UNIVERSAL CORP /VA/, 10-Q filed on 2/9/2026
Quarterly Report
v3.25.4
Document Information - shares
 9 Months Ended
Dec. 31, 2025
Feb. 04, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Amendment Flag false  
Document Period End Date Dec. 31, 2025  
Entity File Number 001-00652  
Entity Registrant Name UNIVERSAL CORPORATION  
Entity Incorporation, State or Country Code VA  
Entity Tax Identification Number 54-0414210  
Entity Address, Address Line One 9201 Forest Hill Avenue,  
Entity Address, City or Town Richmond,  
Entity Address, State or Province VA  
Entity Address, Postal Zip Code 23235  
City Area Code 804  
Local Phone Number 359-9311  
Title of 12(b) Security Common Stock, no par value  
Trading Symbol UVV  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   24,923,496
Entity Central Index Key 0000102037  
Current Fiscal Year End Date --03-31  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2026  
v3.25.4
Consolidated Statements Of Income And Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Income Statement [Abstract]        
Sales and other operating revenues $ 861,288 $ 937,193 $ 2,209,227 $ 2,245,005
Costs and expenses        
Cost of goods sold 701,700 743,605 1,795,682 1,812,351
Selling, general and administrative expenses 76,927 89,512 228,300 232,044
Restructuring and impairment costs [1] 711 0 1,833 10,573
Operating income 81,950 104,076 183,412 190,037
Equity in pretax earnings (loss) of unconsolidated affiliates [2] 1,257 2,149 1,131 1,647
Other non-operating income (expense) 584 468 1,752 1,393
Interest income 360 623 1,785 1,726
Interest expense 17,260 19,303 55,475 61,310
Income (loss) before income taxes and other items 66,891 88,013 132,605 133,493
Income taxes 25,303 20,217 41,847 34,552
Net income (loss) 41,588 67,796 90,758 98,941
Less: net loss (income) attributable to noncontrolling interests in subsidiaries (8,339) (8,157) (14,843) (13,232)
Net income (loss) attributable to Universal Corporation $ 33,249 $ 59,639 $ 75,915 $ 85,709
Earnings per share:        
Basic $ 1.33 $ 2.39 $ 3.03 $ 3.44
Total comprehensive income (loss)        
Total comprehensive income (loss), net of income taxes $ 40,449 $ 56,974 $ 98,205 $ 82,155
Less: comprehensive (income) loss attributable to noncontrolling interests (8,198) (7,784) (14,447) (12,466)
Comprehensive income (loss) attributable to Universal Corporation $ 32,251 $ 49,190 $ 83,758 $ 69,689
Dividends declared per common share $ 0.82 $ 0.81 $ 2.46 $ 2.43
Diluted $ 1.32 $ 2.37 $ 3.02 $ 3.41
Basic 25,056,517 24,980,792 25,030,798 24,934,786
Diluted 25,188,876 25,142,667 25,166,825 25,115,153
[1] Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income. See Note 2 for additional information.
[2] Equity in pretax earnings (loss) of unconsolidated affiliates is included in segment operating income (Tobacco Operations), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income and comprehensive income.
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
ASSETS      
Cash and cash equivalents $ 85,227 $ 260,115 $ 215,108
Accounts receivable, net 571,511 625,876 650,021
Advances to suppliers, net 168,348 169,385 156,108
Accounts receivable—unconsolidated affiliates 62,390 7,143 578
Inventories—at lower of cost or net realizable value:      
Tobacco 990,638 806,332 924,684
Other 212,321 189,610 189,663
Prepaid income taxes 16,020 19,595 10,930
Other current assets 76,970 78,041 68,553
Total current assets 2,183,425 2,156,097 2,215,645
Property, plant and equipment      
Land 26,286 26,113 26,081
Buildings 332,864 333,398 327,376
Machinery and equipment 756,467 723,935 709,840
Total property, plant and equipment 1,115,617 1,083,446 1,063,297
Less accumulated depreciation (740,949) (710,472) (689,445)
Property, plant and equipment, net 374,668 372,974 373,852
Other assets      
Operating lease right-of-use assets 36,906 34,260 33,982
Goodwill, net 213,798 213,840 213,819
Other intangibles, net 50,635 57,836 60,444
Investments in unconsolidated affiliates 85,137 79,317 70,351
Deferred income taxes 15,395 16,539 17,517
Pension asset 13,580 12,819 12,511
Other noncurrent assets 43,970 45,870 42,298
Total other assets 459,421 460,481 450,922
Total assets 3,017,514 2,989,552 3,040,419
LIABILITIES AND SHAREHOLDERS' EQUITY      
Notes payable and overdrafts 462,248 455,039 538,526
Accounts payable 82,580 98,036 78,327
Accounts payable—unconsolidated affiliates 2,708 1,999 5,985
Customer advances and deposits 1,667 3,763 3,362
Accrued compensation 27,381 44,646 32,232
Income taxes payable 19,949 12,586 15,341
Current portion of operating lease liabilities 11,277 10,742 9,835
Accrued expenses and other current liabilities 143,637 123,350 135,707
Current portion of long-term debt 0 0 0
Total current liabilities 751,447 750,161 819,315
Long-term debt 616,585 617,918 617,780
Pensions and other postretirement benefits 36,665 35,336 36,485
Long-term operating lease liabilities 23,570 20,608 20,408
Other long-term liabilities 26,222 22,901 18,688
Deferred income taxes 37,851 42,090 35,831
Total liabilities 1,492,340 1,489,014 1,548,507
Shareholders' equity      
Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized, none issued or outstanding 0 0 0
Common stock, no par value, 100,000,000 shares authorized 24,921,155 shares issued and outstanding at December 31, 2025 (24,715,625 at December 31, 2024 and 24,715,625 at March 31, 2025) 354,126 351,626 350,243
Retained earnings 1,200,890 1,186,981 1,197,972
Accumulated other comprehensive loss (72,208) (80,051) (97,605)
Total Universal Corporation shareholders' equity 1,482,808 1,458,556 1,450,610
Noncontrolling interests in subsidiaries 42,366 41,982 41,302
Total shareholders' equity 1,525,174 1,500,538 1,491,912
Total liabilities and shareholders' equity $ 3,017,514 $ 2,989,552 $ 3,040,419
v3.25.4
Consolidated Balance Sheets (Parenthetical) - shares
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Common Stock [Member]      
Common stock, shares authorized 100,000,000 100,000,000 100,000,000
Common stock, shares issued 24,921,155 24,715,625 24,715,625
Common stock, shares outstanding 24,921,155 24,715,625 24,715,625
Series A Junior Participating Preferred Stock [Member]      
Preferred stock, shares authorized 500,000 500,000 500,000
Preferred stock, shares issued 0 0 0
Preferred stock, shares outstanding 0 0 0
v3.25.4
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 90,758 $ 98,941
Adjustments to reconcile net income (loss) to net cash used by operating activities:    
Depreciation and amortization 40,206 44,554
Net provision for losses (recoveries) on advances to suppliers 1,721 (445)
Inventory writedowns 17,326 6,624
Stock-based compensation expense 9,839 7,458
Foreign currency remeasurement (gain) loss, net 4,578 12,183
Foreign currency exchange contracts (2,734) 3,206
Deferred income taxes (1,546) (3,616)
Equity in net loss (income) of unconsolidated affiliates, net of dividends 215 2,767
Restructuring and impairment costs 1,833 10,573
Restructuring payments (2,957) (892)
Other, net (1,374) 3,087
Accounts and notes receivable (5,714) (130,672)
Inventories (216,035) 132,318
Other assets 6,468 20,097
Accounts payable (18,299) (23,259)
Accrued expenses and other current liabilities 9,938 (17,869)
Income taxes 10,095 16,306
Customer advances and deposits (2,357) (13,133)
Net cash provided (used) by operating activities (58,039) 168,228
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (40,303) (54,885)
Proceeds from sale of property, plant and equipment 6,601 2,035
Net cash used by investing activities (33,702) (52,850)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of short-term debt, net 5,049 121,094
Issuance of long-term debt 89,130 0
Repayment of long-term debt (89,130) 0
Dividends paid to noncontrolling interests (14,063) (12,880)
Dividends paid on common stock (60,862) (59,666)
Settlement costs from termination of interest rate swap agreements (988) 0
Other (12,873) (3,716)
Net cash provided (used) by financing activities (83,737) 44,832
Effect of exchange rate changes on cash, restricted cash and cash equivalents 590 (695)
Net increase (decrease) in cash, restricted cash and cash equivalents (174,888) 159,515
Cash, restricted cash and cash equivalents at beginning of year 260,115 55,593
Cash, restricted cash and cash equivalents at end of period $ 85,227 $ 215,108
v3.25.4
Basis Of Presentation
 9 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis Of Presentation BASIS OF PRESENTATION
Universal Corporation, which together with its subsidiaries is referred to herein as “Universal” or the “Company,” is a global business-to-business agri-products supplier to consumer product manufacturers. The Company is the leading global leaf tobacco supplier and provides high-quality plant-based ingredients to food and beverage end markets. Because of the seasonal nature of the Company’s business, the results of operations for any fiscal quarter will not necessarily be indicative of results to be expected for other quarters or a full fiscal year. All adjustments necessary to state fairly the results for the period have been included and were of a normal recurring nature. This Quarterly Report on Form 10-Q should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2025.
Accounting Pronouncements to be Adopted in Future Years
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740) - Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires additional disclosures reconciling the rates of different categories of income tax (i.e. federal, state, foreign, etc.) and a disaggregation of taxes paid and refunded. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and for interim periods in fiscal years beginning after December 15, 2025, although early adoption is permitted. The Company is currently evaluating the impact of adopting this standard on its income tax disclosures.
In November 2024, the FASB issued Accounting Standards Update No. 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses” (“ASU 2024-03”). ASU 2024-03 requires additional disclosures about certain types of costs and expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and for interim periods beginning after December 15, 2027, although early adoption is permitted. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.
v3.25.4
Restructuring Costs
 9 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Impairment Costs Disclosure RESTRUCTURING AND IMPAIRMENT COSTS
Universal regularly reviews its business for opportunities to realize efficiencies, reduce costs, and realign its operations in response to business changes. Restructuring and impairment costs are periodically incurred in connection with those activities.
Tobacco Operations
During the nine months ended December 31, 2024, the Company began consolidating its European sheet tobacco operations into the Company's facility in the Netherlands, by initiating a wind-down of activities at its sheet facility in Germany, incurring $10.5 million of restructuring and impairment costs. During the nine months ended December 31, 2025, the Company recognized an additional $0.7 million of restructuring costs and $1.0 million of impairment costs related to the consolidation of the sheet tobacco operations. The Company also incurred $0.1 million of termination and impairment costs in other areas of the Tobacco Operations segment in both the nine months ended December 31, 2025 and 2024.
A summary of the restructuring and impairment costs recorded for the three and nine months ended December 31, 2025 and 2024 was as follows:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands)2025202420252024
Restructuring costs:
  Employee termination benefits$— $— $122 $4,342 
  Other711 — 711 1,372 
    Total restructuring costs711 — 833 5,714 
Impairment costs:
  Property, plant and equipment— — 1,000 4,859 
    Total impairment costs— — 1,000 4,859 
      Total restructuring and impairment costs$711 $— $1,833 $10,573 
v3.25.4
Revenue from Contract with Customer
 9 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer REVENUE FROM CONTRACTS WITH CUSTOMERS
The majority of the Company’s consolidated revenue consists of sales of processed leaf tobacco to customers. The Company also earns revenue from processing leaf tobacco owned by customers and from various other services provided to customers. Additionally, the Company has fruit and vegetable processing operations, as well as flavor and extract services that provide customers with a range of food ingredient products. Payment terms with customers vary depending on customer creditworthiness, product types, services provided, and other factors. Contract durations and payment terms for all revenue categories generally do not exceed one year. Therefore, the Company has applied a practical expedient to not adjust the transaction price for the effects of financing components, as the Company expects that the period from the time the revenue for a transaction is recognized to the time the customer pays for the related good or service transferred will be one year or less. Below is a description of the major revenue-generating categories from contracts with customers.
Tobacco Sales
The majority of the Company’s business involves purchasing leaf tobacco from farmers in the regions where it is grown, processing and packing the tobacco in its factories, and then transferring ownership and control of the tobacco to customers. On a much smaller basis, the Company also sources processed tobacco from third-party suppliers for resale to customers. The contracts for tobacco sales with customers create a performance obligation to transfer tobacco to the customer. Transaction prices for the sale of tobacco are primarily based on negotiated fixed prices, but the Company does have a small number of cost-plus contracts with certain customers. Cost-plus arrangements provide the Company reimbursement of the cost to purchase and process the tobacco, plus a contractually agreed-upon profit margin. The Company utilizes the most likely amount methodology under the accounting guidance to recognize revenue for cost-plus arrangements with customers. Shipping and handling costs under tobacco sales contracts with customers are treated as fulfillment costs and included in the transaction price. Under agreements with certain customers, the Company will act as the importer of record, incurring various additional costs associated with the import activity, including tariffs, and applying for drawback of those costs when possible. When the agreement with the customer provides for the reimbursement of those fees, the reimbursement is included in the transaction price. Taxes assessed by government authorities on the sale of leaf tobacco products are excluded from the transaction price. At the point in time that the customer obtains control over the tobacco, which is typically aligned with physical shipment under the contractual terms with the customer, the Company completes its performance obligation and recognizes the revenue for the sale.
Ingredient Sales
The Company has diversified operations through acquisition of established companies that offer customers a wide range of both liquid and dehydrated fruit and vegetable ingredient products, flavors, and botanical extracts. These operations procure raw materials from domestic and international growers and suppliers and through a variety of processing steps including sorting, cleaning, pressing, mixing, extracting, and blending to manufacture finished goods utilized in both human and pet food. The contracts for food ingredients with customers create a performance obligation to transfer the manufactured finished goods to the customer. Transaction prices for the sale of food ingredients are primarily based on negotiated fixed prices, but the Company does have cost-plus contracts with certain customers. The Company utilizes the most likely amount methodology under the accounting guidance to recognize revenue for cost-plus arrangements with customers. At the point in time that the customer obtains control over the finished product, which is typically aligned with physical shipment under the contractual terms with the customer, the Company completes its performance obligation and recognizes the revenue for the sale.
Processing Revenue
Processing and packing of customer-owned tobacco and ingredients is a short-duration process. Processing charges are primarily based on negotiated fixed prices per unit of weight processed. Under normal operating conditions, customer-owned raw materials that are placed into the production line exits as processed and packed product and is then later transported to customer-designated transfer locations. The revenue for these services is recognized when the performance obligation is satisfied, which is generally when processing is completed. The Company’s operating history and contract analyses indicate that customer requirements for processed tobacco and food ingredients products are consistently met upon completion of processing.
Other Sales and Revenue from Contracts with Customers
From time to time, the Company enters into various arrangements with customers to provide other value-added services that may include blending, chemical and physical testing of products, storage, logistics, sorting, and tobacco cutting services for select manufacturers. These other arrangements and operations are a much smaller portion of the Company’s business, and are separate and distinct contractual agreements from the Company’s tobacco and food ingredients sales or third-party processing arrangements with customers. The transaction prices and timing of revenue recognition of these items are determined by the specifics of each contract.
Disaggregation of Revenue from Contracts with Customers
The following table disaggregates the Company’s revenue by significant revenue-generating category:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands of dollars)2025202420252024
Tobacco sales$719,882 $811,743 $1,800,368 $1,901,564 
Ingredient sales77,891 78,705 251,671 235,942 
Processing revenue36,717 21,128 91,449 49,877 
Other sales and revenue from contracts with customers18,665 16,405 51,736 45,369 
   Total revenue from contracts with customers853,155 927,981 2,195,224 2,232,752 
Other operating sales and revenues8,133 9,212 14,003 12,253 
   Consolidated sales and other operating revenues$861,288 $937,193 $2,209,227 $2,245,005 
Other operating sales and revenue consists principally of interest on advances to tobacco suppliers and dividend income from unconsolidated affiliates.
v3.25.4
Other Contingent Liabilities And Other Matters
 9 Months Ended
Dec. 31, 2025
Other Contingent Liabilities And Other Matters [Abstract]  
Other Contingent Liabilities And Other Matters OTHER CONTINGENT LIABILITIES AND OTHER MATTERS
Other Contingent Liabilities
Other Contingent Liabilities (Letters of credit)
The Company had other contingent liabilities totaling approximately $1 million at December 31, 2025, primarily related to outstanding letters of credit.
Value-Added Tax Assessments in Brazil
The Company’s local operating subsidiaries pay significant amounts of value-added tax (“VAT”) in connection with their operations, which generate tax credits that they normally are entitled to recover through offset, refund, or sale to third parties. In Brazil, VAT is assessed at the state level when green tobacco is transferred between states. The Company’s Brazilian operating subsidiary pays VAT when tobaccos grown outside the state of Rio Grande do Sul are transferred to the factory for processing. The subsidiary received assessments for additional VAT plus interest and penalties from tax authorities for the state of Parana based on audits of the subsidiary’s VAT filings for specified periods. Management of the subsidiary and outside counsel challenged the Parana assessment claims. In July 2025, a final and indisputable favorable ruling was issued by the Brazilian National Treasury Attorney's office declaring the Parana assessment without merit, requiring the state to withdraw and cancel all claims made against the Company's Brazilian operating subsidiary.
Other Legal and Tax Matters
Various subsidiaries of the Company are involved in litigation and tax examinations incidental to their business activities. While the outcome of these matters cannot be predicted with certainty, management is vigorously defending the matters and does not currently expect that any of them will have a material adverse effect on the Company’s business, results of operations, or financial position. However, should one or more of these matters be resolved in a manner adverse to management’s current expectation, the effect on the Company’s results of operations for a particular fiscal reporting period could be material.
Advances to Suppliers
In many sourcing regions where the Company operates, it provides agronomy services and seasonal advances of seed, seedlings, fertilizer, and other supplies to tobacco farmers for crop production, or makes seasonal cash advances to farmers for the procurement of those inputs. These advances are short term, are repaid upon delivery of tobacco to the Company, and are reported in advances to suppliers in the consolidated balance sheets. In several regions, the Company has made long-term advances to tobacco farmers to finance curing barns and other farm infrastructure. In some years, due to low crop yields and other factors, individual farmers may not deliver sufficient volumes of tobacco to fully repay their seasonal advances, and the Company may extend repayment of those advances into future crop years. The long-term portion of advances is included in other noncurrent assets in the consolidated balance sheets. Both the current and the long-term portions of advances to suppliers are reported net of allowances recorded when the Company determines that amounts outstanding are not likely to be collected. Short-term and long-term advances to suppliers totaled $180 million at December 31, 2025, $172 million at December 31, 2024, and $189 million at March 31, 2025. The related valuation allowances totaled $11 million at December 31, 2025, $15 million at December 31, 2024, and $18 million at March 31, 2025, and were estimated based on the Company’s historical loss information and crop projections. The allowances were increased by net provisions of $1.7 million in the nine-month period ended December 31, 2025 and
decreased by net recoveries of $0.4 million in the nine-month period December 31, 2024. These net recoveries and provisions are included in selling, general, and administrative expenses in the consolidated statements of income. Interest on advances is recognized in earnings upon the farmers’ delivery of tobacco in payment of principal and interest.
Recoverable Value-Added Tax Credits
In many foreign countries, the Company’s local operating subsidiaries pay significant amounts of VAT on purchases of unprocessed and processed tobacco, crop inputs, packing materials, and various other goods and services. In some countries, VAT is a national tax, and in other countries it is assessed at the state level. Items subject to VAT vary from jurisdiction to jurisdiction, as do the rates at which the tax is assessed. When tobacco is sold to customers in the country of origin, the operating subsidiaries generally collect VAT on those sales. The subsidiaries are normally permitted to offset their VAT payments against the collections and remit only the incremental VAT collections to the tax authorities. When tobacco is sold for export, VAT is normally not assessed. In countries where tobacco sales are predominately for export markets, VAT collections generated on downstream sales are often not sufficient to fully offset the subsidiaries’ VAT payments. In those situations, unused VAT credits can accumulate. Some jurisdictions have procedures that allow companies to apply for refunds of unused VAT credits from the tax authorities, but the refund process often takes an extended period of time and it is not uncommon for refund applications to be challenged or rejected in part on technical grounds. Other jurisdictions may permit companies to sell or transfer unused VAT credits to third parties in private transactions, although approval for such transactions must normally be obtained from the tax authorities, limits on the amounts that can be transferred may be imposed, and the proceeds realized may be heavily discounted from the face value of the credits. Due to these factors, local operating subsidiaries in some countries can accumulate significant balances of VAT credits over time. The Company reviews these balances on a regular basis and records valuation allowances on the credits to reflect amounts that are not expected to be recovered, as well as discounts anticipated on credits that are expected to be sold or transferred. At December 31, 2025, the aggregate balance of recoverable tax credits held by the Company’s subsidiaries totaled approximately $66 million ($62 million at December 31, 2024 and $64 million at March 31, 2025). The related valuation allowances totaled approximately $22 million at December 31, 2025 and $21 million at December 31, 2024 and March 31, 2025. The net balances are reported in other current assets and other noncurrent assets in the consolidated balance sheets.
Stock Repurchase Program
On November 7, 2024, the Company's Board of Directors approved a stock repurchase program for the purchase of up to $100 million in common stock in open market or privately negotiated transactions at prices not exceeding prevailing market rates through November 15, 2026, subject to market conditions and other factors. The program had $100 million of remaining capacity for repurchases of common stock at December 31, 2025.
Trade Receivable Sales
During fiscal year 2026, the Company entered into an agreement to sell certain trade receivables, at its discretion, to a third-party financial institution at a discount. The transactions have no recourse and qualify as a true sale, meaning upon receipt of the settlement amount, the associated receivable is removed from the balance sheet and the discount is recognized as an expense in selling, general, and administrative expense on the consolidated statements of income. During the three and nine months ended December 31, 2025, the Company sold $78.6 million and $120.6 million of receivables and recorded discounts of $0.5 million and $0.9, respectively.
New Bank Credit Agreement
    On December 9, 2025, the Company entered into a new bank credit agreement that replaced its then existing bank credit agreement dated December 15, 2022. In addition to extending the maturity dates of the underlying components of the facility, the new agreement includes a $780 million five-year revolving credit facility (expiring December 9, 2030), a $275 million five-year term loan (due December 9, 2030), and a $345 million seven-year term loan (due December 9, 2032). At closing, the Company had a balance of $285 million outstanding under the revolving credit facility. Both term loans were fully funded at closing, require no amortization, and are prepayable without penalty prior to maturity. The new facility may be expanded to allow for additional borrowings of up to $300 million under certain conditions. Borrowings under the revolving credit facility and the two term loans bear interest at a variable rate benchmarked to the Secured Overnight Financing Rate ("SOFR") plus a margin based on the Company’s credit measures. The new credit agreement contains financial covenants that require the Company to maintain certain levels of tangible net worth and leverage. Those covenants are substantially the same as the covenants in the prior bank credit agreement, and the Company was in compliance with the covenants at December 31, 2025.
During the three months ended December 31, 2025, the Company entered into two new receive-floating / pay-fixed interest rate swap agreements, hedging the variable interest payments on half of the principal value of each of the new term loans. The swap agreements convert the variable benchmark rate to a fixed rate through December 9, 2030 for the five-year term loan, and through December 9, 2032 for the seven-year term loan. With the swap agreements in place, the effective interest rates on the hedged portions of the $275 million five-year term loan and the $345 seven-year term loan were 5.47% and 6.13%, respectively,
at December 31, 2025. Prior to the maturity of the swap agreements, those effective interest rates will change only if a change in the Company’s credit measures results in adjustments to the applicable credit spreads specified in the underlying loan agreement.
    Compared to the prior credit agreement, there were only limited changes among the individual bank lenders participating in the new agreement. Accordingly, under the applicable accounting guidance, a significant portion of the transaction was accounted for as a debt modification rather than a debt extinguishment. As a result, only an immaterial amount of the unamortized debt issuance costs related to the prior credit agreement were charged to interest expense. The remainder of those costs remained capitalized on the Company's consolidated balance sheet and will be amortized over the term of the new credit agreement. Similarly, in the consolidated statement of cash flows, rather than presenting issuance of the entire $620 million of new term loans and repayment of $620 million of prior term loans, the amounts presented for the issuance and repayment of long-term debt reflect only the changes in the underlying principal positions among the participating bank lenders.
v3.25.4
Earnings Per Share
 9 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
    The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands, except share and per share data)2025202420252024
Basic Earnings (Loss) Per Share
Numerator for basic earnings (loss) per share
Net income (loss) attributable to Universal Corporation$33,249 $59,639 $75,915 $85,709 
Denominator for basic earnings (loss) per share
Weighted average shares outstanding25,056,517 24,980,792 25,030,798 24,934,786 
Basic earnings (loss) per share$1.33 $2.39 $3.03 $3.44 
Diluted Earnings (Loss) Per Share
Numerator for diluted earnings (loss) per share
Net income (loss) attributable to Universal Corporation$33,249 $59,639 $75,915 $85,709 
Denominator for diluted earnings (loss) per share:
Weighted average shares outstanding25,056,517 24,980,792 25,030,798 24,934,786 
Effect of dilutive securities
Employee and outside director share-based awards132,359 161,875 136,027 180,367 
Denominator for diluted earnings (loss) per share25,188,876 25,142,667 25,166,825 25,115,153 
Diluted earnings (loss) per share$1.32 $2.37 $3.02 $3.41 
v3.25.4
Income Taxes
 9 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
    The Company operates in the United States and many foreign countries and is subject to the tax laws of many jurisdictions. Changes in tax laws, including modifications to dividend withholding tax laws, or the interpretation of tax laws can affect the Company’s earnings, as can the resolution of pending and contested tax issues. The Company's consolidated effective income tax rate is affected by various factors, including the mix and timing of domestic and foreign earnings, discrete items, and the effect of exchange rate changes on taxes.
Numerous countries in which Company operates have enacted or are in the process of enacting legislation to adopt a global minimum effective tax rate described in the Global Anti-Base Erosion framework rules, or Pillar Two, issued by the Organization for Economic Co-operation and Development (“OECD”). The Pillar Two legislation includes establishing a 15% global minimum tax rate on a country-by-country basis and was effective for the Company's fiscal year 2025. The Company performed an assessment of the potential impact on income taxes from enactment of the Pillar Two legislation. Based on the assessment, the Company did not have a material impact to the consolidated financial statements from the Pillar Two legislation in fiscal year 2026.
On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”), (Public Law 119-21), was signed into law. The Company is still evaluating the potential impacts of the OBBBA; however, the Company does not anticipate it will have a material impact on the Company’s financial statements.
Three and nine months ended December 31, 2025
The Company's consolidated effective income tax rates for the three and nine months ended December 31, 2025 was 37.8% and 31.6%, respectively. The effective tax rate for the three and nine months ended December 31, 2025 was unfavorably impacted from a new 10% withholding tax law in Brazil on dividends paid to nonresident shareholders.
Three and nine months ended December 31, 2024
    The Company's consolidated effective income tax rates for the three and nine months ended December 31, 2024 was 23.0% and 25.9%, respectively.
v3.25.4
Goodwill and Other Intangibles Goodwill and Other Intangibles
 9 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block] GOODWILL AND OTHER INTANGIBLES
The Company's changes in goodwill at December 31, 2025 and 2024 consisted of the following:
(in thousands of dollars)Nine Months Ended December 31,
20252024
Balance at beginning of fiscal year$213,840 $213,869 
Foreign currency translation adjustment
(42)(50)
Balance at end of period$213,798 $213,819 
The Company's intangible assets primarily consist of capitalized customer-related intangibles, trade names, proprietary developed technology and noncompetition agreements. The Company's intangible assets subject to amortization consisted of the following at December 31, 2025 and 2024 and at March 31, 2025:
(in thousands, except useful life)December 31, 2025
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$86,500 $(38,953)$47,547 
Trade names511,100 (11,100)— 
Developed technology139,300 (6,271)3,029 
Noncompetition agreements44,000 (4,000)— 
Other5712 (653)59 
Total intangible assets$111,612 $(60,977)$50,635 
December 31, 2024
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$86,500 $(31,222)$55,278 
Trade names511,100 (9,930)1,170 
Developed technology139,300 (5,925)3,375 
Noncompetition agreements4—54,000 (3,437)563 
Other5772 (714)58 
Total intangible assets$111,672 $(51,228)$60,444 
March 31, 2025
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$86,500 $(33,155)$53,345 
Trade names511,100 (10,320)780 
Developed technology139,300 (6,012)3,288 
Noncompetition agreements4—54,000 (3,625)375 
Other5802 (754)48 
Total intangible assets$111,702 $(53,866)$57,836 
Intangible assets are amortized on a straight-line basis over the asset's estimated useful economic life, as noted above.
The Company's amortization expense for intangible assets for the three and nine months ended December 31, 2025 and 2024 was:
(in thousands of dollars)Three Months Ended December 31,Nine Months Ended December 31,
2025202420252024
Amortization Expense$1,847 $2,765 $7,111 $8,429 
Amortization expense for the developed technology intangible asset is recorded in cost of goods sold in the consolidated statements of income. The amortization expense for other intangible assets is recorded in selling, general, and administrative expenses in the consolidated statements of income.
As of December 31, 2025, the expected future amortization expense for intangible assets was as follows:
Fiscal Year (in thousands of dollars)
2026 (excluding the nine months ended December 31, 2025)
$2,031 
20278,124 
20288,077 
20297,494 
2030 and thereafter24,909 
Total expected future amortization expense$50,635 
v3.25.4
Derivatives And Hedging Activities
 9 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives And Hedging Activities DERIVATIVES AND HEDGING ACTIVITIES
Universal is exposed to various risks in its worldwide operations and uses derivative financial instruments to manage two specific types of risks – interest rate risk and foreign currency exchange rate risk. Interest rate risk has been managed by entering into interest rate swap agreements, and foreign currency exchange rate risk has been managed by entering into forward and option foreign currency exchange contracts. However, the Company’s policy also permits other types of derivative instruments. In addition, foreign currency exchange rate risk is also managed through strategies that do not involve derivative instruments, such as using local borrowings and other approaches to minimize net monetary positions in non-functional currencies. The disclosures below provide additional information about the Company’s hedging strategies, the derivative instruments used, and the effects of these activities on the consolidated statements of income and comprehensive income and the consolidated balance sheets. In the consolidated statements of cash flows, the cash flows associated with all of these activities are reported in net cash provided (used) by operating activities.
Cash Flow Hedging Strategy for Interest Rate Risk
In December 2025, the Company entered into receive-floating/pay-fixed interest rate swap agreements that were designated and qualify as hedges of the exposure to changes in interest payment cash flows created by fluctuations in variable interest rates on two outstanding non-amortizing bank term loans that were funded as part of a new bank credit facility in December 2025 (see Note 4 for additional information). Although no significant ineffectiveness is expected with this hedging strategy, the effectiveness of the interest rate swaps is evaluated on a quarterly basis. At December 31, 2025, the total notional amount of the interest rate swaps was $310 million, which corresponded to a portion of the aggregate outstanding balance of the term loans.
Previously, the Company entered into receive-floating/pay-fixed interest rate swap agreements in December 2022 that were designated and qualified as cash flow hedges for two non-amortizing bank loans that were repaid concurrent with the entry into the Company's new bank credit facility in December 2025. Those swap agreements, which had an aggregate notional amount of $310 million, corresponding to a portion of the principal balance on the repaid loans, were terminated concurrent with the inception of the new swap agreements. The fair value of the previous swap agreements, approximately $1.0 million, was paid to the counterparties in December 2025 upon termination and is being amortized from accumulated other comprehensive loss into earnings as interest expense through the original maturity dates of those agreements.
Cash Flow Hedging Strategy for Foreign Currency Exchange Rate Risk Related to Sales of Crop Inputs, Forecast Purchases of Tobacco, and Related Processing Costs
The majority of the tobacco production in most countries outside the United States where Universal operates is sold in export markets at prices denominated in U.S. dollars. However, sales of crop inputs (such as seeds and fertilizers) to farmers, purchases of tobacco from farmers, and most processing costs (such as labor and energy) in those countries are usually denominated in the local currency. Changes in exchange rates between the U.S. dollar and the local currencies where tobacco is grown and processed affect the ultimate U.S. dollar sales of crop inputs and cost of processed tobacco. From time to time, the Company enters into forward and option contracts to buy U.S. dollars and sell the local currency at future dates that coincide with the sale of crop inputs to farmers. In the case of forecast purchases of tobacco and the related processing costs, the Company enters into forward and option contracts to sell U.S. dollars and buy the local currency at future dates that coincide with the expected timing of a portion of the tobacco purchases and processing costs. These strategies offset the variability of future U.S. dollar cash flows for sales of crop inputs, tobacco purchases, and processing costs for the foreign currency notional amount hedged. These hedging strategies have been used mainly for tobacco purchases, processing costs, and sales of crop inputs in Brazil. Additionally, the Company from time to time hedges a portion of the forecasted local currency-denominated operating costs in Brazil and Mexico by entering into derivative contracts to buy the local currencies and sell the U.S. dollar.
The aggregate U.S. dollar notional amounts of forward and option contracts entered into for these purposes during the nine-month periods in fiscal years 2026 and 2025 was as follows:
Nine Months Ended December 31,
(in millions of dollars)20252024
Tobacco purchases$42.2 $101.4 
Processing costs8.3 15.7 
Operating costs21.9 28.9 
Total
$72.4 $146.0 
Fluctuations in exchange rates and in the amount and timing of fixed-price orders from customers for their purchases from individual crop years routinely cause variations in the U.S. dollar notional amount of forward contracts entered into from one year to the next. Contracts related to tobacco purchases and crop input sales were designated and qualified as hedges of the future cash flows associated with the forecast purchases of tobacco. As a result, changes in fair values of the forward contracts have been recognized in comprehensive income as they occurred, but only recognized in earnings as a component of cost of goods sold upon sale of the related tobacco to third-party customers. The Company de-designates ineffective tobacco purchases and crop input sales hedges to selling, general, and administrative expense when the forecasted tobacco purchases or crop input sales are no longer expected to occur.
The table below presents the expected timing of when the remaining accumulated other comprehensive gains and losses as of December 31, 2025 for cash flows hedges of tobacco purchases and crop input sales are expected to be recognized in earnings.
Hedging ProgramCrop YearGeographic Location(s)Fiscal Year Earnings
Tobacco purchases2026Brazil2027
Crop input sales2026Brazil2027
Forward contracts related to processing and operating costs have not been designated as hedges, and gains and losses on those contracts have been recognized in earnings on a mark-to-market basis.
Hedging Strategy for Foreign Currency Exchange Rate Risk Related to Net Local Currency Monetary Assets and Liabilities of Foreign Subsidiaries
Most of the Company’s foreign subsidiaries transact the majority of their sales in U.S. dollars and finance the majority of their operating requirements with U.S. dollar borrowings, and therefore use the U.S. dollar as their functional currency. These
subsidiaries normally have certain monetary assets and liabilities on their balance sheets that are denominated in the local currency. Those assets and liabilities can include cash and cash equivalents, accounts receivable and accounts payable, advances to farmers and suppliers, deferred income tax assets and liabilities, recoverable value-added taxes, operating lease liabilities, and other items. Net monetary assets and liabilities denominated in the local currency are remeasured into U.S. dollars each reporting period, generating gains and losses that the Company records in earnings as a component of selling, general, and administrative expenses. The level of net monetary assets or liabilities denominated in the local currency normally fluctuates throughout the year based on the operating cycle, but it is most common for monetary assets to exceed monetary liabilities, sometimes by a significant amount. When this situation exists and the local currency weakens against the U.S. dollar, remeasurement losses are generated. Conversely, remeasurement gains are generated on a net monetary asset position when the local currency strengthens against the U.S. dollar. To manage a portion of its exposure to currency remeasurement gains and losses, the Company enters into forward contracts to buy or sell the local currency at future dates coinciding with expected changes in the overall net local currency monetary asset position of the subsidiary. Gains and losses on the forward contracts are recorded in earnings as a component of selling, general, and administrative expenses for each reporting period as they occur, and thus directly offset the related remeasurement losses or gains in the consolidated statements of income for the notional amount hedged. The Company does not designate these contracts as hedges for accounting purposes. The contracts are generally arranged to hedge the subsidiary's projected exposure to currency remeasurement risk for specified periods of time, and new contracts are entered as necessary throughout the year to replace previous contracts as they mature. The Company is currently using forward currency contracts to manage its exposure to currency remeasurement risk in Brazil. The total notional amounts of contracts outstanding at December 31, 2025 and 2024, and March 31, 2025, were approximately $64.4 million, $66.7 million, and $17.7 million, respectively. To further mitigate currency remeasurement exposure, the Company’s foreign subsidiaries may utilize short-term local currency financing during certain periods. This strategy, while not involving the use of derivative instruments, is intended to minimize the subsidiary’s net monetary position by financing a portion of the local currency monetary assets with local currency monetary liabilities, thus hedging a portion of the overall position.
Several of the Company’s foreign subsidiaries transact the majority of their sales and finance the majority of their operating requirements in their local currency, and therefore use their respective local currencies as the functional currency for reporting purposes. From time to time, these subsidiaries sell tobacco to customers in transactions that are not denominated in the functional currency. In those situations, the subsidiaries routinely enter into forward exchange contracts to offset currency risk for the period of time that a fixed-price order and the related trade account receivable are outstanding with the customer. The contracts are not designated as hedges for accounting purposes.
Effect of Derivative Financial Instruments on the Consolidated Statements of Income
The table below outlines the effects of the Company’s use of derivative financial instruments on the consolidated statements of income:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands of dollars)2025202420252024
Cash Flow Hedges - Interest Rate Swap Agreements
Derivative
Effective Portion of Hedge
Gain (loss) recorded in accumulated other comprehensive loss$(771)$9,936 $(2,191)$3,590 
Gain (loss) reclassified from accumulated other comprehensive loss into earnings
$453 $997 $1,851 $3,986 
Gain on terminated interest rate swaps amortized from accumulated other comprehensive loss into earnings
$688 $688 $2,065 $2,065 
Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings
Interest expense
Ineffective Portion of Hedge
Gain (loss) recognized in earnings$— $— $— $— 
Location of gain (loss) recognized in earningsSelling, general and administrative expenses
Hedged Item
Description of hedged itemFloating rate interest payments on term loans
Cash Flow Hedges - Foreign Currency Exchange Contracts
Derivative
Effective Portion of Hedge
Gain (loss) recorded in accumulated other comprehensive loss$(18)$(10,217)$1,085 $(12,769)
Gain (loss) reclassified from accumulated other comprehensive loss into earnings
$(942)$(142)$(3,519)$462 
Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings
Cost of goods sold
Ineffective Portion and Early De-designation of Hedges
Gain (loss) recognized in earnings$— $— $— $— 
Location of gain (loss) recognized in earningsSelling, general and administrative expenses
Hedged Item
Description of hedged item
 Forecast purchases of tobacco and sales of crop inputs in Brazil
Derivatives Not Designated as Hedges - Foreign Currency Exchange Contracts
Gain (loss) recognized in earnings$758 $1,127 $432 $538 
Location of gain (loss) recognized in earningsSelling, general and administrative expenses
For the interest rate swap agreements, the effective portion of the gain or loss on the derivative is recorded in accumulated other comprehensive loss and any ineffective portion is recorded in selling, general and administrative expenses.
For the forward foreign currency exchange contracts designated as cash flow hedges of tobacco purchases and the crop input sales in Brazil, a net hedge loss of approximately $1.4 million remained in accumulated other comprehensive loss at December 31, 2025. That balance reflects gains and losses on contracts related to the 2026 Brazil crop, and the 2026 Brazil crop input sales, less the amounts reclassified to earnings related to tobacco sold through December 31, 2025. Based on the hedging strategy, as the gain or loss is recognized in earnings, it is expected to be offset by a change in the direct cost for the tobacco or by
a change in sales prices if the strategy has been mandated by the customer. Generally, margins on the sale of the tobacco will not be significantly affected.
Effect of Derivative Financial Instruments on the Consolidated Balance Sheets
The table below outlines the effects of the Company’s derivative financial instruments on the consolidated balance sheets at December 31, 2025 and 2024, and March 31, 2025:
Derivatives in a Fair Value Asset PositionDerivatives in a Fair Value Liability Position
Balance
Sheet
Location		Fair Value as ofBalance
Sheet
Location		Fair Value as of
(in thousands of dollars)December 31, 2025December 31, 2024March 31, 2025December 31, 2025December 31, 2024March 31, 2025
Derivatives Designated as Hedging Instruments
Interest rate swap agreements Other
non-current
assets		$— $6,310 $1,783 Other
long-term
liabilities		$1,271 $— $— 
Foreign currency exchange contractsOther
current
assets		206 — 11 Accounts
payable and
accrued
expenses		— 13,843 5,228 
Total$206 $6,310 $1,794 $1,271 $13,843 $5,228 
Derivatives Not Designated as Hedging Instruments
Foreign currency exchange contractsOther
current
assets		$1,010 $628 $291 Accounts
payable and
accrued
expenses		$185 $3,392 $1,440 
Total$1,010 $628 $291 $185 $3,392 $1,440 
Substantially all of the Company's foreign exchange derivative instruments are subject to master netting arrangements whereby the right to offset occurs in the event of default by a participating party. The Company has elected to present these contracts on a gross basis in the consolidated balance sheets.
v3.25.4
Fair Value Measurements
 9 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Universal measures certain financial and nonfinancial assets and liabilities at fair value based on applicable accounting guidance. The financial assets and liabilities measured at fair value include money market funds, trading securities associated with deferred compensation plans, interest rate swap agreements, and forward foreign currency exchange contracts. The application of the fair value guidance to nonfinancial assets and liabilities primarily includes the determination of fair values for goodwill and long-lived assets when indicators of potential impairment are present.
    Under the accounting guidance, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The framework for measuring fair value is based on a fair value hierarchy that distinguishes between observable inputs and unobservable inputs. Observable inputs are based on market data obtained from independent sources. Unobservable inputs require the Company to make its own assumptions about the value placed on an asset or liability by market participants because little or no market data exists.
There are three levels within the fair value hierarchy:
LevelDescription
1quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date;
2quoted prices in active markets for similar assets or liabilities, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability; and
3unobservable inputs for the asset or liability.
    As permitted under the accounting guidance, the Company uses net asset value per share ("NAV") as a practical expedient to measure the fair value of its money market funds. The fair values for those funds are presented under the heading "NAV" in the tables that follow in this disclosure. In measuring the fair value of liabilities, the Company considers the risk of
non-performance in determining fair value. Universal has not elected to report at fair value any financial instruments or any other assets or liabilities that are not required to be reported at fair value under current accounting guidance.
Recurring Fair Value Measurements
At December 31, 2025 and 2024, and at March 31, 2025, the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy or the NAV practical expedient:
December 31, 2025
Fair Value Hierarchy
(in thousands of dollars)NAVLevel 1Level 2Level 3Total
Assets
Money market funds
$149 $— $— $— $149 
Trading securities associated with deferred compensation plans
— 12,191 — — 12,191 
Foreign currency exchange contracts
— — 1,216 — 1,216 
Total financial assets measured and reported at fair value
$149 $12,191 $1,216 $— $13,556 
Liabilities
Interest rate swap agreements
$— $— $1,271 $— $1,271 
Foreign currency exchange contracts
— — 185 — 185 
Total financial liabilities measured and reported at fair value
$— $— $1,456 $— $1,456 
December 31, 2024
Fair Value Hierarchy
(in thousands of dollars)NAVLevel 1Level 2Level 3Total
Assets
Money market funds
$149 $— $— $— $149 
Trading securities associated with deferred compensation plans
— 11,930 — — 11,930 
Interest rate swap agreements
— — 6,310 — 6,310 
Foreign currency exchange contracts
— — 628 — 628 
Total financial assets measured and reported at fair value
$149 $11,930 $6,938 $— $19,017 
Liabilities
Foreign currency exchange contracts
$— $— $17,235 $— $17,235 
Total financial liabilities measured and reported at fair value
$— $— $17,235 $— $17,235 
March 31, 2025
Fair Value Hierarchy
(in thousands of dollars)NAVLevel 1Level 2Level 3Total
Assets
Money market funds
$149 $— $— $— $149 
Trading securities associated with deferred compensation plans
— 11,313 — — 11,313 
Interest rate swap agreements
— — 1,783 — 1,783 
Foreign currency exchange contracts
— — 302 — 302 
Total financial assets measured and reported at fair value
$149 $11,313 $2,085 $— $13,547 
Liabilities
Foreign currency exchange contracts
$— $— $6,668 $— $6,668 
Total financial liabilities measured and reported at fair value
$— $— $6,668 $— $6,668 
Money market funds
The fair value of money market funds, which are reported in cash and cash equivalents in the consolidated balance sheets, is based on NAV, which is the amount at which the funds are redeemable and is used as a practical expedient for fair value. These funds are not classified in the fair value hierarchy, but are disclosed as part of the fair value table above.
Trading securities associated with deferred compensation plans
Trading securities represent mutual fund investments that are matched to employee deferred compensation obligations. These investments are bought and sold as employees defer compensation, receive distributions, or make changes in the funds underlying their accounts. Quoted market prices (Level 1) are used to determine the fair values of the mutual funds.
Interest rate swap agreements
The fair values of interest rate swap agreements are determined based on dealer quotes using a discounted cash flow model matched to the contractual terms of each instrument. Since inputs to the model are observable and significant judgment is not required in determining the fair values, interest rate swaps are classified within Level 2 of the fair value hierarchy.
Foreign currency exchange contracts
The fair values of forward and option foreign currency exchange contracts are also determined based on dealer quotes using a discounted cash flow model matched to the contractual terms of each instrument. Since inputs to the model are observable and significant judgment is not required in determining the fair values, forward and option foreign currency exchange contracts are classified within Level 2 of the fair value hierarchy.
Long-term Debt
The following table summarizes the fair and carrying value of the Company’s long-term debt, and if applicable any current portion, at each of the balance sheet dates December 31, 2025, and 2024 and March 31, 2025:
(in millions of dollars)December 31, 2025December 31, 2024March 31, 2025
Fair market value of long term obligations$615 $618 $616 
Carrying value of long term obligations$620 $620 $620 
The Company estimates the fair value of its long-term debt using Level 2 inputs which are based upon quoted market prices for the same or similar obligations or on calculations that are based on the current interest rates available to the Company for debt of similar terms and maturities.
Nonrecurring Fair Value Measurements
    Assets and liabilities that are measured at fair value on a nonrecurring basis primarily relate to long-lived assets, right-of-use operating lease assets and liabilities, goodwill and intangibles, and other current and noncurrent assets. These assets and liabilities fair values are also evaluated for impairment when potential indicators of impairment exist. Accordingly, the nonrecurring measurement of the fair value of these assets and liabilities are classified within Level 3 of the fair value hierarchy.
Long-Lived Assets
The Company reviews long-lived assets for impairment whenever events, changes in business conditions, or other circumstances provide an indication that such assets may be impaired.
Consolidation of tobacco sheet operations
As discussed in Note 2, the Company initiated a plan to consolidate the European Sheet tobacco operations into the Company's facility in the Netherlands. The Company is in the process of winding down its operations in Germany, that resulted in an impairment charge of $4.9 million for the long-lived assets in fiscal year 2025, to reduce their carrying value to fair value. The long-lived assets primarily consist of a processing facility, machinery and equipment, and administrative offices. After reassessing the fair value of the long-lived assets associated with the operations in Germany, an additional $1.0 million impairment charge was recognized during three-month period ended June 30, 2025
v3.25.4
Pension And Other Postretirement Benefit Plans
 9 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Disclosure PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
The Company sponsors several defined benefit pension plans covering eligible U.S. salaried employees and certain foreign and other employee groups. These plans provide retirement benefits based primarily on employee compensation and years of service. The Company also sponsors defined benefit plans that provide postretirement health and life insurance benefits for eligible U.S. employees attaining specific age and service levels, although postretirement life insurance is no longer provided for active employees.
The components of the Company’s net periodic benefit cost were as follows:
Pension BenefitsOther Postretirement Benefits
Three Months Ended December 31,Three Months Ended December 31,
(in thousands of dollars)2025202420252024
Service cost$1,260 $1,315 $18 $22 
Interest cost2,261 2,875 266 259 
Expected return on plan assets(3,026)(3,606)(10)(13)
Net amortization and deferral84 174 (159)(157)
Net periodic benefit cost
$579 $758 $115 $111 
Pension BenefitsOther Postretirement Benefits
Nine Months Ended December 31,Nine Months Ended December 31,
(in thousands of dollars)2025202420252024
Service cost$3,771 $3,956 $52 $69 
Interest cost6,796 8,629 794 794 
Expected return on plan assets(9,080)(10,820)(32)(41)
Net amortization and deferral250 522 (480)(477)
Net periodic benefit cost
$1,737 $2,287 $334 $345 
During the nine months ended December 31, 2025, the Company made contributions of approximately $10.5 million to its pension plans. Additional contributions of $1.0 million are expected during the remaining three months of fiscal year 2026.
v3.25.4
Stock-Based Compensation
 9 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Stock-Based Compensation STOCK-BASED COMPENSATION
The Company's shareholders approved the Universal Corporation 2023 Stock Incentive Plan (“Plan”) under which officers, directors, and employees of the Company may receive grants and awards of common stock, restricted stock, restricted stock units (“RSUs”), performance share units (“PSUs”), stock appreciation rights, incentive stock options, and non-qualified stock options. With the exception of new hires and promotions, the Company’s practice is to award grants of stock-based compensation to officers on an annual basis at the first regularly-scheduled meeting of the Compensation Committee of the Board of Directors (the “Compensation Committee”) in the fiscal year following the public release of the Company’s financial results for the prior fiscal year. The Compensation Committee administers the Plan consistently, following previously defined guidelines.
In recent years, the Compensation Committee has awarded only grants of RSUs and PSUs. Awards of restricted stock, RSUs, and PSUs are currently outstanding.
RSUs awarded to officers and employees generally vest 3 years after the grant date. After vesting RSUs are paid out in shares of common stock. Under the terms of the RSU awards, grantees receive dividend equivalents in the form of additional RSUs that vest and are paid out on the same date as the original RSU grant. The PSUs vest at the end of a performance period of 3 years that begins with the year of the grant, are paid out in shares of common stock shortly after the vesting date, and do not carry rights to dividends or dividend equivalents prior to vesting. Shares ultimately paid out under PSU grants are dependent on the achievement of predetermined performance measures established by the Compensation Committee and can range from zero to 150% of the stated award. The Company’s outside directors receive RSUs following the annual meeting of shareholders. RSUs awarded to outside directors vest 1 year after the grant date. Restricted shares vest upon the individual’s retirement from service as a director.
During the nine-month periods ended December 31, 2025 and 2024, the Company issued the following stock-based awards, representing the regular annual grants to officers and outside directors of the Company:
Nine Months Ended December 31,
20252024
RSUs:
Number granted116,360 134,360 
Grant date fair value$62.61 $49.08 
PSUs:
Number granted51,215 62,085 
Grant date fair value$55.89 $38.23 
Fair value expense for stock-based compensation is recognized ratably over the period from grant date to the earlier of (1) the vesting date of the award or (2) the date the grantee is eligible to retire without forfeiting the award. For employees who are already eligible to retire at the date an award is granted, the total fair value of the award is recognized as expense at the date of grant. The Company accounts for forfeitures of stock-based awards as they occur. For the nine-month periods ended December 31, 2025 and 2024, the Company recorded total stock-based compensation expense of approximately $9.9 million and $7.5 million, respectively. The Company expects to recognize stock-based compensation expense of approximately $0.7 million during the remaining three months of fiscal year 2026.
v3.25.4
Operating Segments
 9 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Operating Segments OPERATING SEGMENTS
Management regularly evaluates the Company’s global business activities, including product and service offerings to its customers, as well as senior management’s operational and financial responsibilities. Assessments include an analysis of how its Chief Operating Decision Maker (“CODM”) measures business performance and allocates resources. As a result of this analysis, senior management has determined the Company conducts operations across two reportable operating segments, Tobacco Operations and Ingredients Operations.
The Tobacco Operations segment activities involve contracting, procuring, processing, packing, storing, and shipping leaf tobacco for sale to, or for the account of, manufacturers of consumer tobacco products throughout the world. Through various operating subsidiaries located in tobacco-growing countries around the world and significant ownership interests in unconsolidated affiliates, the Company processes and/or sells flue-cured and burley tobaccos, dark air-cured tobaccos, and oriental tobaccos. Flue-cured, burley, and oriental tobaccos are used principally in the manufacture of cigarettes, and dark air-cured tobaccos are used mainly in the manufacture of cigars, pipe tobacco, and smokeless tobacco products. Some of these tobacco types are also used in the manufacture of next generation tobacco products that are intended to provide consumers with an alternative to traditional combustible products. The Tobacco Operations segment also provides physical and chemical product testing for tobacco customers. A substantial portion of the Company’s Tobacco Operations’ revenues are derived from sales to a limited number of large, multinational cigarette and cigar manufacturers.
The Ingredients Operations segment provides its customers with a broad variety of plant-based ingredients for both human and pet consumption. The Ingredients Operations segment utilizes a variety of value-added manufacturing processes converting raw materials into a wide spectrum of fruit and vegetable juices, concentrates, dehydrated products, botanical extracts, and flavorings. Customers for the Ingredients Operations segment include large multinational food and beverage companies, smaller independent manufacturers, and retail organizations. FruitSmart, Inc. (“FruitSmart”), Silva International, Inc. (“Silva”),
and Shank’s Extracts, LLC d/b/a Universal Ingredients–Shank’s (“Universal Ingredients–Shank’s”) are the primary operations for the Ingredients Operations segment. FruitSmart supplies a broad set of juices, concentrates, pomaces, purees, fruit fibers, seeds, seed powders, and other value-added products to food, beverage, and flavor companies throughout the United States and internationally. Silva procures dehydrated vegetables, fruits, and herbs from around the world and specializes in processing natural materials into custom designed dehydrated vegetable and fruit-based ingredients for a variety of end products. Universal Ingredients–Shank’s offers a diversified portfolio of botanical extracts, distillates, natural flavors, and color for industrial and private label customers worldwide, and is known for their significant vanilla expertise. Universal Ingredients–Shank’s is also equipped to offer customers custom bottling and packaging for their products.
Universal incurs corporate overhead expenses related to senior management, sales, finance, legal, and other functions that are centralized at its corporate headquarters, as well as functions performed at several sales and administrative offices around the world. These overhead expenses are currently allocated to the reportable operating segments, generally on the basis of projected annual financial and operational performance, including volumes planned to be purchased and/or processed. Management believes this method of allocation is currently representative of the value of the related services provided to the operating segments. The CODM, which has been identified as a group comprised of the Company’s Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, currently evaluates the performance of the operating segments based on operating income after allocated overhead expenses, plus equity in the pretax earnings of unconsolidated affiliates (“Segment Operating Income”). The CODM also uses Segment Operating Income for planning, forecasting, and allocating capital and other resources to the operating segments.
Reportable segment data as of, or for, each period presented in the consolidated statements of income and comprehensive income, the consolidated balance sheets, and the consolidated statements of cash flows is as follows:
Three Months Ended December 31, 2025Three Months Ended December 31, 2024
Tobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidated
Sales and other operating revenues$779,946 $81,342 $861,288 $853,884 $83,309 $937,193 
Cost of goods sold(634,173)(67,527)(701,700)(678,885)(64,720)(743,605)
Selling, general and administrative expenses(48,583)(11,218)(59,801)(58,178)(11,875)(70,053)
Corporate overhead allocated to the segments(14,403)(2,723)(17,126)(16,404)(3,055)(19,459)
Equity in pretax earnings (loss) of unconsolidated affiliates (1)
1,257 — 1,257 2,149 — 2,149 
Segment operating income84,044 (126)83,918 102,566 3,659 106,225 
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates (1)
(1,257)(2,149)
Restructuring and impairment costs (2)
(711)— 
Consolidated total$81,950 $104,076 
Nine Months Ended December 31, 2025Nine Months Ended December 31, 2024
Tobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidated
Sales and other operating revenues$1,944,065 $265,162 $2,209,227 $1,996,051 $248,954 $2,245,005 
Cost of goods sold(1,576,708)(218,974)(1,795,682)(1,616,797)(195,554)(1,812,351)
Selling, general and administrative expenses(133,394)(35,296)(168,690)(138,383)(36,527)(174,910)
Corporate overhead allocated to the segments(50,132)(9,478)(59,610)(48,164)(8,970)(57,134)
Equity in pretax earnings (loss) of unconsolidated affiliates(1)
1,131 — 1,131 1,647 — 1,647 
Segment operating income184,962 1,414 186,376 194,354 7,903 202,257 
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates(1)
(1,131)(1,647)
Restructuring and impairment costs (2)
(1,833)(10,573)
Consolidated operating income$183,412 $190,037 
(1)Equity in pretax earnings (loss) of unconsolidated affiliates is included in segment operating income (Tobacco Operations), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income and comprehensive income.
(2)Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income. See Note 2 for additional information.
Segment AssetsAccounts Receivable, net
December 31,
2025		December 31,
2024		March 31,
2025		December 31,
2025		December 31,
2024		March 31,
2025
Tobacco Operations$2,498,015 $2,517,063 $2,436,416 $517,732 $590,731 $566,755 
Ingredients Operations519,499 523,356 553,136 53,779 59,290 59,121 
Consolidated total$3,017,514 $3,040,419 $2,989,552 $571,511 $650,021 $625,876 
Goodwill, netIntangibles, net
December 31,
2025		December 31,
2024		March 31,
2025		December 31,
2025		December 31,
2024		March 31,
2025
Tobacco Operations$97,730 $97,751 $97,772 $59 $58 $47 
Ingredients Operations116,068 116,068 116,068 50,576 60,386 57,789 
Consolidated total$213,798 $213,819 $213,840 $50,635 $60,444 $57,836 
Capital ExpendituresDepreciation and Amortization
Nine Months Ended December 31,Nine Months Ended December 31,
2025202420252024
Tobacco Operations$24,673 $30,127 $24,505 $29,603 
Ingredients Operations15,630 24,758 15,701 14,951 
Consolidated total$40,303 $54,885 $40,206 $44,554 
v3.25.4
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss), Net of Tax ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
    The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) attributable to the Company for the nine months ended December 31, 2025 and 2024:
Nine Months Ended December 31,
(in thousands of dollars)20252024
Foreign currency translation:
Balance at beginning of year$(42,639)$(44,815)
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on foreign currency translation7,885 (3,014)
Less: Net (gain) loss on foreign currency translation attributable to noncontrolling interests396 766 
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes8,281 (2,248)
Balance at end of period$(34,358)$(47,063)
Foreign currency hedge:
Balance at beginning of year$(4,914)$(616)
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(447) and $3,000)
3,155 (11,414)
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $(640) and $55) (1)
1,572 (10)
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes4,727 (11,424)
Balance at end of period$(187)$(12,040)
Interest rate hedge:
Balance at beginning of year$2,834 $8,488 
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $577 and $(1,475))
(1,614)2,115 
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $1,030 and $2,486) (2)
(2,886)(3,565)
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes(4,500)(1,450)
Balance at end of period$(1,666)$7,038 
Pension and other postretirement benefit plans:
Balance at beginning of year$(35,332)$(44,642)
Other comprehensive income (loss) attributable to Universal Corporation:
Amortization included in earnings (net of tax expense (benefit) of $82 and $(30))(3)
(665)(898)
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes(665)(898)
Balance at end of period$(35,997)$(45,540)
Total accumulated other comprehensive loss at end of period$(72,208)$(97,605)
(1)    Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco and crop input sales is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 8 for additional information.
(2)    Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the underlying debt, or as amortized to interest expense over the period to original maturity for terminated swap agreements. See Note 8 for additional information.
(3)    This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10 for additional information.
v3.25.4
Changes In Shareholders' Equity And Noncontrolling Interests In Subsidiaries
 9 Months Ended
Dec. 31, 2025
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]  
Changes In Shareholders' Equity And Noncontrolling Interests In Subsidiaries CHANGES IN SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS IN SUBSIDIARIES
A reconciliation of the changes in Universal Corporation shareholders’ equity and noncontrolling interests in subsidiaries for the three and nine months ended December 31, 2025 and 2024 is as follows:
 Three Months Ended December 31, 2025Three Months Ended December 31, 2024
(in thousands of dollars)Universal CorporationNon-controlling InterestsTotalUniversal CorporationNon-controlling InterestsTotal
Balance at beginning of three-month period$1,469,982 $34,168 $1,504,150 $1,420,566 $37,438 $1,458,004 
Changes in common stock    
Accrual of stock-based compensation1,358 — 1,358 874 — 874 
Withholding of shares from stock-based compensation for grantee income taxes
(340)— (340)— — — 
Dividend equivalents on RSUs199 — 199 305 — 305 
Changes in retained earnings    
Net income (loss)33,249 8,339 41,588 59,639 8,157 67,796 
Cash dividends declared  
 Common stock(20,443)— (20,443)(20,020)— (20,020)
Dividend equivalents on RSUs(199)— (199)(305)— (305)
Other comprehensive income (loss)(998)(141)(1,139)(10,449)(373)(10,822)
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders
— — — — (3,920)(3,920)
Balance at end of period$1,482,808 $42,366 $1,525,174 $1,450,610 $41,302 $1,491,912 
 Nine Months Ended December 31, 2025Nine Months Ended December 31, 2024
(in thousands of dollars)Universal CorporationNon-controlling InterestsTotalUniversal CorporationNon-controlling InterestsTotal
Balance at beginning of year$1,458,556 $41,982 $1,500,538 $1,437,207 $41,716 $1,478,923 
Changes in common stock    
Accrual of stock-based compensation9,839 — 9,839 7,457 — 7,457 
Withholding of shares from stock-based compensation for grantee income taxes
(8,067)— (8,067)(3,715)— (3,715)
Dividend equivalents on RSUs728 — 728 905 — 905 
Changes in retained earnings    
Net income 75,915 14,843 90,758 85,709 13,232 98,941 
Cash dividends declared  
Common stock
(61,278)— (61,278)(60,028)— (60,028)
Dividend equivalents on RSUs(728)— (728)(905)— (905)
Other comprehensive income (loss)7,843 (396)7,447 (16,020)(766)(16,786)
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders
— (14,063)(14,063)— (12,880)(12,880)
Balance at end of period$1,482,808 $42,366 $1,525,174 $1,450,610 $41,302 $1,491,912 
v3.25.4
Insider Trading Arrangements
 9 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Restructuring Costs (Tables)
 9 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Impairment Costs
A summary of the restructuring and impairment costs recorded for the three and nine months ended December 31, 2025 and 2024 was as follows:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands)2025202420252024
Restructuring costs:
  Employee termination benefits$— $— $122 $4,342 
  Other711 — 711 1,372 
    Total restructuring costs711 — 833 5,714 
Impairment costs:
  Property, plant and equipment— — 1,000 4,859 
    Total impairment costs— — 1,000 4,859 
      Total restructuring and impairment costs$711 $— $1,833 $10,573 
v3.25.4
Revenue from Contract with Customer (Tables)
 9 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table disaggregates the Company’s revenue by significant revenue-generating category:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands of dollars)2025202420252024
Tobacco sales$719,882 $811,743 $1,800,368 $1,901,564 
Ingredient sales77,891 78,705 251,671 235,942 
Processing revenue36,717 21,128 91,449 49,877 
Other sales and revenue from contracts with customers18,665 16,405 51,736 45,369 
   Total revenue from contracts with customers853,155 927,981 2,195,224 2,232,752 
Other operating sales and revenues8,133 9,212 14,003 12,253 
   Consolidated sales and other operating revenues$861,288 $937,193 $2,209,227 $2,245,005 
Other operating sales and revenue consists principally of interest on advances to tobacco suppliers and dividend income from unconsolidated affiliates.
v3.25.4
Earnings Per Share (Tables)
 9 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands, except share and per share data)2025202420252024
Basic Earnings (Loss) Per Share
Numerator for basic earnings (loss) per share
Net income (loss) attributable to Universal Corporation$33,249 $59,639 $75,915 $85,709 
Denominator for basic earnings (loss) per share
Weighted average shares outstanding25,056,517 24,980,792 25,030,798 24,934,786 
Basic earnings (loss) per share$1.33 $2.39 $3.03 $3.44 
Diluted Earnings (Loss) Per Share
Numerator for diluted earnings (loss) per share
Net income (loss) attributable to Universal Corporation$33,249 $59,639 $75,915 $85,709 
Denominator for diluted earnings (loss) per share:
Weighted average shares outstanding25,056,517 24,980,792 25,030,798 24,934,786 
Effect of dilutive securities
Employee and outside director share-based awards132,359 161,875 136,027 180,367 
Denominator for diluted earnings (loss) per share25,188,876 25,142,667 25,166,825 25,115,153 
Diluted earnings (loss) per share$1.32 $2.37 $3.02 $3.41 
v3.25.4
Goodwill and Other Intangibles Goodwill and Other Intangibles (Tables)
 9 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
The Company's changes in goodwill at December 31, 2025 and 2024 consisted of the following:
(in thousands of dollars)Nine Months Ended December 31,
20252024
Balance at beginning of fiscal year$213,840 $213,869 
Foreign currency translation adjustment
(42)(50)
Balance at end of period$213,798 $213,819 
Schedule of Finite-Lived Intangible Assets [Table Text Block] The Company's intangible assets subject to amortization consisted of the following at December 31, 2025 and 2024 and at March 31, 2025:
(in thousands, except useful life)December 31, 2025
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$86,500 $(38,953)$47,547 
Trade names511,100 (11,100)— 
Developed technology139,300 (6,271)3,029 
Noncompetition agreements44,000 (4,000)— 
Other5712 (653)59 
Total intangible assets$111,612 $(60,977)$50,635 
December 31, 2024
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$86,500 $(31,222)$55,278 
Trade names511,100 (9,930)1,170 
Developed technology139,300 (5,925)3,375 
Noncompetition agreements4—54,000 (3,437)563 
Other5772 (714)58 
Total intangible assets$111,672 $(51,228)$60,444 
March 31, 2025
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$86,500 $(33,155)$53,345 
Trade names511,100 (10,320)780 
Developed technology139,300 (6,012)3,288 
Noncompetition agreements4—54,000 (3,625)375 
Other5802 (754)48 
Total intangible assets$111,702 $(53,866)$57,836 
Intangible assets are amortized on a straight-line basis over the asset's estimated useful economic life, as noted above.
Finite-lived Intangible Assets Amortization Expense [Table Text Block]
The Company's amortization expense for intangible assets for the three and nine months ended December 31, 2025 and 2024 was:
(in thousands of dollars)Three Months Ended December 31,Nine Months Ended December 31,
2025202420252024
Amortization Expense$1,847 $2,765 $7,111 $8,429 
Amortization expense for the developed technology intangible asset is recorded in cost of goods sold in the consolidated statements of income. The amortization expense for other intangible assets is recorded in selling, general, and administrative expenses in the consolidated statements of income.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
As of December 31, 2025, the expected future amortization expense for intangible assets was as follows:
Fiscal Year (in thousands of dollars)
2026 (excluding the nine months ended December 31, 2025)
$2,031 
20278,124 
20288,077 
20297,494 
2030 and thereafter24,909 
Total expected future amortization expense$50,635 
v3.25.4
Derivatives And Hedging Activities (Tables)
 9 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amount of Forward Contracts
The aggregate U.S. dollar notional amounts of forward and option contracts entered into for these purposes during the nine-month periods in fiscal years 2026 and 2025 was as follows:
Nine Months Ended December 31,
(in millions of dollars)20252024
Tobacco purchases$42.2 $101.4 
Processing costs8.3 15.7 
Operating costs21.9 28.9 
Total
$72.4 $146.0 
Effect Of Derivative Financial Instruments On The Consolidated Statements Of Income
The table below outlines the effects of the Company’s use of derivative financial instruments on the consolidated statements of income:
Three Months Ended December 31,Nine Months Ended December 31,
(in thousands of dollars)2025202420252024
Cash Flow Hedges - Interest Rate Swap Agreements
Derivative
Effective Portion of Hedge
Gain (loss) recorded in accumulated other comprehensive loss$(771)$9,936 $(2,191)$3,590 
Gain (loss) reclassified from accumulated other comprehensive loss into earnings
$453 $997 $1,851 $3,986 
Gain on terminated interest rate swaps amortized from accumulated other comprehensive loss into earnings
$688 $688 $2,065 $2,065 
Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings
Interest expense
Ineffective Portion of Hedge
Gain (loss) recognized in earnings$— $— $— $— 
Location of gain (loss) recognized in earningsSelling, general and administrative expenses
Hedged Item
Description of hedged itemFloating rate interest payments on term loans
Cash Flow Hedges - Foreign Currency Exchange Contracts
Derivative
Effective Portion of Hedge
Gain (loss) recorded in accumulated other comprehensive loss$(18)$(10,217)$1,085 $(12,769)
Gain (loss) reclassified from accumulated other comprehensive loss into earnings
$(942)$(142)$(3,519)$462 
Location of gain (loss) reclassified from accumulated other comprehensive loss into earnings
Cost of goods sold
Ineffective Portion and Early De-designation of Hedges
Gain (loss) recognized in earnings$— $— $— $— 
Location of gain (loss) recognized in earningsSelling, general and administrative expenses
Hedged Item
Description of hedged item
 Forecast purchases of tobacco and sales of crop inputs in Brazil
Derivatives Not Designated as Hedges - Foreign Currency Exchange Contracts
Gain (loss) recognized in earnings$758 $1,127 $432 $538 
Location of gain (loss) recognized in earningsSelling, general and administrative expenses
Effect Of Derivative Financial Instruments On The Consolidated Balance Sheets
The table below outlines the effects of the Company’s derivative financial instruments on the consolidated balance sheets at December 31, 2025 and 2024, and March 31, 2025:
Derivatives in a Fair Value Asset PositionDerivatives in a Fair Value Liability Position
Balance
Sheet
Location		Fair Value as ofBalance
Sheet
Location		Fair Value as of
(in thousands of dollars)December 31, 2025December 31, 2024March 31, 2025December 31, 2025December 31, 2024March 31, 2025
Derivatives Designated as Hedging Instruments
Interest rate swap agreements Other
non-current
assets		$— $6,310 $1,783 Other
long-term
liabilities		$1,271 $— $— 
Foreign currency exchange contractsOther
current
assets		206 — 11 Accounts
payable and
accrued
expenses		— 13,843 5,228 
Total$206 $6,310 $1,794 $1,271 $13,843 $5,228 
Derivatives Not Designated as Hedging Instruments
Foreign currency exchange contractsOther
current
assets		$1,010 $628 $291 Accounts
payable and
accrued
expenses		$185 $3,392 $1,440 
Total$1,010 $628 $291 $185 $3,392 $1,440 
v3.25.4
Fair Value Measurements (Tables)
 9 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis [Table Text Block]
At December 31, 2025 and 2024, and at March 31, 2025, the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy or the NAV practical expedient:
December 31, 2025
Fair Value Hierarchy
(in thousands of dollars)NAVLevel 1Level 2Level 3Total
Assets
Money market funds
$149 $— $— $— $149 
Trading securities associated with deferred compensation plans
— 12,191 — — 12,191 
Foreign currency exchange contracts
— — 1,216 — 1,216 
Total financial assets measured and reported at fair value
$149 $12,191 $1,216 $— $13,556 
Liabilities
Interest rate swap agreements
$— $— $1,271 $— $1,271 
Foreign currency exchange contracts
— — 185 — 185 
Total financial liabilities measured and reported at fair value
$— $— $1,456 $— $1,456 
December 31, 2024
Fair Value Hierarchy
(in thousands of dollars)NAVLevel 1Level 2Level 3Total
Assets
Money market funds
$149 $— $— $— $149 
Trading securities associated with deferred compensation plans
— 11,930 — — 11,930 
Interest rate swap agreements
— — 6,310 — 6,310 
Foreign currency exchange contracts
— — 628 — 628 
Total financial assets measured and reported at fair value
$149 $11,930 $6,938 $— $19,017 
Liabilities
Foreign currency exchange contracts
$— $— $17,235 $— $17,235 
Total financial liabilities measured and reported at fair value
$— $— $17,235 $— $17,235 
March 31, 2025
Fair Value Hierarchy
(in thousands of dollars)NAVLevel 1Level 2Level 3Total
Assets
Money market funds
$149 $— $— $— $149 
Trading securities associated with deferred compensation plans
— 11,313 — — 11,313 
Interest rate swap agreements
— — 1,783 — 1,783 
Foreign currency exchange contracts
— — 302 — 302 
Total financial assets measured and reported at fair value
$149 $11,313 $2,085 $— $13,547 
Liabilities
Foreign currency exchange contracts
$— $— $6,668 $— $6,668 
Total financial liabilities measured and reported at fair value
$— $— $6,668 $— $6,668 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
The following table summarizes the fair and carrying value of the Company’s long-term debt, and if applicable any current portion, at each of the balance sheet dates December 31, 2025, and 2024 and March 31, 2025:
(in millions of dollars)December 31, 2025December 31, 2024March 31, 2025
Fair market value of long term obligations$615 $618 $616 
Carrying value of long term obligations$620 $620 $620 
v3.25.4
Pension And Other Postretirement Benefit Plans (Tables)
 9 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Components of Company's Net Periodic Benefit Cost
The components of the Company’s net periodic benefit cost were as follows:
Pension BenefitsOther Postretirement Benefits
Three Months Ended December 31,Three Months Ended December 31,
(in thousands of dollars)2025202420252024
Service cost$1,260 $1,315 $18 $22 
Interest cost2,261 2,875 266 259 
Expected return on plan assets(3,026)(3,606)(10)(13)
Net amortization and deferral84 174 (159)(157)
Net periodic benefit cost
$579 $758 $115 $111 
Pension BenefitsOther Postretirement Benefits
Nine Months Ended December 31,Nine Months Ended December 31,
(in thousands of dollars)2025202420252024
Service cost$3,771 $3,956 $52 $69 
Interest cost6,796 8,629 794 794 
Expected return on plan assets(9,080)(10,820)(32)(41)
Net amortization and deferral250 522 (480)(477)
Net periodic benefit cost
$1,737 $2,287 $334 $345 
v3.25.4
Stock-Based Compensation (Tables)
 9 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Stock-Based Awards Issued During The Period
During the nine-month periods ended December 31, 2025 and 2024, the Company issued the following stock-based awards, representing the regular annual grants to officers and outside directors of the Company:
Nine Months Ended December 31,
20252024
RSUs:
Number granted116,360 134,360 
Grant date fair value$62.61 $49.08 
PSUs:
Number granted51,215 62,085 
Grant date fair value$55.89 $38.23 
v3.25.4
Operating Segments (Tables)
 9 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Operating Results For The Company's Reportable Segments
Reportable segment data as of, or for, each period presented in the consolidated statements of income and comprehensive income, the consolidated balance sheets, and the consolidated statements of cash flows is as follows:
Three Months Ended December 31, 2025Three Months Ended December 31, 2024
Tobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidated
Sales and other operating revenues$779,946 $81,342 $861,288 $853,884 $83,309 $937,193 
Cost of goods sold(634,173)(67,527)(701,700)(678,885)(64,720)(743,605)
Selling, general and administrative expenses(48,583)(11,218)(59,801)(58,178)(11,875)(70,053)
Corporate overhead allocated to the segments(14,403)(2,723)(17,126)(16,404)(3,055)(19,459)
Equity in pretax earnings (loss) of unconsolidated affiliates (1)
1,257 — 1,257 2,149 — 2,149 
Segment operating income84,044 (126)83,918 102,566 3,659 106,225 
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates (1)
(1,257)(2,149)
Restructuring and impairment costs (2)
(711)— 
Consolidated total$81,950 $104,076 
Nine Months Ended December 31, 2025Nine Months Ended December 31, 2024
Tobacco OperationsIngredients OperationsConsolidatedTobacco OperationsIngredients OperationsConsolidated
Sales and other operating revenues$1,944,065 $265,162 $2,209,227 $1,996,051 $248,954 $2,245,005 
Cost of goods sold(1,576,708)(218,974)(1,795,682)(1,616,797)(195,554)(1,812,351)
Selling, general and administrative expenses(133,394)(35,296)(168,690)(138,383)(36,527)(174,910)
Corporate overhead allocated to the segments(50,132)(9,478)(59,610)(48,164)(8,970)(57,134)
Equity in pretax earnings (loss) of unconsolidated affiliates(1)
1,131 — 1,131 1,647 — 1,647 
Segment operating income184,962 1,414 186,376 194,354 7,903 202,257 
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates(1)
(1,131)(1,647)
Restructuring and impairment costs (2)
(1,833)(10,573)
Consolidated operating income$183,412 $190,037 
(1)Equity in pretax earnings (loss) of unconsolidated affiliates is included in segment operating income (Tobacco Operations), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income and comprehensive income.
(2)Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income. See Note 2 for additional information.
Segment AssetsAccounts Receivable, net
December 31,
2025		December 31,
2024		March 31,
2025		December 31,
2025		December 31,
2024		March 31,
2025
Tobacco Operations$2,498,015 $2,517,063 $2,436,416 $517,732 $590,731 $566,755 
Ingredients Operations519,499 523,356 553,136 53,779 59,290 59,121 
Consolidated total$3,017,514 $3,040,419 $2,989,552 $571,511 $650,021 $625,876 
Goodwill, netIntangibles, net
December 31,
2025		December 31,
2024		March 31,
2025		December 31,
2025		December 31,
2024		March 31,
2025
Tobacco Operations$97,730 $97,751 $97,772 $59 $58 $47 
Ingredients Operations116,068 116,068 116,068 50,576 60,386 57,789 
Consolidated total$213,798 $213,819 $213,840 $50,635 $60,444 $57,836 
Capital ExpendituresDepreciation and Amortization
Nine Months Ended December 31,Nine Months Ended December 31,
2025202420252024
Tobacco Operations$24,673 $30,127 $24,505 $29,603 
Ingredients Operations15,630 24,758 15,701 14,951 
Consolidated total$40,303 $54,885 $40,206 $44,554 
v3.25.4
Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) attributable to the Company for the nine months ended December 31, 2025 and 2024:
Nine Months Ended December 31,
(in thousands of dollars)20252024
Foreign currency translation:
Balance at beginning of year$(42,639)$(44,815)
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on foreign currency translation7,885 (3,014)
Less: Net (gain) loss on foreign currency translation attributable to noncontrolling interests396 766 
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes8,281 (2,248)
Balance at end of period$(34,358)$(47,063)
Foreign currency hedge:
Balance at beginning of year$(4,914)$(616)
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $(447) and $3,000)
3,155 (11,414)
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $(640) and $55) (1)
1,572 (10)
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes4,727 (11,424)
Balance at end of period$(187)$(12,040)
Interest rate hedge:
Balance at beginning of year$2,834 $8,488 
Other comprehensive income (loss) attributable to Universal Corporation:
Net gain (loss) on derivative instruments (net of tax (expense) benefit of $577 and $(1,475))
(1,614)2,115 
Reclassification of (gain) loss to earnings (net of tax expense (benefit) of $1,030 and $2,486) (2)
(2,886)(3,565)
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes(4,500)(1,450)
Balance at end of period$(1,666)$7,038 
Pension and other postretirement benefit plans:
Balance at beginning of year$(35,332)$(44,642)
Other comprehensive income (loss) attributable to Universal Corporation:
Amortization included in earnings (net of tax expense (benefit) of $82 and $(30))(3)
(665)(898)
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes(665)(898)
Balance at end of period$(35,997)$(45,540)
Total accumulated other comprehensive loss at end of period$(72,208)$(97,605)
(1)    Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco and crop input sales is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 8 for additional information.
(2)    Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the underlying debt, or as amortized to interest expense over the period to original maturity for terminated swap agreements. See Note 8 for additional information.
(3)    This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10 for additional information.
v3.25.4
Changes In Shareholders' Equity And Noncontrolling Interests In Subsidiaries (Tables)
 9 Months Ended
Dec. 31, 2025
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]  
Reconciliation Of Changes In Shareholders' Equity And Noncontrolling Interests In Subsidiaries
A reconciliation of the changes in Universal Corporation shareholders’ equity and noncontrolling interests in subsidiaries for the three and nine months ended December 31, 2025 and 2024 is as follows:
 Three Months Ended December 31, 2025Three Months Ended December 31, 2024
(in thousands of dollars)Universal CorporationNon-controlling InterestsTotalUniversal CorporationNon-controlling InterestsTotal
Balance at beginning of three-month period$1,469,982 $34,168 $1,504,150 $1,420,566 $37,438 $1,458,004 
Changes in common stock    
Accrual of stock-based compensation1,358 — 1,358 874 — 874 
Withholding of shares from stock-based compensation for grantee income taxes
(340)— (340)— — — 
Dividend equivalents on RSUs199 — 199 305 — 305 
Changes in retained earnings    
Net income (loss)33,249 8,339 41,588 59,639 8,157 67,796 
Cash dividends declared  
 Common stock(20,443)— (20,443)(20,020)— (20,020)
Dividend equivalents on RSUs(199)— (199)(305)— (305)
Other comprehensive income (loss)(998)(141)(1,139)(10,449)(373)(10,822)
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders
— — — — (3,920)(3,920)
Balance at end of period$1,482,808 $42,366 $1,525,174 $1,450,610 $41,302 $1,491,912 
 Nine Months Ended December 31, 2025Nine Months Ended December 31, 2024
(in thousands of dollars)Universal CorporationNon-controlling InterestsTotalUniversal CorporationNon-controlling InterestsTotal
Balance at beginning of year$1,458,556 $41,982 $1,500,538 $1,437,207 $41,716 $1,478,923 
Changes in common stock    
Accrual of stock-based compensation9,839 — 9,839 7,457 — 7,457 
Withholding of shares from stock-based compensation for grantee income taxes
(8,067)— (8,067)(3,715)— (3,715)
Dividend equivalents on RSUs728 — 728 905 — 905 
Changes in retained earnings    
Net income 75,915 14,843 90,758 85,709 13,232 98,941 
Cash dividends declared  
Common stock
(61,278)— (61,278)(60,028)— (60,028)
Dividend equivalents on RSUs(728)— (728)(905)— (905)
Other comprehensive income (loss)7,843 (396)7,447 (16,020)(766)(16,786)
Other changes in noncontrolling interests
Dividends paid to noncontrolling shareholders
— (14,063)(14,063)— (12,880)(12,880)
Balance at end of period$1,482,808 $42,366 $1,525,174 $1,450,610 $41,302 $1,491,912 
v3.25.4
Restructuring costs (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]        
Restructuring and impairment costs     $ 1,833 $ 10,573
Restructuring and impairment costs [1] $ 711 $ 0 1,833 10,573
Tobacco Operations        
Restructuring Cost and Reserve [Line Items]        
Restructuring and impairment costs     100 100
Tobacco Operations | GERMANY        
Restructuring Cost and Reserve [Line Items]        
Restructuring Charges     700  
Property, plant and equipment impairment charges     $ 1,000  
Restructuring and impairment costs       $ 10,500
[1] Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income. See Note 2 for additional information.
v3.25.4
Restructuring and and Impairment Costs (Table) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]        
Restructuring and Related Cost, Incurred Cost $ 711 $ 0 $ 833 $ 5,714
Asset Impairment Charges 0 0 1,000 4,859
Restructuring, Settlement and Impairment Provisions, Total [1] 711 0 1,833 10,573
Employee termination benefits        
Restructuring Cost and Reserve [Line Items]        
Employee termination benefits 0 0 122 4,342
Other Restructuring [Member]        
Restructuring Cost and Reserve [Line Items]        
Other restructuring costs 711 0 711 1,372
Facility Closing [Member]        
Restructuring Cost and Reserve [Line Items]        
Property, plant and equipment impairment charges $ 0 $ 0 $ 1,000 $ 4,859
[1] Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income. See Note 2 for additional information.
v3.25.4
Revenue from Contract with Customer (Disaggregation of Revenue) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 853,155 $ 927,981 $ 2,195,224 $ 2,232,752
Other operating sales and revenues 8,133 9,212 14,003 12,253
Sales and other operating revenues 861,288 937,193 2,209,227 2,245,005
Manufactured Product [Member] | Tobacco Sales [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 719,882 811,743 1,800,368 1,901,564
Manufactured Product [Member] | Food Ingredient Sales [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 77,891 78,705 251,671 235,942
Processing revenue [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 36,717 21,128 91,449 49,877
Other sales and revenue from contracts with customers [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 18,665 $ 16,405 $ 51,736 $ 45,369
v3.25.4
Other Contingent Liabilities And Other Matters (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 09, 2025
Mar. 31, 2025
Other Contingent Liabilities and Other Matters [Line Items]          
Other contingent liabilities $ 1,000 $ 1,000      
Net provision for losses (recoveries) on advances to suppliers   1,721 $ (445)    
Stock repurchase program authorized amount 100,000 100,000      
Stock repurchase program remaining authorized repurchase amount 100,000 100,000      
Accounts Receivable, Sale 78,600 120,600      
Gain (Loss) on Sale of Accounts Receivable 500 900      
Line of Credit, Current       $ 780,000  
Line of Credit Facility, Fair Value of Amount Outstanding       285,000  
Debt Instrument, Unused Borrowing Capacity, Amount       300,000  
Debt Instrument, Issued, Principal   620,000      
Debt Instrument, Repaid, Principal   620,000      
Five-year term loan [Member]          
Other Contingent Liabilities and Other Matters [Line Items]          
Long-Term Debt       $ 275,000  
Debt Instrument, Interest Rate, Stated Percentage       5.47%  
Seven-year term loan [Member]          
Other Contingent Liabilities and Other Matters [Line Items]          
Long-Term Debt       $ 345,000  
Debt Instrument, Interest Rate, Stated Percentage       6.13%  
Advances to suppliers [Member]          
Other Contingent Liabilities and Other Matters [Line Items]          
Advances to suppliers current and non-current 180,000 180,000 172,000   $ 189,000
Valuation allowances 11,000 11,000 15,000   18,000
Net provision for losses (recoveries) on advances to suppliers   1,700 (400)    
Recoverable value added tax credits [Member]          
Other Contingent Liabilities and Other Matters [Line Items]          
Aggregate balance of recoverable value added tax credits 66,000 66,000 62,000   64,000
Valuation allowances $ 22,000 $ 22,000 $ 21,000   $ 21,000
v3.25.4
Earnings Per Share (Computation Of Basic And Diluted Earnings (Loss) Per Share) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Numerator for basic earnings (loss) per share        
Net income (loss) attributable to Universal Corporation $ 33,249 $ 59,639 $ 75,915 $ 85,709
Denominator for basic earnings (loss) per share        
Weighted average shares outstanding 25,056,517 24,980,792 25,030,798 24,934,786
Basic earnings (loss) per share $ 1.33 $ 2.39 $ 3.03 $ 3.44
Numerator for diluted earnings (loss) per share        
Net income (loss) attributable to Universal Corporation $ 33,249 $ 59,639 $ 75,915 $ 85,709
Denominator for diluted earnings (loss) per share:        
Weighted average shares outstanding 25,056,517 24,980,792 25,030,798 24,934,786
Employee and outside director share-based awards 132,359 161,875 136,027 180,367
Denominator for diluted earnings (loss) per share 25,188,876 25,142,667 25,166,825 25,115,153
Diluted earnings (loss) per share $ 1.32 $ 2.37 $ 3.02 $ 3.41
v3.25.4
Income Taxes (Narrative) (Details)
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Line Items]        
Effective income tax rate 37.80% 23.00% 31.60% 25.90%
Dividend tax withholding, percent     10.00%  
Pillar Two Minimum Tax     15.00%  
v3.25.4
Goodwill and Other Intangibles Change in Goodwill Balance (Details) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Balance at beginning of year $ 213,840 $ 213,869
Foreign currency translation adjustment (42) (50)
Balance at end of period $ 213,798 $ 213,819
v3.25.4
Goodwill and Other Intangibles Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]      
Gross carrying value $ 111,612 $ 111,702 $ 111,672
Accumulated amortization (60,977) (53,866) (51,228)
Net carrying value 50,635 57,836 60,444
Customer Relationships [Member]      
Finite-Lived Intangible Assets [Line Items]      
Gross carrying value 86,500 86,500 86,500
Accumulated amortization (38,953) (33,155) (31,222)
Net carrying value $ 47,547 $ 53,345 $ 55,278
Customer Relationships [Member] | Minimum [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life 11 years 11 years 11 years
Customer Relationships [Member] | Maximum [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life 13 years 13 years 13 years
Trade Names [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life 5 years 5 years 5 years
Gross carrying value $ 11,100 $ 11,100 $ 11,100
Accumulated amortization (11,100) (10,320) (9,930)
Net carrying value $ 0 $ 780 $ 1,170
Developed Technology Rights [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life 13 years 13 years 13 years
Gross carrying value $ 9,300 $ 9,300 $ 9,300
Accumulated amortization (6,271) (6,012) (5,925)
Net carrying value $ 3,029 3,288 3,375
Noncompete Agreements [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life 4 years    
Gross carrying value $ 4,000 4,000 4,000
Accumulated amortization (4,000) (3,625) (3,437)
Net carrying value $ 0 $ 375 $ 563
Noncompete Agreements [Member] | Minimum [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life   4 years 4 years
Noncompete Agreements [Member] | Maximum [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life   5 years 5 years
Other Intangible Assets [Member]      
Finite-Lived Intangible Assets [Line Items]      
Useful life 5 years 5 years 5 years
Gross carrying value $ 712 $ 802 $ 772
Accumulated amortization (653) (754) (714)
Net carrying value $ 59 $ 48 $ 58
v3.25.4
Amortization Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization of Intangible Assets $ 1,847 $ 2,765 $ 7,111 $ 8,429
v3.25.4
Goodwill and Other Intangibles Future Amortization Expense (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]      
2026 (excluding the nine months ended December 31, 2025) $ 2,031    
2027 8,124    
2028 8,077    
2029 7,494    
2030 and thereafter 24,909    
Total expected future amortization expense $ 50,635 $ 57,836 $ 60,444
v3.25.4
Derivatives And Hedging Activities (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Mar. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Mar. 31, 2025
Derivative [Line Items]        
Settlement costs from termination of interest rate swap agreements   $ (988) $ 0  
Foreign Exchange Forward [Member]        
Derivative [Line Items]        
Notional amount of derivative contracts   64,400 $ 66,700 $ 17,700
Cash Flow Hedging [Member] | Interest Rate Swap [Member]        
Derivative [Line Items]        
Notional amount of derivative contracts $ 310,000 310,000    
Settlement costs from termination of interest rate swap agreements $ (1,000)      
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]        
Derivative [Line Items]        
Net unrealized gain (loss) on foreign currency derivatives designated as cash flow hedges   $ (1,400)    
v3.25.4
Notional Amount of Forward Contracts (Details) - Forward Foreign Currency Exchange Contract [Member] - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Derivative [Line Items]    
Notional amount of derivative contracts $ 72,400 $ 146,000
Derivatives related to tobacco purchases [Member] | Tobacco purchases [Member]    
Derivative [Line Items]    
Notional amount of derivative contracts 42,200 101,400
Derivatives Not Designated As Hedges [Member] | Processing costs [Member]    
Derivative [Line Items]    
Notional amount of derivative contracts 8,300 15,700
Derivatives Not Designated As Hedges [Member] | Operating costs [Member]    
Derivative [Line Items]    
Notional amount of derivative contracts $ 21,900 $ 28,900
v3.25.4
Derivatives And Hedging Activities (Effect Of Derivative Financial Instruments On The Consolidated Statements Of Income) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Derivatives Designated As Hedges [Member] | Interest Rate Swap Agreements [Member] | Interest Expense [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax $ (771) $ 9,936 $ (2,191) $ 3,590
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 453 997 1,851 3,986
Gain on terminated interest rate swaps amortized from accumulated other comprehensive loss into earnings 688 688 2,065 2,065
Derivatives Designated As Hedges [Member] | Interest Rate Swap Agreements [Member] | Selling, General And Administrative Expenses [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (loss) recognized in earnings from ineffective portion and early de-designation of cash flow hedges 0 0 0 0
Derivatives Designated As Hedges [Member] | Forward Foreign Currency Exchange Contracts [Member] | Cost of goods sold [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax (18) (10,217) 1,085 (12,769)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (942) (142) (3,519) 462
Derivatives Designated As Hedges [Member] | Forward Foreign Currency Exchange Contracts [Member] | Selling, General And Administrative Expenses [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (loss) recognized in earnings from ineffective portion and early de-designation of cash flow hedges 0 0 0 0
Derivatives Not Designated As Hedges [Member] | Forward Foreign Currency Exchange Contracts [Member] | Selling, General And Administrative Expenses [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments $ 758 $ 1,127 $ 432 $ 538
v3.25.4
Derivatives And Hedging Activities (Effect Of Derivative Financial Instruments On The Consolidated Balance Sheets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Derivative [Line Items]      
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments $ 206 $ 1,794 $ 6,310
Derivatives in a Fair Value Liability Position Designated as Hedging Instruments 1,271 5,228 13,843
Derivatives in a Fair Value Asset Position Not Designated as Hedging Instruments 1,010 291 628
Derivatives in a Fair Value Liability Position Not Designated as Hedging Instruments 185 1,440 3,392
Interest Rate Swap Agreements [Member] | Other Non-Current Assets [Member]      
Derivative [Line Items]      
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments 0 1,783 6,310
Interest Rate Swap Agreements [Member] | Other Long-Term Liabilities [Member]      
Derivative [Line Items]      
Derivatives in a Fair Value Liability Position Designated as Hedging Instruments 1,271 0 0
Forward Foreign Currency Exchange Contract [Member] | Other Current Assets [Member]      
Derivative [Line Items]      
Derivatives in a Fair Value Asset Position Designated as Hedging Instruments 206 11 0
Derivatives in a Fair Value Asset Position Not Designated as Hedging Instruments 1,010 291 628
Forward Foreign Currency Exchange Contract [Member] | Accounts Payable and Accrued Expenses [Member]      
Derivative [Line Items]      
Derivatives in a Fair Value Liability Position Designated as Hedging Instruments 0 5,228 13,843
Derivatives in a Fair Value Liability Position Not Designated as Hedging Instruments $ 185 $ 1,440 $ 3,392
v3.25.4
Fair Value Measures and Disclosures (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Total impairment charges $ 0 $ 0   $ 1,000 $ 4,859
GERMANY          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Total impairment charges     $ 4,900 $ 1,000  
v3.25.4
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Assets:      
Money market funds $ 149 $ 149 $ 149
Trading securities associated with deferred compensation plans 12,191 11,313 11,930
Interest Rate Derivative Assets, at Fair Value   1,783 6,310
Forward foreign currency exchange contracts 1,216 302 628
Total financial assets measured and reported at fair value 13,556 13,547 19,017
Liabilities:      
Interest Rate Derivative Liabilities, at Fair Value 1,271    
Forward foreign currency exchange contracts 185 6,668 17,235
Total financial liabilities measured and reported at fair value 1,456 6,668 17,235
Net Asset Value [Member]      
Assets:      
Money market funds 149 149 149
Trading securities associated with deferred compensation plans 0 0 0
Interest Rate Derivative Assets, at Fair Value   0 0
Forward foreign currency exchange contracts 0 0 0
Total financial assets measured and reported at fair value 149 149 149
Liabilities:      
Interest Rate Derivative Liabilities, at Fair Value 0    
Forward foreign currency exchange contracts 0 0 0
Total financial liabilities measured and reported at fair value 0 0 0
Level 1 [Member]      
Assets:      
Money market funds 0 0 0
Trading securities associated with deferred compensation plans 12,191 11,313 11,930
Interest Rate Derivative Assets, at Fair Value   0 0
Forward foreign currency exchange contracts 0 0 0
Total financial assets measured and reported at fair value 12,191 11,313 11,930
Liabilities:      
Interest Rate Derivative Liabilities, at Fair Value 0    
Forward foreign currency exchange contracts 0 0 0
Total financial liabilities measured and reported at fair value 0 0 0
Level 2 [Member]      
Assets:      
Money market funds 0 0 0
Trading securities associated with deferred compensation plans 0 0 0
Interest Rate Derivative Assets, at Fair Value   1,783 6,310
Forward foreign currency exchange contracts 1,216 302 628
Total financial assets measured and reported at fair value 1,216 2,085 6,938
Liabilities:      
Interest Rate Derivative Liabilities, at Fair Value 1,271    
Forward foreign currency exchange contracts 185 6,668 17,235
Total financial liabilities measured and reported at fair value 1,456 6,668 17,235
Level 3 [Member]      
Assets:      
Money market funds 0 0 0
Trading securities associated with deferred compensation plans 0 0 0
Interest Rate Derivative Assets, at Fair Value   0 0
Forward foreign currency exchange contracts 0 0 0
Total financial assets measured and reported at fair value 0 0 0
Liabilities:      
Interest Rate Derivative Liabilities, at Fair Value 0    
Forward foreign currency exchange contracts 0 0 0
Total financial liabilities measured and reported at fair value $ 0 $ 0 $ 0
v3.25.4
Fair Value Measurements - Long Term Obligations (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Fair Value [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Long-term debt $ 615,000 $ 616,000 $ 618,000
Carrying Value [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Long-term debt 620,000 620,000 620,000
Long-term debt $ 616,585 $ 617,918 $ 617,780
v3.25.4
Pension And Other Postretirement Benefit Plans (Narrative) (Details)
$ in Millions
 9 Months Ended
Dec. 31, 2025
USD ($)
Pension and Other Postretirement Benefits [Line Items]  
Contributions to qualified and non-qualified pension plans $ 10.5
Expected additional contributions in the current fiscal year $ 1.0
v3.25.4
Pension And Other Postretirement Benefit Plans (Components Of Company's Net Periodic Benefit Cost) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Pension Benefits [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 1,260 $ 1,315 $ 3,771 $ 3,956
Interest cost 2,261 2,875 6,796 8,629
Expected return on plan assets (3,026) (3,606) (9,080) (10,820)
Net amortization and deferral 84 174 250 522
Net periodic benefit cost 579 758 1,737 2,287
Other Postretirement Benefits [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 18 22 52 69
Interest cost 266 259 794 794
Expected return on plan assets (10) (13) (32) (41)
Net amortization and deferral (159) (157) (480) (477)
Net periodic benefit cost $ 115 $ 111 $ 334 $ 345
v3.25.4
Stock-Based Compensation (Narrative) (Details) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation expense $ 9,900 $ 7,500
Expected stock based compensation for remaining fiscal year $ 700  
Restricted Stock Units (RSUs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Vesting period 3 years  
Performance Share Awards (PSAs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Vesting period 3 years  
Minimum [Member] | Performance Share Awards (PSAs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Percentage of award grant paid 0.00%  
Maximum [Member] | Performance Share Awards (PSAs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Percentage of award grant paid 150.00%  
Outside Directors [Member] | Restricted Stock Units (RSUs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Vesting period 1 year  
v3.25.4
Stock-Based Compensation (Stock-Based Awards Issued During The Period) (Details) - $ / shares
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Restricted Stock Units (RSUs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number granted 116,360 134,360
Grant date fair value $ 62.61 $ 49.08
Performance Share Awards (PSAs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number granted 51,215 62,085
Grant date fair value $ 55.89 $ 38.23
v3.25.4
Segment Reporting (Details)
 9 Months Ended
Dec. 31, 2025
segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Number of Reportable Segments 2
v3.25.4
Operating Segments (Operating Results For The Company's Reportable Segments) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]            
Sales and other operating revenues $ 861,288 $ 937,193 $ 2,209,227 $ 2,245,005    
Cost of Product and Service Sold (701,700) (743,605) (1,795,682) (1,812,351)    
Selling, General and Administrative Expense (76,927) (89,512) (228,300) (232,044)    
CorporateOverhead (17,126) (19,459) (59,610) (57,134)    
Equity In Pretax Earnings Of Unconsolidated Affiliates [1] (1,257) (2,149) (1,131) (1,647)    
Restructuring and impairment costs [2] 711 0 1,833 10,573    
Operating Income (Loss) 81,950 104,076 183,412 190,037    
Segment assets 3,017,514 3,040,419 3,017,514 3,040,419 $ 2,989,552  
Accounts Receivable, after Allowance for Credit Loss 571,511 650,021 571,511 650,021 625,876  
Goodwill, net 213,798 213,819 213,798 213,819 213,840 $ 213,869
Other intangibles, net 50,635 60,444 50,635 60,444 57,836  
Segment, Expenditure, Addition to Long-Lived Assets     40,303 54,885    
Depreciation and amortization     40,206 44,554    
Excluding Corp Overhead            
Segment Reporting Information [Line Items]            
Selling, General and Administrative Expense (59,801) (70,053) (168,690) (174,910)    
Tobacco Operations            
Segment Reporting Information [Line Items]            
Sales and other operating revenues 779,946 853,884 1,944,065 1,996,051    
Cost of Product and Service Sold (634,173) (678,885) (1,576,708) (1,616,797)    
Selling, General and Administrative Expense (48,583) (58,178) (133,394) (138,383)    
CorporateOverhead (14,403) (16,404) (50,132) (48,164)    
Equity In Pretax Earnings Of Unconsolidated Affiliates [1] (1,257) (2,149) (1,131) (1,647)    
Operating Income (Loss) 84,044 102,566 184,962 194,354    
Segment assets 2,498,015 2,517,063 2,498,015 2,517,063 2,436,416  
Accounts Receivable, after Allowance for Credit Loss 517,732 590,731 517,732 590,731 566,755  
Goodwill, net 97,730 97,751 97,730 97,751 97,772  
Other intangibles, net 59 58 59 58 47  
Segment, Expenditure, Addition to Long-Lived Assets     24,673 30,127    
Depreciation and amortization     24,505 29,603    
Ingredients            
Segment Reporting Information [Line Items]            
Sales and other operating revenues 81,342 83,309 265,162 248,954    
Cost of Product and Service Sold (67,527) (64,720) (218,974) (195,554)    
Selling, General and Administrative Expense (11,218) (11,875) (35,296) (36,527)    
CorporateOverhead (2,723) (3,055) (9,478) (8,970)    
Equity In Pretax Earnings Of Unconsolidated Affiliates [1] 0 0 0 0    
Operating Income (Loss) (126) 3,659 1,414 7,903    
Segment assets 519,499 523,356 519,499 523,356 553,136  
Accounts Receivable, after Allowance for Credit Loss 53,779 59,290 53,779 59,290 59,121  
Goodwill, net 116,068 116,068 116,068 116,068 116,068  
Other intangibles, net 50,576 60,386 50,576 60,386 $ 57,789  
Segment, Expenditure, Addition to Long-Lived Assets     15,630 24,758    
Depreciation and amortization     15,701 14,951    
Operating Segments [Member]            
Segment Reporting Information [Line Items]            
Operating Income (Loss) $ 83,918 $ 106,225 $ 186,376 $ 202,257    
[1] Equity in pretax earnings (loss) of unconsolidated affiliates is included in segment operating income (Tobacco Operations), but is reported below consolidated operating income and excluded from that total in the consolidated statements of income and comprehensive income.
[2] Restructuring and impairment costs are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income and comprehensive income. See Note 2 for additional information.
v3.25.4
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Pension and other postretirement benefit plans:        
Accumulated other comprehensive loss $ (72,208) $ (97,605) $ (80,051)  
Stockholders' Equity Attributable to Parent 1,482,808 1,450,610 1,458,556  
Accumulated Translation Adjustment [Member]        
Foreign currency translation:        
Net gain (loss) on foreign currency translation 7,885 (3,014)    
Less: Net (gain) loss on foreign currency translation attributable to noncontrolling interests 396 766    
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes 8,281 (2,248)    
Pension and other postretirement benefit plans:        
Stockholders' Equity Attributable to Parent (34,358) (47,063) (42,639) $ (44,815)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Forward Foreign Currency Exchange Contract [Member]        
Cash flow hedges: [Abstract]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 3,155 (11,414)    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax [1] 1,572 (10)    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 4,727 (11,424)    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax (447) 3,000    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 640 (55)    
Pension and other postretirement benefit plans:        
Stockholders' Equity Attributable to Parent (187) (12,040) (4,914) (616)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Rate Swap [Member]        
Cash flow hedges: [Abstract]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax (1,614) 2,115    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax [2] (2,886) (3,565)    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax (4,500) (1,450)    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax 577 (1,475)    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax (1,030) (2,486)    
Pension and other postretirement benefit plans:        
Stockholders' Equity Attributable to Parent (1,666) 7,038 2,834 8,488
Accumulated Defined Benefit Plans Adjustment [Member]        
Pension and other postretirement benefit plans:        
Amortization included in earnings (net of tax expense (benefit) of $82 and $(30))(3) [3] (665) (898)    
Other comprehensive income (loss) attributable to Universal Corporation, net of income taxes (665) (898)    
Taxes on amortization included in net income 82 (30)    
Stockholders' Equity Attributable to Parent $ 35,997 $ 45,540 $ 35,332 $ 44,642
[1] Gain (loss) on foreign currency cash flow hedges related to forecast purchases of tobacco and crop input sales is reclassified from accumulated other comprehensive income (loss) to cost of goods sold when the tobacco is sold to customers. See Note 8 for additional information.
[2] Gain (loss) on interest rate cash flow hedges is reclassified from accumulated other comprehensive income (loss) to interest expense when the related interest payments are made on the underlying debt, or as amortized to interest expense over the period to original maturity for terminated swap agreements. See Note 8 for additional information.
[3] This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10 for additional information.
v3.25.4
Changes In Shareholders' Equity And Noncontrolling Interests In Subsidiaries (Reconciliation Of Changes In Shareholders' Equity And Noncontrolling Interests In Subsidiaries) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Schedule of Capitalization, Equity [Line Items]        
Total shareholders' equity, beginning balance $ 1,504,150 $ 1,458,004 $ 1,500,538 $ 1,478,923
Accrual of stock-based compensation 1,358 874 9,839 7,457
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation 340 0 8,067 3,715
Dividend equivalents on RSUs 199 305 728 905
Net income (loss) attributable to parent 33,249 59,639 75,915 85,709
Net income attributable to noncontrolling interest 8,339 8,157 14,843 13,232
Net (income) loss 41,588 67,796 90,758 98,941
Common stock dividends declared (20,443) (20,020) (61,278) (60,028)
Dividend equivalents on RSUs (199) (305) (728) (905)
Other comprehensive income (loss) (1,139) (10,822) 7,447 (16,786)
Dividends paid to noncontrolling interests 0 (3,920) (14,063) (12,880)
Total shareholders' equity, ending balance 1,525,174 1,491,912 1,525,174 1,491,912
Universal Corporation [Member]        
Schedule of Capitalization, Equity [Line Items]        
Total shareholders' equity, beginning balance 1,469,982 1,420,566 1,458,556 1,437,207
Accrual of stock-based compensation 1,358 874 9,839 7,457
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation 340 0 8,067 3,715
Dividend equivalents on RSUs 199 305 728 905
Net income (loss) attributable to parent 33,249 59,639 75,915 85,709
Common stock dividends declared (20,443) (20,020) (61,278) (60,028)
Dividend equivalents on RSUs (199) (305) (728) (905)
Other comprehensive income (loss) attributable to parent (998) (10,449) 7,843 (16,020)
Dividends paid to noncontrolling interests 0 0 0 0
Total shareholders' equity, ending balance 1,482,808 1,450,610 1,482,808 1,450,610
Noncontrolling Interests [Member]        
Schedule of Capitalization, Equity [Line Items]        
Total shareholders' equity, beginning balance 34,168 37,438 41,982 41,716
Accrual of stock-based compensation 0 0 0 0
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation 0 0 0 0
Dividend equivalents on RSUs 0 0 0 0
Net income attributable to noncontrolling interest 8,339 8,157 14,843 13,232
Common stock dividends declared 0 0 0 0
Dividend equivalents on RSUs 0 0 0 0
Other comprehensive income (loss) attributable to noncontrolling interest (141) (373) (396) (766)
Dividends paid to noncontrolling interests 0 (3,920) (14,063) (12,880)
Total shareholders' equity, ending balance $ 42,366 $ 41,302 $ 42,366 $ 41,302