Pyxus International (PYYX) 10-Q 11 Feb 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2018	Jan. 31, 2019
Document and Entity Information
Entity Registrant Name	PYXUS INTERNATIONAL, INC.
Entity Central Index Key	939,930
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Emerging Growth Company	false
Entity Small Business	false
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		9,080,984

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Sales and other operating revenues	$ 524,487	$ 477,783	$ 1,210,351	$ 1,202,115
Cost of goods and services sold	449,776	404,282	1,045,042	1,030,648
Gross profit	74,711	73,501	165,309	171,467
Selling, general, and administrative expenses	41,680	34,283	118,759	102,248
Other income, net	7,991	1,019	13,473	9,909
Restructuring and asset impairment charges	1,667	0	3,390	0
Operating income	39,355	40,237	56,633	79,128
Debt retirement expense (benefit)	(1,281)	0	(1,754)	(2,975)
Interest expense (includes debt amortization)	33,947	33,564	102,182	101,105
Interest income	962	601	2,587	2,295
Income (loss) before income taxes and other items	7,651	7,274	(41,208)	(16,707)
Income tax expense (benefit)	17,354	(73,282)	26,900	(66,233)
Equity in net income (loss) of investee companies	4,701	7,770	6,852	7,121
Net (loss) income	(5,002)	88,326	(61,256)	56,647
Net income (loss) attributable to noncontrolling interests	93	(130)	(769)	(289)
Net (loss) income attributable to Pyxus International, Inc.	$ (5,095)	$ 88,456	$ (60,487)	$ 56,936
(Loss) earnings per share:
Basic (USD per share)	$ (0.56)	$ 9.83	$ (6.69)	$ 6.34
Diluted (USD per share)	$ (0.56)	$ 9.80	$ (6.69)	$ 6.32
Weighted average number of shares outstanding:
Basic (shares)	9,068	9,001	9,048	8,982
Diluted (shares)	9,068	9,029	9,048	9,009

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Debt amortization	$ 2,325	$ 2,734	$ 7,020	$ 7,921

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (5,002)	$ 88,326	$ (61,256)	$ 56,647
Other comprehensive (loss) income, net of tax:
Currency translation adjustment	(2,310)	725	(7,628)	6,817
Defined benefit pension amounts reclassified to income	285	459	853	1,376
Change in pension liability for settlements	(1,162)	0	(391)	0
Change in the fair value of derivatives designated as cash flow hedges	(3,752)	(64)	(3,752)	(626)
Amounts reclassified to income for derivatives	2,161	656	1,445	727
Total other comprehensive (loss) income, net of tax	(4,778)	1,776	(9,473)	8,294
Total comprehensive (loss) income	(9,780)	90,102	(70,729)	64,941
Comprehensive loss attributable to noncontrolling interests	(430)	(130)	(1,216)	(289)
Comprehensive (loss) income attributable to Pyxus International, Inc.	$ (9,350)	$ 90,232	$ (69,513)	$ 65,230

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 209,160	$ 264,660	$ 209,490
Restricted cash	6,335	2,984	2,210
Trade receivables, net	268,747	285,554	222,451
Other receivables	21,305	18,845	18,366
Accounts receivable, related parties	5,077	8,188	9,832
Inventories	827,782	698,087	905,680
Advances to tobacco suppliers	51,135	30,482	69,872
Recoverable income taxes	8,538	5,994	19,025
Prepaid expenses	17,325	17,181	17,730
Other current assets	16,212	17,628	16,774
Total current assets	1,431,616	1,349,603	1,491,430
Restricted cash	389	389	539
Investments in unconsolidated affiliates	68,351	68,151	67,069
Goodwill	34,109	27,546	16,463
Other intangible assets	70,074	70,724	41,837
Deferred income taxes, net	106,610	130,520	128,979
Long-term recoverable income taxes	898	1,795	0
Other deferred charges	2,634	3,388	3,848
Other noncurrent assets	44,256	60,234	54,552
Property, plant, and equipment, net	264,782	254,281	249,471
Total assets	2,023,719	1,966,631	2,054,188
Current liabilities
Notes payable to banks	583,407	427,277	536,170
Accounts payable	49,373	76,506	46,678
Accounts payable, related parties	18,372	14,835	22,939
Advances from customers	45,900	24,128	31,646
Accrued expenses and other current liabilities	98,233	88,380	92,446
Income taxes payable	6,513	6,767	14,902
Current portion of long-term debt	165	164	142
Total current liabilities	801,963	638,057	744,923
Long-term taxes payable	10,718	10,027	15,110
Long-term debt	897,195	920,143	918,820
Deferred income taxes	12,437	28,937	15,649
Liability for unrecognized tax benefits	11,026	11,191	10,522
Pension, postretirement, and other long-term liabilities	72,013	75,448	76,442
Total liabilities	1,805,352	1,683,803	1,781,466
Commitments and contingencies
Common Stock—no par value:
Authorized shares (shares)	250,000,000	250,000,000	250,000,000
Issued shares (shares)	9,866,000	9,808,000	9,794,000
Issued shares	$ 474,603	$ 473,476	$ 473,156
Retained deficit	(213,905)	(156,348)	(151,848)
Accumulated other comprehensive loss	(57,218)	(45,262)	(51,753)
Total stockholders’ equity of Pyxus International, Inc.	203,480	271,866	269,555
Noncontrolling interests	14,887	10,962	3,167
Total stockholders’ equity	218,367	282,828	272,722
Total liabilities and stockholders’ equity	$ 2,023,719	$ 1,966,631	$ 2,054,188

CONDENSED STATEMENTS OF CONSOLI

CONDENSED STATEMENTS OF CONSOLIDATED STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Retained Deficit	Currency Translation Adjustment	Pensions, Net of Tax	Loss on Derivatives, Net of Tax	Noncontrolling Interests
Balance at beginning of period at Mar. 31, 2017	$ 206,710	$ 472,349	$ (208,784)	$ (22,293)	$ (36,654)	$ (1,100)	$ 3,192
Statement of Consolidated Stockholders' Equity
Net (loss) income	(32,633)		(32,543)				(90)
Stock-based compensation	291	291
Other comprehensive income (loss), net of tax	3,639			3,742	459	(562)
Balance at end of period at Jun. 30, 2017	178,007	472,640	(241,327)	(18,551)	(36,195)	(1,662)	3,102
Balance at beginning of period at Mar. 31, 2017	206,710	472,349	(208,784)	(22,293)	(36,654)	(1,100)	3,192
Statement of Consolidated Stockholders' Equity
Net (loss) income	56,647
Other comprehensive income (loss), net of tax	8,294
Balance at end of period at Dec. 31, 2017	272,722	473,156	(151,848)	(15,476)	(35,278)	(999)	3,167
Balance at beginning of period at Jun. 30, 2017	178,007	472,640	(241,327)	(18,551)	(36,195)	(1,662)	3,102
Statement of Consolidated Stockholders' Equity
Net (loss) income	956		1,024				(68)
Restricted stock surrender	(2)	(2)
Stock-based compensation	253	253
Other comprehensive income (loss), net of tax	2,879			2,349	459	71
Balance at end of period at Sep. 30, 2017	182,092	472,892	(240,304)	(16,202)	(35,736)	(1,591)	3,033
Statement of Consolidated Stockholders' Equity
Net (loss) income	88,326		88,456				(130)
Restricted stock surrender	(6)	(6)
Stock-based compensation	270	270
Purchase of investment in subsidiary	264						264
Other comprehensive income (loss), net of tax	1,776			726	458	592
Balance at end of period at Dec. 31, 2017	272,722	473,156	(151,848)	(15,476)	(35,278)	(999)	3,167
Balance at beginning of period at Mar. 31, 2018	282,828	473,476	(156,348)	(12,682)	(32,580)	0	10,962
Statement of Consolidated Stockholders' Equity
Net (loss) income	(1,413)		(759)				(654)
Stock-based compensation	295	295
Purchase of investment in subsidiary	5,531						5,531
Other comprehensive income (loss), net of tax	(6,441)			(5,136)	366	(1,496)	(175)
Balance at end of period at Jun. 30, 2018	280,800	473,771	(157,107)	(17,818)	(32,214)	(1,496)	15,664
Balance at beginning of period at Mar. 31, 2018	282,828	473,476	(156,348)	(12,682)	(32,580)	0	10,962
Statement of Consolidated Stockholders' Equity
Net (loss) income	(61,256)
Other comprehensive income (loss), net of tax	(9,473)
Balance at end of period at Dec. 31, 2018	218,367	474,603	(213,905)	(19,862)	(35,049)	(2,307)	14,887
Balance at beginning of period at Jun. 30, 2018	280,800	473,771	(157,107)	(17,818)	(32,214)	(1,496)	15,664
Statement of Consolidated Stockholders' Equity
Net (loss) income	(54,842)		(54,634)				(208)
Restricted stock surrender	(8)	(8)
Stock-based compensation	458	458
Other comprehensive income (loss), net of tax	1,747			(257)	973	780	251
Balance at end of period at Sep. 30, 2018	228,155	474,221	(211,741)	(18,075)	(31,241)	(716)	15,707
Statement of Consolidated Stockholders' Equity
Impact of adoption of ASU 2018-02			2,931		(2,931)
Net (loss) income	(5,002)		(5,095)				93
Restricted stock surrender	(20)	(20)
Stock-based compensation	402	402
Dividends paid	(390)						(390)
Other comprehensive income (loss), net of tax	(4,778)			(1,787)	(877)	(1,591)	(523)
Balance at end of period at Dec. 31, 2018	$ 218,367	$ 474,603	$ (213,905)	$ (19,862)	$ (35,049)	$ (2,307)	$ 14,887

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
OPERATING ACTIVITIES:
Net (loss) income	$ (61,256)	$ 56,647
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation and amortization	26,887	24,845
Debt amortization/interest	8,739	9,514
Debt retirement benefit	(1,754)	(2,975)
(Gain) loss on foreign currency transactions	(1,220)	4,951
Restructuring and asset impairment charges	3,390	0
Gain on sale of property, plant, and equipment	(2,155)	(89)
Gain on insurance proceeds received for destroyed buildings	(6,460)	0
Equity in net loss of unconsolidated affiliates, net of dividends	(1,486)	(5,025)
Bad debt expenses (recovery)	2,136
Stock-based compensation	1,155	869
Changes in operating assets and liabilities, net	(317,612)	(519,946)
Other, net	11,143	1,129
Net cash used by operating activities	(338,493)	(430,202)
INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(35,327)	(17,395)
Proceeds from sale of property, plant, and equipment	5,179	1,832
Collections on beneficial interests on securitized trade receivables	171,565	183,610
Insurance proceeds received for destroyed buildings	6,460	0
Payments to acquire controlling interests, net of cash acquired	(8,692)	0
Payments to acquire equity method investment	0	(10,000)
Other, net	(886)	(119)
Net cash provided by investing activities	138,299	157,928
FINANCING ACTIVITIES:
Net proceeds from short-term borrowings	173,548	48,159
Repayment of long-term borrowings	(25,132)	(34,961)
Debt issuance cost	(5,072)	(5,010)
Other, net	459	72
Net cash provided by financing activities	142,885	8,116
Effect of exchange rate changes on cash	5,160	978
Decrease in cash, cash equivalents, and restricted cash	(52,149)	(263,180)
Cash and cash equivalents at beginning of period	264,660	473,110
Restricted cash at beginning of period	3,373	2,309
Cash, cash equivalents, and restricted cash at end of period	215,884	212,239
Other information:
Cash paid for income taxes	19,650	12,719
Cash paid for interest	81,622	79,083
Cash received from interest	(2,340)	(1,647)
Non-cash amounts obtained as a beneficial interest in exchange for transferring trade receivables in a securitization transaction	$ 161,943	$ 177,259

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company changed its name from Alliance One International, Inc. to Pyxus International, Inc. on September 12, 2018. Due to the seasonal nature of the Company’s business, the results of operations for any fiscal quarter are not necessarily indicative of the operating results that may be attained for other quarters or a full fiscal year. In the opinion of management, all normal and recurring adjustments necessary for fair statement of financial position, results of operations, and cash flows at the dates and for the periods presented have been included. All intercompany accounts and transactions have been eliminated. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2018. Segments During the three months ended December 31, 2018, the Company realigned its reportable segments to reflect changes to how the business is managed and results are reviewed by the Company's chief operating decision maker. In connection with the "One Tomorrow Transformation" initiative, the Company changed its organizational structure to support its diversified business lines. Prior to the realignment, the Company assessed financial information based on geographic regions. The Company's diversification efforts have resulted in management placing emphasis on data by business line in addition to the historical focus by geography. As a result of this realignment, the reportable segments now include Leaf - North America, Leaf - Other Regions, and Other Products and Services. Prior period segment financial information has been revised to conform to the current year presentation. Taxes Collected from Customers Certain subsidiaries are subject to value-added taxes on local sales. The amounts included in sales and other operating revenues and cost of goods and services sold were $4,858 and $2,703 for the three months ended December 31, 2018 and 2017, respectively, and $14,692 and $13,801 for the nine months ended December 31, 2018 and 2017, respectively. Restricted Cash As of December 31, 2018 and 2017, and March 31, 2018, $1,220, $2,006 and $1,261 of cash was held on deposit as a compensating balance for short-term borrowings, respectively. As of December 31, 2018 and 2017, and March 31, 2018, zero, zero, and $1,487 of cash was restricted for capital investment, respectively. As of December 31, 2018 and 2017, and March 31, 2018, $2,314, zero, and zero of cash was held in escrow from receipt of customer payments. As of December 31, 2018, the Company held $2,644 in the Zimbabwe Real Time Gross Settlement (“RTGS”) system. RTGS is a local currency equivalent that provides for exchange 1:1 with the U.S. Dollar ("USD"). In order to exchange RTGS units to USD, the Company must obtain foreign currency resources from the Reserve Bank of Zimbabwe subject to the monetary and exchange control policy in Zimbabwe. Property, Plant, and Equipment Total property and equipment purchases for the nine months ended December 31, 2018 and 2017 included $1,501 and $279 that were unpaid and included in accounts payable, respectively. Property and equipment sales for the nine months ended December 31, 2018 and 2017 included $1,473 and zero that were uncollected and included in receivables, respectively. 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued) Capitalized Interest Interest is capitalized on significant construction in progress using the weighted average interest rate during the capitalization period. Interest of $1,578 and zero was capitalized for the three months and nine months ended December 31, 2018 and 2017, respectively. Capitalized interest of $1,197 is included in property, plant, and equipment, net in the condensed consolidated balance sheets. Capitalized interest of $381 is included in investments in unconsolidated affiliates in the condensed consolidated balance sheets. Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2014-09, Revenue Recognition (Topic 606): Revenue from Contracts with Customers. ASU 2014-09 outlines a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. The Company adopted this guidance on April 1, 2018 for all contracts using the modified retrospective approach. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The adoption of this guidance resulted in additional disclosures. See "Note 2. Revenue Recognition" for more information. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 clarifies the classification of certain cash receipts and cash payments to reduce the diversity in practice on how these activities are presented on the statement of cash flows. The Company adopted this guidance on April 1, 2018 using the retrospective approach. The adoption of this guidance resulted in the following changes as of December 31, 2017 to the condensed consolidated statement cash flows: cash collections from beneficial interests of $183,610 was reclassified from operating activities to investing activities and $177,259 obtained as a beneficial interest for transferring trade receivables in a securitization transaction has been added as a non-cash disclosure. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . ASU 2016-18 clarifies the presentation of restricted cash on the statement of cash flows to reduce diversity in practice on how restricted cash is presented on the statement of cash flows. The Company adopted this guidance on April 1, 2018 using the retrospective approach. The adoption of this guidance resulted in the following changes: a reclassification of $2,749 and $3,373 from other current and other long-term assets in total to separately stated line items for restricted cash in the condensed consolidated balance sheets as of December 31, 2017 and March 31, 2018, respectively; the change in restricted cash of $440 presented in investing activities in the consolidated statements of cash flows is eliminated as of December 31, 2017; and the inclusion of $2,749 of restricted cash in the calculation of cash, cash equivalents, and restricted cash at the end of the period in the condensed consolidated statements of cash flows as of December 31, 2017. In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. ASU 2017-07 was issued to increase the consistency, transparency, and usefulness of financial information of retirement benefits by disaggregating the service cost component from the other components of net benefit cost. The Company adopted this guidance on April 1, 2018 using the retrospective approach. The adoption of this guidance resulted in a reclassification of $342 and $1,026 from selling, general, and administrative expenses to interest expense in the condensed consolidated statement of operations for the three months and nine months ended December 31, 2017, respectively. See "Note 13. Pension and Other Postretirement Benefits" for more information. In August 2017, the FASB issued ASU No. 2017-12, Derivative and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 was issued to better align risk and management activities to financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The Company early adopted this guidance on April 1, 2018 using the modified retrospective approach. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements and related disclosures. 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued) In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU 2018-02 allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Job Acts (the "Tax Act"). The tax effects unrelated to the Tax Act are released from accumulated other comprehensive income using either the specific identification approach or the portfolio approach based on the nature of the underlying item. The Company adopted this guidance on December 31, 2018 using modified retrospective approach. The adoption of this guidance resulted in a reclassification of $2,931 of stranded tax effects from accumulated other comprehensive loss to retained deficit due to reduction in federal corporate tax rate. The stranded tax effects are derived from the deferred tax balance on pension obligations as a result of the lower U.S. Federal Corporate tax rate. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . ASU 2018-13 eliminates, adds, and modifies certain disclosure requirements for fair value measurements. The Company adopted this guidance prospectively on September 30, 2018. The adoption of this guidance resulted in the addition of the weighted average of the significant observable inputs used to develop Level 3 fair value measurements in its disclosures. See "Note 17. Fair Value Measurements" for more information. Recent Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). Subsequently, the FASB has issued ASUs which further clarify this guidance. ASU 2016-02 requires lessees to recognize right-of-use assets and liabilities arising from leases on the balance sheet. In addition, leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance also requires disclosures about the amount, timing, and uncertainty of cash flows arising from leases. This guidance will be adopted using a modified retrospective approach and is effective for the Company on April 1, 2019. The Company has formed a project team to evaluate and implement this guidance. The Company has completed a scoping assessment of leasing arrangements and service agreements. The Company has elected to adopt an accounting policy for all asset classes to include both the lease and non-lease components as a single component and account for it as a lease. The Company has elected to utilize the transition practical expedients, as prescribed in ASC 842-10-65-1(f). The adoption of this guidance is expected to materially increase assets and liabilities on the consolidated balance sheets. The impact on our results of operations and cash flows is not expected to be material. The Company does not expect the adoption of this guidance to have a material impact on its existing debt covenants. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 provides financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. This guidance will be adopted using a modified retrospective approach and is effective for the Company on April 1, 2020. The Company is evaluating the effect that adoption of this guidance will have on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans . ASU 2018-14 removes disclosures, clarifies specific disclosure requirements, and adds disclosure requirements. This guidance will be adopted using a retrospective approach and is effective for the Company on March 31, 2020. The Company is evaluating the effect that adoption of this guidance will have on its consolidated financial statements and related disclosures. In October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to the Related Party Guidance for Variable Interest Entities. ASU 2018-17 changes how entities evaluate decision-making fees under the variable interest entity guidance. To determine whether decision-making fees represent a variable interest, an entity considers indirect interests held through related parties under common control on a proportional basis, rather than in their entirety. This guidance will be adopted using a retrospective approach and is effective for the Company on April 1, 2020. The Company is evaluating the effect that adoption of this guidance will have on its consolidated financial statements and related disclosures.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITIONThe Company derives revenue from contracts with customers, primarily from the sale of processed tobacco and fees charged for processing and related services to the manufacturers of tobacco products. The Company does not disclose information related to its unsatisfied performance obligations with an expected duration of one year or less. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. The Company’s performance obligations are satisfied when the transfer of control of the distinct product or service to the customer occurs. For products, control is transferred and revenue is recognized at a point in time, in accordance with the shipping terms of the contract. For services, control is transferred and 2. REVENUE RECOGNITION (continued) revenue is recognized over time using the input method based on a kilogram of packed tobacco. The Company applied a practical expedient to account for shipping and handling costs as costs to fulfill its performance obligations, irrespective of when control transfers. A kilogram of processed tobacco (or tobacco processing services resulting in a kilogram of processed tobacco) is the material and distinct performance obligation for the Company’s tobacco revenue streams; therefore, consideration is attributed to the performance of this obligation. Revenue is measured as the amount of consideration to which the Company expects to be entitled to receive in exchange for transferring goods or providing services. Contract costs primarily include labor, material, shipping and handling, and overhead expenses. Certain subsidiaries are subject to value-added taxes on local sales. These amounts have been included in sales and other operating revenues and cost of goods and services sold. The following disaggregates sales and other operating revenues by major source: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Leaf - North America: Product revenue $ 60,280 $ 152,725 Processing and other revenues 17,570 29,039 Total sales and other operating revenues 77,850 181,764 Leaf - Other Regions: Product revenue 432,423 977,503 Processing and other revenues 9,296 40,752 Total sales and other operating revenues 441,719 1,018,255 Other Products and Services: Total sales and other operating revenues 1 4,918 10,332 Total sales and other operating revenues $ 524,487 $ 1,210,351 (1) Other products and services is primarily composed of revenue from the sale of legal cannabis in Canada and e-liquids product revenue. Product revenue is primarily processed tobacco sold to the customer. Processing and other revenues are mainly contracts to process green tobacco owned and provided by the customers. During processing, ownership remains with the customers and the Company is engaged to perform processing services. Assets Recognized from the Costs to Obtain a Contract with a Customer The Company records product and supply contract intangible assets for the incremental costs of obtaining a contract with a customer if the Company expects the benefit of those costs to be longer than one year, and if such costs are material. The Company applied a practical expedient to expense costs as incurred for costs to obtain a contract when the amortization period would have been one year or less. Capitalized costs to obtain a contract as of December 31, 2018 were $4,896 and classified as other intangible assets. See "Note 5. Goodwill and Intangibles” for more information. Significant Judgments The Company has identified two main forms of variable consideration in its contracts with customers: warehousing fees for storing customer-controlled tobacco until the customer requests shipment and claims resulting from tobacco that do not meet customer specifications. Warehousing fees are built into the price of tobacco based on the customers' best estimate of the date they will request shipment or separately charged using a per-day storage rate. When the Company enters into a contract with a customer, the price communicated is the amount of consideration the Company expects to receive. Price adjustments for tobacco not meeting customer specifications for shrinkage, improper blend or chemical makeup, etc. are handled through a claims allowance that is assessed quarterly. 2. REVENUE RECOGNITION (continued) The following summarizes activity in the claims allowance: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Balance, beginning of period $ 1,360 $ 1,100 Additions 526 2,258 Payments (476) (1,948) Balance, end of period $ 1,410 $ 1,410 Contract Balances The Company generally records a receivable when revenue is recognized. Timing of revenue recognition may differ from the timing of payment from customers. Payment terms and conditions vary by contract, although terms generally include a requirement of payment within 30 to 60 days. The Company applied a practical expedient not to adjust the transaction price for the effects of financing components as the Company expects that the period between when the Company transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. As a result, where the timing of revenue recognition differs from the timing of payment, the Company determined its contracts do not include a significant financing component. The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the trade receivables, net balance. The Company determines the allowance based on historical experience, and other currently available information. The following summarizes activity in the allowance for doubtful accounts: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Balance, beginning of period $ (7,324) $ (7,055) Additions (1,774) (2,136) Writes-offs (15) 78 Balance, end of period (9,113) (9,113) Trade receivables 277,860 277,860 Trade receivables, net $ 268,747 $ 268,747

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Accounting for Uncertainty in Income Taxes As of December 31, 2018, the Company’s unrecognized tax benefits totaled $9,153, of which $8,912 would impact the Company’s effective tax rate, if recognized. The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2018, accrued interest and penalties totaled $1,176 and $939, respectively. The Company expects to continue accruing interest expense related to the unrecognized tax benefits described above. The Company may be subject to fluctuations in the unrecognized tax benefit due to currency exchange rate movements. During the nine months ended December 31, 2018, the Company reached an income tax settlement with the Kenyan Revenue Authority for $1,166. An uncertain tax position had previously been recorded of $2,692, which resulted in a favorable adjustment to tax expense (as the amount was settled for less than it was accrued) which totaled $1,526. Furthermore, the Company recorded additional unrecognized tax benefits of $1,987 for a return position taken in Kenya related to currency exchange losses on its amended Kenyan tax return for years 2013 - 2015. In addition, the Company entered into negotiations with the Zimbabwe Revenue Authority during its amnesty program to settle asserted issues. The Company has thus far paid $2,988 and has accrued another $964 in anticipation of the settlement. These amounts have not previously been accrued as an uncertain tax position. The Company does not currently foresee any changes in the amount of its unrecognized tax benefits in the next twelve months but acknowledges circumstances can change due to unexpected developments in the law. In certain jurisdictions, tax authorities have challenged positions that the Company has taken that resulted in recognizing benefits that are material to its financial statements. The Company believes it is more likely than not that it will prevail in these situations and accordingly has not 3. INCOME TAXES (continued) recorded liabilities for these positions. The Company expects the challenged positions to be settled at a time greater than twelve months from its balance sheet date. The Company and its subsidiaries file a U.S. federal consolidated income tax return as well as returns in several U.S. states and a number of foreign jurisdictions. As of December 31, 2018, the Company’s earliest open tax year for U.S. federal income tax purposes is its fiscal year ended March 31, 2015; however, the Company's net operating loss carryovers from prior periods remain subject to adjustment. Open tax years in state and foreign jurisdictions generally range from three to six years. Enactment of Tax Cuts and Jobs Act (“Tax Act”) In December 2017, the SEC staff issued Staff Accounting Bulletin 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC Topic 740—Income Taxes. As a result of the Tax Act, and in accordance with SAB 118, the Company recorded provisional tax expense in the three months ended December 31, 2017 related to the deemed repatriation tax, the revaluation of deferred tax assets, and adjustments to liabilities related to the repatriation of foreign earnings. During the nine months ended December 31, 2018, the Company recorded adjustments to the provisional tax expense initially recorded in the December 31, 2017 financial statements upon adoption of the Tax Act. An adjustment of $1,827 was made, increasing the deemed repatriation tax liability. As a result of this adjustment, deferred taxes related to future remittances of foreign earnings were impacted by an immaterial amount. The changes were a result of additional regulatory guidance that was issued, as well as further analysis of the Tax Act and the Company’s facts and circumstances. Additionally, the Company will continue to be impacted by the expanded interest limitation and the tax on Global Intangible Low-Taxed Income (“GILTI”), which the Company has elected to treat as a period cost if and when incurred. As of December 31, 2018, the Company has completed the accounting for the income tax effects of the Tax Act. Provision for the Nine Months Ended December 31, 2018 The effective tax rate used for the nine months ended December 31, 2018 and 2017 was (65.3)% and 396.4%, respectively. The primary difference in the effective tax rate this year compared to last year is the impact of U.S. tax reform, which resulted in a change in the taxability of operations, principally due to the impact of the new section 163(j) interest addback and GILTI. The impact was accentuated by the net foreign exchange effects. The significant difference in the effective tax rate for the nine months ended December 31, 2018 from the U.S. federal statutory rate is primarily due to the impact of U.S. tax reform and changes resulting from net foreign exchange effects.

GUARANTEES

GUARANTEES	9 Months Ended
	Dec. 31, 2018
Guarantees [Abstract]
GUARANTEES	GUARANTEES The following summarizes amounts guaranteed and the fair value of those guarantees: December 31, 2018 December 31, 2017 March 31, 2018 Amounts guaranteed (not to exceed) $ 176,762 $ 165,333 $ 150,900 Amounts outstanding under guarantee 79,336 96,154 126,835 Fair value of guarantees 2,890 2,913 5,864 Of the guarantees outstanding at December 31, 2018, most expire within one year. As of December 31, 2018 and 2017, and March 31, 2018, respectively, the Company had balances of zero, zero, and $14,807 due to local banks on behalf of suppliers included in accounts payable in the condensed consolidated balance sheets.

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	9 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	GOODWILL AND INTANGIBLES The following summarizes goodwill and other intangible assets: December 31, 2018 Weighted Average Remaining Useful Life Beginning Gross Carrying Amount Additions Accumulated Amortization Impact of Foreign Currency Translation Ending Intangible Assets, Net Intangibles subject to amortization: Customer relationships 9.77 years $ 58,530 $ 5,450 $ (28,021) $ — $ 35,959 Production and supply contracts 3.10 years 14,893 — (9,997) — 4,896 Internally developed software 3.66 years 18,812 759 (18,229) — 1,342 Licenses 19.11 years 30,339 17 (1,277) (1,655) 27,424 Trade names 7.25 years — 500 (47) — 453 Intangibles not subject to amortization: Goodwill 27,546 7,174 — (611) 34,109 Total $ 150,120 $ 13,900 $ (57,571) $ (2,266) $ 104,183 March 31, 2018 Weighted Average Remaining Useful Life Beginning Gross Carrying Amount Additions Accumulated Amortization Ending Intangible Assets, Net Intangibles subject to amortization: Customer relationships 10.85 years $ 58,530 $ — $ (25,005) $ 33,525 Production and supply contracts 3.82 years 14,893 — (8,774) 6,119 Internally developed software 2.82 years 18,581 231 (17,828) 984 Licenses 19.84 years — 30,339 (243) 30,096 Intangibles not subject to amortization: Goodwill 16,463 11,083 — 27,546 Total $ 108,467 $ 41,653 $ (51,850) $ 98,270 The following summarizes the estimated future intangible asset amortization expense: For Fiscal Customer Production Internally Licenses Trade Names Total January 1, 2019 through March 31, 2019 $ 1,005 $ 516 $ 139 $ 360 $ 16 $ 2,036 2020 4,022 1,741 445 1,439 63 7,710 2021 4,022 1,397 284 1,439 63 7,205 2022 4,022 1,242 211 1,437 63 6,975 2023 4,022 — 179 1,434 63 5,698 Later 18,866 — 84 21,315 185 40,450 $ 35,959 $ 4,896 $ 1,342 $ 27,424 $ 453 $ 70,074 *Estimated amortization expense for the internally developed software is based on costs accumulated as of December 31, 2018. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Dec. 31, 2018
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company holds variable interests in multiple entities that primarily procure or process inventory on behalf of the Company and other parties or are securitization entities. These variable interests relate to equity investments, advances, guarantees made by the Company, and securitized receivables. The Company is not the primary beneficiary of the majority of its variable interests in variable interest entities, as it does not have the power to direct the activities that most significantly impact the economic performance of the entities due to the entities’ management and board of directors’ structure. As a result, the majority of these variable interest entities are not consolidated. The Company holds a majority voting interest and is the primary beneficiary of its variable interest in Humble Juice Co., LLC, a consolidated entity for which the related intercompany accounts and transactions have been eliminated. As of December 31, 2018 and 2017, and March 31, 2018, the Company’s investment in variable interest entities was $62,156, $66,287, and $64,208, respectively, and is classified as investments in unconsolidated affiliates in the condensed consolidated balance sheets. The Company’s advances to these variable interest entities as of December 31, 2018 and 2017, and March 31, 2018 were $2,817, $9,832, and $5,895, respectively, and classified as accounts receivable, related parties in the condensed consolidated balance sheets. The Company guaranteed an amount to two variable interest entities not to exceed $73,278, $73,223, and $65,487 as of December 31, 2018 and 2017, and March 31, 2018, respectively. The investments, advances, guarantees, and the deferred purchase price on the sale of securitized receivables disclosed in "Note 16. Sale of Receivables" in these variable interest entities represent the Company’s maximum exposure to loss.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company's operations are managed and reported in ten operating segments that are organized by product category and geographic area and aggregated into three reportable segments for financial reporting purposes: Leaf - North America, Leaf - Other Regions, and Other Products and Services. In reviewing operations, the Company concluded that the economic characteristics of Leaf - North America operations were dissimilar from the other Leaf geographic operating segments in Africa, Asia, Europe, and South America, which have been consolidated into one reportable segment "Leaf - Other Regions". The five other operating segments are aggregated into the "Other Products and Services" reportable segment as they do not meet the quantitative thresholds to be individually reportable. These segment groupings are consistent with information used by the chief operating decision maker to assess performance and allocate resources. The types of products and services from which each reportable segment derives its revenues are as follows: • Leaf - North America ships tobacco to manufacturer s of cigarettes and other consumer tobacco products around the world. In addition, Leaf - North America is more highly concentrated on processing and other activities compared to the rest of the world. • Leaf - Other Regions ships tobacco to manufacturers of cigarettes and other consumer tobacco products around the world. In addition, the Leaf - Other Regions sell a small amount of processed but un-threshed flue-cured and burley tobacco in loose-leaf and bundle form to certain customers. • Other Pro ducts and Services primarily consists of cannabis and e-liquid products. Cannabis was legalized for adult use in Canada on October 17, 2018. The Company's cannabis products have been sold primarily to municipally-owned retailers in the Canadian market. E-liquids products are sold to consumers via e-commerce platforms and other distribution channels, and retail stores. The Company evaluates the operating performance of its segments based upon information included in management reports. Corporate general expenses are allocated to the segments based upon segment selling, general, and administrative expenses. Other than those described previously, the accounting policies of each segment are the same and are described in "Note 1. Basis of Presentation and Significant Accounting Policies" . 7. SEGMENT INFORMATION (continued) The following summarizes segment information and includes information for periods other than the three and nine months ended December 31, 2018 and 2017 in light of the segment re-alignment: Three Months Ended December 31, 2018 2017 2016 Sales and other operating revenues: Leaf - North America $ 77,850 $ 120,689 $ 108,869 Leaf - Other Regions 441,719 357,094 345,666 Other Products and Services 4,918 — — Total sales and other operating revenues $ 524,487 $ 477,783 $ 454,535 Operating income (loss): Leaf - North America $ 2,870 $ 7,340 $ 5,685 Leaf - Other Regions 44,133 32,897 34,390 Other Products and Services (7,648) — — Total operating income $ 39,355 $ 40,237 $ 40,075 Nine Months Ended December 31, 2018 2017 2016 Sales and other operating revenues: Leaf - North America $ 181,764 $ 245,307 $ 217,629 Leaf - Other Regions 1,018,255 956,808 887,431 Other Products and Services 10,332 — — Total sales and other operating revenues $ 1,210,351 $ 1,202,115 $ 1,105,060 Operating income (loss): Leaf - North America $ 7,888 $ 13,463 $ 8,366 Leaf - Other Regions 70,010 65,665 45,480 Other Products and Services (21,265) — — Total operating income $ 56,633 $ 79,128 $ 53,846 Years Ended March 31, 2018 2017 Sales and other operating revenues: Leaf - North America $ 451,383 $ 396,217 Leaf - Other Regions 1,394,048 1,318,533 Other Products and Services 535 — Total sales and other operating revenues $ 1,845,966 $ 1,714,750 Operating income (loss): Leaf - North America $ 26,446 $ 15,333 Leaf - Other Regions 88,742 72,009 Other Products and Services (3,284) — Total operating income $ 111,904 $ 87,342 7. SEGMENT INFORMATION (continued) December 31, 2018 December 31, 2017 Leaf - North America Leaf - Other Regions Other Products and Services Total Leaf - North America Leaf - Other Regions Other Products and Services Total Total assets $ 318,295 $ 1,598,879 $ 106,545 $ 2,023,719 $ 495,950 $ 1,558,238 $ — $ 2,054,188 Trade and other receivables, net 22,724 266,104 1,224 290,052 34,042 206,775 — 240,817 Goodwill 2,795 13,669 17,645 34,109 2,794 13,669 — 16,463 Equity in net assets of investee companies — 55,283 12,285 67,568 — 56,808 9,479 66,287 Depreciation and amortization 5,365 19,398 2,124 26,887 5,572 19,273 — 24,845 Capital expenditures* 3,011 13,263 18,900 35,174 4,461 12,801 — 17,262 *Capital expenditures in this table are presented as activity for the nine months ended December 31, 2018 and 2017. March 31, 2018 March 31, 2017 Leaf - North America Leaf - Other Regions Other Products and Services Total Leaf - North America Leaf - Other Regions Other Products and Services Total Total assets $ 366,495 $ 1,528,859 $ 71,277 $ 1,966,631 $ 375,782 $ 1,596,090 $ — $ 1,971,872 Trade and other receivables, net 46,096 257,968 335 304,399 40,212 213,973 — 254,185 Goodwill 2,795 13,669 11,082 27,546 2,794 13,669 — 16,463 Equity in net assets of investee companies — 57,434 9,935 67,369 — 51,832 (389) 51,443 Depreciation and amortization 7,435 25,754 409 33,598 7,543 26,933 — 34,476 Capital expenditures 4,649 17,017 1,632 23,298 3,638 9,099 — 12,737

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The weighted average number of common shares outstanding is reported as the weighted average of the total shares of common stock outstanding, net of shares of common stock held by a wholly owned subsidiary. Shares of common stock owned by the subsidiary were 785 as of December 31, 2018 and 2017. This subsidiary waives its right to receive dividends and it does not have the right to vote these shares. Certain potentially dilutive options were not included in the computation of earnings per diluted share because their exercise prices were greater than the average market price of the shares of common stock during the period and their effect would be antidilutive. These shares totaled 427 at a weighted average exercise price of $60.00 per share as of December 31, 2018 and 2017. Diluted net loss per share as of December 31, 2018 was the same as basic net loss per share as the effects of potentially dilutive items were antidilutive given the Company’s net loss. 8. EARNINGS PER SHARE (continued) The following summarizes the computation of earnings per share: Three Months Ended December 31, Nine Months Ended December 31, (in thousands, except per share data) 2018 2017 2018 2017 Basic (loss) income per share: Net (loss) income attributable to Pyxus International, Inc. $ (5,095) $ 88,456 $ (60,487) $ 56,936 Shares: Weighted average number of shares outstanding 9,068 9,001 9,048 8,982 Basic (loss) income per share $ (0.56) $ 9.83 $ (6.69) $ 6.34 Diluted (loss) income per share: Net (loss) income attributable to Pyxus International, Inc. $ (5,095) $ 88,456 $ (60,487) $ 56,936 Shares: Weighted average number of shares outstanding 9,068 9,001 9,048 8,982 Plus: Restricted shares issued and shares applicable to stock options and restricted stock units, net of shares assumed to be purchased from proceeds at average market price — * 28 — * 27 Adjusted weighted average number of shares outstanding 9,068 9,029 9,048 9,009 Diluted (loss) income per share $ (0.56) $ 9.80 $ (6.69) $ 6.32 *All outstanding restricted shares and shares applicable to stock options and restricted stock units are excluded because their inclusion would have an antidilutive effect on the loss per share.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The following summarizes the Company's stock-based compensation expense related to awards granted under its various employee and non-employee stock incentive plans: Three Months Ended December 31, Nine Months Ended December 31, (in thousands) 2018 2017 2018 2017 Stock-based compensation expense $ 402 $ 271 $ 1,155 $ 869 Stock-based compensation expense payable in cash — — — 54 The following summarizes the Company's stock-based compensation awards: Three Months Ended December 31, Nine Months Ended December 31, (in thousands, except grant date fair value) 2018 2017 2018 2017 Restricted stock Number granted 13 7 26 22 Grant date fair value $ 11.86 $ 13.25 $ 17.04 $ 12.85 Restricted stock units Number granted 5 — 66 57 Grant date fair value $ 14.32 $ — $ 15.94 $ 11.75 Performance-based stock units Number granted — — 30 29 Grant date fair value $ — $ — $ 16.00 $ 11.75

CONTINGENCIES AND OTHER INFORMA

CONTINGENCIES AND OTHER INFORMATION	9 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND OTHER INFORMATION	CONTINGENCIES AND OTHER INFORMATION The government in the Brazilian State of Parana issued a tax assessment on October 26, 2007 with respect to local intrastate trade tax credits that result primarily from tobacco transferred between states within Brazil. The assessment for intrastate trade tax credits taken is $3,399 and the total assessment including penalties and interest at December 31, 2018 is $11,743. The Company believes it has properly complied with Brazilian law and will contest any assessment through the judicial process. Should the Company lose in the judicial process, the loss of the intrastate trade tax credits would have a material impact on the financial statements of the Company. The Company also has local intrastate trade tax credits in the Brazilian State of Santa Catarina and the State of Rio Grande do Sul. These jurisdictions permit the sale or transfer of excess credits to third parties. However, approval must be obtained from the tax authorities. The Company has an agreement with the state governments regarding the amounts and timing of credits that can be sold. The tax credits have a carrying value of $7,138 as of December 31, 2018, which is net of impairment charges based on management’s expectations about future realization. The intrastate trade tax credits will continue to be monitored for impairment in future periods based on market conditions and the Company’s ability to use or sell the tax credits. In 1969, the Brazilian government created a tax credit program that allowed companies to earn IPI tax credits (“IPI credits”) based on the value of their exports. The government began to phase out this program in 1979, which resulted in numerous lawsuits between taxpayers and the Brazilian government. The Company has a long legal history with respect to credits it earned while the IPI credit program was in effect. In 2001, the Company won a claim related to certain IPI credits it earned between 1983 and 1990. The Brazilian government appealed this decision and numerous rulings and appeals were rendered on behalf of both the government and the Company from 2001 through 2013. Because of this favorable ruling, the Company began to use these earned IPI credits to offset federal taxes in 2004 and 2005, until it received a Judicial Order to suspend the IPI offsetting in 2005. The value of the federal taxes offset in 2004 and 2005 was $24,142 and the Company established a reserve on these credits at the time of offsetting as they were not yet realizable due to the legal uncertainty that existed. Specifically, the Company extinguished other federal tax liabilities using IPI credits and recorded a liability in pension, postretirement and other long-term liabilities to reflect that the credits were not realizable at that time due to the prevalent legal uncertainty. On March 7, 2013, the Brazilian Supreme Court rendered a final decision in favor of the Company that recognized the validity of the IPI credits and secured the Company's right to benefit from the IPI credits earned from March 1983 to October 1990. This final decision expressly stated the Company has the right to the IPI credits. The Company estimated the total amount of the IPI credits to be approximately $94,316 at March 31, 2013. Since the March 2013 ruling definitively (without the government's ability to appeal) granted the Company the ownership of the IPI credits generated between 1983 and 1990, the Company believed the amount of IPI credits that were used to offset other federal taxes in 2004 and 2005 were realizable beyond a reasonable doubt. Accordingly, and at March 31, 2013, the Company recorded the $24,142 IPI credits it realized in the statements of consolidated operations in other income, net. No further benefit has been recognized pending the outcome of the judicial procedure to ascertain the final amount as those amounts have not yet been realized. Certain of the Company’s subsidiaries are involved in other litigation or legal matters incidental to their business activities, including tax matters. While the outcome of these matters cannot be predicted with certainty, the Company is vigorously defending them and does not currently expect that any of them will have a material adverse effect on its business or financial position. Should one or more of these matters be resolved in a manner adverse to its current expectation, the effect on the Company’s results of operations for a particular fiscal reporting period could be material. In accordance with GAAP, the Company records known asset retirement obligations (“ARO”) for which the liability can be reasonably estimated. Currently, it has identified an ARO associated with one of its facilities that requires it to restore the land to its initial condition upon vacating the facility. The Company has not recognized a liability under GAAP for this ARO because the fair value of restoring the land at this site cannot be reasonably estimated since the settlement date is unknown at this time. The settlement date is unknown because the land restoration is not required until title is returned to the government, and the Company has no current or future plans to return the title. The Company will recognize a liability in the period in which sufficient information is available to reasonably estimate its fair value.

DEBT ARRANGEMENTS

DEBT ARRANGEMENTS	9 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT ARRANGEMENTS	DEBT ARRANGEMENTS ABL Facility The ABL credit agreement restricts the Company from paying any dividends during the term of this facility subject to the satisfaction of specified financial ratios. In addition, the indentures governing the Company's outstanding 8.5% senior secured first lien notes due 2021 and its outstanding 9.875% senior secured second lien notes due 2021 contain similar restrictions and 11. DEBT ARRANGEMENTS (continued) also prohibit the payment of dividends and other distributions if the Company fails to satisfy a ratio of consolidated EBITDA to fixed charges of at least 2.0 to 1.0. As of December 31, 2018, the Company did not satisfy this fixed charge coverage ratio. The Company may not satisfy this ratio from time to time and failure to meet this fixed charge coverage ratio does not constitute an event of default. Senior Secured Second Lien Notes

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTSAs of December 31, 2018 and 2017, accumulated other comprehensive loss includes $2,307 and $999, net of tax of $613 and zero, for unrealized losses related to designated cash flow hedges, respectively. The Company recorded losses of $458 and $1,445 in its cost of goods and services sold for the three months and nine months ended December 31, 2018, respectively. For the nine months ended December 31, 2018, $987 was from the discontinuance of a portion of the Company’s cash flow hedges. The Company recorded losses of $656 and $598 in its cost of goods and services sold for the three months and nine months ended December 31, 2017, respectively. The Company recorded a current derivative asset of $1,029, zero, and zero as of December 31, 2018 and 2017, and March 31, 2018, respectively, included on the condensed consolidated balance sheets.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	PENSION AND OTHER POSTRETIREMENT BENEFITS The following summarizes the components of net periodic benefit cost: Pension Benefits Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Operating expenses: Service cost $ 120 $ 116 $ 359 $ 349 Interest expense: Interest expense 1,155 1,063 3,464 3,189 Expected return on plan assets (1,286) (1,264) (3,858) (3,793) Amortization of prior service cost 11 10 32 31 Settlement loss 91 — 609 — Actuarial loss 422 511 1,267 1,533 Net periodic pension cost $ 513 $ 436 $ 1,873 $ 1,309 Other Postretirement Benefits Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Operating expenses: Service cost $ 4 $ 3 $ 11 $ 10 Interest expense: Interest expense 83 85 248 254 Amortization of prior service cost (177) (178) (532) (533) Actuarial loss 109 115 328 345 Net periodic pension cost $ 19 $ 25 $ 55 $ 76 13. PENSION AND OTHER POSTRETIREMENT BENEFITS (continued) For the nine months ended December 31, 2018, contributions were made to pension plans and postretirement health and life insurance benefits of approximately $4,629 and $261, respectively. Additional contributions to pension plans and postretirement health and life insurance benefits of approximately $2,101 and $256, respectively, are expected during the remainder of fiscal 2019. During the three months and nine months ended December 31, 2018, the Company's cash payments activity triggered settlement accounting, which resulted in $91 and $609 of settlement loss recorded in interest expense, respectively.

INVENTORIES

INVENTORIES	9 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The following summarizes the Company’s costs in inventory: December 31, 2018 December 31, 2017 March 31, 2018 Processed $ 697,614 $ 786,227 $ 468,208 Unprocessed 109,351 98,800 204,149 Other 20,817 20,653 25,730 Total inventory $ 827,782 $ 905,680 $ 698,087

OTHER COMPREHENSIVE (LOSS) INCO

OTHER COMPREHENSIVE (LOSS) INCOME	9 Months Ended
	Dec. 31, 2018
Equity [Abstract]
OTHER COMPREHENSIVE (LOSS) INCOME	OTHER COMPREHENSIVE (LOSS) INCOME The movements in accumulated other comprehensive loss and the related tax effects that are due to current period activity and reclassifications to the income statement are shown on the condensed consolidated statements of comprehensive income. The following summarizes the components reclassified from accumulated other comprehensive loss to earnings: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Pension and other postretirement benefits*: Actuarial loss $ 534 $ 626 $ 1,601 $ 1,878 Amortization of prior service cost (167) (167) (502) (502) Amounts reclassified from accumulated other comprehensive loss to net income, gross 367 459 1,099 1,376 Tax effects of amounts reclassified from (82) — (246) — Amounts reclassified from accumulated other comprehensive loss to net income, net $ 285 $ 459 $ 853 $ 1,376 *Amounts are included in net periodic benefit costs for pension and other postretirement benefits. See "Note 13. Pension and Other Postretirement Benefits" for more information.

SALE OF RECEIVABLES

SALE OF RECEIVABLES	9 Months Ended
	Dec. 31, 2018
Transfers and Servicing [Abstract]
SALE OF RECEIVABLES	SALE OF RECEIVABLES The Company sells trade receivables to unaffiliated financial institutions under two accounts receivable securitization facilities. Under the first facility, the Company continuously sells a designated pool of trade receivables to a special purpose entity, which sells 100% of the receivables to an unaffiliated financial institution. During the nine months ended December 31, 2018, the investment limit of this program was decreased from $155,000 trade receivables to $125,000 trade receivables. Under the second facility, the Company offers receivables for sale to an unaffiliated financial institution, which are then subject to acceptance by the unaffiliated financial institution. As of December 31, 2018, the investment limit under the second facility was $125,000 trade receivables. The Company is the servicer of both facilities and may receive funds that are due to the unaffiliated financial institutions, which are net settled on the next settlement date. As a result of the net settlement, trade and other receivables, net in the condensed consolidated balance sheets has been increased by $78 as of December 31, 2018 and reduced by $7,953 and $10,858 as of December 31, 2017 and March 31, 2018, respectively. 16. SALE OF RECEIVABLES (continued) The following summarizes the accounts receivable securitization information: December 31, March 31, 2018 2017 2018 Receivables outstanding in facility $ 92,445 $ 125,581 $ 228,621 Beneficial interest 24,659 26,272 48,715 Servicing liability 26 55 81 Cash proceeds: Cash purchase price $ 416,526 $ 402,402 $ 694,517 Deferred purchase price 171,565 183,610 263,670 Service fees 435 359 473 Total $ 588,526 $ 586,371 $ 958,660

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The following summarizes the items measured at fair value on a recurring basis: December 31, 2018 December 31, 2017 March 31, 2018 Total Assets / Total Assets / Total Assets / Liabilities Liabilities Liabilities Level 2 Level 3 at Fair Value Level 2 Level 3 at Fair Value Level 2 Level 3 at Fair Value Assets Derivative financial instruments $ 1,029 $ — $ 1,029 $ — $ — $ — $ — $ — $ — Securitized beneficial interests — 24,659 24,659 — 26,272 26,272 — 48,715 48,715 Total assets $ 1,029 $ 24,659 $ 25,688 $ — $ 26,272 $ 26,272 $ — $ 48,715 $ 48,715 Liabilities Long-term debt $ 742,047 $ 708 $ 742,755 $ 877,647 $ — $ 877,647 $ 911,264 $ 895 $ 912,159 Guarantees — 2,890 2,890 — 2,913 2,913 — 5,864 5,864 Total liabilities $ 742,047 $ 3,598 $ 745,645 $ 877,647 $ 2,913 $ 880,560 $ 911,264 $ 6,759 $ 918,023 Level 2 measurements • Debt: The fair value of debt is based on the market price for similar financial instruments or model-derived valuations whose inputs are observable. The primary inputs to the valuation include market expectations, the Company's credit risk, and the contractual terms of the debt instrument. • Derivatives: The fair value of derivatives is based on the discounted cash flow analysis of the expected future cash flows. The primary inputs to the valuation include forward yield curves, implied volatilities, LIBOR rates, and credit valuation adjustments. Level 3 measurements • Guarantees: The fair value of guarantees is based on the discounted cash flow analysis of the expected future cash flows or historical loss rates. The primary inputs to the discounted cash flow analysis include market interest rates of 15.0% to 70.0% and the Company’s historical loss rates of 2.4% to 10.0% as of December 31, 2018. The historical loss rate was weighted by the principal balance of the loans. • Securitized beneficial interests: The fair value of securitized beneficial interests is based on the present value of future expected cash flows. The primary inputs to this valuation include payment speeds of 64 to 73 days and discount rates of 5.0% to 7.3% as of December 31, 2018. The discount rate was weighted by the outstanding interest. Payment speed was weighted by the average days outstanding. 17. FAIR VALUE MEASUREMENTS (continued) The following summarizes the reconciliation of changes in Level 3 instruments measured on a recurring basis: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Securitized Beneficial Interests Guarantees Securitized Beneficial Interests Guarantees Beginning balance $ 17,512 $ 1,861 $ 48,715 $ 5,864 Issuances of sales of receivables/guarantees 71,047 1,585 161,943 2,988 Settlements (62,432) (569) (183,450) (6,109) (Losses) gains recognized in earnings (1,468) 13 (2,549) 147 Ending balance $ 24,659 $ 2,890 $ 24,659 $ 2,890 Three Months Ended December 31, 2017 Nine Months Ended December 31, 2017 Securitized Beneficial Interest Guarantees Securitized Beneficial Interest Guarantees Beginning balance $ 23,668 $ 2,770 $ 38,206 $ 7,126 Issuances of sales of receivables/guarantees 66,496 1,128 177,259 3,193 Settlements (62,407) (993) (186,582) (6,946) Losses recognized in earnings (1,485) 8 (2,611) (460) Ending balance $ 26,272 $ 2,913 $ 26,272 $ 2,913

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The following summarizes sales and purchases with related parties: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Sales $ 475 $ 447 $ 14,238 $ 23,503 Purchases 46,281 35,563 98,784 73,500

INVESTEE COMPANIES

INVESTEE COMPANIES	9 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
INVESTEE COMPANIES	INVESTEE COMPANIES The following summarizes the Company's equity method investments as of December 31, 2018: Investee Name Location Primary Purpose The Company's Ownership Percentage Basis Difference Adams International Ltd. Thailand purchase and process tobacco 49 % — Alliance One Industries India Private Ltd. India purchase and process tobacco 49 % — China Brasil Tobacos Exportadora SA Brazil purchase and process tobacco 49 % 7,475 Criticality LLC U.S. extraction of cannabidiol from industrial hemp 40 % 381 Nicotine River, LLC U.S. produce consumable e-liquids 40 % 2,150 Oryantal Tutun Paketleme Turkey process tobacco 50 % — Purilum, LLC U.S. produce flavor formulations and consumable e-liquids 50 % — Siam Tobacco Export Company Thailand purchase and process tobacco 49 % —

RESTRUCTURING AND ASSET IMPAIRM

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES	9 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND ASSET IMPAIRMENT CHARGES	RESTRUCTURING AND ASSET IMPAIRMENT CHARGES The Company continues to focus on efficiency and cost improvements. During the nine months ended December 31, 2018, the Company continued to respond to changes in the business, with two cost-saving and restructuring initiatives. The first initiative involves the closing of one of its foreign processing facilities in order to process tobacco in the affected area under a third-party processing arrangement going forward. The second initiative involves the consolidation of the Company's U.S. green tobacco processing operations into its Wilson, North Carolina facility and the repurposing of its Farmville, North Carolina facility for storage and special projects. The following summarizes restructuring and impairment charges: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Employee separation charges $ 1,122 $ — $ 2,499 $ — Asset impairment and other non-cash charges 545 — 891 — Restructuring and asset impairment charges $ 1,667 $ — $ 3,390 $ — The following summarizes the liability for employee separation charges recorded in the Leaf - North America and Leaf - Other Regions segments: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Leaf - North America Leaf - Other Regions Leaf - North America Leaf - Other Regions Leaf - North America Leaf - Other Regions Leaf - North America Leaf - Other Regions Beginning balance $ 107 $ 889 $ — $ — $ — $ 107 $ — $ — Accruals 892 230 — — 1,139 1,360 — — Payments (73) (328) — — (213) (676) — — Ending balance $ 926 $ 791 $ — $ — $ 926 $ 791 $ — $ — There was no liability for employee separation charges recorded in the Other Products and Services segment. 20. RESTRUCTURING AND ASSET IMPAIRMENT CHARGES (continued)

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company changed its name from Alliance One International, Inc. to Pyxus International, Inc. on September 12, 2018. Due to the seasonal nature of the Company’s business, the results of operations for any fiscal quarter are not necessarily indicative of the operating results that may be attained for other quarters or a full fiscal year. In the opinion of management, all normal and recurring adjustments necessary for fair statement of financial position, results of operations, and cash flows at the dates and for the periods presented have been included. All intercompany accounts and transactions have been eliminated. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2018.
Segments	Segments During the three months ended December 31, 2018, the Company realigned its reportable segments to reflect changes to how the business is managed and results are reviewed by the Company's chief operating decision maker. In connection with the "One Tomorrow Transformation" initiative, the Company changed its organizational structure to support its diversified business lines. Prior to the realignment, the Company assessed financial information based on geographic regions. The Company's diversification efforts have resulted in management placing emphasis on data by business line in addition to the historical focus by geography. As a result of this realignment, the reportable segments now include Leaf - North America, Leaf - Other Regions, and Other Products and Services. Prior period segment financial information has been revised to conform to the current year presentation.
Taxes Collected from Customers	Taxes Collected from Customers Certain subsidiaries are subject to value-added taxes on local sales. The amounts included in sales and other operating revenues and cost of goods and services sold were $4,858 and $2,703 for the three months ended December 31, 2018 and 2017, respectively, and $14,692 and $13,801 for the nine months ended December 31, 2018 and 2017, respectively.
Restricted Cash	Restricted Cash As of December 31, 2018 and 2017, and March 31, 2018, $1,220, $2,006 and $1,261 of cash was held on deposit as a compensating balance for short-term borrowings, respectively. As of December 31, 2018 and 2017, and March 31, 2018, zero, zero, and $1,487 of cash was restricted for capital investment, respectively. As of December 31, 2018 and 2017, and March 31, 2018, $2,314, zero, and zero of cash was held in escrow from receipt of customer payments.
Property, Plant, and Equipment	Property, Plant, and Equipment Total property and equipment purchases for the nine months ended December 31, 2018 and 2017 included $1,501 and $279 that were unpaid and included in accounts payable, respectively. Property and equipment sales for the nine months ended December 31, 2018 and 2017 included $1,473 and zero that were uncollected and included in receivables, respectively.
Capitalized Interest	Capitalized Interest Interest is capitalized on significant construction in progress using the weighted average interest rate during the capitalization period. Interest of $1,578 and zero was capitalized for the three months and nine months ended December 31, 2018 and 2017, respectively. Capitalized interest of $1,197 is included in property, plant, and equipment, net in the condensed consolidated balance sheets. Capitalized interest of $381 is included in investments in unconsolidated affiliates in the condensed consolidated balance sheets.
New Accounting Standards	Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2014-09, Revenue Recognition (Topic 606): Revenue from Contracts with Customers. ASU 2014-09 outlines a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. The Company adopted this guidance on April 1, 2018 for all contracts using the modified retrospective approach. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The adoption of this guidance resulted in additional disclosures. See "Note 2. Revenue Recognition" for more information. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 clarifies the classification of certain cash receipts and cash payments to reduce the diversity in practice on how these activities are presented on the statement of cash flows. The Company adopted this guidance on April 1, 2018 using the retrospective approach. The adoption of this guidance resulted in the following changes as of December 31, 2017 to the condensed consolidated statement cash flows: cash collections from beneficial interests of $183,610 was reclassified from operating activities to investing activities and $177,259 obtained as a beneficial interest for transferring trade receivables in a securitization transaction has been added as a non-cash disclosure. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . ASU 2016-18 clarifies the presentation of restricted cash on the statement of cash flows to reduce diversity in practice on how restricted cash is presented on the statement of cash flows. The Company adopted this guidance on April 1, 2018 using the retrospective approach. The adoption of this guidance resulted in the following changes: a reclassification of $2,749 and $3,373 from other current and other long-term assets in total to separately stated line items for restricted cash in the condensed consolidated balance sheets as of December 31, 2017 and March 31, 2018, respectively; the change in restricted cash of $440 presented in investing activities in the consolidated statements of cash flows is eliminated as of December 31, 2017; and the inclusion of $2,749 of restricted cash in the calculation of cash, cash equivalents, and restricted cash at the end of the period in the condensed consolidated statements of cash flows as of December 31, 2017. In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. ASU 2017-07 was issued to increase the consistency, transparency, and usefulness of financial information of retirement benefits by disaggregating the service cost component from the other components of net benefit cost. The Company adopted this guidance on April 1, 2018 using the retrospective approach. The adoption of this guidance resulted in a reclassification of $342 and $1,026 from selling, general, and administrative expenses to interest expense in the condensed consolidated statement of operations for the three months and nine months ended December 31, 2017, respectively. See "Note 13. Pension and Other Postretirement Benefits" for more information. In August 2017, the FASB issued ASU No. 2017-12, Derivative and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 was issued to better align risk and management activities to financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The Company early adopted this guidance on April 1, 2018 using the modified retrospective approach. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements and related disclosures. 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued) In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU 2018-02 allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Job Acts (the "Tax Act"). The tax effects unrelated to the Tax Act are released from accumulated other comprehensive income using either the specific identification approach or the portfolio approach based on the nature of the underlying item. The Company adopted this guidance on December 31, 2018 using modified retrospective approach. The adoption of this guidance resulted in a reclassification of $2,931 of stranded tax effects from accumulated other comprehensive loss to retained deficit due to reduction in federal corporate tax rate. The stranded tax effects are derived from the deferred tax balance on pension obligations as a result of the lower U.S. Federal Corporate tax rate. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . ASU 2018-13 eliminates, adds, and modifies certain disclosure requirements for fair value measurements. The Company adopted this guidance prospectively on September 30, 2018. The adoption of this guidance resulted in the addition of the weighted average of the significant observable inputs used to develop Level 3 fair value measurements in its disclosures. See "Note 17. Fair Value Measurements" for more information. Recent Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). Subsequently, the FASB has issued ASUs which further clarify this guidance. ASU 2016-02 requires lessees to recognize right-of-use assets and liabilities arising from leases on the balance sheet. In addition, leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance also requires disclosures about the amount, timing, and uncertainty of cash flows arising from leases. This guidance will be adopted using a modified retrospective approach and is effective for the Company on April 1, 2019. The Company has formed a project team to evaluate and implement this guidance. The Company has completed a scoping assessment of leasing arrangements and service agreements. The Company has elected to adopt an accounting policy for all asset classes to include both the lease and non-lease components as a single component and account for it as a lease. The Company has elected to utilize the transition practical expedients, as prescribed in ASC 842-10-65-1(f). The adoption of this guidance is expected to materially increase assets and liabilities on the consolidated balance sheets. The impact on our results of operations and cash flows is not expected to be material. The Company does not expect the adoption of this guidance to have a material impact on its existing debt covenants. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 provides financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. This guidance will be adopted using a modified retrospective approach and is effective for the Company on April 1, 2020. The Company is evaluating the effect that adoption of this guidance will have on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans . ASU 2018-14 removes disclosures, clarifies specific disclosure requirements, and adds disclosure requirements. This guidance will be adopted using a retrospective approach and is effective for the Company on March 31, 2020. The Company is evaluating the effect that adoption of this guidance will have on its consolidated financial statements and related disclosures. In October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to the Related Party Guidance for Variable Interest Entities. ASU 2018-17 changes how entities evaluate decision-making fees under the variable interest entity guidance. To determine whether decision-making fees represent a variable interest, an entity considers indirect interests held through related parties under common control on a proportional basis, rather than in their entirety. This guidance will be adopted using a retrospective approach and is effective for the Company on April 1, 2020. The Company is evaluating the effect that adoption of this guidance will have on its consolidated financial statements and related disclosures.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Disaggregated by Major Source	The following disaggregates sales and other operating revenues by major source: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Leaf - North America: Product revenue $ 60,280 $ 152,725 Processing and other revenues 17,570 29,039 Total sales and other operating revenues 77,850 181,764 Leaf - Other Regions: Product revenue 432,423 977,503 Processing and other revenues 9,296 40,752 Total sales and other operating revenues 441,719 1,018,255 Other Products and Services: Total sales and other operating revenues 1 4,918 10,332 Total sales and other operating revenues $ 524,487 $ 1,210,351 (1) Other products and services is primarily composed of revenue from the sale of legal cannabis in Canada and e-liquids product revenue.
Schedule of Activity in the Claims Allowance	The following summarizes activity in the claims allowance: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Balance, beginning of period $ 1,360 $ 1,100 Additions 526 2,258 Payments (476) (1,948) Balance, end of period $ 1,410 $ 1,410
Schedule of Allowance for Doubtful Accounts and Activity of Claims Allowances	The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the trade receivables, net balance. The Company determines the allowance based on historical experience, and other currently available information. The following summarizes activity in the allowance for doubtful accounts: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Balance, beginning of period $ (7,324) $ (7,055) Additions (1,774) (2,136) Writes-offs (15) 78 Balance, end of period (9,113) (9,113) Trade receivables 277,860 277,860 Trade receivables, net $ 268,747 $ 268,747

GUARANTEES (Tables)

GUARANTEES (Tables)	9 Months Ended
	Dec. 31, 2018
Guarantees [Abstract]
Schedule of Guarantees and Associated Fair Values	The following summarizes amounts guaranteed and the fair value of those guarantees: December 31, 2018 December 31, 2017 March 31, 2018 Amounts guaranteed (not to exceed) $ 176,762 $ 165,333 $ 150,900 Amounts outstanding under guarantee 79,336 96,154 126,835 Fair value of guarantees 2,890 2,913 5,864

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	9 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Asset Rollforward	The following summarizes goodwill and other intangible assets: December 31, 2018 Weighted Average Remaining Useful Life Beginning Gross Carrying Amount Additions Accumulated Amortization Impact of Foreign Currency Translation Ending Intangible Assets, Net Intangibles subject to amortization: Customer relationships 9.77 years $ 58,530 $ 5,450 $ (28,021) $ — $ 35,959 Production and supply contracts 3.10 years 14,893 — (9,997) — 4,896 Internally developed software 3.66 years 18,812 759 (18,229) — 1,342 Licenses 19.11 years 30,339 17 (1,277) (1,655) 27,424 Trade names 7.25 years — 500 (47) — 453 Intangibles not subject to amortization: Goodwill 27,546 7,174 — (611) 34,109 Total $ 150,120 $ 13,900 $ (57,571) $ (2,266) $ 104,183 March 31, 2018 Weighted Average Remaining Useful Life Beginning Gross Carrying Amount Additions Accumulated Amortization Ending Intangible Assets, Net Intangibles subject to amortization: Customer relationships 10.85 years $ 58,530 $ — $ (25,005) $ 33,525 Production and supply contracts 3.82 years 14,893 — (8,774) 6,119 Internally developed software 2.82 years 18,581 231 (17,828) 984 Licenses 19.84 years — 30,339 (243) 30,096 Intangibles not subject to amortization: Goodwill 16,463 11,083 — 27,546 Total $ 108,467 $ 41,653 $ (51,850) $ 98,270
Schedule of Estimated Intangible Asset Amortization Expense	The following summarizes the estimated future intangible asset amortization expense: For Fiscal Customer Production Internally Licenses Trade Names Total January 1, 2019 through March 31, 2019 $ 1,005 $ 516 $ 139 $ 360 $ 16 $ 2,036 2020 4,022 1,741 445 1,439 63 7,710 2021 4,022 1,397 284 1,439 63 7,205 2022 4,022 1,242 211 1,437 63 6,975 2023 4,022 — 179 1,434 63 5,698 Later 18,866 — 84 21,315 185 40,450 $ 35,959 $ 4,896 $ 1,342 $ 27,424 $ 453 $ 70,074 *Estimated amortization expense for the internally developed software is based on costs accumulated as of December 31, 2018. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Information	The following summarizes segment information and includes information for periods other than the three and nine months ended December 31, 2018 and 2017 in light of the segment re-alignment: Three Months Ended December 31, 2018 2017 2016 Sales and other operating revenues: Leaf - North America $ 77,850 $ 120,689 $ 108,869 Leaf - Other Regions 441,719 357,094 345,666 Other Products and Services 4,918 — — Total sales and other operating revenues $ 524,487 $ 477,783 $ 454,535 Operating income (loss): Leaf - North America $ 2,870 $ 7,340 $ 5,685 Leaf - Other Regions 44,133 32,897 34,390 Other Products and Services (7,648) — — Total operating income $ 39,355 $ 40,237 $ 40,075 Nine Months Ended December 31, 2018 2017 2016 Sales and other operating revenues: Leaf - North America $ 181,764 $ 245,307 $ 217,629 Leaf - Other Regions 1,018,255 956,808 887,431 Other Products and Services 10,332 — — Total sales and other operating revenues $ 1,210,351 $ 1,202,115 $ 1,105,060 Operating income (loss): Leaf - North America $ 7,888 $ 13,463 $ 8,366 Leaf - Other Regions 70,010 65,665 45,480 Other Products and Services (21,265) — — Total operating income $ 56,633 $ 79,128 $ 53,846 Years Ended March 31, 2018 2017 Sales and other operating revenues: Leaf - North America $ 451,383 $ 396,217 Leaf - Other Regions 1,394,048 1,318,533 Other Products and Services 535 — Total sales and other operating revenues $ 1,845,966 $ 1,714,750 Operating income (loss): Leaf - North America $ 26,446 $ 15,333 Leaf - Other Regions 88,742 72,009 Other Products and Services (3,284) — Total operating income $ 111,904 $ 87,342 7. SEGMENT INFORMATION (continued) December 31, 2018 December 31, 2017 Leaf - North America Leaf - Other Regions Other Products and Services Total Leaf - North America Leaf - Other Regions Other Products and Services Total Total assets $ 318,295 $ 1,598,879 $ 106,545 $ 2,023,719 $ 495,950 $ 1,558,238 $ — $ 2,054,188 Trade and other receivables, net 22,724 266,104 1,224 290,052 34,042 206,775 — 240,817 Goodwill 2,795 13,669 17,645 34,109 2,794 13,669 — 16,463 Equity in net assets of investee companies — 55,283 12,285 67,568 — 56,808 9,479 66,287 Depreciation and amortization 5,365 19,398 2,124 26,887 5,572 19,273 — 24,845 Capital expenditures* 3,011 13,263 18,900 35,174 4,461 12,801 — 17,262 *Capital expenditures in this table are presented as activity for the nine months ended December 31, 2018 and 2017.
Schedule of Analysis of Segment Assets	March 31, 2018 March 31, 2017 Leaf - North America Leaf - Other Regions Other Products and Services Total Leaf - North America Leaf - Other Regions Other Products and Services Total Total assets $ 366,495 $ 1,528,859 $ 71,277 $ 1,966,631 $ 375,782 $ 1,596,090 $ — $ 1,971,872 Trade and other receivables, net 46,096 257,968 335 304,399 40,212 213,973 — 254,185 Goodwill 2,795 13,669 11,082 27,546 2,794 13,669 — 16,463 Equity in net assets of investee companies — 57,434 9,935 67,369 — 51,832 (389) 51,443 Depreciation and amortization 7,435 25,754 409 33,598 7,543 26,933 — 34,476 Capital expenditures 4,649 17,017 1,632 23,298 3,638 9,099 — 12,737

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The following summarizes the computation of earnings per share: Three Months Ended December 31, Nine Months Ended December 31, (in thousands, except per share data) 2018 2017 2018 2017 Basic (loss) income per share: Net (loss) income attributable to Pyxus International, Inc. $ (5,095) $ 88,456 $ (60,487) $ 56,936 Shares: Weighted average number of shares outstanding 9,068 9,001 9,048 8,982 Basic (loss) income per share $ (0.56) $ 9.83 $ (6.69) $ 6.34 Diluted (loss) income per share: Net (loss) income attributable to Pyxus International, Inc. $ (5,095) $ 88,456 $ (60,487) $ 56,936 Shares: Weighted average number of shares outstanding 9,068 9,001 9,048 8,982 Plus: Restricted shares issued and shares applicable to stock options and restricted stock units, net of shares assumed to be purchased from proceeds at average market price — * 28 — * 27 Adjusted weighted average number of shares outstanding 9,068 9,029 9,048 9,009 Diluted (loss) income per share $ (0.56) $ 9.80 $ (6.69) $ 6.32 *All outstanding restricted shares and shares applicable to stock options and restricted stock units are excluded because their inclusion would have an antidilutive effect on the loss per share.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation Expense	The following summarizes the Company's stock-based compensation expense related to awards granted under its various employee and non-employee stock incentive plans: Three Months Ended December 31, Nine Months Ended December 31, (in thousands) 2018 2017 2018 2017 Stock-based compensation expense $ 402 $ 271 $ 1,155 $ 869 Stock-based compensation expense payable in cash — — — 54
Schedule of Share-based Compensation Awards	The following summarizes the Company's stock-based compensation awards: Three Months Ended December 31, Nine Months Ended December 31, (in thousands, except grant date fair value) 2018 2017 2018 2017 Restricted stock Number granted 13 7 26 22 Grant date fair value $ 11.86 $ 13.25 $ 17.04 $ 12.85 Restricted stock units Number granted 5 — 66 57 Grant date fair value $ 14.32 $ — $ 15.94 $ 11.75 Performance-based stock units Number granted — — 30 29 Grant date fair value $ — $ — $ 16.00 $ 11.75

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The following summarizes the components of net periodic benefit cost: Pension Benefits Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Operating expenses: Service cost $ 120 $ 116 $ 359 $ 349 Interest expense: Interest expense 1,155 1,063 3,464 3,189 Expected return on plan assets (1,286) (1,264) (3,858) (3,793) Amortization of prior service cost 11 10 32 31 Settlement loss 91 — 609 — Actuarial loss 422 511 1,267 1,533 Net periodic pension cost $ 513 $ 436 $ 1,873 $ 1,309 Other Postretirement Benefits Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Operating expenses: Service cost $ 4 $ 3 $ 11 $ 10 Interest expense: Interest expense 83 85 248 254 Amortization of prior service cost (177) (178) (532) (533) Actuarial loss 109 115 328 345 Net periodic pension cost $ 19 $ 25 $ 55 $ 76 13. PENSION AND OTHER POSTRETIREMENT BENEFITS (continued)

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Costs in Inventory	The following summarizes the Company’s costs in inventory: December 31, 2018 December 31, 2017 March 31, 2018 Processed $ 697,614 $ 786,227 $ 468,208 Unprocessed 109,351 98,800 204,149 Other 20,817 20,653 25,730 Total inventory $ 827,782 $ 905,680 $ 698,087

OTHER COMPREHENSIVE (LOSS) IN_2

OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	9 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of Components Reclassified from Accumulated Other Comprehensive Loss to Earnings	The following summarizes the components reclassified from accumulated other comprehensive loss to earnings: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Pension and other postretirement benefits*: Actuarial loss $ 534 $ 626 $ 1,601 $ 1,878 Amortization of prior service cost (167) (167) (502) (502) Amounts reclassified from accumulated other comprehensive loss to net income, gross 367 459 1,099 1,376 Tax effects of amounts reclassified from (82) — (246) — Amounts reclassified from accumulated other comprehensive loss to net income, net $ 285 $ 459 $ 853 $ 1,376 *Amounts are included in net periodic benefit costs for pension and other postretirement benefits. See "Note 13. Pension and Other Postretirement Benefits" for more information.

SALE OF RECEIVABLES (Tables)

SALE OF RECEIVABLES (Tables)	9 Months Ended
	Dec. 31, 2018
Transfers and Servicing [Abstract]
Schedule of Accounts Receivable Securitization Information	The following summarizes the accounts receivable securitization information: December 31, March 31, 2018 2017 2018 Receivables outstanding in facility $ 92,445 $ 125,581 $ 228,621 Beneficial interest 24,659 26,272 48,715 Servicing liability 26 55 81 Cash proceeds: Cash purchase price $ 416,526 $ 402,402 $ 694,517 Deferred purchase price 171,565 183,610 263,670 Service fees 435 359 473 Total $ 588,526 $ 586,371 $ 958,660

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Recurring Fair Value Measurements	The following summarizes the items measured at fair value on a recurring basis: December 31, 2018 December 31, 2017 March 31, 2018 Total Assets / Total Assets / Total Assets / Liabilities Liabilities Liabilities Level 2 Level 3 at Fair Value Level 2 Level 3 at Fair Value Level 2 Level 3 at Fair Value Assets Derivative financial instruments $ 1,029 $ — $ 1,029 $ — $ — $ — $ — $ — $ — Securitized beneficial interests — 24,659 24,659 — 26,272 26,272 — 48,715 48,715 Total assets $ 1,029 $ 24,659 $ 25,688 $ — $ 26,272 $ 26,272 $ — $ 48,715 $ 48,715 Liabilities Long-term debt $ 742,047 $ 708 $ 742,755 $ 877,647 $ — $ 877,647 $ 911,264 $ 895 $ 912,159 Guarantees — 2,890 2,890 — 2,913 2,913 — 5,864 5,864 Total liabilities $ 742,047 $ 3,598 $ 745,645 $ 877,647 $ 2,913 $ 880,560 $ 911,264 $ 6,759 $ 918,023
Schedule of Assets Measured on Recurring Basis	The following summarizes the reconciliation of changes in Level 3 instruments measured on a recurring basis: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 Securitized Beneficial Interests Guarantees Securitized Beneficial Interests Guarantees Beginning balance $ 17,512 $ 1,861 $ 48,715 $ 5,864 Issuances of sales of receivables/guarantees 71,047 1,585 161,943 2,988 Settlements (62,432) (569) (183,450) (6,109) (Losses) gains recognized in earnings (1,468) 13 (2,549) 147 Ending balance $ 24,659 $ 2,890 $ 24,659 $ 2,890 Three Months Ended December 31, 2017 Nine Months Ended December 31, 2017 Securitized Beneficial Interest Guarantees Securitized Beneficial Interest Guarantees Beginning balance $ 23,668 $ 2,770 $ 38,206 $ 7,126 Issuances of sales of receivables/guarantees 66,496 1,128 177,259 3,193 Settlements (62,407) (993) (186,582) (6,946) Losses recognized in earnings (1,485) 8 (2,611) (460) Ending balance $ 26,272 $ 2,913 $ 26,272 $ 2,913

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following summarizes sales and purchases with related parties: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Sales $ 475 $ 447 $ 14,238 $ 23,503 Purchases 46,281 35,563 98,784 73,500

INVESTEE COMPANIES (Tables)

INVESTEE COMPANIES (Tables)	9 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The following summarizes the Company's equity method investments as of December 31, 2018: Investee Name Location Primary Purpose The Company's Ownership Percentage Basis Difference Adams International Ltd. Thailand purchase and process tobacco 49 % — Alliance One Industries India Private Ltd. India purchase and process tobacco 49 % — China Brasil Tobacos Exportadora SA Brazil purchase and process tobacco 49 % 7,475 Criticality LLC U.S. extraction of cannabidiol from industrial hemp 40 % 381 Nicotine River, LLC U.S. produce consumable e-liquids 40 % 2,150 Oryantal Tutun Paketleme Turkey process tobacco 50 % — Purilum, LLC U.S. produce flavor formulations and consumable e-liquids 50 % — Siam Tobacco Export Company Thailand purchase and process tobacco 49 % —

RESTRUCTURING AND ASSET IMPAI_2

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES (Tables)	9 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following summarizes restructuring and impairment charges: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Employee separation charges $ 1,122 $ — $ 2,499 $ — Asset impairment and other non-cash charges 545 — 891 — Restructuring and asset impairment charges $ 1,667 $ — $ 3,390 $ — The following summarizes the liability for employee separation charges recorded in the Leaf - North America and Leaf - Other Regions segments: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Leaf - North America Leaf - Other Regions Leaf - North America Leaf - Other Regions Leaf - North America Leaf - Other Regions Leaf - North America Leaf - Other Regions Beginning balance $ 107 $ 889 $ — $ — $ — $ 107 $ — $ — Accruals 892 230 — — 1,139 1,360 — — Payments (73) (328) — — (213) (676) — — Ending balance $ 926 $ 791 $ — $ — $ 926 $ 791 $ — $ — There was no liability for employee separation charges recorded in the Other Products and Services segment. 20. RESTRUCTURING AND ASSET IMPAIRMENT CHARGES (continued)
Schedule of Asset Impairment and Other Non-Cash Charges by Segment	The following summarizes the asset impairment and other non-cash charges by segment: Three Months Ended December 31, Nine Months Ended December 31, 2018 2017 2018 2017 Leaf - North America $ 545 $ — $ 545 $ — Leaf - Other Regions — — 346 — Total $ 545 $ — $ 891 $ — There were no asset impairments or other non-cash charges recorded in the Other Products and Services segment.

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Cash and Cash Equivalents [Line Items]
Value added tax expense	$ 4,858,000	$ 2,703,000	$ 14,692,000	$ 13,801,000
Cash and cash equivalents	209,160,000	209,490,000	209,160,000	209,490,000	$ 264,660,000	$ 473,110,000
Cash held on deposit	1,220,000	2,006,000	1,220,000	2,006,000	1,261,000
Cash restricted for capital investment	0	0	0	0	1,487,000
Purchases of property, plant and equipment			1,501,000	279,000
Sales of property, plant and equipment			1,473,000	0
Interest costs capitalized during period	1,578,000	381,000	1,197,000	0
Collections on beneficial interests on securitized trade receivables			171,565,000	183,610,000
Interest expense	33,947,000	33,564,000	102,182,000	101,105,000
Retained deficit	(213,905,000)	(151,848,000)	(213,905,000)	(151,848,000)	(156,348,000)
Accounting Standards Update 2016-15
Cash and Cash Equivalents [Line Items]
Cash collections from beneficial interests		183,610,000		183,610,000
Collections on beneficial interests on securitized trade receivables				177,259,000
Accounting Standards Update 2016-18
Cash and Cash Equivalents [Line Items]
Restricted cash		$ 2,749,000		2,749,000	$ 3,373,000
Change in restricted cash				$ 440,000
Interest expense	342,000		1,026,000
Accounting Standards Update 2018-02
Cash and Cash Equivalents [Line Items]
Retained deficit	2,931,000		2,931,000
Zimbabwe | Cash Held in Real Time Gross Settlement System
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,644,000		$ 2,644,000

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Capitalized costs to obtain a contract	$ 35,174	$ 23,298	$ 17,262	$ 12,737
Other Intangible Assets
Disaggregation of Revenue [Line Items]
Capitalized costs to obtain a contract	$ 4,896

REVENUE RECOGNITION - Revenue D

REVENUE RECOGNITION - Revenue Disaggregated by Product or Service (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended			12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	$ 524,487	$ 477,783	$ 454,535	$ 1,210,351	$ 1,202,115	$ 1,105,060	$ 1,845,966	$ 1,714,750
Leaf Tobacco - North America Segment
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	77,850	120,689	108,869	181,764	245,307	217,629	451,383	396,217
Leaf Tobacco - North America Segment | Product revenue
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	60,280			152,725
Leaf Tobacco - North America Segment | Processing and other revenues
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	17,570			29,039
Leaf Tobacco - Other Regions Segment
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	441,719	357,094	345,666	1,018,255	956,808	887,431	1,394,048	1,318,533
Leaf Tobacco - Other Regions Segment | Product revenue
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	432,423			977,503
Leaf Tobacco - Other Regions Segment | Processing and other revenues
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	9,296			40,752
Other Products and Services Segment
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	$ 4,918	$ 0	$ 0	$ 10,332	$ 0	$ 0	$ 535	$ 0

REVENUE RECOGNITION - Claims Al

REVENUE RECOGNITION - Claims Allowance Activity (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2018
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, beginning of period	$ 1,360	$ 1,100
Additions	526	2,258
Payments	(476)	(1,948)
Balance, end of period	$ 1,410	$ 1,410

REVENUE RECOGNITION - Allowance

REVENUE RECOGNITION - Allowance for Doubtful Accounts (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ (7,324)	$ (7,055)
Additions	(1,774)	(2,136)
Writes-offs	(15)	78
Balance at end of period	(9,113)	(9,113)
Trade receivables	277,860	277,860
Trade receivables, net	$ 268,747	$ 268,747

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended		36 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits	$ 9,153
Unrecognized tax benefits that would impact effective tax rate	8,912
Interest on income taxes accrued	1,176
Income tax penalties accrued	939
Adjustment to deemed repatriation tax liability	$ 1,827
Effective income tax rate (as a percent)	(65.30%)	396.40%
Non-U.S
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax penalties accrued	$ 2,692
Income tax settlements	1,166
Favorable adjustment to tax expense	1,526		$ 1,987
Payments for income tax settlements	2,988
Income tax settlement accrual	$ 964
Non-U.S | Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax examination, open tax years	3 years
Non-U.S | Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax examination, open tax years	6 years

GUARANTEES - Summary (Details)

GUARANTEES - Summary (Details) - USD ($)	9 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Guarantor Obligations [Line Items]
Amounts guaranteed (not to exceed)	$ 176,762,000	$ 150,900,000	$ 165,333,000
Amounts outstanding under guarantee	79,336,000	126,835,000	96,154,000
Fair value of guarantees	$ 2,890,000	5,864,000	2,913,000
Number of years before expiring guarantees	1 year
Financial Guarantee
Guarantor Obligations [Line Items]
Amounts outstanding under guarantee	$ 0	$ 14,807,000	$ 0

GOODWILL AND INTANGIBLES - Inta

GOODWILL AND INTANGIBLES - Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Schedule of Intangible Assets [Line Items]
Beginning Gross Carrying Amount	$ 150,120	$ 108,467
Additions	13,900	41,653
Accumulated Amortization	(57,571)	(51,850)
Impact of Foreign Currency Translation	(2,266)
Ending Intangible Assets, Net	104,183	98,270
Goodwill	34,109	27,546	$ 16,463	$ 16,463
Leaf Tobacco - North America Segment
Schedule of Intangible Assets [Line Items]
Goodwill	2,795	2,795	2,794	2,794
Leaf Tobacco - Other Regions Segment
Schedule of Intangible Assets [Line Items]
Goodwill	13,669	13,669	13,669	13,669
Other Products and Services Segment
Schedule of Intangible Assets [Line Items]
Goodwill	$ 17,645	$ 11,082	$ 0	$ 0
Customer relationships
Schedule of Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	9 years 9 months 7 days	10 years 10 months 6 days
Beginning Gross Carrying Amount	$ 58,530	$ 58,530
Additions	5,450	0
Accumulated Amortization	(28,021)	(25,005)
Impact of Foreign Currency Translation	0
Ending Intangible Assets, Net	$ 35,959	$ 33,525
Production and supply contracts
Schedule of Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	3 years 1 month 6 days	3 years 9 months 25 days
Beginning Gross Carrying Amount	$ 14,893	$ 14,893
Additions	0	0
Accumulated Amortization	(9,997)	(8,774)
Impact of Foreign Currency Translation	0
Ending Intangible Assets, Net	$ 4,896	$ 6,119
Internally developed software
Schedule of Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	3 years 7 months 28 days	2 years 9 months 25 days
Beginning Gross Carrying Amount	$ 18,812	$ 18,581
Additions	759	231
Accumulated Amortization	(18,229)	(17,828)
Impact of Foreign Currency Translation	0
Ending Intangible Assets, Net	$ 1,342	$ 984
Licenses
Schedule of Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	19 years 1 month 9 days	19 years 10 months 2 days
Beginning Gross Carrying Amount	$ 30,339	$ 0
Additions	17	30,339
Accumulated Amortization	(1,277)	(243)
Impact of Foreign Currency Translation	(1,655)
Ending Intangible Assets, Net	$ 27,424	30,096
Trade names
Schedule of Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	7 years 3 months
Beginning Gross Carrying Amount	$ 0
Additions	500
Accumulated Amortization	(47)
Impact of Foreign Currency Translation	0
Ending Intangible Assets, Net	453
Goodwill
Schedule of Intangible Assets [Line Items]
Beginning Gross Carrying Amount	27,546	16,463
Additions	7,174	11,083
Impact of Foreign Currency Translation	(611)
Ending Intangible Assets, Net	$ 34,109	$ 27,546

GOODWILL AND INTANGIBLES - Esti

GOODWILL AND INTANGIBLES - Estimated Intangible Asset Amortization Expense (Details) $ in Thousands	Dec. 31, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
January 1, 2019 through March 31, 2019	$ 2,036
2,020	7,710
2,021	7,205
2,022	6,975
2,023	5,698
Later	40,450
Total estimated future intangible asset amortization expense	70,074
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
January 1, 2019 through March 31, 2019	1,005
2,020	4,022
2,021	4,022
2,022	4,022
2,023	4,022
Later	18,866
Total estimated future intangible asset amortization expense	35,959
Production and Supply Contracts
Finite-Lived Intangible Assets [Line Items]
January 1, 2019 through March 31, 2019	516
2,020	1,741
2,021	1,397
2,022	1,242
2,023	0
Later	0
Total estimated future intangible asset amortization expense	4,896
Internally Developed Software Intangible
Finite-Lived Intangible Assets [Line Items]
January 1, 2019 through March 31, 2019	139
2,020	445
2,021	284
2,022	211
2,023	179
Later	84
Total estimated future intangible asset amortization expense	1,342
Licenses
Finite-Lived Intangible Assets [Line Items]
January 1, 2019 through March 31, 2019	360
2,020	1,439
2,021	1,439
2,022	1,437
2,023	1,434
Later	21,315
Total estimated future intangible asset amortization expense	27,424
Trade Names
Finite-Lived Intangible Assets [Line Items]
January 1, 2019 through March 31, 2019	16
2,020	63
2,021	63
2,022	63
2,023	63
Later	185
Total estimated future intangible asset amortization expense	$ 453

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2018USD ($)joint_venture	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Variable Interest Entity [Line Items]
Investment in joint ventures	$ 68,351	$ 68,151	$ 67,069
Advances to joint ventures	5,077	8,188	9,832
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investment in joint ventures	62,156	64,208	66,287
Advances to joint ventures	$ 2,817	5,895	9,832
Number of joint ventures, maximum loss exposure | joint_venture	2
Joint ventures, maximum loss exposure	$ 73,278	$ 65,487	$ 73,223

SEGMENT INFORMATION - Analysis

SEGMENT INFORMATION - Analysis of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended			12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Total sales and other operating revenues	$ 524,487	$ 477,783	$ 454,535	$ 1,210,351	$ 1,202,115	$ 1,105,060	$ 1,845,966	$ 1,714,750
Total operating income	39,355	40,237	40,075	56,633	79,128	53,846	111,904	87,342
Total assets	2,023,719	2,054,188		2,023,719	2,054,188		1,966,631	1,971,872
Trade and other receivables, net	290,052	240,817		290,052	240,817		304,399	254,185
Goodwill	34,109	16,463		34,109	16,463		27,546	16,463
Equity in net assets of investee companies	67,568	66,287		67,568	66,287		67,369	51,443
Depreciation and amortization	26,887	24,845		26,887	24,845		33,598	34,476
Capitalized expenditures	35,174	17,262		35,174	17,262		23,298	12,737
Leaf Tobacco - North America Segment
Segment Reporting Information [Line Items]
Total sales and other operating revenues	77,850	120,689	108,869	181,764	245,307	217,629	451,383	396,217
Total operating income	2,870	7,340	5,685	7,888	13,463	8,366	26,446	15,333
Total assets	318,295	495,950		318,295	495,950		366,495	375,782
Trade and other receivables, net	22,724	34,042		22,724	34,042		46,096	40,212
Goodwill	2,795	2,794		2,795	2,794		2,795	2,794
Equity in net assets of investee companies	0	0		0	0		0	0
Depreciation and amortization	5,365	5,572		5,365	5,572		7,435	7,543
Capitalized expenditures	3,011	4,461		3,011	4,461		4,649	3,638
Leaf Tobacco - Other Regions Segment
Segment Reporting Information [Line Items]
Total sales and other operating revenues	441,719	357,094	345,666	1,018,255	956,808	887,431	1,394,048	1,318,533
Total operating income	44,133	32,897	34,390	70,010	65,665	45,480	88,742	72,009
Total assets	1,598,879	1,558,238		1,598,879	1,558,238		1,528,859	1,596,090
Trade and other receivables, net	266,104	206,775		266,104	206,775		257,968	213,973
Goodwill	13,669	13,669		13,669	13,669		13,669	13,669
Equity in net assets of investee companies	55,283	56,808		55,283	56,808		57,434	51,832
Depreciation and amortization	19,398	19,273		19,398	19,273		25,754	26,933
Capitalized expenditures	13,263	12,801		13,263	12,801		17,017	9,099
Other Products and Services Segment
Segment Reporting Information [Line Items]
Total sales and other operating revenues	4,918	0	0	10,332	0	0	535	0
Total operating income	(7,648)	0	$ 0	(21,265)	0	$ 0	(3,284)	0
Total assets	106,545	0		106,545	0		71,277	0
Trade and other receivables, net	1,224	0		1,224	0		335	0
Goodwill	17,645	0		17,645	0		11,082	0
Equity in net assets of investee companies	12,285	9,479		12,285	9,479		9,935	(389)
Depreciation and amortization	2,124	0		2,124	0		409	0
Capitalized expenditures	$ 18,900	$ 0		$ 18,900	$ 0		$ 1,632	$ 0

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - $ / shares shares in Thousands	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Shares of common stock owned by the subsidiary (shares)	785	785
Stock Options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	427	427
Weighted average exercise price of antidilutive shares (USD per share)	$ 60	$ 60

EARNINGS PER SHARE - Summary (D

EARNINGS PER SHARE - Summary (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Basic (loss) income per share:
Net income attributable to Pyxus International, Inc.	$ (5,095)	$ 88,456	$ (60,487)	$ 56,936
Weighted average number of shares outstanding (shares)	9,068	9,001	9,048	8,982
Basic (loss) income per share (USD per share)	$ (0.56)	$ 9.83	$ (6.69)	$ 6.34
Diluted (loss) income per share:
Net income attributable to Pyxus International, Inc.	$ (5,095)	$ 88,456	$ (60,487)	$ 56,936
Weighted average number of shares outstanding (shares)	9,068	9,001	9,048	8,982
Plus: Restricted shares issued and shares applicable to stock options and restricted stock units, net of shares assumed to be purchased from proceeds at average market price (shares)	0	28	0	27
Adjusted weighted average number of common shares outstanding (shares)	9,068	9,029	9,048	9,009
Diluted (loss) income per share (USD per share)	$ (0.56)	$ 9.80	$ (6.69)	$ 6.32

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details)	3 Months Ended
	Dec. 31, 2018
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 402	$ 271	$ 1,155	$ 869
Stock-based Awards Payable in Cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 0	$ 0	$ 0	$ 54
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number granted (shares)	13	7	26	22
Grant date fair value (USD per share)	$ 11.86	$ 13.25	$ 17.04	$ 12.85
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number granted (shares)	5	0	66	57
Grant date fair value (USD per share)	$ 14.32	$ 0	$ 15.94	$ 11.75
Performance-based stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number granted (shares)	0	0	30	29
Grant date fair value (USD per share)	$ 0	$ 0	$ 16	$ 11.75

CONTINGENCIES AND OTHER INFOR_2

CONTINGENCIES AND OTHER INFORMATION - Narrative (Details) $ in Thousands	9 Months Ended	12 Months Ended	24 Months Ended
	Dec. 31, 2018USD ($)facility	Mar. 31, 2013USD ($)	Dec. 31, 2005USD ($)	Oct. 26, 2007USD ($)
Loss Contingencies [Line Items]
Amount of federal taxes offset			$ 24,142
Number of facilities with an associated asset retirement obligation | facility	1
Other Income (Expense)
Loss Contingencies [Line Items]
Benefit of excise tax		$ 24,142
IPI Credit Bonus
Loss Contingencies [Line Items]
Gain contingency, unrecorded amount		$ 94,316
Tax Assessment | Brazilian State of Parana
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 11,743			$ 3,399
Tax Assessment | Brazil State of Rio Grande do Sul and the State of Santa Catarina
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 7,138

DEBT ARRANGEMENTS - Narrative (

DEBT ARRANGEMENTS - Narrative (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
EBITDA to fixed charges ratio requirement	2
Senior Notes | Senior Secured First Lien Notes Due 2021
Debt Instrument [Line Items]
Stated interest rate (as a percent)	8.50%
Senior Notes | Senior Secured Second Lien Notes Due 2021
Debt Instrument [Line Items]
Stated interest rate (as a percent)	9.875%
Extinguishment of debt	$ 27,260
Senior notes	635,686
Unamortized discount	2,293
Repayments of senior debt	24,967
Associated costs paid	68
Write-off of debt issuance cost and unamortized discount	$ 472

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Derivative [Line Items]
Gain (loss) recognized in income	$ (458,000)	$ (656,000)	$ (1,445,000)	$ (598,000)
Gain (loss) recognized in income from discontinuance of cash flow hedges			987,000
Current derivative asset	1,029,000	0	1,029,000	0	$ 0
Loss on Derivatives
Derivative [Line Items]
Accumulated other comprehensive loss	$ 2,307,000	$ 999,000	2,307,000	999,000
Tax on accumulated other comprehensive loss			$ 613,000	$ 0

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer			$ 4,629
Additional contributions to the plans	$ 2,101		2,101
Settlement loss	91	$ 0	609	$ 0
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer			261
Additional contributions to the plans	$ 256		$ 256

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFITS - Summary (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 120	$ 116	$ 359	$ 349
Interest expense	1,155	1,063	3,464	3,189
Expected return on plan assets	(1,286)	(1,264)	(3,858)	(3,793)
Amortization of prior service cost	11	10	32	31
Settlement loss	91	0	609	0
Actuarial loss	422	511	1,267	1,533
Net periodic pension cost (benefit)	513	436	1,873	1,309
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	3	11	10
Interest expense	83	85	248	254
Amortization of prior service cost	(177)	(178)	(532)	(533)
Actuarial loss	109	115	328	345
Net periodic pension cost (benefit)	$ 19	$ 25	$ 55	$ 76

INVENTORIES - Summary (Details)

INVENTORIES - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Processed tobacco	$ 697,614	$ 468,208	$ 786,227
Unprocessed tobacco	109,351	204,149	98,800
Other	20,817	25,730	20,653
Total inventory	$ 827,782	$ 698,087	$ 905,680

OTHER COMPREHENSIVE (LOSS) IN_3

OTHER COMPREHENSIVE (LOSS) INCOME - Components Reclassified from AOCI to Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Reclassification Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from accumulated other comprehensive loss to net income, gross	$ (367)	$ (459)	$ (1,099)	$ (1,376)
Tax effects of amounts reclassified from accumulated other comprehensive loss to net income	(82)	0	(246)	0
Amounts reclassified from accumulated other comprehensive loss to net income, net	285	459	853	1,376
Actuarial loss
Reclassification Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from accumulated other comprehensive loss to net income, gross	(534)	(626)	(1,601)	(1,878)
Amortization of prior service cost
Reclassification Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from accumulated other comprehensive loss to net income, gross	$ 167	$ 167	$ 502	$ 502

SALE OF RECEIVABLES - Narrative

SALE OF RECEIVABLES - Narrative (Details)	9 Months Ended		12 Months Ended
	Dec. 31, 2018USD ($)program	Dec. 31, 2017USD ($)	Mar. 31, 2018USD ($)
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]
Number of accounts receivable securitization programs | program	2
Receivables sold, face value discounted (as a percent)	100.00%
Reductions of trade and other receivables due to settlements	$ 78,000	$ (7,953,000)	$ (10,858,000)
Accounts Receivable Securitization, Program One
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]
Trade receivables, maximum amount	155,000,000
Accounts Receivable Securitization, Program Two
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]
Trade receivables, maximum amount	$ 125,000,000

SALE OF RECEIVABLES - Summary (

SALE OF RECEIVABLES - Summary (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Transfers and Servicing [Abstract]
Receivables outstanding in facility	$ 92,445	$ 125,581	$ 228,621
Beneficial interest	24,659	26,272	48,715
Servicing liability	26	55	81
Cash proceeds for the nine months ended:
Cash purchase price	416,526	402,402	694,517
Deferred purchase price	171,565	183,610	263,670
Service fees	435	359	473
Total	$ 588,526	$ 586,371	$ 958,660

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2018USD ($)
Guarantees of Farmers | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Market interest rate (as a percent)	15.00%
Guarantees of Farmers | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Market interest rate (as a percent)	70.00%
Securitized Beneficial Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Unrealized losses for securitized beneficial interests	$ 643	$ 650	$ 2,531
Securitized Beneficial Interests | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Payment speed	64 days
Discount rate (as a percent)	5.00%
Securitized Beneficial Interests | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Payment speed	73 days
Discount rate (as a percent)	7.30%
Loss Severity | Guarantees of Farmers | Historical Loss Valuation Technique | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Historical loss (as a percent)	0.024
Loss Severity | Guarantees of Farmers | Historical Loss Valuation Technique | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Historical loss (as a percent)	0.100

FAIR VALUE MEASUREMENTS - Input

FAIR VALUE MEASUREMENTS - Input Hierarchy of Items Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Total Assets / Liabilities at Fair Value
Assets
Derivative financial instruments	$ 1,029	$ 0	$ 0
Securitized beneficial interests	24,659	48,715	26,272
Total assets	25,688	48,715	26,272
Liabilities
Long-term debt	742,755	912,159	877,647
Guarantees	2,890	5,864	2,913
Total liabilities	745,645	918,023	880,560
Level 2
Assets
Derivative financial instruments	1,029	0	0
Securitized beneficial interests	0	0	0
Total assets	1,029	0	0
Liabilities
Long-term debt	742,047	911,264	877,647
Guarantees	0	0	0
Total liabilities	742,047	911,264	877,647
Level 3
Assets
Derivative financial instruments	0	0	0
Securitized beneficial interests	24,659	48,715	26,272
Total assets	24,659	48,715	26,272
Liabilities
Long-term debt	708	895	0
Guarantees	2,890	5,864	2,913
Total liabilities	$ 3,598	$ 6,759	$ 2,913

FAIR VALUE MEASUREMENTS - Recon

FAIR VALUE MEASUREMENTS - Reconciliation of Change in Recurring Level 3 Balances (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Securitized Beneficial Interests
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 17,512	$ 23,668	$ 48,715	$ 38,206
Issuances of sales of receivables/guarantees	71,047	66,496	161,943	177,259
Settlements	(62,432)	(62,407)	(183,450)	(186,582)
(Losses) gains recognized in earnings	(1,468)	(1,485)	(2,549)	(2,611)
Ending balance	24,659	26,272	24,659	26,272
Guarantees
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,861	2,770	5,864	7,126
Issuances of sales of receivables/guarantees	1,585	1,128	2,988	3,193
Settlements	(569)	(993)	(6,109)	(6,946)
(Losses) gains recognized in earnings	13	8	147	(460)
Ending balance	$ 2,890	$ 2,913	$ 2,890	$ 2,913

RELATED PARTY TRANSACTIONS - Su

RELATED PARTY TRANSACTIONS - Summary (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Sales	$ 475		$ 447		$ 14,238	$ 23,503
Purchases	$ 46,281	$ 21,042	$ 35,563	$ 52,503	$ 98,784	$ 73,500

INVESTEE COMPANIES - Summary (D

INVESTEE COMPANIES - Summary (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2018USD ($)
Minimum
Schedule of Equity Method Investments [Line Items]
Estimated useful lives of assets and liabilities	1 year
Adams International Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	49.00%
Basis difference	$ 0
Alliance One Industries India Private Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	49.00%
Basis difference	$ 0
China Brasil Tobacos Exportadora SA
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	49.00%
Basis difference	$ 7,475
Criticality LLC
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	40.00%
Basis difference	$ 381
Nicotine River, LLC
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	40.00%
Basis difference	$ 2,150
Oryantal Tutun Paketleme
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	50.00%
Basis difference	$ 0
Purilum, LLC
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	50.00%
Basis difference	$ 0
Siam Tobacco Export Company
Schedule of Equity Method Investments [Line Items]
Ownership in equity method investment (as a percent)	49.00%
Basis difference	$ 0

RESTRUCTURING AND ASSET IMPAI_3

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Restructuring and Related Activities [Abstract]
Employee separation charges	$ 1,122	$ 0	$ 2,499	$ 0
Asset impairment and other non-cash charges	545	0	891	0
Restructuring and asset impairment charges	$ 1,667	$ 0	$ 3,390	$ 0

RESTRUCTURING AND ASSET IMPAI_4

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES - Employee Separation and Other Cash Charges by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Restructuring Reserve [Roll Forward]
Accruals	$ 1,122	$ 0	$ 2,499	$ 0
Leaf Tobacco - North America Segment
Restructuring Reserve [Roll Forward]
Balance at beginning of period	107	0	0	0
Accruals	892	0	1,139	0
Payments	(73)	0	(213)	0
Balance at end of period	926	0	926	0
Leaf Tobacco - Other Regions Segment
Restructuring Reserve [Roll Forward]
Balance at beginning of period	889	0	107	0
Accruals	230	0	1,360	0
Payments	(328)	0	(676)	0
Balance at end of period	$ 791	$ 0	$ 791	$ 0

RESTRUCTURING AND ASSET IMPAI_5

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES - Asset Impairment and Non-Cash Charges by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Asset impairment and other non-cash charges	$ 545	$ 0	$ 891	$ 0
Leaf Tobacco - North America Segment
Restructuring Cost and Reserve [Line Items]
Asset impairment and other non-cash charges	545	0	545	0
Leaf Tobacco - Other Regions Segment
Restructuring Cost and Reserve [Line Items]
Asset impairment and other non-cash charges	$ 0	$ 0	$ 346	$ 0