| 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, 2025 | | Three Months Ended December 31, 2024 | | (in thousands of dollars) | | Universal Corporation | | Non-controlling Interests | | Total | | Universal Corporation | | Non-controlling Interests | | Total | | | | | | | | | | | | | | | 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 compensation | | 1,358 | | | — | | | 1,358 | | | 874 | | | — | | | 874 | | Withholding of shares from stock-based compensation for grantee income taxes | | (340) | | | — | | | (340) | | | — | | | — | | | — | | | Dividend equivalents on RSUs | | 199 | | | — | | | 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, 2025 | | Nine Months Ended December 31, 2024 | | (in thousands of dollars) | | Universal Corporation | | Non-controlling Interests | | Total | | Universal Corporation | | Non-controlling Interests | | Total | | | | | | | | | | | | | | | 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 compensation | | 9,839 | | | — | | | 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 RSUs | | 728 | | | — | | | 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 | | | | | | | | | | | | | | |
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