View Filing Data

Print Document View Excel Document

Document and Entity Information Document - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	May 01, 2020	Sep. 30, 2019
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-32433
Entity Registrant Name	PRESTIGE CONSUMER HEALTHCARE INC.
Entity Central Index Key	0001295947
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1297589
Entity Address, Address Line One	660 White Plains Road
Entity Address, City or Town	Tarrytown
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10591
City Area Code	914
Local Phone Number	524-6800
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	PBH
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1,737.7
Entity Common Stock, Shares Outstanding		50,085,494
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for the 2020 Annual Meeting of Stockholders (the “2020 Proxy Statement”) are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent described herein.

Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Revenues
Total revenues	$ 963,010	$ 975,777	$ 1,041,179
Cost of Sales
Cost of sales excluding depreciation	406,554	415,469	459,676
Cost of sales depreciation	4,233	4,732	4,998
Cost of sales	410,787	420,201	464,674
Gross profit	552,223	555,576	576,505
Operating Expenses
Advertising and promotion	147,194	143,090	147,286
General and administrative	89,112	89,759	85,393
Depreciation and amortization	24,762	27,047	28,428
Gain on divestiture	0	(1,284)	0
Goodwill and tradename impairment	0	229,461	99,924
Total operating expenses	261,068	488,073	361,031
Operating income	291,155	67,503	215,474
Other (income) expense
Interest income	(342)	(217)	(388)
Interest expense	96,566	105,299	106,267
Loss on extinguishment of debt	2,155	0	2,901
Other expense (income), net	1,625	476	(392)
Total other expense	100,004	105,558	108,388
Income (loss) before income taxes	191,151	(38,055)	107,086
Provision (benefit) for income taxes	48,870	(2,255)	(232,484)
Net income (loss)	$ 142,281	$ (35,800)	$ 339,570
Earnings (loss) per share:
Basic (in USD per share)	$ 2.81	$ (0.69)	$ 6.40
Diluted (in USD per share)	$ 2.78	$ (0.69)	$ 6.34
Weighted average shares outstanding:
Basic (in shares)	50,723	52,068	53,099
Diluted (in shares)	51,140	52,068	53,526
Comprehensive income (loss), net of tax:
Currency translation adjustments	$ (12,363)	$ (6,480)	$ 5,702
Unrealized loss on interest rate swaps	(4,864)	0	0
Unrecognized net (loss) gain on pension plans	(1,187)	48	1,335
Total other comprehensive (loss) income	(18,414)	(6,432)	7,037
Comprehensive (loss) income	123,867	(42,232)	346,607
Net sales
Revenues
Total revenues	962,936	975,692	1,040,792
Other revenues
Revenues
Total revenues	$ 74	$ 85	$ 387

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Current assets
Cash and cash equivalents	$ 94,760	$ 27,530
Accounts receivable, net of allowance of $20,194 and $12,965, respectively	150,517	148,787
Inventories	116,026	119,880
Prepaid expenses and other current assets	4,351	4,741
Total current assets	365,654	300,938
Property, plant and equipment, net	55,988	51,176
Operating lease right-of-use assets	28,888	0
Finance lease right-of-use assets	5,842	0
Goodwill	575,179	578,583
Intangible assets, net	2,479,391	2,507,210
Other long-term assets	2,963	3,129
Total Assets	3,513,905	3,441,036
Current liabilities
Accounts payable	62,375	56,560
Accrued interest payable	9,911	9,756
Operating lease liabilities, current portion	5,612	0
Finance lease liabilities, current portion	1,220	0
Other accrued liabilities	70,763	60,663
Total current liabilities	149,881	126,979
Long-term debt, net	1,730,300	1,798,598
Deferred income tax liabilities	407,812	399,575
Long-term operating lease liabilities, net of current portion	24,877	0
Long-term finance lease liabilities, net of current portion	4,626	0
Other long-term liabilities	25,438	20,053
Total Liabilities	2,342,934	2,345,205
Commitments and Contingencies – Note 18
Stockholders’ Equity
Preferred stock – $0.01 par value; Authorized – 5,000 shares; Issued and outstanding – None	0	0
Common stock – $0.01 par value; Authorized – 250,000 shares	538	536
Additional paid-in capital	488,116	479,150
Treasury stock, at cost – 3,719 shares at March 31, 2020 and 1,871 shares at March 31, 2019	(117,623)	(59,928)
Accumulated other comprehensive loss, net of tax	(44,161)	(25,747)
Retained earnings	844,101	701,820
Total Stockholders’ Equity	1,170,971	1,095,831
Total Liabilities and Stockholders’ Equity	$ 3,513,905	$ 3,441,036

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 20,194	$ 12,965
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	53,805,000	53,670,000
Treasury stock (in shares)	3,719,000	1,871,000

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive (Loss) Income	Retained Earnings
Beginning balance, common stock (in shares) at Mar. 31, 2017		53,287,000
Beginning balance, treasury stock (in shares) at Mar. 31, 2017				332,000
Beginning balance at Mar. 31, 2017	$ 822,549	$ 533	$ 458,255	$ (6,594)	$ (26,352)	$ 396,707
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 8,909		8,909
Exercise of stock options (in shares)	55,700	56,000
Exercise of stock options	$ 1,620	$ 0	1,620
Issuance of shares related to restricted stock (in shares)		53,000
Issuance of shares related to restricted stock		$ 1	(1)
Treasury share repurchases (in shares)				21,000
Treasury share repurchases	(1,075)			$ (1,075)
Net income (loss)	339,570					339,570
Other comprehensive income (loss)	7,037				7,037
Ending balance, common stock (in shares) at Mar. 31, 2018		53,396,000
Ending balance, treasury stock (in shares) at Mar. 31, 2018				353,000
Ending balance at Mar. 31, 2018	1,178,610	$ 534	468,783	$ (7,669)	(19,315)	736,277
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 7,438		7,438
Exercise of stock options (in shares)	97,700	98,000
Exercise of stock options	$ 2,931	$ 0	2,931
Issuance of shares related to restricted stock (in shares)		176,000
Issuance of shares related to restricted stock		$ 2	(2)
Treasury share repurchases (in shares)				1,518,000
Treasury share repurchases	(52,259)			$ (52,259)
Net income (loss)	(35,800)					(35,800)
Other comprehensive income (loss)	$ (6,432)				(6,432)
Ending balance, common stock (in shares) at Mar. 31, 2019		53,670,000
Ending balance, treasury stock (in shares) at Mar. 31, 2019	1,871,000			1,871,000
Ending balance at Mar. 31, 2019	$ 1,095,831	$ 536	479,150	$ (59,928)	(25,747)	701,820
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 7,644		7,644
Exercise of stock options (in shares)	47,900	48,000
Exercise of stock options	$ 1,324	$ 1	1,323
Issuance of shares related to restricted stock (in shares)		87,000
Issuance of shares related to restricted stock		$ 1	(1)
Treasury share repurchases (in shares)				1,848,000
Treasury share repurchases	(57,695)			$ (57,695)
Net income (loss)	142,281					142,281
Other comprehensive income (loss)	$ (18,414)				(18,414)
Ending balance, common stock (in shares) at Mar. 31, 2020		53,805,000
Ending balance, treasury stock (in shares) at Mar. 31, 2020	3,719,000			3,719,000
Ending balance at Mar. 31, 2020	$ 1,170,971	$ 538	$ 488,116	$ (117,623)	$ (44,161)	$ 844,101

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Operating Activities
Net income (loss)	$ 142,281	$ (35,800)	$ 339,570
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	28,995	31,779	33,426
Gain on divestiture	0	(1,284)	0
Loss on sale or disposal of property and equipment	713	216	1,568
Deferred income taxes	13,852	(40,554)	(269,086)
Amortization of debt origination costs	3,812	5,923	6,742
Stock-based compensation costs	7,644	7,438	8,909
Loss on extinguishment of debt	2,155	0	2,901
Non-cash operating lease cost	8,786	0	0
Interest expense relating to ROU assets	84	0	0
Impairment loss	0	229,461	99,924
Lease termination costs	0	0	214
Other non-cash items	0	421	1,704
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures:
Accounts receivable	(2,849)	(2,980)	(5,043)
Inventories	2,930	(10,535)	(2,482)
Prepaid expenses and other assets	687	6,887	33,721
Accounts payable	6,210	(3,993)	(10,028)
Accrued liabilities	12,096	3,734	(31,495)
Operating lease liabilities	(8,824)	0	0
Other	(1,448)	(1,429)	(435)
Net cash provided by operating activities	217,124	189,284	210,110
Investing Activities
Purchases of property, plant and equipment	(14,560)	(10,480)	(12,532)
Proceeds from divestitures	0	65,912	0
Escrow receipt	750	0	970
Acquisition of tradename	(2,760)	0	0
Net cash (used in) provided by investing activities	(16,570)	55,432	(11,562)
Financing Activities
Repayment of 2013 Senior Notes	(400,000)	0	0
Term Loan repayments	(48,000)	(200,000)	(444,000)
Borrowings under revolving credit agreement	100,000	45,000	30,000
Repayments under revolving credit agreement	(120,000)	(45,000)	(45,000)
Payments of debt origination costs	(6,584)	0	(500)
Payments of finance leases	(476)	0	0
Proceeds from exercise of stock options	1,324	2,931	1,620
Fair value of shares surrendered as payment of tax withholding	(974)	(2,281)	(1,075)
Repurchase of common stock	(56,721)	(49,978)	0
Net cash used in financing activities	(131,431)	(249,328)	(208,955)
Effects of exchange rate changes on cash and cash equivalents	(1,893)	(406)	1,100
Increase (decrease) in cash and cash equivalents	67,230	(5,018)	(9,307)
Cash and cash equivalents - beginning of year	27,530	32,548	41,855
Cash and cash equivalents - end of year	94,760	27,530	32,548
Interest paid	92,166	98,232	98,572
Income taxes paid	30,602	32,797	24,440
2013 Senior Notes
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on extinguishment of debt	2,200
Financing Activities
Proceeds from issuance of Senior Notes	0	0	250,000
2019 Senior Notes
Financing Activities
Proceeds from issuance of Senior Notes	$ 400,000	$ 0	$ 0

Business and Basis of Presentation

12 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Basis of Presentation

Nature of Business

Prestige Consumer Healthcare Inc. (referred to herein as the “Company” or “we”, which reference shall, unless the context requires otherwise, be deemed to refer to Prestige Consumer Healthcare Inc. and all of its direct and indirect 100% owned subsidiaries on a consolidated basis) is engaged in the development, manufacturing, marketing, sales and distribution of over-the-counter (“OTC”) healthcare and household cleaning products (prior to the sale of our Household Cleaning segment, as discussed in Note 2 to these Consolidated Financial Statements) to mass merchandisers, drug, food, dollar, convenience and club stores, and e-commerce channels in North America (the United States and Canada) and in Australia and certain other international markets. Prestige Consumer Healthcare 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 these Consolidated Financial Statements.

Coronavirus Outbreak

In January 2020, the World Health Organization ("WHO") announced a global health crisis due to a new strain of coronavirus ("COVID-19"). In March 2020, the WHO classified the COVID-19 outbreak as a pandemic. This pandemic is affecting the United States and global economies, including causing significant volatility in the global economy and resulting in materially reduced economic activity. If the outbreak continues to spread or if we enter a period of recession or depression, it may materially affect our operations and those of third parties on which we rely, including causing disruptions in the supply and distribution of our products. We may need to limit operations and may experience material limitations in employee resources. We did see an increase in sales at the end of March 2020 related to the United States shelter-in-place restrictions, followed by a significant decrease in consumer consumption in the weeks that followed. It has been reported to us that there has been an increase in absenteeism at our distribution center and some of our suppliers, however, we have not experienced a material disruption to our overall supply chain. The extent to which COVID-19 impacts our results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19, and the actions to contain COVID-19 or treat its impact, among others. We do not yet know the full extent of impacts on our business or the global economy. However, these effects could have a material, adverse impact on our liquidity, capital resources, operations and business and those of the third parties on which we rely.

Basis of Presentation

Our Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). 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., “2020”) mean our fiscal year ended on March 31st of that year.

Use of Estimates

The preparation of financial statements in conformity with 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, stock-based compensation, fair value of debt, sales returns and allowances, trade promotional allowances, inventory obsolescence, and accounting for income taxes and related uncertain tax positions.

Cash and Cash Equivalents

We consider all short-term deposits and investments with original maturities of three months or less to be cash equivalents. At March 31, 2020, approximately 14% of our cash is held by a bank in Sydney, Australia. Substantially all of our remaining 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. The Federal Deposit Insurance Corporation (“FDIC”) and Securities Investor Protection Corporation (“SIPC”) insures our U.S. domestic balances, up to $250,000 and $500,000, with a $250,000 limit for cash, respectively. Substantially all of the Company's cash balances at March 31, 2020 are uninsured.

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.

Inventories

Inventories are stated at the lower of cost or net realizable 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 net realizable value. Factors utilized in the determination of estimated net realizable value include (i) product expiration dates, (ii) current sales data and historical return rates, (iii) estimates of future demand, (iv) competitive pricing pressures, (v) new product introductions, and (vi) component and packaging obsolescence.

Property, Plant and Equipment

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


			Years
Building			15 - 40
Machinery			3 - 15
Computer equipment and software			3 - 5
Furniture and fixtures			7 - 10
Leasehold improvements			*

*Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the related assets.

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 respective accounts and recognize the resulting gain or loss in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).

Property, plant 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 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. Goodwill is tested for impairment at the reporting unit level, which is one level below the operating segment level. An impairment loss is recognized if the carrying amount of the reporting unit exceeds its fair value.

Intangible Assets

Intangible assets, which are comprised primarily of tradenames, are stated at cost less accumulated amortization. For intangible assets with finite lives, amortization is computed using the straight-line method over estimated useful lives, typically ranging from 10 to 30 years.

Indefinite-lived intangible assets are 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. Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may 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.

Debt Origination Costs

We have incurred debt origination costs in connection with the issuance of long-term debt. These costs are amortized over the term of the related debt, using the effective interest method for our bonds and our term loan facility and the straight-line method for our revolving credit facility. Costs associated with our revolving credit facility are reported as a long-term asset and costs related to our senior notes and the term loan facility are recorded as a reduction of debt.

Revenue Recognition

We adopted Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 606 on April 1, 2018 using the modified retrospective transition method and recognize revenue accordingly.

Nature of Goods and Services

We recognize revenue from product sales. We primarily ship finished goods to our customers and operate in two segments: North American OTC Healthcare and International OTC Healthcare. We sold our Household Cleaning segment on July 2, 2018 (see Note 2 for further details). The segments are based on differences in geographical area. The North America and International OTC Healthcare segments market a variety of personal care and over-the-counter products in the following product groups: Analgesics, Cough & Cold, Women's Health, Gastrointestinal, Eye & Ear Care, Dermatologicals, and Oral Care. Prior to its sale, the Household Cleaning segment focused on the sale of cleaning products. Our products are distinct and separately identifiable on customer contracts or invoices, with each product sale representing a separate performance obligation.

We sell consumer products under a variety of brands through a broad distribution platform that includes mass merchandisers, drug, food, dollar, convenience and club stores, and e-commerce channels, all of which sell our products to consumers.

See Note 21 for disaggregated revenue information.

Satisfaction of Performance Obligations

Under ASC 606, revenue is recognized when control of a promised good is transferred to a customer, in an amount that reflects the consideration that we expect to be entitled to receive in exchange for that good. This occurs either when finished goods are transferred to a common carrier for delivery to the customer or when product is picked up by the customer or the customer’s carrier.

Once a product has transferred to the common carrier or been picked up by the customer, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the product. It is at this point that we have a right to payment and the customer has legal title.

Variable Consideration

Provisions for certain rebates, customer promotional programs, product returns, and discounts to customers are accounted for as variable consideration and recorded as a reduction in sales.

We record an estimate of future product returns, chargebacks and logistic deductions concurrent with recording sales, which is made using the most likely amount method which incorporates (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.

We participate in the promotional programs of our customers to enhance the sale of our products. 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. The costs of such activities are recorded as a reduction to revenue when the related sale takes place. Estimates of the costs of these promotional programs are derived using the most likely amount method, which incorporates (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.

Practical Expedients

Due to the nature (short duration) of our contracts with customers, we apply the practical expedient related to the disclosure of remaining performance obligations. Remaining performance obligations relate to contracts with a duration of less than one year, in which we have the right to invoice the customer at the time the performance obligation is satisfied for the amount of revenue recognized at that time. Accordingly, we have elected the practical expedient available under ASC 606 not to disclose remaining performance obligations for our contracts. The period between when control of the promised products transfers to the customer and when the customer pays for the products is one year or less. As such, we do not adjust product consideration for the effects of a significant financing component. The amortization period of any asset resulting from incremental costs of obtaining a contract would be one year or less.

We expense incremental direct costs of obtaining a contract (broker commissions) when the related sale takes place.

We account for shipping and handling costs as fulfillment activities and therefore recognize them upon shipment of goods.

Cost of Sales

Cost of sales includes costs related to the manufacturing of our products, including raw materials, direct labor and indirect plant costs (including but not limited to depreciation), warehousing costs, inbound and outbound shipping costs, and handling and storage costs. Warehousing, shipping and handling and storage costs were $61.9 million for 2020, $56.4 million for 2019 and $64.7 million for 2018.

Advertising and Promotion Costs

Advertising and promotion costs are expensed as incurred. Allowances for distribution costs associated with products, including slotting fees, are recognized as a reduction of sales.

Stock-based Compensation

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

Pension Expense

Certain employees of C.B. Fleet Company, Inc. ("Fleet"), our wholly owned subsidiary, are covered by defined benefit pension plans. The Company’s policy is to contribute at least the minimum amount required under The Employee Retirement Income Security Act of 1974 ("ERISA"). The Company may elect to make additional contributions. Benefits are based on years of service and levels of compensation. On December 16, 2014, the decision was made to freeze the benefits under the Company's U.S. qualified defined benefit pension plan with an effective date of March 1, 2015.

The funded status of our pension plans is dependent upon many factors, including returns on invested assets and the level of certain market interest rates. We review pension assumptions regularly and we may from time to time make voluntary contributions to our pension plans that exceed the amounts required by statute. Changes in interest rates and the market value of the securities held by the plans could materially change the funded status of the plans, positively or negatively, and affect the level of pension expense and required contributions in fiscal 2021 and beyond.

Income Taxes

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act ("Tax Act"). The Tax Act represented significant U.S. federal tax reform legislation that includes a permanent reduction to the U.S. federal corporate income tax rate. The permanent reduction to the federal corporate income tax rate resulted in a one-time benefit of $267.0 million related to the value of our deferred tax liabilities and a benefit of $3.2 million related to the lower blended tax rate on our earnings in the year ended March 31, 2018, resulting in a net benefit of $270.2 million. Additionally, the Tax Act subjects certain of our cumulative foreign earnings and profits to U.S. income taxes through a deemed repatriation, which resulted in a charge of $1.9 million during the year ended March 31, 2018.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was enacted and signed into law in response to the COVID-19 pandemic. Certain provisions of the CARES Act impacted us and were reflected in our 2020 income tax provision computations. The CARES Act contains modifications on the limitation of business interest for tax years beginning in 2019 and 2020. The modifications to Section 163(j) increase the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income. This modification increased our allowable interest expense deduction and resulted in a lower taxable income for 2020. As a result of the CARES Act, it is anticipated that we will fully utilize the interest expense deduction on our 2020 tax return.

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 FASB ASC 740 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. 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. As a result, we have applied such guidance in determining our tax uncertainties.

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 Income (Loss) and Comprehensive Income (Loss).

Earnings (Loss) Per Share Basic earnings (loss) per share is computed based on income available to common stockholders and the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on income available to common stockholders and 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 and restricted stock units ("RSUs"). Potential common shares, composed of the incremental common shares issuable upon the exercise of outstanding stock options and unvested RSUs, are included in the diluted earnings per share calculation to the extent that they are dilutive. In loss periods, the assumed exercise of in-the-money stock options and RSUs has an antidilutive effect, and therefore these instruments are excluded from the computation of diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share:


	Year Ended March 31,
(In thousands, except per share data)	2020		2019		2018
Numerator
Net income (loss)	$	142,281	$	(35,800)	$	339,570



Denominator
Denominator for basic earnings (loss) per share - weighted average shares outstanding	50,723		52,068		53,099
Dilutive effect of unvested restricted stock units and options issued to employees and directors	417		—		427
Denominator for diluted earnings (loss) per share	51,140		52,068		53,526

Earnings (loss) per Common Share:
Basic net earnings (loss) per share	$	2.81	$	(0.69)	$	6.40



Diluted net earnings (loss) per share	$	2.78	$	(0.69)	$	6.34

For 2020, 2019, and 2018 there were 0.3 million, 1.4 million, and 0.4 million shares, respectively, 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.

Leases

We lease real estate and equipment for use in our operations. These leases have lease terms of 1 to 10 years, some of which include options to terminate or extend leases for up to 1 to 6 years or on a month-to-month basis. The exercise of lease renewal options is at our sole discretion and our lease right-of-use ("ROU") assets and liabilities reflect only the options we are reasonably certain that we will exercise.

We determine if an arrangement is or contains a lease at inception by assessing whether the arrangement contains an identified asset and whether we have the right to control the identified asset. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. ROU assets are based on the measurement of the lease liability and also include any lease payments made prior to or on lease commencement and exclude lease incentives and initial direct costs incurred, as applicable.

Variable lease payments, which do not vary based on an index or rate, are excluded from the ROU asset and lease liability determination. Variable lease payments are typically usage-based and are recorded in the period in which the obligation for those payments is incurred. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As the implicit rate in our leases is unknown, we used our incremental borrowing rate based on the information available at the date of adoption for existing leases and at the lease commencement date for new leases in determining the present value of future lease payments. We give consideration to our credit risk, term of the lease, total lease payments and adjust for the impacts of collateral, as necessary, when calculating our incremental borrowing rates. Rent expense for our operating leases is recognized on a straight-line basis over the lease term.

For the measurement and classification of our lease agreements, we group lease and non-lease components into a single lease component for all underlying asset classes. We have also elected to exclude any leases within our existing classes of assets with a term of twelve months or less.

Recently Adopted Accounting Pronouncements

In February 2016, the FASB issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842). This update amended a number of aspects of lease accounting, including requiring lessees to recognize all leases with a term greater than one year as a ROU asset and corresponding lease liability, measured at the present value of the lease payments. On April 1, 2019, we adopted Topic 842 using the modified retrospective approach. Results for the year ended March 31, 2020 are presented under Topic 842. No prior period amounts were adjusted and the prior period continues to be reported in accordance with previous lease guidance, ASC Topic 840, Leases.

The new standard provided a number of optional practical expedients in transition. We elected the package of transition provisions available for expired or existing contracts, which allowed us to carryforward our historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs.

The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2019 are as follows:


(In thousands)	March 31, 2019		New Lease Standard Adjustment		April 1, 2019
Assets:
Operating lease ROU assets	$	—	$	17,435	$	17,435

Liabilities:
Operating lease liabilities, current portion	$	—	$	(5,697)	$	(5,697)
Long-term operating lease liabilities, net of current portion	$	—	$	(13,296)	$	(13,296)
Other accrued liabilities ⁽¹⁾	$	(60,663)	$	1,558	$	(59,105)

(1) Relates to deferred rent and exit costs associated with existing leases.

Adoption of this accounting pronouncement had no impact on our other financial statements.

See above for our lease accounting policy.

Recently Issued Accounting Pronouncements

In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by eliminating certain required disclosures and incorporating others. The amendments are effective for public companies for fiscal years ending after December 15, 2020. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements in Topic 820, with a particular focus on Level 3 investments, by eliminating certain required disclosures and incorporating others. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments. The amendments in this update provide financial statement users with more useful information about expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. These amendments clarify and improve areas of guidance related to recently issued standards on the topics of credit losses, hedging and recognition and measurements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief, which provides entities that have certain instruments an option to irrevocably elect the

fair value option in Subtopic 825-10. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326 - Financial Instruments - Credit Losses, which clarifies guidance on how to report expected recoveries. In February 2020, the FASB issued ASU 2020-02, Financial Instruments - Credit Losses (Topic 326) and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842), which adds a paragraph on loan losses to FASB Codification Topic 326. The amendments in these updates are effective for us for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact of adopting this guidance on our Consolidated Financial Statements.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update eliminate the need for an organization to analyze whether certain exceptions apply for tax purposes. It also simplifies GAAP for certain taxes. The amendments in these updates are effective for us for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We are currently evaluating the impact of adopting this guidance on our Consolidated Financial Statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update are elective and apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The amendments in this update provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. An entity may elect to apply the amendments prospectively through December 31, 2022. We are currently evaluating the impact of adopting this guidance on our Consolidated Financial Statements.

Divestiture

12 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Divestiture

On July 2, 2018, we sold the Comet®, Spic and Span®, Chore Boy®, Chlorinol® and Cinch® brands, as well as associated

inventory. These brands represented our Household Cleaning segment.

As a result of this transaction, we received proceeds of approximately $65.9 million and recorded a pre-tax gain on sale of $1.3 million. The net proceeds were used to repay debt.

The following table sets forth the components of the assets sold and the pre-tax gain recognized on the sale in July 2018:


(In thousands)	July 2, 2018
Components of assets sold:
Inventory	$	6,644
Property, plant and equipment, net	653
Goodwill	6,245
Intangible assets, net	49,315
Assets sold	62,857
Total purchase price received	65,912
	(3,055)
Costs to sell	1,771
Pre-tax gain on divestiture	$	(1,284)

Accounts Receivable

12 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Accounts Receivable

Accounts receivable consist of the following:


	March 31,
(In thousands)	2020		2019
Components of Accounts Receivable
Trade accounts receivable	$	170,151	$	161,047
Other receivables	560		705
	170,711		161,752
Less allowances for discounts, returns and uncollectible accounts	(20,194)		(12,965)
Accounts receivable, net	$	150,517	$	148,787

Inventories

12 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:


	March 31,
(In thousands)	2020		2019
Components of Inventories
Packaging and raw materials	$	9,803	$	17,082
Work in process	355		161
Finished goods	105,868		102,637
Inventories	$	116,026	$	119,880

Inventories are carried and depicted above at the lower of cost or net realizable value, which includes a reduction in inventory values of $6.5 million and $5.5 million at March 31, 2020 and 2019, respectively, related to obsolete and slow-moving inventory.

Property, Plant and Equipment

12 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment, net consist of the following:


	March 31,
(In thousands)	2020		2019
Components of Property, Plant and Equipment
Land	$	550	$	550
Building	16,508		13,960
Machinery	42,299		38,761
Computer equipment	22,396		20,716
Furniture and fixtures	3,242		3,200
Leasehold improvements	8,964		9,090
Construction in progress	7,769		3,711
	101,728		89,988
Accumulated depreciation	(45,740)		(38,812)
Property, plant and equipment, net	$	55,988	$	51,176

We recorded depreciation expense of $8.8 million, $10.0 million, and $10.1 million for 2020, 2019, and 2018, respectively.

Goodwill

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table summarizes the changes in the carrying value of goodwill by operating segment for each of 2018, 2019, and 2020:


(In thousands)	North American OTC Healthcare			International OTC Healthcare			Household Cleaning			Consolidated
Balance – March 31, 2018
Goodwill	$	711,104		$	32,919		$	71,405		$	815,428
Accumulated impairment losses	(130,170)			—			(65,160)			(195,330)
Balance - March 31, 2018	580,934			32,919			6,245			620,098


2019 Reductions:
Goodwill ^(a)	—			—			(71,405)			(71,405)
Accumulated impairment loss^(a)	—			—			65,160			65,160
Effects of foreign currency exchange rates	—			(1,729)			—			(1,729)
Impairment loss	(33,541)			—			—			(33,541)

Balance – March 31, 2019
Goodwill	711,104			31,190			—			742,294
Accumulated impairment losses	(163,711)		—	—		—	—		—	(163,711)
Balance - March 31, 2019	$	547,393		$	31,190		$	—		$	578,583


2020 Reductions:				—			—			—
Goodwill ^(b)	(750)			—			—			(750)

Effects of foreign currency exchange rates	—			(2,654)			—			(2,654)


Balance – March 31, 2020
Goodwill	710,354			28,536			—			738,890
Accumulated impairment losses	(163,711)			—			—			(163,711)
Balance - March 31, 2020	$	546,643		$	28,536		$	—		$	575,179

(a) As discussed in Note 2, on July 2, 2018, we sold our Household Cleaning segment. As a result, we decreased goodwill by $6.2 million, net of accumulated impairment charges.

(b) Amount relates to cash received from escrow associated with our acquisition of Fleet.

At February 29, 2020, in conjunction with the annual test for goodwill impairment, which coincides with our annual strategic planning process, there were no indicators of impairment under the analysis and accordingly, no impairment charge was taken.

At February 28, 2019, in conjunction with our annual test for goodwill impairment, we recorded an impairment charge of $33.5 million relating to our North American Oral Care reporting unit. The goodwill impairment was primarily a result of the DenTek and Efferdent/Effergrip tradename impairments discussed in Note 7.

We identify our reporting units in accordance with the FASB ASC Subtopic 280. The carrying value and fair value for intangible assets and goodwill for a reporting unit are calculated based on key assumptions and valuation methodologies previously discussed. 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 February 29, 2020 and February 28, 2019, 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. The estimates and assumptions made in assessing the fair value of 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, reductions in advertising and promotion, or the potential impacts of COVID-19 may require an impairment charge to be recorded in the future.

As a result of our analysis at February 29, 2020, all reporting units tested had a fair value that exceeded their carrying value by at least 10%. We performed a sensitivity analysis on our weighted average cost of capital and we determined that a 50 basis point increase in the weighted average cost of capital would not have resulted in any of our reporting unit’s fair value being less than their carrying value. Additionally, a 50 basis point decrease in the terminal growth rate used for each reporting unit would also not have resulted in any of our reporting unit's fair value being less than their carrying value.

Intangible Assets

12 Months Ended

Mar. 31, 2020

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets

A reconciliation of the activity affecting intangible assets, net for each of 2020 and 2019 is as follows:


	Year Ended March 31, 2020
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2019	$	2,273,191	$	390,283	$	2,663,474
Additions ^(a)	2,760		—		2,760



Effects of foreign currency exchange rates	(10,620)		(482)		(11,102)
Balance – March 31, 2020	$	2,265,331	$	389,801	$	2,655,132

Accumulated Amortization
Balance – March 31, 2019	$	—	$	156,264	$	156,264
Additions	—		19,633		19,633

Effects of foreign currency exchange rates	—		(156)		(156)
Balance – March 31, 2020	$	—	$	175,741	$	175,741

Intangible assets, net – March 31, 2020	$	2,265,331	$	214,060	$	2,479,391

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,195,617	$	209,604	$	2,405,221
International OTC Healthcare	69,714		4,456		74,170

Intangible assets, net – March 31, 2020	$	2,265,331	$	214,060	$	2,479,391

(a) Amount relates to the acquisition of additional rights to an existing tradename.


	Year Ended March 31, 2019
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2018	$	2,490,303	$	441,314	$	2,931,617

Reclassifications	(25,152)		25,152		—
Reductions	(30,562)		(34,889)		(65,451)
Tradename impairment	(154,967)		(40,953)		(195,920)
Effects of foreign currency exchange rates	(6,431)		(341)		(6,772)
Balance – March 31, 2019	$	2,273,191	$	390,283	$	2,663,474

Accumulated Amortization
Balance – March 31, 2018	$	—	$	150,701	$	150,701
Additions	—		21,767		21,767
Reductions	—		(16,136)		(16,136)
Effects of foreign currency exchange rates	—		(68)		(68)
Balance – March 31, 2019	$	—	$	156,264	$	156,264

Intangible assets, net – March 31, 2019	$	2,273,191	$	234,019	$	2,507,210

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,195,617	$	228,743	$	2,424,360
International OTC Healthcare	77,574		5,276		82,850

Intangible assets, net – March 31, 2019	$	2,273,191	$	234,019	$	2,507,210

As discussed in Note 2, on July 2, 2018, we sold our Household Cleaning segment. As a result, we decreased our indefinite-lived intangibles by $30.5 million and our net finite-lived trademarks by $18.8 million.

During the fourth quarter of each fiscal year, in conjunction with our strategic planning process, we perform our annual impairment analysis. We utilized the excess earnings method to estimate the fair value of our individual indefinite-lived intangible assets. The discount rate utilized in the analyses, as well as future cash flows, may be influenced by such factors as changes in interest rates and rates of inflation. Additionally, should the related fair values of intangible assets be adversely affected as a result of declining sales or margins caused by competition, changing consumer needs or preferences, technological advances, changes in advertising and promotional expenses, or the potential impacts of COVID-19 we may be required to record impairment charges in the future.

At February 29, 2020, in conjunction with the annual test for impairment of intangible assets, there were no indicators of impairment under the analysis and accordingly, no impairment charge was taken.

As a result of our analysis at February 28, 2019, the fair values of three of our indefinite-lived intangible assets, Fleet, DenTek and Efferdent/Effergrip, did not exceed the carrying values and as such, impairment charges of $155.0 million were recorded. In addition, in connection with the impairment analysis, the Efferdent/Effergrip intangible asset was determined to have a finite life, and as such, we began amortizing it prospectively over its estimated remaining useful life. The impairment charges were the result of our reassessment of the long-term sales projections for these brands during our annual planning cycle as well as an overall increase in the discount rate used to value the brands.

As a result of our analysis at February 29, 2020, all indefinite-lived intangible assets tested had a fair value that exceeded their carrying value by at least 10%. We performed a sensitivity analysis of our weighted average cost of capital and we determined that a 50 basis point increase in the weighted average cost of capital used to value the indefinite-lived intangible assets would not have resulted in any of our indefinite-lived intangible assets' fair value being less than their carrying value. Additionally, a 50 basis point decrease in the terminal growth rate used for each of our indefinite-lived intangible assets' would also not have resulted in any of our indefinite-lived intangible assets' fair value being less than their carrying value.

As a result of our analysis at February 28, 2019, the fair value of several of our non-core finite-lived trademarks did not exceed their carrying values, and as such, impairment charges of $41.0 million were recorded. The impairment charges were the result of our reassessment of the long-term sales projections for the associated brands during our annual planning cycle, in certain instances the discontinuance of brands, as well as an overall increase in the discount rate used to value the brands.

The assets impaired in 2019 are all part of our North America OTC segment.

The weighted average remaining life for finite-lived intangible assets at March 31, 2020 was approximately 10.9 years, and the amortization expense for the year ended March 31, 2020 was $19.6 million. At March 31, 2020, finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 10 to 30 years, and the estimated amortization expense for each of the five succeeding years and periods thereafter is as follows (in thousands):


(In thousands)
Year Ending March 31,	Amount
2021	19,606
2022	19,605
2023	19,605
2024	19,578
2025	17,535
Thereafter	118,131
	$	214,060

Leases

12 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

The components of lease expense for the year ended March 31, 2020 were as follows:


(In thousands)
Finance lease cost:
Amortization of right-of-use assets	$	522
Interest on lease liabilities	84
Operating lease cost	7,914
Short term lease cost	104
Variable lease cost	64,230
Sublease income	(3,441)
Total net lease cost	$	69,413

As of March 31, 2020, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2021	$	7,019	$	1,404	$	8,423
2022	6,497		1,404		7,901
2023	6,305		1,404		7,709
2024	6,294		1,404		7,698
2025	4,123		700		4,823
Thereafter	4,973		—		4,973
Total undiscounted lease payments	35,211		6,316		41,527
Less amount of lease payments representing interest	(4,722)		(470)		(5,192)
Total present value of lease payments	$	30,489	$	5,846	$	36,335

The weighted average remaining lease term and weighted average discount rate were as follows:


		March 31, 2020
Weighted average remaining lease term (years)
	Operating leases	5.40
	Financing leases	4.50
Weighted average discount rate
	Operating leases	5.28	%
	Financing leases	3.55	%

The following table summarizes future minimum lease payments for our operating leases as of March 31, 2019, before adoption of Topic 842:


(In thousands)	Facilities		Equipment		Total
Year Ending March 31,
2020	$	2,828	$	314	$	3,142
2021	2,633		248		2,881
2022	2,265		213		2,478
2023	1,684		105		1,789
2024	1,705		—		1,705
Thereafter	6,780		—		6,780
	$	17,895	$	880	$	18,775

In May 2019, we entered into a Master Logistics Services Agreement with GEODIS Logistics LLC (“GEODIS”), pursuant to which GEODIS serves as a new third party logistics provider. The agreement has an initial term of five years with an option to renew for an additional five year term. Under the Master Logistics Services Agreement, we authorized GEODIS to lease a facility under a five year term. The lease commenced in July 2019, and the lease and non-lease components were recorded in our second quarter fiscal year 2020 financial statements. The ROU asset and operating lease liability at lease commencement was $18.9 million. In late fiscal 2020, we recorded a finance lease for assets purchased by GEODIS for our use per the Master Logistics Service Agreement.

Leases

The components of lease expense for the year ended March 31, 2020 were as follows:


(In thousands)
Finance lease cost:
Amortization of right-of-use assets	$	522
Interest on lease liabilities	84
Operating lease cost	7,914
Short term lease cost	104
Variable lease cost	64,230
Sublease income	(3,441)
Total net lease cost	$	69,413

As of March 31, 2020, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2021	$	7,019	$	1,404	$	8,423
2022	6,497		1,404		7,901
2023	6,305		1,404		7,709
2024	6,294		1,404		7,698
2025	4,123		700		4,823
Thereafter	4,973		—		4,973
Total undiscounted lease payments	35,211		6,316		41,527
Less amount of lease payments representing interest	(4,722)		(470)		(5,192)
Total present value of lease payments	$	30,489	$	5,846	$	36,335

The weighted average remaining lease term and weighted average discount rate were as follows:


		March 31, 2020
Weighted average remaining lease term (years)
	Operating leases	5.40
	Financing leases	4.50
Weighted average discount rate
	Operating leases	5.28	%
	Financing leases	3.55	%

The following table summarizes future minimum lease payments for our operating leases as of March 31, 2019, before adoption of Topic 842:


(In thousands)	Facilities		Equipment		Total
Year Ending March 31,
2020	$	2,828	$	314	$	3,142
2021	2,633		248		2,881
2022	2,265		213		2,478
2023	1,684		105		1,789
2024	1,705		—		1,705
Thereafter	6,780		—		6,780
	$	17,895	$	880	$	18,775

Other Accrued Liabilities

12 Months Ended

Mar. 31, 2020

Payables and Accruals [Abstract]

Other Accrued Liabilities

Other accrued liabilities consist of the following:


	March 31,
(In thousands)	2020		2019
Accrued marketing costs	$	34,450	$	31,228
Accrued compensation costs	13,393		10,958
Accrued broker commissions	1,491		1,361
Income taxes payable	3,210		88
Accrued professional fees	4,183		2,441


Accrued production costs	5,628		6,788


Accrued sales tax	1,917		4
Other accrued liabilities	6,491		7,795
	$	70,763	$	60,663

Long-Term Debt

12 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

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


(In thousands, except percentages)	March 31, 2020		March 31, 2019
2016 Senior Notes bearing interest at 6.375%, with interest payable on March 1 and September 1 of each year. The 2016 Senior Notes mature on March 1, 2024.	$	600,000	$	600,000
2013 Senior Notes bearing interest at 5.375%, with interest payable on June 15 and December 15 of each year. The 2013 Senior Notes mature on December 15, 2021, and were redeemed on December 16, 2019.	—		400,000

2019 Senior Notes bearing interest at 5.125%, with interest payable on January 15 and July 15 of each year. The 2019 Senior Notes mature on January 15, 2028.	400,000		—
2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.00%, or an alternate base rate plus a margin of 1.00% with a floor of 1.00% due on January 26, 2024.	690,000		738,000
2012 ABL Revolver bearing interest at the Borrower's option at either a base rate plus applicable margin or LIBOR plus applicable margin. Any unpaid balance is due on December 11, 2024.	55,000		75,000



Long-term debt	1,745,000		1,813,000
Less: unamortized debt costs	(14,700)		(14,402)
Long-term debt, net	$	1,730,300	$	1,798,598

At March 31, 2020, we had $55.0 million outstanding on the 2012 ABL Revolver and a borrowing capacity of $107.3 million.

2012 Term Loan and 2012 ABL Revolver:

On January 31, 2012, the Borrower entered into a senior secured credit facility, which consists of (i) a $660.0 million 2012 Term Loan with an original 7-year maturity and (ii) a $50.0 million asset-based revolving credit facility (the “2012 ABL Revolver”) with an original 5-year maturity. In subsequent years, we have utilized portions of our accordion feature to increase the amount of our borrowing capacity under the 2012 ABL Revolver by $85.0 million to $135.0 million and reduced our borrowing rate on the 2012 ABL Revolver by 0.25% (discussed below). The 2012 Term Loan was issued with an original issue discount of 1.5% of the principal amount thereof, resulting in net proceeds to the Borrower of $650.1 million. The 2012 Term Loan is unconditionally guaranteed by Prestige Consumer Healthcare Inc. and certain of its domestic 100% owned subsidiaries, other than the Borrower. 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 or to make payments to the Borrower or the Company.

On February 21, 2013, we entered into Amendment No. 1 ("Term Loan Amendment No. 1") to the 2012 Term Loan. Term Loan Amendment No. 1 provided for the refinancing of all of the Borrower's existing Term B Loans with new Term B-1 Loans (the "Term B-1 Loans"). The interest rate on the Term B-1 Loans under Term Loan Amendment No. 1 was based, at our option, on a LIBOR rate plus a margin of 2.75% per annum, with a LIBOR floor of 1.00%, or an alternate base rate, with a floor of 2.00%, plus a margin. In addition, Term Loan Amendment No. 1 provided the Borrower with certain additional capacity to prepay subordinated debt, the 2012 Senior Notes and certain other unsecured indebtedness permitted to be incurred under the credit agreement governing the 2012 Term Loan and 2012 ABL Revolver.

On September 3, 2014, we entered into Amendment No. 2 ("Term Loan Amendment No. 2") to the 2012 Term Loan. Term Loan Amendment No. 2 provided for (i) the creation of a new class of Term B-2 Loans under the 2012 Term Loan (the "Term B-2 Loans") in an aggregate principal amount of $720.0 million, (ii) increased flexibility under the credit agreement governing the 2012 Term Loan and 2012 ABL Revolver, including additional investment, restricted payment and debt incurrence flexibility and financial maintenance covenant relief, and (iii) an interest rate on (x) the Term B-1 Loans that was based, at our option, on a LIBOR rate plus a margin of 3.125% per annum, with a LIBOR floor of 1.00%, or an alternate base rate, with a floor of 2.00%, plus a margin, and (y) the Term B-2 Loans that was based, at our option, on a LIBOR rate plus a margin of 3.50% per annum, with a LIBOR floor of 1.00%, or an alternate base rate, with a floor of 2.00%, plus a margin (with a margin step-down to 3.25% per annum, based upon achievement of a specified secured net leverage ratio).

Also on September 3, 2014, we entered into Amendment No. 3 ("ABL Amendment No. 3") to the 2012 ABL Revolver. ABL Amendment No. 3 provided for (i) a $40.0 million increase in revolving commitments under the 2012 ABL Revolver and (ii) increased flexibility under the credit agreement governing the 2012 Term Loan and 2012 ABL Revolver, including additional investment, restricted payment and debt incurrence flexibility. Borrowings under the 2012 ABL Revolver, as amended, bore 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., and (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 applicable margin for borrowings under the 2012 ABL Revolver could 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 the 2012 ABL Revolver 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 by an amount set forth in the credit agreement covering the 2012 ABL Revolver. We may voluntarily repay outstanding loans under the 2012 ABL Revolver at any time without a premium or penalty.

On May 8, 2015, we entered into Amendment No. 3 ("Term Loan Amendment No. 3") to the 2012 Term Loan. Term Loan Amendment No. 3 provided for (i) the creation of a new class of Term B-3 Loans under the 2012 Term Loan (the "Term B-3 Loans") in an aggregate principal amount of $852.5 million, which combined the outstanding balances of the Term B-1 Loans of $207.5 million and the Term B-2 Loans of $645.0 million, and (ii) increased flexibility under the credit agreement governing the 2012 Term Loan and 2012 ABL Revolver, including additional investment, restricted payment, and debt incurrence flexibility and financial maintenance covenant relief. The maturity date of the Term B-3 Loans remained the same as the Term B-2 Loans' original maturity date of September 3, 2021.

On June 9, 2015, we entered into Amendment No. 4 (“ABL Amendment No. 4”) to the 2012 ABL Revolver. ABL Amendment No. 4 provided for (i) a $35.0 million increase in the accordion feature under the 2012 ABL Revolver and (ii) increased flexibility under the credit agreement governing the 2012 Term Loan and the 2012 ABL Revolver, including additional investment, restricted payment, and debt incurrence flexibility and financial maintenance covenant relief and (iii) extended the maturity date of the 2012 ABL Revolver to June 9, 2020, which is five years from the effective date of ABL Amendment No. 4.

In connection with the DenTek acquisition on February 5, 2016, we entered into Amendment No. 5 (“ABL Amendment No. 5”) to the 2012 ABL Revolver. ABL Amendment No. 5 temporarily suspended certain financial and related reporting covenants in the 2012 ABL Revolver until the earliest of (i) the date that was 60 calendar days following February 4, 2016, (ii) the date upon which certain of DenTek’s assets were included in the Company’s borrowing base under the 2012 ABL Revolver and (iii) the date upon which the Company received net proceeds from an offering of debt securities.

In connection with the Fleet acquisition, on January 26, 2017, we entered into Amendment No. 4 ("Term Loan Amendment No. 4") to the 2012 Term Loan. Term Loan Amendment No. 4 provided for (i) the refinancing of all of our outstanding term loans and the creation of a new class of Term B-4 Loans under the 2012 Term Loan (the "Term B-4 Loans") in an aggregate principal

amount of $1,427.0 million and (ii) increased flexibility under the credit agreement governing the 2012 Term Loan and the 2012 ABL Revolver, including additional investment, restricted payment, and debt incurrence flexibility and financial maintenance covenant relief. The maturity date was extended to January 26, 2024. In addition, Citibank, N.A. was succeeded by Barclays Bank PLC as administrative agent under the 2012 Term Loan.

Also on January 26, 2017, we entered into Amendment No. 6 ("ABL Amendment No. 6") to the 2012 ABL Revolver. ABL Amendment No. 6 provides for (i) a $40.0 million increase in revolving commitments under the 2012 ABL Revolver, (ii) an extension of the maturity date of revolving commitments to January 26, 2022, and (iii) increased flexibility under the credit agreement governing the 2012 Term Loan and the 2012 ABL Revolver, including additional investment, restricted payment and debt incurrence flexibility consistent with Term Loan Amendment No. 4. We may voluntarily repay outstanding loans under the 2012 ABL Revolver at any time without a premium or penalty.

On March 21, 2018, we entered into Amendment No. 5 (“Term Loan Amendment No. 5”) to the 2012 Term Loan. Term Loan Amendment No. 5 ("Term B-5 Loans") provided for the repricing of the Term B-4 Loans under the Credit Agreement to an interest rate that is based, at our option, on a LIBOR rate plus a margin of 2.00% per annum, with a LIBOR floor of 0.00%, or an alternative base rate plus a margin of 1.00% per annum with a floor of 1.00%.

On December 11, 2019, we entered into Amendment No. 7 ("ABL Amendment No. 7") to the 2012 ABL Revolver. ABL Amendment No. 7 provides for (i) an extension of the maturity date of the revolving credit facility to December 11, 2024, which is five years from the effective date of the amendment, (ii) increased flexibility under the 2012 ABL Revolver, including additional investment, restricted payment, and debt incurrence flexibility, (iii) an initial applicable margin for borrowings under the 2012 ABL Revolver that is 1.00% with respect to LIBOR borrowings and 0.0% with respect to base-rate borrowings (which may be increased to 1.25% or 1.50% for LIBOR borrowings and 0.25% or 0.50% for base-rate borrowings, depending on average excess availability under the facility during the prior fiscal quarter) and (iv) a commitment fee to the lenders under the 2012 ABL Revolver in respect of the unutilized commitments thereunder of 0.25% per annum.

For the year ended March 31, 2020, the average interest rate on the 2012 Term Loan was 4.6% and the average interest rate on the amounts borrowed under the 2012 ABL Revolver was 4.0%.

2013 Senior Notes:

On December 17, 2013, the Borrower issued $400.0 million of senior unsecured notes, with an interest rate of 5.375% and a maturity date of December 15, 2021 (the "2013 Senior Notes"). These notes were redeemed on December 16, 2019 using the funds from the issuance of our 2019 Senior Notes described below.

2016 Senior Notes:

On February 19, 2016, the Borrower completed the sale of $350.0 million aggregate principal amount of 6.375% senior notes due March 1, 2024 (the “Initial Notes”), pursuant to a purchase agreement, dated February 16, 2016, among the Borrower, the guarantors party thereto (the “Guarantors”) and the initial purchasers party thereto. The 2016 Senior Notes are guaranteed by Prestige Consumer Healthcare Inc. and certain of its domestic 100% owned subsidiaries, other than the Borrower. 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 or to make payments to the Borrower or the Company.

The 2016 Senior Notes were issued pursuant to an indenture, dated February 19, 2016 (the “Indenture”). The Indenture provides, among other things, that interest will be payable on the 2016 Senior Notes on March 1 and September 1 of each year, beginning on September 1, 2016, until their maturity date of March 1, 2024. The 2016 Senior Notes are senior unsecured obligations of the Borrower.

On March 21, 2018, we completed the sale of $250.0 million aggregate principal amount of 6.375% senior notes due 2024 (the “Additional Notes”), at an issue price of 101.0%, pursuant to a purchase agreement, dated March 16, 2018, among Prestige Consumer Healthcare Inc., the guarantors party thereto and the initial purchasers party thereto. The Additional Notes are senior unsecured obligations of Prestige Consumer Healthcare Inc. and are guaranteed by each of Prestige Consumer Healthcare's domestic subsidiaries that guarantee its obligations under the 2012 Term Loan. We used the proceeds from the issuance of the Additional Notes to repay a portion of our outstanding obligations under the 2012 Term Loan and to pay related fees and expenses. The Additional Notes will be treated as a single series with the $350.0 million aggregate principle amount of Initial Notes (the Initial Notes and, together with the Additional Notes, the “2016 Senior Notes”).

2019 Senior Notes:

On December 2, 2019, we issued $400.0 million aggregate principal amount of 5.125% senior notes ("2019 Senior Notes") pursuant to an indenture dated December 2, 2019, among Prestige Brands, Inc., the guarantors party thereto (including the Company) and the U.S. Bank National Association, as a trustee. The 2019 Senior Notes mature on January 15, 2028. We used the net proceeds from the 2019 Senior Notes, together with cash on hand, to redeem all $400.0 million of our outstanding 2013 Senior Notes, which were due in 2021, and to pay related fees and expenses. In conjunction with the redemption of our 2013 Senior Notes, we wrote off related debt costs of $2.2 million.

Redemptions and Restrictions:

We have the option to redeem all or a portion of the 2016 Senior Notes at any time on or after March 1, 2019 at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any. Subject to certain limitations, in the event of a change of control (as defined in the Indenture), we will be required to make an offer to purchase the 2016 Senior Notes at a price equal to 101% of the aggregate principal amount of the notes repurchased, plus accrued and unpaid interest, if any, to the date of repurchase.

The indentures governing the 2019 Senior Notes and the 2016 Senior Notes 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 governing the 2012 Term Loan and the 2012 ABL Revolver and the indentures governing the 2019 Senior Notes and the 2016 Senior Notes 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 governing the 2012 Term Loan and the 2012 ABL Revolver and the indentures governing the 2019 Senior Notes and the 2016 Senior Notes. At March 31, 2020, we were in compliance with the covenants under our long-term indebtedness.

Interest Rate Swaps:

In January 2020, we entered into two interest rate swaps to hedge a total of $400.0 million of our variable interest debt (see Note 12 for further details).

At March 31, 2020, we had an aggregate of $1.1 million of unamortized debt costs related to the 2012 ABL Revolver included in other long-term assets, and $14.7 million of unamortized debt costs included in long-term debt costs, the total of which is comprised of $5.8 million related to the 2019 Senior Notes, $3.5 million related to the 2016 Senior Notes, and $5.4 million related to the 2012 Term Loan.

At March 31, 2019, we had an aggregate of $0.8 million of unamortized debt costs related to the 2012 ABL Revolver included in other long-term assets, and $14.4 million of unamortized debt costs included in long-term debt costs, the total of which is comprised of $2.8 million related to the 2013 Senior Notes, $4.3 million related to the 2016 Senior Notes, and $7.3 million related to the 2012 Term Loan.

As of March 31, 2020, aggregate future principal payments required in accordance with the terms of the 2012 Term Loan, 2012 ABL Revolver and the indentures governing the 2016 Senior Notes and the 2019 Senior Notes are as follows:


(In thousands)
Year Ending March 31,	Amount
2021	$	—
2022	—
2023	—
2024	1,290,000
2025	55,000
Thereafter			400,000
			$	1,745,000

Fair Value Measurements

12 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

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 820 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 2016 Senior Notes, the 2019 Senior Notes, the Term B-5 Loans, the 2012 ABL Revolver and our interest rate swaps are measured in Level 2 of the above hierarchy (see summary below detailing the carrying amounts and estimated fair values of these instruments at March 31, 2020 and 2019).


	March 31, 2020						March 31, 2019
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
2016 Senior Notes	$	600,000	$	603,000	$	600,000	$	606,000
2013 Senior Notes	—		—		400,000		401,500

2019 Senior Notes	400,000		386,000		—		—
2012 Term B-5 Loans	690,000		638,250		738,000		728,775
2012 ABL Revolver	55,000		55,000		75,000		75,000
Interest rate swaps	6,317		6,317		—		—

At March 31, 2020 and 2019, we did not have any assets or liabilities measured in Level 1 or 3. During 2020, 2019 and 2018, there were no transfers of assets or liabilities between Levels 1, 2 and 3.

In accordance with ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), investments that are measured at fair value using net asset value ("NAV") per share as a practical expedient have not been classified in the fair value hierarchy.

- 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 + Details

Derivative Instruments and Hedging Activities

12 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Changes in interest rates expose us to risks. To help us manage these risks, in January 2020 we entered into two interest rate swaps to hedge a total of $400.0 million of our variable interest debt. The fair value of these interest rate swaps is reflected in the Consolidated Balance Sheets in other accrued liabilities and other long-term liabilities. We do not use derivatives for trading purposes.

The following table summarizes the fair values of our derivative instruments as of the March 31, 2020:


(In thousands)	Hedge Type	Final Settlement Date	Notional Amount		Other Accrued Liabilities		Other Long-Term Liabilities
Interest rate swap	Cash flow	1/31/2021	$	200,000	$	(1,905)	$	—
Interest rate swap	Cash flow	1/31/2022	$	200,000	—		(4,412)
Total fair value					$	(1,905)	$	(4,412)

The following table summarizes our interest rate swaps, net of tax, for the periods shown:


(In thousands)	Location		2020		2019
Loss Recognized in Other Comprehensive Loss (effective portion)		Other comprehensive income (loss)		(4,864)		$	—
Gain (Loss) Reclassified from Accumulative Other Comprehensive Loss into Income		Interest expense		—		—
Gain Recognized as Income		Interest expense		62		—

We expect pre-tax losses of $1.9 million associated with interest rate swaps, currently reported in accumulated other comprehensive loss, to be reclassified into income over the next twelve months. The amount ultimately realized, however, will differ as interest rates change and the underlying contracts settle.

Counterparty Credit Risk:

Interest rate swaps expose us to counterparty credit risk for non-performance. We manage our exposure to counterparty credit risk by only dealing with counterparties who are substantial international financial institutions with significant experience using such derivative instruments.

Stockholders' Equity

12 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

The Company is 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 the Company's common stock through March 31, 2020.

During the years ended March 31, 2020 and 2019, we repurchased shares of our common stock and recorded them as treasury stock. Our share repurchases consisted of the following:


	Year Ended March 31,
	2020	2019
Shares repurchased pursuant to the provisions of the various employee restricted stock awards:
Number of shares	31,018	68,939
Average price per share	$31.39	$33.09
Total amount repurchased	$1.0 million	$2.3 million

Shares repurchased in conjunction with our share repurchase program:
Number of shares	1,816,901	1,449,750
Average price per share	$31.22	$34.47
Total amount repurchased	$56.7 million	$50.0 million

Share-Based Compensation

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

Share-Based CompensationIn connection with our initial public offering, the Board of Directors adopted the 2005 Long-Term Equity Incentive Plan (the “Plan”), which provides for grants of up to a maximum of 5.0 million shares of restricted stock, stock options, RSUs and other equity-based awards. In June 2014, the Board of Directors approved, and in July 2014, the stockholders ratified, an increase of an additional 1.8 million shares of our common stock for issuance under the Plan, an increase of the maximum number of shares subject to stock options that may be awarded to any one participant under the Plan during any fiscal 12-month period from 1.0 million to 2.5 million shares, and an extension of the term of the Plan by ten years, to February 2025. 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 2020, pre-tax share-based compensation costs charged against income and the related income tax benefit recognized were $7.6 million and $1.2 million, respectively.

During 2019, pre-tax share-based compensation costs charged against income and the related income tax benefit recognized were $7.4 million and $1.4 million, respectively.

During 2018, pre-tax share-based compensation costs charged against income and the related income tax benefit recognized were $8.9 million and $1.8 million, respectively.

At March 31, 2020, there were $6.0 million of unrecognized compensation costs related to unvested 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 year. The total fair value of options and RSUs vested during 2020, 2019, and 2018 was $7.8 million, $12.0 million and $6.8 million, respectively. Cash received from the exercise of stock options was $1.3 million during 2020, and we realized $0.7 million in tax benefits for the tax deductions resulting from RSU issuances and option exercises in 2020. Cash received from the exercise of stock options was $2.9 million during 2019, and we realized $1.3 million in tax benefits for the tax deductions resulting from RSU issuances and option exercises in 2019. Cash received from the exercise of stock options was $1.6 million during 2018, and we realized $1.1 million in tax benefits for the tax deductions from RSU issuances and option exercises in 2018. At March 31, 2020, there were 1.5 million shares available for issuance under the Plan.

On May 6, 2019, the Compensation and Talent Management Committee of our Board of Directors granted 98,644 performance stock units, 89,286 RSUs and stock options to acquire 281,487 shares of our common stock under the Plan to certain executive officers and employees. The stock options were granted at an exercise price of $30.56 per share, which was equal to the closing price for our common stock on the date of the grant.

On May 13, 2019, the Compensation and Talent Management Committee of our Board of Directors granted 7,287 RSUs and stock options to acquire 21,194 shares of our common stock under the Plan to a recently hired executive officer. The stock options were granted at an exercise price of $30.19 per share, which was equal to the closing price for our common stock on the date of the grant.

Each of the independent members of the Board of Directors received a grant under the Plan of 4,183 RSUs on July 30, 2019.

Restricted Stock Units

RSUs granted to employees under the Plan generally vest in three years, primarily upon the attainment of certain time vesting thresholds, and, in the case of performance share units, may also be contingent on the attainment of certain performance goals of the Company, including revenue and earnings before interest, income taxes, depreciation and amortization targets. The RSUs provide for accelerated vesting if there is a change of control, as defined in the Plan. The RSUs granted to employees generally vest either ratably over three years or in their entirety on the three-year anniversary of the date of the grant. Upon vesting, the units will be settled in shares of our common stock. Termination of employment prior to vesting will result in forfeiture of the RSUs, unless otherwise accelerated by the Compensation and Talent Management Committee or, in the case of RSUs granted in May 2017, 2018 and 2019, subject to pro-rata vesting in the event of death, disability or retirement. The RSUs granted to directors prior to fiscal 2020 vest immediately upon grant, and will be settled by delivery to the director of one share of our common stock for each vested RSU promptly following the earliest of the (i) director's death, (ii) director's disability or (iii) six-month anniversary of the date on which the director's Board membership ceases for reasons other than death or disability. The RSUs granted to directors in July 2019 vest immediately upon grant, and will be settled by delivery to the director of one share of our common stock for each vested RSU promptly following the earliest of (i) the director's death, (ii) the director's separation from service or (iii) a change in control of the Company.

The fair value of the RSUs is determined using the closing price of our common stock on the date of the grant.

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


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

Vested and unvested at March 31, 2017	350.1	$	39.29

Granted	105.8	55.61
Vested and issued	(53.3)	34.30
Forfeited	(9.1)	48.76
Vested and unvested at March 31, 2018	393.5	44.13
Vested at March 31, 2018	90.5	29.88

Granted	226.4	30.09
Vested and issued	(175.8)	43.05
Forfeited	(31.1)	48.32
Vested and unvested at March 31, 2019	413.0	36.58
Vested at March 31, 2019	113.2	31.05

Granted	220.3	31.02
Vested and issued	(87.0)	46.78
Forfeited	(34.2)	35.97
Vested and unvested at March 31, 2020	512.1	32.49
Vested at March 31, 2020	124.2	30.54

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 ten 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. Except in the case of death, disability or retirement, termination of employment prior to vesting will result in forfeiture of the unvested stock options. Vested stock options will remain exercisable by the employee after termination of employment, subject to the terms 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 and other factors, including the historical volatilities of comparable companies. 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, management’s estimates, and consideration of information derived from the public filings of companies similar to us, 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 options.


	Year Ended March 31,
	2020			2019			2018
Expected volatility	30.9-31.3		%	29.6		%	35.2		%
Expected dividends	—			—			—
Expected term in years	6.0 to 7.0			6.0			6.0
Risk-free rate	2.3% to 2.4%			2.9		%	2.2		%
Weighted-average grant date fair value of options granted	$	10.83		$	10.22		$	21.20

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, 2017	772.3	$	37.70

Granted	182.8	56.11
Exercised	(55.7)	29.08
Forfeited or expired	(26.2)	48.19
Outstanding at March 31, 2018	873.2	41.79

Granted	294.5	29.46
Exercised	(97.7)	30.02
Forfeited or expired	(125.4)	47.16
Outstanding at March 31, 2019	944.6	38.45

Granted	302.7	30.53
Exercised	(47.9)	27.60
Forfeited or expired	(179.2)	42.49
Outstanding at March 31, 2020	1,020.2	35.90		6.7	$	6,214
Exercisable at March 31, 2020	566.2	38.66		5.2	$	3,514

The aggregate intrinsic value of options exercised during 2020, 2019 and 2018 was $0.4 million, $0.8 million and $1.2 million, respectively.

Accumulated Other Comprehensive Loss

12 Months Ended

Mar. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

The table below presents accumulated other comprehensive income (loss) (“AOCI”), which affects equity and results from recognized transactions and other economic events, other than transactions with owners in their capacity as owners.

AOCI consisted of the following at March 31, 2020 and 2019:


	March 31,		March 31,
(In thousands)	2020		2019
Components of Accumulated Other Comprehensive Loss
Cumulative translation adjustment	$	(39,241)	$	(26,878)
Unrealized loss on interest rate swaps, net of tax of $1,453	(4,864)		—
Unrecognized net (loss) gain on pension plans, net of tax of $(17) and $338, respectively	(56)		1,131
Accumulated other comprehensive loss, net of tax	$	(44,161)	$	(25,747)

As of March 31, 2020 and 2019, no amounts were reclassified from accumulated other comprehensive income into earnings.

Income Taxes

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Income TaxesOn December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act represented significant U.S. federal tax reform legislation that included a permanent reduction to the U.S. federal corporate income tax rate. The permanent reduction to the federal corporate income tax rate resulted in a one-time benefit of $267.0 million related to the value of our deferred tax liabilities and a benefit of $3.2 million related to the lower blended tax rate on our earnings, in the year ended March 31, 2018, resulting in a net benefit of $270.2 million. Additionally, the tax reform

legislation subjects certain of our cumulative foreign earnings and profits to U.S. income taxes through a deemed repatriation, which resulted in a charge of $1.9 million in the year ended March 31, 2018.

On March 27, 2020, the CARES Act was enacted and signed into law in response to the COVID-19 pandemic. Certain provisions of the CARES Act impacted us and were reflected in our 2020 income tax provision computations. The CARES Act contains modifications on the limitation of business interest for tax years beginning in 2019 and 2020. The modifications to Section 163(j) increase the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income. This modification increased our allowable interest expense deduction and resulted in a lower taxable income for 2020. As a result of the CARES Act, it is anticipated that we will fully utilize the interest expense deduction on our 2020 tax return.

Income (loss) before income taxes consists of the following:


	Year Ended March 31,
(In thousands)	2020		2019		2018
United States	$	167,508	$	(52,313)	$	84,435
Foreign	23,643		14,258		22,651

	$	191,151	$	(38,055)	$	107,086

The provision (benefit) for income taxes consists of the following:


	Year Ended March 31,
(In thousands)	2020		2019		2018
Current
Federal	$	24,051	$	27,629	$	31,327
State	2,506		3,156		2,686
Foreign	8,473		7,193		5,588
Deferred
Federal	14,119		(35,760)		(270,796)
State	(341)		(4,101)		(1,240)
Foreign	62		(372)		(49)
Total provision (benefit) for income taxes	$	48,870	$	(2,255)	$	(232,484)

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


	March 31,
(In thousands)	2020		2019
Deferred Tax Assets
Allowance for doubtful accounts and sales returns	$	4,996	$	3,285
Inventory capitalization	1,168		1,245
Inventory reserves	705		1,267
Net operating loss carryforwards	115		226
State income taxes	8,896		9,003
Accrued liabilities	1,308		1,785
Accrued compensation	4,472		4,416
Stock compensation	4,334		4,206
Foreign tax credit	5,441		3,236
Interest	—		154
Lease liability	8,228		—
Unrealized foreign exchange loss	257		—
Other	13,191		7,691
Total deferred tax assets	$	53,111	$	36,514

Deferred Tax Liabilities
Property, plant and equipment	$	(7,590)	$	(6,002)
Intangible assets	(438,601)		(425,134)
Deferred cumulative catch-up adjustments - revenue recognition adjustments	(522)		(721)
Right-of-use asset	(7,876)		—
Total deferred tax liabilities	$	(454,589)	$	(431,857)

Net deferred tax liability before valuation allowance	$	(401,478)	$	(395,343)
Valuation allowance	(5,441)		(3,236)
Net deferred tax liability	$	(406,919)	$	(398,579)

The net deferred tax liability shown above is net of $0.9 million of foreign deferred tax assets as of March 31, 2020 and $1.0 million of foreign deferred tax assets as of March 31, 2019.

At March 31, 2020 and 2019, we have a valuation allowance of $5.4 million and $3.2 million, respectively, related to certain deferred tax assets that we have concluded are not more likely than not to be realized. The increase in the valuation allowance related to unutilized foreign tax credit carryovers, as further described below.

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


	Year Ended March 31,
	2020					2019				2018
(In thousands)			%			%			%
Income tax provision (benefit) at statutory rate	$	40,142	21.0	$	(7,992)	21.0	$	37,480	35.0
Foreign tax provision (benefit)	2,498		1.3	2,866		(7.5)	(2,084)		(1.9)
State income taxes, net of federal income tax benefit	1,606		0.8	(1,710)		4.5	1,414		1.3
Impact of tax legislation	—		—	—		—	(268,244)		(250.5)

Goodwill impairment	—		—	5,616		(14.8)	—		—
R&D	(320)		(0.2)	(629)		1.7	—		—
Compensation limitations	562		0.3	296		(0.8)	—		—
Valuation allowance	2,205		1.2	2,627		(6.9)	(2,828)		(2.6)
Gain on sale	—		—	1,312		(3.4)	—		—


Other	2,177		1.2	(4,641)		12.1	1,778		1.6
Total provision (benefit) for income taxes	$	48,870	25.6	$	(2,255)	5.9	$	(232,484)	(217.1)

Uncertain tax liability activity is as follows:


	2020		2019		2018
(In thousands)
Balance – beginning of year	$	9,874	$	10,827	$	3,651
Additions based on tax positions related to the current year	495		585		7,286
Reductions based on lapse of statute of limitations	—		(650)		(110)
Payments and other movements	—		(888)		—
Balance – end of year	$	10,369	$	9,874	$	10,827

We recognize interest and penalties related to uncertain tax positions as a component of income tax (benefit) expense. We did not incur any material interest or penalties related to income taxes in 2020, 2019 or 2018. We reasonably anticipate that uncertain tax positions could decrease in the next year by approximately $6.7 million, principally due to the statute of limitation expirations if recognized and would impact the effective tax rate in a future period. 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, 2016 forward.

In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed income (“GILTI”) provisions of the Tax Act. The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. Pursuant to the FASB guidance, we elected to treat any potential GILTI inclusions as a period cost without recognizing any related potential deferred tax liabilities or assets.

Our current foreign tax credit analysis is suggestive of annual foreign tax credit limitation anticipated to be less than foreign income taxes accrued during the year. The operating conditions giving rise to such excess credit condition may be anticipated to continue into future tax years. As a result, we have recognized a full valuation allowance for the deferred tax asset recognized in respect of unutilized foreign tax credit carryovers, which are limited to ten-year carryovers under IRC §904(c). Such excess credit condition did not exist in prior years; however, the Tax Act, enacted in 2017, required substantial changes in the manner of calculating foreign tax credit limitation.

Employee Retirement Plans

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Employee Retirement Plans

Employee Retirement PlansWe have a defined contribution plan in which all U.S. full-time employees are eligible to participate. The participants may contribute from 1% to 70% of their compensation, as defined in the plan. We match 100% of the first 3%, plus 50% of the next 3%, of each participant's base compensation with full vesting immediately. We may also make additional contributions to the

plan as determined by the Board of Directors. The total expense for the defined contribution plan was $1.5 million, $1.5 million and $1.6 million for 2020, 2019 and 2018, respectively.

Certain employees of our Lynchburg manufacturing facility are covered by defined benefit pension plans. The Company’s policy is to contribute at least the minimum amount required under ERISA. The Company may elect to make additional contributions. Benefits are based on years of service and levels of compensation. On December 16, 2014, the decision was made to freeze the benefits under the Company's U.S. qualified defined benefit pension plan with an effective date of March 1, 2015.

Benefit Obligations and Plan Assets

The following table summarizes the changes in the U.S. pension plan obligations and plan assets and includes a statement of the plans' funded status as of March 31, 2020 and 2019:


	March 31,
(In thousands)	2020		2019
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	60,334	$	61,882
Interest cost	2,327		2,380
Actuarial (gain) loss	2,375		(744)
Benefits paid	(3,466)		(3,184)
Projected benefit obligations at end of year	$	61,570	$	60,334

Change in plan assets:
Fair value of plan assets at beginning of period	$	51,115	$	50,508
Actual return on plan assets	3,742		2,416
Employer contribution	1,369		1,375
Benefits paid	(3,466)		(3,184)
Fair value of plan assets at end of year	$	52,760	$	51,115

Funded status at end of year	$	(8,810)	$	(9,219)

Amounts recognized in the balance sheet at the end of the period consist of the following:


	March 31,
(In thousands)	2020		2019
Current liability	$	359	361
Long-term liability	8,451		8,858
Total	$	8,810	$	9,219

The primary components of Net Periodic Benefits consist of the following:


	Year Ended March 31,
(In thousands)	2020		2019		2018
Interest cost	$	2,327	$	2,380	$	2,529
Expected return on assets	(2,886)		(3,070)		(2,901)
Net periodic benefit (income)	$	(559)	$	(690)	$	(372)

The accumulated benefit obligation, which represents benefits earned to the measurement date, was $61.6 million at March 31, 2020, and $60.3 million at March 31, 2019 and we had a net periodic benefit (income) of less than $1.0 million for 2020, 2019 and 2018, respectively.

The pension benefit amounts stated above include one pension plan that is an unfunded plan. The projected benefit obligation and accumulated benefit obligation for this unfunded plan were $4.6 million as of March 31, 2020 and $4.6 million as of March 31, 2019.

The following table includes amounts that are expected to be contributed to the plans by the Company. It reflects benefit payments that are made from the plans' assets as well as those made directly from the Company's assets. The amounts in the table are actuarially determined and reflect the Company's best estimate given its current knowledge; actual amounts could be materially different.


(In thousands)	Pension Benefits
Employer contributions:
2021 (expectation) to participant benefits	$	1,359

Expected benefit payments year ending March 31,
2021	$	3,476
2022	3,592
2023	3,669
2024	3,743
2025	3,718
2026-2030	18,670

During both 2020 and 2019, we contributed $1.0 million to our qualified defined benefit plan. During 2018, we made no contribution to the qualified plan.

The Company's primary investment objective for its qualified pension plan assets is to provide a source of retirement income for the plans' participants and beneficiaries. The asset allocation for the Company's funded retirement plan as of March 31, 2020 and 2019, and the target allocation by asset category are as follows:


	Percentage of Plan Assets
Asset Category	Target Allocation		March 31, 2020		March 31, 2019
Domestic large cap equities	16	%	16	%	18	%
Domestic small/mid cap equities	6		5		5
International equities	14		15		15
Real estate	5		5		—
Fixed income and cash	59		59		62
Total	100	%	100	%	100	%

The plan assets are invested in a diversified portfolio consisting primarily of domestic fixed income and publicly traded equity securities held within group trust funds at March 31, 2020 and 2019. These assets are fair valued using NAV.

The following tables show the unrecognized actuarial loss (gain) included in accumulated other comprehensive income (loss) at March 31, 2020, 2019 and 2018, as well as the prior service cost credit and actuarial loss expected to be reclassified from accumulated other comprehensive income (loss) to retirement expense during 2021:


(In thousands)
Balances in accumulated other comprehensive loss as of March 31, 2018:
Unrecognized actuarial (gain)	$	(1,407)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive (income) as of March 31, 2019:
Unrecognized actuarial (gain)	$	(1,469)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive loss as of March 31, 2020:
Unrecognized actuarial loss	$	73
Unrecognized prior service credit	—

Amounts expected to be reclassified from accumulated other comprehensive income (loss) during 2021:
Unrecognized actuarial gain (loss)	$	—
Unrecognized prior service credit	—

Assumptions used in determining the actuarial present value of the benefit obligation as of March 31, 2020 and 2019 were as follows:


	March 31,
	2020	2019
Key assumptions:
Discount rate	3.37% to 3.55%	3.80% to 3.99%
Expected return on plan assets, net of administrative fees	5.00%	5.75%
Rate of compensation increase	—	—

The determination of the expected long-term rate of return was derived from an optimized portfolio using an asset allocation software program. The risk and return assumptions, along with the correlations between the asset classes, were entered into the program. Based on these assumptions and historical experience, the portfolio is expected to achieve a long-term rate of return of 5.00%. The investment managers engaged to manage the portfolio are expected to outperform their expected benchmarks on a relative basis over a full market cycle.

Commitments and Contingencies

12 Months Ended

Mar. 31, 2020

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 legal matters and other claims incidental to our business, taking our reserves into account, will not have a material adverse effect on our business, financial condition, or results of operations.

Lease Commitments

See Note 8 for a description of our operating and finance leases.

Purchase Commitments

We have supply agreements for the manufacture of some of our products. The following table shows the minimum amounts that we are committed to pay under these agreements:


(In thousands)
Year Ending March 31,	Amount
2021	$	12,163
2022	11,929
2023	4,117
2024	2,364
2025	2,399
Thereafter	6,153
	$	39,125

Concentrations of Risk	12 Months Ended
Concentrations of Risk	Mar. 31, 2020
Risks and Uncertainties [Abstract]
Concentrations of Risk	Concentrations of Risk Our revenues are concentrated in the areas of OTC Healthcare. We sell our products to mass merchandisers and drug, food, dollar, convenience and club stores and e-commerce channels. During 2020, 2019, and 2018, approximately 42.6%, 42.9%, and 41.2%, respectively, of our gross revenues were derived from our five top selling brands. One customer, Walmart, accounted for more than 10% of our gross revenues for each of the periods presented. During 2020, 2019, and 2018, Walmart accounted for approximately 23.1%, 23.7%, and 23.8%, respectively, of our gross revenues. At March 31, 2020, approximately 20.2% of our accounts receivable were owed by Walmart. Our product distribution in the United States is managed by a third party through one primary distribution center in Clayton, Indiana. In addition, we operate one manufacturing facility for certain of our products located in Lynchburg, Virginia. A natural disaster, such as tornado, earthquake, flood, or fire, could damage our inventory and/or materially impair our ability to distribute our products to customers in a timely manner or at a reasonable cost. In addition, a serious disruption caused by performance or contractual issues with our third party distribution manager or COVID-19 or other public health emergencies could also materially impact our product distribution. Any disruption as a result of third party performance at our distribution center could result in increased costs, expense and/or shipping times, and could cause us to incur customer fees and penalties. In addition, any serious disruption to our Lynchburg manufacturing facility could materially impair our ability to manufacture many of the products associated with our acquisition of Fleet, which would also limit our ability to provide those products to customers in a timely manner or at a reasonable cost. We could also incur significantly higher costs and experience longer lead times if we need to replace our distribution center, the third party distribution manager or the manufacturing facility. As a result, any serious disruption could have a material adverse effect on our business, financial condition and results of operations. At March 31, 2020, we had relationships with 113 third party manufacturers. Of those, we had long-term contracts with 14 manufacturers that produced items that accounted for approximately 62.3% of our gross sales for 2020, compared to 33 manufacturers with long-term contracts that accounted for approximately 65.6% of gross sales in 2019. The fact that we do not have long-term contracts with certain manufacturers means that they could cease manufacturing our 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 and results from operations. Although we are in the process of negotiating long-term contracts with certain key manufacturers, we may not be able to reach a timely agreement, which could have a material adverse effect on our business and results of operations.

Business Segments

12 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Business Segments

Segment information has been prepared in accordance with the Segment Reporting topic of FASB ASC 280. Our current reportable segments consist of (i) North American OTC Healthcare and (ii) International OTC Healthcare. We sold our Household Cleaning segment on July 2, 2018; see Note 2 for further information. We evaluate the performance of our operating segments and allocate resources to these segments based primarily on contribution margin, which we define as gross profit less advertising and promotional expenses.

The tables below summarize information about our operating and reportable segments.


	Year Ended March 31, 2020
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Total segment revenues*	$	859,368	$	103,642	$	—	$	963,010
Cost of sales	372,133		38,654		—		410,787
Gross profit	487,235		64,988		—		552,223
Advertising and promotion	127,972		19,222		—		147,194
Contribution margin	$	359,263	$	45,766	$	—	405,029
Other operating expenses							113,874
Operating income							291,155

*Intersegment revenues of $3.5 million were eliminated from the North American OTC Healthcare segment.


	Year Ended March 31, 2019
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Total segment revenues*	$	862,446	$	93,520	$	19,811	$	975,777
Cost of sales	364,533		39,080		16,588		420,201
Gross profit	497,913		54,440		3,223		555,576
Advertising and promotion	126,374		16,286		430		143,090
Contribution margin	$	371,539	$	38,154	$	2,793	412,486
Other operating expenses**							344,983
Operating income							67,503

* Intersegment revenues of $7.4 million were eliminated from the North American OTC Healthcare segment.

**Other operating expenses for the year ended March 31, 2019 includes a tradename impairment charge of $195.9 million and a goodwill impairment charge of $33.5 million.


	Year Ended March 31, 2018
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Total segment revenues*	$	868,874	$	91,658	$	80,647	$	1,041,179
Cost of sales	357,298		40,244		67,132		464,674
Gross profit	511,576		51,414		13,515		576,505
Advertising and promotion	129,058		16,267		1,961		147,286
Contribution margin	$	382,518	$	35,147	$	11,554	429,219
Other operating expenses**							213,745
Operating income							215,474

*Intersegment revenues of $7.7 million were eliminated from the North America OTC Healthcare segment.

**Other operating expenses for the year ended March 31, 2018 includes a tradename impairment charge of $99.9 million.

The tables below summarize information about our segment revenues from similar product groups.


	Year Ended March 31, 2020
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Analgesics	$	113,130	$	877	$	—	$	114,007
Cough & Cold	87,601		23,505		—		111,106
Women's Health	239,330		12,221		—		251,551
Gastrointestinal	130,088		42,820		—		172,908
Eye & Ear Care	100,245		11,911		—		112,156
Dermatologicals	100,591		2,421		—		103,012
Oral Care	83,323		9,882		—		93,205
Other OTC	5,060		5		—		5,065
Household Cleaning	—		—		—		—
Total segment revenues	$	859,368	$	103,642	$	—	$	963,010


	Year Ended March 31, 2019
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Analgesics	$	113,563	$	615	$	—	$	114,178
Cough & Cold	83,168		19,955		—		103,123
Women's Health	244,927		13,552		—		258,479
Gastrointestinal	125,416		35,046		—		160,462
Eye & Ear Care	101,128		11,709		—		112,837
Dermatologicals	95,801		2,171		—		97,972
Oral Care	92,964		10,468		—		103,432
Other OTC	5,479		4		—		5,483
Household Cleaning	—		—		19,811		19,811
Total segment revenues	$	862,446	$	93,520	$	19,811	$	975,777


	Year Ended March 31, 2018
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Analgesics	$	118,610	$	807	$	—	$	119,417
Cough & Cold	93,537		18,310		—		111,847
Women's Health	247,244		12,140		—		259,384
Gastrointestinal	117,627		34,609		—		152,236
Eye & Ear Care	92,308		11,744		—		104,052
Dermatologicals	94,775		2,113		—		96,888
Oral Care	99,072		11,930		—		111,002
Other OTC	5,701		5		—		5,706
Household Cleaning	—		—		80,647		80,647
Total segment revenues	$	868,874	$	91,658	$	80,647	$	1,041,179

Our total segment revenues by geographic area are as follows:


	Year Ended March 31,
	2020		2019		2018
United States	$	812,653	$	837,049	$	903,511
Rest of world	150,357		138,728		137,668
Total	$	963,010	$	975,777	$	1,041,179

Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows:


March 31, 2020 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	546,643	$	28,536	$	575,179

Intangible assets
Indefinite-lived	2,195,617		69,714		2,265,331
Finite-lived	209,604		4,456		214,060
Intangible assets, net	$	2,405,221	74,170		2,479,391
Total	$	2,951,864	$	102,706	$	3,054,570


March 31, 2019 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	547,393	$	31,190	$	578,583

Intangible assets
Indefinite-lived	2,195,617		77,574		2,273,191
Finite-lived	228,743		5,276		234,019
Intangible assets, net	2,424,360		82,850		2,507,210
Total	$	2,971,753	$	114,040	$	3,085,793

Our goodwill and intangible assets by geographic area are as follows:


	Year Ended March 31,
	2020		2019
United States	$	2,951,864	$	2,971,753
Rest of world	102,706		114,040
Total	$	3,054,570	$	3,085,793

Unaudited Quarterly Financial Information

12 Months Ended

Mar. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Information

Unaudited quarterly financial information for 2020 and 2019 is as follows:

Year Ended March 31, 2020


	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2019		September 30, 2019		December 31, 2019		March 31, 2020
Total revenues	$	232,154	$	238,069	$	241,552	$	251,235
Cost of sales	98,087		101,318		104,057		107,325
Gross profit	134,067		136,751		137,495		143,910

Operating expenses
Advertising and promotion	34,801		38,667		33,559		40,167
General and administrative	21,706		22,514		21,308		23,584
Depreciation and amortization	6,074		6,222		6,224		6,242


Total operating expenses	62,581		67,403		61,091		69,993
Operating income	71,486		69,348		76,404		73,917
Interest expense, net of interest income	25,020		24,477		24,275		22,452

Loss on extinguishment of debt	—		—		2,155		—
Other expense (income), net	416		859		(580)		930
Income before income taxes	46,050		44,012		50,554		50,535
Provision for income taxes	12,125		10,760		12,496		13,489
Net income	$	33,925	$	33,252	$	38,058	$	37,046

Earnings per share:
Basic	$	0.66	$	0.66	$	0.76	$	0.74
Diluted	$	0.65	$	0.65	$	0.75	$	0.73

Weighted average shares outstanding:
Basic	51,697		50,455		50,378		50,367
Diluted	52,047		50,811		50,831		50,878

Comprehensive (loss) income, net of tax:
Currency translation adjustments	(224)		(3,584)		3,497		(12,052)
Unrealized loss on interest rate swaps	—		—		—		(4,864)
Unrecognized net gain on pension plans	—		—		—		(1,187)
Total other comprehensive (loss) income	(224)		(3,584)		3,497		(18,103)
Comprehensive income	$	33,701	$	29,668	$	41,555	$	18,943

Year Ended March 31, 2019


	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2018		September 30, 2018		December 31, 2018		March 31, 2019
Total revenues	$	253,980	$	239,357	$	241,414	$	241,026
Cost of sales	113,357		101,885		102,179		102,780
Gross profit	140,623		137,472		139,235		138,246

Operating expenses
Advertising and promotion	37,111		37,042		34,504		34,433
General and administrative	23,941		24,034		20,485		21,299
Depreciation and amortization	7,084		6,756		6,705		6,502
Gain on divestiture	—		(1,284)		—		—
Goodwill and tradename impairment	—		—		—		229,461
Total operating expenses	68,136		66,548		61,694		291,695
Operating income (loss)	72,487		70,924		77,541		(153,449)
Interest expense, net of interest income	25,940		27,070		26,327		25,745


Other expense (income), net	87		335		218		(164)
Income (loss) before income taxes	46,460		43,519		50,996		(179,030)
Provision (benefit) for income taxes	11,994		12,678		12,829		(39,756)
Net income (loss)	$	34,466	$	30,841	$	38,167	$	(139,274)

Earnings (loss) per share:
Basic	$	0.65	$	0.59	$	0.74	$	(2.68)
Diluted	$	0.65	$	0.59	$	0.73	$	(2.68)

Weighted average shares outstanding:
Basic	52,640		51,841		51,881		51,912
Diluted	52,942		52,153		52,202		51,912

Comprehensive (loss) income, net of tax:
Currency translation adjustments	(2,974)		(2,145)		(2,020)		659
Unrecognized net loss on pension plans	—		—		—		48
Total other comprehensive (loss) income	(2,974)		(2,145)		(2,020)		707
Comprehensive income (loss)	$	31,492	$	28,696	$	36,147	$	(138,567)

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Share Based Compensation On May 4, 2020, the Compensation and Talent Management Committee of our Board of Directors granted 79,070 performance units, 73,637 RSUs and stock options to acquire 249,874 shares of our common stock to certain executive officers and employees under the Plan. Performance units are earned based on achievement of the performance objectives set by the Compensation and Talent Management Committee and, if earned, vest in their entirety on the three-year anniversary of the date of grant. In light of the uncertain economic environment, the Committee elected to set the performance objectives applicable to the awards at a later date. RSUs vest either 33.3% per year over three years or in their entirety on the three-year anniversary of the date of grant. Upon vesting, both performance units and RSUs 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 $39.98 per share, which is equal to the closing price for our common stock on the date of the grant. Except in cases of death, disability or retirement, termination of employment prior to vesting will result in forfeiture of the unvested performance units, RSUs and the stock options. Vested stock options will remain exercisable by the employee after termination, subject to the terms of the Plan. Also on May 4, 2020, Dawn M. Zier was elected to our Board of Directors and the Compensation and Talent Management Committee of our Board of Directors granted her 907 RSUs. The RSUs vest one year after the date of grant so long as membership on the Board of Directors continues through the vesting date, with settlement in common stock to occur on the earliest of Ms. Zier’s death, disability or the date on which her board membership ceases for reasons other than death or disability.

Schedule II Valuation and Qualifying Accounts

12 Months Ended

Mar. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II 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, 2020
Reserves for sales returns and allowance	$	8,973		$	57,505		$	(50,669)	$	—		$	15,809
Reserves for trade promotions	15,491			88,502			(85,604)		—			18,389
Reserves for consumer coupon redemptions	1,175			4,555			(3,667)		—			2,063
Allowance for doubtful accounts	1,259			750			(624)		—			1,385
Deferred tax valuation allowance	3,236			2,205		^(a)	—		—			5,441

Year Ended March 31, 2019
Reserves for sales returns and allowance	8,813			56,276			(56,116)		—			8,973
Reserves for trade promotions	13,062		^(b)	90,844			(88,415)		—			15,491
Reserves for consumer coupon redemptions	2,645			5,199			(6,669)		—			1,175
Allowance for doubtful accounts	1,203			203			(147)		—			1,259
Deferred tax valuation allowance	609			2,627		^(c)	—		—			3,236

Year Ended March 31, 2018
Reserves for sales returns and allowance	9,429			62,953			(63,569)		—			8,813
Reserves for trade promotions	15,193			78,669			(82,427)		—			11,435
Reserves for consumer coupon redemptions	4,614			7,283			(9,252)		—			2,645
Allowance for doubtful accounts	1,352			187			(336)		—			1,203
Deferred tax valuation allowance	3,437			—			—		(2,828)		^(d)	609

(a) Relates to the unutilized foreign tax credit carryovers.

(b) Reflects opening balance sheet adjustment related to the adoption of new revenue recognition standard.

(d) Reclassified into a FIN 48 liability.

Business and Basis of Presentation (Policies)

12 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Cash and Cash EquivalentsWe consider all short-term deposits and investments with original maturities of three months or less to be cash equivalents. At March 31, 2020, approximately 14% of our cash is held by a bank in Sydney, Australia. Substantially all of our remaining 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. The Federal Deposit Insurance Corporation (“FDIC”) and Securities Investor Protection Corporation (“SIPC”) insures our U.S. domestic balances, up to $250,000 and $500,000, with a $250,000 limit for cash, respectively.

Accounts Receivable

Accounts ReceivableWe 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.

Inventories

Property, Plant and Equipment

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


			Years
Building			15 - 40
Machinery			3 - 15
Computer equipment and software			3 - 5
Furniture and fixtures			7 - 10
Leasehold improvements			*

*Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the related assets.

Goodwill

Intangible Assets

Debt Origination Costs

Debt Origination CostsWe have incurred debt origination costs in connection with the issuance of long-term debt. These costs are amortized over the term of the related debt, using the effective interest method for our bonds and our term loan facility and the straight-line method for our revolving credit facility. Costs associated with our revolving credit facility are reported as a long-term asset and costs related to our senior notes and the term loan facility are recorded as a reduction of debt.

Revenue Recognition

Nature of Goods and Services

See Note 21 for disaggregated revenue information.

Satisfaction of Performance Obligations

Variable Consideration

Provisions for certain rebates, customer promotional programs, product returns, and discounts to customers are accounted for as variable consideration and recorded as a reduction in sales.

Practical Expedients

We expense incremental direct costs of obtaining a contract (broker commissions) when the related sale takes place.

We account for shipping and handling costs as fulfillment activities and therefore recognize them upon shipment of goods.

Cost of Sales

Cost of SalesCost of sales includes costs related to the manufacturing of our products, including raw materials, direct labor and indirect plant costs (including but not limited to depreciation), warehousing costs, inbound and outbound shipping costs, and handling and storage costs.

Advertising and Promotion Costs

Advertising and Promotion CostsAdvertising and promotion costs are expensed as incurred. Allowances for distribution costs associated with products, including slotting fees, are recognized as a reduction of sales.

Stock-based Compensation

Pension Expense

Income Taxes

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 Income (Loss) and Comprehensive Income (Loss).

Earnings (Loss) Per Share

Leases

Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2019 are as follows:


(In thousands)	March 31, 2019		New Lease Standard Adjustment		April 1, 2019
Assets:
Operating lease ROU assets	$	—	$	17,435	$	17,435

Liabilities:
Operating lease liabilities, current portion	$	—	$	(5,697)	$	(5,697)
Long-term operating lease liabilities, net of current portion	$	—	$	(13,296)	$	(13,296)
Other accrued liabilities ⁽¹⁾	$	(60,663)	$	1,558	$	(59,105)

(1) Relates to deferred rent and exit costs associated with existing leases.

Adoption of this accounting pronouncement had no impact on our other financial statements.

See above for our lease accounting policy.

Recently Issued Accounting Pronouncements

Business and Basis of Presentation (Tables)

12 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property, Plant and Equipment

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


			Years
Building			15 - 40
Machinery			3 - 15
Computer equipment and software			3 - 5
Furniture and fixtures			7 - 10
Leasehold improvements			*

*Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the related assets.

Property, plant and equipment, net consist of the following:


	March 31,
(In thousands)	2020		2019
Components of Property, Plant and Equipment
Land	$	550	$	550
Building	16,508		13,960
Machinery	42,299		38,761
Computer equipment	22,396		20,716
Furniture and fixtures	3,242		3,200
Leasehold improvements	8,964		9,090
Construction in progress	7,769		3,711
	101,728		89,988
Accumulated depreciation	(45,740)		(38,812)
Property, plant and equipment, net	$	55,988	$	51,176

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:


	Year Ended March 31,
(In thousands, except per share data)	2020		2019		2018
Numerator
Net income (loss)	$	142,281	$	(35,800)	$	339,570



Denominator
Denominator for basic earnings (loss) per share - weighted average shares outstanding	50,723		52,068		53,099
Dilutive effect of unvested restricted stock units and options issued to employees and directors	417		—		427
Denominator for diluted earnings (loss) per share	51,140		52,068		53,526

Earnings (loss) per Common Share:
Basic net earnings (loss) per share	$	2.81	$	(0.69)	$	6.40



Diluted net earnings (loss) per share	$	2.78	$	(0.69)	$	6.34

Impact of New Accounting Pronouncements

The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2019 are as follows:


(In thousands)	March 31, 2019		New Lease Standard Adjustment		April 1, 2019
Assets:
Operating lease ROU assets	$	—	$	17,435	$	17,435

Liabilities:
Operating lease liabilities, current portion	$	—	$	(5,697)	$	(5,697)
Long-term operating lease liabilities, net of current portion	$	—	$	(13,296)	$	(13,296)
Other accrued liabilities ⁽¹⁾	$	(60,663)	$	1,558	$	(59,105)

(1) Relates to deferred rent and exit costs associated with existing leases.

Divestiture (Tables)

12 Months Ended

Mar. 31, 2020

Text Block [Abstract]

Components of assets sold and pre-tax gain

The following table sets forth the components of the assets sold and the pre-tax gain recognized on the sale in July 2018:


(In thousands)	July 2, 2018
Components of assets sold:
Inventory	$	6,644
Property, plant and equipment, net	653
Goodwill	6,245
Intangible assets, net	49,315
Assets sold	62,857
Total purchase price received	65,912
	(3,055)
Costs to sell	1,771
Pre-tax gain on divestiture	$	(1,284)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Accounts Receivable (Tables)

12 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Accounts Receivable

Accounts receivable consist of the following:


	March 31,
(In thousands)	2020		2019
Components of Accounts Receivable
Trade accounts receivable	$	170,151	$	161,047
Other receivables	560		705
	170,711		161,752
Less allowances for discounts, returns and uncollectible accounts	(20,194)		(12,965)
Accounts receivable, net	$	150,517	$	148,787

Inventories (Tables)

12 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:


	March 31,
(In thousands)	2020		2019
Components of Inventories
Packaging and raw materials	$	9,803	$	17,082
Work in process	355		161
Finished goods	105,868		102,637
Inventories	$	116,026	$	119,880

Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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


			Years
Building			15 - 40
Machinery			3 - 15
Computer equipment and software			3 - 5
Furniture and fixtures			7 - 10
Leasehold improvements			*

*Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the related assets.

Property, plant and equipment, net consist of the following:


	March 31,
(In thousands)	2020		2019
Components of Property, Plant and Equipment
Land	$	550	$	550
Building	16,508		13,960
Machinery	42,299		38,761
Computer equipment	22,396		20,716
Furniture and fixtures	3,242		3,200
Leasehold improvements	8,964		9,090
Construction in progress	7,769		3,711
	101,728		89,988
Accumulated depreciation	(45,740)		(38,812)
Property, plant and equipment, net	$	55,988	$	51,176

Goodwill (Tables)

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill

The following table summarizes the changes in the carrying value of goodwill by operating segment for each of 2018, 2019, and 2020:


(In thousands)	North American OTC Healthcare			International OTC Healthcare			Household Cleaning			Consolidated
Balance – March 31, 2018
Goodwill	$	711,104		$	32,919		$	71,405		$	815,428
Accumulated impairment losses	(130,170)			—			(65,160)			(195,330)
Balance - March 31, 2018	580,934			32,919			6,245			620,098


2019 Reductions:
Goodwill ^(a)	—			—			(71,405)			(71,405)
Accumulated impairment loss^(a)	—			—			65,160			65,160
Effects of foreign currency exchange rates	—			(1,729)			—			(1,729)
Impairment loss	(33,541)			—			—			(33,541)

Balance – March 31, 2019
Goodwill	711,104			31,190			—			742,294
Accumulated impairment losses	(163,711)		—	—		—	—		—	(163,711)
Balance - March 31, 2019	$	547,393		$	31,190		$	—		$	578,583


2020 Reductions:				—			—			—
Goodwill ^(b)	(750)			—			—			(750)

Effects of foreign currency exchange rates	—			(2,654)			—			(2,654)


Balance – March 31, 2020
Goodwill	710,354			28,536			—			738,890
Accumulated impairment losses	(163,711)			—			—			(163,711)
Balance - March 31, 2020	$	546,643		$	28,536		$	—		$	575,179

(a) As discussed in Note 2, on July 2, 2018, we sold our Household Cleaning segment. As a result, we decreased goodwill by $6.2 million, net of accumulated impairment charges.

(b) Amount relates to cash received from escrow associated with our acquisition of Fleet.

Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2020

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Reconciliation of the Activity Affecting Intangible Assets

A reconciliation of the activity affecting intangible assets, net for each of 2020 and 2019 is as follows:


	Year Ended March 31, 2020
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2019	$	2,273,191	$	390,283	$	2,663,474
Additions ^(a)	2,760		—		2,760



Effects of foreign currency exchange rates	(10,620)		(482)		(11,102)
Balance – March 31, 2020	$	2,265,331	$	389,801	$	2,655,132

Accumulated Amortization
Balance – March 31, 2019	$	—	$	156,264	$	156,264
Additions	—		19,633		19,633

Effects of foreign currency exchange rates	—		(156)		(156)
Balance – March 31, 2020	$	—	$	175,741	$	175,741

Intangible assets, net – March 31, 2020	$	2,265,331	$	214,060	$	2,479,391

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,195,617	$	209,604	$	2,405,221
International OTC Healthcare	69,714		4,456		74,170

Intangible assets, net – March 31, 2020	$	2,265,331	$	214,060	$	2,479,391

(a) Amount relates to the acquisition of additional rights to an existing tradename.


	Year Ended March 31, 2019
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2018	$	2,490,303	$	441,314	$	2,931,617

Reclassifications	(25,152)		25,152		—
Reductions	(30,562)		(34,889)		(65,451)
Tradename impairment	(154,967)		(40,953)		(195,920)
Effects of foreign currency exchange rates	(6,431)		(341)		(6,772)
Balance – March 31, 2019	$	2,273,191	$	390,283	$	2,663,474

Accumulated Amortization
Balance – March 31, 2018	$	—	$	150,701	$	150,701
Additions	—		21,767		21,767
Reductions	—		(16,136)		(16,136)
Effects of foreign currency exchange rates	—		(68)		(68)
Balance – March 31, 2019	$	—	$	156,264	$	156,264

Intangible assets, net – March 31, 2019	$	2,273,191	$	234,019	$	2,507,210

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,195,617	$	228,743	$	2,424,360
International OTC Healthcare	77,574		5,276		82,850

Intangible assets, net – March 31, 2019	$	2,273,191	$	234,019	$	2,507,210

Schedule of Expected Amortization Expense

At March 31, 2020, finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 10 to 30 years, and the estimated amortization expense for each of the five succeeding years and periods thereafter is as follows (in thousands):


(In thousands)
Year Ending March 31,	Amount
2021	19,606
2022	19,605
2023	19,605
2024	19,578
2025	17,535
Thereafter	118,131
	$	214,060

Leases (Tables)

12 Months Ended

Mar. 31, 2020

Leases [Abstract]

Components of Lease Expense

The components of lease expense for the year ended March 31, 2020 were as follows:


(In thousands)
Finance lease cost:
Amortization of right-of-use assets	$	522
Interest on lease liabilities	84
Operating lease cost	7,914
Short term lease cost	104
Variable lease cost	64,230
Sublease income	(3,441)
Total net lease cost	$	69,413

The weighted average remaining lease term and weighted average discount rate were as follows:


		March 31, 2020
Weighted average remaining lease term (years)
	Operating leases	5.40
	Financing leases	4.50
Weighted average discount rate
	Operating leases	5.28	%
	Financing leases	3.55	%

Maturities of Operating Leases

As of March 31, 2020, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2021	$	7,019	$	1,404	$	8,423
2022	6,497		1,404		7,901
2023	6,305		1,404		7,709
2024	6,294		1,404		7,698
2025	4,123		700		4,823
Thereafter	4,973		—		4,973
Total undiscounted lease payments	35,211		6,316		41,527
Less amount of lease payments representing interest	(4,722)		(470)		(5,192)
Total present value of lease payments	$	30,489	$	5,846	$	36,335

Maturities of Finance Leases

As of March 31, 2020, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2021	$	7,019	$	1,404	$	8,423
2022	6,497		1,404		7,901
2023	6,305		1,404		7,709
2024	6,294		1,404		7,698
2025	4,123		700		4,823
Thereafter	4,973		—		4,973
Total undiscounted lease payments	35,211		6,316		41,527
Less amount of lease payments representing interest	(4,722)		(470)		(5,192)
Total present value of lease payments	$	30,489	$	5,846	$	36,335

Future Minimum Rental Payments for Operating Leases Under Prior Guidance

The following table summarizes future minimum lease payments for our operating leases as of March 31, 2019, before adoption of Topic 842:


(In thousands)	Facilities		Equipment		Total
Year Ending March 31,
2020	$	2,828	$	314	$	3,142
2021	2,633		248		2,881
2022	2,265		213		2,478
2023	1,684		105		1,789
2024	1,705		—		1,705
Thereafter	6,780		—		6,780
	$	17,895	$	880	$	18,775

Other Accrued Liabilities (Tables)

12 Months Ended

Mar. 31, 2020

Payables and Accruals [Abstract]

Other Accrued Liabilities

Other accrued liabilities consist of the following:


	March 31,
(In thousands)	2020		2019
Accrued marketing costs	$	34,450	$	31,228
Accrued compensation costs	13,393		10,958
Accrued broker commissions	1,491		1,361
Income taxes payable	3,210		88
Accrued professional fees	4,183		2,441


Accrued production costs	5,628		6,788


Accrued sales tax	1,917		4
Other accrued liabilities	6,491		7,795
	$	70,763	$	60,663

Long-Term Debt (Tables)

12 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

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


(In thousands, except percentages)	March 31, 2020		March 31, 2019
2016 Senior Notes bearing interest at 6.375%, with interest payable on March 1 and September 1 of each year. The 2016 Senior Notes mature on March 1, 2024.	$	600,000	$	600,000
2013 Senior Notes bearing interest at 5.375%, with interest payable on June 15 and December 15 of each year. The 2013 Senior Notes mature on December 15, 2021, and were redeemed on December 16, 2019.	—		400,000

2019 Senior Notes bearing interest at 5.125%, with interest payable on January 15 and July 15 of each year. The 2019 Senior Notes mature on January 15, 2028.	400,000		—
2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.00%, or an alternate base rate plus a margin of 1.00% with a floor of 1.00% due on January 26, 2024.	690,000		738,000
2012 ABL Revolver bearing interest at the Borrower's option at either a base rate plus applicable margin or LIBOR plus applicable margin. Any unpaid balance is due on December 11, 2024.	55,000		75,000



Long-term debt	1,745,000		1,813,000
Less: unamortized debt costs	(14,700)		(14,402)
Long-term debt, net	$	1,730,300	$	1,798,598

Schedule of Future Principal Payments


(In thousands)
Year Ending March 31,	Amount
2021	$	—
2022	—
2023	—
2024	1,290,000
2025	55,000
Thereafter			400,000
			$	1,745,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments


	March 31, 2020						March 31, 2019
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
2016 Senior Notes	$	600,000	$	603,000	$	600,000	$	606,000
2013 Senior Notes	—		—		400,000		401,500

2019 Senior Notes	400,000		386,000		—		—
2012 Term B-5 Loans	690,000		638,250		738,000		728,775
2012 ABL Revolver	55,000		55,000		75,000		75,000
Interest rate swaps	6,317		6,317		—		—

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Liabilities at Fair Value

The following table summarizes the fair values of our derivative instruments as of the March 31, 2020:


(In thousands)	Hedge Type	Final Settlement Date	Notional Amount		Other Accrued Liabilities		Other Long-Term Liabilities
Interest rate swap	Cash flow	1/31/2021	$	200,000	$	(1,905)	$	—
Interest rate swap	Cash flow	1/31/2022	$	200,000	—		(4,412)
Total fair value					$	(1,905)	$	(4,412)

Derivative Instruments, Gain (Loss)

The following table summarizes our interest rate swaps, net of tax, for the periods shown:


(In thousands)	Location		2020		2019
Loss Recognized in Other Comprehensive Loss (effective portion)		Other comprehensive income (loss)		(4,864)		$	—
Gain (Loss) Reclassified from Accumulative Other Comprehensive Loss into Income		Interest expense		—		—
Gain Recognized as Income		Interest expense		62		—

Statement of Shareholders' Equity (Tables)

12 Months Ended

Mar. 31, 2020

Statement of Stockholders' Equity [Abstract]

Schedule of Share Repurchases

Our share repurchases consisted of the following:


	Year Ended March 31,
	2020	2019
Shares repurchased pursuant to the provisions of the various employee restricted stock awards:
Number of shares	31,018	68,939
Average price per share	$31.39	$33.09
Total amount repurchased	$1.0 million	$2.3 million

Shares repurchased in conjunction with our share repurchase program:
Number of shares	1,816,901	1,449,750
Average price per share	$31.22	$34.47
Total amount repurchased	$56.7 million	$50.0 million

Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of Restricted Shares

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


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

Vested and unvested at March 31, 2017	350.1	$	39.29

Granted	105.8	55.61
Vested and issued	(53.3)	34.30
Forfeited	(9.1)	48.76
Vested and unvested at March 31, 2018	393.5	44.13
Vested at March 31, 2018	90.5	29.88

Granted	226.4	30.09
Vested and issued	(175.8)	43.05
Forfeited	(31.1)	48.32
Vested and unvested at March 31, 2019	413.0	36.58
Vested at March 31, 2019	113.2	31.05

Granted	220.3	31.02
Vested and issued	(87.0)	46.78
Forfeited	(34.2)	35.97
Vested and unvested at March 31, 2020	512.1	32.49
Vested at March 31, 2020	124.2	30.54

Stock Options, Valuation Assumptions


	Year Ended March 31,
	2020			2019			2018
Expected volatility	30.9-31.3		%	29.6		%	35.2		%
Expected dividends	—			—			—
Expected term in years	6.0 to 7.0			6.0			6.0
Risk-free rate	2.3% to 2.4%			2.9		%	2.2		%
Weighted-average grant date fair value of options granted	$	10.83		$	10.22		$	21.20

Stock Option Activity

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, 2017	772.3	$	37.70

Granted	182.8	56.11
Exercised	(55.7)	29.08
Forfeited or expired	(26.2)	48.19
Outstanding at March 31, 2018	873.2	41.79

Granted	294.5	29.46
Exercised	(97.7)	30.02
Forfeited or expired	(125.4)	47.16
Outstanding at March 31, 2019	944.6	38.45

Granted	302.7	30.53
Exercised	(47.9)	27.60
Forfeited or expired	(179.2)	42.49
Outstanding at March 31, 2020	1,020.2	35.90		6.7	$	6,214
Exercisable at March 31, 2020	566.2	38.66		5.2	$	3,514

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Mar. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Loss

AOCI consisted of the following at March 31, 2020 and 2019:


	March 31,		March 31,
(In thousands)	2020		2019
Components of Accumulated Other Comprehensive Loss
Cumulative translation adjustment	$	(39,241)	$	(26,878)
Unrealized loss on interest rate swaps, net of tax of $1,453	(4,864)		—
Unrecognized net (loss) gain on pension plans, net of tax of $(17) and $338, respectively	(56)		1,131
Accumulated other comprehensive loss, net of tax	$	(44,161)	$	(25,747)

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income from Continuing Operations Before Income Taxes, Domestic and Foreign

Income (loss) before income taxes consists of the following:


	Year Ended March 31,
(In thousands)	2020		2019		2018
United States	$	167,508	$	(52,313)	$	84,435
Foreign	23,643		14,258		22,651

	$	191,151	$	(38,055)	$	107,086

Components of Provision for Income Taxes

The provision (benefit) for income taxes consists of the following:


	Year Ended March 31,
(In thousands)	2020		2019		2018
Current
Federal	$	24,051	$	27,629	$	31,327
State	2,506		3,156		2,686
Foreign	8,473		7,193		5,588
Deferred
Federal	14,119		(35,760)		(270,796)
State	(341)		(4,101)		(1,240)
Foreign	62		(372)		(49)
Total provision (benefit) for income taxes	$	48,870	$	(2,255)	$	(232,484)

Components of Deferred Tax Balances

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


	March 31,
(In thousands)	2020		2019
Deferred Tax Assets
Allowance for doubtful accounts and sales returns	$	4,996	$	3,285
Inventory capitalization	1,168		1,245
Inventory reserves	705		1,267
Net operating loss carryforwards	115		226
State income taxes	8,896		9,003
Accrued liabilities	1,308		1,785
Accrued compensation	4,472		4,416
Stock compensation	4,334		4,206
Foreign tax credit	5,441		3,236
Interest	—		154
Lease liability	8,228		—
Unrealized foreign exchange loss	257		—
Other	13,191		7,691
Total deferred tax assets	$	53,111	$	36,514

Deferred Tax Liabilities
Property, plant and equipment	$	(7,590)	$	(6,002)
Intangible assets	(438,601)		(425,134)
Deferred cumulative catch-up adjustments - revenue recognition adjustments	(522)		(721)
Right-of-use asset	(7,876)		—
Total deferred tax liabilities	$	(454,589)	$	(431,857)

Net deferred tax liability before valuation allowance	$	(401,478)	$	(395,343)
Valuation allowance	(5,441)		(3,236)
Net deferred tax liability	$	(406,919)	$	(398,579)

Reconciliation of Effective Tax Rate

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


	Year Ended March 31,
	2020					2019				2018
(In thousands)			%			%			%
Income tax provision (benefit) at statutory rate	$	40,142	21.0	$	(7,992)	21.0	$	37,480	35.0
Foreign tax provision (benefit)	2,498		1.3	2,866		(7.5)	(2,084)		(1.9)
State income taxes, net of federal income tax benefit	1,606		0.8	(1,710)		4.5	1,414		1.3
Impact of tax legislation	—		—	—		—	(268,244)		(250.5)

Goodwill impairment	—		—	5,616		(14.8)	—		—
R&D	(320)		(0.2)	(629)		1.7	—		—
Compensation limitations	562		0.3	296		(0.8)	—		—
Valuation allowance	2,205		1.2	2,627		(6.9)	(2,828)		(2.6)
Gain on sale	—		—	1,312		(3.4)	—		—


Other	2,177		1.2	(4,641)		12.1	1,778		1.6
Total provision (benefit) for income taxes	$	48,870	25.6	$	(2,255)	5.9	$	(232,484)	(217.1)

Uncertain Tax Liability Activity

Uncertain tax liability activity is as follows:


	2020		2019		2018
(In thousands)
Balance – beginning of year	$	9,874	$	10,827	$	3,651
Additions based on tax positions related to the current year	495		585		7,286
Reductions based on lapse of statute of limitations	—		(650)		(110)
Payments and other movements	—		(888)		—
Balance – end of year	$	10,369	$	9,874	$	10,827

Employee Retirement Plans (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Benefit Obligation and Plan Assets

The following table summarizes the changes in the U.S. pension plan obligations and plan assets and includes a statement of the plans' funded status as of March 31, 2020 and 2019:


	March 31,
(In thousands)	2020		2019
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	60,334	$	61,882
Interest cost	2,327		2,380
Actuarial (gain) loss	2,375		(744)
Benefits paid	(3,466)		(3,184)
Projected benefit obligations at end of year	$	61,570	$	60,334

Change in plan assets:
Fair value of plan assets at beginning of period	$	51,115	$	50,508
Actual return on plan assets	3,742		2,416
Employer contribution	1,369		1,375
Benefits paid	(3,466)		(3,184)
Fair value of plan assets at end of year	$	52,760	$	51,115

Funded status at end of year	$	(8,810)	$	(9,219)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the balance sheet at the end of the period consist of the following:


	March 31,
(In thousands)	2020		2019
Current liability	$	359	361
Long-term liability	8,451		8,858
Total	$	8,810	$	9,219

Schedule of Primary Components of Net Periodic Benefits

The primary components of Net Periodic Benefits consist of the following:


	Year Ended March 31,
(In thousands)	2020		2019		2018
Interest cost	$	2,327	$	2,380	$	2,529
Expected return on assets	(2,886)		(3,070)		(2,901)
Net periodic benefit (income)	$	(559)	$	(690)	$	(372)

Schedule of Expected to be Contributed


(In thousands)	Pension Benefits
Employer contributions:
2021 (expectation) to participant benefits	$	1,359

Expected benefit payments year ending March 31,
2021	$	3,476
2022	3,592
2023	3,669
2024	3,743
2025	3,718
2026-2030	18,670

Schedule of Allocation of Plan Assets

The asset allocation for the Company's funded retirement plan as of March 31, 2020 and 2019, and the target allocation by asset category are as follows:


	Percentage of Plan Assets
Asset Category	Target Allocation		March 31, 2020		March 31, 2019
Domestic large cap equities	16	%	16	%	18	%
Domestic small/mid cap equities	6		5		5
International equities	14		15		15
Real estate	5		5		—
Fixed income and cash	59		59		62
Total	100	%	100	%	100	%

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss)


(In thousands)
Balances in accumulated other comprehensive loss as of March 31, 2018:
Unrecognized actuarial (gain)	$	(1,407)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive (income) as of March 31, 2019:
Unrecognized actuarial (gain)	$	(1,469)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive loss as of March 31, 2020:
Unrecognized actuarial loss	$	73
Unrecognized prior service credit	—

Amounts expected to be reclassified from accumulated other comprehensive income (loss) during 2021:
Unrecognized actuarial gain (loss)	$	—
Unrecognized prior service credit	—

Schedule of Assumptions Used

Assumptions used in determining the actuarial present value of the benefit obligation as of March 31, 2020 and 2019 were as follows:


	March 31,
	2020	2019
Key assumptions:
Discount rate	3.37% to 3.55%	3.80% to 3.99%
Expected return on plan assets, net of administrative fees	5.00%	5.75%
Rate of compensation increase	—	—

Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Unrecorded Unconditional Purchase Obligations

The following table shows the minimum amounts that we are committed to pay under these agreements:


(In thousands)
Year Ending March 31,	Amount
2021	$	12,163
2022	11,929
2023	4,117
2024	2,364
2025	2,399
Thereafter	6,153
	$	39,125

Business Segments (Tables)

12 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Information about our Operating and Reportable Segments

The tables below summarize information about our operating and reportable segments.


	Year Ended March 31, 2020
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Total segment revenues*	$	859,368	$	103,642	$	—	$	963,010
Cost of sales	372,133		38,654		—		410,787
Gross profit	487,235		64,988		—		552,223
Advertising and promotion	127,972		19,222		—		147,194
Contribution margin	$	359,263	$	45,766	$	—	405,029
Other operating expenses							113,874
Operating income							291,155

*Intersegment revenues of $3.5 million were eliminated from the North American OTC Healthcare segment.


	Year Ended March 31, 2019
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Total segment revenues*	$	862,446	$	93,520	$	19,811	$	975,777
Cost of sales	364,533		39,080		16,588		420,201
Gross profit	497,913		54,440		3,223		555,576
Advertising and promotion	126,374		16,286		430		143,090
Contribution margin	$	371,539	$	38,154	$	2,793	412,486
Other operating expenses**							344,983
Operating income							67,503

* Intersegment revenues of $7.4 million were eliminated from the North American OTC Healthcare segment.

**Other operating expenses for the year ended March 31, 2019 includes a tradename impairment charge of $195.9 million and a goodwill impairment charge of $33.5 million.


	Year Ended March 31, 2018
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Total segment revenues*	$	868,874	$	91,658	$	80,647	$	1,041,179
Cost of sales	357,298		40,244		67,132		464,674
Gross profit	511,576		51,414		13,515		576,505
Advertising and promotion	129,058		16,267		1,961		147,286
Contribution margin	$	382,518	$	35,147	$	11,554	429,219
Other operating expenses**							213,745
Operating income							215,474

*Intersegment revenues of $7.7 million were eliminated from the North America OTC Healthcare segment.

**Other operating expenses for the year ended March 31, 2018 includes a tradename impairment charge of $99.9 million.

Information about our Revenues from Similar Product Groups

The tables below summarize information about our segment revenues from similar product groups.


	Year Ended March 31, 2020
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Analgesics	$	113,130	$	877	$	—	$	114,007
Cough & Cold	87,601		23,505		—		111,106
Women's Health	239,330		12,221		—		251,551
Gastrointestinal	130,088		42,820		—		172,908
Eye & Ear Care	100,245		11,911		—		112,156
Dermatologicals	100,591		2,421		—		103,012
Oral Care	83,323		9,882		—		93,205
Other OTC	5,060		5		—		5,065
Household Cleaning	—		—		—		—
Total segment revenues	$	859,368	$	103,642	$	—	$	963,010


	Year Ended March 31, 2019
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Analgesics	$	113,563	$	615	$	—	$	114,178
Cough & Cold	83,168		19,955		—		103,123
Women's Health	244,927		13,552		—		258,479
Gastrointestinal	125,416		35,046		—		160,462
Eye & Ear Care	101,128		11,709		—		112,837
Dermatologicals	95,801		2,171		—		97,972
Oral Care	92,964		10,468		—		103,432
Other OTC	5,479		4		—		5,483
Household Cleaning	—		—		19,811		19,811
Total segment revenues	$	862,446	$	93,520	$	19,811	$	975,777


	Year Ended March 31, 2018
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Household Cleaning		Consolidated
Analgesics	$	118,610	$	807	$	—	$	119,417
Cough & Cold	93,537		18,310		—		111,847
Women's Health	247,244		12,140		—		259,384
Gastrointestinal	117,627		34,609		—		152,236
Eye & Ear Care	92,308		11,744		—		104,052
Dermatologicals	94,775		2,113		—		96,888
Oral Care	99,072		11,930		—		111,002
Other OTC	5,701		5		—		5,706
Household Cleaning	—		—		80,647		80,647
Total segment revenues	$	868,874	$	91,658	$	80,647	$	1,041,179

Segment Revenue by Geographic Area

Our total segment revenues by geographic area are as follows:


	Year Ended March 31,
	2020		2019		2018
United States	$	812,653	$	837,049	$	903,511
Rest of world	150,357		138,728		137,668
Total	$	963,010	$	975,777	$	1,041,179

Allocation of Long-Term Assets to Segments

Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows:


March 31, 2020 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	546,643	$	28,536	$	575,179

Intangible assets
Indefinite-lived	2,195,617		69,714		2,265,331
Finite-lived	209,604		4,456		214,060
Intangible assets, net	$	2,405,221	74,170		2,479,391
Total	$	2,951,864	$	102,706	$	3,054,570


March 31, 2019 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	547,393	$	31,190	$	578,583

Intangible assets
Indefinite-lived	2,195,617		77,574		2,273,191
Finite-lived	228,743		5,276		234,019
Intangible assets, net	2,424,360		82,850		2,507,210
Total	$	2,971,753	$	114,040	$	3,085,793

Goodwill and Intangible Assets by Geographic Areas

Our goodwill and intangible assets by geographic area are as follows:


	Year Ended March 31,
	2020		2019
United States	$	2,951,864	$	2,971,753
Rest of world	102,706		114,040
Total	$	3,054,570	$	3,085,793

Unaudited Quarterly Financial Information (Tables)

12 Months Ended

Mar. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Unaudited quarterly financial information for 2020 and 2019 is as follows:

Year Ended March 31, 2020


	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2019		September 30, 2019		December 31, 2019		March 31, 2020
Total revenues	$	232,154	$	238,069	$	241,552	$	251,235
Cost of sales	98,087		101,318		104,057		107,325
Gross profit	134,067		136,751		137,495		143,910

Operating expenses
Advertising and promotion	34,801		38,667		33,559		40,167
General and administrative	21,706		22,514		21,308		23,584
Depreciation and amortization	6,074		6,222		6,224		6,242


Total operating expenses	62,581		67,403		61,091		69,993
Operating income	71,486		69,348		76,404		73,917
Interest expense, net of interest income	25,020		24,477		24,275		22,452

Loss on extinguishment of debt	—		—		2,155		—
Other expense (income), net	416		859		(580)		930
Income before income taxes	46,050		44,012		50,554		50,535
Provision for income taxes	12,125		10,760		12,496		13,489
Net income	$	33,925	$	33,252	$	38,058	$	37,046

Earnings per share:
Basic	$	0.66	$	0.66	$	0.76	$	0.74
Diluted	$	0.65	$	0.65	$	0.75	$	0.73

Weighted average shares outstanding:
Basic	51,697		50,455		50,378		50,367
Diluted	52,047		50,811		50,831		50,878

Comprehensive (loss) income, net of tax:
Currency translation adjustments	(224)		(3,584)		3,497		(12,052)
Unrealized loss on interest rate swaps	—		—		—		(4,864)
Unrecognized net gain on pension plans	—		—		—		(1,187)
Total other comprehensive (loss) income	(224)		(3,584)		3,497		(18,103)
Comprehensive income	$	33,701	$	29,668	$	41,555	$	18,943

Year Ended March 31, 2019


	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2018		September 30, 2018		December 31, 2018		March 31, 2019
Total revenues	$	253,980	$	239,357	$	241,414	$	241,026
Cost of sales	113,357		101,885		102,179		102,780
Gross profit	140,623		137,472		139,235		138,246

Operating expenses
Advertising and promotion	37,111		37,042		34,504		34,433
General and administrative	23,941		24,034		20,485		21,299
Depreciation and amortization	7,084		6,756		6,705		6,502
Gain on divestiture	—		(1,284)		—		—
Goodwill and tradename impairment	—		—		—		229,461
Total operating expenses	68,136		66,548		61,694		291,695
Operating income (loss)	72,487		70,924		77,541		(153,449)
Interest expense, net of interest income	25,940		27,070		26,327		25,745


Other expense (income), net	87		335		218		(164)
Income (loss) before income taxes	46,460		43,519		50,996		(179,030)
Provision (benefit) for income taxes	11,994		12,678		12,829		(39,756)
Net income (loss)	$	34,466	$	30,841	$	38,167	$	(139,274)

Earnings (loss) per share:
Basic	$	0.65	$	0.59	$	0.74	$	(2.68)
Diluted	$	0.65	$	0.59	$	0.73	$	(2.68)

Weighted average shares outstanding:
Basic	52,640		51,841		51,881		51,912
Diluted	52,942		52,153		52,202		51,912

Comprehensive (loss) income, net of tax:
Currency translation adjustments	(2,974)		(2,145)		(2,020)		659
Unrecognized net loss on pension plans	—		—		—		48
Total other comprehensive (loss) income	(2,974)		(2,145)		(2,020)		707
Comprehensive income (loss)	$	31,492	$	28,696	$	36,147	$	(138,567)

Business and Basis of Presentation (Cash and Cash Equivalents) (Details)	Mar. 31, 2020
Sydney, Australia
Cash and Cash Equivalents [Line Items]
Percentage of deposits held in one location (as percent)	14.00%

Business and Basis of Presentation (Property, Plant and Equipment) (Details)	12 Months Ended
	Mar. 31, 2020
Building \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	15 years
Building \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	40 years
Machinery \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	3 years
Machinery \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	15 years
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	3 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	7 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	10 years

Business and Basis of Presentation (Intangible Assets) (Details)	12 Months Ended
	Mar. 31, 2020
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	10 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	30 years

Business and Basis of Presentation (Revenue Recognition) (Details)	12 Months Ended
	Mar. 31, 2020 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Business and Basis of Presentation (Cost of Sales) (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Warehousing, shipping and handling and storage costs
Revenue from External Customer [Line Items]
Warehousing, shipping and handling, and storage costs	$ 61.9	$ 56.4	$ 64.7

Business and Basis of Presentation (Income Taxes) (Details) $ in Millions	12 Months Ended
	Mar. 31, 2018 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net gain related to deferred tax liability	$ 267.0
Net gain related to the lower blended tax rate	3.2
Net gain	270.2
Repatriation charge	$ 1.9

Business and Basis of Presentation (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Numerator
Net income	$ 37,046	$ 38,058	$ 33,252	$ 33,925	$ (139,274)	$ 38,167	$ 30,841	$ 34,466	$ 142,281	$ (35,800)	$ 339,570
Denominator
Denominator for basic (loss) earnings per share - weighted average shares (in shares)	50,367	50,378	50,455	51,697	51,912	51,881	51,841	52,640	50,723	52,068	53,099
Dilutive effect of unvested restricted common stock and options issued to employees and directors (in shares)									417	0	427
Denominator for diluted (loss) earnings per share (in shares)	50,878	50,831	50,811	52,047	51,912	52,202	52,153	52,942	51,140	52,068	53,526
Earnings (loss) per Common Share:
Basic net (loss) earnings per share (in USD per share)	$ 0.74	$ 0.76	$ 0.66	$ 0.66	$ (2.68)	$ 0.74	$ 0.59	$ 0.65	$ 2.81	$ (0.69)	$ 6.40
Diluted net (loss) earnings per share (in USD per share)	$ 0.73	$ 0.75	$ 0.65	$ 0.65	$ (2.68)	$ 0.73	$ 0.59	$ 0.65	$ 2.78	$ (0.69)	$ 6.34
Antidilutive securities excluded from computation of earnings per share (in shares)									300	1,400	400

Business and Basis of Presentation (Leases) (Details)	Mar. 31, 2020
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	10 years
Renewal term	6 years

Business and Basis of Presentation (New Lease Accounting Standard) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Apr. 01, 2019	Mar. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 28,888	$ 17,435	$ 0
Operating lease liabilities, current portion	5,612	5,697	0
Long-term operating lease liabilities, net of current portion	24,877	13,296	0
Other accrued liabilities	$ 70,763	59,105	$ 60,663
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		17,435
Operating lease liabilities, current portion		5,697
Long-term operating lease liabilities, net of current portion		13,296
Other accrued liabilities		$ (1,558)

Divestiture (Details) - Disposal group, disposed of by sale, not discontinued operations - Household Cleaning $ in Thousands	Jul. 02, 2018 USD ($)
Business Acquisition [Line Items]
Total purchase price received	$ 65,912
Pre-tax gain on divestiture	$ (1,284)

Divestiture (Components of Assets Sold) (Details) - Disposal group, disposed of by sale, not discontinued operations - Household Cleaning $ in Thousands	Jul. 02, 2018 USD ($)
Business Acquisition [Line Items]
Inventory	$ 6,644
Property, plant and equipment, net	653
Goodwill	6,245
Intangible assets, net	49,315
Assets sold	62,857
Total purchase price received	65,912
Gain on disposal	(3,055)
Costs to sell	1,771
Pre-tax gain on divestiture	$ 1,284

Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 170,711	$ 161,752
Less allowances for discounts, returns and uncollectible accounts	(20,194)	(12,965)
Accounts receivable, net	150,517	148,787
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	170,151	161,047
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 560	$ 705

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Inventory Disclosure [Abstract]
Packaging and raw materials	$ 9,803	$ 17,082
Work in process	355	161
Finished goods	105,868	102,637
Inventories	116,026	119,880
Inventory valuation reserves related to obsolete and slow-moving inventory	$ 6,500	$ 5,500

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Components of Property, Plant and Equipment
Property, plant and equipment, gross	$ 101,728	$ 89,988
Accumulated depreciation	(45,740)	(38,812)
Property, plant and equipment, net	55,988	51,176
Depreciation expense	8,800	10,000	$ 10,100
Land
Components of Property, Plant and Equipment
Property, plant and equipment, gross	550	550
Building
Components of Property, Plant and Equipment
Property, plant and equipment, gross	16,508	13,960
Machinery
Components of Property, Plant and Equipment
Property, plant and equipment, gross	42,299	38,761
Computer equipment
Components of Property, Plant and Equipment
Property, plant and equipment, gross	22,396	20,716
Furniture and fixtures
Components of Property, Plant and Equipment
Property, plant and equipment, gross	3,242	3,200
Leasehold improvements
Components of Property, Plant and Equipment
Property, plant and equipment, gross	8,964	9,090
Construction in progress
Components of Property, Plant and Equipment
Property, plant and equipment, gross	$ 7,769	$ 3,711

Goodwill (Schedule of Changes) (Details) - USD ($) $ in Thousands			12 Months Ended
	Feb. 28, 2019	Jul. 02, 2018	Mar. 31, 2020	Mar. 31, 2019
Goodwill [Roll Forward]
Goodwill, gross, beginning			$ 742,294	$ 815,428
Accumulated impairment loss, beginning			(163,711)	(195,330)
Goodwill, net, beginning			578,583	620,098
Goodwill, written off related to sale of business unit				(71,405)
Goodwill impairment, written off related to sale of business unit				65,160
Effects of foreign currency exchange rates			(2,654)	(1,729)
Accumulated impairment loss	$ (33,500)			(33,541)
Reduction of goodwill for cash received from escrow			(750)
Goodwill, gross, ending			738,890	742,294
Accumulated impairment loss, ending			(163,711)	(163,711)
Goodwill, net, ending			575,179	578,583
North American OTC Healthcare
Goodwill [Roll Forward]
Goodwill, gross, beginning			711,104	711,104
Accumulated impairment loss, beginning			(163,711)	(130,170)
Goodwill, net, beginning			547,393	580,934
Goodwill, written off related to sale of business unit				0
Goodwill impairment, written off related to sale of business unit				0
Effects of foreign currency exchange rates			0	0
Accumulated impairment loss				(33,541)
Reduction of goodwill for cash received from escrow			(750)
Goodwill, gross, ending			710,354	711,104
Accumulated impairment loss, ending			(163,711)	(163,711)
Goodwill, net, ending			546,643	547,393
International OTC Healthcare
Goodwill [Roll Forward]
Goodwill, gross, beginning			31,190	32,919
Accumulated impairment loss, beginning			0	0
Goodwill, net, beginning			31,190	32,919
Goodwill, written off related to sale of business unit				0
Goodwill impairment, written off related to sale of business unit				0
Effects of foreign currency exchange rates			(2,654)	(1,729)
Accumulated impairment loss				0
Reduction of goodwill for cash received from escrow			0
Goodwill, gross, ending			28,536	31,190
Accumulated impairment loss, ending			0	0
Goodwill, net, ending			28,536	31,190
Household Cleaning
Goodwill [Roll Forward]
Goodwill, gross, beginning			0	71,405
Accumulated impairment loss, beginning			0	(65,160)
Goodwill, net, beginning			0	6,245
Goodwill, written off related to sale of business unit		$ (6,200)		(71,405)
Goodwill impairment, written off related to sale of business unit				65,160
Effects of foreign currency exchange rates			0	0
Accumulated impairment loss				0
Reduction of goodwill for cash received from escrow			0
Goodwill, gross, ending			0	0
Accumulated impairment loss, ending			0	0
Goodwill, net, ending			$ 0	$ 0

Goodwill (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
Goodwill (Narrative) (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impairment loss	$ 33,500	$ 33,541

Intangible Assets (Reconciliation of Activity) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning	$ 2,273,191,000
Indefinite-lived intangibles, tradename impairment	0
Indefinite-lived intangibles, ending		$ 2,273,191,000
Accumulated Amortization
Finite-lived intangibles, accumulated amortization, beginning	156,264,000	150,701,000
Finite-lived intangibles, accumulated amortization, additions	19,633,000	21,767,000
Finite-lived intangible assets, accumulated amortization, reductions		(16,136,000)
Finite-lived intangibles, accumulated amortization, effects of foreign currency exchange rates	(156,000)	(68,000)
Finite-lived intangibles, accumulated amortization, ending	175,741,000	156,264,000
Gross Carrying Amounts
Intangible assets, gross, beginning	2,663,474,000	2,931,617,000
Additions (a)	2,760,000
Reclassifications		0
Reductions		(65,451,000)
Tradename impairment		195,920,000
Effects of foreign currency exchange rates	(11,102,000)	(6,772,000)
Intangible assets, gross, ending	2,655,132,000	2,663,474,000
Indefinite-lived intangible assets	2,273,191,000	2,273,191,000		$ 2,273,191,000
Finite-lived intangible assets			$ 214,060,000	234,019,000
Intangible assets, net (excluding goodwill)			2,479,391,000	2,507,210,000
North American OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning	2,195,617,000
Indefinite-lived intangibles, ending		2,195,617,000
Gross Carrying Amounts
Indefinite-lived intangible assets	2,195,617,000	2,195,617,000		2,195,617,000
Finite-lived intangible assets				228,743,000
Intangible assets, net (excluding goodwill)			2,405,221,000	2,424,360,000
International OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning	77,574,000
Indefinite-lived intangibles, ending		77,574,000
Gross Carrying Amounts
Indefinite-lived intangible assets	77,574,000	77,574,000		77,574,000
Finite-lived intangible assets				5,276,000
Intangible assets, net (excluding goodwill)			74,170,000	82,850,000
Finite-Lived Tradenames and Customer Relationships
Indefinite- Lived Tradenames
Indefinite-lived intangibles, reductions		(155,000,000.0)
Gross Carrying Amounts
Finite-lived intangibles, gross, beginning	390,283,000	441,314,000
Finite-lived intangibles, additions	0
Finite-lived intangibles, reclassifications		25,152,000
Finite-lived intangibles, reductions		(34,889,000)
Finite-lived intangibles, tradename impairment		(40,953,000)
Finite-lived intangibles, effects of foreign currency exchange rates	(482,000)	(341,000)
Finite-lived intangibles, gross, ending	389,801,000	390,283,000
Accumulated Amortization
Finite-lived intangibles, accumulated amortization, beginning	156,264,000	150,701,000
Finite-lived intangibles, accumulated amortization, additions	19,633,000	21,767,000
Finite-lived intangible assets, accumulated amortization, reductions		(16,136,000)
Finite-lived intangibles, accumulated amortization, effects of foreign currency exchange rates	(156,000)	(68,000)
Finite-lived intangibles, accumulated amortization, ending	175,741,000	156,264,000
Gross Carrying Amounts
Finite-lived intangible assets			214,060,000
Finite-Lived Tradenames and Customer Relationships \| North American OTC Healthcare
Gross Carrying Amounts
Finite-lived intangible assets			209,604,000
Finite-Lived Tradenames and Customer Relationships \| International OTC Healthcare
Gross Carrying Amounts
Finite-lived intangible assets			4,456,000
Indefinite- Lived Tradenames
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning	2,273,191,000	2,490,303,000
Indefinite lived intangibles, additions	2,760,000
Indefinite lived intangibles, reclassifications		(25,152,000)
Indefinite-lived intangibles, reductions		(30,562,000)
Indefinite-lived intangibles, tradename impairment		(154,967,000)
Indefinite-lived intangibles, effects of foreign currency exchange rates	(10,620,000)	(6,431,000)
Indefinite-lived intangibles, ending	2,265,331,000	2,273,191,000
Gross Carrying Amounts
Indefinite-lived intangible assets	2,265,331,000	$ 2,490,303,000	2,265,331,000	$ 2,273,191,000
Indefinite- Lived Tradenames \| North American OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, ending	2,195,617,000
Gross Carrying Amounts
Indefinite-lived intangible assets	2,195,617,000		2,195,617,000
Indefinite- Lived Tradenames \| International OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, ending	69,714,000
Gross Carrying Amounts
Indefinite-lived intangible assets	$ 69,714,000		$ 69,714,000

Intangible Assets (Narrative) (Details)		12 Months Ended
Intangible Assets (Narrative) (Details)	Jul. 02, 2018 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($) asset
Schedule of Intangible Assets [Line Items]
Impairment of indefinite-lived assets		$ 0
Number of assets impaired \| asset			3
Finite-lived intangible assets, weighted average remaining period		10 years 10 months 24 days
Amortization of intangible assets		$ 19,633,000	$ 21,767,000
Minimum
Schedule of Intangible Assets [Line Items]
Intangible assets, useful lives		10 years
Maximum
Schedule of Intangible Assets [Line Items]
Intangible assets, useful lives		30 years
Finite-Lived Tradenames and Customer Relationships
Schedule of Intangible Assets [Line Items]
Indefinite-lived intangibles, reductions			(155,000,000.0)
Intangible assets, tradename impairment			40,953,000
Amortization of intangible assets		$ 19,633,000	21,767,000
Indefinite- Lived Tradenames
Schedule of Intangible Assets [Line Items]
Indefinite-lived intangibles, reductions			(30,562,000)
Impairment of indefinite-lived assets			$ 154,967,000
Disposal group, disposed of by sale, not discontinued operations \| Household Cleaning \| Household Cleaning \| Finite-Lived Tradenames and Customer Relationships
Schedule of Intangible Assets [Line Items]
Finite-lived intangible assets written off	$ (18,800,000)
Disposal group, disposed of by sale, not discontinued operations \| Household Cleaning \| Household Cleaning \| Indefinite- Lived Tradenames
Schedule of Intangible Assets [Line Items]
Indefinite-lived intangibles, reductions	$ (30,500,000)
Measurement Input, Cap Rate
Schedule of Intangible Assets [Line Items]
Indefinite-lived intangible asset, increase (decrease) in measurement input		0.50%
Measurement Input, Long-term Revenue Growth Rate
Schedule of Intangible Assets [Line Items]
Indefinite-lived intangible asset, increase (decrease) in measurement input		(0.50%)

Intangible Assets (Expected Amortization Expense) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2021	$ 19,606
2022	19,605
2023	19,605
2024	19,578
2025	17,535
Thereafter	118,131
Intangible assets, net	$ 214,060	$ 234,019

Leases (Lease Cost) (Details) $ in Thousands	12 Months Ended
Leases (Lease Cost) (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Leases [Abstract]
Amortization of right-of-use assets	$ 522
Interest on lease liabilities	84
Operating lease cost	7,914
Short term lease cost	104
Variable lease cost	64,230
Sublease income	(3,441)
Total net lease cost	$ 69,413

Leases (Lease Maturities) (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Operating Leases
2021	$ 7,019
2022	6,497
2023	6,305
2024	6,294
2025	4,123
Thereafter	4,973
Total undiscounted lease payments	35,211
Less amount of lease payments representing interest	(4,722)
Total present value of lease payments	30,489
Financing Leases
2021	1,404
2022	1,404
2023	1,404
2024	1,404
2025	700
Thereafter	0
Total undiscounted lease payments	6,316
Less amount of lease payments representing interest	(470)
Total present value of lease payments	5,846
Total
2021	8,423
2022	7,901
2023	7,709
2024	7,698
2025	4,823
Thereafter	4,973
Total undiscounted lease payments	41,527
Less amount of lease payments representing interest	(5,192)
Total present value of lease payments	$ 36,335

Leases (Additional Information) (Details)	Mar. 31, 2020
Leases [Abstract]
Weighted average remaining lease term (years), operating leases	5 years 4 months 24 days
Weighted average remaining lease term (years), financing leases	4 years 6 months
Weighted average discount rate, operating leases	5.28%
Weighted average discount rate, financing leases	3.55%

Leases (Lease Maturities Under Prior Guidance) (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Operating Leased Assets [Line Items]
2020	$ 3,142
2021	2,881
2022	2,478
2023	1,789
2024	1,705
Thereafter	6,780
Operating Leases, Future Minimum Payments Due	18,775
Facilities
Operating Leased Assets [Line Items]
2020	2,828
2021	2,633
2022	2,265
2023	1,684
2024	1,705
Thereafter	6,780
Operating Leases, Future Minimum Payments Due	17,895
Equipment
Operating Leased Assets [Line Items]
2020	314
2021	248
2022	213
2023	105
2024	0
Thereafter	0
Operating Leases, Future Minimum Payments Due	$ 880

Leases (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Sep. 30, 2019	Jul. 31, 2019	May 31, 2019	Apr. 01, 2019	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 28,888				$ 17,435	$ 0
Operating lease liability	$ 30,489
GEODIS Logistics LLC
Lessee, Lease, Description [Line Items]
Renewal term				5 years
Term of contract			5 years	5 years
Operating lease right-of-use assets		$ 18,900
Operating lease liability		$ 18,900

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Apr. 01, 2019	Mar. 31, 2019
Payables and Accruals [Abstract]
Accrued marketing costs	$ 34,450		$ 31,228
Accrued compensation costs	13,393		10,958
Accrued broker commissions	1,491		1,361
Income taxes payable	3,210		88
Accrued professional fees	4,183		2,441
Accrued production costs	5,628		6,788
Accrued sales tax	1,917		4
Other accrued liabilities	6,491		7,795
Total other accrued liabilities	$ 70,763	$ 59,105	$ 60,663

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 11, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 21, 2018	Feb. 19, 2016	Dec. 17, 2013
Debt Instrument [Line Items]
Long-term debt		$ 1,745,000	$ 1,813,000
Less unamortized debt costs		(14,700)	(14,402)
Long-term debt, net		1,730,300	1,798,598
2016 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt		600,000	600,000
Less unamortized debt costs		$ (5,800)	(4,300)
Debt instrument, stated interest rate (as percent)		6.375%		6.375%	6.375%
2013 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 0	400,000
Less unamortized debt costs		$ (3,500)	(2,800)
Debt instrument, stated interest rate (as percent)		5.375%				5.375%
2019 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 400,000	0
Debt instrument, stated interest rate (as percent)		5.125%
2012 Senior Notes \| Term Loans
Debt Instrument [Line Items]
Long-term debt		$ 690,000	738,000
2012 Senior Notes \| Term Loans \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)		2.00%
Debt instrument, variable rate, minimum		0.00%
2012 Senior Notes \| Term Loans \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)		1.00%
Debt instrument, variable rate, minimum		1.00%
2012 ABL Revolver \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	1.00%
2012 ABL Revolver \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	0.00%
2012 ABL Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt		$ 55,000	75,000
Less unamortized debt costs		(1,100)	$ (800)
Repayments of long-term debt		55,000
Revolving credit facility, remaining borrowing capacity		$ 107,300

Long-Term Debt (Narrative 2012 Term Loan and 2012 ABL Revolver) (Details) - USD ($)								12 Months Ended
	Dec. 11, 2019	Mar. 21, 2018	Feb. 04, 2016	Jun. 09, 2015	Sep. 03, 2014	Feb. 21, 2013	Jan. 31, 2012	Mar. 31, 2020	Jan. 26, 2017	May 08, 2015
2012 ABL Revolver
Debt Instrument [Line Items]
Debt instrument, term	5 years
Line of credit facility, commitment fee (as percent)	0.25%
2012 ABL Revolver \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	1.00%
2012 ABL Revolver \| LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, if increased	1.25%
2012 ABL Revolver \| LIBOR \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, if increased	1.50%
2012 ABL Revolver \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	0.00%
2012 ABL Revolver \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, if increased	0.25%
2012 ABL Revolver \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, if increased	0.50%
2012 ABL Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term							5 years
Line of credit facility, maximum borrowing capacity							$ 50,000,000.0	$ 135,000,000.0
Revolving credit facility, increase in borrowing capacity								$ 85,000,000.0
Debt instrument, interest rate, decrease (as percent)								0.25%
Line of credit facility, commitment fee (as percent)							0.50%
Line of credit facility, conditional commitment fee (as percent)								0.375%
Revolver increase in accordion feature				$ 35,000,000.0
Debt instrument, average interest rate (as percent)								4.00%
2012 ABL Revolver \| Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, fixed component (as percent)					1.00%
2012 ABL Revolver \| Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, conditional variable rate (as percent)					2.00%
2012 ABL Revolver \| Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Debt instrument, conditional variable rate (as percent)					2.25%
2012 ABL Revolver \| Revolving Credit Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, conditional variable rate (as percent)					1.00%
2012 ABL Revolver \| Revolving Credit Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, conditional variable rate (as percent)					1.25%
2012 ABL Revolver \| Revolving Credit Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, fixed component (as percent)					0.50%
2012 ABL Revolver, Amendment No. 3 \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, increase in borrowing capacity					$ 40,000,000.0
ABL Revolver Amendment 4 \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term				5 years
ABL Amendment No. 5 \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, temporary suspension of financial reporting covenant, period			60 days
2012 ABL Revolver, Amendment No. 6 \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, increase in borrowing capacity									$ 40,000,000.0
Term Loans \| 2012 Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount							$ 660,000,000.0
Debt instrument, term							7 years
Debt instrument, discount (as percent)							1.50%
Proceeds from issuance of long-term debt							$ 650,100,000
Term Loans \| 2012 Term Loan, Amendment No. 1 \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)						2.75%
Debt instrument, reference rate floor (as percent)						1.00%
Term Loans \| 2012 Term Loan, Amendment No. 1 \| Base Rate
Debt Instrument [Line Items]
Debt instrument, reference rate floor (as percent)						2.00%
Term Loans \| 2012 Term Loan, Amendment No. 2
Debt Instrument [Line Items]
Debt instrument, reference rate floor (as percent)					1.00%
Term Loans \| 2012 Term Loan, Amendment No. 2 \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)					3.125%
Term Loans \| 2012 Term Loan, Amendment No. 2 \| Base Rate
Debt Instrument [Line Items]
Debt instrument, reference rate floor (as percent)					2.00%
Term Loans \| 2012 Senior Notes \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)								2.00%
Term Loans \| 2012 Senior Notes \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)								1.00%
Term Loans \| Term B-5 Loans \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)		2.00%
Debt instrument, reference rate floor (as percent)		0.00%
Term Loans \| Term B-5 Loans \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)		1.00%
Debt instrument, reference rate floor (as percent)		1.00%
2012 Term B-3 Loan \| 2012 Term Loan, Amendment No. 3
Debt Instrument [Line Items]
Debt instrument, face amount										$ 852,500,000
2012 Term B-1 Loan \| 2012 Term Loan, Amendment No. 3
Debt Instrument [Line Items]
Debt instrument, face amount										207,500,000
2012 Term B-2 Loan \| 2012 Term Loan, Amendment No. 2
Debt Instrument [Line Items]
Debt instrument, face amount					$ 720,000,000.0
2012 Term B-2 Loan \| 2012 Term Loan, Amendment No. 2 \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)					3.50%
Debt instrument, reference rate floor (as percent)					1.00%
2012 Term B-2 Loan \| 2012 Term Loan, Amendment No. 2 \| Base Rate
Debt Instrument [Line Items]
Debt instrument, reference rate floor (as percent)					2.00%
Interest rate, contingent margin step-down per annum (as percent)					3.25%
2012 Term B-2 Loan \| 2012 Term Loan, Amendment No. 3
Debt Instrument [Line Items]
Debt instrument, face amount										$ 645,000,000.0
2012 Term B-4 Loans \| 2012 Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount									$ 1,427,000,000.0
Debt instrument, average interest rate (as percent)								4.60%

Long-Term Debt (Narrative 2013 Senior Notes) (Details) - Senior Notes - 2013 Senior Notes - USD ($)	Mar. 31, 2020	Dec. 17, 2013
Debt Instrument [Line Items]
Debt instrument, face amount		$ 400,000,000.0
Debt instrument, stated interest rate (as percent)	5.375%	5.375%

Long-Term Debt (Narrative 2016 Senior Notes) (Details) - Senior Notes - 2016 Senior Notes - USD ($)	Mar. 21, 2018	Mar. 31, 2020	Feb. 19, 2016
Debt Instrument [Line Items]
Debt instrument, face amount	$ 250,000,000.0		$ 350,000,000.0
Debt instrument, stated interest rate (as percent)	6.375%	6.375%	6.375%
Issuance price (as percent)	101.00%

Long-Term Debt (Narrative 2019 Senior Notes) (Details) - USD ($)		3 Months Ended				12 Months Ended
	Dec. 02, 2019	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Dec. 17, 2013
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0	$ 2,155,000	$ 0	$ 0	$ 2,155,000	$ 0	$ 2,901,000
2019 Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000,000.0
Debt instrument, stated interest rate (as percent)	5.125%
2013 Senior Notes
Debt Instrument [Line Items]
Early repayment of senior debt	$ 400,000,000.0
Loss on extinguishment of debt						$ 2,200,000
2013 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount									$ 400,000,000.0
Debt instrument, stated interest rate (as percent)		5.375%				5.375%			5.375%

Long-Term Debt (Narrative Redemptions and Restrictions) (Details)	Feb. 19, 2016
Senior Notes \| Indirect guarantee of indebtedness \| 2016 Senior Notes
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount (as percent)	101.00%

Long-Term Debt (Narrative Interest Rate Swaps) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 31, 2020	Mar. 31, 2019
Debt Instrument [Line Items]
Unamortized debt costs	$ 14,700		$ 14,402
Interest Rate Swap \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative, notional amount		$ 400,000
2016 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Unamortized debt costs	5,800		4,300
2013 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Unamortized debt costs	3,500		2,800
2012 Term Loan \| Term Loans
Debt Instrument [Line Items]
Unamortized debt costs	5,400		7,300
Revolving Credit Facility \| 2012 ABL Revolver
Debt Instrument [Line Items]
Unamortized debt costs	$ 1,100		$ 800

Long-Term Debt (Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Debt Disclosure [Abstract]
2021	$ 0
2022	0
2023	0
2024	1,290,000
2025	55,000
Thereafter	400,000
Long-term debt, gross	$ 1,745,000	$ 1,813,000

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Carrying value \| Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	$ 6,317	$ 0
Carrying value \| Senior Notes \| 2016 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	600,000	600,000
Carrying value \| Senior Notes \| 2013 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	0	400,000
Carrying value \| Senior Notes \| 2019 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	400,000	0
Carrying value \| Term Loans \| 2012 Term B-5 Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	690,000	738,000
Carrying value \| Revolving Credit Facility \| 2012 ABL Revolver
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	55,000	75,000
Fair value \| Fair Value, Inputs, Level 2 \| Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	6,317	0
Fair value \| Fair Value, Inputs, Level 2 \| Senior Notes \| 2016 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	603,000	606,000
Fair value \| Fair Value, Inputs, Level 2 \| Senior Notes \| 2013 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	0	401,500
Fair value \| Fair Value, Inputs, Level 2 \| Senior Notes \| 2019 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	386,000	0
Fair value \| Fair Value, Inputs, Level 2 \| Term Loans \| 2012 Term B-5 Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	638,250	728,775
Fair value \| Fair Value, Inputs, Level 2 \| Revolving Credit Facility \| 2012 ABL Revolver
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	$ 55,000	$ 75,000

Derivative Instruments (Narrative) (Details) - Interest Rate Swap - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Jan. 31, 2020
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 1,900
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount		$ 400,000

Derivative Instruments (Fair Value) (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 31, 2020
Interest Rate Swap Settlement Date January 2021 \| Cash Flow Hedging
Derivative [Line Items]
Derivative, notional amount	$ 200,000
Interest Rate Swap Settlement Date January 2021 \| Other Accrued Liabilities \| Cash Flow Hedging
Derivative [Line Items]
Derivative liability	(1,905)
Interest Rate Swap Settlement Date January 2021 \| Other Long-Term Liabilities \| Cash Flow Hedging
Derivative [Line Items]
Derivative liability	0
Interest Rate Swap Settlement Date January 2022 \| Cash Flow Hedging
Derivative [Line Items]
Derivative, notional amount	200,000
Interest Rate Swap Settlement Date January 2022 \| Other Accrued Liabilities \| Cash Flow Hedging
Derivative [Line Items]
Derivative liability	0
Interest Rate Swap Settlement Date January 2022 \| Other Long-Term Liabilities \| Cash Flow Hedging
Derivative [Line Items]
Derivative liability	(4,412)
Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount		$ 400,000
Interest Rate Swap \| Other Accrued Liabilities \| Cash Flow Hedging
Derivative [Line Items]
Derivative liability	(1,905)
Interest Rate Swap \| Other Long-Term Liabilities \| Cash Flow Hedging
Derivative [Line Items]
Derivative liability	$ (4,412)

Derivative Instruments (Schedule of Derivative Gains and Losses) (Details) - Interest Rate Swap - Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative [Line Items]
Loss Recognized in Other Comprehensive Loss (effective portion)	$ (4,864)	$ 0
Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulative Other Comprehensive Loss into Income	0	0
Gain Recognized as Income	$ 62	$ 0

Stockholders' Equity (Details)	12 Months Ended
Stockholders' Equity (Details)	Mar. 31, 2020 USD ($) vote $ / shares shares	Mar. 31, 2019 $ / shares shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares	250,000,000	250,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares) \| shares	5,000,000	5,000,000
Preferred stock, par value (in USD per share) \| $ / shares	$ 0.01	$ 0.01
Voting rights, number of votes per common share owned \| vote	1
Dividends declared on common stock \| $	$ 0

Stockholders' Equity (Schedule of Shares Repurchased) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Class of Stock [Line Items]
Treasury share repurchases	$ 57,695	$ 52,259	$ 1,075
Share Repurchase Program
Class of Stock [Line Items]
Restricted stock repurchased during period (in shares)	1,816,901	1,449,750
Restricted stock acquired, average cost per share (in USD per share)	$ 31.22	$ 34.47
Treasury share repurchases	$ 56,700	$ 50,000
Restricted Shares
Class of Stock [Line Items]
Restricted stock repurchased during period (in shares)	31,018	68,939
Restricted stock acquired, average cost per share (in USD per share)	$ 31.39	$ 33.09
Treasury share repurchases	$ 1,000	$ 2,300

Share-Based Compensation (Narrative) (Details) $ / shares in Units, $ in Thousands					1 Months Ended	12 Months Ended
	Jul. 30, 2019 shares	May 13, 2019 $ / shares shares	May 06, 2019 $ / shares shares	May 31, 2014 shares	Jun. 30, 2014 shares	Mar. 31, 2020 USD ($) shares	Mar. 31, 2019 USD ($) shares	Mar. 31, 2018 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase to plan term					10 years
Stock-based compensation costs \| $						$ 7,644	$ 7,438	$ 8,909
Tax benefit recognized from share-based compensation expense \| $						1,200	1,400	1,800
Share-based compensation expense, not yet recognized \| $						$ 6,000
Share-based compensation expense, not yet recognized, period for recognition						1 year
Total fair value of shares vested \| $						$ 7,800	12,000	6,800
Proceeds from exercise of stock options \| $						1,324	2,931	1,620
Income tax benefit realized from exercise of stock awards \| $						$ 700	$ 1,300	$ 1,100
Number of shares available for issuance under plan (in shares)						1,500,000
Options granted (in shares)						302,700	294,500	182,800
Options exercised, intrinsic value \| $						$ 400	$ 800	$ 1,200
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock units granted in period (in shares)			98,644
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock units granted in period (in shares)	4,183	7,287	89,286			220,300	226,400	105,800
Restricted Stock Units (RSUs) \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, conversion ratio for securities into which each RSU may be converted						1
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		21,194	281,487
Award grant exercise price (in dollars per share) \| $ / shares		$ 30.19	$ 30.56
Award exercisability period, from date of grant (not greater than)						10 years
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						5 years
2005 Long-term Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)						5,000,000.0
Number of additional shares authorized under plan (in shares)					1,800,000
Maximum number of shares awarded, per employee, annual (in shares)				1,000,000.0	2,500,000

Share-Based Compensation (Restricted Shares Activity) (Details) - Restricted Stock Units (RSUs) - $ / shares				12 Months Ended
	Jul. 30, 2019	May 13, 2019	May 06, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Shares
Outstanding, beginning of period (in shares)				413,000.0	393,500	350,100
Granted (in shares)	4,183	7,287	89,286	220,300	226,400	105,800
Vested and issued (in shares)				(87,000.0)	(175,800)	(53,300)
Forfeited (in shares)				(34,200)	(31,100)	(9,100)
Outstanding, end of period (in shares)				512,100	413,000.0	393,500
Vested, end of period (in shares)				124,200	113,200	90,500
Weighted-Average Grant-Date Fair Value
Outstanding, beginning of period, weighted-average grant-date fair value (in USD per share)				$ 36.58	$ 44.13	$ 39.29
Granted, weighted-average grant-date fair value (in USD per share)				31.02	30.09	55.61
Vested and issued, weighted-average grant-date fair value (in USD per share)				46.78	43.05	34.30
Forfeited, weighted-average grant-date fair value (in USD per share)				35.97	48.32	48.76
Outstanding, end of period, weighted-average grant-date fair value (in USD per share)				32.49	36.58	44.13
Vested, end of period, weighted-average grant-date fair value (in USD per share)				$ 30.54	$ 31.05	$ 29.88

Share-Based Compensation (Stock Option Valuation Assumptions) (Details) - Stock Options - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		29.60%	35.20%
Expected dividends	$ 0	$ 0	$ 0
Expected term in years		6 years	6 years
Risk-free rate		2.90%	2.20%
Weighted-average grant date fair value of options granted (in USD per share)	$ 10.83	$ 10.22	$ 21.20
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30900.00%
Expected term in years	6 years
Risk-free rate	2300.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	31300.00%
Expected term in years	7 years
Risk-free rate	2400.00%

Share-Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Shares
Outstanding, beginning of period (in shares)	944,600	873,200	772,300
Granted (in shares)	302,700	294,500	182,800
Exercised (in shares)	(47,900)	(97,700)	(55,700)
Forfeited or expired (in shares)	(179,200)	(125,400)	(26,200)
Outstanding, end of period (in shares)	1,020,200	944,600	873,200
Exercisable, end of period (in shares)	566,200
Weighted-Average Exercise Price
Outstanding, beginning of period, weighted-average exercise price (in USD per share)	$ 38.45	$ 41.79	$ 37.70
Options, grant date fair value (in USD per share)	30.53	29.46	56.11
Exercised, weighted-average exercise price (in USD per share)	27.60	30.02	29.08
Forfeited or expired, weighted-average exercise price (in USD per share)	42.49	47.16	48.19
Outstanding, end of period, weighted-average exercise price (in USD per share)	35.90	$ 38.45	$ 41.79
Exercisable, end of period, weighted-average exercise price (in USD per share)	$ 38.66
Options
Outstanding, end of period, weighted-average remaining contractual term	6 years 8 months 12 days
Exercisable, end of period, weighted-average remaining contractual term	5 years 2 months 12 days
Outstanding, end of period, aggregate intrinsic value	$ 6,214
Exercisable, end of period, aggregate intrinsic value	$ 3,514

Accumulated Other Comprehensive Loss (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Components of Accumulated Other Comprehensive Loss	$ 1,170,971,000	$ 1,095,831,000	$ 1,178,610,000	$ 822,549,000
Reclassification from AOCI	0	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	(17,000)	338,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	1,453,000	0
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Components of Accumulated Other Comprehensive Loss	(44,161,000)	(25,747,000)	$ (19,315,000)	$ (26,352,000)
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Components of Accumulated Other Comprehensive Loss	(39,241,000)	(26,878,000)
Unrealized loss on interest rate swaps, net of tax of $1,453
Accumulated Other Comprehensive Income (Loss) [Line Items]
Components of Accumulated Other Comprehensive Loss	(4,864,000)	0
Unrecognized net (loss) gain on pension plans, net of tax of $(17) and $338, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Components of Accumulated Other Comprehensive Loss	$ (56,000)	$ 1,131,000

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2018	Mar. 31, 2019
Income Tax Contingency [Line Items]
Net gain related to deferred tax liability		$ 267,000
Net gain related to the lower blended tax rate		3,200
Net gain		270,200
Repatriation charge		$ 1,900
Valuation allowance	$ 5,441		$ 3,236
Estimated reduction in uncertain tax provisions, next 12 months	6,700
Foreign
Income Tax Contingency [Line Items]
Long-term deferred tax assets	$ 900		$ 1,000

Income Taxes (Income Before Continuing Operations) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Income from Continuing Operations before Income Taxes:
United States									$ 167,508	$ (52,313)	$ 84,435
Foreign									23,643	14,258	22,651
Income (loss) before income taxes	$ 50,535	$ 50,554	$ 44,012	$ 46,050	$ (179,030)	$ 50,996	$ 43,519	$ 46,460	$ 191,151	$ (38,055)	$ 107,086

Income Taxes (Components of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Current
Federal									$ 24,051	$ 27,629	$ 31,327
State									2,506	3,156	2,686
Foreign									8,473	7,193	5,588
Deferred
Federal									14,119	(35,760)	(270,796)
State									(341)	(4,101)	(1,240)
Foreign									62	(372)	(49)
Total provision (benefit) for income taxes	$ 13,489	$ 12,496	$ 10,760	$ 12,125	$ (39,756)	$ 12,829	$ 12,678	$ 11,994	$ 48,870	$ (2,255)	$ (232,484)

Income Taxes (Components of Deferred Tax Balances) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Deferred Tax Assets
Allowance for doubtful accounts and sales returns	$ 4,996	$ 3,285
Inventory capitalization	1,168	1,245
Inventory reserves	705	1,267
Net operating loss carryforwards	115	226
State income taxes	8,896	9,003
Accrued liabilities	1,308	1,785
Accrued compensation	4,472	4,416
Stock compensation	4,334	4,206
Foreign tax credit	5,441	3,236
Interest	0	154
Lease liability	8,228	0
Unrealized foreign exchange loss	257	0
Other	13,191	7,691
Total deferred tax assets	53,111	36,514
Deferred Tax Liabilities
Property, plant and equipment	(7,590)	(6,002)
Intangible assets	(438,601)	(425,134)
Deferred cumulative catch-up adjustments - revenue recognition adjustments	(522)	(721)
Right-of-use asset	(7,876)	0
Total deferred tax liabilities	(454,589)	(431,857)
Net deferred tax liability before valuation allowance	(401,478)	(395,343)
Valuation allowance	(5,441)	(3,236)
Net deferred tax liability	$ (406,919)	$ (398,579)

Income Taxes (Reconciliation of Effective Tax Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax provision (benefit) at statutory rate	$ 40,142	$ (7,992)	$ 37,480
Income tax provision at statutory rate (as percent)	21.00%	21.00%	35.00%
Foreign tax provision (benefit)	$ 2,498	$ 2,866	$ (2,084)
Foreign tax benefit provision (as percent)	1.30%	(7.50%)	(1.90%)
State income taxes, net of federal income tax benefit	$ 1,606	$ (1,710)	$ 1,414
State income taxes, net of federal income tax benefit (as percent)	0.80%	4.50%	1.30%
Impact of tax legislation	$ 0	$ 0	$ (268,244)
Impact of tax (as percent)	0	0	(2.505)
Goodwill impairment	$ 0	$ 5,616	$ 0
Goodwill impairment (as percent)	0.00%	(14.80%)	0.00%
R&D	$ (320)	$ (629)	$ 0
R&D (as percent)	(0.20%)	1.70%	0.00%
Compensation limitations	$ 562	$ 296	$ 0
Compensation limitations (as percent)	0.30%	(0.80%)	0.00%
Valuation allowance	$ 2,205	$ 2,627	$ (2,828)
Valuation allowance (as percent)	1.20%	(6.90%)	(2.60%)
Gain on sale	$ 0	$ 1,312	$ 0
Gain on sale (as percent)	0.00%	(3.40%)	0.00%
Other	$ 2,177	$ (4,641)	$ 1,778
Other (as percent)	1.20%	12.10%	1.60%
Total provision (benefit) for income taxes	$ 48,870	$ (2,255)	$ (232,484)
Total provision for income taxes (as percent)	25.60%	5.90%	(217.10%)

Income Taxes (Uncertain Tax Liability Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance – beginning of year	$ 9,874	$ 10,827	$ 3,651
Additions based on tax positions related to the current year	495	585	7,286
Reductions based on lapse of statute of limitations	0	(650)	(110)
Payments and other movements	0	(888)	0
Balance – end of year	$ 10,369	$ 9,874	$ 10,827

Employee Retirement Plans (Narrative) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, minimum annual contributions per participating employee (as percent)	1.00%
Defined contribution plan, maximum annual contributions per employee (as percent)	70.00%
Defined contribution plan, cost recognized	$ 1,500,000	$ 1,500,000	$ 1,600,000
Defined benefit obligation	61,570,000	60,334,000	61,882,000
Net periodic benefit cost (income)	$ (559,000)	$ (690,000)	(372,000)
Expected return on plan assets, net of administrative fees (as percent)	5.00%	5.75%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net periodic benefit cost (income)	$ (1,000,000.0)
Qualified plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contributions to the qualified plan	1,000,000.0	$ 1,000,000.0	$ 0
Unfunded plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit obligation	$ 4,600,000	$ 4,600,000
Contribution Tranche One
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, employer matching contribution, percent of match (as percent)	100.00%
Defined contribution plan, employer matching contribution, percent of employees pay (as percent)	3.00%
Contribution Tranche Two
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, employer matching contribution, percent of match (as percent)	50.00%
Defined contribution plan, employer matching contribution, percent of employees pay (as percent)	3.00%

Employee Retirement Plans (Periodic Service Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Change in benefit obligation:
Projected benefit obligation at beginning of period	$ 60,334	$ 61,882
Interest cost	2,327	2,380	$ 2,529
Actuarial (gain) loss	2,375	(744)
Benefits paid	(3,466)	(3,184)
Projected benefit obligations at end of year	61,570	60,334	61,882
Change in plan assets:
Fair value of plan assets at beginning of period	51,115	50,508
Actual return on plan assets	3,742	2,416
Employer contribution	1,369	1,375
Benefits paid	(3,466)	(3,184)
Fair value of plan assets at end of year	52,760	51,115	$ 50,508
Funded status at end of year	$ (8,810)	$ (9,219)

Employee Retirement Plans (Amounts Recognized in the Balance Sheet) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Current liability	$ 359	$ 361
Long-term liability	8,451	8,858
Total	$ 8,810	$ 9,219

Employee Retirement Plans (Expected Return on Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Share-based Payment Arrangement [Abstract]
Interest cost	$ 2,327	$ 2,380	$ 2,529
Expected return on assets	(2,886)	(3,070)	(2,901)
Net periodic benefit (income)	$ (559)	$ (690)	$ (372)

Employee Retirement Plans (Expected Benefit Payments) (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Share-based Payment Arrangement [Abstract]
2021 (expectation) to participant benefits	$ 1,359
2021	3,476
2022	3,592
2023	3,669
2024	3,743
2025	3,718
2026-2029	$ 18,670

Employee Retirement Plans (Category of Plan Assets) (Details)	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	100.00%
Percentage of Plan Assets	100.00%	100.00%
Domestic large cap equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	16.00%
Percentage of Plan Assets	16.00%	18.00%
Domestic small/mid cap equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	6.00%
Percentage of Plan Assets	5.00%	5.00%
International equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	14.00%
Percentage of Plan Assets	15.00%	15.00%
Real estate
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	5.00%
Percentage of Plan Assets	5.00%	0.00%
Fixed income and cash
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	59.00%
Percentage of Plan Assets	59.00%	62.00%

Employee Retirement Plans (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Share-based Payment Arrangement [Abstract]
Unrecognized actuarial (gain)	$ 73	$ (1,469)	$ (1,407)
Unrecognized prior service credit	0	$ 0	$ 0
Amounts expected to be reclassified from accumulated other comprehensive income (loss) during 2021:
Unrecognized actuarial gain (loss)	0
Unrecognized prior service credit	$ 0

Employee Retirement Plans (Weighted Average Assumptions) (Details)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets, net of administrative fees	5.00%	5.75%
Rate of compensation increase	0.00%	0.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.37%	3.80%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.55%	3.99%

Commitments and Contingencies (Long-term Supply Agreement) (Details) - Third-party Manufacturing $ in Thousands	Mar. 31, 2020 USD ($)
Long-term Purchase Commitment [Line Items]
2021	$ 12,163
2022	11,929
2023	4,117
2024	2,364
2025	2,399
Thereafter	6,153
Total purchase commitment	$ 39,125

Concentrations of Risk (Details) - manufacturer	12 Months Ended
Concentrations of Risk (Details) - manufacturer	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Concentration Risk [Line Items]
Number of third-party manufacturers	113
Sales \| Product concentration risk \| Top 5 brands
Concentration Risk [Line Items]
Concentration risk, percentage	42.60%	42.90%	41.20%
Sales \| Customer concentration risk \| Walmart
Concentration Risk [Line Items]
Concentration risk, percentage	23.10%	23.70%	23.80%
Sales \| Supplier concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	62.30%	65.60%
Number of third-party manufacturers with long-term contracts	14	33
Accounts receivable \| Customer concentration risk \| Walmart
Concentration Risk [Line Items]
Concentration risk, percentage	20.20%

Business Segments (Information on Operating and Reportable Segments) (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
	Feb. 28, 2019	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information, Profit (Loss):
Total segment revenues		$ 251,235	$ 241,552	$ 238,069	$ 232,154	$ 241,026	$ 241,414	$ 239,357	$ 253,980	$ 963,010	$ 975,777	$ 1,041,179
Cost of sales		107,325	104,057	101,318	98,087	102,780	102,179	101,885	113,357	410,787	420,201	464,674
Gross profit		143,910	137,495	136,751	134,067	138,246	139,235	137,472	140,623	552,223	555,576	576,505
Advertising and promotion		40,167	33,559	38,667	34,801	34,433	34,504	37,042	37,111	147,194	143,090	147,286
Contribution margin										405,029	412,486	429,219
Other operating expenses										113,874	344,983	213,745
Operating income		$ 73,917	$ 76,404	$ 69,348	$ 71,486	$ (153,449)	$ 77,541	$ 70,924	$ 72,487	291,155	67,503	215,474
Tradename impairment											195,920
Goodwill, impairment loss	$ 33,500										33,541
Other operating expenses
Segment Reporting Information, Profit (Loss):
Goodwill, impairment loss											33,500
North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total segment revenues										859,368	862,446	868,874
Cost of sales										372,133	364,533	357,298
Gross profit										487,235	497,913	511,576
Advertising and promotion										127,972	126,374	129,058
Contribution margin										359,263	371,539	382,518
Goodwill, impairment loss											33,541
North American OTC Healthcare \| Intersegment Eliminations
Segment Reporting Information, Profit (Loss):
Total segment revenues										3,500	(7,400)	(7,700)
International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total segment revenues										103,642	93,520	91,658
Cost of sales										38,654	39,080	40,244
Gross profit										64,988	54,440	51,414
Advertising and promotion										19,222	16,286	16,267
Contribution margin										45,766	38,154	35,147
Goodwill, impairment loss											0
Household Cleaning
Segment Reporting Information, Profit (Loss):
Total segment revenues										0	19,811	80,647
Cost of sales										0	16,588	67,132
Gross profit										0	3,223	13,515
Advertising and promotion										0	430	1,961
Contribution margin										$ 0	2,793	11,554
Goodwill, impairment loss											0
Finite-Lived Tradenames and Customer Relationships \| Other operating expenses
Segment Reporting Information, Profit (Loss):
Tradename impairment											$ 195,900	$ 99,900

Business Segments (Revenue by Product) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Revenue from External Customer [Line Items]
Total segment revenues	$ 251,235	$ 241,552	$ 238,069	$ 232,154	$ 241,026	$ 241,414	$ 239,357	$ 253,980	$ 963,010	$ 975,777	$ 1,041,179
Analgesics
Revenue from External Customer [Line Items]
Total segment revenues									114,007	114,178	119,417
Cough & Cold
Revenue from External Customer [Line Items]
Total segment revenues									111,106	103,123	111,847
Women's Health
Revenue from External Customer [Line Items]
Total segment revenues									251,551	258,479	259,384
Gastrointestinal
Revenue from External Customer [Line Items]
Total segment revenues									172,908	160,462	152,236
Eye & Ear Care
Revenue from External Customer [Line Items]
Total segment revenues									112,156	112,837	104,052
Dermatologicals
Revenue from External Customer [Line Items]
Total segment revenues									103,012	97,972	96,888
Oral Care
Revenue from External Customer [Line Items]
Total segment revenues									93,205	103,432	111,002
Other OTC
Revenue from External Customer [Line Items]
Total segment revenues									5,065	5,483	5,706
Household Cleaning
Revenue from External Customer [Line Items]
Total segment revenues									0	19,811	80,647
North American OTC Healthcare
Revenue from External Customer [Line Items]
Total segment revenues									859,368	862,446	868,874
North American OTC Healthcare \| Analgesics
Revenue from External Customer [Line Items]
Total segment revenues									113,130	113,563	118,610
North American OTC Healthcare \| Cough & Cold
Revenue from External Customer [Line Items]
Total segment revenues									87,601	83,168	93,537
North American OTC Healthcare \| Women's Health
Revenue from External Customer [Line Items]
Total segment revenues									239,330	244,927	247,244
North American OTC Healthcare \| Gastrointestinal
Revenue from External Customer [Line Items]
Total segment revenues									130,088	125,416	117,627
North American OTC Healthcare \| Eye & Ear Care
Revenue from External Customer [Line Items]
Total segment revenues									100,245	101,128	92,308
North American OTC Healthcare \| Dermatologicals
Revenue from External Customer [Line Items]
Total segment revenues									100,591	95,801	94,775
North American OTC Healthcare \| Oral Care
Revenue from External Customer [Line Items]
Total segment revenues									83,323	92,964	99,072
North American OTC Healthcare \| Other OTC
Revenue from External Customer [Line Items]
Total segment revenues									5,060	5,479	5,701
International OTC Healthcare
Revenue from External Customer [Line Items]
Total segment revenues									103,642	93,520	91,658
International OTC Healthcare \| Analgesics
Revenue from External Customer [Line Items]
Total segment revenues									877	615	807
International OTC Healthcare \| Cough & Cold
Revenue from External Customer [Line Items]
Total segment revenues									23,505	19,955	18,310
International OTC Healthcare \| Women's Health
Revenue from External Customer [Line Items]
Total segment revenues									12,221	13,552	12,140
International OTC Healthcare \| Gastrointestinal
Revenue from External Customer [Line Items]
Total segment revenues									42,820	35,046	34,609
International OTC Healthcare \| Eye & Ear Care
Revenue from External Customer [Line Items]
Total segment revenues									11,911	11,709	11,744
International OTC Healthcare \| Dermatologicals
Revenue from External Customer [Line Items]
Total segment revenues									2,421	2,171	2,113
International OTC Healthcare \| Oral Care
Revenue from External Customer [Line Items]
Total segment revenues									9,882	10,468	11,930
International OTC Healthcare \| Other OTC
Revenue from External Customer [Line Items]
Total segment revenues									5	4	5
Household Cleaning
Revenue from External Customer [Line Items]
Total segment revenues									0	19,811	80,647
Household Cleaning \| Analgesics
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Cough & Cold
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Women's Health
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Gastrointestinal
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Eye & Ear Care
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Dermatologicals
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Oral Care
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Other OTC
Revenue from External Customer [Line Items]
Total segment revenues									0	0	0
Household Cleaning \| Household Cleaning
Revenue from External Customer [Line Items]
Total segment revenues									$ 0	$ 19,811	$ 80,647

Business Segments (Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues	$ 251,235	$ 241,552	$ 238,069	$ 232,154	$ 241,026	$ 241,414	$ 239,357	$ 253,980	$ 963,010	$ 975,777	$ 1,041,179
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues									812,653	837,049	903,511
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues									$ 150,357	$ 138,728	$ 137,668

Business Segments (Assets by Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 575,179	$ 578,583	$ 620,098
Indefinite-lived intangible assets		2,273,191
Finite-lived intangible assets	214,060	234,019
Intangible assets, net (excluding goodwill)	2,479,391	2,507,210
Intangible assets, net (including goodwill)	3,054,570	3,085,793
North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	546,643	547,393	580,934
Indefinite-lived intangible assets		2,195,617
Finite-lived intangible assets		228,743
Intangible assets, net (excluding goodwill)	2,405,221	2,424,360
Intangible assets, net (including goodwill)	2,951,864	2,971,753
International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	28,536	31,190	32,919
Indefinite-lived intangible assets		77,574
Finite-lived intangible assets		5,276
Intangible assets, net (excluding goodwill)	74,170	82,850
Intangible assets, net (including goodwill)	102,706	114,040
Finite-Lived Tradenames and Customer Relationships
Segment Reporting, Asset Reconciling Item [Line Items]
Finite-lived intangible assets	214,060
Finite-Lived Tradenames and Customer Relationships \| North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Finite-lived intangible assets	209,604
Finite-Lived Tradenames and Customer Relationships \| International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Finite-lived intangible assets	4,456
Indefinite- Lived Tradenames
Segment Reporting, Asset Reconciling Item [Line Items]
Indefinite-lived intangible assets	2,265,331	$ 2,273,191	$ 2,490,303
Indefinite- Lived Tradenames \| North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Indefinite-lived intangible assets	2,195,617
Indefinite- Lived Tradenames \| International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Indefinite-lived intangible assets	$ 69,714

Business Segments (Goodwill and Intangible Assets by Geographic Area) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Schedule of Goodwill and Intangible Assets by Geographic Areas [Line Items]
Intangible assets, net (including goodwill)	$ 3,054,570	$ 3,085,793
United States
Schedule of Goodwill and Intangible Assets by Geographic Areas [Line Items]
Intangible assets, net (including goodwill)	2,951,864	2,971,753
Rest of world
Schedule of Goodwill and Intangible Assets by Geographic Areas [Line Items]
Intangible assets, net (including goodwill)	$ 102,706	$ 114,040

Unaudited Quarterly Financial Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 251,235	$ 241,552	$ 238,069	$ 232,154	$ 241,026	$ 241,414	$ 239,357	$ 253,980	$ 963,010	$ 975,777	$ 1,041,179
Cost of sales	107,325	104,057	101,318	98,087	102,780	102,179	101,885	113,357	410,787	420,201	464,674
Gross profit	143,910	137,495	136,751	134,067	138,246	139,235	137,472	140,623	552,223	555,576	576,505
Operating Expenses
Advertising and promotion	40,167	33,559	38,667	34,801	34,433	34,504	37,042	37,111	147,194	143,090	147,286
General and administrative	23,584	21,308	22,514	21,706	21,299	20,485	24,034	23,941	89,112	89,759	85,393
Depreciation and amortization	6,242	6,224	6,222	6,074	6,502	6,705	6,756	7,084	24,762	27,047	28,428
Gain on divestiture					0	0	(1,284)	0	0	(1,284)	0
Goodwill and tradename impairment					229,461	0	0	0	0	229,461	99,924
Total operating expenses	69,993	61,091	67,403	62,581	291,695	61,694	66,548	68,136	261,068	488,073	361,031
Operating income	73,917	76,404	69,348	71,486	(153,449)	77,541	70,924	72,487	291,155	67,503	215,474
Interest expense, net of interest income	22,452	24,275	24,477	25,020	25,745	26,327	27,070	25,940
Loss on extinguishment of debt	0	2,155	0	0					2,155	0	2,901
Other expense (income), net	930	(580)	859	416	(164)	218	335	87	1,625	476	(392)
Income (loss) before income taxes	50,535	50,554	44,012	46,050	(179,030)	50,996	43,519	46,460	191,151	(38,055)	107,086
Provision for income taxes	13,489	12,496	10,760	12,125	(39,756)	12,829	12,678	11,994	48,870	(2,255)	(232,484)
Net income (loss)	$ 37,046	$ 38,058	$ 33,252	$ 33,925	$ (139,274)	$ 38,167	$ 30,841	$ 34,466	$ 142,281	$ (35,800)	$ 339,570
Earnings per share:
Basic (in USD per share)	$ 0.74	$ 0.76	$ 0.66	$ 0.66	$ (2.68)	$ 0.74	$ 0.59	$ 0.65	$ 2.81	$ (0.69)	$ 6.40
Diluted (in USD per share)	$ 0.73	$ 0.75	$ 0.65	$ 0.65	$ (2.68)	$ 0.73	$ 0.59	$ 0.65	$ 2.78	$ (0.69)	$ 6.34
Weighted average shares outstanding:
Basic (in shares)	50,367	50,378	50,455	51,697	51,912	51,881	51,841	52,640	50,723	52,068	53,099
Diluted (in shares)	50,878	50,831	50,811	52,047	51,912	52,202	52,153	52,942	51,140	52,068	53,526
Comprehensive income (loss), net of tax:
Currency translation adjustments	$ (12,052)	$ 3,497	$ (3,584)	$ (224)	$ 659	$ (2,020)	$ (2,145)	$ (2,974)	$ (12,363)	$ (6,480)	$ 5,702
Unrealized loss on interest rate swaps	(4,864)	0	0	0					(4,864)	0	0
Unrecognized net (loss) gain on pension plans	(1,187)	0	0	0	48	0	0	0	(1,187)	48	1,335
Total other comprehensive (loss) income	(18,103)	3,497	(3,584)	(224)	707	(2,020)	(2,145)	(2,974)	(18,414)	(6,432)	7,037
Comprehensive (loss) income	$ 18,943	$ 41,555	$ 29,668	$ 33,701	$ (138,567)	$ 36,147	$ 28,696	$ 31,492	$ 123,867	$ (42,232)	$ 346,607

Subsequent Events (Details) - $ / shares					12 Months Ended
Subsequent Events (Details) - $ / shares	May 04, 2020	Jul. 30, 2019	May 13, 2019	May 06, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Subsequent Event [Line Items]
Granted (in shares)					302,700	294,500	182,800
Performance Units
Subsequent Event [Line Items]
Granted (in shares)				98,644
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Granted (in shares)		4,183	7,287	89,286	220,300	226,400	105,800
Stock Options
Subsequent Event [Line Items]
Granted (in shares)			21,194	281,487
Award grant exercise price (in dollars per share)			$ 30.19	$ 30.56
Subsequent Event \| Performance Units
Subsequent Event [Line Items]
Granted (in shares)	79,070
Award vesting period	3 years
Subsequent Event \| Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Granted (in shares)	73,637
Award vesting period	3 years
Vesting rights (as percent)	33.30%
Subsequent Event \| Restricted Stock Units (RSUs) \| Director
Subsequent Event [Line Items]
Granted (in shares)	907
Award vesting period	1 year
Subsequent Event \| Stock Options
Subsequent Event [Line Items]
Granted (in shares)	249,874
Award vesting period	3 years
Vesting rights (as percent)	33.30%
Award term	ten
Award grant exercise price (in dollars per share)	$ 39.98

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Reserves for sales returns and allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 8,973	$ 8,813	$ 9,429
Amounts Charged to Expense	57,505	56,276	62,953
Deductions	(50,669)	(56,116)	(63,569)
Other	0	0	0
Balance at End of Year	15,809	8,973	8,813
Reserves for trade promotions
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	15,491	11,435	15,193
Amounts Charged to Expense	88,502	90,844	78,669
Deductions	(85,604)	(88,415)	(82,427)
Other	0	0	0
Balance at End of Year	18,389	15,491	11,435
Reserves for consumer coupon redemptions
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	1,175	2,645	4,614
Amounts Charged to Expense	4,555	5,199	7,283
Deductions	(3,667)	(6,669)	(9,252)
Other	0	0	0
Balance at End of Year	2,063	1,175	2,645
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	1,259	1,203	1,352
Amounts Charged to Expense	750	203	187
Deductions	(624)	(147)	(336)
Other	0	0	0
Balance at End of Year	1,385	1,259	1,203
Deferred tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	3,236	609	3,437
Amounts Charged to Expense	2,205	2,627	0
Deductions	0	0	0
Other	0	0	(2,828)
Balance at End of Year	$ 5,441	3,236	609
ASC 606 \| Reserves for trade promotions
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year		$ 13,062
Balance at End of Year			$ 13,062

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,343,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,343,000