Universal (UVV) 10-K 25 May 18 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	May 21, 2018	Sep. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
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		24,899,948
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 1,439
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, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Sales and other operating revenues		$ 2,033,947	$ 2,071,218	$ 2,120,373
Costs and expenses
Cost of goods sold		1,661,999	1,676,539	1,713,042
Selling, general and administrative expenses		200,461	211,969	226,685
Other income	[1]	0	0	(3,390)
Restructuring and impairment costs		0	4,359	2,389
Operating income		171,487	178,351	181,647
Equity in pretax earnings of unconsolidated affiliates	[2]	9,125	5,774	5,422
Interest income		1,686	1,397	1,178
Interest expense		15,621	16,284	15,669
Income before income taxes		166,677	169,238	172,578
Income taxes		50,509	56,732	54,430
Net income		116,168	112,506	118,148
Less: net income attributable to noncontrolling interests in subsidiaries		(10,506)	(6,202)	(9,132)
Net income attributable to Universal Corporation		105,662	106,304	109,016
Dividends on Universal Corporation convertible perpetual preferred stock		0	(11,061)	(14,748)
Cost in excess of carrying value on conversion/repurchase of convertible perpetual preferred stock		0	(74,353)	0
Earnings available to Universal Corporation common shareholders		$ 105,662	$ 20,890	$ 94,268
Earnings per share attributable to Universal Corporation common shareholders:
Basic		$ 4.18	$ 0.89	$ 4.16
Diluted		$ 4.14	$ 0.88	$ 3.92
Weighted average common shares outstanding:
Basic		25,274,975	23,433,860	22,683,290
Diluted		25,508,144	23,770,088	27,825,491
[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).
[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, 2018	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 116,168	$ 112,506	$ 118,148
Other comprehensive income (loss):
Foreign currency translation, net of income taxes	14,162	(6,899)	3,934
Pension and other postretirement benefit plans, net of income taxes	2,613	1,475	1,004
Total other comprehensive income (loss), net of income taxes	21,496	2,038	2,432
Total comprehensive income	137,664	114,544	120,580
Less: comprehensive income attributable to noncontrolling interests	(10,134)	(5,449)	(8,920)
Comprehensive income attributable to Universal Corporation	127,530	109,095	111,660
Foreign currency hedge, net of income taxes [Member]
Other comprehensive income (loss):
Hedges, net of income taxes	223	(933)	2,509
Interest rate hedge, net of income taxes [Member]
Other comprehensive income (loss):
Hedges, net of income taxes	$ 4,498	$ 8,395	$ (5,015)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
ASSETS
Cash and cash equivalents	$ 234,128	$ 283,993
Accounts receivable, net	377,119	439,288
Advances to suppliers, net	122,786	103,750
Accounts receivable—unconsolidated affiliates	2,040	2,373
Inventories—at lower of cost or net realizable value:
Tobacco	679,428	565,943
Other	69,301	68,087
Prepaid income taxes	16,032	16,713
Other current assets	88,209	81,252
Total current assets	1,589,043	1,561,399
Property, plant and equipment
Land	23,180	22,852
Buildings	271,757	266,802
Machinery and equipment	634,660	597,213
Total property, plant and equipment	929,597	886,867
Less accumulated depreciation	(605,803)	(569,527)
Property, plant and equipment, net	323,794	317,340
Other assets
Goodwill and other intangibles	98,927	98,888
Investments in unconsolidated affiliates	89,302	78,457
Deferred income taxes	17,118	25,422
Other noncurrent assets	50,448	41,899
Total other assets	255,795	244,666
Total assets	2,168,632	2,123,405
Current liabilities
Notes payable and overdrafts	45,421	59,133
Accounts payable and accrued expenses	163,763	153,515
Accounts payable—unconsolidated affiliates	16,072	7,231
Customer advances and deposits	7,021	11,007
Accrued compensation	27,886	32,007
Income taxes payable	7,557	5,103
Current portion of long-term debt	0	0
Total current liabilities	267,720	267,996
Long-term debt	369,086	368,733
Pensions and other postretirement benefits	64,843	80,689
Other long-term liabilities	45,955	31,424
Deferred income taxes	35,726	47,985
Total liabilities	783,330	796,827
Shareholders’ equity
Common stock, no par value, 100,000,000 shares authorized, 24,930,725 shares issued and outstanding (25,274,506 at March 31, 2017)	321,559	321,207
Retained earnings	1,080,934	1,034,841
Accumulated other comprehensive loss	(60,064)	(69,559)
Total Universal Corporation shareholders' equity	1,342,429	1,286,489
Noncontrolling interests in subsidiaries	42,873	40,089
Total shareholders' equity	1,385,302	1,326,578
Total liabilities and shareholders' equity	2,168,632	2,123,405
Series A Junior Participating Preferred Stock [Member]
Shareholders’ equity
Preferred Stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2018	Mar. 31, 2017
Preferred stock, shares authorized	5,000,000
Common stock, shares authorized	100,000,000
Common stock, shares outstanding	24,930,725
Common Stock [Member]
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	24,930,725	25,274,506
Common stock, shares outstanding	24,930,725	25,274,506
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	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 116,168	$ 112,506	$ 118,148
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	34,836	35,911	36,754
Provision for losses (recoveries) on advances and guaranteed loans to suppliers	3,730	(857)	815
Inventory write-downs	7,687	10,866	11,899
Stock-based compensation expense	7,610	6,475	5,206
Foreign currency remeasurement loss (gain), net	(184)	9,269	22,517
Deferred income taxes	(11,132)	16,626	15,046
Equity in net income of unconsolidated affiliates, net of dividends	(1,521)	396	156
Fair value gain upon acquisition of partner's interest in joint venture	0	0	(3,390)
Restructuring and impairment costs	0	4,359	2,389
Other, net	(6,167)	(4,463)	13,204
Changes in operating assets and liabilities, net:
Accounts and notes receivable	38,264	(14,346)	(2,806)
Inventories and other assets	(116,427)	52,139	(7,370)
Income taxes	1,239	(1,719)	1,437
Accounts payable and other accrued liabilities	13,082	28,643	(13,678)
Customer advances and deposits	(3,940)	(5,490)	(13,796)
Net cash provided by operating activities	83,245	250,315	186,531
Cash Flows From Investing Activities:
Purchase of property, plant and equipment	(34,037)	(35,630)	(47,153)
Purchase of partner's interest in joint venture, net of cash held by the business	0	0	(5,964)
Proceeds from sale of property, plant and equipment	5,194	2,174	2,982
Other	(550)	(398)	(796)
Net cash used by investing activities	(29,393)	(33,854)	(50,931)
Cash Flows From Financing Activities:
Issuance (repayment) of short-term debt, net	(18,159)	(5,349)	4,880
Dividends paid to noncontrolling interests in subsidiaries	(7,350)	(4,200)	(4,449)
Conversion of convertible perpetual preferred stock	0	(178,365)	0
Repurchase of common stock	(21,610)	0	0
Dividends paid on convertible perpetual preferred stock	0	(11,061)	(14,748)
Dividends paid on common stock	(54,699)	(49,828)	(47,389)
Other	(2,828)	(2,441)	(2,940)
Net cash used by financing activities	(104,646)	(251,244)	(64,646)
Effect of exchange rate changes on cash	929	(671)	(290)
Net (decrease) increase in cash and cash equivalents	(49,865)	(35,454)	70,664
Cash and cash equivalents at beginning of year	283,993	319,447	248,783
Cash and Cash Equivalents at End of Year	234,128	283,993	319,447
Supplemental information—cash paid for:
Interest	15,621	16,284	15,704
Income taxes, net of refunds	$ 58,339	37,294	$ 38,732
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Cash Flows From Financing Activities:
Non-cash reclassification of preferred stock converted		$ 107,600
Preferred stock, shares converted to common stock	0	111,072	0

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]	Common Stock [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]	Cash conversion of stock [Member]Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Balance at beginning of year at Mar. 31, 2015		$ 1,397,094					$ 211,562	$ 206,002	$ 1,020,155			$ (74,994)			$ 34,369
Balance at beginning of year, shares at Mar. 31, 2015			218,490
Balance at beginning of year, shares at Mar. 31, 2015				22,593,266
Changes in preferred and common stock
Preferred stock, shares converted to common stock			0
Issuance of stock, shares				124,469
Conversion of Stock, Shares Issued				0
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)
Stock Repurchased And Retired During Period Value 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
Changes in preferred and common stock
Conversion of Stock, Amount Converted			$ (107,600)				(107,550)	107,550
Preferred stock, shares converted to common stock			(111,072)
Payments for Repurchase of Redeemable Convertible Preferred Stock		(104,012)					(104,012)
Issuance of stock, shares				69,653
Conversion of Stock, Shares Issued				2,487,118
Repurchase of stock, shares				0												(107,418)
Accrual of stock-based compensation		6,475						6,475
Withholding of shares from stock-based compensation for grantee income taxes		(2,440)						(2,440)
Dividend equivalents on RSUs		676						676
Changes in retained earnings
Net income		112,506							106,304						6,202
Cash dividends declared
Series B 6.75% convertible perpetual preferred stock ($67.50 per share)		(11,061)							(11,061)
Common stock		(51,437)							(51,437)
Stock Repurchased And Retired During Period Value Retained Earnings		(74,353)	$ 74,353							$ 74,353
Dividend equivalents on RSUs		(676)							(676)
Other comprehensive income (loss)
Foreign currency translation, net of income taxes		(6,899)										(6,146)			(753)
Hedges, net of income taxes					(933)	8,395							(933)	8,395
Pension and other postretirement benefit plans, net of income taxes		1,475										1,475
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders		(4,200)													(4,200)
Balance at end of year at Mar. 31, 2017		1,326,578					$ 0	321,207	1,034,841			(69,559)			40,089
Balance at end of year, shares at Mar. 31, 2017			0
Balance at end of year, shares at Mar. 31, 2017				25,274,506
Changes in preferred and common stock
Repurchase of stock				$ (5,142)				(5,142)
Preferred stock, shares converted to common stock			0
Issuance of stock, shares				59,843
Conversion of Stock, Shares Issued				0
Repurchase of stock, shares				(403,624)												0
Accrual of stock-based compensation		7,610						7,610
Withholding of shares from stock-based compensation for grantee income taxes		(2,828)						(2,828)
Dividend equivalents on RSUs		712						712
Changes in retained earnings
Net income		116,168							105,662						10,506
Cash dividends declared
Common stock		(54,762)							(54,762)
Stock Repurchased And Retired During Period Value Retained Earnings		0
Repurchase of stock, retained earnings				$ (16,468)							$ (16,468)
Dividend equivalents on RSUs		(712)							(712)
Other comprehensive income (loss)
Foreign currency translation, net of income taxes		14,162										14,534			(372)
Hedges, net of income taxes					$ 223	$ 4,498							$ 223	$ 4,498
Pension and other postretirement benefit plans, net of income taxes		2,613										2,613
Reclassification of Tax Effects out of Accumulated Other Comprehensive Income	[1]								12,373			(12,373)
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders		(7,350)													(7,350)
Balance at end of year at Mar. 31, 2018		$ 1,385,302						$ 321,559	$ 1,080,934			$ (60,064)			$ 42,873
Balance at end of year, shares at Mar. 31, 2018			0
Balance at end of year, shares at Mar. 31, 2018		24,930,725		24,930,725
[1]	In the fourth quarter of fiscal year 2018, the Company adopted FASB Accounting Standards Update 2018-02, which addressed the disproportionate income tax effects on pretax amounts recorded in accumulated other comprehensive income (loss) arising from the enactment of the Tax Cuts and Jobs Act of 2017. With the adoption of ASU 2018-02, the disproportionate tax effects were reclassified to retained earnings, and the resulting tax effects remaining in accumulated other comprehensive income (loss) are reflective of the rates which those amounts will ultimately be taxed.

Consolidated Statements of Cha8

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Statement of Stockholders' Equity [Abstract]
Series B 6.75% convertible perpetual preferred stock, cash dividends declared per share	$ 0	$ 0	$ 0	$ 0	$ 0	$ 16.88	$ 16.87	$ 16.88	$ 0	$ 50.63	$ 67.50
Common stock, cash dividends declared per share	$ 0.55	$ 0.55	$ 0.54	$ 0.54	$ 0.54	$ 0.54	$ 0.53	$ 0.53	$ 2.18	$ 2.14	$ 2.10

Nature Of Operations And Signif

Nature Of Operations And Significant Accounting Policies	12 Months Ended
	Mar. 31, 2018
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 $5.5 million in fiscal year 2018 , $5.1 million in fiscal year 2017 , and $3.4 million in fiscal year 2016 , 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. The Company reviews the carrying value of its investments in Socotab and its other 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, 2018 , the Company determined that no such factors existed with respect to those investments. The Company's operations in Zimbabwe are deconsolidated under accounting requirements that apply under certain conditions to foreign subsidiaries that are subject to foreign exchange controls and other government restrictions. Since deconsolidation, 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, 2018 and 2017 . 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 year 2018, the Company purchased the noncontrolling interest of one subsidiary for $0.6 million . Other than this transaction, there were no changes in the Company’s ownership percentage in any of these subsidiaries during fiscal years 2016 , 2017 , or 2018 . 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 undiscounted and 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 the 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, 2018 , 2017 , and 2016 Fiscal Year Ended March 31, 2018 2017 2016 Equity in pretax earnings reported in the consolidated statements of income $ 9,125 $ 5,774 $ 5,422 Less: Equity in income taxes (2,063 ) (1,092 ) (2,156 ) Equity in net income 7,062 4,682 3,266 Less: Dividends received on investments (1) (5,541 ) (5,078 ) (3,422 ) Equity in net income, net of dividends, reported in the consolidated statements of cash flows $ 1,521 $ (396 ) $ (156 ) (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. For fiscal years prior to 2018 , dividends paid on the Company’s Series B 6.75% Convertible Perpetual Preferred Stock prior to its conversion (see Note 11) were deducted in determining earnings available to common shareholders. 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 include unvested restricted stock units and performance share awards that are assumed to be fully vested and paid out in shares of common stock, dilutive stock options and stock appreciation rights that were assumed to be exercised, and shares of convertible perpetual preferred stock that were assumed to be converted when the effect was dilutive (prior to their actual conversion). In periods when the effect of the convertible perpetual preferred stock was dilutive and those shares were assumed to be converted into common stock, dividends paid on the preferred stock were excluded from the calculation of diluted earnings per share. Calculations of earnings per share for the fiscal years ended March 31, 2018 , 2017 , and 2016 , 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 $150 million at March 31, 2018 and $134 million at March 31, 2017 . The related valuation allowances totaled $22 million at March 31, 2018 , and $27 million at March 31, 2017 , 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 $3.7 million in fiscal year 2018 and $0.8 million in fiscal year 2016 , but reduced by net recoveries of approximately $0.9 million in fiscal year 2017 . These net provisions and recoveries 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 $8 million at March 31, 2018 and $11 million at March 31, 2017 . Inventories Tobacco inventories are valued at the lower of cost or net realizable value. 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 net realizable value. 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, 2018 and 2017 , the aggregate balances of recoverable tax credits held by the Company’s subsidiaries totaled approximately $49 million and $45 million , respectively, and the related valuation allowances totaled approximately $15 million and $13 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 property, 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 2018 , 2017 , or 2016 . 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 and is reviewed for potential impairment on an annual basis as of the end of the fiscal year. 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, 2018 and 2017 . 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 2018 , 2017 , or 2016 . 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). In fiscal year 2017, impairment charges of $2.3 million were incurred on factory and equipment assets as a result of the Company's decision to close its tobacco processing facility in Hungary (see Note 2). No significant charges for the impairment of long-lived assets were recorded during fiscal years 2018 or 2016 . 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. Income taxes provided on pretax amounts recorded in accumulated other comprehensive income (loss) are released when the related pretax amounts are reclassified to earnings. 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, 2018 . In periods when fixed-rate obligations are outstanding, fair values are estimated using market prices where they are available or 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 gains of $0.2 million in fiscal year 2018 , and net remeasurement losses of $9.3 million in fiscal year 2017 and $22.5 million in fiscal year 2016 . 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 losses of $0.1 million in fiscal year 2018 and $1.3 million in fiscal year 2017 , and net transaction gains of $8.0 million in fiscal year 2016 . 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. The customers typically 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, 2018 . 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 later 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. As discussed further under "Accounting Pronouncements" below, the Company will adopt updated comprehensive accounting guidance for revenue recognition at the beginning of fiscal year 2019. No material changes to the amount or timing of the Company's revenues are expected with the adoption of this guidance. Stock-Based Compensation Share-based payments, such as grants of restricted stock units, performance share awards, restricted stock, stock appreciation rights, and stock options, 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 Adopted in Fiscal Years 2016 through 2018 In April 2015, the Financial Accounting Standards Board ("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 was effective for fiscal years beginning after December 31, 2015. The Company adopted ASU 2015-03 effective for the quarter ending June 30, 2016, which was the first quarter of the fiscal year ending March 31, 2017. The implementation of ASU 2015-03, which required retrospective application, resulted in the reclassification of unamortized debt issuance costs totaling less than $2 million from other noncurrent assets to long-term debt for comparative prior periods. In April 2015, the FASB issued Accounting Standards Update 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software - Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” (“ASU 2015-05”). ASU 2015-05 requires customers who enter into a cloud computing arrangement that includes a software license to account for the arrangement as an intangible asset. If the cloud computing arrangement does not include a software license, the arrangement is accounted for as a service contract. The guidance was effective for fiscal years beginning after December 31, 2015, and allowed for retrospective or prospective adoption. The Company prospectively adopted ASU 2015-05 effective as of April 1, 2016, the beginning of fiscal year 2017. The Company’s adoption of ASU 2015-05 did not have a material impact on its consolidated financial statements. In May 2015, the FASB issued Accounting Standards Update No. 2015-07, "Fair Value Measurement, Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share or its Equivalent" ("ASU 2015-07"). ASU 2015-07 removed the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient and eliminated certain disclosures for investments that are eligible to be measured at fair value using the net asset value per share practical expedient. The Company adopted ASU 2015-07 effective as of April 1, 2016, the beginning of fiscal year 2017. Disclosures for all periods presented in Note 9 - Fair Value Measurements reflect the revised category presentation. 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 was effective for fiscal years beginning after December 31, 2016, and was adopted by the Company effective April 1, 2017, the beginning of fiscal year 2018. As required under the guidance, ASU 2015-11 has been applied prospectively after the date of adoption, and its adoption did not have a material impact on the Company's 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 was effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company elected to early-adopt ASU 2016-09 effective April 1, 2016, which was the beginning of its fiscal year ending March 31, 2017. As required by the guidance, employee tax withholding payments and excess tax benefits resulting from stock-based compensation have been classified as financing activities and operating activities, respectively, in the consolidated statements of cash flows for all periods presented. In August 2017, the FASB issued Accounting Standards Update No. 2017-12, "Derivatives and Hedging (Topic 815)" ("ASU 2017-12"). ASU 2017-12 expands derivative strategies that quality for hedge accounting and amends presentation and disclosure requirements. The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company elected to early-adopt ASU 2017-12 in the fourth quarter of fiscal year 2018. As required under the guidance, ASU 2017-12 has been applied using the modified retrospective approach and its adoption did not have a material impact on the Company's consolidated financial statements. In February 2018, the FASB issued Accounting Standards Update No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220) - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" ("ASU 2018-02") to address the disproportionate income tax effects on pretax amounts recorded in accumulated other comprehensive income (loss) resulting from the enactment of the Tax Cuts and Jobs Act in December 2017. Under the existing accounting guidance, companies were required to record the impact of changes in deferred income tax assets and liabilities from the enactment of the new law through income from continuing operations, including the impact related to pretax amounts recorded in accumulated other comprehensive income (loss). As a result, the income tax effects on amounts recorded in accumulated other comprehensive income (loss) were not reflective of the rates at which those amounts ultimately would be taxed. ASU 2018-02 permits companies to reclassify these disproportionate tax effects from accumulated other comprehensive income (loss) to retained earnings. It is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company elected to early-adopt ASU 2018-02 in the fourth quarter of fiscal year 2018 and reclassify the disproportionate tax effects to retained earnings as allowed under the guidance. The reclassification increased accumulated other comprehensive loss and increased retained earnings by approximately $12.4 million . 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 requires more management judgment and involves 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 modified retrospective transition method that recognizes the cumulative e

Restructuring Costs

Restructuring Costs	12 Months Ended
	Mar. 31, 2018
Restructuring Costs [Abstract]
Restructuring Costs	RESTRUCTURING AND IMPAIRMENT COSTS During fiscal years ended March 31, 2017 and 2016 , Universal recorded restructuring and impairment costs related to various initiatives to adjust certain operations and reduce costs. Those costs primarily related to operations that are part of the Other Regions reportable segment of the Company's flue-cured and burley leaf tobacco operations. There were no restructuring or impairment costs recorded for the fiscal year ended March 31, 2018 . Fiscal Year Ended March 31, 2017 In fiscal year 2017, the Company recorded restructuring and impairment costs totaling $4.4 million , primarily related to the Company's decision to close its tobacco processing facility in Hungary. The Company now processes tobaccos sourced from Hungary in its factories in Italy. The costs incurred for the change in operations in Hungary included statutory employee termination benefits and impairment charges related to certain property and equipment. Restructuring costs were also incurred in connection with downsizing efforts at several other locations around the Company. 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 primarily 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. A summary of the restructuring and impairment costs incurred during the fiscal years ended March 31, 2017 and 2016 , is as follows: Fiscal Years Ended March 31, 2017 2016 Restructuring Costs: Employee termination benefits $ 2,083 $ 1,629 Other restructuring costs — 96 2,083 1,725 Impairment Costs: Property and equipment and farmer loans 2,276 664 Total restructuring and impairment costs $ 4,359 $ 2,389 A reconciliation of the Company’s liability for employee termination benefits and other restructuring costs for fiscal years 2016 through 2018 is as follows: Employee Termination Benefits Other Costs Total Balance at April 1, 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 Fiscal Year 2017 Activity: Costs charged to expense 2,083 — 2,083 Payments (1,861 ) (159 ) (2,020 ) Balance at March 31, 2017 301 43 344 Fiscal Year 2018 Activity: Payments (272 ) (43 ) (315 ) Balance at March 31, 2018 $ 29 $ — $ 29 The restructuring liability at March 31, 2018 is expected to be paid during fiscal year 2019 . 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 and impairment 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, 2018
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) 2018 2017 2016 Basic Earnings Per Share Numerator for basic earnings per share Net income attributable to Universal Corporation $ 105,662 $ 106,304 $ 109,016 Less: Dividends on convertible perpetual preferred stock — (11,061 ) (14,748 ) Less: Cost in excess of carrying value on conversion or repurchase of convertible perpetual preferred stock — (74,353 ) — Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share 105,662 20,890 94,268 Denominator for basic earnings per share Weighted average shares outstanding 25,274,975 23,433,860 22,683,290 Basic earnings per share $ 4.18 $ 0.89 $ 4.16 Diluted Earnings Per Share Numerator for diluted earnings per share Earnings available to Universal Corporation common shareholders $ 105,662 $ 20,890 $ 94,268 Add: Dividends on convertible perpetual preferred stock (if conversion assumed) — — 14,748 Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share 105,662 20,890 109,016 Denominator for diluted earnings per share: Weighted average shares outstanding 25,274,975 23,433,860 22,683,290 Effect of dilutive securities (if conversion or exercise assumed) Convertible perpetual preferred stock — — 4,853,268 Employee and outside director share-based awards 233,169 336,228 288,933 Denominator for diluted earnings per share 25,508,144 23,770,088 27,825,491 Diluted earnings per share $ 4.14 $ 0.88 $ 3.92 In December 2016, 111,072 shares of the Company’s Series B 6.75% Convertible Perpetual Preferred Stock were converted into approximately 2.5 million shares of the Company's common stock. In January 2017, the Company announced a mandatory conversion of all 107,418 remaining outstanding shares of the preferred stock after meeting the requirements to initiate the mandatory conversion under the original terms of the preferred shares. The Company chose to satisfy the conversion obligation for the mandatory conversion in cash. Although the conversions of the preferred stock into common stock or for cash did not impact the Company’s net income, the shares converted for cash under the mandatory conversion in January 2017 resulted in a one-time reduction of retained earnings of approximately $74.4 million during the fourth quarter ended March 31, 2017, representing the excess of the conversion cost over the carrying value of those shares. The reduction in retained earnings resulted in a corresponding one-time reduction of earnings available to common shareholders for the fiscal year ended March 31, 2017 for purposes of determining the amounts reported for basic and diluted earnings per share. The effects of the conversions on the computation of basic and diluted earnings per share for the fiscal year ended March 31, 2017, are included in the table above. See Note 11 for additional information. For the fiscal year ended March 31, 2016 , the Company had 133,600 of potentially dilutive common shares (stock appreciation rights) outstanding that were not included in the computation of diluted earnings per share because their effect would have been antidilutive. The weighted-average exercise price of those shares was $62.66 . There were no potentially dilutive common shares outstanding at March 31, 2017 or 2018.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2018
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 and the effect of exchange rate changes on deferred taxes. In December 2017, the Tax Cuts and Jobs Act of 2017 was passed by the United States Congress and signed into law by the President. This new law made significant changes to income taxation at the federal level for individuals, pass-through entities, and corporations. For corporations, the changes include a reduction in the statutory rate on taxable income from 35% to 21% , and a move from a worldwide tax system to a territorial tax system for companies with foreign operations. Under the territorial system, except in limited situations or for limited types of income, earnings from foreign operations will generally no longer be subject to U.S. taxation. The law accommodates the move from the previous worldwide tax system by providing for a one-time transition tax on the undistributed post-1986 earnings of foreign subsidiaries as of either November 2, 2017 or December 31, 2017, whichever undistributed earnings amount is greater. Other provisions of the new law allow for immediate expensing of investments in property, plant, and equipment, and impose limitations on the deductibility of interest, executive compensation, and meals and entertainment expense. For the fiscal year ended March 31, 2018, the Company's U.S. federal statutory tax rate was 31.5% , reflecting a portion of the year at the 35% rate under the old law and a portion at the 21% rate under the new law. Under the applicable accounting guidance, corporations are required to account for the effects of changes in income tax law on their financial statements as a component of taxes provided on income from continuing operations in the period those changes are enacted, which for Universal was the third quarter of fiscal year 2018. Due to the complexities associated with understanding and applying various aspects of the new law and quantifying or estimating amounts upon which calculations required to account for new law are based, the U.S. Securities and Exchange Commission (“SEC”) recognized that it may be difficult for many companies to complete the determination of all accounting effects of the new law within the available time frame for issuing their financial statements for the period of enactment. As a result, the SEC provided guidance permitting corporations to record and report specific items impacted by the new law on the basis of reasonable estimates where final amounts had not been determined and designate them as provisional amounts, or to continue to account for specific items under the previous law if it was not possible to develop reasonable estimates within the time frame for issuance of the financial statements for the period of enactment. As the accounting for provisional amounts is refined or finalized in subsequent reporting periods, companies are expected to record appropriate adjustments to the initial accounting, removing the provisional designation on an item in the period that the accounting for that item is completed. A measurement period of no more than one year from the date of enactment of the new law is provided under the SEC guidance to complete all such adjustments. The most significant effects on Universal’s financial statements for fiscal year 2018 from the enactment of the new law were: (1) the reduction in the federal income tax rate on U.S. pretax earnings for fiscal year 2018 from 35% to 31.5% . (2) an adjustment of recorded deferred tax assets and liabilities to the tax rates at which they are expected to reverse in the future. (3) a reduction of the liability previously recorded for U.S. income taxes on undistributed earnings of foreign subsidiaries to the amounts expected to be paid under the one-time transition tax provisions of the new law. The net impact of accounting for these and other less significant effects of the new law was a reduction in consolidated income tax expense for fiscal year 2018 of approximately $4.5 million . Upon enactment of the new law in the third quarter of the year, the Company recorded an initial reduction in income tax expense of approximately $10.5 million under the provisional accounting guidance; however, that amount was lowered by approximately $6.0 million in the fourth quarter, reflecting the collection and analysis of additional information for certain foreign subsidiaries, as well as subsequent clarifying guidance issued with respect to the new law. Included in the effect of the new law is a $7.8 million net increase in income tax expense from remeasuring net deferred tax assets to the lower rates at which they are now expected to reverse, generally the new 21% U.S. federal statutory tax rate. That net increase includes approximately $12.4 million of net tax expense from remeasuring net deferred tax assets attributable to pension and other postretirement benefit plans, foreign currency translation adjustments, and other amounts that were recorded through other comprehensive income to the new lower rates, which initially left disproportionate tax effects recorded on the pretax amounts in accumulated other comprehensive income (loss). As discussed in Note 1, the FASB issued ASU 2018-02 "Income Statement - Reporting Comprehensive Income (Topic 220) - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" to address this issue by allowing companies to reclassify the disproportionate tax effects from accumulated other comprehensive income (loss) to retained earnings. The Company elected to early-adopt ASU 2018-02 in the fourth quarter of fiscal year 2018 and chose to reclassify the disproportionate tax effects. The reclassification increased accumulated other comprehensive loss and increased retained earnings by approximately $12.4 million . Also included in the $4.5 million net reduction in fiscal year 2018 income tax expense for the effect of the new law is a $10 million reduction of income tax expense primarily related to the undistributed earnings of foreign subsidiaries. Prior to the enactment of the new law, under its accounting for income taxes, the Company had no undistributed earnings of consolidated foreign subsidiaries that were classified as permanently reinvested, and accordingly had recorded the full tax liability on those earnings, including both local country taxes and the U.S. taxes expected to be paid on their future distribution. The new law replaces the U.S. income tax that would have been paid on those earnings in the future with the one-time transition tax, which is allowed to be paid over an eight-year period. The total liability recorded by the Company for this transition tax, net of available foreign tax credits, is approximately $15.8 million , and the $10 million reduction of income tax expense primarily related to undistributed foreign earnings reflects the adjustment of the U.S. tax liability previously recorded on those earnings to the transition tax amount. The Company continues to assume repatriation of all undistributed earnings of its consolidated foreign subsidiaries and has therefore provided for expected foreign withholding taxes on the distribution of those earnings where applicable, net of the U.S. tax credit attributable those withholding taxes. While the Company has not continued to account for any specific items under the previous tax law as permitted by the SEC guidance, the Company is continuing to review the primary component effects of the new law on its financial statements. In addition, the Company continues to analyze certain aspects of the new law, and future treasury regulations, tax law technical corrections, notices, rulings, and other guidance issued by the government could result in changes or refinements to the amounts currently recorded. These include potential refinements of the Company's calculations of the adjustments to deferred tax assets and liabilities and the U.S. tax liability for undistributed foreign earnings, which could be adjusted based on continuing review of the Company's calculation of the one-time transition tax, including further analysis of the undistributed earnings amounts represented by cash and other specified assets held by its foreign subsidiaries. As a result, those amounts continue to be classified as provisional, and additional adjustments, which could be material, may be recorded in future reporting periods within the allowed one-year measurement period as the final accounting is completed. Income Tax Expense Income taxes for the fiscal years ended March 31, 2018 , 2017 , and 2016 consisted of the following: Fiscal Year Ended March 31, 2018 2017 2016 Current United States $ 1,110 $ 3,422 $ 5,371 State and local 175 147 1,116 Foreign 60,356 36,537 32,897 61,641 40,106 39,384 Deferred United States (20,052 ) 5,434 5,780 State and local 68 561 (445 ) Foreign 8,852 10,631 9,711 (11,132 ) 16,626 15,046 Total $ 50,509 $ 56,732 $ 54,430 Foreign taxes include any applicable U.S. tax expense on the earnings of foreign subsidiaries. Consolidated Effective Income Tax Rate A reconciliation of the U.S. federal statutory rate to the Company’s effective income tax rate is as follows: Fiscal Year Ended March 31, 2018 2017 2016 U.S. federal statutory tax rate 31.5 % 35.0 % 35.0 % State income taxes, net of federal benefit 0.1 0.3 0.3 Dividends received from deconsolidated operations (1.4 ) (2.3 ) (1.5 ) Effect of exchange rate changes on deferred income taxes — 0.4 (1.6 ) Effects of new tax law: Foreign earnings taxed at rates above the U.S. federal statutory tax rate 2.8 — — Adjustment of deferred tax assets and liabilities 4.6 — — Reduction of U.S. tax liability on undistributed foreign earnings to estimate of one-time transition tax (8.3 ) — — Other, including changes in liabilities recorded for uncertain tax positions 1.0 0.1 (0.7 ) Effective income tax rate 30.3 % 33.5 % 31.5 % 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, 2018 2017 2016 United States $ 10,442 $ 31,468 $ 37,877 Foreign 156,235 137,770 134,701 Total $ 166,677 $ 169,238 $ 172,578 Deferred Income Tax Liabilities and Assets Significant components of deferred tax liabilities and assets were as follows: March 31, 2018 2017 Liabilities Foreign withholding taxes $ 25,987 $ 44,702 Undistributed earnings 8,636 24,629 Goodwill 19,529 30,851 All other 9,039 11,015 Total deferred tax liabilities $ 63,191 $ 111,197 Assets Employee benefit plans $ 21,714 $ 38,804 Reserves and accruals 9,673 11,756 Deferred income 4,878 4,672 Currency translation losses of foreign subsidiaries 1,993 13,244 Local currency exchange losses of foreign subsidiaries 843 3,669 Foreign tax credit carryforward — 2,799 All other 6,522 14,327 Total deferred tax assets 45,623 89,271 Valuation allowance (1,040 ) (636 ) Net deferred tax assets $ 44,583 $ 88,635 At March 31, 2018 , 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, 2018 2017 2016 Continuing operations $ 50,509 $ 56,732 $ 54,430 Other comprehensive income 23,471 1,503 1,423 Direct adjustments to shareholders' equity — — (805 ) Total $ 73,980 $ 58,235 $ 55,048 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, 2018 , 2017 and 2016 , is as follows: Fiscal Year Ended March 31, 2018 2017 2016 Liability for uncertain tax positions, beginning of year $ 2,426 $ 2,407 $ 2,894 Additions: Related to tax positions for the current year 107 94 98 Related to tax positions for prior years 1,310 — — Reductions: Due to lapses of statutes of limitations (104 ) (112 ) (215 ) Related to tax positions for prior years — (3 ) — Effect of currency rate movement (66 ) 40 (370 ) Liability for uncertain tax positions, end of year $ 3,673 $ 2,426 $ 2,407 Of the total liability for uncertain tax positions at March 31, 2018 , approximately $3.6 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, 2019 . 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 2016 through 2018 , and liabilities recorded for interest and penalties at March 31, 2018 and 2017 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, 2018 , the Company's earliest open tax year for U.S. federal income tax purposes was its fiscal year ended March 31, 2015 . Open tax years in state and foreign jurisdictions generally range from 3 to 6 years.

Credit Facilities

Credit Facilities	12 Months Ended
	Mar. 31, 2018
Line of Credit Facility [Abstract]
Credit Facilities	CREDIT FACILITIES Bank Credit Agreement The Company has in place a senior unsecured bank credit agreement that includes 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, 2018 . 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, 2018 . 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, 2018 and 2017 , approximately $45 million and $59 million , respectively, were outstanding under these uncommitted lines of credit. The weighted-average interest rates on short-term borrowings outstanding as of March 31, 2018 and 2017 , were approximately 3.4% and 3.1% , respectively. At March 31, 2018 , the Company and its consolidated affiliates had unused uncommitted lines of credit totaling approximately $248 million .

Long-Term Debt

Long-Term Debt	12 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	LONG-TERM DEBT The Company's long-term debt at March 31, 2018 and 2017 consisted of the following: March 31, 2018 2017 Senior bank term loans $ 370,000 $ 370,000 Total outstanding 370,000 370,000 Less: current portion — — Less: unamortized debt issuance costs (914 ) (1,267 ) Long-term debt $ 369,086 $ 368,733 As discussed in Note 5, the Company has in place a bank credit agreement that includes a $150 million five -year term loan and a $220 million seven -year term loan. The 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 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, 2018 and 2017 . 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 2017, 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, 2018
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 $ 16.0 million in fiscal year 2018 , $ 15.3 million in fiscal year 2017 , and $ 14.7 million in fiscal year 2016 . Future minimum payments under non-cancelable operating leases total $ 13.5 million in 2019 , $ 9.7 million in 2020 , $ 8.2 million in 2021 , $ 5.3 million in 2022 , $ 4.5 million in 2023 , and $ 10.3 million after 2023 .

Derivatives And Hedging Activit

Derivatives And Hedging Activities	12 Months Ended
	Mar. 31, 2018
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 comprehensive 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 Notes 5 and 6). 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, 2018 , the total notional amount of the interest rate swaps was $370 million , which corresponded with the aggregate outstanding balance of the term loans. 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 2018 , 2017 , and 2016 was as follows: Fiscal Year Ended March 31, (in millions) 2018 2017 2016 Tobacco purchases $ 43.3 $ 70.7 $ 43.1 Processing costs 17.1 24.0 13.2 Total $ 60.4 $ 94.7 $ 56.3 The increased U.S. dollar notional amounts for tobacco purchases and processing costs hedged during fiscal year 2017 in part reflected an increase in the size of the 2017 Brazilian crop over the 2016 crop. In addition, variations in the amount and timing of fixed-price orders from customers for their purchases from individual crop years routinely cause variations in the U.S. dollar notional amount of forward contracts entered into from one fiscal year to the next. All contracts related to tobacco purchases were designated and qualified 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, 2018 , the Company expects to complete the sale of the tobacco and recognize the amounts in earnings during fiscal year 2019 . At March 31, 2018 , 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 2018 Brazilian crops are expected to be completed by July 2018, and all forward contracts to hedge those purchases will mature and be settled by that time. As discussed in Note 1, during the quarter ended March 31, 2018, the Company elected to early adopt recently-issued changes to the accounting guidance for derivatives and hedging activities (ASU 2017-12) to allow the application of the updated guidance to all forward foreign currency exchange contracts that will be entered to hedge exchange rate risk on the 2018 Brazilian crop purchases. The updated guidance simplifies the designation of those contracts as hedges, as well as the ongoing assessment of hedge effectiveness, but did not otherwise materially impact the Company's accounting for those contracts. 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 or liability 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 the fiscal years ended March 31, 2018 , 2017 , and 2016 , the Company used forward currency contracts to manage its exposure to currency remeasurement risk in Brazil. The total notional amounts of contracts outstanding at March 31, 2018 and 2017 were approximately $27.3 million and $33.0 million , respectively. At March 31, 2016 , the net local monetary asset position in Brazil was not significant, and there were no foreign currency contracts outstanding. 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, 2018 , 2017 , and 2016 . Fiscal Year Ended March 31, 2018 2017 2016 Cash Flow Hedges - Interest Rate Swap Agreements Derivative Effective Portion of Hedge Gain (loss) recorded in accumulated other comprehensive loss $ 4,869 $ 8,999 $ (12,824 ) Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ (1,244 ) $ (3,916 ) $ (5,108 ) 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 $ (1,204 ) $ 454 $ 1,774 Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ (1,099 ) $ 945 $ 993 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 $ (5 ) $ 246 $ 685 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 $ (234 ) $ (2,591 ) $ 5,973 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 $0.1 million net hedge loss, representing unrealized losses on contracts related to the 2018 crop, remained in accumulated other comprehensive loss at March 31, 2018 . No hedge gain or loss had been reclassified to earnings at March 31, 2018 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 2019 as the 2018 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, 2018 and 2017 : 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, 2018 2017 2018 2017 Derivatives Designated as Hedging Instruments Interest rate swap agreements Other non-current assets $ 8,262 $ 2,149 Other long-term liabilities $ — $ — Forward foreign currency exchange contracts Other current assets 19 56 Accounts payable and accrued expenses 123 55 Total $ 8,281 $ 2,205 $ 123 $ 55 Derivatives Not Designated as Hedging Instruments Forward foreign currency exchange contracts Other current assets $ 341 $ 917 Accounts payable and accrued expenses $ 269 $ 120 Total $ 341 $ 917 $ 269 $ 120 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, 2018
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. As permitted under the accounting guidance, the Company uses net asset value per share ("NAV") as a practical expedient to measure the fair value of its money market funds. The fair values for those funds are presented under the heading "NAV" in the tables that follow in this disclosure. 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, 2018 and 2017 , 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 or the NAV practical expedient: March 31, 2018 Fair Value Hierarchy NAV Level 1 Level 2 Level 3 Total Assets Money market funds $ 89,767 $ — $ — $ — $ 89,767 Trading securities associated with deferred compensation plans — 17,519 — — 17,519 Interest rate swap agreements — — 8,262 — 8,262 Forward foreign currency exchange contracts — — 360 — 360 Total financial assets measured and reported at fair value $ 89,767 $ 17,519 $ 8,622 $ — $ 115,908 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ — $ 974 $ 974 Forward foreign currency exchange contracts — — 392 — 392 Total financial liabilities measured and reported at fair value $ — $ — $ 392 $ 974 $ 1,366 March 31, 2017 Fair Value Hierarchy NAV Level 1 Level 2 Level 3 Total Assets Money market funds $ 137,145 $ — $ — $ — $ 137,145 Trading securities associated with deferred compensation plans — 17,726 — — 17,726 Interest rate swaps — — 2,149 — 2,149 Forward foreign currency exchange contracts — — 973 — 973 Total financial assets measured and reported at fair value $ 137,145 $ 17,726 $ 3,122 $ — $ 157,993 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ — $ 1,177 $ 1,177 Forward foreign currency exchange contracts — — 175 — 175 Total financial liabilities measured and reported at fair value $ — $ — $ 175 $ 1,177 $ 1,352 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 NAV, which is the amount at which the funds are redeemable and is used as a practical expedient for fair value. These funds are not classified in the fair value hierarchy, but are disclosed as part of the fair value table above. 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. 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, 2018 and 2017 is provided below. Fiscal Year Ended March 31, 2018 2017 Balance at beginning of year $ 1,177 $ 1,628 Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio) (1,210 ) (2,550 ) Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans) 1,044 1,854 Change in discount rate and estimated collection period 28 59 Currency remeasurement (65 ) 186 Balance at end of year $ 974 $ 1,177 Long-term Debt The fair value of the Company’s long-term debt was approximately $370 million at each of the balance sheet dates March 31, 2018 and 2017 . 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, 2018
Defined Benefit Plan [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 salaried and certain hourly employees in the U.S., as well as 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 and retirees who have attained specific age and service levels, although postretirement life insurance benefits were discontinued several years ago for all employees who were not already retired. 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 2018 2017 2016 2018 2017 2016 Discount rates: Benefit cost for plan year 4.10 % 4.10 % 3.80 % 3.90 % 3.80 % 3.70 % Benefit obligation at end of plan year 4.10 % 4.10 % 4.10 % 3.90 % 3.90 % 3.80 % Expected long-term return on plan assets: Benefit cost for plan year 7.00 % 7.00 % 7.25 % 3.00 % 3.00 % 3.00 % Salary scale: Benefit cost for plan year 4.00 % 4.00 % 4.50 % 4.00 % 4.00 % 4.50 % Benefit obligation at end of plan year 4.00 % 4.00 % 4.00 % 4.00 % 4.00 % 4.00 % Healthcare cost trend rate N/A N/A N/A 8.10 % 6.70 % 7.00 % 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 expected long-term return on plan assets is developed from financial models used to project future returns on the underlying assets of the funded plans and is reviewed on an annual basis. The healthcare cost trend rate used by the Company is based on a study of medical cost inflation rates that is reviewed and updated annually for continued applicability. The revised trend assumption of 8.10% in 2018 declines gradually to 4.50% in 2026 . The Company has caps in place on postretirement medical benefits that limit its cost for a large segment of the retiree population. As a result, changes to the healthcare cost trend rate have a limited impact on the postretirement medical plan liability and expense. Benefit Obligations, Plan Assets, and Funded Status The following table reflects the changes in benefit obligations and plan assets in 2018 and 2017 , as well as the funded status of the plans at March 31, 2018 and 2017 : Pension Benefits Other Postretirement Benefits March 31, March 31, 2018 2017 2018 2017 Actuarial present value of benefit obligation: Accumulated benefit obligation $ 270,666 $ 266,764 Projected benefit obligation 273,658 269,250 $ 32,945 $ 36,786 Change in projected benefit obligation: Projected benefit obligation, beginning of year $ 269,250 $ 275,505 $ 36,786 $ 37,225 Service cost 5,177 5,382 229 247 Interest cost 10,801 10,441 1,471 1,535 Effect of discount rate change 1,209 489 612 (191 ) Foreign currency exchange rate changes 1,268 (1,111 ) (151 ) 286 Settlements — (10,955 ) — — Other 781 4,108 (3,212 ) 766 Benefit payments (14,828 ) (14,609 ) (2,790 ) (3,082 ) Projected benefit obligation, end of year $ 273,658 $ 269,250 $ 32,945 $ 36,786 Change in plan assets: Plan assets at fair value, beginning of year $ 220,151 $ 217,859 $ 3,054 $ 1,565 Actual return on plan assets 15,902 16,450 105 71 Employer contributions 7,891 10,676 3,098 4,500 Settlements — (10,322 ) — — Foreign currency exchange rate changes 452 97 — — Benefit payments (14,828 ) (14,609 ) (2,790 ) (3,082 ) Plan assets at fair value, end of year $ 229,568 $ 220,151 $ 3,467 $ 3,054 Funded status: Funded status of the plans, end of year $ (44,090 ) $ (49,099 ) $ (29,478 ) $ (33,732 ) The settlements for pension benefits in fiscal year 2017 were attributable to the termination of a foreign pension plan during the year and the transfer of assets in settlement of the participants' benefit obligations to defined contribution plans. 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 87% of the $44.1 million unfunded pension obligation and approximately 95% of the $29.5 million unfunded postretirement benefit obligation shown on the funded status line in the above table at March 31, 2018 . The funded status of the Company’s plans at the end of fiscal years 2018 and 2017 was reported in the consolidated balance sheets as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2018 2017 2018 2017 Non-current asset (included in other noncurrent assets) $ 2,308 $ 1,710 $ — $ — Current liability (included in accounts payable and accrued expenses) (8,599 ) (1,106 ) (2,431 ) (2,746 ) Non-current liability (reported as pensions and other postretirement benefits) (37,796 ) (49,703 ) (27,047 ) (30,986 ) Amounts recognized in the consolidated balance sheets $ (44,087 ) $ (49,099 ) $ (29,478 ) $ (33,732 ) Additional information on the funded status of the Company’s plans as of the respective measurement dates for the fiscal years ended March 31, 2018 and 2017 , is as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2018 2017 2018 2017 For plans with a projected benefit obligation in excess of plan assets: Aggregate projected benefit obligation (PBO) $ 261,581 $ 260,826 $ 32,945 $ 36,786 Aggregate fair value of plan assets 215,182 210,017 3,467 3,054 For plans with an accumulated benefit obligation in excess of plan assets: Aggregate accumulated benefit obligation (ABO) 258,708 258,424 N/A N/A Aggregate fair value of plan assets 215,182 210,017 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, 2018 2017 2016 2018 2017 2016 Components of net periodic benefit cost: Service cost $ 5,177 $ 5,382 $ 5,953 $ 229 $ 247 $ 286 Interest cost 10,801 10,441 10,037 1,471 1,535 1,539 Expected return on plan assets (15,962 ) (15,154 ) (15,110 ) (87 ) (42 ) (58 ) Settlement gain — (912 ) — — — — Net amortization and deferral 3,735 4,576 4,394 (620 ) (394 ) (431 ) Net periodic benefit cost $ 3,751 $ 4,333 $ 5,274 $ 993 $ 1,346 $ 1,336 A one-percentage-point increase or decrease in the assumed healthcare cost trend rate would not result in a significant change to the March 31, 2018 accumulated postretirement benefit obligation or the aggregate service and interest cost components of the net periodic postretirement benefit expense for fiscal year 2019 . 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 2018 and 2017 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, 2018 2017 2018 2017 Change in net actuarial loss (gain): Net actuarial loss (gain), beginning of year $ 74,045 $ 79,299 $ (6,286 ) $ (7,234 ) Losses (gains) arising during the year 1,390 2,313 (1,580 ) 554 Amortization included in net periodic benefit cost during the year (6,102 ) (7,567 ) 619 394 Net actuarial loss (gain), end of year 69,333 74,045 (7,247 ) (6,286 ) Change in prior service cost (benefit): Prior service cost (benefit), beginning of year (12,070 ) (15,061 ) (112 ) (108 ) Prior service cost (benefit) arising during the year — — (867 ) (4 ) Amortization included in net periodic benefit cost during the year 2,367 2,991 14 — Prior service cost (benefit), end of year (9,703 ) (12,070 ) (965 ) (112 ) Total amounts in accumulated other comprehensive loss at end of year, before income taxes $ 59,630 $ 61,975 $ (8,212 ) $ (6,398 ) 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 amounts related to ownership interests in unconsolidated affiliates. The Company expects to recognize approximately $5.2 million of the March 31, 2018 net actuarial loss and $2.4 million of the March 31, 2018 prior service benefit in net periodic benefit cost during fiscal year 2019 . 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 94% of consolidated plan assets and 82% of consolidated PBO at March 31, 2018 , 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. 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, 2018 measurement date and the actual asset allocations at the March 31, 2018 and 2017 measurement dates by major asset category were as follows: Actual Allocation Target Allocation March 31, Major Asset Category Range 2018 2017 Equity securities 29.0 % 19 % - 39% 27.4 % 31.9 % Fixed income securities (1) 66.0 % 56 % - 76% 65.9 % 61.7 % Alternative investments 5.0 % 0 % - 10% 6.7 % 6.4 % 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 $15.3 million to its defined benefit pension plans in fiscal year 2019 , including $6.0 million to its ERISA-regulated U.S. plan and $9.3 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 2019 $ 22,601 $ 2,819 2020 16,117 2,726 2021 17,622 2,639 2022 17,235 2,536 2023 17,497 2,458 2024 - 2028 91,433 10,971 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, 2018 and 2017 , classified based on how their values were determined under the fair value hierarchy are as follows: March 31, 2018 Level 1 Level 2 Level 3 Total Equity securities $ 58,667 $ — $ — $ 58,667 Fixed income securities (1) 142,329 10,836 3,550 156,715 Alternative investments — — 14,186 14,186 Total investments $ 200,996 $ 10,836 $ 17,736 $ 229,568 March 31, 2017 Level 1 Level 2 Level 3 Total Equity securities $ 65,637 $ — $ — $ 65,637 Fixed income securities (1) 128,214 10,134 3,072 141,420 Alternative investments — — 13,094 13,094 Total investments $ 193,851 $ 10,134 $ 16,166 $ 220,151 (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 $2.3 million for fiscal year 2018 , $2.6 million for fiscal year 2017 , and $2.4 million for fiscal year 2016 .

Common And Preferred Stock

Common And Preferred Stock	12 Months Ended
	Mar. 31, 2018
Class of Stock Disclosures [Abstract]
Common And Preferred Stock	COMMON AND PREFERRED STOCK Common Stock At March 31, 2018 , the Company’s shareholders had authorized 100,000,000 shares of its common stock, and 24,930,725 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. Preferred Stock Authorized and Outstanding Shares The Company is also authorized to issue up to 5,000,000 shares of preferred stock, 500,000 shares of which are reserved for Series A Junior Participating Preferred Stock and 220,000 of which were 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 were issued under this authorization. As discussed below, all of those shares were converted during fiscal year 2017, and none were outstanding at March 31, 2018 . Conversion of Series B 6.75% Convertible Perpetual Preferred Stock In December 2016, holders of 111,072 shares of the Series B 6.75% Convertible Perpetual Preferred Stock voluntarily exercised their conversion rights under the original issuance terms of the preferred shares. The Company chose to satisfy the full conversion obligation for those preferred shares with shares of its common stock, issuing 2,487,118 common shares at the applicable conversion rate in exchange for the preferred shares tendered. The consolidated balance sheet at March 31, 2017 reflected a non-cash reclassification of $107.6 million from preferred stock to common stock to reflect the conversion of those preferred shares. On January 9, 2017, the Company announced a mandatory conversion of all 107,418 remaining outstanding shares of the preferred stock after meeting the requirements to initiate the mandatory conversion under the original terms of the preferred shares. The Company chose to satisfy the conversion obligation for the mandatory conversion in cash, paying approximately $178.4 million for those preferred shares on January 31, 2017 to complete the conversion. With the completion of the mandatory conversion in January 2017, the Company’s outstanding equity securities consist only of its common stock. Dividend payments on the preferred shares, which previously totaled approximately $15 million annually, have been discontinued. Although the conversions of the preferred stock into common stock or for cash did not impact the Company’s net income, the shares converted for cash under the mandatory conversion in January 2017 resulted in a one-time reduction of retained earnings of approximately $74.4 million during the fourth quarter ended March 31, 2017, representing the excess of the conversion cost over the carrying value of those shares. The reduction in retained earnings resulted in a corresponding one-time reduction of earnings available to common shareholders for the fiscal year ended March 31, 2017 for purposes of determining the amounts reported for basic and diluted earnings per share. 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 2016 through 2018. The current program, which replaced an expiring program, was authorized and became effective on November 7, 2017. It authorizes the purchase of up to $100 million of the Company's outstanding common stock and expires on the earlier of November 15, 2019, or when the funds authorized for the program have been exhausted. At March 31, 2018 , $91 million of the authorization remained available for share repurchases under the current program. There were no share repurchases for the fiscal years ended March 31, 2017 and 2016 . Repurchases of common stock under the programs for the fiscal year ended March 31, 2018 were as follows: Fiscal Year Ended March 31, 2018 Number of shares repurchased 403,624 Cost of shares repurchased (in thousands of dollars) $ 21,610 Weighted-average cost per share $ 53.54

Executive Stock Plans And Stock

Executive Stock Plans And Stock-Based Compensation	12 Months Ended
	Mar. 31, 2018
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, the 2007 Stock Incentive Plan, and the 2017 Stock Incentive Plan. Together, these plans are referred to in this disclosure as the “Plans.” Up to 1,000,000 shares may be issued under the 2017 Stock Incentive Plan, with no specific share limit for any of the award types. New awards may no longer be issued under the 1997, 2002, and 2007 Plans. 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. In recent years, the Compensation Committee has awarded only grants of RSUs and PSAs. All stock options granted in previous years were either exercised or had expired before fiscal year 2016, and all SARs were either exercised or had expired by the end of fiscal year 2017. Outside directors automatically receive restricted stock units following each annual meeting of shareholders. Non-qualified stock options and SARs previously granted under the Plans had an exercise price equal to the market price of a share of common stock on the date of grant. SARs granted under the Plans vested in equal one-third tranches one, two, and three years after the grant date and expired 10 years after the grant date, except that SARs granted after fiscal year 2007 expired 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. SARs The following tables summarize the Company’s SAR activity and related information for fiscal years 2016 and 2017 : Shares Weighted-Average Exercise Price Fiscal Year Ended March 31, 2016: Outstanding at beginning of year 169,601 $ 59.82 Exercised (6,200 ) 51.32 Cancelled/expired (11,200 ) 62.66 Outstanding at end of year 152,201 59.96 Fiscal Year Ended March 31, 2017: Exercised (135,334 ) 61.72 Cancelled/expired (16,867 ) 45.82 Outstanding at end of year — $ — Fiscal Year Ended March 31, 2017 2016 Total intrinsic value of awards exercised $ 555 $ 26 Total fair value of awards vested $ — $ — Intrinsic value in the above table is based on the difference between the market price of the underlying shares at the exercise date and the exercise price of the SARs. RSUs, Restricted Stock, and PSAs The following table summarizes the Company’s RSU, restricted stock, and PSA activity for fiscal years 2016 through 2018 : 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, 2016: Unvested at beginning of year 264,397 $ 48.10 48,100 $ 42.33 153,475 $ 45.58 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 Fiscal Year Ended March 31, 2017: Granted 74,776 55.27 — — 58,805 49.17 Vested (51,544 ) 44.57 (17,900 ) 42.26 (52,230 ) 53.56 Forfeited (539 ) 55.63 — — (525 ) 49.17 Unvested at end of year 325,638 52.01 30,200 42.37 160,350 46.86 Fiscal Year Ended March 31, 2018: Granted 72,032 64.13 — — 39,100 60.37 Vested (60,751 ) 45.51 — — (41,667 ) 46.41 Forfeited — — — — (6,783 ) 46.41 Unvested at end of year 336,919 $ 55.77 30,200 $ 42.37 151,000 $ 50.50 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, 2018 , 2017 , and 2016 , total stock-based compensation expense and the related income tax benefit recognized were as follows: Fiscal Year Ended March 31, 2018 2017 2016 Total stock-based compensation expense $ 7,610 $ 6,475 $ 5,206 Income tax benefit recorded on stock-based compensation expense $ 2,397 $ 2,266 $ 1,822 At March 31, 2018 , the Company had $5.6 million of unrecognized compensation expense related to stock-based awards, which will be recognized over a weighted-average period of approximately 1.1 years .

Commitments And Other Matters

Commitments And Other Matters	12 Months Ended
	Mar. 31, 2018
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 where 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, 2018 , the Company had contracts to purchase approximately $644 million of tobacco to be delivered during the coming fiscal year and $114 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 short-term advances to farmers and other suppliers, which totaled approximately $123 million , net of allowances, at March 31, 2018 . 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 $52 million at March 31, 2018 . Guarantees and Other Contingent Liabilities Guarantees of Bank Loans and Other Contingent Liabilities Guarantees of bank loans to growers for crop financing have long been industry practice in Brazil and support the farmers’ production of tobacco there. The Company's operating subsidiary in Brazil had guarantees outstanding at March 31, 2018 , all of which 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, 2018 , was the face amount, $20 million including unpaid accrued interest ( $17 million as of March 31, 2017 ). The fair value of the guarantees was a liability of approximately $1 million at March 31, 2018 ( $1 million at March 31, 2017 ). In addition to these guarantees, the Company has other contingent liabilities totaling approximately $2 million at March 31, 2018 , 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 $17 million . These amounts are based on the exchange rate for the Brazilian currency at March 31, 2018 . 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, 2018 , a portion of the subsidiary's arguments had been accepted, and the outstanding assessment had been reduced, although interest on the remaining assessment has continued to accumulate. The reduced assessment, together with the related accumulated interest through the end of the current reporting period, totaled approximately $15 million at the March 31, 2018 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 $15 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, 2018 . With respect to the Parana assessment, management of the subsidiary and outside counsel challenged the full amount of the claim. A significant portion of the Parana assessment was 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, 2018 exchange rate, reflecting a substantial reduction from the original $17 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, 2018 . 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. Tanzania Fair Competition Commission Proceeding In June 2012, the Company’s Tanzanian subsidiary, Tanzania Leaf Tobacco Company Ltd. (“TLTC”), entered into a two crop-year supply agreement for unprocessed “green” tobacco with a newly-formed Tanzanian subsidiary of one of the Company’s major customers. The agreement involved green tobacco purchases from four of the approximately 400 grower cooperatives in Tanzania, which allowed the customer and its Tanzanian subsidiary on a small test basis to evaluate whether it would be a viable alternative for the customer to establish its own vertically integrated supply operations in that market. Prior to that time, the customer’s subsidiary did not exist, and it only purchased processed Tanzanian tobacco from tobacco dealers in specified amounts and only for certain grades and stalk positions. In contrast, the agreement with TLTC required the customer’s subsidiary to purchase green tobacco on a “run of crop” basis. “Run of crop” requires the purchase of all green tobacco produced on the tobacco plant, regardless of grade or stalk position. The agreement, therefore, enabled the customer’s subsidiary on a small test basis to evaluate the quality of green tobacco purchased on a “run of crop” basis and to assess how such tobacco would be suited to the customer's tobacco requirements. The customer unilaterally elected to establish its own vertically integrated supply operations in Tanzania after the expiration of the agreement, and its subsidiary began purchasing green tobacco directly from Tanzanian grower cooperatives during the second crop year thereafter. Despite the pro-competitive object and effect of the agreement between TLTC and the customer’s subsidiary, in October 2016, the Tanzania Fair Competition Commission (“FCC”) notified TLTC and the customer’s subsidiary that it reviewed the agreement and provisionally concluded that it infringed Tanzania antitrust law by having the object and effect of preventing competition in the purchase of unprocessed green tobacco in the area in which the four grower cooperatives were located. The FCC also provisionally concluded that the Company’s U.S. subsidiary, Universal Leaf Tobacco Company, Inc. (“ULT”), and additional subsidiaries of the customer, were jointly and severally liable for the actions of TLTC and the customer’s Tanzanian subsidiary, respectively. TLTC and ULT submitted a written response contesting the FCC’s allegations, and on February 27, 2018, the FCC issued its decision to TLTC and ULT which confirmed its initial conclusion that the agreement infringed Tanzanian antitrust law. In its decision, the FCC concluded incorrectly that the parties to the agreement unfairly benefited in the amount of $105 thousand . The FCC arbitrarily assessed a fine jointly against TLTC and ULT of approximately $197 million and a fine jointly against the customer’s Tanzanian subsidiary and another subsidiary of the customer exceeding $1 billion . TLTC and ULT have worked closely with expert legal advisors and economists on this matter. Based on these engagements and consultations, the Company firmly believes the FCC’s allegations are frivolous and clearly without merit or support from the facts, law or economic analysis. The Company further believes the FCC’s proceedings were rife with irregularities and did not comply with applicable legal and regulatory procedures with respect to this matter, including failing to establish jurisdiction over ULT or to offer a legal justification for including ULT in the proceeding. To the contrary, the Company believes the facts, law and economic analysis clearly support the legality and pro-competitive nature of the agreement and support a proper conclusion that there was no infringement of Tanzania antitrust law, and the agreement had no negative impact on the Tanzania tobacco market. The Company further believes the FCC’s proposed fine is ludicrous, unwarranted and contrary to Tanzania law. TLTC and ULT immediately appealed the FCC findings to the Tanzania Fair Competition Tribunal, which immediately stayed the execution of any FCC fines. The Company is unable to predict how long the appeal process will take; however, the Company believes it could last several years. At this time, the Company believes that the likelihood of incurring any material liability in this matter is remote, and no amount has been recorded. 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 six largest customers are Altria Group, Inc, British American Tobacco plc, China Tobacco International, Inc., Imperial Brands plc, Japan Tobacco, Inc., and Philip Morris International, Inc. In the aggregate, these customers have accounted for approximately 70% of consolidated revenue for each of the past three fiscal years. For the fiscal years ended March 31, 2018 , 2017 , and 2016 , revenue from Philip Morris International, Inc. was approximately $520 million , $590 million , and $640 million , respectively. For the same periods, Imperial Brands plc accounted for revenue of approximately $270 million , $230 million , and $210 million , respectively, and British American Tobacco plc accounted for revenue of approximately $230 million , $220 million , and $230 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 $2 million and $4 million at March 31, 2018 and 2017 , respectively. At March 31, 2018 and 2017 , net accounts receivable by reportable operating segment were as follows: March 31, 2018 2017 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 44,726 $ 111,520 Other Regions 296,213 294,799 Subtotal 340,939 406,319 Other Tobacco Operations 36,180 32,969 Consolidated accounts receivable, net $ 377,119 $ 439,288 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 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 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 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, 2018
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. Some of these tobacco types are also increasingly used in the manufacture of non-combustible tobacco products that are intended to provide consumers with an alternative to traditional combustible 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, its food ingredients business, and its liquid nicotine joint venture. 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, sales, 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, 2018 , 2017 , and 2016 , is as follows: Sales and Other Operating Revenues Operating Income Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2018 2017 2016 2018 2017 2016 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 308,691 $ 416,438 $ 361,827 $ 23,220 $ 35,151 $ 31,147 Other Regions (1) 1,482,188 1,422,991 1,538,971 147,263 143,349 143,596 Subtotal 1,790,879 1,839,429 1,900,798 170,483 178,500 174,743 Other Tobacco Operations (2) 243,068 231,789 219,575 10,129 9,984 11,325 Segment total 2,033,947 2,071,218 2,120,373 180,612 188,484 186,068 Deduct: Equity in pretax earnings of unconsolidated affiliates (3) (9,125 ) (5,774 ) (5,422 ) Restructuring and impairment costs (4) — (4,359 ) (2,389 ) Add: Other income (5) — — 3,390 Consolidated total $ 2,033,947 $ 2,071,218 $ 2,120,373 $ 171,487 $ 178,351 $ 181,647 Segment Assets Goodwill March 31, March 31, 2018 2017 2016 2018 2017 2016 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 368,672 $ 357,406 $ 364,003 $ — $ — $ — Other Regions (1) 1,460,961 1,465,109 1,548,517 97,094 97,159 97,318 Subtotal 1,829,633 1,822,515 1,912,520 97,094 97,159 97,318 Other Tobacco Operations (2) 338,999 300,890 318,657 1,713 1,644 1,713 Segment and consolidated totals $ 2,168,632 $ 2,123,405 $ 2,231,177 $ 98,807 $ 98,803 $ 99,031 Depreciation and Amortization Capital Expenditures Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2018 2017 2016 2018 2017 2016 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 4,772 $ 4,626 $ 4,314 $ 3,316 $ 4,202 $ 2,282 Other Regions (1) 24,547 26,106 29,187 21,820 21,619 25,122 Subtotal 29,319 30,732 33,501 25,136 25,821 27,404 Other Tobacco Operations (2) 5,574 5,238 4,143 8,901 9,809 19,749 Segment and consolidated totals $ 34,893 $ 35,970 $ 37,644 $ 34,037 $ 35,630 $ 47,153 (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 intercompany 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 $89.3 million , $78.1 million , and $81.8 million , at March 31, 2018 , 2017 , and 2016 , 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). Geographic data as of, or for, the fiscal years ended March 31, 2018 , 2017 , and 2016 , 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, 2018 2017 2016 Belgium $ 339,391 $ 320,735 $ 371,580 United States 249,281 320,731 275,147 China 120,859 137,855 135,032 Germany 114,386 123,649 155,180 Poland 110,445 94,681 85,057 Russia 49,619 84,784 109,559 Netherlands 45,698 91,266 121,767 All other countries 1,004,268 897,517 867,051 Consolidated total $ 2,033,947 $ 2,071,218 $ 2,120,373 Long-Lived Assets March 31, 2018 2017 2016 United States $ 88,196 $ 85,145 $ 84,072 Brazil 141,087 134,074 133,727 Mozambique 47,800 50,311 53,069 All other countries 145,638 146,698 154,090 Consolidated total $ 422,721 $ 416,228 $ 424,958

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Mar. 31, 2018
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, 2018 , 2017 , and 2016 : Fiscal Year Ended March 31, (in thousands of dollars) 2018 2017 2016 Foreign currency translation: Balance at beginning of year $ (33,138 ) $ (26,992 ) $ (31,138 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on foreign currency translation (net of tax (expense) benefit of $(5,806), $3,715, and $(2,119)) 14,162 (6,899 ) 3,934 Less: Net loss on foreign currency translation attributable to noncontrolling interests 372 753 212 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 14,534 (6,146 ) 4,146 Other changes: Reclassification to retained earnings (5) (5,338 ) — — Balance at end of year $ (23,942 ) $ (33,138 ) $ (26,992 ) Foreign currency hedge: Balance at beginning of year $ (258 ) $ 675 $ (1,834 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(944), $991, and $(1,060)) 1,416 (1,841 ) 1,969 Reclassification of net (gain) loss to earnings (net of tax expense (benefit) of $827, $(489), and $(291)) (1) (1,193 ) 908 540 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 223 (933 ) 2,509 Balance at end of year $ (35 ) $ (258 ) $ 675 Interest rate hedge: Balance at beginning of year $ 1,398 $ (6,997 ) $ (1,982 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(1,182), $(3,150), and $4,489) 3,687 5,849 (8,335 ) Reclassification of net loss to earnings (net of tax benefit of $(433), $(1,370), and $(1,787)) (2) 811 2,546 3,320 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 4,498 8,395 (5,015 ) Other changes: Reclassification to retained earnings (5) 632 — — Balance at end of year $ 6,528 $ 1,398 $ (6,997 ) Pension and other postretirement benefit plans: Balance at beginning of year $ (37,561 ) $ (39,036 ) $ (40,040 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) arising during the year (net of tax (expense) benefit of $(527), $751, and $1,035) (3) 295 (1,395 ) (1,921 ) Amortization included in earnings (net of tax benefit of $(933), $(1,546), and $(1,576)) (4) 2,318 2,870 2,925 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 2,613 1,475 1,004 Other changes: Reclassification to retained earnings (5) (7,667 ) — — Balance at end of year $ (42,615 ) $ (37,561 ) $ (39,036 ) Total accumulated other comprehensive income (loss) at end of year $ (60,064 ) $ (69,559 ) $ (72,350 ) (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. 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. (5) In the fourth quarter of fiscal year 2018, the Company adopted FASB Accounting Standards Update 2018-02, which addressed the disproportionate income tax effects on pretax amounts recorded in accumulated other comprehensive income (loss) arising from the enactment of the Tax Cuts and Jobs Act of 2017. With the adoption of ASU 2018-02, the disproportionate tax effects were reclassified to retained earnings, and the resulting tax effects remaining in accumulated other comprehensive income (loss) are reflective of the rates which those amounts will ultimately be taxed.

Unaudited Quarterly Financial D

Unaudited Quarterly Financial Data	12 Months Ended
	Mar. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	UNAUDITED QUARTERLY FINANCIAL DATA Unaudited quarterly financial data for the fiscal years ended March 31, 2018 and 2017 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, 2018 Operating Results: Sales and other operating revenues $ 284,622 $ 488,248 $ 653,581 $ 607,496 Gross profit 53,857 93,076 108,518 116,497 Net income 3,321 28,306 50,219 34,322 Net income attributable to Universal Corporation 3,577 26,167 45,400 30,518 Earnings per common share: Basic 0.14 1.03 1.80 1.21 Diluted 0.14 1.02 1.78 1.20 Cash Dividends Declared: Per share of common stock 0.54 0.54 0.55 0.55 Market Price Range of Common Stock: High 75.70 65.90 60.45 53.85 Low 63.15 55.00 52.05 45.95 Fiscal Year Ended March 31, 2017 Operating Results: Sales and other operating revenues $ 295,475 $ 456,942 $ 668,771 $ 650,030 Gross profit 52,197 87,844 135,453 119,185 Net income (loss) (7,504 ) 26,498 57,062 36,450 Net income (loss) attributable to Universal Corporation (5,476 ) 25,264 53,647 32,869 Earnings (loss) available to Universal Corporation common shareholders after dividends on convertible perpetual preferred stock (9,163 ) 21,577 49,960 (41,484 ) Earnings (loss) per share attributable to Universal Corporation common shareholders: Basic (0.40 ) 0.95 2.17 (1.64 ) Diluted (0.40 ) 0.90 1.92 (1.64 ) Cash Dividends Declared: Per share of convertible perpetual preferred stock 16.88 16.87 16.88 — Per share of common stock 0.53 0.53 0.54 0.54 Market Price Range of Common Stock: High 57.75 61.69 64.20 83.35 Low 52.26 55.29 52.40 63.30 Note: Earnings (loss) 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 was antidilutive for some periods in fiscal year 2017. Significant items included in the quarterly results were as follows: Fiscal Year Ended March 31, 2018 • Third Quarter – Net income attributable to Universal Corporation included a $10.5 million reduction of income tax expense from the initial provisional accounting for the enactment of the Tax Cuts and Jobs Act in December 2017, which increased diluted earnings per share for the quarter by $0.41 . • Fourth Quarter – Net income attributable to Universal Corporation included a $6.0 million adjustment to the initial provisional accounting for the enactment of the Tax Cuts and Jobs Act, which lowered the net reduction in income tax expense recorded in the third quarter from $10.5 million to $4.5 million and reduced diluted earnings per share for the quarter by $0.24 . Fiscal Year Ended March 31, 2017 • Second Quarter – Results included restructuring and impairment costs totaling $3.7 million , primarily related to the Company's decision to close its tobacco processing facility in Hungary. The Company is now processing tobaccos sourced from Hungary in its factories in Italy. The costs incurred for the change in operations in Hungary included statutory employee termination benefits and impairment charges related to certain property and equipment. Those costs reduced net income attributable to Universal Corporation by $2.4 million and diluted earnings per share by $0.09 . • Fourth Quarter – The conversion of 107,418 shares of the Company's Series B 6.75% Convertible Perpetual Preferred Stock for cash resulted in a one-time reduction of retained earnings of approximately $74.4 million during the quarter ending March 31, 2018 , representing the excess of the conversion cost over the carrying value of those preferred shares. The reduction in retained earnings resulted in a corresponding one-time reduction of earnings available to common shareholders for purposes of determining the amounts reported for basic and diluted earnings per share for those periods. The reduction in earnings available to common shareholders decreased diluted earnings per share for the quarter by $2.90 .

Schedule II - Valuation And Qua

Schedule II - Valuation And Qualifying Accounts	12 Months Ended
	Mar. 31, 2018
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation And Qualifying Accounts	Schedule II - Valuation and Qualifying Accounts Universal Corporation Fiscal Years Ended March 31, 2018 , 2017 , and 2016 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, 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 Fiscal Year Ended March 31, 2017: Allowance for doubtful accounts (deducted from accounts receivable) $ 9,099 $ (5,071 ) $ — $ (81 ) $ 3,947 Allowance for supplier accounts (deducted from advances to suppliers and other noncurrent assets) 28,865 (857 ) — (934 ) 27,074 Allowance for recoverable taxes (deducted from other current assets and other noncurrent assets) 18,752 (3,392 ) — (2,808 ) 12,552 Fiscal Year Ended March 31, 2018: Allowance for doubtful accounts (deducted from accounts receivable) $ 3,947 $ (2,006 ) $ — $ (158 ) $ 1,783 Allowance for supplier accounts (deducted from advances to suppliers and other noncurrent assets) 27,074 3,730 — (9,084 ) 21,720 Allowance for recoverable taxes (deducted from other current assets and other noncurrent assets) 12,552 1,732 — 395 14,679 (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, 2018
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 $5.5 million in fiscal year 2018 , $5.1 million in fiscal year 2017 , and $3.4 million in fiscal year 2016 , 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. The Company reviews the carrying value of its investments in Socotab and its other 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, 2018 , the Company determined that no such factors existed with respect to those investments. The Company's operations in Zimbabwe are deconsolidated under accounting requirements that apply under certain conditions to foreign subsidiaries that are subject to foreign exchange controls and other government restrictions. Since deconsolidation, 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, 2018 and 2017 . 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 year 2018, the Company purchased the noncontrolling interest of one subsidiary for $0.6 million . Other than this transaction, there were no changes in the Company’s ownership percentage in any of these subsidiaries during fiscal years 2016 , 2017 , or 2018 .
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 undiscounted and 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 the 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, 2018 , 2017 , and 2016 Fiscal Year Ended March 31, 2018 2017 2016 Equity in pretax earnings reported in the consolidated statements of income $ 9,125 $ 5,774 $ 5,422 Less: Equity in income taxes (2,063 ) (1,092 ) (2,156 ) Equity in net income 7,062 4,682 3,266 Less: Dividends received on investments (1) (5,541 ) (5,078 ) (3,422 ) Equity in net income, net of dividends, reported in the consolidated statements of cash flows $ 1,521 $ (396 ) $ (156 ) (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. For fiscal years prior to 2018 , dividends paid on the Company’s Series B 6.75% Convertible Perpetual Preferred Stock prior to its conversion (see Note 11) were deducted in determining earnings available to common shareholders. 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 include unvested restricted stock units and performance share awards that are assumed to be fully vested and paid out in shares of common stock, dilutive stock options and stock appreciation rights that were assumed to be exercised, and shares of convertible perpetual preferred stock that were assumed to be converted when the effect was dilutive (prior to their actual conversion). In periods when the effect of the convertible perpetual preferred stock was dilutive and those shares were assumed to be converted into common stock, dividends paid on the preferred stock were excluded from the calculation of diluted earnings per share. Calculations of earnings per share for the fiscal years ended March 31, 2018 , 2017 , and 2016 , 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 $150 million at March 31, 2018 and $134 million at March 31, 2017 . The related valuation allowances totaled $22 million at March 31, 2018 , and $27 million at March 31, 2017 , 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 $3.7 million in fiscal year 2018 and $0.8 million in fiscal year 2016 , but reduced by net recoveries of approximately $0.9 million in fiscal year 2017 . These net provisions and recoveries 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 $8 million at March 31, 2018 and $11 million at March 31, 2017 .
Inventory, Policy [Policy Text Block]	Inventories Tobacco inventories are valued at the lower of cost or net realizable value. 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 net realizable value.
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, 2018 and 2017 , the aggregate balances of recoverable tax credits held by the Company’s subsidiaries totaled approximately $49 million and $45 million , respectively, and the related valuation allowances totaled approximately $15 million and $13 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 property, 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 2018 , 2017 , or 2016 .
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 and is reviewed for potential impairment on an annual basis as of the end of the fiscal year. 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, 2018 and 2017 . 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 2018 , 2017 , or 2016 .
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). In fiscal year 2017, impairment charges of $2.3 million were incurred on factory and equipment assets as a result of the Company's decision to close its tobacco processing facility in Hungary (see Note 2). No significant charges for the impairment of long-lived assets were recorded during fiscal years 2018 or 2016 .
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, 2018 . In periods when fixed-rate obligations are outstanding, fair values are estimated using market prices where they are available or 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 gains of $0.2 million in fiscal year 2018 , and net remeasurement losses of $9.3 million in fiscal year 2017 and $22.5 million in fiscal year 2016 . 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 losses of $0.1 million in fiscal year 2018 and $1.3 million in fiscal year 2017 , and net transaction gains of $8.0 million in fiscal year 2016 .
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. The customers typically 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, 2018 . 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 later 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 restricted stock units, performance share awards, restricted stock, stock appreciation rights, and stock options, 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 Adopted in Fiscal Years 2016 through 2018 In April 2015, the Financial Accounting Standards Board ("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 was effective for fiscal years beginning after December 31, 2015. The Company adopted ASU 2015-03 effective for the quarter ending June 30, 2016, which was the first quarter of the fiscal year ending March 31, 2017. The implementation of ASU 2015-03, which required retrospective application, resulted in the reclassification of unamortized debt issuance costs totaling less than $2 million from other noncurrent assets to long-term debt for comparative prior periods. In April 2015, the FASB issued Accounting Standards Update 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software - Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” (“ASU 2015-05”). ASU 2015-05 requires customers who enter into a cloud computing arrangement that includes a software license to account for the arrangement as an intangible asset. If the cloud computing arrangement does not include a software license, the arrangement is accounted for as a service contract. The guidance was effective for fiscal years beginning after December 31, 2015, and allowed for retrospective or prospective adoption. The Company prospectively adopted ASU 2015-05 effective as of April 1, 2016, the beginning of fiscal year 2017. The Company’s adoption of ASU 2015-05 did not have a material impact on its consolidated financial statements. In May 2015, the FASB issued Accounting Standards Update No. 2015-07, "Fair Value Measurement, Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share or its Equivalent" ("ASU 2015-07"). ASU 2015-07 removed the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient and eliminated certain disclosures for investments that are eligible to be measured at fair value using the net asset value per share practical expedient. The Company adopted ASU 2015-07 effective as of April 1, 2016, the beginning of fiscal year 2017. Disclosures for all periods presented in Note 9 - Fair Value Measurements reflect the revised category presentation. 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 was effective for fiscal years beginning after December 31, 2016, and was adopted by the Company effective April 1, 2017, the beginning of fiscal year 2018. As required under the guidance, ASU 2015-11 has been applied prospectively after the date of adoption, and its adoption did not have a material impact on the Company's 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 was effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company elected to early-adopt ASU 2016-09 effective April 1, 2016, which was the beginning of its fiscal year ending March 31, 2017. As required by the guidance, employee tax withholding payments and excess tax benefits resulting from stock-based compensation have been classified as financing activities and operating activities, respectively, in the consolidated statements of cash flows for all periods presented. In August 2017, the FASB issued Accounting Standards Update No. 2017-12, "Derivatives and Hedging (Topic 815)" ("ASU 2017-12"). ASU 2017-12 expands derivative strategies that quality for hedge accounting and amends presentation and disclosure requirements. The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company elected to early-adopt ASU 2017-12 in the fourth quarter of fiscal year 2018. As required under the guidance, ASU 2017-12 has been applied using the modified retrospective approach and its adoption did not have a material impact on the Company's consolidated financial statements. In February 2018, the FASB issued Accounting Standards Update No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220) - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" ("ASU 2018-02") to address the disproportionate income tax effects on pretax amounts recorded in accumulated other comprehensive income (loss) resulting from the enactment of the Tax Cuts and Jobs Act in December 2017. Under the existing accounting guidance, companies were required to record the impact of changes in deferred income tax assets and liabilities from the enactment of the new law through income from continuing operations, including the impact related to pretax amounts recorded in accumulated other comprehensive income (loss). As a result, the income tax effects on amounts recorded in accumulated other comprehensive income (loss) were not reflective of the rates at which those amounts ultimately would be taxed. ASU 2018-02 permits companies to reclassify these disproportionate tax effects from accumulated other comprehensive income (loss) to retained earnings. It is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company elected to early-adopt ASU 2018-02 in the fourth quarter of fiscal year 2018 and reclassify the disproportionate tax effects to retained earnings as allowed under the guidance. The reclassification increased accumulated other comprehensive loss and increased retained earnings by approximately $12.4 million . 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 requires more management judgment and involves 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 modified 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. The Company formed a cross-functional implementation project team to review revenue accounting policies and control processes, to complete a comprehensive analysis of the new guidance, and to determine the effect adoption has on revenue recognition and financial statement disclosures for all customer contracts. The team classified its customer contracts into primary revenue streams, completed individual contract reviews, and made determinations with respect to provisions that impact the timing and amount of revenue recognition for certain customer arrangements. The implementation team reported the findings and progress of the project to management and the Audit Committee on a frequent basis over the past three fiscal years. The team is continuing to document internal controls related to the adoption of ASU 2014-09 and drafting the financial statement disclosures that will be required by the guidance. Universal will 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, and will use the modified retrospective transition method of adoption. Other than the additional required disclosures, the impact on the Company's consolidated financial statements from the adoption of ASC 2014-09 is not expected to be material. 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, and will be adopted effective April 1, 2018, which is the beginning of the Company's fiscal year ending March 31, 2019. As the Company does not have any significant equity investments that are not accounted for under the equity method, the adoption of ASU 2016-01 is not expected to have a material impact 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 in the process of collecting and analyzing detailed information on all leasing arrangements across its global organization to meet the accounting and disclosure requirements of the new guidance. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, "Intangibles - Goodwill and Other (Topic 350)" ("ASU 2017-04"). Under current accounting guidance, the fair value of a reporting unit to which a specific goodwill balance relates is first compared to its carrying value in the financial statements (Step 1). If that comparison indicates that the goodwill is impaired, an implied fair value for the goodwill must then be calculated by deducting the individual fair values of all other assets and liabilities, including any unrecognized intangible assets, from the total fair value of the reporting unit (Step 2). ASU 2017-04 simplifies the accounting guidance by eliminating Step 2 from the goodwill impairment test and using the fair value of the reporting unit determined in Step 1 to measure the goodwill impairment loss. The updated guidance is effective for fiscal years beginning after December 15, 2019. The Company will be required to adopt ASU 2017-04 effective April 1, 2020, which is the beginning of its fiscal year ending March 31, 2021, and is currently evaluating the impact that the updated guidance will have on its consolidated financial statements. In March 2017, the FASB issued Accounting Standards Update No. 2017-07, "Compensation - Retirement Benefits (Topic 715)" ("ASU 2017-07"). ASU 2017-07 requires that an employer report the service cost component of pension or other postretirement benefits expense in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, the line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. The guidance is effective for fiscal years beginning after December 15, 2017. The Company will be required to adopt ASU 2017-07 effective April 1, 2018, which is the beginning of its fiscal year ending March 31, 2019. The line item classification changes required by the new guidance will not impact the Company's pretax earnings or net income; however, operating income and other income/expense will increase by offsetting amounts that are not expected to be material to 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, 2018
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, 2018 , 2017 , and 2016 Fiscal Year Ended March 31, 2018 2017 2016 Equity in pretax earnings reported in the consolidated statements of income $ 9,125 $ 5,774 $ 5,422 Less: Equity in income taxes (2,063 ) (1,092 ) (2,156 ) Equity in net income 7,062 4,682 3,266 Less: Dividends received on investments (1) (5,541 ) (5,078 ) (3,422 ) Equity in net income, net of dividends, reported in the consolidated statements of cash flows $ 1,521 $ (396 ) $ (156 ) (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, 2018
Restructuring Costs [Abstract]
Cumulative Restructuring Costs	A summary of the restructuring and impairment costs incurred during the fiscal years ended March 31, 2017 and 2016 , is as follows: Fiscal Years Ended March 31, 2017 2016 Restructuring Costs: Employee termination benefits $ 2,083 $ 1,629 Other restructuring costs — 96 2,083 1,725 Impairment Costs: Property and equipment and farmer loans 2,276 664 Total restructuring and impairment costs $ 4,359 $ 2,389
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 2016 through 2018 is as follows: Employee Termination Benefits Other Costs Total Balance at April 1, 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 Fiscal Year 2017 Activity: Costs charged to expense 2,083 — 2,083 Payments (1,861 ) (159 ) (2,020 ) Balance at March 31, 2017 301 43 344 Fiscal Year 2018 Activity: Payments (272 ) (43 ) (315 ) Balance at March 31, 2018 $ 29 $ — $ 29

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2018
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) 2018 2017 2016 Basic Earnings Per Share Numerator for basic earnings per share Net income attributable to Universal Corporation $ 105,662 $ 106,304 $ 109,016 Less: Dividends on convertible perpetual preferred stock — (11,061 ) (14,748 ) Less: Cost in excess of carrying value on conversion or repurchase of convertible perpetual preferred stock — (74,353 ) — Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share 105,662 20,890 94,268 Denominator for basic earnings per share Weighted average shares outstanding 25,274,975 23,433,860 22,683,290 Basic earnings per share $ 4.18 $ 0.89 $ 4.16 Diluted Earnings Per Share Numerator for diluted earnings per share Earnings available to Universal Corporation common shareholders $ 105,662 $ 20,890 $ 94,268 Add: Dividends on convertible perpetual preferred stock (if conversion assumed) — — 14,748 Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share 105,662 20,890 109,016 Denominator for diluted earnings per share: Weighted average shares outstanding 25,274,975 23,433,860 22,683,290 Effect of dilutive securities (if conversion or exercise assumed) Convertible perpetual preferred stock — — 4,853,268 Employee and outside director share-based awards 233,169 336,228 288,933 Denominator for diluted earnings per share 25,508,144 23,770,088 27,825,491 Diluted earnings per share $ 4.14 $ 0.88 $ 3.92

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule Of Components of Income Tax Expense	Income taxes for the fiscal years ended March 31, 2018 , 2017 , and 2016 consisted of the following: Fiscal Year Ended March 31, 2018 2017 2016 Current United States $ 1,110 $ 3,422 $ 5,371 State and local 175 147 1,116 Foreign 60,356 36,537 32,897 61,641 40,106 39,384 Deferred United States (20,052 ) 5,434 5,780 State and local 68 561 (445 ) Foreign 8,852 10,631 9,711 (11,132 ) 16,626 15,046 Total $ 50,509 $ 56,732 $ 54,430
Schedule Of Effective Income Tax Rate Reconciliation	A reconciliation of the U.S. federal statutory rate to the Company’s effective income tax rate is as follows: Fiscal Year Ended March 31, 2018 2017 2016 U.S. federal statutory tax rate 31.5 % 35.0 % 35.0 % State income taxes, net of federal benefit 0.1 0.3 0.3 Dividends received from deconsolidated operations (1.4 ) (2.3 ) (1.5 ) Effect of exchange rate changes on deferred income taxes — 0.4 (1.6 ) Effects of new tax law: Foreign earnings taxed at rates above the U.S. federal statutory tax rate 2.8 — — Adjustment of deferred tax assets and liabilities 4.6 — — Reduction of U.S. tax liability on undistributed foreign earnings to estimate of one-time transition tax (8.3 ) — — Other, including changes in liabilities recorded for uncertain tax positions 1.0 0.1 (0.7 ) Effective income tax rate 30.3 % 33.5 % 31.5 %
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, 2018 2017 2016 United States $ 10,442 $ 31,468 $ 37,877 Foreign 156,235 137,770 134,701 Total $ 166,677 $ 169,238 $ 172,578
Schedule Of Deferred Tax Assets and Liabilities	Significant components of deferred tax liabilities and assets were as follows: March 31, 2018 2017 Liabilities Foreign withholding taxes $ 25,987 $ 44,702 Undistributed earnings 8,636 24,629 Goodwill 19,529 30,851 All other 9,039 11,015 Total deferred tax liabilities $ 63,191 $ 111,197 Assets Employee benefit plans $ 21,714 $ 38,804 Reserves and accruals 9,673 11,756 Deferred income 4,878 4,672 Currency translation losses of foreign subsidiaries 1,993 13,244 Local currency exchange losses of foreign subsidiaries 843 3,669 Foreign tax credit carryforward — 2,799 All other 6,522 14,327 Total deferred tax assets 45,623 89,271 Valuation allowance (1,040 ) (636 ) Net deferred tax assets $ 44,583 $ 88,635
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, 2018 2017 2016 Continuing operations $ 50,509 $ 56,732 $ 54,430 Other comprehensive income 23,471 1,503 1,423 Direct adjustments to shareholders' equity — — (805 ) Total $ 73,980 $ 58,235 $ 55,048
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, 2018 , 2017 and 2016 , is as follows: Fiscal Year Ended March 31, 2018 2017 2016 Liability for uncertain tax positions, beginning of year $ 2,426 $ 2,407 $ 2,894 Additions: Related to tax positions for the current year 107 94 98 Related to tax positions for prior years 1,310 — — Reductions: Due to lapses of statutes of limitations (104 ) (112 ) (215 ) Related to tax positions for prior years — (3 ) — Effect of currency rate movement (66 ) 40 (370 ) Liability for uncertain tax positions, end of year $ 3,673 $ 2,426 $ 2,407

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	The Company's long-term debt at March 31, 2018 and 2017 consisted of the following: March 31, 2018 2017 Senior bank term loans $ 370,000 $ 370,000 Total outstanding 370,000 370,000 Less: current portion — — Less: unamortized debt issuance costs (914 ) (1,267 ) Long-term debt $ 369,086 $ 368,733

Derivatives And Hedging Activ32

Derivatives And Hedging Activities (Tables)	12 Months Ended
	Mar. 31, 2018
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 2018 , 2017 , and 2016 was as follows: Fiscal Year Ended March 31, (in millions) 2018 2017 2016 Tobacco purchases $ 43.3 $ 70.7 $ 43.1 Processing costs 17.1 24.0 13.2 Total $ 60.4 $ 94.7 $ 56.3
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, 2018 , 2017 , and 2016 . Fiscal Year Ended March 31, 2018 2017 2016 Cash Flow Hedges - Interest Rate Swap Agreements Derivative Effective Portion of Hedge Gain (loss) recorded in accumulated other comprehensive loss $ 4,869 $ 8,999 $ (12,824 ) Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ (1,244 ) $ (3,916 ) $ (5,108 ) 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 $ (1,204 ) $ 454 $ 1,774 Gain (loss) reclassified from accumulated other comprehensive loss into earnings $ (1,099 ) $ 945 $ 993 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 $ (5 ) $ 246 $ 685 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 $ (234 ) $ (2,591 ) $ 5,973 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, 2018 and 2017 : 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, 2018 2017 2018 2017 Derivatives Designated as Hedging Instruments Interest rate swap agreements Other non-current assets $ 8,262 $ 2,149 Other long-term liabilities $ — $ — Forward foreign currency exchange contracts Other current assets 19 56 Accounts payable and accrued expenses 123 55 Total $ 8,281 $ 2,205 $ 123 $ 55 Derivatives Not Designated as Hedging Instruments Forward foreign currency exchange contracts Other current assets $ 341 $ 917 Accounts payable and accrued expenses $ 269 $ 120 Total $ 341 $ 917 $ 269 $ 120 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, 2018
Fair Value Disclosures [Abstract]
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis	At March 31, 2018 and 2017 , 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 or the NAV practical expedient: March 31, 2018 Fair Value Hierarchy NAV Level 1 Level 2 Level 3 Total Assets Money market funds $ 89,767 $ — $ — $ — $ 89,767 Trading securities associated with deferred compensation plans — 17,519 — — 17,519 Interest rate swap agreements — — 8,262 — 8,262 Forward foreign currency exchange contracts — — 360 — 360 Total financial assets measured and reported at fair value $ 89,767 $ 17,519 $ 8,622 $ — $ 115,908 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ — $ 974 $ 974 Forward foreign currency exchange contracts — — 392 — 392 Total financial liabilities measured and reported at fair value $ — $ — $ 392 $ 974 $ 1,366 March 31, 2017 Fair Value Hierarchy NAV Level 1 Level 2 Level 3 Total Assets Money market funds $ 137,145 $ — $ — $ — $ 137,145 Trading securities associated with deferred compensation plans — 17,726 — — 17,726 Interest rate swaps — — 2,149 — 2,149 Forward foreign currency exchange contracts — — 973 — 973 Total financial assets measured and reported at fair value $ 137,145 $ 17,726 $ 3,122 $ — $ 157,993 Liabilities Guarantees of bank loans to tobacco growers $ — $ — $ — $ 1,177 $ 1,177 Forward foreign currency exchange contracts — — 175 — 175 Total financial liabilities measured and reported at fair value $ — $ — $ 175 $ 1,177 $ 1,352
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, 2018 and 2017 is provided below. Fiscal Year Ended March 31, 2018 2017 Balance at beginning of year $ 1,177 $ 1,628 Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio) (1,210 ) (2,550 ) Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans) 1,044 1,854 Change in discount rate and estimated collection period 28 59 Currency remeasurement (65 ) 186 Balance at end of year $ 974 $ 1,177

Pension And Other Postretirem34

Pension And Other Postretirement Benefit Plans (Tables)	12 Months Ended
	Mar. 31, 2018
Defined Benefit Plan [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 2018 2017 2016 2018 2017 2016 Discount rates: Benefit cost for plan year 4.10 % 4.10 % 3.80 % 3.90 % 3.80 % 3.70 % Benefit obligation at end of plan year 4.10 % 4.10 % 4.10 % 3.90 % 3.90 % 3.80 % Expected long-term return on plan assets: Benefit cost for plan year 7.00 % 7.00 % 7.25 % 3.00 % 3.00 % 3.00 % Salary scale: Benefit cost for plan year 4.00 % 4.00 % 4.50 % 4.00 % 4.00 % 4.50 % Benefit obligation at end of plan year 4.00 % 4.00 % 4.00 % 4.00 % 4.00 % 4.00 % Healthcare cost trend rate N/A N/A N/A 8.10 % 6.70 % 7.00 %
Benefit Obligations, Plan Assets, And Funded Status	The following table reflects the changes in benefit obligations and plan assets in 2018 and 2017 , as well as the funded status of the plans at March 31, 2018 and 2017 : Pension Benefits Other Postretirement Benefits March 31, March 31, 2018 2017 2018 2017 Actuarial present value of benefit obligation: Accumulated benefit obligation $ 270,666 $ 266,764 Projected benefit obligation 273,658 269,250 $ 32,945 $ 36,786 Change in projected benefit obligation: Projected benefit obligation, beginning of year $ 269,250 $ 275,505 $ 36,786 $ 37,225 Service cost 5,177 5,382 229 247 Interest cost 10,801 10,441 1,471 1,535 Effect of discount rate change 1,209 489 612 (191 ) Foreign currency exchange rate changes 1,268 (1,111 ) (151 ) 286 Settlements — (10,955 ) — — Other 781 4,108 (3,212 ) 766 Benefit payments (14,828 ) (14,609 ) (2,790 ) (3,082 ) Projected benefit obligation, end of year $ 273,658 $ 269,250 $ 32,945 $ 36,786 Change in plan assets: Plan assets at fair value, beginning of year $ 220,151 $ 217,859 $ 3,054 $ 1,565 Actual return on plan assets 15,902 16,450 105 71 Employer contributions 7,891 10,676 3,098 4,500 Settlements — (10,322 ) — — Foreign currency exchange rate changes 452 97 — — Benefit payments (14,828 ) (14,609 ) (2,790 ) (3,082 ) Plan assets at fair value, end of year $ 229,568 $ 220,151 $ 3,467 $ 3,054 Funded status: Funded status of the plans, end of year $ (44,090 ) $ (49,099 ) $ (29,478 ) $ (33,732 )
Funded Status In Consolidated Balance Sheets	The funded status of the Company’s plans at the end of fiscal years 2018 and 2017 was reported in the consolidated balance sheets as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2018 2017 2018 2017 Non-current asset (included in other noncurrent assets) $ 2,308 $ 1,710 $ — $ — Current liability (included in accounts payable and accrued expenses) (8,599 ) (1,106 ) (2,431 ) (2,746 ) Non-current liability (reported as pensions and other postretirement benefits) (37,796 ) (49,703 ) (27,047 ) (30,986 ) Amounts recognized in the consolidated balance sheets $ (44,087 ) $ (49,099 ) $ (29,478 ) $ (33,732 )
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, 2018 and 2017 , is as follows: Pension Benefits Other Postretirement Benefits March 31, March 31, 2018 2017 2018 2017 For plans with a projected benefit obligation in excess of plan assets: Aggregate projected benefit obligation (PBO) $ 261,581 $ 260,826 $ 32,945 $ 36,786 Aggregate fair value of plan assets 215,182 210,017 3,467 3,054 For plans with an accumulated benefit obligation in excess of plan assets: Aggregate accumulated benefit obligation (ABO) 258,708 258,424 N/A N/A Aggregate fair value of plan assets 215,182 210,017 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, 2018 2017 2016 2018 2017 2016 Components of net periodic benefit cost: Service cost $ 5,177 $ 5,382 $ 5,953 $ 229 $ 247 $ 286 Interest cost 10,801 10,441 10,037 1,471 1,535 1,539 Expected return on plan assets (15,962 ) (15,154 ) (15,110 ) (87 ) (42 ) (58 ) Settlement gain — (912 ) — — — — Net amortization and deferral 3,735 4,576 4,394 (620 ) (394 ) (431 ) Net periodic benefit cost $ 3,751 $ 4,333 $ 5,274 $ 993 $ 1,346 $ 1,336
Recognized In Accumulated Other Comprehensive Income (Loss) On Pretax Basis	The amounts recognized in other comprehensive income or loss for fiscal years 2018 and 2017 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, 2018 2017 2018 2017 Change in net actuarial loss (gain): Net actuarial loss (gain), beginning of year $ 74,045 $ 79,299 $ (6,286 ) $ (7,234 ) Losses (gains) arising during the year 1,390 2,313 (1,580 ) 554 Amortization included in net periodic benefit cost during the year (6,102 ) (7,567 ) 619 394 Net actuarial loss (gain), end of year 69,333 74,045 (7,247 ) (6,286 ) Change in prior service cost (benefit): Prior service cost (benefit), beginning of year (12,070 ) (15,061 ) (112 ) (108 ) Prior service cost (benefit) arising during the year — — (867 ) (4 ) Amortization included in net periodic benefit cost during the year 2,367 2,991 14 — Prior service cost (benefit), end of year (9,703 ) (12,070 ) (965 ) (112 ) Total amounts in accumulated other comprehensive loss at end of year, before income taxes $ 59,630 $ 61,975 $ (8,212 ) $ (6,398 )
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, 2018 measurement date and the actual asset allocations at the March 31, 2018 and 2017 measurement dates by major asset category were as follows: Actual Allocation Target Allocation March 31, Major Asset Category Range 2018 2017 Equity securities 29.0 % 19 % - 39% 27.4 % 31.9 % Fixed income securities (1) 66.0 % 56 % - 76% 65.9 % 61.7 % Alternative investments 5.0 % 0 % - 10% 6.7 % 6.4 % 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 2019 $ 22,601 $ 2,819 2020 16,117 2,726 2021 17,622 2,639 2022 17,235 2,536 2023 17,497 2,458 2024 - 2028 91,433 10,971
Fair Values Of The Assets Under Fair Value Hierarchy	Fair values of the assets of the Company’s pension plans as of March 31, 2018 and 2017 , classified based on how their values were determined under the fair value hierarchy are as follows: March 31, 2018 Level 1 Level 2 Level 3 Total Equity securities $ 58,667 $ — $ — $ 58,667 Fixed income securities (1) 142,329 10,836 3,550 156,715 Alternative investments — — 14,186 14,186 Total investments $ 200,996 $ 10,836 $ 17,736 $ 229,568 March 31, 2017 Level 1 Level 2 Level 3 Total Equity securities $ 65,637 $ — $ — $ 65,637 Fixed income securities (1) 128,214 10,134 3,072 141,420 Alternative investments — — 13,094 13,094 Total investments $ 193,851 $ 10,134 $ 16,166 $ 220,151

Common And Preferred Stock Comm

Common And Preferred Stock Common and Preferred Stock (Tables)	12 Months Ended
	Mar. 31, 2018
Schedule of Repurchases of Shares [Abstract]
Schedule Of Repurchases Of Shares [Table Text Block]	er the programs for the fiscal year ended March 31, 2018 were as follows: Fiscal Year Ended March 31, 2018 Number of shares repurchased 403,624 Cost of shares repurchased (in thousands of dollars) $ 21,610 Weighted-average cost per share $ 53.54

Executive Stock Plans And Sto36

Executive Stock Plans And Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary Of Stock Option And SAR Activity	The following tables summarize the Company’s SAR activity and related information for fiscal years 2016 and 2017 : Shares Weighted-Average Exercise Price Fiscal Year Ended March 31, 2016: Outstanding at beginning of year 169,601 $ 59.82 Exercised (6,200 ) 51.32 Cancelled/expired (11,200 ) 62.66 Outstanding at end of year 152,201 59.96 Fiscal Year Ended March 31, 2017: Exercised (135,334 ) 61.72 Cancelled/expired (16,867 ) 45.82 Outstanding at end of year — $ —
Intrinsic Value And Fair Value Of SARs	Fiscal Year Ended March 31, 2017 2016 Total intrinsic value of awards exercised $ 555 $ 26 Total fair value of awards vested $ — $ — Intrinsic value in the above table is based on the difference between the market price of the underlying shares at the exercise date and the exercise price of the SARs.
Summary Of RSU, Restricted Stock, And PSA Activity	The following table summarizes the Company’s RSU, restricted stock, and PSA activity for fiscal years 2016 through 2018 : 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, 2016: Unvested at beginning of year 264,397 $ 48.10 48,100 $ 42.33 153,475 $ 45.58 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 Fiscal Year Ended March 31, 2017: Granted 74,776 55.27 — — 58,805 49.17 Vested (51,544 ) 44.57 (17,900 ) 42.26 (52,230 ) 53.56 Forfeited (539 ) 55.63 — — (525 ) 49.17 Unvested at end of year 325,638 52.01 30,200 42.37 160,350 46.86 Fiscal Year Ended March 31, 2018: Granted 72,032 64.13 — — 39,100 60.37 Vested (60,751 ) 45.51 — — (41,667 ) 46.41 Forfeited — — — — (6,783 ) 46.41 Unvested at end of year 336,919 $ 55.77 30,200 $ 42.37 151,000 $ 50.50
Stock-Based Compensation Expense And Related Income Tax Benefit Recognized	For the fiscal years ended March 31, 2018 , 2017 , and 2016 , total stock-based compensation expense and the related income tax benefit recognized were as follows: Fiscal Year Ended March 31, 2018 2017 2016 Total stock-based compensation expense $ 7,610 $ 6,475 $ 5,206 Income tax benefit recorded on stock-based compensation expense $ 2,397 $ 2,266 $ 1,822

Commitments And Other Matters (

Commitments And Other Matters (Tables)	12 Months Ended
	Mar. 31, 2018
Commitments And Other Matters [Abstract]
Schedule Of Accounts Receivable By Reportable Operating Segment	At March 31, 2018 and 2017 , net accounts receivable by reportable operating segment were as follows: March 31, 2018 2017 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 44,726 $ 111,520 Other Regions 296,213 294,799 Subtotal 340,939 406,319 Other Tobacco Operations 36,180 32,969 Consolidated accounts receivable, net $ 377,119 $ 439,288

Operating Segments (Tables)

Operating Segments (Tables)	12 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Operating Results For The Company's Reportable Segments	Reportable segment data as of, or for, the fiscal years ended March 31, 2018 , 2017 , and 2016 , is as follows: Sales and Other Operating Revenues Operating Income Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2018 2017 2016 2018 2017 2016 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 308,691 $ 416,438 $ 361,827 $ 23,220 $ 35,151 $ 31,147 Other Regions (1) 1,482,188 1,422,991 1,538,971 147,263 143,349 143,596 Subtotal 1,790,879 1,839,429 1,900,798 170,483 178,500 174,743 Other Tobacco Operations (2) 243,068 231,789 219,575 10,129 9,984 11,325 Segment total 2,033,947 2,071,218 2,120,373 180,612 188,484 186,068 Deduct: Equity in pretax earnings of unconsolidated affiliates (3) (9,125 ) (5,774 ) (5,422 ) Restructuring and impairment costs (4) — (4,359 ) (2,389 ) Add: Other income (5) — — 3,390 Consolidated total $ 2,033,947 $ 2,071,218 $ 2,120,373 $ 171,487 $ 178,351 $ 181,647 Segment Assets Goodwill March 31, March 31, 2018 2017 2016 2018 2017 2016 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 368,672 $ 357,406 $ 364,003 $ — $ — $ — Other Regions (1) 1,460,961 1,465,109 1,548,517 97,094 97,159 97,318 Subtotal 1,829,633 1,822,515 1,912,520 97,094 97,159 97,318 Other Tobacco Operations (2) 338,999 300,890 318,657 1,713 1,644 1,713 Segment and consolidated totals $ 2,168,632 $ 2,123,405 $ 2,231,177 $ 98,807 $ 98,803 $ 99,031 Depreciation and Amortization Capital Expenditures Fiscal Year Ended March 31, Fiscal Year Ended March 31, 2018 2017 2016 2018 2017 2016 Flue-Cured and Burley Leaf Tobacco Operations: North America $ 4,772 $ 4,626 $ 4,314 $ 3,316 $ 4,202 $ 2,282 Other Regions (1) 24,547 26,106 29,187 21,820 21,619 25,122 Subtotal 29,319 30,732 33,501 25,136 25,821 27,404 Other Tobacco Operations (2) 5,574 5,238 4,143 8,901 9,809 19,749 Segment and consolidated totals $ 34,893 $ 35,970 $ 37,644 $ 34,037 $ 35,630 $ 47,153 (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 intercompany 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 $89.3 million , $78.1 million , and $81.8 million , at March 31, 2018 , 2017 , and 2016 , 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).
Schedule Of Sales And Long-Lived Assets By Country	Geographic Data Sales and Other Operating Revenues Fiscal Year Ended March 31, 2018 2017 2016 Belgium $ 339,391 $ 320,735 $ 371,580 United States 249,281 320,731 275,147 China 120,859 137,855 135,032 Germany 114,386 123,649 155,180 Poland 110,445 94,681 85,057 Russia 49,619 84,784 109,559 Netherlands 45,698 91,266 121,767 All other countries 1,004,268 897,517 867,051 Consolidated total $ 2,033,947 $ 2,071,218 $ 2,120,373 Long-Lived Assets March 31, 2018 2017 2016 United States $ 88,196 $ 85,145 $ 84,072 Brazil 141,087 134,074 133,727 Mozambique 47,800 50,311 53,069 All other countries 145,638 146,698 154,090 Consolidated total $ 422,721 $ 416,228 $ 424,958

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Mar. 31, 2018
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, 2018 , 2017 , and 2016 : Fiscal Year Ended March 31, (in thousands of dollars) 2018 2017 2016 Foreign currency translation: Balance at beginning of year $ (33,138 ) $ (26,992 ) $ (31,138 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on foreign currency translation (net of tax (expense) benefit of $(5,806), $3,715, and $(2,119)) 14,162 (6,899 ) 3,934 Less: Net loss on foreign currency translation attributable to noncontrolling interests 372 753 212 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 14,534 (6,146 ) 4,146 Other changes: Reclassification to retained earnings (5) (5,338 ) — — Balance at end of year $ (23,942 ) $ (33,138 ) $ (26,992 ) Foreign currency hedge: Balance at beginning of year $ (258 ) $ 675 $ (1,834 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(944), $991, and $(1,060)) 1,416 (1,841 ) 1,969 Reclassification of net (gain) loss to earnings (net of tax expense (benefit) of $827, $(489), and $(291)) (1) (1,193 ) 908 540 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 223 (933 ) 2,509 Balance at end of year $ (35 ) $ (258 ) $ 675 Interest rate hedge: Balance at beginning of year $ 1,398 $ (6,997 ) $ (1,982 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(1,182), $(3,150), and $4,489) 3,687 5,849 (8,335 ) Reclassification of net loss to earnings (net of tax benefit of $(433), $(1,370), and $(1,787)) (2) 811 2,546 3,320 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 4,498 8,395 (5,015 ) Other changes: Reclassification to retained earnings (5) 632 — — Balance at end of year $ 6,528 $ 1,398 $ (6,997 ) Pension and other postretirement benefit plans: Balance at beginning of year $ (37,561 ) $ (39,036 ) $ (40,040 ) Other comprehensive income (loss) attributable to Universal Corporation: Net gain (loss) arising during the year (net of tax (expense) benefit of $(527), $751, and $1,035) (3) 295 (1,395 ) (1,921 ) Amortization included in earnings (net of tax benefit of $(933), $(1,546), and $(1,576)) (4) 2,318 2,870 2,925 Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 2,613 1,475 1,004 Other changes: Reclassification to retained earnings (5) (7,667 ) — — Balance at end of year $ (42,615 ) $ (37,561 ) $ (39,036 ) Total accumulated other comprehensive income (loss) at end of year $ (60,064 ) $ (69,559 ) $ (72,350 ) (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. 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. (5) In the fourth quarter of fiscal year 2018, the Company adopted FASB Accounting Standards Update 2018-02, which addressed the disproportionate income tax effects on pretax amounts recorded in accumulated other comprehensive income (loss) arising from the enactment of the Tax Cuts and Jobs Act of 2017. With the adoption of ASU 2018-02, the disproportionate tax effects were reclassified to retained earnings, and the resulting tax effects remaining in accumulated other comprehensive income (loss) are reflective of the rates which those amounts will ultimately be taxed.

Unaudited Quarterly Financial40

Unaudited Quarterly Financial Data (Tables)	12 Months Ended
	Mar. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Ended March 31, 2018 Operating Results: Sales and other operating revenues $ 284,622 $ 488,248 $ 653,581 $ 607,496 Gross profit 53,857 93,076 108,518 116,497 Net income 3,321 28,306 50,219 34,322 Net income attributable to Universal Corporation 3,577 26,167 45,400 30,518 Earnings per common share: Basic 0.14 1.03 1.80 1.21 Diluted 0.14 1.02 1.78 1.20 Cash Dividends Declared: Per share of common stock 0.54 0.54 0.55 0.55 Market Price Range of Common Stock: High 75.70 65.90 60.45 53.85 Low 63.15 55.00 52.05 45.95 Fiscal Year Ended March 31, 2017 Operating Results: Sales and other operating revenues $ 295,475 $ 456,942 $ 668,771 $ 650,030 Gross profit 52,197 87,844 135,453 119,185 Net income (loss) (7,504 ) 26,498 57,062 36,450 Net income (loss) attributable to Universal Corporation (5,476 ) 25,264 53,647 32,869 Earnings (loss) available to Universal Corporation common shareholders after dividends on convertible perpetual preferred stock (9,163 ) 21,577 49,960 (41,484 ) Earnings (loss) per share attributable to Universal Corporation common shareholders: Basic (0.40 ) 0.95 2.17 (1.64 ) Diluted (0.40 ) 0.90 1.92 (1.64 ) Cash Dividends Declared: Per share of convertible perpetual preferred stock 16.88 16.87 16.88 — Per share of common stock 0.53 0.53 0.54 0.54 Market Price Range of Common Stock: High 57.75 61.69 64.20 83.35 Low 52.26 55.29 52.40 63.30

Nature Of Operations And Sign41

Nature Of Operations And Significant Accounting Policies (Narrative) (Details)		12 Months Ended
		Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Nature Of Operations And Significant Accounting Policies [Line Items]
Number of countries in which entity operates		30
Dividends received on equity method investments	[1]	$ (5,541,000)	$ (5,078,000)	$ (3,422,000)
Advances to suppliers, current and non-current		150,000,000	134,000,000
Valuation allowance amount related to advances to suppliers		22,000,000	27,000,000
Provision (recoveries) for loss on uncollectible advances to suppliers		3,700,000	(900,000)	800,000
Advances to suppliers on which interest has been discontinued		8,000,000	11,000,000
Aggregate balance of recoverable value added tax credits		49,000,000	45,000,000
Valuation allowance on recoverable value added tax credits		15,000,000	13,000,000
Interest costs capitalized		0	0	0
Amount charged for goodwill impairment		0	0	0
Impairment of property, plant and equipment		0	2,300,000	0
Foreign currency remeasurement gain (loss)		(200,000)	9,300,000	22,500,000
Foreign currency transaction gain (loss)		$ 100,000	1,300,000	$ (8,000,000)
Percentage of revenue earned from processing tobacco owned by customers		5.00%
Payments to Noncontrolling Interests		$ 600,000
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
Accounting Standards Update 2015-03 [Member]
Nature Of Operations And Significant Accounting Policies [Line Items]
Unamortized Debt Issuance Expense			$ 2,000,000
[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, 2018	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Abstract]
Equity in pretax earnings reported in the consolidated statements of income	[1]	$ 9,125	$ 5,774	$ 5,422
Less: Equity in income taxes		(2,063)	(1,092)	(2,156)
Equity in net income		7,062	4,682	3,266
Less: Dividends received on investments	[2]	5,541	5,078	3,422
Equity in net income, net of dividends, reported in the consolidated statements of cash flows		$ 1,521	$ (396)	$ (156)
[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	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment costs		$ 0	$ 4,359	$ 2,389
HUNGARY
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment costs	$ 3,700		$ 4,400
ZAMBIA
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment costs				$ 2,400

Restructuring Costs (Cumulative

Restructuring Costs (Cumulative Restructuring Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 2,083	$ 1,725
Restructuring and impairment costs	$ 0	4,359	2,389
Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination benefits		2,083	1,629
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Other restructuring costs		0	96
Farmer loans and property and equipment		$ 2,276	$ 664

Restructuring Costs (Reconcilia

Restructuring Costs (Reconciliation Of Company's Liability For The Restructuring Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 2,083	$ 1,725
Payments	$ (315)	(2,020)	(2,338)
Balance	29	344	281	$ 894
Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination benefits		2,083	1,629
Payments	(272)	(1,861)	(2,246)
Balance	29	301	79	696
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Other restructuring costs		0	96
Payments	(43)	(159)	(92)
Balance	$ 0	$ 43	$ 202	$ 198

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2018shares	Dec. 31, 2016shares	Mar. 31, 2018USD ($)shares	Mar. 31, 2017USD ($)shares	Mar. 31, 2016USD ($)$ / sharesshares
Stock Repurchased And Retired During Period Value Retained Earnings | $			$ 0	$ (74,353)	$ 0
Potentially dilutive securities					133,600
Weighted-average exercise price | $ / shares					62.66
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Preferred stock, shares converted to common stock			0	111,072	0
Stock Repurchased and Retired During Period, Shares	107,418
Stock Repurchased And Retired During Period Value Retained Earnings | $				$ 74,353
Common Stock [Member]
Conversion of Stock, Shares Issued		2,487,118

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, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$ 30,518	$ 45,400	$ 26,167	$ 3,577	$ 32,869	$ 53,647	$ 25,264	$ (5,476)	$ 105,662	$ 106,304	$ 109,016
Less: Dividends on convertible perpetual preferred stock									0	(11,061)	(14,748)
Stock Repurchased And Retired During Period Value Retained Earnings									0	(74,353)	0
Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share					$ (41,484)	$ 49,960	$ 21,577	$ (9,163)	$ 105,662	$ 20,890	$ 94,268
Denominator for basic earnings per share
Weighted average shares outstanding									25,274,975	23,433,860	22,683,290
Basic earnings per share	$ 1.21	$ 1.80	$ 1.03	$ 0.14	$ (1.64)	$ 2.17	$ 0.95	$ (0.40)	$ 4.18	$ 0.89	$ 4.16
Numerator for diluted earnings per share
Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share					$ (41,484)	$ 49,960	$ 21,577	$ (9,163)	$ 105,662	$ 20,890	$ 94,268
Add: Dividends on convertible perpetual preferred stock (if conversion assumed)									0	0	(14,748)
Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share									$ 105,662	$ 20,890	$ 109,016
Denominator for diluted earnings per share:
Weighted average shares outstanding									25,274,975	23,433,860	22,683,290
Effect of dilutive securities (if conversion or exercise assumed) Convertible perpetual preferred stock									0	0	4,853,268
Effect of dilutive securities (if conversion or exercise assumed) Employee share-based awards									233,169	336,228	288,933
Denominator for diluted earnings per share									25,508,144	23,770,088	27,825,491
Diluted earnings per share	$ 1.20	$ 1.78	$ 1.02	$ 0.14	$ (1.64)	$ 1.92	$ 0.90	$ (0.40)	$ 4.14	$ 0.88	$ 3.92

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent						31.50%	35.00%	35.00%
Continuing operations						$ 50,509	$ 56,732	$ 54,430
Unrecognized tax benefits that would impact effective tax rate		$ 3,600				3,600
Liability where a significant change in unrecognized tax benefits is reasonably possible		100				$ 100
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
Prior to Tax Cuts and Jobs Act [Member]
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				35.00%
Subsequent to Tax Cuts and Jobs Act [Member]
Income Tax [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%
Continuing operations		(6,000)	$ 10,500		$ 10,500	$ 4,500
Foreign Earnings Repatriated						10,000
Long Term Liabilities, Undistributed Foreign Earnings		$ 15,800				15,800
Net Income [Member] | Subsequent to Tax Cuts and Jobs Act [Member]
Income Tax [Line Items]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability						7,800
Retained Earnings [Member]
Income Tax [Line Items]
Reclassification of Tax Effects out of Accumulated Other Comprehensive Income	[1]					$ 12,373
[1]	In the fourth quarter of fiscal year 2018, the Company adopted FASB Accounting Standards Update 2018-02, which addressed the disproportionate income tax effects on pretax amounts recorded in accumulated other comprehensive income (loss) arising from the enactment of the Tax Cuts and Jobs Act of 2017. With the adoption of ASU 2018-02, the disproportionate tax effects were reclassified to retained earnings, and the resulting tax effects remaining in accumulated other comprehensive income (loss) are reflective of the rates which those amounts will ultimately be taxed.

Income Taxes (Schedule Of Compo

Income Taxes (Schedule Of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
United States, current	$ 1,110	$ 3,422	$ 5,371
State and local, current	175	147	1,116
Foreign, current	60,356	36,537	32,897
Total, current	61,641	40,106	39,384
United States, deferred	(20,052)	5,434	5,780
State and local, deferred	68	561	(445)
Foreign, deferred	8,852	10,631	9,711
Deferred income tax expense (benefit)	(11,132)	16,626	15,046
Total	$ 50,509	$ 56,732	$ 54,430

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	31.50%	35.00%	35.00%
State income taxes, net of federal benefit	0.10%	0.30%	0.30%
Dividends received from deconsolidated operations	(1.40%)	(2.30%)	(1.50%)
Effect of exchange rate changes on deferred income taxes	0.00%	0.40%	(1.60%)
Foreign earnings taxed at rates above the U.S. federal statutory tax rate	2.80%	0.00%	0.00%
Adjustment of deferred tax assets and liabilities	4.60%	0.00%	0.00%
Reduction of U.S. tax liability on undistributed foreign earnings to estimate of one-time transition tax	(8.30%)	(0.00%)	(0.00%)
Other, including changes in liabilities recorded for uncertain tax positions	1.00%	0.10%	(0.70%)
Effective income tax rate	30.30%	33.50%	31.50%

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, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
United States	$ 10,442	$ 31,468	$ 37,877
Foreign	156,235	137,770	134,701
Total	$ 166,677	$ 169,238	$ 172,578

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Foreign withholding taxes	$ 25,987	$ 44,702
Undistributed earnings	8,636	24,629
Goodwill	19,529	30,851
All other	9,039	11,015
Total deferred tax liabilities	63,191	111,197
Employee benefit plans	21,714	38,804
Reserves and accruals	9,673	11,756
Deferred income	4,878	4,672
Currency translation losses of foreign subsidiaries	1,993	13,244
Local currency exchange losses of foreign subsidiaries	843	3,669
Foreign tax credit carryforward	0	2,799
All other	6,522	14,327
Total deferred tax assets	45,623	89,271
Valuation allowance	(1,040)	(636)
Net deferred tax assets	$ 44,583	$ 88,635

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, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Continuing operations	$ 50,509	$ 56,732	$ 54,430
Other comprehensive income	23,471	1,503	1,423
Direct adjustments to shareholders' equity	0	0	(805)
Total	$ 73,980	$ 58,235	$ 55,048

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of the Gross Liability For Uncertain Tax Positions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Liability for uncertain tax positions, beginning of year	$ 2,426	$ 2,407	$ 2,894
Additions: Related to tax positions for the current year	107	94	98
Additions: Related to tax positions for prior years	1,310	0	0
Reductions: Due to lapses of statutes of limitations	(104)	(112)	(215)
Reductions: Related to tax positions for prior year	0	(3)	0
Reductions: Effect of currency rate movement	(66)	(40)	(370)
Liability for uncertain tax positions, end of year	$ 3,673	$ 2,426	$ 2,407

Credit Facilities (Narrative) (

Credit Facilities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Five-year revolving credit facility	$ 430,000
Additional borrowings under present credit agreement	$ 100,000
Number Of Years Of Bank Credit Agreement	5 years
Outstanding uncommitted lines of credit	$ 45,421	$ 59,133
Weighted average interest rates on short-term borrowings outstanding	3.40%	3.10%
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	$ 45,000	$ 59,000
Unused lines of Credit [Member]
Debt Instrument [Line Items]
Outstanding uncommitted lines of credit	248,000
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) $ in Millions	12 Months Ended
	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt Instrument, Term	5 years
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, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Total outstanding	$ 370,000	$ 370,000
Less: current portion	0	0
Less: unamortized debt issuance costs	(914)	(1,267)
Long-term debt	369,086	368,733
Senior bank term loans
Debt Instrument [Line Items]
Senior bank term loans	$ 370,000	$ 370,000

Leases (Details)

Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Leases [Abstract]
Rent expense on operating leases	$ 16	$ 15.3	$ 14.7
Operating leases minimum payment in 2019	13.5
Operating leases minimum payment in 2020	9.7
Operating leases minimum payment in 2021	8.2
Operating leases minimum payment in 2022	5.3
Operating leases minimum payment in 2023	4.5
Operating leases minimum payment after 2023	$ 10.3

Derivatives And Hedging Activ59

Derivatives And Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax	$ (0.1)
Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Notional Amount	27.3	$ 33
Cash Flow Hedges [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 370

Derivatives And Hedging Activ60

Derivatives And Hedging Activities Notional Amount of Forward Contracts (Details) - USD ($) $ in Millions	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 60.4	$ 94.7	$ 56.3
Forward contracts related to tobacco purchase [Member] | Derivatives Designated As Hedges [Member]
Derivative [Line Items]
Derivative, Notional Amount	43.3	70.7	43.1
Forward contracts related to tobacco processing costs [Member] | Derivatives Not Designated As Hedges [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 17.1	$ 24	$ 13.2

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, 2018	Mar. 31, 2017	Mar. 31, 2016
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	$ 4,869	$ 8,999	$ (12,824)
Gain (loss) reclassified from accumulated other comprehensive loss into earnings	(1,244)	(3,916)	(5,108)
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	(1,204)	454	1,774
Gain (loss) reclassified from accumulated other comprehensive loss into earnings	(1,099)	945	993
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	(5)	246	685
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	$ (234)	$ (2,591)	$ 5,973

Derivatives And Hedging Activ62

Derivatives And Hedging Activities (Effect Of Derivative Financial Instruments On The Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments	$ 8,281	$ 2,205
Derivatives in a Fair Value Liability Position Designated as Hedging Instruments	123	55
Derivatives in a Fair Value Asset Position Not Designated as Hedging Instruments	341	917
Derivatives in a Fair Value Liability Position Not Designated as Hedging Instruments	269	120
Forward Foreign Currency Exchange Contracts [Member] | Other Current Assets [Member]
Derivative [Line Items]
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments	19	56
Derivatives in a Fair Value Asset Position Not Designated as Hedging Instruments	341	917
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	123	55
Derivatives in a Fair Value Liability Position Not Designated as Hedging Instruments	269	120
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	8,262	2,149
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	$ 0	$ 0

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Mar. 31, 2017
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, 2018	Mar. 31, 2017
Assets:
Money market funds	$ 89,767	$ 137,145
Trading securities associated with deferred compensation plans	17,519	17,726
Interest rate swap agreements	8,262	2,149
Forward foreign currency exchange contracts	360	973
Total financial assets measured and reported at fair value	115,908	157,993
Liabilities:
Guarantees of bank loans to tobacco growers	974	1,177
Forward foreign currency exchange contracts	392	175
Total financial liabilities measured and reported at fair value	1,366	1,352
Net Asset Value (NAV) [Member]
Assets:
Money market funds	89,767	137,145
Trading securities associated with deferred compensation plans	0	0
Interest rate swap agreements	0	0
Forward foreign currency exchange contracts	0	0
Total financial assets measured and reported at fair value	89,767	137,145
Liabilities:
Guarantees of bank loans to tobacco growers	0	0
Forward foreign currency exchange contracts	0	0
Total financial liabilities measured and reported at fair value	0	0
Level 1 [Member]
Assets:
Money market funds	0	0
Trading securities associated with deferred compensation plans	17,519	17,726
Interest rate swap agreements	0
Forward foreign currency exchange contracts	0	0
Total financial assets measured and reported at fair value	17,519	17,726
Liabilities:
Guarantees of bank loans to tobacco growers	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	0	0
Trading securities associated with deferred compensation plans	0	0
Interest rate swap agreements	8,262	2,149
Forward foreign currency exchange contracts	360	973
Total financial assets measured and reported at fair value	8,622	3,122
Liabilities:
Guarantees of bank loans to tobacco growers	0	0
Forward foreign currency exchange contracts	392	175
Total financial liabilities measured and reported at fair value	392	175
Level 3 [Member]
Assets:
Money market funds	0	0
Trading securities associated with deferred compensation plans	0	0
Interest rate swap agreements	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	974	1,177
Forward foreign currency exchange contracts	0	0
Total financial liabilities measured and reported at fair value	$ 974	$ 1,177

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, 2018	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Balance at beginning of year	$ 1,177	$ 1,628
Payments under the guarantees and transfers to allowance for loss on direct loans to farmers (removal of prior crop year loans from the portfolio)	(1,210)	(2,550)
Provision for loss or transfers from allowance for loss on direct loans to farmers (addition of current crop year loans)	1,044	1,854
Change in discount rate and estimated collection period	28	59
Currency remeasurement	(65)	186
Balance at end of year	$ 974	$ 1,177

Pension And Other Postretirem66

Pension And Other Postretirement Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Revised healthcare cost trend assumption	8.10%
Ultimate healthcare cost trend rate	4.50%
Year that rate reaches healthcare cost trend rate	2,026
Net actuarial loss expected in net periodic benefit cost during fiscal year 2014	$ 5,200
Prior service benefit expected in net periodic benefit cost during fiscal year 2014	$ 2,400
Percentage of total plan assets	94.00%
Percentage of total projected benefit obligation	82.00%
Expected company contributions in next fiscal year	$ 15,300
Pension and Other Postretirement Benefits Cost (Reversal of Cost)	2,300	$ 2,600	$ 2,400
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded status of the plans, end of year	$ 44,090	$ 49,099
Percentage of funded status of plans	87.00%
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Revised healthcare cost trend assumption	8.10%	6.70%	7.00%
Funded status of the plans, end of year	$ 29,478	$ 33,732
Percentage of funded status of plans	95.00%
Non-ERISA regulated and Other Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected company contributions in next fiscal year	$ 9,300
ERISA-regulated U.S. plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected company contributions in next fiscal year	$ 6,000

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, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Healthcare cost trend rate	8.10%
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rates: Benefit cost for plan year	4.10%	4.10%	3.80%
Discount rates: Benefit obligation at end of plan year	4.10%	4.10%	4.10%
Expected long-term return on plan assets: Benefit cost for plan year	7.00%	7.00%	7.25%
Salary scale: Benefit cost for plan year	4.00%	4.00%	4.50%
Salary scale: Benefit obligation at end of plan year	4.00%	4.00%	4.00%
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rates: Benefit cost for plan year	3.90%	3.80%	3.70%
Discount rates: Benefit obligation at end of plan year	3.90%	3.90%	3.80%
Expected long-term return on plan assets: Benefit cost for plan year	3.00%	3.00%	3.00%
Salary scale: Benefit cost for plan year	4.00%	4.00%	4.50%
Salary scale: Benefit obligation at end of plan year	4.00%	4.00%	4.00%
Healthcare cost trend rate	8.10%	6.70%	7.00%

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, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value, beginning of year	$ 220,151
Plan assets at fair value, end of year	229,568	$ 220,151
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation				$ 270,666	$ 266,764
Projected benefit obligation	269,250	275,505	$ 275,505	273,658	269,250
Projected benefit obligation, beginning of year	269,250	275,505
Service cost	5,177	5,382	5,953
Interest cost	10,801	10,441	10,037
Effect of discount rate change	1,209	489
Foreign currency exchange rate changes	1,268	(1,111)
Settlements	0	(10,955)
Other	781	4,108
Benefit payments	(14,828)	(14,609)
Projected benefit obligation, end of year	273,658	269,250	275,505
Plan assets at fair value, beginning of year	220,151	217,859
Actual return on plan assets	15,902	16,450
Employer contributions	7,891	10,676
Settlements	0	10,322
Foreign currency exchange rate changes	452	97
Plan assets at fair value, end of year	229,568	220,151	217,859
Funded status of the plans, end of year	(44,090)	(49,099)
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	36,786	37,225	37,225	$ 32,945	$ 36,786
Projected benefit obligation, beginning of year	36,786	37,225
Service cost	229	247	286
Interest cost	1,471	1,535	1,539
Effect of discount rate change	612	(191)
Foreign currency exchange rate changes	(151)	286
Settlements	0	0
Other	(3,212)	766
Benefit payments	(2,790)	(3,082)
Projected benefit obligation, end of year	32,945	36,786	37,225
Plan assets at fair value, beginning of year	3,054	1,565
Actual return on plan assets	105	71
Employer contributions	3,098	4,500
Settlements	0	0
Foreign currency exchange rate changes	0	0
Plan assets at fair value, end of year	3,467	3,054	$ 1,565
Funded status of the plans, end of year	$ (29,478)	$ (33,732)

Pension And Other Postretirem69

Pension And Other Postretirement Benefit Plans (Funded Status In Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Non-current liability (reported as pensions and other postretirement benefits)	$ (64,843)	$ (80,689)
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Non-current asset (included in other noncurrent assets)	2,308	1,710
Current liability (included in accounts payable and accrued expenses)	(8,599)	(1,106)
Non-current liability (reported as pensions and other postretirement benefits)	(37,796)	(49,703)
Amounts recognized in the consolidated balance sheets	(44,087)	(49,099)
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Non-current asset (included in other noncurrent assets)	0	0
Current liability (included in accounts payable and accrued expenses)	(2,431)	(2,746)
Non-current liability (reported as pensions and other postretirement benefits)	(27,047)	(30,986)
Amounts recognized in the consolidated balance sheets	$ (29,478)	$ (33,732)

Pension And Other Postretirem70

Pension And Other Postretirement Benefit Plans (Additional Information On Funded Status) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Pension Benefits [Member]
For Plans With A Projected Benefit Obligation In Excess Of Plan Assets:
Aggregate projected benefit obligation (PBO)	$ 261,581	$ 260,826
Aggregate fair value of plan assets	215,182	210,017
For Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets:
Aggregate accumulated benefit obligation (ABO)	258,708	258,424
Aggregate fair value of plan assets	215,182	210,017
Other Postretirement Benefits [Member]
For Plans With A Projected Benefit Obligation In Excess Of Plan Assets:
Aggregate projected benefit obligation (PBO)	32,945	36,786
Aggregate fair value of plan assets	$ 3,467	$ 3,054

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, 2018	Mar. 31, 2017	Mar. 31, 2016
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5,177	$ 5,382	$ 5,953
Interest cost	10,801	10,441	10,037
Expected return on plan assets	(15,962)	(15,154)	(15,110)
Settlement gain	0	(912)	0
Net amortization and deferral	3,735	4,576	4,394
Net periodic benefit cost	3,751	4,333	5,274
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	229	247	286
Interest cost	1,471	1,535	1,539
Expected return on plan assets	(87)	(42)	(58)
Settlement gain	0	0	0
Net amortization and deferral	(620)	(394)	(431)
Net periodic benefit cost	$ 993	$ 1,346	$ 1,336

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, 2018	Mar. 31, 2017
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain), beginning of year	$ 74,045	$ 79,299
Losses (gains) arising during the year	1,390	2,313
Amortization included in net periodic benefit cost during the year	6,102	7,567
Net actuarial loss (gain), end of year	69,333	74,045
Prior service cost (benefit), beginning of year	(12,070)	(15,061)
Prior service cost (benefit) arising during the year	0	0
Amortization included in net periodic benefit cost during the year	2,367	2,991
Prior service cost (benefit), end of year	(9,703)	(12,070)
Total amounts in accumulated other comprehensive loss at end of year, before income taxes	59,630	61,975
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain), beginning of year	(6,286)	(7,234)
Losses (gains) arising during the year	(1,580)	554
Amortization included in net periodic benefit cost during the year	(619)	(394)
Net actuarial loss (gain), end of year	(7,247)	(6,286)
Prior service cost (benefit), beginning of year	(112)	(108)
Prior service cost (benefit) arising during the year	(867)	(4)
Amortization included in net periodic benefit cost during the year	14	0
Prior service cost (benefit), end of year	(965)	(112)
Total amounts in accumulated other comprehensive loss at end of year, before income taxes	$ (8,212)	$ (6,398)

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, 2018	Mar. 31, 2017
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	29.00%
Actual Allocation	27.40%	31.90%
Domestic Equity Securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage	0.19
Domestic Equity Securities [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage	0.39
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	66.00%
Actual Allocation	65.90%	61.70%
Fixed Income Securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage	0.56
Fixed Income Securities [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage	0.76
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	5.00%
Actual Allocation	6.70%	6.40%
Real Estate Funds [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage	0
Real Estate Funds [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage	0.1

Pension And Other Postretirem74

Pension And Other Postretirement Benefit Plans (Estimated Future Benefit Payments) (Details) $ in Thousands	Mar. 31, 2018USD ($)
Pension Benefits [Member]
2,019	$ 22,601
2,020	16,117
2,021	17,622
2,022	17,235
2,023	17,497
2024 - 2028	91,433
Other Postretirement Benefits [Member]
2,019	2,819
2,020	2,726
2,021	2,639
2,022	2,536
2,023	2,458
2024 - 2028	$ 10,971

Pension And Other Postretirem75

Pension And Other Postretirement Benefit Plans (Fair Values Of Assets Under Fair Value Hierarchy) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Total investments	$ 229,568	$ 220,151
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	58,667	65,637
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	156,715	141,420
Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	14,186	13,094
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	200,996	193,851
Level 1 [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	58,667	65,637
Level 1 [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	142,329	128,214
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	10,836	10,134
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	10,836	10,134
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	17,736	16,166
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	3,550	3,072
Level 3 [Member] | Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Total investments	$ 14,186	$ 13,094

Common And Preferred Stock (Nar

Common And Preferred Stock (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2017	Mar. 31, 2018	Dec. 31, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2006
Class of Stock [Line Items]
Common stock, shares authorized		100,000,000		100,000,000
Common Stock, Shares, Outstanding		24,930,725		24,930,725
Preferred stock, shares authorized		5,000,000		5,000,000
Payments for Repurchase of Redeemable Convertible Preferred Stock	$ 178,400				$ 104,012
Dividends, Preferred Stock, Cash		$ 15,000			$ 11,061	$ 14,748
Stock Repurchase Program, Authorized Amount		100,000		$ 100,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 91,000		$ 91,000
Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized		100,000,000		100,000,000	100,000,000
Common Stock, Shares, Outstanding		24,930,725		24,930,725	25,274,506
Conversion of Stock, Shares Issued			2,487,118
Series A Junior Participating Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		500,000		500,000	500,000
Preferred stock, shares issued		0		0	0
Preferred stock, shares outstanding		0		0	0
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		220,000		220,000	220,000
Preferred stock, shares issued		0		0	0			220,000
Preferred stock, shares converted to common stock				0	111,072	0
Non-cash reclassification of preferred stock converted					$ 107,600
Stock Repurchased and Retired During Period, Shares		107,418
Preferred stock, shares outstanding		0		0	0	218,490	218,490
Stock Repurchased And Retired During Period Value Retained Earnings		$ 74,400

Common And Preferred Stock (Sch

Common And Preferred Stock (Schedule Of Repurchases Of Shares) (Details) - Common Stock [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Class of Stock [Line Items]
Number of shares repurchased | shares	403,624
Cost of shares repurchased (in thousands of dollars) | $	$ 21,610
Weighted-average cost per share | $ / shares	$ 53.54

Executive Stock Plans And Sto78

Executive Stock Plans And Stock-Based Compensation (Narrative) (Details) $ in Millions	12 Months Ended
	Mar. 31, 2018USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares	1,000,000
Unrecognized compensation expense related to stock-based awards | $	$ 5.6
Unrecognized compensation expense related to stock-based awards, weighted-average period expected to recognized	1 year 1 month 5 days
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	vested in equal one-third tranches one, two, and three years after the grant date
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

Executive Stock Plans And Sto79

Executive Stock Plans And Stock-Based Compensation (Summary Of Stock Option And SAR Activity) (Details) - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at beginning of year, Weighted-Average Exercise Price	$ 59.96	$ 59.82
Outstanding at beginning of year, Shares	152,201	169,601
Exercised, Shares	(135,334)	(6,200)
Cancelled/expired, Shares	(16,867)	(11,200)
Outstanding at end of year, Shares	0	152,201
Exercised, Weighted-Average Exercise Price	$ 61.72	$ 51.32
Cancelled/expired, Weighted-Average Exercise Price	45.82	62.66
Outstanding at end of year, Weighted-Average Exercise Price	$ 0	$ 59.96

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, 2017	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total intrinsic value of stock options and SARs exercised	$ 555	$ 26
Total fair value of SARs vested	$ 0	$ 0

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, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	72,032	74,776	80,932
Vested, Shares	(60,751)	(51,544)	(42,384)
Forfeited, Shares	0	(539)
Unvested at end of year, Shares	336,919	325,638	302,945	264,397
Granted, Weighted- Average Grant Date Fair Value	$ 64.13	$ 55.27	$ 51.62
Vested, Weighted- Average Grant Date Fair Value	45.51	44.57	41.64
Forfeited, Weighted- Average Grant Date Fair Value	0	55.63
Unvested at end of year, Weighted- Average Grant Date Fair Value	$ 55.77	$ 52.01	$ 49.95	$ 48.10
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	0	0	0
Vested, Shares	0	(17,900)	0
Forfeited, Shares	0	0
Unvested at end of year, Shares	30,200	30,200	48,100	48,100
Granted, Weighted- Average Grant Date Fair Value	$ 0	$ 0	$ 0
Vested, Weighted- Average Grant Date Fair Value	0	42.26	0
Forfeited, Weighted- Average Grant Date Fair Value	0	0
Unvested at end of year, Weighted- Average Grant Date Fair Value	$ 42.37	$ 42.37	$ 42.33	$ 42.33
Performance Share Awards Psas [Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	39,100	58,805	86,212
Vested, Shares	(41,667)	(52,230)	(85,387)
Forfeited, Shares	(6,783)	(525)
Unvested at end of year, Shares	151,000	160,350	154,300	153,475
Granted, Weighted- Average Grant Date Fair Value	$ 60.37	$ 49.17	$ 45.06
Vested, Weighted- Average Grant Date Fair Value	46.41	53.56	38.14
Forfeited, Weighted- Average Grant Date Fair Value	46.41	49.17
Unvested at end of year, Weighted- Average Grant Date Fair Value	$ 50.50	$ 46.86	$ 48.13	$ 45.58

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, 2018	Mar. 31, 2017	Mar. 31, 2016
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Total stock-based compensation expense	$ 7,610	$ 6,475	$ 5,206
Income tax benefit recorded on stock-based compensation expense	$ 2,397	$ 2,266	$ 1,822

Commitments And Other Matters83

Commitments And Other Matters (Narrative) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Commitments And Other Matters [Line Items]
Total amount of advances funded towards tobacco purchase	$ 123,000,000	$ 123,000,000
Commitments relating to agricultural materials,capital expenditures	52,000,000	52,000,000
Face amount of guarantee including unpaid accrued interest	20,000,000	20,000,000	$ 17,000,000
Fair value of the guarantees	1,000,000	1,000,000	1,000,000
Other contingent liabilities	$ 2,000,000	2,000,000
Crop supply agreement, term	2 years
Unfair benefit from green tobacco purchase contract		$ 105,000
Due period of accounts receivables		30
Allowance for doubtful accounts	$ 2,000,000	$ 2,000,000	4,000,000
Payments to Acquire Businesses, Net of Cash Acquired		0	0	$ 5,964,000
Fair value gain upon acquisition of partner's interest in joint venture		0	0	3,390,000
Fair value of assets upon acquisition of partner's interest in joint venture			12,000,000
The Company and subsidiary [Member]
Commitments And Other Matters [Line Items]
Fines imposed by FCC		197,000,000
The customer and subsidiary [Member]
Commitments And Other Matters [Line Items]
Fines imposed by FCC		1,000,000,000
Cooperatives under contract [Member]
Commitments And Other Matters [Line Items]
Growers cooperative		4
Total Cooperatives [Member]
Commitments And Other Matters [Line Items]
Growers cooperative		400
Philip Morris International, Inc [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		520,000,000	590,000,000	640,000,000
Imperial Tobacco Group, PLC [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		270,000,000	230,000,000	210,000,000
British American Tobacco plc [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		230,000,000	$ 220,000,000	$ 230,000,000
Six largest customers revenue percentage [Member]
Commitments And Other Matters [Line Items]
Revenues from customers		0.70
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	14,000,000
Reduction of Brazil Audit Assessment For Tax, Penalties, And Interest On Recoverable Value Added Tax Credits		15,000,000
Santa Catarina [Member] | Minimum [Member]
Commitments And Other Matters [Line Items]
Estimate of possible loss on remaining VAT audit assessment	0	0
Santa Catarina [Member] | Maximum [Member]
Commitments And Other Matters [Line Items]
Estimate of possible loss on remaining VAT audit assessment	15,000,000	15,000,000
Parana [Member]
Commitments And Other Matters [Line Items]
Brazil Audit Assessment For Tax, Penalties, And Interest On Recoverable Value Added Tax Credits	17,000,000	17,000,000
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	0
Parana [Member] | Maximum [Member]
Commitments And Other Matters [Line Items]
Estimate of possible loss on remaining VAT audit assessment	$ 5,000,000	5,000,000
Next Fiscal Year [Member]
Commitments And Other Matters [Line Items]
Tobacco purchase contracts		644,000,000
After Next Fiscal Year [Member]
Commitments And Other Matters [Line Items]
Tobacco purchase contracts		$ 114,000,000

Commitments And Other Matters84

Commitments And Other Matters (Schedule Of Accounts Receivable By Reportable Operating Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Consolidated accounts receivable	$ 377,119	$ 439,288
North America [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	44,726	111,520
Other Regions [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	296,213	294,799
Flue-Cured And Burley Leaf Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	340,939	406,319
Other Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Consolidated accounts receivable	$ 36,180	$ 32,969

Operating Segments (Narrative)

Operating Segments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
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	$ 89.3	$ 78.1	$ 81.8

Operating Segments (Operating R

Operating Segments (Operating Results For The Company's Reportable Segments) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		$ 2,033,947	$ 2,071,218	$ 2,120,373
Operating Income		171,487	178,351	181,647
Equity in pretax earnings of unconsolidated affiliates	[1]	(9,125)	(5,774)	(5,422)
Restructuring and impairment costs	[2]	0	(4,359)	(2,389)
Other income	[3]	0	0	3,390
Segment Assets		2,168,632	2,123,405	2,231,177
Goodwill		98,807	98,803	99,031
Depreciation and Amortization		34,893	35,970	37,644
Capital Expenditures		34,037	35,630	47,153
Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		2,033,947	2,071,218	2,120,373
Operating Income		180,612	188,484	186,068
Flue-Cured And Burley Leaf Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		1,790,879	1,839,429	1,900,798
Operating Income		170,483	178,500	174,743
Segment Assets		1,829,633	1,822,515	1,912,520
Goodwill		97,094	97,159	97,318
Depreciation and Amortization		29,319	30,732	33,501
Capital Expenditures		25,136	25,821	27,404
Flue-Cured And Burley Leaf Tobacco Operations [Member] | North America [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues		308,691	416,438	361,827
Operating Income		23,220	35,151	31,147
Segment Assets		368,672	357,406	364,003
Goodwill		0	0	0
Depreciation and Amortization		4,772	4,626	4,314
Capital Expenditures		3,316	4,202	2,282
Flue-Cured And Burley Leaf Tobacco Operations [Member] | Other Regions [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	[4]	1,482,188	1,422,991	1,538,971
Operating Income	[4]	147,263	143,349	143,596
Segment Assets	[4]	1,460,961	1,465,109	1,548,517
Goodwill	[4]	97,094	97,159	97,318
Depreciation and Amortization	[4]	24,547	26,106	29,187
Capital Expenditures	[4]	21,820	21,619	25,122
Other Tobacco Operations [Member]
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	[5]	243,068	231,789	219,575
Operating Income	[5]	10,129	9,984	11,325
Segment Assets	[5]	338,999	300,890	318,657
Goodwill	[5]	1,713	1,644	1,713
Depreciation and Amortization	[5]	5,574	5,238	4,143
Capital Expenditures	[5]	$ 8,901	$ 9,809	$ 19,749
[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).
[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 intercompany 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 $89.3 million, $78.1 million, and $81.8 million, at March 31, 2018, 2017, and 2016, 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, 2018	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 2,033,947	$ 2,071,218	$ 2,120,373
Long-Lived Assets	422,721	416,228	424,958
Belgium [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	339,391	320,735	371,580
United States [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	249,281	320,731	275,147
Long-Lived Assets	88,196	85,145	84,072
China [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	120,859	137,855	135,032
Germany [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	114,386	123,649	155,180
POLAND
Segment Reporting Information [Line Items]
Sales and other operating revenues	110,445	94,681	85,057
Russia (Member)
Segment Reporting Information [Line Items]
Sales and other operating revenues	49,619	84,784	109,559
NETHERLANDS
Segment Reporting Information [Line Items]
Sales and other operating revenues	45,698	91,266	121,767
Brazil [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	141,087	134,074	133,727
Mozambique [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	47,800	50,311	53,069
All Other Countries [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,004,268	897,517	867,051
Long-Lived Assets	$ 145,638	$ 146,698	$ 154,090

Accumulated Other Comprehensi88

Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Foreign currency translation: [Abstract]
Net gain (loss) on foreign currency translation, net of income taxes		$ 14,162	$ (6,899)	$ 3,934
Pension and other postretirement benefit plan: [Abstract]
Pension and other postretirement benefit plans, net of income taxes		2,613	1,475	1,004
Other Comprehensive Income (Loss), Tax [Abstract]
Total accumulated other comprehensive income (loss) at end of period		(60,064)	(69,559)	(72,350)
Forward Foreign Currency Exchange Contracts [Member]
Cash flow hedges: [Abstract]
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		223	(933)	2,509
Interest Rate Swap [Member]
Cash flow hedges: [Abstract]
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		4,498	8,395	(5,015)
Accumulated Translation Adjustment [Member]
Foreign currency translation: [Abstract]
Balance at beginning of year		(33,138)	(26,992)	(31,138)
Net gain (loss) on foreign currency translation, net of income taxes		14,162	(6,899)	3,934
Less: Net loss (gain) on foreign currency translation attributable to noncontrolling interests		372	753	212
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		14,534	(6,146)	4,146
Balance at end of period		(23,942)	(33,138)	(26,992)
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on net gain (loss) on foreign currency translation		(5,806)	3,715	(2,119)
Reclassification of Tax Effects out of Accumulated Other Comprehensive Income	[1]	(5,338)	0	0
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		(258)	675	(1,834)
Net gain (loss) on derivative instruments, net of income taxes		1,416	(1,841)	1,969
Reclassifications to earnings, net of income taxes	[2]	(1,193)	908	540
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		223	(933)	2,509
Balance at end of period		(35)	(258)	675
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on net gain (loss) on derivative instruments		(944)	991	(1,060)
Taxes on reclassifications to net income		827	(489)	(291)
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		1,398	(6,997)	(1,982)
Net gain (loss) on derivative instruments, net of income taxes		3,687	5,849	(8,335)
Reclassifications to earnings, net of income taxes	[3]	811	2,546	3,320
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes		4,498	8,395	(5,015)
Balance at end of period		6,528	1,398	(6,997)
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on net gain (loss) on derivative instruments		(1,182)	(3,150)	4,489
Taxes on reclassifications to net income		(433)	(1,370)	(1,788)
Reclassification of Tax Effects out of Accumulated Other Comprehensive Income	[1]	632	0	0
Accumulated Defined Benefit Plans Adjustment [Member]
Pension and other postretirement benefit plan: [Abstract]
Balance at beginning of year		(37,561)	(39,036)	(40,040)
Gains arising during period, net of income taxes	[4]	295	(1,395)	(1,921)
Amortization included in earnings, net of income taxes	[5]	2,318	2,870	2,925
Pension and other postretirement benefit plans, net of income taxes		2,613	1,475	1,004
Balance at end of period		(42,615)	(37,561)	(39,036)
Other Comprehensive Income (Loss), Tax [Abstract]
Taxes on losses (gains) arising during the period		(527)	751	1,035
Taxes on amortization included in net income		(933)	(1,546)	(1,576)
Reclassification of Tax Effects out of Accumulated Other Comprehensive Income	[1]	$ (7,667)	$ 0	$ 0
[1]	In the fourth quarter of fiscal year 2018, the Company adopted FASB Accounting Standards Update 2018-02, which addressed the disproportionate income tax effects on pretax amounts recorded in accumulated other comprehensive income (loss) arising from the enactment of the Tax Cuts and Jobs Act of 2017. With the adoption of ASU 2018-02, the disproportionate tax effects were reclassified to retained earnings, and the resulting tax effects remaining in accumulated other comprehensive income (loss) are reflective of the rates which those amounts will ultimately be taxed.
[2]	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.
[3]	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.
[4]	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. See Note 10 for additional information.
[5]	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								9 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Unaudited Quarterly Financial Data [Line Items]
Income taxes										$ 50,509	$ 56,732	$ 54,430
Restructuring and impairment costs										0	4,359	2,389
Stock Repurchased And Retired During Period Value Retained Earnings										0	(74,353)	0
Net income attributable to Universal Corporation	$ 30,518	$ 45,400	$ 26,167	$ 3,577	$ 32,869	$ 53,647	$ 25,264	$ (5,476)		$ 105,662	$ 106,304	$ 109,016
Diluted earnings per share	$ 1.20	$ 1.78	$ 1.02	$ 0.14	$ (1.64)	$ 1.92	$ 0.90	$ (0.40)		$ 4.14	$ 0.88	$ 3.92
Series B 6.75% Convertible Perpetual Preferred Stock [Member]
Unaudited Quarterly Financial Data [Line Items]
Stock Repurchased And Retired During Period Value Retained Earnings											$ 74,353
Stock Repurchased and Retired During Period, Shares	107,418
Diluted earnings per share	$ (2.90)
HUNGARY
Unaudited Quarterly Financial Data [Line Items]
Restructuring and impairment costs			$ 3,700								$ 4,400
Net income attributable to Universal Corporation			$ (2,400)
Diluted earnings per share			$ (0.09)
Subsequent to Tax Cuts and Jobs Act [Member]
Unaudited Quarterly Financial Data [Line Items]
Income taxes	$ (6,000)	$ 10,500							$ 10,500	$ 4,500
Diluted earnings per share	$ (0.24)	$ 0.41

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, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Sales and other operating revenues	$ 607,496	$ 653,581	$ 488,248	$ 284,622	$ 650,030	$ 668,771	$ 456,942	$ 295,475
Gross profit	116,497	108,518	93,076	53,857	119,185	135,453	87,844	52,197
Net income	34,322	50,219	28,306	3,321	36,450	57,062	26,498	(7,504)	$ 116,168	$ 112,506	$ 118,148
Net income attributable to Universal Corporation	$ 30,518	$ 45,400	$ 26,167	$ 3,577	32,869	53,647	25,264	(5,476)	105,662	106,304	109,016
Earnings available to Universal Corporation common shareholders					$ (41,484)	$ 49,960	$ 21,577	$ (9,163)	$ 105,662	$ 20,890	$ 94,268
Basic	$ 1.21	$ 1.80	$ 1.03	$ 0.14	$ (1.64)	$ 2.17	$ 0.95	$ (0.40)	$ 4.18	$ 0.89	$ 4.16
Diluted	1.20	1.78	1.02	0.14	(1.64)	1.92	0.90	(0.40)	4.14	0.88	3.92
Preferred stock, cash dividends declared per share	0	0	0	0	0	16.88	16.87	16.88	0	50.63	67.50
Common stock, cash dividends declared per share	0.55	0.55	0.54	0.54	0.54	0.54	0.53	0.53	2.18	2.14	$ 2.10
Market price range of common stock, high	53.85	60.45	65.90	75.70	83.35	64.20	61.69	57.75	53.85	83.35
Market price range of common stock, low	$ 45.95	$ 52.05	$ 55	$ 63.15	$ 63.30	$ 52.40	$ 55.29	$ 52.26	$ 45.95	$ 63.30

Schedule II - Valuation And Q91

Schedule II - Valuation And Qualifying Accounts (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Allowance for doubtful accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 3,947	$ 9,099	$ 5,482
Net Additions (Reversals) Charged to Expense	(2,006)	(5,071)	6,970
Additions Charged to Other Accounts	0	0	0
Deductions	(158)	(81)	(3,353)
Balance at End of Period	1,783	3,947	9,099
Allowance for supplier accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	27,074	28,865	34,673
Net Additions (Reversals) Charged to Expense	3,730	(857)	815
Additions Charged to Other Accounts	0	0	0
Deductions	(9,084)	(934)	(6,623)
Balance at End of Period	21,720	27,074	28,865
Allowance for recoverable taxes [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	12,552	18,752	23,218
Net Additions (Reversals) Charged to Expense	1,732	(3,392)	1,755
Additions Charged to Other Accounts	0	0	0
Deductions	395	(2,808)	(6,221)
Balance at End of Period	$ 14,679	$ 12,552	$ 18,752