0001295947-24-000025 | 10-Q | XBRL Viewer | Prestige Consumer Healthcare INC

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisted of the following at June 30, 2024 and March 31, 2024:


(In thousands)	June 30, 2024		March 31, 2024
Components of Accumulated Other Comprehensive Loss
Cumulative translation adjustment	$	(32,060)	$	(35,220)

Unrecognized net gain on pension plans, net of tax of $(217) and $(217), respectively	725		725
Accumulated other comprehensive loss, net of tax	$	(31,335)	$	(34,495)

Stock-Based Compensation

3 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-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, restricted stock units ("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, among other changes.

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). Since the 2020 Plan became effective, all equity awards have been made from the 2020 Plan, and the Company will not grant any additional awards under the 2005 Plan.

At June 30, 2024, there were 1.6 million shares available for issuance under the 2020 Plan.

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


	Three Months Ended June 30,
(In thousands)		2024		2023
Pre-tax stock-based compensation costs charged against income		$	3,425	$	4,146
Income tax benefit recognized on compensation costs		$	438	$	406
Total fair value of options and RSUs vested during the period		$	11,150	$	11,226
Cash received from the exercise of stock options		$	1,975	$	7,028
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises		$	667	$	876

At June 30, 2024, there were $4.5 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 2.4 years. At June 30, 2024, there were $15.9 million of unrecognized compensation costs related to unvested RSUs and performance stock units ("PSUs") 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 2.3 years.

Restricted Stock Units

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 RSUs granted under the 2005 Plan and the 2020 Plan is presented below:


RSUs	Shares (in thousands)	Weighted Average Grant-Date Fair Value
Three Months Ended June 30, 2023
Unvested at March 31, 2023	409.0	$	47.17
Granted	142.8	61.73
Incremental performance shares	41.3	—
Vested	(189.3)	41.81
Forfeited	(4.2)	54.92
Unvested at June 30, 2023	399.6	54.18
Vested at June 30, 2023	108.5	36.54

Three Months Ended June 30, 2024
Unvested at March 31, 2024	391.9	$	54.43
Granted	131.9	69.87
Incremental performance shares	41.1	—
Vested	(177.7)	46.19
Forfeited	(3.2)	58.16
Unvested at June 30, 2024	384.0	62.43
Vested at June 30, 2024	110.2	38.77

Options

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 presented below:


	Three Months Ended June 30,
	2024		2023
Expected volatility	30.4% - 30.8%		30.2% - 31.6%
Expected dividends	$	—	$	—
Expected term in years	6.0 to 7.0		6.0 to 7.0
Risk-free rate	4.5%		3.6%
Weighted average grant date fair value of options granted	$	27.97	$	23.75

A summary of option activity under the 2005 Plan and the 2020 Plan is as follows:


Options	Shares (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Three Months Ended June 30, 2023
Outstanding at March 31, 2023	1,081.0	$	43.96
Granted	128.1	61.73
Exercised	(172.9)	40.64
Forfeited	(19.3)	54.86
Expired	(1.7)	54.47
Outstanding at June 30, 2023	1,015.2	46.54		6.5	$	13,369
Vested at June 30, 2023	700.1	42.70		5.4	$	11,714

Three Months Ended June 30, 2024
Outstanding at March 31, 2024	728.0	$	48.30
Granted	109.7	69.94
Exercised	(38.3)	51.61
Forfeited	(9.9)	59.11

Outstanding at June 30, 2024	789.5	51.01		6.6	$	14,207
Vested at June 30, 2024	551.9	45.45		5.6	$	12,915

The aggregate intrinsic value of options exercised during the three months ended June 30, 2024 was $0.5 million.

Leases - Additional Information (Details)	Jun. 30, 2024
Weighted average remaining lease term (years)
Operating leases	4 years 3 months 10 days
Finance leases	10 months 2 days
Weighted average discount rate
Operating leases	4.77%
Finance leases	2.89%

Inventories

3 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:


(In thousands)	June 30, 2024		March 31, 2024
Components of Inventories
Packaging and raw materials	$	20,124	$	19,210
Work in process	1,253		636
Finished goods	130,663		118,871

Inventories	$	152,040	$	138,717

Inventories are carried and depicted above at the lower of cost or net realizable value, which includes a reduction in inventory values of $4.6 million at June 30, 2024 and $4.7 million at March 31, 2024 related to obsolete and slow-moving inventory.

Stockholders' Equity (Tables)

3 Months Ended

Jun. 30, 2024

Schedule of Class of Treasury Stock

Our share repurchases consisted of the following:


	Three Months Ended June 30,
		2024	2023
Shares repurchased pursuant to the provisions of the various employee restricted stock awards:
Number of shares		82,673	88,953
Average price per share		$70.16	$61.92
Total amount repurchased		$5.8 million	$5.5 million

Shares repurchased in conjunction with our share repurchase program:
Number of shares		401,111	426,479
Average price per share		$64.76	$58.62
Total amount repurchased		$26.0 million	$25.0 million

Long-Term Debt - Narrative (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Long-term debt outstanding	$ 1,100,000
Revolving Credit Facility \| 2012 ABL Revolver
Debt Instrument [Line Items]
Long-term debt outstanding	0
Borrowing capacity	$ 183,600

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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Schedule of Long-term Debt

Business and Basis of Presentation (Policies)	3 Months Ended
Business and Basis of Presentation (Policies)	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited Condensed Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, these Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, that are considered necessary for a fair statement of our consolidated financial position, results of operations and cash flows for the interim periods presented. Our fiscal year ends on March 31st of each year. References in these Condensed Consolidated Financial Statements or related notes to a year (e.g., 2025) mean our fiscal year ending or ended on March 31st of that year. Operating results for the three months ended June 30, 2024 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2025. These unaudited Condensed Consolidated Financial Statements and related notes should be read in conjunction with our audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024.
Use of Estimates	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. 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.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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.

Inventories (Tables)

3 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consist of the following:


(In thousands)	June 30, 2024		March 31, 2024
Components of Inventories
Packaging and raw materials	$	20,124	$	19,210
Work in process	1,253		636
Finished goods	130,663		118,871

Inventories	$	152,040	$	138,717

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Inventory Disclosure [Abstract]
Packaging and raw materials	$ 20,124	$ 19,210
Work in process	1,253	636
Finished goods	130,663	118,871
Inventories	$ 152,040	$ 138,717

Intangible Assets, net - Future Amortization of Intangible Assets (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (remaining nine months ended March 31, 2025)	$ 13,204
2026	16,213
2027	14,621
2028	12,285
2029	12,285
Thereafter	80,238
Finite-lived intangible assets, net	$ 148,846

Business and Basis of Presentation	3 Months Ended
Business and Basis of Presentation	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	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 7 to these Condensed 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 negatively impacted our results of operations in 2024, and we expect further shortages may have a negative impact on our sales. In addition, labor shortages have impacted our manufacturing operations and could 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 The unaudited Condensed Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, these Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, that are considered necessary for a fair statement of our consolidated financial position, results of operations and cash flows for the interim periods presented. Our fiscal year ends on March 31st of each year. References in these Condensed Consolidated Financial Statements or related notes to a year (e.g., 2025) mean our fiscal year ending or ended on March 31st of that year. Operating results for the three months ended June 30, 2024 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2025. These unaudited Condensed Consolidated Financial Statements and related notes should be read in conjunction with our audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024. 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. 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. Recently Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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.

Long-Term Debt (Tables)

3 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

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


(In thousands, except percentages)	June 30, 2024		March 31, 2024

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 SOFR plus a margin of 2.00% plus a credit spread adjustment, due on July 1, 2028.	100,000		135,000



Long-term debt	1,100,000		1,135,000
Less: unamortized debt costs	(8,793)		(9,196)

Long-term debt, net	$	1,091,207	$	1,125,804

Schedule of Aggregate Future Principal Payments

As of June 30, 2024, aggregate future principal payments required in accordance with the terms of the 2012 Term B-5 Loans under the term loan due 2028 originally entered into on January 31, 2012 (the "2012 Term Loan"), the 2012 ABL Revolver and the indentures governing the senior unsecured notes due 2031 (the "2021 Senior Notes") and the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows:


(In thousands)
Year Ending March 31,	Amount
2025 (remaining nine months ending March 31, 2025)	$	—
2026	—
2027	—
2028	400,000
2029	100,000
Thereafter	600,000
	$	1,100,000

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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Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued marketing costs	$ 30,630	$ 24,053
Accrued compensation costs	6,216	12,221
Accrued broker commissions	1,662	1,309
Income taxes payable	189	2,569
Accrued professional fees	6,683	5,046
Accrued production costs	3,598	4,166
Other accrued liabilities	5,884	6,790
Total other accrued liabilities	$ 54,862	$ 56,154

Goodwill - Schedule of Changes (Details) $ in Thousands	3 Months Ended
Goodwill - Schedule of Changes (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning	$ 741,836
Accumulated impairment loss, beginning	(214,103)
Goodwill, net, beginning	527,733
Adjustment related to acquisition	309
Effects of foreign currency exchange rates	401
Goodwill, gross, ending	742,546
Accumulated impairment loss, ending	(214,103)
Goodwill, net, ending	528,443
North American OTC Healthcare
Goodwill [Roll Forward]
Goodwill, gross, beginning	711,452
Accumulated impairment loss, beginning	(212,516)
Goodwill, net, beginning	498,936
Adjustment related to acquisition	0
Effects of foreign currency exchange rates	0
Goodwill, gross, ending	711,452
Accumulated impairment loss, ending	(212,516)
Goodwill, net, ending	498,936
International OTC Healthcare
Goodwill [Roll Forward]
Goodwill, gross, beginning	30,384
Accumulated impairment loss, beginning	(1,587)
Goodwill, net, beginning	28,797
Adjustment related to acquisition	309
Effects of foreign currency exchange rates	401
Goodwill, gross, ending	31,094
Accumulated impairment loss, ending	(1,587)
Goodwill, net, ending	$ 29,507

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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Goodwill and Intangible Assets Disclosure [Abstract]

Cover Page - shares	3 Months Ended
Cover Page - shares	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		49,557,371
Entity Central Index Key	0001295947
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false

Subsequent Event (Details) - shares			3 Months Ended
Subsequent Event (Details) - shares	Aug. 06, 2024	Aug. 05, 2024	Jun. 30, 2024	Jun. 30, 2023
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Granted (in shares)			131,900	142,800
Director \| Subsequent Event
Subsequent Event [Line Items]
Number of shares of common stock delivered for each vested restricted stock unit (in shares)	1	1
Director \| Restricted Stock Units (RSUs) \| Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	2,202	555
Award vesting period (years)	1 year	1 year

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 18,684	$ 16,377
Stockholders' Equity:
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	55,717,000	55,501,000
Treasury stock (in shares)	6,164,000	5,680,000

Intangible Assets, net

3 Months Ended

Jun. 30, 2024

Intangible Assets, net

A reconciliation of the activity affecting intangible assets, net is as follows:


(In thousands)	Indefinite- Lived Trademarks		Finite-Lived Trademarks and Customer Relationships		Totals
Gross Carrying Amounts
Balance — March 31, 2024	$	2,167,162	$	411,258	$	2,578,420




Effects of foreign currency exchange rates	1,809		468		2,277
Balance — June 30, 2024	$	2,168,971	$	411,726	$	2,580,697

Accumulated Amortization
Balance — March 31, 2024	$	—	$	257,837	$	257,837

Additions	—		4,954		4,954

Effects of foreign currency exchange rates	—		89		89
Balance — June 30, 2024	$	—	$	262,880	$	262,880

Intangible assets, net - June 30, 2024	$	2,168,971	$	148,846	$	2,317,817

Amortization expense was $5.0 million for both the three months ended June 30, 2024 and 2023.

Finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 10 to 24 years, and the estimated amortization expense for each of the five succeeding years and the periods thereafter is as follows (in thousands):


(In thousands)
Year Ending March 31,	Amount
2025 (remaining nine months ended March 31, 2025)	$	13,204
2026	16,213
2027	14,621
2028	12,285
2029	12,285
Thereafter	80,238
	$	148,846

At February 29, 2024, the date of our annual impairment review, the estimated fair value exceeded the carrying value for all intangible assets and, accordingly, no impairment charge was taken. The assumptions subject to significant uncertainties in the impairment analysis include the discount rate utilized in the analysis, 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 impairment charges in the future. As of June 30, 2024, no events have occurred that would indicate potential impairment of intangible assets.

Subsequent Event	3 Months Ended
Subsequent Event	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Director Equity Grants Pursuant to the 2020 Plan, one of the independent members of the Board of Directors received a grant of 555 RSUs on August 5, 2024. The RSUs 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 the 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. Pursuant to the 2020 Plan, each of the independent members of the Board of Directors received a grant of 2,202 RSUs on August 6, 2024. The RSUs 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.

Other Accrued Liabilities (Tables)

3 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Schedule of Other Accrued Liabilities

Other accrued liabilities consist of the following:


(In thousands)	June 30, 2024		March 31, 2024
Accrued marketing costs	$	30,630	$	24,053
Accrued compensation costs	6,216		12,221
Accrued broker commissions	1,662		1,309
Income taxes payable	189		2,569
Accrued professional fees	6,683		5,046

Accrued production costs	3,598		4,166



Other accrued liabilities	5,884		6,790
	$	54,862	$	56,154

Leases - Lease Maturities (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Operating Leases
2025 (remaining nine months ending March 31, 2025)	$ 3,348
2026	2,750
2027	2,214
2028	1,733
2029	374
Thereafter	1,597
Total undiscounted lease payments	12,016
Less amount of lease payments representing interest	(1,307)
Total present value of lease payments	10,709
Finance Lease
2025 (remaining nine months ending March 31, 2025)	779
2026	96
2027	80
2028	0
2029	0
Thereafter	0
Total undiscounted lease payments	955
Less amount of lease payments representing interest	(11)
Total present value of lease payments	944
Total
2025 (remaining nine months ending March 31, 2025)	4,127
2026	2,846
2027	2,294
2028	1,733
2029	374
Thereafter	1,597
Total undiscounted lease payments	12,971
Less amount of lease payments representing interest	(1,318)
Total present value of lease payments	$ 11,653

Accumulated Other Comprehensive Loss - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Reclassification from accumulated other comprehensive loss into earnings	$ 0	$ 0

Earnings Per Share (Tables)

3 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

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


	Three Months Ended June 30,
(In thousands, except per share data)		2024		2023
Numerator
Net income		$	49,068	$	53,276

Denominator
Denominator for basic earnings per share — weighted average shares outstanding		49,886		49,767
Dilutive effect of unvested restricted stock units and options issued to employees and directors		381		429
Denominator for diluted earnings per share		50,267		50,196

Earnings per Common Share:
Basic earnings per share		$	0.98	$	1.07

Diluted earnings per share		$	0.98	$	1.06

Inventories - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventory valuation reserves related to obsolete and slow-moving inventory	$ 4.6	$ 4.7

Long-Term Debt - Maturities of Long-term Debt (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Aggregate Future Principal Payments
2025 (remaining nine months ending March 31, 2025)	$ 0
2026	0
2027	0
2028	400,000
2029	100,000
Thereafter	600,000
Total long-term debt (including current portion)	$ 1,100,000

Long-Term Debt

3 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Long-Term Debt

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


(In thousands, except percentages)	June 30, 2024		March 31, 2024

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 SOFR plus a margin of 2.00% plus a credit spread adjustment, due on July 1, 2028.	100,000		135,000



Long-term debt	1,100,000		1,135,000
Less: unamortized debt costs	(8,793)		(9,196)

Long-term debt, net	$	1,091,207	$	1,125,804

At June 30, 2024, we had no balance outstanding on the asset-based revolving credit facility originally entered into on January 31, 2012 (the "2012 ABL Revolver") and a borrowing capacity of $183.6 million.


(In thousands)
Year Ending March 31,	Amount
2025 (remaining nine months ending March 31, 2025)	$	—
2026	—
2027	—
2028	400,000
2029	100,000
Thereafter	600,000
	$	1,100,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net income	$ 49,068	$ 53,276
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,124	7,543
Loss on disposal of property and equipment	5	0
Deferred and other income taxes	612	4,272
Amortization of debt origination costs	454	983
Stock-based compensation costs	3,425	4,146
Non-cash operating lease cost	1,706	1,244
Changes in operating assets and liabilities:
Accounts receivable	6,368	5,632
Inventories	(13,048)	(7,711)
Prepaid expenses and other current assets	2,359	(5,181)
Accounts payable	591	(5,599)
Accrued liabilities	(2,061)	(8,519)
Operating lease liabilities	(1,883)	(1,745)
Other	(944)	(254)
Net cash provided by operating activities	54,776	48,087
Investing Activities
Purchases of property, plant and equipment	(1,152)	(1,477)
Other	(978)	3,800
Net cash (used in) provided by investing activities	(2,130)	2,323
Financing Activities
Term loan repayments	(35,000)	(30,000)
Payments of finance leases	(720)	(699)
Proceeds from exercise of stock options	1,975	7,028
Fair value of shares surrendered as payment of tax withholding	(5,801)	(5,508)
Repurchase of common stock	(25,976)	(25,000)
Net cash used in financing activities	(65,522)	(54,179)
Effects of exchange rate changes on cash and cash equivalents	663	(140)
Decrease in cash and cash equivalents	(12,213)	(3,909)
Cash and cash equivalents - beginning of period	46,469	58,489
Cash and cash equivalents - end of period	34,256	54,580
Interest paid	13,670	17,582
Income taxes paid	$ 3,661	$ 11,964

Stock-Based Compensation (Tables)

3 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Expense Information

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


	Three Months Ended June 30,
(In thousands)		2024		2023
Pre-tax stock-based compensation costs charged against income		$	3,425	$	4,146
Income tax benefit recognized on compensation costs		$	438	$	406
Total fair value of options and RSUs vested during the period		$	11,150	$	11,226
Cash received from the exercise of stock options		$	1,975	$	7,028
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises		$	667	$	876

Schedule of Restricted Shares

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


RSUs	Shares (in thousands)	Weighted Average Grant-Date Fair Value
Three Months Ended June 30, 2023
Unvested at March 31, 2023	409.0	$	47.17
Granted	142.8	61.73
Incremental performance shares	41.3	—
Vested	(189.3)	41.81
Forfeited	(4.2)	54.92
Unvested at June 30, 2023	399.6	54.18
Vested at June 30, 2023	108.5	36.54

Three Months Ended June 30, 2024
Unvested at March 31, 2024	391.9	$	54.43
Granted	131.9	69.87
Incremental performance shares	41.1	—
Vested	(177.7)	46.19
Forfeited	(3.2)	58.16
Unvested at June 30, 2024	384.0	62.43
Vested at June 30, 2024	110.2	38.77

Schedule of Fair Value of Options Granted

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 presented below:


	Three Months Ended June 30,
	2024		2023
Expected volatility	30.4% - 30.8%		30.2% - 31.6%
Expected dividends	$	—	$	—
Expected term in years	6.0 to 7.0		6.0 to 7.0
Risk-free rate	4.5%		3.6%
Weighted average grant date fair value of options granted	$	27.97	$	23.75

Schedule of Stock Option Activity

A summary of option activity under the 2005 Plan and the 2020 Plan is as follows:


Options	Shares (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Three Months Ended June 30, 2023
Outstanding at March 31, 2023	1,081.0	$	43.96
Granted	128.1	61.73
Exercised	(172.9)	40.64
Forfeited	(19.3)	54.86
Expired	(1.7)	54.47
Outstanding at June 30, 2023	1,015.2	46.54		6.5	$	13,369
Vested at June 30, 2023	700.1	42.70		5.4	$	11,714

Three Months Ended June 30, 2024
Outstanding at March 31, 2024	728.0	$	48.30
Granted	109.7	69.94
Exercised	(38.3)	51.61
Forfeited	(9.9)	59.11

Outstanding at June 30, 2024	789.5	51.01		6.6	$	14,207
Vested at June 30, 2024	551.9	45.45		5.6	$	12,915

Goodwill (Tables)

3 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Reconciliation of the Activity Affecting Goodwill

A reconciliation of the activity affecting goodwill by operating segment is as follows:


(In thousands)		North American OTC Healthcare		International OTC Healthcare		Consolidated
Balance - March 31, 2024
	Goodwill	$	711,452	$	30,384	$	741,836
	Accumulated impairment loss	(212,516)		(1,587)		(214,103)
Balance - March 31, 2024		498,936		28,797		527,733
	Adjustment related to acquisition	—		309		309



	Effects of foreign currency exchange rates	—		401		401
Balance - June 30, 2024
	Goodwill	711,452		31,094		742,546
	Accumulated impairment loss	(212,516)		(1,587)		(214,103)
Balance - June 30, 2024		$	498,936	$	29,507	$	528,443

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

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Business Segments

3 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Business Segments

Our current 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 reportable segments.


	Three Months Ended June 30, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	232,316		$	34,826	$	267,142
Cost of sales	105,559		15,561		121,120
Gross profit	126,757		19,265		146,022
Advertising and marketing	33,753		5,612		39,365
Contribution margin	$	93,004	$	13,653	$	106,657
Other operating expenses					34,611
Operating income					$	72,046
* Intersegment revenues of $0.7 million were eliminated from the North American OTC Healthcare segment.


	Three Months Ended June 30, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	246,143	$	33,166	$	279,309
Cost of sales	110,076		14,560		124,636
Gross profit	136,067		18,606		154,673
Advertising and marketing	31,401		4,830		36,231
Contribution margin	$	104,666	$	13,776	$	118,442
Other operating expenses					33,248
Operating income					$	85,194
* Intersegment revenues of $1.4 million were eliminated from the North American OTC Healthcare segment.

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


	Three Months Ended June 30, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	27,011	$	1,282	$	28,293
Cough & Cold	14,961		5,736		20,697
Women's Health	50,495		4,083		54,578
Gastrointestinal	44,287		13,728		58,015
Eye & Ear Care	43,319		4,811		48,130
Dermatologicals	31,603		1,752		33,355
Oral Care	17,674		3,100		20,774
Other OTC	2,966		334		3,300

Total segment revenues	$	232,316	$	34,826	$	267,142


	Three Months Ended June 30, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	27,182	$	842	$	28,024
Cough & Cold	20,374		6,052		26,426
Women's Health	54,955		4,956		59,911
Gastrointestinal	44,681		12,910		57,591
Eye & Ear Care	39,471		4,021		43,492
Dermatologicals	34,678		1,338		36,016
Oral Care	21,726		3,022		24,748
Other OTC	3,076		25		3,101

Total segment revenues	$	246,143	$	33,166	$	279,309

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.

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Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Shares
Outstanding, beginning of period (in shares)	728,000.0	1,081,000
Granted (in shares)	109,700	128,100
Exercised (in shares)	(38,300)	(172,900)
Forfeited (in shares)	(9,900)	(19,300)
Expired (in shares)		(1,700)
Outstanding, end of period (in shares)	789,500	1,015,200
Exercisable, end of period (in shares)	551,900	700,100
Weighted Average Exercise Price
Outstanding, beginning of period, weighted-average exercise price (in USD per share)	$ 48.30	$ 43.96
Granted, weighted-average exercise price (in USD per share)	69.94	61.73
Exercised, weighted-average exercise price (in USD per share)	51.61	40.64
Forfeited, weighted-average exercise price (in USD per share)	59.11	54.86
Expired, weighted-average exercise price (in USD per share)		54.47
Outstanding, end of period, weighted-average exercise price (in USD per share)	51.01	46.54
Exercisable, end of period, weighted-average exercise price (in USD per share)	$ 45.45	$ 42.70
Options, Additional Disclosures:
Outstanding, end of period, weighted-average remaining contractual term	6 years 7 months 6 days	6 years 6 months
Exercisable, end of period, weighted-average remaining contractual term	5 years 7 months 6 days	5 years 4 months 24 days
Outstanding, end of period, aggregate intrinsic value	$ 14,207	$ 13,369
Exercisable, end of period, aggregate intrinsic value	$ 12,915	$ 11,714

Income Taxes	3 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Numerous countries have agreed to a statement in support of the Organization for Economic Cooperation and Development ("OECD") model rules that propose a global minimum tax rate of 15%. Certain countries have enacted legislation incorporating the agreed upon global minimum tax effective in 2024. This legislation has not and is not expected to have a material impact on our Consolidated Financial Statements. Income taxes are recorded in our quarterly financial statements based on our estimated annual effective income tax rate, subject to adjustments for discrete events, should they occur. The effective tax rates used in the calculation of income taxes were 16.0% and 22.5% for the three months ended June 30, 2024 and 2023, respectively. The decrease in the effective tax rate for the three months ended June 30, 2024 compared to the three months ended June 30, 2023 was due to discrete items, primarily pertaining to the release of a reserve for uncertain tax positions due to the statute of limitations expiring.

The entire disclosure for income tax.

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Goodwill and Intangible Assets Disclosure [Abstract]

Leases

3 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

We lease real estate and equipment for use in our operations.

The components of lease expense for the three months ended June 30, 2024 and 2023 were as follows:


	Three Months Ended June 30,
(In thousands)	2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	665	$	665
Interest on lease liabilities	9		30
Operating lease cost	1,704		1,624
Short term lease cost	32		33
Variable lease cost	16,423		16,456

Total net lease cost	$	18,833	$	18,808

As of June 30, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Finance Lease		Total
2025 (remaining nine months ending March 31, 2025)	$	3,348	$	779	$	4,127
2026	2,750		96		2,846
2027	2,214		80		2,294
2028	1,733		—		1,733
2029	374		—		374
Thereafter	1,597		—		1,597
Total undiscounted lease payments	12,016		955		12,971
Less amount of lease payments representing interest	(1,307)		(11)		(1,318)
Total present value of lease payments	$	10,709	$	944	$	11,653

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


		June 30, 2024
Weighted average remaining lease term (years)
	Operating leases	4.28
	Finance leases	0.84
Weighted average discount rate
	Operating leases	4.77	%
	Finance leases	2.89	%

Leases

We lease real estate and equipment for use in our operations.

The components of lease expense for the three months ended June 30, 2024 and 2023 were as follows:


	Three Months Ended June 30,
(In thousands)	2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	665	$	665
Interest on lease liabilities	9		30
Operating lease cost	1,704		1,624
Short term lease cost	32		33
Variable lease cost	16,423		16,456

Total net lease cost	$	18,833	$	18,808

As of June 30, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Finance Lease		Total
2025 (remaining nine months ending March 31, 2025)	$	3,348	$	779	$	4,127
2026	2,750		96		2,846
2027	2,214		80		2,294
2028	1,733		—		1,733
2029	374		—		374
Thereafter	1,597		—		1,597
Total undiscounted lease payments	12,016		955		12,971
Less amount of lease payments representing interest	(1,307)		(11)		(1,318)
Total present value of lease payments	$	10,709	$	944	$	11,653

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


		June 30, 2024
Weighted average remaining lease term (years)
	Operating leases	4.28
	Finance leases	0.84
Weighted average discount rate
	Operating leases	4.77	%
	Finance leases	2.89	%

Intangible Assets, net (Tables)

3 Months Ended

Jun. 30, 2024

Schedule of Reconciliation of the Activity Affecting Finite-Lived Intangible Assets

A reconciliation of the activity affecting intangible assets, net is as follows:


(In thousands)	Indefinite- Lived Trademarks		Finite-Lived Trademarks and Customer Relationships		Totals
Gross Carrying Amounts
Balance — March 31, 2024	$	2,167,162	$	411,258	$	2,578,420




Effects of foreign currency exchange rates	1,809		468		2,277
Balance — June 30, 2024	$	2,168,971	$	411,726	$	2,580,697

Accumulated Amortization
Balance — March 31, 2024	$	—	$	257,837	$	257,837

Additions	—		4,954		4,954

Effects of foreign currency exchange rates	—		89		89
Balance — June 30, 2024	$	—	$	262,880	$	262,880

Intangible assets, net - June 30, 2024	$	2,168,971	$	148,846	$	2,317,817

Schedule of Reconciliation of the Activity Affecting Indefinite-Lived Intangible Assets

A reconciliation of the activity affecting intangible assets, net is as follows:


(In thousands)	Indefinite- Lived Trademarks		Finite-Lived Trademarks and Customer Relationships		Totals
Gross Carrying Amounts
Balance — March 31, 2024	$	2,167,162	$	411,258	$	2,578,420




Effects of foreign currency exchange rates	1,809		468		2,277
Balance — June 30, 2024	$	2,168,971	$	411,726	$	2,580,697

Accumulated Amortization
Balance — March 31, 2024	$	—	$	257,837	$	257,837

Additions	—		4,954		4,954

Effects of foreign currency exchange rates	—		89		89
Balance — June 30, 2024	$	—	$	262,880	$	262,880

Intangible assets, net - June 30, 2024	$	2,168,971	$	148,846	$	2,317,817

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense


(In thousands)
Year Ending March 31,	Amount
2025 (remaining nine months ended March 31, 2025)	$	13,204
2026	16,213
2027	14,621
2028	12,285
2029	12,285
Thereafter	80,238
	$	148,846

Leases (Tables)

3 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense for the three months ended June 30, 2024 and 2023 were as follows:


	Three Months Ended June 30,
(In thousands)	2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	665	$	665
Interest on lease liabilities	9		30
Operating lease cost	1,704		1,624
Short term lease cost	32		33
Variable lease cost	16,423		16,456

Total net lease cost	$	18,833	$	18,808

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


		June 30, 2024
Weighted average remaining lease term (years)
	Operating leases	4.28
	Finance leases	0.84
Weighted average discount rate
	Operating leases	4.77	%
	Finance leases	2.89	%

Schedule of Maturities of Operating Leases

As of June 30, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Finance Lease		Total
2025 (remaining nine months ending March 31, 2025)	$	3,348	$	779	$	4,127
2026	2,750		96		2,846
2027	2,214		80		2,294
2028	1,733		—		1,733
2029	374		—		374
Thereafter	1,597		—		1,597
Total undiscounted lease payments	12,016		955		12,971
Less amount of lease payments representing interest	(1,307)		(11)		(1,318)
Total present value of lease payments	$	10,709	$	944	$	11,653

Schedule of Maturities of Finance Leases

As of June 30, 2024, the maturities of lease liabilities were as follows:


(In thousands)
Year Ending March 31,	Operating Leases		Finance Lease		Total
2025 (remaining nine months ending March 31, 2025)	$	3,348	$	779	$	4,127
2026	2,750		96		2,846
2027	2,214		80		2,294
2028	1,733		—		1,733
2029	374		—		374
Thereafter	1,597		—		1,597
Total undiscounted lease payments	12,016		955		12,971
Less amount of lease payments representing interest	(1,307)		(11)		(1,318)
Total present value of lease payments	$	10,709	$	944	$	11,653

Stock-Based Compensation - Stock Based Compensation Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Pre-tax stock-based compensation costs charged against income	$ 3,425	$ 4,146
Income tax benefit recognized on compensation costs	438	406
Total fair value of options and RSUs vested during the period	11,150	11,226
Cash received from the exercise of stock options	1,975	7,028
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises	$ 667	$ 876

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Current assets
Cash and cash equivalents	$ 34,256	$ 46,469
Accounts receivable, net of allowance of $18,684 and $16,377, respectively	171,695	176,775
Inventories	152,040	138,717
Prepaid expenses and other current assets	10,750	13,082
Total current assets	368,741	375,043
Property, plant and equipment, net	75,409	76,507
Operating lease right-of-use assets	9,997	11,285
Finance lease right-of-use assets, net	877	1,541
Goodwill	528,443	527,733
Intangible assets, net	2,317,817	2,320,583
Other long-term assets	6,232	5,725
Total Assets	3,307,516	3,318,417
Current liabilities
Accounts payable	39,556	38,979
Accrued interest payable	15,248	15,763
Operating lease liabilities, current portion	3,654	4,658
Finance lease liabilities, current portion	795	1,494
Other accrued liabilities	54,862	56,154
Total current liabilities	114,115	117,048
Long-term debt, net	1,091,207	1,125,804
Deferred income tax liabilities	409,085	403,596
Long-term operating lease liabilities, net of current portion	7,055	7,528
Long-term finance lease liabilities, net of current portion	149	172
Other long-term liabilities	5,138	9,185
Total Liabilities	1,626,749	1,663,333
Commitments and Contingencies — Note 14
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 - 55,291 shares at September 30, 2023 and 54,857 shares at March 31, 2023	557	555
Additional paid-in capital	572,846	567,448
Treasury stock, at cost - 6,164 shares at June 30, 2024 and 5,680 shares at March 31, 2024	(251,566)	(219,621)
Accumulated other comprehensive loss, net of tax	(31,335)	(34,495)
Retained earnings	1,390,265	1,341,197
Total Stockholders' Equity	1,680,767	1,655,084
Total Liabilities and Stockholders' Equity	$ 3,307,516	$ 3,318,417

Intangible Assets, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 4,954	$ 5,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life	10 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life	24 years

Schedule of Carry Amounts and Fair Value Measurements

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 - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 1,100,000
Long-term debt, net	1,100,000	$ 1,135,000
Less: unamortized debt costs	(8,793)	(9,196)
Long-term debt, net	$ 1,091,207	1,125,804
Senior Notes \| 2021 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	3.75%
Total long-term debt (including current portion)	$ 600,000	600,000
Senior Notes \| 2019 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	5.125%
Total long-term debt (including current portion)	$ 400,000	400,000
Term Loans \| 2012 Term B-5 Loans
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 100,000	$ 135,000
Term Loans \| 2012 Term B-5 Loans
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.00%

Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

The summary below details the carrying amounts and estimated fair values of these instruments at June 30, 2024 and March 31, 2024.


	June 30, 2024		March 31, 2024
(In thousands)	Carrying Value	Fair Value	Carrying Value	Fair Value
2019 Senior Notes	400,000	388,000	400,000	389,000
2021 Senior Notes	600,000	521,250	600,000	522,750


2012 Term B-5 Loans	100,000	100,750	135,000	135,506

Business Segments (Tables)

3 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Operating and Reportable Segments

The tables below summarize information about our reportable segments.


	Three Months Ended June 30, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	232,316		$	34,826	$	267,142
Cost of sales	105,559		15,561		121,120
Gross profit	126,757		19,265		146,022
Advertising and marketing	33,753		5,612		39,365
Contribution margin	$	93,004	$	13,653	$	106,657
Other operating expenses					34,611
Operating income					$	72,046
* Intersegment revenues of $0.7 million were eliminated from the North American OTC Healthcare segment.


	Three Months Ended June 30, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Total segment revenues*	$	246,143	$	33,166	$	279,309
Cost of sales	110,076		14,560		124,636
Gross profit	136,067		18,606		154,673
Advertising and marketing	31,401		4,830		36,231
Contribution margin	$	104,666	$	13,776	$	118,442
Other operating expenses					33,248
Operating income					$	85,194
* Intersegment revenues of $1.4 million were eliminated from the North American OTC Healthcare segment.

Schedule of Revenues from Similar Product Groups

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


	Three Months Ended June 30, 2024
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	27,011	$	1,282	$	28,293
Cough & Cold	14,961		5,736		20,697
Women's Health	50,495		4,083		54,578
Gastrointestinal	44,287		13,728		58,015
Eye & Ear Care	43,319		4,811		48,130
Dermatologicals	31,603		1,752		33,355
Oral Care	17,674		3,100		20,774
Other OTC	2,966		334		3,300

Total segment revenues	$	232,316	$	34,826	$	267,142


	Three Months Ended June 30, 2023
(In thousands)	North American OTC Healthcare		International OTC Healthcare		Consolidated
Analgesics	$	27,182	$	842	$	28,024
Cough & Cold	20,374		6,052		26,426
Women's Health	54,955		4,956		59,911
Gastrointestinal	44,681		12,910		57,591
Eye & Ear Care	39,471		4,021		43,492
Dermatologicals	34,678		1,338		36,016
Oral Care	21,726		3,022		24,748
Other OTC	3,076		25		3,101

Total segment revenues	$	246,143	$	33,166	$	279,309

Stock-Based Compensation - Stock Option Valuation Assumptions (Details) - Stock Options - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividends	$ 0	$ 0
Granted, weighted-average grant-date fair value (in USD per share)	$ 27.97	$ 23.75
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30.40%	30.20%
Expected term in years	6 years	6 years
Risk-free rate	4.50%	3.60%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30.80%	31.60%
Expected term in years	7 years	7 years
Risk-free rate

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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Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

3 Months Ended

Jun. 30, 2024

Goodwill

A reconciliation of the activity affecting goodwill by operating segment is as follows:


(In thousands)		North American OTC Healthcare		International OTC Healthcare		Consolidated
Balance - March 31, 2024
	Goodwill	$	711,452	$	30,384	$	741,836
	Accumulated impairment loss	(212,516)		(1,587)		(214,103)
Balance - March 31, 2024		498,936		28,797		527,733
	Adjustment related to acquisition	—		309		309



	Effects of foreign currency exchange rates	—		401		401
Balance - June 30, 2024
	Goodwill	711,452		31,094		742,546
	Accumulated impairment loss	(212,516)		(1,587)		(214,103)
Balance - June 30, 2024		$	498,936	$	29,507	$	528,443

At February 29, 2024, the date of our annual impairment review, the estimated fair value exceeded the carrying value for all reporting units and accordingly, no impairment charge was taken. 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 impairment charges in the future. As of June 30, 2024, we determined no events have occurred that would indicate potential impairment of goodwill.

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Senior Notes \| 2019 Senior Notes \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	$ 400,000	$ 400,000
Senior Notes \| 2021 Senior Notes \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	600,000	600,000
Term Loans \| 2012 Term B-5 Loans \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	100,000	135,000
Fair Value, Measurements, Recurring \| Senior Notes \| 2019 Senior Notes \| Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	388,000	389,000
Fair Value, Measurements, Recurring \| Senior Notes \| 2021 Senior Notes \| Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	521,250	522,750
Fair Value, Measurements, Recurring \| Term Loans \| 2012 Term B-5 Loans \| Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	$ 100,750	$ 135,506

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are involved from time to time in legal matters and other claims incidental to our business. We review outstanding claims and proceedings internally and with external counsel as necessary to assess the probability and amount of a potential loss. These assessments are re-evaluated at each reporting period and as new information becomes available to determine whether a contingency accrual should be established or if any existing contingency accrual should be adjusted. The actual cost of resolving a claim or proceeding ultimately may be substantially different than the amount of the recorded contingency accrual In addition, because it is not permissible under GAAP to establish a litigation contingency accrual until the loss is both probable and estimable, in some cases there may be insufficient time to establish a contingency accrual 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 reasonably possible losses from resolution of routine legal matters and other claims incidental to our business will not have a material effect on our financial statements.

Concentrations of Risk	3 Months Ended
Concentrations of Risk	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Concentrations of Risk	Concentrations of Risk Our revenues are concentrated in the area of OTC Healthcare. We sell our products to mass merchandisers, drug, food, dollar, convenience and club stores and e-commerce channels. During the three months ended June 30, 2024 and 2023, approximately 40% and 41%, respectively, of our gross revenues were derived from our five top selling brands. Walmart accounted for approximately 20% and 21%, respectively, of our gross revenues for the three months ended June 30, 2024 and 2023. Amazon accounted for approximately 13% and 11%, respectively, of gross revenues for the three months ended June 30, 2024 and 2023. 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 certain of our Fleet, Monistat and Summer's Eve products and a manufacturing facility in Victoria, Australia which manufactures some of our Hydralyte products. 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 June 30, 2024, we had relationships with 113 third-party manufacturers. Of those, we had long-term contracts with 29 manufacturers that produced items that accounted for approximately 78% of gross sales for the three months ended June 30, 2024. At June 30, 2023, we had relationships with 135 third-party manufacturers. Of those, we had long-term contracts with 27 manufacturers that produced items that accounted for approximately 75% of gross sales for the three months ended June 30, 2023. One of our suppliers, a privately owned pharmaceutical manufacturer with whom we have a long-term supply agreement, produced products that accounted for more than 10% of our gross revenues for the three months ended June 30, 2024 and 2023. At June 30, 2024, this manufacturer accounted for approximately 23% of our gross revenues, while we accounted for a significant portion of their gross revenues over that time period. At June 30, 2023, this manufacturer accounted for approximately 22% 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 produces products that account 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 of 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.

Business Segments - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 267,142	$ 279,309
Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	28,293	28,024
Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	20,697	26,426
Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	54,578	59,911
Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	58,015	57,591
Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	48,130	43,492
Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	33,355	36,016
Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	20,774	24,748
Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,300	3,101
North American OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	232,316	246,143
North American OTC Healthcare \| Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	27,011	27,182
North American OTC Healthcare \| Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	14,961	20,374
North American OTC Healthcare \| Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	50,495	54,955
North American OTC Healthcare \| Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	44,287	44,681
North American OTC Healthcare \| Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	43,319	39,471
North American OTC Healthcare \| Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	31,603	34,678
North American OTC Healthcare \| Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	17,674	21,726
North American OTC Healthcare \| Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	2,966	3,076
International OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	34,826	33,166
International OTC Healthcare \| Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,282	842
International OTC Healthcare \| Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	5,736	6,052
International OTC Healthcare \| Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	4,083	4,956
International OTC Healthcare \| Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	13,728	12,910
International OTC Healthcare \| Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	4,811	4,021
International OTC Healthcare \| Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,752	1,338
International OTC Healthcare \| Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,100	3,022
International OTC Healthcare \| Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 334	$ 25

Accumulated Other Comprehensive Loss

3 Months Ended

Jun. 30, 2024

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisted of the following at June 30, 2024 and March 31, 2024:


(In thousands)	June 30, 2024		March 31, 2024
Components of Accumulated Other Comprehensive Loss
Cumulative translation adjustment	$	(32,060)	$	(35,220)

Unrecognized net gain on pension plans, net of tax of $(217) and $(217), respectively	725		725
Accumulated other comprehensive loss, net of tax	$	(31,335)	$	(34,495)

As of June 30, 2024 and March 31, 2024, no amounts were reclassified from accumulated other comprehensive loss into earnings.

Concentrations of Risk (Details) - manufacturer	3 Months Ended
Concentrations of Risk (Details) - manufacturer	Jun. 30, 2024	Jun. 30, 2023
Concentration Risk [Line Items]
Number of third-party manufacturers	113	135
Sales \| Customer Concentration Risk \| Walmart
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%	21.00%
Sales \| Customer Concentration Risk \| Amazon
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%	11.00%
Sales \| Supplier Concentration Risk
Concentration Risk [Line Items]
Number of third-party manufacturers with long-term contracts	29	27
Top 5 brands \| Sales \| Product Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	40.00%	41.00%
Manufacturers \| Sales \| Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	78.00%	75.00%
Contract Pharmacal Corporation \| Sales \| Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	23.00%	22.00%

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Common stock, beginning balance (in shares) at Mar. 31, 2023		54,857,000
Equity, beginning balance at Mar. 31, 2023	$ 1,447,084	$ 548	$ 535,356	$ (189,114)	$ (31,564)	$ 1,131,858
Treasury stock, beginning balance (in shares) at Mar. 31, 2023				5,165,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 4,146		4,146
Exercise of stock options (in shares)	172,900	173,000
Exercise of stock options	$ 7,028	$ 2	7,026
Issuance of shares related to restricted stock (in shares)		190,000
Issuance of shares related to restricted stock	0	$ 2	(2)
Treasury share repurchases (in shares)				515,000
Treasury share repurchases	(30,593)			$ (30,593)
Net income	53,276					53,276
Comprehensive income	(646)				(646)
Common stock, ending balance (in shares) at Jun. 30, 2023		55,220,000
Equity, ending balance at Jun. 30, 2023	1,480,295	$ 552	546,526	$ (219,707)	(32,210)	1,185,134
Treasury stock, ending balance (in shares) at Jun. 30, 2023				5,680,000
Common stock, beginning balance (in shares) at Mar. 31, 2024		55,501,000
Equity, beginning balance at Mar. 31, 2024	$ 1,655,084	$ 555	567,448	$ (219,621)	(34,495)	1,341,197
Treasury stock, beginning balance (in shares) at Mar. 31, 2024	5,680,000			5,680,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 3,425		3,425
Exercise of stock options (in shares)	38,300	38,000
Exercise of stock options	$ 1,975	$ 0	1,975
Issuance of shares related to restricted stock (in shares)		178,000
Issuance of shares related to restricted stock	0	$ 2	(2)
Treasury share repurchases (in shares)				484,000
Treasury share repurchases	(31,945)			$ (31,945)
Net income	49,068					49,068
Comprehensive income	3,160				3,160
Common stock, ending balance (in shares) at Jun. 30, 2024		55,717,000
Equity, ending balance at Jun. 30, 2024	$ 1,680,767	$ 557	$ 572,846	$ (251,566)	$ (31,335)	$ 1,390,265
Treasury stock, ending balance (in shares) at Jun. 30, 2024	6,164,000			6,164,000

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	16.00%	22.50%

Accumulated Other Comprehensive Loss - Components of AOCL (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ 1,680,767	$ 1,655,084	$ 1,480,295	$ 1,447,084
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(31,335)	(34,495)	$ (32,210)	$ (31,564)
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(32,060)	(35,220)
Unrecognized net gain on pension plans, net of tax of $(217) and $(217), respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	725	725
Unrecognized net gain on pension plan, tax	$ (217)	$ (217)

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

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

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Earnings Per Share - Antidilutive Securities (Details) - shares shares in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Outstanding Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0.3	0.4

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Amortization of right-of-use assets	$ 665	$ 665
Interest on lease liabilities	9	30
Operating lease cost	1,704	1,624
Short term lease cost	32	33
Variable lease cost	16,423	16,456
Total net lease cost	$ 18,833	$ 18,808

Earnings Per Share - Computation of Basis and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Numerator
Net income	$ 49,068	$ 53,276
Denominator
Denominator for basic earnings per share — weighted average shares outstanding (in shares)	49,886	49,767
Dilutive effect of unvested restricted stock units and options issued to employees and directors (in shares)	381	429
Denominator for diluted earnings per share (in shares)	50,267	50,196
Earnings per Common Share:
Basic earnings per share (in USD per share)	$ 0.98	$ 1.07
Diluted earnings per share (in USD per share)	$ 0.98	$ 1.06

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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

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-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 45
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-Subparagraph (a)
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Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Intangible Assets, net - Activity Affecting Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Intangible Assets, Gross [Abstract]
Totals, gross, beginning balance	$ 2,578,420
Totals, effects of foreign currency exchange rate	2,277
Totals, gross, ending balance	2,580,697
Accumulated Amortization
Accumulated amortization, beginning balance	257,837
Accumulated amortization, additions	4,954	$ 5,000
Accumulated amortization, effects of foreign exchange rates	89
Accumulated amortization, ending balance	262,880
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, net	148,846
Intangible Assets, Net [Abstract]
Intangible assets, net	2,317,817		$ 2,320,583
Finite-Lived Trademarks and Customer Relationships
Finite-Lived Trademarks and Customer Relationships
Finite-lived trademarks and customer relationships, beginning balance	411,258
Finite-lived trademarks and customer relationships, effects of foreign currency exchange rate	468
Finite-lived trademarks and customer relationships, ending balance	411,726
Accumulated Amortization
Accumulated amortization, beginning balance	257,837
Accumulated amortization, additions	4,954
Accumulated amortization, effects of foreign exchange rates	89
Accumulated amortization, ending balance	262,880
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible assets, net	148,846
Indefinite-Lived Trademarks
Indefinite- Lived Trademarks
Indefinite-lived trademarks, beginning balance	2,167,162
Indefinite lived trademarks, effects of foreign currency exchange rate	1,809
Indefinite-lived trademarks, ending balance	$ 2,168,971

Fair Value Measurements

3 Months Ended

Jun. 30, 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.

FASB Accounting Standards Codification ("ASC") 820, Fair Value Measurements, 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. ASC 820 established market (observable inputs) as the preferred source of fair value, to be followed by our 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 us using estimates and assumptions reflective of those that would be utilized by a market participant.

The market values have been determined based on market values for similar instruments adjusted for certain factors. As such, the 2021 Senior Notes, the 2019 Senior Notes, and the 2012 Term B-5 Loans are measured in Level 2 of the above hierarchy. The summary below details the carrying amounts and estimated fair values of these instruments at June 30, 2024 and March 31, 2024.


	June 30, 2024		March 31, 2024
(In thousands)	Carrying Value	Fair Value	Carrying Value	Fair Value
2019 Senior Notes	400,000	388,000	400,000	389,000
2021 Senior Notes	600,000	521,250	600,000	522,750


2012 Term B-5 Loans	100,000	100,750	135,000	135,506

At June 30, 2024 and March 31, 2024, we did not have any assets or liabilities measured in Level 1 or 3.

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.

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Business Segments - Information on Operating and Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information, Profit (Loss):
Total revenues	$ 267,142	$ 279,309
Cost of sales	121,120	124,636
Gross profit	146,022	154,673
Advertising and marketing	39,365	36,231
Contribution margin	106,657	118,442
Other operating expenses	34,611	33,248
Operating income	72,046	85,194
North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	232,316	246,143
International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	34,826	33,166
Operating Segments \| North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	232,316	246,143
Cost of sales	105,559	110,076
Gross profit	126,757	136,067
Advertising and marketing	33,753	31,401
Contribution margin	93,004	104,666
Operating Segments \| International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	34,826	33,166
Cost of sales	15,561	14,560
Gross profit	19,265	18,606
Advertising and marketing	5,612	4,830
Contribution margin	13,653	13,776
Intersegment Eliminations \| North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	$ 700	$ 1,400

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2024	Jun. 23, 2020	May 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to nonvested awards		$ 4.5
Unrecognized compensation costs related to nonvested awards, weighted average period for recognition (years)		2 years 4 months 24 days
Options exercised, aggregate intrinsic value		$ 0.5
Restricted Stock Units (RSUs) & Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to nonvested awards		$ 15.9
Unrecognized compensation costs related to nonvested awards, weighted average period for recognition (years)		2 years 3 months 18 days
Long-term Equity Incentive Plan, 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)				5,000,000.0
Number of additional shares authorized (in shares)	1,800,000
Long-term Incentive Plan, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		1,600,000	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

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenues
Total revenues	$ 267,142	$ 279,309
Cost of Sales
Cost of sales excluding depreciation	118,697	122,654
Cost of sales depreciation	2,423	1,982
Cost of sales	121,120	124,636
Gross profit	146,022	154,673
Operating Expenses
Advertising and marketing	39,365	36,231
General and administrative	28,910	27,687
Depreciation and amortization	5,701	5,561
Total operating expenses	73,976	69,479
Operating income	72,046	85,194
Other expense
Interest expense, net	13,137	17,719
Other expense (income), net	496	(1,238)
Total other expense, net	13,633	16,481
Income before income taxes	58,413	68,713
Provision for income taxes	9,345	15,437
Net income	$ 49,068	$ 53,276
Earnings per share:
Basic (in USD per share)	$ 0.98	$ 1.07
Diluted (in USD per share)	$ 0.98	$ 1.06
Weighted average shares outstanding:
Basic (in shares)	49,886	49,767
Diluted (in shares)	50,267	50,196
Comprehensive income, net of tax:
Currency translation adjustments	$ 3,160	$ (646)
Total other comprehensive income (loss)	3,160	(646)
Comprehensive income	52,228	52,630
Net sales
Revenues
Total revenues	266,835	279,299
Other revenues
Revenues
Total revenues	$ 307	$ 10

Stockholders' Equity

3 Months Ended

Jun. 30, 2024

Stockholders' Equity

We are authorized to issue 250.0 million shares of common stock, $0.01 par value per share, and 5.0 million shares of preferred stock, $0.01 par value per share. The Board of Directors may direct the issuance of the undesignated preferred stock in one or more series and determine preferences, privileges and restrictions thereof.

Each share of common stock has the right to one vote on all matters submitted to a vote of stockholders. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Board of Directors, subject to prior rights of holders of all classes of outstanding stock having priority rights as to dividends. No dividends have been declared or paid on our common stock through June 30, 2024.

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 U.S. Securities and Exchange Commission.

During the three months ended June 30, 2024 and 2023, we repurchased shares of our common stock and recorded them as treasury stock. Our share repurchases consisted of the following:


	Three Months Ended June 30,
		2024	2023
Shares repurchased pursuant to the provisions of the various employee restricted stock awards:
Number of shares		82,673	88,953
Average price per share		$70.16	$61.92
Total amount repurchased		$5.8 million	$5.5 million

Shares repurchased in conjunction with our share repurchase program:
Number of shares		401,111	426,479
Average price per share		$64.76	$58.62
Total amount repurchased		$26.0 million	$25.0 million

The entire disclosure for equity.

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Stockholders' Equity - Narrative (Details)	3 Months Ended
Stockholders' Equity - Narrative (Details)	Jun. 30, 2024 USD ($) vote $ / shares shares	May 06, 2024 USD ($)	Mar. 31, 2024 $ / shares shares
Stockholders' Equity Note [Abstract]
Common stock, shares authorized (in shares) \| shares	250,000,000		250,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares) \| shares	5,000,000		5,000,000
Preferred stock, par value (in USD per share) \| $ / shares	$ 0.01		$ 0.01
Voting rights, number of votes per common share owned \| vote	1
Dividends declared on common stock \| $	$ 0
Stock repurchase program, authorized amount \| $		$ 300,000,000

Stockholders' Equity - Schedule of Repurchased Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Total amount repurchased	$ 31,945	$ 30,593
Share Repurchase Program
Class of Stock [Line Items]
Number of shares (in shares)	401,111	426,479
Average price per share (in USD per share)	$ 64.76	$ 58.62
Total amount repurchased	$ 26,000	$ 25,000
Restricted Shares
Class of Stock [Line Items]
Number of shares (in shares)	82,673	88,953
Average price per share (in USD per share)	$ 70.16	$ 61.92
Total amount repurchased	$ 5,800	$ 5,500

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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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 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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