Prestige Consumer Healthcare (PBH) 10-Q31 Oct 192020 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Sep. 30, 2019	Oct. 25, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-32433
Entity Registrant Name	PRESTIGE CONSUMER HEALTHCARE INC.
Entity Central Index Key	0001295947
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1297589
Entity Address, Address Line One	660 White Plains Road
Entity Address, City or Town	Tarrytown
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10591
City Area Code	914
Local Phone Number	524-6800
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	PBH
Security Exchange Name	NYSE
Entity 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		50,232,558

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues
Total revenues	$ 238,069	$ 239,357	$ 470,223	$ 493,337
Cost of Sales
Cost of sales excluding depreciation	100,318	100,647	197,418	212,716
Cost of sales depreciation	1,000	1,238	1,987	2,526
Cost of sales	101,318	101,885	199,405	215,242
Gross profit	136,751	137,472	270,818	278,095
Operating Expenses
Advertising and promotion	38,667	37,042	73,468	74,153
General and administrative	22,514	24,034	44,220	47,975
Depreciation and amortization	6,222	6,756	12,296	13,840
Gain on divestiture	0	(1,284)	0	(1,284)
Total operating expenses	67,403	66,548	129,984	134,684
Operating income	69,348	70,924	140,834	143,411
Other (income) expense
Interest income	(32)	(33)	(75)	(133)
Interest expense	24,509	27,103	49,572	53,143
Other expense, net	859	335	1,275	422
Total other expense	25,336	27,405	50,772	53,432
Income before income taxes	44,012	43,519	90,062	89,979
Provision for income taxes	10,760	12,678	22,885	24,672
Net income	$ 33,252	$ 30,841	$ 67,177	$ 65,307
Earnings per share:
Basic (in USD per share)	$ 0.66	$ 0.59	$ 1.32	$ 1.25
Diluted (in USD per share)	$ 0.65	$ 0.59	$ 1.31	$ 1.24
Weighted average shares outstanding:
Basic (in shares)	50,455	51,841	51,073	52,238
Diluted (in shares)	50,811	52,153	51,426	52,545
Comprehensive income, net of tax:
Currency translation adjustments	$ (3,584)	$ (2,145)	$ (3,808)	$ (5,119)
Total other comprehensive loss	(3,584)	(2,145)	(3,808)	(5,119)
Comprehensive income	29,668	28,696	63,369	60,188
Net sales
Revenues
Total revenues	238,051	239,354	470,184	493,308
Other revenues
Revenues
Total revenues	$ 18	$ 3	$ 39	$ 29

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Current assets
Cash and cash equivalents	$ 27,905	$ 27,530
Accounts receivable, net of allowance of $18,095 and $12,965, respectively	142,602	148,787
Inventories	126,362	119,880
Prepaid expenses and other current assets	8,017	4,741
Total current assets	304,886	300,938
Property, plant and equipment, net	52,500	51,176
Operating lease right-of-use asset	33,145	0
Goodwill	577,544	578,583
Intangible assets, net	2,493,469	2,507,210
Other long-term assets	3,216	3,129
Total Assets	3,464,760	3,441,036
Current liabilities
Accounts payable	64,941	56,560
Accrued interest payable	9,458	9,756
Operating lease liabilities, current portion	7,016	0
Other accrued liabilities	65,479	60,663
Total current liabilities	146,894	126,979
Long-term debt, net	1,754,171	1,798,598
Deferred income tax liabilities	404,632	399,575
Long-term operating lease liability, net of current portion	27,457	0
Other long-term liabilities	18,816	20,053
Total Liabilities	2,351,970	2,345,205
Commitments and Contingencies — Note 16
Stockholders' Equity
Preferred stock - $0.01 par value; Authorized - 5,000 shares; Issued and outstanding - None	0	0
Common stock - $0.01 par value; Authorized - 250,000 shares; Issued - 53,755 shares at September 30, 2019 and 53,670 shares at March 31, 2019	537	536
Additional paid-in capital	483,595	479,150
Treasury stock, at cost - 3,523 shares at September 30, 2019 and 1,871 shares at March 31, 2019	(110,784)	(59,928)
Accumulated other comprehensive loss, net of tax	(29,555)	(25,747)
Retained earnings	768,997	701,820
Total Stockholders' Equity	1,112,790	1,095,831
Total Liabilities and Stockholders' Equity	$ 3,464,760	$ 3,441,036

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 18,095	$ 12,965
Stockholders' Equity:
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	53,755,000	53,670,000
Treasury stock (in shares)	3,523,000	1,871,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Common stock, beginning balance (in shares) at Mar. 31, 2018		53,396,000
Equity, beginning balance at Mar. 31, 2018	$ 1,178,610	$ 534	$ 468,783	$ (7,669)	$ (19,315)	$ 736,277
Treasury stock, beginning balance (in shares) at Mar. 31, 2018				353,000
Stock-based compensation	$ 4,328		4,328
Exercise of stock options (in shares)	37,200	37,000
Exercise of stock options	$ 1,028		1,028
Issuance of shares related to restricted stock (in shares)		176,000
Issuance of shares related to restricted stock	$ 0	$ 2	(2)
Treasury share repurchases (in shares)	1,449,750			1,518,000
Treasury share repurchases	$ (52,259)			$ (52,259)
Net income	65,307					65,307
Comprehensive loss	(5,119)				(5,119)
Common stock, ending balance (in shares) at Sep. 30, 2018		53,609,000
Equity, ending balance at Sep. 30, 2018	1,193,238	$ 536	474,137	$ (59,928)	(24,434)	802,927
Treasury stock, ending balance (in shares) at Sep. 30, 2018				1,871,000
Common stock, beginning balance (in shares) at Jun. 30, 2018		53,603,000
Equity, beginning balance at Jun. 30, 2018	1,161,723	$ 536	471,318	$ (59,928)	(22,289)	772,086
Treasury stock, beginning balance (in shares) at Jun. 30, 2018				1,871,000
Stock-based compensation	2,671		2,671
Exercise of stock options (in shares)		4,000
Exercise of stock options	148		148
Issuance of shares related to restricted stock (in shares)		2,000
Issuance of shares related to restricted stock	0
Net income	30,841					30,841
Comprehensive loss	(2,145)				(2,145)
Common stock, ending balance (in shares) at Sep. 30, 2018		53,609,000
Equity, ending balance at Sep. 30, 2018	1,193,238	$ 536	474,137	$ (59,928)	(24,434)	802,927
Treasury stock, ending balance (in shares) at Sep. 30, 2018				1,871,000
Common stock, beginning balance (in shares) at Mar. 31, 2019		53,670,000
Equity, beginning balance at Mar. 31, 2019	$ 1,095,831	$ 536	479,150	$ (59,928)	(25,747)	701,820
Treasury stock, beginning balance (in shares) at Mar. 31, 2019	1,871,000			1,871,000
Stock-based compensation	$ 3,902		3,902
Exercise of stock options (in shares)	18,400	18,000
Exercise of stock options	$ 544		544
Issuance of shares related to restricted stock (in shares)		67,000
Issuance of shares related to restricted stock	$ 0	$ 1	(1)
Treasury share repurchases (in shares)	1,622,544			1,652,000
Treasury share repurchases	$ (50,856)			$ (50,856)
Net income	67,177					67,177
Comprehensive loss	(3,808)				(3,808)
Common stock, ending balance (in shares) at Sep. 30, 2019		53,755,000
Equity, ending balance at Sep. 30, 2019	$ 1,112,790	$ 537	483,595	$ (110,784)	(29,555)	768,997
Treasury stock, ending balance (in shares) at Sep. 30, 2019	3,523,000			3,523,000
Common stock, beginning balance (in shares) at Jun. 30, 2019		53,741,000
Equity, beginning balance at Jun. 30, 2019	$ 1,101,623	$ 537	480,805	$ (89,493)	(25,971)	735,745
Treasury stock, beginning balance (in shares) at Jun. 30, 2019				2,848,000
Stock-based compensation	2,521		2,521
Exercise of stock options (in shares)		9,000
Exercise of stock options	269		269
Issuance of shares related to restricted stock (in shares)		5,000
Issuance of shares related to restricted stock	$ 0
Treasury share repurchases (in shares)	672,719			675,000
Treasury share repurchases	$ (21,291)			$ (21,291)
Net income	33,252					33,252
Comprehensive loss	(3,584)				(3,584)
Common stock, ending balance (in shares) at Sep. 30, 2019		53,755,000
Equity, ending balance at Sep. 30, 2019	$ 1,112,790	$ 537	$ 483,595	$ (110,784)	$ (29,555)	$ 768,997
Treasury stock, ending balance (in shares) at Sep. 30, 2019	3,523,000			3,523,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating Activities
Net income	$ 67,177	$ 65,307
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,283	16,366
Gain on divestiture	0	(1,284)
Loss on disposal of property and equipment	19	37
Deferred income taxes	5,827	339
Amortization of debt origination costs	1,711	3,021
Stock-based compensation costs	3,902	4,328
Non-cash operating lease cost	3,154	0
Other	0	247
Changes in operating assets and liabilities:
Accounts receivable	5,982	(7,718)
Inventories	(6,400)	(4,145)
Prepaid expenses and other current assets	(3,128)	1,302
Accounts payable	8,465	4,187
Accrued liabilities	6,616	14,339
Operating lease liabilities	(3,398)	0
Other	(1,210)	(1,219)
Net cash provided by operating activities	103,000	95,107
Investing Activities
Purchases of property, plant and equipment	(5,822)	(5,074)
Proceeds from divestiture	0	65,912
Net cash (used in) provided by investing activities	(5,822)	60,838
Financing Activities
Term loan repayments	0	(100,000)
Borrowings under revolving credit agreement	30,000	30,000
Repayments under revolving credit agreement	(76,000)	(30,000)
Proceeds from exercise of stock options	544	1,028
Fair value of shares surrendered as payment of tax withholding	(880)	(2,281)
Repurchase of common stock	(49,976)	(49,978)
Net cash used in financing activities	(96,312)	(151,231)
Effects of exchange rate changes on cash and cash equivalents	(491)	(352)
Increase in cash and cash equivalents	375	4,362
Cash and cash equivalents - beginning of period	27,530	32,548
Cash and cash equivalents - end of period	27,905	36,910
Interest paid	48,033	49,147
Income taxes paid	$ 14,655	$ 7,778

Business and Basis of Presentat

Business and Basis of Presentation	6 Months Ended
Business and Basis of Presentation	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Nature of Business Prestige Consumer Healthcare Inc. (referred to herein as the “Company” or “we,” which reference shall, unless the context requires otherwise, be deemed to refer to Prestige Consumer Healthcare Inc. and all of its direct and indirect 100% owned subsidiaries on a consolidated basis) is engaged in the development, manufacturing, marketing, sales and distribution of over-the-counter (“OTC”) healthcare and household cleaning products (prior to the sale of our Household Cleaning segment, as discussed in Note 2) to mass merchandisers and drug, food, dollar, convenience and club stores and e-commerce channels in North America (the United States and Canada), and in Australia and certain other international markets. Prestige Consumer Healthcare Inc. is a holding company with no operations and is also the parent guarantor of the senior credit facility and the senior notes described in Note 8. Basis of Presentation The unaudited Condensed Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, these Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, that are considered necessary for a fair statement of our consolidated financial position, results of operations and cash flows for the interim periods presented. Our fiscal year ends on March 31 st of each year. References in these Condensed Consolidated Financial Statements or related notes to a year (e.g., 2020 ) mean our fiscal year ending or ended on March 31 st of that year. Operating results for the six months ended September 30, 2019 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2020 . These unaudited Condensed Consolidated Financial Statements and related notes should be read in conjunction with our audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on our knowledge of current events and actions that we may undertake in the future, actual results could differ from those estimates. Our most significant estimates include those made in connection with the valuation of intangible assets, stock-based compensation, fair value of debt, sales returns and allowances, trade promotional allowances, inventory obsolescence, and accounting for income taxes and related uncertain tax positions. Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842). This update amended a number of aspects of lease accounting, including requiring lessees to recognize all leases with a term greater than one year as a right-of-use ("ROU") asset and corresponding lease liability, measured at the present value of the lease payments. On April 1, 2019, we adopted Topic 842 using the modified retrospective approach. Results for the three and six months ended September 30, 2019 are presented under Topic 842. No prior period amounts were adjusted and the prior period continues to be reported in accordance with previous lease guidance, Accounting Standards Codification ("ASC") Topic 840, Leases . The new standard provided a number of optional practical expedients in transition. We elected the package of transition provisions available for expired or existing contracts, which allowed us to carryforward our historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2019 are as follows: (In thousands) March 31, 2019 New Lease Standard Adjustment April 1, 2019 Assets: Operating lease ROU assets $ — $ 17,435 $ 17,435 Liabilities: Operating lease liabilities, current portion $ — $ (5,697 ) $ (5,697 ) Long-term operating lease liabilities, net of current portion $ — $ (13,296 ) $ (13,296 ) Other accrued liabilities (1) $ (60,663 ) $ 1,558 $ (59,105 ) (1) Relates to deferred rent and exit costs associated with existing leases. Adoption of this accounting pronouncement had no impact on our other financial statements. See Note 6 for our lease accounting policy. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by eliminating certain required disclosures and incorporating others. The amendments are effective for public companies for fiscal years ending after December 15, 2020. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements in Topic 820, with a particular focus on Level 3 investments, by eliminating certain required disclosures and incorporating others. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments . The amendments in this update provide financial statement users with more useful information about expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. These amendments clarify and improve areas of guidance related to recently issued standards on the topics of credit losses, hedging and recognition and measurements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief , which provides entities that have certain instruments an option to irrevocably elect the fair value option in Subtopic 825-10. The amendments in these updates are effective for us for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact of adopting this guidance on our Consolidated Financial Statements.

Divestitures

Divestitures	6 Months Ended
Divestitures	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures On July 2, 2018, we sold the Comet®, Spic and Span®, Chore Boy®, Chlorinol® and Cinch® brands, as well as associated inventory. These brands represented our Household Cleaning segment. As a result of this transaction, we received proceeds of approximately $65.9 million and recorded a pre-tax gain on sale of $1.3 million

Inventories

Inventories	6 Months Ended
Inventories	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: (In thousands) September 30, 2019 March 31, 2019 Components of Inventories Packaging and raw materials $ 11,341 $ 17,082 Work in process 322 161 Finished goods 114,699 102,637 Inventories $ 126,362 $ 119,880 Inventories are carried and depicted above at the lower of cost or net realizable value, which includes a reduction in inventory values of $6.7 million and $5.5 million at September 30, 2019 and March 31, 2019

Goodwill

Goodwill	6 Months Ended
Goodwill	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill A reconciliation of the activity affecting goodwill by operating segment is as follows: (In thousands) North American OTC International OTC Consolidated Balance - March 31, 2019 Goodwill $ 711,104 $ 31,190 $ 742,294 Accumulated impairment loss (163,711 ) — (163,711 ) Balance - March 31, 2019 547,393 31,190 578,583 2020 Reductions: Effects of foreign currency exchange rates — (1,039 ) (1,039 ) Balance - September 30, 2019 Goodwill 711,104 30,151 741,255 Accumulated impairment loss (163,711 ) — (163,711 ) Balance - September 30, 2019 $ 547,393 $ 30,151 $ 577,544 Under accounting guidelines, goodwill is not amortized, but must be tested for impairment annually, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below the carrying amount. On an annual basis during the fourth quarter of each fiscal year, or more frequently if conditions indicate that the carrying value of the asset may not be recoverable, management performs a review of the values assigned to goodwill and tests for impairment. The date of our annual impairment review was February 28, 2019 , and we recorded impairment charges in our March 31, 2019 financial statements. We utilize the discounted cash flow method to estimate the fair value of our reporting units as part of the goodwill impairment test. We also considered our market capitalization at February 28, 2019 , which was the date of our annual review, as compared to the aggregate fair values of our reporting units, to assess the reasonableness of our estimates pursuant to the discounted cash flow methodology. The estimates and assumptions made in assessing the fair value of our reporting units and the valuation of the underlying assets and liabilities are inherently subject to significant uncertainties. Consequently, changing rates of interest and inflation, declining sales or margins, increasing competition, changing consumer preferences, technical advances, or reductions in advertising and promotion may require an additional impairment charge to be recorded in the future. As of September 30, 2019 , no events have occurred that would indicate potential impairment of goodwill.

Intangible Assets, net

Intangible Assets, net	6 Months Ended
Intangible Assets, net	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net	Intangible Assets, net A reconciliation of the activity affecting intangible assets, net is as follows: (In thousands) Indefinite- Lived Trademarks Finite-Lived Totals Gross Carrying Amounts Balance — March 31, 2019 $ 2,273,191 $ 390,283 $ 2,663,474 Effects of foreign currency exchange rates (3,770 ) (211 ) (3,981 ) Balance — September 30, 2019 2,269,421 390,072 2,659,493 Accumulated Amortization Balance — March 31, 2019 — 156,264 156,264 Additions — 9,816 9,816 Effects of foreign currency exchange rates — (56 ) (56 ) Balance — September 30, 2019 — 166,024 166,024 Intangible assets, net - September 30, 2019 $ 2,269,421 $ 224,048 $ 2,493,469 Amortization expense was $4.9 million and $9.8 million for the three and six months ended September 30, 2019 , respectively, and $5.4 million and $11.2 million for the three and six months ended September 30, 2018 , respectively. Based on our amortizable intangible assets as of September 30, 2019 , amortization expense is expected to be approximately $9.8 million for the remainder of fiscal 2020 , $19.6 million in each of fiscal 2021 , 2022 , 2023 and 2024 and $135.8 million thereafter. Under accounting guidelines, indefinite-lived assets are not amortized, but must be tested for impairment annually, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the asset below the carrying amount. The date of our annual impairment review was February 28, 2019 , and we recorded impairment charges in our March 31, 2019 financial statements. Additionally, at each reporting period, an evaluation must be made to determine whether events and circumstances continue to support an indefinite useful life. Intangible assets with finite lives are amortized over their respective estimated useful lives and are also tested for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable and exceeds its fair value. We utilize the excess earnings method to estimate the fair value of our individual indefinite-lived intangible assets. The discount rate utilized in the analyses, as well as future cash flows, may be influenced by such factors as changes in interest rates and rates of inflation. Additionally, should the related fair values of intangible assets be adversely affected as a result of declining sales or margins caused by competition, changing consumer preferences, technological advances or reductions in advertising and promotional expenses, we may be required to record impairment charges in the future. As of September 30, 2019

Leases

Leases	6 Months Ended
Leases	Sep. 30, 2019
Leases [Abstract]
Leases	Leases We lease real estate and equipment for use in our operations. These leases have lease terms of 1 to 10 years, some of which include options to terminate or extend leases for up to 1 to 6 years or on a month-to-month basis. The exercise of lease renewal options is at our sole discretion and our lease ROU assets and liabilities reflect only the options we are reasonably certain that we will exercise. We determine if an arrangement is or contains a lease at inception by assessing whether the arrangement contains an identified asset and whether we have the right to control the identified asset. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. ROU assets are based on the measurement of the lease liability and also include any lease payments made prior to or on lease commencement and exclude lease incentives and initial direct costs incurred, as applicable. Variable lease payments, which do not vary based on an index or rate, are excluded from the ROU asset and lease liability determination. Variable lease payments are typically usage-based and are recorded in the period in which the obligation for those payments is incurred. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As the implicit rate in our leases is unknown, we used our incremental borrowing rate based on the information available at the date of adoption for existing leases and at the lease commencement date for new leases in determining the present value of future lease payments. We give consideration to our credit risk, term of the lease, total lease payments and adjust for the impacts of collateral, as necessary, when calculating our incremental borrowing rates. Rent expense for our operating leases is recognized on a straight-line basis over the lease term. For the measurement and classification of our lease agreements, we group lease and non-lease components into a single lease component for all underlying asset classes. We have also elected to exclude any leases within our existing classes of assets with a term of twelve months or less. The components of lease expense for the three and six months ended September 30, 2019 was as follows: (In thousands) Three Months Ended September 30, 2019 Six Months Ended September 30, 2019 Operating lease cost $ 2,242 $ 3,458 Short term lease cost 27 50 Variable lease cost 15,696 32,295 Sublease income (860 ) (1,774 ) Total net lease cost $ 17,105 $ 34,029 As of September 30, 2019 , the maturities of operating lease liabilities were as follows: (In thousands) Year Ending March 31, 2020 (Remaining six months ending March 31, 2020) $ 4,775 2021 7,053 2022 6,529 2023 6,304 2024 6,294 Thereafter 9,095 Total undiscounted lease payments 40,050 Less imputed interest (5,577 ) Total present value of lease payments $ 34,473 As of September 30, 2019 , the weighted average remaining lease term was 5.61 years and the weighted average discount rate used to determine the operating lease liability was 5.27% . The following table summarizes future minimum lease payments for our operating leases as of March 31, 2019, before adoption of Topic 842: (In thousands) Facilities Equipment Total Year Ending March 31, 2020 $ 2,828 $ 314 $ 3,142 2021 2,633 248 2,881 2022 2,265 213 2,478 2023 1,684 105 1,789 2024 1,705 — 1,705 Thereafter 6,780 — 6,780 $ 17,895 $ 880 $ 18,775 On May 13, 2019, we entered into a Master Logistics Services Agreement with GEODIS Logistics LLC (“GEODIS”), pursuant to which GEODIS serves as a new third party logistics provider. The agreement has an initial term of five years with an option to renew for an additional five year term. Under the Master Logistics Services Agreement, we have authorized GEODIS to lease a facility under a five year term. The lease commenced in July 2019 and the lease and non-lease components are recorded in our second quarter fiscal year 2020 financial statements. The ROU asset and operating lease liability at lease commencement was $18.9 million .

Other Accrued Liabilities

Other Accrued Liabilities	6 Months Ended
Other Accrued Liabilities	Sep. 30, 2019
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consist of the following: (In thousands) September 30, 2019 March 31, 2019 Accrued marketing costs $ 33,895 $ 31,228 Accrued compensation costs 7,117 10,958 Accrued broker commissions 388 1,361 Income taxes payable 2,924 88 Accrued professional fees 4,280 2,441 Accrued production costs 8,805 6,788 Other accrued liabilities 8,070 7,799 $ 65,479 $ 60,663

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt At September 30, 2019 , we had $29.0 million outstanding on the asset-based revolving credit facility entered into January 31, 2012, as amended (the "2012 ABL Revolver") and an additional borrowing capacity of $125.0 million . Long-term debt consists of the following, as of the dates indicated: (In thousands, except percentages) September 30, 2019 March 31, 2019 2016 Senior Notes bearing interest at 6.375%, with interest payable on March 1 and September 1 of each year. The 2016 Senior Notes mature on March 1, 2024. $ 600,000 $ 600,000 2013 Senior Notes bearing interest at 5.375%, with interest payable on June 15 and December 15 of each year. The 2013 Senior Notes mature on December 15, 2021. 400,000 400,000 2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.00%, or an alternate base rate plus a margin of 1.00%, with a floor of 1.00%, due on January 26, 2024. 738,000 738,000 2012 ABL Revolver bearing interest at the Borrower's option at either a base rate plus applicable margin or LIBOR plus applicable margin. Any unpaid balance is due on January 26, 2022. 29,000 75,000 Long-term debt 1,767,000 1,813,000 Less: unamortized debt costs (12,829 ) (14,402 ) Long-term debt, net $ 1,754,171 $ 1,798,598 As of September 30, 2019 , aggregate future principal payments required in accordance with the terms of the 2012 Term B-5 Loans, 2012 ABL Revolver and the indentures governing the 6.375% senior unsecured notes due 2024 (the "2016 Senior Notes") and the 5.375% senior unsecured notes due 2021 (the "2013 Senior Notes") are as follows: (In thousands) Year Ending March 31, Amount 2020 (remaining six months ending March 31, 2020) $ — 2021 — 2022 429,000 2023 — 2024 1,338,000 Thereafter — $ 1,767,000

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements For certain of our financial instruments, including cash, accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their respective fair values due to the relatively short maturity of these amounts. FASB ASC 820, Fair Value Measurements , requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market assuming an orderly transaction between market participants. ASC 820 established market (observable inputs) as the preferred source of fair value, to be followed by our assumptions of fair value based on hypothetical transactions (unobservable inputs) in the absence of observable market inputs. Based upon the above, the following fair value hierarchy was created: Level 1 - Quoted market prices for identical instruments in active markets; Level 2 - Quoted prices for similar instruments in active markets, as well as quoted prices for identical or similar instruments in markets that are not considered active; and Level 3 - Unobservable inputs developed by us using estimates and assumptions reflective of those that would be utilized by a market participant. The market values have been determined based on market values for similar instruments adjusted for certain factors. As such, the 2016 Senior Notes, the 2013 Senior Notes, the 2012 Term B-5 Loans, and the 2012 ABL Revolver are measured in Level 2 of the above hierarchy. See summary below detailing the carrying amounts and estimated fair values of these borrowings at September 30, 2019 and March 31, 2019 . September 30, 2019 March 31, 2019 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2016 Senior Notes $ 600,000 $ 624,000 $ 600,000 $ 606,000 2013 Senior Notes 400,000 402,000 400,000 401,500 2012 Term B-5 Loans 738,000 739,845 738,000 728,775 2012 ABL Revolver 29,000 29,000 75,000 75,000 At September 30, 2019 and March 31, 2019

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity We are authorized to issue 250.0 million shares of common stock, $0.01 par value per share, and 5.0 million shares of preferred stock, $0.01 par value per share. The Board of Directors may direct the issuance of the undesignated preferred stock in one or more series and determine preferences, privileges and restrictions thereof. Each share of common stock has the right to one vote on all matters submitted to a vote of stockholders. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Board of Directors, subject to prior rights of holders of all classes of outstanding stock having priority rights as to dividends. No dividends have been declared or paid on our common stock through September 30, 2019 . During the three and six months ended September 30, 2019 , we repurchased 2,273 shares and 28,537 shares, respectively, of common stock from our employees pursuant to the provisions of various employee restricted stock awards. The repurchases for the three and six months ended September 30, 2019 were at an average price of $35.32 and $30.83 per share, respectively. During the three months ended September 30, 2018 , we made no repurchases of common stock. During the six months ended September 30, 2018 , we repurchased 68,939 shares of common stock from our employees pursuant to the provisions of various employee restricted stock awards at an average price of $33.09 per share. All of the repurchased shares have been recorded as treasury stock. During the three and six months ended September 30, 2019 , we also repurchased 672,719 shares and 1,622,544 shares, respectively, of our common stock in conjunction with our share repurchase program. The repurchases for the three and six months ended September 30, 2019 were at an average price of $31.53 and $30.80 per share, respectively, and totaled $21.2 million and $50.0 million , respectively. During the six months ended September 30, 2018 , we repurchased 1,449,750 shares of our common stock in conjunction with our share repurchase program at an average price of $34.47 per share and a total of $50.0 million

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following at September 30, 2019 and March 31, 2019 : (In thousands) September 30, 2019 March 31, 2019 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (30,686 ) $ (26,878 ) Unrecognized net gain on pension plans, net of tax of $0.3 million and $0.3 million, respectively 1,131 1,131 Accumulated other comprehensive loss, net of tax $ (29,555 ) $ (25,747 ) As of September 30, 2019 and March 31, 2019 , no

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed based on income available to common stockholders and the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on income available to common stockholders and the weighted average number of shares of common stock outstanding plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method, which includes stock options and restricted stock units ("RSUs"). Potential common shares, composed of the incremental common shares issuable upon the exercise of outstanding stock options and nonvested RSUs, are included in the diluted earnings per share calculation to the extent that they are dilutive. In loss periods, the assumed exercise of in-the-money stock options and RSUs has an anti-dilutive effect, and therefore these instruments are excluded from the computation of diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended September 30, Six Months Ended September 30, (In thousands, except per share data) 2019 2018 2019 2018 Numerator Net income $ 33,252 $ 30,841 $ 67,177 $ 65,307 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,455 51,841 51,073 52,238 Dilutive effect of nonvested restricted stock units and options issued to employees and directors 356 312 353 307 Denominator for diluted earnings per share 50,811 52,153 51,426 52,545 Earnings per Common Share: Basic earnings per share $ 0.66 $ 0.59 $ 1.32 $ 1.25 Diluted earnings per share $ 0.65 $ 0.59 $ 1.31 $ 1.24 For the three months ended September 30, 2019 and 2018 , there were 0.7 million shares attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For the six months ended September 30, 2019 and 2018 , there were 0.9 million and 0.5 million

Share-Based Compensation

Share-Based Compensation	6 Months Ended
Share-Based Compensation	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation In connection with our initial public offering, the Board of Directors adopted the 2005 Long-Term Equity Incentive Plan (the “Plan”), which provides for grants of up to a maximum of 5.0 million shares of restricted stock, stock options, RSUs and other equity-based awards. In June 2014, the Board of Directors approved, and in July 2014, our stockholders ratified, an increase of an additional 1.8 million shares of our common stock for issuance under the Plan, an increase of the maximum number of shares subject to stock options that may be awarded to any one participant under the Plan during any fiscal 12-month period from 1.0 million to 2.5 million shares, and an extension of the term of the Plan by ten years, to February 2025. Directors, officers and other employees of the Company and its subsidiaries, as well as others performing services for the Company, are eligible for grants under the Plan. During the three and six months ended September 30, 2019 , pre-tax share-based compensation costs charged against income were $2.5 million and $3.9 million , respectively, and the related income tax benefit recognized was $0.4 million and $0.6 million , respectively. During the three and six months ended September 30, 2018 , pre-tax share-based compensation costs charged against income were $2.7 million and $4.3 million , respectively, and the related income tax benefit recognized was $0.5 million and $0.8 million , respectively. At September 30, 2019 , there were $9.2 million of unrecognized compensation costs related to nonvested share-based compensation arrangements under the Plan, based on management's estimate of the shares that will ultimately vest. We expect to recognize such costs over a weighted average period of 1.0 year. The total fair value of options and RSUs vested during the six months ended September 30, 2019 and 2018 was $7.4 million and $11.9 million , respectively. For the six months ended September 30, 2019 and 2018 , we received cash from the exercise of stock options of $0.5 million and $1.0 million , respectively. For the six months ended September 30, 2019 and 2018 , we realized $0.4 million and $1.2 million , respectively, in tax benefits from the tax deductions resulting from RSU issuances and stock option exercises. At September 30, 2019 , there were 1.4 million shares available for issuance under the Plan. On May 6, 2019, the Compensation and Talent Management Committee of our Board of Directors granted 98,644 performance stock units, 89,286 RSUs and stock options to acquire 281,487 shares of our common stock to certain executive officers and employees under the Plan. The stock options were granted at an exercise price of $30.56 per share, which was equal to the closing price for our common stock on the date of the grant. On May 13, 2019, the Compensation and Talent Management Committee of our Board of Directors granted 7,287 RSUs and stock options to acquire 21,194 shares of our common stock to a recently hired executive officer under the Plan. The stock options were granted at an exercise price of $30.19 per share, which was equal to the closing price for our common stock on the date of the grant. Each of the independent members of the Board of Directors received a grant under the Plan of 4,183 RSUs on July 30, 2019. Restricted Stock Units RSUs granted to employees under the Plan generally vest in three years, primarily upon the attainment of certain time vesting thresholds, and, in the case of performance share units, may also be contingent on the attainment of certain performance goals of the Company, including revenue and earnings before income taxes, depreciation and amortization targets. The RSUs provide for accelerated vesting if there is a change of control, as defined in the Plan. The RSUs granted to employees generally vest either ratably over three years or in their entirety on the three -year anniversary of the date of the grant. Upon vesting, the units will be settled in shares of our common stock. Termination of employment prior to vesting will result in forfeiture of the RSUs, unless otherwise accelerated by the Compensation and Talent Management Committee or, in the case of RSUs granted in May 2017, 2018 and 2019, subject to pro-rata vesting in the event of death, disability or retirement. The RSUs granted to directors prior to fiscal 2020 vest immediately upon grant, and will be settled by delivery to the director of one share of our common stock for each vested RSU promptly following the earliest of the (i) director's death, (ii) director's disability or (iii) six -month anniversary of the date on which the director's Board membership ceases for reasons other than death or disability. The RSUs granted to directors in July 2019 vest immediately upon grant, and will be settled by delivery to the director of one share of our common stock for each vested RSU promptly following the earliest of the (i) director's death, (ii) the director's separation from service or (iii) a change in control of the Company. The fair value of the RSUs is determined using the closing price of our common stock on the date of the grant. A summary of the RSUs granted under the Plan is presented below: RSUs Shares (in thousands) Weighted Average Grant-Date Fair Value Six Months Ended September 30, 2018 Vested and nonvested at March 31, 2018 393.5 $ 44.13 Granted 226.4 30.09 Vested and issued (175.8 ) 43.05 Forfeited (31.1 ) 48.32 Vested and nonvested at September 30, 2018 413.0 36.58 Vested at September 30, 2018 113.2 31.05 Six Months Ended September 30, 2019 Vested and nonvested at March 31, 2019 413.0 $ 36.58 Granted 220.3 31.02 Vested and issued (66.8 ) 47.99 Forfeited (27.8 ) 36.71 Vested and nonvested at September 30, 2019 538.7 32.88 Vested at September 30, 2019 138.3 31.71 Options The Plan provides that the exercise price of options granted shall be no less than the fair market value of our common stock on the date the options are granted. Options granted have a term of no greater than ten years from the date of grant and vest in accordance with a schedule determined at the time the option is granted, generally three to five years. The option awards provide for accelerated vesting in the event of a change in control, as defined in the Plan. Except in the case of death, disability or retirement, termination of employment prior to vesting will result in forfeiture of the nonvested stock options. Vested stock options will remain exercisable by the employee after termination of employment, subject to the terms in the Plan. The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model that uses the assumptions noted in the table below. Expected volatilities are based on the historical volatility of our common stock and other factors, including the historical volatilities of comparable companies. We use appropriate historical data, as well as current data, to estimate option exercise and employee termination behaviors. Employees that are expected to exhibit similar exercise or termination behaviors are grouped together for the purposes of valuation. The expected terms of the options granted are derived from our historical experience, management's estimates, and consideration of information derived from the public filings of companies similar to us, and represent the period of time that options granted are expected to be outstanding. The risk-free rate represents the yield on U.S. Treasury bonds with a maturity equal to the expected term of the granted options. The weighted average grant-date fair values of the options granted during the six months ended September 30, 2019 and 2018 were $10.83 and $10.22 , respectively. Six Months Ended September 30, 2019 2018 Expected volatility 30.9% - 31.3% 29.6 % Expected dividends $ — $ — Expected term in years 6.0 to 7.0 6.0 Risk-free rate 2.3% to 2.4% 2.9 % A summary of option activity under the Plan is as follows: Options Shares (in thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Six Months Ended September 30, 2018 Outstanding at March 31, 2018 873.2 $ 41.79 Granted 294.5 29.46 Exercised (37.2 ) 27.60 Forfeited or expired (125.4 ) 47.16 Outstanding at September 30, 2018 1,005.1 38.03 7.3 $ 6,271 Vested at September 30, 2018 555.2 37.08 6.4 $ 3,890 Six Months Ended September 30, 2019 Outstanding at March 31, 2019 944.6 $ 38.45 Granted 302.7 30.53 Exercised (18.4 ) 29.57 Forfeited or expired (124.7 ) 43.08 Outstanding at September 30, 2019 1,104.2 35.90 7.2 $ 3,959 Vested at September 30, 2019 610.2 38.56 5.7 $ 2,772 The aggregate intrinsic value of options exercised during the six months ended September 30, 2019 was less than $0.1 million .

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income taxes are recorded in our quarterly financial statements based on our estimated annual effective income tax rate, subject to adjustments for discrete events, should they occur. The effective rates used in the calculation of income taxes were 24.5% and 29.1% for the three months ended September 30, 2019 and 2018 , respectively. The effective rates used in the calculation of income taxes were 25.4% and 27.4% for the six months ended September 30, 2019 and 2018 , respectively. The decrease in the effective tax rate for the three and six months ended September 30, 2019 versus the prior year periods was primarily related to a discrete item arising from the sale of our Household Cleaning segment in July 2018. We have revised the Condensed Consolidated Statements of Cash Flows to correct an error in the disclosed amount of income taxes paid in the six months ended September 30, 2018. The correction increased income taxes paid from the previously reported amount of $2.4 million to $7.8 million

Employee Retirement Plans

Employee Retirement Plans	6 Months Ended
Employee Retirement Plans	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Employee Retirement Plans	Employee Retirement Plans The primary components of Net Periodic Benefits consist of the following: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2019 2018 2019 2018 Interest cost $ 577 $ 610 $ 1,154 $ 1,220 Expected return on assets (721 ) (768 ) (1,442 ) (1,536 ) Net periodic benefit income $ (144 ) $ (158 ) $ (288 ) $ (316 ) During the six months ended September 30, 2019 , we contributed $0.2 million to our non-qualified defined benefit plan and $1.0 million to the qualified defined benefit plan. During the remainder of fiscal 2020 , we expect to contribute an additional $0.2 million to our non-qualified plan and make no further contributions to the qualified plan.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are involved from time to time in legal matters and other claims incidental to our business. We review outstanding claims and proceedings internally and with external counsel as necessary to assess the probability and amount of a potential loss. These assessments are re-evaluated at each reporting period and as new information becomes available to determine whether a reserve should be established or if any existing reserve should be adjusted. The actual cost of resolving a claim or proceeding ultimately may be substantially different than the amount of the recorded reserve. In addition, because it is not permissible under GAAP to establish a litigation reserve until the loss is both probable and estimable, in some cases there may be insufficient time to establish a reserve prior to the actual incurrence of the loss (upon verdict and judgment at trial, for example, or in the case of a quickly negotiated settlement). We believe the resolution of routine legal matters and other claims incidental to our business, taking our reserves into account, will not have a material adverse effect on our business, financial condition, or results of operations.

Concentrations of Risk

Concentrations of Risk	6 Months Ended
Concentrations of Risk	Sep. 30, 2019
Risks and Uncertainties [Abstract]
Concentrations of Risk	Concentrations of Risk Our revenues are concentrated in the area of OTC Healthcare. We sell our products to mass merchandisers and drug, food, dollar, convenience and club stores and e-commerce channels. During the three and six months ended September 30, 2019 , approximately 42.6% and 43.3% , respectively, of our gross revenues were derived from our five top selling brands. During the three and six months ended September 30, 2018 , approximately 44.7% and 43.5% , respectively, of our gross revenues were derived from our five top selling brands. One customer, Walmart accounted for more than 10% of our gross revenues for each of the periods presented. Walmart accounted for approximately 22.9% and 23.5% , respectively, of our gross revenues for the three and six months ended September 30, 2019 . Walmart accounted for approximately 23.6% and 24.1% , respectively, of our gross revenues for the three and six months ended September 30, 2018 . The gross revenues for Walmart are included in our North American OTC Healthcare segment and Household Cleaning segment (prior to the sale of our Household Cleaning segment on July 2, 2018). Our product distribution in the United States is managed by a third party through one primary distribution center near St. Louis, Missouri. On May 13, 2019, we entered into an agreement with a second third party logistics provider for a warehouse, and we are in the process of transitioning to this facility, which is managed by a new logistics provider. In addition, we operate one manufacturing facility for certain of our products located in Lynchburg, Virginia. A serious disruption, caused by performance or contractual issues with a third party distribution manager or by natural disaster, such as earthquake, flood, or fire, could damage our inventory and/or materially impair our ability to distribute our products to customers in a timely manner or at a reasonable cost. Any disruption as a result of business integration, transition of our distribution center to the new third party manager or new location, or third party performance at our distribution centers could result in increased costs, expense and/or shipping times, and could cause us to incur customer fees and penalties. In addition, any serious disruption to our Lynchburg manufacturing facility could materially impair our ability to manufacture many of the products associated with our acquisition of C.B. Fleet Company, Inc. ("Fleet"), which would also limit our ability to provide those products to customers in a timely manner or at a reasonable cost. We could also incur significantly higher costs and experience longer lead times if we need to replace our distribution centers, the third party distribution managers or the manufacturing facility. As a result, any serious disruption could have a material adverse effect on our business, financial condition and results of operations. At September 30, 2019 , we had relationships with 113 third party manufacturers. Of those, we had long-term contracts with 30 manufacturers that produced items that accounted for approximately 66.4% of gross sales for the six months ended September 30, 2019 . At September 30, 2018 , we had relationships with 110 third party manufacturers. Of those, we had long-term contracts with 34 manufacturers that produced items that accounted for approximately 60.0% of gross sales for the six months ended September 30, 2018 . The fact that we do not have long-term contracts with certain manufacturers means that they could cease manufacturing our products at any time and for any reason or initiate arbitrary and costly price increases, which could have a material adverse effect on our business and results of operations. Although we are continually in the process of negotiating long-term contracts with certain key manufacturers, we may not be able to reach a timely agreement, which could have a material adverse effect on our business and results of operations.

Business Segments

Business Segments	6 Months Ended
Business Segments	Sep. 30, 2019
Segment Reporting [Abstract]
Business Segments	Business Segments Segment information has been prepared in accordance with the Segment Reporting topic of the FASB ASC 280. Our current reportable segments consist of (i) North American OTC Healthcare and (ii) International OTC Healthcare. We sold our Household Cleaning segment on July 2, 2018; see Note 2 for further information. We evaluate the performance of our operating segments and allocate resources to these segments based primarily on contribution margin, which we define as gross profit less advertising and promotional expenses. The tables below summarize information about our reportable segments. Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Consolidated Total segment revenues* $ 213,878 $ 24,191 $ — $ 238,069 Cost of sales 92,931 8,387 — 101,318 Gross profit 120,947 15,804 — 136,751 Advertising and promotion 34,595 4,072 — 38,667 Contribution margin $ 86,352 $ 11,732 $ — 98,084 Other operating expenses 28,736 Operating income 69,348 Other expense 25,336 Income before income taxes 44,012 Provision for income taxes 10,760 Net income $ 33,252 * Intersegment revenues of $0.8 million were eliminated from the North American OTC Healthcare segment. Six Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Cleaning Consolidated Total segment revenues* $ 424,662 $ 45,561 $ — $ 470,223 Cost of sales 181,742 17,663 — 199,405 Gross profit 242,920 27,898 — 270,818 Advertising and promotion 65,609 7,859 — 73,468 Contribution margin $ 177,311 $ 20,039 $ — 197,350 Other operating expenses 56,516 Operating income 140,834 Other expense 50,772 Income before income taxes 90,062 Provision for income taxes 22,885 Net income $ 67,177 * Intersegment revenues of $1.6 million were eliminated from the North American OTC Healthcare segment. Three Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Consolidated Total segment revenues* $ 215,950 $ 23,407 $ — $ 239,357 Cost of sales 92,007 9,878 — 101,885 Gross profit 123,943 13,529 — 137,472 Advertising and promotion 33,325 3,717 — 37,042 Contribution margin $ 90,618 $ 9,812 $ — 100,430 Other operating expenses 29,506 Operating income 70,924 Other expense 27,405 Income before income taxes 43,519 Provision for income taxes 12,678 Net income $ 30,841 * Intersegment revenues of $1.6 million were eliminated from the North American OTC Healthcare segment. Six Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Cleaning Consolidated Total segment revenues* $ 430,725 $ 42,801 $ 19,811 $ 493,337 Cost of sales 181,160 17,494 16,588 215,242 Gross profit 249,565 25,307 3,223 278,095 Advertising and promotion 66,583 7,140 430 74,153 Contribution margin $ 182,982 $ 18,167 $ 2,793 203,942 Other operating expenses 60,531 Operating income 143,411 Other expense 53,432 Income before income taxes 89,979 Provision for income taxes 24,672 Net income $ 65,307 * Intersegment revenues of $4.3 million were eliminated from the North American OTC Healthcare segment. The tables below summarize information about our segment revenues from similar product groups. Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 28,831 $ 243 $ — $ 29,074 Cough & Cold 20,506 5,814 — 26,320 Women's Health 59,678 2,905 — 62,583 Gastrointestinal 32,214 9,028 — 41,242 Eye & Ear Care 22,286 3,185 — 25,471 Dermatologicals 28,039 576 — 28,615 Oral Care 21,063 2,439 — 23,502 Other OTC 1,261 1 — 1,262 Household Cleaning — — — — Total segment revenues $ 213,878 $ 24,191 $ — $ 238,069 Six Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 57,366 $ 473 $ — $ 57,839 Cough & Cold 37,846 11,196 — 49,042 Women's Health 119,256 5,324 — 124,580 Gastrointestinal 63,786 16,013 — 79,799 Eye & Ear Care 49,039 6,196 — 55,235 Dermatologicals 53,777 1,266 — 55,043 Oral Care 41,042 5,091 — 46,133 Other OTC 2,550 2 — 2,552 Household Cleaning — — — — Total segment revenues $ 424,662 $ 45,561 $ — $ 470,223 Three Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 28,638 $ 125 $ — $ 28,763 Cough & Cold 20,492 5,734 — 26,226 Women's Health 61,614 3,270 — 64,884 Gastrointestinal 30,529 7,950 — 38,479 Eye & Ear Care 24,845 2,995 — 27,840 Dermatologicals 25,338 605 — 25,943 Oral Care 23,142 2,727 — 25,869 Other OTC 1,352 1 — 1,353 Household Cleaning — — — — Total segment revenues $ 215,950 $ 23,407 $ — $ 239,357 Six Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 56,896 $ 282 $ — $ 57,178 Cough & Cold 36,706 10,905 — 47,611 Women's Health 125,091 5,527 — 130,618 Gastrointestinal 63,328 13,940 — 77,268 Eye & Ear Care 50,317 5,614 — 55,931 Dermatologicals 50,460 1,137 — 51,597 Oral Care 45,339 5,394 — 50,733 Other OTC 2,588 2 — 2,590 Household Cleaning — — 19,811 19,811 Total segment revenues $ 430,725 $ 42,801 $ 19,811 $ 493,337 Our total segment revenues by geographic area are as follows: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 United States $ 199,714 $ 203,763 $ 400,343 $ 427,240 Rest of world 38,355 35,594 69,880 66,097 Total $ 238,069 $ 239,357 $ 470,223 $ 493,337 Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows: September 30, 2019 North American OTC International OTC Consolidated (In thousands) Goodwill $ 547,393 $ 30,151 $ 577,544 Intangible assets Indefinite-lived 2,195,616 73,805 2,269,421 Finite-lived, net 219,176 4,872 224,048 Intangible assets, net 2,414,792 78,677 2,493,469 Total $ 2,962,185 $ 108,828 $ 3,071,013 March 31, 2019 North American OTC International OTC Consolidated (In thousands) Goodwill $ 547,393 $ 31,190 $ 578,583 Intangible assets Indefinite-lived 2,195,617 77,574 2,273,191 Finite-lived, net 228,743 5,276 234,019 Intangible assets, net 2,424,360 82,850 2,507,210 Total $ 2,971,753 $ 114,040 $ 3,085,793

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	6 Months Ended
Business and Basis of Presentation (Policies)	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited Condensed Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, these Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, that are considered necessary for a fair statement of our consolidated financial position, results of operations and cash flows for the interim periods presented. Our fiscal year ends on March 31 st of each year. References in these Condensed Consolidated Financial Statements or related notes to a year (e.g., 2020 ) mean our fiscal year ending or ended on March 31 st of that year. Operating results for the six months ended September 30, 2019 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2020 . These unaudited Condensed Consolidated Financial Statements and related notes should be read in conjunction with our audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019 .
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on our knowledge of current events and actions that we may undertake in the future, actual results could differ from those estimates. Our most significant estimates include those made in connection with the valuation of intangible assets, stock-based compensation, fair value of debt, sales returns and allowances, trade promotional allowances, inventory obsolescence, and accounting for income taxes and related uncertain tax positions.
Recently Adopted and Issued Accounting Standards	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842). This update amended a number of aspects of lease accounting, including requiring lessees to recognize all leases with a term greater than one year as a right-of-use ("ROU") asset and corresponding lease liability, measured at the present value of the lease payments. On April 1, 2019, we adopted Topic 842 using the modified retrospective approach. Results for the three and six months ended September 30, 2019 are presented under Topic 842. No prior period amounts were adjusted and the prior period continues to be reported in accordance with previous lease guidance, Accounting Standards Codification ("ASC") Topic 840, Leases . The new standard provided a number of optional practical expedients in transition. We elected the package of transition provisions available for expired or existing contracts, which allowed us to carryforward our historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2019 are as follows: (In thousands) March 31, 2019 New Lease Standard Adjustment April 1, 2019 Assets: Operating lease ROU assets $ — $ 17,435 $ 17,435 Liabilities: Operating lease liabilities, current portion $ — $ (5,697 ) $ (5,697 ) Long-term operating lease liabilities, net of current portion $ — $ (13,296 ) $ (13,296 ) Other accrued liabilities (1) $ (60,663 ) $ 1,558 $ (59,105 ) (1) Relates to deferred rent and exit costs associated with existing leases. Adoption of this accounting pronouncement had no impact on our other financial statements. See Note 6 for our lease accounting policy. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by eliminating certain required disclosures and incorporating others. The amendments are effective for public companies for fiscal years ending after December 15, 2020. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements in Topic 820, with a particular focus on Level 3 investments, by eliminating certain required disclosures and incorporating others. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments . The amendments in this update provide financial statement users with more useful information about expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. These amendments clarify and improve areas of guidance related to recently issued standards on the topics of credit losses, hedging and recognition and measurements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief , which provides entities that have certain instruments an option to irrevocably elect the fair value option in Subtopic 825-10. The amendments in these updates are effective for us for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact of adopting this guidance on our Consolidated Financial Statements.

Business and Basis of Present_3

Business and Basis of Presentation (Tables)	6 Months Ended
Business and Basis of Presentation (Tables)	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Effects of Recently Adopted Accounting Pronouncement	The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2019 are as follows: (In thousands) March 31, 2019 New Lease Standard Adjustment April 1, 2019 Assets: Operating lease ROU assets $ — $ 17,435 $ 17,435 Liabilities: Operating lease liabilities, current portion $ — $ (5,697 ) $ (5,697 ) Long-term operating lease liabilities, net of current portion $ — $ (13,296 ) $ (13,296 ) Other accrued liabilities (1) $ (60,663 ) $ 1,558 $ (59,105 ) (1) Relates to deferred rent and exit costs associated with existing leases.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following: (In thousands) September 30, 2019 March 31, 2019 Components of Inventories Packaging and raw materials $ 11,341 $ 17,082 Work in process 322 161 Finished goods 114,699 102,637 Inventories $ 126,362 $ 119,880

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
Goodwill (Tables)	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Reconciliation of the Activity Affecting Goodwill	A reconciliation of the activity affecting goodwill by operating segment is as follows: (In thousands) North American OTC International OTC Consolidated Balance - March 31, 2019 Goodwill $ 711,104 $ 31,190 $ 742,294 Accumulated impairment loss (163,711 ) — (163,711 ) Balance - March 31, 2019 547,393 31,190 578,583 2020 Reductions: Effects of foreign currency exchange rates — (1,039 ) (1,039 ) Balance - September 30, 2019 Goodwill 711,104 30,151 741,255 Accumulated impairment loss (163,711 ) — (163,711 ) Balance - September 30, 2019 $ 547,393 $ 30,151 $ 577,544

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	6 Months Ended
Intangible Assets, net (Tables)	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Reconciliation of the Activity Affecting Finite Lived Intangible Assets	A reconciliation of the activity affecting intangible assets, net is as follows: (In thousands) Indefinite- Lived Trademarks Finite-Lived Totals Gross Carrying Amounts Balance — March 31, 2019 $ 2,273,191 $ 390,283 $ 2,663,474 Effects of foreign currency exchange rates (3,770 ) (211 ) (3,981 ) Balance — September 30, 2019 2,269,421 390,072 2,659,493 Accumulated Amortization Balance — March 31, 2019 — 156,264 156,264 Additions — 9,816 9,816 Effects of foreign currency exchange rates — (56 ) (56 ) Balance — September 30, 2019 — 166,024 166,024 Intangible assets, net - September 30, 2019 $ 2,269,421 $ 224,048 $ 2,493,469
Reconciliation of the Activity Affecting Indefinite Lived Intangible Assets	A reconciliation of the activity affecting intangible assets, net is as follows: (In thousands) Indefinite- Lived Trademarks Finite-Lived Totals Gross Carrying Amounts Balance — March 31, 2019 $ 2,273,191 $ 390,283 $ 2,663,474 Effects of foreign currency exchange rates (3,770 ) (211 ) (3,981 ) Balance — September 30, 2019 2,269,421 390,072 2,659,493 Accumulated Amortization Balance — March 31, 2019 — 156,264 156,264 Additions — 9,816 9,816 Effects of foreign currency exchange rates — (56 ) (56 ) Balance — September 30, 2019 — 166,024 166,024 Intangible assets, net - September 30, 2019 $ 2,269,421 $ 224,048 $ 2,493,469

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Sep. 30, 2019
Leases [Abstract]
Components of Lease Expense	The components of lease expense for the three and six months ended September 30, 2019 was as follows: (In thousands) Three Months Ended September 30, 2019 Six Months Ended September 30, 2019 Operating lease cost $ 2,242 $ 3,458 Short term lease cost 27 50 Variable lease cost 15,696 32,295 Sublease income (860 ) (1,774 ) Total net lease cost $ 17,105 $ 34,029
Maturities of Operating Leases	As of September 30, 2019 , the maturities of operating lease liabilities were as follows: (In thousands) Year Ending March 31, 2020 (Remaining six months ending March 31, 2020) $ 4,775 2021 7,053 2022 6,529 2023 6,304 2024 6,294 Thereafter 9,095 Total undiscounted lease payments 40,050 Less imputed interest (5,577 ) Total present value of lease payments $ 34,473
Future Minimum Rental Payments for Operating Leases Under Prior Guidance	The following table summarizes future minimum lease payments for our operating leases as of March 31, 2019, before adoption of Topic 842: (In thousands) Facilities Equipment Total Year Ending March 31, 2020 $ 2,828 $ 314 $ 3,142 2021 2,633 248 2,881 2022 2,265 213 2,478 2023 1,684 105 1,789 2024 1,705 — 1,705 Thereafter 6,780 — 6,780 $ 17,895 $ 880 $ 18,775

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	6 Months Ended
Other Accrued Liabilities (Tables)	Sep. 30, 2019
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other accrued liabilities consist of the following: (In thousands) September 30, 2019 March 31, 2019 Accrued marketing costs $ 33,895 $ 31,228 Accrued compensation costs 7,117 10,958 Accrued broker commissions 388 1,361 Income taxes payable 2,924 88 Accrued professional fees 4,280 2,441 Accrued production costs 8,805 6,788 Other accrued liabilities 8,070 7,799 $ 65,479 $ 60,663

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following, as of the dates indicated: (In thousands, except percentages) September 30, 2019 March 31, 2019 2016 Senior Notes bearing interest at 6.375%, with interest payable on March 1 and September 1 of each year. The 2016 Senior Notes mature on March 1, 2024. $ 600,000 $ 600,000 2013 Senior Notes bearing interest at 5.375%, with interest payable on June 15 and December 15 of each year. The 2013 Senior Notes mature on December 15, 2021. 400,000 400,000 2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.00%, or an alternate base rate plus a margin of 1.00%, with a floor of 1.00%, due on January 26, 2024. 738,000 738,000 2012 ABL Revolver bearing interest at the Borrower's option at either a base rate plus applicable margin or LIBOR plus applicable margin. Any unpaid balance is due on January 26, 2022. 29,000 75,000 Long-term debt 1,767,000 1,813,000 Less: unamortized debt costs (12,829 ) (14,402 ) Long-term debt, net $ 1,754,171 $ 1,798,598
Aggregate Future Principal Payments	As of September 30, 2019 , aggregate future principal payments required in accordance with the terms of the 2012 Term B-5 Loans, 2012 ABL Revolver and the indentures governing the 6.375% senior unsecured notes due 2024 (the "2016 Senior Notes") and the 5.375% senior unsecured notes due 2021 (the "2013 Senior Notes") are as follows: (In thousands) Year Ending March 31, Amount 2020 (remaining six months ending March 31, 2020) $ — 2021 — 2022 429,000 2023 — 2024 1,338,000 Thereafter — $ 1,767,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Summary of Carry Amounts and Fair Value Measurements	As such, the 2016 Senior Notes, the 2013 Senior Notes, the 2012 Term B-5 Loans, and the 2012 ABL Revolver are measured in Level 2 of the above hierarchy. See summary below detailing the carrying amounts and estimated fair values of these borrowings at September 30, 2019 and March 31, 2019 . September 30, 2019 March 31, 2019 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2016 Senior Notes $ 600,000 $ 624,000 $ 600,000 $ 606,000 2013 Senior Notes 400,000 402,000 400,000 401,500 2012 Term B-5 Loans 738,000 739,845 738,000 728,775 2012 ABL Revolver 29,000 29,000 75,000 75,000

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consisted of the following at September 30, 2019 and March 31, 2019 : (In thousands) September 30, 2019 March 31, 2019 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (30,686 ) $ (26,878 ) Unrecognized net gain on pension plans, net of tax of $0.3 million and $0.3 million, respectively 1,131 1,131 Accumulated other comprehensive loss, net of tax $ (29,555 ) $ (25,747 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended September 30, Six Months Ended September 30, (In thousands, except per share data) 2019 2018 2019 2018 Numerator Net income $ 33,252 $ 30,841 $ 67,177 $ 65,307 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,455 51,841 51,073 52,238 Dilutive effect of nonvested restricted stock units and options issued to employees and directors 356 312 353 307 Denominator for diluted earnings per share 50,811 52,153 51,426 52,545 Earnings per Common Share: Basic earnings per share $ 0.66 $ 0.59 $ 1.32 $ 1.25 Diluted earnings per share $ 0.65 $ 0.59 $ 1.31 $ 1.24

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
Share-Based Compensation (Tables)	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of Restricted Shares	A summary of the RSUs granted under the Plan is presented below: RSUs Shares (in thousands) Weighted Average Grant-Date Fair Value Six Months Ended September 30, 2018 Vested and nonvested at March 31, 2018 393.5 $ 44.13 Granted 226.4 30.09 Vested and issued (175.8 ) 43.05 Forfeited (31.1 ) 48.32 Vested and nonvested at September 30, 2018 413.0 36.58 Vested at September 30, 2018 113.2 31.05 Six Months Ended September 30, 2019 Vested and nonvested at March 31, 2019 413.0 $ 36.58 Granted 220.3 31.02 Vested and issued (66.8 ) 47.99 Forfeited (27.8 ) 36.71 Vested and nonvested at September 30, 2019 538.7 32.88 Vested at September 30, 2019 138.3 31.71
Fair Value of Options Granted	The weighted average grant-date fair values of the options granted during the six months ended September 30, 2019 and 2018 were $10.83 and $10.22 , respectively. Six Months Ended September 30, 2019 2018 Expected volatility 30.9% - 31.3% 29.6 % Expected dividends $ — $ — Expected term in years 6.0 to 7.0 6.0 Risk-free rate 2.3% to 2.4% 2.9 %
Stock Option Activity	A summary of option activity under the Plan is as follows: Options Shares (in thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Six Months Ended September 30, 2018 Outstanding at March 31, 2018 873.2 $ 41.79 Granted 294.5 29.46 Exercised (37.2 ) 27.60 Forfeited or expired (125.4 ) 47.16 Outstanding at September 30, 2018 1,005.1 38.03 7.3 $ 6,271 Vested at September 30, 2018 555.2 37.08 6.4 $ 3,890 Six Months Ended September 30, 2019 Outstanding at March 31, 2019 944.6 $ 38.45 Granted 302.7 30.53 Exercised (18.4 ) 29.57 Forfeited or expired (124.7 ) 43.08 Outstanding at September 30, 2019 1,104.2 35.90 7.2 $ 3,959 Vested at September 30, 2019 610.2 38.56 5.7 $ 2,772

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	6 Months Ended
Employee Retirement Plans (Tables)	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Primary Components of Net Periodic Benefits	The primary components of Net Periodic Benefits consist of the following: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2019 2018 2019 2018 Interest cost $ 577 $ 610 $ 1,154 $ 1,220 Expected return on assets (721 ) (768 ) (1,442 ) (1,536 ) Net periodic benefit income $ (144 ) $ (158 ) $ (288 ) $ (316 )

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
Business Segments (Tables)	Sep. 30, 2019
Segment Reporting [Abstract]
Information about our Operating and Reportable Segments	The tables below summarize information about our reportable segments. Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Consolidated Total segment revenues* $ 213,878 $ 24,191 $ — $ 238,069 Cost of sales 92,931 8,387 — 101,318 Gross profit 120,947 15,804 — 136,751 Advertising and promotion 34,595 4,072 — 38,667 Contribution margin $ 86,352 $ 11,732 $ — 98,084 Other operating expenses 28,736 Operating income 69,348 Other expense 25,336 Income before income taxes 44,012 Provision for income taxes 10,760 Net income $ 33,252 * Intersegment revenues of $0.8 million were eliminated from the North American OTC Healthcare segment. Six Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Cleaning Consolidated Total segment revenues* $ 424,662 $ 45,561 $ — $ 470,223 Cost of sales 181,742 17,663 — 199,405 Gross profit 242,920 27,898 — 270,818 Advertising and promotion 65,609 7,859 — 73,468 Contribution margin $ 177,311 $ 20,039 $ — 197,350 Other operating expenses 56,516 Operating income 140,834 Other expense 50,772 Income before income taxes 90,062 Provision for income taxes 22,885 Net income $ 67,177 * Intersegment revenues of $1.6 million were eliminated from the North American OTC Healthcare segment. Three Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Consolidated Total segment revenues* $ 215,950 $ 23,407 $ — $ 239,357 Cost of sales 92,007 9,878 — 101,885 Gross profit 123,943 13,529 — 137,472 Advertising and promotion 33,325 3,717 — 37,042 Contribution margin $ 90,618 $ 9,812 $ — 100,430 Other operating expenses 29,506 Operating income 70,924 Other expense 27,405 Income before income taxes 43,519 Provision for income taxes 12,678 Net income $ 30,841 * Intersegment revenues of $1.6 million were eliminated from the North American OTC Healthcare segment. Six Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Cleaning Consolidated Total segment revenues* $ 430,725 $ 42,801 $ 19,811 $ 493,337 Cost of sales 181,160 17,494 16,588 215,242 Gross profit 249,565 25,307 3,223 278,095 Advertising and promotion 66,583 7,140 430 74,153 Contribution margin $ 182,982 $ 18,167 $ 2,793 203,942 Other operating expenses 60,531 Operating income 143,411 Other expense 53,432 Income before income taxes 89,979 Provision for income taxes 24,672 Net income $ 65,307 * Intersegment revenues of $4.3 million were eliminated from the North American OTC Healthcare segment.
Information about our Revenues from Similar Product Groups	The tables below summarize information about our segment revenues from similar product groups. Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 28,831 $ 243 $ — $ 29,074 Cough & Cold 20,506 5,814 — 26,320 Women's Health 59,678 2,905 — 62,583 Gastrointestinal 32,214 9,028 — 41,242 Eye & Ear Care 22,286 3,185 — 25,471 Dermatologicals 28,039 576 — 28,615 Oral Care 21,063 2,439 — 23,502 Other OTC 1,261 1 — 1,262 Household Cleaning — — — — Total segment revenues $ 213,878 $ 24,191 $ — $ 238,069 Six Months Ended September 30, 2019 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 57,366 $ 473 $ — $ 57,839 Cough & Cold 37,846 11,196 — 49,042 Women's Health 119,256 5,324 — 124,580 Gastrointestinal 63,786 16,013 — 79,799 Eye & Ear Care 49,039 6,196 — 55,235 Dermatologicals 53,777 1,266 — 55,043 Oral Care 41,042 5,091 — 46,133 Other OTC 2,550 2 — 2,552 Household Cleaning — — — — Total segment revenues $ 424,662 $ 45,561 $ — $ 470,223 Three Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 28,638 $ 125 $ — $ 28,763 Cough & Cold 20,492 5,734 — 26,226 Women's Health 61,614 3,270 — 64,884 Gastrointestinal 30,529 7,950 — 38,479 Eye & Ear Care 24,845 2,995 — 27,840 Dermatologicals 25,338 605 — 25,943 Oral Care 23,142 2,727 — 25,869 Other OTC 1,352 1 — 1,353 Household Cleaning — — — — Total segment revenues $ 215,950 $ 23,407 $ — $ 239,357 Six Months Ended September 30, 2018 (In thousands) North American OTC International OTC Household Consolidated Analgesics $ 56,896 $ 282 $ — $ 57,178 Cough & Cold 36,706 10,905 — 47,611 Women's Health 125,091 5,527 — 130,618 Gastrointestinal 63,328 13,940 — 77,268 Eye & Ear Care 50,317 5,614 — 55,931 Dermatologicals 50,460 1,137 — 51,597 Oral Care 45,339 5,394 — 50,733 Other OTC 2,588 2 — 2,590 Household Cleaning — — 19,811 19,811 Total segment revenues $ 430,725 $ 42,801 $ 19,811 $ 493,337
Information about our Segment Revenues by Geographic Area	Our total segment revenues by geographic area are as follows: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 United States $ 199,714 $ 203,763 $ 400,343 $ 427,240 Rest of world 38,355 35,594 69,880 66,097 Total $ 238,069 $ 239,357 $ 470,223 $ 493,337
Information about our Consolidated Goodwill and Intangible Assets Allocated to Reportable Segments	Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows: September 30, 2019 North American OTC International OTC Consolidated (In thousands) Goodwill $ 547,393 $ 30,151 $ 577,544 Intangible assets Indefinite-lived 2,195,616 73,805 2,269,421 Finite-lived, net 219,176 4,872 224,048 Intangible assets, net 2,414,792 78,677 2,493,469 Total $ 2,962,185 $ 108,828 $ 3,071,013 March 31, 2019 North American OTC International OTC Consolidated (In thousands) Goodwill $ 547,393 $ 31,190 $ 578,583 Intangible assets Indefinite-lived 2,195,617 77,574 2,273,191 Finite-lived, net 228,743 5,276 234,019 Intangible assets, net 2,424,360 82,850 2,507,210 Total $ 2,971,753 $ 114,040 $ 3,085,793

Business and Basis of Present_4

Business and Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use asset	$ 33,145	$ 17,435	$ 0
Operating lease liabilities, current portion	(7,016)	(5,697)	0
Long-term operating lease liabilities, net of current portion	$ (27,457)	(13,296)	0
Other accrued liabilities		(59,105)	$ (60,663)
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use asset		17,435
Operating lease liabilities, current portion		(5,697)
Long-term operating lease liabilities, net of current portion		(13,296)
Other accrued liabilities		$ 1,558

Divestitures (Details)

Divestitures (Details) - Household Cleaning - Divestiture $ in Millions	Jul. 02, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposal	$ 65.9
Pre-tax gain on divestiture	$ 1.3

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Packaging and raw materials	$ 11,341	$ 17,082
Work in process	322	161
Finished goods	114,699	102,637
Inventories	126,362	119,880
Inventory valuation reserves related to obsolete and slow-moving inventory	$ 6,700	$ 5,500

Goodwill (Details)

Goodwill (Details) $ in Thousands	6 Months Ended
Goodwill (Details) $ in Thousands	Sep. 30, 2019USD ($)
Goodwill [Line Items]
Goodwill	$ 742,294
Accumulated impairment loss	(163,711)
Goodwill, net	578,583
Effects of foreign currency exchange rates	(1,039)
Goodwill	741,255
Accumulated impairment loss	(163,711)
Goodwill, net	577,544
North American OTC Healthcare
Goodwill [Line Items]
Goodwill	711,104
Accumulated impairment loss	(163,711)
Goodwill, net	547,393
Effects of foreign currency exchange rates	0
Goodwill	711,104
Accumulated impairment loss	(163,711)
Goodwill, net	547,393
International OTC Healthcare
Goodwill [Line Items]
Goodwill	31,190
Accumulated impairment loss	0
Goodwill, net	31,190
Effects of foreign currency exchange rates	(1,039)
Goodwill	30,151
Accumulated impairment loss	0
Goodwill, net	$ 30,151

Intangible Assets, net (Schedul

Intangible Assets, net (Schedule of Reconciliation of Activity Affecting Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Indefinite-Lived Intangible Assets [Abstract]
Indefinite-lived trademarks, beginning balance			$ 2,273,191
Indefinite-lived trademarks, ending balance	$ 2,269,421		2,269,421
Intangible Assets, Gross [Abstract]
Totals, gross, beginning balance			2,663,474
Totals, gross, effects of foreign currency exchange rate			(3,981)
Totals, gross, ending balance	2,659,493		2,659,493
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance			156,264
Accumulated amortization, additions	4,900	$ 5,400	9,816	$ 11,200
Accumulated amortization, effects of foreign exchange rates			(56)
Accumulated amortization, ending balance	166,024		166,024
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived, net	224,048		224,048		$ 234,019
Intangible Assets, Net [Abstract]
Intangible assets, net	2,493,469		2,493,469		$ 2,507,210
Finite-Lived Trademarks and Customer Relationships
Finite-Lived Intangible Assets, Gross [Abstract]
Finite-lived trademarks and customer relationships, beginning balance			390,283
Finite-lived trademarks and customer relationships, effects of foreign currency exchange rate			(211)
Finite-lived trademarks and customer relationships, ending balance	390,072		390,072
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance			156,264
Accumulated amortization, additions			9,816
Accumulated amortization, effects of foreign exchange rates			(56)
Accumulated amortization, ending balance	166,024		166,024
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived, net	224,048		224,048
Indefinite- Lived Trademarks
Indefinite-Lived Intangible Assets [Abstract]
Indefinite-lived trademarks, beginning balance			2,273,191
Indefinite lived trademarks, effects of foreign currency exchange rate			(3,770)
Indefinite-lived trademarks, ending balance	$ 2,269,421		$ 2,269,421

Intangible Assets, net (Narrati

Intangible Assets, net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4,900	$ 5,400	$ 9,816	$ 11,200
Remainder of the year	9,800		9,800
2021	19,600		19,600
2022	19,600		19,600
2023	19,600		19,600
2024	19,600		19,600
Thereafter	$ 135,800		$ 135,800

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	May 31, 2019	May 13, 2019	Apr. 01, 2019	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	5 years 7 months 9 days
Weighted average discount rate	5.27%
Operating lease right-of-use asset	$ 33,145			$ 17,435	$ 0
Operating lease liability	$ 34,473
GEODIS
Lessee, Lease, Description [Line Items]
Term of contract		5 years
Renewal term		5 years
Operating lease right-of-use asset			$ 18,900
Operating lease liability			$ 18,900
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	10 years
Renewal term	6 years

Leases (Operating Lease Cost) (

Leases (Operating Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 2,242	$ 3,458
Short term lease cost	27	50
Variable lease cost	15,696	32,295
Sublease income	(860)	(1,774)
Total net lease cost	$ 17,105	$ 34,029

Leases (Operating Lease Maturit

Leases (Operating Lease Maturities) (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
2020 (Remaining six months ending March 31, 2020)	$ 4,775
2021	7,053
2022	6,529
2023	6,304
2024	6,294
Thereafter	9,095
Total undiscounted lease payments	40,050
Less imputed interest	(5,577)
Total present value of lease payments	$ 34,473

Leases (Lease Maturities Under

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

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Payables and Accruals [Abstract]
Accrued marketing costs	$ 33,895	$ 31,228
Accrued compensation costs	7,117	10,958
Accrued broker commissions	388	1,361
Income taxes payable	2,924	88
Accrued professional fees	4,280	2,441
Accrued production costs	8,805	6,788
Other accrued liabilities	8,070	7,799
Total other accrued liabilities	$ 65,479	$ 60,663

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Sep. 30, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Line of credit facility, amount outstanding	$ 1,754,171,000	$ 1,798,598,000
2016 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (percent)	6.375%
2013 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (percent)	5.375%
Revolving Credit Facility \| 2012 ABL Revolver
Debt Instrument [Line Items]
Line of credit facility, amount outstanding	$ 29,000,000
Line of credit facility, additional borrowing capacity	$ 125,000,000

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 1,767,000	$ 1,813,000
Less: unamortized debt costs	(12,829)	(14,402)
Long-term debt, net	1,754,171	1,798,598
2012 ABL Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt (including current portion)	29,000	75,000
Long-term debt, net	$ 29,000
Senior Notes \| 2016 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (percent)	6.375%
Total long-term debt (including current portion)	$ 600,000	600,000
Senior Notes \| 2013 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (percent)	5.375%
Total long-term debt (including current portion)	$ 400,000	400,000
Term B-5 Loans \| 2012 Senior Notes
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 738,000	$ 738,000
Term B-5 Loans \| 2012 Senior Notes \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (percent)	2.00%
Debt instrument, variable rate, minimum (as percent)	0.00%
Term B-5 Loans \| 2012 Senior Notes \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (percent)	1.00%
Debt instrument, variable rate, minimum (as percent)	1.00%

Long-Term Debt (Maturities of L

Long-Term Debt (Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Aggregate Future Principal Payments
2020 (remaining six months ending March 31, 2020)	$ 0
2021	0
2022	429,000
2023	0
2024	1,338,000
Thereafter	0
Total long-term debt (including current portion)	$ 1,767,000	$ 1,813,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Senior Notes \| 2016 Senior Notes \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	$ 600,000	$ 600,000
Senior Notes \| 2013 Senior Notes \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	400,000	400,000
Term Loans \| 2012 Term B-5 Loans \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	738,000	738,000
Revolving Credit Facility \| 2012 ABL Revolver \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
2012 ABL Revolver	29,000	75,000
Fair Value, Measurements, Recurring \| Senior Notes \| 2016 Senior Notes \| Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	624,000	606,000
Fair Value, Measurements, Recurring \| Senior Notes \| 2013 Senior Notes \| Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	402,000	401,500
Fair Value, Measurements, Recurring \| Term Loans \| 2012 Term B-5 Loans \| Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	739,845	728,775
Fair Value, Measurements, Recurring \| Revolving Credit Facility \| 2012 ABL Revolver \| Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
2012 ABL Revolver	$ 29,000	$ 75,000

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended		6 Months Ended
Stockholders' Equity (Details)	Sep. 30, 2019USD ($)vote$ / sharesshares	Sep. 30, 2018shares	Sep. 30, 2019USD ($)vote$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares	Mar. 31, 2019$ / sharesshares
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares	250,000,000		250,000,000		250,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.01		$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares) \| shares	5,000,000		5,000,000		5,000,000
Preferred stock, par value (in USD per share) \| $ / shares	$ 0.01		$ 0.01		$ 0.01
Voting rights, number of votes per common share owned \| vote	1		1
Dividends declared on common stock \| $			$ 0
Stock repurchased during period (in shares) \| shares	672,719		1,622,544	1,449,750
Stock acquired, average cost per share (in USD per share) \| $ / shares	$ 31.53		$ 30.80	$ 34.47
Treasury stock acquired \| $	$ 21,291,000		$ 50,856,000	$ 52,259,000
Restricted Shares
Class of Stock [Line Items]
Stock repurchased during period (in shares) \| shares	2,273	0	28,537	68,939
Stock acquired, average cost per share (in USD per share) \| $ / shares	$ 35.32		$ 30.83	$ 33.09
Treasury stock acquired \| $	$ 21,200,000		$ 50,000,000	$ 50,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($)	6 Months Ended	12 Months Ended
Accumulated Other Comprehensive Loss (Details) - USD ($)	Sep. 30, 2019	Mar. 31, 2019	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ 1,112,790,000	$ 1,095,831,000	$ 1,101,623,000	$ 1,193,238,000	$ 1,161,723,000	$ 1,178,610,000
Reclassification from accumulated other comprehensive loss into earnings	0	0
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(30,686,000)	(26,878,000)
Unrecognized net gain on pension plans, net of tax of $0.3 million and $0.3 million, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	1,131,000	1,131,000
Accumulated other comprehensive income, accumulated tax expense (benefit)	(300,000)	(300,000)
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ (29,555,000)	$ (25,747,000)	$ (25,971,000)	$ (24,434,000)	$ (22,289,000)	$ (19,315,000)

Earnings Per Share (Computation

Earnings Per Share (Computation of Basis and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator
Net income	$ 33,252	$ 30,841	$ 67,177	$ 65,307
Denominator
Denominator for basic earnings per share — weighted average shares outstanding (in shares)	50,455	51,841	51,073	52,238
Dilutive effect of nonvested restricted stock units and options issued to employees and directors (in shares)	356	312	353	307
Denominator for diluted earnings per share (in shares)	50,811	52,153	51,426	52,545
Earnings per Common Share:
Basic earnings per share (in USD per share)	$ 0.66	$ 0.59	$ 1.32	$ 1.25
Diluted earnings per share (in USD per share)	$ 0.65	$ 0.59	$ 1.31	$ 1.24

Earnings Per Share (Antidilutiv

Earnings Per Share (Antidilutive Securities) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Outstanding Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.7	0.7	0.9	0.5

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ / shares in Units, $ in Thousands	Jul. 30, 2019shares	May 13, 2019$ / sharesshares	May 06, 2019$ / sharesshares	May 31, 2014shares	Jun. 30, 2014shares	Sep. 30, 2019USD ($)shares	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares
Share-based Compensation, Aggregate Disclosures:
Maximum number of shares per participant, 12 month period (in shares)				1,000,000	2,500,000
Extension of plan term					10 years
Share-based compensation costs charged against income \| $						$ 2,500	$ 2,700	$ 3,900	$ 4,300
Tax benefit recognized from share-based compensation expense \| $						400	$ 500	600	800
Unrecognized compensation costs related to nonvested awards \| $						$ 9,200		$ 9,200
Unrecognized compensation costs related to nonvested awards, weighted average period for recognition								1 year
Total fair value of vested shares \| $								$ 7,400	11,900
Proceeds from exercise of stock options \| $								544	1,028
Tax benefit realized from exercise of stock options \| $								$ 400	$ 1,200
Shares available for issuance under the Plan (in shares)						1,400,000		1,400,000
Stock options granted (in shares)								302,700	294,500
Options, Additional Disclosures:
Options granted, weighted-average grant-date fair value (in USD per share) \| $ / shares								$ 10.83	$ 10.22
Options exercised, aggregate intrinsic value \| $								$ 100
Performance Shares
Share-based Compensation, Aggregate Disclosures:
Share grants in period (in shares)			98,644
Restricted Stock Units (RSUs)
Share-based Compensation, Aggregate Disclosures:
Share grants in period (in shares)	4,183	7,287	89,286					220,300	226,400
Restricted Stock Units (RSUs) \| Employee
Restricted Shares
Award vesting period								3 years
Restricted Stock Units (RSUs) \| Employee \| Maximum
Restricted Shares
Award vesting period								3 years
Restricted Stock Units (RSUs) \| Director
Restricted Shares
Conversion ratio for common shares into which each RSU may be converted								1
Period following director's term in which RSUs may be settled								6 months
Stock Options
Share-based Compensation, Aggregate Disclosures:
Stock options granted (in shares)		21,194	281,487
Stock options granted, exercise price (in USD per share) \| $ / shares		$ 30.19	$ 30.56
Stock Options \| Minimum
Restricted Shares
Award vesting period								3 years
Stock Options \| Maximum
Restricted Shares
Award vesting period								5 years
Options, Additional Disclosures:
Award exercisability period, from date of grant								10 years
Long-term Equity Incentive Plan, 2005
Share-based Compensation, Aggregate Disclosures:
Number of shares authorized for grant under 2005 Long-Term Equity Incentive Plan (in shares)				5,000,000
Number of additional shares authorized (in shares)					1,800,000

Share-Based Compensation (Restr

Share-Based Compensation (Restricted Stock Units Activity) (Details) - Restricted Stock Units (RSUs) - $ / shares	Jul. 30, 2019	May 13, 2019	May 06, 2019	Sep. 30, 2019	Sep. 30, 2018
Shares
Outstanding, beginning of period (in shares)				413,000	393,500
Granted (in shares)	4,183	7,287	89,286	220,300	226,400
Vested and issued (in shares)				(66,800)	(175,800)
Forfeited (in shares)				(27,800)	(31,100)
Outstanding, end of period (in shares)				538,700	413,000
Vested, end of period (in shares)				138,300	113,200
Weighted Average Grant-Date Fair Value
Outstanding, beginning of period, weighted-average grant-date fair value (in USD per share)				$ 36.58	$ 44.13
Granted, weighted-average grant-date fair value (in USD per share)				31.02	30.09
Vested and issued, weighted-average grant-date fair value (in USD per share)				47.99	43.05
Forfeited, weighted-average grant-date fair value (in USD per share)				36.71	48.32
Outstanding, end of period, weighted-average grant-date fair value (in USD per share)				32.88	36.58
Vested, end of period, weighted-average grant-date fair value (in USD per share)				$ 31.71	$ 31.05
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Director
Weighted Average Grant-Date Fair Value
Period following director's term in which RSUs may be settled				6 months
Maximum \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years

Share-Based Compensation (Stock

Share-Based Compensation (Stock Option Valuation Assumptions) (Details) - Stock Options - USD ($)	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		29.60%
Expected dividends	$ 0	$ 0
Expected term in years		6 years
Risk-free rate		2.90%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award exercisability period, from date of grant	10 years
Expected volatility	31.30%
Expected term in years	7 years
Risk-free rate	2.40%
Award vesting period	5 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30.90%
Expected term in years	6 years
Risk-free rate	2.30%
Award vesting period	3 years

Share-Based Compensation (Sto_2

Share-Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Shares
Outstanding, beginning of period (in shares)	944,600	873,200
Granted (in shares)	302,700	294,500
Exercised (in shares)	(18,400)	(37,200)
Forfeited or expired (in shares)	(124,700)	(125,400)
Outstanding, end of period (in shares)	1,104,200	1,005,100
Exercisable, end of period (in shares)	610,200	555,200
Weighted Average Exercise Price
Outstanding, beginning of period, weighted-average exercise price (in USD per share)	$ 38.45	$ 41.79
Granted, weighted-average exercise price (in USD per share)	30.53	29.46
Exercised, weighted-average exercise price (in USD per share)	29.57	27.60
Forfeited or expired, weighted-average exercise price (in USD per share)	43.08	47.16
Outstanding, end of period, weighted-average exercise price (in USD per share)	35.90	38.03
Exercisable, end of period, weighted-average exercise price (in USD per share)	$ 38.56	$ 37.08
Options, Additional Disclosures:
Outstanding, end of period, weighted-average remaining contractual term	7 years 2 months 12 days	7 years 3 months 18 days
Exercisable, end of period, weighted-average remaining contractual term	5 years 8 months 12 days	6 years 4 months 24 days
Outstanding, end of period, aggregate intrinsic value	$ 3,959	$ 6,271
Exercisable, end of period, aggregate intrinsic value	$ 2,772	$ 3,890

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Effective income tax rate (percent)	24.50%	29.10%	25.40%	27.40%
Income taxes paid			$ 14,655	$ 7,778
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income taxes paid				$ 2,400

Employee Retirement Plans (Expe

Employee Retirement Plans (Expected Return on Plan Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement [Abstract]
Interest cost	$ 577	$ 610	$ 1,154	$ 1,220
Expected return on assets	(721)	(768)	(1,442)	(1,536)
Net periodic benefit income	$ (144)	$ (158)	$ (288)	$ (316)

Employee Retirement Plans (Narr

Employee Retirement Plans (Narrative) (Details)	6 Months Ended
Employee Retirement Plans (Narrative) (Details)	Sep. 30, 2019USD ($)
Non-qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	$ 200,000
Expected employer contributions, remainder of fiscal year	200,000
Qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	1,000,000
Expected employer contributions, remainder of fiscal year	$ 0

Concentrations of Risk (Details

Concentrations of Risk (Details) - manufacturer	3 Months Ended		6 Months Ended
Concentrations of Risk (Details) - manufacturer	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Concentration Risk [Line Items]
Number of third-party manufacturers	113	110	113	110
Sales \| Customer Concentration Risk \| Walmart
Concentration Risk [Line Items]
Concentration risk, percentage (percent)	22.90%	23.60%	23.50%	24.10%
Sales \| Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage (percent)			66.40%	60.00%
Number of third-party manufacturers with long-term contracts			30	34
Top 5 brands \| Sales \| Product Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage (percent)	42.60%	44.70%	43.30%	43.50%

Business Segments (Information

Business Segments (Information on Operating and Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information, Profit (Loss):
Total revenues	$ 238,069	$ 239,357	$ 470,223	$ 493,337
Cost of sales	101,318	101,885	199,405	215,242
Gross profit	136,751	137,472	270,818	278,095
Advertising and promotion	38,667	37,042	73,468	74,153
Contribution margin	98,084	100,430	197,350	203,942
Other operating expenses	28,736	29,506		60,531
Operating income	69,348	70,924	140,834	143,411
Other expense	25,336	27,405	50,772	53,432
Income before income taxes	44,012	43,519	90,062	89,979
Provision for income taxes	10,760	12,678	22,885	24,672
Net income	33,252	30,841	67,177	65,307
North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	213,878	215,950	424,662	430,725
International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	24,191	23,407	45,561	42,801
Household Cleaning
Segment Reporting Information, Profit (Loss):
Total revenues	0	0	0	19,811
Operating Segments \| North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	213,878	215,950	424,662	430,725
Cost of sales	92,931	92,007	181,742	181,160
Gross profit	120,947	123,943	242,920	249,565
Advertising and promotion	34,595	33,325	65,609	66,583
Contribution margin	86,352	90,618	177,311	182,982
Operating Segments \| International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	24,191	23,407	45,561	42,801
Cost of sales	8,387	9,878	17,663	17,494
Gross profit	15,804	13,529	27,898	25,307
Advertising and promotion	4,072	3,717	7,859	7,140
Contribution margin	11,732	9,812	20,039	18,167
Operating Segments \| Household Cleaning
Segment Reporting Information, Profit (Loss):
Total revenues	0	0	0	19,811
Cost of sales	0	0	0	16,588
Gross profit	0	0	0	3,223
Advertising and promotion	0	0	0	430
Contribution margin	0	0	0	2,793
Intersegment Eliminations \| North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	$ 800	$ 1,600	$ 1,600	$ 4,300

Business Segments (Revenue) (De

Business Segments (Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 238,069	$ 239,357	$ 470,223	$ 493,337
Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	29,074	28,763	57,839	57,178
Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	26,320	26,226	49,042	47,611
Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	62,583	64,884	124,580	130,618
Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	41,242	38,479	79,799	77,268
Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	25,471	27,840	55,235	55,931
Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	28,615	25,943	55,043	51,597
Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	23,502	25,869	46,133	50,733
Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,262	1,353	2,552	2,590
Household Cleaning
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	19,811
North American OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	213,878	215,950	424,662	430,725
North American OTC Healthcare \| Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	28,831	28,638	57,366	56,896
North American OTC Healthcare \| Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	20,506	20,492	37,846	36,706
North American OTC Healthcare \| Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	59,678	61,614	119,256	125,091
North American OTC Healthcare \| Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	32,214	30,529	63,786	63,328
North American OTC Healthcare \| Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	22,286	24,845	49,039	50,317
North American OTC Healthcare \| Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	28,039	25,338	53,777	50,460
North American OTC Healthcare \| Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	21,063	23,142	41,042	45,339
North American OTC Healthcare \| Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,261	1,352	2,550	2,588
International OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	24,191	23,407	45,561	42,801
International OTC Healthcare \| Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	243	125	473	282
International OTC Healthcare \| Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	5,814	5,734	11,196	10,905
International OTC Healthcare \| Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	2,905	3,270	5,324	5,527
International OTC Healthcare \| Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	9,028	7,950	16,013	13,940
International OTC Healthcare \| Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,185	2,995	6,196	5,614
International OTC Healthcare \| Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	576	605	1,266	1,137
International OTC Healthcare \| Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	2,439	2,727	5,091	5,394
International OTC Healthcare \| Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1	1	2	2
Household Cleaning
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	19,811
Household Cleaning \| Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	0	0	0	0
Household Cleaning \| Household Cleaning
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 0	$ 0	$ 0	$ 19,811

Business Segments (Revenue by G

Business Segments (Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 238,069	$ 239,357	$ 470,223	$ 493,337
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	199,714	203,763	400,343	427,240
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 38,355	$ 35,594	$ 69,880	$ 66,097

Business Segments (Goodwill and

Business Segments (Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 577,544	$ 578,583
Intangible assets
Indefinite-lived	2,269,421	2,273,191
Finite-lived, net	224,048	234,019
Intangible assets, net	2,493,469	2,507,210
Total	3,071,013	3,085,793
North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	547,393	547,393
Intangible assets
Indefinite-lived	2,195,616	2,195,617
Finite-lived, net	219,176	228,743
Intangible assets, net	2,414,792	2,424,360
Total	2,962,185	2,971,753
International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	30,151	31,190
Intangible assets
Indefinite-lived	73,805	77,574
Finite-lived, net	4,872	5,276
Intangible assets, net	78,677	82,850
Total	$ 108,828	$ 114,040

Uncategorized Items - pbh10qsep

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