Prestige Consumer Healthcare (PBH) 10-Q 4 Feb 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Dec. 31, 2020	Jan. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 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	Q3
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		49,864,752

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues
Total revenues	$ 238,788	$ 241,552	$ 705,604	$ 711,775
Cost of Sales
Cost of sales excluding depreciation	98,260	102,900	290,623	300,318
Cost of sales depreciation	1,641	1,157	4,565	3,144
Cost of sales	99,901	104,057	295,188	303,462
Gross profit	138,887	137,495	410,416	408,313
Operating Expenses
Advertising and marketing	38,081	33,559	104,172	107,027
General and administrative	21,395	21,308	61,717	65,528
Depreciation and amortization	5,968	6,224	18,062	18,520
Total operating expenses	65,444	61,091	183,951	191,075
Operating income	73,443	76,404	226,465	217,238
Other (income) expense
Interest expense, net	20,138	24,275	63,345	73,772
Loss on extinguishment of debt	0	2,155	0	2,155
Other (income) expense, net	(371)	(580)	(620)	695
Total other expense, net	19,767	25,850	62,725	76,622
Income before income taxes	53,676	50,554	163,740	140,616
Provision for income taxes	12,803	12,496	34,572	35,381
Net income	$ 40,873	$ 38,058	$ 129,168	$ 105,235
Earnings per share:
Basic (in USD per share)	$ 0.81	$ 0.76	$ 2.57	$ 2.07
Diluted (in USD per share)	$ 0.81	$ 0.75	$ 2.55	$ 2.05
Weighted average shares outstanding:
Basic (in shares)	50,212	50,378	50,268	50,840
Diluted (in shares)	50,561	50,831	50,635	51,226
Comprehensive income, net of tax:
Currency translation adjustments	$ 8,184	$ 3,497	$ 22,439	$ (311)
Unrealized gain on interest rate swaps	1,053	0	2,347	0
Unrecognized net gain on pension plans	2,334	0	2,334	0
Net gain on pension distribution reclassified to net income	(190)	0	(190)	0
Total other comprehensive income (loss)	11,381	3,497	26,930	(311)
Comprehensive income	52,254	41,555	156,098	104,924
Net sales
Revenues
Total revenues	238,779	241,545	705,572	711,729
Other revenues
Revenues
Total revenues	$ 9	$ 7	$ 32	$ 46

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 62,103	$ 94,760
Accounts receivable, net of allowance of $19,025 and $20,194, respectively	116,004	150,517
Inventories	117,011	116,026
Prepaid expenses and other current assets	6,093	4,351
Total current assets	301,211	365,654
Property, plant and equipment, net	68,620	55,988
Operating lease right-of-use assets	24,867	28,888
Finance lease right-of-use assets, net	9,628	5,842
Goodwill	579,559	575,179
Intangible assets, net	2,481,725	2,479,391
Other long-term assets	3,159	2,963
Total Assets	3,468,769	3,513,905
Current liabilities
Accounts payable	29,114	62,375
Accrued interest payable	22,312	9,911
Operating lease liabilities, current portion	5,599	5,612
Finance lease liabilities, current portion	2,569	1,220
Other accrued liabilities	66,569	70,763
Total current liabilities	126,163	149,881
Long-term debt, net	1,548,692	1,730,300
Deferred income tax liabilities	424,364	407,812
Long-term operating lease liabilities, net of current portion	21,017	24,877
Long-term finance lease liabilities, net of current portion	7,471	4,626
Other long-term liabilities	17,841	25,438
Total Liabilities	2,145,548	2,342,934
Commitments and Contingencies — Note 16
Stockholders' Equity
Preferred stock	0	0
Common stock	539	538
Additional paid-in capital	495,383	488,116
Treasury stock, at cost - 4,033 shares at December 31, 2020 and 3,719 shares at March 31, 2020	(128,739)	(117,623)
Accumulated other comprehensive loss, net of tax	(17,231)	(44,161)
Retained earnings	973,269	844,101
Total Stockholders' Equity	1,323,221	1,170,971
Total Liabilities and Stockholders' Equity	$ 3,468,769	$ 3,513,905

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 19,025	$ 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)	53,945,000	53,805,000
Treasury stock (in shares)	4,033,000	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	$ 5,682		5,682
Exercise of stock options (in shares)	36,000	36,000
Exercise of stock options	$ 1,007		1,007
Issuance of shares related to restricted stock (in shares)		73,000
Issuance of shares related to restricted stock	0	$ 1	(1)
Treasury share repurchases (in shares)				1,654,000
Treasury share repurchases	(50,950)			$ (50,950)
Net income	105,235					105,235
Comprehensive income (loss)	(311)				(311)
Common stock, ending balance (in shares) at Dec. 31, 2019		53,779,000
Equity, ending balance at Dec. 31, 2019	1,156,494	$ 537	485,838	$ (110,878)	(26,058)	807,055
Treasury stock, ending balance (in shares) at Dec. 31, 2019				3,525,000
Common stock, beginning balance (in shares) at Sep. 30, 2019		53,755,000
Equity, beginning balance at Sep. 30, 2019	1,112,790	$ 537	483,595	$ (110,784)	(29,555)	768,997
Treasury stock, beginning balance (in shares) at Sep. 30, 2019				3,523,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,780		1,780
Exercise of stock options (in shares)		18,000
Exercise of stock options	463		463
Issuance of shares related to restricted stock (in shares)		6,000
Issuance of shares related to restricted stock	0
Treasury share repurchases (in shares)				2,000
Treasury share repurchases	(94)			$ (94)
Net income	38,058					38,058
Comprehensive income (loss)	3,497				3,497
Common stock, ending balance (in shares) at Dec. 31, 2019		53,779,000
Equity, ending balance at Dec. 31, 2019	1,156,494	$ 537	485,838	$ (110,878)	(26,058)	807,055
Treasury stock, ending balance (in shares) at Dec. 31, 2019				3,525,000
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	$ 5,944		5,944
Exercise of stock options (in shares)	65,800	66,000
Exercise of stock options	$ 1,324		1,324
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)				314,000
Treasury share repurchases	(11,116)			$ (11,116)
Net income	129,168					129,168
Comprehensive income (loss)	26,930				26,930
Common stock, ending balance (in shares) at Dec. 31, 2020		53,945,000
Equity, ending balance at Dec. 31, 2020	$ 1,323,221	$ 539	495,383	$ (128,739)	(17,231)	973,269
Treasury stock, ending balance (in shares) at Dec. 31, 2020	4,033,000			4,033,000
Common stock, beginning balance (in shares) at Sep. 30, 2020		53,941,000
Equity, beginning balance at Sep. 30, 2020	$ 1,278,217	$ 539	493,756	$ (119,862)	(28,612)	932,396
Treasury stock, beginning balance (in shares) at Sep. 30, 2020				3,779,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,588		1,588
Exercise of stock options (in shares)		4,000
Exercise of stock options	39		39
Treasury share repurchases (in shares)				254,000
Treasury share repurchases	(8,877)			$ (8,877)
Net income	40,873					40,873
Comprehensive income (loss)	11,381				11,381
Common stock, ending balance (in shares) at Dec. 31, 2020		53,945,000
Equity, ending balance at Dec. 31, 2020	$ 1,323,221	$ 539	$ 495,383	$ (128,739)	$ (17,231)	$ 973,269
Treasury stock, ending balance (in shares) at Dec. 31, 2020	4,033,000			4,033,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net income	$ 129,168	$ 105,235
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	22,627	21,664
Loss on disposal of property and equipment	210	184
Deferred income taxes	7,970	7,383
Amortization of debt origination costs	3,569	2,766
Stock-based compensation costs	5,944	5,682
Loss on extinguishment of debt	0	2,155
Non-cash operating lease cost	5,362	6,117
Other	937	34
Changes in operating assets and liabilities:
Accounts receivable	36,725	4,624
Inventories	1,269	(817)
Prepaid expenses and other current assets	(1,439)	(879)
Accounts payable	(35,789)	(6,091)
Accrued liabilities	8,236	20,724
Operating lease liabilities	(5,085)	(6,430)
Other	(3,184)	(1,353)
Net cash provided by operating activities	176,520	160,998
Investing Activities
Purchases of property, plant and equipment	(17,347)	(9,055)
Escrow receipt	0	750
Net cash used in investing activities	(17,347)	(8,305)
Financing Activities
Proceeds from issuance of 5.125% Senior Notes	0	400,000
Repayment of 5.375% Senior Notes	0	(400,000)
Term loan repayments	(130,000)	(21,000)
Borrowings under revolving credit agreement	15,000	45,000
Repayments under revolving credit agreement	(70,000)	(120,000)
Payment of debt costs	0	(5,793)
Payments of finance leases	(918)	(252)
Proceeds from exercise of stock options	1,324	1,007
Fair value of shares surrendered as payment of tax withholding	(1,242)	(974)
Repurchase of common stock	(9,874)	(49,976)
Net cash used in financing activities	(195,710)	(151,988)
Effects of exchange rate changes on cash and cash equivalents	3,880	356
(Decrease) increase in cash and cash equivalents	(32,657)	1,061
Cash and cash equivalents - beginning of period	94,760	27,530
Cash and cash equivalents - end of period	62,103	28,591
Supplemental Cash Flow Information [Abstract]
Interest paid	46,927	66,305
Income taxes paid	$ 29,677	$ 21,212
Debt instrument, stated interest rate	5.375%	5.375%

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - Parenthetical	Dec. 31, 2020	Dec. 31, 2019
Debt instrument, stated interest rate	5.375%	5.375%
2019 Senior Notes
Debt instrument, stated interest rate	5.125%	5.125%

Business and Basis of Presentat

Business and Basis of Presentation	9 Months Ended
	Dec. 31, 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 since early 2020. The COVID-19 pandemic and the corresponding government responses have also led to increased unemployment, which led to a reduction in consumer spending. Economic conditions are, and we expect that they will continue to be, highly volatile and uncertain and could continue to reduce demand for our products and put downward pressure on prices. 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. Since then, we have seen more stable consumer consumption and customer orders. Sales have 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 consumers increased their 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, we received reports of 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 have continued 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. If the outbreak continues to spread, 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. 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, and results of operations and those of the third parties on which we rely. Basis of Presentation The unaudited Condensed Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, these Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, that are considered necessary for a fair statement of our consolidated financial position, results of operations and cash flows for the interim periods presented. Our fiscal year ends on March 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 nine months ended December 31, 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 . The amendments in this update are elective and apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The amendments in this update provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. An entity may elect to apply the amendments prospectively through December 31, 2022. We are currently evaluating the impact of adopting this guidance on our Consolidated Financial Statements.

Inventories

Inventories	9 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: (In thousands) December 31, 2020 March 31, 2020 Components of Inventories Packaging and raw materials $ 8,370 $ 9,803 Work in process 321 355 Finished goods 108,320 105,868 Inventories $ 117,011 $ 116,026

Goodwill

Goodwill	9 Months Ended
	Dec. 31, 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 — 4,380 4,380 Balance - December 31, 2020 Goodwill 710,354 32,916 743,270 Accumulated impairment loss (163,711) — (163,711) Balance - December 31, 2020 $ 546,643 $ 32,916 $ 579,559 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 December 31, 2020. As of December 31, 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	9 Months Ended
	Dec. 31, 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 Tradename impairment — (1,186) (1,186) Effects of foreign currency exchange rates 17,800 752 18,552 Balance — December 31, 2020 2,283,131 389,367 2,672,498 Accumulated Amortization Balance — March 31, 2020 — 175,741 175,741 Additions — 14,729 14,729 Effects of foreign currency exchange rates — 303 303 Balance — December 31, 2020 — 190,773 190,773 Intangible assets, net - December 31, 2020 $ 2,283,131 $ 198,594 $ 2,481,725 Amortization expense was $4.9 million and $14.7 million for the three and nine months ended December 31, 2020, respectively, and $4.9 million and $14.7 million for the three and nine months ended December 31, 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 three months ended March 31, 2021) $ 4,917 2022 19,670 2023 19,670 2024 19,637 2025 17,592 Thereafter 117,108 $ 198,594 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. During the third quarter of 2021, we determined that the fair value of one of our finite-lived intangible assets in our International OTC Healthcare segment, Painstop , did not exceed its carrying amount. As such, we recorded an impairment charge of $1.2 million. The decline in the fair value of Painstop was primarily related to a decline in expected future sales due to a regulatory change that now requires Painstop to be prescribed by physicians rather than sold over-the-counter direct to consumers . We continuously monitor events which could trigger an interim impairment analysis, which included the impact of COVID-19 for the period ended December 31, 2020. As of December 31, 2020, no other events have occurred that would indicate potential additional 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	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2020 and 2019 were as follows: Three Months Ended December 31, Nine Months Ended December 31, (In thousands) 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 629 $ 207 $ 1,397 $ 207 Interest on lease liabilities 76 34 185 34 Operating lease cost 1,679 2,239 5,068 5,697 Short term lease cost 24 28 69 78 Variable lease cost 11,220 15,731 35,230 48,396 Sublease income (54) (833) (163) (2,607) Total net lease cost $ 13,574 $ 17,406 $ 41,786 $ 51,805 As of December 31, 2020, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining three months ending March 31, 2021) $ 1,983 $ 706 $ 2,689 2022 6,557 2,826 9,383 2023 6,293 2,826 9,119 2024 6,303 2,826 9,129 2025 4,132 1,412 5,544 Thereafter 4,974 — 4,974 Total undiscounted lease payments 30,242 10,596 40,838 Less amount of lease payments representing interest (3,626) (556) (4,182) Total present value of lease payments $ 26,616 $ 10,040 $ 36,656 The weighted average remaining lease term and weighted average discount rate were as follows: December 31, 2020 Weighted average remaining lease term (years) Operating leases 4.88 Finance leases 3.75 Weighted average discount rate Operating leases 5.28 % Finance leases 2.98 %
Leases	Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three and nine months ended December 31, 2020 and 2019 were as follows: Three Months Ended December 31, Nine Months Ended December 31, (In thousands) 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 629 $ 207 $ 1,397 $ 207 Interest on lease liabilities 76 34 185 34 Operating lease cost 1,679 2,239 5,068 5,697 Short term lease cost 24 28 69 78 Variable lease cost 11,220 15,731 35,230 48,396 Sublease income (54) (833) (163) (2,607) Total net lease cost $ 13,574 $ 17,406 $ 41,786 $ 51,805 As of December 31, 2020, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining three months ending March 31, 2021) $ 1,983 $ 706 $ 2,689 2022 6,557 2,826 9,383 2023 6,293 2,826 9,119 2024 6,303 2,826 9,129 2025 4,132 1,412 5,544 Thereafter 4,974 — 4,974 Total undiscounted lease payments 30,242 10,596 40,838 Less amount of lease payments representing interest (3,626) (556) (4,182) Total present value of lease payments $ 26,616 $ 10,040 $ 36,656 The weighted average remaining lease term and weighted average discount rate were as follows: December 31, 2020 Weighted average remaining lease term (years) Operating leases 4.88 Finance leases 3.75 Weighted average discount rate Operating leases 5.28 % Finance leases 2.98 %

Other Accrued Liabilities

Other Accrued Liabilities	9 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consist of the following: (In thousands) December 31, 2020 March 31, 2020 Accrued marketing costs $ 40,377 $ 34,450 Accrued compensation costs 10,901 13,393 Accrued broker commissions 479 1,491 Income taxes payable 294 3,210 Accrued professional fees 3,647 4,183 Accrued production costs 3,229 5,628 Accrued sales tax 228 1,917 Other accrued liabilities 7,414 6,491 $ 66,569 $ 70,763

Long-Term Debt

Long-Term Debt	9 Months Ended
	Dec. 31, 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) December 31, 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 (11,308) (14,700) Long-term debt, net $ 1,548,692 $ 1,730,300 At December 31, 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 $123.3 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 December 31, 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 three months ending March 31, 2021) $ — 2022 — 2023 — 2024 1,160,000 2025 — Thereafter 400,000 $ 1,560,000

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 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 December 31, 2020 and March 31, 2020. December 31, 2020 March 31, 2020 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2016 Senior Notes $ 600,000 $ 613,500 $ 600,000 $ 603,000 2019 Senior Notes 400,000 421,000 400,000 386,000 2012 Term B-5 Loans 560,000 560,700 690,000 638,250 2012 ABL Revolver — — 55,000 55,000 Interest rate swaps 3,269 3,269 6,317 6,317

Derivative Instruments

Derivative Instruments	9 Months Ended
	Dec. 31, 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 our 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: December 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 $ (224) $ — Interest rate swap Cash flow 1/31/2022 $ 200,000 — (3,045) Total fair value $ (224) $ (3,045) 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 December 31, Nine Months Ended December 31, (In thousands) Location 2020 2019 2020 2019 Gain Recognized in Other Comprehensive Loss (effective portion) Other comprehensive income (loss) $ 1,053 $ — $ 2,347 $ — Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Interest expense $ — $ — $ — $ — Loss Recognized as Expense Interest expense $ (1,415) $ — $ (3,837) $ — We expect pre-tax losses of $3.0 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	9 Months Ended
	Dec. 31, 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 December 31, 2020. During the three and nine months ended December 31, 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 December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Shares repurchased pursuant to the provisions of the various employee restricted stock awards: Number of shares — 2,481 31,117 31,018 Average price per share $ — $37.95 $39.91 $31.39 Total amount repurchased $ — $0.1 million $1.2 million $1.0 million Shares repurchased in conjunction with our share repurchase program: Number of shares 253,771 — 282,636 1,622,544 Average price per share $34.98 $ — $34.93 $30.80 Total amount repurchased $8.9 million $ — $9.9 million $50.0 million

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following at December 31, 2020 and March 31, 2020: (In thousands) December 31, 2020 March 31, 2020 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (16,802) $ (39,241) Unrealized loss on interest rate swaps, net of tax of $752 and $1,453, respectively (2,517) (4,864) Unrecognized net gain (loss) on pension plans, net of tax of $(624) and $17, respectively 2,088 (56) Accumulated other comprehensive loss, net of tax $ (17,231) $ (44,161)

Earnings Per Share

Earnings Per Share	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, (In thousands, except per share data) 2020 2019 2020 2019 Numerator Net income $ 40,873 $ 38,058 $ 129,168 $ 105,235 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,212 50,378 50,268 50,840 Dilutive effect of unvested restricted stock units and options issued to employees and directors 349 453 367 386 Denominator for diluted earnings per share 50,561 50,831 50,635 51,226 Earnings per Common Share: Basic earnings per share $ 0.81 $ 0.76 $ 2.57 $ 2.07 Diluted earnings per share $ 0.81 $ 0.75 $ 2.55 $ 2.05

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, (In thousands) 2020 2019 2020 2019 Pre-tax share-based compensation costs charged against income $ 1,588 $ 1,780 $ 5,944 $ 5,682 Income tax benefit recognized on compensation costs $ 263 $ 275 $ 826 $ 886 Total fair value of options and RSUs vested during the period $ — $ 465 $ 6,796 $ 7,830 Cash received from the exercise of stock options $ 39 $ 463 $ 1,324 $ 1,007 Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises $ 15 $ 105 $ 963 $ 587 At December 31, 2020, there were $7.9 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 December 31, 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 Nine Months Ended December 31, 2019 Vested and unvested at March 31, 2019 413.0 $ 36.58 Granted 220.3 31.02 Vested and issued (73.0) 47.68 Forfeited (34.2) 35.97 Vested and unvested at December 31, 2019 526.1 32.74 Vested at December 31, 2019 138.3 31.71 Nine Months Ended December 31, 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 December 31, 2020 613.1 33.02 Vested at December 31, 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: Nine Months Ended December 31, 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 Nine Months Ended December 31, 2019 Outstanding at March 31, 2019 944.6 $ 38.45 Granted 302.7 30.53 Exercised (36.0) 27.96 Forfeited or expired (155.3) 41.18 Outstanding at December 31, 2019 1,056.0 36.14 6.9 $ 9,035 Vested at December 31, 2019 602.0 38.90 5.4 $ 4,756 Nine Months Ended December 31, 2020 Outstanding at March 31, 2020 1,020.2 $ 35.90 Granted 249.9 39.98 Exercised (65.8) 20.14 Forfeited or expired — — Outstanding at December 31, 2020 1,204.3 37.61 6.8 $ 3,987 Vested at December 31, 2020 696.2 39.50 5.4 $ 2,786 The aggregate intrinsic value of options exercised during the nine months ended December 31, 2020 was $1.3 million.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 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 23.9% and 24.7% for the three months ended December 31, 2020 and 2019, respectively. The effective tax rates used in the calculation of income taxes were 21.1% and 25.2% for the nine months ended December 31, 2020 and 2019, respectively. The decrease in the effective tax rate for the nine months ended December 31, 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	9 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Employee Retirement Plans	Employee Retirement Plans The primary components of Net Periodic Benefits consist of the following: Three Months Ended December 31, Nine Months Ended December 31, (In thousands) 2020 2019 2020 2019 Interest cost $ 283 $ 575 $ 1,333 $ 1,729 Expected return on assets (653) (722) (1,947) (2,164) Net periodic benefit income $ (370) $ (147) $ (614) $ (435) During the nine months ended December 31, 2020, we contributed $0.3 million to our non-qualified defined benefit plan and $3.0 million to the qualified defined benefit plan. During the remainder of fiscal 2021, we expect to contribute an additional $0.1 million to our non-qualified plan and make no further contribution to the qualified plan. During the third quarter of 2021, we offered participants of our qualified defined benefit plan the option to receive a lump sum payout of their benefits. The amount paid out of plan assets during the third quarter of 2021 to those who elected to take the lump sum payout was $7.0 million and we recognized a settlement gain of $0.2 million as a result of the payout.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2020, approximately 43.6% and 45.6%, respectively, of our gross revenues were derived from our five top selling brands. During the three and nine months ended December 31, 2019, approximately 41.7% and 42.8%, 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 nine months ended December 31, 2020. Walmart accounted for approximately 20.7% and 21.7%, respectively, of our gross revenues for the three and nine months ended December 31, 2020. Walmart accounted for approximately 23.2% and 23.4%, respectively, of our gross revenues for the three and nine months ended December 31, 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 December 31, 2020, we had relationships with 113 third party manufacturers. Of those, we had long-term contracts with 18 manufacturers that produced items that accounted for approximately 68.9% of gross sales for the nine months ended December 31, 2020. At December 31, 2019, we had relationships with 113 third party manufacturers. Of those, we had long-

Business Segments

Business Segments	9 Months Ended
	Dec. 31, 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 December 31, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 210,618 $ 28,170 $ 238,788 Cost of sales 88,883 11,018 99,901 Gross profit 121,735 17,152 138,887 Advertising and marketing 32,859 5,222 38,081 Contribution margin $ 88,876 $ 11,930 100,806 Other operating expenses 27,363 Operating income $ 73,443 * Intersegment revenues of $0.8 million were eliminated from the North American OTC Healthcare segment. Nine Months Ended December 31, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 637,851 $ 67,753 $ 705,604 Cost of sales 267,779 27,409 295,188 Gross profit 370,072 40,344 410,416 Advertising and marketing 91,553 12,619 104,172 Contribution margin $ 278,519 $ 27,725 306,244 Other operating expenses 79,779 Operating income $ 226,465 * Intersegment revenues of $2.4 million were eliminated from the North American OTC Healthcare segment. Three Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 214,892 $ 26,660 $ 241,552 Cost of sales 93,937 10,120 104,057 Gross profit 120,955 16,540 137,495 Advertising and marketing 29,025 4,534 33,559 Contribution margin $ 91,930 $ 12,006 103,936 Other operating expenses 27,532 Operating income $ 76,404 * Intersegment revenues of $0.6 million were eliminated from the North American OTC Healthcare segment. Nine Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 639,554 $ 72,221 $ 711,775 Cost of sales 275,679 27,783 303,462 Gross profit 363,875 44,438 408,313 Advertising and marketing 94,634 12,393 107,027 Contribution margin $ 269,241 $ 32,045 301,286 Other operating expenses 84,048 Operating income $ 217,238 * Intersegment revenues of $2.1 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 December 31, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 29,427 $ 423 $ 29,850 Cough & Cold 16,871 3,877 20,748 Women's Health 60,257 4,229 64,486 Gastrointestinal 31,886 13,436 45,322 Eye & Ear Care 23,166 2,326 25,492 Dermatologicals 24,602 791 25,393 Oral Care 22,907 3,086 25,993 Other OTC 1,502 2 1,504 Total segment revenues $ 210,618 $ 28,170 $ 238,788 Nine Months Ended December 31, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 87,917 $ 964 $ 88,881 Cough & Cold 45,105 10,865 55,970 Women's Health 187,159 10,766 197,925 Gastrointestinal 93,654 25,520 119,174 Eye & Ear Care 72,785 7,908 80,693 Dermatologicals 80,097 2,326 82,423 Oral Care 67,017 9,399 76,416 Other OTC 4,117 5 4,122 Total segment revenues $ 637,851 $ 67,753 $ 705,604 Three Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Analgesics $ 28,330 $ 175 $ 28,505 Cough & Cold 25,221 4,742 29,963 Women's Health 58,576 3,543 62,119 Gastrointestinal 32,645 12,097 44,742 Eye & Ear Care 24,095 3,159 27,254 Dermatologicals 23,286 598 23,884 Oral Care 21,451 2,344 23,795 Other OTC 1,288 2 1,290 Total segment revenues $ 214,892 $ 26,660 $ 241,552 Nine Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Analgesics $ 85,696 $ 648 $ 86,344 Cough & Cold 63,067 15,938 79,005 Women's Health 177,832 8,867 186,699 Gastrointestinal 96,431 28,110 124,541 Eye & Ear Care 73,134 9,355 82,489 Dermatologicals 77,063 1,864 78,927 Oral Care 62,493 7,435 69,928 Other OTC 3,838 4 3,842 Total segment revenues $ 639,554 $ 72,221 $ 711,775 Our total segment revenues by geographic area are as follows: Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 United States $ 197,296 $ 203,920 $ 599,931 $ 604,263 Rest of world 41,492 37,632 105,673 107,512 Total $ 238,788 $ 241,552 $ 705,604 $ 711,775 Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows: December 31, 2020 North American OTC International OTC Consolidated (In thousands) Goodwill $ 546,643 $ 32,916 $ 579,559 Intangible assets Indefinite-lived 2,195,617 87,514 2,283,131 Finite-lived, net 195,248 3,346 198,594 Intangible assets, net 2,390,865 90,860 2,481,725 Total $ 2,937,508 $ 123,776 $ 3,061,284 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)	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 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 . The amendments in this update are elective and apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The amendments in this update provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. An entity may elect to apply the amendments prospectively through December 31, 2022. We are currently evaluating the impact of adopting this guidance on our Consolidated Financial Statements.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following: (In thousands) December 31, 2020 March 31, 2020 Components of Inventories Packaging and raw materials $ 8,370 $ 9,803 Work in process 321 355 Finished goods 108,320 105,868 Inventories $ 117,011 $ 116,026

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Dec. 31, 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 — 4,380 4,380 Balance - December 31, 2020 Goodwill 710,354 32,916 743,270 Accumulated impairment loss (163,711) — (163,711) Balance - December 31, 2020 $ 546,643 $ 32,916 $ 579,559

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	9 Months Ended
	Dec. 31, 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 Tradename impairment — (1,186) (1,186) Effects of foreign currency exchange rates 17,800 752 18,552 Balance — December 31, 2020 2,283,131 389,367 2,672,498 Accumulated Amortization Balance — March 31, 2020 — 175,741 175,741 Additions — 14,729 14,729 Effects of foreign currency exchange rates — 303 303 Balance — December 31, 2020 — 190,773 190,773 Intangible assets, net - December 31, 2020 $ 2,283,131 $ 198,594 $ 2,481,725
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 Tradename impairment — (1,186) (1,186) Effects of foreign currency exchange rates 17,800 752 18,552 Balance — December 31, 2020 2,283,131 389,367 2,672,498 Accumulated Amortization Balance — March 31, 2020 — 175,741 175,741 Additions — 14,729 14,729 Effects of foreign currency exchange rates — 303 303 Balance — December 31, 2020 — 190,773 190,773 Intangible assets, net - December 31, 2020 $ 2,283,131 $ 198,594 $ 2,481,725
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 three months ended March 31, 2021) $ 4,917 2022 19,670 2023 19,670 2024 19,637 2025 17,592 Thereafter 117,108 $ 198,594

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Components of Lease Expense	The components of lease expense for the three and nine months ended December 31, 2020 and 2019 were as follows: Three Months Ended December 31, Nine Months Ended December 31, (In thousands) 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 629 $ 207 $ 1,397 $ 207 Interest on lease liabilities 76 34 185 34 Operating lease cost 1,679 2,239 5,068 5,697 Short term lease cost 24 28 69 78 Variable lease cost 11,220 15,731 35,230 48,396 Sublease income (54) (833) (163) (2,607) Total net lease cost $ 13,574 $ 17,406 $ 41,786 $ 51,805 The weighted average remaining lease term and weighted average discount rate were as follows: December 31, 2020 Weighted average remaining lease term (years) Operating leases 4.88 Finance leases 3.75 Weighted average discount rate Operating leases 5.28 % Finance leases 2.98 %
Maturities of Operating Leases	(In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining three months ending March 31, 2021) $ 1,983 $ 706 $ 2,689 2022 6,557 2,826 9,383 2023 6,293 2,826 9,119 2024 6,303 2,826 9,129 2025 4,132 1,412 5,544 Thereafter 4,974 — 4,974 Total undiscounted lease payments 30,242 10,596 40,838 Less amount of lease payments representing interest (3,626) (556) (4,182) Total present value of lease payments $ 26,616 $ 10,040 $ 36,656
Maturities of Finance Leases	(In thousands) Year Ending March 31, Operating Leases Finance Total 2021 (Remaining three months ending March 31, 2021) $ 1,983 $ 706 $ 2,689 2022 6,557 2,826 9,383 2023 6,293 2,826 9,119 2024 6,303 2,826 9,129 2025 4,132 1,412 5,544 Thereafter 4,974 — 4,974 Total undiscounted lease payments 30,242 10,596 40,838 Less amount of lease payments representing interest (3,626) (556) (4,182) Total present value of lease payments $ 26,616 $ 10,040 $ 36,656

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	9 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other accrued liabilities consist of the following: (In thousands) December 31, 2020 March 31, 2020 Accrued marketing costs $ 40,377 $ 34,450 Accrued compensation costs 10,901 13,393 Accrued broker commissions 479 1,491 Income taxes payable 294 3,210 Accrued professional fees 3,647 4,183 Accrued production costs 3,229 5,628 Accrued sales tax 228 1,917 Other accrued liabilities 7,414 6,491 $ 66,569 $ 70,763

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Dec. 31, 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) December 31, 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 (11,308) (14,700) Long-term debt, net $ 1,548,692 $ 1,730,300
Aggregate Future Principal Payments	As of December 31, 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 three 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)	9 Months Ended
	Dec. 31, 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 December 31, 2020 and March 31, 2020. December 31, 2020 March 31, 2020 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2016 Senior Notes $ 600,000 $ 613,500 $ 600,000 $ 603,000 2019 Senior Notes 400,000 421,000 400,000 386,000 2012 Term B-5 Loans 560,000 560,700 690,000 638,250 2012 ABL Revolver — — 55,000 55,000 Interest rate swaps 3,269 3,269 6,317 6,317

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Dec. 31, 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: December 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 $ (224) $ — Interest rate swap Cash flow 1/31/2022 $ 200,000 — (3,045) Total fair value $ (224) $ (3,045) 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 December 31, Nine Months Ended December 31, (In thousands) Location 2020 2019 2020 2019 Gain Recognized in Other Comprehensive Loss (effective portion) Other comprehensive income (loss) $ 1,053 $ — $ 2,347 $ — Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Interest expense $ — $ — $ — $ — Loss Recognized as Expense Interest expense $ (1,415) $ — $ (3,837) $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Class of Treasury Stock	Our share repurchases consisted of the following: Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Shares repurchased pursuant to the provisions of the various employee restricted stock awards: Number of shares — 2,481 31,117 31,018 Average price per share $ — $37.95 $39.91 $31.39 Total amount repurchased $ — $0.1 million $1.2 million $1.0 million Shares repurchased in conjunction with our share repurchase program: Number of shares 253,771 — 282,636 1,622,544 Average price per share $34.98 $ — $34.93 $30.80 Total amount repurchased $8.9 million $ — $9.9 million $50.0 million

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consisted of the following at December 31, 2020 and March 31, 2020: (In thousands) December 31, 2020 March 31, 2020 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (16,802) $ (39,241) Unrealized loss on interest rate swaps, net of tax of $752 and $1,453, respectively (2,517) (4,864) Unrecognized net gain (loss) on pension plans, net of tax of $(624) and $17, respectively 2,088 (56) Accumulated other comprehensive loss, net of tax $ (17,231) $ (44,161)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, (In thousands, except per share data) 2020 2019 2020 2019 Numerator Net income $ 40,873 $ 38,058 $ 129,168 $ 105,235 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,212 50,378 50,268 50,840 Dilutive effect of unvested restricted stock units and options issued to employees and directors 349 453 367 386 Denominator for diluted earnings per share 50,561 50,831 50,635 51,226 Earnings per Common Share: Basic earnings per share $ 0.81 $ 0.76 $ 2.57 $ 2.07 Diluted earnings per share $ 0.81 $ 0.75 $ 2.55 $ 2.05

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Compensation Expense Information	The following table provides information regarding our stock-based compensation: Three Months Ended December 31, Nine Months Ended December 31, (In thousands) 2020 2019 2020 2019 Pre-tax share-based compensation costs charged against income $ 1,588 $ 1,780 $ 5,944 $ 5,682 Income tax benefit recognized on compensation costs $ 263 $ 275 $ 826 $ 886 Total fair value of options and RSUs vested during the period $ — $ 465 $ 6,796 $ 7,830 Cash received from the exercise of stock options $ 39 $ 463 $ 1,324 $ 1,007 Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises $ 15 $ 105 $ 963 $ 587
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 Nine Months Ended December 31, 2019 Vested and unvested at March 31, 2019 413.0 $ 36.58 Granted 220.3 31.02 Vested and issued (73.0) 47.68 Forfeited (34.2) 35.97 Vested and unvested at December 31, 2019 526.1 32.74 Vested at December 31, 2019 138.3 31.71 Nine Months Ended December 31, 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 December 31, 2020 613.1 33.02 Vested at December 31, 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: Nine Months Ended December 31, 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 Nine Months Ended December 31, 2019 Outstanding at March 31, 2019 944.6 $ 38.45 Granted 302.7 30.53 Exercised (36.0) 27.96 Forfeited or expired (155.3) 41.18 Outstanding at December 31, 2019 1,056.0 36.14 6.9 $ 9,035 Vested at December 31, 2019 602.0 38.90 5.4 $ 4,756 Nine Months Ended December 31, 2020 Outstanding at March 31, 2020 1,020.2 $ 35.90 Granted 249.9 39.98 Exercised (65.8) 20.14 Forfeited or expired — — Outstanding at December 31, 2020 1,204.3 37.61 6.8 $ 3,987 Vested at December 31, 2020 696.2 39.50 5.4 $ 2,786

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, (In thousands) 2020 2019 2020 2019 Interest cost $ 283 $ 575 $ 1,333 $ 1,729 Expected return on assets (653) (722) (1,947) (2,164) Net periodic benefit income $ (370) $ (147) $ (614) $ (435)

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Information about our Operating and Reportable Segments	The tables below summarize information about our reportable segments. Three Months Ended December 31, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 210,618 $ 28,170 $ 238,788 Cost of sales 88,883 11,018 99,901 Gross profit 121,735 17,152 138,887 Advertising and marketing 32,859 5,222 38,081 Contribution margin $ 88,876 $ 11,930 100,806 Other operating expenses 27,363 Operating income $ 73,443 * Intersegment revenues of $0.8 million were eliminated from the North American OTC Healthcare segment. Nine Months Ended December 31, 2020 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 637,851 $ 67,753 $ 705,604 Cost of sales 267,779 27,409 295,188 Gross profit 370,072 40,344 410,416 Advertising and marketing 91,553 12,619 104,172 Contribution margin $ 278,519 $ 27,725 306,244 Other operating expenses 79,779 Operating income $ 226,465 * Intersegment revenues of $2.4 million were eliminated from the North American OTC Healthcare segment. Three Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 214,892 $ 26,660 $ 241,552 Cost of sales 93,937 10,120 104,057 Gross profit 120,955 16,540 137,495 Advertising and marketing 29,025 4,534 33,559 Contribution margin $ 91,930 $ 12,006 103,936 Other operating expenses 27,532 Operating income $ 76,404 * Intersegment revenues of $0.6 million were eliminated from the North American OTC Healthcare segment. Nine Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 639,554 $ 72,221 $ 711,775 Cost of sales 275,679 27,783 303,462 Gross profit 363,875 44,438 408,313 Advertising and marketing 94,634 12,393 107,027 Contribution margin $ 269,241 $ 32,045 301,286 Other operating expenses 84,048 Operating income $ 217,238 * Intersegment revenues of $2.1 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 December 31, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 29,427 $ 423 $ 29,850 Cough & Cold 16,871 3,877 20,748 Women's Health 60,257 4,229 64,486 Gastrointestinal 31,886 13,436 45,322 Eye & Ear Care 23,166 2,326 25,492 Dermatologicals 24,602 791 25,393 Oral Care 22,907 3,086 25,993 Other OTC 1,502 2 1,504 Total segment revenues $ 210,618 $ 28,170 $ 238,788 Nine Months Ended December 31, 2020 (In thousands) North American OTC International OTC Consolidated Analgesics $ 87,917 $ 964 $ 88,881 Cough & Cold 45,105 10,865 55,970 Women's Health 187,159 10,766 197,925 Gastrointestinal 93,654 25,520 119,174 Eye & Ear Care 72,785 7,908 80,693 Dermatologicals 80,097 2,326 82,423 Oral Care 67,017 9,399 76,416 Other OTC 4,117 5 4,122 Total segment revenues $ 637,851 $ 67,753 $ 705,604 Three Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Analgesics $ 28,330 $ 175 $ 28,505 Cough & Cold 25,221 4,742 29,963 Women's Health 58,576 3,543 62,119 Gastrointestinal 32,645 12,097 44,742 Eye & Ear Care 24,095 3,159 27,254 Dermatologicals 23,286 598 23,884 Oral Care 21,451 2,344 23,795 Other OTC 1,288 2 1,290 Total segment revenues $ 214,892 $ 26,660 $ 241,552 Nine Months Ended December 31, 2019 (In thousands) North American OTC International OTC Consolidated Analgesics $ 85,696 $ 648 $ 86,344 Cough & Cold 63,067 15,938 79,005 Women's Health 177,832 8,867 186,699 Gastrointestinal 96,431 28,110 124,541 Eye & Ear Care 73,134 9,355 82,489 Dermatologicals 77,063 1,864 78,927 Oral Care 62,493 7,435 69,928 Other OTC 3,838 4 3,842 Total segment revenues $ 639,554 $ 72,221 $ 711,775
Information about our Segment Revenues by Geographic Area	Our total segment revenues by geographic area are as follows: Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 United States $ 197,296 $ 203,920 $ 599,931 $ 604,263 Rest of world 41,492 37,632 105,673 107,512 Total $ 238,788 $ 241,552 $ 705,604 $ 711,775
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: December 31, 2020 North American OTC International OTC Consolidated (In thousands) Goodwill $ 546,643 $ 32,916 $ 579,559 Intangible assets Indefinite-lived 2,195,617 87,514 2,283,131 Finite-lived, net 195,248 3,346 198,594 Intangible assets, net 2,390,865 90,860 2,481,725 Total $ 2,937,508 $ 123,776 $ 3,061,284 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	Dec. 31, 2020	Mar. 31, 2020
Inventory Disclosure [Abstract]
Packaging and raw materials	$ 8,370	$ 9,803
Work in process	321	355
Finished goods	108,320	105,868
Inventories	117,011	116,026
Inventory valuation reserves related to obsolete and slow-moving inventory	$ 4,100	$ 6,500

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 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	4,380
Goodwill	743,270
Goodwill, net	579,559
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	4,380
Goodwill	32,916
Goodwill, net	$ 32,916

Intangible Assets, net - Activi

Intangible Assets, net - Activity Affecting Intangible Assets (Details) - USD ($)	3 Months Ended			9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Indefinite-Lived Intangible Assets [Abstract]
Indefinite-lived trademarks, beginning balance				$ 2,265,331,000
Indefinite-lived trademarks, ending balance	$ 2,283,131,000	$ 2,265,331,000		2,283,131,000
Finite-Lived Intangible Assets, Gross [Abstract]
Finite-lived trademarks and customer relationships, impairment of intangible assets, finite-lived	(1,200,000)
Intangible Assets, Gross [Abstract]
Totals, gross, beginning balance				2,655,132,000
Impairment of intangible assets		0		(1,186,000)
Intangible Assets, Translation Adjustments Gain (Loss)				18,552,000
Totals, gross, ending balance	2,672,498,000	2,655,132,000		2,672,498,000
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance				175,741,000
Accumulated amortization, additions	4,900,000		$ 4,900,000	14,729,000	$ 14,700,000
Accumulated amortization, effects of foreign exchange rates				303,000
Accumulated amortization, ending balance	190,773,000	175,741,000		190,773,000
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived, net	198,594,000	214,060,000		198,594,000
Intangible Assets, Net [Abstract]
Intangible assets, net	2,481,725,000	2,479,391,000		2,481,725,000
Finite-Lived Trademarks and Customer Relationships
Finite-Lived Intangible Assets, Gross [Abstract]
Finite-lived trademarks and customer relationships, beginning balance				389,801,000
Finite-lived trademarks and customer relationships, impairment of intangible assets, finite-lived				(1,186,000)
Finite-lived trademarks and customer relationships, effects of foreign currency exchange rate				752,000
Finite-lived trademarks and customer relationships, ending balance	389,367,000	389,801,000		389,367,000
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance				175,741,000
Accumulated amortization, additions				14,729,000
Accumulated amortization, effects of foreign exchange rates				303,000
Accumulated amortization, ending balance	190,773,000	175,741,000		190,773,000
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived, net	198,594,000			198,594,000
Indefinite- Lived Trademarks
Indefinite-Lived Intangible Assets [Abstract]
Indefinite-lived trademarks, beginning balance				2,265,331,000
Indefinite lived trademarks, effects of foreign currency exchange rate				17,800,000
Indefinite-lived trademarks, ending balance	$ 2,283,131,000	$ 2,265,331,000		$ 2,283,131,000

Intangible Assets, net - Narrat

Intangible Assets, net - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 4,900,000		$ 4,900,000	$ 14,729,000	$ 14,700,000
Impairment of intangible assets		$ 0		$ 1,186,000
Impairment of finite-lived intangible assets	$ 1,200,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life				10 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life				30 years

Intangible Assets, net - Future

Intangible Assets, net - Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of the year	$ 4,917
2022	19,670
2023	19,670
2024	19,637
2025	17,592
Thereafter	117,108
Finite-lived intangible assets, net	$ 198,594	$ 214,060

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Amortization of right-of-use assets	$ 629	$ 207	$ 1,397	$ 207
Interest on lease liabilities	76	34	185	34
Operating lease cost	1,679	2,239	5,068	5,697
Short term lease cost	24	28	69	78
Variable lease cost	11,220	15,731	35,230	48,396
Sublease income	(54)	(833)	(163)	(2,607)
Total net lease cost	$ 13,574	$ 17,406	$ 41,786	$ 51,805

Leases (Lease Maturities) (Deta

Leases (Lease Maturities) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Operating Leases
2021 (Remaining three months ending March 31, 2021)	$ 1,983
2022	6,557
2023	6,293
2024	6,303
2025	4,132
Thereafter	4,974
Total undiscounted lease payments	30,242
Less amount of lease payments representing interest	(3,626)
Total present value of lease payments	26,616
Finance Lease
2021 (Remaining three months ending March 31, 2021)	706
2022	2,826
2023	2,826
2024	2,826
2025	1,412
Thereafter	0
Total undiscounted lease payments	10,596
Total present value of lease payments	(556)
Total present value of lease payments	10,040
Total
2021 (Remaining three months ending March 31, 2021)	2,689
2022	9,383
2023	9,119
2024	9,129
2025	5,544
Thereafter	4,974
Total undiscounted lease payments	40,838
Less amount of lease payments representing interest	(4,182)
Total present value of lease payments	$ 36,656

Leases (Additional Information)

Leases (Additional Information) (Details)	Dec. 31, 2020
Weighted average remaining lease term (years)
Operating leases	4 years 10 months 17 days
Finance leases	3 years 9 months
Weighted average discount rate
Operating leases	5.28%
Finance leases	2.98%

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Lessee, Lease, Description [Line Items]
Finance lease liability	$ 10,040
Finance lease right-of-use assets, net	9,628	$ 5,842
GEODIS
Lessee, Lease, Description [Line Items]
Finance lease liability	5,200
Finance lease right-of-use assets, net	$ 5,200

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Payables and Accruals [Abstract]
Accrued marketing costs	$ 40,377	$ 34,450
Accrued compensation costs	10,901	13,393
Accrued broker commissions	479	1,491
Income taxes payable	294	3,210
Accrued professional fees	3,647	4,183
Accrued production costs	3,229	5,628
Accrued sales tax	228	1,917
Other accrued liabilities	7,414	6,491
Other accrued liabilities	$ 66,569	$ 70,763

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument, stated interest rate	5.375%		5.375%
Total long-term debt (including current portion)	$ 1,560,000	$ 1,745,000
Less: unamortized debt costs	(11,308)	(14,700)
Long-term debt, net	$ 1,548,692	1,730,300
2019 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	5.125%		5.125%
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) - USD ($)	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Repayments of long-term debt	$ 0	$ 400,000,000
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	$ 123,300,000

Long-Term Debt - Maturities of

Long-Term Debt - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Aggregate Future Principal Payments
2021 (remaining three 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	Dec. 31, 2020	Mar. 31, 2020
Carrying Value | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps	$ 3,269	$ 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	3,269	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	613,500	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	421,000	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	560,700	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)	Dec. 31, 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	$ (3,000,000)
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 ($)	Dec. 31, 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	(224,000)	(1,905,000)
Other Long-Term Liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ (3,045,000)	$ (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		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 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	(1,415)	0	(3,837)	0
Other comprehensive income (loss)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in Other Comprehensive Loss (effective portion)	$ 1,053	$ 0	$ 2,347	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details)	9 Months Ended
	Dec. 31, 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		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Total amount repurchased	$ 8,877	$ 94	$ 11,116	$ 50,950
Share Repurchase Program
Class of Stock [Line Items]
Number of share (in shares)	253,771	0	282,636	1,622,544
Average price per share (in USD per share)	$ 34.98	$ 0	$ 34.93	$ 30.80
Total amount repurchased	$ 8,900	$ 0	$ 9,900	$ 50,000
Restricted Shares
Class of Stock [Line Items]
Number of share (in shares)	0	2,481	31,117	31,018
Average price per share (in USD per share)	$ 0	$ 37.95	$ 39.91	$ 31.39
Total amount repurchased	$ 0	$ 100	$ 1,200	$ 1,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ 1,323,221,000	$ 1,170,971,000	$ 1,278,217,000	$ 1,156,494,000	$ 1,112,790,000	$ 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	(16,802,000)	(39,241,000)
Unrealized loss on interest rate swaps, net of tax of $752 and $1,453, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(2,517,000)	(4,864,000)
Other comprehensive income (loss), cash flow hedge, reclassification tax	752,000	1,453,000
Unrecognized net gain (loss) on pension plans, net of tax of $(624) and $17, respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	2,088,000	(56,000)
Accumulated other comprehensive income, accumulated tax	(624,000)	17,000
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ (17,231,000)	$ (44,161,000)	$ (28,612,000)	$ (26,058,000)	$ (29,555,000)	$ (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		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Numerator
Net income	$ 40,873	$ 38,058	$ 129,168	$ 105,235
Denominator
Denominator for basic earnings per share — weighted average shares outstanding (in shares)	50,212	50,378	50,268	50,840
Dilutive effect of nonvested restricted stock units and options issued to employees and directors (in shares)	349	453	367	386
Denominator for diluted earnings per share (in shares)	50,561	50,831	50,635	51,226
Earnings per Common Share:
Basic earnings per share (in USD per share)	$ 0.81	$ 0.76	$ 2.57	$ 2.07
Diluted earnings per share (in USD per share)	$ 0.81	$ 0.75	$ 2.55	$ 2.05

Earnings Per Share (Antidilutiv

Earnings Per Share (Antidilutive Securities) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 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	0.6	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	Dec. 31, 2020	Dec. 31, 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					$ 7.9
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
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 (in shares)	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		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Pre-tax share-based compensation costs charged against income	$ 1,588	$ 1,780	$ 5,944	$ 5,682
Income tax benefit recognized on compensation costs	263	275	826	886
Total fair value of options and RSUs vested during the period	0	465	6,796	7,830
Cash received from the exercise of stock options	39	463	1,324	1,007
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises	$ 15	$ 105	$ 963	$ 587

Share-Based Compensation (Restr

Share-Based Compensation (Restricted Stock Units Activity) (Details) - Restricted Stock Units (RSUs) - $ / shares	May 04, 2020	Dec. 31, 2020	Dec. 31, 2019
Shares
Outstanding, beginning of period (in shares)		512,100	413,000
Granted (in shares)	907	179,700	220,300
Vested and issued (in shares)		(74,000)	(73,000)
Forfeited (in shares)		(4,700)	(34,200)
Outstanding, end of period (in shares)		613,100	526,100
Vested, end of period (in 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)		$ 32.49	$ 36.58
Granted, weighted-average grant-date fair value (in USD per share)		39.82	31.02
Vested and issued, weighted-average grant-date fair value (in USD per share)		44.38	47.68
Forfeited, weighted-average grant-date fair value (in USD per share)		56.11	35.97
Outstanding, end of period, weighted-average grant-date fair value (in USD per share)		33.02	32.74
Vested, end of period, weighted-average grant-date fair value (in USD per share)		$ 31.98	$ 31.71

Share-Based Compensation (Sto_2

Share-Based Compensation (Stock Option Valuation Assumptions) (Details) - Stock Options - USD ($)	9 Months Ended
	Dec. 31, 2020	Dec. 31, 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	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Shares
Outstanding, beginning of period (in shares)	1,020,200	944,600
Granted (in shares)	249,900	302,700
Exercised (in shares)	(65,800)	(36,000)
Forfeited or expired (in shares)	0	(155,300)
Outstanding, end of period (in shares)	1,204,300	1,056,000
Exercisable, end of period (in shares)	696,200	602,000
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)	20.14	27.96
Forfeited or expired, weighted-average exercise price (in USD per share)	0	41.18
Outstanding, end of period, weighted-average exercise price (in USD per share)	37.61	36.14
Exercisable, end of period, weighted-average exercise price (in USD per share)	$ 39.50	$ 38.90
Options, Additional Disclosures:
Outstanding, end of period, weighted-average remaining contractual term	6 years 9 months 18 days	6 years 10 months 24 days
Exercisable, end of period, weighted-average remaining contractual term	5 years 4 months 24 days	5 years 4 months 24 days
Outstanding, end of period, aggregate intrinsic value	$ 3,987	$ 9,035
Exercisable, end of period, aggregate intrinsic value	$ 2,786	$ 4,756

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	23.90%	24.70%	21.10%	25.20%
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		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Interest cost	$ 283	$ 575	$ 1,333	$ 1,729
Expected return on assets	(653)	(722)	(1,947)	(2,164)
Net periodic benefit income	$ (370)	$ (147)	$ (614)	$ (435)

Employee Retirement Plans (Narr

Employee Retirement Plans (Narrative) (Details) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Lump sum payout	$ 7
Settlement gain (loss), before tax	0.2
Non-qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions		$ 0.3
Expected employer contributions, remainder of fiscal year	0.1	0.1
Qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected employer contributions, remainder of fiscal year	$ 3	$ 3

Concentrations of Risk (Details

Concentrations of Risk (Details) - manufacturer	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 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	20.70%	23.20%	21.70%	23.40%
Sales | Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage			68.90%	66.20%
Number of third-party manufacturers with long-term contracts			18	17
Top 5 brands | Sales | Product Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	43.60%	41.70%	45.60%	42.80%

Business Segments (Information

Business Segments (Information on Operating and Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information, Profit (Loss):
Total revenues	$ 238,788	$ 241,552	$ 705,604	$ 711,775
Cost of sales	99,901	104,057	295,188	303,462
Gross profit	138,887	137,495	410,416	408,313
Advertising and marketing	38,081	33,559	104,172	107,027
Contribution margin	100,806	103,936	306,244	301,286
Other operating expenses	27,363	27,532	79,779	84,048
Operating income	73,443	76,404	226,465	217,238
North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	210,618	214,892	637,851	639,554
International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	28,170	26,660	67,753	72,221
Operating Segments | North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	210,618	214,892	637,851	639,554
Cost of sales	88,883	93,937	267,779	275,679
Gross profit	121,735	120,955	370,072	363,875
Advertising and marketing	32,859	29,025	91,553	94,634
Contribution margin	88,876	91,930	278,519	269,241
Operating Segments | International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	28,170	26,660	67,753	72,221
Cost of sales	11,018	10,120	27,409	27,783
Gross profit	17,152	16,540	40,344	44,438
Advertising and marketing	5,222	4,534	12,619	12,393
Contribution margin	11,930	12,006	27,725	32,045
Intersegment Eliminations | North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	$ 800	$ 600	$ 2,400	$ 2,100

Business Segments (Revenue) (De

Business Segments (Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 238,788	$ 241,552	$ 705,604	$ 711,775
Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	29,850	28,505	88,881	86,344
Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	20,748	29,963	55,970	79,005
Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	64,486	62,119	197,925	186,699
Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	45,322	44,742	119,174	124,541
Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	25,492	27,254	80,693	82,489
Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	25,393	23,884	82,423	78,927
Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	25,993	23,795	76,416	69,928
Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,504	1,290	4,122	3,842
North American OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	210,618	214,892	637,851	639,554
North American OTC Healthcare | Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	29,427	28,330	87,917	85,696
North American OTC Healthcare | Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	16,871	25,221	45,105	63,067
North American OTC Healthcare | Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	60,257	58,576	187,159	177,832
North American OTC Healthcare | Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	31,886	32,645	93,654	96,431
North American OTC Healthcare | Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	23,166	24,095	72,785	73,134
North American OTC Healthcare | Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	24,602	23,286	80,097	77,063
North American OTC Healthcare | Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	22,907	21,451	67,017	62,493
North American OTC Healthcare | Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,502	1,288	4,117	3,838
International OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	28,170	26,660	67,753	72,221
International OTC Healthcare | Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	423	175	964	648
International OTC Healthcare | Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,877	4,742	10,865	15,938
International OTC Healthcare | Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	4,229	3,543	10,766	8,867
International OTC Healthcare | Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	13,436	12,097	25,520	28,110
International OTC Healthcare | Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	2,326	3,159	7,908	9,355
International OTC Healthcare | Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	791	598	2,326	1,864
International OTC Healthcare | Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,086	2,344	9,399	7,435
International OTC Healthcare | Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 2	$ 2	$ 5	$ 4

Business Segments (Revenue by G

Business Segments (Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 238,788	$ 241,552	$ 705,604	$ 711,775
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	197,296	203,920	599,931	604,263
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 41,492	$ 37,632	$ 105,673	$ 107,512

Business Segments (Goodwill and

Business Segments (Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 579,559	$ 575,179
Intangible assets
Indefinite-lived	2,283,131	2,265,331
Finite-lived, net	198,594	214,060
Intangible assets, net	2,481,725	2,479,391
Total	3,061,284	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	195,248	209,604
Intangible assets, net	2,390,865	2,405,221
Total	2,937,508	2,951,864
International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	32,916	28,536
Intangible assets
Indefinite-lived	87,514	69,714
Finite-lived, net	3,346	4,456
Intangible assets, net	90,860	74,170
Total	$ 123,776	$ 102,706