0001295947-24-000017 | 10-K | XBRL Viewer | Prestige Consumer Healthcare INC

Goodwill (Tables)

12 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes the changes in the carrying value of goodwill by operating segment for each of 2022, 2023, and 2024:


(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Balance – March 31, 2022
Goodwill	$	712,002	$	32,272	$	744,274
Accumulated impairment losses	(163,711)		(1,587)		(165,298)
Balance - March 31, 2022	$	548,291	$	30,685	$	578,976

Adjustment related to acquisition	(550)		—		(550)



Effects of foreign currency exchange rates	—		(2,068)		(2,068)
Impairment loss	(48,805)		—		(48,805)

Balance – March 31, 2023
Goodwill	711,452		30,204		741,656
Accumulated impairment losses	(212,516)		(1,587)		(214,103)
Balance - March 31, 2023	$	498,936	$	28,617	$	527,553

Additions (a)	—		621		621



Effects of foreign currency exchange rates	—		(441)		(441)


Balance – March 31, 2024
Goodwill	711,452		30,384		741,836
Accumulated impairment losses	(212,516)		(1,587)		(214,103)
Balance - March 31, 2024	$	498,936	$	28,797	$	527,733

(a) On January 8, 2024, our Australian subsidiary acquired one of its suppliers. In connection with this acquisition, we preliminarily allocated $0.6 million to goodwill.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Business and Basis of Presentation (Cash and Cash Equivalents) (Details)	Mar. 31, 2024
Sydney, Australia
Cash and Cash Equivalents [Line Items]
Percentage of deposits held in one location (as percent)	49.00%
Singapore
Cash and Cash Equivalents [Line Items]
Percentage of deposits held in one location (as percent)	2.00%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2024

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
2025	$	6,219
2026	6,093
2027	5,796
2028	4,519
2029	2,096
Thereafter	—
	$	24,723

Schedule II Valuation and Qualifying Accounts

12 Months Ended

Mar. 31, 2024

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

Schedule II Valuation and Qualifying Accounts

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS


(In thousands)	Balance at Beginning of Year		Amounts Charged to Expense (Income)		Deductions		Other (a)		Balance at End of Year
Year Ended March 31, 2024
Reserves for sales returns and allowance	$	15,382	$	58,094	$	(62,314)	$	—	$	11,162


Reserve for cash discounts	3,025		21,173		(21,329)		—		2,869
Allowance for credit losses	1,798		703		(155)		—		2,346


Year Ended March 31, 2023
Reserves for sales returns and allowance	15,529		56,796		(56,693)		(250)		15,382


Reserve for cash discounts	2,593		21,620		(21,188)		—		3,025
Allowance for credit losses	1,598		730		(530)		—		1,798


Year Ended March 31, 2022
Reserves for sales returns and allowance	12,708		53,230		(51,156)		747		15,529


Reserve for cash discounts	2,204		21,712		(21,323)		—		2,593
Allowance for credit losses	1,545		58		(5)		—		1,598

(a) Relates to opening balance sheet adjustments for our Akorn acquisition.

Income Taxes ((Loss) Income Before Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income from Continuing Operations before Income Taxes:
United States	$ 239,405	$ (130,331)	$ 236,381
Foreign	36,620	36,416	26,077
Income (loss) before income taxes	$ 276,025	$ (93,915)	$ 262,458

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Business and Basis of Presentation

12 Months Ended

Mar. 31, 2024

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 products 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.

Economic Environment

There has been economic uncertainty in the United States and globally due to several factors, including global supply chain constraints, rising interest rates, a high inflationary environment and geopolitical events. We expect economic conditions will continue to be highly volatile and uncertain, put pressure on prices and supply, and could affect demand for our products. We have continued to see changes in the purchasing patterns of our end customers, including a reduction in the frequency of visits to retailers and a shift in many markets to purchasing our products online.

The volatile environment has impacted the supply of labor and raw materials and exacerbated rising input costs. We have and may continue to experience shortages, delays and backorders for certain ingredients and products, difficulty scheduling shipping for our products, as well as price increases from many of our suppliers for both shipping and product costs. Certain of our third-party manufacturers are currently having, and have had in the past, difficulty meeting demand, which is and has caused shortages of our products, particularly eye care products. These shortages have negatively impacted our results of operations in the fourth quarter of fiscal 2024, and we expect further shortages may have a negative impact on our sales. In addition, labor shortages have impacted our manufacturing operations and may impact our ability to supply certain products to our customers. If conditions cause further disruption in the global supply chain, the availability of labor and materials or otherwise further increase costs, it may materially affect our operations and those of third parties on which we rely, including causing material disruptions in the supply and distribution of our products. The extent to which these conditions impact our results and liquidity will depend on future developments, which are highly uncertain and cannot be predicted, including global supply chain constraints, inflation, global conflicts and instability, and the potential for further outbreaks of severe illnesses. These effects could have a material adverse impact on our business, liquidity, capital resources, and results of operations 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., “2024”) 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, 2024, approximately 49% of our cash is held by a bank in Australia and approximately 2% is held by a bank in Singapore. Substantially all of our remaining cash is held by a large U.S. domestic bank. 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. Substantially all of the Company's cash balances at March 31, 2024 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 credit losses 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. Included within Accounts Receivable is also a short-term interest-bearing loan receivable from one of our suppliers.

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			5 to 40
Machinery			3 to 15
Computer equipment and software			3 to 5
Furniture and fixtures			7 to 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 generally represent tradenames, brand names and patents and 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 24 years.

Indefinite-lived intangible assets are tested for impairment at the individual asset level 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 on an annual basis, or 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 senior notes 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

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. The segments are based on differences in geographical area. The North American and International OTC Healthcare segments market a variety of personal care and OTC healthcare products in the following product groups: Analgesics, Cough & Cold, Women's Health, Gastrointestinal, Eye & Ear Care, Dermatologicals, and Oral Care. 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 20 for disaggregated revenue information.

Satisfaction of Performance Obligations

Under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("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 logistics deductions concurrent with recording sales, which is made using the most likely amount method that 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 depreciation), warehousing costs, inbound and outbound shipping costs, and handling and storage costs. Warehousing, shipping and handling and storage costs were $68.3 million for 2024, $79.8 million for 2023 and $67.8 million for 2022.

Advertising and Marketing Costs

Advertising and marketing 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 our Lynchburg manufacturing facility were covered by defined benefit pension plans. We had a U.S. qualified defined benefit plan and an unfunded non-qualified plan. During the fourth quarter of 2021, we adopted a plan termination date of April 30, 2021 for the U.S. qualified defined benefit pension plan and began the plan termination process. The settlements of the terminated plan occurred during the first quarter of fiscal 2023. At the end of fiscal 2024, the terminated plan's only assets were a minimal amount of cash to cover administrative fees. Our remaining plan is an unfunded plan.

Income Taxes

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

The Income Taxes topic of the 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 (loss) 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 (loss) per share:


	Year Ended March 31,
(In thousands, except per share data)	2024		2023		2022
Numerator
Net income (loss)	$	209,339	$	(82,306)	$	205,381



Denominator
Denominator for basic earnings (loss) per share - weighted average shares outstanding	49,757		49,889		50,259
Dilutive effect of unvested restricted stock units and options issued to employees and directors	421		—		583
Denominator for diluted earnings (loss) per share	50,178		49,889		50,842

Earnings (loss) per Common Share:
Basic net earnings (loss) per share	$	4.21	$	(1.65)	$	4.09



Diluted net earnings (loss) per share	$	4.17	$	(1.65)	$	4.04

For 2024, 2023, and 2022 there were 0.2 million, 1.6 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 10 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 that 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 October 2021, the FASB issued Accounting Standards Update ("ASU") 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires entities to apply Topic 606 to recognize and measure contract assets and liabilities in a business combination. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. We adopted this standard effective April 1, 2023. The impact of the adoption of this new standard will depend on the magnitude of future acquisitions.

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 and also issued subsequent amendments to the initial guidance (collectively, "Topic 848"). In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which extends the period of time preparers can utilize the reference rate reform relief guidance in Topic 848. Topic 848 provides optional guidance for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. On April 4, 2023, we entered into Amendment No. 8 ("ABL Amendment No. 8") to the Company's asset-based revolving credit facility originally entered into on January 31, 2012 (the "2012 ABL Revolver"). ABL Amendment No. 8 provides for the replacement of LIBOR with Secured Overnight Financing Rate ("SOFR") as our reference rate. On June 12, 2023, we entered into Amendment No. 7 ("Term Loan Amendment No. 7") to the Company’s term loan originally entered into on January 31, 2012 (the “2012 Term Loan”), effective July 1, 2023. Term Loan Amendment No. 7 provides for the replacement of LIBOR with SOFR as our reference rate. Effective July 1, 2023, we have transitioned all discontinued reference rates to SOFR. The adoption of Topic 848 did not have a material impact on our Consolidated Financial Statements.

Recently Issued Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update require that entities disclose, on an annual basis, specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update also require disclosure, on an annual basis, of income taxes paid, disaggregated by federal, state and foreign taxes and disaggregated by individual jurisdictions in which income taxes paid are equal to or greater than five percent of total income taxes paid. In addition, the amendments in this update also require that income (or loss) before income taxes be disaggregated between domestic and foreign and income tax expense (or benefit) be disaggregated by federal, state and foreign. This ASU is effective for annual periods beginning after December 15, 2024. We are currently evaluating the impact that this ASU may have on our Consolidated Financial Statement disclosures.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update intend to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. This ASU requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker, the addition of a category for other segment items by reportable segment, that all annual segment disclosures be disclosed in interim periods, and other related segment disclosures. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently evaluating the impact that this ASU may have on our Consolidated Financial Statement disclosures.

Leases (Tables)

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Components of Lease Expense

The components of lease expense for the years ended March 31, 2024 and 2023 were as follows:


	March 31,
(In thousands)	2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	2,658	$	2,658
Interest on lease liabilities	88		170
Operating lease cost	6,564		6,495
Short term lease cost	132		153
Variable lease cost	61,069		59,735

Total net lease cost	$	70,511	$	69,211

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


		March 31, 2024
Weighted average remaining lease term (years)
	Operating leases	4.13
	Financing leases	0.87
Weighted average discount rate
	Operating leases	4.48	%
	Financing leases	2.92	%

Maturities of Operating Leases

As of March 31, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2025	$	5,109	$	1,509	$	6,618
2026	2,626		96		2,722
2027	2,207		80		2,287
2028	1,726		—		1,726
2029	367		—		367
Thereafter	1,565		—		1,565
Total undiscounted lease payments	13,600		1,685		15,285
Less amount of lease payments representing interest	(1,414)		(19)		(1,433)
Total present value of lease payments	$	12,186	$	1,666	$	13,852

Maturities of Finance Leases

As of March 31, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2025	$	5,109	$	1,509	$	6,618
2026	2,626		96		2,722
2027	2,207		80		2,287
2028	1,726		—		1,726
2029	367		—		367
Thereafter	1,565		—		1,565
Total undiscounted lease payments	13,600		1,685		15,285
Less amount of lease payments representing interest	(1,414)		(19)		(1,433)
Total present value of lease payments	$	12,186	$	1,666	$	13,852

Acquisition

12 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Acquisition

Akorn

On July 1, 2021, we completed the acquisition of the consumer health business assets from Akorn Operating Company LLC ("Akorn"), pursuant to an Asset Purchase Agreement, dated May 27, 2021 (the "Purchase Agreement"), for a purchase price of $228.9 million in cash, subject to certain closing adjustments specified in the Purchase Agreement. As a result of the purchase, we acquired TheraTears and certain other over-the-counter consumer brands. The financial results from this acquisition are included in our North American and International OTC Healthcare segments. The purchase price was funded by a combination of available cash on hand, additional borrowings under the 2012 ABL Revolver and the net proceeds from the refinancing of the 2012 Term Loan (see Note 10).

The acquisition was accounted for as a business combination. During 2022, we incurred acquisition-related costs of $5.1 million, which are included in General and administrative expense. In connection with the acquisition, we also entered into a supply arrangement with Akorn for a term of three years with optional renewals at prevailing market rates.

We finalized our analysis of the fair values of the assets acquired and liabilities assumed as of the date of acquisition. The following table summarizes our allocation of the assets acquired and liabilities assumed as of the July 1, 2021 acquisition date.


(In thousands)
	July 1, 2021


Inventories	$	6,455


Goodwill	1,098
Intangible assets	225,410

Total assets acquired	232,963

Accounts payable	428
Reserves for sales allowances	497
Other accrued liabilities	3,124


Total liabilities assumed	4,049
Total purchase price	$	228,914

Based on this analysis, we allocated $195.9 million to non-amortizable intangible assets and $29.5 million to amortizable intangible assets. The non-amortizable intangible assets are classified as trademarks and, of the amortizable intangible assets, $20.4 million are classified as customer relationships and $9.1 million are classified as trademarks. We are amortizing the purchased amortizable intangible assets on a straight-line basis over an estimated weighted average useful life of 12.5 years.

We recorded goodwill of $1.1 million based on the amount by which the purchase price exceeded the estimate of the fair value of the net assets acquired. Goodwill is deductible and is being amortized for income tax purposes.

The financial impact of this acquisition was not material to our Consolidated Financial Statements, and, therefore, we have not presented pro forma results of operations for the acquisition.

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Reserves for sales returns and allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 15,382	$ 15,529	$ 12,708
Amounts Charged to Expense (Income)	58,094	56,796	53,230
Deductions	(62,314)	(56,693)	(51,156)
Other	0	(250)	747
Balance at End of Year	11,162	15,382	15,529
Reserve for cash discounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	3,025	2,593	2,204
Amounts Charged to Expense (Income)	21,173	21,620	21,712
Deductions	(21,329)	(21,188)	(21,323)
Other	0	0	0
Balance at End of Year	2,869	3,025	2,593
Allowance for credit losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	1,798	1,598	1,545
Amounts Charged to Expense (Income)	703	730	58
Deductions	(155)	(530)	(5)
Other	0	0	0
Balance at End of Year	$ 2,346	$ 1,798	$ 1,598

Leases (Narrative) (Details) $ in Millions	12 Months Ended
Leases (Narrative) (Details) $ in Millions	Mar. 31, 2022 USD ($)
GEODIS Logistics LLC
Lessee, Lease, Description [Line Items]
Finance lease right-of-use assets, net	$ 0.5

Employee Retirement Plans (Periodic Service Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Change in benefit obligation:
Projected benefit obligation at beginning of period	$ 3,646	$ 51,507
Interest cost	152	423	$ 1,107
Actuarial gain	(47)	(2,044)
Benefits paid	(370)	(46,240)
Projected benefit obligations at end of year	3,381	3,646	51,507
Change in plan assets:
Fair value of plan assets at beginning of period	18	48,708
Actual return on plan assets	0	(2,820)
Employer contribution	370	370
Benefits paid	(370)	(1,371)
Settlements paid with termination of qualified plan	(18)	(44,869)
Fair value of plan assets at end of year	0	18	$ 48,708
Funded status at end of year	$ (3,381)	$ (3,628)
Defined Benefit Plan Net Periodic Benefit Cost Credit Expected Return Loss Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag	Actuarial gain	Actuarial gain	Actuarial gain
Defined Benefit Plan Net Periodic Benefit Cost Credit Interest Cost Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag	Interest cost	Interest cost	Interest cost

Business Segments (Assets by Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 527,733	$ 527,553	$ 578,976
Indefinite-lived intangible assets		2,168,902
Finite-lived intangible assets	153,421	172,991
Intangible assets, net	2,320,583	2,341,893
Intangible assets, net (including goodwill)	2,848,316	2,869,446
North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	498,936	498,936	548,291
Indefinite-lived intangible assets		2,092,852
Finite-lived intangible assets		154,552
Intangible assets, net	2,228,785	2,247,404
Intangible assets, net (including goodwill)	2,727,721	2,746,340
International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	28,797	28,617	30,685
Indefinite-lived intangible assets		76,050
Finite-lived intangible assets		18,439
Intangible assets, net	91,798	94,489
Intangible assets, net (including goodwill)	120,595	123,106
Finite-Lived Tradenames and Customer Relationships
Segment Reporting, Asset Reconciling Item [Line Items]
Finite-lived intangible assets	153,421
Finite-Lived Tradenames and Customer Relationships \| North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Finite-lived intangible assets	135,932
Finite-Lived Tradenames and Customer Relationships \| International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Finite-lived intangible assets	17,489
Indefinite- Lived Tradenames
Segment Reporting, Asset Reconciling Item [Line Items]
Indefinite-lived intangible assets	2,167,162	$ 2,168,902	$ 2,476,559
Indefinite- Lived Tradenames \| North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Indefinite-lived intangible assets	2,092,853
Indefinite- Lived Tradenames \| International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Indefinite-lived intangible assets	$ 74,309

Income Taxes (Uncertain Tax Liability Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance – beginning of year	$ 3,295	$ 3,562	$ 4,030
Reductions based on lapse of statute of limitations	(417)	(495)	(585)
Payments and other movements	447	228	117
Balance – end of year	$ 3,325	$ 3,295	$ 3,562

Acquisition (Allocation of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Jul. 01, 2021
Purchase Price
Goodwill	$ 527,733	$ 527,553	$ 578,976
Akorn Operating Company LLC
Purchase Price
Inventories				$ 6,455
Goodwill				1,098
Intangible assets				225,410
Total assets acquired				232,963
Accounts payable				428
Reserves for sales allowances				497
Other accrued liabilities				3,124
Total liabilities assumed				4,049
Total purchase price				$ 228,914

Stockholders' Equity (Schedule of Shares Repurchased) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Class of Stock [Line Items]
Treasury share repurchases	$ 30,507	$ 55,466	$ 2,916
Share Repurchase Program
Class of Stock [Line Items]
Restricted stock repurchased during period (in shares)	426,479	914,236
Restricted stock acquired, average cost per share (in USD per share)	$ 58.62	$ 54.69
Treasury share repurchases	$ 25,000	$ 50,000
Restricted Shares
Class of Stock [Line Items]
Restricted stock repurchased during period (in shares)	88,953	99,522
Restricted stock acquired, average cost per share (in USD per share)	$ 61.92	$ 54.92
Treasury share repurchases	$ 5,500	$ 5,500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Business Segments (Goodwill and Intangible Assets by Geographic Area) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Goodwill and Intangible Assets by Geographic Areas [Line Items]
Intangible assets, net (including goodwill)	$ 2,848,316	$ 2,869,446
United States
Schedule of Goodwill and Intangible Assets by Geographic Areas [Line Items]
Intangible assets, net (including goodwill)	2,727,721	2,746,340
Rest of world
Schedule of Goodwill and Intangible Assets by Geographic Areas [Line Items]
Intangible assets, net (including goodwill)	$ 120,595	$ 123,106

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued marketing costs	$ 24,053	$ 30,471
Accrued compensation costs	12,221	14,292
Accrued broker commissions	1,309	1,767
Income taxes payable	2,569	10,645
Accrued professional fees	5,046	4,254
Accrued production costs	4,166	5,700
Other accrued liabilities	6,790	5,395
Total other accrued liabilities	$ 56,154	$ 72,524

Concentrations of Risk	12 Months Ended
Concentrations of Risk	Mar. 31, 2024
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, drug, food, dollar, convenience and club stores and e-commerce channels. During 2024, 2023, and 2022, approximately 37.9%, 38.7%, and 41.3%, respectively, of our gross revenues were derived from our five top selling brands. Two customers, Walmart and Amazon, accounted for more than 10% of our gross revenues during 2024. During 2024, 2023, and 2022, Walmart accounted for approximately 19.7%, 19.7%, and 20.5%, respectively, of our gross revenues. During 2024, Amazon accounted for approximately 10.9% of our gross revenues. At March 31, 2024, approximately 19.2% of our accounts receivable were owed by Walmart and approximately 11.0% of our accounts receivable were owed by Amazon. Our product distribution in the United States is managed by a third-party through one primary distribution center in Clayton, Indiana. We also operate a manufacturing facility in Lynchburg, Virginia, which manufactures products representing approximately 11% of our gross revenues. A natural disaster, such as tornado, earthquake, flood, or fire at our distribution center or our own or a third-party manufacturing facility 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 labor shortages or contagious disease outbreaks or other public health emergencies at our distribution center or manufacturing facilities could also materially impact our product distribution. Any disruption could result in increased costs, expense and/or shipping times, and could harm our reputation and cause us to incur customer fees and penalties. We could also incur significantly higher costs and experience longer lead times should we be required to replace our distribution center, the third-party distribution manager or the manufacturing facilities. As a result, any serious disruption could have a material adverse effect on our business, financial condition and results of operations. At March 31, 2024, we had relationships with 122 third-party manufacturers. Of those, we had long-term contracts with 26 manufacturers that produced items that accounted for approximately 72.0% of our gross revenues for 2024, compared to 25 manufacturers with long-term contracts that accounted for approximately 69.8% of gross revenues in 2023. One of our suppliers, a privately owned pharmaceutical manufacturer with whom we have a long-term supply agreement, accounted for more than 10% of our gross revenues during 2024, 2023 and 2022. During 2024, 2023 and 2022, this manufacturer accounted for approximately 20% of our gross revenues while we accounted for a significant portion of their gross revenues over that time period. No other single third-party supplier accounts for 10% or more of our gross revenues. 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 continually 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.

Employee Retirement Plans (Tables)

12 Months Ended

Mar. 31, 2024

Retirement Benefits [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, 2024 and 2023:


	March 31,
(In thousands)	2024		2023
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	3,646	$	51,507
Interest cost	152		423
Actuarial gain	(47)		(2,044)
Benefits paid	(370)		(46,240)
Projected benefit obligations at end of year	$	3,381	$	3,646

Change in plan assets:
Fair value of plan assets at beginning of period	$	18	$	48,708
Actual return on plan assets	—		(2,820)
Employer contribution	370		370
Benefits paid	(370)		(1,371)
Settlements paid with termination of qualified plan	(18)		(44,869)
Fair value of plan assets at end of year	$	—	$	18

Funded status at end of year	$	(3,381)	$	(3,628)

The following table provides information regarding our pension plans with an accumulated benefit obligation and a projected benefit obligation in excess of plan assets:


	March 31,
(In thousands)	2024		2023
Accumulated benefit obligation	$	3,381	$	3,646
Fair value of plan assets	—		18

Projected benefit obligations	$	3,381	$	3,646
Fair value of plan assets	—		18

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)	2024		2023
Noncurrent asset	$	—	$	18

Current liability	361		362
Long-term liability	3,020		3,284
Total liabilities	$	3,381	$	3,646

Total net liability	$	(3,381)	$	(3,628)

Schedule of Primary Components of Net Periodic Benefits

The primary components of Net Periodic Benefit Cost (Income) consist of the following:


	Year Ended March 31,
(In thousands)	2024		2023		2022
Interest cost	$	152	$	423	$	1,107
Expected return on assets	—		(252)		(1,163)
Net periodic benefit cost (income)	$	152	$	171	$	(56)

Schedule of Expected to be Contributed

The following table includes amounts that are expected to be contributed to the unfunded plan by the Company. It reflects benefit payments that are 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:
2025 (expectation) to participant benefits	$	361

Expected benefit payments year ending March 31,
2025	$	361
2026	352
2027	340
2028	327
2029	313
2030-2033	1,352

Schedule of Net Periodic Benefit Cost Not yet Recognized

The following tables show the unrecognized actuarial gain included in accumulated other comprehensive income (loss) at March 31, 2024, 2023 and 2022:


(In thousands)
Balances in accumulated other comprehensive loss as of March 31, 2022:
Unrecognized actuarial (gain)	$	(1,522)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive loss as of March 31, 2023:
Unrecognized actuarial (gain)	$	(930)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive loss as of March 31, 2024:
Unrecognized actuarial (gain)	$	(942)
Unrecognized prior service credit	—

Schedule of Assumptions Used

Assumptions used in determining the actuarial present value of the net periodic benefit cost (income) for the fiscal years ended March 31, 2024, 2023 and 2022 were as follows:


	March 31,
	2024	2023 *	2022
Key assumptions:
Discount rate	4.88%	3.26% to 3.48%	2.58% to 2.95%
Expected return on plan assets, net of administrative fees	—%	2.75%	2.25%

*The qualified plan was remeasured at April 30, 2022 for settlement accounting, at which point a discount rate of 3.98% and an expected return assumption of 2.75% were selected and used to determine the net periodic benefit cost (income) for the remainder of the fourth quarter of fiscal 2023.

Assumptions used in determining the actuarial present value of the benefit obligation as of March 31, 2024 and 2023 were as follows:


	March 31,
	2024	2023
Key assumptions:
Discount rate	4.88%	4.47%

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

(Loss) 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)	2024		2023		2022
United States	$	239,405	$	(130,331)	$	236,381
Foreign	36,620		36,416		26,077

Total income (loss) before income taxes	$	276,025	$	(93,915)	$	262,458

Components of Provision for Income Taxes

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


	Year Ended March 31,
(In thousands)	2024		2023		2022
Current
Federal	$	28,302	$	33,475	$	34,446
State	3,662		3,721		3,961
Foreign	11,652		11,959		8,709
Deferred
Federal	20,582		(52,473)		12,055
State	3,034		(8,201)		(1,379)
Foreign	(546)		(90)		(715)
Total provision (benefit) for income taxes	$	66,686	$	(11,609)	$	57,077

Components of Deferred Tax Balances

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


	March 31,
(In thousands)	2024		2023
Deferred Tax Assets
Allowance for credit losses and sales returns	$	4,070	$	4,882
Inventory capitalization	1,685		2,508
Inventory reserves	1,353		1,707

State income taxes	8,246		7,440
Accrued liabilities	1,431		1,616
Accrued compensation	3,230		3,757
Stock compensation	3,580		4,613
Research and development	4,179		1,429

Lease liability	2,604		4,795
Unrealized foreign exchange loss	204		673
Other	10,319		9,450
Total deferred tax assets	$	40,901	$	42,870

Deferred Tax Liabilities
Property, plant and equipment	$	(9,403)	$	(6,874)
Intangible assets	(430,308)		(410,219)

Right-of-use asset	(2,371)		(4,300)
Total deferred tax liabilities	$	(442,082)	$	(421,393)



Net deferred tax liability	$	(401,181)	$	(378,523)

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,
	2024			2023			2022
(In thousands)			%			%			%
Income tax provision (benefit) at statutory rate	$	57,965	21.0	$	(19,722)	21.0	$	55,116	21.0
Foreign tax provision	3,164		1.1	4,168		(4.4)	2,876		1.1
State income taxes provision (benefit), net of federal income tax benefit	6,004		2.2	(5,300)		5.6	1,737		0.7


Goodwill impairment	—		—	10,232		(10.9)	—		—
Research and development	(700)		(0.3)	(514)		0.5	(213)		(0.1)
Compensation limitations	1,910		0.7	1,483		(1.6)	1,563		0.6

Foreign tax credit	(889)		(0.3)	(1,297)		1.4	—		—

Uncertain tax positions	390		0.1	(91)		0.1	(369)		(0.1)
Other	(1,158)		(0.3)	(568)		0.7	(3,633)		(1.5)
Total provision (benefit) for income taxes	$	66,686	24.2	$	(11,609)	12.4	$	57,077	21.7

Uncertain Tax Liability Activity

Uncertain tax liability activity is as follows:


	2024		2023		2022
(In thousands)
Balance – beginning of year	$	3,295	$	3,562	$	4,030

Reductions based on lapse of statute of limitations	(417)		(495)		(585)
Payments and other movements	447		228		117
Balance – end of year	$	3,325	$	3,295	$	3,562

Share-Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Shares
Outstanding, beginning of period (in shares)	1,081,000	1,100,900	1,114,900
Granted (in shares)	131,100	197,600	234,200
Exercised (in shares)	(440,300)	(205,200)	(226,000.0)
Forfeited (in shares)	(41,000.0)	(10,300)	(13,700)
Expired (in shares)	(2,800)	(2,000.0)	(8,500)
Outstanding, end of period (in shares)	728,000.0	1,081,000	1,100,900
Exercisable, end of period (in shares)	434,800
Weighted Average Exercise Price
Outstanding, beginning of period, weighted-average exercise price (in USD per share)	$ 43.96	$ 40.62	$ 37.92
Options, grant date fair value (in USD per share)	61.81	54.48	44.74
Exercised, weighted-average exercise price (in USD per share)	41.08	35.93	31.15
Forfeited weighted average exercise price (in USD per share)	54.15	49.53	37.83
Expired weighted average exercise price (in USD per share)	54.47	42.63	56.63
Outstanding, end of period, weighted-average exercise price (in USD per share)	48.30	$ 43.96	$ 40.62
Exercisable, end of period, weighted-average exercise price (in USD per share)	$ 43.56
Options
Outstanding, end of period, weighted-average remaining contractual term	6 years 4 months 24 days
Exercisable, end of period, weighted-average remaining contractual term	5 years 2 months 12 days
Outstanding, end of period, aggregate intrinsic value	$ 17,664
Exercisable, end of period, aggregate intrinsic value	$ 12,610

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Inventory Disclosure [Abstract]
Packaging and raw materials	$ 19,210	$ 20,634
Work in process	636	220
Finished goods	118,871	141,267
Inventories	138,717	162,121
Inventory valuation reserves related to obsolete and slow-moving inventory	$ 4,700	$ 5,800

Goodwill (Narrative) (Details) - USD ($) $ in Thousands				12 Months Ended
Goodwill (Narrative) (Details) - USD ($) $ in Thousands	Feb. 29, 2024	Feb. 28, 2023	Feb. 28, 2022	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2022	Jul. 01, 2021
Goodwill [Line Items]
Goodwill				$ 527,553	$ 527,733	$ 578,976
Goodwill, impairment loss		$ 48,800		48,805
Additional impairment that would be recorded as a result of basis point increase	$ 9,100
Measurement Input, Long-term Revenue Growth Rate
Goodwill [Line Items]
Indefinite-lived intangible asset, increase (decrease) in measurement input	10.00%
Measurement Input, Discount Rate
Goodwill [Line Items]
Indefinite-lived intangible asset, increase (decrease) in measurement input	0.50%
Measurement Input, Cap Rate
Goodwill [Line Items]
Indefinite-lived intangible asset, increase (decrease) in measurement input	0.50%
Akorn Operating Company LLC
Goodwill [Line Items]
Goodwill							$ 1,098
International OTC Healthcare
Goodwill [Line Items]
Goodwill				28,617	$ 28,797	$ 30,685
Goodwill, impairment loss			$ 300	$ 0

Goodwill

12 Months Ended

Mar. 31, 2024

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 2022, 2023, and 2024:


(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Balance – March 31, 2022
Goodwill	$	712,002	$	32,272	$	744,274
Accumulated impairment losses	(163,711)		(1,587)		(165,298)
Balance - March 31, 2022	$	548,291	$	30,685	$	578,976

Adjustment related to acquisition	(550)		—		(550)



Effects of foreign currency exchange rates	—		(2,068)		(2,068)
Impairment loss	(48,805)		—		(48,805)

Balance – March 31, 2023
Goodwill	711,452		30,204		741,656
Accumulated impairment losses	(212,516)		(1,587)		(214,103)
Balance - March 31, 2023	$	498,936	$	28,617	$	527,553

Additions (a)	—		621		621



Effects of foreign currency exchange rates	—		(441)		(441)


Balance – March 31, 2024
Goodwill	711,452		30,384		741,836
Accumulated impairment losses	(212,516)		(1,587)		(214,103)
Balance - March 31, 2024	$	498,936	$	28,797	$	527,733

(a) On January 8, 2024, our Australian subsidiary acquired one of its suppliers. In connection with this acquisition, we preliminarily allocated $0.6 million to goodwill.

At February 28, 2022, in conjunction with the annual test for goodwill impairment, which coincides with our annual strategic planning process, we recorded an impairment charge of $0.3 million to write off the remaining goodwill related to our Painstop brand in our International OTC Healthcare segment.

At February 28, 2023, in conjunction with the annual test for goodwill impairment, which coincides with our annual strategic planning process, we recorded an impairment charge of $48.8 million to adjust the carrying amount of goodwill related to our North American Women's Health and North American Oral Care reporting units. The impairment charges were primarily a result of increased discount rates due to current macroeconomic conditions discussed in Note 7.

At February 29, 2024, in conjunction with the annual test for goodwill impairment, which coincides with our annual strategic planning process, the estimated fair value exceeded the carrying value for all reporting units and accordingly, no impairment charge was taken.

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. 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, 2024 and February 28, 2023, 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 related to future sales, gross margins, and advertising and marketing expenses, which can be impacted by increases in competition, changing consumer preferences, technical advances, supply chain constraints, labor shortages, and inflation. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. If these assumptions are adversely affected, we may be required to record additional impairment charges in the future.

Our analysis at February 29, 2024 determined that all reporting units had a fair value that exceeded their carrying value by at least 10%, with the exception of the North American Women's Health reporting unit. 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 have resulted in an impairment charge of $9.1 million. Additionally, a 50-basis point decrease in the terminal growth rate used for each reporting unit would not have resulted in any of our reporting units' fair value being less than their carrying value.

Long-Term Debt (Narrative Interest Rate Swaps) (Details) $ in Millions	Jan. 31, 2020 USD ($)
Interest Rate Swap \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative, notional amount	$ 400.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Share-Based Compensation (Restricted Shares Activity) (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Shares
Outstanding, beginning of period (in shares)	409,000.0	440,900	457,000.0
Granted (in shares)	157,100	151,000.0	170,800
Incremental performance shares (in shares)	41,400	42,400
Vested and issued (in shares)	(205,000.0)	(223,400)	(162,300)
Forfeited (in shares)	(10,600)	(1,900)	(24,600)
Outstanding, end of period (in shares)	391,900	409,000.0	440,900
Vested, end of period (in shares)	110,200	108,500	106,800
Weighted Average Grant Date Fair Value
Outstanding, beginning of period, weighted-average grant-date fair value (in USD per share)	$ 47.17	$ 38.45	$ 33.52
Granted, weighted-average grant-date fair value (in USD per share)	62.06	55.03	45.32
Vested and issued, weighted-average grant-date fair value (in USD per share)	43.17	32.09	32.99
Forfeited, weighted-average grant-date fair value (in USD per share)	52.68	49.51	30.54
Outstanding, end of period, weighted-average grant-date fair value (in USD per share)	54.43	47.17	38.45
Vested, end of period, weighted-average grant-date fair value (in USD per share)	$ 38.77	$ 36.54	$ 36.42

Long-Term Debt (Tables)

12 Months Ended

Mar. 31, 2024

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, 2024		March 31, 2023

2021 Senior Notes bearing interest at 3.750%, with interest payable on April 1 and October 1 of each year. The 2021 Senior Notes mature on April 1, 2031.	$	600,000	$	600,000


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		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 0.50%, or an alternate base rate plus a margin of 1.00% per annum (at March 31, 2023) and SOFR plus a margin of 2.00% plus a credit spread adjustment (at March 31, 2024), due on July 1, 2028.	135,000		360,000




Long-term debt	1,135,000		1,360,000
Less: unamortized debt costs	(9,196)		(14,212)
Long-term debt, net	$	1,125,804	$	1,345,788

Schedule of Future Principal Payments

As of March 31, 2024, aggregate future principal payments required in accordance with the terms of the 2012 Term Loan, 2012 ABL Revolver and the indentures governing the 2021 Senior Notes and the 2019 Senior Notes are as follows:


(In thousands)
Year Ending March 31,	Amount
2025	$	—
2026	—
2027	—
2028	400,000
2029	135,000
Thereafter	600,000
	$	1,135,000

- 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.

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+ Details

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 21, 2018	Mar. 31, 2024	Mar. 31, 2023	Mar. 01, 2021
Debt Instrument [Line Items]
Long-term debt		$ 1,135,000	$ 1,360,000
Less: unamortized debt costs		(9,196)	(14,212)
Long-term debt, net		1,125,804	1,345,788
2021 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as percent)				3.75%
2021 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 600,000	600,000
Debt instrument, stated interest rate (as percent)		3.75%
2019 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 400,000	400,000
Debt instrument, stated interest rate (as percent)		5.125%
Loans Payable, Term B-5 Amendment No. 5 \| Term Loans
Debt Instrument [Line Items]
Long-term debt		$ 135,000	$ 360,000
Loans Payable, Term B-5 Amendment No. 5 \| Term Loans \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	1.00%
Loans Payable, Term B-5 Amendment No. 5 \| Term Loans \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	2.00%
2012 Term B-5 Loans \| Term Loans \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)			1.00%
2012 Term B-5 Loans \| Term Loans \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)			2.00%
Debt instrument, variable rate, minimum			0.50%
Loans Payable, Term B-5 Amendment No. 7 \| Term Loans \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)		2.00%

Business and Basis of Presentation (Cost of Sales) (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Warehousing, shipping and handling and storage costs
Revenue from External Customer [Line Items]
Warehousing, shipping and handling, and storage costs	$ 68.3	$ 79.8	$ 67.8

Business and Basis of Presentation (Leases) (Details)	Mar. 31, 2024
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	10 years

Business Segments (Information on Operating and Reportable Segments) (Details) - USD ($) $ in Thousands			12 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information, Profit (Loss):
Total segment revenues			$ 1,125,357	$ 1,127,725	$ 1,086,812
Cost of sales			500,909	502,431	466,166
Gross profit			624,448	625,294	620,646
Advertising and marketing			153,315	145,061	157,343
Contribution margin			471,133	480,233	463,303
Other operating expenses			128,704	502,648	133,384
Operating income (loss)			342,429	(22,415)	329,919
Impairment of intangible assets		$ 700		321,412
Goodwill, impairment loss	$ 48,800			48,805
North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total segment revenues			958,260	973,774	967,881
Cost of sales			429,361	441,844	419,162
Gross profit			528,899	531,930	548,719
Advertising and marketing			131,494	123,926	138,714
Contribution margin			397,405	408,004	410,005
Goodwill, impairment loss				48,805
North American OTC Healthcare \| Intersegment Eliminations
Segment Reporting Information, Profit (Loss):
Total segment revenues			3,700	4,300	3,000
International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total segment revenues			167,097	153,951	118,931
Cost of sales			71,548	60,587	47,004
Gross profit			95,549	93,364	71,927
Advertising and marketing			21,821	21,135	18,629
Contribution margin			$ 73,728	72,229	$ 53,298
Goodwill, impairment loss		$ 300		$ 0

Business and Basis of Presentation (Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Numerator
Net income (loss)	$ 209,339	$ (82,306)	$ 205,381
Denominator
Denominator for basic earnings (loss) per share - weighted average shares outstanding	49,757	49,889	50,259
Dilutive effect of unvested restricted stock units and options issued to employees and directors (in shares)	421	0	583
Denominator for diluted (loss) earnings per share (in shares)	50,178	49,889	50,842
Earnings (loss) per Common Share:
Basic net (loss) earnings per share (in USD per share)	$ 4.21	$ (1.65)	$ 4.09
Diluted net (loss) earnings per share (in USD per share)	$ 4.17	$ (1.65)	$ 4.04
Antidilutive securities excluded from computation of earnings per share (in shares)	200	1,600	400

Income Taxes (Narrative) (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Long-term deferred tax assets	$ 2,400,000	$ 1,900,000
Valuation allowance	0	$ 0
Estimated reduction in uncertain tax provisions, next 12 months	$ 2,600,000

Derivative Instruments (Tables)

12 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

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


(In thousands)	Location	2024		2023		2022
Gain Recognized in Other Comprehensive (Loss) Income (effective portion)	Other comprehensive income (loss)	$	—	$	—	$	1,819
Loss Reclassified from Accumulated Other Comprehensive (Loss) Income into Income	Interest expense, net	$	—	$	—	$	(2,429)

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Mar. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Long-Term Debt (Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Debt Disclosure [Abstract]
2025	$ 0
2026	0
2027	0
2028	400,000
2029	135,000
Thereafter	600,000
Long-term debt, gross	$ 1,135,000	$ 1,360,000

Intangible Assets

12 Months Ended

Mar. 31, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets

A reconciliation of the activity affecting intangible assets, net for each of 2024 and 2023 is as follows:


	Year Ended March 31, 2024
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2023	$	2,168,902	$	411,118	$	2,580,020
Additions (a)	393		680		1,073



Effects of foreign currency exchange rates	(2,133)		(540)		(2,673)
Balance – March 31, 2024	$	2,167,162	$	411,258	$	2,578,420

Accumulated Amortization
Balance – March 31, 2023	$	—	$	238,127	$	238,127
Additions	—		19,784		19,784

Effects of foreign currency exchange rates	—		(74)		(74)
Balance – March 31, 2024	$	—	$	257,837	$	257,837

Intangible assets, net – March 31, 2024	$	2,167,162	$	153,421	$	2,320,583

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,092,853	$	135,932	$	2,228,785
International OTC Healthcare	74,309		17,489		91,798

Intangible assets, net – March 31, 2024	$	2,167,162	$	153,421	$	2,320,583

(a) On January 8, 2024, our Australian subsidiary acquired one of its suppliers. In connection with this acquisition, we preliminarily allocated $1.1 million to intangible assets.


	Year Ended March 31, 2023
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2022	$	2,476,559	$	436,174	$	2,912,733



Tradename impairment	(298,664)		(22,748)		(321,412)
Effects of foreign currency exchange rates	(8,993)		(2,308)		(11,301)
Balance – March 31, 2023	$	2,168,902	$	411,118	$	2,580,020

Accumulated Amortization
Balance – March 31, 2022	$	—	$	216,098	$	216,098
Additions	—		22,266		22,266

Effects of foreign currency exchange rates	—		(237)		(237)
Balance – March 31, 2023	$	—	$	238,127	$	238,127

Intangible assets, net – March 31, 2023	$	2,168,902	$	172,991	$	2,341,893

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,092,852	$	154,552	$	2,247,404
International OTC Healthcare	76,050		18,439		94,489

Intangible assets, net – March 31, 2023	$	2,168,902	$	172,991	$	2,341,893

During the fourth quarter of each fiscal year, in conjunction with our strategic planning process, we perform our annual impairment analysis for intangible assets. We utilized the excess earnings method to estimate the fair value of our individual indefinite-lived intangible assets. The assumptions subject to significant uncertainties in the analysis include the discount rate, as well as future sales, gross margins and advertising and marketing expenses. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. 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 marketing expenses, or the potential impacts of supply chain constraints, labor shortages, or inflation, we may be required to record additional impairment charges in the future.

At February 28, 2022, in conjunction with the annual test for impairment of intangible assets, we recorded an impairment charge of $0.7 million. In connection with our long-term planning, two non-core brands in our North American OTC Healthcare segment were discontinued and therefore the related finite-lived intangible assets were written off.

As a result of our annual impairment test at February 28, 2023, the fair values of three of our indefinite-lived intangible assets, Summer’s Eve, DenTek and TheraTears, did not exceed the carrying values and, as such, impairment charges totaling $298.7 million were recorded. The impairment charges were primarily a result of an overall increase in the discount rate used to value the brands, as well as, in the case of Summer’s Eve, our reassessment of the long-term sales projections of this brand during our annual planning cycle. The indefinite-lived intangible assets impaired are all part of our North American OTC Healthcare segment.

Our analysis at February 28, 2023 concluded that the fair value of several of our non-core finite-lived intangible assets did not exceed their carrying values, and as such, impairment charges of $22.7 million were recorded. The impairment charges were the result of our reassessment of the long-term sales projections for the associated non-core brands during our annual planning cycle, the largest of which pertains to the strategic exit of our DenTek private label business. The finite-lived trademarks impaired are all part of the North American OTC Healthcare segment.

At February 29, 2024, in conjunction with the annual test for impairment of intangible assets, the estimated fair value exceeded the carrying value for all intangible assets and accordingly, no impairment charge was taken.

Our analysis at February 29, 2024 determined that all indefinite-lived intangible assets had a fair value that exceeded their carrying value by at least 10%, with the exception of Summer’s Eve and TheraTears within our North American Women’s Health reporting unit and North American Eye & Ear Care reporting unit, respectively. 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 all of our indefinite-lived intangible assets would have resulted in an impairment charge of $3.2 million. Additionally, a 50-basis point decrease in the terminal growth rate used for each of our indefinite-lived intangible assets would not have resulted in any of our indefinite-lived intangible assets' fair values being less than their carrying values.

The weighted average remaining life for finite-lived intangible assets at March 31, 2024 was approximately 7.7 years, and the amortization expense for the year ended March 31, 2024 was $19.8 million. At March 31, 2024, finite-lived intangible assets are expected to be amortized over their estimated useful lives, which ranges from a period of 10 to 24 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
2025	$	18,139
2026	16,189
2027	14,597
2028	12,262
2029	12,262
Thereafter	79,972
	$	153,421

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, 2021		53,999,000
Beginning balance at Mar. 31, 2021	$ 1,358,298	$ 540	$ 499,508	$ (130,732)	$ (19,801)	$ 1,008,783
Beginning balance, treasury stock (in shares) at Mar. 31, 2021				4,088,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 9,039		9,039
Exercise of stock options (in shares)	226,000.0	226,000
Exercise of stock options	$ 7,040	$ 2	7,038
Issuance of shares related to restricted stock (in shares)		205,000
Issuance of shares related to restricted stock	0	$ 2	(2)
Treasury share repurchases (in shares)				63,000
Treasury share repurchases	(2,916)			$ (2,916)
Net income (loss)	205,381					205,381
Other comprehensive (loss) income	769				769
Ending balance, common stock (in shares) at Mar. 31, 2022		54,430,000
Ending balance at Mar. 31, 2022	1,577,611	$ 544	515,583	$ (133,648)	(19,032)	1,214,164
Ending balance, treasury stock (in shares) at Mar. 31, 2022				4,151,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 12,405		12,405
Exercise of stock options (in shares)	205,200	205,000
Exercise of stock options	$ 7,372	$ 2	7,370
Issuance of shares related to restricted stock (in shares)		222,000
Issuance of shares related to restricted stock	0	$ 2	(2)
Treasury share repurchases (in shares)				1,014,000
Treasury share repurchases	(55,466)			$ (55,466)
Net income (loss)	(82,306)					(82,306)
Other comprehensive (loss) income	(12,532)				(12,532)
Ending balance, common stock (in shares) at Mar. 31, 2023		54,857,000
Ending balance at Mar. 31, 2023	$ 1,447,084	$ 548	535,356	$ (189,114)	(31,564)	1,131,858
Ending balance, treasury stock (in shares) at Mar. 31, 2023	5,165,000			5,165,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 14,010		14,010
Exercise of stock options (in shares)	440,300	441,000
Exercise of stock options	$ 18,089	$ 5	18,084
Issuance of shares related to restricted stock (in shares)		203,000
Issuance of shares related to restricted stock	0	$ 2	(2)
Treasury share repurchases (in shares)				515,000
Treasury share repurchases	(30,507)			$ (30,507)
Net income (loss)	209,339					209,339
Other comprehensive (loss) income	(2,931)				(2,931)
Ending balance, common stock (in shares) at Mar. 31, 2024		55,501,000
Ending balance at Mar. 31, 2024	$ 1,655,084	$ 555	$ 567,448	$ (219,621)	$ (34,495)	$ 1,341,197
Ending balance, treasury stock (in shares) at Mar. 31, 2024	5,680,000			5,680,000

Employee Retirement Plans (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Apr. 30, 2022	Jun. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
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			$ 2,000	$ 1,900	$ 1,700
Lump sum settlement of terminated plan		$ 13,800
Payment for settlement, purchase of annuity contract		31,100
Settlement gain (loss)		$ (400)
Projected benefit obligations			$ 3,381	$ 3,646	$ 51,507
Expected return on plan assets, net of administrative fees (as percent)	2.75%		0.00%	2.75%	2.25%
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%

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	$ 1,655,084	$ 1,447,084	$ 1,577,611	$ 1,358,298
Accumulated other comprehensive loss, tax	(217)	(214)
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	(34,495)	(31,564)	$ (19,032)	$ (19,801)
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	(35,220)	(32,280)
Unrecognized net gain on pension plans, net of tax of $(217) and $(214), respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	$ 725	$ 716

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Business and Basis of Presentation (Pension Expense) (Details) $ in Millions	3 Months Ended
	Jun. 30, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Settlement gain, before tax	$ (0.4)

Leases

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

The components of lease expense for the years ended March 31, 2024 and 2023 were as follows:


	March 31,
(In thousands)	2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	2,658	$	2,658
Interest on lease liabilities	88		170
Operating lease cost	6,564		6,495
Short term lease cost	132		153
Variable lease cost	61,069		59,735

Total net lease cost	$	70,511	$	69,211

As of March 31, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2025	$	5,109	$	1,509	$	6,618
2026	2,626		96		2,722
2027	2,207		80		2,287
2028	1,726		—		1,726
2029	367		—		367
Thereafter	1,565		—		1,565
Total undiscounted lease payments	13,600		1,685		15,285
Less amount of lease payments representing interest	(1,414)		(19)		(1,433)
Total present value of lease payments	$	12,186	$	1,666	$	13,852

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


		March 31, 2024
Weighted average remaining lease term (years)
	Operating leases	4.13
	Financing leases	0.87
Weighted average discount rate
	Operating leases	4.48	%
	Financing leases	2.92	%

Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during 2022. The noncash lease liability arising from obtaining ROU assets was $0.5 million for these assets. These amounts represent noncash financing activities.

Leases

The components of lease expense for the years ended March 31, 2024 and 2023 were as follows:


	March 31,
(In thousands)	2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	2,658	$	2,658
Interest on lease liabilities	88		170
Operating lease cost	6,564		6,495
Short term lease cost	132		153
Variable lease cost	61,069		59,735

Total net lease cost	$	70,511	$	69,211

As of March 31, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2025	$	5,109	$	1,509	$	6,618
2026	2,626		96		2,722
2027	2,207		80		2,287
2028	1,726		—		1,726
2029	367		—		367
Thereafter	1,565		—		1,565
Total undiscounted lease payments	13,600		1,685		15,285
Less amount of lease payments representing interest	(1,414)		(19)		(1,433)
Total present value of lease payments	$	12,186	$	1,666	$	13,852

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


		March 31, 2024
Weighted average remaining lease term (years)
	Operating leases	4.13
	Financing leases	0.87
Weighted average discount rate
	Operating leases	4.48	%
	Financing leases	2.92	%

Long-Term Debt (Narrative 2019 and 2021 Senior Notes) (Details) - USD ($)	Mar. 01, 2021	Dec. 02, 2019	Mar. 31, 2024
2019 Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 400,000,000
Debt instrument, stated interest rate (as percent)		5.125%
2019 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Early repayment of senior debt		$ 400,000,000
2021 Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600,000,000
Debt instrument, stated interest rate (as percent)	3.75%
2021 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as percent)			3.75%
Early repayment of senior debt	$ 600,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Long-Term Debt (Narrative Interest, Redemptions and Restrictions) (Details) - USD ($) $ in Millions			12 Months Ended
	Mar. 01, 2021	Dec. 02, 2019	Mar. 31, 2024	Mar. 31, 2023
Debt Instrument [Line Items]
Amortization of long-term debt			$ 5.2	$ 4.4
2012 ABL Revolver \| 2012 ABL Revolver
Debt Instrument [Line Items]
Debt instrument, average interest rate (as percent)				2.50%
Senior Notes \| Indirect guarantee of indebtedness \| 2019 Senior Notes
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount (as percent)		101.00%
Senior Notes \| Indirect guarantee of indebtedness \| 2021 Senior Notes
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount (as percent)	101.00%
Term Loans \| 2012 Term Loan
Debt Instrument [Line Items]
Debt instrument, average interest rate (as percent)			7.30%	4.80%

Employee Retirement Plans (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Retirement Benefits [Abstract]
Unrecognized actuarial (gain) loss	$ (942)	$ (930)	$ (1,522)
Unrecognized prior service credit	$ 0	$ 0	$ 0

Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 193,152	$ 187,221
Less allowances for discounts, returns and uncollectible accounts	(16,377)	(20,205)
Accounts receivable, net	176,775	167,016
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	185,027	183,372
Short-term loan receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	5,938	3,800
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 2,187	$ 49

Acquisition (Tables)

12 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes our allocation of the assets acquired and liabilities assumed as of the July 1, 2021 acquisition date.


(In thousands)
	July 1, 2021


Inventories	$	6,455


Goodwill	1,098
Intangible assets	225,410

Total assets acquired	232,963

Accounts payable	428
Reserves for sales allowances	497
Other accrued liabilities	3,124


Total liabilities assumed	4,049
Total purchase price	$	228,914

Derivative Instruments (Schedule of Derivative Gains and Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Gain Recognized in Other Comprehensive (Loss) Income (effective portion)	$ 0	$ 0	$ 1,819
Interest Rate Swap \| Designated as Hedging Instrument
Derivative [Line Items]
Gain Recognized in Other Comprehensive (Loss) Income (effective portion)	0	0	1,819
Interest Rate Swap \| Designated as Hedging Instrument \| Interest Expense
Derivative [Line Items]
Loss Reclassified from Accumulated Other Comprehensive (Loss) Income into Income	$ 0	$ 0	$ (2,429)

Accounts Receivable

12 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Accounts Receivable

Accounts receivable consist of the following:


	March 31,
(In thousands)	2024		2023
Components of Accounts Receivable
Trade accounts receivable	$	185,027	$	183,372
Short-term loan receivable	5,938		3,800
Other receivables	2,187		49
	193,152		187,221
Less allowances for discounts, returns and uncollectible accounts	(16,377)		(20,205)
Accounts receivable, net	$	176,775	$	167,016

Concentrations of Risk (Details) - manufacturer	12 Months Ended
Concentrations of Risk (Details) - manufacturer	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Concentration Risk [Line Items]
Number of third-party manufacturers	122
Sales \| Product concentration risk \| Top 5 brands
Concentration Risk [Line Items]
Concentration risk, percentage	37.90%	38.70%	41.30%
Sales \| Customer concentration risk \| Walmart
Concentration Risk [Line Items]
Concentration risk, percentage	19.70%	19.70%	20.50%
Sales \| Customer concentration risk \| Amazon
Concentration Risk [Line Items]
Concentration risk, percentage	10.90%
Sales \| Supplier concentration risk
Concentration Risk [Line Items]
Number of third-party manufacturers with long-term contracts	26	25
Sales \| Supplier concentration risk \| Manufacturing Facility, Lynchburg, Virginia
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Sales \| Supplier concentration risk \| Manufacturers
Concentration Risk [Line Items]
Concentration risk, percentage	72.00%	69.80%
Sales \| Supplier concentration risk \| Contract Pharmacal Corporation
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%	20.00%	20.00%
Accounts receivable \| Customer concentration risk \| Walmart
Concentration Risk [Line Items]
Concentration risk, percentage	19.20%
Accounts receivable \| Customer concentration risk \| Amazon
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	May 07, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	May 06, 2024
Subsequent Event [Line Items]
Granted (in shares)		131,100	197,600	234,200
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount					$ 300.0
Performance Units \| Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	70,270
Award vesting period	3 years
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Granted (in shares)		157,100	151,000.0	170,800
Award vesting period		3 years
Restricted Stock Units (RSUs) \| Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	59,646
Vesting rights (as percent)	33.30%
Award vesting period	3 years
Restricted Stock Units (RSUs) \| Minimum \| Subsequent Event
Subsequent Event [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs) \| Maximum \| Subsequent Event
Subsequent Event [Line Items]
Award vesting period	4 years
Stock Options \| Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	109,666
Vesting rights (as percent)	33.30%
Award vesting period	3 years
Expiration period	10 years
Award grant exercise price (in dollars per share)	$ 69.94
Stock Options \| Minimum
Subsequent Event [Line Items]
Award vesting period		3 years

Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2024

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 2024 and 2023 is as follows:


	Year Ended March 31, 2024
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2023	$	2,168,902	$	411,118	$	2,580,020
Additions (a)	393		680		1,073



Effects of foreign currency exchange rates	(2,133)		(540)		(2,673)
Balance – March 31, 2024	$	2,167,162	$	411,258	$	2,578,420

Accumulated Amortization
Balance – March 31, 2023	$	—	$	238,127	$	238,127
Additions	—		19,784		19,784

Effects of foreign currency exchange rates	—		(74)		(74)
Balance – March 31, 2024	$	—	$	257,837	$	257,837

Intangible assets, net – March 31, 2024	$	2,167,162	$	153,421	$	2,320,583

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,092,853	$	135,932	$	2,228,785
International OTC Healthcare	74,309		17,489		91,798

Intangible assets, net – March 31, 2024	$	2,167,162	$	153,421	$	2,320,583

(a) On January 8, 2024, our Australian subsidiary acquired one of its suppliers. In connection with this acquisition, we preliminarily allocated $1.1 million to intangible assets.


	Year Ended March 31, 2023
(In thousands)	Indefinite- Lived Tradenames		Finite-Lived Tradenames and Customer Relationships		Totals
Gross Carrying Amounts
Balance – March 31, 2022	$	2,476,559	$	436,174	$	2,912,733



Tradename impairment	(298,664)		(22,748)		(321,412)
Effects of foreign currency exchange rates	(8,993)		(2,308)		(11,301)
Balance – March 31, 2023	$	2,168,902	$	411,118	$	2,580,020

Accumulated Amortization
Balance – March 31, 2022	$	—	$	216,098	$	216,098
Additions	—		22,266		22,266

Effects of foreign currency exchange rates	—		(237)		(237)
Balance – March 31, 2023	$	—	$	238,127	$	238,127

Intangible assets, net – March 31, 2023	$	2,168,902	$	172,991	$	2,341,893

Intangible Assets, net by Reportable Segment:
North American OTC Healthcare	$	2,092,852	$	154,552	$	2,247,404
International OTC Healthcare	76,050		18,439		94,489

Intangible assets, net – March 31, 2023	$	2,168,902	$	172,991	$	2,341,893

Schedule of Expected Amortization Expense

At March 31, 2024, finite-lived intangible assets are expected to be amortized over their estimated useful lives, which ranges from a period of 10 to 24 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
2025	$	18,139
2026	16,189
2027	14,597
2028	12,262
2029	12,262
Thereafter	79,972
	$	153,421

Business Segments (Revenue by Product) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Revenue from External Customer [Line Items]
Total segment revenues	$ 1,125,357	$ 1,127,725	$ 1,086,812
Analgesics
Revenue from External Customer [Line Items]
Total segment revenues	117,451	119,262	119,323
Cough & Cold
Revenue from External Customer [Line Items]
Total segment revenues	119,020	126,988	107,080
Women's Health
Revenue from External Customer [Line Items]
Total segment revenues	240,421	251,351	264,509
Gastrointestinal
Revenue from External Customer [Line Items]
Total segment revenues	231,610	226,583	204,559
Eye & Ear Care
Revenue from External Customer [Line Items]
Total segment revenues	179,423	171,076	163,449
Dermatologicals
Revenue from External Customer [Line Items]
Total segment revenues	129,102	123,741	120,386
Oral Care
Revenue from External Customer [Line Items]
Total segment revenues	96,305	97,627	97,521
Other OTC
Revenue from External Customer [Line Items]
Total segment revenues	12,025	11,097	9,985
North American OTC Healthcare
Revenue from External Customer [Line Items]
Total segment revenues	958,260	973,774	967,881
North American OTC Healthcare \| Analgesics
Revenue from External Customer [Line Items]
Total segment revenues	111,996	116,582	117,868
North American OTC Healthcare \| Cough & Cold
Revenue from External Customer [Line Items]
Total segment revenues	93,575	100,218	86,855
North American OTC Healthcare \| Women's Health
Revenue from External Customer [Line Items]
Total segment revenues	217,103	231,754	249,136
North American OTC Healthcare \| Gastrointestinal
Revenue from External Customer [Line Items]
Total segment revenues	160,889	156,957	152,191
North American OTC Healthcare \| Eye & Ear Care
Revenue from External Customer [Line Items]
Total segment revenues	156,553	151,879	149,454
North American OTC Healthcare \| Dermatologicals
Revenue from External Customer [Line Items]
Total segment revenues	123,288	119,822	117,173
North American OTC Healthcare \| Oral Care
Revenue from External Customer [Line Items]
Total segment revenues	83,212	85,542	85,239
North American OTC Healthcare \| Other OTC
Revenue from External Customer [Line Items]
Total segment revenues	11,644	11,020	9,965
International OTC Healthcare
Revenue from External Customer [Line Items]
Total segment revenues	167,097	153,951	118,931
International OTC Healthcare \| Analgesics
Revenue from External Customer [Line Items]
Total segment revenues	5,455	2,680	1,455
International OTC Healthcare \| Cough & Cold
Revenue from External Customer [Line Items]
Total segment revenues	25,445	26,770	20,225
International OTC Healthcare \| Women's Health
Revenue from External Customer [Line Items]
Total segment revenues	23,318	19,597	15,373
International OTC Healthcare \| Gastrointestinal
Revenue from External Customer [Line Items]
Total segment revenues	70,721	69,626	52,368
International OTC Healthcare \| Eye & Ear Care
Revenue from External Customer [Line Items]
Total segment revenues	22,870	19,197	13,995
International OTC Healthcare \| Dermatologicals
Revenue from External Customer [Line Items]
Total segment revenues	5,814	3,919	3,213
International OTC Healthcare \| Oral Care
Revenue from External Customer [Line Items]
Total segment revenues	13,093	12,085	12,282
International OTC Healthcare \| Other OTC
Revenue from External Customer [Line Items]
Total segment revenues	$ 381	$ 77	$ 20

Stockholders' Equity (Tables)

12 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Share Repurchases

Our share repurchases consisted of the following:


	Year Ended March 31,
	2024	2023
Shares repurchased pursuant to the provisions of the various employee restricted stock awards:
Number of shares	88,953	99,522
Average price per share	$61.92	$54.92
Total amount repurchased	$5.5 million	$5.5 million

Shares repurchased in conjunction with our share repurchase program:
Number of shares	426,479	914,236
Average price per share	$58.62	$54.69
Total amount repurchased	$25.0 million	$50.0 million

Commitments and Contingencies

12 Months Ended

Mar. 31, 2024

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 be material to our 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
2025	$	6,219
2026	6,093
2027	5,796
2028	4,519
2029	2,096
Thereafter	—
	$	24,723

Accumulated Other Comprehensive Loss

12 Months Ended

Mar. 31, 2024

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, 2024 and 2023:


	March 31,
(In thousands)	2024		2023
Components of Accumulated Other Comprehensive Loss
Cumulative translation adjustment	$	(35,220)	$	(32,280)

Unrecognized net gain on pension plans, net of tax of $(217) and $(214), respectively	725		716

Accumulated other comprehensive loss, net of tax	$	(34,495)	$	(31,564)

Income Taxes (Reconciliation of Effective Tax Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax provision (benefit) at statutory rate	$ 57,965	$ (19,722)	$ 55,116
Foreign tax provision	3,164	4,168	2,876
State income taxes provision (benefit), net of federal income tax benefit	6,004	(5,300)	1,737
Goodwill impairment	0	10,232	0
Research and development	(700)	(514)	(213)
Compensation limitations	1,910	1,483	1,563
Foreign tax credit	(889)	(1,297)	0
Uncertain tax positions	390	(91)	(369)
Other	(1,158)	(568)	(3,633)
Total provision (benefit) for income taxes	$ 66,686	$ (11,609)	$ 57,077
Income tax provision (benefit) at statutory rate	21.00%	21.00%	21.00%
Foreign tax provision	1.10%	(4.40%)	1.10%
State income taxes provision (benefit), net of federal income tax benefit	2.20%	5.60%	0.70%
Goodwill impairment	0.00%	(10.90%)	0.00%
Research and development	(0.30%)	0.50%	(0.10%)
Compensation limitations	0.70%	(1.60%)	0.60%
Foreign tax credit	(0.30%)	1.40%	0.00%
Uncertain tax positions	0.10%	0.10%	(0.10%)
Other	(0.30%)	0.70%	(1.50%)
Total provision (benefit) for income taxes	24.20%	12.40%	21.70%

Income Taxes (Components of Deferred Tax Balances) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Deferred Tax Assets
Allowance for credit losses and sales returns	$ 4,070	$ 4,882
Inventory capitalization	1,685	2,508
Inventory reserves	1,353	1,707
State income taxes	8,246	7,440
Accrued liabilities	1,431	1,616
Accrued compensation	3,230	3,757
Stock compensation	3,580	4,613
Research and development	4,179	1,429
Lease liability	2,604	4,795
Unrealized foreign exchange loss	204	673
Other	10,319	9,450
Total deferred tax assets	40,901	42,870
Deferred Tax Liabilities
Property, plant and equipment	(9,403)	(6,874)
Intangible assets	(430,308)	(410,219)
Right-of-use asset	(2,371)	(4,300)
Total deferred tax liabilities	(442,082)	(421,393)
Net deferred tax liability	$ (401,181)	$ (378,523)

Business and Basis of Presentation (Tables)

12 Months Ended

Mar. 31, 2024

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			5 to 40
Machinery			3 to 15
Computer equipment and software			3 to 5
Furniture and fixtures			7 to 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)	2024		2023
Components of Property, Plant and Equipment
Land	$	550	$	550
Building	31,009		30,447
Machinery	70,873		50,639
Computer equipment	30,173		26,413
Furniture and fixtures	3,294		3,229
Leasehold improvements	10,555		9,040
Construction in progress	2,413		17,089
	148,867		137,407
Accumulated depreciation	(72,360)		(66,995)
Property, plant and equipment, net	$	76,507	$	70,412

Computation of Basic and Diluted (Loss) Earnings Per Share

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


	Year Ended March 31,
(In thousands, except per share data)	2024		2023		2022
Numerator
Net income (loss)	$	209,339	$	(82,306)	$	205,381



Denominator
Denominator for basic earnings (loss) per share - weighted average shares outstanding	49,757		49,889		50,259
Dilutive effect of unvested restricted stock units and options issued to employees and directors	421		—		583
Denominator for diluted earnings (loss) per share	50,178		49,889		50,842

Earnings (loss) per Common Share:
Basic net earnings (loss) per share	$	4.21	$	(1.65)	$	4.09



Diluted net earnings (loss) per share	$	4.17	$	(1.65)	$	4.04

Property, Plant and Equipment

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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


	March 31,
(In thousands)	2024		2023
Components of Property, Plant and Equipment
Land	$	550	$	550
Building	31,009		30,447
Machinery	70,873		50,639
Computer equipment	30,173		26,413
Furniture and fixtures	3,294		3,229
Leasehold improvements	10,555		9,040
Construction in progress	2,413		17,089
	148,867		137,407
Accumulated depreciation	(72,360)		(66,995)
Property, plant and equipment, net	$	76,507	$	70,412

We recorded depreciation expense of $8.2 million, $7.7 million, and $8.0 million for 2024, 2023, and 2022, respectively.

Leases (Lease Maturities) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Operating Leases
2025	$ 5,109
2026	2,626
2027	2,207
2028	1,726
2029	367
Thereafter	1,565
Total undiscounted lease payments	13,600
Less amount of lease payments representing interest	(1,414)
Total present value of lease payments	12,186
Financing Leases
2025	1,509
2026	96
2027	80
2028	0
2029	0
Thereafter	0
Total undiscounted lease payments	1,685
Less amount of lease payments representing interest	(19)
Total present value of lease payments	1,666
Total
2025	6,618
2026	2,722
2027	2,287
2028	1,726
2029	367
Thereafter	1,565
Total undiscounted lease payments	15,285
Less amount of lease payments representing interest	(1,433)
Total present value of lease payments	$ 13,852

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The market values have been determined based on market values for similar instruments adjusted for certain factors. As such, the 2021 Senior Notes, the 2019 Senior Notes, and the Term B-5 Loans 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, 2024 and 2023).


	March 31, 2024				March 31, 2023
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value



2019 Senior Notes	$	400,000	$	389,000	$	400,000	$	383,500
2021 Senior Notes	600,000		522,750		600,000		510,750

2012 Term B-5 Loans	135,000		135,506		360,000		359,550

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Current assets
Cash and cash equivalents	$ 46,469	$ 58,489
Accounts receivable, net of allowance of $16,377 and $20,205, respectively	176,775	167,016
Inventories	138,717	162,121
Prepaid expenses and other current assets	13,082	4,117
Total current assets	375,043	391,743
Property, plant and equipment, net	76,507	70,412
Operating lease right-of-use assets	11,285	14,923
Finance lease right-of-use assets, net	1,541	4,200
Goodwill	527,733	527,553
Intangible assets, net	2,320,583	2,341,893
Other long-term assets	5,725	3,005
Total Assets	3,318,417	3,353,729
Current liabilities
Accounts payable	38,979	62,743
Accrued interest payable	15,763	15,688
Operating lease liabilities, current portion	4,658	6,926
Finance lease liabilities, current portion	1,494	2,834
Other accrued liabilities	56,154	72,524
Total current liabilities	117,048	160,715
Long-term debt, net	1,125,804	1,345,788
Deferred income tax liabilities	403,596	380,434
Long-term operating lease liabilities, net of current portion	7,528	9,876
Long-term finance lease liabilities, net of current portion	172	1,667
Other long-term liabilities	9,185	8,165
Total Liabilities	1,663,333	1,906,645
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; Issued – 55,501 shares at March 31, 2024 and 54,857 shares at March 31, 2023	555	548
Additional paid-in capital	567,448	535,356
Treasury stock, at cost – 5,680 shares at March 31, 2024 and 5,165 shares at March 31, 2023	(219,621)	(189,114)
Accumulated other comprehensive loss, net of tax	(34,495)	(31,564)
Retained earnings	1,341,197	1,131,858
Total Stockholders’ Equity	1,655,084	1,447,084
Total Liabilities and Stockholders’ Equity	$ 3,318,417	$ 3,353,729

Employee Retirement Plans (Pension Plans in Excess of Plan Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligations	$ 3,381	$ 3,646	$ 51,507
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	3,381	3,646
Fair value of plan assets	0	18
Projected benefit obligations	3,381	3,646
Fair value of plan assets	$ 0	$ 18

Commitments and Contingencies (Long-term Supply Agreement) (Details) - Third-party Manufacturing $ in Thousands	Mar. 31, 2024 USD ($)
Long-term Purchase Commitment [Line Items]
2025	$ 6,219
2026	6,093
2027	5,796
2028	4,519
2029	2,096
Thereafter	0
Total purchase commitment	$ 24,723

Intangible Assets (Expected Amortization Expense) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2025	$ 18,139
2026	16,189
2027	14,597
2028	12,262
2029	12,262
Thereafter	79,972
Intangible assets, net	$ 153,421	$ 172,991

Acquisition (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
Acquisition (Narrative) (Details) - USD ($) $ in Thousands	Jul. 01, 2021	Mar. 31, 2022	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 578,976	$ 527,733	$ 527,553
Akorn Operating Company LLC
Business Acquisition [Line Items]
Purchase price	$ 228,900
Supply commitment, term of agreement	3 years
Business combination, non-amortizable intangible assets, allocated amount	$ 195,900
Business combination, amortizable intangible assets, allocated amount	$ 29,500
Intangible assets, useful lives	12 years 6 months
Goodwill	$ 1,098
Customer Relationships \| Akorn Operating Company LLC
Business Acquisition [Line Items]
Business combination, non-amortizable intangible assets, allocated amount	20,400
Trademarks \| Akorn Operating Company LLC
Business Acquisition [Line Items]
Business combination, non-amortizable intangible assets, allocated amount	$ 9,100
General and Administrative Expense \| Akorn Operating Company LLC
Business Acquisition [Line Items]
Acquisition-related costs		$ 5,100

Employee Retirement Plans (Expected Return on Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Retirement Benefits [Abstract]
Interest cost	$ 152	$ 423	$ 1,107
Expected return on assets	0	(252)	(1,163)
Net periodic benefit cost (income)	$ 152	$ 171	$ (56)
Defined Benefit Plan Net Periodic Benefit Cost Credit Interest Cost Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag	Interest cost	Interest cost	Interest cost
Defined Benefit Plan Net Periodic Benefit Cost Credit Expected Return Loss Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag	Actuarial gain	Actuarial gain	Actuarial gain

Employee Retirement Plans

12 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

Employee Retirement Plans

We 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 $2.0 million, $1.9 million and $1.7 million for 2024, 2023 and 2022, respectively.

Certain employees of our Lynchburg manufacturing facility were covered by defined benefit pension plans. We had a qualified defined benefit plan (the "Plan") and an unfunded non-qualified plan.

During the fourth quarter of 2021, we adopted a termination date of April 30, 2021 for the Plan and began the Plan termination process. The settlements of the terminated Plan occurred during the first quarter of fiscal 2023, with lump sum settlements in the amount of $13.8 million being paid to eligible Plan participants who elected such payments and the purchase of annuity contracts for $31.1 million to the remaining participants. These settlements were paid using Plan assets and resulted in a settlement loss of $0.4 million. No further contributions to the Plan were necessary.

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, 2024 and 2023:


	March 31,
(In thousands)	2024		2023
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	3,646	$	51,507
Interest cost	152		423
Actuarial gain	(47)		(2,044)
Benefits paid	(370)		(46,240)
Projected benefit obligations at end of year	$	3,381	$	3,646

Change in plan assets:
Fair value of plan assets at beginning of period	$	18	$	48,708
Actual return on plan assets	—		(2,820)
Employer contribution	370		370
Benefits paid	(370)		(1,371)
Settlements paid with termination of qualified plan	(18)		(44,869)
Fair value of plan assets at end of year	$	—	$	18

Funded status at end of year	$	(3,381)	$	(3,628)

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


	March 31,
(In thousands)	2024		2023
Noncurrent asset	$	—	$	18

Current liability	361		362
Long-term liability	3,020		3,284
Total liabilities	$	3,381	$	3,646

Total net liability	$	(3,381)	$	(3,628)

The primary components of Net Periodic Benefit Cost (Income) consist of the following:


	Year Ended March 31,
(In thousands)	2024		2023		2022
Interest cost	$	152	$	423	$	1,107
Expected return on assets	—		(252)		(1,163)
Net periodic benefit cost (income)	$	152	$	171	$	(56)

The following table provides information regarding our pension plans with an accumulated benefit obligation and a projected benefit obligation in excess of plan assets:


	March 31,
(In thousands)	2024		2023
Accumulated benefit obligation	$	3,381	$	3,646
Fair value of plan assets	—		18

Projected benefit obligations	$	3,381	$	3,646
Fair value of plan assets	—		18

The pension benefit obligation amounts stated above are made up entirely of our unfunded plan.


(In thousands)	Pension Benefits
Employer contributions:
2025 (expectation) to participant benefits	$	361

Expected benefit payments year ending March 31,
2025	$	361
2026	352
2027	340
2028	327
2029	313
2030-2033	1,352

Prior to the termination of the Plan, the Company's primary investment objective for its qualified pension plan assets was to provide a source of retirement income for the Plan's participants and beneficiaries. There were no plan assets as of March 31, 2024 and all assets at March 31, 2023 were held in cash.

The following tables show the unrecognized actuarial gain included in accumulated other comprehensive income (loss) at March 31, 2024, 2023 and 2022:


(In thousands)
Balances in accumulated other comprehensive loss as of March 31, 2022:
Unrecognized actuarial (gain)	$	(1,522)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive loss as of March 31, 2023:
Unrecognized actuarial (gain)	$	(930)
Unrecognized prior service credit	—

Balances in accumulated other comprehensive loss as of March 31, 2024:
Unrecognized actuarial (gain)	$	(942)
Unrecognized prior service credit	—

Assumptions used in determining the actuarial present value of the net periodic benefit cost (income) for the fiscal years ended March 31, 2024, 2023 and 2022 were as follows:


	March 31,
	2024	2023 *	2022
Key assumptions:
Discount rate	4.88%	3.26% to 3.48%	2.58% to 2.95%
Expected return on plan assets, net of administrative fees	—%	2.75%	2.25%

Assumptions used in determining the actuarial present value of the benefit obligation as of March 31, 2024 and 2023 were as follows:


	March 31,
	2024	2023
Key assumptions:
Discount rate	4.88%	4.47%

In fiscal 2023 and 2022, 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. In fiscal 2024, no long-term rate of return is expected due to the termination of the Plan.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Share-Based Compensation

12 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

In connection with our initial public offering, the Board of Directors adopted the 2005 Long-Term Equity Incentive Plan (the “2005 Plan”), which provided 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, our stockholders ratified, an increase of an additional 1.8 million shares of our common stock for issuance under the 2005 Plan, an increase of the maximum number of shares subject to stock options that could be awarded to any one participant under the 2005 Plan during any fiscal 12-month period from 1.0 million to 2.5 million shares, and an extension of the term of the 2005 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, were eligible for grants under the 2005 Plan.

On June 23, 2020, the Board of Directors adopted the Prestige Consumer Healthcare Inc. 2020 Long-Term Incentive Plan (the “2020 Plan”). The 2020 Plan became effective on August 4, 2020, upon the approval of the 2020 Plan by our stockholders. On June 23, 2020, a total of 2,827,210 shares were available for issuance under the 2020 Plan (comprised of 2,000,000 new shares plus 827,210 shares that were unissued under the 2005 Plan). All future equity awards will be made from the 2020 Plan, and the Company will not grant any additional awards under the 2005 Plan.

The following table provides information regarding our stock-based compensation:


	March 31,
(In thousands)	2024		2023		2022
Pre-tax share-based compensation costs charged against income	$	14,010	$	12,405	$	9,039
Income tax benefit recognized on compensation costs	$	1,190	$	1,138	$	633
Total fair value of options and RSUs vested during the period	$	12,213	$	10,352	$	7,943
Cash received from the exercise of stock options	$	18,089	$	7,372	$	7,040
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises	$	2,161	$	1,500	$	3,419

At March 31, 2024, there were $2.7 million of unrecognized compensation costs related to unvested stock options under the 2005 Plan and the 2020 Plan, excluding an estimate for forfeitures which may occur. We expect to recognize such costs over a weighted average period of 1.6 years. At March 31, 2024, there were $9.3 million of unrecognized compensation costs related to unvested RSUs and performance-based stock units ("PSUs") under the 2005 Plan and the 2020 Plan, excluding an estimate for forfeitures that may occur. We expect to recognize such costs over a weighted average period of 1.7 years.

At March 31, 2024, there were 1.9 million shares available for issuance under the 2020 Plan.

Restricted Stock Units

RSUs granted to employees under the 2005 Plan and the 2020 Plan generally vest in three years, primarily upon the attainment of certain time vesting thresholds, and, in the case of PSUs, are also 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 2005 Plan and the 2020 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 Committee or, in the case of RSUs granted in May 2017 and later, 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 (i) the director's death, (ii) the director's disability or (iii) the 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 fiscal 2020 through fiscal 2022 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 RSUs granted to directors in fiscal 2023 and fiscal 2024 fully vest one year after receipt of the award, subject to the continued service of the director on such vesting date, and will be settled by delivery to each director of one share of our common stock for each vested RSU either (a) at the election of the director prior to the grant date, immediately upon vesting, or (b) promptly following the earliest of (i) such director's death, (ii) such 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 2005 Plan and 2020 Plan is presented below:


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

Unvested at March 31, 2021	457.0	$	33.52

Granted	170.8	45.32
Vested	(162.3)	32.99
Forfeited	(24.6)	30.54
Unvested at March 31, 2022	440.9	38.45
Vested at March 31, 2022	106.8	36.42

Granted	151.0	55.03
Incremental performance shares	42.4	—
Vested	(223.4)	32.09
Forfeited	(1.9)	49.51
Unvested at March 31, 2023	409.0	47.17
Vested at March 31, 2023	108.5	36.54

Granted	157.1	62.06
Incremental performance shares	41.4	—
Vested	(205.0)	43.17
Forfeited	(10.6)	52.68
Unvested at March 31, 2024	391.9	54.43
Vested at March 31, 2024	110.2	38.77

Options

The 2005 Plan and the 2020 Plan provide 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 years. The option awards provide for accelerated vesting in the event of a change in control, as defined in the 2005 Plan and the 2020 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 2005 Plan and the 2020 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,
	2024	2023	2022
Expected volatility	30.2% - 31.6%	30.8% - 30.9%	31.1% to 31.9%
Expected dividends	—	—	—
Expected term in years	6.0 to 7.0	6.0 to 7.0	6.0 to 7.0
Risk-free rate	3.6% to 4.1%	2.8% to 2.9%	1.0% to 1.3%
Weighted average grant date fair value of options granted	$23.79	$20.10	$14.87

A summary of option activity under the 2005 Plan and 2020 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, 2021	1,114.9	$	37.92

Granted	234.2	44.74
Exercised	(226.0)	31.15
Forfeited	(13.7)	37.83
Expired	(8.5)	56.63
Outstanding at March 31, 2022	1,100.9	40.62

Granted	197.6	54.48
Exercised	(205.2)	35.93
Forfeited	(10.3)	49.53
Expired	(2.0)	42.63
Outstanding at March 31, 2023	1,081.0	43.96

Granted	131.1	61.81
Exercised	(440.3)	41.08
Forfeited	(41.0)	54.15
Expired	(2.8)	54.47
Outstanding at March 31, 2024	728.0	48.30		6.4	$	17,664
Exercisable at March 31, 2024	434.8	43.56		5.2	$	12,610

The aggregate intrinsic value of options exercised during 2024, 2023 and 2022 was $10.0 million, $5.0 million and $6.0 million, respectively.

Other Accrued Liabilities (Tables)

12 Months Ended

Mar. 31, 2024

Payables and Accruals [Abstract]

Other Accrued Liabilities

Other accrued liabilities consist of the following:


	March 31,
(In thousands)	2024		2023
Accrued marketing costs	$	24,053	$	30,471
Accrued compensation costs	12,221		14,292
Accrued broker commissions	1,309		1,767
Income taxes payable	2,569		10,645
Accrued professional fees	5,046		4,254


Accrued production costs	4,166		5,700



Other accrued liabilities	6,790		5,395
	$	56,154	$	72,524

Inventories (Tables)

12 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:


	March 31,
(In thousands)	2024		2023
Components of Inventories
Packaging and raw materials	$	19,210	$	20,634
Work in process	636		220
Finished goods	118,871		141,267
Inventories	$	138,717	$	162,121

Inventories

12 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:


	March 31,
(In thousands)	2024		2023
Components of Inventories
Packaging and raw materials	$	19,210	$	20,634
Work in process	636		220
Finished goods	118,871		141,267
Inventories	$	138,717	$	162,121

Inventories are carried and depicted above at the lower of cost or net realizable value, which includes a reduction in inventory values of $4.7 million and $5.8 million at March 31, 2024 and 2023, respectively, related to obsolete and slow-moving inventory.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 209,339	$ (82,306)	$ 205,381

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
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-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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+ Details

Stockholders' Equity (Details)	12 Months Ended
Stockholders' Equity (Details)	Mar. 31, 2024 USD ($) vote $ / shares shares	Mar. 31, 2023 $ / shares shares
Stockholders' Equity Note [Abstract]
Common stock, shares authorized \| shares	250,000,000	250,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.01	$ 0.01
Preferred stock, shares authorized \| 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

Employee Retirement Plans (Expected Benefit Payments) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Retirement Benefits [Abstract]
2025 (expectation) to participant benefits	$ 361
2025	361
2026	352
2027	340
2028	327
2029	313
2030-2033	$ 1,352

Derivative Instruments

12 Months Ended

Mar. 31, 2024

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. One swap settled on January 31, 2021 and the other settled on January 31, 2022. We do not use derivatives for trading purposes.

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


(In thousands)	Location	2024		2023		2022
Gain Recognized in Other Comprehensive (Loss) Income (effective portion)	Other comprehensive income (loss)	$	—	$	—	$	1,819
Loss Reclassified from Accumulated Other Comprehensive (Loss) Income into Income	Interest expense, net	$	—	$	—	$	(2,429)

Counterparty Credit Risk:

We managed our exposure to counterparty credit risk by only dealing with counterparties who were substantial international financial institutions with significant experience using such derivative instruments.

Employee Retirement Plans (Amounts Recognized in the Balance Sheet) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Retirement Benefits [Abstract]
Noncurrent asset	$ 0	$ 18
Current liability	361	362
Long-term liability	3,020	3,284
Total liabilities	3,381	3,646
Total net liability	$ (3,381)	$ (3,628)

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Stamford, Connecticut
Auditor Firm ID	238

Income Taxes (Components of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Current
Federal	$ 28,302	$ 33,475	$ 34,446
State	3,662	3,721	3,961
Foreign	11,652	11,959	8,709
Deferred
Federal	20,582	(52,473)	12,055
State	3,034	(8,201)	(1,379)
Foreign	(546)	(90)	(715)
Total provision (benefit) for income taxes	$ 66,686	$ (11,609)	$ 57,077

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Stockholders' Equity

12 Months Ended

Mar. 31, 2024

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, 2024.

During the years ended March 31, 2024 and 2023, we repurchased shares of our common stock and recorded them as treasury stock. Our share repurchases consisted of the following:


	Year Ended March 31,
	2024	2023
Shares repurchased pursuant to the provisions of the various employee restricted stock awards:
Number of shares	88,953	99,522
Average price per share	$61.92	$54.92
Total amount repurchased	$5.5 million	$5.5 million

Shares repurchased in conjunction with our share repurchase program:
Number of shares	426,479	914,236
Average price per share	$58.62	$54.69
Total amount repurchased	$25.0 million	$50.0 million

- Definition

The entire disclosure for equity.

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+ Details

Intangible Assets (Reconciliation of Activity) (Details) $ in Thousands				12 Months Ended
	Jan. 08, 2024 USD ($) supplier	Feb. 28, 2023 USD ($)	Feb. 28, 2022 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning				$ 2,168,902
Indefinite-lived intangibles, ending					$ 2,168,902
Accumulated Amortization
Finite-lived intangibles, accumulated amortization, beginning				238,127	216,098
Finite-lived intangibles, accumulated amortization, additions				19,784	22,266
Finite-lived intangibles, accumulated amortization, effects of foreign currency exchange rates				(74)	(237)
Finite-lived intangibles, accumulated amortization, ending				257,837	238,127
Gross Carrying Amounts
Intangible assets, gross, beginning				2,580,020	2,912,733
Additions	$ 1,100			1,073
Tradename impairment			$ (700)		(321,412)
Effects of foreign currency exchange rates				(2,673)	(11,301)
Intangible assets, gross, ending				2,578,420	2,580,020
Indefinite-lived intangible assets					2,168,902
Finite-lived intangible assets				153,421	172,991
Intangible assets, net				2,320,583	$ 2,341,893
Impairment Of Intangible Asset Finite Lived Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag					Tradename impairment
Impairment Of Intangible Asset Indefinite Lived Excluding Goodwill Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag					Tradename impairment
Number of suppliers acquired \| supplier	1
North American OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning				2,092,852
Indefinite-lived intangibles, ending					$ 2,092,852
Gross Carrying Amounts
Indefinite-lived intangible assets					2,092,852
Finite-lived intangible assets					154,552
Intangible assets, net				2,228,785	2,247,404
International OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning				76,050
Indefinite-lived intangibles, ending					76,050
Gross Carrying Amounts
Indefinite-lived intangible assets					76,050
Finite-lived intangible assets					18,439
Intangible assets, net				91,798	94,489
Finite-Lived Tradenames and Customer Relationships
Gross Carrying Amounts
Finite-lived intangibles, gross, beginning				411,118	436,174
Finite-lived intangibles, additions				680
Finite-lived intangibles, tradename impairment		$ (22,700)			(22,748)
Finite-lived intangibles, effects of foreign currency exchange rates				(540)	(2,308)
Finite-lived intangibles, gross, ending				411,258	411,118
Accumulated Amortization
Finite-lived intangibles, accumulated amortization, beginning				238,127	216,098
Finite-lived intangibles, accumulated amortization, additions				19,784	22,266
Finite-lived intangibles, accumulated amortization, effects of foreign currency exchange rates				(74)	(237)
Finite-lived intangibles, accumulated amortization, ending				257,837	238,127
Gross Carrying Amounts
Finite-lived intangible assets				153,421
Finite-Lived Tradenames and Customer Relationships \| North American OTC Healthcare
Gross Carrying Amounts
Finite-lived intangible assets				135,932
Finite-Lived Tradenames and Customer Relationships \| International OTC Healthcare
Gross Carrying Amounts
Finite-lived intangible assets				17,489
Indefinite- Lived Tradenames
Indefinite- Lived Tradenames
Indefinite-lived intangibles, beginning				2,168,902	2,476,559
Indefinite lived intangibles, additions				393
Impairment of indefinite-lived assets		$ (298,700)			(298,664)
Indefinite-lived intangibles, effects of foreign currency exchange rates				(2,133)	(8,993)
Indefinite-lived intangibles, ending				2,167,162	2,168,902
Gross Carrying Amounts
Indefinite-lived intangible assets				2,167,162	$ 2,168,902
Indefinite- Lived Tradenames \| North American OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, ending				2,092,853
Gross Carrying Amounts
Indefinite-lived intangible assets				2,092,853
Indefinite- Lived Tradenames \| International OTC Healthcare
Indefinite- Lived Tradenames
Indefinite-lived intangibles, ending				74,309
Gross Carrying Amounts
Indefinite-lived intangible assets				$ 74,309

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 16,377	$ 20,205
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	55,501,000	54,857,000
Treasury stock (in shares)	5,680,000	5,165,000

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Mar. 31, 2024	May 10, 2024	Sep. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	001-32433
Entity Registrant Name	PRESTIGE CONSUMER HEALTHCARE INC.
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 2,815.6
Entity Common Stock, Shares Outstanding		49,915,366
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for the 2024 Annual Meeting of Stockholders (the “2024 Proxy Statement”) are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent described herein.
Entity Central Index Key	0001295947
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Business and Basis of Presentation (Revenue Recognition) (Details)	12 Months Ended
	Mar. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Mar. 31, 2024

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

Schedule of Accumulated Other Comprehensive Loss

AOCI consisted of the following at March 31, 2024 and 2023:


	March 31,
(In thousands)	2024		2023
Components of Accumulated Other Comprehensive Loss
Cumulative translation adjustment	$	(35,220)	$	(32,280)

Unrecognized net gain on pension plans, net of tax of $(217) and $(214), respectively	725		716

Accumulated other comprehensive loss, net of tax	$	(34,495)	$	(31,564)

Derivative Instruments (Narrative) (Details) $ in Millions	Jan. 31, 2020 USD ($)
Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 400.0

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Share Repurchase Program On May 6, 2024, the Company's Board of Directors authorized the repurchase of up to $300.0 million of the Company's issued and outstanding common stock. Under the authorization, the Company may purchase common stock utilizing open market transactions, transactions structured through investment banking institutions, in privately-negotiated transactions, by direct purchases of common stock or a combination of the foregoing in compliance with the applicable rules and regulations of the Securities and Exchange Commission. Share Based Compensation On May 7, 2024, the Compensation Committee granted 70,270 PSUs, 59,646 time-based RSUs and stock options to acquire 109,666 shares of our common stock to certain executive officers and employees under the 2020 Plan. PSUs are earned based on achievement of the performance objectives set by the Compensation Committee and, if earned, vest in their entirety on the three-year anniversary of the date of grant. Time-based RSUs vest either 33.3% per year over three years or in their entirety on the three-year or four-year anniversary of the date of grant. Upon vesting, both PSUs and RSUs will be settled in shares of our common stock. Executives of the Company may elect to defer settlement of a self-defined percentage of vested shares to a specified date or six months after the executive is separated from service to the Company or on a change in control of the Company. 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 $69.94 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 PSUs, RSUs and the stock options. Vested stock options will remain exercisable by the employee after termination, subject to the terms of the 2020 Plan.

Business Segments (Tables)

12 Months Ended

Mar. 31, 2024

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, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	958,260	$	167,097	$	1,125,357
Cost of sales	429,361		71,548		500,909
Gross profit	528,899		95,549		624,448
Advertising and marketing	131,494		21,821		153,315
Contribution margin	$	397,405	$	73,728	471,133
Other operating expenses					128,704
Operating income					$	342,429

*Intersegment revenues of $3.7 million were eliminated from the North American OTC Healthcare segment.


	Year Ended March 31, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	973,774	$	153,951	$	1,127,725
Cost of sales	441,844		60,587		502,431
Gross profit	531,930		93,364		625,294
Advertising and marketing	123,926		21,135		145,061
Contribution margin	$	408,004	$	72,229	480,233
Other operating expenses**					502,648
Operating loss					$	(22,415)

* Intersegment revenues of $4.3 million were eliminated from the North American OTC Healthcare segment.

**Other operating expenses for the year ended March 31, 2023 includes a tradename impairment charge of $321.4 million and a goodwill impairment charge of $48.8 million.


	Year Ended March 31, 2022
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	967,881	$	118,931	$	1,086,812
Cost of sales	419,162		47,004		466,166
Gross profit	548,719		71,927		620,646
Advertising and marketing	138,714		18,629		157,343
Contribution margin	$	410,005	$	53,298	463,303
Other operating expenses					133,384
Operating income					$	329,919

*Intersegment revenues of $3.0 million were eliminated from the North American OTC Healthcare segment.

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, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	111,996	$	5,455	$	117,451
Cough & Cold	93,575		25,445		119,020
Women's Health	217,103		23,318		240,421
Gastrointestinal	160,889		70,721		231,610
Eye & Ear Care	156,553		22,870		179,423
Dermatologicals	123,288		5,814		129,102
Oral Care	83,212		13,093		96,305
Other OTC	11,644		381		12,025

Total segment revenues	$	958,260	$	167,097	$	1,125,357


	Year Ended March 31, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	116,582	$	2,680	$	119,262
Cough & Cold	100,218		26,770		126,988
Women's Health	231,754		19,597		251,351
Gastrointestinal	156,957		69,626		226,583
Eye & Ear Care	151,879		19,197		171,076
Dermatologicals	119,822		3,919		123,741
Oral Care	85,542		12,085		97,627
Other OTC	11,020		77		11,097

Total segment revenues	$	973,774	$	153,951	$	1,127,725


	Year Ended March 31, 2022
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	117,868	$	1,455	$	119,323
Cough & Cold	86,855		20,225		107,080
Women's Health	249,136		15,373		264,509
Gastrointestinal	152,191		52,368		204,559
Eye & Ear Care	149,454		13,995		163,449
Dermatologicals	117,173		3,213		120,386
Oral Care	85,239		12,282		97,521
Other OTC	9,965		20		9,985

Total segment revenues	$	967,881	$	118,931	$	1,086,812

Segment Revenue by Geographic Area

Our total segment revenues by geographic area are as follows:


	Year Ended March 31,
	2024		2023		2022
United States	$	886,470	$	953,222	$	910,106
Rest of world	238,887		174,503		176,706
Total	$	1,125,357	$	1,127,725	$	1,086,812

Allocation of Long-Term Assets to Segments

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


March 31, 2024 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	498,936	$	28,797	$	527,733

Intangible assets
Indefinite-lived	2,092,853		74,309		2,167,162
Finite-lived	135,932		17,489		153,421
Intangible assets, net	2,228,785		91,798		2,320,583
Total	$	2,727,721	$	120,595	$	2,848,316


March 31, 2023 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	498,936	$	28,617	$	527,553

Intangible assets
Indefinite-lived	2,092,852		76,050		2,168,902
Finite-lived	154,552		18,439		172,991
Intangible assets, net	2,247,404		94,489		2,341,893
Total	$	2,746,340	$	123,106	$	2,869,446

Goodwill and Intangible Assets by Geographic Areas

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


	Year Ended March 31,
	2024		2023
United States	$	2,727,721	$	2,746,340
Rest of world	120,595		123,106
Total	$	2,848,316	$	2,869,446

Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation

The following table provides information regarding our stock-based compensation:


	March 31,
(In thousands)	2024		2023		2022
Pre-tax share-based compensation costs charged against income	$	14,010	$	12,405	$	9,039
Income tax benefit recognized on compensation costs	$	1,190	$	1,138	$	633
Total fair value of options and RSUs vested during the period	$	12,213	$	10,352	$	7,943
Cash received from the exercise of stock options	$	18,089	$	7,372	$	7,040
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises	$	2,161	$	1,500	$	3,419

Summary of Restricted Shares

A summary of the Company’s RSUs granted under the 2005 Plan and 2020 Plan is presented below:


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

Unvested at March 31, 2021	457.0	$	33.52

Granted	170.8	45.32
Vested	(162.3)	32.99
Forfeited	(24.6)	30.54
Unvested at March 31, 2022	440.9	38.45
Vested at March 31, 2022	106.8	36.42

Granted	151.0	55.03
Incremental performance shares	42.4	—
Vested	(223.4)	32.09
Forfeited	(1.9)	49.51
Unvested at March 31, 2023	409.0	47.17
Vested at March 31, 2023	108.5	36.54

Granted	157.1	62.06
Incremental performance shares	41.4	—
Vested	(205.0)	43.17
Forfeited	(10.6)	52.68
Unvested at March 31, 2024	391.9	54.43
Vested at March 31, 2024	110.2	38.77

Stock Options, Valuation Assumptions


	Year Ended March 31,
	2024	2023	2022
Expected volatility	30.2% - 31.6%	30.8% - 30.9%	31.1% to 31.9%
Expected dividends	—	—	—
Expected term in years	6.0 to 7.0	6.0 to 7.0	6.0 to 7.0
Risk-free rate	3.6% to 4.1%	2.8% to 2.9%	1.0% to 1.3%
Weighted average grant date fair value of options granted	$23.79	$20.10	$14.87

Stock Option Activity

A summary of option activity under the 2005 Plan and 2020 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, 2021	1,114.9	$	37.92

Granted	234.2	44.74
Exercised	(226.0)	31.15
Forfeited	(13.7)	37.83
Expired	(8.5)	56.63
Outstanding at March 31, 2022	1,100.9	40.62

Granted	197.6	54.48
Exercised	(205.2)	35.93
Forfeited	(10.3)	49.53
Expired	(2.0)	42.63
Outstanding at March 31, 2023	1,081.0	43.96

Granted	131.1	61.81
Exercised	(440.3)	41.08
Forfeited	(41.0)	54.15
Expired	(2.8)	54.47
Outstanding at March 31, 2024	728.0	48.30		6.4	$	17,664
Exercisable at March 31, 2024	434.8	43.56		5.2	$	12,610

Fair Value Measurements

12 Months Ended

Mar. 31, 2024

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.


	March 31, 2024				March 31, 2023
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value



2019 Senior Notes	$	400,000	$	389,000	$	400,000	$	383,500
2021 Senior Notes	600,000		522,750		600,000		510,750

2012 Term B-5 Loans	135,000		135,506		360,000		359,550

At March 31, 2024 and 2023, we did not have any assets or liabilities measured in Level 1 or 3. During 2024, 2023 and 2022, 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

Income Taxes

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

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


	Year Ended March 31,
(In thousands)	2024		2023		2022
United States	$	239,405	$	(130,331)	$	236,381
Foreign	36,620		36,416		26,077

Total income (loss) before income taxes	$	276,025	$	(93,915)	$	262,458

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


	Year Ended March 31,
(In thousands)	2024		2023		2022
Current
Federal	$	28,302	$	33,475	$	34,446
State	3,662		3,721		3,961
Foreign	11,652		11,959		8,709
Deferred
Federal	20,582		(52,473)		12,055
State	3,034		(8,201)		(1,379)
Foreign	(546)		(90)		(715)
Total provision (benefit) for income taxes	$	66,686	$	(11,609)	$	57,077

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


	March 31,
(In thousands)	2024		2023
Deferred Tax Assets
Allowance for credit losses and sales returns	$	4,070	$	4,882
Inventory capitalization	1,685		2,508
Inventory reserves	1,353		1,707

State income taxes	8,246		7,440
Accrued liabilities	1,431		1,616
Accrued compensation	3,230		3,757
Stock compensation	3,580		4,613
Research and development	4,179		1,429

Lease liability	2,604		4,795
Unrealized foreign exchange loss	204		673
Other	10,319		9,450
Total deferred tax assets	$	40,901	$	42,870

Deferred Tax Liabilities
Property, plant and equipment	$	(9,403)	$	(6,874)
Intangible assets	(430,308)		(410,219)

Right-of-use asset	(2,371)		(4,300)
Total deferred tax liabilities	$	(442,082)	$	(421,393)



Net deferred tax liability	$	(401,181)	$	(378,523)

The total net deferred tax liability shown above is net of $2.4 million and $1.9 million of deferred tax assets which are included in Other long-term assets on the Consolidated Balance Sheets as of March 31, 2024 and 2023, respectively.

We had no valuation allowance as of March 31, 2024 and March 31, 2023.

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


	Year Ended March 31,
	2024			2023			2022
(In thousands)			%			%			%
Income tax provision (benefit) at statutory rate	$	57,965	21.0	$	(19,722)	21.0	$	55,116	21.0
Foreign tax provision	3,164		1.1	4,168		(4.4)	2,876		1.1
State income taxes provision (benefit), net of federal income tax benefit	6,004		2.2	(5,300)		5.6	1,737		0.7


Goodwill impairment	—		—	10,232		(10.9)	—		—
Research and development	(700)		(0.3)	(514)		0.5	(213)		(0.1)
Compensation limitations	1,910		0.7	1,483		(1.6)	1,563		0.6

Foreign tax credit	(889)		(0.3)	(1,297)		1.4	—		—

Uncertain tax positions	390		0.1	(91)		0.1	(369)		(0.1)
Other	(1,158)		(0.3)	(568)		0.7	(3,633)		(1.5)
Total provision (benefit) for income taxes	$	66,686	24.2	$	(11,609)	12.4	$	57,077	21.7

Uncertain tax liability activity is as follows:


	2024		2023		2022
(In thousands)
Balance – beginning of year	$	3,295	$	3,562	$	4,030

Reductions based on lapse of statute of limitations	(417)		(495)		(585)
Payments and other movements	447		228		117
Balance – end of year	$	3,325	$	3,295	$	3,562

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 2024, 2023 or 2022. We reasonably anticipate that uncertain tax positions could decrease in the next year by approximately $2.6 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, 2020 forward.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Business and Basis of Presentation (Policies)

12 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Accounts Receivable

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			5 to 40
Machinery			3 to 15
Computer equipment and software			3 to 5
Furniture and fixtures			7 to 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

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

Revenue Recognition

Nature of Goods and Services

See Note 20 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

Advertising and Marketing Costs

Advertising and marketing 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

Recently Issued Accounting Pronouncements

Leases (Additional Information) (Details)	Mar. 31, 2024
Weighted average remaining lease term (years)
Weighted average remaining lease term (years), operating leases	4 years 1 month 17 days
Weighted average remaining lease term (years), financing leases	10 months 13 days
Weighted average discount rate
Weighted average discount rate, operating leases	4.48%
Weighted average discount rate, financing leases	2.92%

Leases (Lease Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Lease Cost) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Amortization of right-of-use assets	$ 2,658	$ 2,658
Interest on lease liabilities	88	170
Operating lease cost	6,564	6,495
Short term lease cost	132	153
Variable lease cost	61,069	59,735
Total net lease cost	$ 70,511	$ 69,211

Business and Basis of Presentation (Property, Plant and Equipment) (Details)	Mar. 31, 2024
Building \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 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

Share-Based Compensation (Stock Option Valuation Assumptions) (Details) - Stock Options - USD ($)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividends	$ 0	$ 0	$ 0
Weighted-average grant date fair value of options granted (in USD per share)	$ 23.79	$ 20.10	$ 14.87
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30.20%	30.80%	31.10%
Expected term in years	6 years	6 years	6 years
Risk-free rate	3.60%	2.80%	1.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	31.60%	30.90%	31.90%
Expected term in years	7 years	7 years	7 years
Risk-free rate	4.10%	2.90%	1.30%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Paragraph 3
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Segments (Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues	$ 1,125,357	$ 1,127,725	$ 1,086,812
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues	886,470	953,222	910,106
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues	$ 238,887	$ 174,503	$ 176,706

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Business Segments

12 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Business Segments

Segment information has been prepared in accordance with the Segment Reporting topic of FASB ASC 280. Our reportable segments consist of (i) North American OTC Healthcare and (ii) International OTC Healthcare. 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 marketing expenses.

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


	Year Ended March 31, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	958,260	$	167,097	$	1,125,357
Cost of sales	429,361		71,548		500,909
Gross profit	528,899		95,549		624,448
Advertising and marketing	131,494		21,821		153,315
Contribution margin	$	397,405	$	73,728	471,133
Other operating expenses					128,704
Operating income					$	342,429

*Intersegment revenues of $3.7 million were eliminated from the North American OTC Healthcare segment.


	Year Ended March 31, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	973,774	$	153,951	$	1,127,725
Cost of sales	441,844		60,587		502,431
Gross profit	531,930		93,364		625,294
Advertising and marketing	123,926		21,135		145,061
Contribution margin	$	408,004	$	72,229	480,233
Other operating expenses**					502,648
Operating loss					$	(22,415)

* Intersegment revenues of $4.3 million were eliminated from the North American OTC Healthcare segment.

**Other operating expenses for the year ended March 31, 2023 includes a tradename impairment charge of $321.4 million and a goodwill impairment charge of $48.8 million.


	Year Ended March 31, 2022
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	967,881	$	118,931	$	1,086,812
Cost of sales	419,162		47,004		466,166
Gross profit	548,719		71,927		620,646
Advertising and marketing	138,714		18,629		157,343
Contribution margin	$	410,005	$	53,298	463,303
Other operating expenses					133,384
Operating income					$	329,919

*Intersegment revenues of $3.0 million were eliminated from the North American OTC Healthcare segment.

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


	Year Ended March 31, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	111,996	$	5,455	$	117,451
Cough & Cold	93,575		25,445		119,020
Women's Health	217,103		23,318		240,421
Gastrointestinal	160,889		70,721		231,610
Eye & Ear Care	156,553		22,870		179,423
Dermatologicals	123,288		5,814		129,102
Oral Care	83,212		13,093		96,305
Other OTC	11,644		381		12,025

Total segment revenues	$	958,260	$	167,097	$	1,125,357


	Year Ended March 31, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	116,582	$	2,680	$	119,262
Cough & Cold	100,218		26,770		126,988
Women's Health	231,754		19,597		251,351
Gastrointestinal	156,957		69,626		226,583
Eye & Ear Care	151,879		19,197		171,076
Dermatologicals	119,822		3,919		123,741
Oral Care	85,542		12,085		97,627
Other OTC	11,020		77		11,097

Total segment revenues	$	973,774	$	153,951	$	1,127,725


	Year Ended March 31, 2022
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	117,868	$	1,455	$	119,323
Cough & Cold	86,855		20,225		107,080
Women's Health	249,136		15,373		264,509
Gastrointestinal	152,191		52,368		204,559
Eye & Ear Care	149,454		13,995		163,449
Dermatologicals	117,173		3,213		120,386
Oral Care	85,239		12,282		97,521
Other OTC	9,965		20		9,985

Total segment revenues	$	967,881	$	118,931	$	1,086,812

Our total segment revenues by geographic area are as follows:


	Year Ended March 31,
	2024		2023		2022
United States	$	886,470	$	953,222	$	910,106
Rest of world	238,887		174,503		176,706
Total	$	1,125,357	$	1,127,725	$	1,086,812

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


March 31, 2024 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	498,936	$	28,797	$	527,733

Intangible assets
Indefinite-lived	2,092,853		74,309		2,167,162
Finite-lived	135,932		17,489		153,421
Intangible assets, net	2,228,785		91,798		2,320,583
Total	$	2,727,721	$	120,595	$	2,848,316


March 31, 2023 (In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Goodwill	$	498,936	$	28,617	$	527,553

Intangible assets
Indefinite-lived	2,092,852		76,050		2,168,902
Finite-lived	154,552		18,439		172,991
Intangible assets, net	2,247,404		94,489		2,341,893
Total	$	2,746,340	$	123,106	$	2,869,446

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


	Year Ended March 31,
	2024		2023
United States	$	2,727,721	$	2,746,340
Rest of world	120,595		123,106
Total	$	2,848,316	$	2,869,446

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Business and Basis of Presentation (Intangible Assets) (Details)	Mar. 31, 2024
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	10 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	24 years

Share-Based Compensation (Narrative) (Details) $ in Millions		1 Months Ended	12 Months Ended
	May 31, 2014 shares	Jun. 30, 2014 shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 USD ($) shares	Jun. 23, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares awarded, per employee, annual (in shares)	1,000,000	2,500,000
Extension of plan term		10 years
Share-based compensation expense, not yet recognized \| $			$ 2.7
Share-based compensation expense, not yet recognized, period for recognition			1 year 7 months 6 days
Number of shares available for issuance under plan (in shares)			1,900,000
Options granted (in shares)			131,100	197,600	234,200
Options exercised, intrinsic value \| $			$ 10.0	$ 5.0	$ 6.0
Restricted Stock Units (RSUs) & Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense, not yet recognized \| $			$ 9.3
Share-based compensation expense, not yet recognized, period for recognition			1 year 8 months 12 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock units granted in period (in shares)			157,100	151,000.0	170,800
Award vesting period			3 years
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]
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
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
Number of additional shares authorized under plan (in shares)		1,800,000
2020 Long-term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)						2,827,210
Number of new shares for future issuance under 2020 Long-Term Incentive Plans (in shares)						2,000,000
Number of unissued shares reserved for 2020 Long-Term Incentive Plans (in shares)						827,210

Goodwill (Schedule of Changes) (Details) $ in Thousands				12 Months Ended
Goodwill (Schedule of Changes) (Details) $ in Thousands	Jan. 08, 2024 USD ($) supplier	Feb. 28, 2023 USD ($)	Feb. 28, 2022 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning				$ 741,656	$ 744,274
Accumulated impairment loss, beginning				(214,103)	(165,298)
Goodwill, net, beginning				527,553	578,976
Adjustment related to acquisition					(550)
Effects of foreign currency exchange rates				(441)	(2,068)
Impairment loss		$ (48,800)			(48,805)
Additions	$ 600			621
Goodwill, gross, ending				741,836	741,656
Accumulated impairment loss, ending				(214,103)	(214,103)
Goodwill, net, ending				527,733	527,553
Number of suppliers acquired \| supplier	1
North American OTC Healthcare
Goodwill [Roll Forward]
Goodwill, gross, beginning				711,452	712,002
Accumulated impairment loss, beginning				(212,516)	(163,711)
Goodwill, net, beginning				498,936	548,291
Adjustment related to acquisition					(550)
Effects of foreign currency exchange rates				0	0
Impairment loss					(48,805)
Additions				0
Goodwill, gross, ending				711,452	711,452
Accumulated impairment loss, ending				(212,516)	(212,516)
Goodwill, net, ending				498,936	498,936
International OTC Healthcare
Goodwill [Roll Forward]
Goodwill, gross, beginning				30,204	32,272
Accumulated impairment loss, beginning				(1,587)	(1,587)
Goodwill, net, beginning				28,617	30,685
Adjustment related to acquisition					0
Effects of foreign currency exchange rates				(441)	(2,068)
Impairment loss			$ (300)		0
Additions				621
Goodwill, gross, ending				30,384	30,204
Accumulated impairment loss, ending				(1,587)	(1,587)
Goodwill, net, ending				$ 28,797	$ 28,617

Share-Based Compensation (Stock Based Compensation Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Pre-tax share-based compensation costs charged against income	$ 14,010	$ 12,405	$ 9,039
Income tax benefit recognized on compensation costs	1,190	1,138	633
Total fair value of options and RSUs vested during the period	12,213	10,352	7,943
Cash received from the exercise of stock options	18,089	7,372	7,040
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises	$ 2,161	$ 1,500	$ 3,419

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Components of Property, Plant and Equipment
Property, plant and equipment, gross	$ 148,867	$ 137,407
Accumulated depreciation	(72,360)	(66,995)
Property, plant and equipment, net	76,507	70,412
Depreciation expense	8,200	7,700	$ 8,000
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	31,009	30,447
Machinery
Components of Property, Plant and Equipment
Property, plant and equipment, gross	70,873	50,639
Computer equipment
Components of Property, Plant and Equipment
Property, plant and equipment, gross	30,173	26,413
Furniture and fixtures
Components of Property, Plant and Equipment
Property, plant and equipment, gross	3,294	3,229
Leasehold improvements
Components of Property, Plant and Equipment
Property, plant and equipment, gross	10,555	9,040
Construction in progress
Components of Property, Plant and Equipment
Property, plant and equipment, gross	$ 2,413	$ 17,089

Long-Term Debt

12 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-Term Debt

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


(In thousands, except percentages)	March 31, 2024		March 31, 2023

2021 Senior Notes bearing interest at 3.750%, with interest payable on April 1 and October 1 of each year. The 2021 Senior Notes mature on April 1, 2031.	$	600,000	$	600,000


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		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 0.50%, or an alternate base rate plus a margin of 1.00% per annum (at March 31, 2023) and SOFR plus a margin of 2.00% plus a credit spread adjustment (at March 31, 2024), due on July 1, 2028.	135,000		360,000




Long-term debt	1,135,000		1,360,000
Less: unamortized debt costs	(9,196)		(14,212)
Long-term debt, net	$	1,125,804	$	1,345,788

At March 31, 2024, we had no balance outstanding on the 2012 ABL Revolver and a borrowing capacity of $171.0 million.

2012 Term Loan and 2012 ABL Revolver:

On January 31, 2012, Prestige Brands, Inc. (the “Borrower") entered into a senior secured credit facility, which originally consisted of (i) the $660.0 million 2012 Term Loan with a 7-year maturity and (ii) the $50.0 million 2012 ABL Revolver with a 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 to the current amount of $200.0 million and reduced our borrowing rate on the 2012 ABL Revolver. We have also amended the 2012 Term Loan several times. 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 March 21, 2018, we entered into Amendment No. 5 (“Term Loan Amendment No. 5”) to the 2012 Term Loan. Term Loan Amendment No. 5 provided for the creation of Term B-5 Loans (the "Term B-5 Loans") by repricing the then-existing term loans to an interest rate that was 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 July 1, 2021, we entered into Amendment No. 6 ("Term Loan Amendment No. 6"), to the 2012 Term Loan. Term Loan Amendment No. 6 provides for (i) the refinancing of our outstanding term loans and the creation of a new class of Term B-5 Loans in an aggregate principal amount of $600.0 million, (ii) increased flexibility under the credit agreement governing the 2012 Term Loan and the 2012 ABL Revolver, and (iii) an interest rate on the Term B-5 Loans that is based, at our option, on a LIBOR rate plus a margin of 2.00% per annum, with a LIBOR floor of 0.50%, or an alternative base rate plus a margin of 1.00% per annum. In addition, Term Loan Amendment No. 6 provides for an extension of the maturity date of the 2012 Term Loan to July 1, 2028. In connection with this refinancing, we recorded a loss on extinguishment of debt of $2.1 million to write off a portion of new and old debt costs relating to this refinancing. Under Term Loan Amendment No. 6, we are required to make quarterly payments each equal to 0.25% of the aggregate principal amount of the 2012 Term Loan.

The net proceeds from the new class of Term B-5 Loans were used to refinance our outstanding term loans, finance the acquisition of Akorn and pay fees and expenses incurred in connection with these transactions.

On December 11, 2019, we entered into Amendment No. 7 ("ABL Amendment No. 7"), to the 2012 ABL Revolver. ABL Amendment No. 7 provided for (i) an extension of the maturity date of the 2012 ABL Revolver to December 11, 2024, which was five years from the effective date of ABL Amendment No. 7, (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 was 1.00% with respect to LIBOR borrowings and 0.0% with respect to base-rate borrowings (which could 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.

On April 4, 2023, we entered into ABL Amendment No. 8. ABL Amendment No. 8 provides for the replacement of LIBOR with SOFR as our reference rate for the 2012 ABL Revolver.

On June 12, 2023, we entered into Term Loan Amendment No. 7, effective July 1, 2023. Term Loan Amendment No. 7 provides for the replacement of LIBOR with SOFR as our reference rate for the 2012 Term Loan.

On December 8, 2023, we entered into Amendment No. 9 ("ABL Amendment No. 9") to the 2012 ABL Revolver. ABL Amendment No. 9 provides for (i) an increase in the aggregate revolving commitment of the facility from $175.0 million to $200.0 million, (ii) an extension of the maturity date of the 2012 ABL Revolver to December 8, 2028, and (iii) increased flexibility under the credit agreement governing the 2012 ABL Revolver, including increased flexibility related to restricted payments, debt incurrence and borrowing base calculations. There were no changes to interest terms as a result of this amendment.

2019 Senior Notes:

On December 2, 2019, the Borrower issued $400.0 million aggregate principal amount of 5.125% senior notes due January 15, 2028 (the "2019 Senior Notes") pursuant to an indenture dated December 2, 2019, among the Borrower, the guarantors party thereto (including the Company) and U.S. Bank National Association, as trustee. We used the net proceeds from the 2019 Senior Notes, together with cash on hand, to redeem all $400.0 million of our then-outstanding senior notes issued on December 17, 2013 that were due in 2021, and to pay related fees and expenses.

2021 Senior Notes:

On March 1, 2021, the Borrower issued $600.0 million aggregate principal amount of 3.750% senior notes due April 1, 2031 (the "2021 Senior Notes") pursuant to an indenture dated March 1, 2021, among the Borrower, the guarantors party thereto (including the Company), and U.S. Bank National Association, as trustee. We used the net proceeds from the 2021 Senior Notes to redeem all $600.0 million of our then-outstanding 2016 Senior Notes, which were due in 2024, and to pay related fees and expenses.

Interest, Redemptions and Restrictions:

For the year ended March 31, 2024, the average interest rate on the 2012 Term Loan was 7.3%. There were no borrowings under the 2012 ABL Revolver at any time during 2024. For the year ended March 31, 2023, the average interest rate on the 2012 Term Loan was 4.8% and the average interest rate on the amounts borrowed under the 2012 ABL Revolver was 2.5%. We also had amortization related to our long-term debt of $5.2 million and $4.4 million for 2024 and 2023, respectively. Since we have made optional payments that exceed all of our required quarterly payments, we will not be required to make another payment on the 2012 Term Loan until maturity on July 1, 2028.

We have the option to redeem all or a portion of the 2019 Senior Notes at any time on or after January 15, 2023 at the redemption prices set forth in the indenture governing the 2019 Senior Notes, plus accrued and unpaid interest, if any. Subject to certain limitations, in the event of a change of control (as defined in the indenture governing the 2019 Senior Notes), the Borrower will be required to make an offer to purchase the 2019 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.

We have the option to redeem all or a portion of the 2021 Senior Notes at any time on or after April 1, 2026 at the redemption prices set forth in the indenture governing the 2021 Senior Notes, plus accrued and unpaid interest, if any. Subject to certain limitations, in the event of a change of control (as defined in the indenture governing the 2021 Senior Notes), the Borrower will be required to make an offer to purchase the 2021 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 credit agreement governing the 2012 Term Loan and the 2012 ABL Revolver and the indentures governing the 2021 Senior Notes and the 2019 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 2021 Senior Notes and the 2019 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 2021 Senior Notes and the 2019 Senior Notes. At March 31, 2024, 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. One swap settled on January 31, 2021 and the other settled on January 31, 2022 (see Note 12 for further details).


(In thousands)
Year Ending March 31,	Amount
2025	$	—
2026	—
2027	—
2028	400,000
2029	135,000
Thereafter	600,000
	$	1,135,000

Accounts Receivable (Tables)

12 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Accounts Receivable

Accounts receivable consist of the following:


	March 31,
(In thousands)	2024		2023
Components of Accounts Receivable
Trade accounts receivable	$	185,027	$	183,372
Short-term loan receivable	5,938		3,800
Other receivables	2,187		49
	193,152		187,221
Less allowances for discounts, returns and uncollectible accounts	(16,377)		(20,205)
Accounts receivable, net	$	176,775	$	167,016

Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Revenues
Total revenues	$ 1,125,357	$ 1,127,725	$ 1,086,812
Cost of Sales
Cost of sales excluding depreciation	492,786	494,883	458,942
Cost of sales depreciation	8,123	7,548	7,224
Cost of sales	500,909	502,431	466,166
Gross profit	624,448	625,294	620,646
Operating Expenses
Advertising and marketing	153,315	145,061	157,343
General and administrative	106,152	107,354	107,459
Depreciation and amortization	22,552	25,077	24,868
Goodwill and tradename impairment	0	370,217	1,057
Total operating expenses	282,019	647,709	290,727
Operating income (loss)	342,429	(22,415)	329,919
Other expense (income)
Interest expense, net	67,160	69,164	64,287
Loss on extinguishment of debt	0	0	2,122
Other (income) expense, net	(756)	2,336	1,052
Total other expense, net	66,404	71,500	67,461
Income (loss) before income taxes	276,025	(93,915)	262,458
Provision (benefit) for income taxes	66,686	(11,609)	57,077
Net income (loss)	$ 209,339	$ (82,306)	$ 205,381
Earnings (loss) per share:
Basic (in USD per share)	$ 4.21	$ (1.65)	$ 4.09
Diluted (in USD per share)	$ 4.17	$ (1.65)	$ 4.04
Weighted average shares outstanding:
Basic (in shares)	49,757	49,889	50,259
Diluted (in shares)	50,178	49,889	50,842
Comprehensive income (loss), net of tax:
Currency translation adjustments	$ (2,940)	$ (12,076)	$ (1,296)
Unrealized gain on interest rate swaps	0	0	1,819
Unrecognized net gain on pension plans	9	334	246
Net loss on termination of pension plan	0	(790)	0
Total other comprehensive (loss) income	(2,931)	(12,532)	769
Comprehensive income (loss)	206,408	(94,838)	206,150
Net sales
Revenues
Total revenues	1,125,046	1,127,618	1,086,770
Other revenues
Revenues
Total revenues	$ 311	$ 107	$ 42

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Operating Activities
Net income (loss)	$ 209,339	$ (82,306)	$ 205,381
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	30,675	32,625	32,092
Loss on sale or disposal of property and equipment	274	273	271
Deferred income taxes	23,070	(60,765)	9,979
Amortization of debt origination costs	5,240	4,364	4,230
Stock-based compensation costs	14,010	12,405	9,039
Loss on extinguishment of debt	0	0	2,122
Non-cash operating lease cost	6,149	6,311	6,706
Impairment loss	0	370,217	1,057
Other	0	447	(9)
Changes in operating assets and liabilities, net of effects from acquisition:
Accounts receivable	(6,322)	(24,927)	(24,654)
Inventories	24,439	(42,225)	663
Prepaid expenses and other current assets	(8,214)	2,259	1,448
Accounts payable	(24,971)	7,258	9,154
Accrued liabilities	(16,217)	10,742	9,616
Operating lease liabilities	(7,134)	(6,687)	(6,448)
Other	(1,412)	(275)	(725)
Net cash provided by operating activities	248,926	229,716	259,922
Investing Activities
Purchases of property, plant and equipment	(9,550)	(7,784)	(9,642)
Acquisitions and other	(10,561)	(3,800)	(246,869)
Net cash used in investing activities	(20,111)	(11,584)	(256,511)
Financing Activities
Term Loan repayments	(225,000)	(135,000)	(600,000)
Proceeds from refinancing of Term Loan	0	0	597,000
Borrowings under revolving credit agreement	0	20,000	85,000
Repayments under revolving credit agreement	0	(20,000)	(85,000)
Payment of debt costs	(769)	0	(6,111)
Payments of finance leases	(2,827)	(2,752)	(2,582)
Proceeds from exercise of stock options	18,089	7,372	7,040
Fair value of shares surrendered as payment of tax withholding	(5,508)	(5,466)	(2,916)
Repurchase of common stock	(25,000)	(50,000)	0
Net cash used in financing activities	(241,015)	(185,846)	(7,569)
Effects of exchange rate changes on cash and cash equivalents	180	(982)	(959)
(Decrease) increase in cash and cash equivalents	(12,020)	31,304	(5,117)
Cash and cash equivalents - beginning of year	58,489	27,185	32,302
Cash and cash equivalents - end of year	46,469	58,489	27,185
Interest paid	63,248	54,243	61,364
Income taxes paid	$ 59,637	$ 40,739	$ 46,568

Other Accrued Liabilities

12 Months Ended

Mar. 31, 2024

Payables and Accruals [Abstract]

Other Accrued Liabilities

Other accrued liabilities consist of the following:


	March 31,
(In thousands)	2024		2023
Accrued marketing costs	$	24,053	$	30,471
Accrued compensation costs	12,221		14,292
Accrued broker commissions	1,309		1,767
Income taxes payable	2,569		10,645
Accrued professional fees	5,046		4,254


Accrued production costs	4,166		5,700



Other accrued liabilities	6,790		5,395
	$	56,154	$	72,524

Long-Term Debt (Narrative 2012 Term Loan and 2012 ABL Revolver) (Details)					12 Months Ended
	Jul. 01, 2021 USD ($)	Dec. 11, 2019	Mar. 21, 2018	Jan. 31, 2012 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 08, 2023 USD ($)	Dec. 07, 2023 USD ($)
Debt Instrument [Line Items]
Long-term debt					$ 1,135,000,000	$ 1,360,000,000
Loss on extinguishment of debt					0	$ 0	$ 2,122,000
Debt instrument, period payment, percentage of principal amount	0.0025
Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600,000,000
Secured Debt \| Base Rate
Debt Instrument [Line Items]
Alternative basis spread on variable rate	0.0100
Secured Debt \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	2.00%
Secured Debt \| LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as percent)	0.50%
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 \| 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 \| 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 \| 2012 ABL Revolver
Debt Instrument [Line Items]
Long-term debt					0
Borrowing capacity					171,000,000
Debt instrument, term				5 years
Line of credit facility, maximum borrowing capacity				$ 50,000,000	$ 200,000,000			$ 200,000,000	$ 175,000,000
Debt instrument, average interest rate (as percent)						2.50%
2012 Term Loan \| Term Loans
Debt Instrument [Line Items]
Debt instrument, face amount				$ 660,000,000
Debt instrument, term				7 years
Debt instrument, average interest rate (as percent)					7.30%	4.80%
2013 Senior Notes
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 2,100,000
Loans Payable, Term B-5 Amendment No. 5 \| Term Loans
Debt Instrument [Line Items]
Long-term debt					$ 135,000,000	$ 360,000,000
Loans Payable, Term B-5 Amendment No. 5 \| Term 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%
Loans Payable, Term B-5 Amendment No. 5 \| Term 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%

Employee Retirement Plans (Weighted Average Assumptions) (Details)		12 Months Ended
	Apr. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.98%	4.88%	4.47%
Expected return on plan assets, net of administrative fees	2.75%	0.00%	2.75%	2.25%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate			3.26%	2.58%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate			3.48%	2.95%

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands				12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 28, 2022	Mar. 31, 2024	Mar. 31, 2023
Schedule of Intangible Assets [Line Items]
Impairment of intangible assets			$ 700		$ 321,412
Additional impairment that would be recorded as a result of increase in basis points	$ 3,200
Finite-lived intangible assets, weighted average remaining period				7 years 8 months 12 days
Amortization of intangible assets				$ 19,784	22,266
Finite-Lived Tradenames and Customer Relationships
Schedule of Intangible Assets [Line Items]
Intangible assets, tradename impairment		$ 22,700			22,748
Amortization of intangible assets				$ 19,784	22,266
Indefinite- Lived Tradenames
Schedule of Intangible Assets [Line Items]
Impairment of indefinite-lived assets		$ 298,700			$ 298,664
Measurement Input, Long-term Revenue Growth Rate
Schedule of Intangible Assets [Line Items]
Indefinite-lived intangible asset, increase (decrease) in measurement input	10.00%
Measurement Input, Cap Rate
Schedule of Intangible Assets [Line Items]
Indefinite-lived intangible asset, increase (decrease) in measurement input	0.50%
Sensitivity analysis, increase In intangible asset measurement input that would not have resulted In fair value exceeding carrying value	0.50%
Minimum
Schedule of Intangible Assets [Line Items]
Intangible assets, useful lives				10 years
Maximum
Schedule of Intangible Assets [Line Items]
Intangible assets, useful lives				24 years

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Carrying value \| Senior Notes \| 2019 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	$ 400,000	$ 400,000
Carrying value \| Senior Notes \| 2021 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	600,000	600,000
Carrying value \| Term Loans \| 2012 Term B-5 Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	135,000	360,000
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	389,000	383,500
Fair value \| Fair Value, Inputs, Level 2 \| Senior Notes \| 2021 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	522,750	510,750
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	$ 135,506	$ 359,550

Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 31, 2024

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			5 to 40
Machinery			3 to 15
Computer equipment and software			3 to 5
Furniture and fixtures			7 to 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)	2024		2023
Components of Property, Plant and Equipment
Land	$	550	$	550
Building	31,009		30,447
Machinery	70,873		50,639
Computer equipment	30,173		26,413
Furniture and fixtures	3,294		3,229
Leasehold improvements	10,555		9,040
Construction in progress	2,413		17,089
	148,867		137,407
Accumulated depreciation	(72,360)		(66,995)
Property, plant and equipment, net	$	76,507	$	70,412