Logitech International (LOGI) 10-Q 25 Jan 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Dec. 31, 2023	Jan. 11, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
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 Three	3930 North First Street
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
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 Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		154,819,963
Entity Central Index Key	0001032975
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 1,255,473	$ 1,269,925	$ 3,286,980	$ 3,578,741
Cost of goods sold	726,252	789,489	1,937,367	2,193,735
Amortization of intangible assets	2,441	3,168	8,569	9,355
Gross profit	526,780	477,268	1,341,044	1,375,651
Operating expenses:
Marketing and selling	189,175	196,653	544,716	628,122
Research and development	72,704	65,640	211,822	210,166
General and administrative	39,711	29,766	116,546	92,215
Amortization of intangible assets and acquisition-related costs	2,276	2,810	8,279	9,052
Restructuring charges, net	839	5,654	2,562	16,471
Total operating expenses	304,705	300,523	883,925	956,026
Operating income	222,075	176,745	457,119	419,625
Interest income	12,826	4,665	34,508	9,573
Other income (expense), net	189	1,406	(13,827)	(18,367)
Income before income taxes	235,090	182,816	477,800	410,831
Provision for (benefit from) income taxes	(9,594)	42,663	33,272	87,751
Net income	$ 244,684	$ 140,153	$ 444,528	$ 323,080
Net income per share:
Basic (in dollars per share)	$ 1.57	$ 0.87	$ 2.82	$ 1.98
Diluted (in dollars per share)	$ 1.55	$ 0.86	$ 2.80	$ 1.96
Weighted average shares used to compute net income per share:
Basic (in shares)	155,933	161,244	157,568	163,042
Diluted (in shares)	157,440	162,529	158,843	164,427

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 244,684	$ 140,153	$ 444,528	$ 323,080
Currency translation gain (loss):
Currency translation gain (loss), net of taxes	25,319	33,076	13,168	(6,207)
Reclassification of cumulative translation adjustments included in other income (expense), net	0	219	0	219
Defined benefit plans:
Net gain (loss) and prior service costs, net of taxes	0	(104)	0	8
Reclassification of amortization included in other income (expense), net	500	(112)	252	(338)
Hedging gain (loss):
Deferred hedging gain (loss), net of taxes	(2,539)	(6,325)	(1,165)	5,239
Reclassification of hedging loss (gain) included in cost of goods sold	(863)	(4,728)	3,493	(11,766)
Total other comprehensive income (loss)	22,417	22,026	15,748	(12,845)
Total comprehensive income	$ 267,101	$ 162,179	$ 460,276	$ 310,235

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,412,650	$ 1,149,023
Accounts receivable, net	685,777	630,382
Inventories	447,262	682,893
Other current assets	150,754	142,876
Total current assets	2,696,443	2,605,174
Non-current assets:
Property, plant and equipment, net	119,200	121,503
Goodwill	463,978	454,610
Other intangible assets, net	53,724	63,173
Other assets	326,594	316,293
Total assets	3,659,939	3,560,753
Current liabilities:
Accounts payable	527,988	406,968
Accrued and other current liabilities	673,435	643,139
Total current liabilities	1,201,423	1,050,107
Non-current liabilities:
Income taxes payable	111,924	106,391
Other non-current liabilities	156,491	146,695
Total liabilities	1,469,838	1,303,193
Commitments and contingencies (Note 10)
Shareholders’ equity:
Registered shares, CHF 0.25 par value: Issued shares — 173,106 at December 31, 2023 and March 31, 2023 Additional shares that may be issued out of conditional capital — 50,000 at December 31, 2023 and March 31, 2023 Additional shares that may be issued out of authorized capital — 17,311 at December 31, 2023 and March 31, 2023	30,148	30,148
Additional paid-in capital	60,892	127,380
Shares in treasury, at cost — 18,108 at December 31, 2023 and 13,763 at March 31, 2023	(1,251,314)	(977,266)
Retained earnings	3,434,904	3,177,575
Accumulated other comprehensive loss	(84,529)	(100,277)
Total shareholders’ equity	2,190,101	2,257,560
Total liabilities and shareholders’ equity	$ 3,659,939	$ 3,560,753

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - SFr / shares shares in Thousands	Dec. 31, 2023	Mar. 31, 2023
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)	17,311	17,311
Treasury, at cost, shares (in shares)	18,108	13,763

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 244,684	$ 140,153	$ 444,528	$ 323,080
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation			48,874	56,698
Amortization of intangible assets			16,583	18,173
Loss on investments			12,213	13,065
Share-based compensation expense			64,192	51,740
Deferred income taxes			(9,515)	24,228
Other			336	1,411
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net			(46,786)	(123,547)
Inventories			237,969	126,309
Other assets			3,698	20,918
Accounts payable			120,383	(134,848)
Accrued and other liabilities			13,536	(60,060)
Net cash provided by operating activities			906,011	317,167
Cash flows from investing activities:
Purchases of property, plant and equipment			(45,585)	(69,122)
Investment in privately held companies			(406)	(2,626)
Acquisitions, net of cash acquired			(14,138)	(8,527)
Purchases of deferred compensation investments			(7,893)	(5,186)
Proceeds from sales of deferred compensation investments			8,193	4,750
Net cash used in investing activities			(59,829)	(80,711)
Cash flows from financing activities:
Payment of cash dividends			(182,305)	(158,680)
Payment of contingent consideration for business acquisition			(5,002)	(5,954)
Purchases of registered shares			(376,775)	(327,731)
Proceeds from exercises of stock options and purchase rights			15,319	16,064
Tax withholdings related to net share settlements of restricted stock units			(28,596)	(28,734)
Other financing activities			(1,116)	0
Net cash used in financing activities			(578,475)	(505,035)
Effect of exchange rate changes on cash and cash equivalents			(4,080)	(24,006)
Net increase (decrease) in cash and cash equivalents			263,627	(292,585)
Cash and cash equivalents, beginning of the period			1,149,023	1,328,716	$ 1,328,716
Cash and cash equivalents, end of the period	$ 1,412,650	$ 1,036,131	1,412,650	1,036,131	$ 1,149,023
Non-cash investing and financing activities:
Property, plant and equipment purchased during the period and included in period end liability accounts			8,738	9,250
Right-of-use assets obtained in exchange for operating lease liabilities			4,621	42,814
Supplemental cash flow information:
Income taxes paid, net			$ 32,777	$ 65,154

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Registered Shares	Additional Paid-in Capital	Treasury Shares	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning of the period at Mar. 31, 2022	$ 2,398,738	$ 30,148	$ 129,925	$ (632,893)	$ 2,975,681	$ (104,123)
Beginning of the period (in shares) at Mar. 31, 2022		173,106
Beginning of the period (in shares) at Mar. 31, 2022				7,855
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	310,235				323,080	(12,845)
Purchases of registered shares	(327,731)			$ (327,731)
Purchases of registered shares (in shares)				5,967
Sales of shares upon exercise of stock options and purchase rights	16,064		(930)	$ 16,994
Sales of shares upon exercise of stock options and purchase rights (in shares)				(423)
Issuance of shares upon vesting of restricted stock units	(28,734)		(65,758)	$ 37,024
Issuance of shares upon vesting of restricted stock units (in shares)				(929)
Share-based compensation	52,775		52,775
Cash dividends	(162,681)				(162,681)
End of the period at Dec. 31, 2022	2,258,666	$ 30,148	116,012	$ (906,606)	3,136,080	(116,968)
End of the period (in shares) at Dec. 31, 2022		173,106
End of the period (in shares) at Dec. 31, 2022				12,470
Beginning of the period at Sep. 30, 2022	2,168,561	$ 30,148	106,130	$ (824,650)	2,995,927	(138,994)
Beginning of the period (in shares) at Sep. 30, 2022		173,106
Beginning of the period (in shares) at Sep. 30, 2022				10,943
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	162,179				140,153	22,026
Purchases of registered shares	(90,170)			$ (90,170)
Purchases of registered shares (in shares)				1,746
Sales of shares upon exercise of stock options and purchase rights	3,214		(2,582)	$ 5,796
Sales of shares upon exercise of stock options and purchase rights (in shares)				(155)
Issuance of shares upon vesting of restricted stock units	(1,992)		(4,410)	$ 2,418
Issuance of shares upon vesting of restricted stock units (in shares)				(64)
Share-based compensation	16,874		16,874
End of the period at Dec. 31, 2022	2,258,666	$ 30,148	116,012	$ (906,606)	3,136,080	(116,968)
End of the period (in shares) at Dec. 31, 2022		173,106
End of the period (in shares) at Dec. 31, 2022				12,470
Beginning of the period at Mar. 31, 2023	$ 2,257,560	$ 30,148	127,380	$ (977,266)	3,177,575	(100,277)
Beginning of the period (in shares) at Mar. 31, 2023		173,106
Beginning of the period (in shares) at Mar. 31, 2023	13,763			13,763
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	$ 460,276				444,528	15,748
Purchases of registered shares	$ (391,594)			$ (391,594)
Purchases of registered shares (in shares)	3,000			5,628
Sales of shares upon exercise of stock options and purchase rights	$ 15,319		(15,755)	$ 31,074
Sales of shares upon exercise of stock options and purchase rights (in shares)				(315)
Issuance of shares upon vesting of restricted stock units	(28,596)		(115,068)	$ 86,472
Issuance of shares upon vesting of restricted stock units (in shares)				(968)
Share-based compensation	64,335		64,335
Cash dividends	(187,199)				(187,199)
End of the period at Dec. 31, 2023	$ 2,190,101	$ 30,148	60,892	$ (1,251,314)	3,434,904	(84,529)
End of the period (in shares) at Dec. 31, 2023		173,106
End of the period (in shares) at Dec. 31, 2023	18,108			18,108
Beginning of the period at Sep. 30, 2023	$ 2,077,265	$ 30,148	47,311	$ (1,083,468)	3,190,220	(106,946)
Beginning of the period (in shares) at Sep. 30, 2023		173,106
Beginning of the period (in shares) at Sep. 30, 2023				16,029
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	267,101				244,684	22,417
Purchases of registered shares	(172,422)			$ (172,422)
Purchases of registered shares (in shares)				2,126
Issuance of shares upon vesting of restricted stock units	(2,372)		(6,948)	$ 4,576
Issuance of shares upon vesting of restricted stock units (in shares)				(47)
Share-based compensation	20,529		20,529
End of the period at Dec. 31, 2023	$ 2,190,101	$ 30,148	$ 60,892	$ (1,251,314)	$ 3,434,904	$ (84,529)
End of the period (in shares) at Dec. 31, 2023		173,106
End of the period (in shares) at Dec. 31, 2023	18,108			18,108

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical)	9 Months Ended
	Dec. 31, 2023 SFr / shares	Dec. 31, 2023 $ / shares	Dec. 31, 2022 SFr / shares	Dec. 31, 2022 $ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in dollars per share) | (per share)	SFr 1.06	$ 1.19	SFr 0.96	$ 1

The Company and Summary of Sign

The Company and Summary of Significant Accounting Policies and Estimates	9 Months Ended
	Dec. 31, 2023
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 sells products that help businesses thrive and bring people together when working, creating, gaming and streaming. The Company sells its products to a broad network of international customers, including direct sales to retailers, e-tailers and end consumers through the Company's e-commerce platform, and indirect sales to end customers 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 Hautemorges, 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 ("U.S. GAAP") for interim financial information and therefore do not include all the information required by U.S. 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, 2023, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on May 17, 2023. 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 nine months ended December 31, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2024, or any future periods. Change in Presentation of Sales by Product Category During the first quarter of fiscal year 2024, the Company changed its presentation of Sales by Product Category, included in Note 12, to provide a simpler and clearer view of the Company's business. The change in presentation did not have an impact on previously reported total sales. These changes included reclassifications of sales between certain product categories resulting in the following: • The Webcams category (previously PC Webcams) now includes PC webcams and VC webcams; • Headsets is a new category which includes PC headsets and VC headsets; • The Mobile Speakers category is no longer a separate category as sales have been reclassified into the Other category; • The Audio & Wearables category is no longer a separate category as sales have been reclassified into other categories as discussed below. As a result of these changes, certain prior-period amounts for the three and nine months ended December 31, 2022 have been reclassified to conform to the current period presentation as follows (in thousands): Three months ended December 31, 2022 As previously reported Reclassifications As adjusted Gaming $ 391,975 $ 19,952 (1) $ 411,927 Keyboards & Combos 220,059 — 220,059 Pointing Devices 199,106 — 199,106 Video Collaboration 226,374 (52,858) (2) (3) 173,516 Webcams (3) 58,481 35,771 (3) 94,252 Tablet Accessories 65,157 — 65,157 Headsets — 46,736 (2) 46,736 Other 1,348 57,824 (4) (5) 59,172 Mobile Speakers 38,321 (38,321) (4) — Audio & Wearables 69,104 (69,104) (1) (2) (5) — Total Sales $ 1,269,925 $ — $ 1,269,925 Nine months ended December 31, 2022 As previously reported Reclassifications As adjusted Gaming $ 972,457 $ 59,419 (1) $ 1,031,876 Keyboards & Combos 648,632 — 648,632 Pointing Devices 567,589 — 567,589 Video Collaboration 708,796 (174,449) (2) (3) 534,347 Webcams (3) 178,033 127,499 (3) 305,532 Tablet Accessories 185,945 — 185,945 Headsets — 137,429 (2) 137,429 Other 5,642 161,749 (4) (5) 167,391 Mobile Speakers 99,826 (99,826) (4) — Audio & Wearables 211,821 (211,821) (1) (2) (5) — Total Sales $ 3,578,741 $ — $ 3,578,741 (1) Reclassification of Blue Microphones from "Audio & Wearables" to the Gaming category. (2) Reclassification of VC headsets and PC headsets to the new Headsets category from "Video Collaboration" and "Audio & Wearables," respectively. (3) The Webcams category includes amounts previously reported as "PC Webcams" as well as amounts from VC webcams reclassified from "Video Collaboration." (4) Reclassification of all amounts previously reported in "Mobile Speakers" to the Other category. (5) Reclassification of PC speakers previously reported in "Audio & Wearables" to the Other category. Changes in Significant Accounting Policies There have bee n no material changes in the Company’s significant accounting policies during the three and nine months ended December 31, 2023 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2023. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. 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 and intangible assets acquired from business acquisitions, contingent consideration for a business acquisition and periodic reassessment of its fair value, valuation of investment in privately held companies classified under Level 3 fair value hierarchy, pension obligations, accruals for customer incentives, cooperative marketing, and pricing programs and related breakage when appropriate, 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 those estimates. Risks and Uncertainties Impacts of Macroeconomic and Geopolitical Conditions on the Company's Business The Company's business has been impacted by adverse macroeconomic and geopolitical conditions. These conditions include inflation, interest rate and foreign currency fluctuations, slowdown of economic activity around the world, and lower consumer and enterprise spending. The global and regional economic and political conditions adversely affected demand for the Company's products. In addition, these conditions, including recent transportation issues in the Red Sea, have caused and may continue to cause volatility in the cost of materials and logistics, and transportation delays, and as a result may impact the pricing of the Company's products, product availability and the Company's results of operations. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standard Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker. In addition, ASU 2023-07 requires that all existing annual disclosures about segment profit or loss must be provided on an interim basis and clarifies that single reportable segment entities are subject to the disclosure requirement under Topic 280 in its entirety. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within those fiscal years beginning after December 15, 2024. A public entity should apply ASU 2023-07 retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Net Income Per Share

Net Income Per Share	9 Months Ended
	Dec. 31, 2023
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 nine months ended December 31, 2023 and 2022 (in thousands, except per share amounts): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Net income $ 244,684 $ 140,153 $ 444,528 $ 323,080 Shares used in net income per share computation: Weighted average shares outstanding - basic 155,933 161,244 157,568 163,042 Effect of potentially dilutive equivalent shares 1,507 1,285 1,275 1,385 Weighted average shares outstanding - diluted 157,440 162,529 158,843 164,427 Net income per share: Basic $ 1.57 $ 0.87 $ 2.82 $ 1.98 Diluted $ 1.55 $ 0.86 $ 2.80 $ 1.96 Share equivalents attributable to outstanding stock options, restricted stock units and employee share purchase plans totalin g 0.8 million and 1.6 million for the three months ended December 31, 2023 and 2022, respectively, and 1.3 million and 2.0 million for the nine months ended December 31, 2023 and 2022, respectively, were excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive. A small number of performance-based restricted stock units were not included in the dilutive net income per share calculation because all necessary conditions had not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period were the end of the performance contingency period.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Employee Benefit Plans	Employee Benefit Plans Employee Share Purchase Plans and Stock Incentive Plans As of December 31, 2023, the Company offers the 2006 Employee Share Purchase Plan (Non-U.S.), as amended and restated ("2006 ESPP"), the 1996 Employee Share Purchase Plan (U.S.), as amended and restated ("1996 ESPP"), and the 2006 Stock Incentive Plan ("2006 Plan") as amended and restated. Shares issued to employees as a result of purchases or exercises under these plans are generally issued from shares held in treasury stock. The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Cost of goods sold $ 2,189 $ 1,324 $ 6,066 $ 4,228 Marketing and selling 8,878 8,014 28,623 25,240 Research and development 4,421 2,756 13,568 11,568 General and administrative 5,125 3,711 15,935 10,704 Total share-based compensation expense 20,613 15,805 64,192 51,740 Income tax benefit (3,391) (3,276) (11,257) (7,496) Total share-based compensation expense, net of income tax benefit $ 17,222 $ 12,529 $ 52,935 $ 44,244 The income tax benefit in the respective periods primarily consisted of tax benefits 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. Share-based compensation costs capitalized as part of inventory were $1.4 million and $1.3 million for the three months ended December 31, 2023 and 2022, respectively, and $4.8 million and $4.4 million for the nine months ended December 31, 2023 and 2022, 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 of $1.9 million and $2.7 million recorded for the three months ended December 31, 2023 and 2022, respectively, and $5.7 million and $8.3 million recorded for the nine months ended December 31, 2023 and 2022, respectively, were primarily related to service costs.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2023
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 provision (benefit) for the three and nine months ended December 31, 2023 was a benefit of $9.6 million and a provision of $33.3 million based on an effective income tax rate of (4.1)% and 7.0% of pre-tax income, respectively. The income tax provision for the same periods ended December 31, 2022 was $42.7 million and $87.8 million based on effective income tax rate of 23.3% and 21.4% of pre-tax income, respectively. The change in the effective income tax rate for the three and nine months ended December 31, 2023, compared with the same periods ended December 31, 2022 was primarily due to the mix of income and losses in the various tax jurisdictions in which the Company operates as well as the favorable tax impacts from share-based compensation, an agreement to remeasure the tax basis of goodwill under the Swiss Federal Act on Tax Reform and AHV Financing (“TRAF”) with the canton of Vaud, remeasurement of the Company’s Swiss deferred tax assets due to a change in tax rate, and Foreign-Derived Intangible Income ("FDII") incentive provided by the Tax Cuts and Jobs Act. The canton of Vaud completed the legislative process to enact TRAF, a reform to better align the Swiss tax system to international tax standards, on March 10, 2020 to take effect as of January 1, 2020. In March 2020, the Company reached an agreement with the Vaud Tax Administration that would allow for an increase in the tax basis of goodwill, as a transition measure under TRAF, to be amortized over ten years beginning on January 1, 2020. During the three months ended December 31, 2023, the Company reached an agreement to remeasure the tax basis of goodwill under TRAF with the canton of Vaud, which resulted in an income tax benefit of $25.1 million, net of assessment of uncertain tax positions. The remeasurement of the step-up will be amortized over the remaining ten-year amortization period. On December 29, 2023, a change to the cantonal tax legislation was published. According to the law approved by the Vaud parliament, a progressive scale will be applicable for cantonal tax purposes resulting in an increase from the current tax rate of 13.61% to 14.28% effective fiscal year 2025. The increase in tax rate resulted in a tax benefit of $5.1 million due to a remeasurement of the Company's Swiss deferred tax assets in the fiscal quarter ended December 31, 2023. The Tax Cuts and Jobs Act enacted Section 250, which provides for a deduction with respect to Global Intangible Low-Taxed Income ("GILTI") and FDII in the US. The application of this tax incentive is inherently complex. During the three months ended December 31, 2023, the Company analyzed the applicability of FDII and determined that this tax incentive applies to fiscal 2021 to 2023 tax years. As a result, the Company realized a tax benefit of $17.9 million related to FDII. The Company has also concluded that any GILTI tax since the enactment of Tax Cuts and Jobs Act would be immaterial. Although the Company has adequately provided for uncertain tax positions, the provisions related to these positions may change as revised estimates are made or the underlying matters are settled or otherwise resolved. During fiscal year 2024, the Company continues to review its tax positions and to provide for or reverse unrecognized tax benefits as they arise. During the next twelve months, while it is reasonably possible that the amount of unrecognized tax benefits could increase or decrease significantly, it is not possible to provide a range of potential changes. On August 16, 2022, the “Inflation Reduction Act” (H.R. 5376) ("IRA") was signed into law in the United States. The IRA established a new corporate alternative minimum tax based on financial statement income adjusted for certain items. The new minimum tax is effective for tax years beginning after December 31, 2022. The IRA is not expected to have a material impact to the Company's financial statements for the tax year ending March 31, 2024. On December 22, 2023, the Federal Council enacted the relevant ordinance for implementing a (Qualified) Domestic Minimum Tax (QDMTT) in Switzerland for tax years beginning from January 1, 2024. The Company is currently evaluating the impact of this ordinance on its consolidated financial statements.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components The following table presents the components of certain balance sheet asset amounts (in thousands): December 31, 2023 March 31, 2023 Accounts receivable, net: Accounts receivable $ 970,549 $ 851,576 Allowance for doubtful accounts — (86) Allowance for sales returns (12,487) (10,146) Allowance for cooperative marketing arrangements (47,165) (40,495) Allowance for customer incentive programs (97,497) (71,645) Allowance for pricing programs (127,623) (98,822) $ 685,777 $ 630,382 Inventories: Raw materials $ 71,969 $ 171,790 Finished goods 375,293 511,103 $ 447,262 $ 682,893 Other current assets: Value-added tax ("VAT") receivables $ 55,920 $ 60,343 Prepaid expenses and other assets 94,834 82,533 $ 150,754 $ 142,876 Property, plant and equipment, net: Property, plant and equipment $ 497,994 $ 518,358 Less: accumulated depreciation and amortization (378,794) (396,855) $ 119,200 $ 121,503 Other assets: Deferred tax assets $ 197,460 $ 171,989 Right-of-use assets 61,721 67,330 Investments in privately held companies 30,991 33,323 Investments for deferred compensation plan 29,905 28,213 Other assets 6,517 15,438 $ 326,594 $ 316,293 The following table presents the components of certain balance sheet liability amounts (in thousands): December 31, 2023 March 31, 2023 Accrued and other current liabilities: Accrued customer marketing, pricing and incentive programs $ 193,216 $ 206,546 Accrued personnel expenses 142,936 103,592 Accrued loss for inventory purchase commitments 33,772 46,608 Accrued sales return liability 33,527 49,462 Warranty liabilities 28,784 28,861 VAT payable 37,748 33,328 Income taxes payable 28,136 18,788 Operating lease liabilities 14,915 12,655 Contingent consideration 1,809 6,629 Other current liabilities 158,592 136,670 $ 673,435 $ 643,139 Other non-current liabilities: Operating lease liabilities $ 62,800 $ 58,361 Employee benefit plan obligations 32,212 32,421 Obligation for deferred compensation plan 29,905 28,213 Warranty liabilities 12,993 12,025 Deferred tax liabilities 2,529 2,803 Other non-current liabilities 16,052 12,872 $ 156,491 $ 146,695

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [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): December 31, 2023 March 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 959,932 $ — $ — $ 661,884 $ — $ — Investments for deferred compensation plan included in other assets: Cash $ 402 $ — $ — $ 41 $ — $ — Common stock 1,257 — — 988 — — Money market funds 9,760 — — 9,606 — — Mutual funds 18,486 — — 17,578 — — Total investments for deferred compensation plan $ 29,905 $ — $ — $ 28,213 $ — $ — Currency derivative assets $ — $ 118 $ — $ — $ 107 $ — Liabilities: Contingent consideration included in accrued and other current liabilities $ — $ — $ 1,809 $ — $ — $ 6,629 Currency derivative liabilities $ — $ 1,813 $ — $ — $ 2,187 $ — Contingent Consideration for Business Acquisitions The following table summarizes the change in the Company's contingent consideration balance during the nine months ended December 31, 2023 and 2022 (in thousands): Nine months ended December 31, 2023 2022 Beginning of the period $ 6,629 $ 12,259 Fair value of contingent consideration upon acquisition — 2,151 Payments of contingent consideration (5,002) (5,954) Effect of foreign currency exchange rate changes 182 (1,843) End of the period $ 1,809 $ 6,613 The contingent consideration arising from a technology acquisition on May 19, 2021, represented the future potential earn-out payments of up to $10.0 million payable in cash upon the achievement of three technical development milestones to be completed as of December 31, 2021, June 30, 2022, a nd June 30, 2023. The fair value of the contingent consideration was $10.0 million at the acquisition date, which was determined using a probability-weighted expected payment model and discounted at the estimated cost of debt. During fiscal year 2022, the Company paid $0.9 million for the contingent consideration related to the first technical development milestone. During fiscal year 2023, the Company paid $4.0 million for the contingent consideration related to the second technical development milestone. D uring the second quarter of fiscal year 2024, t he Company paid $3.3 million for the contingent consideration related to the third technical development milestone. The contingent consideration arising from a technology acquisition on January 4, 2021, represented the future potential earn-out payments of up to $3.0 million payable in cash upon the achievement of two technical development milestones to be completed as of December 31, 2021 and March 31, 2022. The fair value of the contingent consideration was determined using a probability-weighted expected payment model and discounted at the estimated cost of debt. During fiscal year 2023, the Company paid $2.0 million for the contingent consideration related to the first technical development milestone. D uring the second quarter of fiscal year 2024, t he Company paid $1.0 million for the contingent consideration related to the second technical development milestone. Investments for Deferred Compensation Plan The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $29.9 million and $28.2 million, as of December 31, 2023 and March 31, 2023, 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 marketable securities for the three and nine months ended December 31, 2023 and 2022 were not material and were included in other income (expense), net, and corresponding changes in the deferred compensation liability were included in operating expenses and cost of goods sold, 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 as equity method investments, with a carrying value of $18.4 million and $20.5 million as of December 31, 2023 and March 31, 2023, respectively. Gains (losses) related to equity method investments for the three and nine months ended December 31, 2023 and 2022 were not material and are included in other income (expense), net, in the Company's condensed consolidated statements of operations. During the second quarter of fiscal year 2023, the Company recorded an impairment charge, before tax, of $21.4 million for one of its equity method investments as it was determined that the carrying value of the investment was not recoverable. The impairment charge is included in other income (expense), net, in the Company's condensed consolidated statement of operations for the nine months ended December 31, 2022. There was no impairment of equity method investments during the three and nine months ended December 31, 2023. Assets Measured at Fair Value on a Nonrecurring Basis Financial Assets The Company has certain equity 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 the same or similar security from the same issuer. The amount of these equity investments without readily determinable fair values included in other assets was $12.1 million and $12.6 million as of December 31, 2023 and March 31, 2023, respectively . During the first quarter of fiscal year 2023, the Company recorded an unrealized gain, before tax, of $6.9 million for its investment in a private company as a result of observable price changes for similar securities issued by this company (level 2 fair value measurement). There were no impairment charges related to these financial assets during the three and nine months ended December 31, 2023 and 2022, other than immaterial impairment charges related to certain investments without readily determinable fair values. During the first quarter of fiscal year 2024, the Company recorded an impairment loss, before tax, of $9.6 million as a result of the write-off of a note receivable which has been deemed no longer recoverable. This note receivable was previously obtained in conjunction with an exchange transaction related to the Company's investment in a privately held company. The impairment loss is included in other income (expense), net, in the Company's condensed consolidated statement of operations for the nine months ended December 31, 2023. Non-Financial Assets

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Dec. 31, 2023
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 in other current assets and accrued and other current liabilities, respectively, on the condensed consolidated balance sheets as of December 31, 2023 and March 31, 2023. See Note 6 for the fair values of the Company’s derivative instruments as of December 31, 2023 and March 31, 2023. 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 approximately 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 the hedging contract is no longer eligible for hedge accounting, or is sold, terminated or exercised, or when the 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. The notional amounts of foreign currency exchange forward contracts outstanding related to forecasted inventory purchases were $91.2 million and $72.6 million as of December 31, 2023 and March 31, 2023, respectively. The Company had $1.6 million of net loss related to its cash flow hedges included in accumulated other comprehensive loss as of December 31, 2023, which will be reclassified into earnings within the next twelve months. The following table presents the amounts of gain (loss) on the Company’s derivative instruments designated as hedging instruments for the three and nine months ended December 31, 2023 and 2022 and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income (in thousands): Three months ended December 31, Amount of Gain (Loss) Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold 2023 2022 2023 2022 Cash flow hedges $ (2,539) $ (6,325) $ (863) $ (4,728) Nine months ended December 31, Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold 2023 2022 2023 2022 Cash flow hedges $ (1,165) $ 5,239 $ 3,493 $ (11,766) The Company presents the earnings impact from forward points in the same line item that is used to present the earnings impact of the hedged item, i.e. cost of goods sold, for hedging forecasted inventory purchases and such amount is not material for all periods presented. 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 approximately 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 not material and included 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 December 31, 2023 and March 31, 2023 were $78.2 million and $111.2 million, respectively. Foreign currency exchange forward and swap contracts outstanding as of December 31, 2023 primarily consisted of contracts in Canadian Dollar, Brazilian Real, and New Taiwan Dollar to be se ttled at future dates at predetermined exchange rates.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Dec. 31, 2023
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 or more frequently 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. The Company conducted its annual impairment analysis of goodwill as of December 31, 2023 by performing a qualitative assessment and concluded that it was more likely than not that the fair value of its reporting unit exceeds its carrying amount. In assessing the qualitative factors, the Company considered the impact of change in industry and competitive environment, the Company's market capitalization and budgeted-to-actual revenue performance for the last twelve months. The following table summarizes the activities in the Company’s goodwill balance (in thousands): As of March 31, 2023 $ 454,610 Acquisition 8,117 Effects of foreign currency translation 1,251 As of December 31, 2023 $ 463,978 The Company's acquired intangible assets were as follows (in thousands): December 31, 2023 March 31, 2023 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademarks and trade names $ 32,390 $ (25,005) $ 7,385 $ 36,790 $ (26,774) $ 10,016 Developed technology 107,421 (84,398) 23,023 121,730 (94,792) 26,938 Customer contracts/relationships 69,087 (49,164) 19,923 71,110 (47,688) 23,422 In-process R&D 3,526 — 3,526 3,526 — 3,526 Effects of foreign currency translation (214) 81 (133) (1,021) 292 (729) Total $ 212,210 $ (158,486) $ 53,724 $ 232,135 $ (168,962) $ 63,173

Financing Arrangements

Financing Arrangements	9 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties Changes in the Company’s warranty liabilities for the three and nine months ended December 31, 2023 and 2022 were as follows (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Beginning of the period $ 40,265 $ 41,960 $ 40,886 $ 46,219 Provision 11,249 8,920 30,734 23,440 Settlements (10,158) (8,979) (29,914) (26,358) Effects of foreign currency translation 421 730 71 (670) End of the period $ 41,777 $ 42,631 $ 41,777 $ 42,631 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 December 31, 2023, no material 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 legal proceedings. The Company intends to vigorously defend against them. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. The Company follows ASC ("Accounting Standards Codification") 450 in determining the accounting and disclosure for these contingencies. 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 and 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 and results of operations in a particular period. Any claims or proceedings against the Company 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.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchases 2020 Share Repurchase Program In May 2020, the Company's Board of Directors approved the 2020 share repurchase program, which authorized the Company to use up to $250.0 million to purchase Logitech shares to support equity incentive plans or potential acquisitions. 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. In April 2021, the Company's Board of Directors approved an increase of $750.0 million to the 2020 share repurchase program, to an aggregate amount of $1.0 billion. The Swiss Takeover Board approved this increase and it became effective on May 21, 2021. In July 2022, the Company’s Board of Directors approved an increase of $500 million to the 2020 share repurchase program, to an aggregate amount of up to $1.5 billion. The Swiss Takeover Board approved this increase and it became effective on August 19, 2022. The 2020 share repurchase program expired on July 27, 2023. The Company repurchased 16.7 million shares for an aggregate cost of $1.2 billion under the 2020 share repurchase program, of which 2.6 million shares for an aggregate cost of $159.1 million were repurchased during fiscal year 2024 prior to the expiration of the program. 2023 Share Repurchase Program In June 2023, the Company's Board of Directors approved a new, three-year share repurchase program, which allows the Company to use up to $1.0 billion to repurchase its shares. The 2023 share repurchase program enables the Company to repurchase shares for cancellation, as well as to support equity incentive plans or potential acquisitions. The Swiss Takeover Board approved the 2023 share repurchase program in July 2023 and the program became effective on July 28, 2023. During the nine months ended December 31, 2023, the Company repurchased 3.0 million shares for an aggregate cost of $232.5 million under the 2023 share repurchase program for cancellation, of which $14.8 million of the aggregate cost was not paid yet as of December 31, 2023. As of December 31, 2023 , $767.8 m illion was available for repurchase under the 2023 share repurchase program. Swiss law limits a company’s ability to hold or repurchase its own shares. The aggregate par value of all shares held in treasury by the Company and its subsidiaries may not exceed 10% of the share capital of the Company, which for the Company corresponds to approximately 17.3 million registered shares. This limitation does not apply to shares repurchased for cancellation, due to the Board of Directors’ authority under the Company’s capital band set forth in the Company’s Articles of Incorporation to cancel shares up to a limit of 10% of the Company's current share capital. As of December 31, 2023, the Company had a total of 18.1 million shares held in treasury stock, which includes 3.0 million shares that have been repurchased for cancellation. To the extent that the shares are repurchased to support equity incentive plans or potential acquisitions, the shares are repurchased on the ordinary trading line of SIX Swiss Exchange (“SIX”) and/or The Nasdaq Global Select Market (“Nasdaq”). Shares repurchased for cancellation purposes are repurchased on a second trading line on SIX. Shares may be repurchased from time to time on the open market or in privately negotiated transactions, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors and the program does not require the purchase of any minimum number of shares. Dividends During the nine months ended December 31, 2023, the Company declared and paid cash dividends of CHF 1.06 (USD equivalent of $1.19 based on the exchange rate on the date of declaration) per share, totaling $187.2 million on the Company's outstanding shares. During the nine months ended December 31, 2022, the Company declared and paid cash dividends of CHF 0.96 (USD equivalent of $1.00 based on the exchange rate on the date of declaration) per share, totaling $162.7 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): Cumulative Translation Adjustment Defined Benefit Plans Deferred Hedging Losses Total March 31, 2023 $ (100,869) $ 4,525 $ (3,933) $ (100,277) Other comprehensive income 13,168 252 2,328 15,748 December 31, 2023 $ (87,701) $ 4,777 $ (1,605) $ (84,529)

Segment Information

Segment Information	9 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates in a single operating segment that encompasses the design, manufacturing and marketing of peripherals for gaming, PCs, tablets, video conferencing, 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 and impairment of intangible assets, acquisition-related costs, and change in fair value of contingent consideration from business acquisitions. During the first quarter of fiscal year 2024, the Company changed its presentation of Sales by Product Category to provide a simpler and clearer view of the Company's business. The change in presentation did not have an impact on previously reported total sales. As a result of these changes, certain prior-period amounts for the three and nine months ended December 31, 2022 have been reclassified to conform to the current period presentation. See Note 1 for further information on the change in presentation. Sales by product category in the current presentation for the three and nine months ended December 31, 2023 and 2022 were as follows (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Gaming (1) $ 409,043 $ 411,927 $ 957,576 $ 1,031,876 Keyboards & Combos 229,432 220,059 605,201 648,632 Pointing Devices 206,180 199,106 572,310 567,589 Video Collaboration 169,522 173,516 461,257 534,347 Webcams 85,851 94,252 249,273 305,532 Tablet Accessories 64,239 65,157 198,252 185,945 Headsets 41,762 46,736 123,023 137,429 Other (2) 49,444 59,172 120,088 167,391 Total Sales $ 1,255,473 $ 1,269,925 $ 3,286,980 $ 3,578,741 (1) Gaming includes streaming services revenue generated by Streamlabs. (2) Other primarily consists of mobile speakers and PC speakers. Sales by geographic region (based on the customers’ locations) for the three and nine months ended December 31, 2023 and 2022 were as follows (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Americas $ 538,530 $ 513,835 $ 1,446,104 $ 1,508,318 EMEA 416,618 428,532 987,301 1,016,187 Asia Pacific 300,325 327,558 853,575 1,054,236 Total Sales $ 1,255,473 $ 1,269,925 $ 3,286,980 $ 3,578,741 Revenue from sales to customers in the United States, Germany and China each represented 10% or more 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 country of domicile, represented 3% and 4% of the Company's total consolidated sales for the three months ended December 31, 2023 and 2022, respectively, and 2% and 3% for the nine months ended December 31, 2023 and 2022, respectively. Three customers of the Company each represented 10% or more of the total consolidated gross sales for each of the three and nine months ended December 31, 2023 and 2022. Property, plant and equipment, net (excluding software) and right-of-use assets by geographic region were as follows (in thousands): December 31, 2023 March 31, 2023 Americas $ 68,996 $ 59,183 EMEA 32,839 38,890 Asia Pacific 56,734 69,939 Total $ 158,569 $ 168,012 Property, plant and equipment, net (excluding software) and right-of-use assets in the United States, China, and Ireland were $67.8 million, $37.6 million and $16.9 million, respectively, as of December 31, 2023, and $58.7 million, $48.8 million, and $17.7 million, respectively, as of March 31, 2023. No other countries represented more than 10% of the Company’s total consolidated property, plant and equipment, net (excluding software) and right-of-use assets as of December 31, 2023 or March 31, 2023.

Restructuring

Restructuring	9 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the second quarter of fiscal year 2023, the Company initiated a restructuring plan to realign its business group and engineering structure with its go-to-market strategy to more effectively compete within the enterprise market and to better serve end-users. During the fourth quarter of fiscal year 2023, the Company undertook further actions to remove organization layers as well as streamline its marketing organization to increase efficiency. These actions resulted in charges related to employee severance and other termination benefits as well as contract termination and other costs. The Company expects to substantially complete these restructuring activities within fiscal year 2024. The following table summarizes restructuring-related activit ies during the nine months ended December 31, 2023 (in thousands): Termination Contract Termination and Other Total Accrued restructuring liability at March 31, 2023 (1) $ 14,177 $ 5,357 $ 19,534 Charges (credits), net 4,310 (1,748) 2,562 Cash payments (17,688) (1,581) (19,269) Accrued restructuring liability at December 31, 2023 (1) $ 799 $ 2,028 $ 2,827 (1) The accrual balances are included in accrued and other current liabilities on the Company’s condensed consolidated balance sheets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 244,684	$ 140,153	$ 444,528	$ 323,080

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Prakash Arunkundrum [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 3, 2023, Prakash Arunkundrum, our Chief Operating Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale of an aggregate of up to 30,916 shares of our common stock acquired by Mr. Arunkundrum under our equity plans. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The first date that sales of any shares are permitted to be sold under the trading arrangement will be February 2, 2024. The trading arrangement terminates on October 2, 2024, or upon the earlier completion of all transactions thereunder.
Name	Prakash Arunkundrum
Title	Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 3, 2023
Arrangement Duration	243 days
Aggregate Available	30,916	30,916
Samantha Harnett [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 9, 2023, Samantha Harnett, our Chief Legal Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale of an aggregate of 850 shares of our common stock acquired by Ms. Harnett under our equity plans. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The first date that sales of any shares are permitted to be sold under the trading arrangement will be February 8, 2024. The trading arrangement terminates on May 9, 2024, or upon the earlier completion of all transactions thereunder.
Name	Samantha Harnett
Title	Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 9, 2023
Arrangement Duration	91 days
Aggregate Available	850	850

The Company and Summary of Si_2

The Company and Summary of Significant Accounting Policies and Estimates (Policies)	9 Months Ended
	Dec. 31, 2023
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 ("U.S. GAAP") for interim financial information and therefore do not include all the information required by U.S. 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, 2023, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on May 17, 2023. 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 nine months ended December 31, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2024, or any future periods.
Changes in Significant Accounting Policies and Recent Accounting Pronouncements Not Yet Adopted	Changes in Significant Accounting Policies There have bee n no material changes in the Company’s significant accounting policies during the three and nine months ended December 31, 2023 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2023. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standard Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker. In addition, ASU 2023-07 requires that all existing annual disclosures about segment profit or loss must be provided on an interim basis and clarifies that single reportable segment entities are subject to the disclosure requirement under Topic 280 in its entirety. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within those fiscal years beginning after December 15, 2024. A public entity should apply ASU 2023-07 retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. 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 and intangible assets acquired from business acquisitions, contingent consideration for a business acquisition and periodic reassessment of its fair value, valuation of investment in privately held companies classified under Level 3 fair value hierarchy, pension obligations, accruals for customer incentives, cooperative marketing, and pricing programs and related breakage when appropriate, 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 those estimates.
Risks and Uncertainties	Risks and Uncertainties Impacts of Macroeconomic and Geopolitical Conditions on the Company's Business The Company's business has been impacted by adverse macroeconomic and geopolitical conditions. These conditions include inflation, interest rate and foreign currency fluctuations, slowdown of economic activity around the world, and lower consumer and enterprise spending.

The Company and Summary of Si_3

The Company and Summary of Significant Accounting Policies and Estimates (Tables)	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Reclassification Adjustments	As a result of these changes, certain prior-period amounts for the three and nine months ended December 31, 2022 have been reclassified to conform to the current period presentation as follows (in thousands): Three months ended December 31, 2022 As previously reported Reclassifications As adjusted Gaming $ 391,975 $ 19,952 (1) $ 411,927 Keyboards & Combos 220,059 — 220,059 Pointing Devices 199,106 — 199,106 Video Collaboration 226,374 (52,858) (2) (3) 173,516 Webcams (3) 58,481 35,771 (3) 94,252 Tablet Accessories 65,157 — 65,157 Headsets — 46,736 (2) 46,736 Other 1,348 57,824 (4) (5) 59,172 Mobile Speakers 38,321 (38,321) (4) — Audio & Wearables 69,104 (69,104) (1) (2) (5) — Total Sales $ 1,269,925 $ — $ 1,269,925 Nine months ended December 31, 2022 As previously reported Reclassifications As adjusted Gaming $ 972,457 $ 59,419 (1) $ 1,031,876 Keyboards & Combos 648,632 — 648,632 Pointing Devices 567,589 — 567,589 Video Collaboration 708,796 (174,449) (2) (3) 534,347 Webcams (3) 178,033 127,499 (3) 305,532 Tablet Accessories 185,945 — 185,945 Headsets — 137,429 (2) 137,429 Other 5,642 161,749 (4) (5) 167,391 Mobile Speakers 99,826 (99,826) (4) — Audio & Wearables 211,821 (211,821) (1) (2) (5) — Total Sales $ 3,578,741 $ — $ 3,578,741 (1) Reclassification of Blue Microphones from "Audio & Wearables" to the Gaming category. (2) Reclassification of VC headsets and PC headsets to the new Headsets category from "Video Collaboration" and "Audio & Wearables," respectively. (3) The Webcams category includes amounts previously reported as "PC Webcams" as well as amounts from VC webcams reclassified from "Video Collaboration." (4) Reclassification of all amounts previously reported in "Mobile Speakers" to the Other category. (5) Reclassification of PC speakers previously reported in "Audio & Wearables" to the Other category.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Dec. 31, 2023
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 nine months ended December 31, 2023 and 2022 (in thousands, except per share amounts): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Net income $ 244,684 $ 140,153 $ 444,528 $ 323,080 Shares used in net income per share computation: Weighted average shares outstanding - basic 155,933 161,244 157,568 163,042 Effect of potentially dilutive equivalent shares 1,507 1,285 1,275 1,385 Weighted average shares outstanding - diluted 157,440 162,529 158,843 164,427 Net income per share: Basic $ 1.57 $ 0.87 $ 2.82 $ 1.98 Diluted $ 1.55 $ 0.86 $ 2.80 $ 1.96

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expenses and Related Tax Benefits Recognized	The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Cost of goods sold $ 2,189 $ 1,324 $ 6,066 $ 4,228 Marketing and selling 8,878 8,014 28,623 25,240 Research and development 4,421 2,756 13,568 11,568 General and administrative 5,125 3,711 15,935 10,704 Total share-based compensation expense 20,613 15,805 64,192 51,740 Income tax benefit (3,391) (3,276) (11,257) (7,496) Total share-based compensation expense, net of income tax benefit $ 17,222 $ 12,529 $ 52,935 $ 44,244

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of Components of Certain Balance Sheet Asset Amounts	The following table presents the components of certain balance sheet asset amounts (in thousands): December 31, 2023 March 31, 2023 Accounts receivable, net: Accounts receivable $ 970,549 $ 851,576 Allowance for doubtful accounts — (86) Allowance for sales returns (12,487) (10,146) Allowance for cooperative marketing arrangements (47,165) (40,495) Allowance for customer incentive programs (97,497) (71,645) Allowance for pricing programs (127,623) (98,822) $ 685,777 $ 630,382 Inventories: Raw materials $ 71,969 $ 171,790 Finished goods 375,293 511,103 $ 447,262 $ 682,893 Other current assets: Value-added tax ("VAT") receivables $ 55,920 $ 60,343 Prepaid expenses and other assets 94,834 82,533 $ 150,754 $ 142,876 Property, plant and equipment, net: Property, plant and equipment $ 497,994 $ 518,358 Less: accumulated depreciation and amortization (378,794) (396,855) $ 119,200 $ 121,503 Other assets: Deferred tax assets $ 197,460 $ 171,989 Right-of-use assets 61,721 67,330 Investments in privately held companies 30,991 33,323 Investments for deferred compensation plan 29,905 28,213 Other assets 6,517 15,438 $ 326,594 $ 316,293
Schedule of Components of Certain Balance Sheet Liability Amounts	The following table presents the components of certain balance sheet liability amounts (in thousands): December 31, 2023 March 31, 2023 Accrued and other current liabilities: Accrued customer marketing, pricing and incentive programs $ 193,216 $ 206,546 Accrued personnel expenses 142,936 103,592 Accrued loss for inventory purchase commitments 33,772 46,608 Accrued sales return liability 33,527 49,462 Warranty liabilities 28,784 28,861 VAT payable 37,748 33,328 Income taxes payable 28,136 18,788 Operating lease liabilities 14,915 12,655 Contingent consideration 1,809 6,629 Other current liabilities 158,592 136,670 $ 673,435 $ 643,139 Other non-current liabilities: Operating lease liabilities $ 62,800 $ 58,361 Employee benefit plan obligations 32,212 32,421 Obligation for deferred compensation plan 29,905 28,213 Warranty liabilities 12,993 12,025 Deferred tax liabilities 2,529 2,803 Other non-current liabilities 16,052 12,872 $ 156,491 $ 146,695

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities, Classified by Level	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): December 31, 2023 March 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 959,932 $ — $ — $ 661,884 $ — $ — Investments for deferred compensation plan included in other assets: Cash $ 402 $ — $ — $ 41 $ — $ — Common stock 1,257 — — 988 — — Money market funds 9,760 — — 9,606 — — Mutual funds 18,486 — — 17,578 — — Total investments for deferred compensation plan $ 29,905 $ — $ — $ 28,213 $ — $ — Currency derivative assets $ — $ 118 $ — $ — $ 107 $ — Liabilities: Contingent consideration included in accrued and other current liabilities $ — $ — $ 1,809 $ — $ — $ 6,629 Currency derivative liabilities $ — $ 1,813 $ — $ — $ 2,187 $ —
Schedule of Change in Fair Value of Contingent Consideration	The following table summarizes the change in the Company's contingent consideration balance during the nine months ended December 31, 2023 and 2022 (in thousands): Nine months ended December 31, 2023 2022 Beginning of the period $ 6,629 $ 12,259 Fair value of contingent consideration upon acquisition — 2,151 Payments of contingent consideration (5,002) (5,954) Effect of foreign currency exchange rate changes 182 (1,843) End of the period $ 1,809 $ 6,613

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Gains on Derivative Instruments	The following table presents the amounts of gain (loss) on the Company’s derivative instruments designated as hedging instruments for the three and nine months ended December 31, 2023 and 2022 and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income (in thousands): Three months ended December 31, Amount of Gain (Loss) Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold 2023 2022 2023 2022 Cash flow hedges $ (2,539) $ (6,325) $ (863) $ (4,728) Nine months ended December 31, Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold 2023 2022 2023 2022 Cash flow hedges $ (1,165) $ 5,239 $ 3,493 $ (11,766)

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Activity in Goodwill Balance	The following table summarizes the activities in the Company’s goodwill balance (in thousands): As of March 31, 2023 $ 454,610 Acquisition 8,117 Effects of foreign currency translation 1,251 As of December 31, 2023 $ 463,978
Schedule of Intangible Assets Subject to Amortization	The Company's acquired intangible assets were as follows (in thousands): December 31, 2023 March 31, 2023 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademarks and trade names $ 32,390 $ (25,005) $ 7,385 $ 36,790 $ (26,774) $ 10,016 Developed technology 107,421 (84,398) 23,023 121,730 (94,792) 26,938 Customer contracts/relationships 69,087 (49,164) 19,923 71,110 (47,688) 23,422 In-process R&D 3,526 — 3,526 3,526 — 3,526 Effects of foreign currency translation (214) 81 (133) (1,021) 292 (729) Total $ 212,210 $ (158,486) $ 53,724 $ 232,135 $ (168,962) $ 63,173

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Warranty Liabilities	Changes in the Company’s warranty liabilities for the three and nine months ended December 31, 2023 and 2022 were as follows (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Beginning of the period $ 40,265 $ 41,960 $ 40,886 $ 46,219 Provision 11,249 8,920 30,734 23,440 Settlements (10,158) (8,979) (29,914) (26,358) Effects of foreign currency translation 421 730 71 (670) End of the period $ 41,777 $ 42,631 $ 41,777 $ 42,631

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The accumulated other comprehensive income (loss) was as follows (in thousands): Cumulative Translation Adjustment Defined Benefit Plans Deferred Hedging Losses Total March 31, 2023 $ (100,869) $ 4,525 $ (3,933) $ (100,277) Other comprehensive income 13,168 252 2,328 15,748 December 31, 2023 $ (87,701) $ 4,777 $ (1,605) $ (84,529)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Net Sales by Product Categories, Excluding Intercompany Transactions	Sales by product category in the current presentation for the three and nine months ended December 31, 2023 and 2022 were as follows (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Gaming (1) $ 409,043 $ 411,927 $ 957,576 $ 1,031,876 Keyboards & Combos 229,432 220,059 605,201 648,632 Pointing Devices 206,180 199,106 572,310 567,589 Video Collaboration 169,522 173,516 461,257 534,347 Webcams 85,851 94,252 249,273 305,532 Tablet Accessories 64,239 65,157 198,252 185,945 Headsets 41,762 46,736 123,023 137,429 Other (2) 49,444 59,172 120,088 167,391 Total Sales $ 1,255,473 $ 1,269,925 $ 3,286,980 $ 3,578,741 (1) Gaming includes streaming services revenue generated by Streamlabs. (2) Other primarily consists of mobile speakers and PC speakers.
Schedule of Net Sales by Geographic Region	Sales by geographic region (based on the customers’ locations) for the three and nine months ended December 31, 2023 and 2022 were as follows (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Americas $ 538,530 $ 513,835 $ 1,446,104 $ 1,508,318 EMEA 416,618 428,532 987,301 1,016,187 Asia Pacific 300,325 327,558 853,575 1,054,236 Total Sales $ 1,255,473 $ 1,269,925 $ 3,286,980 $ 3,578,741
Schedule of Long-Lived Assets by Geographic Region	Property, plant and equipment, net (excluding software) and right-of-use assets by geographic region were as follows (in thousands): December 31, 2023 March 31, 2023 Americas $ 68,996 $ 59,183 EMEA 32,839 38,890 Asia Pacific 56,734 69,939 Total $ 158,569 $ 168,012

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring-Related Activities	The following table summarizes restructuring-related activit ies during the nine months ended December 31, 2023 (in thousands): Termination Contract Termination and Other Total Accrued restructuring liability at March 31, 2023 (1) $ 14,177 $ 5,357 $ 19,534 Charges (credits), net 4,310 (1,748) 2,562 Cash payments (17,688) (1,581) (19,269) Accrued restructuring liability at December 31, 2023 (1) $ 799 $ 2,028 $ 2,827 (1) The accrual balances are included in accrued and other current liabilities on the Company’s condensed consolidated balance sheets.

The Company and Summary of Si_4

The Company and Summary of Significant Accounting Policies and Estimates - Schedule of Change in Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 1,255,473	$ 1,269,925	$ 3,286,980	$ 3,578,741
As previously reported
Disaggregation of Revenue [Line Items]
Net sales		1,269,925		3,578,741
Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		0		0
Gaming
Disaggregation of Revenue [Line Items]
Net sales	409,043	411,927	957,576	1,031,876
Gaming | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		391,975		972,457
Gaming | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		19,952		59,419
Keyboards & Combos
Disaggregation of Revenue [Line Items]
Net sales	229,432	220,059	605,201	648,632
Keyboards & Combos | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		220,059		648,632
Keyboards & Combos | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		0		0
Pointing Devices
Disaggregation of Revenue [Line Items]
Net sales	206,180	199,106	572,310	567,589
Pointing Devices | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		199,106		567,589
Pointing Devices | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		0		0
Video Collaboration
Disaggregation of Revenue [Line Items]
Net sales	169,522	173,516	461,257	534,347
Video Collaboration | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		226,374		708,796
Video Collaboration | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		(52,858)		(174,449)
Webcams
Disaggregation of Revenue [Line Items]
Net sales	85,851	94,252	249,273	305,532
Webcams | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		58,481		178,033
Webcams | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		35,771		127,499
Tablet Accessories
Disaggregation of Revenue [Line Items]
Net sales		65,157		185,945
Tablet Accessories | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		65,157		185,945
Tablet Accessories | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		0		0
Headsets
Disaggregation of Revenue [Line Items]
Net sales	41,762	46,736	123,023	137,429
Headsets | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		0		0
Headsets | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		46,736		137,429
Other
Disaggregation of Revenue [Line Items]
Net sales	$ 49,444	59,172	$ 120,088	167,391
Other | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		1,348		5,642
Other | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		57,824		161,749
Mobile Speakers
Disaggregation of Revenue [Line Items]
Net sales		0		0
Mobile Speakers | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		38,321		99,826
Mobile Speakers | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		(38,321)		(99,826)
Audio & Wearables
Disaggregation of Revenue [Line Items]
Net sales		0		0
Audio & Wearables | As previously reported
Disaggregation of Revenue [Line Items]
Net sales		69,104		211,821
Audio & Wearables | Reclassifications
Disaggregation of Revenue [Line Items]
Net sales		$ (69,104)		$ (211,821)

Net Income Per Share - Computat

Net Income Per Share - Computations of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net income
Net income	$ 244,684	$ 140,153	$ 444,528	$ 323,080
Net income	$ 244,684	$ 140,153	$ 444,528	$ 323,080
Shares used in net income per share computation:
Weighted average shares outstanding - basic (in shares)	155,933	161,244	157,568	163,042
Effect of potentially dilutive equivalent shares (in shares)	1,507	1,285	1,275	1,385
Weighted average shares outstanding - diluted (in shares)	157,440	162,529	158,843	164,427
Net income per share:
Basic (in dollars per share)	$ 1.57	$ 0.87	$ 2.82	$ 1.98
Diluted (in dollars per share)	$ 1.55	$ 0.86	$ 2.80	$ 1.96

Net Income Per Share - Narrativ

Net Income Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Anti-dilutive equivalents shares excluded (in shares)	0.8	1.6	1.3	2

Employee Benefit Plans - Share-

Employee Benefit Plans - Share-based Compensation Expenses and Related Tax Benefits Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 20,613	$ 15,805	$ 64,192	$ 51,740
Income tax benefit	(3,391)	(3,276)	(11,257)	(7,496)
Total share-based compensation expense, net of income tax benefit	17,222	12,529	52,935	44,244
Cost of goods sold
Share-based compensation expense and related tax benefit
Total share-based compensation expense	2,189	1,324	6,066	4,228
Marketing and selling
Share-based compensation expense and related tax benefit
Total share-based compensation expense	8,878	8,014	28,623	25,240
Research and development
Share-based compensation expense and related tax benefit
Total share-based compensation expense	4,421	2,756	13,568	11,568
General and administrative
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 5,125	$ 3,711	$ 15,935	$ 10,704

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation expenses capitalized as inventory	$ 1.4	$ 1.3	$ 4.8	$ 4.4
Net periodic benefit cost	$ 1.9	$ 2.7	$ 5.7	$ 8.3

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Dec. 29, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Provision for (benefit from) income taxes		$ (9,594)	$ 42,663	$ 33,272	$ 87,751
Effective income tax rates (as a percent)		(4.10%)	23.30%	7%	21.40%
Expense (benefit) related to reversal of uncertain tax positions		$ (25,100)
Expense (benefit) due to remeasurement of deferred tax assets		$ (5,100)
Recognition of excess tax benefits				$ 17,900
Maximum
Income Tax Contingency [Line Items]
Effective income tax rates (as a percent)	14.28%
Minimum
Income Tax Contingency [Line Items]
Effective income tax rates (as a percent)	13.61%

Balance Sheet Components - Comp

Balance Sheet Components - Components of Certain Balance Sheet Asset Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Accounts receivable, net:
Accounts receivable	$ 970,549	$ 851,576
Accounts receivable, net	685,777	630,382
Inventories:
Raw materials	71,969	171,790
Finished goods	375,293	511,103
Inventory, net	447,262	682,893
Other current assets:
Value-added tax ("VAT") receivables	55,920	60,343
Prepaid expenses and other assets	94,834	82,533
Other current assets, total	150,754	142,876
Property, plant and equipment, net:
Property, plant and equipment	497,994	518,358
Less: accumulated depreciation and amortization	(378,794)	(396,855)
Property, plant and equipment, net	119,200	121,503
Other assets:
Deferred tax assets	197,460	171,989
Right-of-use assets	61,721	67,330
Investments in privately held companies	30,991	33,323
Other assets	6,517	15,438
Other assets, total	326,594	316,293
Deferred Compensation
Other assets:
Investments for deferred compensation plan	29,905	28,213
Allowance for doubtful accounts
Accounts receivable, net:
Valuation allowance for accounts receivable	0	(86)
Allowance for sales returns
Accounts receivable, net:
Valuation allowance for accounts receivable	(12,487)	(10,146)
Allowance for cooperative marketing arrangements
Accounts receivable, net:
Valuation allowance for accounts receivable	(47,165)	(40,495)
Allowance for customer incentive programs
Accounts receivable, net:
Valuation allowance for accounts receivable	(97,497)	(71,645)
Allowance for pricing programs
Accounts receivable, net:
Valuation allowance for accounts receivable	$ (127,623)	$ (98,822)

Balance Sheet Components - Co_2

Balance Sheet Components - Components of Certain Balance Sheet Liability Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Accrued and other current liabilities:
Accrued customer marketing, pricing and incentive programs	$ 193,216	$ 206,546
Accrued personnel expenses	142,936	103,592
Accrued loss for inventory purchase commitments	33,772	46,608
Accrued sales return liability	33,527	49,462
Warranty liabilities	28,784	28,861
VAT payable	37,748	33,328
Income taxes payable	28,136	18,788
Operating lease liabilities	14,915	12,655
Contingent consideration	1,809	6,629
Other current liabilities	158,592	136,670
Accrued and other current liabilities	673,435	643,139
Other non-current liabilities:
Operating lease liabilities	62,800	58,361
Employee benefit plan obligations	32,212	32,421
Obligation for deferred compensation plan	29,905	28,213
Warranty liabilities	12,993	12,025
Deferred tax liabilities	2,529	2,803
Other non-current liabilities	16,052	12,872
Non-current liabilities	$ 156,491	$ 146,695

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities, Classified by Level (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Liabilities:
Contingent consideration included in accrued and other current liabilities	$ 1,809	$ 6,629
Recurring | Level 1
Assets:
Cash equivalents	959,932	661,884
Investments for deferred compensation plan	29,905	28,213
Currency derivative assets included in other current assets	0	0
Liabilities:
Contingent consideration included in accrued and other current liabilities	0	0
Currency derivative liabilities included in accrued and other current liabilities	0	0
Recurring | Level 1 | Cash
Assets:
Investments for deferred compensation plan	402	41
Recurring | Level 1 | Common stock
Assets:
Investments for deferred compensation plan	1,257	988
Recurring | Level 1 | Money market funds
Assets:
Investments for deferred compensation plan	9,760	9,606
Recurring | Level 1 | Mutual funds
Assets:
Investments for deferred compensation plan	18,486	17,578
Recurring | Level 2
Assets:
Cash equivalents	0	0
Investments for deferred compensation plan	0	0
Currency derivative assets included in other current assets	118	107
Liabilities:
Contingent consideration included in accrued and other current liabilities	0	0
Currency derivative liabilities included in accrued and other current liabilities	1,813	2,187
Recurring | Level 2 | Cash
Assets:
Investments for deferred compensation plan	0	0
Recurring | Level 2 | Common stock
Assets:
Investments for deferred compensation plan	0	0
Recurring | Level 2 | Money market funds
Assets:
Investments for deferred compensation plan	0	0
Recurring | Level 2 | Mutual funds
Assets:
Investments for deferred compensation plan	0	0
Recurring | Level 3
Assets:
Cash equivalents	0	0
Investments for deferred compensation plan	0	0
Currency derivative assets included in other current assets	0	0
Liabilities:
Contingent consideration included in accrued and other current liabilities	1,809	6,629
Currency derivative liabilities included in accrued and other current liabilities	0	0
Recurring | Level 3 | Cash
Assets:
Investments for deferred compensation plan	0	0
Recurring | Level 3 | Common stock
Assets:
Investments for deferred compensation plan	0	0
Recurring | Level 3 | Money market funds
Assets:
Investments for deferred compensation plan	0	0
Recurring | Level 3 | Mutual funds
Assets:
Investments for deferred compensation plan	$ 0	$ 0

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Change in Fair Value of Contingent Consideration [Roll Forward]
Beginning of the period	$ 6,629	$ 12,259
Fair value of contingent consideration upon acquisition	0	2,151
Payments of contingent consideration	(5,002)	(5,954)
Effect of foreign currency exchange rate changes	182	(1,843)
End of the period	$ 1,809	$ 6,613

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)		3 Months Ended					9 Months Ended		12 Months Ended
	May 19, 2021 USD ($) milestone	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Jan. 04, 2021 USD ($) milestone
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration upon acquisition							$ 0	$ 2,151,000
Payment of contingent consideration for business acquisition							5,002,000	5,954,000
Equity method investments		$ 18,400,000					18,400,000		$ 20,500,000
Impairment of non-marketable investments		0				$ 21,400,000	0
Equity investments included in other assets		12,100,000					12,100,000		12,600,000
Unrealized gain, before tax				$ 6,900,000
Impairment of financial assets		0						0
Impairment loss, before tax				$ 9,600,000
Impairment of non-financial assets		0			$ 0		0	$ 0
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments for deferred compensation plan		$ 29,905,000					$ 29,905,000		28,213,000
Small Technology Acquisition
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future potential earn-out payments	$ 10,000,000
Number of technical development milestones | milestone	3
Fair value of contingent consideration upon acquisition	$ 10,000,000
Small Technology Acquisition | First Technical Development Milestone
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment of contingent consideration for business acquisition										$ 900,000
Small Technology Acquisition | Second Technical Development Milestone
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment of contingent consideration for business acquisition									4,000,000
Small Technology Acquisition | Third Technical Development Milestone
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment of contingent consideration for business acquisition			$ 3,300,000
Second Small Technology Acquisition
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future potential earn-out payments											$ 3,000,000
Number of technical development milestones | milestone											2
Second Small Technology Acquisition | First Technical Development Milestone
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment of contingent consideration for business acquisition									$ 2,000,000
Second Small Technology Acquisition | Second Technical Development Milestone
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment of contingent consideration for business acquisition			$ 1,000,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Foreign exchange forward | Designated as hedging instruments | Cash flow hedges
Derivative [Line Items]
Derivative term of contract	4 months
Derivative, notional amount	$ 91.2	$ 72.6
Cash flow hedge gains to be reclassified within twelve months	$ (1.6)
Foreign exchange forward and swap | Not designated as hedging instrument
Derivative [Line Items]
Derivative term of contract	1 month
Derivative, notional amount	$ 78.2	$ 111.2

Derivative Financial Instrume_4

Derivative Financial Instruments - Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	$ (2,539)	$ (6,325)	$ (1,165)	$ 5,239
Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	(863)	(4,728)	3,493	(11,766)
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	(2,539)	(6,325)	(1,165)	5,239
Amount of (Gain) Loss Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	$ (863)	$ (4,728)	$ 3,493	$ (11,766)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Activity In Goodwill Balance (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill
Balance at the beginning of the period	$ 454,610
Acquisition	8,117
Effects of foreign currency translation	1,251
Balance at the end of the period	$ 463,978

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 212,210	$ 232,135
Accumulated Amortization	(158,486)	(168,962)
Net Carrying Amount	53,724	63,173
Effects of foreign currency translation, Gross Carrying Amount	(214)	(1,021)
Effects of foreign currency translation, Accumulated Amortization	81	292
Effects of foreign currency translation, Net Carrying Amount	(133)	(729)
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	32,390	36,790
Accumulated Amortization	(25,005)	(26,774)
Net Carrying Amount	7,385	10,016
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	107,421	121,730
Accumulated Amortization	(84,398)	(94,792)
Net Carrying Amount	23,023	26,938
Customer contracts/relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	69,087	71,110
Accumulated Amortization	(49,164)	(47,688)
Net Carrying Amount	19,923	23,422
In-process R&D
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,526	3,526
Net Carrying Amount	$ 3,526	$ 3,526

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Financing Arrangements
Outstanding borrowings	$ 0	$ 0
Line of credit
Financing Arrangements
Maximum borrowing capacity	176,100,000	181,300,000
Outstanding bank guarantees	$ 11,100,000	$ 13,600,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Changes in Warranty Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Changes in the warranty liability:
Beginning of the period	$ 40,265	$ 41,960	$ 40,886	$ 46,219
Provision	11,249	8,920	30,734	23,440
Settlements	(10,158)	(8,979)	(29,914)	(26,358)
Effects of foreign currency translation	421	730	71	(670)
End of the period	$ 41,777	$ 42,631	$ 41,777	$ 42,631

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details)	Dec. 31, 2023 USD ($)
Indemnification Agreement
Other Commitments [Line Items]
Amount accrued for indemnification provisions	$ 0

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) $ / shares in Units, shares in Thousands	1 Months Ended			3 Months Ended		9 Months Ended				39 Months Ended
	Jun. 30, 2023 USD ($) shares	Jul. 31, 2022 USD ($)	Apr. 30, 2021 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) SFr / shares shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2022 SFr / shares	Jul. 27, 2023 USD ($) shares	Mar. 31, 2023 shares	May 31, 2020 USD ($)
Class of Stock [Line Items]
Stock repurchased (in shares) | shares						3,000
Aggregate purchase price				$ 172,422,000	$ 90,170,000	$ 391,594,000		$ 327,731,000
Maximum percentage of shares held by the company and its subsidiaries	10%
Maximum shares available for purchase (in shares) | shares	17,300
Stock repurchase program, cancel, percentage						10%
Treasury, at cost, shares (in shares) | shares				18,108		18,108	18,108				13,763
Cash dividends per share (in dollars per share) | (per share)						$ 1.19	SFr 1.06	$ 1	SFr 0.96
Payment of cash dividends						$ 187,199,000		$ 162,681,000
2020 Share Repurchase Program
Class of Stock [Line Items]
Authorized amount in buyback program		$ 1,500,000,000	$ 1,000,000,000									$ 250,000,000
Increase in authorized amount		$ 500,000,000	$ 750,000,000
Stock repurchased (in shares) | shares						2,600				16,700
Aggregate purchase price						$ 159,100,000				$ 1,200,000,000
2023 Share Repurchase Program
Class of Stock [Line Items]
Authorized amount in buyback program	$ 1,000,000,000
Stock repurchased (in shares) | shares						3,000
Aggregate purchase price						$ 232,500,000
Period to complete share repurchase program	3 years
Aggregate cost of share						14,800,000
Amount available for repurchase				$ 767,800,000		$ 767,800,000	SFr 767,800,000

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	$ 2,077,265	$ 2,168,561	$ 2,257,560	$ 2,398,738
Other comprehensive income	22,417	22,026	15,748	(12,845)
End of the period	2,190,101	2,258,666	2,190,101	2,258,666
Total
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(106,946)	(138,994)	(100,277)	(104,123)
Other comprehensive income			15,748
End of the period	(84,529)	$ (116,968)	(84,529)	$ (116,968)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(100,869)
Other comprehensive income			13,168
End of the period	(87,701)		(87,701)
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			4,525
Other comprehensive income			252
End of the period	4,777		4,777
Deferred Hedging Losses
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(3,933)
Other comprehensive income			2,328
End of the period	$ (1,605)		$ (1,605)

Segment Information - Net Sales

Segment Information - Net Sales by Product Categories, Excluding Intercompany Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 1,255,473	$ 1,269,925	$ 3,286,980	$ 3,578,741
Gaming
Segment Reporting Information [Line Items]
Net sales	409,043	411,927	957,576	1,031,876
Keyboards & Combos
Segment Reporting Information [Line Items]
Net sales	229,432	220,059	605,201	648,632
Pointing Devices
Segment Reporting Information [Line Items]
Net sales	206,180	199,106	572,310	567,589
Video Collaboration
Segment Reporting Information [Line Items]
Net sales	169,522	173,516	461,257	534,347
Webcams
Segment Reporting Information [Line Items]
Net sales	85,851	94,252	249,273	305,532
Tablet Accessories
Segment Reporting Information [Line Items]
Net sales	64,239	65,157	198,252	185,945
Headsets
Segment Reporting Information [Line Items]
Net sales	41,762	46,736	123,023	137,429
Other
Segment Reporting Information [Line Items]
Net sales	$ 49,444	$ 59,172	$ 120,088	$ 167,391

Segment Information - Net Sal_2

Segment Information - Net Sales and Long-Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	$ 1,255,473	$ 1,269,925	$ 3,286,980	$ 3,578,741
Property, plant and equipment, net	158,569		158,569		$ 168,012
Americas
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	538,530	513,835	1,446,104	1,508,318
Property, plant and equipment, net	68,996		68,996		59,183
EMEA
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	416,618	428,532	987,301	1,016,187
Property, plant and equipment, net	32,839		32,839		38,890
Asia Pacific
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	300,325	$ 327,558	853,575	$ 1,054,236
Property, plant and equipment, net	$ 56,734		$ 56,734		$ 69,939

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) | segment			1
Long lived assets	$ 158,569		$ 158,569		$ 168,012
United States
Segment Reporting Information [Line Items]
Long lived assets	67,800		67,800		58,700
China
Segment Reporting Information [Line Items]
Long lived assets	37,600		37,600		48,800
Ireland
Segment Reporting Information [Line Items]
Long lived assets	16,900		16,900		17,700
Switzerland
Segment Reporting Information [Line Items]
Long lived assets	$ 9,800		$ 9,800		$ 13,700
Geographic concentration | Consolidated net sales from continuing operations | Switzerland
Segment Reporting Information [Line Items]
Percentage of consolidated net sales	3%	4%	2%	3%

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring-Related Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Beginning balance			$ 19,534
Charges (credits), net	$ 839	$ 5,654	2,562	$ 16,471
Cash payments			(19,269)
Ending balance	2,827		2,827
Termination Benefits
Restructuring Reserve [Roll Forward]
Beginning balance			14,177
Charges (credits), net			4,310
Cash payments			(17,688)
Ending balance	799		799
Contract Termination and Other
Restructuring Reserve [Roll Forward]
Beginning balance			5,357
Charges (credits), net			(1,748)
Cash payments			(1,581)
Ending balance	$ 2,028		$ 2,028