| Equity Method Investments |
Equity Method Investments The following summarizes the Company's equity method investments as of December 31, 2025:
| | | | | | | | | | | | | | | | Investee Name | Location | Primary Purpose | Ownership Percentage | Basis Difference(1) | | Adams International Ltd. | Thailand | Purchase and process tobacco | 49% | $ | (4,526) | | | Alliance One Industries India Private Ltd. | India | Purchase and process tobacco | 49% | (5,770) | | | China Brasil Tabacos Exportadora S.A. | Brazil | Purchase and process tobacco | 49% | 43,000 | | | Oryantal Tütün Paketleme Sanayi ve Ticaret A.Ş. | Turkey | Process tobacco | 50% | (416) | | | Purilum, LLC | U.S. | Produce flavor formulations and consumable nicotine products | 50% | 4,589 | | | Siam Tobacco Export Corporation Ltd. | Thailand | Purchase and process tobacco | 49% | (6,098) | | (1) Basis differences for the Company's equity method investments are due to fair value adjustments recorded during fiscal 2021. |
The following summarizes financial information for these equity method investments:
| | | | | | | | | | | | | | | | Three Months Ended | Nine Months Ended | | December 31, | December 31, | | 2025 | 2024 | 2025 | 2024 | | Statement of operations: | | | | | | Sales | $ | 263,952 | | $ | 278,031 | | $ | 399,821 | | $ | 421,327 | | | Gross profit | 37,326 | | 25,977 | | 57,102 | | 45,692 | | | Net income | 25,109 | | 8,933 | | 24,158 | | 15,354 | |
| | | | | | | | | | | | | December 31, 2025 | December 31, 2024 | March 31, 2025 | | Balance sheet: | | | | | Current assets | $ | 513,603 | | $ | 525,087 | | $ | 419,192 | | | Property, plant, and equipment and other assets | 62,556 | | 48,206 | | 49,243 | | | Current liabilities | 424,846 | | 433,870 | | 328,818 | | | Long-term obligations and other liabilities | 6,212 | | 3,827 | | 4,560 | |
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