Document and Entity Information (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Mar. 31, 2012	Apr. 30, 2012	Sep. 30, 2011
Entity Information [Line Items]
Entity Registrant Name	Prestige Brands Holdings, Inc.
Entity Central Index Key	0001295947
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		50,465,933
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 453.0

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2010
Revenues
Net sales	$ 437,838	$ 333,715	$ 287,552
Other revenues	3,247	2,795	5,050
Total revenues	441,085	336,510	292,602
Cost of Sales
Cost of sales (exclusive of depreciation shown below)	213,701	165,632	139,158
Gross profit	227,384	170,878	153,444
Operating Expenses
Advertising and promotion	57,127	42,897	30,923
General and administrative	56,700	41,960	34,195
Depreciation and amortization	10,734	9,876	10,001
Total operating expenses	124,561	94,733	75,119
Operating income	102,823	76,145	78,325
Other (income) expense
Interest income	(18)	(1)	(1)
Interest expense	41,338	27,318	22,936
Gain on settlement	(5,063)	0	0
Loss on extinguishment of debt	5,409	300	2,656
Total other expense	41,666	27,617	25,591
Income from continuing operations before income taxes	61,157	48,528	52,734
Provision for income taxes	23,945	19,349	20,664
Income from continuing operations	37,212	29,179	32,070
Discontinued Operations
Income (loss) from discontinued operations, net of income tax	0	591	(112)
Gain (loss) on sale of discontinued operations, net of income tax	0	(550)	157
Net income	$ 37,212	$ 29,220	$ 32,115
Basic earnings per share:
Income from continuing operations (in dollars per share)	$ 0.74	$ 0.58	$ 0.64
Income (loss) from discontinued operations and gain (loss) on sale of discontinued operations (in dollars per share)	$ 0.00	$ 0.00	$ 0.00
Net income (in dollars per share)	$ 0.74	$ 0.58	$ 0.64
Diluted earnings per share:
Income from continuing operations (in dollars per share)	$ 0.73	$ 0.58	$ 0.64
Income (loss) from discontinued operations and gain (loss) on sale of discontinued operations (in dollars per share)	$ 0.00	$ 0.00	$ 0.00
Net income (in dollars per share)	$ 0.73	$ 0.58	$ 0.64
Weighted average shares outstanding:
Basic (in shares)	50,270	50,081	50,013
Diluted (in shares)	50,748	50,338	50,085

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Mar. 31, 2011
Current assets
Cash and cash equivalents	$ 19,015	$ 13,334
Accounts receivable, net	60,228	44,393
Inventories	51,113	39,751
Deferred income tax assets	5,283	5,292
Prepaid expenses and other current assets	11,396	4,812
Total current assets	147,035	107,582
Property and equipment, net	1,304	1,444
Goodwill	173,702	154,896
Intangible assets, net	1,400,522	786,361
Other long-term assets	35,713	6,635
Total Assets	1,758,276	1,056,918
Liabilities and Stockholders' Equity
Accounts payable	26,726	21,615
Accrued interest payable	13,889	10,313
Other accrued liabilities	23,308	22,280
Total current liabilities	63,923	54,208
Long-term debt
Principal amount	1,135,000	492,000
Less unamortized discount	(11,092)	(5,055)
Long-term debt, net of unamortized discount	1,123,908	486,945
Deferred income tax liabilities	167,717	153,933
Total Liabilities	1,355,548	695,086
Commitments and Contingencies — Note 16
Stockholders' Equity
Preferred stock - $0.01 par value; Authorized - 5,000 shares; Issued and outstanding - None	0	0
Preferred share rights	283	0
Common stock - $0.01 par value; Authorized - 250,000 shares; Issued - 50,466 shares at March 31, 2012 and 50,276 shares at March 31, 2011, respectively	505	503
Additional paid-in capital	391,898	387,932
Treasury stock, at cost - 181 shares at March 31, 2012 and 160 shares at March 31, 2011	(687)	(416)
Accumulated other comprehensive loss, net of tax	(13)	0
Retained earnings (accumulated deficit)	10,742	(26,187)
Total Stockholders' Equity	402,728	361,832
Total Liabilities and Stockholders' Equity	$ 1,758,276	$ 1,056,918

Consolidated Balance Sheets (Parentheticals) (USD $) In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2012	Mar. 31, 2011
Stockholders' Equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	250,000	250,000
Common stock, shares issued	50,466	50,276
Treasury stock, shares	181	160

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

Consolidated Statements of Changes in Stockholders' Equity and Comprehensive Income (USD $) In Thousands, unless otherwise specified	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Preferred Share Rights [Member]
Balances at Mar. 31, 2009	$ 294,385	$ 501	$ 382,803	$ (63)	$ (1,334)	$ (87,522)
Treasury stock, shares at Mar. 31, 2009				124
Common stock, shares at Mar. 31, 2009		50,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,225	1	1,224
Stock-based compensation (in shares)		94
Components of comprehensive income:
Net income	32,115					32,115
Amortization of interest rate caps reclassified into earnings, net of income tax expense of $818	1,334				1,334
Total comprehensive income	33,449
Income tax expense related to amortization of interest rate caps reclassified into earnings	818
Balances at Mar. 31, 2010	329,059	502	384,027	(63)	0	(55,407)
Common stock, shares at Mar. 31, 2010		50,154
Treasury stock, shares at Mar. 31, 2010				124
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	3,575		3,575
Exercise of stock options	331		331
Exercise of stock options (in shares)		34
Restricted stock exercises	0	1	(1)
Restricted stock exercises (in shares)		88
Shares surrendered as payment of tax withholding	(353)			(353)
Shares surrendered as payment of tax withholding (in shares)				36
Components of comprehensive income:
Net income	29,220					29,220
Total comprehensive income	29,220
Balances at Mar. 31, 2011	361,832	503	387,932	(416)	0	(26,187)	0
Treasury stock, shares at Mar. 31, 2011	160			160
Common stock, shares at Mar. 31, 2011		50,276
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	3,078		3,078
Exercise of stock options	889	1	888
Exercise of stock options (in shares)		87
Charge related to fair value of preferred share rights						(283)	283
Restricted stock exercises	1	1
Restricted stock exercises (in shares)		103
Shares surrendered as payment of tax withholding	(271)			(271)
Shares surrendered as payment of tax withholding (in shares)				21
Components of comprehensive income:
Net income	37,212					37,212
Translation adjustments	(13)				(13)
Total comprehensive income	37,199
Balances at Mar. 31, 2012	$ 402,728	$ 505	$ 391,898	$ (687)	$ (13)	$ 10,742	$ 283
Treasury stock, shares at Mar. 31, 2012	181			181
Common stock, shares at Mar. 31, 2012		50,466

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2010
Operating Activities
Net income	$ 37,212	$ 29,220	$ 32,115
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,734	10,108	11,450
Loss (gain) on sale of discontinued operations	0	890	(253)
Deferred income taxes	13,793	9,324	11,012
Amortization of deferred financing costs	1,630	1,043	1,926
Impairment of goodwill and intangible assets	0	0	2,751
Stock-based compensation costs	3,078	3,575	2,085
Loss on extinguishment of debt	5,409	300	2,166
Amortization of debt discount	1,030	702	0
Loss on disposal of equipment	0	153	0
Changes in operating assets and liabilities
Accounts receivable	(15,854)	4,918	6,404
Inventories	3,710	12,443	(3,351)
Prepaid expenses and other current assets	(3,009)	154	(3,559)
Accounts payable	5,127	1,784	(3,127)
Accrued liabilities	4,592	12,056	(192)
Net cash provided by operating activities	67,452	86,670	59,427
Investing Activities
Purchases of equipment	(606)	(655)	(673)
Proceeds from sale of property and equipment	0	12	0
Proceeds from sale of discontinued operations	0	4,122	7,993
Proceeds from escrow of Blacksmith acquisition	1,200	0	0
Net cash provided by (used in) investing activities	(662,206)	(275,680)	7,320
Financing Activities
Proceeds from issuance of debt	0	0	296,046
Proceeds from issuance of Senior Notes	250,000	100,250	0
Proceeds from issuance of 2012 Term Loan and 2010 Term Loan	650,100	112,936	0
Repayment of 2010 Term Loan	(242,000)	0	0
Payment of deferred financing costs	(33,284)	(830)	(6,627)
Repayment of long-term debt	(25,000)	(51,087)	(350,250)
Proceeds from exercise of stock options	889	331	0
Shares surrendered as payment of tax withholding	(271)	(353)	0
Net cash (used in) provided by financing activities	600,434	161,247	(60,831)
Effects of exchange rate changes on cash and cash equivalents	1	0	0
Increase (decrease) in cash	5,681	(27,763)	5,916
Cash - beginning of period	13,334	41,097	35,181
Cash - end of period	19,015	13,334	41,097
Interest paid	34,977	17,509	24,820
Income taxes paid	12,865	11,894	15,494
Blacksmith [Member]
Investing Activities
Acquisition	0	(202,044)	0
Dramamine [Member]
Investing Activities
Acquisition	0	(77,115)	0
GSK Brands [Member]
Investing Activities
Acquisition	$ (662,800)	$ 0	$ 0

Business and Basis of Presentation

12 Months Ended

Mar. 31, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Basis of Presentation

1. Business and Basis of Presentation

Nature of Business

Prestige Brands Holdings, Inc. (referred to herein as the “Company” or “we” which reference shall, unless the context requires otherwise, be deemed to refer to Prestige Brands Holdings, Inc. and all of its direct or indirect wholly-owned subsidiaries on a consolidated basis) is engaged in the marketing, sales and distribution of Over-the-Counter (“OTC”) Healthcare and Household Cleaning brands to mass merchandisers, drug stores, supermarkets, club and dollar stores primarily in the United States, Canada and certain other international markets. Prestige Brands Holdings, Inc. is a holding company with no operations and is also the parent guarantor of the senior credit facility and the senior notes described in Note 10 to the Consolidated Financial Statements.

Basis of Presentation

Our Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States. All significant intercompany transactions and balances have been eliminated in consolidation. Our fiscal year ends on March 31st of each year. References in these Consolidated Financial Statements or notes to a year (e.g., “2012”) mean our fiscal year ended on March 31st of that year.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on our knowledge of current events and actions that we may undertake in the future, actual results could differ from those estimates. As discussed below, our most significant estimates include those made in connection with the valuation of intangible assets, sales returns and allowances, trade promotional allowances and inventory obsolescence.

Cash and Cash Equivalents

We consider all short-term deposits and investments with original maturities of three months or less to be cash equivalents. Substantially all of our cash is held by a large regional bank with headquarters in California. We do not believe that, as a result of this concentration, we are subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships.

Accounts Receivable

We extend non-interest-bearing trade credit to our customers in the ordinary course of business. We maintain an allowance for doubtful accounts receivable based upon historical collection experience and expected collectability of the accounts receivable. In an effort to reduce credit risk, we (i) have established credit limits for all of our customer relationships, (ii) perform ongoing credit evaluations of customers’ financial condition, (iii) monitor the payment history and aging of customers’ receivables, and (iv) monitor open orders against an individual customer’s outstanding receivable balance. As a result of our acquisition of GSK brands and our Transitional Services Agreement, we have also included in accounts receivable $8.4 million due from GSK, as further discussed in Note 3.

Inventories

Inventories are stated at the lower of cost or market value, where cost is determined by using the first-in, first-out method. We reduce inventories for the diminution of value resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its estimated market value. Factors utilized in the determination of estimated market value include (i) current sales data and historical return rates, (ii) estimates of future demand, (iii) competitive pricing pressures, (iv) new product introductions, (v) product expiration dates, and (vi) component and packaging obsolescence.

Property and Equipment

Property and equipment are stated at cost and are depreciated using the straight-line method based on the following estimated useful lives:



	Years
Machinery	5
Computer equipment	3
Furniture and fixtures	7

Leasehold improvements are amortized over the lesser of the term of the lease or five years.

Expenditures for maintenance and repairs are charged to expense as incurred. When an asset is sold or otherwise disposed of, we remove the cost and associated accumulated depreciation from the accounts and recognize the resulting gain or loss in the Consolidated Statement of Operations.

Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. An impairment loss is recognized if the carrying amount of the asset exceeds its fair value.

Goodwill

The excess of the purchase price over the fair market value of assets acquired and liabilities assumed in purchase business combinations is classified as goodwill. Goodwill is not amortized, although the carrying value is tested for impairment at least annually in the fourth fiscal quarter of each year, or more frequently if events or changes in circumstances indicate that the asset may be impaired. We test goodwill for impairment at the reporting unit “brand” level, which is one level below the operating segment level.

Intangible Assets

Intangible assets, which are comprised primarily of trademarks, are stated at cost less accumulated amortization. For intangible assets with finite lives, amortization is computed on the straight-line method over estimated useful lives ranging from 3 to 30 years.

Indefinite-lived intangible assets are tested for impairment at least annually in the fourth fiscal quarter of each year. Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts exceed their fair values and may not be recoverable. An impairment loss is recognized if the carrying amount of the asset exceeds its fair value.

Deferred Financing Costs

We have incurred debt origination costs in connection with the issuance of long-term debt. These costs are capitalized as deferred financing costs and amortized over the term of the related debt using the effective interest method, or in certain circumstances, the straight-line method, where the straight-line method approximates the effective interest method.

Revenue Recognition

Revenues are recognized when the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) the selling price is fixed or determinable; (iii) the product has been shipped and the customer takes ownership and assumes the risk of loss; and (iv) collection of the resulting receivable is reasonably assured. We have determined that these criteria are met and the transfer of the risk of loss generally occurs when product is received by the customer and, accordingly, we recognize revenue at that time. Provision is made for estimated discounts related to customer payment terms and estimated product returns at the time of sale based on our historical experience.

As is customary in the consumer products industry, we participate in the promotional programs of our customers to enhance the sale of our products. The cost of these promotional programs varies based on the actual number of units sold during a finite period of time. These promotional programs consist of direct-to-consumer incentives, such as coupons and temporary price reductions, as well as incentives to our customers, such as allowances for new distribution, including slotting fees, and cooperative advertising. Estimates of the costs of these promotional programs are based on (i) historical sales experience, (ii) the current promotional offering, (iii) forecasted data, (iv) current market conditions, and (v) communication with customer purchasing/marketing personnel. At the completion of the promotional program, the estimated amounts are adjusted to actual results.

Due to the nature of the consumer products industry, we are required to estimate future product returns. Accordingly, we record an estimate of product returns concurrent with recording sales which is made after analyzing (i) historical return rates, (ii) current economic trends, (iii) changes in customer demand, (iv) product acceptance, (v) seasonality of our product offerings, and (vi) the impact of changes in product formulation, packaging and advertising.

Cost of Sales

Cost of sales includes product costs, warehousing costs, inbound and outbound shipping costs, and handling and storage costs. Shipping, warehousing and handling costs were $27.8 million for 2012, $23.5 million for 2011 and $20.7 million for 2010.

Advertising and Promotion Costs

Advertising and promotion costs are expensed as incurred. Allowances for new distribution costs associated with products, including slotting fees, are recognized as a reduction of sales. Under these new distribution arrangements, the retailers allow our products to be placed on the stores’ shelves in exchange for such fees.

Stock-based Compensation

We recognize stock-based compensation by measuring the cost of services to be rendered based on the grant-date fair value of the equity award. Compensation expense is to be recognized over the period an employee is required to provide service in exchange for the award, generally referred to as the requisite service period.

Income Taxes

Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized.

The Income Taxes topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) prescribes a recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, we have applied a more-likely-than-not recognition threshold for all tax uncertainties. The guidance only allows the recognition of those tax benefits that have a greater than 50% likelihood of being sustained upon examination by the various taxing authorities.

We are subject to taxation in the United States and various state and foreign jurisdictions.

We classify penalties and interest related to unrecognized tax benefits as income tax expense in the Consolidated Statements of Operations.

Derivative Instruments

Companies are required to recognize derivative instruments as either assets or liabilities in the Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, a cash flow hedge or a hedge of a net investment in a foreign operation.

While we have utilized derivative financial instruments in the past, we did not have any derivative financial instruments at March 31, 2012 or 2011, although we did incur a $1.3 million loss during 2010 related to derivative financial instruments.

Earnings Per Share

Basic earnings per share is calculated based on income available to common stockholders and the weighted-average number of shares outstanding during the reporting period. Diluted earnings per share is calculated based on income available to common stockholders and the weighted-average number of common and potential common shares outstanding during the reporting period. Potential common shares, composed of the incremental common shares issuable upon the exercise of stock options, stock appreciation rights and unvested restricted shares, are included in the earnings per share calculation to the extent that they are dilutive.

Recently Issued Accounting Standards

In December 2011, the FASB issued guidance regarding disclosures about offsetting assets and liabilities. The new disclosure requirements mandate that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, the standard requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements. An entity will be required to disclose the following information for assets and liabilities within the scope of the new standard: (i) the gross amounts of those recognized assets and those recognized liabilities; (ii) the amounts offset to determine the net amounts presented in the statement of financial position; (iii) the net amounts presented in the statement of financial position; (iv) the amounts subject to an enforceable master netting arrangement or similar agreement not otherwise included in (ii); and (v) the net amount after deducting the amounts in (iv) from the amounts in (iii). The standard affects all entities with balances presented on a net basis in the financial statements, derivative assets and derivative liabilities, repurchase agreements, and financial assets and financial liabilities executed under a master netting or similar arrangement. This guidance is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. We do not expect the adoption of this new guidance to have a material impact on our Consolidated Financial Statements. However, our arrangement with GSK provides, during the term of the arrangement, that we will receive a net monthly remittance and therefore we will be reporting a net amount due from GSK in our accounts receivable.

In June 2011, the FASB issued guidance regarding presentation of comprehensive income. Under the ASC Comprehensive Income topic, entities are allowed the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity. This guidance does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income.

In December 2011, the FASB issued guidance to defer the new requirement to present components of reclassifications of other comprehensive income on the face of the income statement. Based on this guidance, entities are still required to adopt either the single continuous statement or the two-statement approach required by the new guidance. However, entities should continue to report reclassifications out of accumulated other comprehensive income consistent with the requirements in effect before the adoption of the new standard (i.e., by component of other comprehensive income, either by displaying each component on a gross basis on the face of the appropriate financial statement or by displaying each component net of other changes on the face of the appropriate financial statement with the gross change disclosed in the notes). The new guidance and this deferral are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Early adoption is permitted, but full retrospective application is required. The December 2011 deferral of the guidance issued in June 2011, as well as the June 2011 guidance, are effective at the same time. We do not expect that the adoption of this new guidance will have a material impact on our Consolidated Financial Statements.

In September 2011, the FASB issued guidance regarding testing goodwill for impairment. The new guidance is intended to simplify how entities test goodwill for impairment. The new guidance permits an entity to first assess qualitative factors to determine whether it is "more-likely-than-not" that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in the ASC Intangibles-Goodwill and Other topic. The more-likely-than-not threshold is defined as having a likelihood of more than 50%. The new guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted. We do not expect that the adoption of this new guidance will have a material impact on our Consolidated Financial Statements.

In May 2011, the FASB issued guidance on fair value measurement. The ASC Fair Value Measurement topic amended the requirements for measuring fair value and for disclosing information about fair value measurements, including a consistent meaning of the term “fair value”. The new guidance states that the concepts of highest and best use and valuation premise are only relevant when measuring the fair value of non-financial assets (that is, it does not apply to financial assets or any liabilities). The disclosure requirements have been enhanced, with the most significant change requiring entities, for their recurring Level 3 fair value measurements, to disclose quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements. New disclosures are required about the use of a non-financial asset measured or disclosed at fair value if its use differs from its highest and best use. In addition, entities must report the level in the fair value hierarchy of assets and liabilities not recorded at fair value but where fair value is disclosed. This guidance is effective during interim and annual periods beginning after December 15, 2011 and is required to be applied prospectively. The adoption of this new guidance did not have a material impact on our Consolidated Financial Statements.

Management has reviewed and continues to monitor the actions of the various financial and regulatory reporting agencies and is currently not aware of any other pronouncement that could have a material impact on our consolidated financial position, results of operations or cash flows.

- Definition

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

+ References+ Details

Discontinued Operations and Sale of Certain Assets

12 Months Ended

Mar. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Sale of Certain Assets

On September 1, 2010, we sold certain assets related to the Cutex nail polish remover brand for $4.1 million. In accordance with the Discontinued Operations topic of the ASC, we reclassified the related operating results as discontinued in the Consolidated Financial Statements and related notes for all periods presented. We recognized a loss of $0.9 million on a pre-tax basis and $0.6 million net of related tax effects of $0.3 million, on the sale in 2011. As a result of the divestiture of Cutex, which comprised a substantial majority of the assets in our previously reported Personal Care segment, we reclassified the then remaining Personal Care segment assets to the OTC Healthcare segment for all periods presented.

In October 2009, we sold certain assets related to the shampoo brands, which were included in our previously reported Personal Care segment. In accordance with the ASC, we reclassified the related operating results as discontinued in the Consolidated Financial Statements and related notes for all periods presented. We recognized a gain of $0.3 million on a pre-tax basis and $0.2 million net of related tax effects of $0.1 million on the sale in 2010. The total sales price for the assets was $9.0 million, subject to an inventory adjustment, with $8.0 million received upon closing. We received the remaining $1.0 million in October 2010.

The following table summarizes the results of discontinued operations:



(In thousands)	Year Ended March 31,
	2012		2011		2010
Components of Income
Revenues	$	—	$	4,027	$	14,474
Income (loss) from discontinued operations, net of income tax	—		591		(112		)

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 43-48

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

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+ Details

Acquisitions

12 Months Ended

Mar. 31, 2012

Business Combinations [Abstract]

Acquisitions

Acquisition of GlaxoSmithKline OTC Brands

On December 20, 2011, we entered into two separate agreements with GlaxoSmithKline plc (“GSK”) to acquire a total of 17 North American OTC pharmaceutical brands for $660.0 million in cash. On January 31, 2012, we completed, subject to a post-closing inventory and apportionment adjustment, as defined in the agreement, the acquisition of 15 North American over-the-counter healthcare brands owned by GSK and its affiliates (the “GSK Brands I”) for $615.0 million in cash, including the related contracts, trademarks and inventory.

The GSK Brands I include, among other brands, BC, Goody's and Ecotrin brands of pain relievers; Beano, Gaviscon, Phazyme, Tagamet and Fiber Choice gastrointestinal brands; and the Sominex sleep aid brand. These brands are complementary to our existing OTC Healthcare portfolio.

We acquired the GSK Brands I pursuant to the terms of that certain purchase agreement we entered into on December 20, 2011 with GSK and its affiliates. We also entered into a separate purchase agreement on December 20, 2011 with GSK and its affiliates to acquire Debrox and Gly-Oxide brands (the “GSK Brands II”) in the United States for $45.0 million in cash, including the related contracts, trademarks and inventory, subject to a post-closing inventory adjustment. The GSK Brands II are also complementary to our existing OTC Healthcare portfolio. The acquisition of the GSK Brands II was completed on March 30, 2012.

These acquisitions were accounted for in accordance with the Business Combinations topic of the ASC, which requires that the total cost of an acquisition be allocated to the tangible and intangible assets acquired and liabilities assumed based upon their respective fair values at the date of acquisition.

The purchase price of GSK Brands I and GSK Brands II was funded by cash provided by the issuance of long-term debt and additional bank borrowings, which are discussed further in Note 10 to the Consolidated Financial Statements.

In April 2012, we received the post-closing inventory and apportionment adjustments, which required an additional $2.8 million to be paid to GSK.

Concurrent with the closing of the transaction, we entered into a Transitional Services Agreement with GSK (the “TSA”), whereby GSK is to provide various services including: marketing, operations, finance and other services from the acquisition date through June 30, 2012. As part of the TSA, GSK will, among other things, ship products, invoice customers, collect from customers and pay certain vendors on our behalf. Our costs under the TSA are approximately $2.5 million per month for the length of the agreement and may be reduced if we remove certain services as we transition these processes to us. We incurred $5.0 million in TSA costs for the period ended March 31, 2012. Pursuant to this arrangement, we will receive on a monthly basis the net amount owed to us for revenues and expenses, net of GSK's TSA fees and inventory that GSK purchased on our behalf. Therefore, a net amount of $8.4 million due from GSK is included in our accounts receivable at March 31, 2012.

The allocation of the purchase price to assets acquired is based on a valuation which we performed to determine the fair value of such assets as of the acquisition date. The following table summarizes our preliminary allocation of the $662.8 million purchase price to the assets we acquired on the GSK Brands I and GSK Brands II (collectively, the "GSK Brands") acquisition dates:



(In thousands)	GSK Brands I (January 31, 2012)		GSK Brands II (March 30, 2012)		Total
Inventory	$	14,820	$	250	$	15,070
Prepaid expenses	3,575		—		3,575
Trade names	542,892		81,257		624,149
Goodwill	17,401		2,605		20,006
Total purchase price	$	578,688	$	84,112	$	662,800

We recorded goodwill based on the amount by which the purchase price exceeded the fair value of assets acquired. The amount of goodwill deductible for tax purposes is $20.0 million.

The fair value of the trade names is comprised of $556.9 million of non-amortizable intangible assets and $67.2 million of amortizable intangible assets. We are amortizing the purchased amortizable intangible assets on a straight-line basis over an estimated weighted average useful life of 19.3 years. The weighted average remaining life for amortizable intangible assets at March 31, 2012 was 19.1 years.

The operating results of GSK Brands I have been included in our Consolidated Financial Statements from February 1, 2012, the day following the date of acquisition. Revenues of the acquired operations from February 1, 2012 through March 31, 2012 were $30.4 million and the net loss was $2.8 million. The operating results of GSK Brands II will be included in our Consolidated Financial Statements beginning April 1, 2012. Accordingly, we did not record any revenues or operating results in the accompanying Consolidated Financial Statements related to GSK Brands II.

Blacksmith Acquisition

On November 1, 2010, we acquired 100% of the capital stock of Blacksmith Brands Holdings, Inc. (“Blacksmith”) for $190.0 million in cash, plus a working capital adjustment of $13.4 million, and we paid an additional $1.1 million on behalf of Blacksmith for the seller's transaction costs. As previously disclosed, we brought to arbitration a matter regarding the working capital adjustment related to Blacksmith. On July 20, 2011, we received notification from the arbitrator that we would be awarded a working capital adjustment pending final resolution and distribution from the escrow agent. In September 2011, we received $1.2 million in settlement of this matter, which reduced the amount of recorded goodwill related to Blacksmith.

As a result of this acquisition, we acquired five leading consumer OTC brands: Efferdent, Effergrip, PediaCare, Luden's, and NasalCrom. The purchase price was funded by cash provided by the issuance of long-term debt and additional bank borrowings, which are discussed further in Note 10 to the Consolidated Financial Statements.

The acquisition was accounted for in accordance with the Business Combinations topic of the ASC, which requires that the total cost of an acquisition be allocated to the tangible and intangible assets acquired and liabilities assumed based upon their respective fair values at the date of acquisition.

The allocation of the purchase price to assets acquired and liabilities assumed is based on a valuation which we performed to determine the fair value of such assets as of the acquisition date. The following table summarizes our final allocation of the $203.4 million purchase price to the assets we acquired and liabilities assumed on the Blacksmith acquisition date:



(In thousands)	November 1, 2010
Cash acquired	$	2,507
Accounts receivable, net	17,473
Other receivables	1,198
Income taxes receivable	5
Inventories	22,155
Prepaids and other current assets	44
Property, plant and equipment, net	226
Goodwill	42,207
Trademarks	165,346
Other long-term assets	19
Total assets acquired	251,180

Accounts payable	7,060
Accrued expenses	5,212
Income taxes payable	2,031
Deferred income taxes	33,526
Total liabilities assumed	47,829

Total purchase price	$	203,351

We recorded goodwill based on the amount by which the purchase price exceeded the fair value of assets acquired and liabilities assumed. The amount of goodwill deductible for tax purposes is $4.6 million.

The fair value of the trademarks is comprised of $158.0 million of non-amortizable intangible assets and $7.3 million of amortizable intangible assets. We are amortizing the purchased amortizable intangible assets on a straight-line basis over an estimated weighted average useful life of 15 years. The weighted average remaining life for amortizable intangible assets at March 31, 2012 was 13.6 years.

The operating results of Blacksmith have been included in our Consolidated Financial Statements from November 1, 2010, the date of acquisition. Revenues of the acquired operations from November 1, 2010 through March 31, 2011 were $34.8 million and the net loss was $4.8 million.

The following table provides our combined unaudited pro forma revenues, income from continuing operations and income from continuing operations per basic and diluted common share as if the results of Blacksmith and the GSK Brands occurred on April 1, 2010. The pro forma results were prepared from financial information obtained from the sellers of the businesses, as well as information obtained during the due diligence processes associated with the acquisitions. The unaudited pro forma results reflect certain adjustments related to the acquisitions, such as increased depreciation and amortization expense resulting from the stepped-up basis to fair value of the assets acquired and adjustments to reflect the Company's borrowing and tax rates. This pro forma information is not necessarily indicative of either the combined results of operations that actually would have been realized by us had the acquisition of the Blacksmith and GSK brands been consummated at the beginning of the period for which the pro forma information is presented, or of future results.



	Year Ended March 31,
(In thousands, except per share data)	2012		2011
	(Unaudited)
Revenues	$	616,849	$	599,543
Income from continuing operations	69,989		34,913

Basic earnings per share:
Income from continuing operations	$	1.39	$	0.70

Diluted earnings per share:
Income from continuing operations	$	1.38	$	0.69

Dramamine Acquisition

On January 6, 2011, we acquired certain assets comprising the Dramamine brand in the United States. The purchase price was $77.1 million in cash, after a $0.1 million post-closing inventory adjustment and including transaction costs of $1.2 million incurred in the acquisition. The purchase price was funded by cash on hand.

In accounting for the acquisition of the Dramamine brand, we considered the Business Combinations topic of the ASC. Accordingly, as the Dramamine assets acquired do not constitute a business, as defined in the ASC, we have accounted for the transaction as an asset acquisition. The total consideration paid, including transaction costs, has been allocated to the tangible and intangible assets acquired based upon their relative fair values at the date of acquisition.

The allocation of the purchase price to assets acquired and liabilities assumed is based on valuations which we performed to determine the fair value of such assets as of the acquisition date. The following table summarizes our allocation of the $77.1 million purchase price to the assets we acquired comprising the Dramamine brand:



(In thousands)	January 6, 2011
Inventories	$	1,249
Trademark	75,866
Total purchase price	$	77,115

The $75.9 million fair value of the acquired Dramamine trademark was comprised solely of non-amortizable intangible assets.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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-Name Emerging Issues Task Force (EITF)

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Reference 12: http://www.xbrl.org/2003/role/presentationRef

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-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Appendix F

-Paragraph F4

-Subparagraph e

Reference 14: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Accounts Receivable

12 Months Ended

Mar. 31, 2012

Receivables [Abstract]

Accounts Receivable

Accounts receivable consist of the following:



(In thousands)	March 31,
	2012			2011
Components of Accounts Receivable
Trade accounts receivable	$	55,721		$	50,333
Other receivables	9,368			712
	65,089			51,045
Less allowances for discounts, returns and uncollectible accounts	(4,861		)	(6,652		)
Accounts receivable, net	$	60,228		$	44,393

As a result of our acquisition of the GSK brands and the related TSA, we will be receiving a net remittance from GSK for the revenues, expenses and inventory purchases that GSK has transacted on our behalf, net of the TSA fees that we would owe GSK. Accordingly, we have included in accounts receivable $8.4 million due from GSK as part of the TSA.

- Definition

The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3, 4

-Article 5

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-Number 210

-Section 03

-Paragraph 7

-Article 9

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-Publisher AICPA

-Name Statement of Position (SOP)

-Number 01-6

-Paragraph 13

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+ Details

Inventories

12 Months Ended

Mar. 31, 2012

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:



(In thousands)	March 31,
	2012		2011
Components of Inventories
Packaging and raw materials	$	1,189	$	1,287
Finished goods	49,924		38,464
Inventories	$	51,113	$	39,751

Inventories are carried and depicted above at the lower of cost or market, which includes a reduction in inventory values of $1.6 million and $0.6 million at March 31, 2012 and 2011, respectively, related to obsolete and slow-moving inventory.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

Property and Equipment

12 Months Ended

Mar. 31, 2012

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:



(In thousands)	March 31,
	2012			2011
Components of Property and Equipment
Machinery	$	1,454		$	1,215
Computer equipment	2,693			2,341
Furniture and fixtures	241			239
Leasehold improvements	436			423
	4,824			4,218
Accumulated depreciation	(3,520		)	(2,774		)
Property and equipment, net	$	1,304		$	1,444

We recorded depreciation expense of $0.7 million, $0.7 million, and $0.6 million for 2012, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Goodwill

12 Months Ended

Mar. 31, 2012

Goodwill [Abstract]

Goodwill

The following table summarizes the changes in the carrying value of goodwill by operating segment for each of 2010, 2011 and 2012:



(In thousands)	OTC Healthcare			Household Cleaning			Consolidated
Balance – March 31, 2009
Goodwill	$	234,270		$72,549			$306,819
Accumulated impairment losses	(127,419		)	(65,160		)	(192,579		)
Balance – March 31, 2009	106,851			7,389			114,240

2010 impairments	(2,751		)	—			(2,751		)

Balance – March 31, 2010
Goodwill	234,270			72,549			306,819
Accumulated impairment losses	(130,170		)	(65,160		)	(195,330		)
Balance – March 31, 2010	104,100			7,389			111,489

2011 additions	43,407			—			43,407

Balance – March 31, 2011
Goodwill	277,677			72,549			350,226
Accumulated impairment losses	(130,170		)	(65,160		)	(195,330		)
	147,507			7,389			154,896

2012 additions	20,006			—			20,006

Balance – March 31, 2012
Goodwill	297,683			72,549			370,232
Blacksmith escrow settlement*	(1,200		)	—			(1,200		)
Accumulated impairment losses	(130,170		)	(65,160		)	(195,330		)
	$	166,313		$	7,389		$	173,702

* As previously disclosed, we brought to arbitration a matter regarding the working capital adjustment related to Blacksmith. On July 20, 2011, we received notification from the arbitrator that we would be awarded a working capital adjustment pending final resolution and distribution from the escrow agent. In September 2011, we received $1.2 million in settlement of this matter, which reduced the amount of recorded goodwill related to Blacksmith.

On November 1, 2010, we acquired 100% of the capital stock of Blacksmith. In connection with this acquisition, we recorded goodwill of $42.2 million, net of the $1.2 million settlement noted above, based on the amount by which the purchase price exceeded the fair value of net assets acquired.

As discussed in Note 3, on January 31, 2012, we completed the acquisition of GSK Brands I for $615.0 million in cash, and on March 30, 2012, we completed the acquisition of GSK Brands II for $45.0 million in cash, subject to certain post-closing adjustments. We recorded a post-closing adjustment as of March 31, 2012, to reflect adjustments to certain inventory items and other current assets acquired. In connection with these acquisitions, we recorded goodwill of $20.0 million based on the amount by which the purchase price exceeded the fair value of assets acquired.

At March 31, 2012 and March 31, 2011, in conjunction with the annual test for goodwill impairment, there were no indicators of impairment under the analysis. Accordingly, no impairment charge was recorded in 2012 or in 2011.

At March 31, 2010, in conjunction with the annual test for goodwill, we recorded an impairment charge of $2.8 million to adjust the carrying amounts of goodwill related to the Cutex brand to its fair value, as determined by use of a discounted cash flow methodology. The impairment was a result of distribution losses and increased competition from private label store brands. Due to the sale of Cutex on September 1, 2010, this impairment charge is included in the loss from discontinued operations for the year ended March 31, 2010.

The discounted cash flow methodology is a widely-accepted valuation technique utilized by market participants in the transaction evaluation process and has been applied consistently. We also considered our market capitalization at March 31, 2012, 2011 and 2010, as compared to the aggregate fair values of our reporting units to assess the reasonableness of our estimates pursuant to the discounted cash flow methodology. Although the impairment charges in the prior years were a result of utilizing management’s best estimate of fair value, the estimates and assumptions made in assessing the fair value of the our reporting units and the valuation of the underlying assets and liabilities are inherently subject to significant uncertainties. Consequently, changing rates of interest and inflation, declining sales or margins, increases in competition, changing consumer preferences, technical advances or reductions in advertising and promotion may require additional impairments in the future.

As discussed in Note 1, in accordance with recent guidance from the FASB, an entity is permitted to first assess qualitative factors in testing goodwill for impairment prior to performing a quantitative assessment. The new guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. This new guidance will be effective for the Company in fiscal year 2013.

Intangible Assets

12 Months Ended

Mar. 31, 2012

Intangible Assets [Abstract]

Intangible Assets

A reconciliation of the activity affecting intangible assets for each of 2010, 2011 and 2012 is as follows:



(In thousands)	Year Ended March 31, 2010
	Indefinite Lived Trademarks			Finite Lived Trademarks			Non Compete Agreement		Totals
Gross Amount
Balance – March 31, 2009	$	500,176		$	106,159		$	158	$	606,493
Reclassifications	(45,605		)	45,605			—		—
Disposals	—			(500		)	—		(500		)
Balance – March 31, 2010 (including discontinuing operations)	454,571			151,264			158		605,993
Long-term assets of discontinued operations	—			(8,270		)	—		(8,270		)
Balance - March 31, 2010	$	454,571		$	142,994		$	158	$	597,723

Accumulated Amortization
Balance – March 31, 2009	$	—		$	37,214		$	142	$	37,356
Additions	—			9,725			16		9,741
Disposals	—			(333		)	—		(333		)
Balance – March 31, 2010 (including discontinued operations)	—			46,606			158		46,764
Long-term assets of discontinued operations	—			(3,400		)	—		(3,400		)
Balance - March 31, 2010	$	—		$	43,206		$	158	$	43,364

Intangibles, net – March 31, 2010	$	454,571		$	99,788		$	—	$	554,359



(In thousands)	Year Ended March 31, 2011
	Indefinite Lived Trademarks		Finite Lived Trademarks			Non Compete Agreement		Totals
Gross Amount
Balance – March 31, 2010 (including discontinued operations)	$	454,571	$	151,264		$	158	$	605,993
Additions	233,913		7,299			—		241,212
Disposals	—		(8,270		)	—		(8,270		)
Balance – March 31, 2011	$	688,484	$	150,293		$	158	$	838,935

Accumulated Amortization
Balance – March 31, 2010	$	—	$	46,606		$	158	$	46,764
Additions	—		9,210			—		9,210
Disposals	—		(3,400		)	—		(3,400		)
Balance – March 31, 2011	$	—	$	52,416		$	158	$	52,574

Intangibles, net – March 31, 2011	$	688,484	$	97,877		$	—	$	786,361



(In thousands)	Year Ended March 31, 2012
	Indefinite Lived Trademarks		Finite Lived Trademarks		Non Compete Agreement		Totals
Gross Amount
Balance – March 31, 2011	$	688,484	$	150,293	$	158	$	838,935
Additions	556,930		67,219		—		624,149
Disposals	—		—		—		—
Balance – March 31, 2012	$	1,245,414	$	217,512	$	158	$	1,463,084

Accumulated Amortization
Balance – March 31, 2011	$	—	$	52,416	$	158	$	52,574
Additions	—		9,988		—		9,988
Disposals	—		—		—		—
Balance – March 31, 2012	$	—	$	62,404	$	158	$	62,562

Intangibles, net – March 31, 2012	$	1,245,414	$	155,108	—		$	1,400,522

As discussed in Note 3, on January 31, 2012, we completed the acquisition of GSK Brands I for $615.0 million in cash. On March 30, 2012, we completed the acquisition of GSK Brands II for $45.0 million in cash. In connection with these acquisitions, we allocated $624.1 million of the purchase price to intangible assets.

On January 6, 2011, we acquired certain assets related to the Dramamine brand in the United States. In connection with this acquisition, we allocated $75.9 million of the purchase price to intangible assets.

On November 1, 2010, we acquired 100% of the capital stock of Blacksmith. In connection with this acquisition, we allocated $165.3 million of the purchase price to intangible assets, which are comprised of acquired trademarks. The allocation is based on valuations performed to determine the fair value of such assets as of the acquisition date.

We completed our test for impairment of its intangible assets during the fourth quarter of 2012, 2011 and 2010. For 2012, 2011 and 2010, we did not record any impairment charge as facts and circumstances indicated that the fair values of the intangible assets for such segments exceeded their carrying values. For 2009, we recorded an impairment charge aggregating $58.6 million to the OTC Healthcare and Household Cleaning segments as facts and circumstances indicated that the carrying values of the intangible assets for such segments exceeded their fair values and may not be recoverable.

The economic events experienced during 2009, as well as our plans and projections for our brands indicated that several of such brands could no longer support indefinite useful lives. Each of the brands that incurred an impairment charge during the three month period ended March 31, 2009 was adversely affected by increased competition and the macroeconomic environment in the United States. Consequently, at April 1, 2009, management reclassified $45.6 million of previously indefinite-lived intangibles to intangibles with definite lives. Management estimates the remaining useful lives of these intangibles to be 20 years.

The carrying value as of March 31, 2009 and the annual amortization charges by operating segment of the reclassified intangibles were as follows (in thousands):



Intangible	Carrying Value as of March 31, 2009		Annual Amortization
Household Cleaning Trademarks	$	34,888	$	1,745
OTC Healthcare Trademarks	10,717		536
	$	45,605	$	2,281

The weighted average remaining life for finite-lived intangible assets at March 31, 2012 was approximately 16.3 years and the amortization expense for the year ended March 31, 2012 was $10.0 million. At March 31, 2012, finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 3 to 30 years and the estimated amortization expense for each of the five succeeding years and periods thereafter is as follows (in thousands):



Year Ending March 31,
2013	$	12,029
2014	10,898
2015	9,563
2016	9,563
2017	9,563
Thereafter	103,493
	$	155,109

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References+ Details

Long-Term Debt

12 Months Ended

Mar. 31, 2012

Long-term Debt, Unclassified [Abstract]

Long-Term Debt

On March 24, 2010, Prestige Brands, Inc. issued $150.0 million of 2010 Senior Notes, with an interest rate of 8.25% and a maturity date of April 1, 2018. On November 1, 2010, Prestige Brands, Inc. issued an additional $100.0 million of the 2010 Senior Notes. The Company may earlier redeem some or all of the 2010 Senior Notes at redemption prices set forth in the indenture governing the 2010 Senior Notes (the "Senior Notes Indenture"). The 2010 Senior Notes are unconditionally guaranteed by Prestige Brands

Holdings, Inc. and its domestic 100% owned subsidiaries other than Prestige Brands, Inc., the issuer. Each of these guarantees is joint and several. There are no significant restrictions on the ability of any of the guarantors to obtain funds from their subsidiaries. The 2010 Senior Notes issued in March and November were issued at an aggregate face value of $150.0 million and $100.0 million, respectively, with a discount to the initial purchasers of $2.2 million and a premium of $0.3 million, respectively, and net proceeds to the Company of $147.8 million and $100.3 million, respectively, yielding an 8.5% effective interest rate.

On March 24, 2010, Prestige Brands, Inc. entered into the 2010 Senior Term Loan for $150.0 million, with an interest rate at LIBOR plus 3.25% with a LIBOR floor of 1.5% and a maturity date of March 24, 2016. The $150.0 million 2010 Senior Term Loan was entered into with a discount to lenders of $1.8 million and net proceeds to the Company of $148.2 million, yielding a 5.0% effective interest rate. On November 1, 2010, we, together with the Borrower and certain of our other subsidiaries, executed an Increase Joinder to our Credit Agreement dated March 24, 2010 (the "Increase Joinder"), pursuant to which the Borrower entered into an incremental term loan in the amount of $115.0 million. The incremental 2010 Senior Term Loan was scheduled to mature on March 24, 2016 and was repaid in full on January 31, 2012 with the entry into the new senior secured credit facilities described below. In connection with the refinancing and the payoff of the 2010 Senior Term Loan, we recognized a $5.4 million loss on the extinguishment of debt for 2012. The 2010 Senior Term Loan was unconditionally guaranteed by Prestige Brands Holdings, Inc. and its domestic 100% owned subsidiaries, other than Prestige Brands, Inc. (the "Borrower").

Additionally, on March 24, 2010, Prestige Brands, Inc. entered into a non-amortizing senior secured revolving credit facility (“2010 Revolving Credit Facility” and, collectively with the 2010 Senior Term Loan, the “2010 Credit Agreement”) in an aggregate principal amount of up to $30.0 million. On November 1, 2010, pursuant to the Increase Joinder, the amount of the 2010 Revolving Credit Facility was increased by $10.0 million and the Borrower had borrowing capacity under the 2010 Revolving Credit Facility in an aggregate principal amount of up to $40.0 million. On January 31, 2012, in connection with the entry into new senior secured credit facilities as described below, Prestige Brands terminated the 2010 Credit Agreement. There were no material early termination penalties as a result of the termination of the 2010 Credit Agreement.

On January 31, 2012, Prestige Brands, Inc. issued $250.0 million of 2012 Senior Notes, with an interest rate of 8.125% and a maturity date of February 1, 2020. We may earlier redeem some or all of the 2012 Senior Notes at redemption prices set forth in the indenture governing the 2012 Senior Notes. The 2012 Senior Notes are guaranteed by Prestige Brands Holdings, Inc. and certain of its domestic 100% owned subsidiaries. Each of these guarantees is joint and several. There are no significant restrictions on the ability of any of the guarantors to obtain funds from their subsidiaries.

On January 31, 2012, Prestige Brands Inc. also entered into a New Senior Secured Credit Facility which consists of (i) a $660.0 million term loan facility (“2012 Term Loan”) with a seven-year maturity and (ii) a $50.0 million asset-based revolving credit facility (“2012 ABL Revolver”) with a five-year maturity. The 2012 Term Loan was issued with an original issue discount of 1.5% of the principal amount thereof, resulting in net proceeds to Prestige Brands of $650.1 million.

The 2012 Term Loan is unconditionally guaranteed by Prestige Brands Holdings, Inc. and its domestic 100% owned subsidiaries, other than Prestige Brands, Inc. Each of these guarantees is joint and several. There are no significant restrictions on the ability of any of the guarantors to obtain funds from their subsidiaries.

The 2012 Term Loan bears interest at a rate per annum equal to an applicable margin plus, at our option, either (i) a base rate determined by reference to the highest of (a) the Federal Funds rate plus 0.50%, (b) the prime rate of Citibank, N.A., (c) the LIBOR rate determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00% and (d) a floor of 2.25% or (ii) a LIBOR rate determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs provided that LIBOR shall not be lower than 1.25%. At March 31, 2012, the average interest rate on the 2012 Term Loan was 5.5%.

Borrowings under the 2012 ABL Revolver bear interest at a rate per annum equal to an applicable margin, plus, at our option, either (i) a base rate determined by reference to the highest of (a) the Federal Funds rate plus 0.50%, (b) the prime rate of Citibank, N.A., (c) the LIBOR rate determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00% or (ii) a LIBOR rate determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs. The initial applicable margin for borrowings under the 2012 ABL Revolver is 1.75% with respect to LIBOR borrowings and 0.75% with respect to base-rate borrowings. The applicable margin for borrowings under the 2012 ABL Revolver may be increased to 2.00% or 2.25% for LIBOR borrowings and 1.00% or 1.25% for base-rate borrowings, depending on average excess availability under such revolving credit facility during the prior fiscal quarter. In addition to paying interest on outstanding principal under the 2012 ABL Revolver, we are required to pay a commitment fee to the lenders under the 2012 ABL Revolver in respect of the unutilized commitments thereunder. The initial commitment fee rate is 0.50% per annum. The commitment fee rate will be reduced to 0.375% per annum at any time when the average daily unused commitments for the prior quarter is less than a percentage of total commitments in an amount set forth in the credit agreement covering the 2012 ABL Revolver.

Under the 2012 Term Loan, we will be required to make quarterly payments each equal to 0.25% of the original principal amount of the term loan made on the closing date, with the balance expected to be due on the seventh anniversary of the closing date. However, since we made a $25.0 million payment in March 2012, we will not be required to make a quarterly payment until the fourth quarter of 2016. For the 2012 ABL Revolver, in addition to paying interest on outstanding principal, we will be required to pay a commitment fee to the lenders in respect of the unutilized commitments thereunder, with an initial rate of 0.50% per annum, and which can be reduced at any time under certain conditions as defined in the agreement. We may voluntarily repay outstanding loans under the 2012 ABL Revolver at any time without a premium or penalty.

We used the net proceeds from the 2012 Senior Notes offering, together with borrowings under the 2012 Term Loan to finance the acquisition of 17 North American over-the-counter brands from GSK and its affiliates, to repay our existing senior secured credit facilities, to pay fees and expenses incurred in connection with these transactions and for general corporate purposes. The acquisition is discussed in Note 3 to the Consolidated Financial Statements.

In connection with the financing activities of March 2010 relating to the 2010 Senior Notes, the 2010 Senior Term Loan and the 2010 Revolving Credit Facility, we incurred $7.3 million in issuance costs, of which $6.6 million was capitalized as deferred financing costs and $0.7 million was expensed. In connection with the financing activities of November 2010 relating to the 2010 Senior Notes, the 2010 Senior Term Loan and the 2010 Revolving Credit Facility, we incurred $0.6 million in issuance costs, all of which was capitalized as deferred financing costs.

In connection with the financing activities of January 2012 relating to the 2012 Senior Notes, the 2012 Term Loan and the 2012 ABL Revolver, we incurred $12.6 million, $18.8 million and $1.8 million, respectively, in issuance costs, which were capitalized as deferred financing costs. The deferred financing costs are being amortized over the terms of the related loan and notes.

On March 24, 2010, we retired our existing Senior Secured Term Loan facility with an original maturity date of April 6, 2011. In addition, on March 24, 2010, we repaid a portion and, on April 15, 2010, redeemed in full the remaining outstanding indebtedness under our previously outstanding Senior Subordinated Notes due in 2012, which bore interest at 9.25% with a maturity date of April 15, 2012. In connection with the refinancing, we recognized a $0.3 million loss on the extinguishment of debt for 2011.

The 2010 Senior Notes and 2012 Senior Notes are senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis. The 2010 Senior Notes are effectively junior in right of payment to all existing and future secured obligations of the Company with exception of the 2012 Senior Notes, equal in right of payment with all existing and future senior unsecured indebtedness of the Company, and senior in right of payment to all future subordinated debt of the Company. The 2012 Senior Notes are effectively subordinated to secured obligations of the Company including the New Senior Secured Credit Facilities and the 2010 Senior Notes, equal in right of payment to all existing and future unsecured obligations of the Company, and senior in right of payment to all existing and future obligations of the Company.

At any time prior to April 1, 2014, we may redeem the 2010 Senior Notes in whole or in part at a redemption price equal to 100% of the principal amount of the notes redeemed, plus a “make-whole premium” calculated as set forth in the Senior Notes Indenture, together with accrued and unpaid interest, if any, to the date of redemption. We may redeem the 2010 Senior Notes in whole or in part at any time on or after the 12-month period beginning April 1, 2014 at a redemption price of 104.125% of the principal amount thereof, at a redemption price of 102.063% of the principal amount thereof if the redemption occurs during the 12-month period beginning on April 1, 2015, and at a redemption price of 100% of the principal amount thereof if the redemption occurs on and after April 1, 2016, in each case, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to April 1, 2013, with the net cash proceeds from certain equity offerings, we may redeem up to 35% in aggregate principal amount of the 2010 Senior Notes at a redemption price of 108.250% of the principal amount of the 2010 Senior Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date.

At any time prior to February 1, 2016, we may redeem the 2012 Senior Notes in whole or in part at a redemption price equal to 100% of the principal amount of the notes redeemed, plus a "make-whole premium" calculated as set forth in the Senior Notes Indenture, together with accrued and unpaid interest, if any, to the date of redemption. On or after February 1, 2016, we may redeem the 2012 Senior Notes in whole or in part at redemption prices set forth in the Indenture. In addition, at any time prior to February 1, 2015, we may redeem up to 35% of the aggregate principal amount of the 2012 Senior Notes at a redemption price equal to 108.125% of the principal amount plus accrued and unpaid interest to the redemption date, with the net cash proceeds of certain equity offerings, provided that certain conditions are met. Subject to certain limitations, in the event of a change of control, as defined in the Indenture, Prestige Brands, Inc. will be required to make an offer to purchase the 2012 Senior Notes at a price equal to 101% of the aggregate principal amount of the 2012 Senior Notes repurchased, plus accrued and unpaid interest, if any, to the date of repurchase.

The Senior Notes Indentures contain provisions that restrict us from undertaking specified corporate actions, such as asset dispositions, acquisitions, dividend payments, repurchases of common shares outstanding, changes of control, incurrences of indebtedness, issuance of equity, creation of liens, making of loans and transactions with affiliates. Additionally, the Credit Agreement and the Senior Notes Indenture contain cross-default provisions whereby a default pursuant to the terms and conditions of certain indebtedness will cause a default on the remaining indebtedness under the Credit Agreement and the Senior Notes Indenture. At March 31, 2012, we were in compliance with the covenants under our long-term indebtedness.

During the year ended March 31, 2012, we made voluntary principal payments against outstanding indebtedness of $58.0 million in excess of required payments under the Credit Agreement governing the 2010 Senior Term Loan and $25.0 million against the 2012 Term Loan. The 2010 Senior Term Loan was repaid in full on January 31, 2012.

Long-term debt consists of the following, as of the dates indicated:



(In thousands, except percentages)	March 31,
	2012			2011
2012 Senior Notes bear interest at 8.125%, with interest only payable on February 1 and August 1 of each year. The 2012 Senior Notes mature on February 1, 2020.	$250,000			$	—
2012 Term Loan bears interest at the Company's options at either a base rate plus applicable margin with a floor of 2.25% or LIBOR with a floor of 1.25%. Quarterly payments each equal to 0.25% of the original principal amount of the term loans are due, with the balance expected to be due on January 31, 2019.	635,000			—
2010 Senior Term Loan bore interest at the Company’s option at either the prime rate plus a margin of 2.25% or LIBOR plus 3.25% with a LIBOR floor of 1.5%. The outstanding balance on the 2010 Senior Term Loan was repaid in full on January 31, 2012.	—			242,000
2010 Senior Notes bear interest at 8.25%, with interest only payable on April 1st and October 1st of each year. The 2010 Senior Notes mature on April 1, 2018.	250,000			250,000
	1,135,000			492,000
Current portion of long-term debt	—			—
	1,135,000			492,000
Less: unamortized discount	(11,092		)	(5,055		)
Long-term debt, net of unamortized discount	$	1,123,908		$	486,945

Future principal payments required in accordance with the terms of the 2012 Term Loan and the Senior Notes Indentures are as follows (in thousands):



Year Ending March 31,	Amount
2013	$	—
2014	—
2015	—
2016	1,400
2017	6,600
Thereafter	1,127,000
	$	1,135,000

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Mar. 31, 2012
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements As we deem appropriate, we may from time to time utilize derivative financial instruments to mitigate the impact of changing interest rates associated with our long-term debt obligations or other derivative financial instruments. While we have utilized derivative financial instruments in the past, we did not have any derivative financial instruments outstanding at March 31, 2012 or 2011. We recorded a charge to interest expense of $2.9 million during 2010 in connection with an interest rate swap agreement. We have not entered into derivative financial instruments for trading purposes; all of our derivatives were over-the-counter instruments with liquid markets. For certain of our financial instruments, including cash, accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their respective fair values due to the relatively short maturity of these amounts. The Fair Value Measurements and Disclosures topic of the FASB ASC requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market assuming an orderly transaction between market participants. The Fair Value Measurements and Disclosures topic established market (observable inputs) as the preferred source of fair value to be followed by the Company's assumptions of fair value based on hypothetical transactions (unobservable inputs) in the absence of observable market inputs. Based upon the above, the following fair value hierarchy was created: Level 1 - Quoted market prices for identical instruments in active markets; Level 2 - Quoted prices for similar instruments in active markets, as well as quoted prices for identical or similar instruments in markets that are not considered active; and Level 3 - Unobservable inputs developed by the Company using estimates and assumptions reflective of those that would be utilized by a market participant. The market values have been determined based on market values for similar instruments adjusted for certain factors. As such, the 2012 Term Loan, the 2012 Senior Notes and the 2010 Senior Notes are measured in Level 2 of the above hierarchy. At March 31, 2012 and 2011, we did not have any assets or liabilities measured in Level 2 or 3. During 2012, 2011 and 2010, there were no transfers of assets or liabilities between Levels 1, 2 and 3. At March 31, 2012, the carrying value and the market value of our 2012 Senior Notes were $250.0 million and $270.6 million, respectively, at March 31, 2012. At March 31, 2012, the carrying value and the market value of the 2012 Term Loan were $635.0 million and $639.0 million, respectively, at March 31, 2012. At March 31, 2012 and March 31, 2011, the carrying value of our 2010 Senior Notes was $250.0 million and $250.0 million, respectively. The market value of these notes was approximately $272.5 million and $264.4 million at March 31, 2012 and March 31, 2011, respectively. At March 31, 2011, the carrying value and the market value of the 2010 Term Loan was $242.0 million and $243.4 million, respectively. During the year ended March 31, 2012 we repaid the 2010 Term Loan in full.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13504-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44A, 44B

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15C, 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15A

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15B

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 3, 10, 14, 15

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32, 33, 34

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-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 17-22, 27, 28

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

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Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 21

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Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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+ Details

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Mar. 31, 2012
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity We are authorized to issue 250.0 million shares of common stock, $0.01 par value per share, and 5.0 million shares of preferred stock, $0.01 par value per share. The Board of Directors may direct the issuance of the undesignated preferred stock in one or more series and determine preferences, privileges and restrictions thereof. Each share of common stock has the right to one vote on all matters submitted to a vote of stockholders. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Board of Directors, subject to prior rights of holders of all classes of stock outstanding having priority rights as to dividends. No dividends have been declared or paid on our common stock through March 31, 2012, except as described below. Effective February 26, 2012, our Board of Directors adopted a stockholder rights plan (the "Rights Plan"). Pursuant to the Rights Plan, the Board of Directors declared a dividend distribution of one preferred share right (a "Right") for each share of common stock held as of March 8, 2012. Each Right entitles the holder to purchase one one-thousandth of a share of Series A Preferred Stock (the "Preferred Shares") at an initial exercise price of $65.00, subject to dilution adjustments for dividends payable in Preferred Shares or other such events. The Rights Plan is intended to ensure that all of our stockholders receive fair and equal treatment in the event of any proposed takeover of the Company and to protect stockholders' interests in the event we are confronted with partial tender offers or other coercive or unfair takeover tactics. The Rights become exercisable after ten days following the acquisition by an acquiring person or group of 10% or more of our outstanding common stock (“Acquisition Event”). If such acquiring person or group acquires 10% or more of the common stock, each Right (other than such acquiring person's or group's Rights, whose Rights become void upon exceeding the 10% threshold) will entitle the holder to purchase, at the exercise price, common stock having a market value equal to twice the exercise price of the Right. The Rights Plan and the Rights will expire on the date of the 2013 Annual Stockholders' Meeting if the plan is not approved by the stockholders. If approved by the stockholders, the Rights Plan and the Rights will expire on February 26, 2022, unless an Acquisition Event occurs earlier. Subject to the provisions of the Rights Plan, at the Company's option, the Rights may be redeemed by the Company at an initial cash redemption price of $0.01 per Right or may be exchanged in whole or in part for one share of the Company's common stock, or one one-thousandth of a share of Preferred Share. During March 2012, we recorded a charge against retained earnings in the amount of $283 related to the fair value of the rights as of the dividend date. For any right that expires unredeemed, the appropriate charge to retained earnings will be reversed. During 2012, 2011 and 2010, we repurchased 21, 36 and zero shares, respectively, of restricted common stock from current and former employees pursuant to the provisions of the various employee stock purchase agreements. The purchases were at an average price of $12.86 per share for 2012 and $9.81 per share for 2011. All of such shares have been recorded as treasury stock.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

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Reference 14: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 20: http://www.xbrl.org/2003/role/presentationRef

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-Name Regulation S-X (SX)

-Number 210

-Section 08

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Reference 21: http://www.xbrl.org/2003/role/presentationRef

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-Name Statement of Financial Accounting Standard (FAS)

-Number 5

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef

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-Name Regulation S-X (SX)

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Reference 23: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

+ Details

Earnings Per Share

12 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted-average number of shares of common stock outstanding plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method, which includes stock options, restricted stock awards, and restricted stock units. The following table sets forth the computation of basic and diluted earnings per share:



(In thousands, except per share data)	Year Ended March 31,
	2012		2011		2010
Numerator
Income from continuing operations	$	37,212	$	29,179	$	32,070
Income from discontinued operations and gain on sale of discontinued operations	—		41		45
Net income	$	37,212	$	29,220	$	32,115

Denominator
Denominator for basic earnings per share- weighted average shares	50,270		50,081		50,013
Dilutive effect of unvested restricted common stock (including restricted stock units), options and stock appreciation rights issued to employees and directors	478		257		72
Denominator for diluted earnings per share	50,748		50,338		50,085

Earnings per Common Share:
Basic earnings per share from continuing operations	$	0.74	$	0.58	$	0.64
Basic earnings per share from discontinued operations and gain on sale of discontinued operations	—		—		—
Basic net earnings per share	$	0.74	$	0.58	$	0.64

Diluted earnings per share from continuing operations	$	0.73	$	0.58	$	0.64
Diluted earnings per share from discontinued operations and gain on sale of discontinued operations	—		—		—
Diluted net earnings per share	$	0.73	$	0.58	$	0.64

At March 31, 2012, 2011 and 2010, there were zero, zero and 0.1 million shares of restricted stock awards that have been excluded from the computation of basic earnings per share as these awards were subject to contingencies that were not met as of the end of each respective period. Additionally, for 2012, 2011 and 2010 there were 0.4 million, 0.5 million and 1.3 million shares attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Share-Based Compensation

12 Months Ended

Mar. 31, 2012

Share-based Compensation [Abstract]

Share-Based Compensation

In connection with our initial public offering, the Board of Directors adopted the 2005 Long-Term Equity Incentive Plan (the “Plan”) which provides for the grant, to a maximum of 5.0 million shares of restricted stock, stock options, restricted stock units and other equity-based awards. Directors, officers and other employees of the Company and its subsidiaries, as well as others performing services for the Company, are eligible for grants under the Plan.

During 2012, pre-tax share-based compensation costs charged against income and the related income tax benefit recognized were $3.1 million and $1.2 million, respectively. During the year management determined that performance goals associated with the grants of stock to management and employees in May 2008 were met and recorded stock compensation costs accordingly. No prior compensation costs were required to be reversed.

During 2011, pre-tax share-based compensation costs charged against income and the related income tax benefit recognized were $3.6 million and $1.4 million, respectively. During the year management determined that performance goals associated with the grants of stock to management and employees in May 2008 were met and recorded stock compensation costs accordingly. No prior compensation costs were required to be reversed.

During 2010, pre-tax share-based compensation costs charged against income and the related income tax benefit recognized were $2.1 million and $0.8 million, respectively. During the year management determined that performance goals associated with the grants of stock to management and employees in May 2008 were met and recorded stock compensation costs accordingly. No prior compensation costs were required to be reversed.

Restricted Shares

Restricted shares granted to employees under the Plan generally vest in three to five years, contingent on the attainment of certain performance goals of the Company, including revenue and earnings before income taxes, depreciation and amortization targets, or the attainment of certain time vesting thresholds. The restricted share awards provide for accelerated vesting if there is a change of control, as defined in the Plan. On January 25, 2012, the Compensation Committee of our Board of Directors granted 95,000 shares of restricted stock units to certain members of executive management. The restricted stock units will vest in equal annual installments over a three year period on the anniversary date of the grants. The grant-date fair value of restricted shares is determined using the closing price of our common stock on the day preceding the grant date. The weighted-average grant-date fair value during 2012, 2011 and 2010 was $11.81, $8.99 and $7.09, respectively.

A summary of the Company’s restricted shares granted under the Plan is presented below:



Nonvested Shares	Shares (in thousands)		Weighted-Average Grant-Date Fair Value

Nonvested at March 31, 2009	342.4		$	11.31

Granted	171.6		7.09
Vested	(47.8	)	10.97
Forfeited	(179.1	)	11.28
Nonvested at March 31, 2010	287.1		8.86

Granted	125.0		8.99
Vested	(88.2	)	9.63
Forfeited	(48.5	)	10.10
Vested and nonvested at March 31, 2011	275.4		8.46
Vested at March 31, 2011	29.2		6.84

Granted	217.5		11.81
Vested	(103.4	)	9.93
Forfeited	(26.1	)	10.17
Vested and nonvested at March 31, 2012	363.4		9.92
Vested at March 31, 2012	54.0		7.40

Options

The Plan provides that the exercise price of options granted shall be no less than the fair market value of the Company's common stock on the date the options are granted. Options granted have a term of no greater than 10 years from the date of grant and vest in accordance with a schedule determined at the time the option is granted, generally three to five years. The option awards provide for accelerated vesting in the event of a change in control, as defined in the Plan.

The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model that uses the assumptions noted in the table below. Expected volatilities are based on the historical volatility of our common stock. We use appropriate historical data, as well as current data, to estimate option exercise and employee termination behaviors. Employees that are expected to exhibit similar exercise or termination behaviors are grouped together for the purposes of valuation. The expected terms of the options granted are derived from our historical experience and management’s estimates and represent the period of time that options granted are expected to be outstanding. The risk-free rate represents the yield on U.S. Treasury bonds with a maturity equal to the expected term of the granted option. The weighted-average grant-date fair value of the options granted during 2012, 2011 and 2010 were $5.83, $4.91 and $3.64, respectively.



	Year Ended March 31,
	2012		2011
Expected volatility	53.0	%	52.8	%
Expected dividends	—		—
Expected term in years	6.5		7.0
Risk-free rate	2.4	%	3.2	%

A summary of option activity under the Plan is as follows:



Options	Shares (in thousands)		Weighted-Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)

Outstanding at March 31, 2009	662.6		$	11.65

Granted	1,125.0		7.16
Exercised	—		—
Forfeited or expired	(203.4	)	11.34
Outstanding at March 31, 2010	1,584.2		8.50

Granted	418.6		9.26
Exercised	(33.8	)	9.79
Forfeited or expired	(347.5	)	10.74
Outstanding at March 31, 2011	1,621.5		8.19

Granted	308.2		11.27
Exercised	(86.9	)	10.24
Forfeited or expired	(97.4	)	11.57
Outstanding at March 31, 2012	1,745.4		8.44		7.6	$	15,772

Exercisable at March 31, 2012	657.2		8.37		7.1	5,985

The aggregate intrinsic value of options exercised during 2012 was $0.2 million. The aggregate intrinsic value at March 31, 2012 for options granted during 2012 was $1.9 million. The weighted-average fair value per option at the grant date was $5.83 for 2012.

At March 31, 2012, there were $3.5 million of unrecognized compensation costs related to nonvested share-based compensation arrangements under the Plan, based on management’s estimate of the shares that will ultimately vest. We expect to recognize such costs over a weighted-average period of 1.0 years. The total fair value of options and restricted shares vested during 2012, 2011 and 2010, was $2.9 million, $2.3 million and $0.5 million, respectively. Cash received from the exercise of stock options was $0.6 million during 2012 and we realized $0.3 million in tax benefits for the tax deductions resulting from option exercises. Cash received from the exercise of stock options was $0.3 million during 2011 and we realized $0.2 million in tax benefits for the tax deductions resulting from option exercises. There were no options exercised during 2010 and therefore, we did not realize any tax benefits during this period associated with option exercises. At March 31, 2012, there were 2.5 million shares available for issuance under the Plan.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64, 65, A240

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 93-6

-Paragraph 53

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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+ Details

Income Taxes

12 Months Ended

Mar. 31, 2012

Income Tax Disclosure [Abstract]

Income Taxes

The provision for income taxes from continuing operations consists of the following:



(In thousands)	Year Ended March 31,
	2012		2011		2010
Current
Federal	$	8,127	$	8,793	$	10,837
State	1,396		1,496		1,492
Foreign	630		522		415
Deferred
Federal	13,100		7,211		6,418
State	692		1,327		1,502
Total provision for income taxes from continuing operations	$	23,945	$	19,349	$	20,664

The principal components of our deferred tax balances are as follows:



(In thousands)	March 31,
	2012			2011
Deferred Tax Assets
Allowance for doubtful accounts and sales returns	$	1,931		$	2,701
Inventory capitalization	1,184			812
Inventory reserves	635			260
Net operating loss carryforwards	495			579
Property and equipment	—			—
State income taxes	7,103			7,089
Accrued liabilities	1,762			1,768
Stock compensation	2,536			3,003
Other	1			136
Total deferred tax assets	15,647			16,348

Deferred Tax Liabilities
Property and equipment	(155		)	(65		)
Intangible assets	(177,926		)	(164,924		)
Total deferred tax liabilities	(178,081		)	(164,989		)

Net deferred tax liability	$	(162,434	)	$	(148,641	)

At March 31, 2012, a wholly-owned subsidiary had a net operating loss carryforward of approximately $1.4 million which may be used to offset future taxable income of the consolidated group and begins to expire in 2020. The net operating loss carryforward is subject to an annual limitation as to usage under Internal Revenue Code Section 382 of approximately $0.2 million.

A reconciliation of the effective tax rate compared to the statutory U.S. Federal tax rate is as follows:



	Year Ended March 31,
(In thousands)	2012					2011					2010
				%					%					%
Income tax provision at statutory rate	$	21,405		35.0		$	17,008		35.0		$	19,069		35.0
Foreign tax (benefit) provision	191			0.3		(42		)	(0.1	)	(36		)	(0.1	)
State income taxes, net of federal income tax benefit	2,073			3.4		1,615			3.3		1,662			3.1
(Decrease) increase in net deferred tax liability resulting from a change in the effective state tax rate	(1,177		)	(1.9	)	302			0.6		597			1.1
Goodwill	—			—		—			—		1,039			1.9
Nondeductible compensation	1,305			2.1		—			—		—			—
Transaction costs	—			—		367			0.8		—			—
Other	148			0.3		124			0.3		39			0.1
Total provision for income taxes	23,945			39.2		19,374			39.9		22,370			41.1
Amount included in discontinued operations	—			—		25			38.2		1,706			97.5
Provision for income taxes from continuing operations	$	23,945		39.2		$	19,349		39.9		$	20,664		39.2

Uncertain tax liability activity is as follows:



	2012			2011
(In thousands)
Balance – beginning of year	$	456		315
Additions based on tax positions related to the current year	45			141
Reductions based on lapse of statute of limitations	(209		)	—
Balance – end of year	$	292		$	456

We recognize interest and penalties related to uncertain tax positions as a component of income tax expense. We did not incur any material interest or penalties related to income taxes in any of the periods presented. We do not anticipate any events or circumstances that would cause a material change to these uncertainties during the ensuing year. We are subject to taxation in the United States and various state and foreign jurisdictions and we are generally open to examination from the year ended March 31, 2009 forward.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

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+ Details

Commitments and Contingencies

12 Months Ended

Mar. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

We are involved from time to time in routine legal matters and other claims incidental to our business. We review outstanding claims and proceedings internally and with external counsel as necessary to assess probability and amount of potential loss. These assessments are re-evaluated at each reporting period and as new information becomes available to determine whether a reserve should be established or if any existing reserve should be adjusted. The actual cost of resolving a claim or proceeding ultimately may be substantially different than the amount of the recorded reserve. In addition, because it is not permissible under GAAP to establish a litigation reserve until the loss is both probable and estimable, in some cases there may be insufficient time to establish a reserve prior to the actual incurrence of the loss (upon verdict and judgment at trial, for example, or in the case of a quickly negotiated settlement). We believe the resolution of routine matters and other incidental claims, taking our reserves into account, will not have a material adverse effect on our business, financial condition or results from operations.

Lease Commitments

We have operating leases for office facilities and equipment in New York and Wyoming, which expire at various dates through 2014.

The following summarizes future minimum lease payments for our operating leases:



(In thousands)	Facilities		Equipment		Total
Year Ending March 31,
2013	$	1,087	$	50	$	1,137
2014	719		23		742
2015	56		—		56
2016	—		—		—
2017	—		—		—
	$	1,862	$	73	$	1,935

Rent expense was $0.9 million for 2012 and $0.8 million for each of 2011 and 2010.

Purchase Commitments

We have entered into a ten year supply agreement for the exclusive manufacture of a portion of one of our Household Cleaning products. Although we are committed under the supply agreement to pay the minimum amounts set forth in the table below, the total commitment is less than ten percent of the estimated purchases that we expect to make during the course of the agreement.



(In thousands)
Year Ending March 31,
2013	$	1,166
2014	1,136
2015	1,105
2016	1,074
2017	1,044
Thereafter	2,555
	$	8,080

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

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+ Details

Concentrations of Risk	12 Months Ended
Concentrations of Risk	Mar. 31, 2012
Risks and Uncertainties [Abstract]
Concentrations of Risk	Concentrations of Risk Our sales are concentrated in the areas of OTC Healthcare and Household Cleaning products. We sell our products to mass merchandisers, food and drug accounts, and dollar and club stores. During 2012, 2011 and 2010, approximately 51.3%, 63.3% and 66.6%, respectively, of our total sales were derived from our five top selling brands brands. One customer, Walmart, accounted for more than 10% of our gross revenues for each of the periods presented. During 2012, 2011 and 2010, Walmart accounted for approximately 18.9%, 20.3% and 24.4%, respectively, of our gross revenues. At March 31, 2012, approximately 22.3% of accounts receivable were owed by the same customer. We manage product distribution in the continental United States through a third-party distribution center in St. Louis, Missouri. A serious disruption, such as a flood or fire, to the main distribution center could damage our inventories and could materially impair our ability to distribute our products to customers in a timely manner or at a reasonable cost. We could incur significantly higher costs and experience longer lead times associated with the distribution of our products to our customers during the time that it takes us to reopen or replace our distribution center. As a result, any such disruption could have a material adverse effect on our sales and profitability. At March 31, 2012, we had relationships with 42 third-party manufacturers. Of those, we had long-term contracts with 20 manufacturers that produced items that accounted for approximately 70.6% of our gross sales for 2012 compared to 11 manufactures with long-term contracts that accounted for approximately 52.9% of gross sales in 2011. The fact that we do not have long-term contracts with certain manufacturers means that they could cease manufacturing these products at any time and for any reason, or initiate arbitrary and costly price increases which could have a material adverse effect on our business, financial condition and results from operations.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher AICPA

-Name Statement of Position (SOP)

-Number 94-6

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+ Details

Business Segments

12 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

Business Segments

Segment information has been prepared in accordance with Segment Reporting topic of the FASB ASC and includes certain information that our chief operating decision maker, the Company's Chief Executive Officer, reviews including contribution margin, which is a non-GAAP financial measure. Contribution margin is defined as gross profit less advertising and promotional expenses. Our general and administrative expenses and other corporate-level activity is not allocated to our segments including costs of: employee related costs; legal; finance; information technology; corporate development; legal settlements; depreciation and amortization; and facility and insurance costs. As described in Note 2, on September 1, 2010, we sold certain assets related to the Cutex nail polish remover brand included in our previously reported Personal Care segment to an unrelated third party. The assets sold comprised a substantial majority of the assets in our previously reported Personal Care segment. The remaining assets and revenues generated do not constitute a reportable segment under the Segment Reporting topic of the FASB ASC. Therefore, we reclassified the remaining assets and results of the Personal Care segment to the OTC Healthcare segment for all periods presented. Our current operating and reportable segments now consist of (i) OTC Healthcare and (ii) Household Cleaning.

There were no inter-segment sales or transfers during any of the periods presented. We evaluate the performance of our operating segments and allocate resources to them based primarily on contribution margin.

The table below summarizes information about our operating and reportable segments.



	Year Ended March 31, 2012
	OTC Healthcare		Household Cleaning		Consolidated
(In thousands)
Net sales	$	344,282	$	93,556	$	437,838
Other revenues	719		2,528		3,247
Total revenues	345,001		96,084		441,085
Cost of sales	143,151		70,550		213,701
Gross profit	201,850		25,534		227,384
Advertising and promotion	51,895		5,232		57,127
Contribution margin	$	149,955	$	20,302	170,257
Other operating expenses					67,434
Operating income					102,823
Other expenses					41,666
Provision for income taxes					23,945
Income from continuing operations					37,212
Income from discontinued operations, net of income tax					—
Loss on sale of discontinued operations, net of income tax benefit					—
Net income					$	37,212



	Year Ended March 31, 2011
	OTC Healthcare		Household Cleaning		Consolidated
(In thousands)
Net sales	$	234,042	$	99,673	$	333,715
Other revenues	543		2,252		2,795
Total revenues	234,585		101,925		336,510
Cost of sales	97,710		67,922		165,632
Gross profit	136,875		34,003		170,878
Advertising and promotion	36,752		6,145		42,897
Contribution margin	$	100,123	$	27,858	127,981
Other operating expenses					51,836
Operating income					76,145
Other expenses					27,617
Provision for income taxes					19,349
Income from continuing operations					29,179
Income from discontinued operations, net of income tax benefit					591
Loss on sale of discontinued operations, net of income tax					(550		)
Net income					$	29,220



	Year Ended March 31, 2010
	OTC Healthcare		Household Cleaning		Consolidated
(In thousands)
Net sales	$	178,755	$	108,797	$	287,552
Other revenues	3,151		1,899		5,050
Total revenues	181,906		110,696		292,602
Cost of sales	67,040		72,118		139,158
Gross profit	114,866		38,578		153,444
Advertising and promotion	24,264		6,659		30,923
Contribution margin	$	90,602	$	31,919	122,521
Other operating expenses					44,196
Operating income					78,325
Other expenses					25,591
Income tax benefit					20,664
Income from continuing operations					32,070
Loss from discontinued operations, net of income tax					(112		)
Gain on sale of discontinued operations, net of income tax					157
Net income					$	32,115



	Year Ended March 31,
(In thousands)	2012		2011		2010
Analgesics	$	18,930	$	3,063	$	3,360
Cough & Cold	116,669		75,013		45,853
Gastrointestinal	29,489		4,067		—
Eye & Ear Care	74,363		70,724		65,274
Dermatologicals	52,592		51,398		47,240
Oral Care	46,551		26,518		16,660
Other OTC	6,407		3,802		3,519
Total OTC Healthcare Segment	345,001		234,585		181,906
Household Cleaning Segment	96,084		101,925		110,696
Consolidated Net Revenues	$	441,085	$	336,510	$	292,602

During 2012, 2011 and 2010, approximately 96.5%, 95.8% and 95.7%, respectively of our sales were made to customers in the United States and Canada. Other than the United States, no individual geographical area accounted for more than 10% of net sales in any of the periods presented. At March 31, 2012, substantially all of our long-term assets were located in the United States of America and have been allocated to the operating segments as follows:



(In thousands)	OTC Healthcare		Household Cleaning		Consolidated
Goodwill	$	166,313	$	7,389	$	173,702

Intangible assets
Indefinite-lived	1,125,594		119,820		1,245,414
Finite-lived	125,452		29,656		155,108
	1,251,046		149,476		1,400,522

	$	1,417,359	$	156,865	$	1,574,224

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Gain on Settlement	12 Months Ended
Gain on Settlement	Mar. 31, 2012
Gain on Settlement [Abstract]
Gain on Settlement	Gain on Settlement On June 15, 2011, we received a settlement payment of $8.0 million in the resolution of pending litigation, which Prestige Brands, Inc. had initiated for legal malpractice, breach of contract and breach of fiduciary duty against a law firm and two individual lawyers who had previously provided legal representation to Prestige Brands, Inc. Because the result of the litigation could only have resulted in a potential gain and the amount could not be determined prior to the settlement, the settlement payment was not disclosed prior to the actual receipt of the settlement. Additionally, the costs netted against the gain during the period ended June 30, 2011 were legal fees paid solely on a contingent basis and other immaterial legal fees incurred in the period ended June 30, 2011. All other costs and legal fees that were incurred prior to the period ended June 30, 2011 were immaterial and expensed as incurred. We incurred costs of $2.9 million in pursuing this matter. Therefore, we recorded a pre-tax gain on settlement of $5.1 million net of costs incurred and $3.2 million after income tax effects for the fiscal year ended March 31, 2012. The $5.1 million pre-tax gain is included in other (income) expense, as this gain did not relate to our ongoing operations.

Unaudited Quarterly Financial Information

12 Months Ended

Mar. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Information

Unaudited quarterly financial information for 2012 and 2011 is as follows:

Year Ended March 31, 2012



	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2011			September 30, 2011		December 31, 2011		March 31, 2012
Total revenues	$	95,295		$	105,544	$	106,250	$	133,996
Cost of sales	45,427			51,638		51,128		65,508
Gross profit	49,868			53,906		55,122		68,488

Operating expenses
Advertising and promotion	10,233			13,073		15,274		18,547
General and administrative	9,850			8,861		13,655		24,334
Depreciation and amortization	2,550			2,570		2,563		3,051
	22,633			24,504		31,492		45,932
Operating income	27,235			29,402		23,630		22,556
Net interest expense	8,578			8,279		8,116		16,347
Gain on settlement	(5,063		)					—
Loss on extinguishment of debt	—			—		—		5,409
Income from continuing operations before income taxes	23,720			21,123		15,514		800
Provision for income taxes	8,952			8,174		6,004		815
Income (loss) from continuing operations	14,768			12,949		9,510		(15		)

Discontinued Operations
Income from discontinued operations, net of income tax	—			—		—		—
Gain on sale of discontinued operations, net of income tax	—			—		—		—
Net income (loss)	$	14,768		$	12,949	$	9,510	$	(15	)

Basic earnings per share:
Income from continuing operations	$	0.29		$	0.26	$	0.19	$	—
Income (loss) from discontinued operations and gain (loss) from sale of discontinued operations	—			—		—		—
Net income	$	0.29		$	0.26	$	0.19	$	—

Diluted earnings per share:
Income from continuing operations	$	0.29		$	0.26	$	0.19	$	—
Income (loss) from discontinued operations and gain (loss) from sale of discontinued operations	—			—		—		—
Net income	$	0.29		$	0.26	$	0.19	$	—

Weighted average shares outstanding:
Basic	50,183			50,278		50,307		50,314
Diluted	50,646			50,671		50,684		50,992

Year Ended March 31, 2011



	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2010		September 30, 2010			December 31, 2010		March 31, 2011
Total revenues	$	71,236	$	78,303		$	90,608	$	96,363
Cost of sales	33,265		35,713			46,596		50,058
Gross profit	37,971		42,590			44,012		46,305

Operating expenses
Advertising and promotion	7,486		8,240			13,049		14,122
General and administrative	7,414		8,101			15,426		11,019
Depreciation and amortization	2,410		2,413			2,513		2,540
	17,310		18,754			30,988		27,681
Operating income	20,661		23,836			13,024		18,624
Net interest expense	5,461		5,373			7,674		8,809
Loss on extinguishment of debt	300		—			—		—
Income from continuing operations before income taxes	14,900		18,463			5,350		9,815
Provision for income taxes	5,691		7,053			3,204		3,401
Income from continuing operations	9,209		11,410			2,146		6,414

Discontinued Operations
Income from discontinued operations, net of income tax	397		162			32		—
Loss on sale of discontinued operations, net of income tax	—		(550		)	—		—
Net income	$	9,606	$	11,022		$	2,178	$	6,414

Basic earnings per share:
Income from continuing operations	$	0.18	$	0.23		$	0.04	$	0.13
Income (loss) from discontinued operations and gain (loss) from sale of discontinued operations	0.01		(0.01		)	—		—
Net income	$	0.19	$	0.22		$	0.04	$	0.13

Diluted earnings per share:
Income from continuing operations	$	0.18	$	0.23		$	0.04	$	0.13
Income (loss) from discontinued operations and gain (loss) from sale of discontinued operations	0.01		(0.01		)	—		—
Net income	$	0.19	$	0.22		$	0.04	$	0.13

Weighted average shares outstanding:
Basic	50,038		50,053			50,085		50,129
Diluted	50,105		50,141			50,533		50,555

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Condensed Consolidating Financial Statements

12 Months Ended

Mar. 31, 2012

Condensed Consolidating Financial Statements [Abstract]

Condensed Consolidating Financial Statements

As described in Note 10, we, together with certain of our 100% owned subsidiaries, have fully and unconditionally guaranteed, on a joint and several basis, the obligations of Prestige Brands, Inc. (a 100% owned subsidiary of the Company) set forth in the Senior Notes Indenture, including, without limitation, the obligation to pay principal and interest with respect to the 2010 Senior Notes and the 2012 Senior Notes, collectively (the "Senior Notes"). The 100% owned subsidiaries of the Company which have guaranteed the Senior Notes are as follows: Prestige Personal Care Holdings, Inc., Prestige Personal Care, Inc., Prestige Services Corp., Prestige Brands Holdings, Inc. (a Virginia corporation), Prestige Brands International, Inc., Medtech Holdings, Inc., Medtech Products Inc., The Cutex Company, The Denorex Company, The Spic and Span Company and Blacksmith Brands, Inc. (collectively, the "Subsidiary Guarantors"). A significant portion of our operating income and cash flow is generated by our subsidiaries. As a result, funds necessary to meet Prestige Brands, Inc.'s debt service obligations are provided in part by distributions or advances from the Company's subsidiaries. Under certain circumstances, contractual and legal restrictions, as well as the financial condition and operating requirements of the Company's subsidiaries, could limit Prestige Brands, Inc.'s ability to obtain cash from our subsidiaries for the purpose of meeting its debt service obligations, including the payment of principal and interest on the Senior Notes. Although holders of the Senior Notes will be direct creditors of the guarantors of the Senior Notes by virtue of the guarantees, we have indirect subsidiaries located primarily in the United Kingdom and in the Netherlands (collectively, the "Non-Guarantor Subsidiaries") that have not guaranteed the Senior Notes, and such subsidiaries will not be obligated with respect to the Senior Notes. As a result, the claims of creditors of the Non-Guarantor Subsidiaries will effectively have priority with respect to the assets and earnings of such companies over the claims of the holders of the Senior Notes.

Presented below are supplemental condensed consolidating balance sheets as of March 31, 2012 and 2011 and condensed consolidating statements of operations and cash flows for each year in the three year period ended March 31, 2012. Such consolidating information includes separate columns for:

a) Prestige Brands Holdings, Inc., the parent,

b) Prestige Brands, Inc., the issuer,

c) Combined Subsidiary Guarantors,

d) Combined Non-Guarantor Subsidiaries,

e) Elimination entries necessary to consolidate the Company and all of its subsidiaries.

The condensed consolidating financial statements are presented using the equity method of accounting for investments in 100% owned subsidiaries. Under the equity method, the investments in subsidiaries are recorded at cost and adjusted for our share of the subsidiaries' cumulative results of operations, capital contributions, distributions and other equity changes. The elimination entries principally eliminate investments in subsidiaries and intercompany balances and transactions. The financial information in this footnote should be read in conjunction with the Consolidated Financial Statements presented and other notes related thereto contained in this Annual Report on Form 10-K for the fiscal year ended March 31, 2012.

Condensed Consolidating Statement of Operations

Year Ended March 31, 2012



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors			Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Revenues
Net sales	$	—		$	340,394		$	93,554		$	3,890		$	—		$	437,838
Other revenues	—			913			2,528			1,475			(1,669		)	3,247
Total Revenues	—			341,307			96,082			5,365			(1,669		)	441,085

Cost of Sales
Cost of sales (exclusive of depreciation shown below)	—			143,220			70,550			1,600			(1,669		)	213,701
Gross profit	—			198,087			25,532			3,765			—			227,384

Advertising and promotion	—			50,593			5,231			1,303			—			57,127
General and administrative	16,715			28,360			10,668			957			—			56,700
Depreciation and amortization	537			8,292			1,834			71			—			10,734
Total operating expenses	17,252			87,245			17,733			2,331			—			124,561

Operating income (loss)	(17,252		)	110,842			7,799			1,434			—			102,823

Other (income) expense
Interest income	—			(59,402		)	—			(222		)	59,606			(18		)
Interest expense	—			88,240			12,704			—			(59,606		)	41,338
Gain on Settlement	(5,063		)	—			—			—			—			(5,063		)
Loss on extinguishment of debt	—			5,409			—			—			—			5,409
Equity in income of subsidiaries	(51,184		)	—			—			—			51,184			—
Total other (income) expense	(56,247		)	34,247			12,704			(222		)	51,184			41,666

Income (loss) from continuing operations before income taxes	38,995			76,595			(4,905		)	1,656			(51,184		)	61,157

Provision (benefit) for income taxes	1,783			23,643			(2,018		)	537			—			23,945
Income (loss) from continuing operations	37,212			52,952			(2,887		)	1,119			(51,184		)	37,212

Discontinued operations
Income (loss) from discontinued operations, net of income tax	—			—			—			—			—			—
Loss on sale of discontinued operations, net of income tax benefit																—
Net income (loss)	$	37,212		$	52,952		$	(2,887	)	$	1,119		$	(51,184	)	$	37,212

Condensed Consolidating Statement of Operations

Year Ended March 31, 2011



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors		Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Revenues
Net sales	$	—		$	230,302		$	99,672	$	3,741		$	—		$	333,715
Other revenues	—			542			2,253		1,666			(1,666		)	2,795
Total Revenues	—			230,844			101,925		5,407			(1,666		)	336,510

Cost of Sales
Cost of sales (exclusive of depreciation)	—			97,872			67,923		1,503			(1,666		)	165,632
Gross profit	—			132,972			34,002		3,904			—			170,878

Advertising and promotion	—			35,259			6,145		1,493			—			42,897
General and administrative	(298		)	30,899			11,289		70			—			41,960
Depreciation and amortization	486			7,473			1,848		69			—			9,876
Total operating expenses (income)	188			73,631			19,282		1,632			—			94,733

Operating (loss) income	(188		)	59,341			14,720		2,272			—			76,145

Other (income) expense
Interest income	(51,909		)	(9,116		)	—		(189		)	61,213			(1		)
Interest expense	—			74,409			14,118		4			(61,213		)	27,318
Loss on extinguishment of debt	—			300			—		—			—			300
Equity in income of subsidiaries	1,875			—			—		—			(1,875		)	—
Total other (income) expense	(50,034		)	65,593			14,118		(185		)	(1,875		)	27,617

Income (loss) from continuing operations before income taxes	49,846			(6,252		)	602		2,457			1,875			48,528

Provision (benefit) for income taxes	20,626			(2,081		)	274		530			—			19,349
Income (loss) from continuing operations	29,220			(4,171		)	328		1,927			1,875			29,179

Discontinued operations
Income from discontinued operations, net of income tax	—			578			13		—			—			591
Loss on sale of discontinued operations, net of income tax benefit	—			(550		)	—		—			—			(550		)
Net income (loss)	$	29,220		$	(4,143	)	$	341	$	1,927		$	1,875		$	29,220

Condensed Consolidating Statement of Operations

Year Ended March 31, 2010



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors			Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Revenues
Net sales	$	—		$	175,203		$	108,797		$	3,552		$	—		$	287,552
Other revenues	—			3,150			1,900			1,297			(1,297		)	5,050
Total Revenues	—			178,353			110,697			4,849			(1,297		)	292,602

Cost of Sales
Cost of sales (exclusive of depreciation)	—			66,882			72,119			1,454			(1,297		)	139,158
Gross profit	—			111,471			38,578			3,395			—			153,444

Advertising and promotion	—			22,867			6,659			1,397			—			30,923
General and administrative	533			20,840			12,445			377			—			34,195
Depreciation and amortization	384			7,657			1,889			71			—			10,001
Total operating expenses	917			51,364			20,993			1,845			—			75,119

Operating (loss) income	(917		)	60,107			17,585			1,550			—			78,325

Other (income) expense
Interest income	(52,265		)	(9,246		)	—			(123		)	61,633			(1		)
Interest expense	—			70,344			14,215			10			(61,633		)	22,936
Loss on extinguishment of debt	—			2,656			—			—			—			2,656
Equity in income of subsidiaries	(808		)	—			—			—			808			—
Total other (income) expense	(53,073		)	63,754			14,215			(113		)	808			25,591

Income (loss) from continuing operations before income taxes	52,156			(3,647		)	3,370			1,663			(808		)	52,734

Provision (benefit) for income taxes	20,041			(1,266		)	1,480			409			—			20,664
Income (loss) from continuing operations	32,115			(2,381		)	1,890			1,254			(808		)	32,070

Discontinued operations
Income (loss) from discontinued operations, net of income tax/(benefit)	—			(368		)	256			—			—			(112		)
Gain/(loss) on sale of discontinued operations, net of income tax/(benefit)	—			787			(630		)	—			—			157
Net income (loss)	$	32,115		$	(1,962	)	$	1,516		$	1,254		$	(808	)	$	32,115

Condensed Consolidating Balance Sheet

March 31, 2012



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors			Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets
Cash and cash equivalents	$	18,221		$	—		$	—		$	794		$	—		$	19,015
Accounts receivable, net	291			49,958			9,232			747			—			60,228
Inventories	1			41,410			9,021			681			—			51,113
Deferred income tax assets	355			4,112			816			—			—			5,283
Prepaid expenses and other current assets	7,836			3,407			153			—			—			11,396
Total current assets	26,704			98,887			19,222			2,222			—			147,035

Property and equipment, net	934			285			83			2			—			1,304
Goodwill	—			166,312			7,390			—			—			173,702
Intangible assets, net	—			1,250,669			149,476			377			—			1,400,522
Other long-term assets	—			35,713			—			—			—			35,713
Intercompany receivable	1,716,894			1,684,732			91,236			7,801			(3,500,663		)	—
Investment in subsidiary	456,120			—			—			—			(456,120		)	—
Total Assets	$	2,200,652		$	3,236,598		$	267,407		$	10,402		$	(3,956,783	)	$	1,758,276

Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$	4,532		$	13,291		$	8,532		$	371		$	—		$	26,726
Accrued interest payable	—			13,889			—			—			—			13,889
Other accrued liabilities	12,247			22,066			(11,978		)	973			—			23,308
Total current liabilities	16,779			49,246			(3,446		)	1,344			—			63,923

Long-term debt
Principal amount	—			1,135,000			—			—			—			1,135,000
Less unamortized discount	—			(11,092		)	—			—			—			(11,092		)
Long-term debt, net of unamortized discount	—			1,123,908			—			—			—			1,123,908

Deferred income tax liabilities	(3,643		)	143,528			27,749			83			—			167,717

Intercompany payable	1,648,505			1,665,810			172,127			689			(3,487,131		)	—
Intercompany equity in subsidiaries	136,286			—			—			—			(136,286		)	—

Total Liabilities	1,797,927			2,982,492			196,430			2,116			(3,623,417		)	1,355,548

Stockholders' Equity
Preferred share rights	283			—			—			—			—			283
Common Stock	505			—			—			—			—			505
Additional paid-in capital	391,898			337,458			118,638			24			(456,120		)	391,898
Treasury stock	(687		)	—			—			—			—			(687		)
Accumulated other comprehensive loss, net of tax	(13		)	—			—			(13		)	13			(13		)
Retained earnings (accumulated deficit)	10,739			(89,079		)	(47,661		)	14,002			122,741			10,742
Intercompany dividends	—			5,727			—			(5,727		)	—			—
Total Stockholders' Equity	402,725			254,106			70,977			8,286			(333,366		)	402,728

Total Liabilities and Stockholders' Equity	$	2,200,652		$	3,236,598		$	267,407		$	10,402		$	(3,956,783	)	$	1,758,276

Condensed Consolidating Balance Sheet

March 31, 2011



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors			Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets
Cash and cash equivalents	$	12,698		$	—		$	—		$	636		$	—		$	13,334
Accounts receivable, net	13			34,835			8,842			703			—			44,393
Inventories	—			31,023			8,050			678			—			39,751
Deferred income tax assets	646			4,168			477			1			—			5,292
Prepaid expenses and other current assets	4,505			156			150			1			—			4,812
Total current assets	17,862			70,182			17,519			2,019			—			107,582

Property and equipment, net	1,131			127			173			13			—			1,444
Goodwill	—			147,506			7,390			—			—			154,896
Intangible assets, net	—			634,704			151,220			437			—			786,361
Other long-term assets	—			6,635			—			—			—			6,635
Intercompany receivable	1,007,260			954,317			92,251			4,558			(2,058,386		)	—
Investment in subsidiary	456,119			—			—			—			(456,119		)	—
Total Assets	$	1,482,372		$	1,813,471		$	268,553		$	7,027		$	(2,514,505	)	$	1,056,918

Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$	1,920		$	14,656		$	4,627		$	412		$	—		$	21,615
Accrued interest payable	—			10,313			—			—			—			10,313
Other accrued liabilities	15,555			15,134			(7,382		)	(1,027		)	—			22,280
Total current liabilities	17,475			40,103			(2,755		)	(615		)	—			54,208

Long-term debt
Principal amount	—			492,000			—			—			—			492,000
Less unamortized discount	—			(5,055		)	—			—			—			(5,055		)
Long-term debt, net of unamortized discount	—			486,945			—			—			—			486,945

Deferred income tax liabilities	(2,846		)	132,549			24,135			95			—			153,933

Intercompany payable	931,601			952,721			173,310			754			(2,058,386		)	—
Intercompany equity in subsidiaries	174,310			—			—			—			(174,310		)	—

Total Liabilities	1,120,540			1,612,318			194,690			234			(2,232,696		)	695,086

Stockholders' Equity
Common Stock	503			—			—			—			—			503
Additional paid-in capital	387,932			337,458			118,637			24			(456,119		)	387,932
Treasury stock	(416		)	—			—			—			—			(416		)
(Accumulated deficit) Retained earnings	(26,187		)	(142,032		)	(44,774		)	12,496			174,310			(26,187		)
Intercompany dividends	—			5,727			—			(5,727		)	—			—
Total Stockholders' Equity	361,832			201,153			73,863			6,793			(281,809		)	361,832

Total Liabilities and Stockholders’ Equity	$	1,482,372		$	1,813,471		$	268,553		$	7,027		$	(2,514,505	)	$	1,056,918

Condensed Consolidating Statement of Cash Flows

Year Ended March 31, 2012



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors			Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Operating Activities
Net income (loss)	$	37,212		$	52,952		$	(2,887	)	$	1,119		$	(51,184	)	$	37,212
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	537			8,292			1,834			71			—			10,734
Deferred income taxes	(507		)	11,023			3,276			1			—			13,793
Amortization of deferred financing costs	—			1,630			—			—			—			1,630
Stock-based compensation costs	3,078			—			—			—			—			3,078
Loss on extinguishment of debt	—			5,409			—			—			—			5,409
Amortization of debt discount	—			1,030			—			—			—			1,030
Changes in operating assets and liabilities
Accounts receivable	(12		)	(15,389		)	(390		)	(63		)	—			(15,854		)
Inventories	—			4,683			(972		)	(1		)	—			3,710
Prepaid expenses and other current assets	(3,598		)	591			(3		)	1			—			(3,009		)
Accounts payable	2,614			(1,365		)	3,905			(27		)	—			5,127
Accrued liabilities	(5,867		)	16,186			(4,596		)	(1,131		)	—			4,592
Intercompany activity, net	26,866			(34,019		)	(2,292		)	(200		)	9,645			—
Net cash provided by (used in) operating activities	60,323			51,023			(2,125		)	(230		)	(41,539		)	67,452

Investing Activities
Purchases of equipment	(367		)	(239		)	—			—			—			(606		)
Proceeds from escrow of Blacksmith acquisition	—			1,200			—			—			—			1,200
Acquisition of GSK Brands	—			(662,800		)	—			—			—			(662,800		)
Intercompany activity, net	1,200			661,600			—			—			(662,800		)	—
Net cash provided by (used in) investing activities	833			(239		)	—			—			(662,800		)	(662,206		)

Financing Activities
Proceeds from issuance of 2012 Senior Notes	—			250,000			—			—			—			250,000
Repayment 0f 2010 Senior Term Loan	—			(242,000		)	—			—			—			(242,000		)
Proceeds from issuance of 2012 Term Loan and 2010 Term Loan	—			650,100			—			—			—			650,100
Payment of deferred financing costs	—			(33,284		)	—			—			—			(33,284		)
Repayment of 2012 Term Loan	—			(25,000		)	—			—			—			(25,000		)
Proceeds from exercise of stock options	889			—			—			—			—			889
Shares surrendered as payment of tax withholding	(271		)	—			—			—			—			(271		)
Intercompany activity, net	(56,251		)	(650,600		)	2,125			387			704,339			—
Net cash (used in) provided by financing activities	(55,633		)	(50,784		)	2,125			387			704,339			600,434

Effects of exchange rate changes on cash and cash equivalents	—			—			—			1			—			1
Increase (decrease) in cash	5,523			—			—			158			—			5,681
Cash - beginning of period	12,698			—			—			636			—			13,334

Cash - end of period	$	18,221		$	—		$	—		$	794		$	—		$	19,015

Condensed Consolidating Statement of Cash Flows

Year Ended March 31, 2011



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors			Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Operating Activities
Net income (loss)	$	29,220		$	(4,143	)	$	341		$	1,927		$	1,875		$	29,220
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	485			7,702			1,849			72			—			10,108
Loss on sale of discontinued operations	—			890			—			—			—			890
Deferred income taxes	(1,174		)	6,666			3,832			—			—			9,324
Amortization of deferred financing costs	—			1,043			—			—			—			1,043
Stock-based compensation costs	3,575			—			—			—			—			3,575
Loss on extinguishment of debt	—			300			—			—			—			300
Amortization of debt discount	—			702			—			—			—			702
Loss on disposal of equipment	27			106			20			—			—			153
Changes in operating assets and liabilities
Accounts receivable	1,041			2,720			1,183			(26		)	—			4,918
Inventories	—			13,294			(793		)	(58		)	—			12,443
Prepaid expenses and other current assets	(62		)	118			98			—			—			154
Accounts payable	(605		)	1,759			566			64			—			1,784
Accrued liabilities	4,219			11,696			(3,906		)	47			—			12,056
Net cash provided by operating activities	36,726			42,853			3,190			2,026			1,875			86,670

Investing Activities
Purchases of equipment	(595		)	(56		)	—			(4		)	—			(655		)
Proceeds from sale of property and equipment	12			—			—			—			—			12
Proceeds from sale of discontinued operations	—			4,122			—			—			—			4,122
Acquisition of Blacksmith, net of cash acquired	(220		)	(201,824		)	—			—			—			(202,044		)
Acquisition of Dramamine	—			(77,115		)	—			—			—			(77,115		)
Net cash used in investing activities	(803		)	(274,873		)	—			(4		)	—			(275,680		)

Financing Activities
Proceeds from issuance of senior notes	—			100,250			—			—			—			100,250
Proceeds from issuance of senior term loan	—			112,936			—			—			—			112,936
Payment of deferred financing costs	—			(830		)	—			—			—			(830		)
Repayment of long-term debt	—			(51,087		)	—			—			—			(51,087		)
Proceeds of exercise of stock options	331			—			—			—			—			331
Purchase of treasury stock	(353		)	—			—			—			—			(353		)
Intercompany activity, net	(63,847		)	70,751			(3,190		)	(1,839		)	(1,875		)	—
Net cash (used in) provided by financing activities	(63,869		)	232,020			(3,190		)	(1,839		)	(1,875		)	161,247

(Decrease) increase in cash	(27,946		)	—			—			183			—			(27,763		)
Cash - beginning of period	40,644			—			—			453			—			41,097

Cash - end of period	$	12,698		$	—		$	—		$	636		$	—		$	13,334

Condensed Consolidating Statement of Cash Flows

Year Ended March 31, 2010



(In thousands)	Prestige Brands Holdings, Inc.			Prestige Brands, Inc., the issuer			Combined Subsidiary Guarantors			Combined Non- guarantor Subsidiaries			Eliminations			Consolidated
Operating Activities
Net income (loss)	$	32,115		$	(843	)	$	1,516		$	1,254		$	(1,927	)	$	32,115
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	384			8,508			2,487			71			—			11,450
Loss (gain) on sale of discontinued operations	—			(1,268		)	1,015			—			—			(253		)
Deferred income taxes	(1,412		)	6,261			6,162			1			—			11,012
Amortization of deferred financing costs	—			1,926			—			—			—			1,926
Impairment of goodwill and intangible assets	—			2,751			—			—			—			2,751
Stock-based compensation costs	2,085			—			—			—			—			2,085
Loss on extinguishment of debt	—			2,166			—			—			—			2,166
Changes in operating assets and liabilities
Accounts receivable	465			5,578			550			(189		)	—			6,404
Inventories	—			(1,798		)	(1,247		)	(306		)	—			(3,351		)
Prepaid expenses and other current assets	(3,972		)	594			(181		)	—			—			(3,559		)
Accounts payable	1,263			(526		)	(3,824		)	(40		)	—			(3,127		)
Accrued liabilities	(3,217		)	7,571			(4,522		)	(24		)	—			(192		)
Net cash provided by (used in) operating activities	27,711			30,920			1,956			767			(1,927		)	59,427

Investing Activities
Purchases of equipment	(610		)	(33		)	—			(30		)	—			(673		)
Proceeds from sale of discontinued operations	(1,000		)	4,476			4,517			—			—			7,993
Net cash (used in) provided by investing activities	(1,610		)	4,443			4,517			(30		)	—			7,320

Financing Activities
Proceed from issuance of debt	—			296,046			—			—			—			296,046
Payment of deferred financing costs	—			(6,627		)	—			—			—			(6,627		)
Repayment of long-term debt	—			(350,250		)	—			—			—			(350,250		)
Intercompany activity, net	(19,915		)	25,468			(6,473		)	(1,007		)	1,927			—
Net cash (used in) provided by financing activities	(19,915		)	(35,363		)	(6,473		)	(1,007		)	1,927			(60,831		)

Increase (decrease) in cash	6,186			—			—			(270		)	—			5,916
Cash - beginning of period	34,458			—			—			723			—			35,181

Cash - end of period	$	40,644		$	—		$	—		$	453		$	—		$	41,097

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2012
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On May 9, 2012, the Compensation Committee of our Board of Directors granted 111,152 shares of restricted common stock units and stock options to acquire 422,962 shares of our common stock to certain executive officers and employees under the Plan. The restricted common stock units vest in their entirety on the three-year anniversary of the date of grant. Upon vesting, the units will be settled in shares of our common stock. The stock options will vest 33.3% per year over three years and are exercisable for up to ten years from the date of grant. These stock options were granted at an exercise price of $13.24 per share, which is equal to the closing price for our common stock on the day of the grant. Termination of employment prior to vesting will result in forfeiture of the restricted common stock units and unvested stock options. Vested stock options will remain exercisable by an employee after termination, subject to the terms of the Plan.

Schedule II Valuation and Qualifying Accounts

12 Months Ended

Mar. 31, 2012

Valuation and Qualifying Accounts [Abstract]

Schedule of Valuation and Qualifying Accounts

VALUATION AND QUALIFYING ACCOUNTS



(In thousands)	Balance at Beginning of Year		Amounts Charged to Expense				Deductions			Other				Balance at End of Year
Year Ended March 31, 2012
Reserves for sales returns and allowance	$	6,208	$	23,457			$	(25,408	)	$	—			$	4,257
Reserves for trade promotions	4,853		32,185				(31,532		)	—				5,506
Reserves for consumer coupon redemptions	2,723		7,180				(6,394		)	—				3,509
Allowance for doubtful accounts	444		200				(40		)	—				604

Year Ended March 31, 2011
Reserves for sales returns and allowance	6,221		17,316				(17,746		)	417		(2	)	6,208
Reserves for trade promotions	2,051		23,906		(1	)	(23,350		)	2,246		(2	)	4,853
Reserves for consumer coupon redemptions	263		3,932		(1	)	(3,090		)	1,618		(2	)	2,723
Allowance for doubtful accounts	273		180				(16		)	7		(2	)	444

Year Ended March 31, 2010
Reserves for sales returns and allowance	2,457		20,042				(16,278		)	—				6,221
Reserves for trade promotions	2,440		20,362				(20,751		)	—				2,051
Reserves for consumer coupon redemptions	297		1,281				(1,315		)	—				263
Allowance for doubtful accounts	120		200				(47		)	—				273


(1)	We increased our reserves for Trade Promotion and Consumer Coupon Redemption by $3.0 million and $2.0 million, respectively, in an effort to gain market share for the PediaCare brand.


(2)	Reflect the applicable amounts acquired from the purchase of Blacksmith on November 1, 2010.