Prestige Consumer Healthcare (PBH) 10-Q 4 Aug 22 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	2023
Document Fiscal Period Focus	Q1
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		49,762,633

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenues
Total revenues	$ 277,059	$ 269,181
Cost of Sales
Cost of sales excluding depreciation	114,996	108,335
Cost of sales depreciation	1,944	1,834
Cost of sales	116,940	110,169
Gross profit	160,119	159,012
Operating Expenses
Advertising and marketing	39,951	39,439
General and administrative	26,714	22,471
Depreciation and amortization	6,440	5,760
Total operating expenses	73,105	67,670
Operating income	87,014	91,342
Other expense (income)
Interest expense, net	15,292	15,077
Other expense (income), net	825	(105)
Total other expense, net	16,117	14,972
Income before income taxes	70,897	76,370
Provision for income taxes	15,625	18,615
Net income	$ 55,272	$ 57,755
Earnings per share:
Basic (in USD per share)	$ 1.10	$ 1.15
Diluted (in USD per share)	$ 1.09	$ 1.14
Weighted average shares outstanding:
Basic (in shares)	50,264	50,139
Diluted (in shares)	50,730	50,671
Comprehensive income, net of tax:
Currency translation adjustments	$ (9,519)	$ (1,492)
Unrealized gain on interest rate swaps	0	520
Net loss on termination of pension plan	(790)	0
Total other comprehensive loss	(10,309)	(972)
Comprehensive income	44,963	56,783
Net sales
Revenues
Total revenues	277,024	269,172
Other revenues
Revenues
Total revenues	$ 35	$ 9

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Current assets
Cash and cash equivalents	$ 35,869	$ 27,185
Accounts receivable, net of allowance of $18,335 and $19,720, respectively	145,451	139,330
Inventories	133,768	120,342
Prepaid expenses and other current assets	9,527	6,410
Total current assets	324,615	293,267
Property, plant and equipment, net	70,393	71,300
Operating lease right-of-use assets	18,885	20,372
Finance lease right-of-use assets, net	6,193	6,858
Goodwill	576,794	578,976
Intangible assets, net	2,682,611	2,696,635
Other long-term assets	2,743	3,273
Total Assets	3,682,234	3,670,681
Current liabilities
Accounts payable	58,110	55,760
Accrued interest payable	15,182	4,437
Operating lease liabilities, current portion	6,548	6,360
Finance lease liabilities, current portion	2,772	2,752
Other accrued liabilities	72,737	74,113
Total current liabilities	155,349	143,422
Long-term debt, net	1,472,427	1,476,658
Deferred income tax liabilities	442,537	444,917
Long-term operating lease liabilities, net of current portion	14,460	16,088
Long-term finance lease liabilities, net of current portion	3,800	4,501
Other long-term liabilities	8,918	7,484
Total Liabilities	2,097,491	2,093,070
Commitments and Contingencies — Note 17
Stockholders' Equity
Preferred stock - $0.01 par value; Authorized - 5,000 shares; Issued and outstanding - None	0	0
Common stock - $0.01 par value; Authorized - 250,000 shares; Issued - 54,350 shares at December 31, 2021 and 53,999 shares at March 31, 2021	547	544
Additional paid-in capital	520,926	515,583
Treasury stock, at cost - 4,928 shares at June 30, 2022 and 4,151 shares at March 31, 2022	(176,825)	(133,648)
Accumulated other comprehensive loss, net of tax	(29,341)	(19,032)
Retained earnings	1,269,436	1,214,164
Total Stockholders' Equity	1,584,743	1,577,611
Total Liabilities and Stockholders' Equity	$ 3,682,234	$ 3,670,681

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 18,335	$ 19,720
Stockholders' Equity:
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	54,690,000	54,430,000
Treasury stock (in shares)	4,928,000	4,151,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Common stock, beginning balance (in shares) at Mar. 31, 2021		53,999,000
Equity, beginning balance at Mar. 31, 2021	$ 1,358,298	$ 540	$ 499,508	$ (130,732)	$ (19,801)	$ 1,008,783
Treasury stock, beginning balance (in shares) at Mar. 31, 2021				4,088,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 1,878		1,878
Exercise of stock options (in shares)	67,900	68,000
Exercise of stock options	$ 2,204		2,204
Issuance of shares related to restricted stock		144,000
Issuance of shares related to restricted stock	0	$ 2	(2)
Treasury share repurchases				63,000
Treasury share repurchases	(2,916)			$ (2,916)
Net income	57,755					57,755
Comprehensive income (loss)	(972)				(972)
Common stock, ending balance (in shares) at Jun. 30, 2021		54,211,000
Equity, ending balance at Jun. 30, 2021	1,416,247	$ 542	503,588	$ (133,648)	(20,773)	1,066,538
Treasury stock, ending balance (in shares) at Jun. 30, 2021				4,151,000
Common stock, beginning balance (in shares) at Mar. 31, 2022		54,430,000
Equity, beginning balance at Mar. 31, 2022	$ 1,577,611	$ 544	515,583	$ (133,648)	(19,032)	1,214,164
Treasury stock, beginning balance (in shares) at Mar. 31, 2022	4,151,000			4,151,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 3,857		3,857
Exercise of stock options (in shares)	39,100	39,000
Exercise of stock options	$ 1,489	$ 1	1,488
Issuance of shares related to restricted stock		221,000
Issuance of shares related to restricted stock	0	$ 2	(2)
Treasury share repurchases				777,000
Treasury share repurchases	(43,177)			$ (43,177)
Net income	55,272					55,272
Comprehensive income (loss)	(10,309)				(10,309)
Common stock, ending balance (in shares) at Jun. 30, 2022		54,690,000
Equity, ending balance at Jun. 30, 2022	$ 1,584,743	$ 547	$ 520,926	$ (176,825)	$ (29,341)	$ 1,269,436
Treasury stock, ending balance (in shares) at Jun. 30, 2022	4,928,000			4,928,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities
Net income	$ 55,272	$ 57,755
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,384	7,594
Loss on disposal of property and equipment	13	26
Deferred income taxes	1,213	5,876
Amortization of debt origination costs	828	759
Stock-based compensation costs	3,857	1,878
Non-cash operating lease cost	1,493	1,691
Other	446	0
Changes in operating assets and liabilities, net of effects from acquisition:
Accounts receivable	(7,079)	(15,879)
Inventories	(14,415)	9,384
Prepaid expenses and other current assets	(3,227)	(1,049)
Accounts payable	2,542	(15,551)
Accrued liabilities	10,524	18,439
Operating lease liabilities	(1,602)	(1,578)
Other	(2)	(40)
Net cash provided by operating activities	58,247	69,305
Investing Activities
Purchases of property, plant and equipment	(1,047)	(1,500)
Other	0	177
Net cash used in investing activities	(1,047)	(1,323)
Financing Activities
Term loan repayments	(15,000)	(20,000)
Borrowings under revolving credit agreement	20,000	85,000
Repayments under revolving credit agreement	(10,000)	0
Payments of finance leases	(686)	(638)
Proceeds from exercise of stock options	1,489	2,204
Fair value of shares surrendered as payment of tax withholding	(5,450)	(2,916)
Repurchase of common stock	(37,727)	0
Net cash (used in) provided by financing activities	(47,374)	63,650
Effects of exchange rate changes on cash and cash equivalents	(1,142)	(310)
Increase in cash and cash equivalents	8,684	131,322
Cash and cash equivalents - beginning of period	27,185	32,302
Cash and cash equivalents - end of period	35,869	163,624
Supplemental Cash Flow Information [Abstract]
Interest paid	3,562	3,389
Income taxes paid	$ 1,799	$ 2,388

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Jun. 30, 2022
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 8 to these Condensed Consolidated Financial Statements. Economic Environment The COVID-19 pandemic has caused significant volatility in the United States and global economies. In addition, the Russian invasion of Ukraine, global supply chain constraints and high inflationary environment have led to further economic uncertainty. We expect economic conditions will continue to be highly volatile and uncertain and could affect demand for our products and put pressure on prices and supply. In fiscal 2022, we experienced solid consumer consumption and share gains across most of our brand portfolio. We have continued to see changes in the purchasing patterns of our consumers, including a reduction in the frequency of visits to retailers and a shift in many markets to purchasing our products online. The volatile environment has impacted the supply of labor and raw materials and exacerbated rising input costs. Although we have not experienced a material disruption to our overall supply chain to date, we have and may continue to experience shortages, delays and backorders for certain ingredients and products, difficulty scheduling shipping for our products, as well as price increases from many of our suppliers for both shipping and product costs. In addition, labor shortages have impacted our manufacturing operations and may impact our ability to supply certain products to our customers. To date, the pandemic and other global conditions have not had a material negative impact on our operations, supply chain, overall costs or 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, however, in this dynamic, unprecedented environment. If conditions cause further disruption in the global supply chain, the availability of labor and materials or otherwise increase costs, 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. The extent to which these conditions impact 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 and duration of any further COVID-19 outbreaks, global supply chain constraints, high inflationary environment and further global instability. These effects could have a material adverse impact on our business, 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., 2023) mean our fiscal year ending or ended on March 31 st of that year. Operating results for the three months ended June 30, 2022 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2023. 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, 2022. 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 There have been no accounting pronouncements adopted in fiscal 2023. Recently Issued Accounting Pronouncements In March 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU responds to feedback received by the FASB during the post-implementation review of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments , which we adopted effective April 1, 2020. The amendments in this update, among other things, eliminate the troubled debt restructuring recognition and measurement guidance and, instead, require the entity to evaluate whether the modification represents a new loan or a continuation of an existing loan. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of the standard is not expected to have a material effect on our Consolidated Financial Statements. In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method . The purpose of the ASU is to address questions raised on ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU expands the currently used single-layer method of hedge accounting to allow multiple layers of a single closed portfolio under the method. This ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The impact of adoption of this new standard is not expected to have a material effect on our Consolidated Financial Statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires entities to apply Topic 606 to recognize and measure contract assets and liabilities in a business combination. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The impact of adoption of this new standard will depend on the magnitude of future acquisitions. 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 . This ASU provides optional expedient and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. In response to the concerns about structural risks of interbank offered rates (“IBORs”) and, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”), regulators in several jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. In January 2021, the FASB issued ASU 2021-01, which adds implementation guidance to clarify certain optional expedients in Topic 848. The ASUs can be adopted no later than December 31, 2022, with early adoption permitted. The adoption of the standard is not expected to have a material effect on our Consolidated Financial Statements.

Acquisition

Acquisition	3 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Acquisition	Acquisition Akorn On July 1, 2021, we completed the acquisition of the consumer health business assets from Akorn Operating Company LLC ("Akorn") pursuant to an Asset Purchase Agreement, dated May 27, 2021 (the "Purchase Agreement"), for a purchase price of $228.9 million in cash, subject to certain closing adjustments specified in the Purchase Agreement. As a result of the purchase, we acquired TheraTears and certain other over-the-counter consumer brands. The financial results from this acquisition are included in our North American and International OTC Healthcare segments. The purchase price was funded by a combination of available cash on hand, additional borrowings under our asset-based revolving credit facility entered into January 31, 2012, as amended (the "2012 ABL Revolver") and the net proceeds from the refinancing of our term loan entered into on January 31, 2012 (the "2012 Term Loan") (see Note 8). The acquisition was accounted for as a business combination. In connection with the acquisition, we entered into a supply arrangement with Akorn for a term of three years with optional renewals at prevailing market rates. We finalized our analysis of the fair values of the assets acquired and liabilities assumed as of the date of acquisition. The following table summarizes our allocation of the assets acquired and liabilities assumed as of the July 1, 2021 acquisition date. (In thousands) July 1, 2021 Inventories $ 6,455 Goodwill 1,098 Intangible assets 225,410 Total assets acquired 232,963 Accounts payable 428 Reserves for sales allowances 497 Other accrued liabilities 3,124 Total liabilities assumed 4,049 Total purchase price $ 228,914 Based on this analysis, we allocated $195.9 million to non-amortizable intangible assets and $29.5 million to amortizable intangible assets. The non-amortizable intangible assets are classified as trademarks and, of the amortizable intangible assets, $20.4 million are classified as customer relationships and $9.1 million are classified as trademarks. We are amortizing the purchased amortizable intangible assets on a straight-line basis over an estimated weighted average useful life of 12.5 years (see Note 5). We recorded goodwill of $1.1 million based on the amount by which the purchase price exceeded the fair value of the net assets acquired (see Note 4). Goodwill is deductible and is being amortized for income tax purposes.

Inventories

Inventories	3 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: (In thousands) June 30, 2022 March 31, 2022 Components of Inventories Packaging and raw materials $ 16,737 $ 16,984 Work in process 476 338 Finished goods 116,555 103,020 Inventories $ 133,768 $ 120,342

Goodwill

Goodwill	3 Months Ended
	Jun. 30, 2022
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, 2022 Goodwill $ 712,002 $ 32,272 $ 744,274 Accumulated impairment loss (163,711) (1,587) (165,298) Balance - March 31, 2022 548,291 30,685 578,976 Adjustment related to acquisition (550) — (550) Effects of foreign currency exchange rates — (1,632) (1,632) Balance - June 30, 2022 Goodwill 711,452 30,640 742,092 Accumulated impairment loss (163,711) (1,587) (165,298) Balance - June 30, 2022 $ 547,741 $ 29,053 $ 576,794 As discussed in Note 2, on July 1, 2021, we completed the acquisition of certain assets from Akorn. In connection with this acquisition, we recorded goodwill of $1.1 million based on the amount by which the purchase price exceeded the estimate of the fair value of the net assets acquired. On an annual basis during the fourth quarter of each fiscal year, or more frequently if conditions indicate that the carrying value of the asset may not be recoverable, management performs a review of the values assigned to goodwill and tests for impairment. The date of our annual impairment review was February 28, 2022, and we recorded impairment charges of $0.3 million in our March 31, 2022 financial statements. We utilized the discounted cash flow method to estimate the fair value of our reporting units as part of the goodwill impairment test. We also considered our market capitalization at February 28, 2022 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 related to future sales, gross margins, and advertising and marketing expenses, which can be impacted by increases in competition, changing consumer preferences, technical advances, or the potential impacts of COVID-19 and inflation. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. If these assumptions are adversely affected, we may be required to record impairment charges in the future. We continuously monitor events that could trigger an interim impairment analysis, which included the impact of COVID-19 and inflation for the period ended June 30, 2022.

Intangible Assets, net

Intangible Assets, net	3 Months Ended
	Jun. 30, 2022
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, 2022 $ 2,476,559 $ 436,174 $ 2,912,733 Additions — — — Effects of foreign currency exchange rates (6,796) (1,776) (8,572) Balance — June 30, 2022 2,469,763 434,398 2,904,161 Accumulated Amortization Balance — March 31, 2022 — 216,098 216,098 Additions — 5,635 5,635 Effects of foreign currency exchange rates — (183) (183) Balance — June 30, 2022 — 221,550 221,550 Intangible assets, net - June 30, 2022 $ 2,469,763 $ 212,848 $ 2,682,611 On July 1, 2021, we completed the acquisition of certain assets from Akorn (see Note 2) and on December 15, 2021 our Australian subsidiary acquired the rights to the Zaditen brand in certain territories from Novartis Pharma AG. In connection with these acquisitions, we allocated $225.4 million to intangible assets for Akorn and $18.1 million for Zaditen . Amortization expense was $5.6 million for the three months ended June 30, 2022 and $4.9 million for the three months ended June 30, 2021. 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 2023 (remaining nine months ended March 31, 2023) $ 16,865 2024 22,445 2025 20,392 2026 18,145 2027 16,504 Thereafter 118,497 $ 212,848 Under accounting guidelines, indefinite-lived assets are not amortized, but must be tested for impairment annually, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the asset below the carrying amount. The date of our annual impairment review was February 28, 2022, and we recorded impairment charges of $0.7 million in our March 31, 2022 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 assumptions subject to significant uncertainties include the discount rate utilized in the analyses, as well as future sales, gross margins, and advertising and marketing expenses. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. 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 needs or preferences, technological advances, changes in advertising and marketing expenses, or the potential impacts of COVID-19 or inflation, we may be required to record impairment charges in the future. As of June 30, 2022, no events have occurred that would indicate potential impairment of intangible assets.

Leases

Leases	3 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, (In thousands) 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 665 $ 642 Interest on lease liabilities 50 66 Operating lease cost 1,634 1,687 Short term lease cost 34 22 Variable lease cost 11,999 11,651 Total net lease cost $ 14,382 $ 14,068 As of June 30, 2022, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2023 (Remaining nine months ending March 31, 2023) $ 5,382 $ 2,191 $ 7,573 2024 6,850 2,923 9,773 2025 4,586 1,509 6,095 2026 2,181 96 2,277 2027 1,883 80 1,963 Thereafter 1,682 — 1,682 Total undiscounted lease payments 22,564 6,799 29,363 Less amount of lease payments representing interest (1,556) (227) (1,783) Total present value of lease payments $ 21,008 $ 6,572 $ 27,580 The weighted average remaining lease term and weighted average discount rate were as follows: June 30, 2022 Weighted average remaining lease term (years) Operating leases 3.81 Finance leases 2.40 Weighted average discount rate Operating leases 3.08 % Finance leases 2.95 %
Leases	Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, (In thousands) 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 665 $ 642 Interest on lease liabilities 50 66 Operating lease cost 1,634 1,687 Short term lease cost 34 22 Variable lease cost 11,999 11,651 Total net lease cost $ 14,382 $ 14,068 As of June 30, 2022, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2023 (Remaining nine months ending March 31, 2023) $ 5,382 $ 2,191 $ 7,573 2024 6,850 2,923 9,773 2025 4,586 1,509 6,095 2026 2,181 96 2,277 2027 1,883 80 1,963 Thereafter 1,682 — 1,682 Total undiscounted lease payments 22,564 6,799 29,363 Less amount of lease payments representing interest (1,556) (227) (1,783) Total present value of lease payments $ 21,008 $ 6,572 $ 27,580 The weighted average remaining lease term and weighted average discount rate were as follows: June 30, 2022 Weighted average remaining lease term (years) Operating leases 3.81 Finance leases 2.40 Weighted average discount rate Operating leases 3.08 % Finance leases 2.95 %

Other Accrued Liabilities

Other Accrued Liabilities	3 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consist of the following: (In thousands) June 30, 2022 March 31, 2022 Accrued marketing costs $ 37,835 $ 36,149 Accrued compensation costs 5,356 19,587 Accrued broker commissions 1,239 1,179 Income taxes payable 13,830 2,670 Accrued professional fees 3,965 4,150 Accrued production costs 3,225 3,686 Other accrued liabilities 7,287 6,692 $ 72,737 $ 74,113

Long-Term Debt

Long-Term Debt	3 Months Ended
	Jun. 30, 2022
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) June 30, 2022 March 31, 2022 2021 Senior Notes bearing interest at 3.750%, with interest payable on April 1 and October 1 of each year. The 2021 Senior Notes mature on April 1, 2031. $ 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 0.50%, or an alternate base rate plus a margin of 1.00% per annum, due on July 1, 2028. 480,000 495,000 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. 10,000 — Long-term debt 1,490,000 1,495,000 Less: unamortized debt costs (17,573) (18,342) Long-term debt, net $ 1,472,427 $ 1,476,658 At June 30, 2022, we had $10.0 million outstanding on the 2012 ABL Revolver, and a borrowing capacity of $137.5 million. As of June 30, 2022, 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 2031 (the "2021 Senior Notes") and the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows: (In thousands) Year Ending March 31, Amount 2023 (remaining nine months ending March 31, 2023) $ — 2024 — 2025 10,000 2026 — 2027 — Thereafter 1,480,000 $ 1,490,000

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 30, 2022
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 2021 Senior Notes, the 2019 Senior Notes, the 2012 Term B-5 Loans, and the 2012 ABL Revolver are measured in Level 2 of the above hierarchy. The summary below details the carrying amounts and estimated fair values of these instruments at June 30, 2022 and March 31, 2022. June 30, 2022 March 31, 2022 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2021 Senior Notes $ 600,000 $ 484,500 $ 600,000 $ 534,000 2019 Senior Notes 400,000 372,000 400,000 397,000 2012 Term B-5 Loans 480,000 476,400 495,000 493,144 2012 ABL Revolver 10,000 10,000 — —

Derivative Instruments

Derivative Instruments	3 Months Ended
	Jun. 30, 2022
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 an interest rate swap to hedge a total of $200.0 million of our variable interest debt which settled on January 31, 2022. We do not use derivatives for trading purposes. The following table summarizes our interest rate swaps, net of tax, for the periods shown: Three Months Ended June 30, (In thousands) Location 2022 2021 Gain Recognized in Other Comprehensive Loss (effective portion) Other comprehensive income (loss) $ — $ 520 Loss Reclassified from Accumulated Other Comprehensive Loss into Income Interest expense $ — $ (718)

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2022
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 June 30, 2022. During the three months ended June 30, 2022 and 2021, we repurchased shares of our common stock and recorded them as treasury stock. Our share repurchases consisted of the following: Three Months Ended June 30, 2022 2021 Shares repurchased pursuant to the provisions of the various employee restricted stock awards: Number of shares 99,219 63,314 Average price per share $54.94 $46.04 Total amount repurchased $5.5 million $2.9 million Shares repurchased in conjunction with our share repurchase program: Number of shares 677,555 — Average price per share $55.68 $ — Total amount repurchased $37.7 million $ —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following at June 30, 2022 and March 31, 2022: (In thousands) June 30, 2022 March 31, 2022 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (29,723) $ (20,204) Unrecognized net gain on pension plans, net of tax of $(114) and $(350), respectively 382 1,172 Accumulated other comprehensive loss, net of tax $ (29,341) $ (19,032)

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jun. 30, 2022
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, restricted stock units ("RSUs") and performance stock units ("PSUs"). 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 June 30, (In thousands, except per share data) 2022 2021 Numerator Net income $ 55,272 $ 57,755 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,264 50,139 Dilutive effect of unvested restricted stock units and options issued to employees and directors 466 532 Denominator for diluted earnings per share 50,730 50,671 Earnings per Common Share: Basic earnings per share $ 1.10 $ 1.15 Diluted earnings per share $ 1.09 $ 1.14

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Jun. 30, 2022
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. On June 23, 2020, a total of 2,827,210 shares were 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 June 30, (In thousands) 2022 2021 Pre-tax share-based compensation costs charged against income $ 3,857 $ 1,878 Income tax benefit recognized on compensation costs $ 537 $ 143 Total fair value of options and RSUs vested during the period $ 10,225 $ 7,006 Cash received from the exercise of stock options $ 1,489 $ 2,204 Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises $ 2,895 $ 1,721 At June 30, 2022, there were $5.5 million of unrecognized compensation costs related to unvested stock options under the 2005 Plan and the 2020 Plan, excluding an estimate for forfeitures which may occur. We expect to recognize such costs over a weighted average period of 2.4 years. At June 30, 2022, there were $13.2 million of unrecognized compensation costs related to unvested RSUs and PSUs under the 2005 Plan and the 2020 Plan, excluding an estimate for forfeitures which may occur. We expect to recognize such costs over a weighted average period of 2.3 years. At June 30, 2022, there were 2.2 million shares available for issuance under the 2020 Plan. On May 2, 2022, the Compensation and Talent Management Committee (the "Committee") of our Board of Directors granted 67,959 PSUs, 65,721 RSUs, and stock options to acquire 195,526 shares of our common stock under the 2020 Plan to certain executive officers and employees. The stock options were granted at an exercise price of $54.47 per share, which was equal to the closing price for our common stock on the date of the grant. 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 Three Months Ended June 30, 2021 Unvested at March 31, 2021 457.0 $ 33.52 Granted 152.1 44.33 Vested (145.5) 30.63 Forfeited (23.1) 30.17 Unvested at June 30, 2021 440.5 38.38 Vested at June 30, 2021 151.3 32.03 Three Months Ended June 30, 2022 Unvested at March 31, 2022 440.9 $ 38.45 Granted 134.0 54.47 Incremental performance shares 42.4 — Vested (222.4) 32.05 Unvested at June 30, 2022 394.9 46.65 Vested at June 30, 2022 108.5 36.54 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: Three Months Ended June 30, 2022 2021 Expected volatility 30.8% - 30.9% 31.2% - 31.9% Expected dividends $ — $ — Expected term in years 6.0 to 7.0 6.0 to 7.0 Risk-free rate 2.8% to 2.9% 1.3% Weighted average grant date fair value of options granted $ 20.10 $ 14.77 A summary of option activity under the 2005 Plan and the 2020 Plan is as follows: Options Shares (in thousands) Weighted Weighted Aggregate Three Months Ended June 30, 2021 Outstanding at March 31, 2021 1,114.9 $ 37.92 Granted 222.7 44.33 Exercised (67.9) 32.49 Forfeited (9.2) 36.45 Expired (8.4) 56.63 Outstanding at June 30, 2021 1,252.1 39.24 6.9 $ 17,068 Vested at June 30, 2021 779.5 38.72 5.6 $ 11,399 Three Months Ended June 30, 2022 Outstanding at March 31, 2022 1,100.9 $ 40.62 Granted 197.6 54.48 Exercised (39.1) 38.04 Outstanding at June 30, 2022 1,259.4 42.88 6.9 $ 20,052 Vested at June 30, 2022 827.0 39.98 5.7 $ 15,567 The aggregate intrinsic value of options exercised during the three months ended June 30, 2022 was $0.7 million.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome 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 22.0% and 24.4% for the three months ended June 30, 2022 and 2021, respectively. The decrease in the effective tax rate for the three months ended June 30, 2022 compared to the three months ended June 30, 2021 was due to discrete items primarily pertaining to share-based compensation.

Employee Retirement Plans

Employee Retirement Plans	3 Months Ended
	Jun. 30, 2022
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 June 30, (In thousands) 2022 2021 Interest cost $ 331 $ 278 Expected return on assets (252) (290) Net periodic benefit expense (income) $ 79 $ (12) During the three months ended June 30, 2022, we contributed $0.1 million to our non-qualified defined benefit plan and made no contributions to the qualified defined benefit plan. During the remainder of fiscal 2023, we expect to contribute an additional $0.3 million to our non-qualified plan and to ma ke no contributions to the qualified plan.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2022
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	3 Months Ended
	Jun. 30, 2022
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 months ended June 30, 2022 and 2021, approximately 41.5% and 45.5%, respectively, of our gross revenues were derived from our five top selling brands. One customer, Walmart, accounted for more than 10% of our gross revenues in both of the periods presented. Walmart accounted for approximately 19.9% and 20.5%, respectively, of our gross revenues for the three months ended June 30, 2022 and 2021. 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, which manufactures many of the Summer's Eve and Fleet products. 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 labor shortages or various public health emergencies at our distribution center or manufacturing facility could materially impact our product distribution. Any disruption could result in increased costs and/or shipping times, and could cause us to incur customer fees and penalties. 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 June 30, 2022, we had relationships with 129 third-party manufacturers. Of those, we had long-term contracts with 25 manufacturers that produced items that accounted for approximately 71.0% of gross sales for the three months ended June 30, 2022. At June 30, 2021, we had relationships with 118 third-party manufacturers. Of those, we had long-term contracts with 18 manufacturers that produced items that accounted for approximately 69.8% of gross sales for the three months ended June 30, 2021. The fact that we do not have long-term contracts with certain manufacturers means that they could cease manufacturing our products at any time and for any reason or initiate arbitrary and costly price increases, which could have a material adverse effect on our business and results of operations. Although we are continually in the process of negotiating long-term contracts with certain key manufacturers, we may not be able to reach a timely agreement, which could have a material adverse effect on our business and results of operations.

Business Segments

Business Segments	3 Months Ended
	Jun. 30, 2022
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 June 30, 2022 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 242,518 $ 34,541 $ 277,059 Cost of sales 102,921 14,019 116,940 Gross profit 139,597 20,522 160,119 Advertising and marketing 35,412 4,539 39,951 Contribution margin $ 104,185 $ 15,983 120,168 Other operating expenses 33,154 Operating income $ 87,014 * Intersegment revenues of $0.5 million were eliminated from the North American OTC Healthcare segment. Three Months Ended June 30, 2021 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 242,393 $ 26,788 $ 269,181 Cost of sales 99,404 10,765 110,169 Gross profit 142,989 16,023 159,012 Advertising and marketing 35,230 4,209 39,439 Contribution margin $ 107,759 $ 11,814 119,573 Other operating expenses 28,231 Operating income $ 91,342 * Intersegment revenues of $1.0 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 June 30, 2022 (In thousands) North American OTC International OTC Consolidated Analgesics $ 27,797 $ 453 $ 28,250 Cough & Cold 21,592 6,271 27,863 Women's Health 61,184 4,867 66,051 Gastrointestinal 40,067 14,027 54,094 Eye & Ear Care 38,611 4,736 43,347 Dermatologicals 29,455 1,006 30,461 Oral Care 20,975 3,170 24,145 Other OTC 2,837 11 2,848 Total segment revenues $ 242,518 $ 34,541 $ 277,059 Three Months Ended June 30, 2021 (In thousands) North American OTC International OTC Consolidated Analgesics $ 32,821 $ 406 $ 33,227 Cough & Cold 14,045 4,847 18,892 Women's Health 63,248 3,944 67,192 Gastrointestinal 42,366 10,204 52,570 Eye & Ear Care 35,987 3,458 39,445 Dermatologicals 31,150 939 32,089 Oral Care 20,967 2,989 23,956 Other OTC 1,809 1 1,810 Total segment revenues $ 242,393 $ 26,788 $ 269,181

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event Director Equity Grants Pursuant to the 2020 Plan, each of the independent members of the Board of Directors received a grant of 2,495 RSUs on August 2, 2022. The RSUs fully vest one year after receipt of the award, subject to the continued service of the director on such vesting date, and will be settled by delivery to each director of one share of our common stock for each vested RSU either (a) at the election of the director prior to the grant date, immediately upon vesting, or (b) 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.

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	3 Months Ended
	Jun. 30, 2022
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., 2023) mean our fiscal year ending or ended on March 31 st of that year. Operating results for the three months ended June 30, 2022 are not necessarily indicative of results that may be expected for the fiscal year ending March 31, 2023. 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, 2022.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on our knowledge of current events and actions that we may undertake in the future, actual results could differ from those estimates. Our most significant estimates include those made in connection with the valuation of intangible assets, stock-based
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements There have been no accounting pronouncements adopted in fiscal 2023. Recently Issued Accounting Pronouncements In March 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU responds to feedback received by the FASB during the post-implementation review of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments , which we adopted effective April 1, 2020. The amendments in this update, among other things, eliminate the troubled debt restructuring recognition and measurement guidance and, instead, require the entity to evaluate whether the modification represents a new loan or a continuation of an existing loan. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of the standard is not expected to have a material effect on our Consolidated Financial Statements. In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method . The purpose of the ASU is to address questions raised on ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU expands the currently used single-layer method of hedge accounting to allow multiple layers of a single closed portfolio under the method. This ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The impact of adoption of this new standard is not expected to have a material effect on our Consolidated Financial Statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires entities to apply Topic 606 to recognize and measure contract assets and liabilities in a business combination. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The impact of adoption of this new standard will depend on the magnitude of future acquisitions. 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 . This ASU provides optional expedient and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. In response to the concerns about structural risks of interbank offered rates (“IBORs”) and, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”), regulators in several jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The ASU provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. In January 2021, the FASB issued ASU 2021-01, which adds implementation guidance to clarify certain optional expedients in Topic 848. The ASUs can be adopted no later than December 31, 2022, with early adoption permitted. The adoption of the standard is not expected to have a material effect on our Consolidated Financial Statements.

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes our allocation of the assets acquired and liabilities assumed as of the July 1, 2021 acquisition date. (In thousands) July 1, 2021 Inventories $ 6,455 Goodwill 1,098 Intangible assets 225,410 Total assets acquired 232,963 Accounts payable 428 Reserves for sales allowances 497 Other accrued liabilities 3,124 Total liabilities assumed 4,049 Total purchase price $ 228,914

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following: (In thousands) June 30, 2022 March 31, 2022 Components of Inventories Packaging and raw materials $ 16,737 $ 16,984 Work in process 476 338 Finished goods 116,555 103,020 Inventories $ 133,768 $ 120,342

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Jun. 30, 2022
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, 2022 Goodwill $ 712,002 $ 32,272 $ 744,274 Accumulated impairment loss (163,711) (1,587) (165,298) Balance - March 31, 2022 548,291 30,685 578,976 Adjustment related to acquisition (550) — (550) Effects of foreign currency exchange rates — (1,632) (1,632) Balance - June 30, 2022 Goodwill 711,452 30,640 742,092 Accumulated impairment loss (163,711) (1,587) (165,298) Balance - June 30, 2022 $ 547,741 $ 29,053 $ 576,794

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	3 Months Ended
	Jun. 30, 2022
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, 2022 $ 2,476,559 $ 436,174 $ 2,912,733 Additions — — — Effects of foreign currency exchange rates (6,796) (1,776) (8,572) Balance — June 30, 2022 2,469,763 434,398 2,904,161 Accumulated Amortization Balance — March 31, 2022 — 216,098 216,098 Additions — 5,635 5,635 Effects of foreign currency exchange rates — (183) (183) Balance — June 30, 2022 — 221,550 221,550 Intangible assets, net - June 30, 2022 $ 2,469,763 $ 212,848 $ 2,682,611 On July 1, 2021, we completed the acquisition of certain assets from Akorn (see Note 2) and on December 15, 2021 our Australian subsidiary acquired the rights to the Zaditen brand in certain territories from Novartis Pharma AG. In connection with these acquisitions, we allocated $225.4 million to intangible assets for Akorn and $18.1 million for Zaditen .
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, 2022 $ 2,476,559 $ 436,174 $ 2,912,733 Additions — — — Effects of foreign currency exchange rates (6,796) (1,776) (8,572) Balance — June 30, 2022 2,469,763 434,398 2,904,161 Accumulated Amortization Balance — March 31, 2022 — 216,098 216,098 Additions — 5,635 5,635 Effects of foreign currency exchange rates — (183) (183) Balance — June 30, 2022 — 221,550 221,550 Intangible assets, net - June 30, 2022 $ 2,469,763 $ 212,848 $ 2,682,611 On July 1, 2021, we completed the acquisition of certain assets from Akorn (see Note 2) and on December 15, 2021 our Australian subsidiary acquired the rights to the Zaditen brand in certain territories from Novartis Pharma AG. In connection with these acquisitions, we allocated $225.4 million to intangible assets for Akorn and $18.1 million for Zaditen .
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 2023 (remaining nine months ended March 31, 2023) $ 16,865 2024 22,445 2025 20,392 2026 18,145 2027 16,504 Thereafter 118,497 $ 212,848

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Components of Lease Expense	The components of lease expense for the three months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, (In thousands) 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 665 $ 642 Interest on lease liabilities 50 66 Operating lease cost 1,634 1,687 Short term lease cost 34 22 Variable lease cost 11,999 11,651 Total net lease cost $ 14,382 $ 14,068 The weighted average remaining lease term and weighted average discount rate were as follows: June 30, 2022 Weighted average remaining lease term (years) Operating leases 3.81 Finance leases 2.40 Weighted average discount rate Operating leases 3.08 % Finance leases 2.95 %
Maturities of Operating Leases	As of June 30, 2022, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2023 (Remaining nine months ending March 31, 2023) $ 5,382 $ 2,191 $ 7,573 2024 6,850 2,923 9,773 2025 4,586 1,509 6,095 2026 2,181 96 2,277 2027 1,883 80 1,963 Thereafter 1,682 — 1,682 Total undiscounted lease payments 22,564 6,799 29,363 Less amount of lease payments representing interest (1,556) (227) (1,783) Total present value of lease payments $ 21,008 $ 6,572 $ 27,580
Maturities of Finance Leases	As of June 30, 2022, the maturities of lease liabilities were as follows: (In thousands) Year Ending March 31, Operating Leases Finance Total 2023 (Remaining nine months ending March 31, 2023) $ 5,382 $ 2,191 $ 7,573 2024 6,850 2,923 9,773 2025 4,586 1,509 6,095 2026 2,181 96 2,277 2027 1,883 80 1,963 Thereafter 1,682 — 1,682 Total undiscounted lease payments 22,564 6,799 29,363 Less amount of lease payments representing interest (1,556) (227) (1,783) Total present value of lease payments $ 21,008 $ 6,572 $ 27,580

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	3 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other accrued liabilities consist of the following: (In thousands) June 30, 2022 March 31, 2022 Accrued marketing costs $ 37,835 $ 36,149 Accrued compensation costs 5,356 19,587 Accrued broker commissions 1,239 1,179 Income taxes payable 13,830 2,670 Accrued professional fees 3,965 4,150 Accrued production costs 3,225 3,686 Other accrued liabilities 7,287 6,692 $ 72,737 $ 74,113

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following, as of the dates indicated: (In thousands, except percentages) June 30, 2022 March 31, 2022 2021 Senior Notes bearing interest at 3.750%, with interest payable on April 1 and October 1 of each year. The 2021 Senior Notes mature on April 1, 2031. $ 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 0.50%, or an alternate base rate plus a margin of 1.00% per annum, due on July 1, 2028. 480,000 495,000 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. 10,000 — Long-term debt 1,490,000 1,495,000 Less: unamortized debt costs (17,573) (18,342) Long-term debt, net $ 1,472,427 $ 1,476,658
Aggregate Future Principal Payments	As of June 30, 2022, 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 2031 (the "2021 Senior Notes") and the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows: (In thousands) Year Ending March 31, Amount 2023 (remaining nine months ending March 31, 2023) $ — 2024 — 2025 10,000 2026 — 2027 — Thereafter 1,480,000 $ 1,490,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Carry Amounts and Fair Value Measurements	The summary below details the carrying amounts and estimated fair values of these instruments at June 30, 2022 and March 31, 2022. June 30, 2022 March 31, 2022 (In thousands) Carrying Value Fair Value Carrying Value Fair Value 2021 Senior Notes $ 600,000 $ 484,500 $ 600,000 $ 534,000 2019 Senior Notes 400,000 372,000 400,000 397,000 2012 Term B-5 Loans 480,000 476,400 495,000 493,144 2012 ABL Revolver 10,000 10,000 — —

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The following table summarizes our interest rate swaps, net of tax, for the periods shown: Three Months Ended June 30, (In thousands) Location 2022 2021 Gain Recognized in Other Comprehensive Loss (effective portion) Other comprehensive income (loss) $ — $ 520 Loss Reclassified from Accumulated Other Comprehensive Loss into Income Interest expense $ — $ (718)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Class of Treasury Stock	Our share repurchases consisted of the following: Three Months Ended June 30, 2022 2021 Shares repurchased pursuant to the provisions of the various employee restricted stock awards: Number of shares 99,219 63,314 Average price per share $54.94 $46.04 Total amount repurchased $5.5 million $2.9 million Shares repurchased in conjunction with our share repurchase program: Number of shares 677,555 — Average price per share $55.68 $ — Total amount repurchased $37.7 million $ —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consisted of the following at June 30, 2022 and March 31, 2022: (In thousands) June 30, 2022 March 31, 2022 Components of Accumulated Other Comprehensive Loss Cumulative translation adjustment $ (29,723) $ (20,204) Unrecognized net gain on pension plans, net of tax of $(114) and $(350), respectively 382 1,172 Accumulated other comprehensive loss, net of tax $ (29,341) $ (19,032)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jun. 30, 2022
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 June 30, (In thousands, except per share data) 2022 2021 Numerator Net income $ 55,272 $ 57,755 Denominator Denominator for basic earnings per share — weighted average shares outstanding 50,264 50,139 Dilutive effect of unvested restricted stock units and options issued to employees and directors 466 532 Denominator for diluted earnings per share 50,730 50,671 Earnings per Common Share: Basic earnings per share $ 1.10 $ 1.15 Diluted earnings per share $ 1.09 $ 1.14

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Compensation Expense Information	The following table provides information regarding our stock-based compensation: Three Months Ended June 30, (In thousands) 2022 2021 Pre-tax share-based compensation costs charged against income $ 3,857 $ 1,878 Income tax benefit recognized on compensation costs $ 537 $ 143 Total fair value of options and RSUs vested during the period $ 10,225 $ 7,006 Cash received from the exercise of stock options $ 1,489 $ 2,204 Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises $ 2,895 $ 1,721
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 Three Months Ended June 30, 2021 Unvested at March 31, 2021 457.0 $ 33.52 Granted 152.1 44.33 Vested (145.5) 30.63 Forfeited (23.1) 30.17 Unvested at June 30, 2021 440.5 38.38 Vested at June 30, 2021 151.3 32.03 Three Months Ended June 30, 2022 Unvested at March 31, 2022 440.9 $ 38.45 Granted 134.0 54.47 Incremental performance shares 42.4 — Vested (222.4) 32.05 Unvested at June 30, 2022 394.9 46.65 Vested at June 30, 2022 108.5 36.54
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: Three Months Ended June 30, 2022 2021 Expected volatility 30.8% - 30.9% 31.2% - 31.9% Expected dividends $ — $ — Expected term in years 6.0 to 7.0 6.0 to 7.0 Risk-free rate 2.8% to 2.9% 1.3% Weighted average grant date fair value of options granted $ 20.10 $ 14.77
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 Three Months Ended June 30, 2021 Outstanding at March 31, 2021 1,114.9 $ 37.92 Granted 222.7 44.33 Exercised (67.9) 32.49 Forfeited (9.2) 36.45 Expired (8.4) 56.63 Outstanding at June 30, 2021 1,252.1 39.24 6.9 $ 17,068 Vested at June 30, 2021 779.5 38.72 5.6 $ 11,399 Three Months Ended June 30, 2022 Outstanding at March 31, 2022 1,100.9 $ 40.62 Granted 197.6 54.48 Exercised (39.1) 38.04 Outstanding at June 30, 2022 1,259.4 42.88 6.9 $ 20,052 Vested at June 30, 2022 827.0 39.98 5.7 $ 15,567

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	3 Months Ended
	Jun. 30, 2022
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 June 30, (In thousands) 2022 2021 Interest cost $ 331 $ 278 Expected return on assets (252) (290) Net periodic benefit expense (income) $ 79 $ (12)

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Operating and Reportable Segments	The tables below summarize information about our reportable segments. Three Months Ended June 30, 2022 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 242,518 $ 34,541 $ 277,059 Cost of sales 102,921 14,019 116,940 Gross profit 139,597 20,522 160,119 Advertising and marketing 35,412 4,539 39,951 Contribution margin $ 104,185 $ 15,983 120,168 Other operating expenses 33,154 Operating income $ 87,014 * Intersegment revenues of $0.5 million were eliminated from the North American OTC Healthcare segment. Three Months Ended June 30, 2021 (In thousands) North American OTC International OTC Consolidated Total segment revenues* $ 242,393 $ 26,788 $ 269,181 Cost of sales 99,404 10,765 110,169 Gross profit 142,989 16,023 159,012 Advertising and marketing 35,230 4,209 39,439 Contribution margin $ 107,759 $ 11,814 119,573 Other operating expenses 28,231 Operating income $ 91,342 * Intersegment revenues of $1.0 million were eliminated from the North American OTC Healthcare segment.
Revenues from Similar Product Groups	The tables below summarize information about our segment revenues from similar product groups. Three Months Ended June 30, 2022 (In thousands) North American OTC International OTC Consolidated Analgesics $ 27,797 $ 453 $ 28,250 Cough & Cold 21,592 6,271 27,863 Women's Health 61,184 4,867 66,051 Gastrointestinal 40,067 14,027 54,094 Eye & Ear Care 38,611 4,736 43,347 Dermatologicals 29,455 1,006 30,461 Oral Care 20,975 3,170 24,145 Other OTC 2,837 11 2,848 Total segment revenues $ 242,518 $ 34,541 $ 277,059 Three Months Ended June 30, 2021 (In thousands) North American OTC International OTC Consolidated Analgesics $ 32,821 $ 406 $ 33,227 Cough & Cold 14,045 4,847 18,892 Women's Health 63,248 3,944 67,192 Gastrointestinal 42,366 10,204 52,570 Eye & Ear Care 35,987 3,458 39,445 Dermatologicals 31,150 939 32,089 Oral Care 20,967 2,989 23,956 Other OTC 1,809 1 1,810 Total segment revenues $ 242,393 $ 26,788 $ 269,181
Consolidated Goodwill and Intangible Assets Allocated to Reportable Segments

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 01, 2021	Jun. 30, 2022	Mar. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 576,794	$ 578,976
Akorn Operating Company LLC
Business Acquisition [Line Items]
Purchase price	$ 228,900
Supply commitment, term of agreement		3 years
Business combination, non-amortizable intangible assets, allocated amount	195,900
Business combination, amortizable intangible assets, allocated amount	29,500
Intangible asset, useful life		12 years 6 months
Goodwill	1,098
Customer Relationships | Akorn Operating Company LLC
Business Acquisition [Line Items]
Business combination, non-amortizable intangible assets, allocated amount	20,400
Trademarks | Akorn Operating Company LLC
Business Acquisition [Line Items]
Business combination, non-amortizable intangible assets, allocated amount	$ 9,100

Acquisition - Allocation of Ass

Acquisition - Allocation of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Jul. 01, 2021
Purchase Price
Goodwill	$ 576,794	$ 578,976
Akorn Operating Company LLC
Purchase Price
Inventories			$ 6,455
Goodwill			1,098
Intangible assets			225,410
Total assets acquired			232,963
Accounts payable			428
Reserves for sales allowances			497
Other accrued liabilities			3,124
Total liabilities assumed			4,049
Total purchase price			$ 228,914

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Inventory Disclosure [Abstract]
Packaging and raw materials	$ 16,737	$ 16,984
Work in process	476	338
Finished goods	116,555	103,020
Inventories	$ 133,768	$ 120,342

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory valuation reserves related to obsolete and slow-moving inventory	$ 4.9	$ 4.9

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill	$ 744,274
Accumulated impairment loss, beginning	(165,298)
Goodwill, net	578,976
Goodwill, transfers	(550)
Effects of foreign currency exchange rates	(1,632)
Goodwill, gross, ending	742,092
Accumulated impairment loss, ending	(165,298)
Goodwill, net, ending	576,794
North American OTC Healthcare
Goodwill [Roll Forward]
Goodwill	712,002
Accumulated impairment loss, beginning	(163,711)
Goodwill, net	548,291
Goodwill, transfers	(550)
Effects of foreign currency exchange rates	0
Goodwill, gross, ending	711,452
Accumulated impairment loss, ending	(163,711)
Goodwill, net, ending	547,741
International OTC Healthcare
Goodwill [Roll Forward]
Goodwill	32,272
Accumulated impairment loss, beginning	(1,587)
Goodwill, net	30,685
Goodwill, transfers	0
Effects of foreign currency exchange rates	(1,632)
Goodwill, gross, ending	30,640
Accumulated impairment loss, ending	(1,587)
Goodwill, net, ending	$ 29,053

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Jul. 01, 2021
Goodwill [Line Items]
Goodwill	$ 578,976	$ 576,794
Goodwill, impairment loss	$ 300
Akorn Operating Company LLC
Goodwill [Line Items]
Goodwill			$ 1,098

Intangible Assets, net - Activi

Intangible Assets, net - Activity Affecting Intangible Assets (Details) - USD ($) $ in Thousands		3 Months Ended
	Dec. 15, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Intangible Assets, Gross [Abstract]
Totals, gross, beginning balance		$ 2,912,733
Intangible assets, additions		0
Intangible Assets, Translation Adjustments Gain (Loss)		(8,572)
Totals, gross, ending balance		2,904,161
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance		216,098
Accumulated amortization, additions		5,635	$ 4,900
Accumulated amortization, effects of foreign exchange rates		(183)
Accumulated amortization, ending balance		221,550
Finite-Lived Intangible Assets, Net [Abstract]
Finite-Lived Intangible Assets, Net		212,848
Intangible Assets, Net [Abstract]
Intangible Assets, Net (Excluding Goodwill), Total		2,682,611		$ 2,696,635
Zaditen
Intangible Assets, Gross [Abstract]
Intangible assets, additions	$ 18,100
Finite-Lived Trademarks and Customer Relationships
Finite-Lived Intangible Assets, Gross [Abstract]
Finite-lived trademarks and customer relationships, beginning balance		436,174
Finite-Lived trademarks and customer relationships, additions		0
Finite-lived trademarks and customer relationships, effects of foreign currency exchange rate		(1,776)
Finite-lived trademarks and customer relationships, ending balance		434,398
Finite-lived Intangible Assets, Accumulated Amortization [Abstract]
Accumulated amortization, beginning balance		216,098
Accumulated amortization, additions		5,635
Accumulated amortization, effects of foreign exchange rates		(183)
Accumulated amortization, ending balance		221,550
Finite-Lived Intangible Assets, Net [Abstract]
Finite-Lived Intangible Assets, Net		212,848
Indefinite- Lived Trademarks
Indefinite-Lived Intangible Assets [Abstract]
Indefinite-lived trademarks, beginning balance		2,476,559
Indefinite-lived trade marks, additions		0
Indefinite lived trademarks, effects of foreign currency exchange rate		(6,796)
Indefinite-lived trademarks, ending balance		$ 2,469,763

Intangible Assets, net - Narrat

Intangible Assets, net - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended		12 Months Ended
	Dec. 15, 2021	Jul. 01, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, additions			$ 0
Amortization expense			$ 5,635	$ 4,900
Impairment of intangible assets					$ 700
Zaditen
Finite-Lived Intangible Assets [Line Items]
Intangible assets, additions	$ 18,100
Akorn Operating Company LLC
Finite-Lived Intangible Assets [Line Items]
Intangible assets, additions		$ 225,400
Intangible asset, useful life			12 years 6 months
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) $ in Thousands	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining nine months ended March 31, 2023)	$ 16,865
2024	22,445
2025	20,392
2026	18,145
2027	16,504
Thereafter	118,497
Finite-lived intangible assets, net	$ 212,848

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Amortization of right-of-use assets	$ 665	$ 642
Interest on lease liabilities	50	66
Operating lease cost	1,634	1,687
Short term lease cost	34	22
Variable lease cost	11,999	11,651
Total net lease cost	$ 14,382	$ 14,068

Leases - Lease Maturities (Deta

Leases - Lease Maturities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating Leases
2023 (Remaining nine months ending March 31, 2023)	$ 5,382
2024	6,850
2025	4,586
2026	2,181
2027	1,883
Thereafter	1,682
Total undiscounted lease payments	22,564
Less amount of lease payments representing interest	(1,556)
Total present value of lease payments	21,008
Finance Lease
2023 (Remaining nine months ending March 31, 2023)	2,191
2024	2,923
2025	1,509
2026	96
2027	80
Thereafter	0
Total undiscounted lease payments	6,799
Less amount of lease payments representing interest	(227)
Total present value of lease payments	6,572
Total
2023 (Remaining nine months ending March 31, 2023)	7,573
2024	9,773
2025	6,095
2026	2,277
2027	1,963
Thereafter	1,682
Total undiscounted lease payments	29,363
Less amount of lease payments representing interest	(1,783)
Total present value of lease payments	$ 27,580

Leases - Additional Information

Leases - Additional Information (Details)	Jun. 30, 2022
Weighted average remaining lease term (years)
Operating leases	3 years 9 months 21 days
Finance leases	2 years 4 months 24 days
Weighted average discount rate
Operating leases	3.08%
Finance leases	2.95%

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued marketing costs	$ 37,835	$ 36,149
Accrued compensation costs	5,356	19,587
Accrued broker commissions	1,239	1,179
Income taxes payable	13,830	2,670
Accrued professional fees	3,965	4,150
Accrued production costs	3,225	3,686
Other accrued liabilities	7,287	6,692
Other accrued liabilities	$ 72,737	$ 74,113

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 1,490,000
Long-term debt, net	1,490,000	$ 1,495,000
Less: unamortized debt costs	(17,573)	(18,342)
Long-term debt, net	1,472,427	1,476,658
2012 ABL Revolver | Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 10,000	0
Senior Notes | 2021 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	3.75%
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
2012 Term B-5 Loans, Amendment No. 5 | 2012 ABL Revolver | Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 480,000	$ 495,000
2012 Term B-5 Loans, Amendment No. 5 | 2012 ABL Revolver | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2%
Debt instrument, variable rate, minimum	0.50%
2012 Term B-5 Loans, Amendment No. 5 | 2012 ABL Revolver | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Total long-term debt (including current portion)	$ 1,490,000,000
Revolving Credit Facility | 2012 ABL Revolver
Debt Instrument [Line Items]
Total long-term debt (including current portion)	10,000,000	$ 0
Borrowing capacity	$ 137,500,000

Long-Term Debt - Maturities of

Long-Term Debt - Maturities of Long-term Debt (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Aggregate Future Principal Payments
2023 (remaining nine months ending March 31, 2023)	$ 0
2024	0
2025	10,000
2026	0
2027	0
Thereafter	1,480,000
Total long-term debt (including current portion)	$ 1,490,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Senior Notes | 2021 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	480,000	495,000
Revolving Credit Facility | 2012 ABL Revolver | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
2012 ABL Revolver	10,000	0
Fair Value, Measurements, Recurring | Senior Notes | 2021 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	484,500	534,000
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	372,000	397,000
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	476,400	493,144
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	$ 10,000	$ 0

Derivative Instruments (Details

Derivative Instruments (Details) $ in Millions	Jan. 31, 2020 USD ($) agreement
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, number of instruments held | agreement	1
Interest rate swaps | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount | $	$ 200

Derivative Instruments - Summar

Derivative Instruments - Summary of Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in Other Comprehensive Loss (effective portion)	$ 0	$ 520
Designated as Hedging Instrument | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in Other Comprehensive Loss (effective portion)	0	520
Designated as Hedging Instrument | Interest expense | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss Reclassified from Accumulated Other Comprehensive Loss into Income	$ 0	$ (718)

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended
	Jun. 30, 2022 USD ($) vote $ / shares shares	Mar. 31, 2022 $ / shares shares
Stockholders' Equity Note [Abstract]
Common stock, shares authorized | shares	250,000,000	250,000,000
Common stock, par value (in USD per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock, shares authorized | 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
	Jun. 30, 2022	Jun. 30, 2021
Class of Stock [Line Items]
Total amount repurchased	$ 43,177	$ 2,916
Share Repurchase Program
Class of Stock [Line Items]
Number of shares	677,555	0
Average price per share (in USD per share)	$ 55.68	$ 0
Total amount repurchased	$ 37,700	$ 0
Restricted Shares
Class of Stock [Line Items]
Number of shares	99,219	63,314
Average price per share (in USD per share)	$ 54.94	$ 46.04
Total amount repurchased	$ 5,500	$ 2,900

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2021	Mar. 31, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	$ 1,584,743	$ 1,358,298	$ 1,577,611	$ 1,416,247
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(29,341)	(19,801)	(19,032)	$ (20,773)
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	(29,723)		(20,204)
Unrecognized net gain on pension plans, net of tax of $(114) and $(350), respectively
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shareholders' equity	382		$ 1,172
Other comprehensive loss, cash flow hedge, reclassification tax	$ (114)	$ (350)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Reclassification from accumulated other comprehensive loss into earnings	$ 0	$ 0

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basis and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Numerator
Net income	$ 55,272	$ 57,755
Denominator
Denominator for basic earnings per share — weighted average shares outstanding (in shares)	50,264	50,139
Dilutive effect of nonvested restricted stock units and options issued to employees and directors (in shares)	466	532
Denominator for diluted earnings per share (in shares)	50,730	50,671
Earnings per Common Share:
Basic earnings per share (in USD per share)	$ 1.10	$ 1.15
Diluted earnings per share (in USD per share)	$ 1.09	$ 1.14

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities (Details) - shares shares in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Outstanding Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0.4	0.5

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended
	May 03, 2021	May 31, 2014	Jun. 30, 2014	Jun. 30, 2022	Jun. 30, 2021	Jun. 23, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares per participant, 12 month period		1,000,000	2,500,000
Extension of plan term			10 years
Unrecognized compensation costs related to nonvested awards				$ 5.5
Unrecognized compensation costs related to nonvested awards, weighted average period for recognition				2 years 4 months 24 days
Shares available for issuance under the Plan (in shares)				2,200,000
Stock options granted (in shares)				197,600	222,700
Options exercised, aggregate intrinsic value				$ 0.7
Restricted Stock Units (RSUs) & Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to nonvested awards				$ 13.2
Unrecognized compensation costs related to nonvested awards, weighted average period for recognition				2 years 3 months 18 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share grants in period				134,000	152,100
Long-term Equity Incentive Plan, 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant		5,000,000
Number of additional shares authorized			1,800,000
Long-term Incentive Plan, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance						2,827,210
Number of new shares for future issuance under 2020 long-term incentive plans						2,000,000
Number of unissued shares reserved for 2020 long-term incentive plans						827,210
Long-term Incentive Plan, 2020 | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share grants in period	67,959
Long-term Incentive Plan, 2020 | Restricted Stock Units (RSUs) & Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share grants in period	65,721
Long-term Incentive Plan, 2020 | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	195,526
Stock options granted, exercise price (in USD per share)	$ 54.47

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Based Compensation Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Pre-tax share-based compensation costs charged against income	$ 3,857	$ 1,878
Income tax benefit recognized on compensation costs	537	143
Total fair value of options and RSUs vested during the period	10,225	7,006
Cash received from the exercise of stock options	1,489	2,204
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises	$ 2,895	$ 1,721

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Shares
Outstanding, beginning of period (in shares)	440,900	457,000
Granted (in shares)	134,000	152,100
Incremental performance shares	42,400
Vested (in shares)	(222,400)	(145,500)
Forfeited (in shares)		(23,100)
Outstanding, end of period (in shares)	394,900	440,500
Vested, end of period (in shares)	108,500	151,300
Weighted Average Grant-Date Fair Value
Outstanding, beginning of period, weighted-average grant-date fair value (in USD per share)	$ 38.45	$ 33.52
Granted, weighted-average grant-date fair value (in USD per share)	54.47	44.33
Vested, weighted-average grant-date fair value (in USD per share)	32.05	30.63
Forfeited, weighted-average grant-date fair value (in USD per share)		30.17
Outstanding, end of period, weighted-average grant-date fair value (in USD per share)	46.65	38.38
Vested, end of period, weighted-average grant-date fair value (in USD per share)	$ 36.54	$ 32.03

Share-Based Compensation - St_2

Share-Based Compensation - Stock Option Valuation Assumptions (Details) - Stock Options - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividends	$ 0	$ 0
Granted, weighted-average grant-date fair value (in USD per share)	$ 20.10	$ 14.77
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30.80%	31.20%
Expected term in years	6 years	6 years
Risk-free rate	2.80%	1.30%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30.90%	31.90%
Expected term in years	7 years	7 years
Risk-free rate	2.90%

Share-Based Compensation Stock

Share-Based Compensation Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Shares
Outstanding, beginning of period (in shares)	1,100,900	1,114,900
Granted (in shares)	197,600	222,700
Exercised (in shares)	(39,100)	(67,900)
Forfeited (in shares)		(9,200)
Expired (in shares)		(8,400)
Outstanding, end of period (in shares)	1,259,400	1,252,100
Exercisable, end of period (in shares)	827,000	779,500
Weighted Average Exercise Price
Outstanding, beginning of period, weighted-average exercise price (in USD per share)	$ 40.62	$ 37.92
Granted, weighted-average exercise price (in USD per share)	54.48	44.33
Exercised, weighted-average exercise price (in USD per share)	38.04	32.49
Forfeited, weighted-average exercise price (in USD per share)		36.45
Expired, weighted-average exercise price (in USD per share)		56.63
Outstanding, end of period, weighted-average exercise price (in USD per share)	42.88	39.24
Exercisable, end of period, weighted-average exercise price (in USD per share)	$ 39.98	$ 38.72
Options, Additional Disclosures:
Outstanding, end of period, weighted-average remaining contractual term	6 years 10 months 24 days	6 years 10 months 24 days
Exercisable, end of period, weighted-average remaining contractual term	5 years 8 months 12 days	5 years 7 months 6 days
Outstanding, end of period, aggregate intrinsic value	$ 20,052	$ 17,068
Exercisable, end of period, aggregate intrinsic value	$ 15,567	$ 11,399

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	22%	24.40%

Employee Retirement Plans - Exp

Employee Retirement Plans - Expected Return on Plan Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Interest cost	$ 331	$ 278
Expected return on assets	(252)	(290)
Net periodic benefit expense (income)	$ 79	$ (12)

Employee Retirement Plans - Nar

Employee Retirement Plans - Narrative (Details)	3 Months Ended
	Jun. 30, 2022 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Payment for settlement, lump sum	$ 13,800,000
Payment for settlement, purchase of annuity contract	31,100,000
Settlement loss, before tax	400,000
Non-qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	100,000
Expected employer contributions, remainder of fiscal year	300,000
Qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected employer contributions, remainder of fiscal year	$ 0

Concentrations of Risk (Details

Concentrations of Risk (Details) - manufacturer	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Concentration Risk [Line Items]
Number of third-party manufacturers	129	118
Sales | Customer Concentration Risk | Walmart
Concentration Risk [Line Items]
Concentration risk, percentage	19.90%	20.50%
Sales | Supplier Concentration Risk
Concentration Risk [Line Items]
Number of third-party manufacturers with long-term contracts	25	18
Top 5 brands | Sales | Product Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	41.50%	45.50%
Manufactures | Sales | Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	71%	69.80%

Business Segments - Information

Business Segments - Information on Operating and Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information, Profit (Loss):
Total revenues	$ 277,059	$ 269,181
Cost of sales	116,940	110,169
Gross profit	160,119	159,012
Advertising and marketing	39,951	39,439
Contribution margin	120,168	119,573
Other operating expenses	33,154	28,231
Operating income	87,014	91,342
North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	242,518	242,393
International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	34,541	26,788
Operating Segments | North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	242,518	242,393
Cost of sales	102,921	99,404
Gross profit	139,597	142,989
Advertising and marketing	35,412	35,230
Contribution margin	104,185	107,759
Operating Segments | International OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	34,541	26,788
Cost of sales	14,019	10,765
Gross profit	20,522	16,023
Advertising and marketing	4,539	4,209
Contribution margin	15,983	11,814
Intersegment Eliminations | North American OTC Healthcare
Segment Reporting Information, Profit (Loss):
Total revenues	$ 500	$ 1,000

Business Segments - Revenue (De

Business Segments - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 277,059	$ 269,181
Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	28,250	33,227
Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	27,863	18,892
Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	66,051	67,192
Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	54,094	52,570
Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	43,347	39,445
Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	30,461	32,089
Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	24,145	23,956
Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	2,848	1,810
North American OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	242,518	242,393
North American OTC Healthcare | Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	27,797	32,821
North American OTC Healthcare | Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	21,592	14,045
North American OTC Healthcare | Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	61,184	63,248
North American OTC Healthcare | Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	40,067	42,366
North American OTC Healthcare | Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	38,611	35,987
North American OTC Healthcare | Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	29,455	31,150
North American OTC Healthcare | Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	20,975	20,967
North American OTC Healthcare | Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	2,837	1,809
International OTC Healthcare
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	34,541	26,788
International OTC Healthcare | Analgesics
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	453	406
International OTC Healthcare | Cough & Cold
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	6,271	4,847
International OTC Healthcare | Women's Health
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	4,867	3,944
International OTC Healthcare | Gastrointestinal
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	14,027	10,204
International OTC Healthcare | Eye & Ear Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	4,736	3,458
International OTC Healthcare | Dermatologicals
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	1,006	939
International OTC Healthcare | Oral Care
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	3,170	2,989
International OTC Healthcare | Other OTC
Geographic Areas, Revenues from External Customers [Abstract]
Total revenues	$ 11	$ 1

Business Segments - Goodwill an

Business Segments - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 576,794	$ 578,976
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-Lived Intangible Assets, Net	212,848
Intangible assets, net	2,682,611	2,696,635
North American OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	547,741	548,291
International OTC Healthcare
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 29,053	$ 30,685

Subsequent Events (Details)

Subsequent Events (Details) - shares		3 Months Ended
	Aug. 02, 2022	Jun. 30, 2022	Jun. 30, 2021
Subsequent Event [Line Items]
Stock options granted (in shares)		197,600	222,700
Subsequent Event | Director
Subsequent Event [Line Items]
Stock options granted (in shares)	2,495