Logitech International (LOGI) 10-Q 25 Oct 19 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Sep. 30, 2019	Oct. 09, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	0-29174
Entity Registrant Name	LOGITECH INTERNATIONAL S.A.
Entity Incorporation, State or Country Code	V8
Entity Address, Address Line One	1015 Lausanne
Entity Address, Country	CH
Entity Address, Address Line Two	c/o Logitech Inc.
Entity Address, Address Line Two	7700 Gateway Boulevard
Entity Address, City or Town	Newark
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94560
City Area Code	510
Local Phone Number	795-8500
Title of 12(b) Security	Registered Shares
Trading Symbol	LOGI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		166,974,994
Entity Central Index Key	0001032975
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 719,691	$ 691,146	$ 1,363,916	$ 1,299,626
Cost of goods sold	444,344	432,063	846,322	814,234
Amortization of intangible assets and purchase accounting effect on inventory	3,271	2,966	6,542	5,338
Gross profit	272,076	256,117	511,052	480,054
Operating expenses:
Marketing and selling	134,155	121,801	257,188	236,385
Research and development	41,964	39,542	84,207	78,529
General and administrative	24,048	25,206	46,207	50,679
Amortization of intangible assets and acquisition-related costs	4,218	4,317	7,814	6,838
Restructuring charges (credits), net	(364)	119	114	10,040
Total operating expenses	204,021	190,985	395,530	382,471
Operating income	68,055	65,132	115,522	97,583
Interest income	2,390	1,858	4,943	4,227
Other income (expense), net	(110)	3,389	1,751	1,818
Income before income taxes	70,335	70,379	122,216	103,628
Provision for (benefit from) income taxes	(2,598)	6,203	3,938	986
Net income	$ 72,933	$ 64,176	$ 118,278	$ 102,642
Net income per share:
Basic (in dollars per share)	$ 0.44	$ 0.39	$ 0.71	$ 0.62
Diluted (in dollars per share)	$ 0.43	$ 0.38	$ 0.70	$ 0.61
Weighted average shares used to compute net income per share:
Basic (in shares)	166,662	165,630	166,484	165,474
Diluted (in shares)	169,027	169,234	168,914	168,996

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 72,933	$ 64,176	$ 118,278	$ 102,642
Other comprehensive income (loss):
Currency translation loss, net of taxes	(4,097)	(2,863)	(4,375)	(7,826)
Defined benefit plans:
Net gain (loss) and prior service costs, net of taxes	268	192	(43)	98
Amortization included in other income (expense), net	54	(69)	107	(139)
Hedging gain (loss):
Deferred hedging gain (loss), net of taxes	2,380	298	1,437	485
Reclassification of hedging loss (gain) included in cost of goods sold	(132)	218	(358)	3,069
Total other comprehensive loss	(1,527)	(2,224)	(3,232)	(4,313)
Total comprehensive income	$ 71,406	$ 61,952	$ 115,046	$ 98,329

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 574,464	$ 604,516
Accounts receivable, net	465,969	383,309
Inventories	338,314	293,495
Other current assets	79,630	69,116
Total current assets	1,458,377	1,350,436
Non-current assets:
Property, plant and equipment, net	75,568	78,552
Goodwill	343,686	343,684
Other intangible assets, net	105,264	118,999
Other assets	173,425	132,453
Total assets	2,156,320	2,024,124
Current liabilities:
Accounts payable	411,043	283,922
Accrued and other current liabilities	424,963	433,897
Total current liabilities	836,006	717,819
Non-current liabilities:
Income taxes payable	36,374	36,384
Other non-current liabilities	116,403	93,582
Total liabilities	988,783	847,785
Commitments and contingencies
Shareholders’ equity:
Registered shares, CHF 0.25 par value: Issued shares - 173,106 at September 30 and March 31, 2019 Additional shares that may be be issued out of conditional capital - 50,000 at September 30 and March 31, 2019 Additional shares that may be issued out of the authorized capital - 34,621 at September 30 and March 31, 2019	30,148	30,148
Additional paid-in capital	50,913	56,655
Shares in treasury, at cost — 6,203 at September 30, 2019 and 7,244 at March 31, 2019	(163,728)	(169,802)
Retained earnings	1,359,134	1,365,036
Accumulated other comprehensive loss	(108,930)	(105,698)
Total shareholders’ equity	1,167,537	1,176,339
Total liabilities and shareholders’ equity	$ 2,156,320	$ 2,024,124

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - SFr / shares shares in Thousands	Sep. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Shares, par value (in CHF per share)	SFr 0.25	SFr 0.25
Shares issued (in shares)	173,106	173,106
Shares that may be issued out of conditional capital (in shares)	50,000	50,000
Shares that may be issued out of the authorized capital (in shares)	34,621	34,621
Treasury, at cost, shares (in shares)	6,203	7,244

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 118,278	$ 102,642
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21,386	21,895
Amortization of intangible assets	13,735	10,341
Loss (gain) on investments	63	(382)
Share-based compensation expense	26,470	25,308
Deferred income taxes	(8,978)	(9,815)
Other	(2)	75
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net	(85,955)	(133,475)
Inventories	(47,773)	(84,401)
Other assets	(14,083)	(11,056)
Accounts payable	129,101	138,186
Accrued and other liabilities	(9,223)	37,902
Net cash provided by operating activities	143,019	97,220
Cash flows from investing activities:
Purchases of property, plant and equipment	(18,092)	(18,368)
Investment in privately held companies	(170)	(506)
Acquisitions, net of cash acquired	(366)	(133,908)
Purchases of short-term investments	0	(1,505)
Purchases of trading investments	(2,525)	(3,722)
Proceeds from sales of trading investments	2,571	4,194
Net cash used in investing activities	(18,582)	(153,815)
Cash flows from financing activities:
Payment of cash dividends	(124,180)	(113,971)
Purchases of registered shares	(15,127)	(19,901)
Proceeds from exercises of stock options and purchase rights	9,331	10,007
Tax withholdings related to net share settlements of restricted stock units	(20,908)	(27,380)
Net cash used in financing activities	(150,884)	(151,245)
Effect of exchange rate changes on cash and cash equivalents	(3,605)	(9,157)
Net decrease in cash and cash equivalents	(30,052)	(216,997)
Cash and cash equivalents, beginning of the period	604,516	641,947
Cash and cash equivalents, end of the period	574,464	424,950
Non-cash investing activities:
Property, plant and equipment purchased during the period and included in period end liability accounts	$ 4,412	$ 4,267

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY shares in Thousands, $ in Thousands	SFr / shares	USD ($)$ / shares	Registered SharesUSD ($)shares	Additional Paid-in CapitalUSD ($)	Treasury SharesUSD ($)shares	Retained EarningsUSD ($)	Accumulated Other Comprehensive LossUSD ($)
Beginning of the period at Mar. 31, 2018		$ 1,050,557	$ 30,148	$ 47,234	$ (165,686)	$ 1,232,316	$ (93,455)
Beginning of the period (in shares) at Mar. 31, 2018 | shares			173,106		8,527
Increase (Decrease) in Shareholders' Equity
Total comprehensive income		98,329				102,642	(4,313)
Purchases of registered shares		(19,901)			$ (19,901)
Purchase of registered shares (in shares) | shares					474
Sales of shares upon exercise of stock options and purchase rights		10,007		5,951	$ 4,056
Sales of shares upon exercise of stock options and purchase rights (in shares) | shares					(311)
Issuance of shares upon vesting of restricted stock units		(27,380)		(45,430)	$ 18,050
Issuance of shares upon vesting of restricted stock units (in shares) | shares					(1,306)
Share-based compensation		25,405		25,405
Cash dividends		$ (113,971)				(113,971)
Cash dividends per share (in dollars per share) | (per share)	SFr 0.67	$ 0.69
End of the period at Sep. 30, 2018		$ 1,012,164	$ 30,148	33,160	$ (163,481)	1,210,105	(97,768)
End of the period (in shares) at Sep. 30, 2018 | shares			173,106		7,384
Beginning of the period at Jun. 30, 2018		1,055,260	$ 30,148	19,093	$ (158,337)	1,259,900	(95,544)
Beginning of the period (in shares) at Jun. 30, 2018 | shares			173,106		7,533
Increase (Decrease) in Shareholders' Equity
Total comprehensive income		61,952				64,176	(2,224)
Purchases of registered shares		(9,919)			$ (9,919)
Purchase of registered shares (in shares) | shares					219
Sales of shares upon exercise of stock options and purchase rights		8,903		5,512	$ 3,391
Sales of shares upon exercise of stock options and purchase rights (in shares) | shares					(262)
Issuance of shares upon vesting of restricted stock units		(2,299)		(3,683)	$ 1,384
Issuance of shares upon vesting of restricted stock units (in shares) | shares					(106)
Share-based compensation		12,238		12,238
Cash dividends		$ (113,971)				(113,971)
Cash dividends per share (in dollars per share) | (per share)	0.67	$ 0.69
End of the period at Sep. 30, 2018		$ 1,012,164	$ 30,148	33,160	$ (163,481)	1,210,105	(97,768)
End of the period (in shares) at Sep. 30, 2018 | shares			173,106		7,384
Beginning of the period at Mar. 31, 2019		1,176,339	$ 30,148	56,655	$ (169,802)	1,365,036	(105,698)
Beginning of the period (in shares) at Mar. 31, 2019 | shares			173,106		7,244
Increase (Decrease) in Shareholders' Equity
Total comprehensive income		115,046				118,278	(3,232)
Purchases of registered shares		(15,127)			$ (15,127)
Purchase of registered shares (in shares) | shares					389
Sales of shares upon exercise of stock options and purchase rights		9,900		4,158	$ 5,742
Sales of shares upon exercise of stock options and purchase rights (in shares) | shares					(391)
Issuance of shares upon vesting of restricted stock units		(20,908)		(36,367)	$ 15,459
Issuance of shares upon vesting of restricted stock units (in shares) | shares					(1,039)
Share-based compensation		26,467		26,467
Cash dividends		$ (124,180)				(124,180)
Cash dividends per share (in dollars per share) | (per share)	0.73	$ 0.74
End of the period at Sep. 30, 2019		$ 1,167,537	$ 30,148	50,913	$ (163,728)	1,359,134	(108,930)
End of the period (in shares) at Sep. 30, 2019 | shares			173,106		6,203
Beginning of the period at Jun. 30, 2019		1,198,034	$ 30,148	35,048	$ (170,140)	1,410,381	(107,403)
Beginning of the period (in shares) at Jun. 30, 2019 | shares			173,106		6,642
Increase (Decrease) in Shareholders' Equity
Total comprehensive income		71,406				72,933	(1,527)
Sales of shares upon exercise of stock options and purchase rights		9,507		4,150	$ 5,357
Sales of shares upon exercise of stock options and purchase rights (in shares) | shares					(366)
Issuance of shares upon vesting of restricted stock units		(1,538)		(2,593)	$ 1,055
Issuance of shares upon vesting of restricted stock units (in shares) | shares					(73)
Share-based compensation		14,308		14,308
Cash dividends		$ (124,180)				(124,180)
Cash dividends per share (in dollars per share) | (per share)	SFr 0.73	$ 0.74
End of the period at Sep. 30, 2019		$ 1,167,537	$ 30,148	$ 50,913	$ (163,728)	$ 1,359,134	$ (108,930)
End of the period (in shares) at Sep. 30, 2019 | shares			173,106		6,203

The Company and Summary of Sign

The Company and Summary of Significant Accounting Policies and Estimates	6 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
The Company and Summary of Significant Accounting Policies and Estimates	The Company and Summary of Significant Accounting Policies and Estimates The Company Logitech International S.A, together with its consolidated subsidiaries, ("Logitech" or the "Company") designs, manufactures and markets products that help connect people to digital and cloud experiences. More than 35 years ago, Logitech created products to improve experiences around the personal PC platform, and today it is a multi-brand, multi-category company designing products that enable better experiences consuming, sharing and creating any digital content such as music, gaming, video and computing, whether it is on a computer, mobile device or in the cloud. The Company sells its products to a broad network of domestic and international customers, including direct sales to retailers and e-tailers and indirect sales through distributors. Logitech was founded in Switzerland in 1981 and Logitech International S.A. has been the parent holding company of Logitech since 1988. Logitech International S.A. is a Swiss holding company with its registered office in Apples, Switzerland and headquarters in Lausanne, Switzerland, which conducts its business through subsidiaries in the Americas, Europe, Middle East and Africa ("EMEA") and Asia Pacific. Shares of Logitech International S.A. are listed on both the SIX Swiss Exchange under the trading symbol LOGN and the Nasdaq Global Select Market under the trading symbol LOGI. Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and therefore do not include all the information required by GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2019 , included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on May 17, 2019. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three and six months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2020, or any future periods. Changes in Significant Accounting Policies Other than the recent accounting pronouncements adopted and discussed below under Recent Accounting Pronouncements Adopted and Summary of Significant Accounting Policies , there have been no changes in the Company’s significant accounting policies during the six months ended September 30, 2019 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2019 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve the fair value of goodwill, intangible assets acquired from business acquisitions, valuation of operating right-of-use assets, warranty liabilities, accruals for customer incentives, cooperative marketing, and pricing programs (Customer Programs) and related breakage when appropriate, accrued sales return liability, allowance for doubtful accounts, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from these estimates. Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, "Leases (Topic 842)" (ASU 2016-02 or Topic 842), which requires a lessee to recognize right-of-use (ROU) assets and lease liabilities arising from operating and financing leases with terms longer than 12 months on the consolidated balance sheets and to disclose key information about leasing arrangements. The Company adopted the new standard effective April 1, 2019 and recorded an ROU asset and lease liability related to its operating leases. The Company used the modified retrospective approach with the effective date as the date of initial application. Accordingly, the Company applied the new lease standard prospectively to leases existing or commencing on or after April 1, 2019. Prior period balances and disclosures have not been restated. The Company elected the package of transitional practical expedients, which among other provisions, allows the Company to not reassess under the new standard the Company's prior conclusions about lease identification, lease classification and initial direct cost, for any existing leases on the adoption date. In addition, for operating leases, the Company elected to account for lease and non-lease components as a single lease component. The Company also made an accounting policy election to not recognize lease liabilities and ROU assets on its condensed consolidated balance sheet for leases that, at the lease commencement date, have a lease term of 12 months or less. Adoption of the standard resulted in the recognition of $31.3 million of ROU assets and $37.4 million of lease liabilities related to the Company's leases on its condensed consolidated balance sheet on April 1, 2019. The difference of $6.1 million represented deferred rent for leases that existed as of the date of adoption, which decreased the opening balance of ROU assets. In addition, the prepaid rent balance as of the date of adoption increased the opening balance of ROU assets. The deferred rent and prepaid rent balances were derecognized as of the date of adoption and no adjustment was made to retained earnings. The adoption of the standard did not have an impact on our condensed consolidated statement of operations, comprehensive income, changes in shareholders' equity or cash flows. In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (ASU 2018-15), which clarifies that implementation costs incurred by customers in cloud computing arrangements are deferred if they would be capitalized by customers in software licensing arrangements under the internal-use software guidance. ASU 2018-15 is effective for annual and interim periods in fiscal years beginning after December 15, 2019, with early adoption permitted. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively. The Company adopted this standard effective April 1, 2019 using a prospective adoption method. The adoption of ASU 2018-15 did not have a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements to be Adopted In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (ASU 2016-13), which replaces the incurred-loss impairment methodology and requires immediate recognition of estimated credit losses expected to occur for most financial assets, including trade receivables. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. The Company does not expect the adoption of ASU 2016-13 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements" (ASU 2018-13), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing fair value measurement disclosures. ASU 2018-13 is effective for annual and interim periods in fiscal years beginning after December 15, 2019. Early adoption is permitted. Retrospective adoption is required, except for certain disclosures which will be required to be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. The Company does not expect the adoption of ASU 2018-13 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefits Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" (ASU 2018-14), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing defined benefit plan disclosures. ASU 2018-14 is effective for annual periods in fiscal years ending after December 15, 2020. Retrospective adoption is required and early adoption is permitted. The Company does not expect the adoption of ASU 2018-14 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table summarizes the computations of basic and diluted net income per share for the three and six months ended September 30, 2019 and September 30, 2018 (in thousands, except per share amounts): Three Months Ended Six Months Ended 2019 2018 2019 2018 Net income $ 72,933 $ 64,176 $ 118,278 $ 102,642 Shares used in net income per share computation: Weighted average shares outstanding - basic 166,662 165,630 166,484 165,474 Effect of potentially dilutive equivalent shares 2,365 3,604 2,430 3,522 Weighted average shares outstanding - diluted 169,027 169,234 168,914 168,996 Net income per share: Basic $ 0.44 $ 0.39 $ 0.71 $ 0.62 Diluted $ 0.43 $ 0.38 $ 0.70 $ 0.61 Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs") and employee share purchase rights (ESPP) totaling 1.9 million and 0.8 million for the three months ended September 30, 2019 and 2018, respectively, and 2.0 million and 1.2 million for the six months ended September 30, 2019 and 2018, respectively, were excluded from the calculation of diluted net income per share because the combined exercise price and average unamortized grant date fair value upon exercise of these options and ESPP or vesting of RSUs were greater than the average market price of the Company's shares during the periods presented herein, and therefore their inclusion would have been anti-dilutive. Performance-based awards were not included because all necessary conditions have not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period was the end of the contingency period.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Employee Benefit Plans	Employee Benefit Plans Employee Share Purchase Plans and Stock Incentive Plans As of September 30, 2019 , the Company offers the 2006 Employee Share Purchase Plan, as amended and restated (Non-U.S.) (2006 ESPP), the 1996 Employee Share Purchase Plan (U.S.), as amended and restated (1996 ESPP), the 2006 Stock Incentive Plan, as amended and restated (2006 Plan), and the 2012 Stock Inducement Equity Plan (2012 Plan). The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and six months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Cost of goods sold $ 1,184 $ 791 $ 2,342 $ 1,921 Marketing and selling 6,951 4,864 13,800 10,650 Research and development 2,248 1,935 4,402 3,484 General and administrative 3,869 4,459 5,926 9,253 Total share-based compensation expense 14,252 12,049 26,470 25,308 Income tax benefit (2,723 ) (2,650 ) (9,523 ) (12,179 ) Total share-based compensation expense, net of income tax benefit $ 11,529 $ 9,399 $ 16,947 $ 13,129 The income tax benefit in the respective period primarily consists of tax benefit related to the share-based compensation expense for the period and direct tax benefit realized, including net excess tax benefits recognized from share-based awards vested or exercised during the period. As of September 30, 2019 and 2018 , the balance of capitalized share-based compensation included in inventory was $0.9 million and $0.8 million , respectively. Defined Benefit Plans Certain of the Company’s subsidiaries sponsor defined benefit pension plans or non-retirement post-employment benefits covering substantially all of their employees. Benefits are provided based on employees’ years of service and earnings, or in accordance with applicable employee benefit regulations. The Company’s practice is to fund amounts sufficient to meet the requirements set forth in the applicable employee benefit and tax regulations. The costs recorded of $2.4 million and $2.2 million for the three months ended September 30, 2019 and 2018 , respectively, and $4.8 million and $4.5 million for the six months ended September 30, 2019 and 2018 , respectively, were primarily related to service costs.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is incorporated in Switzerland but operates in various countries with differing tax laws and rates. Further, a portion of the Company’s income before taxes and the provision for (benefit from) income taxes are generated outside of Switzerland. The income tax benefit for the three months ended September 30, 2019 was $2.6 million based on an effective income tax rate of (3.7)% of pre-tax income, compared to an income tax provision of $6.2 million based on an effective income tax rate of 8.8% of pre-tax income for the three months ended September 30, 2018 . The income tax provision for the six months ended September 30, 2019 was $3.9 million based on an effective income tax rate of 3.2% of pre-tax income, compared to an income tax provision of $1.0 million based on an effective income tax rate of 1.0% of pre-tax income for the six months ended September 30, 2018. On May 19, 2019, the Swiss electorate approved the Federal Act on Tax Reform and AHV Financing ("TRAF"), a major reform to better align the Swiss tax system with international tax standards. The legislation was subsequently published in the federal register on August 6, 2019 to take effect on January 1, 2020. As of September 30, 2019, TRAF has not been enacted in all cantons, including the canton of Vaud, as the cantonal legislative procedures are in process. The change in the effective income tax rate for the three months ended September 30, 2019 , compared to the same period ended September 30, 2018 , was primarily due to the transitional income tax impact in Switzerland. The Company has benefited from a longstanding tax ruling from the canton of Vaud through March 31, 2019. During the second quarter, the canton of Vaud concluded the longstanding cantonal tax ruling will only continue to apply through December 31, 2019. The transitional income tax impact, which represents income tax provision at the current full statutory income tax rate of 13.63% without taking account of the tax reform yet to be enacted, resulted in a tax benefit of $5.9 million in the three-month period ended September 30, 2019. In addition, there was a discrete tax benefit of $4.0 million from adjusting deferred tax assets and liabilities in Switzerland in the three months ended September 30, 2019. The change in the effective income tax rate for the six months ended September 30, 2019, compared to the same period ended September 30, 2018 was primarily due to the mix of income and losses in the various tax jurisdictions in which the Company operates and the transitional income tax impact in Switzerland discussed above. In the six months ended September 30, 2019, there was a discrete tax benefit of $1.7 million from adjusting deferred tax assets and liabilities in Switzerland. Furthermore, there were discrete tax benefits of $6.7 million and $1.8 million from the recognition of excess tax benefits in the United States and reversal of uncertain tax positions from the expiration of statutes of limitations, respectively, in the six-month period ended September 30, 2019 , compared with $9.0 million and $1.4 million , respectively, in the six-month period ended September 30, 2018 . As of September 30, 2019 and March 31, 2019 , the total amount of unrecognized tax benefits due to uncertain tax positions was $78.9 million and $76.5 million , respectively, all of which would affect the effective income tax rate if recognized. As of September 30, 2019 and March 31, 2019 , the Company had $36.4 million in non-current income taxes payable including interest and penalties, related to the Company's income tax liability for uncertain tax positions. The Company recognizes interest and penalties related to unrecognized tax positions in income tax provision. As of September 30, 2019 and March 31, 2019 , the Company had $2.8 million and $2.5 million , respectively, of accrued interest and penalties related to uncertain tax positions. Although the Company has adequately provided for uncertain tax positions, the provisions on these positions may change as revised estimates are made or the underlying matters are settled or otherwise resolved. During fiscal year 2020, the Company continues to review its tax positions and provide for or reverse unrecognized tax benefits as they arise. During the next twelve months, it is reasonably possible that the amount of unrecognized tax benefits could increase or decrease significantly due to changes in tax law in various jurisdictions, new tax audits and changes in the U.S. dollar as compared to other currencies. Excluding these factors, uncertain tax positions may decrease by as much as $3.7 million from the lapse of the statutes of limitations in various jurisdictions during the next twelve months.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Sep. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components The following table presents the components of certain balance sheet asset amounts as of September 30 and March 31 , 2019 (in thousands): September 30, 2019 March 31, 2019 Accounts receivable, net: Accounts receivable $ 656,854 $ 573,348 Allowance for doubtful accounts (1,391 ) (84 ) Allowance for sales returns (6,525 ) (6,486 ) Allowance for cooperative marketing arrangements (37,109 ) (35,080 ) Allowance for customer incentive programs (60,619 ) (60,036 ) Allowance for pricing programs (85,241 ) (88,353 ) $ 465,969 $ 383,309 Inventories: Raw materials $ 33,154 $ 40,970 Finished goods 305,160 252,525 $ 338,314 $ 293,495 Other current assets: Value-added tax receivables $ 36,146 $ 34,321 Prepaid expenses and other assets 43,484 34,795 $ 79,630 $ 69,116 Property, plant and equipment, net: Property, plant and equipment at cost $ 366,540 $ 359,345 Accumulated depreciation and amortization (290,972 ) (280,793 ) $ 75,568 $ 78,552 Other assets: Deferred tax assets $ 98,019 $ 90,808 Right-of-use assets (1) 30,149 — Trading investments for deferred compensation plan 22,862 20,363 Investments in privately held companies 16,674 16,022 Other assets 5,721 5,260 $ 173,425 $ 132,453 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information. The following table presents the components of certain balance sheet liability amounts as of September 30 and March 31, 2019 (in thousands): September 30, 2019 March 31, 2019 Accrued and other current liabilities: Accrued personnel expenses $ 74,219 $ 103,166 Accrued sales return liability 36,402 37,749 Accrued customer marketing, pricing and incentive programs 152,163 143,888 Lease liability (1) 11,887 — Warranty accrual 23,531 21,524 Income taxes payable 5,602 6,207 Other current liabilities 121,159 121,363 $ 424,963 $ 433,897 Other non-current liabilities: Warranty accrual $ 13,691 $ 12,705 Obligation for deferred compensation plan 22,862 20,363 Employee benefit plan obligation 51,065 51,448 Lease liability (1) 24,050 — Deferred tax liability 2,050 2,050 Other non-current liabilities 2,685 7,016 $ 116,403 $ 93,582 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2019
Financial Instruments, Owned, at Fair Value [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Measurements The Company considers fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company utilizes the following three-level fair value hierarchy to establish the priorities of the inputs used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted market prices included in Level 1, such as: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): September 30, 2019 March 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 304,783 $ — $ — $ 496,434 $ — $ — Trading investments for deferred compensation plan included in other assets: Money market funds $ 4,563 $ — $ — $ 4,080 $ — $ — Mutual funds 18,299 — — 16,283 — — Total of trading investments for deferred compensation plan $ 22,862 $ — $ — $ 20,363 $ — $ — Currency exchange derivative assets $ — $ 1,233 $ — $ — $ 455 $ — Liabilities: Currency exchange derivative liabilities $ — $ 43 $ — $ — $ 36 $ — Investment Securities The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $22.9 million and $20.4 million as of September 30, 2019 and March 31, 2019 , respectively, based on quoted market prices. Quoted market prices are observable inputs that are classified as Level 1 within the fair value hierarchy. Unrealized gains (losses) related to trading securities for the three and six months ended September 30, 2019 and 2018 were not material and are included in other income (expense), net in the Company's condensed consolidated statements of operations. Equity Method Investments The Company has certain non-marketable investments included in other assets that are accounted for under the equity method of accounting, with a carrying value of $7.2 million and $6.6 million as of September 30, 2019 and March 31, 2019 , respectively. Assets Measured at Fair Value on a Nonrecurring Basis Financial Assets. The Company has certain investments without readily determinable fair values due to the absence of quoted market prices, the inherent lack of liquidity, and the fact that inputs used to measure fair value are unobservable and require management's judgment. When certain events or circumstances indicate that impairment may exist, the Company revalues the investments using various assumptions, including the financial metrics and ratios of comparable public companies. The carrying value is also adjusted for observable price changes with a same or similar security from the same issuer. The amount of these investments included in other assets as of September 30, 2019 and March 31, 2019 was $9.5 million . There was no impairment of these assets during the three and six months ended September 30, 2019 or 2018 . Non-Financial Assets. The Company’s non-financial assets, such as intangible assets and acquisition-related property, plant and equipment, are recorded at fair value only upon initial recognition or if an impairment is recognized. There was no impairment of these assets during the three and six months ended September 30, 2019 or 2018 .

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Under certain agreements with the respective counterparties to the Company’s derivative contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same type with a single net amount payable by one party to the other. However, the Company presents its derivative assets and derivative liabilities on a gross basis on the condensed consolidated balance sheets as of September 30, 2019 and March 31, 2019 . The fair value of the Company’s derivative instruments was not material as of September 30, 2019 or March 31, 2019 . The amount of gain (loss) recognized on derivatives not designated as hedging instruments was not material in all periods presented herein. The following table presents the amounts of gains (losses) on the Company’s derivative instruments designated as hedging instruments and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income for the three and six months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2019 2018 2019 2018 Cash flow hedges $ 2,380 $ 298 $ (132 ) $ 218 Six Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2019 2018 2019 2018 Cash flow hedges $ 1,437 $ 485 $ (358 ) $ 3,069 Cash Flow Hedges The Company enters into cash flow hedge contracts to protect against exchange rate exposure of forecasted inventory purchases. These hedging contracts mature within four months . Gains and losses in the fair value of the effective portion of the hedges are deferred as a component of accumulated other comprehensive loss until the hedged inventory purchases are sold, at which time the gains or losses are reclassified to cost of goods sold. Cash flows from such hedges are classified as operating activities in the condensed consolidated statements of cash flows. Hedging relationships are discontinued when hedging contract is no longer eligible for hedge accounting, or is sold, terminated or exercised, or when Company removes hedge designation for the contract. Gains and losses in the fair value of the effective portion of the discontinued hedges continue to be reported in accumulated other comprehensive loss until the hedged inventory purchases are sold, unless it is probable that the forecasted inventory purchases will not occur by the end of the originally specified time period or within an additional two -month period of time thereafter. In all periods presented herein, there have been no forecasted inventory purchases that were probable to not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. The notional amounts of foreign currency exchange forward contracts outstanding related to forecasted inventory purchases were $89.1 million as of September 30, 2019 and $41.4 million as of March 31, 2019 . The Company had $1.5 million of net gains related to its cash flow hedges included in accumulated other comprehensive loss as of September 30, 2019 which will be reclassified into earnings within the next 12 months. Other Derivatives The Company also enters into foreign currency exchange forward and swap contracts to reduce the short-term effects of currency exchange rate fluctuations on certain receivables or payables denominated in currencies other than the functional currencies of its subsidiaries. These contracts generally mature within one month . The primary risk managed by using forward and swap contracts is the currency exchange rate risk. The gains or losses on these contracts are recognized in other income (expense), net in the condensed consolidated statements of operations based on the changes in fair value. The notional amounts of these contracts outstanding as of September 30, 2019 and March 31, 2019 were $61.7 million and $50.4 million , respectively. Open forward and swap contracts outstanding as of September 30, 2019 and March 31, 2019 consisted of contracts in Mexican Pesos, Japanese Yen, Canadian Dollars, Taiwan New Dollars and Australian Dollars to be settled at future dates at pre-determined exchange rates.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company conducts its impairment analysis of goodwill annually at December 31 and as necessary, if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company’s reporting unit may be less than its carrying amount. There have been no events or circumstances during the six months ended September 30, 2019 that have required the Company to perform an interim assessment of goodwill. The following table summarizes the activities in the Company’s goodwill balance during the six months ended September 30, 2019 (in thousands): As of March 31, 2019 $ 343,684 Currency translation 2 As of September 30, 2019 $ 343,686 The Company's acquired intangible assets subject to amortization were as follows (in thousands): September 30, 2019 March 31, 2019 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademark and trade names $ 36,370 $ (16,120 ) $ 20,250 $ 36,370 $ (13,659 ) $ 22,711 Developed technology 95,207 (68,883 ) 26,324 95,207 (62,341 ) 32,866 Customer contracts/relationships 84,610 (25,920 ) 58,690 84,610 (21,188 ) 63,422 Total $ 216,187 $ (110,923 ) $ 105,264 $ 216,187 $ (97,188 ) $ 118,999

Financing Arrangements

Financing Arrangements	6 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements The Company had several uncommitted, unsecured bank lines of credit aggregating $77.5 million as of September 30, 2019 . There are no financial covenants under these lines of credit with which the Company must comply. As of September 30, 2019 , the Company had outstanding bank guarantees of $20.6 million under these lines of credit. There was no borrowing outstanding under these lines of credit as of September 30, 2019 or March 31, 2019 .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties Changes in the Company’s warranty liability for the three and six months ended September 30, 2019 and 2018 were as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Beginning of the period $ 35,814 $ 28,853 $ 34,229 $ 27,573 Assumed from business acquisition — 351 — 351 Provision 8,509 11,020 17,044 19,320 Settlements (6,727 ) (8,330 ) (13,704 ) (14,882 ) Currency translation (374 ) (140 ) (347 ) (608 ) End of the period $ 37,222 $ 31,754 $ 37,222 $ 31,754 Indemnifications The Company indemnifies certain of its suppliers and customers for losses arising from matters such as intellectual property disputes and product safety defects, subject to certain restrictions. The scope of these indemnities varies, but in some instances, includes indemnification for damages and expenses, including reasonable attorneys’ fees. As of September 30, 2019 , no amounts have been accrued for these indemnification provisions. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under its indemnification arrangements. The Company also indemnifies its current and former directors and certain of its current and former officers. Certain costs incurred for providing such indemnification may be recoverable under various insurance policies. The Company is unable to reasonably estimate the maximum amount that could be payable under these arrangements because these exposures are not limited, the obligations are conditional in nature and the facts and circumstances involved in any situation that might arise are variable. Legal Proceedings From time to time the Company is involved in claims and legal proceedings that arise in the ordinary course of its business. The Company is currently subject to several such claims and a small number of legal proceedings. The Company believes that these matters lack merit and intends to vigorously defend against them. Based on currently available information, the Company does not believe that resolution of pending matters will have a material adverse effect on its financial condition, cash flows or results of operations. However, litigation is subject to inherent uncertainties, and there can be no assurances that the Company’s defenses will be successful or that any such lawsuit or claim would not have a material adverse impact on the Company’s business, financial condition, cash flows or results of operations in a particular period. Any claims or proceedings against the Company, whether meritorious or not, can have an adverse impact because of defense costs, diversion of management and operational resources, negative publicity and other factors. Any failure to obtain a necessary license or other rights, or litigation arising out of intellectual property claims, could adversely affect the Company’s business. Pending Acquisition On September 26, 2019, the Company entered into an agreement to acquire all equity interests of General Workings, Inc. ("Streamlabs") for a total consideration of $89 million in cash, subject to a working capital adjustment, plus an additional earn-out of up to $29 million in stock based on the achievement of certain net revenues for the period beginning on January 1, 2020 and ending on June 30, 2020 (the "Streamlabs Acquisition"). Streamlabs is a leading provider of software and tools for professional streamers. The Streamlabs Acquisition will supplement the Company's portfolio opportunities.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchase Program In March 2017, the Company's Board of Directors approved the 2017 share buyback program, which authorizes the Company to use up to $250.0 million to purchase up to 17.3 million shares of its own shares. The Company's share buyback program is expected to remain in effect for a period of three years . Shares may be repurchased from time to time on the open market, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors. As of September 30, 2019 , $172.4 million is still available for repurchase under the 2017 buyback program. Dividends During the three and six months ended September 30, 2019 , the Company declared and paid cash dividends of CHF 0.73 (USD equivalent of $0.74 ) per share, totaling $124.2 million on the Company's outstanding shares. During the three and six months ended September 30, 2018 , the Company declared and paid cash dividends of CHF 0.67 (USD equivalent of $0.69 ) per share, totaling $114.0 million on the Company's outstanding shares. Any future dividends will be subject to approval of the Company's shareholders. Accumulated Other Comprehensive Income (Loss) The accumulated other comprehensive income (loss) was as follows (in thousands): Accumulated Other Comprehensive Income (Loss) Cumulative (1) Defined (1) Deferred Hedging Losses (1) Total March 31, 2019 $ (92,148 ) $ (13,932 ) $ 382 $ (105,698 ) Other comprehensive income (loss) (4,375 ) 64 1,079 (3,232 ) September 30, 2019 $ (96,523 ) $ (13,868 ) $ 1,461 $ (108,930 ) (1) Tax effect was not significant as of September 30 or March 31, 2019 .

Segment Information

Segment Information	6 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has determined that it operates in a single operating segment that encompasses the design, manufacturing and marketing of peripherals for PCs, tablets and other digital platforms. Operating performance measures are provided directly to the Company's CEO, who is considered to be the Company’s Chief Operating Decision Maker. The CEO periodically reviews information such as sales and adjusted operating income (loss) to make business decisions. These operating performance measures do not include restructuring charges (credits), net, share-based compensation expense, amortization of intangible assets, charges from the purchase accounting effect on inventory, acquisition-related costs or change in fair value of contingent consideration from business acquisition. Sales by product categories and sales channels, excluding intercompany transactions, for the three and six months ended September 30, 2019 and 2018 were as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Pointing Devices $ 132,770 $ 128,337 $ 254,753 $ 256,127 Keyboards & Combos 139,049 131,872 267,728 260,094 PC Webcams 28,748 28,221 56,876 57,895 Tablet & Other Accessories 33,847 36,710 72,186 69,146 Video Collaboration 89,553 57,176 162,977 115,968 Mobile Speakers 57,232 77,100 107,648 111,427 Audio & Wearables 68,018 61,560 126,642 113,714 Gaming 161,014 160,792 295,529 296,818 Smart Home 9,434 9,241 19,298 18,252 Other (1) 26 137 279 185 Total sales $ 719,691 $ 691,146 $ 1,363,916 $ 1,299,626 (1) Other category includes products that the Company currently intends to phase out, or has already phased out, because they are no longer strategic to the Company's business. Sales by geographic region (based on the customers’ locations) for the three and six months ended September 30, 2019 and 2018 were as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Americas $ 296,837 $ 283,714 $ 590,282 $ 560,642 EMEA 231,981 218,300 411,087 378,932 Asia Pacific 190,873 189,132 362,547 360,052 Total sales $ 719,691 $ 691,146 $ 1,363,916 $ 1,299,626 Sales are attributed to countries on the basis of the customers’ locations. The United States, Germany, and China each represented more than 10% of the total consolidated sales for each of the periods presented herein. No other countries represented 10% or more of the Company’s total consolidated sales for the periods presented herein. Switzerland, the Company’s home domicile, represented 4% and 3% of the Company's total consolidated sales for the three and six months ended September 30, 2019 , respectively, and represented 4% and 3% of the Company's total consolidated sales for the three and six months ended September 30, 2018 , respectively. Two customers of the Company each represented more than 10% of the total consolidated gross sales for each of the periods presented herein. Property, plant and equipment, net by geographic region were as follows (in thousands): September 30, 2019 March 31, 2019 Americas $ 27,213 $ 29,813 EMEA 4,545 4,537 Asia Pacific 43,810 44,202 Total property, plant and equipment, net $ 75,568 $ 78,552 Property, plant and equipment, net in the United States and China were $27.1 million and $36.0 million , respectively, as of September 30, 2019 , and $29.8 million and $36.4 million , respectively, as of March 31, 2019 . No other countries represented 10% or more of the Company’s total consolidated property, plant and equipment, net as of September 30, 2019 or March 31, 2019 . Property, plant and equipment, net in Switzerland, the Company’s home domicile, were $1.8 million and $1.7 million as of September 30, 2019 and March 31, 2019 , respectively.

Restructuring

Restructuring	6 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the first quarter of fiscal year 2019, the Company implemented a restructuring plan to streamline and realign the Company's overall organizational structure and reallocate resources to support long-term growth opportunities. In July 2018, the Company's Board of Directors approved additional costs under this restructuring plan, totaling pre-tax charges of approximately $10.0 million to $15.0 million , of which $11.4 million has been recognized cumulatively as of September 30, 2019 . The total charges consisted of cash severance and other personnel costs and are presented as restructuring charges (credit), net in the condensed consolidated statements of operations, and the accrual balances are presented in accrued and other current liabilities in the condensed consolidated balance sheets. During the first quarter of fiscal year 2020, the Company had substantially completed this restructuring plan. The following table summarizes restructuring-related activities during the three and six months ended September 30, 2019 (in thousands): Termination Accrual balance at March 31, 2019 $ 4,389 Charges 478 Cash payments (1,956 ) Accrual balance at June 30, 2019 2,911 Credits (364 ) Cash payments (1,140 ) Accrual balance at September 30, 2019 $ 1,407

Leases

Leases	6 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases The Company is a lessee in several noncancellable operating leases, primarily real estate facilities for office space and for transportation and office equipment. The Company accounts for leases in accordance with Topic 842 (see Note 1) and determines if an arrangement is a lease or contains a lease at contract inception. ROU assets are included in other assets, short-term lease liabilities are included in accrued and other current liabilities, and long-term lease liabilities are included in other non-current liabilities on the Company's unaudited condensed consolidated balance sheet. Leases with an initial term of 12 months or less are not recorded on the balance sheet. For the Company's operating leases, the Company accounts for the lease and non-lease components as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at lease commencement date. Topic 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if the rate cannot be readily determined, its incremental borrowing rate. As the rate implicit in the lease is not readily determinable for the Company's operating leases, the Company generally uses an incremental borrowing rate as the discount rate for the lease. The Company's incremental borrowing rate is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Because the Company does not generally borrow in a collateralized basis, it uses its understanding of what its collateralized credit rating would be as an input to deriving an appropriate incremental borrowing rate. The operating lease right-of-use asset includes any lease payments made and excludes lease incentives. The Company's lease arrangements comprise of operating leases with various expiration dates through June 30, 2031 . The lease term for all of the Company’s leases includes the noncancellable period of the lease. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into our determination of the duration of the lease arrangement. The Company's leases do not contain any material residual value guarantees. For the three and six months ended September 30, 2019 , the total operating lease costs were $3.6 million and $6.9 million, respectively, which included short-term lease costs and sublease income. Total variable lease costs were immaterial during the three and six months ended September 30, 2019 . The total operating and variable lease costs were included in cost of goods sold, marketing and selling, research and development, and general and administrative in the Company's unaudited condensed consolidated statement of operations. As of September 30, 2019 , the weighted-average remaining lease term was 4 years, and the weighted-average discount rate was 2.8% . For the three and six months ended September 30, 2019 , cash paid for amounts included in the measurement of operating lease liabilities was $3.3 million and $6.4 million, respectively, and right-of-use assets obtained in exchange for new operating lease liabilities was $1.5 million and $4.9 million, respectively. Future lease payments included in the measurement of lease liabilities as of September 30, 2019 for the following five fiscal years and thereafter are as follows (in thousands): Operating Lease Remaining 2020 $ 6,900 2021 11,204 2022 9,185 2023 5,600 2024 1,358 Thereafter 4,102 Total lease payments 38,349 Less interest (2,412 ) Present value of lease liabilities $ 35,937 Future minimum lease payments, as defined under the previous lease accounting guidance of ASC Topic 840 under our non-cancelable operating leases as of March 31, 2019 were as follows (in thousands): Years Ending March 31, Operating Lease 2020 $ 11,849 2021 10,002 2022 7,882 2023 5,111 2024 1,130 Thereafter 3,646 Total lease payments $ 39,620

The Company and Summary of Si_2

The Company and Summary of Significant Accounting Policies and Estimates (Policies)	6 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and therefore do not include all the information required by GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2019 , included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on May 17, 2019. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three and six months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2020, or any future periods.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve the fair value of goodwill, intangible assets acquired from business acquisitions, valuation of operating right-of-use assets, warranty liabilities, accruals for customer incentives, cooperative marketing, and pricing programs (Customer Programs) and related breakage when appropriate, accrued sales return liability, allowance for doubtful accounts, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from these estimates.
Recent Accounting Pronouncements Issued and Adopted	Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, "Leases (Topic 842)" (ASU 2016-02 or Topic 842), which requires a lessee to recognize right-of-use (ROU) assets and lease liabilities arising from operating and financing leases with terms longer than 12 months on the consolidated balance sheets and to disclose key information about leasing arrangements. The Company adopted the new standard effective April 1, 2019 and recorded an ROU asset and lease liability related to its operating leases. The Company used the modified retrospective approach with the effective date as the date of initial application. Accordingly, the Company applied the new lease standard prospectively to leases existing or commencing on or after April 1, 2019. Prior period balances and disclosures have not been restated. The Company elected the package of transitional practical expedients, which among other provisions, allows the Company to not reassess under the new standard the Company's prior conclusions about lease identification, lease classification and initial direct cost, for any existing leases on the adoption date. In addition, for operating leases, the Company elected to account for lease and non-lease components as a single lease component. The Company also made an accounting policy election to not recognize lease liabilities and ROU assets on its condensed consolidated balance sheet for leases that, at the lease commencement date, have a lease term of 12 months or less. Adoption of the standard resulted in the recognition of $31.3 million of ROU assets and $37.4 million of lease liabilities related to the Company's leases on its condensed consolidated balance sheet on April 1, 2019. The difference of $6.1 million represented deferred rent for leases that existed as of the date of adoption, which decreased the opening balance of ROU assets. In addition, the prepaid rent balance as of the date of adoption increased the opening balance of ROU assets. The deferred rent and prepaid rent balances were derecognized as of the date of adoption and no adjustment was made to retained earnings. The adoption of the standard did not have an impact on our condensed consolidated statement of operations, comprehensive income, changes in shareholders' equity or cash flows. In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (ASU 2018-15), which clarifies that implementation costs incurred by customers in cloud computing arrangements are deferred if they would be capitalized by customers in software licensing arrangements under the internal-use software guidance. ASU 2018-15 is effective for annual and interim periods in fiscal years beginning after December 15, 2019, with early adoption permitted. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively. The Company adopted this standard effective April 1, 2019 using a prospective adoption method. The adoption of ASU 2018-15 did not have a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements to be Adopted In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (ASU 2016-13), which replaces the incurred-loss impairment methodology and requires immediate recognition of estimated credit losses expected to occur for most financial assets, including trade receivables. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. The Company does not expect the adoption of ASU 2016-13 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements" (ASU 2018-13), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing fair value measurement disclosures. ASU 2018-13 is effective for annual and interim periods in fiscal years beginning after December 15, 2019. Early adoption is permitted. Retrospective adoption is required, except for certain disclosures which will be required to be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. The Company does not expect the adoption of ASU 2018-13 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefits Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" (ASU 2018-14), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing defined benefit plan disclosures. ASU 2018-14 is effective for annual periods in fiscal years ending after December 15, 2020. Retrospective adoption is required and early adoption is permitted. The Company does not expect the adoption of ASU 2018-14 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of computations of basic and diluted net income per share	The following table summarizes the computations of basic and diluted net income per share for the three and six months ended September 30, 2019 and September 30, 2018 (in thousands, except per share amounts): Three Months Ended Six Months Ended 2019 2018 2019 2018 Net income $ 72,933 $ 64,176 $ 118,278 $ 102,642 Shares used in net income per share computation: Weighted average shares outstanding - basic 166,662 165,630 166,484 165,474 Effect of potentially dilutive equivalent shares 2,365 3,604 2,430 3,522 Weighted average shares outstanding - diluted 169,027 169,234 168,914 168,996 Net income per share: Basic $ 0.44 $ 0.39 $ 0.71 $ 0.62 Diluted $ 0.43 $ 0.38 $ 0.70 $ 0.61

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of share-based compensation expense and related tax benefit recognized	The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and six months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Cost of goods sold $ 1,184 $ 791 $ 2,342 $ 1,921 Marketing and selling 6,951 4,864 13,800 10,650 Research and development 2,248 1,935 4,402 3,484 General and administrative 3,869 4,459 5,926 9,253 Total share-based compensation expense 14,252 12,049 26,470 25,308 Income tax benefit (2,723 ) (2,650 ) (9,523 ) (12,179 ) Total share-based compensation expense, net of income tax benefit $ 11,529 $ 9,399 $ 16,947 $ 13,129

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Sep. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Schedule of components of balance sheet asset	The following table presents the components of certain balance sheet asset amounts as of September 30 and March 31 , 2019 (in thousands): September 30, 2019 March 31, 2019 Accounts receivable, net: Accounts receivable $ 656,854 $ 573,348 Allowance for doubtful accounts (1,391 ) (84 ) Allowance for sales returns (6,525 ) (6,486 ) Allowance for cooperative marketing arrangements (37,109 ) (35,080 ) Allowance for customer incentive programs (60,619 ) (60,036 ) Allowance for pricing programs (85,241 ) (88,353 ) $ 465,969 $ 383,309 Inventories: Raw materials $ 33,154 $ 40,970 Finished goods 305,160 252,525 $ 338,314 $ 293,495 Other current assets: Value-added tax receivables $ 36,146 $ 34,321 Prepaid expenses and other assets 43,484 34,795 $ 79,630 $ 69,116 Property, plant and equipment, net: Property, plant and equipment at cost $ 366,540 $ 359,345 Accumulated depreciation and amortization (290,972 ) (280,793 ) $ 75,568 $ 78,552 Other assets: Deferred tax assets $ 98,019 $ 90,808 Right-of-use assets (1) 30,149 — Trading investments for deferred compensation plan 22,862 20,363 Investments in privately held companies 16,674 16,022 Other assets 5,721 5,260 $ 173,425 $ 132,453 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information.
Schedule of components of balance sheet liability	The following table presents the components of certain balance sheet liability amounts as of September 30 and March 31, 2019 (in thousands): September 30, 2019 March 31, 2019 Accrued and other current liabilities: Accrued personnel expenses $ 74,219 $ 103,166 Accrued sales return liability 36,402 37,749 Accrued customer marketing, pricing and incentive programs 152,163 143,888 Lease liability (1) 11,887 — Warranty accrual 23,531 21,524 Income taxes payable 5,602 6,207 Other current liabilities 121,159 121,363 $ 424,963 $ 433,897 Other non-current liabilities: Warranty accrual $ 13,691 $ 12,705 Obligation for deferred compensation plan 22,862 20,363 Employee benefit plan obligation 51,065 51,448 Lease liability (1) 24,050 — Deferred tax liability 2,050 2,050 Other non-current liabilities 2,685 7,016 $ 116,403 $ 93,582 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2019
Financial Instruments, Owned, at Fair Value [Abstract]
Schedule of financial assets and liabilities accounted for at fair value and classified by level within the fair value hierarchy	The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): September 30, 2019 March 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 304,783 $ — $ — $ 496,434 $ — $ — Trading investments for deferred compensation plan included in other assets: Money market funds $ 4,563 $ — $ — $ 4,080 $ — $ — Mutual funds 18,299 — — 16,283 — — Total of trading investments for deferred compensation plan $ 22,862 $ — $ — $ 20,363 $ — $ — Currency exchange derivative assets $ — $ 1,233 $ — $ — $ 455 $ — Liabilities: Currency exchange derivative liabilities $ — $ 43 $ — $ — $ 36 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cash Flow Hedges Included in AOCI	The following table presents the amounts of gains (losses) on the Company’s derivative instruments designated as hedging instruments and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income for the three and six months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2019 2018 2019 2018 Cash flow hedges $ 2,380 $ 298 $ (132 ) $ 218 Six Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2019 2018 2019 2018 Cash flow hedges $ 1,437 $ 485 $ (358 ) $ 3,069

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of activity in the goodwill account	The following table summarizes the activities in the Company’s goodwill balance during the six months ended September 30, 2019 (in thousands): As of March 31, 2019 $ 343,684 Currency translation 2 As of September 30, 2019 $ 343,686
Schedule of intangible assets subject to amortization	The Company's acquired intangible assets subject to amortization were as follows (in thousands): September 30, 2019 March 31, 2019 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademark and trade names $ 36,370 $ (16,120 ) $ 20,250 $ 36,370 $ (13,659 ) $ 22,711 Developed technology 95,207 (68,883 ) 26,324 95,207 (62,341 ) 32,866 Customer contracts/relationships 84,610 (25,920 ) 58,690 84,610 (21,188 ) 63,422 Total $ 216,187 $ (110,923 ) $ 105,264 $ 216,187 $ (97,188 ) $ 118,999

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of warranty liability	Changes in the Company’s warranty liability for the three and six months ended September 30, 2019 and 2018 were as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Beginning of the period $ 35,814 $ 28,853 $ 34,229 $ 27,573 Assumed from business acquisition — 351 — 351 Provision 8,509 11,020 17,044 19,320 Settlements (6,727 ) (8,330 ) (13,704 ) (14,882 ) Currency translation (374 ) (140 ) (347 ) (608 ) End of the period $ 37,222 $ 31,754 $ 37,222 $ 31,754

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of components of accumulated other comprehensive income (loss)	The accumulated other comprehensive income (loss) was as follows (in thousands): Accumulated Other Comprehensive Income (Loss) Cumulative (1) Defined (1) Deferred Hedging Losses (1) Total March 31, 2019 $ (92,148 ) $ (13,932 ) $ 382 $ (105,698 ) Other comprehensive income (loss) (4,375 ) 64 1,079 (3,232 ) September 30, 2019 $ (96,523 ) $ (13,868 ) $ 1,461 $ (108,930 ) (1) Tax effect was not significant as of September 30 or March 31, 2019 .

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of net sales by product categories, excluding intercompany transactions	Sales by product categories and sales channels, excluding intercompany transactions, for the three and six months ended September 30, 2019 and 2018 were as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Pointing Devices $ 132,770 $ 128,337 $ 254,753 $ 256,127 Keyboards & Combos 139,049 131,872 267,728 260,094 PC Webcams 28,748 28,221 56,876 57,895 Tablet & Other Accessories 33,847 36,710 72,186 69,146 Video Collaboration 89,553 57,176 162,977 115,968 Mobile Speakers 57,232 77,100 107,648 111,427 Audio & Wearables 68,018 61,560 126,642 113,714 Gaming 161,014 160,792 295,529 296,818 Smart Home 9,434 9,241 19,298 18,252 Other (1) 26 137 279 185 Total sales $ 719,691 $ 691,146 $ 1,363,916 $ 1,299,626 (1) Other category includes products that the Company currently intends to phase out, or has already phased out, because they are no longer strategic to the Company's business.
Schedule of net sales to unaffiliated customers by geographic region	Sales by geographic region (based on the customers’ locations) for the three and six months ended September 30, 2019 and 2018 were as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Americas $ 296,837 $ 283,714 $ 590,282 $ 560,642 EMEA 231,981 218,300 411,087 378,932 Asia Pacific 190,873 189,132 362,547 360,052 Total sales $ 719,691 $ 691,146 $ 1,363,916 $ 1,299,626
Schedule of long-lived assets by geographic region	Property, plant and equipment, net by geographic region were as follows (in thousands): September 30, 2019 March 31, 2019 Americas $ 27,213 $ 29,813 EMEA 4,545 4,537 Asia Pacific 43,810 44,202 Total property, plant and equipment, net $ 75,568 $ 78,552

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Costs	The following table summarizes restructuring-related activities during the three and six months ended September 30, 2019 (in thousands): Termination Accrual balance at March 31, 2019 $ 4,389 Charges 478 Cash payments (1,956 ) Accrual balance at June 30, 2019 2,911 Credits (364 ) Cash payments (1,140 ) Accrual balance at September 30, 2019 $ 1,407

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Maturity of lease liabilities under non-cancelable operating leases	Future lease payments included in the measurement of lease liabilities as of September 30, 2019 for the following five fiscal years and thereafter are as follows (in thousands): Operating Lease Remaining 2020 $ 6,900 2021 11,204 2022 9,185 2023 5,600 2024 1,358 Thereafter 4,102 Total lease payments 38,349 Less interest (2,412 ) Present value of lease liabilities $ 35,937
Schedule of future minimum rental payments under non-cancelable operating leases	Future minimum lease payments, as defined under the previous lease accounting guidance of ASC Topic 840 under our non-cancelable operating leases as of March 31, 2019 were as follows (in thousands): Years Ending March 31, Operating Lease 2020 $ 11,849 2021 10,002 2022 7,882 2023 5,111 2024 1,130 Thereafter 3,646 Total lease payments $ 39,620

The Company and Summary of Si_3

The Company and Summary of Significant Accounting Policies and Estimates - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Apr. 01, 2019
Accounting Policies [Abstract]
Right-of-use assets	$ 30,149	$ 31,300
Lease liabilities	$ 35,937	37,400
Deferred rent for leases		$ 6,100

Net Income Per Share - Computa

Net Income Per Share - Computation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 72,933	$ 64,176	$ 118,278	$ 102,642
Shares used in net income per share computation:
Weighted average shares outstanding - basic (in shares)	166,662	165,630	166,484	165,474
Effect of potentially dilutive equivalent shares (in shares)	2,365	3,604	2,430	3,522
Weighted average shares outstanding - diluted (in shares)	169,027	169,234	168,914	168,996
Net income per share:
Basic (in dollars per share)	$ 0.44	$ 0.39	$ 0.71	$ 0.62
Diluted (in dollars per share)	$ 0.43	$ 0.38	$ 0.70	$ 0.61
Anti-dilutive equivalents shares excluded (in shares)	1,900	800	2,000	1,200

Employee Benefit Plans - Share

Employee Benefit Plans - Share-based Compensation Expenses and Related Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 14,252	$ 12,049	$ 26,470	$ 25,308
Income tax benefit	(2,723)	(2,650)	(9,523)	(12,179)
Total share-based compensation expense, net of income tax benefit	11,529	9,399	16,947	13,129
Cost of goods sold
Share-based compensation expense and related tax benefit
Total share-based compensation expense	1,184	791	2,342	1,921
Marketing and selling
Share-based compensation expense and related tax benefit
Total share-based compensation expense	6,951	4,864	13,800	10,650
Research and development
Share-based compensation expense and related tax benefit
Total share-based compensation expense	2,248	1,935	4,402	3,484
General and administrative
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 3,869	$ 4,459	$ 5,926	$ 9,253

Employee Benefit Plans - Narra

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation
Share-based compensation expenses capitalized as inventory			$ 0.9	$ 0.8
Defined benefit plans
Net periodic benefit cost	$ 2.4	$ 2.2	$ 4.8	$ 4.5

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Operating Loss Carryforwards [Line Items]
Provision for (benefit from) income taxes	$ (2,598)	$ 6,203	$ 3,938	$ 986
Effective income tax rates	(3.70%)	8.80%	3.20%	1.00%
Full statutory income tax rate	13.63%
Transitional income tax benefit	$ 5,900
Discrete tax benefits from reversal of uncertain tax positions	1,800	$ 1,400
Unrecognized tax benefits	78,900		$ 78,900		$ 76,500
Accrued interest and penalties related to uncertain tax positions	2,800		2,800		$ 2,500
Expected decrease in uncertain tax positions	3,700		3,700
Non-current income tax payable
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	36,400		36,400
UNITED STATES
Operating Loss Carryforwards [Line Items]
Discrete tax benefits from recognition of excess tax benefits in the United States	6,700	$ 9,000
Switzerland
Operating Loss Carryforwards [Line Items]
Tax benefit from remeasurement of deferred income tax and benefit	$ 4,000		$ 1,700

Balance Sheet Components - Com

Balance Sheet Components - Components of Certain Balance Sheet Asset Amounts (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
Accounts receivable, net:
Accounts receivable	$ 656,854		$ 573,348
Accounts receivable, net	465,969		383,309
Inventories:
Raw materials	33,154		40,970
Finished goods	305,160		252,525
Inventory, net	338,314		293,495
Other current assets:
Value-added tax receivables	36,146		34,321
Prepaid expenses and other assets	43,484		34,795
Other current assets, total	79,630		69,116
Property, plant and equipment, net:
Property, plant and equipment at cost	366,540		359,345
Accumulated depreciation and amortization	(290,972)		(280,793)
Property, plant and equipment, net	75,568		78,552
Other assets:
Deferred tax assets	98,019		90,808
Right-of-use assets	30,149	$ 31,300
Trading investments for deferred compensation plan	22,862		20,363
Investments in privately held companies	16,674		16,022
Other assets	5,721		5,260
Other assets, total	173,425		132,453
Allowance for doubtful accounts
Accounts receivable, net:
Valuation allowance for accounts receivable	(1,391)		(84)
Allowance for sales returns
Accounts receivable, net:
Valuation allowance for accounts receivable	(6,525)		(6,486)
Allowance for cooperative marketing arrangements
Accounts receivable, net:
Valuation allowance for accounts receivable	(37,109)		(35,080)
Allowance for customer incentive programs
Accounts receivable, net:
Valuation allowance for accounts receivable	(60,619)		(60,036)
Allowance for pricing programs
Accounts receivable, net:
Valuation allowance for accounts receivable	$ (85,241)		$ (88,353)

Balance Sheet Components - C_2

Balance Sheet Components - Components of Certain Balance Sheet Liability Amounts (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Accrued and other current liabilities:
Accrued personnel expenses	$ 74,219	$ 103,166
Accrued sales return liability	36,402	37,749
Accrued customer marketing, pricing and incentive programs	152,163	143,888
Lease liability	11,887
Warranty accrual	23,531	21,524
Income taxes payable	5,602	6,207
Other current liabilities	121,159	121,363
Accrued and other current liabilities	424,963	433,897
Other non-current liabilities:
Warranty accrual	13,691	12,705
Obligation for deferred compensation plan	22,862	20,363
Employee benefit plan obligation	51,065	51,448
Lease liability	24,050
Deferred tax liability	2,050	2,050
Other non-current liabilities	2,685	7,016
Non-current liabilities	$ 116,403	$ 93,582

Fair Value Measurements - Fina

Fair Value Measurements - Financial Assets and Liabilities, Classified by Level (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Assets:
Trading investments for deferred compensation plan	$ 22,862	$ 20,363
Fair Value, Measurements, Recurring | Level 1
Assets:
Cash equivalents	304,783	496,434
Trading investments for deferred compensation plan	22,862	20,363
Fair Value, Measurements, Recurring | Level 1 | Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	0	0
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Assets:
Trading investments for deferred compensation plan	4,563	4,080
Fair Value, Measurements, Recurring | Level 1 | Mutual funds
Assets:
Trading investments for deferred compensation plan	18,299	16,283
Fair Value, Measurements, Recurring | Level 2
Assets:
Cash equivalents	0	0
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 2 | Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	1,233	455
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	43	36
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 2 | Mutual funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 3
Assets:
Cash equivalents	0	0
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	0	0
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 3 | Mutual funds
Assets:
Trading investments for deferred compensation plan	$ 0	$ 0

Fair Value Measurements - Narr

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading investments for deferred compensation plan	$ 22,862,000		$ 22,862,000		$ 20,363,000
Equity method investments	7,200,000		7,200,000		6,600,000
Cost method investments	9,500,000		9,500,000		9,500,000
Impairment of non-marketable investments	0	$ 0	0	$ 0
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading investments for deferred compensation plan	$ 22,862,000		$ 22,862,000		$ 20,363,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	$ 2,380	$ 298	$ 1,437	$ 485
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	(132)	218	(358)	3,069
Designated as hedging instruments | Cash flow hedges
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	2,380	298	1,437	485
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	$ (132)	$ 218	$ (358)	$ 3,069

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2019	Mar. 31, 2019
Derivative [Line Items]
Additional term to recognize derivative loss in accumulated other comprehensive loss	2 months
Not Designated as Hedging Instrument | Foreign Exchange Forward And Swap
Derivative [Line Items]
Derivative term of contract	1 month
Derivative, notional amount	$ 61.7	$ 50.4
Foreign Exchange Forward | Designated as hedging instruments | Cash flow hedges
Derivative [Line Items]
Derivative term of contract	4 months
Derivative, notional amount	$ 89.1	$ 41.4
Cash flow hedge gain to be reclassified within twelve months	$ 1.5

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Activity In Goodwill Balance (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2019USD ($)
Goodwill
Balance at the beginning of the period	$ 343,684
Currency translation	2
Balance at the end of the period	$ 343,686

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 216,187	$ 216,187
Accumulated Amortization	(110,923)	(97,188)
Net Carrying Amount	105,264	118,999
Trademark and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	36,370	36,370
Accumulated Amortization	(16,120)	(13,659)
Net Carrying Amount	20,250	22,711
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	95,207	95,207
Accumulated Amortization	(68,883)	(62,341)
Net Carrying Amount	26,324	32,866
Customer contracts/relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	84,610	84,610
Accumulated Amortization	(25,920)	(21,188)
Net Carrying Amount	$ 58,690	$ 63,422

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($)	Sep. 30, 2019	Mar. 31, 2019
Financing Arrangements
Outstanding borrowings	$ 0	$ 0
Line of Credit
Financing Arrangements
Maximum borrowing capacity	77,500,000
Outstanding bank guarantees	$ 20,600,000

Commitments and Contingencies -

Commitments and Contingencies - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Changes in the warranty liability:
Beginning of the period	$ 35,814	$ 28,853	$ 34,229	$ 27,573
Assumed from business acquisition	0	351	0	351
Provision	8,509	11,020	17,044	19,320
Settlements	(6,727)	(8,330)	(13,704)	(14,882)
Currency translation	(374)	(140)	(347)	(608)
End of the period	$ 37,222	$ 31,754	$ 37,222	$ 31,754

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($)	Oct. 31, 2019	Sep. 30, 2019
Indemnification agreement
Other Commitments [Line Items]
Amount accrued for indemnification provisions		$ 0
Streamlabs | Subsequent Event | Forecast
Other Commitments [Line Items]
Total cash consideration	$ 89,000,000
Maximum additional earn-out	$ 29,000,000

Shareholders' Equity - Narrati

Shareholders' Equity - Narrative (Details)	1 Months Ended	3 Months Ended				6 Months Ended
	Mar. 31, 2017USD ($)shares	Sep. 30, 2019SFr / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018SFr / shares	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2019SFr / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018SFr / shares	Sep. 30, 2018USD ($)$ / shares
Stockholders' Equity Note [Abstract]
Authorized amount in buyback program | $	$ 250,000,000
Shares authorized to be repurchased (in shares) | shares	17,300,000
Period to complete share repurchase program	3 years
Remaining number of shares authorized to be repurchased (in shares) | shares		172,400,000	172,400,000			172,400,000	172,400,000
Cash dividends per share (in dollars/CHF per share) | (per share)		SFr 0.73	$ 0.74	SFr 0.67	$ 0.69	SFr 0.73	$ 0.74	SFr 0.67	$ 0.69
Payment of cash dividends | $			$ 124,200,000		$ 114,000,000		$ 124,180,000		$ 113,971,000

Shareholders' Equity - Compone

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	$ 1,198,034	$ 1,055,260	$ 1,176,339	$ 1,050,557
Other comprehensive income (loss)	(1,527)	(2,224)	(3,232)	(4,313)
End of the period	1,167,537	1,012,164	1,167,537	1,012,164
Total
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(107,403)	(95,544)	(105,698)	(93,455)
End of the period	(108,930)	$ (97,768)	(108,930)	$ (97,768)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(92,148)
Other comprehensive income (loss)			(4,375)
End of the period	(96,523)		(96,523)
Defined Benefit Plan
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(13,932)
Other comprehensive income (loss)			64
End of the period	(13,868)		(13,868)
Deferred Hedging Losses
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			382
Other comprehensive income (loss)			1,079
End of the period	$ 1,461		$ 1,461

Segment Information - Net Sale

Segment Information - Net Sales by Product Family- Excluding Intercompany Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net sales	$ 719,691	$ 691,146	$ 1,363,916	$ 1,299,626
Pointing Devices
Segment Reporting Information [Line Items]
Net sales	132,770	128,337	254,753	256,127
Keyboards & Combos
Segment Reporting Information [Line Items]
Net sales	139,049	131,872	267,728	260,094
PC Webcams
Segment Reporting Information [Line Items]
Net sales	28,748	28,221	56,876	57,895
Tablet & Other Accessories
Segment Reporting Information [Line Items]
Net sales	33,847	36,710	72,186	69,146
Video Collaboration
Segment Reporting Information [Line Items]
Net sales	89,553	57,176	162,977	115,968
Mobile Speakers
Segment Reporting Information [Line Items]
Net sales	57,232	77,100	107,648	111,427
Audio & Wearables
Segment Reporting Information [Line Items]
Net sales	68,018	61,560	126,642	113,714
Gaming
Segment Reporting Information [Line Items]
Net sales	161,014	160,792	295,529	296,818
Smart Home
Segment Reporting Information [Line Items]
Net sales	9,434	9,241	19,298	18,252
Other
Segment Reporting Information [Line Items]
Net sales	$ 26	$ 137	$ 279	$ 185

Segment Information - Net Sa_2

Segment Information - Net Sales and Long-Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	$ 719,691	$ 691,146	$ 1,363,916	$ 1,299,626
Property, plant and equipment, net	75,568		75,568		$ 78,552
Americas
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	296,837	283,714	590,282	560,642
Property, plant and equipment, net	27,213		27,213		29,813
EMEA
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	231,981	218,300	411,087	378,932
Property, plant and equipment, net	4,545		4,545		4,537
Asia Pacific
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	190,873	$ 189,132	362,547	$ 360,052
Property, plant and equipment, net	$ 43,810		$ 43,810		$ 44,202

Segment Information - Narrativ

Segment Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Segment Reporting Information [Line Items]
Long lived assets	$ 75,568		$ 75,568		$ 78,552
United States
Segment Reporting Information [Line Items]
Long lived assets	27,100		27,100		29,800
China
Segment Reporting Information [Line Items]
Long lived assets	36,000		36,000		36,400
Switzerland
Segment Reporting Information [Line Items]
Long lived assets	$ 1,800		$ 1,800		$ 1,700
Geographic Concentration | Consolidated net sales from continuing operations | Switzerland
Segment Reporting Information [Line Items]
Percentage of consolidated net sales	4.00%	4.00%	3.00%	3.00%

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jul. 31, 2018
Termination Benefits
Restructuring Cost and Reserve [Line Items]
Cumulative charges recognized	$ 11.4
Minimum
Restructuring Cost and Reserve [Line Items]
Approved cost of restructuring		$ 10
Maximum
Restructuring Cost and Reserve [Line Items]
Approved cost of restructuring		$ 15

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Restructuring Reserve [Roll Forward]
Charges/Credits	$ (364)		$ 119	$ 114	$ 10,040
Termination Benefits
Restructuring Reserve [Roll Forward]
Accrual beginning balance	2,911	$ 4,389		4,389
Charges/Credits	(364)	478
Cash payments	(1,140)	(1,956)
Accrual ending balance	$ 1,407	$ 2,911		$ 1,407

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Leases [Abstract]
Operating lease costs	$ 3.6	$ 6.9
Weighted-average remaining lease term	4 years	4 years
Weighted-average discount rate	2.80%	2.80%
Cash paid for operating lease liabilities	$ 3.3	$ 6.4
Right-of-use assets obtained in exchange for operating lease liabilities	$ 1.5	$ 4.9

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Apr. 01, 2019
Leases [Abstract]
Remaining 2020	$ 6,900
2021	11,204
2022	9,185
2023	5,600
2024	1,358
Thereafter	4,102
Total lease payments	38,349
Less interest	(2,412)
Present value of lease liabilities	$ 35,937	$ 37,400

Leases - Future Minimum Rental

Leases - Future Minimum Rental Payments (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2020	$ 11,849
2021	10,002
2022	7,882
2023	5,111
2024	1,130
Thereafter	3,646
Total lease payments	$ 39,620

Uncategorized Items - logi10-qq

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (10,882,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (10,882,000)