Prestige Consumer Healthcare (PBH) 10-Q 5 Nov 20 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
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	2021
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		50,103,802

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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Total revenues	$ 237,422	$ 238,069	$ 466,816	$ 470,223
Cost of Sales
Cost of sales excluding depreciation	98,239	100,318	192,363	197,418
Cost of sales depreciation	1,522	1,000	2,924	1,987
Cost of sales	99,761	101,318	195,287	199,405
Gross profit	137,661	136,751	271,529	270,818
Operating Expenses
Advertising and marketing	38,341	38,667	66,091	73,468
General and administrative	20,388	22,514	40,322	44,220
Depreciation and amortization	6,029	6,222	12,094	12,296
Total operating expenses	64,758	67,403	118,507	129,984
Operating income	72,903	69,348	153,022	140,834
Other (income) expense
Interest expense, net	21,266	24,477	43,207	49,497
Other (income) expense, net	(259)	859	(249)	1,275
Total other expense	21,007	25,336	42,958	50,772
Income before income taxes	51,896	44,012	110,064	90,062
Provision for income taxes	7,307	10,760	21,769	22,885
Net income	$ 44,589	$ 33,252	$ 88,295	$ 67,177
Earnings per share:
Basic (in USD per share)	$ 0.89	$ 0.66	$ 1.76	$ 1.32
Diluted (in USD per share)	$ 0.88	$ 0.65	$ 1.74	$ 1.31
Weighted average shares outstanding:
Basic (in shares)	50,330	50,455	50,297	51,073
Diluted (in shares)	50,661	50,811	50,672	51,426
Comprehensive income, net of tax:
Currency translation adjustments	$ 3,665	$ (3,584)	$ 14,255	$ (3,808)
Unrealized gain on interest rate swaps	985	0	1,294	0
Total other comprehensive income (loss)	4,650	(3,584)	15,549	(3,808)
Comprehensive income	49,239	29,668	103,844	63,369
Net sales
Revenues
Total revenues	237,409	238,051	466,793	470,184
Other revenues
Revenues
Total revenues	$ 13	$ 18	$ 23	$ 39

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 26,603	$ 94,760
Accounts receivable, net of allowance of $18,450 and $20,194, respectively	122,207	150,517
Inventories	114,026	116,026
Prepaid expenses and other current assets	7,017	4,351
Total current assets	269,853	365,654
Property, plant and equipment, net	65,161	55,988
Operating lease right-of-use assets	26,211	28,888
Finance lease right-of-use assets, net	10,897	5,842
Goodwill	577,919	575,179
Intangible assets, net	2,481,236	2,479,391
Other long-term assets	3,029	2,963
Total Assets	3,434,306	3,513,905
Current liabilities
Accounts payable	55,423	62,375
Accrued interest payable	7,515	9,911
Operating lease liabilities, current portion	5,411	5,612
Finance lease liabilities, current portion	2,648	1,220
Other accrued liabilities	65,123	70,763
Total current liabilities	136,120	149,881
Long-term debt, net	1,548,100	1,730,300
Deferred income tax liabilities	416,383	407,812
Long-term operating lease liabilities, net of current portion	22,450	24,877
Long-term finance lease liabilities, net of current portion	8,428	4,626
Other long-term liabilities	24,608	25,438
Total Liabilities	2,156,089	2,342,934
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	539	538
Additional paid-in capital	493,756	488,116
Treasury stock, at cost - 3,779 shares at September 30, 2020 and 3,719 shares at March 31, 2020	(119,862)	(117,623)
Accumulated other comprehensive loss, net of tax	(28,612)	(44,161)
Retained earnings	932,396	844,101
Total Stockholders' Equity	1,278,217	1,170,971
Total Liabilities and Stockholders' Equity	$ 3,434,306	$ 3,513,905

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 18,450	$ 20,194
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)	53,941,000	53,805,000
Treasury stock (in shares)	3,779,000	3,719,000

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 Income (Loss)	Retained Earnings
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
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)				1,652,000
Treasury share repurchases	(50,856)			$ (50,856)
Net income	67,177					67,177
Comprehensive income (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
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
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)				675,000
Treasury share repurchases	(21,291)			$ (21,291)
Net income	33,252					33,252
Comprehensive income (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
Common stock, beginning balance (in shares) at Mar. 31, 2020		53,805,000
Equity, beginning balance at Mar. 31, 2020	$ 1,170,971	$ 538	488,116	$ (117,623)	(44,161)	844,101
Treasury stock, beginning balance (in shares) at Mar. 31, 2020	3,719,000			3,719,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 4,356		4,356
Exercise of stock options (in shares)	62,800	62,000
Exercise of stock options	$ 1,285		1,285
Issuance of shares related to restricted stock (in shares)		74,000
Issuance of shares related to restricted stock	0	$ 1	(1)
Treasury share repurchases (in shares)				60,000
Treasury share repurchases	(2,239)			$ (2,239)
Net income	88,295					88,295
Comprehensive income (loss)	15,549				15,549
Common stock, ending balance (in shares) at Sep. 30, 2020		53,941,000
Equity, ending balance at Sep. 30, 2020	$ 1,278,217	$ 539	493,756	$ (119,862)	(28,612)	932,396
Treasury stock, ending balance (in shares) at Sep. 30, 2020	3,779,000			3,779,000
Common stock, beginning balance (in shares) at Jun. 30, 2020		53,939,000
Equity, beginning balance at Jun. 30, 2020	$ 1,227,014	$ 539	490,795	$ (118,865)	(33,262)	887,807
Treasury stock, beginning balance (in shares) at Jun. 30, 2020				3,750,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,892		2,892
Exercise of stock options (in shares)		2,000
Exercise of stock options	69		69
Treasury share repurchases (in shares)				29,000
Treasury share repurchases	(997)			$ (997)
Net income	44,589					44,589
Comprehensive income (loss)	4,650				4,650
Common stock, ending balance (in shares) at Sep. 30, 2020		53,941,000
Equity, ending balance at Sep. 30, 2020	$ 1,278,217	$ 539	$ 493,756	$ (119,862)	$ (28,612)	$ 932,396
Treasury stock, ending balance (in shares) at Sep. 30, 2020	3,779,000			3,779,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net income	$ 88,295	$ 67,177
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,018	14,283
Loss on disposal of property and equipment	131	19
Deferred income taxes	3,656	5,827
Amortization of debt origination costs	2,918	1,711
Stock-based compensation costs	4,356	3,902
Non-cash operating lease cost	3,587	3,154
Interest expense relating to finance lease liability	109	0
Changes in operating assets and liabilities:
Accounts receivable	29,358	5,982
Inventories	3,213	(6,400)
Prepaid expenses and other current assets	(2,476)	(3,128)
Accounts payable	(9,183)	8,465
Accrued liabilities	(8,125)	6,616
Operating lease liabilities	(3,446)	(3,398)
Other	(118)	(1,210)
Net cash provided by operating activities	127,293	103,000
Investing Activities
Purchases of property, plant and equipment	(11,619)	(5,822)
Net cash used in investing activities	(11,619)	(5,822)
Financing Activities
Term loan repayments	(130,000)	0
Borrowings under revolving credit agreement	0	30,000
Repayments under revolving credit agreement	(55,000)	(76,000)
Payments of finance leases	(712)	0
Proceeds from exercise of stock options	1,285	544
Fair value of shares surrendered as payment of tax withholding	(1,242)	(880)
Repurchase of common stock	(997)	(49,976)
Net cash used in financing activities	(186,666)	(96,312)
Effects of exchange rate changes on cash and cash equivalents	2,835	(491)
(Decrease) increase in cash and cash equivalents	(68,157)	375
Cash and cash equivalents - beginning of period	94,760	27,530
Cash and cash equivalents - end of period	26,603	27,905
Interest paid	42,423	48,033
Income taxes paid	$ 18,818	$ 14,655

Business and Basis of Presentat

Business and Basis of Presentation	6 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Nature of Business Prestige Consumer Healthcare Inc. (referred to herein as the “Company” or “we,” which reference shall, unless the context requires otherwise, be deemed to refer to Prestige Consumer Healthcare Inc. and all of its direct and indirect 100% owned subsidiaries on a consolidated basis) is engaged in the development, manufacturing, marketing, sales and distribution of over-the-counter (“OTC”) healthcare products to mass merchandisers, drug, food, dollar, convenience and club stores and e-commerce channels in North America (the United States and Canada), and in Australia and certain other international markets. Prestige Consumer Healthcare Inc. is a holding company with no operations and is also the parent guarantor of the senior credit facility and the senior notes described in Note 7 to these Condensed Consolidated Financial Statements. Coronavirus Outbreak In January 2020, the World Health Organization ("WHO") announced a global health crisis due to a new strain of coronavirus ("COVID-19"). In March 2020, the WHO classified the COVID-19 outbreak as a pandemic. This pandemic is affecting the United States and global economies, including causing significant volatility in the global economy and resulting in materially reduced economic activity. The COVID-19 pandemic and the corresponding government responses have led to increased unemployment and economic uncertainty, which could lead to a further reduction in consumer spending. Economic conditions are, and we expect that they will continue to be, highly volatile and uncertain. Recessionary conditions could reduce demand for our products and put downward pressure on prices. If the outbreak continues to spread or if we continue to experience a period of recession or enter a depression, it may materially affect our operations and those of third parties on which we rely, including causing disruptions in the supply and distribution of our products. We may need to limit operations and may experience material limitations in employee resources. We did see an increase in sales at the end of March 2020 related to shelter-at-home restrictions as we believe consumers stocked up as a result of COVID-19, followed by a temporary but significant decline in consumption in the first quarter and have since seen more stable consumer consumption and customer orders in recent weeks. Sales varied throughout the year with some categories positively impacted (for instance, Women’s Health, Oral Care and Dermatological) and some categories negatively impacted (for instance, Cough & Cold, and Gastrointestinal). The positively impacted categories benefited from the consumer shift to over-the-counter healthcare products as they looked to avoid doctor visits and increased focus on hygiene and self-care at home related to COVID-19. The declining categories were impacted by reduced incidence levels and usage rates due to shelter-at-home restrictions and limited travel related to COVID-19. Early in our first quarter of fiscal 2021, it had been reported to us that there had been an increase in absenteeism at our distribution center and with some of our suppliers; however, we have not experienced a material disruption to our overall supply chain to date. We also continue to see changes in the purchasing patterns of our consumers, including the frequency of visits by consumers to retailers and a shift in many markets to purchasing our products online. To date the pandemic has not had a material negative impact on our operations, overall demand for most of our products or resulting aggregate sales and earnings, and, as such, it has also not negatively impacted our liquidity position. We continue to generate operating cash flows to meet our short-term liquidity needs. These circumstances could change in this dynamic, unprecedented environment. The extent to which COVID-19 impacts our results and liquidity will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19, and the actions to contain COVID-19 or treat its impact, among others. We do not yet know the full extent of its impacts on our business or the global economy. However, these effects could have a material, adverse impact on our liquidity, capital resources, operations and business and those of the third parties on which we rely. Basis of Presentation The unaudited Condensed Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, these Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, that are considered necessary for a fair statement of our consolidated financial position, results of operations and cash flows for the interim periods presented. Our fiscal year ends on March 31 st of each year. References in these Condensed Consolidated Financial Statements or related notes to a year (e.g., 2021) mean our fiscal year ending or ended on March 31 st of that year. Operating results for the six months ended September 30, 2020 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2021. 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, 2020. 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 August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 adopted this standard effective April 1, 2020, and the adoption did not 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 (with subsequent targeted amendments). 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. The guidance requires entities to utilize an expected credit loss model for certain financial instruments, including most trade receivables, which replaces the incurred credit loss model previously used. Under this new model, we are required to recognize estimated credit losses expected to occur over time using a broad range of information including historical information, current conditions and reasonable and supportable forecasts. The amendments in these updates were effective for us in the first quarter of our fiscal year 2021. We adopted this standard effective April 1, 2020, and the adoption did not have a material impact on our Consolidated Financial Statements. 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 December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . The amendments in this update eliminate the need for an organization to analyze whether certain exceptions apply for tax purposes. It also simplifies GAAP for certain taxes. The amendments in these updates are effective for us for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Inventories

Inventories	6 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: (In thousands) September 30, 2020 March 31, 2020 Components of Inventories Packaging and raw materials $ 9,107 $ 9,803 Work in process 297 355 Finished goods 104,622 105,868 Inventories $ 114,026 $ 116,026

Goodwill

Goodwill	6 Months Ended
	Sep. 30, 2020
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, 2020 Goodwill $ 710,354 $ 28,536 $ 738,890 Accumulated impairment loss (163,711) — (163,711) Balance - March 31, 2020 546,643 28,536 575,179 Effects of foreign currency exchange rates — 2,740 2,740 Balance - September 30, 2020 Goodwill 710,354 31,276 741,630 Accumulated impairment loss (163,711) — (163,711) Balance - September 30, 2020 $ 546,643 $ 31,276 $ 577,919 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. On February 29, 2020, the date of our annual impairment review, there were no indicators of impairment as a result of the analysis and, accordingly, no impairment charge was taken on our March 31, 2020 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 29, 2020 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 marketing may require an impairment charge to be recorded in the future. We continuously monitor events which could trigger an interim impairment analysis, which included the impact of COVID-19 for the period ended September 30, 2020. As of September 30, 2020, we determined no events have occurred that would indicate potential impairment of goodwill. However, the continued duration and severity of COVID-19 may result in future impairment charges as the prolonged pandemic could have an impact on our results due to changes in consumer habits. This could result in changes to the assumptions utilized in the annual impairment analysis to determine the estimated fair value of our goodwill, including long-term growth rates and discount rates.

Intangible Assets, net

Intangible Assets, net	6 Months Ended
	Sep. 30, 2020
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- Finite-Lived Totals Gross Carrying Amounts Balance — March 31, 2020 $ 2,265,331 $ 389,801 $ 2,655,132 Effects of foreign currency exchange rates 11,352 489 11,841 Balance — September 30, 2020 2,276,683 390,290 2,666,973 Accumulated Amortization Balance — March 31, 2020 — 175,741 175,741 Additions — 9,817 9,817 Effects of foreign currency exchange rates — 179 179 Balance — September 30, 2020 — 185,737 185,737 Intangible assets, net - September 30, 2020 $ 2,276,683 $ 204,553 $ 2,481,236 Amortization expense was $4.9 million and $9.8 million for the three and six months ended September 30, 2020, respectively, and $4.9 million and $9.8 million for the three and six months ended September 30, 2019, respectively. Finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 10 to 30 years, and the estimated amortization expense for each of the five succeeding years and the periods thereafter is as follows (in thousands): (In thousands) Year Ending March 31, Amount 2021 (remaining six months ended March 31, 2021) 9,823 2022 19,645 2023 19,645 2024 19,615 2025 17,570 Thereafter 118,255 $ 204,553 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. On February 29, 2020, the date of our annual impairment review, there were no indicators of impairment as a result of the analysis and, accordingly, no impairment charge was taken on our March 31, 2020 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 marketing expenses, we may be required to record impairment charges in the future. We continuously monitor events which could trigger an interim impairment analysis, which included the impact of COVID-19 for the period ended September 30, 2020. As of September 30, 2020, we determined no events have occurred that would indicate potential impairment of intangible assets. However, the continued duration and severity of COVID-19 may result in future impairment charges as the prolonged pandemic could have an impact on our results due to changes in consumer habits. This could result in changes to the assumptions utilized in the annual impairment analysis to determine the estimated fair value of our intangible assets, including long-term growth rates and discount rates.

Leases

Leases	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three and six months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 443 — $ 768 $ — Interest on lease liabilities 59 — 109 — Operating lease cost 1,692 2,242 3,389 3,458 Short term lease cost 22 27 45 50 Variable lease cost 12,303 15,696 24,010 32,295 Sublease income (55) (860) (109) (1,774) Total net lease cost $ 14,464 17,105 $ 28,212 $ 34,029 As of September 30, 2020, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining six months ending March 31, 2021) $ 3,613 $ 1,466 $ 5,079 2022 6,521 2,932 9,453 2023 6,291 2,932 9,223 2024 6,303 2,932 9,235 2025 4,132 1,467 5,599 Thereafter 4,974 — 4,974 Total undiscounted lease payments 31,834 11,729 43,563 Less amount of lease payments representing interest (3,973) (653) (4,626) Total present value of lease payments $ 27,861 $ 11,076 $ 38,937 The weighted average remaining lease term and weighted average discount rate were as follows: September 30, 2020 Weighted average remaining lease term (years) Operating leases 5.08 Finance leases 4.00 Weighted average discount rate Operating leases 5.28 % Finance leases 2.96 %
Leases	Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three and six months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 443 — $ 768 $ — Interest on lease liabilities 59 — 109 — Operating lease cost 1,692 2,242 3,389 3,458 Short term lease cost 22 27 45 50 Variable lease cost 12,303 15,696 24,010 32,295 Sublease income (55) (860) (109) (1,774) Total net lease cost $ 14,464 17,105 $ 28,212 $ 34,029 As of September 30, 2020, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining six months ending March 31, 2021) $ 3,613 $ 1,466 $ 5,079 2022 6,521 2,932 9,453 2023 6,291 2,932 9,223 2024 6,303 2,932 9,235 2025 4,132 1,467 5,599 Thereafter 4,974 — 4,974 Total undiscounted lease payments 31,834 11,729 43,563 Less amount of lease payments representing interest (3,973) (653) (4,626) Total present value of lease payments $ 27,861 $ 11,076 $ 38,937 The weighted average remaining lease term and weighted average discount rate were as follows: September 30, 2020 Weighted average remaining lease term (years) Operating leases 5.08 Finance leases 4.00 Weighted average discount rate Operating leases 5.28 % Finance leases 2.96 %

Other Accrued Liabilities

Other Accrued Liabilities	6 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consist of the following: (In thousands) September 30, 2020 March 31, 2020 Accrued marketing costs $ 37,420 $ 34,450 Accrued compensation costs 8,025 13,393 Accrued broker commissions 986 1,491 Income taxes payable 2,902 3,210 Accrued professional fees 3,700 4,183 Accrued production costs 3,187 5,628 Accrued sales tax 930 1,917 Other accrued liabilities 7,973 6,491 $ 65,123 $ 70,763

Long-Term Debt

Long-Term Debt	6 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following, as of the dates indicated: (In thousands, except percentages) September 30, 2020 March 31, 2020 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 2019 Senior Notes bearing interest at 5.125%, with interest payable on January 15 and July 15 of each year. The 2019 Senior Notes mature on January 15, 2028. 400,000 400,000 2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.00%, or an alternate base rate plus a margin of 1.00%, with a base rate floor of 1.00%, due on January 26, 2024. 560,000 690,000 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 December 11, 2024. — 55,000 Long-term debt 1,560,000 1,745,000 Less: unamortized debt costs (11,900) (14,700) Long-term debt, net $ 1,548,100 $ 1,730,300 At September 30, 2020, we had no balance outstanding on the asset-based revolving credit facility entered into January 31, 2012, as amended (the "2012 ABL Revolver") and a borrowing capacity of $132.7 million. Interest Rate Swaps: We currently have two interest rate swaps to hedge a total of $400.0 million of our variable interest debt (see Note 9 for further details). As of September 30, 2020, 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 senior unsecured notes due 2024 (the "2016 Senior Notes") and the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows: (In thousands) Year Ending March 31, Amount 2021 (remaining six months ending March 31, 2021) $ — 2022 — 2023 — 2024 1,160,000 2025 — Thereafter 400,000 $ 1,560,000

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2020
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 Accounting Standards Codification ("ASC") 820, Fair Value Measurements , requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market assuming an orderly transaction between market participants. ASC 820 established market (observable inputs) as the preferred source of fair value, to be followed by our assumptions of fair value based on hypothetical transactions (unobservable inputs) in the absence of observable market inputs. Based upon the above, the following fair value hierarchy was created: Level 1 - Quoted market prices for identical instruments in active markets; Level 2 - Quoted prices for similar instruments in active markets, as well as quoted prices for identical or similar instruments in markets that are not considered active; and Level 3 - Unobservable inputs developed by us using estimates and assumptions reflective of those that would be utilized by a market participant. The market values have been determined based on market values for similar instruments adjusted for certain factors. As such, the 2016 Senior Notes, the 2019 Senior Notes, the 2012 Term B-5 Loans, and the 2012 ABL Revolver and our interest rate swaps are measured in Level 2 of the above hierarchy. See summary below detailing the carrying amounts and estimated fair values of these instruments at September 30, 2020 and March 31, 2020. September 30, 2020 March 31, 2020 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2016 Senior Notes $ 600,000 $ 616,500 $ 600,000 $ 603,000 2019 Senior Notes 400,000 413,000 400,000 386,000 2012 Term B-5 Loans 560,000 555,100 690,000 638,250 2012 ABL Revolver — — 55,000 55,000 Interest rate swaps 4,637 4,637 6,317 6,317

Derivative Instruments

Derivative Instruments	6 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Changes in interest rates expose us to risks. To help us manage these risks, in January 2020 we entered into two interest rate swaps to hedge a total of $400.0 million of our variable interest debt. The fair value of these interest rate swaps is reflected in the Consolidated Balance Sheets in other accrued liabilities and other long-term liabilities. We do not use derivatives for trading purposes. The following tables summarize the fair values of our derivative instruments as of the end of the periods shown: September 30, 2020 (In thousands) Hedge Type Final Settlement Date Notional Amount Other Accrued Liabilities Other Long-Term Liabilities Interest rate swap Cash flow 1/31/2021 $ 200,000 $ (926) $ — Interest rate swap Cash flow 1/31/2022 $ 200,000 — (3,711) Total fair value $ (926) $ (3,711) March 31, 2020 (In thousands) Hedge Type Final Settlement Date Notional Amount Other Accrued Liabilities Other Long-Term Liabilities Interest rate swap Cash flow 1/31/2021 $ 200,000 $ (1,905) $ — Interest rate swap Cash flow 1/31/2022 $ 200,000 — (4,412) Total fair value $ (1,905) $ (4,412) The following table summarizes our interest rate swaps, net of tax, for the periods shown: Three Months Ended September 30, Six Months Ended September 30, (In thousands) Location 2020 2019 2020 2019 Gain Recognized in Other Comprehensive Loss (effective portion) Other comprehensive income (loss) 985 — $ 1,294 $ — Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Interest expense — — — — Loss Recognized as Expense Interest expense (1,396) — (2,422) — We expect pre-tax losses of $3.7 million associated with interest rate swaps, currently reported in accumulated other comprehensive loss, to be reclassified into income over the next twelve months. The amount ultimately realized, however, will differ as interest rates change and the underlying contracts settle. Counterparty Credit Risk:

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Sep. 30, 2020
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, 2020. During the three and six months ended September 30, 2020 and 2019, we repurchased shares of our common stock and recorded them as treasury stock. Our share repurchases consisted of the following: Three Months Ended September 30, Six Months Ended September 30, 2020 2019 2020 2019 Shares repurchased pursuant to the provisions of the various employee restricted stock awards: Number of shares — 2,273 31,117 28,537 Average price per share — $35.32 $39.91 $30.83 Total amount repurchased $ — $0.1 million $1.2 million $0.9 million Shares repurchased in conjunction with our share repurchase program: Number of shares 28,865 672,719 28,865 1,622,544 Average price per share $34.55 $31.53 $34.55 $30.80 Total amount repurchased $1.0 million $21.2 million $1.0 million $50.0 million

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following at September 30, 2020 and March 31, 2020: (In thousands) September 30, 2020 March 31, 2020 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (24,986) $ (39,241) Unrealized loss on interest rate swaps, net of tax of $1,067 and $1,453, respectively (3,570) (4,864) Unrecognized net loss on pension plans, net of tax of $17 and $17, respectively (56) (56) Accumulated other comprehensive loss, net of tax $ (28,612) $ (44,161)

Earnings Per Share

Earnings Per Share	6 Months Ended
	Sep. 30, 2020
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 unvested RSUs, are included in the diluted earnings per share calculation to the extent that they are dilutive. In loss periods, the assumed exercise of in-the-money stock options and RSUs has an 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) 2020 2019 2020 2019 Numerator Net income $ 44,589 $ 33,252 $ 88,295 $ 67,177 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,330 50,455 50,297 51,073 Dilutive effect of unvested restricted stock units and options issued to employees and directors 331 356 375 353 Denominator for diluted earnings per share 50,661 50,811 50,672 51,426 Earnings per Common Share: Basic earnings per share $ 0.89 $ 0.66 $ 1.76 $ 1.32 Diluted earnings per share $ 0.88 $ 0.65 $ 1.74 $ 1.31

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Sep. 30, 2020
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 “2005 Plan”), which provided for grants of up to a maximum of 5.0 million shares of restricted stock, stock options, RSUs and other equity-based awards. In June 2014, the Board of Directors approved, and in July 2014, our stockholders ratified, an increase of an additional 1.8 million shares of our common stock for issuance under the 2005 Plan, an increase of the maximum number of shares subject to stock options that could be awarded to any one participant under the 2005 Plan during any fiscal 12-month period from 1.0 million to 2.5 million shares, and an extension of the term of the 2005 Plan by ten years, to February 2025. Directors, officers and other employees of the Company and its subsidiaries, as well as others performing services for the Company, were eligible for grants under the 2005 Plan. On June 23, 2020, the Board of Directors adopted the Prestige Consumer Healthcare Inc. 2020 Long-Term Incentive Plan (the “2020 Plan”). The 2020 Plan became effective on August 4, 2020, upon the approval of the 2020 Plan by our stockholders. A total of 2,827,210 shares are available for issuance under the 2020 Plan (comprised of 2,000,000 new shares plus 827,210 shares that were unissued under the 2005 Plan). All future equity awards will be made from the 2020 Plan, and the Company will not grant any additional awards under the 2005 Plan. The following table provides information regarding our stock-based compensation: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2020 2019 2020 2019 Pre-tax share-based compensation costs charged against income $ 2,892 $ 2,521 $ 4,356 $ 3,902 Income tax benefit recognized on compensation costs $ 451 $ 401 $ 563 $ 611 Total fair value of options and RSUs vested during the period $ 1,015 $ 1,266 $ 6,796 $ 7,365 Cash received from the exercise of stock options $ 69 $ 269 $ 1,285 $ 544 Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises $ 4 $ 48 $ 948 $ 482 At September 30, 2020, there were $9.8 million of unrecognized compensation costs related to unvested share-based compensation arrangements under the 2005 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 year. At September 30, 2020 , there were 2.8 million shares available for issuance under the 2020 Plan. On May 4, 2020, the Compensation and Talent Management Committee (the "Committee") of our Board of Directors granted 79,070 performance stock units, 73,636 RSUs and stock options to acquire 249,875 shares of our common stock under the 2005 Plan to certain executive officers and employees. Performance units are earned based on achievement of the performance objectives set by the Committee and, if earned, vest in their entirety on the three-year anniversary of the date of grant. In light of the uncertain economic environment, the Committee elected to set the performance objectives applicable to these awards at a later date. The stock options were granted at an exercise price of $39.98 per share, which was equal to the closing price for our common stock on the date of the grant. A newly appointed independent member of the Board of Directors received a grant under the 2005 Plan of 907 RSUs on May 4, 2020. On August 4, 2020, each of the independent members of the Board of Directors received a grant of 3,732 RSUs under the 2020 Plan. The RSUs are fully vested upon receipt of the award and will be settled by delivery to each director of one share of our common stock for each vested RSU promptly following the earliest of (i) such director's death, (ii) such director's separation from service or (iii) a change in control of the Company. Restricted Stock Units The fair value of the RSUs is determined using the closing price of our common stock on the date of the grant. A summary of the RSUs granted under the 2005 Plan and the 2020 Plan is presented below: RSUs Shares (in thousands) Weighted Six Months Ended September 30, 2019 Vested and unvested 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 unvested at September 30, 2019 538.7 32.88 Vested at September 30, 2019 138.3 31.71 Six Months Ended September 30, 2020 Vested and unvested at March 31, 2020 512.1 $ 32.49 Granted 179.7 39.82 Vested and issued (74.0) 44.38 Forfeited (4.7) 56.11 Vested and unvested at September 30, 2020 613.1 33.02 Vested at September 30, 2020 150.4 31.98 Options The fair value of each award is estimated on the date of grant using the Black-Scholes Option Pricing Model that uses the assumptions presented below: Six Months Ended September 30, 2020 2019 Expected volatility 32.1% - 32.2% 30.9% - 31.3% Expected dividends $ — $ — Expected term in years 6.0 to 7.0 6.0 to 7.0 Risk-free rate 0.5 % 2.3% to 2.4% Weighted average grant date fair value of options granted 12.91 10.83 A summary of option activity under the 2005 Plan and the 2020 Plan is as follows: Options Shares (in thousands) Weighted Weighted Aggregate 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 Six Months Ended September 30, 2020 Outstanding at March 31, 2020 1,020.2 $ 35.90 Granted 249.9 39.98 Exercised (62.8) 20.46 Forfeited or expired — — Outstanding at September 30, 2020 1,207.3 37.55 7.0 $ 5,032 Vested at September 30, 2020 699.1 39.39 5.6 $ 3,430 The aggregate intrinsic value of options exercised during the six months ended September 30, 2020 was $1.3 million.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act was signed into law. The Tax Cuts and Jobs Act, among other things, reduced the U.S. federal corporate tax rate from 35% to 21% and imposed a new minimum tax on Global Intangible Low-Taxed Income ("GILTI") earned by foreign subsidiaries. In July 2020, final regulations were issued for GILTI, which include a high-tax exception for certain income earned by foreign subsidiaries if the foreign tax rate is in excess of 90% of the U.S. corporate tax rate of 21%. We calculated the potential impact of these final regulations and accounted for those impacts in the quarterly provision for the period ended September 30, 2020. Income taxes are recorded in our quarterly financial statements based on our estimated annual effective income tax rate, subject to adjustments for discrete events, should they occur. The effective tax rates used in the calculation of income taxes were 14.1% and 24.5% for the three months ended September 30, 2020 and 2019, respectively. The effective tax rates used in the calculation of income taxes were 19.8% and 25.4% for the six months ended September 30, 2020 and 2019, respectively. The decrease in the effective tax rate for the six months ended September 30, 2020 versus the prior year period was primarily due to the final GILTI regulations issued in July 2020, which resulted in the release of the valuation allowance on foreign tax credit carryforwards of $5.1 million.

Employee Retirement Plans

Employee Retirement Plans	6 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Employee Retirement Plans	Employee Retirement PlansThe primary components of Net Periodic Benefits consist of the following: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2020 2019 2020 2019 Interest cost $ 525 $ 577 $ 1,050 $ 1,154 Expected return on assets (647) (721) (1,294) (1,442) Net periodic benefit income $ (122) $ (144) $ (244) $ (288) During the six months ended September 30, 2020, we contributed $0.2 million to our non-qualified defined benefit plan and made no contributions to the qualified defined benefit plan. During the remainder of fiscal 2021, we expect to contribute an additional $0.2 million to our non-qualified plan and make a $1.0 million contribution to the qualified plan.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesWe 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 reasonably possible losses from 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
	Sep. 30, 2020
Risks and Uncertainties [Abstract]
Concentrations of Risk	Concentrations of Risk Our revenues are concentrated in the area of OTC Healthcare. We sell our products to mass merchandisers, drug, food, dollar, convenience and club stores and e-commerce channels. During the three and six months ended September 30, 2020, approximately 45.8% and 46.2%, respectively, of our gross revenues were derived from our five top selling brands. 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. One customer, Walmart, accounted for more than 10% of our gross revenues for the three and six months ended September 30, 2020. Walmart accounted for approximately 22.5% and 22.3%, respectively, of our gross revenues for the three and six months ended September 30, 2020. Walmart accounted for approximately 22.9% and 23.5%, respectively, of our gross revenues for the three and six months ended September 30, 2019. Our product distribution in the United States is managed by a third party through one primary distribution center in Clayton, Indiana. In addition, we operate one manufacturing facility for certain of our products located in Lynchburg, Virginia. A natural disaster, such as tornado, 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. In addition, a serious disruption caused by performance or contractual issues with our third party distribution manager or COVID-19 or other public health emergencies could also materially impact our product distribution. Any disruption as a result of third party performance at our distribution center 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 center, the third party distribution manager 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, 2020, we had relationships with 113 third party manufacturers. Of those, we had long-term contracts with 19 manufacturers that produced items that accounted for approximately 65.4% of gross sales for the six months ended September 30, 2020. 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. 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
	Sep. 30, 2020
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 evaluate the performance of our operating segments and allocate resources to these segments based primarily on contribution margin, which we define as gross profit less advertising and marketing expenses. The tables below summarize information about our reportable segments. Three Months Ended September 30, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 216,575 $ 20,847 $ 237,422 Cost of sales 91,069 8,692 99,761 Gross profit 125,506 12,155 137,661 Advertising and marketing 34,014 4,327 38,341 Contribution margin $ 91,492 $ 7,828 99,320 Other operating expenses 26,417 Operating income $ 72,903 * Intersegment revenues of $0.6 million were eliminated from the North American OTC Healthcare segment. Six Months Ended September 30, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 427,233 $ 39,583 $ 466,816 Cost of sales 178,896 16,391 195,287 Gross profit 248,337 23,192 271,529 Advertising and marketing 58,694 7,397 66,091 Contribution margin $ 189,643 $ 15,795 205,438 Other operating expenses 52,416 Operating income $ 153,022 * Intersegment revenues of $1.6 million were eliminated from the North American OTC Healthcare segment. Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC 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 marketing 34,595 4,072 38,667 Contribution margin $ 86,352 $ 11,732 98,084 Other operating expenses 28,736 Operating income $ 69,348 * 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 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 marketing 65,609 7,859 73,468 Contribution margin $ 177,311 $ 20,039 197,350 Other operating expenses 56,516 Operating income $ 140,834 * Intersegment revenues of $1.6 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, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 30,623 $ 267 $ 30,890 Cough & Cold 14,796 3,086 17,882 Women's Health 61,492 4,106 65,598 Gastrointestinal 31,718 6,379 38,097 Eye & Ear Care 26,767 3,037 29,804 Dermatologicals 27,875 836 28,711 Oral Care 21,944 3,134 25,078 Other OTC 1,360 2 1,362 Total segment revenues $ 216,575 $ 20,847 $ 237,422 Six Months Ended September 30, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 58,490 $ 541 $ 59,031 Cough & Cold 28,234 6,988 35,222 Women's Health 126,902 6,537 133,439 Gastrointestinal 61,768 12,084 73,852 Eye & Ear Care 49,619 5,582 55,201 Dermatologicals 55,495 1,535 57,030 Oral Care 44,110 6,313 50,423 Other OTC 2,615 3 2,618 Total segment revenues $ 427,233 $ 39,583 $ 466,816 Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC 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 Total segment revenues $ 213,878 $ 24,191 $ 238,069 Six Months Ended September 30, 2019 (In thousands) North American OTC International OTC 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 Total segment revenues $ 424,662 $ 45,561 $ 470,223 Our total segment revenues by geographic area are as follows: Three Months Ended September 30, Six Months Ended September 30, 2020 2019 2020 2019 United States $ 203,289 199,714 $ 402,635 $ 400,343 Rest of world 34,133 38,355 64,181 69,880 Total $ 237,422 $ 238,069 $ 466,816 $ 470,223 Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows: September 30, 2020 North American OTC International OTC Consolidated (In thousands) Goodwill $ 546,643 $ 31,276 $ 577,919 Intangible assets Indefinite-lived 2,195,617 81,066 2,276,683 Finite-lived, net 200,033 4,520 204,553 Intangible assets, net 2,395,650 85,586 2,481,236 Total $ 2,942,293 $ 116,862 $ 3,059,155 March 31, 2020 North American OTC International OTC Consolidated (In thousands) Goodwill $ 546,643 $ 28,536 $ 575,179 Intangible assets Indefinite-lived 2,195,617 69,714 2,265,331 Finite-lived, net 209,604 4,456 214,060 Intangible assets, net 2,405,221 74,170 2,479,391 Total $ 2,951,864 $ 102,706 $ 3,054,570

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	6 Months Ended
	Sep. 30, 2020
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., 2021) mean our fiscal year ending or ended on March 31 st of that year. Operating results for the six months ended September 30, 2020 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2021. 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, 2020.
Use of Estimates	Use of EstimatesThe 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	Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 adopted this standard effective April 1, 2020, and the adoption did not 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 (with subsequent targeted amendments). 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. The guidance requires entities to utilize an expected credit loss model for certain financial instruments, including most trade receivables, which replaces the incurred credit loss model previously used. Under this new model, we are required to recognize estimated credit losses expected to occur over time using a broad range of information including historical information, current conditions and reasonable and supportable forecasts. The amendments in these updates were effective for us in the first quarter of our fiscal year 2021. We adopted this standard effective April 1, 2020, and the adoption did not have a material impact on our Consolidated Financial Statements. 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 December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . The amendments in this update eliminate the need for an organization to analyze whether certain exceptions apply for tax purposes. It also simplifies GAAP for certain taxes. The amendments in these updates are effective for us for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following: (In thousands) September 30, 2020 March 31, 2020 Components of Inventories Packaging and raw materials $ 9,107 $ 9,803 Work in process 297 355 Finished goods 104,622 105,868 Inventories $ 114,026 $ 116,026

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Sep. 30, 2020
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, 2020 Goodwill $ 710,354 $ 28,536 $ 738,890 Accumulated impairment loss (163,711) — (163,711) Balance - March 31, 2020 546,643 28,536 575,179 Effects of foreign currency exchange rates — 2,740 2,740 Balance - September 30, 2020 Goodwill 710,354 31,276 741,630 Accumulated impairment loss (163,711) — (163,711) Balance - September 30, 2020 $ 546,643 $ 31,276 $ 577,919

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	6 Months Ended
	Sep. 30, 2020
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- Finite-Lived Totals Gross Carrying Amounts Balance — March 31, 2020 $ 2,265,331 $ 389,801 $ 2,655,132 Effects of foreign currency exchange rates 11,352 489 11,841 Balance — September 30, 2020 2,276,683 390,290 2,666,973 Accumulated Amortization Balance — March 31, 2020 — 175,741 175,741 Additions — 9,817 9,817 Effects of foreign currency exchange rates — 179 179 Balance — September 30, 2020 — 185,737 185,737 Intangible assets, net - September 30, 2020 $ 2,276,683 $ 204,553 $ 2,481,236
Reconciliation of the Activity Affecting Indefinite Lived Intangible Assets	A reconciliation of the activity affecting intangible assets, net is as follows: (In thousands) Indefinite- Finite-Lived Totals Gross Carrying Amounts Balance — March 31, 2020 $ 2,265,331 $ 389,801 $ 2,655,132 Effects of foreign currency exchange rates 11,352 489 11,841 Balance — September 30, 2020 2,276,683 390,290 2,666,973 Accumulated Amortization Balance — March 31, 2020 — 175,741 175,741 Additions — 9,817 9,817 Effects of foreign currency exchange rates — 179 179 Balance — September 30, 2020 — 185,737 185,737 Intangible assets, net - September 30, 2020 $ 2,276,683 $ 204,553 $ 2,481,236
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 10 to 30 years, and the estimated amortization expense for each of the five succeeding years and the periods thereafter is as follows (in thousands): (In thousands) Year Ending March 31, Amount 2021 (remaining six months ended March 31, 2021) 9,823 2022 19,645 2023 19,645 2024 19,615 2025 17,570 Thereafter 118,255 $ 204,553

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Lease Expense	The components of lease expense for the three and six months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 443 — $ 768 $ — Interest on lease liabilities 59 — 109 — Operating lease cost 1,692 2,242 3,389 3,458 Short term lease cost 22 27 45 50 Variable lease cost 12,303 15,696 24,010 32,295 Sublease income (55) (860) (109) (1,774) Total net lease cost $ 14,464 17,105 $ 28,212 $ 34,029 The weighted average remaining lease term and weighted average discount rate were as follows: September 30, 2020 Weighted average remaining lease term (years) Operating leases 5.08 Finance leases 4.00 Weighted average discount rate Operating leases 5.28 % Finance leases 2.96 %
Maturities of Operating Leases	(In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining six months ending March 31, 2021) $ 3,613 $ 1,466 $ 5,079 2022 6,521 2,932 9,453 2023 6,291 2,932 9,223 2024 6,303 2,932 9,235 2025 4,132 1,467 5,599 Thereafter 4,974 — 4,974 Total undiscounted lease payments 31,834 11,729 43,563 Less amount of lease payments representing interest (3,973) (653) (4,626) Total present value of lease payments $ 27,861 $ 11,076 $ 38,937
Maturities of Finance Leases	(In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining six months ending March 31, 2021) $ 3,613 $ 1,466 $ 5,079 2022 6,521 2,932 9,453 2023 6,291 2,932 9,223 2024 6,303 2,932 9,235 2025 4,132 1,467 5,599 Thereafter 4,974 — 4,974 Total undiscounted lease payments 31,834 11,729 43,563 Less amount of lease payments representing interest (3,973) (653) (4,626) Total present value of lease payments $ 27,861 $ 11,076 $ 38,937

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	6 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other accrued liabilities consist of the following: (In thousands) September 30, 2020 March 31, 2020 Accrued marketing costs $ 37,420 $ 34,450 Accrued compensation costs 8,025 13,393 Accrued broker commissions 986 1,491 Income taxes payable 2,902 3,210 Accrued professional fees 3,700 4,183 Accrued production costs 3,187 5,628 Accrued sales tax 930 1,917 Other accrued liabilities 7,973 6,491 $ 65,123 $ 70,763

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Sep. 30, 2020
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, 2020 March 31, 2020 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 2019 Senior Notes bearing interest at 5.125%, with interest payable on January 15 and July 15 of each year. The 2019 Senior Notes mature on January 15, 2028. 400,000 400,000 2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.00%, or an alternate base rate plus a margin of 1.00%, with a base rate floor of 1.00%, due on January 26, 2024. 560,000 690,000 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 December 11, 2024. — 55,000 Long-term debt 1,560,000 1,745,000 Less: unamortized debt costs (11,900) (14,700) Long-term debt, net $ 1,548,100 $ 1,730,300
Aggregate Future Principal Payments	As of September 30, 2020, 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 senior unsecured notes due 2024 (the "2016 Senior Notes") and the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows: (In thousands) Year Ending March 31, Amount 2021 (remaining six months ending March 31, 2021) $ — 2022 — 2023 — 2024 1,160,000 2025 — Thereafter 400,000 $ 1,560,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Carry Amounts and Fair Value Measurements	See summary below detailing the carrying amounts and estimated fair values of these instruments at September 30, 2020 and March 31, 2020. September 30, 2020 March 31, 2020 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2016 Senior Notes $ 600,000 $ 616,500 $ 600,000 $ 603,000 2019 Senior Notes 400,000 413,000 400,000 386,000 2012 Term B-5 Loans 560,000 555,100 690,000 638,250 2012 ABL Revolver — — 55,000 55,000 Interest rate swaps 4,637 4,637 6,317 6,317

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following tables summarize the fair values of our derivative instruments as of the end of the periods shown: September 30, 2020 (In thousands) Hedge Type Final Settlement Date Notional Amount Other Accrued Liabilities Other Long-Term Liabilities Interest rate swap Cash flow 1/31/2021 $ 200,000 $ (926) $ — Interest rate swap Cash flow 1/31/2022 $ 200,000 — (3,711) Total fair value $ (926) $ (3,711) March 31, 2020 (In thousands) Hedge Type Final Settlement Date Notional Amount Other Accrued Liabilities Other Long-Term Liabilities Interest rate swap Cash flow 1/31/2021 $ 200,000 $ (1,905) $ — Interest rate swap Cash flow 1/31/2022 $ 200,000 — (4,412) Total fair value $ (1,905) $ (4,412)
Derivative Instruments, Gain (Loss)	The following table summarizes our interest rate swaps, net of tax, for the periods shown: Three Months Ended September 30, Six Months Ended September 30, (In thousands) Location 2020 2019 2020 2019 Gain Recognized in Other Comprehensive Loss (effective portion) Other comprehensive income (loss) 985 — $ 1,294 $ — Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Interest expense — — — — Loss Recognized as Expense Interest expense (1,396) — (2,422) —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Class of Treasury Stock	Our share repurchases consisted of the following: Three Months Ended September 30, Six Months Ended September 30, 2020 2019 2020 2019 Shares repurchased pursuant to the provisions of the various employee restricted stock awards: Number of shares — 2,273 31,117 28,537 Average price per share — $35.32 $39.91 $30.83 Total amount repurchased $ — $0.1 million $1.2 million $0.9 million Shares repurchased in conjunction with our share repurchase program: Number of shares 28,865 672,719 28,865 1,622,544 Average price per share $34.55 $31.53 $34.55 $30.80 Total amount repurchased $1.0 million $21.2 million $1.0 million $50.0 million

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consisted of the following at September 30, 2020 and March 31, 2020: (In thousands) September 30, 2020 March 31, 2020 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (24,986) $ (39,241) Unrealized loss on interest rate swaps, net of tax of $1,067 and $1,453, respectively (3,570) (4,864) Unrecognized net loss on pension plans, net of tax of $17 and $17, respectively (56) (56) Accumulated other comprehensive loss, net of tax $ (28,612) $ (44,161)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Sep. 30, 2020
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) 2020 2019 2020 2019 Numerator Net income $ 44,589 $ 33,252 $ 88,295 $ 67,177 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,330 50,455 50,297 51,073 Dilutive effect of unvested restricted stock units and options issued to employees and directors 331 356 375 353 Denominator for diluted earnings per share 50,661 50,811 50,672 51,426 Earnings per Common Share: Basic earnings per share $ 0.89 $ 0.66 $ 1.76 $ 1.32 Diluted earnings per share $ 0.88 $ 0.65 $ 1.74 $ 1.31

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Compensation Expense Information	The following table provides information regarding our stock-based compensation: Three Months Ended September 30, Six Months Ended September 30, (In thousands) 2020 2019 2020 2019 Pre-tax share-based compensation costs charged against income $ 2,892 $ 2,521 $ 4,356 $ 3,902 Income tax benefit recognized on compensation costs $ 451 $ 401 $ 563 $ 611 Total fair value of options and RSUs vested during the period $ 1,015 $ 1,266 $ 6,796 $ 7,365 Cash received from the exercise of stock options $ 69 $ 269 $ 1,285 $ 544 Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises $ 4 $ 48 $ 948 $ 482
Summary of Restricted Shares	A summary of the RSUs granted under the 2005 Plan and the 2020 Plan is presented below: RSUs Shares (in thousands) Weighted Six Months Ended September 30, 2019 Vested and unvested 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 unvested at September 30, 2019 538.7 32.88 Vested at September 30, 2019 138.3 31.71 Six Months Ended September 30, 2020 Vested and unvested at March 31, 2020 512.1 $ 32.49 Granted 179.7 39.82 Vested and issued (74.0) 44.38 Forfeited (4.7) 56.11 Vested and unvested at September 30, 2020 613.1 33.02 Vested at September 30, 2020 150.4 31.98
Fair Value of Options Granted	The fair value of each award is estimated on the date of grant using the Black-Scholes Option Pricing Model that uses the assumptions presented below: Six Months Ended September 30, 2020 2019 Expected volatility 32.1% - 32.2% 30.9% - 31.3% Expected dividends $ — $ — Expected term in years 6.0 to 7.0 6.0 to 7.0 Risk-free rate 0.5 % 2.3% to 2.4% Weighted average grant date fair value of options granted 12.91 10.83
Stock Option Activity	A summary of option activity under the 2005 Plan and the 2020 Plan is as follows: Options Shares (in thousands) Weighted Weighted Aggregate 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 Six Months Ended September 30, 2020 Outstanding at March 31, 2020 1,020.2 $ 35.90 Granted 249.9 39.98 Exercised (62.8) 20.46 Forfeited or expired — — Outstanding at September 30, 2020 1,207.3 37.55 7.0 $ 5,032 Vested at September 30, 2020 699.1 39.39 5.6 $ 3,430

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	6 Months Ended
	Sep. 30, 2020
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) 2020 2019 2020 2019 Interest cost $ 525 $ 577 $ 1,050 $ 1,154 Expected return on assets (647) (721) (1,294) (1,442) Net periodic benefit income $ (122) $ (144) $ (244) $ (288)

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Information about our Operating and Reportable Segments	The tables below summarize information about our reportable segments. Three Months Ended September 30, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 216,575 $ 20,847 $ 237,422 Cost of sales 91,069 8,692 99,761 Gross profit 125,506 12,155 137,661 Advertising and marketing 34,014 4,327 38,341 Contribution margin $ 91,492 $ 7,828 99,320 Other operating expenses 26,417 Operating income $ 72,903 * Intersegment revenues of $0.6 million were eliminated from the North American OTC Healthcare segment. Six Months Ended September 30, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 427,233 $ 39,583 $ 466,816 Cost of sales 178,896 16,391 195,287 Gross profit 248,337 23,192 271,529 Advertising and marketing 58,694 7,397 66,091 Contribution margin $ 189,643 $ 15,795 205,438 Other operating expenses 52,416 Operating income $ 153,022 * Intersegment revenues of $1.6 million were eliminated from the North American OTC Healthcare segment. Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC 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 marketing 34,595 4,072 38,667 Contribution margin $ 86,352 $ 11,732 98,084 Other operating expenses 28,736 Operating income $ 69,348 * 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 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 marketing 65,609 7,859 73,468 Contribution margin $ 177,311 $ 20,039 197,350 Other operating expenses 56,516 Operating income $ 140,834 * Intersegment revenues of $1.6 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, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 30,623 $ 267 $ 30,890 Cough & Cold 14,796 3,086 17,882 Women's Health 61,492 4,106 65,598 Gastrointestinal 31,718 6,379 38,097 Eye & Ear Care 26,767 3,037 29,804 Dermatologicals 27,875 836 28,711 Oral Care 21,944 3,134 25,078 Other OTC 1,360 2 1,362 Total segment revenues $ 216,575 $ 20,847 $ 237,422 Six Months Ended September 30, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 58,490 $ 541 $ 59,031 Cough & Cold 28,234 6,988 35,222 Women's Health 126,902 6,537 133,439 Gastrointestinal 61,768 12,084 73,852 Eye & Ear Care 49,619 5,582 55,201 Dermatologicals 55,495 1,535 57,030 Oral Care 44,110 6,313 50,423 Other OTC 2,615 3 2,618 Total segment revenues $ 427,233 $ 39,583 $ 466,816 Three Months Ended September 30, 2019 (In thousands) North American OTC International OTC 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 Total segment revenues $ 213,878 $ 24,191 $ 238,069 Six Months Ended September 30, 2019 (In thousands) North American OTC International OTC 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 Total segment revenues $ 424,662 $ 45,561 $ 470,223
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, 2020 2019 2020 2019 United States $ 203,289 199,714 $ 402,635 $ 400,343 Rest of world 34,133 38,355 64,181 69,880 Total $ 237,422 $ 238,069 $ 466,816 $ 470,223
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, 2020 North American OTC International OTC Consolidated (In thousands) Goodwill $ 546,643 $ 31,276 $ 577,919 Intangible assets Indefinite-lived 2,195,617 81,066 2,276,683 Finite-lived, net 200,033 4,520 204,553 Intangible assets, net 2,395,650 85,586 2,481,236 Total $ 2,942,293 $ 116,862 $ 3,059,155 March 31, 2020 North American OTC International OTC Consolidated (In thousands) Goodwill $ 546,643 $ 28,536 $ 575,179 Intangible assets Indefinite-lived 2,195,617 69,714 2,265,331 Finite-lived, net 209,604 4,456 214,060 Intangible assets, net 2,405,221 74,170 2,479,391 Total $ 2,951,864 $ 102,706 $ 3,054,570

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Inventory Disclosure [Abstract]
Packaging and raw materials	$ 9,107	$ 9,803
Work in process	297	355
Finished goods	104,622	105,868
Inventories	114,026	116,026
Inventory valuation reserves related to obsolete and slow-moving inventory	$ 5,500	$ 6,500

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2020	Mar. 31, 2020
Goodwill [Roll Forward]
Goodwill	$ 738,890
Accumulated impairment loss	(163,711)	$ (163,711)
Goodwill, net	575,179
Effects of foreign currency exchange rates	2,740
Goodwill	741,630
Goodwill, net	577,919
North American OTC Healthcare
Goodwill [Roll Forward]
Goodwill	710,354
Accumulated impairment loss	(163,711)	(163,711)
Goodwill, net	546,643
Effects of foreign currency exchange rates	0
Goodwill	710,354
Goodwill, net	546,643
International OTC Healthcare
Goodwill [Roll Forward]
Goodwill	28,536
Accumulated impairment loss	0	$ 0
Goodwill, net	28,536
Effects of foreign currency exchange rates	2,740
Goodwill	31,276
Goodwill, net	$ 31,276

Intangible Assets, net - Activi

Intangible Assets, net - Activity Affecting Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Indefinite-Lived Intangible Assets [Abstract]
Indefinite-lived trademarks, beginning balance			$ 2,265,331
Indefinite-lived trademarks, ending balance	$ 2,276,683		2,276,683
Intangible Assets, Gross [Abstract]
Totals, gross, beginning balance			2,655,132
Intangible Assets, Translation Adjustments Gain (Loss)			11,841
Totals, gross, ending balance	2,666,973		2,666,973
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance			175,741
Accumulated amortization, additions	4,900	$ 4,900	9,817	$ 9,800
Accumulated amortization, effects of foreign exchange rates			179
Accumulated amortization, ending balance	185,737		185,737
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived, net	204,553		204,553		$ 214,060
Intangible Assets, Net [Abstract]
Intangible assets, net	2,481,236		2,481,236		$ 2,479,391
Finite-Lived Trademarks and Customer Relationships
Finite-Lived Intangible Assets, Gross [Abstract]
Finite-lived trademarks and customer relationships, beginning balance			389,801
Finite-lived trademarks and customer relationships, effects of foreign currency exchange rate			489
Finite-lived trademarks and customer relationships, ending balance	390,290		390,290
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance			175,741
Accumulated amortization, additions			9,817
Accumulated amortization, effects of foreign exchange rates			179
Accumulated amortization, ending balance	185,737		185,737
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived, net	204,553		204,553
Indefinite- Lived Trademarks
Indefinite-Lived Intangible Assets [Abstract]
Indefinite-lived trademarks, beginning balance			2,265,331
Indefinite lived trademarks, effects of foreign currency exchange rate			11,352
Indefinite-lived trademarks, ending balance	$ 2,276,683		$ 2,276,683

Intangible Assets, net - Narrat

Intangible Assets, net - Narrative (Details) - USD ($)	3 Months Ended			6 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 4,900,000		$ 4,900,000	$ 9,817,000	$ 9,800,000
Impairment of intangible assets		$ 0
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life				10 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life				30 years

Intangible Assets, net - Future

Intangible Assets, net - Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of the year	$ 9,823
2022	19,645
2023	19,645
2024	19,615
2025	17,570
Thereafter	118,255
Finite-lived intangible assets, net	$ 204,553	$ 214,060

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Amortization of right-of-use assets	$ 443	$ 0	$ 768	$ 0
Interest on lease liabilities	59	0	109	0
Operating lease cost	1,692	2,242	3,389	3,458
Short term lease cost	22	27	45	50
Variable lease cost	12,303	15,696	24,010	32,295
Sublease income	(55)	(860)	(109)	(1,774)
Total net lease cost	$ 14,464	$ 17,105	$ 28,212	$ 34,029

Leases (Lease Maturities) (Deta

Leases (Lease Maturities) (Details) $ in Thousands	Sep. 30, 2020USD ($)
Operating Leases
2021 (Remaining six months ending March 31, 2021)	$ 3,613
2022	6,521
2023	6,291
2024	6,303
2025	4,132
Thereafter	4,974
Total undiscounted lease payments	31,834
Less amount of lease payments representing interest	(3,973)
Total present value of lease payments	27,861
Finance Lease
2021 (Remaining six months ending March 31, 2021)	1,466
2022	2,932
2023	2,932
2024	2,932
2025	1,467
Thereafter	0
Total undiscounted lease payments	11,729
Total present value of lease payments	(653)
Total present value of lease payments	11,076
Total
2021 (Remaining six months ending March 31, 2021)	5,079
2022	9,453
2023	9,223
2024	9,235
2025	5,599
Thereafter	4,974
Total undiscounted lease payments	43,563
Less amount of lease payments representing interest	(4,626)
Total present value of lease payments	$ 38,937

Leases (Additional Information)

Leases (Additional Information) (Details)	Sep. 30, 2020
Weighted average remaining lease term (years)
Operating leases	5 years 29 days
Finance leases	4 years
Weighted average discount rate
Operating leases	5.28%
Finance leases	2.96%

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Lessee, Lease, Description [Line Items]
Finance lease liability	$ 11,076
Finance lease right-of-use assets, net	10,897	$ 5,842
GEODIS
Lessee, Lease, Description [Line Items]
Finance lease liability	5,800
Finance lease right-of-use assets, net	$ 5,800

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Payables and Accruals [Abstract]
Accrued marketing costs	$ 37,420	$ 34,450
Accrued compensation costs	8,025	13,393
Accrued broker commissions	986	1,491
Income taxes payable	2,902	3,210
Accrued professional fees	3,700	4,183
Accrued production costs	3,187	5,628
Accrued sales tax	930	1,917
Other accrued liabilities	7,973	6,491
Other accrued liabilities	$ 65,123	$ 70,763

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 1,560,000	$ 1,745,000
Less: unamortized debt costs	(11,900)	(14,700)
Long-term debt, net	1,548,100	1,730,300
2012 ABL Revolver | Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 0	55,000
Senior Notes | 2016 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	6.375%
Total long-term debt (including current portion)	$ 600,000	600,000
Senior Notes | 2019 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	5.125%
Total long-term debt (including current portion)	$ 400,000	400,000
Term B-5 Loans | 2012 Senior Notes
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 560,000	$ 690,000
Term B-5 Loans | 2012 Senior Notes | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.00%
Debt instrument, variable rate, minimum	0.00%
Term B-5 Loans | 2012 Senior Notes | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Debt instrument, variable rate, minimum	1.00%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	6 Months Ended
	Sep. 30, 2020USD ($)
Interest rate swaps | Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative, notional amount	$ 400,000,000
Revolving Credit Facility | 2012 ABL Revolver
Debt Instrument [Line Items]
Repayments of long-term debt	0
Borrowing capacity	$ 132,700,000

Long-Term Debt - Maturities of

Long-Term Debt - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Aggregate Future Principal Payments
2021 (remaining six months ending March 31, 2021)	$ 0
2022	0
2023	0
2024	1,160,000
2025	0
Thereafter	400,000
Total long-term debt (including current portion)	$ 1,560,000	$ 1,745,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Carrying Value | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	$ 4,637	$ 6,317
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 | 2019 Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	400,000	400,000
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	560,000	690,000
Revolving Credit Facility | 2012 ABL Revolver | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
2012 ABL Revolver	0	55,000
Fair Value, Measurements, Recurring | Fair Value | Fair Value, Inputs, Level 2 | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	4,637	6,317
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	616,500	603,000
Fair Value, Measurements, Recurring | Senior Notes | 2019 Senior Notes | Fair Value | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, senior notes and term loans	413,000	386,000
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	555,100	638,250
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	$ 0	$ 55,000

Derivative Instruments (Details

Derivative Instruments (Details)	Sep. 30, 2020USD ($)	Jan. 31, 2020agreement
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, number of instruments held | agreement		2
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	$ (3,700,000)
Interest rate swaps | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 400,000,000

Derivative Instruments - Summar

Derivative Instruments - Summary of Fair Values of Derivatives (Details) - Interest rate swaps - Designated as Hedging Instrument - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 400,000,000
Cash flow
Derivatives, Fair Value [Line Items]
Derivative, notional amount	200,000,000	$ 200,000,000
Other Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	(926,000)	(1,905,000)
Other Long-Term Liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ (3,711,000)	$ (4,412,000)

Derivative Instruments - Summ_2

Derivative Instruments - Summary of Interest Rate Swaps (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	$ 0	$ 0	$ 0	$ 0
Loss Recognized as Expense	(1,396)	0	(2,422)	0
Other comprehensive income (loss)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in Other Comprehensive Loss (effective portion)	$ 985	$ 0	$ 1,294	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details)	6 Months Ended
	Sep. 30, 2020USD ($)vote$ / sharesshares	Mar. 31, 2020$ / sharesshares
Stockholders' Equity Note [Abstract]
Common stock, shares authorized (in shares) | shares	250,000,000	250,000,000
Common stock, par value (in USD per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares) | shares	5,000,000	5,000,000
Preferred stock, par value (in USD per share) | $ / shares	$ 0.01	$ 0.01
Voting rights, number of votes per common share owned | vote	1
Dividends declared on common stock | $	$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Repurchased Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Total amount repurchased	$ 997	$ 21,291	$ 2,239	$ 50,856
Share Repurchase Program
Class of Stock [Line Items]
Number of share (in shares)	28,865	672,719	28,865	1,622,544
Average price per share (in USD per share)	$ 34.55	$ 31.53	$ 34.55	$ 30.80
Total amount repurchased	$ 1,000	$ 21,200	$ 1,000	$ 50,000
Restricted Shares
Class of Stock [Line Items]
Number of share (in shares)	0	2,273	31,117	28,537
Average price per share (in USD per share)	$ 0	$ 35.32	$ 39.91	$ 30.83
Total amount repurchased	$ 0	$ 100	$ 1,200	$ 900

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ 1,278,217,000	$ 1,170,971,000	$ 1,227,014,000	$ 1,112,790,000	$ 1,101,623,000	$ 1,095,831,000
Reclassification from accumulated other comprehensive loss into earnings	0	0
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(24,986,000)	(39,241,000)
Unrealized loss on interest rate swaps, net of tax of $1,067 and $1,453, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(3,570,000)	(4,864,000)
Other comprehensive income (loss), cash flow hedge, reclassification tax	1,067,000	1,453,000
Unrecognized net loss on pension plans, net of tax of $17 and $17, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(56,000)	(56,000)
Accumulated other comprehensive income, accumulated tax	17,000	17,000
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ (28,612,000)	$ (44,161,000)	$ (33,262,000)	$ (29,555,000)	$ (25,971,000)	$ (25,747,000)

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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator
Net income	$ 44,589	$ 33,252	$ 88,295	$ 67,177
Denominator
Denominator for basic earnings per share — weighted average shares outstanding (in shares)	50,330	50,455	50,297	51,073
Dilutive effect of nonvested restricted stock units and options issued to employees and directors (in shares)	331	356	375	353
Denominator for diluted earnings per share (in shares)	50,661	50,811	50,672	51,426
Earnings per Common Share:
Basic earnings per share (in USD per share)	$ 0.89	$ 0.66	$ 1.76	$ 1.32
Diluted earnings per share (in USD per share)	$ 0.88	$ 0.65	$ 1.74	$ 1.31

Earnings Per Share (Antidilutiv

Earnings Per Share (Antidilutive Securities) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
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)	0.6	0.7	0.6	0.9

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 04, 2020	May 04, 2020	May 31, 2014	Jun. 30, 2014	Sep. 30, 2020	Sep. 30, 2019
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
Unrecognized compensation costs related to nonvested awards					$ 9.8
Unrecognized compensation costs related to nonvested awards, weighted average period for recognition					1 year
Shares available for issuance under the Plan (in shares)					2,800,000
Stock options granted (in shares)					249,900	302,700
Options, Additional Disclosures:
Options exercised, aggregate intrinsic value					$ 1.3
Performance Shares
Share-based Compensation, Aggregate Disclosures:
Share grants in period (in shares)		79,070
Restricted Stock Units (RSUs) & Stock Options
Share-based Compensation, Aggregate Disclosures:
Share grants in period (in shares)		73,636
Stock Options
Share-based Compensation, Aggregate Disclosures:
Stock options granted (in shares)		249,875
Stock options granted, exercise price (in USD per share)		$ 39.98
Restricted Stock Units (RSUs)
Share-based Compensation, Aggregate Disclosures:
Share grants in period (in shares)		907			179,700	220,300
Restricted Stock Units (RSUs) | Director [Member]
Share-based Compensation, Aggregate Disclosures:
Share grants in period (in shares)	3,732
Number of securities into which each RSU may be converted	1
Long-term Equity Incentive Plan, 2005
Share-based Compensation, Aggregate Disclosures:
Number of shares authorized for grant under 2005 Long-Term Equity Incentive Plans (in shares)			5,000,000
Number of additional shares authorized (in shares)				1,800,000
Long-term Incentive Plan, 2020
Share-based Compensation, Aggregate Disclosures:
Common Stock, Capital Shares Reserved for Future Issuance	2,827,210
Number of new shares for future issuance under 2020 Long-Term Incentive Plans (in shares)	2,000,000
Number of unissued shares reserved for 2020 Long-Term Incentive Plans (in shares)	827,210

Share-Based Compensation (Stock

Share-Based Compensation (Stock Based Compensation Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Pre-tax share-based compensation costs charged against income	$ 2,892	$ 2,521	$ 4,356	$ 3,902
Income tax benefit recognized on compensation costs	451	401	563	611
Total fair value of options and RSUs vested during the period	1,015	1,266	6,796	7,365
Cash received from the exercise of stock options	69	269	1,285	544
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises	$ 4	$ 48	$ 948	$ 482

Share-Based Compensation (Restr

Share-Based Compensation (Restricted Stock Units Activity) (Details) - Restricted Stock Units (RSUs)	May 04, 2020shares	Sep. 30, 2020$ / sharesshares	Sep. 30, 2019$ / sharesshares
Shares
Outstanding, beginning of period (in shares) | shares		512,100	413,000
Granted (in shares) | shares	907	179,700	220,300
Vested and issued (in shares) | shares		(74,000)	(66,800)
Forfeited (in shares) | shares		(4,700)	(27,800)
Outstanding, end of period (in shares) | shares		613,100	538,700
Vested, end of period (in shares) | shares		150,400	138,300
Weighted Average Grant-Date Fair Value
Outstanding, beginning of period, weighted-average grant-date fair value (in USD per share) | $ / shares		$ 32.49	$ 36.58
Granted, weighted-average grant-date fair value (in USD per share) | $ / shares		39.82	31.02
Vested and issued, weighted-average grant-date fair value (in USD per share) | $ / shares		44.38	47.99
Forfeited, weighted-average grant-date fair value (in USD per share) | $ / shares		56.11	36.71
Outstanding, end of period, weighted-average grant-date fair value (in USD per share) | $ / shares		33.02	32.88
Vested, end of period, weighted-average grant-date fair value (in USD per share) | $ / shares		$ 31.98	$ 31.71

Share-Based Compensation (Sto_2

Share-Based Compensation (Stock Option Valuation Assumptions) (Details) - Stock Options - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividends	$ 0	$ 0
Risk-free rate	0.50%
Granted, weighted-average grant-date fair value (in USD per share)	$ 12.91	$ 10.83
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	32.10%	30.90%
Expected term in years	6 years	6 years
Risk-free rate		2.30%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	32.20%	31.30%
Expected term in years	7 years	7 years
Risk-free rate		2.40%

Share-Based Compensation (Sto_3

Share-Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Shares
Outstanding, beginning of period (in shares)	1,020,200	944,600
Granted (in shares)	249,900	302,700
Exercised (in shares)	(62,800)	(18,400)
Forfeited or expired (in shares)	0	(124,700)
Outstanding, end of period (in shares)	1,207,300	1,104,200
Exercisable, end of period (in shares)	699,100	610,200
Weighted Average Exercise Price
Outstanding, beginning of period, weighted-average exercise price (in USD per share)	$ 35.90	$ 38.45
Granted, weighted-average exercise price (in USD per share)	39.98	30.53
Exercised, weighted-average exercise price (in USD per share)	20.46	29.57
Forfeited or expired, weighted-average exercise price (in USD per share)	0	43.08
Outstanding, end of period, weighted-average exercise price (in USD per share)	37.55	35.90
Exercisable, end of period, weighted-average exercise price (in USD per share)	$ 39.39	$ 38.56
Options, Additional Disclosures:
Outstanding, end of period, weighted-average remaining contractual term	7 years	7 years 2 months 12 days
Exercisable, end of period, weighted-average remaining contractual term	5 years 7 months 6 days	5 years 8 months 12 days
Outstanding, end of period, aggregate intrinsic value	$ 5,032	$ 3,959
Exercisable, end of period, aggregate intrinsic value	$ 3,430	$ 2,772

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	14.10%	24.50%	19.80%	25.40%
Effective income tax rate reconciliation, tax credit, foreign, amount	$ 5.1

Employee Retirement Plans (Expe

Employee Retirement Plans (Expected Return on Plan Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Interest cost	$ 525	$ 577	$ 1,050	$ 1,154
Expected return on assets	(647)	(721)	(1,294)	(1,442)
Net periodic benefit income	$ (122)	$ (144)	$ (244)	$ (288)

Employee Retirement Plans (Narr

Employee Retirement Plans (Narrative) (Details)	6 Months Ended
	Sep. 30, 2020USD ($)
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	0
Expected employer contributions, remainder of fiscal year	$ 1,000,000

Concentrations of Risk (Details

Concentrations of Risk (Details) - manufacturer	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Concentration Risk [Line Items]
Number of third-party manufacturers	113	113	113	113
Sales | Customer Concentration Risk | Walmart
Concentration Risk [Line Items]
Concentration risk, percentage	22.50%	22.90%	22.30%	23.50%
Sales | Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage			65.40%	66.40%
Number of third-party manufacturers with long-term contracts			19	30
Top 5 brands | Sales | Product Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	45.80%	42.60%	46.20%	43.30%

Business Segments (Information

Business Segments (Information on Operating and Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information, Profit (Loss):
Total revenues	$ 237,422	$ 238,069	$ 466,816	$ 470,223
Cost of sales	99,761	101,318	195,287	199,405
Gross profit	137,661	136,751	271,529	270,818
Advertising and marketing	38,341	38,667	66,091	73,468
Contribution margin	99,320	98,084	205,438	197,350
Other operating expenses	26,417	28,736	52,416	56,516
Operating income	72,903	69,348	153,022	140,834
North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	216,575	213,878	427,233	424,662
International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	20,847	24,191	39,583	45,561
Operating Segments | North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	216,575	213,878	427,233	424,662
Cost of sales	91,069	92,931	178,896	181,742
Gross profit	125,506	120,947	248,337	242,920
Advertising and marketing	34,014	34,595	58,694	65,609
Contribution margin	91,492	86,352	189,643	177,311
Operating Segments | International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	20,847	24,191	39,583	45,561
Cost of sales	8,692	8,387	16,391	17,663
Gross profit	12,155	15,804	23,192	27,898
Advertising and marketing	4,327	4,072	7,397	7,859
Contribution margin	7,828	11,732	15,795	20,039
Intersegment Eliminations | North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	$ 600	$ 800	$ 1,600	$ 1,600

Business Segments (Revenue) (De

Business Segments (Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 237,422	$ 238,069	$ 466,816	$ 470,223
Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	30,890	29,074	59,031	57,839
Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	17,882	26,320	35,222	49,042
Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	65,598	62,583	133,439	124,580
Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	38,097	41,242	73,852	79,799
Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	29,804	25,471	55,201	55,235
Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	28,711	28,615	57,030	55,043
Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	25,078	23,502	50,423	46,133
Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,362	1,262	2,618	2,552
North American OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	216,575	213,878	427,233	424,662
North American OTC Healthcare | Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	30,623	28,831	58,490	57,366
North American OTC Healthcare | Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	14,796	20,506	28,234	37,846
North American OTC Healthcare | Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	61,492	59,678	126,902	119,256
North American OTC Healthcare | Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	31,718	32,214	61,768	63,786
North American OTC Healthcare | Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	26,767	22,286	49,619	49,039
North American OTC Healthcare | Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	27,875	28,039	55,495	53,777
North American OTC Healthcare | Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	21,944	21,063	44,110	41,042
North American OTC Healthcare | Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,360	1,261	2,615	2,550
International OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	20,847	24,191	39,583	45,561
International OTC Healthcare | Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	267	243	541	473
International OTC Healthcare | Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,086	5,814	6,988	11,196
International OTC Healthcare | Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	4,106	2,905	6,537	5,324
International OTC Healthcare | Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	6,379	9,028	12,084	16,013
International OTC Healthcare | Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,037	3,185	5,582	6,196
International OTC Healthcare | Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	836	576	1,535	1,266
International OTC Healthcare | Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,134	2,439	6,313	5,091
International OTC Healthcare | Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 2	$ 1	$ 3	$ 2

Business Segments (Revenue by G

Business Segments (Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 237,422	$ 238,069	$ 466,816	$ 470,223
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	203,289	199,714	402,635	400,343
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 34,133	$ 38,355	$ 64,181	$ 69,880

Business Segments (Goodwill and

Business Segments (Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 577,919	$ 575,179
Intangible assets
Indefinite-lived	2,276,683	2,265,331
Finite-lived, net	204,553	214,060
Intangible assets, net	2,481,236	2,479,391
Total	3,059,155	3,054,570
North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	546,643	546,643
Intangible assets
Indefinite-lived	2,195,617	2,195,617
Finite-lived, net	200,033	209,604
Intangible assets, net	2,395,650	2,405,221
Total	2,942,293	2,951,864
International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	31,276	28,536
Intangible assets
Indefinite-lived	81,066	69,714
Finite-lived, net	4,520	4,456
Intangible assets, net	85,586	74,170
Total	$ 116,862	$ 102,706