principles (“U.S. GAAP”). ASU 2014-09 was developed under a joint project with the International Accounting Standards Board (“IASB”) to improve and converge the existing revenue recognition accounting guidance in U.S. GAAP and International Accounting Standards. Under ASU 2014-09, the central underlying principle is to recognize revenues when promised goods or services are transferred to customers at an amount determined by the consideration a company expects to receive for those goods or services. The guidance outlines a five-step process for determining the amount and timing of revenue to be recognized from those arrangements. It is more principles-based than the existing guidance under U.S. GAAP, and therefore is expected to require more management judgment and involve more estimates than the current guidance. ASU 2014-09 is effective for annual periods beginning after December 15, 2017, including all interim periods within the year of adoption. Companies are allowed to select between two transition methods: (1) a full retrospective transition method with the application of the new guidance to each prior reporting period presented, or (2) a retrospective transition method that recognizes the cumulative effect on prior periods at the date of adoption together with additional footnote disclosures. Since the issuance of ASU 2014-09, the FASB has issued several amendments to provide additional supplemental guidance on certain aspects of the original pronouncement. Universal expects to adopt ASU 2014-09 and the related supplemental amendments effective April 1, 2018, which is the beginning of the fiscal year ending March 31, 2019. The Company is currently evaluating the impact that the adoption of ASU 2014-09 and the related amendments will have on its consolidated financial statements and has not made a decision on the method of adoption. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years beginning after December 31, 2015. The Company will make the required balance sheet presentation change upon adoption of ASU 2015-03 effective for the quarter ending June 30, 2016, which is the first quarter of the fiscal year ending March 31, 2017. In July 2015, the FASB issued Accounting Standards Update No. 2015-11, “Simplifying the Measurement of Inventory” (“ASU 2015-11”). ASU 2015-11 requires that most inventory be measured at the lower of cost or net realizable value. ASU 2015-11 defines net realizable value as the "estimated selling price in the ordinary course of business, less reasonable predictable costs of completion, disposal, and transportation." ASU 2015-11 is effective for fiscal years beginning after December 31, 2016. The Company is currently evaluating the impact that the adoption of ASU 2015-11 will have on its consolidated financial statements. ASU 2015-11 will be applied prospectively after the date of adoption, as required by the guidance. In January 2016, the FASB issued Accounting Standards Update No. 2016-01 “Financial Instruments-Recognition and Measurement of Financial Assets and Financial Liabilities” ("ASU 2016-01"). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). This guidance is effective for fiscal years beginning after December 15, 2017. The Company is currently evaluating the impact that the adoption of ASU 2016-01 will have on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 requires a lessee to recognize lease payment obligations as a lease liability and the corresponding right-of-use asset as a leased asset in the balance sheet for the term of the lease. This guidance supersedes Topic 840 “Leases” and is effective for fiscal years beginning after December 15, 2018. The Company will be required to adopt ASU 2016-02 effective April 1, 2019, which is the beginning of its fiscal year ending March 31, 2020, and is currently evaluating the impact that the updated guidance will have on its consolidated financial statements. In March, 2016, the FASB issued Accounting Standards Update No. 2016-09, "Compensation - Stock Compensation (Topic 718)" ("ASU 2016-09"). ASU 2016-09 provides simplification for the accounting for employee stock-based payment transactions, including the related income tax consequences, the classification of awards as either equity or liabilities, and the classification of transactions in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017. Early adoption of ASU 2016-09 is permitted, and the Company expects to adopt the new guidance effective April 1, 2016, which is the beginning of its fiscal year ending March 31, 2017. The adoption of ASU 2016-09 is not expected to have a material impact on the Company's consolidated financial statements.
Reclassifications [Policy Text Block]	Reclassifications Certain prior year amounts have been reclassified to conform to the current year’s presentation.

Nature Of Operations And Sign27

Nature Of Operations And Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Reconciliation Of Equity In Unconsolidated Affiliates	The following table provides a reconciliation of (1) equity in the pretax earnings of unconsolidated affiliates, as reported in the consolidated statements of income to (2) equity in the net income of unconsolidated affiliates, net of dividends, as reported in the consolidated statements of cash flows for the fiscal years ended March 31, 2016 , 2015 , and 2014 : Fiscal Year Ended March 31, 2016 2015 2014 Equity in pretax earnings reported in the consolidated statements of income $ 5,422 $ 7,137 $ 3,897 Less: Equity in income taxes (2,156 ) (834 ) (809 ) Equity in net income 3,266 6,303 3,088 Less: Dividends received on investments (1) (3,422 ) (5,228 ) (6,508 ) Equity in net income, net of dividends, reported in the consolidated statements of cash flows $ (156 ) $ 1,075 $ (3,420 ) (1) In accordance with the applicable accounting guidance, dividends received from unconsolidated affiliates accounted for on the equity method that represent a return on capital (i.e., a return of earnings on a cumulative basis) are presented as operating cash flows in the consolidated statements of cash flows.

Restructuring Costs (Tables)

Restructuring Costs (Tables)	12 Months Ended
	Mar. 31, 2016
Restructuring Costs [Abstract]
Cumulative Restructuring Costs	A summary of the restructuring and impairment costs incurred during the fiscal years ended March 31, 2016 , 2015 , and 2014 , is as follows: Fiscal Years Ended March 31, 2016 2015 2014 Restructuring Costs: Employee termination benefits $ 1,629 $ 4,354 $ 3,743 Other restructuring costs 96 536 3,003 1,725 4,890 6,746 Impairment Costs: Farmer loans and property and equipment 664 — — Total restructuring and impairment costs $ 2,389 $ 4,890 $ 6,746
Reconciliation Of Company's Liability For The Restructuring Costs	A reconciliation of the Company’s liability for employee termination benefits and other restructuring costs for fiscal years 2014 through 2016 is as follows: Employee Termination Benefits Other Costs Total Balance at April 1, 2013 $ 382 $ — $ 382 Fiscal Year 2014 Activity: Costs charged to expense 3,743 3,003 6,746 Payments (2,099 ) (2,843 ) (4,942 ) Balance at March 31, 2014 2,026 160 2,186 Fiscal Year 2015 Activity: Costs charged to expense 4,354 536 4,890 Payments (5,684 ) (498 ) (6,182 ) Balance at March 31, 2015 696 198 894 Fiscal Year 2016 Activity: Costs charged to expense 1,629 96 1,725 Payments (2,246 ) (92 ) (2,338 ) Balance at March 31, 2016 $ 79 $ 202 $ 281

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Earnings (Loss) Per Share	The following table sets forth the computation of basic and diluted earnings per share: Fiscal Year Ended March 31, (in thousands, except share and per share data) 2016 2015 2014 Basic Earnings Per Share Numerator for basic earnings per share Net income attributable to Universal Corporation $ 109,016 $ 114,608 $ 149,009 Less: Dividends on convertible perpetual preferred stock (14,748 ) (14,824 ) (14,850 ) Less: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock — (36 ) — Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share 94,268 99,748 134,159 Denominator for basic earnings per share Weighted average shares outstanding 22,683,290 23,035,920 23,238,978 Basic earnings per share $ 4.16 $ 4.33 $ 5.77 Diluted Earnings Per Share Numerator for diluted earnings per share Earnings available to Universal Corporation common shareholders $ 94,268 $ 99,748 $ 134,159 Add: Dividends on convertible perpetual preferred stock (if conversion assumed) 14,748 14,824 14,850 Add: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock — 36 — Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share 109,016 114,608 149,009 Denominator for diluted earnings per share Weighted average shares outstanding 22,683,290 23,035,920 23,238,978 Effect of dilutive securities (if conversion or exercise assumed) Convertible perpetual preferred stock 4,853,268 4,843,309 4,821,557 Employee share-based awards 288,933 342,035 331,498 Denominator for diluted earnings per share 27,825,491 28,221,264 28,392,033 Diluted earnings per share $ 3.92 $ 4.06 $ 5.25
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	For the fiscal years ended March 31, 2016 , 2015 , and 2014 , the Company had the following potentially dilutive securities (stock appreciation rights) outstanding that were not included in the computation of diluted earnings per share because their effect would have been antidilutive: Fiscal Year Ended March 31, 2016 2015 2014 Potentially dilutive securities 133,600 156,200 169,000 Weighted-average exercise price $ 62.66 $ 61.83 $ 62.66

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule Of Components of Income Tax Expense	Income taxes for the fiscal years ended March 31, 2016 , 2015 , and 2014 consisted of the following: Fiscal Year Ended March 31, 2016 2015 2014 Current United States $ 5,371 $ 4,126 $ 1,433 State and local 1,116 657 507 Foreign 32,897 46,885 75,770 39,384 51,668 77,710 Deferred United States 5,780 3,352 1,686 State and local (445 ) 159 275 Foreign 9,711 (17,173 ) (4,136 ) 15,046 (13,662 ) (2,175 ) Total $ 54,430 $ 38,006 $ 75,535
Schedule Of Effective Income Tax Rate Reconciliation	A reconciliation of the statutory U.S. federal rate to the Company’s effective income tax rate is as follows: Fiscal Year Ended March 31, 2016 2015 2014 Statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 0.3 0.3 0.2 Dividends received from deconsolidated operations (1.5 ) (1.3 ) (0.9 ) Effect of exchange rate changes on deferred income taxes (1.6 ) (4.9 ) (1.0 ) Tax benefit arising from payment of a portion of a fine by a subsidiary — (5.0 ) — Other, including changes in liabilities recorded for uncertain tax positions (0.7 ) (0.1 ) (0.6 ) Effective income tax rate 31.5 % 24.0 % 32.7 %
Schedule Of U.S. And Foreign Components Of Income Before Income Taxes And Other Items	The U.S. and foreign components of income before income taxes were as follows: Fiscal Year Ended March 31, 2016 2015 2014 United States $ 37,877 $ 27,181 $ 9,156 Foreign 134,701 131,286 221,534 Total $ 172,578 $ 158,467 $ 230,690
Schedule Of Deferred Tax Assets and Liabilities	Significant components of deferred tax liabilities and assets were as follows: March 31, 2016 2015 Liabilities Foreign withholding taxes $ 39,770 $ 34,339 Undistributed earnings 19,553 14,510 Goodwill 30,851 30,851 All other 10,424 8,922 Total deferred tax liabilities $ 100,598 $ 88,622 Assets Employee benefit plans $ 43,362 $ 50,977 Reserves and accruals 12,911 14,039 Deferred income 3,938 5,387 Currency translation losses of foreign subsidiaries 9,939 12,167 Local currency exchange losses of foreign subsidiaries 3,597 10,674 Foreign tax credit carryforward 4,664 — All other 16,546 9,607 Total deferred tax assets 94,957 102,851 Valuation allowance — (629 ) Net deferred tax assets $ 94,957 $ 102,222
Schedule Of Combined Income Tax Expense (Benefit) Allocable To Continuing Operations, Other Comprehensive Income, And Adjustments To Shareholders' Equity	The combined income tax expense (benefit) allocable to continuing operations, other comprehensive income, and direct adjustments to shareholders' equity was as follows: Fiscal Year Ended March 31, 2016 2015 2014 Continuing operations $ 54,430 $ 38,006 $ 75,535 Other comprehensive income 1,423 (21,900 ) 22,190 Direct adjustments to shareholders' equity (805 ) (932 ) (972 ) Total $ 55,048 $ 15,174 $ 96,753
Reconciliation Of The Gross Liability For Uncertain Tax Positions	A reconciliation of the beginning and ending balance of the gross liability for uncertain tax positions for the fiscal years ended March 31, 2016 , 2015 and 2014 , is as follows: Fiscal Year Ended March 31, 2016 2015 2014 Liability for uncertain tax positions, beginning of year $ 2,894 $ 3,809 $ 5,385 Additions: Related to tax positions for the current year 98 272 194 Related to tax positions for prior years — — 168 Reductions: Due to lapses of statutes of limitations (215 ) (478 ) (1,776 ) Related to tax positions for prior years — (143 ) — Effect of currency rate movement (370 ) (566 ) (162 ) Liability for uncertain tax positions, end of year $ 2,407 $ 2,894 $ 3,809

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	The Company's long-term debt at March 31, 2016 and 2015 consisted of the following: March 31, 2016 2015 Senior bank term loans $ 370,000 $ 370,000 Total outstanding 370,000 370,000 Less: current portion — — Long-term debt $ 370,000 $ 370,000

Derivatives And Hedging Activ32

Derivatives And Hedging Activities (Tables)	12 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amount of Forward Contracts	The aggregate U.S. dollar notional amount of forward contracts entered for these purposes during fiscal years 2016 , 2015 , and 2014 was as follows: Fiscal Year Ended March 31, (in millions) 2016 2015 2014 Tobacco purchases $ 43.1 $ 105.6 $ 126.1 Processing costs 13.2 22.9 26.8 Total $ 56.3 $ 128.5 $ 152.9
Effect Of Derivative Financial Instruments On The Consolidated Statements Of Income	The table below outlines the effects of the Company’s use of derivative financial instruments on the consolidated statements of income for the fiscal years ended March 31, 2016 , 2015 , and 2014 . Fiscal Year Ended March 31, 2016 2015 2014 Cash Flow Hedges - Interest Rate Swap Agreements Derivative Effective Portion of Hedge Gain (loss) recorded in accumulated other comprehensive loss $ (12,824 ) $ (4,044 ) $ (142 ) Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ (5,108 ) $ (1,929 ) $ (886 ) Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings Interest expense Ineffective Portion of Hedge Gain (loss) recognized in earnings $ — $ — $ — Location of gain (loss) recognized in earnings Selling, general and administrative expenses Hedged Item Description of hedged item Floating rate interest payments on term loans Cash Flow Hedges - Forward Foreign Currency Exchange Contracts Derivative Effective Portion of Hedge Gain (loss) recorded in accumulated other comprehensive loss $ 1,774 $ 1,410 $ (1,635 ) Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ 993 $ 3,099 $ (3,844 ) Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings Cost of goods sold Ineffective Portion and Early De-designation of Hedges Gain (loss) recognized in earnings $ 685 $ 257 $ (1,839 ) Location of gain (loss) recognized in earnings Selling, general and administrative expenses Hedged Item Description of hedged item Forecast purchases of tobacco in Brazil Derivatives Not Designated as Hedges - Forward Foreign Currency Exchange Contracts Gain (loss) recognized in earnings $ 5,973 $ 13,178 $ (6,609 ) Location of gain (loss) recognized in earnings Selling, general and administrative expenses
Effect Of Derivative Financial Instruments On The Consolidated Balance Sheets	The table below outlines the effects of the Company’s derivative financial instruments on the consolidated balance sheets at March 31, 2016 and 2015 : Derivatives in a Fair Value Asset Position Derivatives in a Fair Value Liability Position Balance Sheet Location Fair Value as of March 31, Balance Sheet Location Fair Value as of March 31, 2016 2015 2016 2015 Derivatives Designated as Hedging Instruments Interest rate swap agreements Other non-current assets $ — $ — Other long-term liabilities $ 10,766 $ 3,050 Forward foreign currency exchange contracts Other current assets 475 106 Accounts payable and accrued expenses — 396 Total $ 475 $ 106 $ 10,766 $ 3,446 Derivatives Not Designated as Hedging Instruments Forward foreign currency exchange contracts Other current assets $ 297 $ 5,148 Accounts payable and accrued expenses $ 5 $ 183 Total $ 297 $ 5,148 $ 5 $ 183 Substantially all of the Company's forward foreign currency exchange contracts are subject to master netting arrangements, whereby the right to offset occurs in the event of default by a participating party. The Company has elected to present these contracts on a gross basis in the consolidated balance sheets.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis	At March 31, 2016 and 2015 , the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy: March 31, 2016 Level 1 Level 2 Level 3 Total Assets Money market funds $ — $ 116,618 $ — $ 116,618 Trading securities associated with deferred compensation plans 17,817 — — 17,817 Forward foreign currency exchange contracts — 772 — 772 Total financial assets measured and reported at fair value $ 17,817 $ 117,390 $ — $ 135,207 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ 1,628 $ 1,628 Interest rate swap agreements — 10,766 — 10,766 Forward foreign currency exchange contracts — 5 — 5 Total financial liabilities measured and reported at fair value $ — $ 10,771 $ 1,628 $ 12,399 March 31, 2015 Level 1 Level 2 Level 3 Total Assets Money market funds $ — $ 86,552 $ — $ 86,552 Trading securities associated with deferred compensation plans 20,692 — — 20,692 Forward foreign currency exchange contracts — 5,254 — 5,254 Total financial assets measured and reported at fair value $ 20,692 $ 91,806 $ — $ 112,498 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ 1,695 $ 1,695 Interest rate swap agreements — 3,050 — 3,050 Forward foreign currency exchange contracts — 579 — 579 Total financial liabilities measured and reported at fair value $ — $ 3,629 $ 1,695 $ 5,324
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	A reconciliation of the change in the balance of the financial liability for guarantees of bank loans to tobacco growers (Level 3) for the fiscal years ended March 31, 2016 and 2015 is provided below. Fiscal Year Ended March 31, 2016 2015 Balance at beginning of year $ 1,674 $ 2,270 Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio) (1,826 ) (2,392 ) Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans) 1,834 2,320 Change in discount rate and estimated collection period 106 130 Currency remeasurement (160 ) (654 ) Balance at end of year $ 1,628 $ 1,674

Pension And Other Postretirem34

Pension And Other Postretirement Benefit Plans (Tables)	12 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Assumptions Used To Compute Net Periodic Benefit Cost And Benefit Obligations	Assumptions used for financial reporting purposes to compute net periodic benefit cost and benefit obligations for the Company's primary defined benefit plans were as follows: Pension Benefits Other Postretirement Benefits 2016 2015 2014 2016 2015 2014 Discount rates: Benefit cost for plan year 3.80 % 4.50 % 4.20 % 3.70 % 4.30 % 3.90 % Benefit obligation at end of plan year 4.10 % 3.80 % 4.50 % 3.80 % 3.70 % 4.30 % Expected long-term return on plan assets: Benefit cost for plan year 7.25 % 7.75 % 8.00 % 3.00 % 4.30 % 4.30 % Benefit obligation at end of plan year 7.00 % 7.25 % 7.75 % 3.00 % 3.00 % 4.30 % Salary scale: Benefit cost for plan year 4.50 % 4.50 % 5.00 % 4.50 % 4.50 % 5.00 % Benefit obligation at end of plan year 4.00 % 4.50 % 4.50 % 4.00 % 4.50 % 4.50 % Healthcare cost trend rate N/A N/A N/A 7.00 % 7.20 % 7.40 %
Benefit Obligations, Plan Assets, And Funded Status	The following table reflects the changes in benefit obligations and plan assets in 2016 and 2015 , as well as the funded status of the plans at March 31, 2016 and 2015 : Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 Actuarial present value of benefit obligation: Accumulated benefit obligation $ 273,479 $ 287,133 Projected benefit obligation 275,505 288,908 $ 37,225 $ 40,863 Change in projected benefit obligation: Projected benefit obligation, beginning of year $ 288,908 $ 259,928 $ 40,863 $ 41,846 Service cost 5,953 5,099 286 347 Interest cost 10,037 11,215 1,539 1,699 Effect of discount rate change (10,036 ) 30,744 (402 ) 2,669 Foreign currency exchange rate changes 330 (6,033 ) (215 ) (444 ) Curtailment — — — (1,465 ) Other (486 ) 2,879 (1,104 ) (788 ) Benefit payments (19,201 ) (14,924 ) (3,742 ) (3,001 ) Projected benefit obligation, end of year $ 275,505 $ 288,908 $ 37,225 $ 40,863 Change in plan assets: Plan assets at fair value, beginning of year $ 224,553 $ 213,282 $ 2,115 $ 2,535 Actual return on plan assets 61 23,486 69 73 Employer contributions 12,504 8,063 3,123 2,508 Foreign currency exchange rate changes (58 ) (5,354 ) — — Benefit payments (19,201 ) (14,924 ) (3,742 ) (3,001 ) Plan assets at fair value, end of year $ 217,859 $ 224,553 $ 1,565 $ 2,115 Funded status: Funded status of the plans, end of year $ (57,646 ) $ (64,355 ) $ (35,660 ) $ (38,748 )
Funded Status In Consolidated Balance Sheets	The funded status of the Company’s plans at the end of fiscal years 2016 and 2015 was reported in the consolidated balance sheets as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 Non-current asset (included in other noncurrent assets) $ 2,044 $ 1,900 $ — $ — Current liability (included in accounts payable and accrued expenses) (630 ) (5,458 ) (2,543 ) (2,497 ) Non-current liability (reported as pensions and other postretirement benefits) (59,060 ) (60,797 ) (33,117 ) (36,251 ) Amounts recognized in the consolidated balance sheets $ (57,646 ) $ (64,355 ) $ (35,660 ) $ (38,748 )
Additional Information On Funded Status	Additional information on the funded status of the Company’s plans as of the respective measurement dates for the fiscal years ended March 31, 2016 and 2015 , is as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 For plans with a projected benefit obligation in excess of plan assets: Aggregate projected benefit obligation (PBO) $ 270,058 $ 283,070 $ 37,225 $ 40,863 Aggregate fair value of plan assets 210,368 216,815 1,565 2,115 For plans with an accumulated benefit obligation in excess of plan assets: Aggregate accumulated benefit obligation (ABO) 268,087 281,354 N/A N/A Aggregate fair value of plan assets 210,368 216,815 N/A N/A
Components Of Company's Net Periodic Benefit Cost	The components of the Company’s net periodic benefit cost were as follows: Pension Benefits Other Postretirement Benefits Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2016 2015 2014 2016 2015 2014 Components of net periodic benefit cost: Service cost $ 5,953 $ 5,099 $ 5,190 $ 286 $ 347 $ 527 Interest cost 10,037 11,215 12,223 1,539 1,699 2,106 Expected return on plan assets (15,110 ) (15,493 ) (14,218 ) (58 ) (102 ) (119 ) Curtailment gain — — — — (1,465 ) — Settlement cost — — 1,094 — — — Net amortization and deferral 4,394 6,169 6,779 (431 ) (671 ) (5 ) Net periodic benefit cost $ 5,274 $ 6,990 $ 11,068 $ 1,336 $ (192 ) $ 2,509
Recognized In Accumulated Other Comprehensive Income (Loss) On Pretax Basis	The amounts recognized in other comprehensive income or loss for fiscal years 2016 and 2015 and the amounts included in accumulated other comprehensive loss at the end of those fiscal years are shown below. All amounts shown are before allocated income taxes. Pension Benefits Other Postretirement Benefits March 31, March 31, 2016 2015 2016 2015 Change in net actuarial loss (gain): Net actuarial loss (gain), beginning of year $ 81,544 $ 70,488 $ (6,402 ) $ (9,952 ) Losses (gains) arising during the year 4,787 23,353 (1,263 ) 2,879 Amortization included in net periodic benefit cost during the year (7,032 ) (12,297 ) 431 671 Net actuarial loss (gain), end of year 79,299 81,544 (7,234 ) (6,402 ) Change in prior service cost (benefit): Prior service cost (benefit), beginning of year (17,630 ) (22,998 ) — — Prior service cost (benefit) arising during the year 111 (675 ) (108 ) — Amortization included in net periodic benefit cost during the year 2,458 6,043 — — Prior service cost (benefit), end of year (15,061 ) (17,630 ) (108 ) — Total amounts in accumulated other comprehensive loss at end of year, before income taxes $ 64,238 $ 63,914 $ (7,342 ) $ (6,402 )
Weighted-Average Target Pension Asset Allocation And Target Ranges By Major Asset Category	The weighted–average target pension asset allocation and target ranges at the March 31, 2016 measurement date and the actual asset allocations at the March 31, 2016 and 2015 measurement dates by major asset category were as follows: Actual Allocation Target Allocation March 31, Major Asset Category Range 2016 2015 Equity securities 26.0 % 16 % - 36% 22.4 % 25.3 % Fixed income securities (1) 69.0 % 59 % - 79% 71.5 % 69.1 % Alternative investments 5.0 % 0 % - 10% 6.1 % 5.6 % Total 100.0 % 100.0 % 100.0 %
Estimated Future Benefit Payments	Estimated future benefit payments to be made from the Company’s plans are as follows: Fiscal Year Pension Benefits Other Postretirement Benefits 2017 $ 14,305 $ 2,944 2018 17,223 2,854 2019 22,358 2,874 2020 16,271 2,832 2021 16,799 2,807 2022 - 2026 90,913 12,915
Fair Values Of The Assets Under Fair Value Hierarchy	Fair values of the assets of the Company’s pension plans as of March 31, 2016 and 2015 , classified based on how their values were determined under the fair value hierarchy are as follows: March 31, 2016 Level 1 Level 2 Level 3 Total Equity securities $ 43,807 $ — $ — $ 43,807 Fixed income securities (1) 141,218 7,491 13,382 162,091 Alternative investments — — 11,961 11,961 Total investments $ 185,025 $ 7,491 $ 25,343 $ 217,859 March 31, 2015 Level 1 Level 2 Level 3 Total Equity securities $ 51,300 $ — $ — $ 51,300 Fixed income securities (1) 141,655 7,738 12,424 161,817 Alternative investments — — 11,436 11,436 Total investments $ 192,955 $ 7,738 $ 23,860 $ 224,553

Common And Preferred Stock Comm

Common And Preferred Stock Common and Preferred Stock (Tables)	12 Months Ended
	Mar. 31, 2016
Schedule of Repurchases of Shares [Abstract]
Schedule Of Repurchases Of Shares [Table Text Block]	Share repurchases under the programs for the fiscal years ended March 31, 2016 , 2015 , and 2014 were as follows: Fiscal Year Ended March 31, 2016 2015 2014 Common Stock Number of shares repurchased — 719,993 238,486 Cost of shares repurchased (in thousands of dollars) $ — $ 31,227 $ 14,145 Weighted-average cost per share $ — $ 43.37 $ 59.31 Series B 6.75% Convertible Perpetual Preferred Stock Number of shares repurchased — 1,509 — Cost of shares repurchased (in thousands of dollars) $ — $ 1,497 $ — Weighted-average cost per share $ — $ 992.27 $ —

Executive Stock Plans And Sto36

Executive Stock Plans And Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary Of Stock Option And SAR Activity	The following tables summarize the Company’s stock option and SAR activity and related information for fiscal years 2014 through 2016 : Shares Weighted-Average Exercise Price Weighted-Average Contractual Term (in years) Aggregate Intrinsic Value Fiscal Year Ended March 31, 2014: Outstanding at beginning of year 418,477 $ 50.07 Exercised (161,137 ) 42.48 Outstanding at end of year 257,340 54.83 Fiscal Year Ended March 31, 2015: Exercised (63,539 ) 38.50 Cancelled/expired (24,200 ) 62.66 Outstanding at end of year 169,601 59.82 Fiscal Year Ended March 31, 2016: Exercised (6,200 ) 51.32 Cancelled/expired (11,200 ) 62.66 Outstanding at end of year 152,201 $ 59.96 1.14 $ 302
Intrinsic Value And Fair Value Of SARs	Fiscal Year Ended March 31, 2016 2015 2014 Total intrinsic value of stock options and SARs exercised $ 26 $ 1,091 $ 2,816 Total fair value of SARs vested $ — $ 375 $ 769
Summary Of RSU, Restricted Stock, And PSA Activity	The following table summarizes the Company’s RSU, restricted stock, and PSA activity for fiscal years 2014 through 2016 : RSUs Restricted Stock PSAs Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Grant Date Fair Value Fiscal Year Ended March 31, 2014: Unvested at beginning of year 292,134 $ 41.23 59,850 $ 41.68 135,017 $ 35.12 Granted 70,092 57.79 — — 52,400 53.56 Vested (69,046 ) 44.89 (11,750 ) 39.02 (32,464 ) 33.95 Forfeited — — — — (5,566 ) 37.45 Unvested at end of year 293,180 44.33 48,100 42.33 149,387 41.76 Fiscal Year Ended March 31, 2015: Granted 94,539 51.86 — — 57,580 46.41 Vested (123,322 ) 42.02 — — (50,092 ) 31.95 Forfeited — — — — (3,400 ) 53.56 Unvested at end of year 264,397 48.10 48,100 42.33 153,475 45.58 Fiscal Year Ended March 31, 2016: Granted 80,932 51.62 — — 86,212 45.06 Vested (42,384 ) 41.64 — — (85,387 ) 38.14 Unvested at end of year 302,945 $ 49.95 48,100 $ 42.33 154,300 $ 48.13
Stock-Based Compensation Expense And Related Income Tax Benefit Recognized	For the fiscal years ended March 31, 2016 , 2015 , and 2014 , total stock-based compensation expense and the related income tax benefit recognized were as follows: Fiscal Year Ended March 31, 2016 2015 2014 Total stock-based compensation expense $ 5,206 $ 6,230 $ 6,278 Income tax benefit recorded on stock-based compensation expense $ 1,822 $ 2,181 $ 2,197

Commitments And Other Matters (

Commitments And Other Matters (Tables)	12 Months Ended
	Mar. 31, 2016
Commitments And Other Matters [Abstract]
Schedule Of Accounts Receivable By Reportable Operating Segment	At March 31, 2016 and 2015 , net accounts receivable by reportable operating segment were as follows: March 31, 2016 2015 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 85,985 $ 38,046 Other Regions 303,932 350,122 Subtotal 389,917 388,168 Other Tobacco Operations 38,742 46,194 Consolidated accounts receivable, net $ 428,659 $ 434,362

Operating Segments (Tables)

Operating Segments (Tables)	12 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Operating Results For The Company's Reportable Segments	Reportable segment data as of, or for, the fiscal years ended March 31, 2016 , 2015 , and 2014 , is as follows: Sales and Other Operating Revenues Operating Income Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2016 2015 2014 2016 2015 2014 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 361,827 $ 305,028 $ 348,627 $ 31,147 $ 31,060 $ 23,217 Other Regions (1) 1,538,971 1,739,781 1,932,228 143,596 125,839 133,447 Subtotal 1,900,798 2,044,809 2,280,855 174,743 156,899 156,664 Other Tobacco Operations (2) 219,575 226,992 261,260 11,325 10,326 18,511 Segment total 2,120,373 2,271,801 2,542,115 186,068 167,225 175,175 Deduct: Equity in pretax earnings of unconsolidated affiliates (3) (5,422 ) (7,137 ) (3,897 ) Restructuring and impairment costs (4) (2,389 ) (4,890 ) (6,746 ) Add: Other income (5) 3,390 12,676 81,619 Consolidated total $ 2,120,373 $ 2,271,801 $ 2,542,115 $ 181,647 $ 167,874 $ 246,151 Segment Assets Goodwill March 31, March 31, 2016 2015 2014 2016 2015 2014 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 364,271 $ 281,757 $ 272,161 $ — $ — $ — Other Regions (1) 1,549,758 1,609,393 1,676,507 97,318 97,372 97,367 Subtotal 1,914,029 1,891,150 1,948,668 97,318 97,372 97,367 Other Tobacco Operations (2) 318,768 297,299 316,225 1,713 1,713 1,713 Segment and consolidated totals $ 2,232,797 $ 2,188,449 $ 2,264,893 $ 99,031 $ 99,085 $ 99,080 Depreciation and Amortization Capital Expenditures Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2016 2015 2014 2016 2015 2014 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 4,314 $ 4,284 $ 6,018 $ 2,282 $ 5,814 $ 2,676 Other Regions (1) 29,187 28,827 29,044 25,122 39,303 37,584 Subtotal 33,501 33,111 35,062 27,404 45,117 40,260 Other Tobacco Operations (2) 4,143 4,213 3,837 19,749 13,268 5,589 Segment and consolidated totals $ 37,644 $ 37,324 $ 38,899 $ 47,153 $ 58,385 $ 45,849 (1) Includes South America, Africa, Europe, and Asia regions, as well as inter-region eliminations. (2) Includes Dark Air-Cured, Oriental, and Special Services, as well as inter-company eliminations. Sales and other operating revenues, goodwill, depreciation and amortization, and capital expenditures include limited amounts or no amounts for Oriental because the business is accounted for on the equity method and its financial results consist principally of equity in the pretax earnings of the unconsolidated affiliate. The investment in the unconsolidated affiliate is included in segment assets and was approximately $81.8 million , $74.9 million , and $93.3 million , at March 31, 2016 , 2015 , and 2014 , respectively. (3) Equity in pretax earnings of unconsolidated affiliates is included in segment operating income (Other Tobacco Operations segment), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income. (4) Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income (see Note 2). (5) Other income in fiscal year 2016 represents a gain from remeasuring to fair value the Company's original 50% ownership in Procesadora Unitab, S.A., a tobacco processing joint venture in Guatemala, upon acquiring the 50% interest held by the Company's joint venture partner (See Note 13). Other income represents the reversal of a valuation allowance on IPI excise tax credits in Brazil in fiscal year 2015 and the gain on the favorable outcome of the IPI tax credit case in fiscal year 2014 (see Note 13).
Schedule Of Sales And Long-Lived Assets By Country	Geographic Data Sales and Other Operating Revenues Fiscal Year Ended March 31, 2016 2015 2014 Belgium $ 371,580 $ 336,396 $ 289,206 United States 275,147 290,950 304,527 Germany 155,180 170,338 173,872 China 135,032 174,872 210,956 Netherlands 121,767 113,297 208,031 Russia 109,559 126,652 123,114 All other countries 952,108 1,059,296 1,232,409 Consolidated total $ 2,120,373 $ 2,271,801 $ 2,542,115 Long-Lived Assets March 31, 2016 2015 2014 United States $ 84,072 $ 70,929 $ 61,347 Brazil 133,727 135,980 135,359 Mozambique 53,069 55,733 49,543 All other countries 154,090 141,893 149,750 Consolidated total $ 424,958 $ 404,535 $ 395,999

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in the balances for each component of accumulated other comprehensive income (loss) attributable to the Company for the fiscal years ended March 31, 2016 , 2015 , and 2014 : Fiscal Year Ended March 31, (in thousands of dollars) 2016 2015 2014 Foreign currency translation: Balance at beginning of year $ (31,138 ) $ (8,476 ) $ (15,555 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on foreign currency translation (net of tax (expense) benefit of $(2,119), $12,181, and $(3,489)) 3,934 (22,625 ) 6,480 Less: Net loss (gain) on foreign currency translation attributable to noncontrolling interests 212 (37 ) 599 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 4,146 (22,662 ) 7,079 Balance at end of year $ (26,992 ) $ (31,138 ) $ (8,476 ) Foreign currency hedge: Balance at beginning of year $ (1,834 ) $ 769 $ (855 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(1,060), $2,304, and $(312)) 1,969 (4,280 ) 580 Reclassification of net loss to earnings (net of tax benefit of $(291), $(903), and $(563)) (1) 540 1,677 1,044 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 2,509 (2,603 ) 1,624 Balance at end of year $ 675 $ (1,834 ) $ 769 Interest rate hedge: Balance at beginning of year $ (1,982 ) $ (608 ) $ (1,091 ) Other comprehensive income (loss) attributable to Universal Corporation: Net loss on derivative instruments (net of tax benefit of $4,489, $1,416, and $49) (8,335 ) (2,628 ) (93 ) Reclassification of net loss to earnings (net of tax benefit of $(1,788), $(675), and $(310)) (2) 3,320 1,254 576 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes (5,015 ) (1,374 ) 483 Balance at end of year $ (6,997 ) $ (1,982 ) $ (608 ) Pension and other postretirement benefit plans: Balance at beginning of year $ (40,040 ) $ (26,017 ) $ (58,039 ) Other comprehensive income (loss) attributable to Universal Corporation: Gains (losses) arising during the year (net of tax (expense) benefit of $1,035, $9,719, and $(6,449)) (3) (1,921 ) (18,049 ) 11,977 Prior service credit arising during the year (net of tax expense of $7,751) (3) — — 14,394 Amortization included in earnings (net of tax benefit of $(1,576), $(2,163), and $(3,042)) (4) 2,925 4,026 5,651 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 1,004 (14,023 ) 32,022 Balance at end of year $ (39,036 ) $ (40,040 ) $ (26,017 ) Total accumulated other comprehensive income (loss) at end of year $ (72,350 ) $ (74,994 ) $ (34,332 ) (1) Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 8 for additional information. (2) Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the debt or upon termination of the interest rate swap agreements prior to their scheduled maturity dates. See Note 8 for additional information. (3) These items arise from the remeasurement of the assets and liabilities of the Company's defined benefit pension plans. Those remeasurements are made on an annual basis at the end of the fiscal year. In addition, the assets and liabilities of the Company's U.S.-based pension plans were also remeasured on an interim basis during the second quarter of fiscal year 2014 to reflect the effect of plan amendments adopted during the period. See Note 10 for additional information. (4) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10 for additional information.

Unaudited Quarterly Financial40

Unaudited Quarterly Financial Data (Tables)	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Ended March 31, 2016 Operating Results: Sales and other operating revenues $ 275,419 $ 456,382 $ 584,592 $ 803,980 Gross profit 48,389 98,094 119,906 140,942 Net income (loss) (6,125 ) 25,064 46,615 52,594 Net income (loss) attributable to Universal Corporation (5,947 ) 22,465 44,534 47,964 Earnings (loss) available to Universal Corporation common shareholders after dividends on convertible perpetual preferred stock (9,634 ) 18,778 40,847 44,277 Earnings (loss) per share attributable to Universal Corporation common shareholders: Basic (0.43 ) 0.83 1.80 1.95 Diluted (0.43 ) 0.81 1.60 1.72 Cash Dividends Declared: Per share of convertible perpetual preferred stock 16.88 16.87 16.88 16.87 Per share of common stock 0.52 0.52 0.53 0.53 Market Price Range of Common Stock: High 57.76 58.41 57.72 57.27 Low 46.80 46.98 49.70 51.49 Fiscal Year Ended March 31, 2015 Operating Results: Sales and other operating revenues $ 271,472 $ 464,116 $ 758,054 $ 778,159 Gross profit 55,540 85,071 147,572 122,091 Net income 525 15,484 58,077 46,375 Net income attributable to Universal Corporation 717 15,025 53,039 45,827 Earnings (loss) available to Universal Corporation common shareholders after dividends on convertible perpetual preferred stock (2,995 ) 11,312 49,309 42,122 Earnings (loss) per share attributable to Universal Corporation common shareholders: Basic (0.13 ) 0.49 2.13 1.86 Diluted (0.13 ) 0.48 1.87 1.64 Cash Dividends Declared: Per share of convertible perpetual preferred stock 16.88 16.87 16.88 16.87 Per share of common stock 0.51 0.51 0.52 0.52 Market Price Range of Common Stock: High 56.82 56.35 45.63 48.10 Low 52.16 44.39 38.53 39.27

Nature Of Operations And Sign41

Nature Of Operations And Significant Accounting Policies (Narrative) (Details)		12 Months Ended
		Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2014USD ($)
Nature Of Operations And Significant Accounting Policies [Line Items]
Number of countries in which entity operates		30
Dividends received on equity method investments	[1]	$ 3,422,000	$ 5,228,000	$ 6,508,000
Advances to suppliers, current and non-current		134,000,000	156,000,000
Valuation allowance amount related to advances to suppliers		29,000,000	35,000,000
Provision for loss on uncollectible advances to suppliers		800,000	3,700,000	5,500,000
Advances to suppliers on which interest has been discontinued		11,000,000	15,000,000
Aggregate balance of recoverable value added tax credits		52,000,000	60,000,000
Valuation allowance on recoverable value added tax credits		19,000,000	23,000,000
Interest costs capitalized		0	0	0
Amount charged for goodwill impairment		0	0	0
Impairment of property, plant and equipment		0	0	0
Foreign currency remeasurement gain (loss)		22,500,000	28,800,000	14,300,000
Foreign currency transaction gain (loss)		$ 8,000,000	17,700,000	$ (6,000,000)
Percentage of revenue earned from processing tobacco owned by customers		5.00%
Zimbabwe [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Investment in deconsolidated subsidiary		$ 0	$ 0
Net foreign currency translation loss		$ 7,200,000
Minimum [Member] | Buildings [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		15 years
Minimum [Member] | Processing And Packing Machinery [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		3 years
Minimum [Member] | Transport Equipment [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		3 years
Minimum [Member] | Computer Equipment [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		3 years
Maximum [Member] | Buildings [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		40 years
Maximum [Member] | Processing And Packing Machinery [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		11 years
Maximum [Member] | Transport Equipment [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		10 years
Maximum [Member] | Computer Equipment [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Estimated useful life		10 years
[1]	(1) In accordance with the applicable accounting guidance, dividends received from unconsolidated affiliates accounted for on the equity method that represent a return on capital (i.e., a return of earnings on a cumulative basis) are presented as operating cash flows in the consolidated statements of cash flows.

Nature Of Operations And Sign42

Nature Of Operations And Significant Accounting Policies (Reconciliation Of Equity In Unconsolidated Affiliates) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Equity in pretax earnings reported in the consolidated statements of income	[1]	$ 5,422	$ 7,137	$ 3,897
Less: Equity in income taxes		(2,156)	(834)	(809)
Equity in net income		3,266	6,303	3,088
Less: Dividends received on investments	[2]	3,422	5,228	6,508
Equity in net income, net of dividends, reported in the consolidated statements of cash flows		$ (156)	$ 1,075	$ (3,420)
[1]	Equity in pretax earnings of unconsolidated affiliates is included in segment operating income (Other Tobacco Operations segment), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income.
[2]	(1) In accordance with the applicable accounting guidance, dividends received from unconsolidated affiliates accounted for on the equity method that represent a return on capital (i.e., a return of earnings on a cumulative basis) are presented as operating cash flows in the consolidated statements of cash flows.

Restructuring Costs (Narrative)

Restructuring Costs (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment costs	$ 2,389	$ 4,890	$ 6,746
Facility Consolidation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment costs		$ 4,900	4,000
Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Voluntary early retirement benefits			$ 2,700

Restructuring Costs (Cumulative

Restructuring Costs (Cumulative Restructuring Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1,725	$ 4,890	$ 6,746
Restructuring and impairment costs	2,389	4,890	6,746
Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	1,629	4,354	3,743
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Other restructuring costs	96	536	3,003
Farmer loans and property and equipment	$ 664	$ 0	$ 0

Restructuring Costs (Reconcilia

Restructuring Costs (Reconciliation Of Company's Liability For The Restructuring Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1,725	$ 4,890	$ 6,746
Payments	(2,338)	(6,182)	(4,942)
Balance	281	894	2,186	$ 382
Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	1,629	4,354	3,743
Payments	(2,246)	(5,684)	(2,099)
Balance	79	696	2,026	382
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Other restructuring costs	96	536	3,003
Payments	(92)	(498)	(2,843)
Balance	$ 202	$ 198	$ 160	$ 0

Earnings Per Share (Computation

Earnings Per Share (Computation Of Basic And Diluted Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$ 47,964	$ 44,534	$ 22,465	$ (5,947)	$ 45,827	$ 53,039	$ 15,025	$ 717	$ 109,016	$ 114,608	$ 149,009
Less: Dividends on convertible perpetual preferred stock									(14,748)	(14,824)	(14,850)
Less: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock									0	36	0
Earnings available to Universal Corporation common shareholders	$ 44,277	$ 40,847	$ 18,778	$ (9,634)	$ 42,122	$ 49,309	$ 11,312	$ (2,995)	$ 94,268	$ 99,748	$ 134,159
Denominator for basic earnings per share
Weighted average shares outstanding									22,683,290	23,035,920	23,238,978
Basic earnings per share	$ 1.95	$ 1.80	$ 0.83	$ (0.43)	$ 1.86	$ 2.13	$ 0.49	$ (0.13)	$ 4.16	$ 4.33	$ 5.77
Numerator for diluted earnings per share
Earnings available to Universal Corporation common shareholders	$ 44,277	$ 40,847	$ 18,778	$ (9,634)	$ 42,122	$ 49,309	$ 11,312	$ (2,995)	$ 94,268	$ 99,748	$ 134,159
Add: Dividends on convertible perpetual preferred stock (if conversion assumed)									14,748	14,824	14,850
Add: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock									0	(36)	0
Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share									$ 109,016	$ 114,608	$ 149,009
Denominator for diluted earnings per share:
Weighted average shares outstanding									22,683,290	23,035,920	23,238,978
Effect of dilutive securities (if conversion or exercise assumed) Convertible perpetual preferred stock									4,853,268	4,843,309	4,821,557
Effect of dilutive securities (if conversion or exercise assumed) Employee share-based awards									288,933	342,035	331,498
Denominator for diluted earnings per share									27,825,491	28,221,264	28,392,033
Diluted earnings per share	$ 1.72	$ 1.60	$ 0.81	$ (0.43)	$ 1.64	$ 1.87	$ 0.48	$ (0.13)	$ 3.92	$ 4.06	$ 5.25

Earnings Per Share Schedule of

Earnings Per Share Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) (Details) shares in Thousands	12 Months Ended
	Mar. 31, 2016$ / sharesshares	Mar. 31, 2015$ / sharesshares	Mar. 31, 2014$ / sharesshares
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Potentially dilutive securities | shares	133,600	156,200	169,000
Weighted-average exercise price | $ / shares	62.66	61.83	62.66

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax [Line Items]
Continuing operations		$ 54,430	$ 38,006	$ 75,535
Fines Imposed By European Commission	$ 53,000
Tax benefit arising from payment of a portion of the European Commission Fine by a subsidiary		(0.00%)	5.00%	(0.00%)
Unrecognized tax benefits that would impact effective tax rate		$ 1,800
Liability where a significant change in unrecognized tax benefits is reasonably possible		$ 100
U.S. Federal [Member]
Income Tax [Line Items]
Open Tax Year		2,013
Minimum [Member] | State And Foreign Jurisdictions [Member]
Income Tax [Line Items]
Open tax years		3 years
Maximum [Member] | State And Foreign Jurisdictions [Member]
Income Tax [Line Items]
Open tax years		6 years
Deltafina [Member]
Income Tax [Line Items]
Continuing operations	8,000
Fines Imposed By European Commission	$ 30,000

Income Taxes (Schedule Of Compo

Income Taxes (Schedule Of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
United States, current	$ 5,371	$ 4,126	$ 1,433
State and local, current	1,116	657	507
Foreign, current	32,897	46,885	75,770
Total, current	39,384	51,668	77,710
United States, deferred	5,780	3,352	1,686
State and local, deferred	(445)	159	275
Foreign, deferred	9,711	(17,173)	(4,136)
Deferred income tax expense (benefit)	15,046	(13,662)	(2,175)
Total	$ 54,430	$ 38,006	$ 75,535

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Statutory tax rate	35.00%	35.00%	35.00%
State income taxes, net of federal benefit	0.30%	0.30%	0.20%
Dividends received from deconsolidated operations	(1.50%)	(1.30%)	(0.90%)
Remeasurement effect	(1.60%)	(4.90%)	(1.00%)
Tax benefit arising from payment of a portion of a fine by a subsidiary	0.00%	(5.00%)	0.00%
Other, including changes in liabilities recorded for uncertain tax positions	(0.70%)	(0.10%)	(0.60%)
Effective income tax rate	31.50%	24.00%	32.70%

Income Taxes (Schedule Of U.S.

Income Taxes (Schedule Of U.S. And Foreign Components Of Income Before Income Taxes And Other Items) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
United States	$ 37,877	$ 27,181	$ 9,156
Foreign	134,701	131,286	221,534
Total	$ 172,578	$ 158,467	$ 230,690

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Foreign withholding taxes	$ 39,770	$ 34,339
Undistributed earnings	19,553	14,510
Goodwill	30,851	30,851
All other	10,424	8,922
Total deferred tax liabilities	100,598	88,622
Employee benefit plans	43,362	50,977
Reserves and accruals	12,911	14,039
Deferred income	3,938	5,387
Currency translation losses of foreign subsidiaries	9,939	12,167
Local currency exchange losses of foreign subsidiaries	3,597	10,674
Foreign tax credit carryforward	4,664	0
All other	16,546	9,607
Total deferred tax assets	94,957	102,851
Valuation allowance	0	(629)
Net deferred tax assets	$ 94,957	$ 102,222

Income Taxes (Schedule Of Combi

Income Taxes (Schedule Of Combined Income Tax Expense (Benefit) Allocable To Continuing Operations, Other Comprehensive Income, And Adjustments To Shareholders' Equity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Continuing operations	$ 54,430	$ 38,006	$ 75,535
Other comprehensive income	1,423	(21,900)	22,190
Direct adjustments to shareholders' equity	(805)	(932)	(972)
Total	$ 55,048	$ 15,174	$ 96,753

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of the Gross Liability For Uncertain Tax Positions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Liability for uncertain tax positions, beginning of year	$ 2,894	$ 3,809	$ 5,385
Additions: Related to tax positions for the current year	98	272	194
Additions: Related to tax positions for prior years	0	0	168
Reductions: Due to lapses of statutes of limitations	(215)	(478)	(1,776)
Reductions: Related to tax positions for prior year	0	(143)	0
Reductions: Effect of currency rate movement	(370)	(566)	(162)
Liability for uncertain tax positions, end of year	$ 2,407	$ 2,894	$ 3,809

Credit Facilities (Narrative) (

Credit Facilities (Narrative) (Details) - USD ($) $ in Thousands	Dec. 30, 2014	Mar. 31, 2016	Mar. 31, 2015
Debt Instrument [Line Items]
Five-year revolving credit facility	$ 430,000
Additional borrowings under present credit agreement	$ 100,000
Outstanding uncommitted lines of credit		$ 66,179	$ 59,862
Weighted average interest rates on short-term borrowings outstanding		2.20%	2.70%
Prime Rate Or One Month Libor [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Uncommitted lines of credit [Member]
Debt Instrument [Line Items]
Outstanding uncommitted lines of credit		$ 66,000	$ 60,000
Unused lines of Credit [Member]
Debt Instrument [Line Items]
Outstanding uncommitted lines of credit		$ 306,000
Five-year term [Member]
Debt Instrument [Line Items]
Term loan	$ 150,000
Number Of Years Of Bank Credit Agreement	5 years
Seven-year term [Member]
Debt Instrument [Line Items]
Term loan	$ 220,000
Number Of Years Of Bank Credit Agreement	7 years

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions	Dec. 30, 2014	Mar. 31, 2016
Debt Instrument [Line Items]
Repayments of Debt	$ 250
Reduction in revolving credit borrowings	$ 120
Five-year term [Member]
Debt Instrument [Line Items]
Debt Instrument, Term	5 years
Term loan	$ 150
Debt Instrument, Interest Rate, Effective Percentage		2.94%
Seven-year term [Member]
Debt Instrument [Line Items]
Debt Instrument, Term	7 years
Term loan	$ 220
Debt Instrument, Interest Rate, Effective Percentage		3.48%

Long-Term Debt (Schedule Of Lon

Long-Term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Debt Instrument [Line Items]
Total outstanding	$ 370,000	$ 370,000
Less current portion	0	0
Long-term debt	370,000	370,000
Senior bank term loans
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 370,000	$ 370,000

Leases (Details)

Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Leases [Abstract]
Rent expense on operating leases	$ 14.7	$ 15.8	$ 18.2
Operating leases minimum payment in 2017	10.3
Operating leases minimum payment in 2018	7.1
Operating leases minimum payment in 2019	6.1
Operating leases minimum payment in 2020	4.8
Operating leases minimum payment in 2021	4.4
Operating leases minimum payment after 2021	$ 15

Derivatives And Hedging Activ59

Derivatives And Hedging Activities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2014	Dec. 30, 2014
Derivative [Line Items]
Long-Term Debt, Fair Value	$ 370,000	$ 370,000
Derivative, Notional Amount			$ 74,000
Interest rate swap agreements	10,766	3,050		$ 600
Net unrealized gain on foreign currency derivatives designated as cash flow hedges	500
Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 80,400
Cash Flow Hedges [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 370,000

Derivatives And Hedging Activ60

Derivatives And Hedging Activities Notional Amount of Forward Contracts (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Derivative [Line Items]
Derivative, Notional Amount			$ 74
Derivatives Designated As Hedges [Member] | Forward contracts related to tobacco purchase [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 43.1	$ 105.6		$ 126.1
Derivatives Not Designated As Hedges [Member] | Forward contracts related to tobacco processing costs [Member]
Derivative [Line Items]
Derivative, Notional Amount	13.2	22.9		26.8
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 56.3	$ 128.5		$ 152.9

Derivatives And Hedging Activ61

Derivatives And Hedging Activities (Effect Of Derivative Financial Instruments On The Consolidated Statements Of Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Derivatives Designated As Hedges [Member] | Cash Flow Hedges [Member] | Interest Rate Swap [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recorded in accumulated other comprehensive loss	$ (12,824)	$ (4,044)	$ (142)
Gain (loss) reclassified from accumulated other comprehensive loss into earnings	(5,108)	(1,929)	(886)
Derivatives Designated As Hedges [Member] | Cash Flow Hedges [Member] | Interest Rate Swap [Member] | Selling, General And Administrative Expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings from ineffective portion and early de-designation of cash flow hedges	0	0	0
Derivatives Designated As Hedges [Member] | Cash Flow Hedges [Member] | Forward Foreign Currency Exchange Contracts [Member] | Cost Of Goods Sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recorded in accumulated other comprehensive loss	1,774	1,410	(1,635)
Gain (loss) reclassified from accumulated other comprehensive loss into earnings	993	3,099	(3,844)
Derivatives Designated As Hedges [Member] | Cash Flow Hedges [Member] | Forward Foreign Currency Exchange Contracts [Member] | Selling, General And Administrative Expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings from ineffective portion and early de-designation of cash flow hedges	685	257	(1,839)
Derivatives Not Designated As Hedges [Member] | Forward Foreign Currency Exchange Contracts [Member] | Selling, General And Administrative Expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 5,973	$ 13,178	$ (6,609)

Derivatives And Hedging Activ62

Derivatives And Hedging Activities (Effect Of Derivative Financial Instruments On The Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Derivative [Line Items]
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments	$ 475	$ 106
Derivatives in a Fair Value Liability Position Designated as Hedging Instruments	10,766	3,446
Derivatives in a Fair Value Asset Position Not Designated as Hedging Instruments	297	5,148
Derivatives in a Fair Value Liability Position Not Designated as Hedging Instruments	5	183
Forward Foreign Currency Exchange Contracts [Member] | Other Current Assets [Member]
Derivative [Line Items]
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments	475	106
Derivatives in a Fair Value Asset Position Not Designated as Hedging Instruments	297	5,148
Forward Foreign Currency Exchange Contracts [Member] | Accounts Payable And Accrued Expenses [Member]
Derivative [Line Items]
Derivatives in a Fair Value Liability Position Designated as Hedging Instruments	0	396
Derivatives in a Fair Value Liability Position Not Designated as Hedging Instruments	5	183
Cash Flow Hedges [Member] | Interest Rate Swap Agreements [Member] | Other Non-Current Assets [Member]
Derivative [Line Items]
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments	0	0
Cash Flow Hedges [Member] | Interest Rate Swap Agreements [Member] | Other Noncurrent Liabilities [Member]
Derivative [Line Items]
Derivatives in a Fair Value Liability Position Designated as Hedging Instruments	$ 10,766	$ 3,050

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Long-Term Debt, Fair Value	$ 370	$ 370

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Dec. 30, 2014
Assets:
Money market funds	$ 116,618	$ 86,552
Trading securities associated with deferred compensation plans	17,817	20,692
Forward foreign currency exchange contracts	772	5,254
Total financial assets measured and reported at fair value	135,207	112,498
Liabilities:
Guarantees of bank loans to tobacco growers	1,628	1,695
Interest rate swap agreements	10,766	3,050	$ 600
Forward foreign currency exchange contracts	5	579
Total financial liabilities measured and reported at fair value	12,399	5,324
Level 1 [Member]
Assets:
Money market funds	0	0
Trading securities associated with deferred compensation plans	17,817	20,692
Forward foreign currency exchange contracts	0	0
Total financial assets measured and reported at fair value	17,817	20,692
Liabilities:
Guarantees of bank loans to tobacco growers	0	0
Interest rate swap agreements	0	0
Forward foreign currency exchange contracts	0	0
Total financial liabilities measured and reported at fair value	0	0
Level 2 [Member]
Assets:
Money market funds	116,618	86,552
Trading securities associated with deferred compensation plans	0	0
Forward foreign currency exchange contracts	772	5,254
Total financial assets measured and reported at fair value	117,390	91,806
Liabilities:
Guarantees of bank loans to tobacco growers	0	0
Interest rate swap agreements	10,766	3,050
Forward foreign currency exchange contracts	5	579
Total financial liabilities measured and reported at fair value	10,771	3,629
Level 3 [Member]
Assets:
Money market funds	0	0
Trading securities associated with deferred compensation plans	0	0
Forward foreign currency exchange contracts	0	0
Total financial assets measured and reported at fair value	0	0
Liabilities:
Guarantees of bank loans to tobacco growers	1,628	1,695
Interest rate swap agreements	0	0
Forward foreign currency exchange contracts	0	0
Total financial liabilities measured and reported at fair value	$ 1,628	$ 1,695

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation Of Change In Balance Of Financial Liability For Guarantees Of Bank Loans To Tobacco Growers) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Balance at beginning of year	$ 1,674	$ 2,270
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from portfolio)	(1,826)	(2,392)
Provision for loss or transfer from allowance for loss on direct loans to farmers (addition of current crop year loans)	1,834	2,320
Change in discount rate and estimated collection period	106	130
Currency remeasurement	(160)	(654)
Balance at end of period	$ 1,628	$ 1,674

Pension And Other Postretirem66

Pension And Other Postretirement Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Revised healthcare cost trend assumption	7.00%
Ultimate healthcare cost trend rate	4.50%
Year that rate reaches healthcare cost trend rate	2,037
Effect of one-percentage-point decrease on accumulated postretirement benefit obligation	$ 900
Effect of one-percentage-point increase on accumulated postretirement benefit obligation	1,000
Net actuarial loss expected in net periodic benefit cost during fiscal year 2014	6,100
Prior service benefit expected in net periodic benefit cost during fiscal year 2014	$ 2,600
Percentage of total plan assets	90.00%
Percentage of total projected benefit obligation	81.00%
Expected company contributions in 2014	$ 7,300
Pension and Other Postretirement Benefit Expense	1,800	$ 1,800	$ 1,600
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded status of the plans, end of year	$ 57,646	$ 64,355
Percentage of funded status of plans	58.00%
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Revised healthcare cost trend assumption	7.00%	7.20%	7.40%
Funded status of the plans, end of year	$ 35,660	$ 38,748
Percentage of funded status of plans	83.00%
Non-ERISA regulated and Other Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected company contributions in 2014	$ 1,900
ERISA-regulated U.S. plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected company contributions in 2014	$ 5,400

Pension And Other Postretirem67

Pension And Other Postretirement Benefit Plans (Assumptions Used To Compute Net Periodic Benefit Cost And Benefit Obligations) (Details)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Healthcare cost trend rate	7.00%
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rates: Benefit cost for plan year	3.80%	4.50%	4.20%
Discount rates: Benefit obligation at end of plan year	4.10%	3.80%	4.50%
Expected long-term return on plan assets: Benefit cost for plan year	7.25%	7.75%	8.00%
Expected long-term return on plan assets: Benefit obligation at end of plan year	7.00%	7.25%	7.75%
Salary scale: Benefit cost for plan year	4.50%	4.50%	5.00%
Salary scale: Benefit obligation at end of plan year	4.00%	4.50%	4.50%
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rates: Benefit cost for plan year	3.70%	4.30%	3.90%
Discount rates: Benefit obligation at end of plan year	3.80%	3.70%	4.30%
Expected long-term return on plan assets: Benefit cost for plan year	3.00%	4.30%	4.30%
Expected long-term return on plan assets: Benefit obligation at end of plan year	3.00%	3.00%	4.30%
Salary scale: Benefit cost for plan year	4.50%	4.50%	5.00%
Salary scale: Benefit obligation at end of plan year	4.00%	4.50%	4.50%
Healthcare cost trend rate	7.00%	7.20%	7.40%

Pension And Other Postretirem68

Pension And Other Postretirement Benefit Plans (Benefit Obligations, Plan Assets, And Funded Status) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value, beginning of year	$ 224,553
Plan assets at fair value, end of year	217,859	$ 224,553
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation				$ 273,479	$ 287,133
Projected benefit obligation	288,908	259,928	$ 259,928	275,505	288,908
Projected benefit obligation, beginning of year	288,908	259,928
Service cost	5,953	5,099	5,190
Interest cost	10,037	11,215	12,223
Effect of discount rate change	(10,036)	30,744
Foreign currency exchange rate changes	330	(6,033)
Curtailments	0	0
Other	(486)	2,879
Benefit payments	(19,201)	(14,924)
Projected benefit obligation, end of year	275,505	288,908	259,928
Plan assets at fair value, beginning of year	224,553	213,282
Actual return on plan assets	61	23,486
Employer contributions	12,504	8,063
Foreign currency exchange rate changes	(58)	(5,354)
Plan assets at fair value, end of year	217,859	224,553	213,282
Funded status of the plans, end of year	(57,646)	(64,355)
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	40,863	41,846	41,846	$ 37,225	$ 40,863
Projected benefit obligation, beginning of year	40,863	41,846
Service cost	286	347	527
Interest cost	1,539	1,699	2,106
Effect of discount rate change	(402)	2,669
Foreign currency exchange rate changes	(215)	(444)
Curtailments	0	(1,465)
Other	(1,104)	(788)
Benefit payments	(3,742)	(3,001)
Projected benefit obligation, end of year	37,225	40,863	41,846
Plan assets at fair value, beginning of year	2,115	2,535
Actual return on plan assets	69	73
Employer contributions	3,123	2,508
Foreign currency exchange rate changes	0	0
Plan assets at fair value, end of year	1,565	2,115	$ 2,535
Funded status of the plans, end of year	$ (35,660)	$ (38,748)

Pension And Other Postretirem69

Pension And Other Postretirement Benefit Plans (Funded Status In Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Non-current liability (reported as pensions and other postretirement benefits)	$ (92,177)	$ (97,048)
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Non-current asset (reported in other noncurrent assets)	2,044	1,900
Current liability (included in accounts payable and accrued expenses)	(630)	(5,458)
Non-current liability (reported as pensions and other postretirement benefits)	(59,060)	(60,797)
Amounts recognized in the consolidated balance sheets	(57,646)	(64,355)
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Non-current asset (reported in other noncurrent assets)	0	0
Current liability (included in accounts payable and accrued expenses)	(2,543)	(2,497)
Non-current liability (reported as pensions and other postretirement benefits)	(33,117)	(36,251)
Amounts recognized in the consolidated balance sheets	$ (35,660)	$ (38,748)

Pension And Other Postretirem70

Pension And Other Postretirement Benefit Plans (Additional Information On Funded Status) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Pension Benefits [Member]
For Plans With A Projected Benefit Obligation In Excess Of Plan Assets:
Aggregate projected benefit obligation	$ 270,058	$ 283,070
Aggregate fair value of plan assets	210,368	216,815
For Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets:
Aggregate accumulated benefit obligation	268,087	281,354
Aggregate fair value of plan assets	210,368	216,815
Other Postretirement Benefits [Member]
For Plans With A Projected Benefit Obligation In Excess Of Plan Assets:
Aggregate projected benefit obligation	37,225	40,863
Aggregate fair value of plan assets	$ 1,565	$ 2,115

Pension And Other Postretirem71

Pension And Other Postretirement Benefit Plans (Components Of Company's Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5,953	$ 5,099	$ 5,190
Interest cost	10,037	11,215	12,223
Expected return on plan assets	(15,110)	(15,493)	(14,218)
Curtailments	0	0	0
Settlement cost	0	0	1,094
Net amortization and deferral	4,394	6,169	6,779
Net periodic benefit cost	5,274	6,990	11,068
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	286	347	527
Interest cost	1,539	1,699	2,106
Expected return on plan assets	(58)	(102)	(119)
Curtailments	0	(1,465)	0
Settlement cost	0	0	0
Net amortization and deferral	(431)	(671)	(5)
Net periodic benefit cost	$ 1,336	$ (192)	$ 2,509

Pension And Other Postretirem72

Pension And Other Postretirement Benefit Plans (Recognized In Accumulated Other Comprehensive Income (Loss) On Pretax Basis) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain), beginning of year	$ 81,544	$ 70,488
Losses (gains) arising during the year	4,787	23,353
Reclassification adjustments during the year	7,032	12,297
Net actuarial loss (gain), end of year	79,299	81,544
Prior service cost (benefit), beginning of year	(17,630)	(22,998)
Prior service cost (benefit) arising during the year	111	(675)
Reclassification adjustments during the year	2,458	6,043
Prior service cost (benefit), end of year	(15,061)	(17,630)
Total amounts in accumulated other comprehensive loss at end of year, before income taxes	64,238	63,914
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain), beginning of year	(6,402)	(9,952)
Losses (gains) arising during the year	(1,263)	2,879
Reclassification adjustments during the year	(431)	(671)
Net actuarial loss (gain), end of year	(7,234)	(6,402)
Prior service cost (benefit), beginning of year	0	0
Prior service cost (benefit) arising during the year	(108)	0
Reclassification adjustments during the year	0	0
Prior service cost (benefit), end of year	(108)	0
Total amounts in accumulated other comprehensive loss at end of year, before income taxes	$ (7,342)	$ (6,402)

Pension And Other Postretirem73

Pension And Other Postretirement Benefit Plans (Weighted-Average Target Pension Asset Allocation And Target Ranges By Major Asset Category) (Details)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	100.00%
Actual Allocation	100.00%	100.00%
Domestic Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	26.00%
Target Allocation Range, Minimum	16.00%
Target Allocation Range, Maximum	36.00%
Actual Allocation	22.40%	25.30%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	69.00%
Target Allocation Range, Minimum	59.00%
Target Allocation Range, Maximum	79.00%
Actual Allocation	71.50%	69.10%
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	5.00%
Target Allocation Range, Minimum	0.00%
Target Allocation Range, Maximum	10.00%
Actual Allocation	6.10%	5.60%

Pension And Other Postretirem74

Pension And Other Postretirement Benefit Plans (Estimated Future Benefit Payments) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Pension Benefits [Member]
2,017	$ 14,305
2,018	17,223
2,019	22,358
2,020	16,271
2,021	16,799
2022 - 2026	90,913
Other Postretirement Benefits [Member]
2,017	2,944
2,018	2,854
2,019	2,874
2,020	2,832
2,021	2,807
2022 - 2026	$ 12,915

Pension And Other Postretirem75

Pension And Other Postretirement Benefit Plans (Fair Values Of Assets Under Fair Value Hierarchy) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Total investments	$ 217,859	$ 224,553
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	43,807	51,300
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	162,091	161,817
Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	11,961	11,436
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	185,025	192,955
Level 1 [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	43,807	51,300
Level 1 [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	141,218	141,655
Level 1 [Member] | Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	7,491	7,738
Level 2 [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Level 2 [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	7,491	7,738
Level 2 [Member] | Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	25,343	23,860
Level 3 [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	0	0
Level 3 [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	13,382	12,424
Level 3 [Member] | Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	$ 11,961	$ 11,436

Common And Preferred Stock (Nar

Common And Preferred Stock (Narrative) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2006
Class of Stock [Line Items]
Common stock, shares authorized	100,000,000
Common Stock, Shares, Outstanding	22,717,735
Stock Repurchase Program, Authorized Amount	$ 100,000,000
Preferred stock, shares authorized	5,000,000
Preferred stock liquidation price	$ 1,000
Series B 6.75% convertible perpetual preferred stock, quarterly dividend rate	6.75%
Preferred stock exceeding percentage on closing price	135.00%
Preferred stock, conversion rate	22.2744
Preferred shares, conversion price	$ 44.89
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 100,000,000
Minimum [Member]
Class of Stock [Line Items]
Dividend common stock	$ 0.43
Maximum [Member]
Class of Stock [Line Items]
Preferred stock, conversion period	March 15, 2018
Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized	100,000,000	100,000,000
Common Stock, Shares, Outstanding	22,717,735	22,593,266
Series A Junior Participating Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	220,000	220,000
Preferred stock, shares issued	218,490	218,490			220,000
Preferred stock, shares outstanding	218,490	218,490	219,999	219,999

Common And Preferred Stock (Sch

Common And Preferred Stock (Schedule Of Repurchases Of Shares) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares repurchased	0	1,509	0
Weighted-average cost per share	$ 0	$ 992.27	$ 0
Stock Repurchased and Retired During Period, Cost Value	$ 0	$ 1,497	$ 0
Common Stock [Member]
Class of Stock [Line Items]
Number of shares repurchased	0	719,993	238,486
Cost of shares repurchased (in thousands of dollars)	$ 0	$ 31,227	$ 14,145
Weighted-average cost per share	$ 0	$ 43.37	$ 59.31

Executive Stock Plans And Sto78

Executive Stock Plans And Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to stock-based awards	$ 5.1
Unrecognized compensation expense related to stock-based awards, weighted-average period expected to recognized	1 year 2 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares common stock expected to issue under the Plans	2,000,000
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period following grant date, in years	10 years
Description of award vesting rights for SARs	vest in equal one-third tranches one, two, and three years after the grant date
Closing market price	$ 56.81	$ 47.16	$ 55.89
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years	5 years
Performance Share Awards Psas [Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years	3 years
Performance Share Awards Psas [Member | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award grant paid	0.00%
Performance Share Awards Psas [Member | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award grant paid	150.00%
Outside Directors [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years	3 years
Plans After Fiscal 2007 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period following grant date, in years	10 years
Expiration period following grantee retirement, in years	3 years
2002 Executive Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares common stock expected to issue under the Plans	500,000
2007 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares common stock expected to issue under the Plans	1,350,000

Executive Stock Plans And Sto79

Executive Stock Plans And Stock-Based Compensation (Summary Of Stock Option And SAR Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at beginning of year, Weighted-Average Exercise Price	$ 59.82	$ 54.83	$ 50.07
Outstanding at beginning of year, Shares	169,601	257,340	418,477
Exercised, Shares	(6,200)	(63,539)	(161,137)
Cancelled/expired, Shares	(11,200)	(24,200)
Outstanding at end of year, Shares	152,201	169,601	257,340
Exercised, Weighted-Average Exercise Price	$ 51.32	$ 38.50	$ 42.48
Cancelled/expired, Weighted-Average Exercise Price	62.66	62.66
Outstanding at end of year, Weighted-Average Exercise Price	$ 59.96	$ 59.82	$ 54.83
Outstanding at end of year, Weighted-Average Contractual Term	1 year 1 month 20 days
Outstanding at end of year, Aggregate Intrinsic Value	$ 302

Executive Stock Plans And Sto80

Executive Stock Plans And Stock-Based Compensation (Intrinsic Value And Fair Value of SARs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total intrinsic value of stock options and SARs exercised	$ 26	$ 1,091	$ 2,816
Total fair value of SARs vested	$ 0	$ 375	$ 769

Executive Stock Plans And Sto81

Executive Stock Plans And Stock-Based Compensation (Summary Of RSU, Restricted Stock, And PSA Activity) (Details) - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	80,932	94,539	70,092
Vested, Shares	(42,384)	(123,322)	(69,046)
Forfeited, Shares		0	0
Unvested at end of year, Shares	302,945	264,397	293,180	292,134
Granted, Weighted- Average Grant Date Fair Value	$ 51.62	$ 51.86	$ 57.79
Vested, Weighted- Average Grant Date Fair Value	41.64	42.02	44.89
Forfeited, Weighted- Average Grant Date Fair Value		0	0
Unvested at end of year, Weighted- Average Grant Date Fair Value	$ 49.95	$ 48.10	$ 44.33	$ 41.23
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	0	0	0
Vested, Shares	0	0	(11,750)
Forfeited, Shares		0	0
Unvested at end of year, Shares	48,100	48,100	48,100	59,850
Granted, Weighted- Average Grant Date Fair Value	$ 0	$ 0	$ 0
Vested, Weighted- Average Grant Date Fair Value	0	0	39.02
Forfeited, Weighted- Average Grant Date Fair Value		0	0
Unvested at end of year, Weighted- Average Grant Date Fair Value	$ 42.33	$ 42.33	$ 42.33	$ 41.68
Performance Share Awards Psas [Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	86,212	57,580	52,400
Vested, Shares	(85,387)	(50,092)	(32,464)
Forfeited, Shares		(3,400)	(5,566)
Unvested at end of year, Shares	154,300	153,475	149,387	135,017
Granted, Weighted- Average Grant Date Fair Value	$ 45.06	$ 46.41	$ 53.56
Vested, Weighted- Average Grant Date Fair Value	38.14	31.95	33.95
Forfeited, Weighted- Average Grant Date Fair Value		53.56	37.45
Unvested at end of year, Weighted- Average Grant Date Fair Value	$ 48.13	$ 45.58	$ 41.76	$ 35.12

Executive Stock Plans And Sto82

Executive Stock Plans And Stock-Based Compensation (Stock-Based Compensation Expense And Related Income Tax Benefit Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Total stock-based compensation expense	$ 5,206	$ 6,230	$ 6,278
Income tax benefit recorded on stock-based compensation expense	$ 1,822	$ 2,181	$ 2,197

Commitments And Other Matters83

Commitments And Other Matters (Narrative) (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2013USD ($)$ / shares	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2014USD ($)
Commitments And Other Matters [Line Items]
Total amount of advances funded towards tobacco purchase		$ 102,000,000
Commitments relating to agricultural materials,capital expenditures		53,000,000
Company total exposure under guarantees		11,000,000
Face amount of guarantee including unpaid accrued interest		13,000,000	$ 17,000,000
Fair value of the guarantees		2,000,000	2,000,000
Other contingent liabilities		$ 2,000,000
Due period of accounts receivables		30
Allowance for doubtful accounts		$ 9,000,000	5,000,000
Total Amount of Brazilian IPI Federal Tax Credits Made Available by Court Decision	$ 104,000,000
Gain on settlement of excise tax case	81,600,000	0	12,676,000	$ 81,619,000
Gain on favorable outcome of excise tax case in Brazil, after tax	$ 53,100,000
Diluted earnings per share calculation based on gain from excise tax case in Brazil | $ / shares	$ 1.87
Net book value on tax credits from excise tax case after valuation allowance	$ 90,000,000	12,700,000
Payments to Acquire Businesses, Net of Cash Acquired		5,964,000	0	0
Fair value gain upon acquisition of partner's interest in joint venture		3,390,000	0	0
Fair value of assets upon acquisition of partner's interest in joint venture		12,000,000
Philip Morris International, Inc [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		640,000,000	580,000,000	590,000,000
British American Tobacco PLC [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		230,000,000	220,000,000	240,000,000
Imperial Tobacco Group, PLC [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		210,000,000	$ 280,000,000	$ 340,000,000
Five largest customers revenue percentage [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		0.60
Santa Catarina [Member]
Commitments And Other Matters [Line Items]
Brazil Audit Assessment For Tax, Penalties, And Interest On Recoverable Value Added Tax Credits		14,000,000
Reduction of Brazil Audit Assessment For Tax, Penalties, And Interest On Recoverable Value Added Tax Credits		12,000,000
Santa Catarina [Member] | Minimum [Member]
Commitments And Other Matters [Line Items]
Estimate of possible loss on remaining VAT audit assessment		0
Santa Catarina [Member] | Maximum [Member]
Commitments And Other Matters [Line Items]
Estimate of possible loss on remaining VAT audit assessment		12,000,000
Parana [Member]
Commitments And Other Matters [Line Items]
Brazil Audit Assessment For Tax, Penalties, And Interest On Recoverable Value Added Tax Credits		15,000,000
Reduction of Brazil Audit Assessment For Tax, Penalties, And Interest On Recoverable Value Added Tax Credits		5,000,000
Parana [Member] | Minimum [Member]
Commitments And Other Matters [Line Items]
Estimate of possible loss on remaining VAT audit assessment		0
Parana [Member] | Maximum [Member]
Commitments And Other Matters [Line Items]
Estimate of possible loss on remaining VAT audit assessment		5,000,000
Fiscal Year 2017 [Member]
Commitments And Other Matters [Line Items]
Tobacco purchase contracts		566,000,000
After Fiscal Year 2017 [Member]
Commitments And Other Matters [Line Items]
Tobacco purchase contracts		$ 110,000,000

Commitments And Other Matters84

Commitments And Other Matters (Schedule Of Accounts Receivable By Reportable Operating Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Consolidated accounts receivable	$ 428,659	$ 434,362
North America [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	85,985	38,046
Other Regions [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	303,932	350,122
Flue-Cured And Burley Leaf Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	389,917	388,168
Other Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	$ 38,742	$ 46,194

Operating Segments (Narrative)

Operating Segments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting [Abstract]
Ownership percentage in affiliate	49.00%
Number of regional operating segments	5
Number of regions into a single reporting segment	4
Investment in unconsolidated affiliate	$ 81.8	$ 74.9	$ 93.3

Operating Segments (Operating R

Operating Segments (Operating Results For The Company's Reportable Segments) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		$ 2,120,373	$ 2,271,801	$ 2,542,115
Operating Income		181,647	167,874	246,151
Equity in pretax earnings of unconsolidated affiliates	[1]	(5,422)	(7,137)	(3,897)
Restructuring and impairment costs	[2]	(2,389)	(4,890)	(6,746)
Other income	[3]	3,390	12,676	81,619
Segment Assets		2,232,797	2,188,449	2,264,893
Goodwill		99,031	99,085	99,080
Depreciation and Amortization		37,644	37,324	38,899
Capital Expenditures		47,153	58,385	45,849
Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		2,120,373	2,271,801	2,542,115
Operating Income		186,068	167,225	175,175
Flue-Cured And Burley Leaf Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		1,900,798	2,044,809	2,280,855
Operating Income		174,743	156,899	156,664
Segment Assets		1,914,029	1,891,150	1,948,668
Goodwill		97,318	97,372	97,367
Depreciation and Amortization		33,501	33,111	35,062
Capital Expenditures		27,404	45,117	40,260
Flue-Cured And Burley Leaf Tobacco Operations [Member] | North America [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		361,827	305,028	348,627
Operating Income		31,147	31,060	23,217
Segment Assets		364,271	281,757	272,161
Goodwill		0	0	0
Depreciation and Amortization		4,314	4,284	6,018
Capital Expenditures		2,282	5,814	2,676
Flue-Cured And Burley Leaf Tobacco Operations [Member] | Other Regions [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	[4]	1,538,971	1,739,781	1,932,228
Operating Income	[4]	143,596	125,839	133,447
Segment Assets	[4]	1,549,758	1,609,393	1,676,507
Goodwill	[4]	97,318	97,372	97,367
Depreciation and Amortization	[4]	29,187	28,827	29,044
Capital Expenditures	[4]	25,122	39,303	37,584
Other Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	[5]	219,575	226,992	261,260
Operating Income	[5]	11,325	10,326	18,511
Segment Assets	[5]	318,768	297,299	316,225
Goodwill	[5]	1,713	1,713	1,713
Depreciation and Amortization	[5]	4,143	4,213	3,837
Capital Expenditures	[5]	$ 19,749	$ 13,268	$ 5,589
[1]	Equity in pretax earnings of unconsolidated affiliates is included in segment operating income (Other Tobacco Operations segment), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income.
[2]	Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income (see Note 2).
[3]	Other income in fiscal year 2016 represents a gain from remeasuring to fair value the Company's original 50% ownership in Procesadora Unitab, S.A., a tobacco processing joint venture in Guatemala, upon acquiring the 50% interest held by the Company's joint venture partner (See Note 13). Other income represents the reversal of a valuation allowance on IPI excise tax credits in Brazil in fiscal year 2015 and the gain on the favorable outcome of the IPI tax credit case in fiscal year 2014 (see Note 13).
[4]	Includes South America, Africa, Europe, and Asia regions, as well as inter-region eliminations.
[5]	Includes Dark Air-Cured, Oriental, and Special Services, as well as inter-company eliminations. Sales and other operating revenues, goodwill, depreciation and amortization, and capital expenditures include limited amounts or no amounts for Oriental because the business is accounted for on the equity method and its financial results consist principally of equity in the pretax earnings of the unconsolidated affiliate. The investment in the unconsolidated affiliate is included in segment assets and was approximately $81.8 million, $74.9 million, and $93.3 million, at March 31, 2016, 2015, and 2014, respectively.

Operating Segments (Schedule Of

Operating Segments (Schedule Of Sales And Long-Lived Assets By Country) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 2,120,373	$ 2,271,801	$ 2,542,115
Long-Lived Assets	424,958	404,535	395,999
United States [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	275,147	290,950	304,527
Long-Lived Assets	84,072	70,929	61,347
Belgium [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	371,580	336,396	289,206
Germany [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	155,180	170,338	173,872
China [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	135,032	174,872	210,956
NETHERLANDS
Segment Reporting Information [Line Items]
Sales and other operating revenues	121,767	113,297	208,031
Russia (Member)
Segment Reporting Information [Line Items]
Sales and other operating revenues	109,559	126,652	123,114
Brazil [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	133,727	135,980	135,359
Mozambique [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	53,069	55,733	49,543
All Other Countries [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	952,108	1,059,296	1,232,409
Long-Lived Assets	$ 154,090	$ 141,893	$ 149,750

Accumulated Other Comprehensi88

Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Foreign currency translation: [Abstract]
Net gain (loss) on foreign currency translation, net of income taxes		$ 3,934	$ (22,625)	$ 6,480
Pension and other postretirement benefit plan: [Abstract]
Pension and other postretirement benefit plans, net of income taxes		1,004	(14,023)	32,022
Other Comprehensive Income (Loss), Tax [Abstract]
Total accumulated other comprehensive income (loss) at end of period		(72,350)	(74,994)	(34,332)
Forward Foreign Currency Exchange Contracts [Member]
Cash flow hedges: [Abstract]
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		2,509	(2,603)	1,624
Interest Rate Swap [Member]
Cash flow hedges: [Abstract]
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		(5,015)	(1,374)	483
Accumulated Translation Adjustment [Member]
Foreign currency translation: [Abstract]
Balance at beginning of year		(31,138)	(8,476)	(15,555)
Net gain (loss) on foreign currency translation, net of income taxes		3,934	(22,625)	6,480
Less: Net loss (gain) on foreign currency translation attributable to noncontrolling interests		212	(37)	599
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		4,146	(22,662)	7,079
Balance at end of period		(26,992)	(31,138)	(8,476)
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on net gain (loss) on foreign currency translation		(2,119)	12,181	(3,489)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Forward Foreign Currency Exchange Contracts [Member]
Cash flow hedges: [Abstract]
Balance at beginning of year		(1,834)	769	(855)
Net gain (loss) on derivative instruments, net of income taxes		1,969	(4,280)	580
Reclassifications to earnings, net of income taxes	[1]	540	1,677	1,044
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		2,509	(2,603)	1,624
Balance at end of period		675	(1,834)	769
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on net gain (loss) on derivative instruments		(1,060)	2,304	(312)
Taxes on reclassifications to net income		(291)	(903)	(563)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Swap [Member]
Cash flow hedges: [Abstract]
Balance at beginning of year		(1,982)	(608)	(1,091)
Net gain (loss) on derivative instruments, net of income taxes		(8,335)	(2,628)	(93)
Reclassifications to earnings, net of income taxes	[2]	3,320	1,254	576
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		(5,015)	(1,374)	483
Balance at end of period		(6,997)	(1,982)	(608)
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on net gain (loss) on derivative instruments		4,489	1,416	49
Taxes on reclassifications to net income		(1,788)	(675)	(310)
Accumulated Defined Benefit Plans Adjustment [Member]
Pension and other postretirement benefit plan: [Abstract]
Balance at beginning of year		(40,040)	(26,017)	(58,039)
Gains arising during period, net of income taxes	[3]	(1,921)	(18,049)	11,977
Prior service credit arising during the period, net of income taxes	[3]	0	0	14,394
Amortization included in earnings, net of income taxes	[4]	2,925	4,026	5,651
Pension and other postretirement benefit plans, net of income taxes		1,004	(14,023)	32,022
Balance at end of period		(39,036)	(40,040)	(26,017)
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on losses (gains) arising during the period		1,035	9,719	(6,449)
Taxes on prior service credit arising during the period		0	0	(7,751)
Taxes on amortization included in net income		$ (1,576)	$ (2,163)	$ (3,042)
[1]	Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 8 for additional information.
[2]	) Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the debt or upon termination of the interest rate swap agreements prior to their scheduled maturity dates. See Note 8 for additional information.
[3]	These items arise from the remeasurement of the assets and liabilities of the Company's defined benefit pension plans. Those remeasurements are made on an annual basis at the end of the fiscal year. In addition, the assets and liabilities of the Company's U.S.-based pension plans were also remeasured on an interim basis during the second quarter of fiscal year 2014 to reflect the effect of plan amendments adopted during the period. See Note 10 for additional information.
[4]	This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10 for additional information.

Unaudited Quarterly Financial89

Unaudited Quarterly Financial Data (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended									12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Unaudited Quarterly Financial Data [Line Items]
Continuing operations											$ 54,430	$ 38,006	$ 75,535
Fair value gain upon acquisition of partner's interest in joint venture											3,390	0	0
Restructuring and impairment costs											2,389	4,890	6,746
Net income attributable to Universal Corporation		$ 47,964	$ 44,534	$ 22,465	$ (5,947)	$ 45,827	$ 53,039	$ 15,025	$ 717		$ 109,016	$ 114,608	$ 149,009
Diluted earnings per share		$ 1.72	$ 1.60	$ 0.81	$ (0.43)	$ 1.64	$ 1.87	$ 0.48	$ (0.13)		$ 3.92	$ 4.06	$ 5.25
Gain on settlement of excise tax case										$ 81,600	$ 0	$ 12,676	$ 81,619
Other Operating Income	[1]										$ 3,390	$ 12,676	$ 81,619
Restructuring Charges [Member]
Unaudited Quarterly Financial Data [Line Items]
Restructuring and impairment costs						$ 400
Net income attributable to Universal Corporation						$ 300
Diluted earnings per share						$ 0.01
ZAMBIA
Unaudited Quarterly Financial Data [Line Items]
Restructuring and impairment costs					$ 2,400
Net income attributable to Universal Corporation					$ (1,600)
Diluted earnings per share					$ (0.06)
GUATEMALA
Unaudited Quarterly Financial Data [Line Items]
Net income attributable to Universal Corporation			$ 2,200
Diluted earnings per share			$ 0.08
Other Operating Income			$ 3,390
Brazil [Member]
Unaudited Quarterly Financial Data [Line Items]
Restructuring and impairment costs							$ 1,100	$ 3,400
Net income attributable to Universal Corporation						$ 8,200	$ 700	$ 2,200
Diluted earnings per share						$ 0.30	$ 0.03	$ 0.09
Gain on settlement of excise tax case						$ 12,700
Deltafina [Member]
Unaudited Quarterly Financial Data [Line Items]
Continuing operations									$ 8,000
Diluted earnings per share									$ 0.34
[1]	Other income in fiscal year 2016 represents a gain from remeasuring to fair value the Company's original 50% ownership in Procesadora Unitab, S.A., a tobacco processing joint venture in Guatemala, upon acquiring the 50% interest held by the Company's joint venture partner (See Note 13). Other income represents the reversal of a valuation allowance on IPI excise tax credits in Brazil in fiscal year 2015 and the gain on the favorable outcome of the IPI tax credit case in fiscal year 2014 (see Note 13).

Unaudited Quarterly Financial90

Unaudited Quarterly Financial Data (Unaudited Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Sales and other operating revenues	$ 803,980	$ 584,592	$ 456,382	$ 275,419	$ 778,159	$ 758,054	$ 464,116	$ 271,472
Gross profit	140,942	119,906	98,094	48,389	122,091	147,572	85,071	55,540
Net income	52,594	46,615	25,064	(6,125)	46,375	58,077	15,484	525	$ 118,148	$ 120,461	$ 155,155
Net income attributable to Universal Corporation	47,964	44,534	22,465	(5,947)	45,827	53,039	15,025	717	109,016	114,608	149,009
Earnings (loss) available to Universal Corporation common shareholders after dividends on convertible perpetual preferred stock	$ 44,277	$ 40,847	$ 18,778	$ (9,634)	$ 42,122	$ 49,309	$ 11,312	$ (2,995)	$ 94,268	$ 99,748	$ 134,159
Basic	$ 1.95	$ 1.80	$ 0.83	$ (0.43)	$ 1.86	$ 2.13	$ 0.49	$ (0.13)	$ 4.16	$ 4.33	$ 5.77
Diluted	1.72	1.60	0.81	(0.43)	1.64	1.87	0.48	(0.13)	3.92	4.06	5.25
Convertible perpetual preferred stock, cash dividends declared per share	16.87	16.88	16.87	16.88	16.87	16.88	16.87	16.88	67.50	67.50	67.50
Common stock, cash dividends declared per share	0.53	0.53	0.52	0.52	0.52	0.52	0.51	0.51	2.10	2.06	$ 2.02
Market price range of common stock, high	57.27	57.72	58.41	57.76	48.10	45.63	56.35	56.82	57.27	48.10
Market price range of common stock, low	$ 51.49	$ 49.70	$ 46.98	$ 46.80	$ 39.27	$ 38.53	$ 44.39	$ 52.16	$ 51.49	$ 39.27

Schedule II - Valuation And Q91

Schedule II - Valuation And Qualifying Accounts (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Allowance for doubtful accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 5,482	$ 6,536	$ 7,968
Net Additions (Reversals) Charged to Expense	6,970	1,341	419
Additions Charged to Other Accounts	0	0	0
Deductions	(3,353)	(2,395)	(1,851)
Balance at End of Period	9,099	5,482	6,536
Allowance for supplier accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	34,673	46,078	54,393
Net Additions (Reversals) Charged to Expense	815	3,734	5,461
Additions Charged to Other Accounts	0	0	0
Deductions	(6,623)	(15,139)	(13,776)
Balance at End of Period	28,865	34,673	46,078
Allowance for recoverable taxes [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	23,218	29,504	26,044
Net Additions (Reversals) Charged to Expense	1,755	1,855	5,607
Additions Charged to Other Accounts	0	0	0
Deductions	(6,221)	(8,141)	(2,147)
Balance at End of Period	$ 18,752	$ 23,218	$ 29,504