10 unchanged sentences
Purchases of Equity Securities
−Removed: As indicated in the following table, we repurchased shares of our common stock during the three-month period ended March 31, 2022.
−Removed: Total Number of Shares Repurchased Average Price Paid Per Share (2)
+Added: As indicated in the following table, we did not repurchase shares of our common stock during the three-month period ended March 31, 2023.
+Added: Total Number of Shares Repurchased Average
+Added: Per Share (2)
Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs (3)
21 unchanged sentences
$ 124,052 $ 86,577 $ 87,410 $ 71,680 $ 104,121
−Removed: Earnings available to Universal Corporation common shareholders $ 86,577 $ 87,410 $ 71,680 $ 104,121 $ 105,662
Return on beginning common shareholders’ equity 9.3 % 6.6 % 7.0 % 5.4 % 7.8 %
18 unchanged sentences
See Note 17 to the consolidated financial statements in Item 8 of this Annual Report for information on reportable operating segments.
−Removed: (2) We hold less than a 100% financial interest in certain consolidated subsidiaries, and a portion of net income is attributable to the noncontrolling interests in
+Added: (2) We hold less than a 100% financial interest in certain consolidated subsidiaries, and a portion of net income is attributable to the noncontrolling interests in those subsidiaries.
Significant items included in the operating results in the above table are as follows:
+Added: • Fiscal Year 2023 – Final judgement on a lawsuit against the government in Brazil resulted in the refund of taxes paid in prior years, as well as interest proceeds on the overpayment, increasing net income by $29.2 million and diluted earnings per share by $1.18.
+Added: Sale of the idled tobacco operations in Tanzania resulted in a reversal of interest expense for a previously recognized uncertain tax position and an increase in income taxes, increasing net income by $0.7 million and diluted earnings per share by $0.02.
+Added: On a combined basis, the net effect of these items increased net income by $29.9 million, or $1.20 per diluted share.
• Fiscal Year 2022 – $10.5 million of restructuring and impairment costs, primarily related to the impairment of assets in Tanzania as well as other restructurings in the Tobacco operations segment.
2 unchanged sentences
We recognized a $3.1 million expense in cost of goods sold relating to the expensing of a fair value adjustment to inventory associated with the initial acquisition accounting for Shank's that reduced diluted earnings per share by $0.10.
−Removed: We reversed a portion of the contingent consideration liability for the FruitSmart acquisition, as a result of certain performance metrics that did not meet the required threshold stipulated in the purchase agreement that increased net income by $2.5 million, or $0.10 per diluted share.
+Added: We reversed a portion of the contingent consideration liability for the FruitSmart acquisition, as a result of certain performance metrics that did not meet the required threshold
+Added: stipulated in the purchase agreement that increased net income by $2.5 million, or $0.10 per diluted share.
We recognized a benefit from a final income tax ruling as at a foreign subsidiary that increased interest income by $0.5 million and decreased income taxes by $1.7 million, respectively.
25 unchanged sentences
On a combined basis, the net effect of these items decreased net income by $8.7 million, or $0.34 per diluted share.
−Removed: • Fiscal Year 2018 – a $4.5 million reduction of income tax expense from the enactment of the Tax Cuts and Jobs Act in December 2017.
−Removed: The reduction in income tax expense increased diluted earnings per share by $0.18.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.